December 2013

Palos Verdes Luxury Leases

By | December 31st, 2013|Front Page, Palos Verdes, Palos Verdes Homes for Rent, Palos Verdes Luxury Homes|

One of our clients is looking for a single family home to rent after selling his current property.   While looking for his criteria, we prepared this summary of the luxury PV lease market. Homes for Lease for $5,000 or more in Palos Verdes by city: Palos Verdes Estates: 3 Rolling Hills: 1 Rolling Hills Estates: 1 Palos Verdes Peninsula: 1 Rancho Palos Verdes: 11 The most expensive rental on the market is an 18,000 sq.ft. estate in the Monte Malaga area of Palos Verdes Estates.  It includes 7 bedrooms, 9 bathrooms, a regulation size tennis court, 2 bowling alleys, pool, 5 [...]

Harbor City Income Property

By | December 31st, 2013|Front Page, Income Property|

Harbor City is popular with first time income property buyers for its affordable prices compared to other parts of the South Bay.  As part of Los Angeles, it has the same rent control rules. Harbor City units statistics for 2013 year end: Available buildings: 4 Properties are for sale from $425,000 to $1,300,000. Pending sales: 2 Buildings are in escrow priced from $355,000 to $459,000. Harbor City sales: 12 Buildings sold in 2013 from $281,999 to $860,000.  The average price was $483,000.  The average year built was 1952.  One third of the transfers in 2013 were distressed sales as either bank-owned or underwater loans. [...]

Dollars in the Details – Selling Your Home

By | December 30th, 2013|Beach Cities, Front Page, Los Angeles Luxury Homes, Palos Verdes, Palos Verdes Estates, Palos Verdes Peninsula, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates, San Pedro, Seller Tip, Torrance|

Listing your home in 2014? Congratulations, you've decided 2014 is the year to sell your home.  The big reveal is circled on the calendar and work is underway in preparation for your home's big day.  Soon, a parade of real estate agents and their prospective buyer will parade and prance through the halls and rooms of your once private abode with thoughts of who they will show and sell it to, or whether this is the one house they will call home.  It's up to you and your agent to make the most of this chance to impress agents and buyers. [...]

Lomita Income Property – Dec 2013

By | December 30th, 2013|Front Page, Income Property, Los Angeles|

Lomita rental units stats wrapping up 2013: Available buildings: 8 Properties are for sale from $580,000 to $1,150,000. Pending sales: 4 Buildings are in escrow priced from $549,000 to $999,000. Lomita sales: 18 Buildings sold in 2013 from $350,000 to $2,725,000.  The average price was $708,000.  The average year built was 1945. Lomita income property building types (2013 Sales): Duplex - 61% Triplex - 22% Fourplex - 6% 5-8 Units - 6% 8+ Units - 5% Total unit value sold in Lomita in 2013: $12,750,000 Average gross rent multiplier for Lomita 2013: 13.7 Lomita unit cap rate for 2013 at 75% [...]

Take a Hike–Palos Verdes Lifestyle

By | December 30th, 2013|An Agent's Life, Buyer Tip, Front Page, Inspiration, Lifestyle in Palos Verdes, Los Angeles Luxury Homes, Palos Verdes, Palos Verdes Luxury Homes, Palos Verdes Peninsula, Palos Verdes View Homes, Rancho Palos Verdes|

I'll be the first to admit if you're in search of an active nightlife, Palos Verdes is not the place to find it.  However, despair not, as all you must do to find it is drop off "The Hill" and hug the coast.  Once you hit Pacific Coast Highway you'll find the beach cities awake and hopping. On the other hand, if you're in need of a daily dose of peace and serenity--a little rejuvenation for the soul, I can think of few places better than settling down in one of the most striking, naturally beautiful places along the Southern [...]

Redondo Beach Income Property – Dec 2013

By | December 29th, 2013|Beach Cities, Front Page, Income Property, Redondo Beach|

  Redondo Beach has been very active for income property buyers in 2013.  In representing our investor clients this year, we found multiple offers to be the norm.  The premium buildings by location or income potential drew maximum interest. Available units: 4 Buildings priced from $800,000 to $1,649,000. Pending sales: 6 Buildings priced from $679,000 to $3,300,000. Sold in 2013: 34 Buildings sold from $697,125 to $2,606,000.  The average price was $1,150,000. The average year built for units in Redondo was 1958 and it took an average of 51 days to sell.   There were no distressed income property sales in Redondo in 2013.   75% [...]

Wilmington Income Property – December 2013

By | December 29th, 2013|Front Page, Income Property|

Wilmington had a busy year in income property sales and activity.  This harbor area city is popular with first time income property buyers for its affordable prices compared to other parts of the South Bay.  As part of Los Angeles, it has the same rent control rules. Available units in Wilmington: 14 Buildings priced from $250,000 to $4.79M In escrow: 6 Buildings priced from $220,000 to $1.25M Sold in 2013: 39 Buildings with an average sale price of $416,000.  They ranged from $110,000 to $1,150,000 Distressed property sales were noted on one third of Wilmington's unit sales.  The 2013 records [...]

2014 Real Estate Predictions

By | December 27th, 2013|Beach Cities, Buyer Tip, Front Page, Hermosa Beach, Manhattan Beach, Palos Verdes, Palos Verdes Estates, Palos Verdes Luxury Homes, Rancho Palos Verdes, Redondo Beach, Rolling Hills, Rolling Hills Estates, San Pedro, Seller Tip|

No, I do not have a crystal ball or have the innate ability to see into the future, but if the recent past is the best indicator of short-term future directions, I think I have an intelligent inkling of the real estate paths we will travel during the next 12 months. 1. Price increases will slow. There is no way the market can sustain annual price increases of 20% or more. 2013 was Southern California's real estate comeback year.  2014 will be the "Return to Normalcy" year. Enough of the double-digit price increases--eight is a good number and that's my [...]

A Business Plan for Selling Your Home

By | December 26th, 2013|Front Page, Hermosa Beach Luxury Homes, Los Angeles Luxury Homes, Manhattan Beach Luxury Homes, Palos Verdes Luxury Homes, Redondo Beach|

Your home is probably one of the most valuable assets in your investment portfolio.  When the time arrives to move up, or scale down, it makes solid financial sense to develop a written business plan for selling your house.  After all, time spent planning and preparing before the sale often delivers huge rewards. The Decision to Sell:  Life events are the usual indicators of when it is time to sell a property.  Once the decision is made or if you're undecided about the timing, it's never too early to consult the professional in your life.  A call to an accountant [...]

Palos Verdes Lifestyle – Bare Feet in December

By | December 23rd, 2013|An Agent's Life, Front Page, Lifestyle in Palos Verdes, Palos Verdes|

I checked the five day weather forecast for Rancho Palos Verdes today.  Christmas Day is predicted to bless us with a high of 79 degrees.  I'm revamping my Christmas Day attire and checking my closet for something more temperature appropriate.  Now, what did I do with that red sundress? There is something very inviting about bare feet at the beach in December.  If you would like more information about life on the Palos Verdes Peninsula, contact me at 310.493.8333.