Palos Verdes Real Estate Market Changes

Play video to see what’s happening in the market.  You can click the charts to see larger, more readable versions and use the link below to get more insight into the Palos Verdes real estate market


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In every Palos Verdes home market except for Malaga Cove, the absorption of inventory has improved.  The largest absorption improvement is found in the PVDS, Valmonte, Mira Catalina and La Cresta real estate markets.

To dig a bit deeper into the numbers we really need to understand why the absorption numbers have improved so much in the last 12 months.  Is it because demand (pending sale volume) has increased?  Are there more buyers in the Palos Verdes home market?  Or is it because supply (new listing volume) has dropped?  Are there fewer sellers in the market?  Or is it a combination of both factors.

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What we’re finding is that nearly for all Palos Verdes homes market areas, inventory, ie SUPPLY, has dropped immensely.  And at the same time, in most of the markets, demand has increased.  Some areas experienced decreases in demand (pending sale volume); however, in these areas, supplies dropped off by a greater percentage making a net result of an increase in the absorption patterns.

Bottom line, the market is firming up, prices are gelling and while no one can predict the future, this positive change is a welcome one for the Palos Verdes real estate market.

For more information, please visit www.homeispalosverdes.com

Here’s a great home for sale in the La Cresta area; one of the hottest markets now on the Palos Verdes Peninsula:

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George Fotion
Call Realty Company
(310) 346-6467
gfotion@emailtreo.com

Palos Verdes Homes; Polling Places

Palos Verdes Homes; find your Polling Location

Very timely, brief but informative article in Palos Verdes Patch todayimage

As Tuesday’s election nears, it’s time for voters to prepare.

The Los Angeles County Registrar-Recorder/County Clerk has a helpful website for voters to find their local polling place. Visitors also can select a party preference to get a sample ballot.

Polls are open from 7 a.m. to 8 p.m. Tuesday.

In addition to the presidential primary, voters will weigh in on a U.S. Senate candidate and two statewide ballot measures. If passed, Proposition 29 would add a $1 tax to cigarette to fund cancer research. Prop. 28 would put a 12-year term limit on lawmakers in the state Legislature. A politician currently can serve in office for 14 years.

 
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George Fotion
Call Realty Company
(310) 346-6467
gfotion@emailtreo.com

Home Prices in Palos Verdes Estates, CA

Palos Verdes Estates Homes Transactions Report (LIVE)

 

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WHAT IS THE “MEDIAN MAI”?  Send me an email, and I will explain the significance of this proprietary object algorithm.  And if you want the charts on other communities around the South Bay … just send an email to george.fotion@homeispalosverdes.com

Search for Palos Verdes Homes here …

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George Fotion
Call Realty Company
(310) 346-6467
gfotion@emailtreo.com

Palos Verdes Homes sell better with interactive tools

Selling a Home in Palos Verdes CA is helped by using Interactive Tools

When selling Palos Verdes real estate, the goal is to get more buyers interested in the home so that what is created is more competition and with that increased competition, a faster sale at a higher price results. 

 

One way to do this is to create an interactive floor plan that allows Buyers an easier way to envision themselves living in the home.  Here’s an example.  You can click on the the pictures below to be taken to the tour site of this home, then click on the “Space Designer” tab you will see at the bottom of the page that comes up.

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George Fotion
Call Realty Company
(310) 346-6467
gfotion@emailtreo.com

Palos Verdes Real Estate Trends

March Pending Home Sales Rise

Market Recovering WASHINGTON (April 26, 2012) –
Pending home sales increased in March and are well above a year ago, another signal the housing market is recovering, according to the National Association of Realtors®.

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 4.1 percent to 101.4 in March from an upwardly revised 97.4 in February and is 12.8 percent above March 2011 when it was 89.9. The data reflects contracts but not closings.

