From Torrance Real Estate, Vista Sotheby’s International and realtor Keith Kyle, we wish you a very happy Labor Day weekend. Stay safe and stay cool….it’s going to be a hot one!!!
Torrance Oceanfront Home at 529 Paseo De La Playa Sells for $5,650,000
While the homes in the Hollywood Riviera have a Redondo Beach mailing address they’re actually residing in the city of Torrance….which means Torrance has beachfront homes (and a beach….but that’s another topic)
One notable sale was the oceanfront home located at 529 Paseo De La Playa. This oceanfront “project” home just closed escrow at $5,650,000 and has all the makings of a real legacy type property. It’s likely to get a major overhaul but it’s a special property for sure.
View the current houses for sale in the Hollywood Riviera
The two story single family home was a very clean but still fairly original with popcorn ceiling, wood paneling and more. It had clearly been well maintained and had a great, and fairly rare flat yard overlooking the ocean and they had recently done a major project to shore up the hill and had created a trail to the beach which is no small task and approval from the California Coastal Commission can take years and years if approved at all.
Listing courtesy of Hal Licht & Howard Wood – Vista Sotheby’s International
Home of The Week – 425 Paseo De La Playa Redondo Beach
One of our absolute favorite locations in all of the South Bay is Paseo De La Playa along the bluffs of the Hollywood Riviera. There are a very
limited number of homes here and it’s truly a showcase location.
This is an unbelievable location as the lots/homes are not only oceanfront but the lots are huge and extend all the way down to the beach. As 425 Paseo De La Playa is one of the lower homes the slopes is a bit more mild and they’ve been able to build a path down to the beach (which is a VERY challenging step for homes without a path as it require California Coastal approval….which they don’t do). The home at 425 is on a 28,000+ foot lot! Pretty unheard of in the South Bay and certainly unheard of for a beachfront home.
- Price: $10,000,000
- 3 bedroom
- 3.5 bath
- 2,640 square feet
Want an even easier way to search for oceanfront homes in the South Bay and Palos Verdes? Tell us just a bit about your ideal home and we’ll customize a search just for you and send you email alerts whenever a new home hits the market. Never miss a new listing in the Hollywood Riviera again.
Contact Redondo Beach realtor Keith Kyle with Vista Sotheby’s International for more information.
425 Paseo De La Playa
Listing provided by Strand Hill Christies International Real Estate
What’s happening in the Torrance Real Estate Market?
Take a look at the charts below to get a better understanding of what’s happening in the Torrance real estate market. We hope that getting an awareness of what the real estate market has been doing for the past 18 months can help make you a knowledgeable home buyer or seller in this great city. See the current homes for sale in the various neighborhoods of Torrance.
For Sale, Sold and Pending Sales in Torrance CA
The chart below shows the average price per square foot. Square footage in the South Bay often doesn’t mean as much as in other markets as values can vary so dramatically due to things such as proximity to the beach, views, specific neighborhoods.
The chart below shows the average days on market per month as well as the % of list price that homes sold at. A high % indicates a sellers market as home sell at, or above list price.
The chart below shows the average price for listed home sales in relation to the average price for sold homes.
The chart below indicates the months of home inventory based on closed home sales. Buyer’s market: more than 6 months of inventory Seller’s market: less than 3 months of inventory Neutral market: 3 – 6 months of inventory
How Buyers and Sellers Handle Home Inspection Challenges
One of the more treacherous parts of an escrow is the home inspection and request for repairs. Often times the buyer thinks that the home inspection is a “checklist” of what needs to be fixed while the seller either thinks their home is perfect or “it was just fine for us so why does the buyer need things that work fine upgraded or repaired”. Finding middle ground isn’t always easy.
As the graphic below shows, 80% of home inspection reports show at least something needing to be fixed. We always recommend to both our buyers and sellers to be reasonable. On the buyer side stick to actual problems or repairs. If it’s an issue that the buyer will have to immediately pay for to have repaired…it’s a reasonable request. The biggest challenge items are either those called out as not up to current code, or items towards the end of their service life. Buyers need to understand that the statement “not up to current building code” does not mean it’s necessarily problematic. Codes change all of the time and unless it’s a clear safety issue, it’s usually best to stick with actual repairs. Items at the end of their service life really depend on the item, the cost and how extensive the rest of the repair list. We’ve found that asking for everything usually ends with the seller dismissing any repairs….even the reasonable ones.
Keith Kyle is a top producing realtor and Torrance real estate specialist with Vista Sotheby’s International Realty in the South Bay. Contact Keith for more information on how the home inspection and escrow process works in Torrance real estate.
Just Listed in Redondo Beach – Oceanview Studio in The Village
UPDATE – This home has been sold but there are other units for sale. Visit the homes for sale in The Village Redondo Beach for updated listings.
610 The Village #202 Redondo Beach CA
- Oceanview studio in The Village condos in Redondo Beach
- Well priced at $460,000
- 410 foot studio with 1 full bath
- Ocean view
- Community ammenities included multiple pools and spas, market/restaurant, fitness center, bbq areas and decks
- Low HOA of $265 a month
Welcome home to this luxury retreat and live the vacation lifestyle! This beautifully remodeled condo is the ideal beach retreat and the
community offers multiple pools and spas, oceanview deck, bbq area and access to the neighboring resort style pool, state of the art fitness center and market/restaurant. Perfect for those looking to buy instead of rent, those looking for a second home just seconds from the beach, and those that travel often and are looking for the perfect place to come home after a trip and sit back and relax…..610 The Village #202 is an ideal fit. Located just east of King Harbor and the Redondo Pier, this beautiful and rare ocean view studio is central to everything in the South Bay. The home was recently upgrated with granite counters, new stainless appliances, recessed lights, crown molding, new sliders to the patio, new carpet and new paint. Bathed in natural light the home feels much larger than the typical studio and much larger than the square footage would indicate. Enjoy beach breezes and ocean views from the home or the private balcony or head out for a stroll on the pier or along the beach.
Contact listing agent Keith Kyle with Vista Sotheby’s International Realty for more information or to set up a private showing.