Real estate and homes for sale in the South Bay

Homes in the Beach Cities and South Bay

Looking For A Foreclosure in the Beach Cities? It May Be a While

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During the housing decline around 2007-2009 there were a fair amount of “distressed” home sales in the South Bay and Beach Cities.  Distressed home sales encompass bank owned homes, notice of default sales, REOs and short sales.  We’re still contacted by buyers hoping to find a deal in the distressed market.  Unfortunately for them there just isn’t currently a market.  Values have gone up so consistently that it’s fairly difficult to be “underwater” on a mortgage.  If people struggle to make their mortgage payments or receive a notice of default….there’s usually plenty of equity in their home to simply sell it, pay off the mortgage and still come out ahead.

As you can see from the chart below, the number of active, pending and closed “foreclosure” home sales has slowed to a halt.

The chart below shows the past 10 years of of active, pending and sold short sales and bank owned sales in Redondo, Hermosa, and Manhattan Beach.

Go Dodgers!

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As a lifetime Dodger fan I couldn’t be happier about our World Champion Dodgers!!!!!!

Dodger Stadium

The Basics on ADUS – Accessory Dwelling Units

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Accessory Dwelling Units (ADUs) are known by many names: granny flats, in-law units, backyard cottages, secondary units and more. No matter what you call them, ADUs are an innovative, affordable, effective option for adding much-needed housing in California.

What are the benefits of ADUs?

  • ADUs are an affordable type of home to construct in California because they do not require paying for land, major new infrastructure, structured parking, or elevators.
  • ADUs can provide a source of income for homeowners.
  • ADUs are built with cost-effective wood frame construction, which is significantly less costly than homes in new multifamily infill buildings.
  • ADUs allow extended families to be near one another while maintaining privacy.
  • ADUs can provide as much living space as many newly-built apartments and condominiums, and they’re suited well for couples, small families, friends, young people, and seniors.
  • ADUs give homeowners the flexibility to share independent living areas with family members and others, allowing seniors to age in place as they require more care.

 

New law effective January 1, 2019

As of January 1, 2019, homeowners who created accessory dwelling units (ADUs) without the required building permits may have the
opportunity to bring their ADUs into compliance. For ADUs that were constructed without building permits, local building officials now
have the option to inspect an ADU and apply the building standards that were in effect at the time the unit was constructed. This bill: SB
1226 (Bates), adds Section 17958.12 to the California Health and Safety Code, and with application of appropriate building codes, may
allow issuance of a building permit for the residential unit.

Other recent updates to state laws for ADUs

Effective January 1, 2018
The Legislature further updated ADU law effective January 1, 2018, to clarify and improve various provisions in order to promote the development of ADUs. These include allowing ADUs to be built concurrently with a single-family home, opening areas where ADUs can be
built to include all zoning districts that allow single-family uses, modifying fees from utilities, such as special districts and water corporations, and reducing parking requirements. Please see the HCD Technical Assistance Memorandum: Accessory Dwelling Unit Legislation (PDF), for more information.
Source: http://www.hcd.ca.gov/policy-research/AccessoryDwellingUnits.shtml

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