South Bay News

The best advice carries across multiple areas of life. Whether it’s relationships or homebuying, a few simple tips can help you stay on track.

Be patient. Due to increased demand, it’s taking longer to find the perfect home.

Embrace compromise. Nearly 7 in 10 homebuyers made compromises in the home they purchased.

Know your priorities. Being mindful of the most important things – and those which are just bonuses – will help you stay focused.

Commit. Gone are the days of back-and-forth negotiating. If you love a home, be ready to put forward your best offer.

Looking to buy a home this year? Connect with the Dennis Hartley Team so that you have a dedicated partner and teammate to help you find the one.

Photo by Evershot on Unsplash

For most of the last two years, the law of supply and demand has taken front and center stage in the housing market. Simply stated, when demand is high, prices rise; when supply increases, prices fall.

In today’s market, demand for homes is very high while the supply is very low so understandably, prices are rising significantly. Taking a closer look at a few questions can help clarify what this scenario means.

Why are Prices Rising?

According to latest economic reports, home prices have risen over 18% since this time last year. Buyer demand is simply outpacing seller activity by a wide margin, and this is true across the US.

Home prices may seem unreasonably high at the moment, but given the classic supply and demand perspective, it makes sense.

Where are Prices Headed?

The supply of homes for sale will greatly affect where prices head over the coming months. Many experts forecast prices will continue to increase, but they’ll likely appreciate at a slower rate.

Buyers hoping to purchase the home of their dreams may see this as welcome news However, perspective is important - a slight moderation of home prices does not mean prices will depreciate or fall. Price increases may occur at a slower pace, but experts still expect them to rise.

In fact, five major entities following the market closely are forecasting that home prices will continue to appreciate through 2022, as seen in this graph below.

What Does This Mean for Homebuyers?

If you’re waiting to make a move because you’re expecting prices to drop, you may end up paying more in the long run.

Even if price increases occur at a slower rate next year, prices are still projected to rise. That means the home of your dreams will likely cost even more in 2022.

The bottom line is, high demand and low supply are what’s driving up home prices in today’s housing market.

While prices may increase at a slower pace in the coming months, experts still expect them to rise.

If you’re looking to buy or sell, connect with the Dennis Hartley Team today to discuss what a move can mean for you.

Due to low supply and high demand, today is one of the strongest sellers’ markets we’ve seen.

There’s a reason why 73% of people believe it’s a good time to sell.

Sellers benefit from three things:

• More offers to pick from (3.8 offers in August 2021)
• Higher home values; the average home price appreciated 18% in the last 12 months
• A faster sales process; the average home sold in just 17 days in August 2021

Note to sellers – don’t miss out on this unique opportunity! Connect with the Dennis Hartley Team today so you can take advantage of this hot sellers’ market.

Photo by Randy Fath on Unsplash

With an autumn crisp now in the air, outdoor events are still going strong.

Everyone is invited to have fun shopping, sipping, dancing, and playing under our signature sunny skies.

Have a great, safe, and happy weekend!

SOAR: Monarch Migration

When: October 1 – November 30, 2021

Where: South Coast Botanic Garden

This brand-new exhibit is an up-close and personal experience with the Monarch butterfly.

Visitors are invited to learn all about this very special species, and how to care for and protect its future.

Manhattan Beach Hometown Fair

When: Saturday, Oct 2 – Sunday, October 3, 2021, 10am – 6pm

Where:  General area of Live Oak, Dorsey Field and the Joslyn Center in Manhattan Beach

Time-honored, weekend-long festival has live entertainment on three stages, arts and crafts, pony rides, petting zoo, games and rides, 50-foot slide.

Food booths, beer and wine gardens, and a free shuttle service are all part of the fun.

Hermosa Harmony Festival

When: Saturday, September 25, 2021; 5-9pm

Where: Near Hermosa Beach Pier

Five stages will include DJs, live performers, dancing, and wellness experiences for this first-ever silent beach festival.

Children and adults are invited to enjoy an immersive experience all through high-fidelity headphones.

Lots of music variety, Kids dance, yoga, meditation, breath work, shamanic fitness, non-alcoholic food and drink.

Tickets on Eventbrite.

Gardena Food, Wine & Brew Festival

When: Saturday, October 2, 2021, 12noon – 7pm

Where: Gardena City Hall Lawn

Presented by the City of Gardena, food, wine, beer, and retail vendors invite guests to enjoy all-day festivities and raise funds for local Seniors charities.

Live music and a Cigar Lounge add to the fun. Tickets on Eventbrite.

Standing out as a buyer is critical in today’s sellers’ market. Multi-offer situations and bidding wars are the new normal, due to low inventory of homes for sale and very high buyer demand.

As a buyer during this fall season, if you’ve found the home of your dreams, you’ll want every advantage. The following are five things to have in your hip pocket when it’s time to make an offer.

