Manhattan Beach Real Estate Activity 1.1.2012 through 1.15.2012: New Listings, Pendings, and Closed Sales

Over the first two weeks of January, 13 new Manhattan Beach listings hit the MLS, 8 properties were "sold" meaning escrow was opened (MLS status pending or sold), and 4 actually closed escrow. In no particular order, following are our comments on activity during this time period.

NEW CONSTRUCTION IS IN HIGH DEMAND - THESE TWO ARE ALREADY IN ESCROW

This should be no surprise. Who doesn't like new? Of the 8 new open escrows, 2 are new construction showing build dates in the MLS listing of either 2011 or 2012.

104 Manhattan Ave, MLS # S12002242, is a 4 bedroom, 3.5 bathroom 2332 sq ft attached townhouse
built by KKC Fine Homes (Kim Komick) in the south end of the Manhattan Sand Section one block from the Strand and the beach. As you can imagine, it has incredible views to the south and ocean views to the west. This property actually went into escrow without ever being active in the  MLS. As this MLS input was done for comparison purposes only, we are assuming that it is being sold at the list price of $2,499,000. The listing broker is South Bay Brokers.

3613 Maple Ave, MLS # S11138905, is a 5 bedroom, 4.5 bathroom single family home in the Manhattan Beach Tree Section. The 2011 built new construction house is 3200 sq ft on a 4643 sq ft lot in the north end of Manhattan Beach (very close to Rosecrans). As you would expect with new construction, it features a 6-burner Viking range, an oversize center island with bar space, and stainless-steel KitchenAid appliances (convection double oven, microwave, oversize refrigerator and dishwasher); walnut hardwood floors on the first level, staircase and upper level hallway; fireplace and French doors that lead to the backyard, and all the other bells and whistles in found in new construction. The property was listed by Raju Chhabria of Shorewood Realtors for $1,599,000. We'll see what it closes escrow for.


THERE ARE DEALS TO BE FOUND BUT FORECLOSURE ACTIVITY IS LIGHT


Depending on how you define a deal, there are some good values to be found but if you are looking for a 30% discount from list price, you might do better in Riverside than Manhattan Beach.


Of the new listings, only one, 2600 Oak Avenue,  MLS # S12002240, is a bank owned foreclosure (REO). This 792 sq ft single family house (SFR) on a 4482 sq ft lot near Marine and Sepulveda is priced at $724,900. While it is west of Sepulveda, we're not convinced it is any kind of deal - at least at that price. We would have preferred to have seen this listing come out at $699K.


For value, we much prefer the probate listing at 313 Aviation, MLS # S12003439, which is listed at $599,000. The probate sale does not require court approval so we are thinking that may go as low as $550K which means that you are looking at North Redondo Beach condo pricing but you own the land. OK, so it's on a main street and noisy, but someone will always want the Manhattan Beach address.

In our opinion, 857 8th Street, MLS # S 12002759, represents a reasonable value in the Manhattan Beach Hill Section and is currently in escrow (MLS status "pending"). The Hill Section mid-century post and beam house is 1,958 sq ft on a 5,770 sq ft lot and has tons of windows, skylights, lots of light and amazing city views. The property was listed by RE/MAX for $1,350,000 and went into escrow the first day on market. Good deal based on size and location, location, location.

OUR FAVORITE

We really like 819 10th St, an amazing contemporary Hill Section home on an oversize10,500 sq ft lot (70X150). Designed by KAA this 4600 sq ft masterpiece features 4 bedrooms and 3.5 baths. There is a chef's kitchen with top of the line stainless steel appliances. The dining area has seating for 10 and overlooks the backyard pool area with an expansive entertainment terrace with fire pit.  Rear yard features a solar heated saltwater pool, water feature & attached jacuzzi. Separate pool/guest house also designed by KAA with private bath and a wet bar is a stunning design feature in itself with nano doors offering poolside indoor/outdoor entertaining. The pool house can also be used as an office, extra family room, guest house or a rec room for pool table. Large 4-car garage w/security gate and large secured pad for extra parking. Wow. Listed by Peninsula Sothebys International Realty for $3,900,000 and in escrow (MLS status "backup").


