South Bay Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Sept. 3, 2019

5 Reasons to Sell This Fall

5 Reasons to Sell This Fall | MyKCM

Below are 5 compelling reasons listing your home for sale this fall makes sense.

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase…and are in the market right now. More often than not, in many areas of the country, multiple buyers are competing with each other to buy the same home.

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Housing inventory is still under the 6-month supply that is needed for a normal market. This means that in the majority of the country, there are not enough homes for sale to satisfy the number of buyers.

Historically, a homeowner would stay an average of six years in his or her home. Since 2011, that number has hovered between nine and ten years. There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years due to a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.

Many homeowners were reluctant to list their homes over the last couple years, for fear that they would not find a home to move to. That is all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase. Don’t wait until additional inventory comes to market before you decide to sell.

3. The Process Will Be Quicker

Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and simpler, as buyers know exactly what they can afford before shopping for a home. According to Ellie Mae’s latest Origination Insights Report, the time needed to close a loan is 43 days.

4. There Will Never Be a Better Time to Move Up

If your next move will be into a premium or luxury home, now is the time to move up. There is currently ample inventory for sale at higher price ranges. This means if you're planning on selling a starter or trade-up home and moving into your dream home, you’ll be able to do that in the luxury or premium market.

According to CoreLogic, prices are projected to appreciate by 5.2% over the next year. If you’re moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage) if you wait.

5. It’s Time to Move on with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to these questions. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

March 20, 2019

The South Bay and Beyond

Welcome back to The South Bay and Beyond brought to you by Schneider Properties. Being South Bay natives ourselves and enjoying everything amazing that the South Bay has to offer, we wanted to take some time to recognize and celebrate members of the community, events and local news and businesses that make our town so special.

in the news:



Manhattan Beach has vowed to step up policing of illegal short term rentals as officials again take up the hot button issue on March 6. Local opinion on the allowance of such rentals, which have been prohibited in the city since 2015, spans the spectrum. 

But, regardless of whether city leaders decide to double down on the ban as currently written or instead adopt an ordinance allowing limited short term stays—enforcement will be coming, according to Community Development Director Anne McIntosh.   Read more here...

life at the beach:



Life by the beach is getting more musical as the lineup continues to grow for a new festival with a Grammy-winning singer and local reggae rockers coming to a massive Redondo Beach concert in May.

Officials with the three-day BeachLife Festival just announced the addition of Grammy Award-winning singer Jason Mraz, along with San Diego-born rock-reggae group Slightly Stoopid, Hermosa Beach’s Tomorrow’s Bad Seeds, Los Angeles folk-rock band Dawes, Big Head Todd, and The Monsters and singer-songwriter Anuhea to the May 3-5 music and food event.   Read more here...

When: May 3-5
Where: Seaside Lagoon, 137 N. Harbor Drive, Redondo Beach
Tickets: Prices range from $239 for a three-day general admission pass to $2,000 for Captain’s Pass, which includes amenities such as backstage access, drinks, and valet parking.

get involved:



The 7th Annual Sketchers Tour de Pier is a unique fundraising event that brings one of the hottest indoor fitness activities - stationary cycling - to the gorgeous outdoors of Manhattan Beach. Ride in place with an ocean view!

Stationary bikes on The Strand overlooking the Manhattan Beach Pier. You can register for a five-hour session and can either share the bike with team members or ride individually. The South Bay’s best instructors and celebrity guests will spin you through a session with energizing music and loads of excitement and energy.   

This Tour de Pier is organized to raise funds for the following cancer charities: The Hirshberg Foundation for Pancreatic Cancer Research (, The Uncle Kory Foundation ( and Cancer Support Community(

Read more here...

what's trending:


Inspiration is everything. Spring is coming and a great time to work on your homes curb appeal. An easy way to increase the charm of your home is to add a pop of color. Look at these four amazing color choices for doors! Which one is your favorite?

around town:




Manhattan Beach @ 13th Street & Morningside 11 a.m. to 4 p.m.

Hermosa Beach @ Pier Plaza 1 p.m. to 6 p.m.

Redondo Beach @ Veteran’s Park 8 a.m. to 1 p.m.
El Segundo @ Main Street between Holly & Pines Avenues 3 to 7 p.m.

