Torrance homes with pools

Oh How Torrance Home Values Have Changed

By Keith Kylepool-west-new

I received an odd phone call yesterday from a potential buyer that said she had been given a real estate flyer for a listing at 16808 Delia in North Torrance.  She said it was a well priced short sale and it was.  The only problem was that I sold this house at the beginning of 2012.  It had been a while since I thought of this house and upon pulling up the old listing I struck me just how dramatically the market has changed since then.  It was a very nice home, with a great yard and pool but unfortunately the owners were struggling and had to do a short sale.  We listed the home at $520,000 and it closed at $502,000.

What would it sell for now?

It would be just about impossible to find any single family home in that neighborhood, regardless of condition and size for that price in the North Torrance Homescurrent market.  That home that sold only 2 years ago would now sell for at least $750,000 which is simply incredible.  The speed with which the real estate market in Torrance and the South Bay was stunning and the changes to value equally unbelievable.

How Quickly we forget?

Another aspect of all this that struck me was just how short our memories can be.  Just 2 years ago there were so many homes with great prices and most buyers thought it would continue and go even lower.  These days the poor buyers that didn’t buy are priced completely out of neighborhoods that would have been very affordable.  The thought now is that it of course can only continue going up, but is that really the reality and has that much changed?  It’s certainly a great time to be a home seller, but not necessarily a great time to be a buyer.

[idx-listings community=”North Torrance West” statuses=”1″ propertytypes=”516″ orderby=”DateAdded” orderdir=”DESC” count=”10″]

Median home prices near $600,000 for August 2014

By Keith KyleNorth Torrance Homes

August was yet another big month for home prices in Torrance and the South Bay with  average home prices continuing to rise and the busy summer season continuing at a fairly torrid pace. Home sales were down from July due to the continuing lack of homes for sale.  Click any city and month below to see the full list of homes sold.  Contact us for more information on any of the homes.

August saw a total of 117 homes sold, down from 142 in July.  Of the 117 homes sold, 82 were single family homes, 16 were townhomes, and 17 were condos.  In addition there were 9 income properties (duplex, triplex, etc.) sold  as well as.  Of the 117 4 were short sales or foreclosures showing that the foreclosure market continues to dwindle and is a non factor in the current housing market.  The median home price was $600,000 up from $540,000 the prior month.

Townhomes for sale - 2209 Nelson

July 2014 Median Home Prices in Torrance CA

By Keith Kyle

Townhomes for sale - 2209 Nelson

July 2014 saw some big numbers in terms of both number of homes sold as well as median prices.  Torrance CA  had 142 sold homes at a median price of $540,000 which was down from the same month in 2013.  Most other South Bay cities also saw some significant year over year increases in prices with the other exceptions being  Marina Del Rey and Playa Del Rey.  To see the actual homes sales in each city visit our recent home sales price and information site.

City Homes Sold July 2014 Median July 2013 Median Year over Year % Change
Carson 48 $382,500 $350,000 9.29%
El Segundo 15 $872,000 $797,000 9.41%
Gardena 50 $385,000 $332,500 15.79%
Harbor City 13 $4 80,000 $465,000 3.23%
Hawthorne homes 51 $505,000 $400,000 26.25%
Hermosa Beach 26 $1,230,000 $1,097,500 12.07%
Lawndale 8 $412,000 $331,250 24.38%
Lomita 13 $555,000 $452,000 22.79%
Long Beach 330 $400,000 $365,000 9.59%
Manhattan Beach 43 $1,795,000 $1,521,250 18.00%
Marina Del Rey 33 $757,500 $862,500 -12.17%
Palos Verdes Estates 51 $1,600,000 $1,291,000 23.93%
Playa Del Rey 23 $507,000 $512,000 -0.98%
RanchoPalos Verdes 54 $1,069,000 $1,100,000 -2.82%
Redondo Beach 97 $865,000 $758,000 14.12%
San Pedro 49 $440,000 $420,500 4.64%
Torrance 142 $540,000 $576,250 -6.29%
Westchester 48 $777,500 $715,000 8.74%
Home with "flags" marking outline of proposed addition in Torrance hillside overlay area

Torrance Real Estate Explained – Hillside Overlay

By Keith Kyle

Home with "flags" marking outline of proposed addition
Home with “flags” marking outline of proposed addition

A few of the many benefits of living near the beach are the wonderful ocean views and ocean breezes that make life here so unique.  These ocean views have immeasurable value from both a quality of life aspect as well as a significant monetary impact.  In many of the South Bay cities these views are unprotected and it’s not rare for a home’s stunning ocean views to disappear when the one story home next door gets torn down and new and much larger home replaces it.

