Hello... I own a house in redondo beach valued around $1m-$1.25 or so... Would it be a good time to sell now?

Asked by Jason Bond, Redondo Beach, CA Tue Jun 25, 2013

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17
Jamie Tian, Agent, Los Angeles, CA
Tue Jun 25, 2013
Hi Jason,

Thanks for contacting us here on Trulia.

It is currently a great time to sell! The lack of inventory throughout Los Angeles has created the perfect seller's market, especially with interest rates still low. The summer season is also typically the best time to sell.

There are currently lots of buyers for properties and very few properties available on the market so we are seeing multiple offers and bidding wars on many properties, pushing up prices.

I would be happy to give you more details and walk you through the selling process, as well as provide a free professional estimate of your home value with no obligation!

Feel free to contact me at (310) 717-1321 or JamieTian@RodeoRE.com with any questions/concerns.

Best,

Jamie Tian
Rodeo Realty Fine Estates
(310) 717-1321
JamieTian@RodeoRE.com
DRE #01920120
1 vote
Ellis Posner, Agent, Manhattan Beach, CA
Thu Jan 30, 2014
There's no doubt that this is one of the strongest seller's markets we've seen in quite a while. There's a few schools of thought on timing when to sell. I'm expecting we'll see more inventory and competition as we get further into the selling season and interest rates may go up. That could tend to suppress further price appreciation.
0 votes
Dave Caskey, Agent, Manhattan Beach, CA
Sun Jan 19, 2014
Jason,

Just checking back in with you with a quick forecast for the 2014 sellers market. Here's a few highlights:

• Prices are appreciating: the lack of inventory will continue to drive the early 2014 market and the median sales price across the State of California is expected to increase by as much as 28%
• Rates will begin to rise ["tapering" will begin], affecting the affordability index which will shut a portion of buyers out of the market by mid-2014 and will lead us into a more “normal” market
• The transition from a heavily distressed market is considered “over” and more expensive homes will be coming to the market, returning us to a more traditional market setting before the end of the year

If you have given any thought to marketing your Redondo Beach property, my advice would be to do so in the 1st quarter of 2014. There is an over-abundance of qualified buyers still out there and they are trying to beat rising interest rates before the affordability index begins to shift.

Please call me if you'd like a no hassle, complimentary home equity check so you can see if now is the time to take advantage of the recent shifts in the local market. 310-200-1960. We sold $120 million in Redondo Beach, Hermosa Beach and Manhattan Beach property in 2013, with 70 closed transactions, and have a very thorough understanding of the nuances of the projected 2014 market. Thanks for reaching out with your question.
0 votes
Hany Bekhit, Agent, Hermosa Beach, CA
Fri Jan 17, 2014
Hi Jason,

Is it a good time to sell? It depends on your goals? Why you want to sell? Last year Redondo Beach housing market went you +/-18%. That is a significant rise in prices.
Also the lack of inventory increases your home chance to sell. Economists predict the U.S. market will rise +/-7% this year. This is a decrease from the 11.2% last year.
With the Feds tapering their bond program purchase from $85 billion to $75 billion you will see rise in interest rates. Also it will decrease the power of purchase.
So if you want to cash out or sell and move up or you want a more high yield class of investment? It is a good time to sell and taking advantage of the current real estate market as well the lending market.
Please feel free to contact me to discuss it more in details.

Hany Bekhit
REALTOR

Coldwell Banker
451 Manhattan Beach Blvd., Suite D220
Manhattan Beach, CA 90266

Call / Text: 310 619 9712
Email. hsbekhit@gmail.com

http://www.californiamoves.com/Hany.Bekhit
0 votes
Jeff Ginsburg, , 90277
Fri Jan 17, 2014
Hi Jason!

