"Palos Verdes Resident since 1947"

March 2021 Newsletter

Dear Neighbor:

Out here in the real estate world we’re getting a small breather from the frenzied pace of 2020.  As I mentioned last time, that took us all by surprise.  When the reality of Covid hit in March, we all figured real estate was going to be on hold for the duration; but the opposite happened.  This was caused by the scarcity of homes for sale due to a) people just not wanting buyers carrying who knew what in their house, and b) the retirement homes all closing acceptance of any new residents, many of whom were on the verge of putting their houses on the market.  The market is still very active by any historical standard and there is very little for sale, so if you’re thinking of selling, don’t wait.

I’ve probably discussed this before, but I just witnessed a perfect example of one thing to avoid when looking at houses.  House shopping can be a tedious and time-consuming process.  I try to make it organized and fun for my buyers, but it can take time.  It is therefore common for the primary buyers to do all the looking, then bring their parents, other relatives, or friends in to see the house they, after months of looking, have settled on.  The buyers are excited and, though usually unstated, most of the time they are looking for approval of the decision they have made.  In the parents’ mind, and often in that of the friends, they are looking for reasons that this may not be a good decision.  This is absolutely understandable – they want to protect their child/friend from making a mistake.

Here is a problem:  the parents and friends have generally not been out looking at houses, and so are not acclimated to what the buyers’ budget will buy.  While the selected house is probably the best value given the buyers’ wish list and reality, the parent/friend doesn’t think the view is good enough, or the street is too busy, or the yard too small, or the condition is not what it should be “for that price”.  So after months of going through at least dozens of houses, and having settled on this house with an understanding of what compromises they are willing to make, the seed of doubt is planted and that is usually enough for the buyer to eliminate what was probably the best house within their parameters.  The message here is that all decision makers need to go out looking if they are going to have a say in the final decision.  Since this is often unworkable, everyone needs to respect the fact that the buyers have spent many months looking and are the most equipped to make the decision – not to mention that they are the ones who will be living in the house.

Speaking of which, I have a lovely new listing for sale in Lower Lunada Bay – 2545 Via Carrillo, Palos Verdes Estates.  It’s a 4 bedroom, 2.5 bath, 2389 square foot turn-key home on a quiet street within walking distance to all schools and Lunada Bay Center.  I have included a black and white information sheet.

The market remains hot, so if you’re thinking of selling, or need a respected local agent who can get your offer to purchase accepted in a multiple offer situation, give me a call at 310 613-1076 and visit my website:  www.DanaGraham.com.                                                                                  

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