Time Works Its Magic on Rolling Hills Homes Values

 

 

 

What buyer, of any product, does not want to make a smart and savvy purchase?  Whether you're purchasing lipstick online because the same brand costs less on Amazon than it does at CVS (as I did this week), or you are making a multi-million dollar property purchase in Rolling Hills, there are few things higher on the satisfaction scale than knowing you made a savvy purchase.  But how do you know at the time it is the right thing to do?

 

 

 

 

 

 

The art of the real estate deal, in Donald Trump speak, is a cauldron mix of part science (sale statistics), part art (comparing apples and oranges takes a certain amount of finesse and market knowledge) and a dose of gamble (future value predictions are a mix of research and hoping current economic conditions don't waver excessively). Plus, let's not forget the unpredictability of Mother Nature.

 

 

When a buyer wants to ensure a decision to purchase is based on a solid foundation a review of historical sales is a good starting point.  An agent can quote percentage increases or decreases as was the case during the recession years, but the power of seeing it in black and white will add unquestionable weight to support the words.

 

 

Just for the fun of it let's look at time's effect on a few Rolling Hills property sales for 2014-2016:

2003 Sale price:  $3,220,000                    2014 Sale price:  $4,500,000

2002 Sale price:  $1,550,000                    2014 Sale price:   $2,438,500

1996 Sale price:   $1,269,000                     2014 Sale price:  $5,000,000

1989 Sale price:   $1,575,000                     2014 Sale price:  $6,650,000

1987 Sale price:   $1,925,000                     2015 Sale price:  $4,000,000

2004 Sale price:  $1,755,000                    2015 Sale price:   $4,500,000

2000 Sale price:  $2,179,000                    2015 Sale price:   $4,450,000

2010 Sale price:   $1,700,000                    2016 Sale price:  $5,200,000

2000 Sale price:  $3,747,500                    2016 Sale price:   $7,300,000

A quick glance reveals a buy and hold strategy is a wise one when it comes to Rolling Hills properties. These sale numbers do not consider any improvements made to the property.
Although a Rolling Hills property's primary purpose may be to provide shelter, over time it can provide not only an enviable lifestyle for family living but a solid return on investment as well.

Norma (310) 493-8333.  For more information about Rolling Hills properties, or to arrange your private showings call me or email Norma@CharlemagneProperties.com

Palos Verdes CA Real Estate Market Update--December 2016

The Palos Verdes housing market is ending the year still entrenched in a sellers" market. Inventory remains low and demand is strong. At the current rate of absorption, and without additional new inventory to replace the sold properties, there is less than a two-month supply of homes for sale in Palos Verdes.

There are currently 166 single family homes for sale.  91 properties are in escrow with accepted offers, and year-to-date 641 Palos Verdes single family homes have sold.

 

 

A video posted by Norma Toering (@normatoering) on Dec 6, 2016 at 11:04am PST

Thank for your 2016 readership, your business, and referrals.  I wish you and your family a happy holiday season and a prosperous 2017. Please keep me in mind if you have real estate questions or needs in the New Year. Let's work together to make 2017 a fabulous year for your real estate portfolio.

What's an Agent's Value to a Seller or a Buyer?

As we enter the last month of 2016, my thoughts are turning to how I can better serve my clients in 2017. Over the years it has become apparent there are a plethora of ways an agent can enhance their clients' well-being in financial matters as well as from an emotional point of view.

Let's face it selling a house is stressful even under the best of circumstances. Preparing a property to go on the market can take weeks of planning and work if not months. There are so many decisions to make--should you paint, replace the carpet, refinished the wood floors or even delve into remodeling the kitchen and a bath or two.  The exterior landscaping must be assessed.  The local real estate market must be studied and marketing a property is an ongoing 24/7 job in this Age of Social Media. Selling a house can tax both the wallet and nerves of prospective sellers.

Preparing a property for sale is one of the most valuable services a real estate professional can provide. Deciding what improvements will enhance the sale price and attract buyers is critical. Pricing the property "right" is the key to finding qualified buyers and not languishing on the market for many months. Many sellers know what online sites say their property is worth, but those "experts" have never stepped inside your house. They know nothing about the interior condition or even the view, or if there is a view. They are using a formula, and there are lots of unknowns in their equation. The value they give is at best an educated guess. Sometimes they are fairly accurate; sometimes they miss by a million. It's not a quote you can trust enough to offer your valuable asset for sale at their suggested price. You need a local real estate professional to help you pinpoint the price.

Your agent's negotiating skills can either add to your side of the balance sheet or subtract dollars from your pocket. The more familiar your agent is with recent sales (and the condition of those properties) the more beneficial her knowledge will be to you. By the time closing day arrives most agents have earned their commission several times over by putting their market knowledge and experience to work for you.