Certainly the housing market is improving out there but what is a good time to sell for one individual might be different for another. My question to you is why are you considering selling? As you probably know there is a cost to sell, taxes to consider and then once you sell are you then going to buy somewhere else? Pike Properties offers Property Management services along with sales/leasing...many homeowners feel like they "have to sell" because they had not considered leasing out their house. With Pike Properties "one call does it all" (Management, Sales, Leasing & advice)...I am the broker of Pike Properties here in Riviera Village and my cell is 310-462-3221 or email: jeff.ginsburg@nsicorp.net ....I would be happy to discuss your situation :)

Thanks,
Jeff Ginsburg
0 votes
Dorene Slavi…, Agent, Torrance, CA
Sun Oct 27, 2013
Dear Jason,
We are seeing a strong buyer interest in homes right now. If your property is properly marketed and priced, you will likely sell quickly and with multiple offers.
0 votes
Muriel Levin, Agent, Beverly Hills, CA
Tue Jun 25, 2013
Hi Jason,
It's true that the houses in Redondo Beach are selling very nicely, everyone knows that.
As far as the right timing, you have to consider the motivation behind the sale too, not just the market. If by "good time to sell", you are thinking that the price is 20% higher than what you paid for and 20% is the increase in margin you want, then its a good time.
If you are trying to get the most profit and have no pressure to sell at this time, you might want to wait a little longer and see the rise in price give you extra profit.
Why is it important for you to sell right now and what are you options? Only if you answer these questions yourself, will you figure out if it is a good time to sell now!
But thank you for asking us and trusting us anyway..
Give me thumbs up if this is useful to you!

Muriel Levin, Broker - Realtor
HAFA certified,Certified Negotiator, Short Sale and Foreclosure Resources Specialist. Residence, income properties and commercial leases.
Votre agence immobilière de confiance sur Los Angeles et toute la région de la Californie du Sud
Agent Immobilier Francophone a Los Angeles, Hollywood,Santa Monica and Beverly Hills . Achat et Ventes immobilières a votre portée, de loin ou de près.

323 363-91-40
Muriel Levin @ gmail.com
Web Reference:  http://www.muriellevin.com
0 votes
Keith Kyle, Agent, Manhattan Beach, CA
Tue Jun 25, 2013
Hi Jason,

There are a number of great realtors answering your question here and needless to say all would certainly like to help you sell your home. Regardless of who you might ultimately use, the answer as to whether it's a good time to sell your homes is absolutely yes. There's a link below to see updated statistics and trends specifically in Redondo Beach and it clearly shows that prices are well up from the end of last year, inventory is way down and the market greatly favors sellers. Outside of the statistics personal experience shows that most Redondo homes are receiving multiple offers, getting favorable terms and selling close to, or over asking price. Of the 35 homes in Redondo that have closed in June, 22 sold at list price or over which also indicates a very short time on the market. Demand is especially high due to the number of buyers looking for homes in great school districts. Overall it's an almost ideal time to consider selling.

Keith Kyle
2007-2012 Top Producer
South Bay Brokers
Keith@KeithKyleHomes.com
0 votes
Soraya Green…, Agent, Palos Verdes Peninsula, CA
Tue Jun 25, 2013
I'd love to sell your house! The market is so hot for sellers right now and it is undoubtedly the best time to sell. There are many buyers who are ready to jump on buying a new house and Redondo Is a very popular area. I would definitely not wait as interest rates are threatening to go up in the near future.
Soraya Greenway
Shorewood Realtors, Inc
310 877 9753
soraya@sorayagreenway.com
0 votes
Greg Thatcher, Agent, Redondo Beach, CA
Tue Jun 25, 2013
Hi Jason,

The easy answer is yes as inventory is low and demand is strong. Probably a more accurate answer depends on what your future plans are. Are you looking to take the equity out of your home and invest in something else? Or are you looking at perhaps selling and moving to either another area or an upgrade to a larger or newer home.

Happy to answer any questions or work with you on a path forward. Best of luck in whatever direction you choose.

