Community News

Polished: Market Update

Blog, Buying, Community News, Dunham Stewart, Market Minutes, Market Updates, Real Estate News, Real Estate Tips, Redondo Beach, Uncategorized   |   Dunham Stewart

From busier than usual beach parking to longer lines for dining al fresco, and the slight underlying scent of sunscreen… all the signs of another exciting summer abound. It seems there is fun to be had and it’s all outdoors in an attempt to catch a breeze in this heat!
The rise in temps all around can also be seen cooking up the rising rents in the area! The sales of apartment buildings in the South Bay have nearly tripled recently. Giving the new owners a fantastic reason to do a few upgrades (great for the construction companies!) and therefore pass that cost onto their tenants.
This rise in rental property transactions have been linked to several factors including reality TV renovation shows as well as the soon to be finished NFL stadium. It’s more than likely a combination of a few factors. No matter how you look at it, upgrading current buildings brings a new found inspiration for economic growth throughout the area.
For more articles, click HERE

POLISHED *Market Update*

Blog, Buying, Community News, Dunham Stewart, Market Minutes, Market Updates, Real Estate News, Real Estate Tips, Selling   |   Dunham Stewart

We are now seeing record high selling prices for homes in many markets of California and the nation.

The sky high home values that seemed unbelievable back in 2007 have now been eclipsed in many of the larger markets of the state. The markets in the Bay Area now boast the highest values and record fast sell times.

 

Demand Conditions

  • Employment is strong throughout the state. In all coastal counties, the unemployment rate is now at the full employment level, meaning that job opportunities are relatively abundant and wages are rising.
  • The average rate for a 30-year fixed mortgage was 3.83% this week — significantly below the 5% to 6% range during the 2005 to 2007 “bubble” years.
  • In fear of facing higher interest rates because of overt statements by the Federal Reserve to push rates higher in a measured fashion, demand for mortgages has increased.
  • Because consumer confidence in March was at its highest level since 2000, people in general are feeling very confident about their employment prospects, their future income prospects, and the stability of the economy right now.
  • The financial market composite indices are at or near all time record highs. Households owning financial assets are feeling more wealthy today than during the previous 10 years.

Click HERE for the full article.

April Market Update

Blog, Buying, Community News, Dunham Stewart, Market Updates, Real Estate News, Real Estate Tips, Selling, South Bay Living, Uncategorized   |   Dunham Stewart

Here in the Beach Cities, spring is in full bloom and there are signs of it all around us.

In real estate markets near and far, growth is abundant and it looks like it will continue that way for at least a bit!

According to National Mortgage Professional Magazine, “… Sky-high potential price gains may be finally prompting more homeowners to sell.” This is fantastic news for sellers and buyers alike. Movement increases inventory. Inventory increases a buyers choices. We all like choices! The unique and distinctive properties available on the market right now are not to be missed!

Read more by clicking HERE!

*Market Update*

Blog, Buying, Community News, Dunham Stewart, Hermosa Beach, Hermosa Beach News, Market Updates, Uncategorized   |   Dunham Stewart

“Hermosa Beach will temporarily permit residents of commercial areas to rent out their homes to vacationers on sites like Airbnb.com — even as it fights a court challenge to its outright ban on them in most neighborhoods.”

 

Read more by clicking HERE

*January Market Update*

Blog, Community News, Hermosa Beach, Hermosa Beach News, Manhattan Beach, Manhattan Beach News, Market Updates, Real Estate News, Redondo Beach, Uncategorized   |   Dunham Stewart

Housing Market Update Pic1

In December the Federal Reserve announced that they were raising their short term rates for the first time in 2016 by a quarter percentage point between 0.50% and 0.75%. This was only the second time in more than a decade. Although they projected rates would raise more quickly in 2017 that did not happen after their first policy meeting February 1st. The Feds reaffirmed in their meeting that they would hold firm on interest rates for now although projecting increases would come later in the year.
Please take time to review the latest housing market trends for our South Bay Cities below. Sales in Palos Verdes, Manhattan Beach and Hermosa Beach continue to rise while Redondo Beach shows a dip in sales.
Read full report by clicking HERE

Beach Cities: 2016 New Construction Summary & New Home Pipeline for 2017-2018

Blog, Community News, Dunham Stewart, Hermosa Beach, Hermosa Beach News, Manhattan Beach, Manhattan Beach News, Market Minutes, Market Updates, Real Estate News, Real Estate Tips, Redondo Beach, Selling, Uncategorized   |   Dunham Stewart

Happy New Year!

I wanted to share with you the latest information of the South Bay new home sales from 2016. Also, see what 2017-2018 holds for new home pipeline.

 

Market Update – January 2017

Blog, Buying, Community News, Dunham Stewart, Hermosa Beach, Hermosa Beach News, Manhattan Beach, Manhattan Beach News, Market Minutes, Market Updates, Real Estate News, Real Estate Tips, Uncategorized   |   Dunham Stewart

Happy New Year!

CoreLogic reported in late December that home buying saw the fastest November in more than four years even though the month’s sales totaled 7.5% below 1988 month average.  The surge in sales increased what buyers paid. Our relatively robust local job market created more job opportunities along with pay hikes nationwide.  Fewer absentee buyers were reported.  Mortgage financing was not used in 21% of the deals.

For full report, click HERE!

jan17_sales

Housing Market Update – November 2016

Blog, Buying, Community News, Dunham Stewart, Market Updates, Real Estate News, Selling   |   Dunham Stewart

After falling to the lowest level in 50 years, the U.S. homeownership rate bounced up slightly in the third quarter of this year. Corelogic reports that the amount of equity homeowners now have has doubled in the last five years sales.

For the full article & market report, click HERE!

Housing Market Update Pic1

Housing Market Update – October 2016

Blog, Buying, Community News, Dunham Stewart, Market Updates, Real Estate News, Real Estate Tips, Selling, Uncategorized   |   Dunham Stewart

“Existing-home sales rebounded strongly in September and were propelled by sales from first-time buyers reaching a 34 percent share, which is a high not seen in over four years, according to the National Association of Realtors®. All major regions saw an increase in closings last month, and distressed sales fell to a new low of 4 percent of the market.”

Click HERE for complete article, plus inside market info!

Housing Market Update Pic1

 

Exciting News in South Bay Real Estate

Blog, Community News, Real Estate News   |   Dunham Stewart

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Exciting news at South Bay Brokers!  I am proud to be part of such a great local firm, South Bay Brokers, for the last 13+ years.  With a stellar reputation going back 30 years, South Bay Brokers is the gold standard of the local real estate community.  The local strength and esteem of South Bay Brokers has now combined with the globally respected brand of Sotheby’s International Realty.

    The new company will function under the name Vista Sotheby’s International Realty, combining the traditional “sunset over the ocean” logo of South Bay Brokers into the new logo. We will now operate within six offices with nearly 200 affiliated agents.

The world of real estate is changing, and our local real estate market is world renowned! This combined “Local Touch and Global Reach” is a perfect fit.

    This opportunity will open new doors, and allow access to multiple tools and networks. I am very excited to share all the benefits of the new company with my current and new clients.  These resources are great assets that will continue to allow me to provide my clients with the ultimate service in the changing world of real estate. 

(Please note my new email: dunham.stewart@vistasir.com; My South Bay Brokers email will still receive and forward, but please make the change in your contacts.  All other information is the same, including cell and office address.)

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