subject: The View From Manhattan Beach Hotels: Real Estate [print this page] Whatever you say about Manhattan Beach, you have to say it's absolutely gorgeous. It's one of the most pristine beaches in Los Angeles County and it happens to be one of the more affordable ones. Mind you, this is Southern California, so affordable means when compared to the three million-plus it would take to buy real estate in Santa Monica or Malibu. That aside, if you're looking for an investment, you should look into what the "Empire Beach" has to offer.
Looking out the window of any of the Manhattan beach hotels you can see that the community is divided into two terrains: hillside an beach. The hillside properties are the more expensive, surprisingly. This is because people appreciate views more than direct beach access. Of course, beach access is not really a concern in Manhattan Beach, hence the less expensive beach prices. Again, remember, when I say more or less expensive, I mean relative to the insanely inflated California market.
With buyers hungry for single family homes, it's not surprising that beach-front properties have experienced a surge in interest. Even in the midst of this economic downturn (or recession, if you like), sale prices are holding their own. Yes, there have been price cuts of as much as fifty-thousand dollars, but when you consider homes in the Inland Empire are now worth half what they used to be worth, Manhattan Beach looks like its flourishing. And, in many ways it is. In fact, the median home value has doubled over the last ten years.
In addition to the beach, the promise of Manhattan Beach is the promise of the newly emerging scene. The "scene" as locals call is has become rather hip, offering a new alternative to the trendy districts on Venice and Santa Monica. The "scene" involves a number of popular restaurants, trendy lounges, and upscale shopping venues. While this adds a new cultural element to the Beach, it has also positively impacted property values. So much so, the peak median price for real estate has jumped by ten-percent.
While the South Bay still has its hooks in aspiring home owners, it seems Manhattan Beach is poised to draw new buyers up from Long Beach and Torrance. Considering the fact that home-building has only marginally slowed during this recession, the future of Manhattan Beach is looking brighter and brighter. The key, of course, will be the respective responses from neighboring communities. Hermosa Beach and Torrance are also experiencing a wave of gentrification -- as is Inglewood, of all places. If these communities can lure would-be buyers and business owners, Manhattan Beach could be in for quite a ride.
