The Redondo Beach Pier



After I posted about  down payments on  home sales in Manhattan Beach,   a reader asked if I would do a similar post on Redondo Beach home sales. I apologize for taking so long but I've been out of town packing up my Mom's home so she can move back to the mainland... but that's another story.

Reviewing the  percentage of cash used for down payments on recent home sales has pointed out the difference in Manhattan Beach home buyers and Redondo Beach home buyers.  I was so intrigued that I'm going to post for Hermosa Beach  and El Segundo in a few days to complete the comparison for all the Beach Cities. 

North Redondo and Manhattan Beach are opposites in the Beach Cities real estate markets.   Manhattan Beach is of course the high end with North Redondo being the entry level.  In Manhattan Beach all cash sales made up over 20% of the market.  In North Redondo they were less then 10% and in South Redondo they were  slightly above 10% of closed sales.

 In North Redondo 80 single family homes closed escrow from October 1, 2009-March 7, 2010.  Of those 80 homes 6 were cash sales,  50 buyers put 20%  or more down while 18 buyers used either  VA or FHA funding less then 10% down.  In South Redondo 37 homes closed escrow during the same period.  4 were cash sales, 21 were purchased with 20% or more down and 10 were purchased using FHA loans.  In Manhattan Beach, of the 119 homes sold,  only one property sold using FHA financing, and 115 sold with more then 20% down.   




North Redondo:  Down payment %  for single family homes
















South Redondo: Down payment  % for single family homes


















**As with Manhattan Beach the figures are based on  single family homes...

 Redondo Beach Pier

  Click to take of tour of Redondo Beach  

If Manhattan Beach is the sharp Sophisticate  and Hermosa Beach is the Adorable younger sister then Redondo Beach is surely the Gorgeous older sister of the beach cities.   While the wind still blew over the empty dunes that would someday become Manhattan Beach and Hermosa Beach .. Redondo was the West Coast Resort town at he turn of the century.  People came from all over the country to the wonderful place that was Redondo Beach.  Most South Bay residents don't realize what a colorful history the City of Redondo has had over th e years.

Redondo Beach got its start because it has a deep seabed close to the shoreline.  In the late 1880's Los Angeles needed a port to handle shipping. Redondo Beach seemed an ideal spot.  By 1888 the city had  a  wharf and the Santa Fe was running a  line from downtown Los Angeles to Redondo numerous times a day.  By 1903 the city would boast 3 wharves and  was a major port...   although it would soon lose out to San Pedro.

In 1890 a grand resort  The Hotel Redondo had been built where Veterans Park now stands.  The hotel had 225 luxurious rooms with an 18 hole golf course, tennis courts and gorgeous landscaped grounds.  If you couldn't afford to stay in the hotel there was a Tent City nearby  where you could rent a tent with electric lights for $3.00 by the week or $10.00 by the month.  There was also the world's largest salt water plunge close to where the Seaside Lagoon is today. There was even a beach that was piled high with Moonstones between Diamond Street and Herondo in Hermosa.

Entrepreneur Henry Huntington  realized what an attraction Redondo was and established the Red Car Service that ran from downtown through Beverly Hills and along the coast through Manhattan and Hermosa to the boardwalk in Redondo.  Huntington decided that Redondo needed another draw and in 1907 or so he hired George Freeth. George was a tall good looking Hawaiian -Irish  kid who knew how to surf.  Huntington billed him as the "man who could walk on water" and soon thousands came to Redondo to see George hit the shoreline on his 8 foot redwood surfboard.  George quickly became not only the first surfer on the California coast  but the Father of California surfing.  

 In 1892 the residents  decided it was time to become a city and with a vote of 177-10 the deed was done. As the city continued to grow  the pier as a port  became less and less important.  By the late 1920's storms had destroyed two of the wharves and in 1926 Wharf #3 was demolished.. along with the grand Hotel Redondo.  The fabulous resort had been done in by the Volstead Act or prohibition as it was popularly know as by the local folk.

During the Depression years until 1940 Redondo was home to the Gambling Ships complete with bad guys, mob guys, alcohol and gorgeous gals.. This was the stuff of movies. With the advent of World War II the gamblers were gone and the city settled down.  The  Monstad Pier was enlarged and soon restaurants and shops were built over the water.  Although storms and fires have destroyed major portions of the pier over the years today it still remains a part of life in Redondo Beach.

In the late 1960's the City of Redondo made a tragic mistake and agreed to tear down the original downtown area and turn the area over to developers.  Fortunately Riviera Village is still a gem in South Redondo but losing an historic place like the original town was a terrible thing for the city to let happen.   Over the years the city has not evidenced a great deal of support for the history of Redondo and many of its buildings of historic value have been demolished.   The Redondo Beach Historical Society has a yearly tour of some of the homes that have survived.  There are not many left and this is a way to see some of the beautiful homes that are part of Redondo's heritage.

Redondo Beach is home to The Civic Light Opera of The South Bay.  The CLOSB has come a long way since it first began and has won a number of Ovation Awards for best show right under the nose of the Dorothy Chandler and Pantages theaters. The Ovation Awards are LA's version of the Tony's on Broadway.  Season tickets are reasonably priced and make a great gift.  The Lobster Festival in May is a must...there are pots  of lobster and corn for thousands.  The annual Super Bowl 10K on Super Bowl Sunday  brings out the best runners in town.  The Redondo Beach Pier is  a great place to visit.  There are fresh fish markets where you can take fish home or have it cooked to order.  There are  some wonderful restaurants you don't want to miss..  Old Tony's  has best view in town.   There is a new restaurant on the site of Tony's Fish market.. Maison Riz.  It is upscale and  features French/Japanese cuisine.   Kincaids is another upscale  restaurant on the north end of the pier.   In the middle is the El Torito Grill and an Irish Pub Kilkenny's.

