Palos Verdes Estates Real Estate

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...

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...

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...

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