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...
Manhattan Beach
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...
In this video blog post we discuss the rapid rise in real estate prices and discuss the driving force behind the buyers pushing the...