Not just for Palos Verdes Homes …
It’s happening throughout the country and this is good for the housing market as people moving from one area to the other are causing the market to pull itself up from its bootstraps (as the old saying goes) Here’s an excerpt from RealtorMag, one of the trade journals I subscribe to. “…While sales of newly built single-family homes is on the rise, buyers are finding fewer choices as inventory sinks to a new record low, the Commerce Department reported Thursday….” You can read the full article by going to this link, and judge for yourself how it effects homes for sale in Palos Verdes.Meanwhile … take a look… Look, I don’t what tomorrow will bring … will higher interest rates and a continuing poor job market turn these positives into negatives? Will these positive trends continue? I don’t know. What I do know is what’s going on now … and “now” is some of the best times we’ve seen in a long, long time to be a seller. If you’re interested in getting an audit for what the supply/demand picture looks like for your home and neighborhood, let me know and we can discuss, confidentially, if this is a good time for you to sell your Palos Verdes home. |
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Tag Archives: palos verdes estates homes for sale
Homes for sale in Rancho Palos Verdes near Trump National & Terranea
“Beauty and the Beast”The author of this article I ready today about the landslide area in Portuguese Bend, Rolling Hills etc couldn’t have named the article any better. This is an area that is one of the most beautiful areas between Santa Barbara and San Diego and while many areas within the South side of the Peninsula are “safe” from movement, including perhaps Zone 2 sections of Portuguese Bend (you can read more here … http://www.facebook.com/permalink.php?story_fbid=225573987477111&id=126283734095981), the landslide areas have kept this section of town one of the most tranquil and beautiful in all of California. There really is a silver lining to every cloud! And I know that many people are detrimentally effected (past, present and future); I’m very sensitive to this. That being said, I hope you can enjoy and appreciate the “Beauty” within this “Beast”. Let me add – Portuguese Bend is an area in which my wife and I have aspired to own a home for a long, long time … whether in the slide zone (contact me regarding mitigating strategies) or not … I can only describe it the way Ray Liota and Kevin Costner did in “Field of Dreams” … “Is this Heaven? No it’s Portuguese Bend!” … well Costner said Iowa, but you catch my drift … Palos Verdes homes for sale on the South Side of the Palos Verdes Peninsula |
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When NOT to list your home for sale in Palos Verdes
For more information on just one of the hi-tech venues in which I market my seller’s homes, just visit the link profiled in the yellow tab below.
Meanwhile, who do you know that is looking to move in, out or around the South Bay – your referrals will ALWAYS be cherished! |
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For Palos Verdes Home Buyers
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Palos Verdes Real Estate Website
What’s happening with www.homeispalosverdes.com?
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 JOIN ME ON FACEBOOK and follow me on Twitter! DRE LIC # 785373
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Home Prices in Palos Verdes Estates
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as originally published at http://realestatemarbles.com/homeispalosverdes/2012/08/02/palos-verdes-estates-home-sale-prices/ | |||||||||||||||||||||||||
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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 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. 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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Something to do in Palos Verdes this Summer!
Something to do in Palos Verdes this Summer!Concert Series At TerraneaSummer is almost here! That means tons of fun in the sun and live music at Nelson’s! Join us at Terranea’s oceanfront gastropub, Nelson’s, for their Summer Concert Series kick off event happening May 25th. Check out the 2012 line-up below: Nelson’s Summer Concert Series 2012 Line Up: May 25th The Repeat Offenders with Food From the Sausage Kitchen All buffets will be from 5pm-9pm. There are three holiday buffets on Sundays. They include Memorial Day, Fathers Day and Labor Day Sausage Kitchen $19 * Taste of India $26 * All American $24 * O Sol Mi $24 * Mongolian BBQ $24 * South of the Border $19 * Taste of Savannah $24 * Bourbon Street Seafood $26 |
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Palos Verdes Real Estate Market Influenced By International Buyers
Do International Buyers effect the Palos Verdes Homes Market?Due to low prices and the relative weakness of the dollar, international buyers continue to identify the U.S. as a desirable place to own property and make a profitable investment. According to the National Association of REALTORS®’ 2012 Profile of International Home Buying Activity, total residential international sales in the U.S. for the past year ending March 2012 equaled $82.4 billion, up from $66.4 billion in 2011. Total international sales were evenly split between non-resident foreigners and recent immigrants. The survey asked REALTORS® to report their international business activity within the U.S. for the 12 months ending March 2012. “Today’s advantageous market conditions have drawn more and more foreign buyers to the U.S. in recent years, signaling how desirable and profitable owning property in this country can be,” said NAR President Moe Veissi, broker-owner of Veissi & Associates, Inc. in Miami, Fla. “Low housing prices, a good inventory condition and increased buying power with today’s exchange rates help attract international clients. Foreign buyers also have the advantage of working with a REALTOR®. REALTORS® who specialize in serving international clientele have a truly