Get all your Holiday and  December birthday gifts wrapped at the Manhattan Beach Mall..







Are you gift wrapped challenged? Do you have a lot of gifts to wrap? Are you so busy that you don't need one more thing to do? If you answered YES to any of these then let me offer you a solution.

The Neptunian Woman's Club of Manhattan Beach will wrap all your holiday gifts.. whether you bought them at a Mall store or made them at home.  We'll wrap one gift or one humdred and the fee is tax deductible.

This is one of our largest fund raisers of the year. Proceeds go toward scholarships for Manhattan Beach students. Each year we give academic scholarships to local students in Art, Music, Literature, Fashion Design, Nursing and for women who go into Police work. The Neptunian Woman's Club is the oldest Woman's club in Manhattan Beach. We were the driving force that got the city incorporated, the library system started and opened Pacific school.

These are just a few of the things we have done over the years as part of our philanthropic services for the City of Manhattan Beach. You will find us at the Hometown Fair, the Pier Lighting, the Santa Float, the Fireworks on Sunday and at the Manhattan Beach Mall wrapping away.

Bring us your gifts and we'll make your life easier..... Remember...Big or small... we'll wrap them all.. and it's tax deductible..

** We will be wrapping from December 10-24, 2011...

Beach Cities:  Homes and townhomes sold in September 2011

North Redondo 2 on a lot Townhome

September  is always a tough month for real estate sales in the South Bay-Beach Cities.  This September was no exception.  The good news is that the number of sales was up for Hermosa Beach and South Redondo over 2010 and  just slightly less in North Redondo, Manhattan Beach and El Segundo.  The bad news( for sellers) and good news (for buyers)  is that prices were down in almost all the Beach Cities.  

Much of the decline in price levels is due to short sales.  In the last two weeks North Redondo is posting significantly lower prices for a number of REO's and short sale 2 on a lots and buyers are waiting in line to purchase at the new price levels.   Another significant factor is that many owners want to sell before the end of the year and  have  realized that they need to cut their asking price now to  be sure escrow closes by the end of the year. 

But before everyone gets  excited a lot has been happening this week that may change the picture a bit.  The Administration announced yesterday their new plan for refinancing properties of  homeowners who  owe more than their home is worth .   But as all programs put forward by the government there are a few hitches in their get along so read the fine print carefully before you get too excited. 

   If all goes as the administration hopes folks will be refinancing right and left.  In fact banks will be so busy with refi's they might not be able to deal with buyers who want to purchase a new home.  Dan Green the author of The Mortgage Reports has written an interesting article on  why interest rates may be headed upward in the future.    


South Bay-Beach Cities: Sold September 2011                    

1450 Manhattan Beach Blvd # D Manhattan Beach..

Open Sunday May 15, 2011 1-4 pm

Manhattan Beach address for a North Redondo Beach price!



Not a misprint ...   Now $499,900...

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...The 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..




$499,900

Manhattan Beach March 2011

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...The 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..

                                                          $525,000

A few months ago I posted about some of the issues I'd had with the appraisal on a fixer property I sold in Manhattan Beach.   Lenders and appraisers have tightened  guidelines on property standards to the point that "fixer homes" may be a thing of the past.  I'm not talking about homes that need kitchens and baths updated with granite counters or wainscot on the dining room wall.  I'm talking fixers... where everything needs help.

For years one of the basic tenents of real estate was that  buying the worst property in the best neighborhood was a smart thing to do.  Sweat equity would bring major benefits to those who were handy with a saw and hammer.  Those days may be gone.

 I have a home that will soon be on the market in East Manhattan.  It is a trust sale so  there will not be any major updates to the property.  However new paint, carpet and  landscaping along with minor repairs will not be inexpensive.   Through the grapevine a number of folks have heard about the home and  have expressed interest in buying before we start work.   The kicker is that as the owners tore out the old carpet and started some termite work on the exterior, so  it may not appraise unless they paint and put in new carpet... even though a new buyer will likely rip out the carpet and repaint the interior and exterior.

I understand the issues involved from the bank and appraiser's viewpoint.  What happens if the lender makes a loan and the owners do nothing?  The bank made a large investment on a home that is not in good shape and if the loan goes sour they will have to try and sell a "fixer".  The lender will need someone to blame and that means pointing fingers at the appraiser if they don't call out the condition of the home. 

There are still a number of homes that are headed to foreclosure where the owners have not made payments for many months or in some cases years.  It is not uncommon for these owners to take out as much as they can from the home including doors, windows, floor coverings and even light switch plates.  Most banks don't want to be in the business of  fixing up properties in order to get them on the market.  But that is what they may have to have to do with these places if no one can get a loan on them in their "as is " condition.



The only folks who will be able to purchase "fixers" will be those with a lot of cash who can purchase without obtaining a loan. That means more homes will be going to investors who want to flip the property rather then to buyers who want to occupy the home. The banks are again creating a situation that may not be in anyone's best interests over the long run. Sometimes the things banks do just don't make much sense.



If you are thinking about selling your home  and were going to list it as a fixer you might have to rethink that plan or be prepared to wait for someone with all cash... and that could be a long wait.