Manhattan Beach is a small seaside community located 20 minutes southwest of downtown Los Angeles, right on the Pacific Ocean. It is one of several LA beach cities that dot the blue waters of the Santa Monica Bay, including Hermosa Beach, Redondo Beach and the Palos Verdes Peninsula, collectively known as the South Bay. Due to its proximity to the ocean, mild year-round climate and award-winning schools, Manhattan Beach real estate is some of the most valuable in the country, especially in today’s marketplace. In addition, being so close to Los Angeles — one of the biggest cities in the country and one of the most valuable real estate markets worldwide — makes its locale and beach lifestyle one of the most desirable in the U.S. If you own Manhattan Beach real estate and you’re looking to sell, the question isn’t whether you will profit, it’s how much profit will you make?
In order to get the best possible return on your investment, you need to prepare the property to be shown in its best light and sold quickly for top dollar.
1. Enhance curb appeal
This seems like a no-brainer, but something as simple as an overgrown lawn can make your home look unpresentable and sink its value as perceived by prospective buyers. Make sure your lawn is manicured, and consider planting some flowers or trees in the front yard. Check to see if your home has any chipped paint on the exterior, and if so, consider giving it a fresh coat. Fill in any cracked pavement on the driveway or the walkway up to the front door. These are all simple and inexpensive things, but if left uncorrected, they can make your house look shabby and possibly affect the amount you are offered.
2. Make any necessary repairs
Living so close to the ocean is obviously a huge selling point of Manhattan Beach real estate, but this comes with some necessary annual upkeep. The salty sea air can cause metal to rust faster and wood to decay sooner. Salt air corrosion can affect homes as much as 50 miles inland, but it is likely more prevalent in towns like Manhattan Beach that are right on the water. Check to see if there is any rusted metal or decaying wood on the exterior of the home and have it replaced. These issues can make your home look run-down and unsightly. Fixing them will quickly increase the value of your property.
3. Remodel the interior
A new interior can instantly add value to your Manhattan Beach real estate. If you’ve lived in the same house for a decade or more, it can be easy to become numb to the way the interior of your home looks. Interior design trends may have passed you by, and you need an upgrade if you want to sell your home for top dollar. It might be worth it to consult with an interior designer or a local stager and see if improvements can be made to the interior of your home. Alternatively, go check out some open houses and see how your home compares to others in the area that are for sale at a similar price point. They are your competition in a sense, so it might be worth it to see what’s out there.
Renovating a room like a kitchen or main bath will instantly increase the value of your real estate, but this can be expensive and time-consuming. The profit you make when you sell your home will more than likely offset these costs. A newly renovated home will be worth more than a home that hasn’t undergone renovations. Buyers might feel compelled to pay even more for the home because it is ready to be lived in right away. If the buyer doesn’t have to make renovations, a higher listing price will be justified.
4. Sell when Manhattan Beach real estate is in high demand
Beachside property will be valuable no matter when you sell, but if you’re looking to get the best possible return on your investment, you want to sell when there’s a seller’s market. A seller’s market is when there are more prospective buyers in a given area than there are properties for sale. Buyers have to compete with each other for a limited supply. They have to outbid each other, which drives prices up and ensures that people who are selling Manhattan Beach real estate make an even bigger profit. With current inventory at an all-time low, the equity in your home is growing in record amounts, and although slowly on the rise, low mortgage rates are encouraging buyers to make their move now.
To get a better idea of the local market, reach out to one of our experts at Jen Caskey Group. We can tell you how many homes are listed and how many people are looking to buy them. California beachside property is extremely valuable no matter what kind of market it is, and if you’ve owned your Manhattan Beach real estate for a long time, it has likely appreciated in value greatly. You can make a good return on your investment anytime, but if you want the absolute most for your home, now’s the time!
