Palos Verdes Real Estate
Home"Palos Verdes Resident since 1947"
September 2012 Newsletter
This is the text of my newsletter sent to approximately 1500 people. If you would like to get on my mailing list, either post a comment here or call me at 310 265-2141.
While the real estate market has slowed slightly in the past few weeks (too small a period to make any judgments), it’s still safe to say that if your house is priced correctly, you won’t have long to wait for a buyer. The market picked up noticeably a few months ago when no one was expecting it. My theory is that when interest rates on “super jumbo” loans (those over $729,750) went up by nearly a point (to the high 4%’s), it was taken as a precursor of a general rise in rates. Many buyers, not wanting to be left at the station, jumped on the train. As with most things in real estate, statistics tell only part of the story: buyers are still looking for good value (when are they not?), and overpriced houses that therefore take forever to sell can skew the statistics.
Speaking (and illustrative) of which, I’ve had a couple of listings sell recently while the ink was still wet. A magnificent 5300 square foot Mediterranean at $1.4 million in Redondo Beach and a remodeled 2 bedroom 2 bath townhouse in north San Pedro at $249,900 both sold instantly. Actually, the house sold before it even hit the market. The reason? Realistic pricing, period. Don’t get snowed by discussions of “target marketing”, “aggressive promotion”, or the rest of it. Every agent knows that if a house is priced correctly, it will sell; if it isn’t, it won’t. Your agent should be sufficiently familiar with your neighborhood that he/she can help you with house “presentation” (minor fix-up, arrangement of furniture, etc) and arrive at a realistic asking price which, combined with being on the Multiple Listing Service (and therefore all over the internet) is 99% of it. Arcane discussions of how the house was “target marketed” to this group or the other are a bunch of hooey, and you should not select your agent based upon that. Once you’ve prepared the house as above, you’ve maximized your chance to find the buyer who a) will pay the highest price for your house, and b) is qualified to pay it. As I’ve discussed at length elsewhere, it is at the point where you receive offers that the benefits of an experienced, competent agent become apparent, and you find out how good he/she is from then thru the close of escrow. I have several articles on this subject on my website: www.DanaGraham.com. Down on the right side, click on Real Estate General Info.
I currently have listed a lovely 3500 square foot 5 bedroom 3 bath home in South Redondo. I’ve included a flyer on it. If you drive on Prospect between PCH and PV Blvd, you know this widely admired house. This is your (or someone you know) chance to own it. It’s been for sale only one other time since 1960.
On the horizon is a lovely 4 bedroom 3 bath, one level, secluded, about 2800 square foot custom-built home near Mira Catalina school. The excellent floorplan, 3-car drive thru garage, and good-sized rooms offer the opportunity to remodel to taste. This home will be priced in the immediate vicinity of $1 million. I also have several other homes coming up in Palos Verdes Estates, so call me if you’re interested.
The market is still quite active, so if you’re thinking of buying or selling, call me – 310 613-1076.
Sincerely,
Dana H Graham
DRE #00877973
Dana Graham, Realtor®
Berkshire Hathaway Home Services
CA DRE #00877973
310 265-2141 (direct)
310 613-1076 (cell)
Top 10 agent
in PV in listings sold