1. Know your budget. Being mindful of what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so that pre-approval for a loan is already complete once your search begins.

Experts say that pre-approval gives way to a buyer’s greater confidence and equally important, demonstrates to the seller a serious intent to buy – which offers a competitive edge. Pre-approval enables a buyer to act quickly when they’ve found their perfect home.

This list of top lenders, published by money.com, can be helpful when looking at lenders to work with.

2. Be prepared to move fast. According to top real estate sources, the average home is on the market only 17 days. In July 202, the vast majority of homes were on the market for less than a month.

There is no time like the present to have an experienced, expert Realtor by your side, as staying on top of the market and moving quickly are essential like never before. Once you’ve worked with your agent to find your dream home, their help with crafting and submitting your best offer can happen as soon as possible.

3. Your Realtor can lead you to victory. Again, the company you keep throughout this process is critical to your success. Your trusted agent helps to make informed decisions and avoid pitfalls based on their expert experience in this field.

They especially know how to uniquely cater to a seller who is looking at multiple offers and, how to make yours stand out.

4. Craft a strong, fair offer. In today’s competitive market, 50% of offers on homes are above the list price, so both price and emotions can run high at the time an offer is made.

At the right time, your trusted agent can help you understand the following so that a strong, fair offer is made:

• The market value of the home
• Recent sales trends in the area
• Current buyer demand

5. Understand the Seller’s needs, but resist waiving certain contingencies. Here is where your trusted agent will help you understand which levers are safe to pull if and when a negotiation takes place.

Certain contract contract contingencies may well suit both buyer and seller, and others are conditions are not recommended, per real estate experts.

In particular, Freddie Mac explains the following:

“Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”

The bottom line is that today’s red-hot market makes it more important than ever to make a strong offer on the home of your dreams.

Make the experience an extraordinary one by connecting with an experienced group like the Dennis Hartley Team, and ideally look forward to your offer rising to the top.

Whether you’re buying or selling, today’s housing market has lots of good news for everyone involved!

Buyers have a fantastic opportunity to get low mortgage interest rates, reap benefits of escaping rising rents, and secure an affordable monthly payment.

Sellers are in the catbird seat to receive multiple offers and fast sales.

If any of the above sounds like good news to you, connect with the Dennis Hartley Team today – we’re the expert partner you deserve for capitalizing on these unique benefits in the market right now.

Autumn officially arrived on Wednesday. Jewel-toned carpets - with movement, art, music, film, and cars - are rolling out to welcome the season, offering something for everyone.

Have a great, safe, and happy weekend!

Row for a Reason

Friday, September 24, 2021; 4-10pm

Saturday, September 25, 2021; 7am – 12noon

This special fundraiser supports the Cancer Support Community Redondo Beach, and invites rowers and those who would like to explore the sport.

The fun includes a raffle and margarita bar for the kickoff on Friday night. 

Body One Fitness

201 Herondo Street

Redondo Beach 90277

Dylanfest

Saturday, September 25, 2021; 12noon – 8pm

Day-into-night festival features top local musicians, to celebrate the music of Bob Dylan.

Guests are invited to attend in costume or themed clothing to feel more immersed in the atmosphere.

Discount for advanced ticket purchase; special prize for child’s ticket.

Torrance Cultural Arts Center

3330 Civic Center Drive

Torrance 90503

In the Moment, Opening Reception

Saturday, September 25, 2021; 5-9pm

First small group show in 18 months features the contemplative mixed-media art of three local South Bay Artist Collective Members, sharing hope of being in the moment and what comes next.

Beautiful art, snacks and drinks.

Free admission; registration on Eventbrite.

Resin Gallery

618 Cypress Avenue

Hermosa Beach 90254

Manhattan Movie Nights

Saturday, September 25, 2021; 6pm doors open; movie at 8pm

Street Food Cinema presents outdoor screening of The Addams Family, along with picnic-ready food trucks, live music, interactive games and more.

Westdrift Golf Course

1400 Park View Ave

Manhattan Beach  90266

SUNDAY CAR SHOWS – REDONDO BEACH AND MANHATTAN BEACH

Sunday, September 26, 2021

Rods, Rides, Relics Car Show displays some of the finest classic cars in the South Bay, over the water on the Redondo Beach Pier on Sunday from 10am – 3pm.

100 – 500 Fisherman’s Wharf

Redondo Beach 90722

Downtown Manhattan Beach Car Show is here for its 3^rd Annual event, with proceeds benefiting the Manhattan Beach Police K-9 Foundation.

This open-air, street fair has live music, dining at local restaurants and bars, family fun, raffles and prizes on Sunday from 10am-2pm.

Manhattan Beach Blvd near the Pier

Manhattan Beach 90266

Small-space living - even in a few rooms of your home - is good for the environment and easier on the wallet. It can also be a way to show off chic décor if you’re so inclined! Here are a few ways to be both efficient and stylish.