global perspective; they know what hurdles foreign buyers face when purchasing property in the U.S., and have the expertise and knowledge that comes from working with clients from different cultures and real estate practices.” International buyers bought homes throughout the country, but four states accounted for 51 percent of the purchases – Florida, California, Texas and Arizona. Florida has been the fastest growing destination of choice, accounting for 26 percent of foreign purchases. California was second with 11 percent and Texas and Arizona accounted for seven percent. Proximity to the home country, the presence of relatives and friends, the convenience of air transportation, and climate and location are all important considerations to prospective foreign buyers. Locations on the East Coast generally attract European buyers, while Asian buyers tend to purchase on the West Coast, particularly California. Florida attracts a diverse set of international buyers including South Americans, Europeans and Canadians. Meanwhile, Texas remains popular among Mexican buyers. Within markets in an individual state, it is not unusual to find concentrations of people grouped by nationality. “Foreign buyers recognize that owning a home in the U.S. has many benefits, both financial and social,” said Veissi. “Many purchase property as an investment, vacation home, or to diversify their portfolio. In addition, many recent immigrants view homeownership as an important accomplishment. They believe that being a homeowner is one of many ways they become established in the U.S. and attain stability, security, and a sense of community.” International buyers came from all over the globe, but Canada, China (The People’s Republic of China including Hong Kong), Mexico, India, and the United Kingdom accounted for 55 percent of all international transactions (continue below to see local Palos Verdes Homes results), according to the survey. Canada and China remain the fastest-growing home countries. Canada accounted for 24 percent of international sales while China accounted for 11 percent, up from nine percent in 2011. Mexico was third with eight percent of sales and India and the U.K. both accounted for six percent. Forty-five percent of international purchases were under $250,000. In addition, there appears to be a gradual increasing trend toward purchases in the $250,000 to $500,000 price range. In 2012 this range accounted for 30 percent of purchases, up from 28 percent in 2011. The average price paid by an international buyer was $400,000 compared to the overall U.S. average of $212,000. Several reasons account for why the average international home price is higher than the average overall price. The international client is typically wealthier than the domestic buyer and is looking for a property in a specialized niche, for example, a larger property suitable for multi-generational living, or a property that establishes the individual’s presence and standing in the community. Many homes purchased by foreign buyers are used as a primary residence. Vacation and rental use are also major reasons for a purchase. More than half – 66 percent – of survey respondents reported international buyers purchased detached single-family homes. About half of international buyers, 52 percent, preferred to buy in a suburban area and about a quarter, 23 percent, bought in a central city/urban area. Sixty-two percent of international purchases were all cash, which has increased since 2007. International buyers still experience many financing challenges when purchasing a home in the U.S. In fact, among transactions that failed, REALTORS® reported that in 26 percent of the cases financing issues were the problem. The difficulties facing foreign buyers in trying to obtain a mortgage include lack of U.S.-based credit history and hurdles in meeting mortgage requirements. Other reasons for not purchasing properties were cost/taxes/insurance and immigration laws. Twenty-seven percent of REALTORS® reported having worked with international clients this year. Fifty-two percent of REALTORS® reported that international transactions accounted for one to 10 percent of their total transactions, while 27 percent reported that they made up more than 10 percent of total transactions. REALTORS® specialization on the buyer’s side of the market – such as foreign language capabilities, cultural affinity or orientation with the prospective purchaser and experience in explaining the U.S. real estate – appear to be important in working with foreign buyers. So when it comes to Palos Verdes real estate, is there a way to track international buyers? In fact there is*; reviewing the websites where I’ve recently promoted and sold one of my clients homes, I discovered the following … *If your Realtor does not know how to do this, you’re missing a big part of successfully getting your home marketed to sale. You’re welcome to contact me for more information I’m finding that most popular are the Palos Verdes Homes with Ocean Views … like this one… However, no matter what type of home you have, contact me to get (1) an objective opinion on what the market is likely to pay for your home AND (2) get more ideas on how to best get your home marketed (such as marketing to the international buyers) for top dollar in an efficient time period. Even folks that already have an agent, find it good common business sense to meet with me so that they can capture those two benefits. I’m here to help.
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Whether you own Palos Verdes real estate or not, here’s a tool to check your voter registration
Are you registered to vote? Are you sure?…14% of Americans, according to this group, think they’re registered to vote, but they are not. That’s about 33 million folks here in the United States. You can use this free “Voter Lookup” tool to make sure you are registered to vote. Click the image below to confirm you are properly registered to vote. |
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DRE # 785373 |
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