Rate talk seems to permeate almost every real estate article and conversation these days. (I wrote about rates in a blog post last month so for those that want to get a better understanding, I’ll refer you to that post). No doubt rates are important, but rates are only part of what is driving the current real estate market. Right now it’s all about affordability, motivation, and quality inventory....
I guess it’s something I take for granted, being so close, just a short walk from my real estate office. On quiet days I’ll take a walk just to see how much the creek (Malaga Creek to many, Frog Creek to the dozens of kids that frequent the local waters) is flowing. But today was different. I had two six-year-olds in tow—our youngest daughter and the neighbor’s kid—meeting up with fellow...
Halloween is always a festive time in Valmonte. a picturesque neighborhood of Palos Verdes Estates. It is a lively event that brings the community together to just have a good time. The streets, lined with mature trees and absent of that street light glow, transform into a big Halloween celebration. Houses are elaborately decorated, from spooky spider webs, glowing jack-o'-lanterns, and life-sized...
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...
(3 minute read) We are just past the half year mark and when it comes to South Bay real estate, I have some upbeat news for homeowners and hopeful buyers. To begin with, prices, inventory levels, and sales volume increased compared to last year at this time. For buyers the good news is interest rates are showing signs of stabilizing and the month's supply of inventory has increased across most micro...
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...
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...
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