What is happening in the Housing Market?

What is happening in the Housing Market?

Marshallfield - front

Recently, an article in Housing Newsletters caught my eye when it was discussing the reasons that housing has room to run. In Palos Verdes and the South Bay, prices seem to be increasing or holding their own when it comes to the market. As seen in my market surveys the market is still moving forward. Here are some of the tips that the article was stating.

Rates seem to be doing more rising than falling recently. In some areas home sales have been leveling off, but that also could be because of time of year. One of the first pieces of evidence was in the form of Friday’s Consumer Price Index CPI. This important inflation report has had a big impact on interest rates in 2017. If this data suggests that the Fed needs to hike rates faster or slower, the bond markets will quickly adjust to account for the shift in expectations.

At the end of 2016 the Fed felt that they could continue to hike rates due to the strong labor market and policies associated with the new administration. However, while continuing to hike rates inflation hasn’t risen to the Feds defense. In fact, inflation is trying to hold the line.

The sharp drop to recent lows is why the rates haven’t moved higher as forecaster predicted. Actually analysts expected inflation to begin lifting off from the lows citing the impact from higher fuel prices due to the hurricane season. While they did rise abruptly, other price measurements offset the fuel effect making the reading lower than expected.

The good new about low inflation is that it does help rates. Even the stock market doesn’t mind the news. Mostly they were already drifting higher due to reports earlier in the week. In focusing only on rates, good things area happening  with the inflation data helping to reinforce a bigger ceiling around 2.4% in terms of 10 yr Treasury yield which is the most followed benchmark for longer term rates such as mortgages..

Housing magazine this past week discussed mortgage lending guidelines, which could end up being twice as loose as they are now and that could bring us back in like with historical healthy levels.This would help bring more potential buyers into the market from the guideline changes .

Another interesting piece of the report from CoreLogic was the comparison of the current housing boom/bust cycle to past examples.  In many areas prices still haven’t crested to pre-crisis levels, which means there is more room to run. This does vary from market to market, but the bottom line is that some of the price appreciation that has been seen in the past 5 years has to do with how hard we fell at the start of the crisis.

Photo courtesy of the MLS.

 

If you have any questions about the real estate market, or if you are interested in selling or purchasing residential or commercial property please feel free to contact me.

 

 

Palos Verdes 2017 Market Data Report 3rd Quarter YTD

Palos Verdes 2017 Market Data Report 3rd Quarter YTD

Marketing 3rd QtrPalos Verdes 2017 Market Data Report shows an increase in sales in all neighborhoods from 2016.

Currently, Mira Catalina has posted the largest gain in average sales price for Palos Verdes homes at 64%, followed by Monte Malaga at 37.5% and Lunada Bay at 15%. Lunada Bay posted the largest number of Palos Verdes homes sold to date in 2017 at 80, compared to 57 homes in 2016.

For more information on the Palos Verdes & Harbor Market Intelligence Report click here.

Gorgeous Country Hills Home For Lease!

Gorgeous Country Hills Home For Lease 

My new lease listing is a gorgeous remodeled 2 story home located in the desirable Country Hills community for only $3,650/month. This lovely home has 3 good size bedrooms & 3 baths with additional space for an office. Enjoy a vaulted ceiling living room with fireplace, beautiful kitchen with granite counter tops which opens to a cozy family room. All new bedroom doors and closet doors. Private back yard with a nice patio. Award winning south Torrance schools, and great restaurants and shops in Hillside Village. You can also walk to the nearby De Portola Park.

If you have any questions about the property, or you wish to schedule a showing please contact me at (310) 686-4688.

Photo courtesy of the CRMLS.

 

Palos Verdes Condo Lease Reduced!

Palos Verdes Condo Lease Reduced!

Just reduced, my condo lease listing at 3605 Hidden Lane #202, in Rolling Hills Estates. Offered now at only $2280/month, you will find that this is the best priced condo unit currently available in this area on the Multiple Listing Service.

This unit is 2 bedrooms/2 baths, and is 951 square feet. It has a remodeled kitchen and bath with newer carpet. It is located in a wonderful condominium complex, with a swimming pool, spa, tennis court and much more.

Contact me for more information at www.tubasellspv.com.

Photo courtesy of the CRMLS.

Palos Verdes Quarterly Sales Report April – June 2017

Palos Verdes Quarterly Sales Report April – June 2017

Enrose - front

Palos Verdes real estate market has increased in the first six months of the year, with sales price and average square foot prices increasing.The overall area markets seem to be feeling the same movement with interest rates still low, and first time buyers getting the sticker price shock.

RE/MAX Estate Properties has put out an actual closed sales price report for Westside sales, South Bay sales, Palos Verdes and Harbor areas sales. To read more on each of these area statistics click here.

Above is my listing at 28623 N. Enrose Ave, Rancho Palos Verdes. This gorgeous home is in move in condition with 3 bedrooms/2 baths and 1,856 square feet. it has been remodeled with an open concept floor plan and new wood flooring throughout. It features a gorgeous kitchen with granite counter tops, stainless steel appliances and a large center island. With two fireplaces, and a large formal dining room this is a perfect home for entertaining. Come by my Open House this weekend on Saturday or Sunday from 1 – 4 p.m.

