COMP OMPARA ARATIVE TIVE MARKET ANAL ANALY YSIS
8601 Falmouth Avenue, Playa Del Rey, California 90293
PREPARED FOR
Viki and Jacob AUGUST 25, 2019
Manuela Schuster
WHA WHAT T IS A CMA? No two homes are identical, which is why choosing a sales price or offer price for a home can be challenging. That’s where the comparable market analysis, or CMA, can be useful.
What is a CMA? The CMA is a side-by-side comparison of homes for sale and homes that have recently sold in the same neighborhood and price range. This information is further sorted by data fields such as single-family or condo, number of bedrooms, number of baths, postal codes, and many other factors. Its purpose is to show fair market value, based on what other buyers and sellers have determined through past sales, pending sales and homes recently put on the market.
How is the CMA created? CMAs are generated by a computer program supplied by your real estate agent’s multiple listing service (MLS). The MLS is available to licensed members only, including brokers, salespeople, and appraisers, who pay dues to gain access to the service’s public and proprietary data, including tax roll information, sold transactions, and listings input by all cooperating MLS members. Listing agents generate CMAs for their sellers, and buyer’s agents create them for their buyers so both sides know what current market conditions are for the homes they’re interested in comparing.
How accurate are CMAs? The CMA is a here-and-now snapshot of the market, based on the most recent data available, but it can instantly be rendered obsolete by a new listing, or a change of status in a home with the same criteria. Why? The market is constantly changing – new listings, pending sales, closed sales, price reductions, and expired listings. CMAs can vary widely, depending on the knowledge and skill of the person inputting the search parameters to the software as well as the number and type of data fields that are chosen. That means some features may not be included. As informative as the CMA is, it should only be used as a tool and should not substitute for your real estate professional’s knowledge and advice.
Manuela Schuster
INT
THE V VAL ALUE UE OF Y YOUR OUR HOME In a neighborhood of similar homes, why is one worth more than another? That’s the question that’s teased buyers and sellers for ages, but the answer is simple.
Every home is different. When a home is sold, a willing seller and a willing buyer have just announced to the world the value of that home. From there, other similar homes are benchmarked, but other factors come into play. The most important are: Location - The closer a home is to jobs, parks, transportation, schools, and community services, the more desirable it is. Size - Square footage impacts home values because they’re built using more materials. Larger lot sizes mean more privacy. Number of bedrooms and baths - Over time, median homes have grown larger. Decades ago, household members shared bedrooms and baths without complaint, but today, families want more privacy. The median home purchased today is a threebedroom, two-bath home. Features and finishes - Features such as outdoor kitchens and spa baths make a home more luxurious. A home finished with hardwood floors and granite countertops is going to cost more than a home with carpet and laminate countertops. Condition - The closer a home is to new construction, the more it will retain its value. It’s perceived as more modern, up to date, and perhaps safer. Homes that are not updated or in poor repair sell for less. It’s a good idea for homeowners to keep their homes updated and in top repair. Curb appeal - From the street, the home looks clean, fresh, and inviting. Fresh landscaping and flowers won’t change the size or location, but they certainly add charm.
When two homes are identical in the same neighborhood, a higher price may come down to something as simple as views, or paint colors, or the overall taste of the homeowner. Valuing a home will never be an exact science, but if you buy wisely, keep your home updated and in good repair, you should recoup most if not all of your investment.
