Palos Verdes Real Estate

Newsletters Category

March 2025 Newsletter

Dear Neighbor: As we say in the business “inventory is up”.  I’ve always disliked the term “inventory” because it makes houses sound like just a commodity, which they never are to me.  Each house is filled with decades of precious memories. Generally prices are at or near their all-time highs, prior predictions of doom notwithstanding.  As I discussed at the time, when Covid hit, pretty much everyone predicted that the market would tank.  What actually happened was that Covid restrictions and anxiety...Continue Reading!

January 2025 Newsletter

Dear Neighbor: Not to beat it to death, but real estate prices were flat for most of 2024.  As you know, there was a big run-up in prices during Covid, the reasons for which I have discussed previously.  By all odds, there should have been a post-Covid price correction; but if there was, it was barely measurable.  One reason was the number of people who re-financed when interest rates were under 3% and don’t want to sell their house and give...Continue Reading!

November 2024 Newsletter

Dear Neighbor: Real estate prices have flattened out in the past 6 months.  There is never any shortage of explanations for whatever the market does, so I won’t indulge in that here.  There is, however, a shortage of homes for sale, which is supporting the prices.  Interest rates have eased a bit, into the 5’s if you know where to go (I do), but there are a lot of folks who don’t want to give up their current sub-3% mortgage by...Continue Reading!

July 2024 Newsletter

Dear Neighbor: I was bombarded with phone calls after my May newsletter, on the subject of Proposition 19 and property re-assessment upon death of a parent.  As the bill was originally passed and implemented, it required that, upon death of the parent, ALL heirs move into the inherited house to avoid a reassessment at market value which, as you can imagine, would trigger a massive increase in property taxes.  Well, it appears that Sacramento was also bombarded with complaints about that...Continue Reading!