DIGS is the premiere luxury real estate lifestyle magazine serving the most affluent neighborhoods in the South Bay and Westside of Los Angeles, California.
Issue link: https://www.southbaydiggs.com/i/50080
THE MANHATTAN BEACH SAND SECTION unique niche Real Estate markets in the country. From the ocean-front Strand properties to the postage stamp sized multimillion dollar lots, to bungalows and mini estates, the density of this area is reflective of its popularity amongst locals. A full lot is usually 2700 square T he Sand Section, located just south of Los Angeles on one of the best beaches in the United States, is one of the most feet but there are plenty of half lots at 1350sqft as well. This is not your daddy's back 40, considering that the lots are only 30 feet wide! Every style of architecture has been built, designed, re-built, or re-invented. Homes can be as close as 72 inches from each other and buyers will pay millions of dollars to live in them. Privacy is not likely on your priority list when you live here, but the lifestyle — fresh air, ocean vistas, surfing, and walking to Sunday breakfast — most likely is. The Sand Section also appears to be one of the fastest growing second home markets with owners found right here in Manhattan Beach, but also from the Westside of LA, Arizona and beyond. No matter what your pleasure is, as long as your budget is over a million dollars (with a few exceptions) and you like neighbors, the Sand Section is one of the greatest living experiences in the world. It is truly like being on vacation 365 days a year. It's a place where you can't tell the difference between a dot com billionaire, a first class athlete or a lucky, early retiree. The dress code is simple: flip flops, t-shirts, a tan and a smile. Neighbors throw a friendly wave at each other as they share a glance at the local coffee stop. This is world-class living at its finest: the Sand Section of Manhattan Beach, California. PRICING THE SAND SECTION When valuing real estate in the Sand Section of Manhattan Beach there is no question it is one of the most unique markets in the country. There are so many variables when it comes to accurately pricing or valuing a property it could drive a high level rocket scientist into a tizzy. To better understand the list of variables, I have generated a list of questions that must be answered before pin pointing a true value. Even if you think you can figure it out, there is nothing more accurate than the market itself. The market place is the final determining factor of value. The real value of a property is what it closes escrow at. That is assuming it was properly exposed to the marketplace and not just simply sold to a relative or similar type event. Although prices have seen some decline from the peak of the market, they are a far cry from the sheer devastation in prices that have hit most of the country's popular living places; like other parts of California, Arizona, Nevada and Florida. It would have been difficult to protect one's home from any decrease in Real Estate equity in recent years, but the Sand Section has prevailed in equity protection, even in the downturn. What makes it so difficult to determine an accurate value? That old Real Estate adage... Location, Location, Location! Does the home have a view? Can that view be obstructed? Who was the Architect? Who was the builder? Is it located East or West of Highland? Can you walk to Downtown easily? Can you hear traffic noise? Who is your neighbor? Will they likely build soon? Does the property face North or South? The evaluation of pricing is truly only capable by the local experts. You can move 50 feet to your left or right, and see a price increase (or decrease) of over $1,000,000 for what appears to be an identical property. The list of questions that determine accurate Sand Section values can seem endless, but a professional who is well versed in the many nuances of the Sand Section market can help maximize your profit when selling or determine if you've found that diamond-in-the-rough, if buying. For a list of 57 questions that help determine how to value your Sand Section property visit SandSectionEd.com 4 SPECIAL ADVERTISING SECTION