Palos Verdes Real Estate

Real Estate General Info Category

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!

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!

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!