Stories From a House Warming

Last week I attended a client’s house warming in San Pedro. As an older lady, very charming and a hoot to be around, she maintains an active lifestyle that many would envy. Her many friends welcomed me as if they too had known me for years. Two particular long-time San Pedro residents Manny and Kitty, conversed in great detail their lives spent in San Pedro. Stories about the past businesses that ran along Gaffey and near the docks, enlightened me on how much history a city possesses. They described the days when Western blvd was just a dirt road and how everything just boomed into the San Pedro of today. Manny could recall many business that existed in San Pedro, while Kitty described the sights and sounds she encountered during her daily walks, even recalling seeing Manny hard at work everyday. While they both eventually married other people, it was fascinating to realize that after all these years a community can still stay together. Every other person at the house warming knew another that still lived in the community. They even remembered when the house we celebrated in was built and described the family that built it.

As a realtor, change is what drives our business. Progress occurs, houses are constantly torn down then rebuilt, and families come and go. Here, in this older house in an established part of San Pedro, change has brought a community closer. They lived in a period of time before these new styled homes found their way over here, before builders discovered you can add square footage by building towards the sky. They celebrated an achievement that many of us would not dare to do in our older age and they preferred to do it in an older home. The one thing an older home has that newer homes don’t is a large yard to hold summer BBQ’s parties.

Hearing past memories beats any old photograph and when I left that night I had a better fondness for San Pedro. I wish these memories can be placed on a hard drive for future generations to hear. Hmmm might be a future project there. So far my only contribution to history is my attempt at refurbishing my ’68 Camaro.

At least I now have a sponsor at the Elk Club.

www.RealtorRichie.com

Need a Reason to Visit? International Surf Festival in Town, Plus Parking Information

Its funny how a weather shift of a few degrees can affect my comfort zone.  5-7 degrees in either direction is the difference between short and jeans these days.  Oh I know, I’m spoiled by the great climate here in Hermosa Beach.  Where else but sunny California can someone complain that 7 degrees higher or lower makes it too warm or too chilly. I think I forgot how it was being in Detroit or Las Vegas. Well its currently 76 degrees with a slight ocean breeze, I guess it shorts from now until 6pm. BBRRRR!

The International Surf Festival arrives this weekend with a complete array of beach activities.  Beginning 7pm on Friday August 3 until Sunday August 5, various competitions will occur all along the beaches of Torrance, Redondo, Hermosa Beach, and Manhattan Beach.  Visit http://surffestival.org/ for times and information.  Attractions include beach volleyball, surfing, and lifeguard events. I suggest parking in Hermosa Beach or Manhattan Beach depending on your event of choice, then walking over to the neighboring beaches for the other events.  Parking disappears quickly, so here are a few suggestions to place your vehicle.

In Hermosa Beach, a parking structure stands just north of Pier Ave at 14th Ct and Hermosa Ave, while a parking lot sits south of Pier Ave at Hermosa and 11th St.  Needless to say, they fill quickly.  A lesser known spot is at 14th and Manhattan Ave, however there aren’t many spaces.  Try the parking lot behind the Coffee Bean as well.  The entrance for this is at 14^th St.  Follow the road and it will take you around the parking structure and onto the parking lot.  This is also an alternative way to get into the parking structure on 14^th Ct. and Hermosa when they block off entry from the front.  Further east, but still west of Pacific Coast Hwy more options pop up.  At Ardmore and Pier Ave, meters find themselves near the skate park and tennis courts.  16th and Ardmore has 2  parking structures, one across from the Commodore complex and the other just north of the complex where the 24 hour fitness is located.  Both these structures are for the corresponding businesses, but as long as you pay, you can park there.  Some hidden areas known to locals are along Valley Blvd between 8th and 11th street.  On weekends you can park in the employee section of City Hall and in the front row of the Public Storage.  Please read all signs carefully.  Herondo St (HERmosa + RedONDO how clever) has ample room for those willing to walk further.

Manhattan Beach boosts larger parking structures.  Main structures are to the left and right of Morningside Dr at 12th St.  The west side has a tall parking structure, while underground parking is on the east side.  There is also parking to the left and right of Manhattan Beach Blvd right at the sand area, but they fill quickly.  Spots are also found between Ardmore and Valley to the north and south of Manhattan Beach Blvd.  If you are headed north the parking entrance is on the left side along Ardmore.  If you are headed south the entrance is on the left along Valley.  There are also little metered spots scattered about, but the spaces are so limited its not worth mentioning. 