MB CONFIDENTIAL MENTIONS....


Another one we also like, 303 Larrson in the Hill Section. Basically, this puppy is all about price. Think of it as a Manhattan Beach "tall and skinny" that has been extensively remodeled. Listed by South Bay Brokers at $1,000,000 MB Confidential correctly predicted that it would be sold quickly and it was. After 8 days on the market, it went into escrow today, the 16th and is now in MLS status "Pending". We're going to guess there were multiple offers and it sold for over lost price. A lot over list price. The home was extensively remodeled and showed well. It is 1805 sq ft on a 3,438 sq ft lot with 3 bedrooms and 2 baths and really, what can you touch in the Hill Section at that price point? Not much.


MANHATTAN BEACH REAL ESTATE MLS "QUICK SEARCHES"

If you want to buy a home in Manhattan Beach, view all the active MLS listings from all brokers and agents below. Schedule viewings online or call for more info.

Manhattan Beach MLS Listings: All Homes for Sale
Manhattan Beach MLS Listings: Single Family Homes for Sale
Manhattan Beach MLS Listings: Townhouses and Condos for Sale
Manhattan Beach MLS Listings: Foreclosures and Short Sales
Manhattan Beach MLS Listings: Real Estate for sale less than $1,000,000
Manhattan Beach MLS Listings: Real Estate for sale $1,000,000-$1,500,000
Manhattan Beach MLS Listings: Real Estate for sale $1,500,000-$2,000,000
Manhattan Beach MLS Listings: Real Estate for sale $2,000,000-$2,500,000
Manhattan Beach MLS Listings: Real Estate for sale $2,500,000-$3,000,000
Manhattan Beach MLS Listings: Real Estate for sale $3,000,000-$4,000,000
Manhattan Beach MLS Listings: Real Estate for sale over $4,000,000
Manhattan Beach MLS Listings: Real Estate for sale in the Sand Section
Manhattan Beach MLS Listings: Real Estate for sale in the Hill Section
Manhattan Beach MLS Listings: Real Estate for sale in the Tree Section
Manhattan Beach MLS Listings: Real Estate for sale in East Manhattan Beach
Manhattan Beach MLS Listings: Real Estate for sale in Manhattan Village
Manhattan Beach MLS Listings: Townhouses and Condos 2 bedrooms
Manhattan Beach MLS Listings: Townhouses and Condos 3 bedrooms
Manhattan Beach MLS Listings: Townhouses and Condos 4 bedrooms
Manhattan Beach MLS Listings: Single Family Houses 2 bedrooms
Manhattan Beach MLS Listings: Single Family Houses 3 bedrooms
Manhattan Beach MLS Listings: Single Family Homes 4 bedrooms
Manhattan Beach MLS Listings: 30 day price reductions
Manhattan Beach MLS Listings: 10 days or less on the market


When it's time to Buy or Sell Manhattan Beach Real Estate use a local expert!

90266realestate.com is published by Ellis Posner (DRE # 01416970), of Shorewood Realtors Hermosa Beach. Ellis is a local Beach Cities Real Estate agent who specializes in Manhattan Beach and Beach Cities (Redondo Beach, Hermosa Beach, El Segundo) Real Estate.  Ellis can help you buy or sell a home, acquire investment - income property or rent or lease a condo, town home or single family home. Call 310 975 5139 or email socalistings@yahoo.com. Other Ellis Posner published websites include www.90254realestate.com, www.90278realestate.com, www.90277realestate.com, www.socalistings.com and www.socalupdates.com. You can follow socalistings on Twitter or become a fan of Socalistings on Facebook. Experience counts. Call Ellis Posner for "straight talk" on Real Estate and to buy or sell a home in Manhattan Beach. View Ellis Posner's Zillow profile here.



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