Fun Christmas and Holiday things to do in the South Bay Beach Cities  It's that special time of year..... we put lights on houses .... ornaments on trees..... and little kids know that magic is real. I love Christmas..... Many homeowners in Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo do some fabulous light displays and Christmas/Holiday decorations. El Segundo has a whole neighborhood of homes that bring visitors from near and far to see the wonderful winter wonderland displays... even in 75° weather. Santa seems to find a way to visit every home... on every street... in every neighborhood in Manhattan, Hermosa, Redondo and El Segundo right up to Christmas Eve. We have Tree lighting and Pier lighting in our communities. Don't miss the El Segundo Holiday Parade... it's just so much fun. Our little Beach towns have retained their unique Holiday traditions. If you want to know what's happening in the Beach Cities during the Holidays... just scroll down and you will find the major activities for Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo. It's a wonderful time of year... Oh and be sure to stop by the Gift Wrap in the Manhattan Mall... I'll be there .. so stop and say Hello..

 Manhattan Beach:

December 3, 2008 5:00 pm North Manhattan Beach Holiday Open House.

 December 5, 6, 7, 2008 The Sandpipers will hold their annual Holiday Home Tour in Manhattan Beach and Hermosa Beach. The tour runs from 10:00 am to 5:00 pm. Tickets start at $25. For information call    (310) 374-1748   

Saturday...December 6, 2008 from 4:30- 6:30 ..... Manhattan Beach kicks off December with the Pier Lighting Ceremony.   The Neptunian Woman's Club will be selling homemade cookies and hot drinks. See you there!

Sunday December 7, 2008 : Family Crafts Night: Jocelyn Center... 1601 Valley Drive... 5:00-7:00pm 

Saturday December 6-Wednesday December 24... 9:00 am - 9:00 pm.. The Neptunian Woman's Club will be Gift Wrapping at the Mall... proceeds go toward scholarships for Manhattan Beach students and the fees are tax deductible. Psssst..... We will wrap any gift ... not just ones bought at a Mall store.... See you at the Mall.....

Thursday December 12, 2008... Holiday Light Tour 5:00 pm Sunday December 14, 2008... Manhattan Beach Fireworks Show .... At the Pier...Entertainment starts at 3:00.. fireworks at 6:30 pm 

Santa starts his rounds Monday December 1, 2008.. and he will be looking for good little girls and boys until December 18, 2008.. Santa starts each evening at 5:30...( except December 15... when the float is parked from 6-7 pm) Dec 1 : Starts at 19th St and Ardmore Avenue, Pacific, Manhattan Beach Boulevard, and Valley Drive.

 Dec. 2: Starts at Blanche Road and 24th Street, 45th St, Ocean Drive, Marine Avenue, Grandview Avenue and the western City limits..  

Dec. 3: Starts at Blanche Roand and 26th St, Rosecrans Avenue, Pacific Avenue, Marine Avenue, Bell Avenue. .

Dec. 4: Starts at Redondo Avenue and 15th Street, Redondo Avenue, manhattan Beach Blvd, Aviation Blvd, Marine Avenue .

 Dec. 5: Starts at Marine Avenue and John Street. Pacific Avenue, manhattan Beach Blvd., Sepulveda Blvd. and marine Avenue.

 Dec. 8: Starts at Redondo Avenue and Mathews Avenue, Second Street, Aviation Blvd, Artesia Blvd and Peck Street

Dec. 9: Starts at Second Street and Rowell Ave. Second Street, Rowell Avenue, Artesia Blvd. and Peck

 Dec. 10: Starts at Ardmore Avenue and First Street. Manhattan Beach Blvd., Sepulveda Blvd., Longfellow and Avenue and Ardmore Avenue.

Dec. 11: Starts at 6th and Meadows. Eighth Stret, Aviation Blvd., Second Street, Sepulvreda Blvd..

Dec. 12: Starts at 8th Street and Johnson Avenue. Eighth Street, Aviation, Manhattan Beach Blvd, Aviation Blvd, Eithth Street and Sepulveda Blvd.

Dec. 15: From 6 to 7 p.m., the Santa float will be parked at the main pool of Manhattan Village. Starts at 7 p.m. at 18th Street and Redondo Avenue.

