There is tons of negative press out there about real estate but the facts are the beach cities (Manhatan, Hermosa and Redondo Beach) are holding their own. Foreclosures are a very small percentage of the total activity and values have held fairly steady. Real estate in the beach cities is a good investment.
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The entry level market continues to be very strong with homes selling quickly and often with multiple offers. The high end is also selling and picking up some momentum. Overall the market is healthy and distressed sales make up approximately 15% of the market in the Beach Cities; Manhattan Beach,...
I am listing a 2/1.75 condo for $499,000 next week. All the comparable sales are in the $500,000 and up range. I think it will go fast.