2502 Rockefeller Land and 2411 Carnegie Lane I recently listed two 4 bedroom end unit attached townhomes and they each went into escrow very fast with multiple offers over the asking price. Buyer demand in the sub $900K price range in North Redondo Beach is absolutely crushing right now with many homes selling the first weekend on the market with multiple offers over the MLS asking price. One has already closed escrow for $26,000 over the MLS asking price. The 2nd one is pending but when it does close will be for over $900K from an $875K ask. Related articles 2224 Gates Ave Redondo Beach Detached New Construction Townhome - Ellis Posner Real Estate Redondo Beach Real Estate Micro Market Report | Single Family Homes Redondo Beach Real Estate Modern Townhome on The Avenues: 535 Avenue C Redondo Beach - Redondo Beach Real Estate 502 N Juanita Av # B,... Read more →
March 05, 2017
November 05, 2015
International Homebuyers May Not Play a Factor in the Coming Housing Market
International buyers are accounting for the smallest share of California home sales in at least eight years as prices climb and investors from China, the biggest source of foreign purchases, slow buying, according to the state’s Realtors group. The share of international buyers fell this year to less than 4 percent, compared with a peak of 8 percent in 2013, the California Association of Realtors said in a report Thursday. The findings are based on a survey conducted in June of about 1,000 real estate agents. Since 2008, the first year agents were surveyed on the subject, results have shown foreigners representing at least 5 percent of transactions. An influx of foreign money has contributed to soaring real estate prices in the largest U.S. state, particularly in coastal areas where demand is high and new inventory is limited. Buyers from mainland China, Hong Kong and Taiwan made up 43 percent... Read more →
October 11, 2015
Rates Stay Low | Should Help South Bay Housing Market
Mortgage rates began the third quarter (Q3) near their highest levels of 2015, and are starting the fourth quarter (Q4) near their lowest levels of the year. Specifically, rates are about .375 percent lower now than they were when Q3 began. This .375-percent spread translates to material savings for home buyers: If you were buying a $300,000 home with 20 percent down now versus in early July, the rate dip would save you $51 per month. If you were buying a $1 million home with 20 percent down now versus in early July, the rate dip would save you $169 per month. What a difference a few months makes. Let’s explore why this happened, and where we may go from here. Rate impact of recent economic data and Fed decisions This rate dip has to do with worsening economic expectations. Rates rise on positive economic expectations and fall on negative... Read more →
August 24, 2015
Real Estate Websites | Manhattan Hermosa Redondo Beach and Torrance CA homes for Sale
While there are many Real Estate websites that display millions of homes for sale across the US or automated valuations for your home, those that delve deeper into the local market are few and far between. Ellis Posner is a local South Bay top producing Realtor who takes the time each week to preview multiple properties, analyze recent sales and listings and generally update his blog readers as to what's going on. This is a real feet on the street view from a working Realtor. If you are a home buyer or seller looking for a deeper dive into Manhattan Beach CA, Hermosa Beach CA, North or South Redondo Beach CA or Torrance CA, these are some sites that you may want to visit. 90266realestate.com 90277realestate.com 90278realestate.com 90254realestate.com Related articles Homes for Sale in Hermosa Beach CA | MLS Listings South Redondo Beach Detached Townhomes for Sale Torrance Hollywood Riviera... Read more →
March 28, 2015
Real Estate Market Trends
, sellers Whether you’re buying or selling, here are the trends you need to know about. 1: Home prices are rising, even hitting record levels in some places. Home prices nationwide rose by 5.7 percent in January, compared to a year ago, with prices hitting record highs in Colorado, Texas, Wyoming, and New York,according to CoreLogic. Prices are so high in certain areas that some economists are starting to worry about localized bubbles. In most markets across the country, however, gains of around 5 percent are seen as stable, sustainable growth, a welcome change after years of roller coaster changes. 2: Mortgage rates are still low … for now. At less than 3.7 percent, mortgage rates are haven’t been this favorable to consumers since 2013. “Even though rates are expected to rise as the year progresses, for now these rates are really at very low levels,” says Greg McBride, chief... Read more →
February 17, 2015
Zillow Trulia: here we go....
