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We are just around the corner from starting a new decade. Time sure does fly! With the past 10 years in mind, I thought I would share the data on the best and worst performing real estate submarkets covered in my weekly South Bay blog. Those areas covered weekly are the Palos Verdes Hill, Manhattan Beach, Redondo Beach, and Hermosa Beach. Those cities have submarkets defined by the multiple listing service (MLS), which are 33 unique areas to be precise. That is why you hear definitions of areas like “the Sand Section,” “Monte Malaga,” and “Golden Hills,” to name a few. Best Performing Markets of the Decade Below is the list of the best performing markets
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The Palos Verdes Peninsula is known for its single-family homes and suburban location. Prices here in many cases can be more affordable than the beach cities, but it is still not cheap! If you are looking to make a move to Palos Verdes but do not need the larger single-family home just yet, the condo listings throughout The Hill present HUGE value relative to single-family home prices in the area. There are condo options at a fraction of the cost to homes on the Hill and these can be a great starter option for buyers on a budget looking for a lot of bang for their buck. Rolling Hills Estates Condos Rolling Hills Estates has the
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Rancho Palos Verdes Property Auction A new probate sale at 5965 Peacock Ridge Road #201 in Rancho Palos Verdes was listed this week asking $395,000 (way below value). The auction will be held on Sunday, May 20th at 10 a.m. with an open house this Saturday and final views before the auction. We do not see a lot of these auctions in Palos Verdes but perhaps a little history can give you an indication of what results we can expect. Auction History If you read my blog “South Redondo Real Estate Auction Gone Wild,” then you might have an idea of what is to come. As noted in that past blog, not only did the underpriced
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