Dec. 16:  Starts at Marine and Rowell Avenue, Marine Avenue, Rowell Avenue, Manhattan Beach Blvd.,. and Sepulveda Blvd. 

Dec. 17:   Starts at Pacific Avenue and Valley Drice. Rosecaran Ave, Sepulveda Blvd. Ardmore Avenue and Pacific Avenue

  D ec. 18:  Starts at Ingleside Avenue and First Street. Marine Avenue, Grandview Avenue, 24th St, 25th St, Ardmore Avenue, southern and western city liimits

  Thursday December 24, 2008 ... 10:00-2:00 pm .... Holiday Party at Manhattan Heights Park .. 1600 Manhattan Beach Blvd

Thursday  evening... December 24, 2008... T'was the night before Christmas and all through the house.... You know the rest...

Hermosa Beach: December 5, 6, 7 , 2008 The Sandpipers will hold their annual Holiday Home Tour in Manhattan Beach and Hermosa Beach. The tour runs from 10:00 am to 5:00 pm tickets start at $25. For information call    (310) 374-1748    

Thursday December 4, 2008... The annual Tree Lighting will be at the Hermosa Beach Pier Plaza... 6:00 pm Saturday December 6, 2008.....Sand Snowman Contest... 9:00 am-Noon.. North side of the Hermosa Beach Pier..    (310) 318-0280   

Sunday December 7, 2008.....Hermosa Beach Christmas Village... noon-8:00 pm...Pier Ave and Pier Plaza Saturday December 13, 2008.....Breakfast with Santa... children 5 and younger... 9:00 am - 11:00 am.. Call for information.. reservations a must... $15.00 per child...    (310) 318-0280   

In Hermosa Beach Santa hasn't set his schedule... As soon as Santa and his helpers give out the information I will post it:

Thursday evening... December 24, 2008... T'was the night before Christmas and all through the house.... You know the rest...

Sunday December 14, 2008.....1:00 pm.. Holiday Parade.. Main Street

Open House Sunday November 16, 2008 1-4 p.m.

This is a great opportunity for buyers who want to move to the Hill section of Manhattan Beach.  The owner will consider holding a second trust deed for a qualified buyer.  This will allow a buyer to purchase with confidence in today's often confusing financial market.  Many lenders will not lend as much as they would a few years ago even to well qualified buyers.   If you have been considering purchasing a home in Manhattan Beach  but have been a bit unsure about financing alternatives this might be a home to consider.

511 Dianthus in the Manhattan Beach Hill Section offers a good choice for buyers who are deciding to follow a more conservative path. This lovely home has over 1900 sq ft, 3 bedrooms, 2 baths, large dining area, delightful family area and a great entertainment room with space to spare for the big TV and a view that doesn't stop. The serene rear garden and soothing sounds of the waterfall bring a sense of calm after a busy day. A new price makes this home worthy of consideration.... $1,269,000.

If you are not quite ready to make a formal appointment but would like to see this house why not visit me Sunday 1-4 p.m. to view this Manhattan Beach Hill section home.

Remember....Great views....nice home... good price! See you Sunday!

*Chryste Fisher of Milestone Mortgage in her morning update said that lenders will soon stop funding the Jumbo hybrid of $729,750. You must be in escrow by 11/15/08 and close by 12/15/08 to get this loan amount. As of January 1, 2009 the limit drops to $625,000.

Redondo Beach Library...Veterans Park

Yet despite all the issues facing us the South Bay economy seems to be holding up better then other areas of California and the Nation. The fact that our overall economic picture is more secure is one of the reasons the local real estate market hasn't taken more of a nose dive. If we continue to maintain a relatively good economic outlook we will survive a bit better then other parts of the state. That's not to say we are not affected by what is happening in the financial markets... we are.

The continuing high rate for a Jumbo 30 year fixed immediately springs to mind. I have had a sneaky suspicion for sometime now that one of the reasons for the continued high rates is that lenders would like to do away with a 30 year fixed rate on larger loans in the residential market. The risk factor is larger for these loans as they are usually held in house by lenders as part of their portfolio. The funny thing is that lenders holding loans they made is what lenders historically did. It has only been recently that financial institutions sold off mortgages to the secondary market. Maybe if these guys had to hold their loans in house they would have been a bit more prudent. Then again.. maybe not as many of the shaky loans were made at the behest of the government to further social programs.

