1450 Manhattan Beach Blvd # D, Manhattan Beach..

Open Saturday August 6, 2011  1-4 pm

$469,000








Manhattan Beach address for a North Redondo Beach price!

If you want to live in Manhattan Beach but don't have a lot of cash this unit is the perfect choice. Updated 2 bedrooms, 2 bath with fireplace and city views...This sunny upper floor unit has a private 2 car enclosed garage with a large storage room and the units have their own private laundry room with space for storage. There is additional parking in front of the garage for a total of 3 parking spaces.



Ideally located near the park, shopping and schools. The unit is about a mile to the beach and downtown Manhattan Beach... Call(310) 721-7438 or email Kaye for an appointment to view..




$469,000

1450 Manhattan Beach Blvd # D, Manhattan Beach..
New Price!

$469,000

Manhattan Beach address for a North Redondo Beach price!

If you want to live in Manhattan Beach but don't have a lot of cash this unit is the perfect choice. Updated 2 bedrooms, 2 bath with fireplace and city views...This sunny upper floor unit has a private 2 car enclosed garage with a large storage room and the units have their own private laundry room with space for storage. There is additional parking in front of the garage for a total of 3 parking spaces.



Ideally located near the park, shopping and schools. The unit is about a mile to the beach and downtown Manhattan Beach... Call(310) 721-7438 or email Kaye for an appointment to view..




$469,000

Manhattan Beach Market Snapshot May 2011






May sales figures leave no doubt that the volume of sales is down from last year at this time. While the number of sales isn't off much ... 45 homes and townhome sales in May 2010 vs 37 homes and townhomes sold in May 2011... in our small real estate market 8 sales makes a difference.

Tougher loan guidelines and regulations, consumer concerns about employment and the overall economy are making many buyers skittish about where the market is headed. The boys in D.C. continue to complain about the housing market while they issue guidelines and rules that make it much harder to get a loan than it was in pre 2002.

While buyers in our local Manhattan Beach real estate market generally have the financial qualifications to purchase a home, they are still leery about what is happening in the economy both locally and nationally.



I think most buyers can expect prices on Manhattan Beach homes to remain flat with minor ups and downs in the various subareas. I really don't think we will see any major price declines and certainly no increases for sometime. As long as the economic outlook remains uneven real estate sales will continue to be sluggish even in Manhattan Beach.....








Manhattan Beach : Sold May 2011

Manhattan Beach: April Home sales  2007-2010













 











A few days ago the LA Times had a front page article about the decline of  home prices in April in southern California.  The tone of the article was indeed dire as it proclaimed this April to be the worst in 3 years.  But as with many articles about the southern California housing market,  the reality of the Manhattan Beach-Beach Cities market is not quite on the same level as other areas... especially those that are inland. 

There were 36 homes and  townhomes that closed escrow in April 2011 in Manhattan Beach.  The numbers were the same as April 2010 while higher then April 2009 and April 2008.   

That said home sales in the  Manhattan Beach-Beach Cities real estate market this spring have been slower than many expected with interest rates hovering at 5% or lower and prices remaining flat or declining slightly in some parts of the South Bay -Beach Cities market.

Buyers are still  unsure about where the economy is headed.  The economic numbers nationwide may sound better but unemployment is still high in California and the rest of the country.  Credit remains very tight  as lenders seem to continually find new reasons not make loans to credit worthy buyers.  It seems that once Congress decided to make lenders keep a percentage of  their own money in the game the rules changed dramatically.

Appraisals continue to be an issue depending on whether or not the appraiser is familiar with the local market.   The condition of the property has become more important than in previous years as lenders only want to loan on homes in average or better condition making  "fixer" sales  difficult to finance.

Inventory is creeping up  with 156 homes, townhomes and condos for sale in Manhattan Beach.  This is not as high as we have seen in previous years but higher than a few months ago.  There are 32 properties for sale priced under $1,000,000 and 27 priced over $3,000,000.  Properties  that are priced right in a good location that show well are selling quickly... the rest are lingering on the market as they try to find buyers.

Manhattan Beach: Market Snapshot Sold April 2011

 

Single family homes sold in Manhattan Beach March 2007-2011






March 2011 saw the most closed sales of single family homes for the month of March since 2007.  34 homes and 9 townhomes are not record shattering numbers but they are better than we have seen in early spring for quite awhile. 

 In an historic news conference today the Federal Reserve Chairman Ben Bernanke told the country that the Fed would continue their current economic policies.  For home owners and  home buyers that translates into continued low mortgage rates.  While that may have been welcome news to many there are still a number of areas in the economy that are a little sketchy making most folks a tad nervous about just where the economy is headed.

That said folks are still buying and selling houses... just not as many as they did in the boom years.  Generally Manhattan Beach and the Beach Cities have survived the worst of the downturn.  Prices continue to bounce around. and will no doubt do so through the end of the year.  Location  and condition are the big factors in our local Manhattan Beach real estate market.  

Desirable homes in A+ locations are finding buyers at record prices.   A few weeks ago a Strand home quietly sold off market for $12,000,000 which is significantly higher the the price posted for 1600 The Strand which closed at $10,900,000 earlier this month.   

A few builders are testing the waters.  Construction loans are still difficult to obtain so don't expect to see large numbers of new homes popping up soon.  However you can expect that when some of the new spec homes reach the market later this year or spring of  next year they will find ready buyers who want new construction.

Manhattan Beach:  Sold March 2011