Hermosa Beach @ Valley Drive & 11th Street Noon to 4 p.m.

Torrance @ Wilson Park 8 a.m. to 1 p.m.

Riviera Village @ Via el Prado 9 a.m. to 2 p.m.
Palos Verdes/Rolling Hills  8 a.m. to 1 p.m.

designer spotlight:


Kate Lester is a Los Angeles based designer who has been practicing luxury residential and commercial interior design for over 15 years.

Drawing inspiration from classic architecture, design greats, and her own clients’ passions, she aims to create spaces that are carefully crafted, thoughtfully curated, and the embodiment of livable luxury.

Kate earned her BS degree from USC’s prestigious Marshall School of Business and went on to study Design and Architecture at Otis College in Los Angeles. Her industry experience includes working for some of Hollywood’s most famous designers before launching her own firm in 2010.

With a diversely talented design team in her studio and now a home store in Hermosa Beach, – Kate is spreading her vision of livable luxury and carefully curated interiors with the masses.

fun fact: 


Los Angeles Clipper DANNY MANNING bought a $2.9-million house in Hermosa Beach--the highest price ever paid for a home in that South Bay city.

"He was living in a rented apartment in Manhattan Beach and loved the area so much, he wanted to stay," said Michael Selsman, director of corporate affairs for Donald T. Sterling, who owned the basketball team.

The injured Manning sat on the sidelines most of last season, his rookie year, but the 6-foot-11-inch forward was still described as the team's "$10.5-million man" because he was getting $2.1 million annually for five years. His home purchase was an all-cash deal within 5% of the asking price.

After some years and remodels, this home did come back on the market in 2017 for $21MM and dropped down to $17.5 million before the listing was removed in late 2018.

Source: LA Times; CRMLS

Posted in Local Profiles
Oct. 18, 2018

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Posted in Market Updates
Aug. 24, 2018

Neighborhood Spotlight: The Brothers behind the Simms Restaurant Group

We've all heard about the infamous Simms Restaurant group and have seen first hand how everything they touch seem to be a success. Well, a strong family history and two hard working brothers are some of the secret sauce behind it. Here is a little more about two of our favorite local restauranteers Mike and Chris Simms...  


Mike Simms

“It’s in my genes, I had no choice!” A Southern California native, Mike Simms knew from an early age that he would foray into the world of hospitality. He and his brother grew up running around the kitchen and under the tables at French Market in West Hollywood and The Kettle in Manhattan Beach – his father’s and grandfather’s restaurants – but later did stints washing dishes and busing tables for spending money throughout high school. 

After graduating from Cornell’s prestigious Hotel School, Mike moved to the Napa Valley and managed Tra Vigne restaurant, where he was able to fully immerse himself in food. In trying his hand at home brewing, traveling to the world’s best wine regions and developing relationships with various winemakers, Mike came to realize his passion for beer and wine. In 2005, he took this experience and returned to his native Southern California, compelled to connect local restaurants to surrounding farms, breweries, and wineries and celebrate all things craft.  He joined forces with his father Tom and brother Chris to form the Simms Restaurant Group. 

In 2007, Mike developed the Tin Roof Bistro in Manhattan Beach. Amidst delays, he stumbled upon vacant space just steps from the ocean in Manhattan Beach and decided (along with his brother Chris) the neighborhood needed a spot that served a simple, delicious burger and quality craft beer and wine. This concept quickly came to fruition in the form of Simmzy’s and opened in 2009, three months before Tin Roof Bistro. In 2011 Mike partnered with Chef David LeFevre to open Manhattan Beach Post.  Building on their partnership, The Simms-LeFevre team later opened Fishing With Dynamite (2013), and The Arthur J (2015), named after Mike’s grandfather, also in Manhattan Beach.   Meanwhile, in 2012 Mike shared his knowledge and passion for wine and beer and ventured out of Manhattan Beach to open a second Simmzy’s in Belmonte Shore, followed by additional locations: Simmzy’s Burbank (2015), Simmzy’s Venice (2015), Simmzy’s Huntington Beach (2015).  And in 2016, Simms Restaurant Group debuts its newest concept, Lil’ Simmzy’s on the Deck at The Point in El Segundo, CA.  Lil’ Simmzy’s echoes the original Simmzy’s vibe with an ultra-laidback menu of beach grub designed for recharging and relaxing with a local craft brew on the patio.