Certain areas of Torrance are the exception. Primarily found in the Hollywood Riviera and Seaside Ranchos neighborhoods the city has incorporated much stricter building guidelines known as the “Hillside Overlay” area.  (see map below)

See the homes currently for sale in the Hollywood Riviera

In 1977, the Hillside Overlay Area was established in Torrance, CA in order to address issues concerning building, remodeling, and protecting views and privacy.  All new construction (meaning both new homes and expansions on current structures) are subject to review and input by neighbors including “flagging”  where a mock up of the future structure are marked with plastic flags  to approximate the outlines of any proposed addition to the structure prior to permit approval so that neighborhood input may be obtained.

Torrance Municipal Code Excerpt (Hillside Overlay)

The basics of the hillside overlay are as follows:  Upon receipt of the complete application, the Community Development Director shall set a date, time and place for a public hearing thereon as soon as practicable and shall send notice thereof to the owners of land included within a three hundred (300) foot radius of the exterior boundaries of the land for which the permit is sought

No construction and no remodeling or enlargement of a building or structure shall be permitted unless the Planning Commission (or the City Council on appeal) shall find that the location and size of the building or structure, or the location and size of the remodeled or enlarged portions of the building or structure, have been planned and designed in such a manner as to comply with the following provisions:

  1. The proposed development will not have an adverse impact upon the view, light, air and privacy of other properties in the vicinity;
  2. The development has been located, planned and designed so as to cause the least intrusion on the views, light, air and privacy of other properties in the vicinity;
  3. The design provides an orderly and attractive development in harmony with other properties in the vicinity;
  4. The design will not have a harmful impact upon the land values and investment of other properties in the vicinity;
  5. Granting such application would not be materially detrimental to the public welfare and to other properties in the vicinity;
  6. The proposed development will not cause or result in an adverse cumulative impact on other properties in the vicinity.

Torrance Hillside Overlay

 

Hollywood Riviera homes for sale - 340 Via Colusa

Welcome to Torrance Real Estate & Homes for Sale

By Keith KyleHomes for sale in the Hollywood Riviera

Welcome to Torrance real estate.  We have strived to offer the very best information and home search features on a local website designed specifically for Torrance home buyers and sellers.  As local Torrance and Redondo Beach real estate specialists we understand how unique Torrance is and how different and distinct the various areas can be.  From oceanfront homes in the Hollywood Riviera, to duplex and income properties in the County Strip area…..we can help.  Search for homes with our free Torrance MLS access or allow us to do the hard work for you with our FREE daily listing updates and know about new homes first.  Our website offers information on real estate markets and trends in each neighborhood, recent home sales and prices, current off market homes and MLS listings, short sales and foreclosures and information for home sellers to find out what their Torrance home is worth and how we have been so successful at marketing and selling homes in the area.  We hope that our website is a great place to start for all of your Torrance real estate needs.  Contact us as any time for questions or more information.

 

See the most recent listings below orbrowse through the menus above to search Torrance homes by neighborhood, price, or home type.

Search the Homes for Sale in Torrance

Search Homes For Sale By Neighborhood Torrance Links

Pocket and Off Market Listings are All the Rage in Torrance CA

By Keith KyleWest Torrance Homes

If you’re a home buyer at the moment, you’ve probably been a little frustrated with just how little housing inventory there is, how quickly the good homes sell, and how often they sell for far more than they were listed.  You’ve probably also heard the terms pocket listings and off market listings as those are definitely the buzz words of the moment.

So what do these words really mean and how do you find out about them?

Pocket listings and off market listings can mean several things, but basically they are homes that agents may, or may not, have formal agreements to sell, but are aware the sellers are interested in selling.  Most often the realtor has a written agreement to represent the sellers, but for one reason or another, the sellers either don’t want their home to be put on the MLS or perhaps they just aren’t quite ready.  In other situations it may be far more informal with either the homeowner telling a realtor “bring me a buyer and maybe I’ll sell” or something in which the owner would only consider selling at a price over the market value of the home.

So how does this help you?

The concept is pretty simple….the fewer buyers that know about a home the better the chances of having your offer considered and accepted.  Without the buyer frenzy that comes with most new listings these days the price may be kept at a reasonable level as well.

Torrance Home UpdatesSo how do you find these homes?

The best way to find these off market listings is to work with a successful local agent that specializes in the area you’re interested in.  It’s all about networking and the more owners, sellers and other agents the realtor is in contact with the more likely they may have ways of finding listings the public isn’t aware of.   Good agents will also actively seek out some unknown sellers with letters or even by door knocking.  Buyers can certainly try this on their own as well, but just won’t have the same reach as a well connected local agent.  If you would like us to help simply fill out our “let me know about pocket listings form” and specify if you want us to update you on all listings….or just the homes not on the market.

Be realistic

Although many deals are happening off market and it is a very good way of trying to find a home in a very challenging sellers market, buyers must be realistic.  Finding something off market generally doesn’t mean paying 70% of it’s value.  In our very high end market in which sellers have resources and information to know what their homes are worth, sellers are very savvy and often only willing to sell their homes off market if the price is right.

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Torrance realtor Keith Kyle
Keith Kyle
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