Over the years a number of single family homes have been torn down and replaced by townhome style condos in both North and South Redondo.  There are only a few neighborhoods in the city that remain as strictly single family areas.  The TRW tract in North Redondo is one and  the upper avenues in South Redondo is the other. There are parts of the  streets east of PCH and south of Torrance Blvd that are also single family neighborhoods.  An interesting note is that the Lady Streets (Gertruda, Irena, Juanita, Lucia, Maria, Guadalupe, Francisca) were supposedly named after the daughters of the owner of Rancho Redondo.  I don't know if it's true ...but it should be as it makes a great story. 

Redondo is the largest of the Beach Cities and over the years has been divided between North Redondo and South Redondo with 190th street as the informal boundary.  The demographics  from the 2000 census  say the city is 6.3 square miles, with the population fairly evenly divided between renters and home owners.  I believe that number has changed in the last few years with a higher number of homeowners.  The median income was $69,173.  In 1900 the population was 885 in 2005 the population was estimated at 62,000 with slightly more males then females.  The city has definitely grown some over the years.  

 Search North Redondo Homes for sale.

Search North Redondo Townhomes/condos for sale

Search North Redondo Income Property for sale

Search South Redondo Homes for sale

Search South Redondo Townhomes/Condos  for sale (West of PCH)

Search  South Redondo Townhomes/Condos for sale (East of PCH)

Search South Redondo Income Property for sale

 
School District

There are 8 elementary schools... 5 in North Redondo and 3 in South Redondo.

There are 2 middle schools one in North Redondo and one in South Redondo.

The High School  is Redondo Union in South Redondo.

Library

 Redondo Beach has two libraries.. one in North Redondo ( under construction until June 2010) and the main library at the corner of PCH and Diamond.

City of Redondo Beach

MEETINGS:
City Council:First and third Tuesday at 6:30 PM
Planning Commission: Third Thursday at 7:00PM
Harbor Commission: Second Monday at 7:00 PM
Public Safety: third Monday at 7:00 PM
Library Commission: First Monday at 7:00 PM

Redondo Beach: Home Sales January-June 2000-2009

The Avenues... South Redondo...

Redondo Beach is a unique market within the Beach Cities real estate market. North Redondo is the most affordable area of all the Beach Cities. It is the point of entry for many buyers who want to live within biking distance of the water but can't afford the home prices in Manhattan, Hermosa or South Redondo.

 South Redondo is the oldest of the Beach areas and still maintains a number of homes built in the "teens" - '30's. Many have been well maintained over the years and can be viewed during the Redondo Historical Homes tour. Sadly others are destined for the wrecking ball due to years of neglect. Generally South Redondo home prices are lower then Manhattan and Hermosa for two reasons... commute time and non-conforming zoning in most of the residential areas.

The Avenues in South Redondo feature classic examples of the types of architecture that were common in so much of Southern California through the 1950's. These streets are wide and are just a short walk to the sand.

North Redondo is often the precursor to the direction of home prices ... either up or down around the Beach Cities. It is the entry level buyer who often determines when prices begin an upswing and when the cycle stops. The upper level may sustain price increases in some areas but the entry level buyer signals price comfort levels. In 2006, the North Redondo townhome market virtually came to a halt for 4 months as entry level buyers began to question the market. While sales picked up in the spring of 2007, the handwriting was on the wall... so to speak.

As real estate prices in Manhattan and Hermosa are hovering between 2005/2004 prices, both North and South Redondo have seen home prices decline to 2004/2003 prices with sales volume well below those years. If you are trying to "time" the market it might be a smart move to keep an eye on this often overlooked segment of the market. While the Manhattan Beach home market is often the last to drop and the first to recover; the North Redondo market usually gives a clue to where the overall market is headed when it begins to stabilize.

Redondo Beach: Sold January-June 2000-2009

South Redondo: Sold January-June 2000-2009(click on graph to enlarge)

North Redondo: Sold January-June 2000-2009

As home prices in the South Bay-Beach Cities continue to decrease the good news is that there are more properties that are reaching the affordable price range. The bad news is that most of them need fixing...new flooring, paint, kitchen updating, etc...

That is what makes 222 S Irena #C Redondo Beach, CA a good value.... the fixing has been done. The kitchen has been remodeled... the flooring is beautiful.. and the view is lovely. This one is ready to welcome a new owner....The drop in interest rates in the last few days makes this good deal even better...

If you are loooking for a nice home on a good street in South Redondo at an affordable price please joine me Saturday from 1-4 to preview this lovely home....

Public Open House: Saturday 1-4 pm

The property is priced to sell at $617,500.

Please join me Saturday to view this wonderful home. For a private viewing please call me at 310-721-7438 or e-mail me.

Come and take a peek at this updated townhome on one of the best streets in South Redondo. This beautiful tree lined street is walking distance to the Beach and the Pier.

Value Priced at $624,500

Public Open House: Sunday 1-4 pm

This is a delightful home with hardwood floors and a new kitchen. There are 2 bedrooms.. each with private bath. The upper level features a "great room" style living area that is perfect for entertaining and a powder room.. The kitchen has been totally remodeled with granite counters and tile floors. Each bedroom has a private patio and there are two additional decks off the living room and kitchen.

The property is priced to sell at $624,500.

Please join me Sunday to view this wonderful home. For a private viewing please call me at 310-721-7438 or e-mail me.