The index is now at the highest level since April 2010 when it reached 111.3. Lawrence Yun, NAR chief economist, said 2012 is expected to be a year of recovery for housing. “First quarter sales closings were the highest first quarter sales in five years. The latest contract signing activity suggests the second quarter will be equally good,” he said. “The housing market has clearly turned the corner. Rising sales are bringing down inventory and creating much more balanced conditions around the county, which means home prices will be rising in more areas as the year progresses,” Yun said.

The PHSI in the Northeast slipped 0.8 percent to 78.2 in March but is 21.1 percent above March 2011. In the Midwest the index declined 0.9 percent to 93.3 but is 16.9 percent higher than a year ago. Pending home sales in the South rose 5.9 percent to an index of 114.1 in March and are 10.6 percent above March 2011. In the West the index increased 8.7 percent in March to 108.0 and is 9.0 percent above a year ago. The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

Watch the video and continue below to see what’s happening with sale volume in the South Bay and Palos Verdes areas of California

 

So what is happening locally in the Palos Verdes areas? To get all of my proprietary trend charts, go here Palos Verdes Real Estate Trends, South Bay Real Estate Trends

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For more information on homes for sale in Palos Verdes, Palos Verdes real estate, palos verdes homes for sale, palos verdes foreclosures, palos verdes real estate market information as well as quality information on homes for sale in Rancho Palos Verdes, Palos Verdes Estates homes for sale, Manhattan Beach real estate, Hermosa Beach real estate, Redondo Beach real estate, Torrance real estate, Palos Verdes real estate trends, and real estate trends throughout the Beach Cities, Palos Verdes Estates and the South Bay, visit www.homeispalosverdes.com 

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George Fotion
Call Realty Company
(310) 346-6467
gfotion@emailtreo.com

Palos Verdes Homes | Staging your home for maximum sale price

Palos Verdes Homes | Staging Tips to Maximize your Sale Price

Meanwhile, to take advantage of other free real estate tools, please visit http://www.homeispalosverdes.com

 
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George Fotion
Call Realty Company
(310) 346-6467
gfotion@emailtreo.com

How to lose a Palos Verdes Home Buyer in 10 easy steps

 

GREAT ARTICLE!

10 Ways to Turn Off a Homebuyer

By Jay MacDonald | Bankrate.com –

What a difference a couple of years makes. Back in 2007, homebuyers would beg to purchase your house. They would even bid more than the asking price for the privilege to do so. Today … well, not so much. Once the real estate bubble burst and foreclosures poisoned the housing pool, buyers suddenly regained the upper hand. But instead of buying, they’re waiting, convinced that housing prices will continue to drop.

What’s a smart seller to do in this environment? We assembled a coast-to-coast SWAT team to address the crisis: Chad Goldwasser of Goldwasser Real Estate in Austin, Texas; Terry Cannon, a buyer’s agent and broker with Oregon Exclusive Buyers Realty in Salem, Ore.; and Julie Dana, the New York-based “home stylist” and co-author of “The Complete Idiot’s Guide to Staging Your Home to Sell.” They suggest 10 buyer turnoffs that sellers should avoid at all costs. “If you do all the staging correctly and have a good agent, the house will hopefully only be on the market a few weeks,” Dana says. “Then you can go back to living your life.”

1. Dirt Hands down, our panel agrees: Nothing turns off a buyer quicker than a dirty house. “The No. 1 biggest mistake is not getting the home in the best possible condition. That’s huge,” says Goldwasser. “I won’t even represent sellers at this point unless they are fully aware of how important it is to get their home in the absolute best condition that they’ve ever had it in.” Goldwasser recommends that sellers go the extra mile, from steam-cleaning tile and grout to replacing carpets. “If the carpets are old and smelly, you should put in new,” he says. “If they’re relatively new, you should at least have them shampooed.” Cannon agrees that grime can derail any showing. “The home should be neat and clean and free of all debris,” Cannon says. “If it reeks of cats or the kitchen sinks and counters are so filthy that it almost looks like the food is moving, I won’t even want to come in.”