Manuela Schuster
INF
MAP OF ALL LISTINGS
MLS #
Status
Address
Price
0
Subject
8601 Falmouth Avenue, Playa Del Rey, California 90293
1
19-466412
S
8515 Falmouth Ave 406
$765,000
2
SR19112888CN
S
8135 Redlands St 108
$760,000
3
19-474456
S
8600 Tuscany Ave 207
$745,000
4
19-461174
S
8601 Falmouth Ave 217
$760,000
5
PV19193864MR
A
8600 Tuscany Ave 214
$765,000
6
19-490968
A
8601 Falmouth Ave 206
$780,000
7
19-498712
A
8145 Redlands St 105
$719,000
Status: S = Sold, A = Active
Manuela Schuster
INT
SUMMAR SUMMARY Y OF C COMP OMPARABLE ARABLE PR PROPER OPERTIES TIES Sold Listings Address
Beds
Baths
YrBlt
SqFt
Lot Size
Price
Sold Date
8515 Falmouth Ave 406
2
2.00
1984
1,367
62,904
$765,000
6/14/19
8135 Redlands St 108
2
3.00
1975
1,246
58,712
$760,000
8/1/19
8600 Tuscany Ave 207
2
2.00
1981
1,143
69,265
$745,000
8/14/19
8601 Falmouth Ave 217
2
2.00
1983
1,140
68,446
$760,000
6/5/19
1,224
64,831
$757,500
Averages
Active Listings Address
Beds
Baths
YrBlt
SqFt
Lot Size
Price
8600 Tuscany Ave 214
2
2.00
1981
1,143
69,265
$765,000
8601 Falmouth Ave 206
2
2.00
1983
1,367
68,446
$780,000
8145 Redlands St 105
2
2.00
1975
1,152
58,725
$719,000
1,220
65,478
$754,667
Averages
Manuela Schuster
Sold Date
INT
PR PROPER OPERTY TY DET DETAILS AILS S
8515 Falmouth Ave 406, Playa Del Rey
ML #19
$765,000
Listing information
Courtesy of RE/MAX ESTATE PROPERTIES
MLS#: 19-466412
Beds: 2
SqFt: 1,367
Sold Date: 6/14/19
Status: Sold
Baths: 2.00
YrBlt: 1984
DOM: 15
Features Lot Size Size: 62904 Association Amenities Amenities: Assoc Maintains Landscape, Assoc Pet Rules, Clubhouse, Elevator, Exercise Room, Extra Storage, Gated Parking, Guest Parking, Hot Water, Pool, Sauna, Tennis Courts Pets Allowed Allowed: Yes Covered Spaces Spaces: 2 Entry Level Level: 4 Common Walls Walls: Attached Heating Heating: Central Cooling Cooling: Air Conditioning, Central Laundry Features Features: In Unit Other Equipment Equipment: Dishwasher, Dryer, Garbage Disposal, Range/Oven, Refrigerator, Washer Fireplace Features Features: Living Room Flooring Flooring: Mixed Furnished Furnished: Unfurnished Number Of Units Total Total: 288 Association Fee Frequency Frequency: Monthly Remarks Top floor corner unit in Villas del Rey; Desirable two plus den floorplan with high ceilings, sky lights and bright north and west exposure. Hardwood floors in living room, dining area; Well-maintained property ready for updating.
Photo not available
Manuela Schuster
PR PROPER OPERTY TY DET DETAILS AILS S
8135 Redlands St 108, Playa Del Rey
ML #SR
$760,000
Listing information
Courtesy of Rodeo Realty
MLS#: SR19112888CN
Beds: 2
SqFt: 1,246
Sold Date: 8/1/19
Status: Sold
Baths: 3.00
YrBlt: 1975
DOM: 10
Features Lot Size Size: 58712 Association Amenities Amenities: Controlled Access, Picnic Area, Pool, Spa Association Fee Includes Includes: Water Association Phone Phone: unknown Bedroom Features Features: All Bedrooms Up Common Walls Walls: Attached Heating Heating: Central Appliances Appliances: Built-Ins, Gas, Microwave, Range, Range Hood, Oven-Gas Cooling Cooling: Central Laundry Features Features: Inside Accessibility Features Features: Parking Other Equipment Equipment: Built-Ins, Dishwasher, Hood Fan, Microwave, Range/Oven Fencing Fencing: Wrought Iron Fireplace Features Features: Living Room Flooring Flooring: Carpet, Stone Tile Number Of Units Total Total: 53 Association Fee Frequency Frequency: Monthly Remarks Easy Coastal Living in this 2 bed 2.5 bath French-Chateau Inspired Building La Mer Townhome just blocks to Silicon Beach with endless bike paths & the Beach! Open Living Room With Fireplace, Wet Bar, New Carpets & Built-In Library Overlooking Private Front Patio to Enjoy Summer BBQs. True Outdoor/Indoor Living with Completely Remodeled Kitchen w/Granite Counters, Stainless Steel Appliances, Modern Cabinets & Dining Room That Opens to Sunny Outdoor Room (Huge 2nd Patio) to Have Private Breakfast/Lunch/Dinner! Generous Master Suite with Multiple Closets & Large Balcony, Huge Master Bath w/ double sinks & oversized shower. Generous Sized 2nd Bright Bedroom. Laundry is in the unit! Gated Parking, 2 Tandem Spaces #114. Steps Away From HOA Pool/Spa w/Great Sitting/Picnic Area and Solid HOA will be Remodeling the Pool Area and Exterior Shortly!. Complex Amenities Pool, Spa/Hot Tub, Picn...
