How’s the market? Overall, the market is slow, but steady. Slow because we have seen a drop off in the number of homes for sale, and therefore closings, when compared to the past few years. Steady because well priced properties continue to sell, some with multiple offers. Sales activity has slowed in recent weeks but that is typical for this time of year, especially in an election year. On...
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,...
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...
“Be fearful when others are greedy. Be greedy when others are fearful.” Warren Buffett Based on a detailed review of the South Bay Real Estate Market, I believe we are coming into a window of buying opportunities that we have not seen in several years. The three key indicators that support my belief include the following: Days on Market have increased nearly 40% from a year prior; Months...
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...
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...
There is a lot of prognosticating going on these days. Whether it's around the economy or the upcoming elections, Things are constantly compared with "normal." But what is normal? According to Webster, normal is a very technical term with many definitions. In the case we often hear it used, this is the most fitting definition: "according with, constituting, or not deviating from a norm, rule or...
The real estate market is going through some interesting times this summer. We have low inventory, prices are holding at all time highs, and interest rates are up about 2% from the start of the year. When viewed with my 2021 goggles on, it looks like buyers have gone on vacation this summer. While some may just be on vacation and put their home search on hold, others may have stopped looking...
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...
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...
Compare listings
Compare