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The week leading up to the Fourth of July holiday is almost always a slow time for the housing market. Last year was an exception to the rule due to pandemic madness, but this year’s 2021 Independence Day might start to revert to the mean of more moderate action. And, while the hot housing market might take a pause for a week or two, there was some huge news out of Sacramento this week worth taking note. For this week’s post, I will touch on the two topics below: Important legal updates coming out of the State Capitol (and Washington, D.C. too). Scoring a potential 4th of July deal in the South Bay home market. Important
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The ultra-luxury home market seems to be as strong as ever in the South Bay. I normally do not write about this upper part of the market too often because, quite frankly, there is not too much action to speak about. But during these extraordinary times, you just cannot overlook the strength and the increasing sales. In February, I wrote about ultra-luxury homes beginning 2021 on a strong note in my blog titled, “Ultra-Luxury South Bay Home Sales Start Year Strong in 2021.” In April, I wrote about the growth in both sales and price on the Hermosa Beach Strand market in my post titled, “Hermosa Beach Strand Home Prices Making a Comeback.” And, I have
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Unless you have been living under a rock, you know that low interest rates and the Coronavirus pandemic have driven insatiable demand for housing. Specifically, homes with more space, yards, and farther away from cities. In our South Bay home marketplace, no area best suites the above needs more than the Palos Verdes Peninsula. And, while Rancho Palos Verdes, Rolling Hills Estates, and “Behind the Gates” in Rolling Hills all fit the bill, I am going to focus on the city of Palos Verdes Estates (PVE) this week. For those of you not as familiar with Palos Verdes Estates, there are four main real estate submarkets (with of course, many more pockets within) called Lunada Bay,
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It is amazing how quickly the world changes. In 2020, I had an idea for a running “live series” about how I was approaching some of my very own investment deals. Since January 1 of 2020, the world and the real estate market has had one wild ride up then down, and back up again. Major moves have occurred, and, they have happened fast. As things have changed rapidly, my perspectives and real estate opinions have changed with it. And, much faster than I could have ever imagined from when the pandemic was in its infancy. A few quotes that I want to highlight: Malcolm Gladwell: “I feel I change my mind all the time. And
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After the long holiday weekend, the South Bay is seeing a nice pop of inventory this week. I hope this is a new trend that continues, but this week alone cannot be trusted post-Memorial Day weekend. Many sellers will delay their listing to enjoy their time off, so this might just be a week to catch up on new listings. We will be watching future weeks to see if this is truly a trend. With the new inventory, there are some great options that debuted this week, and while I would love to share all the options, there are a few I need to keep close to the vest due to client tours this weekend. That
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