Whether it’s teaching servers about new styles of beer, encouraging cooks to use new techniques, or honing his own palate with an Introductory Sommelier Certificate, Mike is a firm believer in empowerment through education. In the same vein, Mike prides himself on promoting from within (a current GM started off as a server, and a one-time dishwasher now boasts the title of executive chef), and truly believes in putting people first.

When he’s not at Simmzy’s, Mike can be found surfing in Manhattan Beach, spending time with his wife and four kids, or planning his next aerial flight over California’s wine regions.


Chris Simms

Born and raised in Southern California, Chris Simms has been involved in the restaurant business all of his life. While attending Cornell University, Chris worked his way up the ladder through various restaurants both in the kitchen and the dining room and began working for P.F. Chang’s China Bistro when he graduated.

After three years with P.F. Chang’s, Chris decided to continue his education in the restaurant industry by beginning work with Mimi’s Cafe?, the restaurant company founded by his father, Tom Simms. Chris and his team opened the first Lazy Dog in Huntington Beach, CA in 2003.

Lazy Dog serves handcrafted American food and drink with seasonally-inspired ingredients. When you walk in, you get a small mountain town vibe from the warm, caring service and the rustic social setting. Lazy Dog is a great place to get together with friends and family, making it the casual dining choice for the next generation.

As CEO, Chris keeps a close eye on operations while guiding the concept and developing new sites resulting in the 30th Lazy Dog to be opened in Chicago, IL in December of 2018.

Chris and his team look forward to executing an aggressive, yet prudent growth plan over the next several years that will include openings in markets across the country.

Posted in Local Profiles
Aug. 6, 2018

Neighborhood Spotlight - Lawndale

One of the endearingly ironic things about the Los Angeles area is that its place names often gesture toward the sylvan past, no matter how incongruous all of the “Gardens,” “Parks” and “Woods” strewn across the basin by real estate developers of yesteryear are to the realities of life in today’s congested metropolis.

Although it may be (depending on the scrupulousness of the original marketers of the developments in question) that these were once accurate descriptors, the contemporary presence of gardens, parks and woods in any of the neighborhoods named after such pleasingly pastoral features is by no means guaranteed.

There are, however, place names that manage to describe exactly what is to be found around their pinpoint on the map, and Lawndale is one of them.

The city is in the Centinela Valley, which ticks the “dale” box, and there are certainly lawns aplenty in this South Bay haven of single-family homes — although those tiny parcels of manicured, green grass did not fully flourish until nearly 50 years after the town was named.

Originally, Lawndale was part of a rancho, like most of the South Bay. A Scottish nobleman named Burnett bought it at auction in 1868 and shipped off for the auld country once his immediate forebear passed and he could take control of his long-waited inheritance.

That left the future city of Lawndale in the hands of tenant farmers named Daniel and Catherine Freeman. The couple had no sooner signed the lease for the land before a crippling drought laid waste to their herd of sheep.

By necessity they began dry-farming the barley and other drought-resistant crops that would define Lawndale for the next 70 years, although a string of real estate speculators would do their level best to rebrand the town as a desirable suburban development.

Charles Hopper was the first to attempt to turn dun-colored fields of barley into American greenbacks. With great fanfare he opened the bidding for his new Lawndale subdivision in February 1906. He had so few takers that he held a second, grander grand opening four months later that similarly tanked.

But Hopper had, as it were, planted the seed of Lawndale. It would not be until 1958 when his suburb was fully realized. That was the year that a zoning change killed the last farms in the area. One year later, Lawndale incorporated as a city of modest homes, each with its own grassy patch to mow.

Neighborhood highlights

South Bay bargain: There are not many places in the South Bay where you can find a home fewer than four miles from the beach for less than $600,000, and Lawndale is one of them.

Small town, big amenities: Whatever Lawndale may lack due to its size, its neighbors make up for with Redondo’s South Bay Galleria and El Segundo’s dining hot spots a short drive away.

South Silicon Beach: Lawndale is adjacent to the burgeoning tech hubs of El Segundo and Hawthorne, making it potentially appealing to techies looking for starter homes.

