Well, it’s no secret that the South Bay has some of the highest property values in Los Angeles County. The entire Palos Verdes Peninsula, as well as Hermosa Beach, Redondo Beach, and Manhattan Beach are at the top of most realtors’ lists as highly desirable areas because of the gorgeous beaches, wonderful school system, and small-town community feel.
Ziprealty, an online real estate resource, now confirms that the South Bay has several of the fastest-growing property values in all of Southern California. Their new study on the most expensive zip codes shows that in 2014, while most homes in Los Angeles appreciated roughly 6%, Manhattan Beach property values rose 16% and Hermosa Beach property values rose 15%. That’s an incredible start! Now, if property values in the Beach Cities continue to rise through 2015, those numbers could be even higher.
What this all means is that by waiting to buy in these neighborhoods, you’re letting better prices slip through your fingers. South Bay property values are only going to go up from here, and eventually interest rates will rise up past 5% in 2015 too. Don’t sit on the fence too long or you just might price yourself out of the best deal of your property investment career.
