Happy New Year! As we begin 2019, I am starting to make my annual predictions blog for the year. Until, then, I wanted to explore a few topics relevant to the New Year.
Real Estate in January
In my opinion, January is always a funky month in residential real estate as buyers and sellers are returning from the holidays and vacations. I believe there are great opportunities for both sides during this time, you just have to play your cards right.
Buyers
For buyers, January is a great month to score a deal. Here are a few reasons…
- Most buyers are focused on New Year’s resolutions and returning from vacation. Competition is still very low until the beginning of February.
- Sellers on the market during Thanksgiving through New Year’s Eve have likely gotten little to no interest during a traditionally slow time. Most people break down mentally and will consider any reasonable offer, or even lower than reasonable.
- Focus on the listings that have accumulated the longest days on market. If Sellers expected their home to close in 2018, that 2019 date motivates many to make a deal.
With those factors in mind, I would be out searching for property this weekend and making offers!
Sellers
As a seller, January is still a fairly slow month, but the buyers that are out looking are very serious.
- Buyers are sometimes over-eager to make a deal when nothing came to market over the holidays. Their agent said more inventory will come in the New Year. Oftentimes, I will see great deals for Sellers when they aggressively price their home in January and induce a bidding war from hungry buyers.
- Or, if you have a special property that is rare, start at a high list price and see if you get a bite as the newest inventory out on the market. Just remember, you still will likely not sell, so be patient and know your deal will come in the Spring or Summer if you cut your price properly in February or March. That said, it is worth a shot to try and snag a high price!
New Year Media
My new year’s resolution? To start my own real estate podcast. We will start out monthly, and if all goes well, pick up the frequency! So please, send me any topics you would like to hear, interview suggestions, etc. I want to know what you want to hear.
Restaurants for 2019
Is your New Year’s resolution to try new things? Well, make sure you add some of these local South Bay restaurants to your list. Some of these are well known, but surprisingly, some are missed by South Bay locals…especially if it is not in their city!
You would be shocked by how many Palos Verdes residents only know the top end restaurants along Manhattan Beach Boulevard and vice versa, where Manhattan Beach residents don’t know what exists south of Herondo with the exception of Terrenea.
Hermosa Beach
I am starting off with Hermosa Beach because it currently is home to the best restaurant in the South Bay – Baran’s 2239. Self-described as “Casual American Fine Dining,” Baran’s is located on busy Pacific Coast Highway in a non-descript strip-mall. This is my favorite restaurant in the South Bay by a long shot and it is not even close. They have an awesome rotation of beer, a fabulous wine list, and the food is simply amazing. I am not a food blogger so I cannot do the place justice in words, but all I can say is, go! They’ll have a dish for whatever you are feeling, and it will be one of the best meals you have all year, unless of course, you go multiple times, which I highly advise since the menu is seasonal and ever-changing.
Palos Verdes
The Malaga Cove Ranch Market is a treasure in Palos Verdes Estates. It is a small family-owned grocery store, deli, wine bar, among other things… They do it all! I am writing about the Ranch Market today because of their epic double cheeseburger. It is no joke the closest thing you will get to an In-n-Out Double-Double and that is a life saver if you are in P.V. and don’t want to make the long drive to the nearest In-n-Out Burger.
The Yellow Vase has officially expanded to Hermosa and Manhattan Beach, but this awesome spot used to be exclusive to two locations in Palos Verdes and one in Riviera Village. That said, the true Yellow Vase experience to me is parking in the Golden Cove parking lot, walking through the Oceanfront Development, and along the stunning P.V. Bluffs in Rancho Palos Verdes. After your walk, settle down at the Yellow Vase for a cup of coffee and a tasty breakfast or lunch.
And lastly, special mentions to Lamppost Pizza just off the Hill on Rolling Hills Road between Hawthorne and Crenshaw, which serves some of the best pizza in the South Bay. I don’t want to get into a pizza debate, but it is this spot or Pisano’s in Hermosa Beach for me. It is all personal though!
Redondo Beach
Hudson House is a bar serving great small bites in an unassuming location on PCH. Known to locals for a great beer selection and cocktails, you can also get really great food in a cool atmosphere. The Taco Tuesday is wildly popular, so get there early since they do not take reservations.
Honorable mention just outside the Redondo Beach border on 190th in Torrance is HopSaint Brewing Company. Don’t let the name fool you as HopSaint is part Louisiana, part BBQ. They have daily specials that will knock your socks off, so don’t be surprised if there is a line during busy dining hours. Personally, I am a huge fan of the Southern Fried Catfish with their home made hot sauce.
Manhattan Beach
Sushi Inaba is a sushi joint that I tried visiting the last week but was closed due to the holidays. This is supposed to be THE new sushi joint in the South Bay, flying fish directly from the fish markets in Tokyo and Hokkaido. No joke, the restaurant only has six seats, just like the legit sushi shops in Japan. I will be testing out the Omakase menu for lunch next week and will let you know! Cheers.
Richard Haynes
DRE: 01779425
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The Richard Haynes Real Estate ShowA leader in South Bay real estate for the better part of a decade, Richard thrives as an advisor to his clients with over $248 million in sales as a broker or investment principal at his boutique agency, Haynes. Richard is known for his keen local market insights which have been featured in the L.A. Times, The Street, and Forbes, along with his weekly South Bay real estate blog. [read more]