Here are two recent case histories to prove my point. A client was torn between selling her house "As Is" or painting it top to bottom, replacing carpeting and having it professionally staged. The neighborhood justified making the improvements.  Although it took two months, the difference to the seller was a net gain of more than 10%.

Keeping tabs on the local real estate market is crucial for top representation and overall market knowledge. I've tracked the market for many years with my Little Yellow Dot Market Snapshots.

In the second case, I represented the buyer. We negotiated hard on the price but offered excellent terms.  After an extended period of negotiating the buyer purchased the property for $200,000 below the asking price. An experienced agent knows when to push and when to pull back and give the other party a reason to accept an offer, and that's a very valuable ability to have on your side of the negotiating table.

Call me at 310.493.8333 or email Norma@CharlemagneProperties.com for more information on maximizing your property and your profits.

Where Are the Most Expensive Luxury Homes in Rancho Palos Verdes?

Rancho Palos Verdes has some of the most exquisite coastal views on the entire Palos Verdes Peninsula.  The weather on the south side of Palos Verdes is reputed to be the most favorable on the entire peninsula. There's a reason the Palos Verdes Drive South neighborhood has become the resort side of the hill--views and weather are two critical factors.

Many of the most expensive luxury homes in Rancho Palos Verdes are located in the Palos Verdes Drive South and Palos Verdes Drive West areas.  PVDS has The Estates at Trump National, Terranea Resort with its vacation homes, and a plethora of large estates that hover in the hills or hug the coastline.  PVDW's coast is dominated by the Oceanfront Estates development at the intersection of Hawthorne Blvd. and PVDW. Marguerite Drive is tucked below the Drive near the border with Palos Verdes Estates and possesses some of the most desirable up close and personal oceanfront properties on the Palos Verdes Peninsula.

Most Expensive Luxury Homes in Rancho Palos Verdes:

15 Luxury Estates priced at or above $3,000,000 are currently for sale in Rancho Palos Verdes.  Eleven of these properties are located in either the PVDS or PVDW neighborhoods.  The other four high-end properties are scattered throughout Rancho Palos Verdes with two in the PVDE area.  The remaining two are on Yellow Brick Road and  Cartier Drive.

For more information regarding selling or purchasing a Rancho Palos Verdes luxury home contact Norma Toering at 310.493.8333 or Norma@CharlemagneProperties.com

Palos Verdes Coastal Homes Market Report--November 2016

Oops, it happened again.  The number of available Palos Verdes single-family homes for sale dropped below 200. The shrinking supply pushed the market toward an even stronger sellers' market. Similar market trends apply to the Beach Cities real estate market as well.  Low inventory has become our new normal. At the current rate of absorption, Palos Verdes has less than two months of available inventory and the Beach Cities has just over six weeks, yes weeks, unless new listings are added.

Palos Verdes Real Estate Market Report for Single-Family Homes:

187 Palos Verdes single family homes are for sale.

102 Single-family properties are under contract with accepted offers.

584 Palos Verdes single-family residences closed escrow YTD.

Beach Cities Single-Family Homes Real Estate Market Report for November 2016:

140 Single-family homes are for sale in the Beach Cities of Manhattan, Hermosa, and Redondo.

87 Beach Cities single-family residences are under contract with accepted offers.

674 Single-family sold

When Is the Best Time of Year to Sell My Palos Verdes House?

 

Seller's Tip: No Need to Wait for Spring to List Your Home, This is Southern California!

 

 

 

Leave the winter mindset behind, after all, this is Southern California.  The freezing temperatures and snowy slopes are tucked away in the mountain resorts, and our coastal area is enjoying some very balmy Los Angeles days of 70+ degrees.  January or June, it does not really matter when you elect to place your property on the market in Southern California.





The timing of your sale is all about you, your schedule, your plans, and needs.  One of the advantages of living in Southern California is your decision to list and sell does not have to be based on the weather or the calendar.  Photos rarely reveal the season, buyers search for homes all year and the worst weather we have to contend with is a rainy day now and then. Although we would love to have a few more days and weeks of wet weather to end the prolonged drought.

One condition you may want to check before you list your property for sale is the local real estate climate.  Market conditions will have a far greater impact on the sale of your property than local weather conditions.







For more information on the local real estate market in your neighborhood contact me at 310.493.8333 and I will provide a free market update tailored to your specific property.

Coastal Homes for Sale in Rancho Palos Verdes CA

I enjoy taking sunrise walks along the Palos Verdes coastline. Yesterday, by the time I reached the new luxury homes in various states of construction at The Estates at Trump National in Rancho Palos Verdes the sun was illuminating the row of new luxury homes, and I could not help but reach for my iPhone to capture the photo.

Per the Multiple Listing Service information, there are currently two homes for sale priced at $4,299,000 and $5,499,000 at The Estates at Trump National, and two residences in escrow, each priced at $4,499,000, with accepted offers. Records show one sale of $3,600,000 in the past six months for a luxury home on Emerald View Drive. After a slow start in 2005 and coping with the recession and housing market crisis, it appears sales are picking up at Trump National.

