Homes in the Golden Hills of Redondo Beach

Pros and Cons of the Golden Hills in Redondo Beach

See the Positives and Negatives of Homes in the Golden Hills

Homes in the Golden Hills of Redondo Beach
Homes in the Golden Hills of Redondo Beach

As many of my clients are from out of the area or out of state, they seem to have a notion that the South Bay is simply one big city and there aren’t all that many differences between Manhattan BeachHermosa Beach and Redondo Beach.  The reality is that even within these cities the individual neighborhoods vary quite a bit.  Due to the sheer size of the city, Redondo Beach is one of the more varied communities in the South Bay in terms of types of housing, size and age, and price.

The area just east of Hermosa and just South of Manhattan (see Golden Hills Map)is a hilly section of Redondo Beach known as the Golden Hills.  Knowing the areas pros and cons is an important step in determining whether the Golden Hills is the right area for you.  The homes in the area have a not entirely flattering nickname and are called “tall and skinnies”.  Drive down any street in the area and you’ll see why.  When the homes were originally built the area was subdivided into 25×100 foot lots.  With no alleys in the rear, this means that the frontage of the home required a 2 car garage and as you’ll notice, the homes look somewhat similar.  So here’s the pros and cons of the area.

Pros of Life in the Golden Hills:

  1. You get a bigger house for a lower price.  Many of the homes in the area are in the 1700+ square foot range with spacious living rooms, open kitchens and good sized bedrooms.
  2. Prices for either smalller square foot houses or fixers generally start in the high $1,000,000k range and newer, larger homes can sell for over $1,600,000.
  3. Location is excellent.  Being just east of Hermosa Beach, means that the Golden Hills is very close to the beach.  Saying it’s a walk or bike ride is a bit of a reach, but it’s not far off.  Being this close to the beach means cooler summers and warmer winters……and who doesn’t like that.
  4. Upgrades.  Many of the homes in the area have been very nicely upgraded and well taken care of.  Those that haven’t can be purchased for an even greater discount.
  5. Price.  Look just west in Hermosa and the price jumps considerably.  Try to find a home this size in other parts of Redondo and expect to pay $100k more.

Cons for the homes in the Golden Hills:

  1. The biggest complaint that I get to the area is the bedroom configuration.  With a 25 foot wide lot there’s only so many options the original builders had.  The general layout is living room (often with vaulted ceilings), kitchen and master bedroom upstairs, and garage and 2 bedrooms downstairs.  The master on one level with the other bedrooms downstairs is often an obstacle with families with small kids or expectant parents.
  2. Proximity to your neighbors.  Again with lots 25 feet wide, and front doors usually needing to be on the side of the house due to the garage, don’t generally mean much room between you and your neighbor.
  3. Lack of street parking.  With 2 car wide driveways in front of every 25 foot wide lot, it doesn’t leave much room for curbs.  On the other hand a two car garage plus 2 driveway spaces may make that a non factor.
  4. Small yards.  Generally these homes have a small yard in the rear without a front yard to speak of.  Again this can be a positive or a negative, depending on your situation.

Overall the Golden Hills offers a great opportunity to own a good sized home, at a good price and just a short drive to the beach.  See Recent Golden Hills home sales.

For more information on the area of Golden Hills or other neighborhoods in the South Bay, feel free to contact me.

Keith Kyle – Realtor, e-Pro – Vista Sotheby’s International Realty 2501 N Sepulveda Blvd Manhattan Beach, CA 90266 310-251-2344

Homes and Real Estate in the Golden Hills of Redondo Beach

Community info and current listings for the Golden Hills in North Redondo

Located just east of Hermosa Beach, the “Golden Hills” section of RedondoGolden Hills homes for sale Beach offers great home values for the South Bay. The homes in the Golden Hills are affectionately known as the “tall and skinnies” and many offer great square footage for much less than in neighboring Hermosa and Manhattan. Redondo Beach offers great schools, proximity to the beach, and an abundance of activities. Home prices generally range from the low $1,000,000’s to over $2.4M for new construction and the homes are usually 3-4 bedrooms.

Current Homes for Sale in the Golden Hills of North Redondo Beach

Find your home in the Golden Hills with our simple targeted home search , visit our Redondo Beach real estate information to search by home type, price or neighborhood or search on your own with our free MLS access. If you are looking to buy or sell a home or investment property in the Golden Hills….we can help. Find out why Keith Kyle and Vista Sotheby’s International should be your Golden Hills Realtors®. From new construction, to “tall and skinnies” to townhomes and condos, we can help.

Free Targeted Golden Hills Home Search

Know about New Golden Hills Homes First with Daily Email Listing Updates

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South Redondo homes

Is the South Bay Real Estate Market Slowing Down?

If August home sales numbers were any indication the market is continuing to go1108 Harper Redondo Beach crazy, but from on the ground experience the South Bay real estate market is beginning to slow down a bit.   There are likely several factors that seem to be driving this slowing market:

  1. Seasonal changes:  The market always slows a bit once schools are back in.  Summer home buyers eager to get a home in certain school districts keep the market buzzing in June, July and August.
  2. Interest rates:  While still historically fantastic, it’s taking buyers a little while to grasp that we’re no longer likely to see rates in the 3% range, or even the mid to low 4% range.  Rates had to adjust and although rates are still tremendous, borrowers are still suffering from a lowest rates ever hangover.  In time the current rates will become the new normal and buyers waiting on the sidelines will once again jump into the fray.
  3. Prices:  August year over year prices in the area neared a 25% gain….in just a year.  That’s a pretty incredible increase and between the increases and many buyers frustrated with a market stacked against them have decided to sit it out for a while and hope that we eventually reach a balanced market.

