612 10th Street #B, Hermosa Beach, CA 90254

                                          In Escrow

                 

                                         Open House Sunday 1:00-4:00

              This one has it all...   including a new price...  $959,000

This sharp rear unit is a short walk to downtown Hermosa and the Beach.   Literally steps to the jogging path  for an early morning run  or a quiet evening stroll.  Walk to the library and restaurants and beach concerts.

There's lots to love in this unit from the roof top deck with a peek of the ocean to the oversize laundry room with storage galore.  The home is 2357 square feet with  3 large bedrooms, 2.5 baths, charming living room, a full size dining room and a breakfast nook, large family room with open views and a fabulous kitchen. with a terrific pantry.  The 2 view decks give you a new perspective on beach living.

            


Click on the video for a quick preview and join me Sunday July 11, 2010 for a closer inspection.

                                    

612 10th Street #B, Hermosa Beach, CA 90266

Just in time for warm summer days and breezy summer nights... this lovely rear unit is a short walk to downtown Hermosa and the Beach.   Literally steps to the jogging path  for an early morning run  or a quiet evening stroll.

There's lots to love in this unit from the roof top deck with a peek of the ocean to the oversize laundry room with storage galore.  The home is 2357 square feet with  3 large bedrooms, 2.5 baths, charming living room, a full size dining room and a breakfast nook, large family room with open views and a fabulous kitchen. with a terrific pantry.  The 2 view decks will  make your inland friends jealous.

                                                 $989,000

Click on the video for a quick preview and join me Sunday June 20, 2010 for a closer imspection.

The Hermosa Strand

Hermosa Beach has come a long way from the days when most of the City Council members were renters and Bikers ruled.  The local elementary schools are some of the best in the state and parents have a choice between Mira Costa and Redondo Union for  High School.  

Strand homes  in Hermosa are priced very competitively with  those in Manhattan Beach.   Charming Walk street homes  lure buyers looking for that  small town beach cottage  feeling rather then the more sophiscated homes found in Manhattan Beach.   Hermosa has grown up and  well qualified  buyers with cash are  taking the place of  renters as old rental units are torn down and replaced with owner occupied homes.

There were 49 homes sold during the period from October 1-March 9, 2010.  During that time frame  7  sales were all cash, 22 buyers put down 25% or less down and 20 buyers put down 30% or more.


Hermosa Beach: Down payment % for single family homes:

 

Hermosa Strand... old and new


After a very slow first half of the year Hermosa saw the number of home and townhome sales almost double in the second half of 2009.  There were 64 homes and 53 townhomes that closed escrow from July-December 2009.    Hermosa hasn't seen that many 3rd and 4th quarter sales since 2005. 

The Hermosa Beach real estate market has been a bit different then the other Beach Cities.  Prices continued  on the high side  for most of the year and inventory didn't move.  Most sellers were not lowering prices and   properties would  re-list over and over at the same price.  After July  changes in the real estate market forced sellers to adjust prices as more short sales and REO's began to sell at prices well under where competing properties were listed.   Units in the Moorings are a good example of how changes in the market  forced many sellers to rethink their pricing strategy. 


Hermosa has a number of Strand properties on the market.  There are currently 7 Strand homes for sale in Hermosa. Prices range from just under $4,000,000 to almost $16,000,000.   Over the last year 4 have closed escrow and 2 are pending.  While asking prices are similar to those in Manhattan Beach the final sold prices this year have been  lower then the prices on similar homes in Manhattan Beach.    This will be an interesting segment of the market to watch as some pricey new homes hit the market.


Hermosa Beach, like Manhattan Beach has little in the way single family homes that are new construction .  While there is  new construction most of the new homes have been built by private parties and are not going on the market.  There are few homes available that were built after 2006  which means that buyers will have to either build themselves  if they want new or buy an older home that has been extensively remodeled.  Even the townhome market is not seeing much in the way of new construction other then the project on 21st street. 


As the new year opens there are 48 homes and 32 townhomes/condos for sale.  There are 20 homes and 19 townhomes in escrow.  As of February 15, 2010 18 homes and 7 townhomes have closed escrow.  It's  looking like a better year for home sales in Hermosa Beach.


Hermosa Beach:  Sold July-December 2000-2009(click on graph to enlarge)


















Hermosa Beach: Sand Sold July-December 2000-2009














 

 

Hermosa Beach:  Valley Sold July-December 2000-2009

Hermosa Beach: Hills Sold July-December 2000-2009

Hermosa Beach: Sold January-June 2000-2009

Hermosa Beach Strand....



Hermosa Beach has always been the younger version of Manhattan Beach... a little more casual and a tad more non-conformist then its sister city to the north. But like all younger siblings Hermosa is beginning to grow up...


New construction in the north end along The Strand and many walkstreets is rivaling prices in Manhattan Beach. The Hermosa Valley is home to some very pricey homes on large lots. This quiet area is a "locals knowledge" area similar to the "estate sized lots" just east of Sepulveda in Manhattan Beach. The Hermosa Hills east of PCH are also seeing older homes being torn down to make way for larger homes often with some fabulous views.

Much of Hermosa is made up of non-conforming zoning with townhomes next door to single family homes or small income properties. Hermosa has managed to retain more of the older beach cottages then Manhattan which makes for some quaint and charming walk street homes.

While the volume of sales is down by a large percentage...the overall median price of homes in Hermosa has not declined... but has in fact gone up every year since 2000. The reason is some hefty sale prices along The Strand, in the Sand section and in the Hermosa Valley. In the Hermosa Hills, east of PCH, we see a different story. Not only are sales down but prices are closer to 2003 levels.

As with Manhattan Beach one of the looming issues is the lack of comps for some of the higher priced properties. With only 32 home and 28 townhome/condo sales in all of Hermosa from January-June you can expect some real issues with appraisals in the coming months.

Hermosa Beach: Sold January-June 2000-2009(click on graph to enlarge)

Hermosa Beach: Sand January-June 2000-2009

Hermosa Beach: Hermosa Valley January -June 2000-2009 

Hermosa Beach: Hermosa Hills January-June 2000-2009