In either city, park at your own risk and read signs carefully.  Parking enforcement will no doubt be in full force ready to enforce the rules.

www.RealtorRichie.com

I Told You it Wouldn’t Last Long

Well it looks like the 2 bedroom, 2 bath condo in the Commodore has a pending sale.  I knew it wouldn’t last long.  Say what you want about condos, but they are the most affordable home  these days, especially in the beach cities.  To my clients, I told you to hurry.  The one bedroom condo in the Hermosa Surf is also a pending sale. 

Still available is the 2 bedroom unit in the Hermosa Surf for $589,000, as is the one bedroom unit in the Commodore for $525,000.  The Commodore also has a penthouse for $775,000.  All of them have varied ocean views.

Regardless of what market we are in, or job strength, overall economy, interest rates, anything and everything that affects the housing economy.  A nicely priced home is a nicely priced home.   They will withstand short term fluctuations in the market, and maintain a steady growth.   

Nicely priced condo for sale in the Commodore

There is a new listing in the Commodore complex on the corner of Ardmore and 16th in Hermosa Beach.  It is currently listed by Mary Ralls from Shorewood Realtors.  The address is 1600 Ardmore.

If you want to get into Hermosa Beach, this may be your chance.  Priced at $499,000, this 2 bedroom 2 bath (yes 2 beds and 2 baths) is priced below any other 2 bedroom that has sold recently.  It even beats out many of the one bedroom condos that have recently sold.  I believe you will have to compete with other buyers on this one, but again you never know until you you just do it.

One might think that with a price this low it needs work, but actually it is a nice unit that is certainly ready for immediate move-in.  I wouldn’t wait on this one.

You can search on my website for more information on this condo.   www.RealtorRichie.com

Finding Foreclosed Homes is Easy, Making Money is Another Thing (Part One)

One of the biggest questions that I get on a regular basis is “Can you find foreclosed homes.”  The answer to that is rather simple, “yes I can.”  In fact anybody can.  Foreclosures are public record and there are many sites out there that offer a list of foreclosed or pre-foreclosed homes for a fee.  The real question is, “so now what?” 

Everybody has certain beliefs about foreclosed homes. Think hard, you have some too.  No matter what you believe, good or bad, at one point or another it happened to somebody.  Whether someone struck a goldmine or gone broke, working a foreclosure is all that and then some. 

In a nutshell, here is the process;

1. Find the foreclosed home.
2. Determine if there is potential profit.
3. Negotiate with its owner on how you are to obtain it.
4. Rent, sell or live on the property.

Sounds easy until you actually breakdown each step.  Each step will have its challenges, its up to you to overcome them. This isn’t a quick process, in fact it is equivalent to a full-time job. Many Realtors won’t even attempt to help you because there is no way for them to get paid unless you pay them to help you or promise them the listing.

I will break down each step in (part 2) shortly.

Quick update on the condo market as it pertains to the Hermosa Surf, Commodore and Apple Tree.

Hope everyone had a happy 4th of July.  I spent the morning jogging on the beach and was amazed to see how many people arrived early to secure a spot for their gathering.  There was barely enough room on the boardwalk for all the joggers and bikers. 

A client asked today if I thought the condos currently for sale at the Hermosa Surf was priced correctly.  Looking at the current list of condos, we see a 1 bedroom for sale at $469,000, and a 2 bedroom ocean view for $589,000.  If we compare this to what has recently sold in the Hermosa Surf.  I can tell you that the 1 bedroom is $5-$10k over priced, while the two bedroom is definitely over priced.  However, when you compare the Hermosa Surf with the recently sold condos in the Commodore and Apple Tree, we find that the Hermosa Surf condos are quite comparable.  There are 2 condos for sale at the Commodore.  One is a penthouse with an asking price of $775,000, we will throw this out of the equation because it is a penthouse and therefore unique.  The other condo is a 1 bedroom unit for $525,000.  It doesn’t have an ocean view worthy of a price increase, but it does have nice sunset views as it overlooks the beltway.  Previous 2 bedroom units have sold for $518,000 and $579,000.  The neighboring Apple Tree recently sold 2 bedroom units for $517,000 (no view) and $550,000 (greenbelt view), while a 1 bedroom sold for $530,000. 