 

 

Charming Rancho Palos Verdes Home Open Saturday 1:00 – 5:00 p.m.

Charming Rancho Palos Verdes Home Open Saturday 1:00 – 5:00 p.m.

Enrose - front

This charming 3 bedroom, 2 bath, 1,856 square foot home, is located at 28623 N. Enrose Avenue in Rancho Palos Verdes. It is now on the market for only $948,800,   and I’m sure will not be on the market long. This home features an open concept, a remodeled kitchen with granite counters and large center island. The house has fireplaces located in both the living room, and the family room. There is also an additional room that can be used as an office or formal dining room.

This home is close to shopping, restaurants and the freeway. It is also within the Palos Verdes award winning school system.

This beautiful home will be held open this Saturday from 1:00 – 5:00 p.m.

To see the Virtual Tour of the property click here.

For more information on this property contact Tuba Ghannadi at (310) 686-4688.

Gorgeous Palos Verdes Home for Lease!

Gorgeous Palos Verdes Home for Lease!

29132 Warnick Road,

This gorgeous Palos Verdes homes is now availabe for lease for only $4300/month. Located at 29132 Warnick Road, Rancho Palos Verdes,  in the Los Verdes neightborhood, this 4 bedroom, 2 bath, 2,247 square foot home is move in ready for it’s new family.

This home has a modern floor plan and has been nicely removated. It’s remodeled kitchen and baths have been tastefully done. It has an open floor plan and soaring vaulted ceilings, with floor to ceiling glass windows and new wide plant white oak distressed floors on the main level. There is also a newly remodeled stacked stone fireplace which adds to the comfortable style of the home plus a gigantic great room. Upstairs there is a partial ocean view from some of the bedrooms, and the master retreat has a remodeled bath.

This is definitely a perfect family home with it’s landscaped backyard and patio to relax and entertain in. It is located close to parks and the Peninsula Center.

This lovely home will definitely go fast. Please call Tuba at (310) 686-4688 for a private showing.

Palos Verdes Investors Dream Home!

Palos Verdes Investors Dream Home!

Verde Ridge Picture

Located in Rancho Palos Verdes, my new listing at 6781 Verde Ridge Road, has panoramic ocean and coastline views, and just came on the market today. This 5 bedroom, 4 bath, almost 2,800 square foot home is listed for only $1,398,000. Walking to the local park, and the elementary school is easy. Enjoy the homes formal living and dining rooms. The house has an extra large 2 car garage, views from almost all rooms, and most bedrooms have walk-in closets.You can also relax in the flat t backyard area where the views go for miles.

If you are interested in seeing this home, it will be on Broker’s Open House today (Tuesday) from 11:00 to 1:00 p.m. 

Beautiful Palos Verdes Townhome!

Beautiful Palos Verdes Townhome!

37 Oaktree Lane, RHE - View

Located in the City of Rolling Hills Estates, my new listing is a beautifully remodeled townhouse with over 2,184 square feet of living space for only $899,000. This lovely home features sparkling city lights views and is located in the popular 24 hour guard gated community of “The Terraces”. Close to award winning Ridgecrest Junior High School, Peninsula High School and Peninsula shopping centers it is located on a private & quiet cul de sac. Upgrades include remodeled kitchen with granite counters, stainless steel appliances. All three remodeled baths, wood floors throughout, smooth ceilings with recessed lighting, crown mouldings and more. Spacious wooden deck off dining and breakfast room overlooking tennis courts.HOA amenities include Pools, Spas, Tennis Courts, Club House and Greenbelt.  Tax record shows this the property as a 3 bedroom, but currently has 2 bedrooms and a den, with a spacious master bedroom that includes his & hers walk in closets & sitting area.Tastefully remodeled master bathroom with granite counters, and remodeled downstairs guest bathroom. New recessed lighting in kitchen & master bath. It also includes an entry hall chandelier, dining room chandelier and a replaced wooden pation deck and new roof.  All remodeling was done within the last 10 years.

For more information about this property please visit www.tubasellspv.com.

 

 

 

 

Palos Verdes Peninsula – Neighborhood Sales for 2016

Palos Verdes Peninsula – Neighborhood Sales for 2016

Palos Verdes real estate 2016 sales information

Palos Verdes neighborhoods sold home prices for 2016, are listed above in the statistics data sheet. This information is received though CRMLS solds criteria.

West Palos Verdes had the largest gain in average sale prices with Malaga Cove coming in second. Malaga Cove and Valmonte posted the largest gains in average square foot prices

Lunada Bay had the largest number of Palos Verdes homes sold.

The highest priced single family Palos Verdes home sold for $11,940,000 in Palos Verdes Estates, and the lowest priced home sold for $610,000 in the Eastview/Palos Verdes area.

Above chart courtesy of RE/MAX Estate Properties