Dana Graham

Buyers Category

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...Continue Reading!

Are Realtors Are Overpaid?

I've heard this question before, and I understand where it comes from.  The answer is generally no, however, and here's why: 1)  When you pay your Realtor a commission to sell your house, you are paying for the accumulation of (presumably) many years' experience being brought to bear.  While you are not generally paying your realtor to attract buyers (if you read my stuff you already know this), you are paying him/her for what happens when an offer(s) appears.  I get into...Continue Reading!

New Lease — Valmonte Family Home — Reduced!

Just listed at 112 Via Las Vegas is this lovely about 3000 square foot one-owner family home in the coveted Valmonte neighborhood of Palos Verdes Estates!  4 bedroom 3.5 baths, gleaming re-finished hardwood floors and new wall-to-wall carpet, 2-car garage + tons of off-street parking, huge laundry room and storage space galore.  This house has a living room, family room, rumpus room, storage room, dining area, and is located on 1.5 lots (lots of yard) on a cul de sac --...Continue Reading!

New on Market on El Rodeo

This 2750 square foot 4 bedroom + office 3 bath home has just come on the market. Completely remodeled, it features island kitchen with granite counters, high ceilings, family room off the kitchen, 2 bedrooms on main level, 2 more (including master suite) upstairs. The private rear garden includes a barbeque and lattice patio cover. 6710 El Rodeo in New Los Verdes. $1.2 million and should be a gonner at that. [nggallery id=30]Continue Reading!

Pocket Listings

Whenever the market gets hot, the subject of pocket listings comes up.  A "pocket listing" is a signed listing with an agent who, for whatever reason, does not put that property on the general market.  The reasons might be that the seller doesn't want hordes of people tromping thru, or that the agent would like to see if his buyer will buy it before exposing it to other agents, thus ensuring the agent of a bigger commission.  While the first...Continue Reading!

July, 2013, Newsletter

Dear Neighbor:  As I said in my March newsletter, “it’s just a matter of time (and not much time) before rates rise”.  Well, that time arrived last week as you probably heard on the news.  30-year fixed rates on loans over $730,000 have shot up to nearly 6% from around 4% a month ago.  Though it may look high, 6% is still low by historic standards (my parents loan on Pleasant Hill Drive was 6.25% in 1963), and it’s a pretty...Continue Reading!

Just Listed in The Gardens

This closed escrow at $413,000.  There is pretty much nothing for sale in The Gardens, mostly because people who live there love it and won't move.  Here's your chance to join them with this coveted end unit with 2 master suites, family room off the kitchen, private patio, 2-car garage, and not far from the pool/clubhouse (but far enough).  2 bedrooms with big closets, 2 full baths + a guest bath on lower level.  I hope, for your sake, that this...Continue Reading!

First Time on Market in Los Verdes

Formerly "Coming Soon", I now have a lovely 5 bedroom 3 bath Los Verdes home on the market at $1,099,000.  Well-maintained by the original owner, this home has 2440 square feet of living area, a 3-car garage, a lovely ocean view, and the most amazing windows throughout that you've ever seen.  Call me at 613-1076 if you're interested cuz this will not last. [nggallery id=28]Continue Reading!

Why Your Escrow Won’t Close on Time

Escrows almost never close on the date scheduled which, if you don't do this every day, may seem strange.  After all, both parties signed an agreement that the escrow would close on a certain date.  Why doesn't it? There are a bunch of potential reasons, but here is by far the most common: The buyer's lender.  This is by far the single biggest reason for late closings.  It isn't that the lender doesn't have time to process the loan.  The problem is that, apart...Continue Reading!

Sold in 3 Days — 4045 Via Pima, PVE

Formerly "Mystery Valmonte pocket listing"!  This sold instantly and is now in escrow.   This is a totally remodeled 3 bedroom 2 bath one level home of just under 1500 square feet, 2-car attached garage, lovely red oak floors throughout, and very nice curb appeal.  Nice size rear garden.  Completely turn-key.  This house is on one of Valmonte's premier streets  -- I know, I know --  they all say they're "on the best street", and in Valmonte there really aren't any bad ones,...Continue Reading!