Real Estate Blog

Something about Reno
Reno is a beautiful city in the county seat of Washoe County, Nevada, United States. It is the fourth-largest city in the state after Las Vegas, Henderson & North Las Vegas. Reno shares its eastern border with the city of Sparks. Reno has a basic democratic municipal government with a very systematic functioning.

Homes at Reno
Reno is considered as one of the best places to live, relocate a family or to launch a business or career. Reno Sparks offers an ideal location because of its proximities to many major cities of Nevada. It also mentions the six important industries in Greater Reno Tahoe with the recruiting priorities like advanced logistics & manufacturing, alternative energy, Business & Financial services, Life Sciences & Software. continue reading…

The Palos Verdes Drive North section of Palos Verdes Peninsula covers an unusually shaped and diverse area. This is where the South Coast Park and Botanic Garden, Rolling Hills Country Club, and Chadwick High School are located. The borders of this area are difficult to describe though the south border is partially Palos Verdes Dr. North. Both Hawthorne Blvd. and Crenshaw Blvd. run through this area. Homes tend to average having between 2,500 to 2,800 sq ft of living space. Lot sizes range, on average, between 18,000 sq ft to 23,000 sq ft. Like most areas in the greater South Bay, the peak number of homes sold was reached in 2002 while the high point for average sales price occurred in 2007.

Homes here averaged selling for $760 K back in 2001. Prices rose steadily through 2007, but dipped only modestly in 2008. As a point of reference, the majority of areas in the South Bay experienced significant reductions in 2008. This year-to-date there had been a 20 percent decline in average sales prices through September; however, there are currently 16 homes pending with an average sales price of $1.42 M. Though I generally caution anyone from placing too much emphasis on sales averages for this area given the diversity of the neighborhoods within it, one can still get a sense of sales trends. Prices here have more or less remained flat from 2005 through this year with the exception of the early part of 2009. continue reading…

In 2008, the average sales price for a Hermosa Beach sand section home exceeded the average for a sand section home in Manhattan Beach for the first time. There are a number of arguments why looking at an average sales price is not a true representation of what is happening to prices. Nonetheless, it’s very telling that the sales activities in this area have hit the levels that they have. The results for 2009 may be different, but this is certainly a very active area at this writing.

There were 36 single family home sales in the sand section of Hermosa Beach last year. This year there have already been 28 sales and there are an additional seven sales in escrow. With 35 homes on the market, the inventory stands at about a year after three listings were canceled. The average days on market for a home being sold in 2008 was 48. The homes on the market now have been on the market for an average of 108 days thus far. Of the 35 homes available, seven are located on the strand. Over one-third of the homes for sale are listed at over $3 M. In a previous post, I noted two of the strand listings that are over $15 M. continue reading…

Form a real estate standpoint, Hermosa Beach is often described as being made up of three distinct areas. These include the sand section, the valley, and Hermosa Beach East. The latter area is the relatively small area of Hermosa Beach that is located east of Pacific Coast Highway. Many of the homes here offer ocean views with livable space of 1,800 sq ft or so. Lot sizes are typically between 3,000 to 4,000 sq ft. The home values in this area have not mirrored the South Bay in general over the last several years. In virtually every other area, average sales prices rose each year from 2002 through 2007. In the east part of Hermosa Beach, sales prices increased through 2005, but have since leveled off through this year-to-date.

Average sales prices were abut $533 K back in 2001. They peaked at just over $1 M a few years ago and have been staying near this level. The number of homes sold increased through 2002, but then have dropped every year since. The number of homes selling now is one third of what it was back in 2002 when 84 single family homes were sold. continue reading…

Like many cities, Palos Verdes Estates is made up of a few different sub-areas in the world of real estate. I covered the beautiful Malaga Cove area a few weeks ago and today will be looking at an adjacent area, Monte Malaga. This area is “up the hill” and offers spectacular views of what is often referred to as the Queen’s Necklace. This includes the coastline, beach cities, LAX, Century City, Los Angeles, and the Hollywood Hills. As a point of reference, the popular wedding or event facility of La Venta is located just before this area when driving up the hill. Homes are typically 3,500 to 4,500 sq ft in size. Lot sizes range from 16,000 sq ft to over 19,000 sq ft. The sales of homes here have followed a pattern common for the South Bay.

Back in 2001, the average selling price for a home here was just under $1.4 M. This average rose steadily until it had doubled to $2.8 M in 2006. In 2007, the average home sold for about $2.3 M and dropped again to just over $2 M last year. This year-to-date has seen a further decline. If one were to use the sales average data at face value, one would conclude that values have dropped up to 28 percent from their peak. I would caution against using just the sales average numbers, but they may illustrate actual trends just fine. continue reading…

The Golden Hills section of Redondo Beach is essentially bounded by Prospect Avenue to the west, Artesia Blvd. to the north, and Aviation Blvd. to the east and then south. Homes in this area are typically about 1,700 sq ft in size on average and sit on lots that average having 2,700 to 2,900 sq ft. Home values here have followed a pattern very similar to the greater South Bay area in general over the last several years.

In 2001, a home could be bought for just over $400 K on average. This number climbed steadily until it hit $800 K in 2005. It stayed at that level through 2007 before dropping to $730 K in 2008. This year-to-date the average sales price has been just under $690 K. Sales volume peaked in 2002 and has been dropping since. At the peak, there were 166 single family homes sold. In 2008, this number had declined to 72 homes. In 2009 there have already been 53 sales and there are 15 homes in escrow with pending sales. continue reading…

Over the years, several changes has occurred in our surroundings. The planet that was once abundant in trees and various life forms is now slowly degrading. There are evidences of its degradation. Species start to become instinct. Forests are denuded. People’s life expectancy has shortened. However, among the changes that have occurred, the most feared is the global warming.

Global warming is the increase in the atmosphere’s temperature. This kind of phenomenon has plenty of negative effects to the society and the environment. It can lead to flooding due to melting of glaciers and rise in water levels. It could also lead to poor health conditions brought by tropical diseases and food and water shortage. continue reading…

The following is an excerpt from an interview with Shawn Foster of Bluewater Inspections that took place on the night of October 12, 2009 in Hermosa Beach, CA:

Tony: Shawn, thanks for agreeing to sit down with me to talk about home inspections. How long have you lived in the South Bay?

Shawn: I moved here in 2001. I am originally from Kansas City, but I’ve lived in the Taos, NM area as well as in Scottsdale, AZ. continue reading…

But there are other criteria as well to be taken into consideration, as a home can last a lifetime, and this way paying more at the start can mean having better living conditions for centuries. The roof, plumbing or floor coverings may be twice as expensive, but if it lasts twice as long, then you can say you’ve made a good decision.

There are a few factors that influence cost per square foot. Firstly, there is the built in profit your home builder works with. This quote is up to the builder, and it can be anything from 10% to 50%, depending on what services are you contracting. continue reading…

In any project or endeavor, whether it is for business or for personal reasons, quality of work, product or materials is a very important aspect that will give you the assurance of getting the best results. This is true even on a home renovation or home remodeling project, whether your project is located in Boston, Massachusetts or somewhere else like Alaska or Hawaii, and applying good quality control can help you avoid a bad home builder.

A bad home builder will not only ruin a perfectly great project concept or idea, but he could also ruin existing structures and furnishings as well particularly if the home remodeling job or work is being built around a previous construction. This could spell irreparable damage or defacement in your home that would not only cause additional cost for the homeowners but it would also cause considerable inconvenience on their part. continue reading…