Tuesday, March 25, 2008

Ruxton Pacific development brings in the Big Guns

Some of you may recall my earlier posts about the new Ruxton Pacific development. According to this Shorewood press release, the developers have brought in a hired Big Gun realtor to get these units sold. According to Shorewood,

Recent shifts in the local market call for advanced marketing techniques in order to reach buyers and inspire them to make offers. Ed and his in-house marketing team literally reinvented the marketing approach at a newly-built project in South Redondo Beach last fall. That project, Paseo de la Playa, sold out in just 30 days.

According to this release, 3 units are now in escrow. I think some of this "advanced marketing technique" involved knocking the price down. These properties were originally marketed in the price range of $749,000 - $810,000. Now they start at "just" $679,000.

The realtor, Ed Kaminsky, is one of THE most successful realtors in the area. Even if my worst-case apocalyptic predictions about the area come true he'll survive. If a realtor is really good - if ANYBODY is really good at their job, they'll manage to eke out a living.

Another of these "advanced marketing techniques" is auctions. You definitely want to check here for upcoming Redondo Beach property auctions. Some of these properties have been on the market for ages.

I still believe there is a bounce coming. In the meantime, if you are curious about the units that are being marketed with advanced techniques that "reach buyers and inspire them to make offers", you can visit the website here.

5 Comments:

Blogger bearmaster said...

I checked that auction site and noticed 2 new construction properties in Redondo Beach:

511 Anita Street
513 Anita Street

Gee, there is a sale recorded for 511 Anita Street, 31-Aug-2007 at $1,575,000, original asking price was $1,725,000. Is that a legitimate sale? The ink on the sale documents are barely dry! Why is this being flipped?

513 Anita Street has never been sold. I show it originally listed 30-May-2007 for $1,699,000, and there are still no takers at $1,425,000.

4:59 PM, March 25, 2008  
Blogger bearmaster said...

I just ran a crime check using the Redondo Beach police link Crimeview, for Ruxton Lane and Rockefeller Lane, everything except "All other offenses", since they aren't specified, in a 1/2 mile radius for 90 days. The Ruxton Lane area shows about 60 crimes versus TRW tract showing about 33 crimes for the same parameters.

Do I think those Ruxton units are worth $679,000? Nope.

5:27 PM, March 25, 2008  
Blogger Chris said...

The Ruxton marketing worked to the extent of getting the word out. Somehow my friend heard about the website and I went and visited a couple weeks ago.

I could see buying it for maybe 500k (for the big unit priced over 700k). But there are too manyf eatures I don't like, that even if i had the money I wouldn't pay asking price.

When you went to visit did you notice the included wine cooler? Somehow they think including a winecooler in the kitchen will sell a 700k house.

Hilariously one of the model's basement's isn't done and left the water heater completley exposed.

1:22 PM, April 10, 2008  
Blogger SouthBay said...

could u be more specific about the features u didn't like - ie which model and what exactly was it ?

4:45 PM, July 15, 2008  
Blogger bearmaster said...

SouthBay,

I doubt Chris will check back here but I can tell you I actually liked the layout better than the Bayberry units at Village on Oak.

When I visited the Ruxton development last autumn I happened to catch it during a sudden rainstorm and saw some problems with the drainpipes. In this picture the red arrow on the right is pointing to a drainpipe that dumps water right over the front walkway. That was the only obvious defect I saw.

I thought the Ruxton units were nicer than Bayberry, but I don't like the higher crime rate by the Galleria relative to other parts of Redondo, and I consider the prices way too high, but then I feel that way about most homes in California, so Ruxton is not being singled out there.

Hope that helps.

5:28 PM, July 15, 2008  

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