Whether all of this indicates a trend towards a cooler market, or is just a temporary correction remains to be seen, but either way 2013 has been one of the quicker rebounds in real estate that we’ve ever seen.

July 2013 Home Sales in The South Bay – By the Numbers

July was a record month in many South Bay cities as we saw a multi year high number of new listings, pending homes sales and closed home sales.  This may be the increase in home inventory that eventually balances the market as opposed to the drastic seller’s market at the moment.

El Segundo  –                      Active Homes for Sale 18   –   Pending Home Sales 14   –   Closed home sales 16

Hermosa Beach   –             Active Homes for Sale 31    –   Pending Home Sales 25    –   Closed home sales 29

Manhattan Beach  –          Active Homes for Sale 68    –   Pending Home Sales 37    –   Closed home sales 45

Palos Verdes Estates  –     Active Homes for Sale 42    –   Pending Home Sales 18    –   Closed home sales 27

Rancho Palos Verdes  –    Active Homes for Sale 101   –   Pending Home Sales 56    –   Closed home sales 44

Redondo Beach  –             Active Homes for Sale 102   –   Pending Home Sales 104   –   Closed home sales 110

Torrance  –                         Active Homes for Sale 159   –   Pending Home Sales 129   –   Closed home sales 158

Redondo Beach Pocket Listings

So What’s All the Fuss about Pocket Listings in Redondo Beach

Understanding off market and pocket listings

With the extremely tight inventory of homes for sale in the South Bay, many buyers approach me looking for off market, or pocket listings.  Pocket listings and exclusive listings are the hot trend at the moment as eager buyers clamor for a chance to purchase a home without all of the competition.    In this market knowing about it first may not ultimately make a difference, but it certainly helps.  Many agents seem to be trying to keep listings private as well in the hopes that perhaps they can represent both buyer and seller, which is much easier if fewer agents know that the home is for sale.  So what do the terms actually mean?  A pocket listing can be anything from a realtor simply knowing about a home that a seller might consider selling and not having a listing agreement, to something coming to the market but not yet on the MLS, to the intentional withholding of the listing from the MLS.

But is it beneficial to the seller? 

Redondo Beach Pocket Listings

In terms of price, exposure, etc. the answer is generally no.  The more exposure the home gets, the more potential buyers see it, and the likelihood that it will sell for a better price and with more favorable terms for the seller.  Eliminate that competition and generally speaking the chances of such favorable terms decrease.

There are very legitimate reasons for exclusive or “pocket” listings and for keeping the property off the market…..work being completed, tenant issues, or simply a seller who doesn’t want the world touring their home.  Seller’s just need to be sure that the reasons for keeping a home off of the South Bay MLS are beneficial to them….and not just to the listing agents.

Whether keeping a listing from the MLS is good or bad for the seller ultimately depends on the situation and whose best interest is the primary reason, but working with a top local realtor who has the network and knowledge to seek out these possible opportunities is certainly key for the buyer.

So What’s All The Hype about “Off Market” Redondo Beach Listings These Days?

With the local real estate market so active, home inventory at near record lows and buyers in a frenzy to find homes, the buzz is all about “off market” listings.  So what does that really mean and how can it benefit you?  Off market listings can mean a number of different things which can include:

  • Exclusive listings – This is a situation in which a realtor has a signed listing agreement but the seller doesn’t want it on the MLS for some reason.  This can sometimes be due to the home having tenants, can be due to sellers simply not wanting to go through the hassles of open houses, endless showings, etc.  This usually will get the seller a lower sales price, but for many it’s well worth it.  It’s great for home buyers to know about these listings as the competition can be far less fierce.  Less competition can often mean better price and terms for the buyer
  • Upcoming listings – sometimes a home will be coming up for sale but just not listed yet.  The usual reason is that the seller is getting it ready for the market.  This can mean anything from doing major work/upgrading to simply cleaning it up.  If you can get in early before the seller has spent money there is an opportunity to buy at a lower price.
  • Pocket listings – this is a situation in which someone (usually a realtor) knows of someone that “might” consider selling.  As they usually do not have a listing agreement signed it’s tough to get much information from them.  Agents often contact me with pocket listings and may give a street or a vague description but often not an actual address.

There are other opportunities as well with some sellers taking a “make me move” type approach in which the right price just may get them to consider selling.  Other potential opportunities may include knowing which homes have a notice of default or notice of trustee’s sale, and they may consider doing a short sale (although most lenders require the home to be “on the market” for them to consider)

So how do you find out about off market listings?  The best way is to find a local realtor that spends time networking with other agents and homeowners.  Intimate market knowledge is critical as many top agents share listing information prior to it going on the MLS or being marketed to the masses.  I generally hear of 10 listings or so each week that are off market or not yet listed and this can be a tremendous advantage in a market that is so competitive.  Contact South Bay realtor Keith Kyle for information on off market listings and homes not yet on the MLS.

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Vista Sotheby’s International Realty is one of the top real estate brokerages in the South Bay and Southern California with offices in Redondo Beach and throughout the South Bay

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