Neighborhood challenge

Inventory shortages: Many of Lawndale’s single-family homes are renter-occupied, which means that homes hit the market less frequently, and those that do may have been modified to be multifamily.

Expert insight

Mary Bracewell, a Schneider Properties agent active in Lawndale since 2010, said her team recently sold a home for $15,000 over the asking price before it hit the market. She credits a spike in South Bay developments.

4620 W. 172nd Street # 2 Lawndale, CA. Sold for $405,000 by the Schneider Properties Team

“The new stadium being built in Inglewood is going to have a spillover effect to surrounding areas like Lawndale,” Bracewell said. “Because of the size of this project, it has the potential to be an economic catalyst for communities in and around the South Bay.”

Lawndale is drawing families with relative affordability, wide residential streets and proximity to the beach and other attractions. South Bay Galleria, found on Lawndale’s southern border, was approved in April for a massive redevelopment that will add 330,000 square feet of retail, dining and office space and a 300-unit apartment building.

Market snapshot: In the 90260 ZIP Code, based on 10 sales, the median sales price for single-family homes in June was $600,000, up 12.2% year over year, according to CoreLogic.

Report card:Within Lawndale are nine public schools. Four of them scored above 800 on the 2013 Academic Performance Index: Lucille J. Smith Elementary, at 834, Jane Addams Middle, at 825, William Green Elementary, at 817, and Billy Mitchell Elementary, at 800.

Leuzinger High, the area’s largest high school, scored 671.

Article was contributed by Jack Flemming, LA Times 

Posted in Market Updates
July 20, 2018

5 Easy Steps to Refresh Your Bedroom in an afternoon

5 Steps to Effortlessly Refresh Your Bedroom in a Single Afternoon. Modern Farmhouse Style Bedroom.

Blog post from the amazing Cynthia Harper Living...

I love changing a space to make it feel fresh and inviting, but the reality is that time doesn’t always allow for majorly intense projects that overhaul your entire bedroom.   However, there are 5 simple and quick changes that can be done effortlessly that will transform the feel of your entire bedroom!  These things can be done in a single afternoon, so that you still have plenty of time for allllll the other things you want to do!

Step 1: Swap Your Throw Pillows

5 Steps to Effortlessly Redecorate Your Bedroom in an Afternoon. By Cynthia Harper. Modern Farmhouse Style.

Throw pillows are such an easy change to make, and yet they have a big impact on the style of your bedroom.  I personally am a huge fan of throw pillows that have great TEXTURE!  So when shopping for them, I am very intentional about selecting ones that have great texture, like this Woven Shag Pillow Cover from The Company Store.   Taking texture into consideration is important in any space, but it’s especially important if you love using neutrals like I do.

5 Steps to Redecorate Your Bedroom in an Afternoon. Modern farmhouse style bedding and throw pillows.


I also love decorating with pillows that have tassels, because they add both texture and personality to your room.  I fell in love with this Embroidered Geo Pillow Cover and it’s fun tassels on each corner!   I found that The Company Store had a lot of great options, including these Stonewashed Pillow Covers, and the quality of the fabric is incredible.


Step 2: Add a Throw Rug

5 Steps to Effortlessly Redecorate Your Bedroom in an Afternoon. By Cynthia Harper. Modern Farmhouse Style.

If you want to make a big impact with little effort, there is no better option that adding a new rug to your bedroom.  I’ve talked with many people who are hesitant to add a throw rug to their bedroom because it already has wall to wall carpet.  Personally, I love the layered rug look, and it’s a great way to add personality to an otherwise bland bedroom carpet situation.  For our bedroom makeover, I “shopped my home” and moved this rug from my daughters room.  Shopping your home is one of the best ways to change a space while staying on budget!


Step 3: Add New Bedding

5 Steps to Effortlessly Redecorate Your Bedroom in an Afternoon. By Cynthia Harper. Modern Farmhouse Style Bedding.

We’ve had the same sheets and comforter for several years and it was time to freshen things up!   I’ve recently become more intrigued with the use of organic materials and was thrilled to find sheets and a duvet cover made entirely of 100% organic cotton.  I’m obsessed with the light, bright, airy appearance and gorgeous texture of this white Pryor Organic Duvet Cover.   And combine that with the fact that  it’s made from organic material, it’s the perfect combination.  (I’ve also got to tell you that I’m thrilled with having a duvet cover because it will be so much easier to wash than the bulky comforter I had before.  Win/win.)

