BHAUS EIGHT February 2022 Newsletter

Hello community,

We are so excited to share our first BHAUS EIGHT newsletter of 2022. As this new chapter in our business opens, we want to renew our commitment to you, to always work hard, smart, and diligently to bring you the best results in your real estate endeavors.

We also would like to welcome the new member of the BHAUS team, Noushin Saadzoi, who recently joined the agency as a Realtor Associate.

SouthBay Real Estate.

January 2022 saw yet another price increase of 8% across all property types in the Southbay versus January 2021. Days on Market dropped again by 13% to 28 DOM, while supply continued to remain low - the 342 listings this past month represented a 20% drop from last year. January prices did drop slightly versus the last 3 months, but we are expecting activity and prices to pick up again in February versus a rolling 3-month period, as sellers get ready for Spring selling season.

Across the U.S., the RE market ended 2021 with an +8.5% increase in home sales versus the prior year. Looking ahead, despite increases in mortgage rates, home prices are expected to moderately grow due to the continued low supply, strong demand, and gains in the labor market.

Home Stats by City.

Below are the snapshots of home prices, avg $/SF, DOM, and # new listings by city, inclusive of all types of properties (ie: Single Family Residences, condos, townhomes) compared to January of last year.

Economy & Mortgage News.

Interest rates for a 30-yr fixed mortgage held steady at 3.55% last week, after 5 consecutive weekly increases of more than 50 basis points. However, given policy announcements by the Fed and inflationary pressures, rates are expected to continued climbing in 2022. Lawrence Yun, NAR’s chief economist, expects rates to remain below 4% by year-end, while he forecasts a 3%-5% increase in home prices across the U.S.

Investor Corner.

For our investor community, there are a few new listings that are value-add properties that can represent great opportunities.

For complete listing details, please contact us directly.

1. 522 Rosecrans Ave, Manhattan Beach

   • Asking price: $1.57MM

   • Duplex - great to hold as income property

   • MB Sand Section

   • Listed by 3 Leaf Realty Inc

2. 3924 Via Nivel, Palos Verdes Estates

   • Asking price: $1.799MM

   • SFR, needs updating/2,258 SF/4Bed/2Bath

   • Valmonte area of PVE

   • Listed by Remax Estate Properties

3. 585 Via del Monte, PVE

   • Asking price: $2.99MM

   • SFR w/ocean views/12K SF lot/2K SF/3Bed/2Bath

   • In original estate, needs all upgrades

   • Listed by Compass

4. 2551 E Washington St, Carson

   • Asking price: 365K

   • SFR/1Bed/1Bath - perfect for investor flip

   • Listed by Castle Peak Realty

5. 21933 S Salmon Ave, Carson

   • Asking price: 499K

   • SFR/2Bed/2Bath - perfect for investor flip

   • Listed by Coldwell Banker Realty

6. 21327 Caroldale Ave, Carson

   • Asking price: 549K

   • SFR/3Bed/1Bath - perfect for investor flip

From BHAUS to yours.