homes in the Golden Hills of Redondo Beach

Homes and Real Estate in the Golden Hills of Redondo Beach

Community info and current listings for the

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

Golden Hills in North Redondo

Located just east of Hermosa Beach, the “Golden Hills” section of Redondo 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

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615 Esplanade Redondo Beach oceanfront condos for sale

Oceanfront Homes and Condos on The Esplanade of Redondo Beach

By Keith Kyle

When people think of life at the beach…they think ocean front. Unfortunately that idea is out of the price range of most people. Fortunately Redondo Beach has an option and it may be more affordable than you think. There are many options ranging from multi million dollar oceanfront estates, to the bluff top homes of Paseo De La Playa, to affordable condos that make life feel like a vacation!

Current Esplanade Oceanview Condos for Sale

Short sale inventory down in Redondo Beach

It wasn’t too long ago that most buyers had heard all of the horror stories involved with and wouldn’t go near them. In many conversations I explained to buyers that if they were looking for a “deal” a short sale was definitely the way to go. Unfortunately that just doesn’t seem to be the case any longer as short sale inventory is way down and anything initially priced below market value is quickly in escrow with multiple offers and most seem to be selling at numbers much closer to market value. According to Keith Kyle, a South Bay short sale specialist, “it’s a combination of lower inventory and a much more streamlined short sale process in which most short sales are going through. No longer are buyers overly cautious about potential short sales taking 6 months or more like they had in the past.” While short sale may not be the bargain they once were, they still are the likeliest source of well priced homes if and when you can find them. For a current list of foreclosures visit either our Redondo Beach foreclosures site, or our South Bay foreclosures and short sales listings.

3 on a lot townhomes in Redondo Beach

Redondo Beach Real Estate Explained – 3 on a lot Townhome

What is a " 3 on a lot townhome " in Redondo Beach?

One of the property types fairly unique to Redondo Beach is the “3 on a lot” townhome. When most buyers, especially those coming from out of the area, think of a townhome they picture endless rows of identical looking houses. Many buyers reach out to me looking for a single family home in the area, but unfortunately, can’t always afford single family homes in Redondo Beach. I often recommend that they consider a townhome as they’ll generally get nicer, newer, larger and better location for a lower price. Most of the time this idea is quickly rejected but once I show them the concept of a “two on a lot” or “three on a lot” they become far more interested. A great number of the lots in North Redondo are fairly large for the area at 50×150. These lots originally had some type of bungalow or duplex built in the 50s and many were long ago sold and knocked down. Due to zoning rules in Redondo Beach, what replaced them were most often townhomes.

A “3 on a lot” townhome is a building in which 3 units share the lot. These 3 on a lot townhomes are always connected, unlike some 2 on a lot situation, with shared walls between the front unit and middle, and back unit and middle. 

The most common details of the units are:

  • Front Unit – usually has some type of front yard that, while technically often “common use” areas, they are generally used only by the front owner.  The units often have square footage of 1700-1900, 3 bed, 2 1/2 bath, at least one balcony, attached garage and one shared wall (garage below and often living room above.  Most often there are two bedrooms and 1 bath downstairs, with the master bedroom, living room and kitchen upstairs.  These units are often the brightest but also front the street.
  • Middle Unit – The middle unit is often the least expensive of the three units due to the multiple shared walls and no yard.  Square footage is often between 1700-2000 square feet and either has the same configuration as above, or often times has 4 bedrooms with 2 downstairs, master upstairs and a very small 4th bedroom upstairs.  Living room is often smaller in the middle unit.
  • Rear Unit – Usually the most expensive as they almost always have some type of private yard in back.  Configuration is often the same as the front unit, but usually some type of sliding doors/French doors from one or both of the downstairs bedrooms accessing the backyard.

One aspect that many buyers find difficult to accept is the fact that there is an HOA.  Unlike large complexes with management companies, HOA board meetings etc., the HOA on a 3 on a lot can be very low key and sometimes not even active.  As the 3 owners collectively own a portion of the land, the HOA cannot be dissolved but in many cases it is inactive.  In general they are informal affairs with the minimal HOA fees (often around $175 a month) covering landscaping and shared insurance and each owner covering maintenance, and other items separately.  As with any property not wholly owned there are possible challenges and frustrations as owners (just like neighbors) don’t always see eye to eye on fixes, repairs like termite work, roof fixes, etc.  Overall the benefit of the townhouse concept is that the same price that may purchase a 1100 foot 2 or 3 bed 1 bath house in need of work, can purchase a 1800 foot 3 bedroom 3 bath townhome that’s far newer.  Real estate purchases almost always involve compromises and priorities and depending on just what’s important to a buyer in Redondo Beach, a 3 on a lot townhome might be an ideal fit.

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.

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Vista Sotheby's International

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

ADDRESS:

1801 S Catalina Ave, Redondo Beach, CA 90277

Phone:

310.251.2344

E-mail:

keith.kyle@vistasir.com

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DRE#01712785

keith kyle

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Sotheby's International

Welcome to Sotheby's International Realty representing buyers and sellers of fine South Bay and Southern California properties

Redondo Beach Real Estate & Homes. All rights reserved. Information deemed reliable but not guaranteed

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

The listing information set forth on this site is based upon information which we consider reliable, but because it has been supplied by third parties to our franchisees (who in turn supplied it to us), we cannot represent that it is accurate or complete, and it should not be relied upon as such. The offerings are subject to errors, omissions, changes, including price, or withdrawal without notice. All dimensions are approximate and have not been verified by the selling party and cannot be verified by Sotheby’s International Realty Affiliates LLC. It is recommended that you hire a professional in the business of determining dimensions, such as an appraiser, architect or civil engineer, to determine such information. Sotheby’s International Realty ® and the Sotheby’s International Realty Logo are service marks licensed to Sotheby’s International Realty Affiliates LLC and used with permission.