Palos Verdes Luxury Homes and Estates Report for February 2017

PVE Luxury Home View

There are currently 49 Palos Verdes luxury homes for sale priced at or over $3,000,000.

Where are these high-end homes located? Here is the location breakdown by the city:

Palos Verdes Estates:  20

Rancho Palos Verdes:  14

Rolling Hills:  13

Palos Verdes Peninsula (the unincorporated areas of the Palos Verdes Peninsula): 1

Rolling Hills Estates:  1

11 Palos Verdes luxury homes are in escrow with accepted offers.

Five Palos Verdes high-end homes sold YTD in 2017.

For more information on the Palos Verdes luxury home market contact Norma@CharlemagneProperties.com or 310.493.8333

Palos Verdes Luxury Home Market Update for January 2017

The Palos Verdes luxury home market begins the year with thirty-nine single-family homes for sale priced over $3,000,000.  Sixteen of those luxury residences are located in Palos Verdes Estates. Rolling Hills has twelve high-end properties on the market, Rancho Palos Verdes has nine single-family properties in the category, and Rolling Hills Estates has two luxury homes for sale over $3,000,000.

Eleven Palos Verdes luxury homes are currently in escrow with accepted offers.

56 Palos Verdes luxury properties sold during 2016. 

Given the number of high-end homes on the active market and the rate of absorption, there is a four-month supply of luxury homes for sale in Palos Verdes. It will be interesting to see if the uptick in interest rates affect luxury home sales. My prediction is we will see a flurry of buyer activity in all price ranges during the first quarter of 2017 as they attempt to "beat" any additional planned rate hikes.

With nearly forty homes to choose from, higher prices, and an interest rate hike, sellers can expect buyers to be selective and exhibit high expectations when purchasing a luxury home in the $3,000,000 and up price range.  The well-prepared home, priced right and presented in its best light will win buyers' hearts when they are in the market to purchase a Palos Verdes luxury home.

For more information or help with selling or buying a Palos Verdes luxury property contact me at 310.493.8333 or email Norma@CharlemagneProperties.com

My most recent testimonial (See more on Zillow):

Highly likely to recommend  

• Local knowledge: 5 Stars
• Process expertise: 5 Stars
• Responsiveness: 5 Stars
• Negotiation skills: 5 Stars

Norma was referred to us by a good friend who was very satisfied with the service she provided in the purchase of his new home. When we first met with Norma, we were very impressed with her knowledge of the local housing market and her professionalism. As a result, we contracted with her to sell our property. Norma staged our home with her own decorator pieces to make the home more attractive to buyers. She held her first Open House a couple of days later and attracted close to 20 potential buyers .. this was the result of her smart advertising through various sources. We had several solid offers, and our house sold within the first week of listing. Norma kept us informed of the progress daily. In our 44 years of buying and selling 14 homes in Hawaii, Washington, and California, we have never had a real estate agent/broker as skilled and effective as Norma. She is positive, productive and such a joy to work with. I would select her over any other agent I have known and highly recommend her to friends and family. She sets the bar all other realtors should aspire to...

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