In the kitchen and dining areas

• Create a unified look by using one statement stone for counters, backsplash, shelves, and vent hooding.
• Monochrome is very cool with something like black-and-white prints and photos of varying size and scale.
• A crystal-like chandelier will draw the eye ceiling-ward, creating the illusion of height.
• Skip the island and opt for a round pedestal table to serve as both extra prep surface and a bistro dining table for two.

In living areas

• Build custom seating, like custom banquettes on either side of a room; they may also serve as guest beds when the back cushions are removed.
• Floating shelves with white-potted plants add visual interest and a sense of order, especially if plants are colorful and exotic.
• Incorporate larger seating like a sectional set neatly in a corner.  
• Create a heritage feel with clever placement of vintage treasures. Even chandeliers, large mirrors, and crown mouldings can make a small place feel bigger.

In the bedroom

• With plain or paneled walls, repeat brightly textiled patterns for window coverings, headboard and bedding, to create a sense of continuity.
• Let a guest room or small bedroom opt for a Murphy bed and offer mixed-use space. When the bed is not in use, there’s a studio for yoga, photography, crafts, etc.
• Think like a retailer and organize an exposed closet with items grouped as found in a boutique; some things on hangers, some folded neatly underneath.

In the bathroom

• Add a corner shower (without sacrificing much floor space) to make a 3/4 bath.
• Splurge on high-end fabric curtains, extra-plush towels, and Euro-style fixtures.

Around the house

• Make a fashion statement by placing things like favorite hats on a rack in the hallway, to add fun color and inspiration to wear them more often.
• Think big – in size and attitude. Fewer, larger pieces of art can make a small room feel more spacious and inviting.

Photo by deborah cortelazzi on Unsplash

The feel of Autumn has arrived and our community is rolling out signature fun for everyone to enjoy.

Have a great, safe, and happy weekend!

Annual Studio Sale

September 1-30, 2021

Limited edition, one-of-a-kind artwork – perfect for gifts - by Sand Meditation Artist Cansu Bulgu, is offered at special prices for this month-long event.

Gallery also offers art consultations for home and business; all visits to gallery are by appointment only.

Cansu∞Art™ Gallery

Del Amo Fashion Center

3525 Carson Street, Suite 439

Torrance 90503

Instagram: @cansuartgallery

LA Kings 5K/10K Run/Walk

Saturday, September 18, 6:45am

Join LA Kings players and other esteemed hosts at this annual event (minus last year ;) to run, glide, skip, or skate through Riviera Village and along the ocean to raise funds for the Kings Care Foundation.

Music, food and drinks, vendors, prizes round out the fun.

Registration required; click on image for website details.

Riviera Village

Catalina Avenue and Avenue I, Redondo Beach 90277

Festival of the Kite

Sunday, September 19, 2021

12noon – 5pm

One of the longest-running kite festivals in the country, this free event welcomes children of all ages with contests, live music, hot dogs, dancing, and mass group kite ascension flight at the end.

Redondo Beach Pier

500 Fisherman’s Wharf

Redondo Beach, 90277

Circus Cabellero

September 9-20, 2021

This popular Latin, 3-generation circus promises fun and excitement for children of all ages – juggling, acrobats, even a daredevil motorcycle act.

Afternoon and weekend performances; children’s coupon offered. Click on image for website details.

Del Amo Fashion Center

3525 W Carson St., Torrance 90503

Lobster Rock Weekend

Saturday-Sunday, September 18 and 19, 2021

A crustacean celebration with food and drink specials, live music by several bands throughout the weekend.

No tickets required, just show up and have fun.

Rajin Cajun

525 S Pacific Coast Highway, Redondo Beach, 90277

The kids are back in school ready to resume another year of academic learning. Pumpkin Spice Lattes have returned to Starbucks. Leaves are starting to fall on well-manicured yards.

Autumn has arrived.

The autumn real estate market has also begun and will continue until Thanksgiving. This time of year is not considered to be the “prime selling” season for real estate. The market is shifting into a lower gear. Inventory, demand, and closed sales will all fall, but not by as much as you might imagine. 

An examination of the sales data for the last five years shows that an average of 264 Redondo Beach homes closed escrow in the spring season.  The autumn season, in those same five years, saw an average of 208 homes change hands; a decline of only 20%.

With kids back in school, it is not the most advantageous time of the year to move. Some families opt to place their home search on hold and wait it out until spring. Similarly, there are fewer homeowners who decide to sell at this time of year.

Many buyers mistake the end of the year as the best time to purchase, believing they can "get a deal during the slower months". That is not the case. Instead, home prices will remain strong through 2022. With both the inventory and demand dropping at similar rates, the overall feel of the market will not change.

 Photo by Alisa Anton on Unsplash