South Bay Echo for Nov 5
King Harbor liveaboards no longer, Bruce's Beach, Zillow backs out and weekend events
Hello friends… Welcome to the 10th edition of South Bay Echo, your source of local hometown news with a real estate angle.
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King Harbor Marina to evict liveaboards
The new owners of King Harbor Marina who took over in the middle of last year announced Thursday, Nov. 4, they would no longer allow liveaboards and all permanent residents have six months to find a new place to live. The unfortunate news came with a heavy heart for many longtime residents of the marina, many of whom are older with very low incomes.
Dr. Allen Ginsburg, father of former Redondo Beach Councilman Jeff Ginsburg, took ownership of the marina master lease from the Guthrie family in 2020. Since then, changes have been slow such as new digital parking meters and layoffs of several staff members. Eliminating liveaboards has been the most dramatic change causing many slip owners to fear a major rent hike soon.
These changes might be good for the owner’s bottom line but they will destroy the character of the marina, which is known for its eclectic group of liveaboards. King Harbor Marina, especially the docks with smaller slips, have always been a refuge for those who love the ocean and love Redondo Beach, but likely don’t have the financial means to afford it.
Take for example my friend Rick. He served in Vietnam as a medic and he’s lived on D Dock in King Harbor for more than 30 years. He has never even considered living on land despite a host of chronic illnesses. Now where will he go that feels like home?
I’ve often joked the marina is like a trailer park that floats. Well you know what? It’s our trailer park and it’s got more character than most. We should embrace this community rather than kicking them out for profit.
Manhattan Beach City Council fumbles Bruce’s Beach plaque
While the saga around Bruce’s Beach has drawn national attention, the Manhattan Beach City Council continues to make headlines for what it won’t do and that’s apologize for the nearly century-old injustice.
Governor Gavin Newsom specifically acknowledged the council’s refusal during a press event earlier this year when the state officially returned the property — now a county lifeguard building — to the Bruce family heirs. To be fair, council members Steve Napolitano and Mayor Hildy Stern both voted to apologize with a majority of the 5-person council voting against it.
This week, the council squabbled over the details of a revised and rather lengthy plaque that will replace the current monument, according to the Easy Reader.
An historical task force created in August 2020 issued a 75-page history of Bruce’s Beach, accepted by the City Council June, which highlights some of the important aspects of the story that many people mistate. The plaque was based on this history.
Some of the details that came out were eye opening. For instance, the white families who were also evicted did not have structures on the property, and that another black family, the Slaughters, opened a similar waterfront lodging house adjacent to the Bruce’s Beach property soon after the evictions took place and they too faced harassment.
Evidence shows one of the city’s most revered leaders, George Peck, played a major role in this scandal. Today there is still a Peck Avenue and Peck Reservoir in Manhattan Beach and a park named after him in San Pedro. The KKK also had a presence in Manhattan Beach at that time, according to the report.
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Could Zillow’s exit from ibuying signal calming waters?
The real estate website Zillow announced this week it was backing out of the so-called ibuying market, which allows buyers and sellers to transact real estate holdings digitally with little hassle.
It all sounded great and some people got some fabulous deals, but overall it means that a third-party is scooping up lots of homes for cash and then reselling them at a profit, or so they hope.
Internet buying as it’s called is really industrial home flipping. Companies such as Opendoor, Offerpad and Redfin offer similar services. As Zillow found, the game wasn’t exactly working out as the algorithms had them paying too much and needing to sell in many cases at a loss. Overall the company said it lost $381 million on its Zillow Offers service.
All told, such ibuying companies accounted for 1.2% of total homes sales in LA and Orange counties in the second quarter, and in places like Phoenix it’s up to about 5%, according to the LA Times.
Now that Zillow is reversing course, it wants to sell its remaining homes to institutional investors. None of this is good for those who want to get into homeownership, but hopefully it’s a sign this destructive trend is coming to an end. To be a part of the solution, hire a realtor and sell your home right.
Film fest in Hermosa Friday and Saturday
The Sunscreen Film Fest West in Hermosa Beach, a sister festival to Sunscreen Film Festival in St. Petersburg, Florida, takes place at the Hermosa Community Center Friday and Saturday, Nov. 5 and 6. This will be the 9th year for the festival in Hermosa, which features top notch films, provides workshops and hosts great parties. To purchase tickets click here.
Westside Food-Wine-Spirits at auto museum
The Westside Food-Wine-Spirits Festival takes place 12:30 to 4:30 p.m. Sunday Nov. 7 at the Automobile Driving Museum in El Segundo. The event occurs inside the museum among the classic cars as well as outside with special attractions. Great food from SoCal’s best culinary talent, fine wine, exquisite cars and more… what else could you ask for? For tickets click here.
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