EGBOK Does anyone remember this saying? "Everything's Gonna Be OK" was coined by the "Ken and Bob Company" morning radio program on KABC-AM Los Angeles, California (on the air from 1973–1990). I tell my kids this when they are stressed about something, and it applies to today in many ways as well. Sure, there are some scary things out there, but the world has been through worse. In terms of Real Estate,...
Valmonte
2024 Palos Verdes Market Forecast Real estate prices are expected to rise 2-4% but huge gains are unlikely due to challenges with housing affordability to all but the very top end of the market Sales volume is expected to continue to remain below normal levels, but improve compared to 2023 Owners looking to “right-size” will continue to seek one level homes Millennial demand is not...
Happy 2024! I hope the year so far is off to a good start and you are excited for things to come. I am grateful to get to call PV home, and am reminded daily of why this is such a special place to raise a family. I was recently chatting with several parents while attending my son’s soccer game at PVIS in Lunada Bay. Besides being a fantastic school, while standing at the field we had amazing...
June 2023 Market Update So far, 2023 has not brought the collapse in real estate values in the South Bay that many buyers were hoping for, and some economists even suggested. Instead, buyers have adjusted to the higher interest rates and are letting life changes dictate their need to buy or sell real estate. As we start summer, Inventory is hovering around 60% of pre-Covid seasonal levels...
South Bay Real Estate Market Update: May 22, 2023Market Rating: Seller’s MarketOnce again it was a busy week for buyers and sellers in the South Bay. Closed sales held steady with more properties selling at or over the list price, while new escrows declined slightly. Inventory increased just a bit but overall we saw tight supplies across most neighborhoods. There were some big sales in the Manhattan...
What we are seeing across many submarkets in the South Bay is even more extreme in Palos Verdes and in particular, Valmonte - Sellers aren’t selling. It’s not that they are trying to sell and properties are just sitting, it’s that would-be-sellers aren’t even attempting to sell. Meanwhile, there are plenty of buyers waiting in anticipation for the right home to come available so they can settle...
The year is in full swing and despite some wild weather, the sun shines brightly and the local mountains are full of snow. I want to give a special shout out to our local cities for their diligence and prompt responses to the downed trees and debris as the result of the recent wind and rain storms that recently soaked us. It’s hard to ignore the headlines, but by now I assume that if you are reading...
South Bay Real Estate Market Update: December 9, 2022Sales keep moving along, but inventory running thin; How does Q4 compare to the rest of the year?This week we are diving into the numbers and comparing today’s market with early Spring, Summer, and Fall to see how things have changed this year. This week, we saw another 61 sales close in the past week which is consistent with the past few weeks....
I almost didn't believe the stats, but after looking at it for a 3rd time, it's real. Since October 2020, the median selling price in Palos Verdes Estates has grown by 49% from $1.88M to $2.8M (12 month moving average). In Valmonte, the number is even more staggering where the median price grew 62.5% from $1.6M to $2.6M in the same time period. But what does that mean moving forward? For those that...