Dana Graham

Newsletters Category

January 2015 Newsletter

Dear Neighbor: Another year!  I know when I was a kid growing up in Valmonte, even the year 2000 seemed inconceivably far off.  Figured I’d probably die of something before then, but they haven’t got me yet. The subject this month is websites.  The internet has made a lot of things easier and has complicated others.  I’m sure you have as many examples as I do, but the subject is real estate.  When you list your home for sale, you naturally want...Continue Reading!

November 2014 Newsletter

Dear Neighbor: The market continues as before.  I would say it’s about a 7 on a scale of 10.  I sense, though, that many buyers think the market has peaked or is about to.  The argument for buying now remains low interest rates – just over 4% for 30-year fixed.  I’m telling you, we’re all going to look back on this as the good old days. The subject this month is the agent you hire.  Hire me.  OK, letter’s over.  But seriously,...Continue Reading!

September Newsletter

Dear Neighbor: After a brief lull, the market has resumed a fairly active pace, though not quite as crazy as last Spring.  The difference this time is that the market is more price-sensitive – you can’t just put a house out there at any price and expect activity.  This is normally an indication that buyers think the market is close to topping out.  If anyone has a logical explanation for these seemingly random spurts, please let me know. Out here in the...Continue Reading!

July 2014 Newsletter

July, 2014 Dear Neighbor: After about 8 months of frenetic activity, the real estate market has slowed somewhat, which you may remember I predicted a few months ago.  Prices have risen significantly in the last year or so but, at some point, affordability plus some sellers over-shooting the mark on price causes the sort of slowdown we’re now seeing.   This will be picked up by the media in about 60 days, so you can expect to still hear breathless reports of huge...Continue Reading!

May 2014 Newsletter

May, 2014 Dear Neighbor: Despite what you may have heard on the news, the local real estate market is still very active.  I have a very nice 4 bedroom 3 bath one level home coming up in Rolling Hills Estates in the $1,250,000 range, so call me if you know anyone who would like to see it before the rush. Some of the myths in real estate make “Elvis is in the building” look credible.  One holds that you should price your house...Continue Reading!

November, 2013 Newsletter

Dear Neighbor: The real estate market in Palos Verdes (and the South Bay, for that matter) continues at about a 5 on a scale of 10 activity-wise.  It feels slow compared to last Spring, but those of us who have been around for decades have seen this movie before.  The interest rate rise of last June acted as a speed bump, slowing the market to a more normal pace. Whether you’re in the real estate market to buy or sell, or not,...Continue Reading!

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!

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!

May, 2013, Newsletter

Dear Neighbor:  Onward and upward!  Reasonably-priced homes continue to sell quickly, often with multiple offers.  Interest rates still have not moved upward, remaining at around 4%.  And lenders have begun making 95% loans again (5% down) – I think this is called amnesia.  One of the less-obvious issues we’re having these days is that of appraisals.  This is always a problem when the market is rising, as appraisers use closed sales (which, of course, are lower in a rising market) to determine...Continue Reading!

March 2013 Newsletter

Dear Neighbor:  The real estate market is still jumpin’, with interest rates remaining below 4% for all but the biggest loans or smallest down payments.  There is still very little for sale, and prices have certainly risen during the past 6 months or so.  The feeling on the street is that it’s just a matter of time (and not much time) before rates rise, so my theory (not exactly genius) is that everyone who has been thinking about buying and can,...Continue Reading!