Palos Verdes Real Estate

January 2019 Newsletter

Dear Neighbor:

I think it would be hard to make the case that real estate prices in Palos Verdes have increased during the past year.  Of course there are all kinds of claims and statistics out there, but observing from out here where the rubber meets the road, prices look flat for 2018; however, they are still at or near their all-time highs.  There isn’t space to get into it here, but I’m sure you understand that in an area of largely custom homes, it’s a difficult thing to measure accurately.

This brings into focus an issue I’ve discussed here before:  the importance of using a local Palos Verdes agent when selling (or buying) in Palos Verdes.  Given the preponderance of custom homes, property values here are difficult to determine based solely upon statistics such as dollars per square foot.  The only way to accurately determine values is by having seen the other sales, which can only be done while they are on the market.  That requires someone who regularly does business here and actually goes to see the properties.  The agent who sells a house in PV every couple of years is not going to regularly take the time to do this.  A local agent is able to make what are often subjective comparisons – was the “remodel” of that recent sale really as good as it looked in the pictures, how usable was that 20,000 square foot lot, and a lot of similar factors you simply can’t analyze sitting at a computer in Manhattan Beach.  You’ve heard me say this before, but it’s also true that agents from outside areas are itching to do business in Palos Verdes.  This can often lead them to give you, the seller, an unrealistically high recommended asking price in hopes that such flattery will get them the listing.  The problem for you, of course, is that a too high asking price will cause the house to sit on the market until it’s “stale”, which will generally result in a lower eventual sale price.  And pricing is just one issue – there are myriad others which can make or break your sale.  My advice continues to be to ask the agent for a list of homes he or she has sold in Palos Verdes as an important gauge of that agent’s involvement in this market.  My list will stand comparison with anyone’s.

I’ve got a couple of really nice listings right now:  18 Buckskin Lane, RHE, is a remodeled 3040 square foot 5 bedroom 4 bath home in The Lanes with grounds that include pool, spa, outdoor fire pit, and an enchanting man-made river that flows over waterfalls.  This is a lot of house for an asking price of just $1,699,999.  I also have 4630 Browndeer Lane in RPV, which is a completely remodeled 2711 square foot rare 6 bedroom 3 bath with a kitchen right out of Architectural Digest.  We have also reduced a lovely end unit in the South Shores Racquet Club to $698,000.  At over 2000 square feet, a lovely ocean view, and move-in condition, this is an excellent value.  Don’t wait on these, because everything else I’ve got is either in escrow or sold.  Give me a call at 310 613-1076 or visit my website:   www.DanaGraham.com.

I hope you all had a lovely holiday season and have an equally great 2019!

This entry was posted on Thursday, January 3rd, 2019 at 7:46 am and is filed under Buyers, Everything I've Written, Newsletters, Palos Verdes Information, 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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