Real Estate Blog for Manhattan Beach & Hermosa Beach

1736 Steinhart Avenue. Lovely Golden Hills single family home on the most northerly and quiet block of Steinhart Avenue, a great location for access to the beach, schools, food and entertainment, and Los Angeles freeways. With its reverse floor plan, which has the kitchen upstairs, the West facing property is oriented to capture loads of natural light and includes cape cod style design cues throughout . There are balconies at the front and rear of the home, a yard with plenty of space for family and friends, plus the main living space on the second level features exposed wood beam ceilings that are really exceptional. In addition to the owner’s suite, the second level includes a large living room with wood burning fireplace, a dining area, and a galley

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Beach living, contemporary town home 

433 21st Place, a brand new, 2014 built town home is for Lease. This is a high-end property designed by Louie Tomaro, which would easily fetch over $2,100,000 if put on the market for sale.  The home offers loads of exposed wood, full Viking appliance package in the chef’s grade kitchen, a large breakfast bar, walk-in pantry, loads of storage, and  a 3-stop elevator. Design elements include 20 foot tall (+) west facing windows plus loads of glass and a South facing exposure the ensures the home is flooded with natural light. And, there’s parking for up to 3 cars, 4 in a pinch. Bring your surf boards, sport accessories and beach chairs, The Strand and ocean are so close you’ll feel like your at the water’s edge

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My favorite quote of the week came from the CEO of JP Morgan Chase, Jamie Dimon.  He announced cuts of 6,000 employees from the mortgage division calling it “the most painful business ever.”  Which is the reason you need a good lender, like Bank of Manhattan, on your side!  

Interest rates dipped a little this week, possibly due to global concerns stemming from instability in the Ukraine.  But, we also saw some economic weakness as GPD for the 4th quarter was revised lower from 3.2% to 2.4%.  Again, the weather across the eastern part of the U.S. seems to be the primary culprit for the lower economic results.

Here are current rates for some popular financing options with 20% down payment: 

Conforming Loans (up to $625,500 with 20% down)

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Beach living with ocean views

Brand new, 2014 built town home for Lease. These sorts of opportunities don’t come along every day— you will love this beautiful property. Our ocean view town home is extra high-quality throughout, has a super hip and cool vibe, and is a soft contemporary design. There?s also loads of exposed wood, full Viking appliance package in the kitchen, large kitchen island and a 3-stop elevator. Large side windows, large north facing windows plus skylights all help flood the third floor living space with natural light. And, there’s parking for up to 5 cars, which is practically unheard of at the beach. Bring your surf boards, sport accessories and beach chairs, The Strand and ocean are so close you’ll feel like your at the water’s

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Best Sand Section Value

Immaculate Manhattan Beach town home that has ocean views, a great location, a private front patio, extra parking and is just a 5 minute walk to the water. Imagine yourself fully engaged in the beach lifestyle with surfing, ocean sports, running, food and entertainment, and the sand at your doorstep. From the home's main living area there are picturesque blue water ocean views, making for a great space to relax and enjoying another amazing day at the beach. For the ultimate in comfort and easy upkeep, there are wood and tile floors throughout. To keep the home super quiet and private, the front facing windows have been augmented with a sound-reducing layer—perfect for day sleepers. An automated whole house air ionizing and

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The first Friday of each month can be volatile for interest rates because of the employment report.  Today is one of those days.  Market expectations were for 185,000 new jobs, but we only got 113,000, a sizeable miss.  Combine that with the previous poor report in December (only 75k new jobs) and the result should have been a sizeable drop in rates.  However, due to poor weather conditions the report is not having quite the impact we would expect.  Many feel the reports are artificially low and employment will increase once it’s warmer.  Regardless, rates have improved and are once again better than they were a week ago.

Here’s a sample of rates with 20% down going into the weekend: 

Conforming Loans (up to $625,500 with 20% down)

30-Year

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FOR RENT

1996 built and totally refreshed inside and out

This East Manhattan Beach property is perfect for families seeking a large and roomy place to call home. The 7,500 square-foot lot provides a large backyard with manicured lawn. The home's great floor-plan includes one bedroom with private bath on the ground level and the owner's suite and two additional bedrooms upstairs. The owner's suite includes vaulted ceiling, a private balcony, fireplace, walk-in closet and a large spa-like bath. On the ground level there is a family room adjacent to the kitchen with wet-bar, separate dining area, a two-sided fireplace, front living room, powder room and access to the two car garage. The home gets bathed in loads of light and has a designer look and

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There were endless debates about what would happen if the Fed started tapering the stimulus.  Well, on Wednesday the Fed announced a 2nd taper, reducing bond purchases by another $10 billion per month ($20 billion total), and rates have since declined.  The decline has been aided by concerns about Turkey, but it’s still surprising to see rates at levels not seen since November...

 Here’s a sample of rates with 20% down going into the weekend:

Conforming Loans (up to $625,500 with 20% down)

30-Year Fixed  4.50% w/No points (APR 4.52%) 
                         4.375% w/1.00 points (APR 4.48%)

Jumbo Loans (up to $2,000,000 with 20% down)

30-Year Fixed  4.625% w/No points (APR 4.64%)          
                         4.375% w/1.25 points (APR

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Maybe we’re late to the game, or maybe we’re a 1,000 miles ahead of the curve, don’t know. Two friends of ours, Nadine and Caryn pointed us to Houzz.com, and it’s an amazing site that is rich with some of the best ideas for interior design we’ve ever found in one simple destination—thank you ladies!

We’ve often thought that catalogs like DWR, Pottery Barn and Restoration Hardware were great design aids, but they have nothing on Houzz.com. There are literally 100,000’s of ideas for your to explore organized in to clear and easily navigable categories. 

We haven’t figured-out how they make money yet, but there’s a big and powerful team behind houzz.com, which means big plans in the future. We can’t wait to see how the site and company evolve. 

 

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2200 Wendy Way is a new Manhattan Beach flip in Liberty Village. The story here is everything you’d expect including the current owner picking the home up last August for $855,000. Today, the home has been spruced, goosed and cleaned every which way, and the results are very nice indeed. 

Purchased 4 months ago, remodeled and relisted, this is a really well done flip. Today’s list price is $1,349,000, which seems to be about the going shelf price for these made-over profit centers, sorry, homes. 

Competing head first with the other flip close by, 1650 22nd Street, both are location challenged. Time will tell if today’s low inventory market will draw buyers to these homes at their current, robust prices. Are they worth the money, probably based on

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