"Palos Verdes Resident since 1947"

November 2012 Newsletter

Dear Neighbor: 

As you can see from the enclosures, things are jumpin’.  As I hinted the last time I wrote, it seems as if everyone who ever thought of buying is attempting to do so now – and who can blame them?  With interest rates at levels we won’t see again in our lifetimes (3.5% 30 year fixed — well, not in my lifetime — maybe in yours) and prices still unrecovered from the ridiculous levels of 2007 (don’t hold your breath for that), it’s the “perfect storm”, whether you’re buying or selling.  Low interest rates are an obvious plus for buyers, but they help sellers too, in that more buyers can qualify to buy your house.  This has caused prices to firm and even rise slightly in the past couple of months . . . tho, as I always say, this will become clearer with a little more retrospect.  

One thing I have been telling all my clients for the past few months is that if you’re planning to buy or sell within the next year or so, my advice is to do it sooner rather than later.  Why?  Because interest rates, held artificially low due to the slow economy, simply have to go up as a function of government budget deficits sucking up a lot of capital.  This snowball (a better metaphor than a can) can only be kicked down the road so far, growing as it goes, before it’s no longer manageable.  When that time comes, interest rates will rise and home prices will decline, as fewer buyers will be able to qualify, and the ones who can will be looking at smaller loans.  This will be good for neither buyers nor sellers.  When will this happen?  When I know that sort of stuff I will be dressed in robes on a mountaintop and you’ll have to have an appointment.  But I am surprised that it hasn’t happened yet, if that helps. 

In addition to the enclosed properties, I have a lovely one level 2400 square foot home on a cul-de-sac in the Country Club coming up, plus a few others that are only rumors at this stage. 

Meanwhile, feel free to check out my new state-of-the-art website:  www.DanaGraham.com.  Down to the right on the home page, you will find “Categories” of articles on everything from how to get your house ready for sale, to why you should not rely on websites such as Zillow, to “The Things You Always Wondered About Palos Verdes”, to the “History and Current Events” section, a product of my other life as a military historian.  

If you’re thinking of buying or selling, or urgently need to know how the French could have lost the Battle of Agincourt, give me a call at 310 613-1076.  I still try to be the kind of agent I wished I’d found when I was a buyer back in 1980, which includes not pestering you.  So you don’t have to worry about that.  Hope to talk with you soon. 

                                                                                                                                                                                Sincerely, 

                                                                                                                                                                                Dana H Graham

                                                                                                                                                                                DRE #00877973

 

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