Is Now a Good Time to Buy or Sell Real Estate?

As we close out the first half of 2022 and celebrate our Great Nation's Independence, let's take a moment to be take a look back on the wild ride that has been this year so far. We started the year off with low housing inventory, and interest rates in the low 3% range. Demand surged as buyers looked to get ahead of the highly anticipated interest rate hikes, and many properties were selling 10-20% over...

South Bay Summer Events 2022 – Concerts in the Park, Surf Festival, and Volleyball

While we live in what most would consider an Endless Summer, Summer in the South Bay is a pretty fun time to enjoy outdoor events.  When you tire of going to the beach or swimming in the pool, here are some of our favorite things to check-out during the summer. Events/Entertainment International Surf Festival - Beach Cities August 3rd-7th Pier to Pier Swim, 6-Man Volleyball Tournament, Surf...

2021 Recap and 2022 Forecast – Record Prices and Not Enough Supply

2021 Market Recap To put it simply, 2021 was an amazing year if you own real estate anywhere in the US, but especially here in the South Bay and Palos Verdes. For the wider South Bay, Let's take a look at 3 different markets in the South Bay, Manhattan Beach, Redondo Beach, and Palos Verdes Estates. All 3 markets have seen a significant drop in inventory since late 2008. Meanwhile as inventory has...

2nd Annual Valmonte Holiday Home Decorating Contest

It's time to spread some cheer and decorate your house for the Holidays. As we did last year, we are giving away special gifts from local businesses to the winners as voted on by our panel of experts. To enter, all you need to do is decorate your home by Sunday, December 12th and the winners will be announced on December 18th. Make old Clark Griswold proud and go all out this year in...

I Showed a Zillow Owned Home and This Is What I Learned

Disclaimer: This post is as much for buyers and sellers as much as it is for my fellow Real Estate brokers.Zillow advertises on their website that after only answering a few questions, they will buy your home and save you the hassle of selling. After they purchase your home, they list it for sale and hope to make a profit. I say hope (no pun intended here), because the house I showed yesterday, 315 N...

End of Summer Market Recap – Years of Declining Supply Vs. Rising Demand

Despite what you may hear on the news or read in the headlines, the real estate market has not really slowed down this summer, and I don’t expect it will anytime soon in the South Bay. How do I know? The numbers don’t lie.Let's take a look at 3 different markets in the South Bay, Manhattan Beach, Redondo Beach, and Palos Verdes Estates. All 3 markets have seen a significant drop in inventory since...

Palos Verdes Market Review – Is a Crash Coming?

Is a Crash Coming? For those keeping an eye on the real estate market, the market is continuing its torrid pace. The median price of a home in Palos Verdes Estates ($2.3m) is up 25% over the past year, and as a result, I am starting to hear the question, “Will there be a crash?” While my crystal ball is still at the repair shop, I will attempt to answer this question based on what we know about the...

The Wealth Effect – Are You Feeling It?

The Wealth Effect What is the wealth effect? It can be described in simple terms as “if my neighbor just got that price for their home, then I can get that or more for mine!” It’s the effect of seeing a too good to refuse number to get a seller motivated to sell. At least that’s what buyers are hoping. As prices continue to climb to record highs, it’s the wealth effect that often drives “maybe...

Are Capital Gains Looming for Real Estate Sales?

I’ve never met anyone that likes paying taxes, and most of us try to find ways to avoid paying more of them, but if the current Administration has their way, you may be paying a lot more when you sell your appreciated real estate assets.  To pay for nearly $2 Trillion in planned spending, President Biden is proposing significant tax increases on Americans making over $1M.  While that is only a small...

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