2. Odors Buyers, it’s said, buy with their noses. Make sure your home smells fresh and inviting. “Odors are a big one, especially kitchen odors,” says Dana. “I advise my clients not to cook fried food, fish or greasy food while the house is on the market.” Some pet owners mistakenly believe pet smells to which they’ve become accustomed help make their abode homey. Nothing could be further from the truth. “If you’re a dog person, you tend to think everyone else is a dog person,” says Goldwasser. “But the truth is, 50 percent of the population hates dogs and doesn’t want to be near them. “Pets in the home? You have to deal with that.” Dana advises her clients to eliminate all traces of pets, not just pet odors. It’s important to get rid of pet paraphernalia and have a “pet plan” to make sure the animals are not around when the house is shown. “A lot of times, people will leave pet items out — dog dishes, cat litter boxes, etc.,” Dana says. “That immediately turns off a buyer because they wonder, ‘What has that animal done in the house?’ Also, some people really don’t like dogs. The minute they walk in and see this big, old dog bowl, they immediately won’t like the house.” The same rules hold true for smokers: Remove all ashtrays, clean all curtains and upholstery, and consider smoking outdoors while your home is on the market. “Interestingly, next to the kitchen, the smelliest room in the house is actually the living room,” Dana says. “That’s typically the room that has the most fabric, so that is where odors get absorbed.”

3. Old fixtures Want buyers to roll their eyes? Leave old fixtures on your doors and cabinets. “You need to change out old fixtures in your house,” Goldwasser says. “New cabinet hardware and doorknobs will probably cost all of $400 or $500, but it makes a huge difference.” The same holds true for dated ceiling fans, light fixtures and kitchen appliances. “Homes that have old fans, lights, ovens, microwaves, ranges and dishwashers can really turn a buyer off,” says Goldwasser. “Sellers will say, ‘Oh, the buyers can take care of that.’ Well, yes they can, but it’s going to impede you from getting the highest price possible for your home.”

4. Wallpaper Your grandmother may have had it in every bedroom. Your mom may have loved it as a room accent. But today’s buyer wants no part of wallpaper. “Wallpaper is a definite no-no,” Dana says. Wallpaper is a pain to remove and simply adds another chore to a buyer’s to-do list, Dana says. “Wallpaper is extremely personalized. You’ve spent hours looking over books to pick out the wallpaper you want,” she says. “What are the odds that the person walking in the door will also like that wallpaper that you picked out?”

5. Popcorn acoustic ceilings Times change, and with them home decor styles. Acoustic popcorn ceilings, once the must-have for fashionable homes in the ’60s and ’70s, now badly date your space. If you can’t stomach the cost or the mess to remove the overhead popcorn, be prepared to credit a buyer in certain markets in order to close a sale. “The popcorn acoustic ceiling is a major, major turnoff to buyers these days,” says Goldwasser.

6. Too many personal items Psychologically, when buyers tour a home, they’re trying it on to see how it fits, just as they would a skirt or a pair of pants. If your house is cluttered with too many personal items, it’s like the buyer is trying on those clothes with you still in them. A fit is unlikely. “Anything that makes your house scream ‘you’ is what you don’t want,” Dana says. “I tell all my clients that how we decorate to live and how we decorate to sell are different, and right now, we’re decorating to sell.” Sellers should try to eliminate personal items, including family photos, personal effects and even unique colors, she says. “As soon as you have family photos, buyers get very distracted. ‘Oh, did I go to school with him? What do their children look like?'” she says. “Suddenly, you’re selling your family, and you’re not selling the home.” If you really want to hook a buyer, Dana offers a tip: “I try to place a mirror strategically so that people can actually see themselves in the home, so they can actually picture themselves living there.”

7. Snoopy sellers Realtors and buyers alike generally bristle when the seller greets them at the door for a showing. “It’s so annoying,” Goldwasser says. “They will want to walk around with the potential buyer and put in their two cents’ worth. It’s not good. Normally, there are one out of 10 sellers where it’s OK to have them there, and that’s because they know what is up with the property and how everything works.” Goldwasser makes a point to shoo his sellers away from showings when he’s the listing agent. “They like to think they know what they’re doing, and that’s fine,” he says. “But when you’ve sold thousands of homes and you have a system, you know how to get people the maximum value for their home. That’s why they hire you, right?”