The coastal region of Rancho Palos Verdes has several areas of luxury properties with amazing ocean views.  However, The Estates at Trump National is one of the few places with lots for sale and also offering new construction for sale. The Palos Verdes Drive South area of Rancho Palos Verdes has become the resort side of the Palos Verdes Peninsula with both Trump National Golf Course and Terranea Resort. Real Estate in the area is benefiting from both additions to the Rancho Palos Verdes landscape.

For more information about luxury properties in Rancho Palos Verdes as well as all other areas on the Palos Verdes Peninsula contact Norma@CharlemagneProperties.com or NormaToering@gmail.com. You may call direct at 310.493.8333 with your real estate questions, wants, and needs. It will be my pleasure to share my knowledge of the area and years of experience in representing buyers and sellers with their Palos Verdes real estate transactions since 1992.

Palos Verdes Luxury Home Market Report Oct. 2016

There's some pleasant news for Palos Verdes luxury homeowners, especially those who have their single family residence for sale, the high-end housing market in Palos Verdes picked up a little steam after languishing during the final months of summer. Supply is still outstripping demand and tipping the balance toward a buyers' market, but Palos Verdes luxury homes continue to sell.

Note the "Little Yellow Dot" on our market snapshot slider for Palos Verdes and the Beach Cities is moving toward the left, after a couple of month of sliding toward a market favoring buyers. The luxury home market in the Beach Cities remains vibrant, and the high-end home market in Palos Verdes is moving back into neutral territory with a more balanced market favoring neither sellers nor buyers.

PVE Luxury Home View

Palos Verdes Luxury Home Report for October 2016:

There are 55 Palos Verdes luxury homes priced at or above $3,000,000.

13 Palos Verdes luxury residences are in escrow with accepted offers.

43 Luxury homes in Palos Verdes priced above $3,000,000 sold year-to-date.

For more information about Palos Verdes luxury homes contact Norma@CharlemagneProperties.com or call me at 310.493.8333.  It will be my please to represent you in the sale of your property or assist you in finding the perfect Palos Verdes luxury residence for you.

Palos Verdes Homes Price Range by City

Yesterday, while out and about on the Tuesday Tour of new listings I previewed single family homes for sale in Lunada Bay, Malaga Cove, and Palos Verdes Drive South. Those Tuesday Tours always remind me there is a wide variety of homes available for sale.  Just for fun, here is the highest and lowered priced single family homes for sale in each of the four cities located on the Palos Verdes Peninsula.

Palos Verdes Estates:

Lowest Price:  3428 Palos Verdes Drive North is a new listing in the Valmonte neighborhood of Palos Verdes Estates.  Better hurry at $1,150,000 this is the lowest price of any single family home currently for sale in PVE.

Highest Price:  There are currently three Palos Verdes Estates single family homes for sale priced over $10,000,000 but 705 Via La Cuesta's price tag of $28,000,000 is the highest priced PVE home on the market. The property has been on the market for over 200 days, but it has some amazing perks included in the price. I've toured the property, and very few Palos Verdes luxury homes can compare with the view, the grounds and the house.

Rancho Palos Verdes:

Lowest Price:  There are ten Rancho Palos Verdes single family homes for sale priced under $1,000,000. 2148 Dorado Drive is a fixer (maybe that should be in all caps) priced at $658,900. I don't know the "back story" on this property, but it appears the interior is in a state of partial remodel.

Highest Price:  3300 Palos Verdes Drive West is currently on the market with an asking price of $9,800,000. The coastal gated estate is approaching 800 days on the market.  I snapped some of my favorite luxury home photos from the windows of this villa.

Rolling Hills Estates:

Lowest Price:  4716 Rockbluff with a list price of $1,099,950 sports the lowest price for a single family home in Rolling Hills Estates.  The three-bedroom house shows over 100 days on the market.

Highest Price:  22 Hidden Valley Road with an asking price of $3,995,000 is currently the most expensive single family home on the market in RHE. The home has been on the market over 100 days.  The property includes a guest house and a salt water pool. Yes, I've previewed this luxury home as well.

Rolling Hills:

Highest Price:  1 Buggy Whip is not only the most expensive home listed for sale in Rolling Hills, but it is also the most expensive residence on the Palos Verdes Peninsula.  I spent an hour at the property and am sure there are still areas of the over 50,000 sq. ft. estate I did not see. The property is listed for $48,000,000.

Lowest Price:  23 Chuckwagon offers an opportunity to remodel a classic Rolling Hills ranch-style residence.  Asking price is $2,450,000. I see lots of potential in this one.

For more information on values and availability of properties on the Palos Verdes Peninsula give me a call.  I stay abreast of the ever-changing real estate market to help my sellers sell at the highest price the market will bear, and my buyers to purchase at the lowest price the market will permit.