Bottom line is, do you find the 3 condo complexes equal to each other?  If so, then the condos for sale in Hermosa Surf are competitively priced.  If you feel they are not equal, then they are overpriced.  Isn’t this what home buying is about? Your personal belief of what a home is worth to you? This is where the savvy buyer makes their money.  Take the emotion out and look at the facts.  The Hermosa Surf condos are treading never before seen prices.  Based on that you as a buyer have justification to offer slightly less than what they are asking.  Remember your potential profit largely depends on what you paid for a house, not what you ultimately sell it for.  Buy wisely and you won’t be too dependent on its sales price in the future. 

www.RealtorRichie.com

Reasons why living in Hermosa Beach is wonderful.

Its just one of those days again.  The sun is shining, a fresh, light breeze is blowing in.  Out goes the usual joggers and dog walkers leaving their condo complexes and making their way over to the greenbelt or beach for their daily exercise.  Hermosa is probably one of the more health conscious cities in California.  The 24 hour Fitness here is actually open 24 hours, imagine that.  Now if I can only get myself to stop thinking that selling homes is exercise maybe I could lose a few pounds too!

Over at the beach, the professional volleyball players are putting in a few hours of practice.  Surfers have invaded the water, even before the seals and dolphins have had their chance to frolic.  This just isn’t during the summer, this is year round, Hermosa Beach living.  I’m reminded of last January when I showed the city to a relocating couple from Boston and commented how much more people would be out when the weather warmed up.  They replied, “You mean when it gets warmer by a couple of degrees?”  Um, yeah….Hermosa Beach weather in a nutshell.  I think we’re spoiled. 

I can’t forget to mention the food, though I would like to forget how much I do eat!  Walking down Pier Ave, a wide variety of restaurants that appeal to many people exists.  Whether you want something quick or out to impress, finding a restaurant should be no problem.  My personal favorites are the Fritto Misto which serves a great Lasagna in Bolognese sauce, Big Mike’s (one of the best sandwiches and burgers in town), the Cantina Real, and Fat Face Fenners (for fish and chips).  There’s even a Farmer’s Market every Friday. 

If boutique shopping is your style, you’ll find that here too.  There is even a store, PINK, that donates its sale for breast cancer research and support.  We have friends that visit regularly just to go shopping.  I guess they need another reason besides friendship to make it down here.

Its easy to drive past Hermosa Beach, being no more than a mile in size.  That is how some people like it.  It is somewhat hidden to many, yet receives just enough exposure to keep things interesting.  I look forward to the yearly Hermosa Beach Fiestas as they attract all kinds of vendors each with their own unique crafts.  If your lucky enough to live here, don’t move and if you don’t live here, please visit, you’ll grow to love it. 

Stay tuned for updates on Hermosa Beach condos for sale.  I welcome you to give me your input.

www.RealtorRichie.com

Information on the Hermosa Surf Condominiums.

The Hermosa Surf Condominiums sits off of Pacific Coast Highway in Hermosa Beach, CA.  Once an apartment complex, these condos have recently undergone a bit of a face lift.  Some will argue its beauty, while others adore it.  I just find it better than its previous look.  The best community features of the Hermosa Surf has to be the two little used sundecks which gives clear views of the Pacific Ocean and all of Hermosa Beach below it.  If you are lucky enough to own one of the 9 full ocean view units, you just found yourself the least expensive ocean view home in Hermosa Beach and quite possibly the South Bay.  Partial view units also exists for those that just want to know the water is still there.

Hermosa Surf is one of three condo complexes that neighbor each other.  The Commodore and The Apple Tree sit a few feet west, but away from Pacific Coast Highway.  Expect to pay more for a condo in those complexes.  This may be due to the fact that entering the Hermosa Surf means manuevering the traffic from PCH, whereas both the Commodore and Apple Tree residents enter from less busy streets.  This driving situation may be the most glaring difference between the Hermosa Surf and the other complexes. 

As far as ammenities the Hermosa Surf has the usual pool, hot tub, excercise room, meeting and recreation room that most complexes have and just like most complexes, they are used by less than 10% of the residents.  More importantly the condos are walking distance to the 24 hour fitness, Von’s, Blockbuster and other convenient shops.  Also one can’t forget to mention that it is only a ten minute walk to the Hemosa Beach Pier, with its beaches and restaurants.  A very convienient location that one soon realizes during those summer months when parking is difficult and the yearly festivities require park and ride buses just to get to Pier Ave.      

www.RealtorRichie.com