Modern Farmhouse Style Bedding and Sheets.


Now let’s talk about my husband’s favorite part of the new bedroom…the sheets!  He made a comment years ago that he loved the jersey sheets that he remembers from his college & bachelor years.  So I decided to surprise him with this Organic Cotton Jersey sheet set.  I was happy with the beautiful stone grey color and the organic cotton, and he loves the jersey feel of them and how soft they are.  Everybody wins.


Step 4: Layer on a Throw Blanket

Here’s a Pro Tip for You: Any time you make a bed, remember to have a throw blanket draped across the lower end of the bed.  This provides a visually appealing aesthetic, while also offering a lighter layer when you or your guests need it.  Using something in a neutral color with clean lines, like this Alpaca Stripe Throw blanket, allows for it to be a classic piece that you can use for years to come in a variety of rooms in the future too.  Because let’s be honest, we all know how we love to move things around.  So choosing pieces that are versatile enough to be used in various spaces is a good approach!  You can either pick it up and gather it in the center, then toss it across a corner of the bed like this:

5 Steps to Redecorate Your Bedroom in an Afternoon. Modern farmhouse style bedding and throw pillows.


Or fold it and have it placed neatly across the bottom of the bed, like this:

5 Steps to Effortlessly Redecorate Your Bedroom in an Afternoon. By Cynthia Harper. Modern Farmhouse Style.

Step 5: Add New Wall Art

Art is such a defining feature of a bedroom, and yet it’s so easy to change.  I believe art should evoke an emotional response, so find a piece that speaks to you.   A piece that makes you feel the way you are seeking to feel in that moment.  And add that to your bedroom.  It can be as simple as relocating a favorite piece of art from another room in your home, or you may want to purchase a new piece.   I prefer to hang my artwork using command strips because this prevents damage to the walls and gives me the flexibility to move that artwork easily in the future when I’m ready for a change again!


So there you have it.  5 easy tips to effortlessly refresh your bedroom in a single afternoon!   If you are looking to mix things up in your bedroom, head on over to The Company Store and see their great selection of products that will add texture, style, and functionality to your space!

5 Steps to Redecorate Your Bedroom in an Afternoon. Modern farmhouse style bedding and throw pillows.



Posted in Home Remodeling
April 9, 2018

Matt Leinart’s journey from finding open receivers to open houses

Matt Leinart Profile Pic

After leaving the NFL, Matt Leinart did what a lot of retired athletes do: He became a television sports analyst.

That's still his weekend job at Fox during football season, but now he's trying his hand at something a bit further afield. Last April, he passed his real estate exam on the first try and became a licensed agent.

"Every year, I make it my goal to learn something new, but I never end up sticking to it," said Leinart, 34, recalling failed attempts to learn the piano and perfect his golf swing. After his mother, Linda, died of leukemia in January last year, he vowed to break out of his comfort zone.

"Part of my healing process was accomplishing something that she'd be proud of," he said.

Leinart isn't the first athlete to dabble in real estate. Former MLB second baseman Adam Kennedy works as a real estate advisor in Newport Beach, and former NFL defensemen Monty Beisel and Morgan Trent are active agents in Beverly Hills.

The second career enables former athletes, comfortable with cutthroat deal-making and big monetary figures, to use their connections and flex their competitive spirit.

Leinart, the former USC star quarterback, is part of the four-person team of Schneider Properties in Manhattan Beach, where he has lived for nearly a decade.

"My ties to this city help," said Leinart, who has been longtime friends with Nick and Chelsea Schneider, the team's founders. "I'm active in this community. I coach my son's baseball team here."

That, combined with his celebrity status in L.A., has gotten his new venture off to a promising start. He's still chasing his first solo sale but has closed on a handful of homes alongside his team.

Leinart said he sees himself as someone who can use his experience as an athlete and a South Bay resident to better inform home buyers.

"Between the Rams, Chargers and the new soccer stadium coming in, I'd love to be an ambassador for athletes looking to buy a home, since I've been in the same shoes," Leinart said.

He added that the frenzied L.A. housing market provides plenty of opportunities. Now, instead of analyzing defenses and finding ways to score, he's analyzing homes and finding ways to sell.