Manuela Schuster
LISTING PHO PHOT TOS S
8135 Redlands St 108, Playa Del Rey
Manuela Schuster
ML #SR
$760,000
PR PROPER OPERTY TY DET DETAILS AILS S
8600 Tuscany Ave 207, Playa Del Rey
ML #19
$745,000
Listing information
Courtesy of Compass
MLS#: 19-474456
Beds: 2
SqFt: 1,143
Sold Date: 8/14/19
Status: Sold
Baths: 2.00
YrBlt: 1981
DOM: 69
Features Lot Size Size: 69265 Association Amenities Amenities: Assoc Maintains Landscape, Assoc Pet Rules, Clubhouse, Conference, Controlled Access, Exercise Room, Fitness Center, Gated Community, Gated Parking, Guest Parking, Pool, Sauna, Spa, Tennis Courts Association Fee Includes Includes: Trash, Water Pets Allowed Allowed: Yes Covered Spaces Spaces: 2 Entry Level Level: 1 Common Walls Walls: Attached Heating Heating: Central Cooling Cooling: Central Laundry Features Features: In Unit Other Equipment Equipment: Dishwasher, Gas Or Electric Dryer Hookup, Microwave, Refrigerator Fireplace Features Features: Living Room Fireplace YN YN: true Fireplaces Total Total: 1 Remarks Located in Playa Del Rey this bright and spacious 2 bedroom, 1 3/4 bath has a kitchen with granite countertops and stainless steel appliances. Also included are Beachwood floors in the master suite, a fireplace in the living room and a large and inviting private patio. Extra storage is available along with an indoor stackable washer and dryer hookup. Community features include a pool, spa, two saunas, gym, clubhouse, two tennis courts & guest parking. Don't miss out on this gem!
Manuela Schuster
LISTING PHO PHOT TOS S
8600 Tuscany Ave 207, Playa Del Rey
Manuela Schuster
ML #19
$745,000
PR PROPER OPERTY TY DET DETAILS AILS S
8601 Falmouth Ave 217, Playa Del Rey
ML #19
$760,000
Listing information
Courtesy of JWJ Realty
MLS#: 19-461174
Beds: 2
SqFt: 1,140
Sold Date: 6/5/19
Status: Sold
Baths: 2.00
YrBlt: 1983
DOM: 35
Features Lot Size Size: 68446 Association Amenities Amenities: Clubhouse, Exercise Room, Extra Storage, Fitness Center, Gated Parking, Meeting Room, Onsite Property Management, Pool, Sauna, Tennis Courts Pets Allowed Allowed: Yes Covered Spaces Spaces: 2 Entry Level Level: 2 Common Walls Walls: Attached Heating Heating: Central Cooling Cooling: Central Laundry Features Features: In Closet Other Equipment Equipment: Cable, Dishwasher, Microwave, Range/Oven, Refrigerator Fireplace Features Features: Gas Flooring Flooring: Carpet Furnished Furnished: Unfurnished Number Of Units Total Total: 200 Association Fee Frequency Frequency: Monthly Association YN YN: true Lot Size Source Source: Vendor Enhanced Remarks Prime LOCATION for this Spectacular 2 Bedroom 2 Bath condo in Beautiful Playa Del Rey. Additional Huge +/-600 Private Patio overlooking Tennis Courts and the pool area. Enjoy ocean breezes with 3 separate patio doors (one for each bedroom). Low HOA dues in a fantastic building. Could use a bit of updating, but it will be worth it after just a little bit of paint and new carpeting/flooring. Property is in a trust. No Probate. All amenity complex w pool, 2 spas, tennis courts, exercise room and clubhouse; 2 pkg spaces, add'l storage room.
