Palos Verdes Real Estate

September 2013 Newsletter

Dear Neighbor: 

In my July newsletter I mentioned that interest rates had just gone up about 2% (which is huge – 4% to 6%) about a week before I wrote it.  They have now settled to just under 5% now (loans over $729,750 are somewhat higher), but the predictable effect has transpired:  whereas in April when the market was absolutely berserk, there were as few as 112 homes for sale on the Hill; there are now 168, give or take.  For perspective, in the early 1980’s there were close to 600 (and there were fewer homes in existence then), so in the big picture it’s not so bad. 

On the subject of loans, whether you’re selling or buying, it’s important to have an agent who knows where to get the best ones.  One of the benefits my clients receive in this area results from the purchase of my PVE house in 1980, when rates were 17% or so (which is why there were 600 for sale).  My agent provided absolutely no assistance in financing that house, and the seller and I basically put the deal together.   It was that transaction that drove me into this business with the idea that a reasonably focused and client-oriented agent is in an ideal position to provide good, unbiased advice on loans, especially since the agent cannot legally receive any compensation for it (which is one reason agents rarely get involved in it).  This does require some extra time and effort on my part to know at any given time where the cheapest money is for each kind of buyer (big down payment but so-so credit, great credit but 5% down, down payment coming from relatives as a gift, etc), but I’ve had it save the sale in several cases, even when it was my listing and I found the buyer (not my client) his loan! 

The new listings I talked about last time have sold, but I do have a totally remodeled 2737 square foot home on El Rodeo now for sale (see flyer enclosed) plus a lovely home for lease in Valmonte – 112 Via Las Vegas:  about 3000 square feet, 5 bedrooms, 3.5 baths, family room, rumpus room, storage room, totally renovated on 1.5 lots at $4000/month.  Call me on these or others I may have further up the pipeline. 

I did write the article on pocket listings I mentioned last time, which you’ll find on my website www.DanaGraham.com,  as well as an older (but still quite relevant) one entitled “It’s Not Rocket Science”, which I’ve re-printed and included here. 

The seller who was the subject of the pocket listing article is moving to the Bay Area later this week, and I will be driving her car (and dog) up there for her.  We made half a dozen trips up there to find her a house near her daughter and, working with a Bay Area agent, found her one.  After staying over night, I’ll be helping her place furniture on Friday the 6^th and flying back later that day.  Why do I tell you this?  Well, for one, if you call me Friday, I may be hooking up her stereo and unable to answer the phone right away.  But, more importantly, to remind you that customer service is more than talk with me.  I know that selling your house is a really big event in your life and, if I were you, I’d want someone like me helping you get thru it.  So what extra service did your agent provide? 

I can be reached on my cell phone at 310 613-1076 or via email at [email protected].

This entry was posted on Wednesday, September 4th, 2013 at 6:04 am and is filed under Buyers, Everything I've Written, Newsletters, Real Estate General Info, Sellers. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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