redondo beach

Are Foreclosure Opportunities a Thing of the Past?

As a short sale listing expert, I’ve tracked the number of foreclosures, meaning both short sales and bank owned homes (REOs) in the South Bay for the past few years. It wasn’t long ago that each month there would be consistently over 100 short sale homes listed in Torrance alone. That certainly isn’t the case any longer. As of April 10th 2013 only 29 short sales were on the market in the cities of Lawndale, Gardena, Manhattan Beach, Redondo, Hermosa, Palos Verdes, El Segundo, San Pedro and Torrance combined.

The chart above shows the number of active short sale listings, pending escrows and sold homes for each month in the cities mentioned above. The light green bar shows the active listings, dark green shows sold homes with the red line showing the pending or “in escrow” homes.

in Foreclosures, Market Trends Posted by Keith Kyle

February 3, 2013March 8, 2023

Wondering Why You Can’t Find that Dream Home in the South Bay?

It’s no secret that it’s a frustrating world out there for home buyers. Oh how quickly things turned from a strong buyers market to a market clearly favoring sellers. According to Redondo Beach Realtor Keith Kyle “There is incredibly low inventory everywhere and the high demand areas of the South Bay such as Manhattan Beach, Hermosa Beach and Redondo Beach have little to offer buyers at the moment”. To make life even more frustrating for Beach Cities home buyers, is that the moment a well priced home comes on the market, the frenzy starts with buyers often going way over asking price, waiving the appraisal contingency and simply buying homes above current market value. The chart below sums it up pretty clearly with the number of active homes for sale in the South Bay plummeting from over 1500 a year ago to just over 600 in December of 2012. This is while the number of closed sales has remained steady.

To view the current homes for sale visit our South Bay MLS search, or click our recent home sale page to see the most recent home sales in the South Bay cities of Manhattan, Hermosa, Redondo Beach, Torrance, El Segundo and surrounding areas.

in Communities, Golden Hills, Hermosa Beach, Hollywood Riviera, Manhattan Beach, Market Trends, North Redondo Beach, South Redondo Beach Posted by Keith Kyle

January 17, 2013March 8, 2023

The Days Of Redondo Beach Short Sales May Be Winding Down

Although the South Bay and certainly the Beach Cities were fairly protected from the wave of short sales and bank foreclosures that plummeted prices in other areas of California, there were opportunities out there. As Redondo Beach is both larger than neighboring Hermosa and Manhattan Beach, and typically caters to more first time home buyers, it felt the foreclosure brunt the most and it wasn’t a challenge to find “deals” on such properties. Gone may be the days of short sale deals and homes selling below market value, as the inventory of both standard sales, and distressed home sales has continued to decline while demand has grown. The influx of investors buying up short sale and foreclosures added to the pressure. As of December 2011 there were 46 active short sales and foreclosures in Redondo Beach and just a year later the inventory was down to 9 distressed sales. This will likely lead to rising prices as these short sales were the driving factor behind the declining prices over the past few years.

in Communities, Foreclosures, Market Trends, North Redondo Beach, South Redondo Beach Posted by Keith Kyle

December 27, 2012March 8, 2023

Want to Know Why You Can’t Find a South Bay Home?

If you’re like many South Bay home buyers, you’re probably experiencing the frustration that so many others are….there are no homes to buy. With this incredibly low inventory the few homes that do come on the market don’t last more than a few days and often sell for prices that would have been a major challenge just a few months ago. It might be temporary, but back are the days of multiple offers, conditions favorable to the sellers, offers over the list price and a number of cash buyers to compete with. Inventory just keeps going down with fewer and fewer available homes to by. If it’s hard to picture just what’s happening the chart below couldn’t be clearer. The light green bar shows the number of active homes for sale in the cities of El Segundo, Gardena, Harbor City, Hawthorne, Hermosa Beach, Lawndale, Lomita, Manhattan Beach, Palos Verdes Estates, Palos Verdes Peninsula, Rancho Palos Verdes, Redondo Beach, Rolling Hills, Rolling Hills Estates, San Pedro, Torrance. The teal columns show sold homes and the red bar shows the pending home sales.

in Communities, El Camino Village, Fusion South Bay, Golden Hills, Hermosa Beach, Hollywood Riviera, Homes, Manhattan Beach, Market Trends, North Redondo Beach, Rancho Palos Verdes, South Redondo Beach, Torrance Posted by Keith Kyle

November 21, 2012March 13, 2023

South Bay Brokers The Top Sales Volume Per Agent

Congratulations to South Bay Brokers for being recognized by the Los Angeles Business Journal as the South Bay real estate brokerage with the highest residential sales volume per agent. According to Keith Kyle, a top producing agent in the Manhattan Beach office, “what makes South Bay Brokers so unique is that they really focus on hiring and training full time agents. While many other real estate firms focus on hiring as many new agents as possible as that’s often good for the brokerages bottom line, South Bay Brokers thinks that as every agent is a representative of their brand, it’s critical that those agents treat real estate as a full time profession and naturally leads to long term and repeat clients”. This is the 23rd straight year in which South Bay Brokers was recognized for this achievement.

South Bay Brokers logo

in Manhattan Beach Posted by Keith Kyle

November 14, 2012March 8, 2023

Home Listings on the Decline in the Beach Cities Area

Beach Cities Real Estate Market Update

Home Listings on the Decline

The number of frustrated South Bay home buyers (and buyers agents) continues to rise as the inventory of available homes in the South Bay and Beach Cities continues to decline with a multi year low for the month of October. October closed out with 224 active homes for sale in Manhattan Beach, Hermosa Beach, Redondo and El Segundo which was dramatically lower than any other month and down over 50% from last September. Currently there are 216 homes for sale with the downward trend appearing to continue. Pending sales were on the rise as well with October closing with 180 homes in escrow. That’s an unbelievable ratio of active to pending sales and something not seen in many years. Click here to view the current homes for sale or to see October 2012 home sales per city.

in Communities, Hermosa Beach, Manhattan Beach, Market Trends, South Redondo Beach Posted by Keith Kyle

Are Foreclosure Opportunities a Thing of the Past?

Wondering Why You Can’t Find that Dream Home in the South Bay?

The Days Of Redondo Beach Short Sales May Be Winding Down

Want to Know Why You Can’t Find a South Bay Home?

South Bay Brokers The Top Sales Volume Per Agent

Home Listings on the Decline in the Beach Cities Area

Beach Cities Real Estate Market Update

Home Listings on the Decline

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