"In both worlds, you get out what you put in," Leinart said. "In real estate, if you're hustling and maintaining a good work ethic, you'll get deals."

He admits that the learning curve is steep. He has spent days shadowing the team's other agents, figuring out the right lingo, questions to ask and people to know.

He equated the process to memorizing a playbook.

"To an outsider, understanding an NFL playbook is like trying to read Japanese. After spending so much time with it, though, I can read it like the back of my hand," Leinart said. "Learning the intricacies of the real estate industry is the same."

During open houses, Leinart pays careful attention to which questions are most common. That way, when a future buyer asks about the type of roof, or what tops the counters in the kitchen, he'll be prepared.

"I walk into the office like a sponge, absorbing knowledge and taking criticism," he said.

Unique challenges present themselves every day. The nuances of contracts and contingencies can be difficult to nail down. People show up to open houses more interested in grabbing a photo with him than exploring the home.

With the college football season concluded, he's had more time to get a grasp of things, scheduling time for meetings, open houses and private home showings.

"Every day is different in real estate, which is why I love it," Leinart said. "The job gives me flexibility, so I'm still trying to perfect the balance."

As of now, Leinart still loves his career at Fox and has no plans to abandon broadcasting. He's simply treating his foray into real estate as a chance to learn and grow.

Whether his future will find him one day selling homes full time, Leinart isn't sure. For the time being, he said, it's nice to not have a game plan.

To view the original article on LA Times, visit:

Posted in Real Estate News
March 15, 2018

The Evolution of the Hermosa Beach Pier


In 1904 the first version of the Hermosa pier was built. It was constructed entirely of wood even to the pilings and it extended five hundred feet out into the ocean. The pier was constructed by the Hermosa Beach Land and Water Company. In 1913 this old pier was partly washed away and later torn down and a new one built to replace it.

hermosa beach pier

The new pier was built of concrete one thousand feet long, and paved with asphalt its entire length. Small tiled pavilions were erected at intervals along the sides to afford shade for fishermen and picnic parties. A bait stand was built eventually out on the end. Soon after, about 1914, an auditorium building was constructed; it has housed various enterprises and at present the public rest rooms, the Los Angeles Life Guard Service, and the local branch of the Los Angeles County Library occupy rooms in the building.

Pier Avenue, originally known as Santa Fe Avenue, had long been the small beach city’s main commercial corridor, wending its way from Pacific Coast Highway to the Hermosa Beach pier. By 1996, new restaurants had begun to move into the area, including Brewski’s, Sangria, Club Sushi, Cafe Sabroso and Patrick Malloy’s Steakhouse. Longtime fixture Hennessey’s Tavern took over a neighboring building as part of a $1 million expansion.

hermosa beach pier historical pic

After some debate, the City Council decided to make Pier Plaza a pedestrians-only experience, closing it off from automobiles altogether and removing its 27 parking spaces. A grand opening ribbon-cutting ceremony for the new plaza was held on Saturday, Aug. 16, 1997.

hermosa beach pier present day

Today Pier Plaza is home to many restaurants and shops and is frequented by fun seekers, beachgoers, families, and tourist alike. It is just one of the special things that make our city so wonderful.


Hermosa Beach Historical Society

Daily Breeze…/hermosa-beachs-pier-plaza-a…/

Posted in Real Estate News
Dec. 20, 2017

How The New Tax Bill Will Impact US Real Estate Markets

Los Angeles Skyline

The real estate market will be among the sectors most impacted by the $1.5 trillion tax bill passed in the U.S. Wednesday

The legislation calls for a significantly lowered corporate tax rate and reduced tax rates for individuals with higher standard deductions but institutes caps on mortgage interest deductions and the deduction of state and local taxes. The individual cuts expire in 2025, but the corporate cuts are permanent.

The Senate passed the bill 51-48 early Wednesday, with Sen. John McCain of Arizona absent. Also Wednesday, the House voted 224-201 for the overhaul. President Donald Trump is expected to sign it into law in the coming days.

How it will shake out in reality is still unknown, but many real estate experts have been up in arms about the changes, with the National Association of Realtors (NAR) initially warning that it could lower home prices by up to 10% in every state.