Manuela Schuster
LISTING PHO PHOT TOS S
8601 Falmouth Ave 217, Playa Del Rey
Manuela Schuster
ML #19
$760,000
PR PROPER OPERTY TY DET DETAILS AILS A
8600 Tuscany Ave 214, Playa Del Rey
ML #PV
$765,000
Listing information
Courtesy of RE/MAX Estate Properties
MLS#: PV19193864MR
Beds: 2
SqFt: 1,143
List Date: 8/13/19
Status: Active
Baths: 2.00
YrBlt: 1981
DOM: 12
Features Lot Size Size: 69265 Association Amenities Amenities: Clubhouse, Controlled Access, Exercise Room, Extra Storage, Meeting Room, Onsite Property Management, pool, Sauna, Security, Spa, Sport Court, Tennis Courts Pets Allowed Allowed: Call For Rules, Yes Association Phone Phone: 310 889-0701 Bedroom Features Features: Master Suite Common Walls Walls: Attached Community Features Features: Street Lights, Suburban Heating Heating: Forced Air Appliances Appliances: Convection Oven, Range Cooling Cooling: Central Laundry Features Features: Inside Other Equipment Equipment: Dishwasher, Inside Fireplace Features Features: Living Room Number Of Units Total Total: 72 Guest House House: None Remarks Turn key and call it HOME! Nicely upgraded through out this beautiful and well maintained property offers great open floor plan with living and dining rooms, rich wood flooring and custom fireplace that opens up to a HUGE private patio with serene water fountain, surrounded by mature trees that provide for privacy and seclusion. Great kitchen with granite counter tops, lovely cabinetry and full set of appliances. Large master suite with very nicely updated bathroom, walk-in closet and plenty of storage space. Villas Del Ray is very popular and sought after gated community featuring large sparkling pool, couple of spas, two saunas, fully equipped gym, clubhouse, two tennis courts, plenty of guest parking and on site management. This unit also comes with two car parking spaces and has separate large storage room. Superior location close to everything! Minutes to the beach, shopping, fin...
Manuela Schuster
LISTING PHO PHOT TOS A
8600 Tuscany Ave 214, Playa Del Rey
Manuela Schuster
ML #PV
$765,000
PR PROPER OPERTY TY DET DETAILS AILS A
8601 Falmouth Ave 206, Playa Del Rey
ML #19
$780,000
Listing information
Courtesy of Castle Realty Group Inc
MLS#: 19-490968
Beds: 2
SqFt: 1,367
List Date: 7/18/19
Status: Active
Baths: 2.00
YrBlt: 1983
DOM: 38
Features Lot Size Size: 68446 Association Amenities Amenities: Pool Pets Allowed Allowed: Yes Covered Spaces Spaces: 2 Entry Level Level: 3 Common Walls Walls: Attached Heating Heating: Electric Cooling Cooling: Air Conditioning Laundry Features Features: In Unit Other Equipment Equipment: Dishwasher Fireplace Features Features: Gas, Gas and Wood Flooring Flooring: Wood Furnished Furnished: Unfurnished Number Of Units Total Total: 60 Association Fee Frequency Frequency: Monthly Association YN YN: true Lot Size Source Source: Vendor Enhanced Security Features Features: Owned Living Area Source Source: Vendor Enhanced Zoning Description Description: LAR3 Parking Features Features: Community Garage Pool Features Features: In Ground Room Type Type: Den Remarks Lovely end unit in coveted condo project in Playa del Rey. unit has a wrap around balcony. balcony accessible from living room and bedroom. unit has a den. main bedroom has a bathroom in it and a walk in closet. 2nd bedroom has 2nd bathroom in it. washer and dryer hook up in unit. fireplace in unit. flooring is wood and carpet. street level gated 2 tandem parking spaces. unit has garage storage space. community swimming pool, tennis courts and gym. unit located on 2nd floor with elevator and stair accessibility. property is well maintained. No lock box. showing by 24 hour appointment only.
