Editorial by Lucas Commiso
Real estate activity is known to be cyclical, and conditions vary by location. Hermosa Beach’s ‘Sand Section’ – stretching from Ardmore Avenue to the Strand – depicts a stalwart market favoring both property owners that are choosing to sell, and developers that are building luxury homes.
Currently, there are 6 new construction properties (built within the last 2/3 years) listed for sale in the Sand Section. On Manhattan Avenue alone, there are 11 properties in the process of being built. Each in different stages of the building, some projects are beginning foundation work, while others are well into framing or finishing the interior.
Colorful dawn in Hermosa Beach, California
The increase in construction activity correlates with demand for Hermosa real estate that lies to the west of Ardmore. The average sale price during the first quarter for a Sand Section home was about $3.281 million, up ~36% from $2.409 million in Q1 of 2018. The number of properties sold in Q1 increased from 7 in 2018 to 11 in 2019, further demonstrating the rising appeal of developing property that lies close to the coast.
Today’s market presently shows 30 Active properties, 5 Pending, and 11 Sold in the last 30 days. The absorption rate – the rate at which properties sell relative to a period of time – is calculated by dividing a given month’s number of sales by the number of homes available / listed. An absorption rate greater than 20% is indicative of relatively quicker home sales. Hermosa’s Sand Section has an absorption rate of 36.7%, a condition which favors local property owners.
It is critical to understand local markets beyond the current inventory. Please contact your RE/MAX Estate Properties agent to help you navigate the new construction market.
Lucas Commiso Realtor®, B.A. Business Economics
At RE/MAX Estate Properties
Jane St. John of RE/MAX Estate Properties
Please join us in congratulating and recognizing Jane St. John on earning the Champion of Mental Health Award from Westchester’s Airport Marina Counseling Service. This award honors Jane’s hard work, contributions, and years of support in AMCS’s aim of providing affordable mental health treatment. She received her philanthropic nature from her father, citing his love of giving back as an inspiration for her own work. In an article of her award in The HomeTown News, she stated, “…when I started to sell real estate, I thought, ‘If I’m going to sell homes in this community, I need to give back.’”
St. John became associated with AMCS in the 1980s and emphasizes the importance of mental health services for individuals, groups, and especially children. She expresses notably how necessary these services are to young children during adolescence, puberty, and transitional station. “Whether kids are bullied at school or dealing with identity challenges, these life transitions are hard to get through without guidance.”
Jane St. John will be honored at the Spring into Well-Being Celebration.
Outside of AMCS, Jane St. John supports other community organizations including Helen’s Room, a non-profit organization that provides a confidence-boosting service for cancer patients. Jane herself is a breast cancer survivor. Other organizations where Jane gives her support are the Education Foundation and the LAX Coastal Chamber. She also helps organize multiple community events such as the Playa del Rey Toy Drive, the Rock Roll & Run, and Jet to Jetty. Her kindness and selflessness show how one person can change many lives. Jane will be honored April 11, 2019, at the Airport Marina Counseling Service Spring into Well-Being Celebration. Tickets are $150. Congratulations, Jane!
Jennifer Riddle named Manager of the Year
RE/MAX LLC awards Jennifer Riddle as Manager of the Year
RE/MAX Estate Properties is proud to congratulate Jennifer Riddle on receiving Manager of the Year from RE/MAX LLC! Presented each year, this award recognizes the network’s most respected leaders. Achievements and leadership are major elements in the RE/MAX culture, and individuals who excel in these areas have a deep, positive effect on their communities, colleagues, and networks. The RE/MAX Awards & Recognition Program provides a way to honor these contributors by shining a spotlight on quality and excellence. The awards celebrate accomplishments, fortify reputations, and inspire others to reach higher in their own aspirations.
Jennifer joined RE/MAX as a receptionist in 2001, was promoted to Administrative Manager after her first year, and worked her way up to Director of Operations. She currently serves as a RE/MAX Ambassador for Children’s Hospital Los Angeles. Since embracing this role, Jennifer has helped RE/MAX achieve Diamond Status, the highest level of awards, from Children’s Hospital every year. The Manager of the Year Award is determined through a nomination process. Regions submit nominations in December, and the final selections are made at RE/MAX World Headquarters in January. She was selected as Manager of the Year out of 364 offices. Congratulations, Jennifer!
RE/MAX Estate Properties Welcomes Melanie Archer as General Counsel
Melanie Archer, General Counsel RE/MAX Estate Properties
RE/MAX Estate Properties is proud to welcome Melanie Archer as the company’s General Counsel. She is a valuable asset and we are thrilled to have Melanie lead our in-house legal team! Melanie has a deep knowledge of real estate and business law with a very practical approach. She assists our agents with one-on-one support, risk management, round table legal discussions, and agent education. She provides insight into the ever-changing real estate industry, while ensuring our agents are expertly trained on all new laws and policy changes.
Melanie practiced real estate and business litigation at Cox, Castle & Nicholson and later at Spierer, Woodward, Corbalis & Goldberg prior to joining RE/MAX Estate Properties. While there, among other things, she gained extensive experience in helping buyers, sellers, and their agents negotiate the difficulties that can sometimes arise when purchasing property. She previously worked with her husband at Archer Building Group, Inc. where she acquired extensive knowledge of the construction industry. She received her BA from USC and her JD from UCLA School of Law. She is also a real estate investor and owns/operates apartment buildings in Southern California.
Melanie is a South Bay native with three adorable, young boys. She spends her weekends watching little league games and trying to find time for tennis and yoga (good luck!). With a dynamic intelligence, Melanie can speak to agents about anything from residential and commercial sales to raising three boys. She is poised and has a calm demeanor. She’s helping RE/MAX Estate Properties soar to new heights by giving us a General Counsel with tremendous business comprehension and a willingness to amplify RE/MAX Estate Properties and our agents as a whole. We’re so happy to have her.
We’ve got the real estate market data you need for moving in this marketu. The better you understand your local market, the savvier a real estate investor you will be. We’ve made it very easy for you to stay up to date with our monthly Market Intelligence Reports! Westside, South Bay, and Palos Verdes each have their own report and highlight the communities within. Please enjoy and continue to edify your real estate market knowledge!
Palos Verdes Report
South Bay Report
Be in the know.
Dear buyers, sellers, and anyone remotely interested in Real Estate,
We’ve got a secret for you. The better you understand your local market, the savvier a real estate investor you will be. We’re stating the obvious, but it takes time and energy to do the research. Luckily, we’ve made it very easy for you to stay up to date with our monthly Market Intelligence Reports! Westside, South Bay, and Palos Verdes each have their own report and highlight the communities within. Please enjoy and continue to edify your real estate market knowledge!
Palos Verdes Report
South Bay Report
Give these Top Producers a round of applause!
The Answer: Warm & Inviting Open Houses!
Check out the full details HERE
These Open Houses are Mind Blowing!!
Get the details HERE