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I am glad to be posting back-to-back weekly blogs – albeit just barely. From my viewpoint, our real estate business is as busy as ever. And, while I see a light at the end of the tunnel to gain time back for consistent blogs, podcasts, and quarterly mailers, our clients are still moving fast…and we are keeping up. The blog and podcast will be back to its normal deep dive on local submarkets, along with big data that matters in the next week or two. There are super-hot topics in the local South Bay real estate market along with the national news. A lot of these headlines are serious and should not be taken lightly. So,
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Miss one blog post for the first time in five years, then the flood gates open failing to post another two posts back-to-back. It has been that busy for our team thanks to this incredible South Bay real estate market. To my faithful weekly readers: Please accept my apologies on the missed blogs. We are getting back on track this week! As you know, I have committed to reporting on the Housing Affordability Index (HAI) every quarter until further notice since my August 2021 post: “California Housing Affordability Index Might Be Flashing Warning Signs” While the first warning sign back almost a year ago might have been a false alarm, the next upcoming quarters will likely
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The hottest topic in residential real estate right now: Interest Rates! It is such a trending topic that not only did I devote a full post to it last week, but also I am also writing a redux for this week! There is a lot to unpack from a data standpoint, along with anecdotal evidence and my own subjective opinion. If you missed last week’s post, I suggest you read it here: “Interest Rates are Surging; Is the South Bay Home Market Set to Cool?” This will allow you to more deeply understand how interest rates have affected California real estate prices in the past. Spoiler Alert – Below is a quick Cliffs Notes from last
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About every two to three years, the home market’s most trending topic is interest rates. This has happened every couple of years in recent memory because home mortgage rates have moved up or down significantly, which in turn affects buyer’s payments in a meaningful way. If you know me, I predictably get annoyed hearing radio advertisements from lenders, local Realtors making commentary, and anyone else who has not done their homework. It goes like this: Rising Rate Environment: “Interest rates are rising; hurry up and buy before they go even higher!” Falling Rate Environment: “Rates are falling to lows; hurry up and buy before they go up!” It frustrates the heck out of me because interest
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The first quarter numbers for 2022 are here and I am excited to share them with you. This is one of the most incredible home markets real estate professionals have seen in the South Bay. The insatiable demand for homes, rising prices, and few homes for sale make for one of the greatest seller markets of all-time. What is so exciting about finally getting to Q1 of 2022 is that we are officially past “easy comps” from 2020 where market statistics were whacky thanks to a novel virus and stay-at-home orders. Today’s blog gets to explore Q1 of 2022 versus Q1 of 2021, which is a tough set of comparables. Any strength beyond 2021’s numbers will
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For the first time over the better part of six years, I missed a weekly real estate blog post. I am quite confident that no one cares! But, this weekly blog is something that I am proudly committed to for my business, where I can offer free insight that digs deeper into the nuances of the South Bay home market. On two occasions over the past six years, readers received an announcement of the birth of a son, but outside of that, it was all real estate related, each and every week for just about six years straight. Weddings, honeymoon, vacations be damned – a blog must be done! I consider myself lucky enough to have
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With the NCAA Basketball Tournament officially underway this week, I thought about how much this market feels like “March Madness” to many agents and their clients. Just to give you a sense of what the market is like out there, look at some home sales that officially closed this past week: Rancho Palos Verdes 30033 Avenida Celestial, Rancho Palos Verdes 4 beds, 3 baths, 2,383 sq. ft., 14,735 sq. ft. lot Asking Price: $2,000,000 Closing Price: $2,353,000 (+$353,000) 7240 Crest Road, Rancho Palos Verdes 4 beds, 5 baths, 3,180 sq. ft., 11,332 sq. ft. lot Asking Price: $2,399,000 Closing Price: $2,720,000 (+$321,000) 10 Crestwind, Rancho Palos Verdes 4 beds, 4 baths, 3,513 sq. ft., 21,354 sq.
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The South Bay real estate market continues to be in one of the hottest times agents have seen in ages, if not ever. From Palos Verdes to Manhattan Beach, buyers are fighting surging prices and too little inventory. For this week’s post, I am going to get back into a micro market analysis like I used to do regularly before the pandemic. The focus will be on a pocket in the Manhattan Beach Sand Section that I have covered before. Not only will it demonstrate how slower markets are catching fire, but it will also feature a client’s new listing. Ultimately, it will be a good exercise to demonstrate market dynamics and give some nice press
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In a real estate market heavily tilted in favor of sellers, buyers need to get creative to find affordable deals in real estate. Almost always, first-time home buyers are the ones who have it the toughest. First-time home buyers typically have less to put down, require higher leverage and have little experience on how to pursue or underwrite real estate. However, the advantage that these buyers often possess is the willingness to be flexible. So, how can one be flexible to give themselves an advantage? The answer is plain and simple: Beach City Income Property. Due to the expensive nature of South Bay real estate, rarely do income properties by the beach pencil from a cash
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If you are a regular reader, then you know that I have committed to reporting on the California Association of Realtors (C.A.R.’s) Housing Affordability Index every quarter. In my opinion, there is no greater predictor of future prices throughout the state of California. I’ve reported on the Housing Affordability Index (HAI) since the beginning of this weekly blog dating all the way back to 2015, but only recently have I committed to the quarterly report after seeing what looks to be a warning sign in the past 2021 Q2 report. For reference, please look at that August 2021 post here: “California Housing Affordability Index Might Be Flashing Warning Signs” Below is the new C.A.R. Q4 number
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