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

Let Your Renter Help Pay the Mortgage – Redondo Beach Duplex

This is an absolutely ideal property for the investor or owner user, with 2 detached homes in a great North Redondo Beach neighborhood. Let your tenants help pay your mortgage! Each home has been lovingly maintained and updated with gleaming hardwood floors, recessed lights, updated kitchens and baths and so much more. The front home enjoys a very large fenced grassy front yard, rear patio, spacious kitchen, private laundry room, 2 bright bedrooms and a very bright and inviting living room. Rear home features 2 bedrooms plus a spacious bonus room that can be used as an office or 3rd bedroom.

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565 Esplanade Redondo Beach - Surfrider condos

Oceanfront Homes For Sale on the Esplanade in Redondo Beach

Oceanfront Condos on The Esplanade in South RedondoEsplanade condos

Living at the beach may be more affordable than you think as Redondo Beach zoning allows for larger ocean front condo buildings not seen in other areas of the South Bay.   At the moment there are far more oceanfront condos, townhomes and homes for sale then in recent memory.  The current homes range from 1 bed 1 bath condos in the Sand Castle, to one of the more impressive oceanfront homes ever to come on the market at 717 Esplanade.  7 of the current homes for sale are ocean front condos on the Esplanade with the bulk of the additional opportunities being single family or multi unit.  The home at 739 Esplanade is one of the more intriguing properties as it’s currently 3 separate levels, each with kitchen and baths that can be torn down with the ability to build townhomes, or a very large estate, but may also work as an owner occupied investment property with owners living in one of the 3 levels and renting the other two.

See the current oceanfront homes for sale on the Esplanade in South Redondo Beach

Golden Hills of Redondo Beach

Inventory, Home Sales, Pendings and Prices All Rising in Golden Hills of Redondo Beach

Unlike the adjacent neighborhoods of Manhattan and Hermosa Beach, the real estate market in the Golden Hills of Redondo Beach, just east of Hermosa has been somewhat unique in recent months.  Everything seems to be on the rise with the number of active homes for sale increasing, sales increasing, pending home sales increasing and prices on the rise.  The area is home to a rather unique type of single family home known as a “tall and skinny” in the local real estate world.  With lots dimensions at 25 x 100 and minimal setback requirements, most homes are only separated by 5 feet and is something not seen in many other neighborhoods. Read more about the pros and cons of Golden Hills Real Estate.  According to Redondo Beach real estate specialist Keith Kyle, “we’re seeing homes selling over list price, with multiple offers on a fairly regular basis and prices have rebounded considerably in 2013.”

Real Estate Statistics and Trends for The Golden Hills in Redondo Beach

The report above shows the recent housing activity, including active homes for sale (light green), pending home sales (red line) , and closed home sales (dark green).

The chart above shows the average price per square foot in the Golden Hills

The chart above shows the average days on market as well as the % of sale price compared with the list price

The chart above shows the median home prices (light blue) as well as average list prices and average sold prices

Redondo Beach real estate trends

Oh this crazy market……how home prices are getting out of control

I often tell my statistically driven friends and clients that although “trendlines” andRedondo Beach real estate trends statistical data can help explain what is happening and what may happen in real estate, it often overlooks a very key piece of the puzzle. Unlike other products people buy and sell, home sales are often driven by both emotion and perception. It was only a few months back when the perception was that prices would continue to be flat, or even go down slightly, and the biggest challenge I faced was convincing buyers that now was a good time to buy.

Oh how things have changed in such a short time. Very quickly the market shifted to favor sellers and as soon as buyers decided that they may miss their opportunity, things have quickly gotten out of control. Low inventory, low interest rates, short sale and REO “deals” drying up, and pressure from large investors buying and flipping everything they could find has made it almost impossible to buy a home. How quickly we forget all that created the bubble in the first place and buyers are now chasing homes, overbidding, paying too much, waiving the appraisal and just about everything else that once again appears unsustainable.

In my own personal experience the last 4 offers I have put in for homes in Manhattan Beach and Redondo Beach have required that my buyers waive their appraisal contingency….the sellers knowing full well that the home wouldn’t appraise. No doubt this is great for sellers, but again it appears unsustainable and will likely cause problems in the near future.   We’ll likely continue to see this incredible turnaround until inventory and interest rates move away from near record lows.  I’m looking forward to the days of a balanced market, in which well priced homes sell quickly and buyers have a chance of paying market value.   In the mean time, if I were a  South Bay home seller who had given some thought to list my home…..it doesn’t get much better than this.

Oceanfront Condos Abound On the Esplanade in Redondo Beach

If you dream of big ocean views, the sounds of the sea, and living by the beach….Redondo Beach may be an ideal place to consider.  Unlike neighboring Manhattan Beach, Hermosa Beach and Palos Verdes, with oceanfront homes meaning a multi million dollar price tag, Redondo Beach offers a far more affordable way of living at the beach.  Currently there are 6 condos that either offer ocean views or are ocean front in South Redondo.  According to top Redondo Beach realtor Keith Kyle, “Redondo Beach has very different zoning than Manhattan or Hermosa, which allowed for high rise complexes to be built in the 1970s.   This allowed for a much larger number of ocean front and ocean view homes which has kept prices far more affordable.  Below is a list of the current condos located in The Village, Seascape and the various buildings along the Esplanade, Redondo’s oceanfront street.

Take a tour of some of the buildings mentioned above and get a better sense of your oceanfront condo opportunities.

 

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Keith Kyle – Licensed Realtor – Vista Sothebys International Realty – DRE#01712785

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