One of the things that struck me while putting the August Sold 2008 report together is that inventory has gone down or remained about the same for all the Beach Cities. Inventory in Manhattan Beach continues to be higher in recent months then the other Beach Cities but by less then 10 homes for the last quarter. Redondo Beach and the North Redondo home and townhome market in particular, is showing a big drop in inventory and a rise in sales along with declines in price. The North Redondo market is usually a preview of where the markets are headed in the other Beach Cities. If that continues to be true we will likely see prices fall more and sales rise in Manhattan , Hermosa, South Redondo and El Segundo as we head into the fourth quarter. Then again if the market continues on the current course who knows what the future will bring.

South Bay-Beach Cities: Sold August 2008(click on graph to enlarge)

East Manhattan Beach Homes

Amid predictions of a total market crash, Manhattan Beach real estate just seems to keep hanging in... neither a spectacular crash nor a bounding recovery... just slow and steady. Prices seemed to have dipped a bit but they are still on the high side compared to other areas in Southern California.

July sales were about the same as June.. 26 homes and 6 townhomes closed escrow. Currently there are 165 homes and 30 townhomes for sale. There are 47 pending home sales and 11 pending townhome sales. So far this month 11 homes and 4 townhomes have closed escrow.

August is typically one of the slowest month as consumers get ready for back to school and one last vacation before school begins. This year school starts early August 27, 2008 so sales are even a bit slower then usual. We usually see these numbers reflected in September and October sales.

Manhattan Beach: Market Snapshot August 19, 2008

Manhattan Beach: Price Ranges August 19, 2008

Manhattan Beach: Market Snapshot July 17, 2008

Luxury home for sale in Palos Verdes

In the current market the emphasis is on falling prices and the demise of real estate as something of value. Every day consumers are bombarded with bad news about the huge numbers of foreclosures...real and potential ... along with banks that are going under or will soon go under. Everyday there is a new sound byte or headline that redefines the concept of affordable homes. The assumption by one and all is that price is the only consideration but that isn't always true.

At the opposite of the real estate price scale are is the Luxury home market. Wikipedia has a great definition for Luxury real estate. They note that luxury real estate can have many definitions depending on the country where you live. I found it interesting that one of the examples they use points out that a small waterfront property could be worth far more than a huge home in another location... but then we knew that.

A luxury home is usually defined as one that has a premium location, usually with great views. It may or may not be located on a large amount of land. The home can be large or on the small side depending on the location. Luxury homes have top of the line appointments that may be custom designed for that particular property. A luxury home can be a single family home, a townhome or a condominium... just ask Candy Spelling. Luxury homes are priced at a premium over other properties in the area.

Luxury homes are usually custom built for a specific client. In our market there are probably more luxury spec homes then are found in other parts of the country. We have a number of very nice and rather expensive homes in the Beach Cities and on the Palos Verdes Peninsula but the luxury home market in the South Bay-Beach Cities is small. In the South Bay the luxury homes market is in Manhattan Beach, Hermosa Beach, South Redondo and the Palos Verdes. Prices and definitions of a luxury home will change depending on the city. In South Redondo the luxury homes are townhomes along the Esplanade priced over $3,500,000. In Palos Verdes and Manhattan Beach the price point is $6.5 million and up while in Hermosa it is $6 million plus.

South Bay Luxury Homes:

Manhattan Beach: $6,500,000+
( Single Family homes)
Active listings: 4
Pending sales: 1
Sold ( Jan. 2008+) 1

Hermosa Beach: $6,000,000
(Single Family Homes)
Active Listings: 5
Pending sales: 1
Sold:(Jan. 2008+) 3

South Redondo: $3,500,000
(Townhomes)
Active: 5
Pending Sales: 2
Sold:(Jan. 2008+) 0

Palos Verdes Peninsula: $7,000,000
(Single Family Homes)
Active: 11
Pending Sales: 0
Sold: 2

The above numbers only reflect those properties that are listed and sold through the MLS. There are a number of Luxury homes that are built each year by private parties that are not reflected in these numbers. Although the luxury home market in the South Bay is small it does have an effect on values on adjacent homes. Anyone want to venture a guess as to the ultimate value of the home currently under construction on 3 full Strand lots in Manhattan Beach ... and how it will affect values of other Manhattan Beach Strand homes? I'm guessing values will not be going down.