I advertise on both Zillow and Trulia and both have helped build my business. So, I've been quite curious as to how this acquisition may play out. I've already seen some changes to the agent websites and services from Trulia and not necessarily changes I like. Or that help me anyway. All this reminds me of my previous life in the tech industry where rarely did one plus one add up to two. Or even one and a half. Zillow’s blockbuster $1.8 billion acquisition of Trulia is set to close later today — creating a dominant player in the online real estate arena with combined traffic of 130 million monthly visitors and more than 2,000 employees. A conference call is scheduled for 6 a.m. Wednesday, and the Federal Trade Commission has already granted its approval. The all-stock deal first announced last July — and valued at $3.5 billion at the... Read more →
February 06, 2015
Does Staging Your Home Make a Difference in Sales Price?
Well in Los Angeles and particularly the South Bay and Cities (my specialty) it sure does. I can think of more than one example of an expired listing in Manhattan Beach, Hermosa Beach, Redondo Beach, Torrance etc that was re-listed with the right presentation and sold. Quickly. For more. My advice is something like "you get dressed up for a job interview or date. Why wouldn't you dress your home up to make the best first impression as well?" Part of this, which I'll get to elsewhere is also make sure you have great photos. But that's an entirely different yet related topic. Home staging can influence buyers’ perceptions of a home and even motivate them to pay more, according to the National Association of REALTORS®’ 2015 Profile of Home Staging, a survey of more than 2,300 REALTORS® representing buyers and sellers. Eighty-one percent of REALTORS® who represent buyers say... Read more →
January 30, 2015
Mortgage Market Update: Flight from Negative Yield
Well it was about 618 days ago when Ben Bernanke suggested the Federal Reserve would soon taper asset purchases, sending 10yr yields skyrocketing from 2.04% to 3.00% over the next 4 1/2 months. Now here we are, three months after the Fed completely ended asset buying and the 10yr stands at 1.67%. Did you know that the low on the 10yr for all of 2013 was 1.63%? So if the Fed isn’t buying Treasuries, then who is? The quick answer is well, everyone. Stocks aren’t very attractive, home prices have started to level off and real yields on foreign bonds are becoming negative. Just a quick refresher, real yields are yields minus inflation. To give a sense as to where yields in the US compare to the rest of the world, take a look at the graphic. So there is no surprise buyers are scooping of US Treasuries. A lot... Read more →
January 24, 2015
Teles Properties Real Estate Forecast 2015
Teles Properties does extensive market research. This 2015 Real Estate forecast edited by Beach Cities Realtor Ellis Posner reinterprets the findings for the local South Bay market. As we move out of the housing recovery mode into a more stable period, many economists are referring to these market conditions as "the new normal". Most likely while we'll still see prices increase it will not be at the pace of the past 18 months but will be more moderated in the 4-5% range. Of course, considering the price of homes in the South Bay that still means some nice price gains. The economists are also predicting that prices will rise faster than overall incomes. The new normal is housing will create many new buying and selling opportunities. Read more →
December 13, 2014
Ellis Posner Joins Teles Properties Redondo Beach CA
Teles Properties is a luxury Real Estate firm headquartered in Beverly Hills CA with offices in high end residential markets throughout coastal CA. Because Teles offers a unique full support platform for agents and clients, the firm attracts the top agents in every market. Zillow 5 Star Premier Agent and Trulia VIP Realtor Ellis Posner recently joined Teles Properties in Redondo Beach CA. Ellis will be helping buyers and sellers in Manhattan Beach, Hermosa Beach, Redondo Beach, Torrance and Palos Verdes CA. Read more →