Manuela Schuster
LISTING PHO PHOT TOS A
8601 Falmouth Ave 206, Playa Del Rey
Manuela Schuster
ML #19
$780,000
PR PROPER OPERTY TY DET DETAILS AILS A
8145 Redlands St 105, Playa Del Rey
ML #19
$719,000
Listing information
Courtesy of eXp Realty of California Inc
MLS#: 19-498712
Beds: 2
SqFt: 1,152
List Date: 8/6/19
Status: Active
Baths: 2.00
YrBlt: 1975
DOM: 12
Features Lot Size Size: 58725 Association Amenities Amenities: Assoc Barbecue, Assoc Maintains Landscape, Assoc Pet Rules, Controlled Access, Elevator, Extra Storage, Gated Parking, Pool, Rec Multipurpose Rm Pets Allowed Allowed: Call For Rules Covered Spaces Spaces: 2 Entry Level Level: 3 Common Walls Walls: Attached Heating Heating: Central Cooling Cooling: Central Laundry Features Features: Room, Other Other Equipment Equipment: Dishwasher, Elevator Fireplace Features Features: Living Room Flooring Flooring: Other Furnished Furnished: Unfurnished Number Of Units Total Total: 52 Association Fee Frequency Frequency: Monthly Association YN YN: true Lot Size Source Source: Vendor Enhanced Security Features Features: Gated Remarks As you enter, you will notice the open floor plan and serene private patio, which is perfect for lounging while enjoying the ocean breezes. The updated kitchen provides stainless steel appliances, high-quality cabinets, and counters, a beautiful wood bar for seating, and is open to the living and dining areas. The floor plan features 2 master suites, one with walk-in closets. The larger master bathroom features double sinks. This unit is quiet and relaxing, a short 1-mile walk to the beach, located near great Westside restaurants and shops, short commute to Silicon Beach tech companies, and easy access to 405 and 105 Freeways. HOA amenities including pool, tandem secured parking for 2, laundry room with 2 washers and dryers downstairs, and small rec room and gym.
Manuela Schuster
LISTING PHO PHOT TOS A
8145 Redlands St 105, Playa Del Rey
Manuela Schuster
ML #19
$719,000
COMP OMPARABLE ARABLE PR PROPER OPERTY TY ST STA ATISTICS Sold Listings Number of listings
4
Lowest price
$745,000
Average price
$757,500
Highest price
$765,000
Avg price per sqft
$622
Avg DOM
32
Active Listings Number of listings
3
Lowest price
$719,000
Average price
$754,667
Highest price
$780,000
Avg price per sqft Avg DOM
$621 20
Manuela Schuster
AN
ONLINE V VAL ALU UATION ANAL ANALY YSIS Sold Listings Address
Sold Date
Sold Price
Zestimate
Difference
8515 Falmouth Ave 406
6/14/19
$765,000
$762,187
-0.4%
8135 Redlands St 108
8/1/19
$760,000
$761,245
0.2%
8600 Tuscany Ave 207
8/14/19
$745,000
$744,699
0.0%
8601 Falmouth Ave 217
6/5/19
$760,000
$756,971
-0.4%
Active Listings Address
Price
Zestimate
Difference
8600 Tuscany Ave 214
$765,000
$765,000
0.0%
8601 Falmouth Ave 206
$780,000
$788,104
1.0%
8145 Redlands St 105
$719,000
$750,007
4.3%
Source:
Manuela Schuster
AN
SOLD PR PROPER OPERTY TY ANAL ANALY YSIS
Address
List Price
Sold Price
% of List Price
DOM
$ per Sqft
8515 Falmouth Ave 406
$789,000
$765,000
97.0%
15
$560
8135 Redlands St 108
$750,000
$760,000
101.3%
10
$610
8600 Tuscany Ave 207
$745,000
$745,000
100.0%
69
$652
8601 Falmouth Ave 217
$750,000
$760,000
101.3%
35
$667
Sold Averages
$758,500
$757,500
99.9%
32
$622
Manuela Schuster
AN
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