8. Misrepresenting your home Misrepresenting your house online in the multiple listing service is a sure way to really upset buyers and their Realtors. One of Cannon’s buyers loved a home she saw online. When he drove by to take a look, he was surprised to find acres of ramshackle mobile homes across the street. [Related: Worst Home Fixes for the Money] “Sellers are going to paint the best picture they can,” he says. “Some listings I’ve looked at and wondered how in the world they got that gorgeous photo without showing all the junk that’s around it. When you get there, you wonder why didn’t they just be upfront?”

9. Poor curb appeal Much is made of curb appeal, and for good reason: It’s your home’s handshake, the critical first impression that lasts with most buyers. “You have to totally trim and edge your yard to get it into the most immaculate condition you can,” Goldwasser says. “It’s a big mistake to not freshly mulch the beds and trim the trees. Every little detail counts. “To not power-wash the exterior or leave mud dauber and wasp and bird’s nests in your eaves and above your doors? You’ve got to be a fool to do that.”

10. Clutter Whether inside or out, less is more when it comes to clutter. “I usually start in the closets,” Dana says. “Your closets should be half-full with nothing on the floor. Why? Because most people looking for a house have outgrown their previous house. Showing them that you’ve still got room to grow gives them a reason to buy.” Kitchens and built-in bookshelves should showcase spaciousness by following the rule of three. For kitchens, there should be no more than three countertop appliances. Meanwhile, bookshelves should be divided into thirds: one-third books, one-third vases and pictures, and one-third empty. The home office should be very generic so any type of professional can imagine living there, Dana says. “Otherwise, it can be a distraction: ‘What does he do for a living? How much money does he make?'” she says. Dana’s tip for toddler parents is to pack away extraneous “kiddie litter” and keep a laundry basket handy. “When you get that phone call one hour before a showing, toss everything in that basket and take it to the car with you and your kids, and you’re all set,” she says.

 

DRE LIC # 785373


 
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George Fotion
Call Realty Company
(310) 346-6467
gfotion@emailtreo.com

Palos Verdes Real Estate Latest Trends

Is the Palos Verdes Homes Market & South Bay Real Estate Market Finally Turning Around?

First and foremost, I’ve learned long ago NOT to be in the “crystal ball” business.  So let me just report some facts

  1. Today, 4/8/2012, marks the 12th week in a row in which the ratio of pending sale volume (demand) to new listing volume (supply) was more than 50%*. 
  2. Charting this “absorption rate” shows us that there have been higher lows and higher highs for some time now

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* to put this number in perspective, at the peak of our market in the 4th quarter of 2006, the ratio was over 100%

This is just a small excerpt from one of the critical charts I keep that help me guide Palos Verdes home sellers to better price their homes so that they sell faster and for a higher net price.

  • How does the excerpt above compare to previous markets going back to the early ‘90s?
  • Would you like to learn more?
  • Would you like to have access to these charts?
  • Would you like to benefit from greater knowledge of the Palos Verdes real estate market and South Bay homes market in order to become a more powerful home owner, seller or buyer? … follow the link in the button below

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George Fotion
Call Realty Company
(310) 346-6467
gfotion@emailtreo.com

Palos Verdes Estates Homes – Rent or Buy

As Rents Climb Higher, Owning a Palos Verdes Home Gains Appeal

I was reading an interesting article in the Wall Street Journal today about how home ownership is once again regaining popularity.  You can read the full article by clicking on this picture below

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But it got me to thinking, “…Ok, so that’s what is happening on the national scale, what about here in town, is that translating to Palos Verdes homes?…”

Look what I discovered: To view a full size image, just click the image below.  I guess it’s time to buy a home in Palos Verdes Estates …

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Homes for sale in Palos Verdes Estates
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George Fotion
Call Realty Company
(310) 346-6467
gfotion@emailtreo.com