Portions of the Palos Verdes real estate market are seeing falling prices. Last month, I penned a post on the Rancho Palos Verdes submarket, Los Verdes, succumbing to depreciating prices. I explored two similar homes on the same street that demonstrated a $200,000 drop in price or a 15% fall from a previous sale just six months ago. It looks as if that was not a one-time thing. We are now seeing price declines in the condo market – another sign of weakening strength in a P.V. market that over-performed during COVID. This week I am sharing additional examples of the depreciating prices in the Palos Verdes condo market. Lunada Bay (PVE) Condo Weakness First up is
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Month: November 2022
We hope all our readers had a wonderful Thanksgiving holiday filled with family, friends, and football (fútbol too – World Cup!!!). Happy Black Friday! While it is becoming an outdated retail holiday and Cyber Monday is taking over, I think it is fun to share some “Black Friday” South Bay real estate deals you should consider as we head into the slowest time in our markets. It also is one of the best times for deal-making. This year I am going to share a sweet home deal and a possible income property deal in the beach cities of Hermosa and Redondo Beach. Let’s get to it so you can get back to eating leftovers. Hermosa Beach Condo
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The California Association of Realtors quietly announced their third quarter Housing Affordability Index. While affordability eased in this newly released report (California homes got more affordable), there is still cause for concern if looking at real estate purely through the affordability lens. As many readers know, I have committed to covering C.A.R.’s Housing Affordability Index results each quarter because of its unique calculations that help forecast where California home prices may go. Thanks to quickly growing prices and surging interest rates, California homes have seen affordability drop precipitously over the past 12 months. While there are plenty of factors used to determine the health or general direction of the real estate market – for instance, median
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As we approach the end of the 2022, I am excited to share my year-end blogs. Some of the topics you can come to expect are: If you are a South Bay real estate enthusiast, I hope you will join me in all my platforms to close out the year. My goal is to help you hit the ground running in 2023. I want to switch it up this week and talk about a section of the market that I rarely, if ever, cover on the weekly blog — commercial real estate! South Bay Commercial Property First and foremost, I am not a commercial real estate agent. If you know me, then you understand I am
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If you have been following my newly reimagined Instagram page, then you know I am working to share more on-camera real estate tips, strategies, and data. This weekly blog allows me to share market happenings and insights in a different way from Instagram, much like I can vocalize unique stories and strategies on my podcast. Different platforms allow different forms of real estate content. Last week I posted advice on Instagram that I would like to elaborate on this week for my blog readers. The first topic is for those of you thinking of selling, while the second topic is for all you savvy buyers contemplating whether or not an income property is the right decision
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