There’s no question the real estate market has traversed some peaks and troughs during the past decade. If you recall, prices were on a steep incline ten years ago in 2005. Alas, all good things must end, and the real estate joy ride of rising prices was no exception. The plummet began in 2008 and continued until the beginning of 2012 when, by my calculations, prices bottomed out and bounced back with amazing speed. 2013 was the year of double-digit gains (Rancho Palos Verdes price gains were just below 20%), with stabilization reached in 2014. That’s a short synopsis of a very turbulent decade in Southern California real estate.
Where are we now, and what is my home worth? These are important questions for every homeowner, or those who are posed to enter the real estate market. The end of the year (2014) reports are expecting gains of roughly six to seven percent for 2014 and forecasting more modest gains of around three percent for 2015. It appears the real estate “ride” is on a more level track for the moment, but expect that to change if interest rates begin edging upward as predicted.
Check out our maps showing Rancho Palos Verdes homes currently for sale and those sold during the past year in the various neighborhoods in Rancho Palos Verdes. For a more detailed and accurate assessment of the value of your property we welcome the opportunity to tour your home and provide an opinion of value based on location, view, condition, and other determiners of value in the current market.
– Norma Toering, Broker at Charlemagne Intl Properties
Rancho Palos Verdes Homes for Sale:
RPV Homes Recently Sold: