Pneumonia Hill, so they said, most affordable panoramic ocean view property in So Cal
Sunset over Paseo Del Mar by Renee Ferjo
Where’s the Opportunity?
Paseo Del Mar in beautiful south San Pedro never disappoints me when I need some bigger than life inspiration. I snapped this sunset just 3 days ago.
When prospective buyers ask “Why buy in San Pedro?” I give them a tour of the sites, sounds and inspiration of Paseo Del Mar. Then I point to the most reasonable cliffside property in all of Southern California; the 3 adjacent communities of South Shores (to the west), Palisades (center) and Pt. Fermin (south). Today’s highlight: South Shores.
I was born in 1966 and have been raised in this San Pedro. My folks are still in their original house and they retell their house hunting. At that time in the early 60s South Shores was well under development with the track homes and unique mix you see today. But, very few Pedrans wanted to live there! Why, “too damn windy.” I’m quoting my dad. Pneumonia Hill is what they call it. So what if you had a view, the threat poised by every Yugoslav or Italian aunt was to lie on your back, plugged nose to toe staring at the view of the ceiling. “Get out of the wind, you’ll catch a cold!”
Flash forward to 2009. Ocean views!! ocean views! let’s live and die by ocean views. How we do change. Now, please click on thumbnail below for a readable size.
South Shores Homes For Sale vs Sold Dec 07 to Dec 08
Here's my main number 216. $216,000! is the drop in the average price of the houses that sold in Dec. 08 vs. 1 year prior. Oh that's dramatic reading but I must qualify that statement.But remember, South Shores has ocean view and non ocean view property. 2 markets actually re: pricing. So, there are still million dollar homes for sale in South Shores. $1,032,000 was the average in Dec. 08 vs. $1,126,000 in Dec. 07 of houses on the market FOR SALE. Sellers saying come see the amazing ocean view! Cuz those are ocean view homes. Remember. And no disclaimers about colds. But get this, in DEc. of '07 a dazzling ocean view home, 3 bed, 2 bath, 1,952 square feet sold for $775,200. The 2nd home that sold in that month 4 bed/ 3 bath 3,285 square feet sold for $1,040,000 with mountain and harbor views. $775K then for ocean view.
And now for Dec. 08.
The meat of the markt moves in the mid 600s. The average sold house in Dec. 08 sold For $691,000 vs. ahem, $907,000 1 year prior same month. Again Ocean View, sizable square footage, quiet neighborhoods and access to coastline trails if you're into that or you can brag about that for your tree huggin friends.
To be specific, here's the figures on 6 South Shores homes which sold in Dec. 08.
3 bed/2 bath 1,580' $599,000 sold no ocean view
same 1,319' $602,000 sold same
same 1,560' $620,000 sold same
3 bed/2bath 1,920' $665,000 sold panoramic ocean view, please update-me house
2 bed/2 bath 1,970' $825,000 sold panoramic ocean view
4 bed/3 bath 2,120' $835,000 sold ocean view, cul de sac and pool! wow.
If a buyer can swing the high 6's or 7's and wants a great neighborhood with that ocean view
South Shores is that nieghborhood.
Homes Available as of Jan.24, 2009
Bed/Bath Square Footage Price Notes
3/2 1,476' $625,000 Short Sale fun
3/2 2,088' $639,000 harbor, city, mountain views
3/2 1,553' $725,000 ready for a price reduction
3/2 1,707' $799,900 new and panoramic view
4/2 2,041' $892,500 ocean view
6/5 4,014'! $1,289,000 huge! beautiful
3/2 1,960' $1,999,000 exquisite view. amazing
If you want to buy a new home or invest and in South San Pedro. Do call me up 310.200.4614.
Would love to discuss it. And here's a bonus rant for you.
My Rant
Patience was most needed for sellers not willing to come out of the gate with a price that would draw qualified buyers in for multiple offers. Yes, that still happens. In Dec. of 07 the 2 houses that sold went into escrow in 22 days. It took the 6 sellers that sold in Dec. of 08 an average of 148 Days on Market to get them into escrow.
Like bees to honey is a right selling price. I don't mince words about this with my sellers. Flush your equity down the drain in a down market by stumbling at pricing at that elusive market value. We just dropped $216,000 average between Dec. 07 and Dec. 08. If you really must sell today, how can you blunder with a stupid price? If your agent coddles you and doesn't get to the truth, you will chase that price down, down, down. I'm passionate on this one. I query to expose. Why does an agent sign up a Seller to sell his house at a lame price? because they don't mind you picking up your underwear daily to have the house show worthy, they know they'll get leads for buyers and it's a marketing expense for them. Okay that rant ended for now.
Where 's the opportunity? South San Pedro and with an agent who lives for getting to the truth! life is just easier that way.
Renee Ferjo
Realtor and Animal Advocate
because everyone needs a home
Keller Williams Palos Verdes Realty - the office
San Pedro - the home
Southern California - the satellite office accessed
cell: 310.200.4614
email: ReneeFerjo@PropportunitiesNOW.com
Today is the Day!
