"Palos Verdes Resident since 1947"

July, 2011

While prices in Palos Verdes have held up reasonably well throughout the current financial “crisis”, sales since the first of the year have slowed compared to the same period last year.  In Valmonte, whereas we had 25 sales between January and July 2010, this year we have had 16.  On the entire Peninsula there were 241 sales first half of 2010, with 196 during the first half of 2011.  By “sales” I mean properties going into escrow, not those that sold before and closed this year.  Prices are down slightly but, with all the perceived economic uncertainty, buyers are only willing to make offers on the best “values” — ie, lowest asking price for what the house is.  I recognize that you can drive yourself batty trying to analyze the reasons for these ups and downs, and no doubt things will pick up again soon.

If you’re on the market “in the middle of the pack” value wise, you may think you’re in good shape, but if you want to sell, you’re not.  Serious buyers these days look at everything in their price and criteria range, but only make offers on those homes with the most “reasonable” asking price.  The others have the effect of helping the correctly priced homes sell.  If you put yourself in the buyers’ shoes, you’d likely think the same way.  Clearly in an area like Palos Verdes there is a gray area as to what constitutes “good value”, but the general principle still applies, which is one reason it’s important to use an agent with a track record in Palos Verdes.  The two “For Sale” properties enclosed certainly fall into the “good value” category.

If you will allow a little personal horn-tooting, your humble correspondent was the #1 Prudential agent in Palos Verdes for the first half of 2011.  While this is never a goal of mine (I’m usually #2 or 3), it’s nice to see it once in a while.  I am competing against agents with assistants, sub-agents, agents for banks feeding them foreclosures, etc, none of which I have (if you hire me, you should get me, not an assistant); I just sell houses one at a time for people like you, in the way I wished my agent had. 

When you’re considering selling, give me a call — I’m the lowest pressure agent you’ll meet.  I’ll let my past clients tell you all the things I did for them, and will do for you.  Visit my website at www.DanaGraham4re.com or give me a call at 310 613-1076.

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