Palos Verdes Real Estate

May 2021 Newsletter

May, 2021

Dear Neighbor:

OK, the real estate market is, in a word, nuts right now.  It seems to have begun last Summer when the shortage of houses for sale, due partially to Covid, caused supply to fall far short of demand.  Other than the recent slight rise in interest rates (which always motivates buyers who think the interest rate train is pulling out of the station), I can’t honestly explain its perseverance.  I (and no one I know) could explain it in 2007-8 either (except in hindsight) and it’s more frenetic now than it was then.  Any reasonably priced house for sale seems to have multiple offers over the asking price, which is great for sellers, less great for buyers.  I’ve heard stories of buyers making offers on 12 houses and being out-bid every time.  History teaches that this too will end, and just when everyone is looking the other way.

I’m including a couple of my new listings here, that are in that category (receiving multiple offers).  3101 Paseo Del Campo is a truly spectacular property across from the PV Golf Course and with a panoramic, unobstructable view of it.  This is a one level 3 bedroom home with huge rooms and high open beam ceilings throughout, sitting on a 12,200 square foot lot, totally remodeled and in turn-key condition.  Asking $2.2 million, you will have a tough time finding another like it in PVE.

Also included a 26403 Grayslake Rd, RPV, which is a lovingly maintained largely original home in Grandview Estates.  Built in 1961, this was the step-up from the original Grandview.  There are 3 bedrooms, 2 baths, and a large (almost 7200 square foot) utterly flat lot.  An ideal home for a young family, it is walking distance to highly rated Silver Spur Elementary, Peninsula High, and the Peninsula Shopping Center.  Asking $1.195 million, and Katie bar the door.

If you’re a seller in this market, you are in an enviable position.  If you’re a buyer, you really need an agent who is well-connected with the market and properties that are coming up, and who is known and respected by the other agents.  This will maximize your chances of beating out the other 12 offers and getting the house of your dreams.  In Palos Verdes, use an agent based here – not in Torrance, the Beach cities, or someplace like Beverly Hills.  If you’re competing with other offers, being represented by an agent known and respected by the listing agent can go a long way to getting your offer accepted.  That pretty much describes me, so whether you’re buying or thinking of selling, call me (310 613-1076).  People have also told me that my website (www.DanaGraham.com) is entertaining and informative.  Be sure to check out About Palos Verdes at upper left.

I look forward to hearing from you.

This entry was posted on Wednesday, May 5th, 2021 at 6:32 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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