Greg Thatcher
South Bay Brokers Inc
greg.thatcher@southbaybrokers.com
424-247-4880

http://www.GregSellsSouthBay.com
0 votes
Rossana Torr…, Agent, Redondo Beach, CA
Tue Jun 25, 2013
Hello Jason,
As you probably know by now the home values in the entire Los Angeles county have gone up more than 20% from last year. If you have enough equity this is a great time to sell. I would have to ask you what are you planning to do next so we can elaborate a strategy that suits your needs. Please feel free to contact me 626 673 2199, rossana.realtor@gmail.com or visit my web page for seller resources Rossana.kwrealty.com.
0 votes
Tony Warfield, Agent, Manhattan Beach, CA
Tue Jun 25, 2013
Hi Jason,

As you can see the consensus is that yes, it is a good time to sell. But waiting much longer until late summer could affect how easily you can get it sold. With the increasing interest rates, it is lowering the home buyer's purchasing power and creating a smaller pool of potential buyers for your home.

The other side of the situation is, what are you going to do after selling? Are you purchasing an up-leg or downsizing? Buying a property with a contingency of you selling your home is a challenge these days. Most sellers will not accept that contingency, because there are so many buyers, they don't need to.

I recommend that you evaluate your situation quickly and contact me for a home analysis and we can discuss a great marketing plan. My company does a lot of business in Redondo and I am sure we can get it sold for you. Hope to hear from you soon.

Tony Warfield
Associate Broker
3 Leaf Realty
310-634-9342
Tony@3leafrealty.com
0 votes
Andrew Jones, Agent, Venice Beach, CA
Tue Jun 25, 2013
Hi James,

No one has a crystal ball when it comes to the real estate market. However, homes in many of the more affordable areas in L.A.'s beach cities are already at or over their 2007/2008 price levels and demand is high with multiple offers being common place. Inventory has also been low in many areas because a lot of seller's have been confused by what the market has been doing since then and have stayed on the fence in regard to selling.

With prices getting so high and the recent rapid rise in interest rates making it more difficult to afford homes closer to the beach, things could start changing very soon and this summer could be an excellent opportunity to get the most out of your home. Here's a link to a good map search tool I have which shows all the homes that are for sale or have recently sold in South Bay.

http://labeachcitieshomes.com/south_bay_mls_property_listings.html

Best of Luck!
0 votes
Fournier & F…, Agent, Manhattan Beach, CA
Tue Jun 25, 2013
Hi Jason

This is a great time to sell since there are more buyers than homes available right now which is generating multiple offers and over bids if priced correctly. I actually have someone looking for something in that price range if it is in the right location and the right size. Please call me to discuss your home and if it fits my clients needs, I would love to bring her over to view it. My phone number is 310-415-6023.

Randi
EDG Realty/Fournier & Fournier
Lic. 01272345
0 votes
Hany Bekhit, Agent, Hermosa Beach, CA
Tue Jun 25, 2013
Dear Jason,
Thank you for your inquire. the answer depends on your goals and what are you looking for from selling.
Selling or buying is individualize to each one criteria. Please feel free to contact me to discuss the advantages and disadvantages for selling your property.
Thank you, Hany

Hany Bekhit
REALTOR

Coldwell Banker
451 Manhattan Beach Blvd., Suite D220
Manhattan Beach, CA 90266

Ph: 310 619 9712
Email. hsbekhit@gmail.com

http://www.californiamoves.com/Hany.Bekhit
0 votes
Susan Bo'ur, Agent, Manhattan Beach, CA
Tue Jun 25, 2013
This is a great time to sell. There are many, many ready and qualified to purchase. Unfortunately, there's little inventory to show them. My listings have been selling in only one open house.
Please contact me directly to discuss further.
Best,
Susan Bo'ur
Realtor/ Coldwell Banker
310.600.4240
Susan@SusanBour.com
0 votes
Kristen Ybab…, Agent, Redondo Beach, CA
Tue Jun 25, 2013
It's a great time to sell in that price range. A lot of buyers are still able to come in with a significant amount of cash. If the home is priced accurately, sellers are getting into escrow as quickly as one to two weeks. In terms of timing, it's still early enough in the summer to take advantage of the season - come August things will slow down quite a bit.
0 votes
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