A Year in Review--The 2011 South Bay Real Estate Market
By Ed Kaminsky, Ed Kaminsky
(Kaminsky Real Estate Group/Shorewood Realtors)
A YEAR IN REVIEW--The 2011 South Bay Real Estate Market A closer look at what happened in Manhattan Beach Real Estate, Hermosa Beach Real Estate, Redondo Beach Real Estate and the South Bay market overall in 2011. What happened? Real estate trends are easy to explain when they have already happened; projecting them is an entirely different challenge. There is no question that the current trend of declining prices and distressed sellers has been at the top of discussions for almost five years already. 2011 has continued to see foreclosures coming to market, an increase in "short sale" sellers (sellers with no equity or negative equity, and a slight decline in overall real estate values. Here locally, in the South Bay, the most interesting trend in 2011 is a dramatic drop in inventory l...
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