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New Listings are Up, Pending Sales are Down – What does that mean for you?

It’s June and the beginning of the “summer selling season” for real estate in Valmonte.  Instead of a bunch of flowery talk about how great everything is about the market, I’m going to go out on a limb and dare to be more realistic than perpetually optimistic.  The local real estate market is setting up for a price correction.  The bigger question, and one I don’t have an immediate answer to,...

2018: Valmonte Real Estate Forecast – Are we in a bubble? What about taxes? And Should I Buy or Sell in 2018?

Spring greetings from our humble abode here in Valmonte.  After a bumpy start in the stock market, I write with the prospects of a great year ahead in both the overall economy, as well as the local real estate market.  The Valmonte real estate market is coming off a strong end to 2017, and a robust start to 2018.  In fact, in the last 24 months, no home in Valmonte has sold for less than $1,000,000! In...

Mid-Summer Musings on Valmonte Real Estate

Market climate - Valmonte There are currently 16 homes on the market, approximately double the amount year-over-year, and near the highest level in the current market cycle The absorption rate is 4.7 months, and nearing the peak of 6.4 months supply in October 2014   Prices on a square foot basis are near record highs ($734/ft) Days on Market for the last quarter are at record lows (41 days)...

Realistic Pricing? At Least for a Couple Months Anyway

2017 started off great.  13 homes sold in the first quarter within 97% of the asking price.  But, as in the past, sellers are starting to feel confident and as a result we are seeing "optimistic" pricing.  I don't blame sellers.  I, like many realtors, am an optimist (you sort of have to be in order to survive in this career).  We tell our clients "prices are rising," or  "there's no inventory!" and...

Say what? This one sold grossly under market!

4033 Via Valmonte sold for $1.12m in January You've heard me say it before, 2015 was a great year in real estate in Valmonte.  Prices were up and the number of sales was the best in nearly 20 years.  So with all this great news, how did a move-in ready home with views sell for $1850/foot under the average price?  The story gets even more interesting when I add the fact that when I contacted the...

Valmonte Remains a HOT Market

Things aren't showing any signs of slowing down here in the Valmonte real estate market. In just the last few weeks we've seen most new listings go into escrow with multiple offers.  The sweet spot seems to be move-in ready homes under $1.6 million. Houses in need of significant repairs or updates seem to be lingering around longer until there is a notable price drop. In the last week we saw 3908 Via...

4125 Via Largavista on the market

If you gage the real estate market by walking around a neighborhood, you would certainly call Valmonte sleepy based on the general absence of for sale signs in the front yards.  This reality can be seen a few ways.  Maybe you can call it the Holiday calm; who wants to have people touring your home while you're trying to enjoy the special time that is the holiday season?  It could be that everyone loves...

An edible garden grows at a school in Palos Verdes Estates – Los Angeles Times

Here's an article from the LA Times talking about a cool project going on at Valmonte Elementary school. A Palos Verdes Estates garden aims to help kids dig veggies Volunteers convert a hillside plot into the Valmonte Farm and Nature Garden, the latest project in nonprofit group's effort to teach youngsters about healthful food. September 16, 2012|By Martha Groves, Los Angeles Times Teacher Lauren...

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