I had a listing about a year ago for a very nice townhome in Inglewood, California.   I knew I had a challenge ahead when I pulled up the street to meet the owner and saw at least 15 for sale signs, many of which had "bank owned" or "foreclosure" on them.  As I have written in prior articles, in terms of real estate the South Bay is not one large community, but a number of very different towns with values and demand basically increasing as you get towards the beach. The cities within couldn't be more different and factors that impact one area, such as in Inglewood, may not play any role in some of the areas such as Manhattan Beach.  I've noticed lately that the market slowdown, economic crisis, financing difficulty may be starting to make their way towards the beach.  While the market in the Beach Cities has remained fairly strong compared with other nearby areas, we're definitely seeing an increase in inventory, days on market, and the inevitable reductions in price.

Signs of the times....coming to Redondo Beach

What does this mean for you?  For home sellers in Redondo Beach it means that if they really want to sell their home, they need to understand that pricing aggressively and preparing the home is key.  There is a short window when the house is a new listing, that agents and buyers will be focusing their search and it's critical to be the home that they feel is the nicest, or best value.

For home buyers, this means that it's a wonderful time to be looking.  Motivated sellers, price reductions, negotiable terms, and ample choices make it an ideal time to be looking.  Keep in mind that if you're waiting for the "bottom" of the market....so are many others.  Not only might you miss it, but once the market swings you may be back in a situation in which you're competing against other buyers, struggling to find deals, and may no longer be dealing with sellers just so willing to negotiate.

Keith Kyle - Realtor, e-Pro - South Bay Brokers - 2501 N Sepulveda Blvd Manhattan Beach, CA 90266 - 310-251-2344 - Keith.Kyle@SouthBayBrokers.com 

For real estate information, open houses, and FREE MLS access visit www.KeithKyleHomes.com