Weakened confidence in luxury sector

An oversupply in luxury housing, plus a limited pool of buyers, has already slowed sales in that sector. And tax woes have only increased hesitation from buyers.

“People are going to be trying to figure out what it means for them,” said Donna Olshan, president of New York City-based Olshan Realty. “It’s certainly not a positive for New York.”

She said she recently had clients—who were looking for a home around $4 million—decide to curtail their search until they figure out what their new tax bill is going to look like.

For her clients, Ms. Olshan is very concerned about the new $10,000 cap on how much local and state tax can be deducted from federal income taxes. Under the current law, the amount is unlimited.

“Almost all my clients pay six figures in New York state and New York City taxes,” said Ms. Olshan, who has clients in both Manhattan and suburban Westchester, New York. “What does that mean for them?”

This cap will mean a big difference for homeowners in regions with high local taxes, including New York, California and Connecticut. Of the 12 House Republicans who voted against the tax bill, 11 were from one of these states.

Buyers may roll back their budgets as a result, Ms. Olshan said, and certain would-be buyers may choose to continue renting. They may be more likely to stall until they can figure out how the changes will affect them.

“It definitely makes people pause,” Ms. Olshan said. “The benefits of homeownership are being slashed.”

Other New Yorkers are also nervous about how the bill will affect the city. Last week, a Moody’s analysis predicted the lower deductions could cause home prices in Manhattan to drop by up to 9.5%. It could cost New Yorkers up to $30 billion per year in higher taxes, Partnership for New York City CEO Kathryn Wylde told the Wall Street Journal.

New York does have a high percentage of foreign buyers, who won’t be affected by the changes by the U.S. tax law. Some say these buyers could help keep the market stable.

“If they see some give in the price, this may help fuel the market and serve as a counterbalance,” Ms. Olshan said.

Many brokers already have strong connections with overseas buyers, and they may look to strengthen their ties. But it’s too soon to tell if international customers will come out ahead, brokers said.

California is in a similar boat, said Selma Hepp, chief economist at California-based Pacific Union International, adding that the “impact could be devastating” for many in the San Francisco Bay Area and Major Cities like Los Angeles

“Just how much impact it will have is hard to tell. But taking the deductions away will be pretty substantial. It adds up quickly,” she said. “If you own a $3 million property, you could be paying almost $90,000 in state and local taxes,” she said. “With the $10,000 cap, that’s an $80,000 difference in your deductions.”

Less incentive to move

Another big change for individuals is the lowering of the mortgage deduction, which the National Association of Realtors said is “a direct threat to homeowners and consumers. Not only would millions of homeowners not benefit from the proposal, many would get a tax increase,” according to a statement from the organization in early December. “Additionally, homeowners could lose substantial equity from the more than 10% drop in home values likely to result.”

The association was somewhat appeased when the final bill raised the final deduction amount to the interest on the first $750,000 borrowed. That was increased from the House bill, which had the cap at $500,000, but not as much as the current $1 million allowance.

Many upper-middle class homeowners probably breathed a sigh of relief with that change. Ms. Hepp said most income groups stand to lose, but Bay Area households making between $100,000 and $200,000 would be the most severely impacted.

It isn’t as much of a worry for high-worth households. Most true luxury homes—over $3 million b Ms. Hepp’s measure —have always been beyond the deduction. Plus, luxury buyers are more likely to pay in cash, she added.

Existing mortgages will be grandfathered in, with the lower deduction applying to new loans. That might give people less incentive to move. In addition, Ms. Hepp said, the change in the rules regulating capital gains could slow the market even further. Currently, households can exclude up to $500,000 in capital gains from the sale of a home if they’ve lived there two out of the last five years. The new bill requires people to have lived at the home for five of the last eight years.

“This is going to add a lock-in effect,” Ms. Hepp said. With homeowners staying put instead of trading up, there could be an inventory issue in some markets.

Posted in Real Estate News
Nov. 22, 2017

Festive Fall Recipes - Quick, Easy and Delicious

Not sure what to serve at your Thanksgiving party? Here are a few of our favorite signature dishes that won't break the bank or have you spending all day in the kitchen:


cranberry dessert

Cranberry Brie Bites

ingredients directions


deviled eggs deviled eggs recipe

For the full recipe, visit:

Posted in Miscellaneous