Dave Fratello's (davefinmb) Blog

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Real Estate Broker/Owner - Edge Real Estate Agency - CA BRE #01880469
In my local market of Manhattan Beach, California, covid Year 1 (2020) was a record year in real estate. We ended the year with more than $2.5 billion in homes sold.But last year, 2021, was much, much busier. We sold an extra $1 billion in homes, ending the year at $3.554 billion in sales volume....
For the first time ever, the median price for homes in Manhattan Beach, California, has hit $3,000,000.It was not so long ago that the median price was in the lower $2M range. Indeed, the median price was largely stable for three years, between 2017-2019, varying slightly from $2.325M-$2.389M.Now...
The app economy is carving out a new niche: Helping homeowners rent out their homes for ultra-short terms, starting with just an hour at a time.Leading the charge is Cupertino-based HourHome, an app maker that helps connect customers seeking a (very) short stay in a nearby home with a house whose...
Consumers love automated home valuations.Surely that's why Redfin added its own "Redfin Estimate" tool to listing displays on its app and website.Given the way Redfin became a consumer darling by promoting data and transparency, along with nifty tech, you might think the Redfin Estimate would be ...
OK OK, this is only Day 1 and the ink isn't even dry yet on the congressional tax reform proposal.But!I've had clients and friends asking for days about it, and I'm getting new inquiries already.So I'll ask: What are YOU saying to clients about the potential impact on housing markets from this pr...
Oh, the slings and arrows Zillow invites upon itself!The "Instant Offers" controversy led my local board of realtors in Southern California (South Bay) to host a meeting last week to vent the issues.Judging from the tone in the room, agents smell a rat. People suspect they've seen Zillow showing ...
An agent in my office just had a weird experience.Five buyers offered on a property and all were expected to counter the seller's MCO. But only one did by the stated deadline.My agent friend knows because she presented personally before the 12:00 noon deadline, then sat with the listing agent til...
It's something new for all of us here in Manhattan Beach, California.A buyer has just closed a purchase of a home with more than $3 million worth of Bitcoin.I wrote up the whole story for this blog post on my MB Confidential blog. Check it out!I really felt for the agent. I mean, you know that yo...

Dave Fratello

Broker/blogger based in Manhattan Beach, CA
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