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Palisades Monthly Update - April 2015 04-30-2015

As of April 30th, there were 73 single-family Palisades residences listed in the Multiple Listing Service (M.L.S.), which is the same as this time last year.  So far this year 93 Palisades homes have sold, and there are now 49 homes in escrow in the Palisades.

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Palisades Monthly Update - February 2015 02-28-2015

As of February 28th, there were 72 single-family Palisades residences listed in the Multiple Listing Service (M.L.S.), which is 10 percent lower than at the start of 2015.  So far this year 32 Palisades homes have sold, and there are now 39 homes in escrow in the Palisades.

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Pacific Palisades Housing Market: New All-Time High Prices 02-01-2015

In line with nearly all Westside areas, Palisades home and condo values have just surpassed their previous highs of 2007-2008. Double-digit increases for the third year in a row have brought local home median prices above $2.5 million, and average price per square foot nearing $900.

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Palisades Monthly Update - January 2015 01-31-2015

As of January 31st, there were 59 single-family Palisades residences listed in the Multiple Listing Service (M.L.S.), which is 19 percent lower than at the start of 2014.  So far this year 14 Palisades homes have sold, and there are now 33 homes in escrow in the Palisades.

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The Riviera - Pacific Palisades' Most Prestigious Neighborhood 01-15-2015

The Riviera was created in 1926 as an exclusive community with European charm and Mediterranean-style estates within the area of the then Los Angeles Athletic Club. That club became the famous Riviera Country Club which once hosted horse shows and top-flight polo matches and now hosts the February Northern Trust Open on the PGA golf tour. This section of the Palisades preserves some of our most interesting and historical architecture. Known for gracious and scenic properties while enjoying close proximity to the Palisades Village, Brentwood and Santa Monica, the Riviera endures as one of the most desirable and expensive neighborhoods in Southern California. Most of the street names are Italian in origin, many being inspired by the area of the Amalfi Coast, south of Naples, where “the mountains meet the sea”.


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Palisades Housing Market Recovery 11-14-2014

There have been some dramatic price increases in many Palisades neighborhoods since the 2008-2011 market correction, especially in the lower price ranges in each area.


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Huntington Update 07-03-2014

The Huntington Palisades has seen a dramatic recovery in home values since the 2008-2011 market correction. Fueled by a steady increase in demand, prices have increased by approximately 50% in just three years.


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Tips For Sellers of "Teardowns" 05-01-2014

There are many misconceptions about selling a house that most people would consider a teardown. In the first place, a surprising number of potential buyers for such houses want to buy it as their own home. Although they may not be all-cash buyers like developers tend to be, often they are willing to pay a greater amount because the structure will be to actually live in. Also, they do not need to factor in necessary profits for an investment pay-off in a year or so.

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A Look At An Unprecedented Market 11-01-2013

Real estate prices in the Palisades have continued a steady and much stronger increase than could reasonably have been expected. Fueled by a historically low cost of money, the number of homes sold in 2013 is 20% greater than last year. This has resulted in prices being about 15% higher than last year.  As long as the number of homes available for sale is less than would be sold in 4-6 months, the upward pressure on prices is likely to continue.

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Local Home Prices at High Levels 04-05-2013

Is your home worth more now than it was 3-5 years ago? The correct answer is absolutely!

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Investor Buyer Impact 02-06-2013

As has become very evident, the number of local homes for sale is not nearly enough to meet the current demand. In fact, the inventory level is below four months at the current rate of sales, which indicates this to be a strong “seller’s market”. In last month’s article we reviewed the several reasons why the surprising shift from “buyer’s market” to “seller’s market” occurred.

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Pacific Palisades Housing Market: Looking Back... and Forward 01-04-2013

As we begin 2013, the number of homes available for sale in Pacific Palisades is as low as it has been since the end of 2004.  There are only 52 homes on the market, which is 28 percent less supply than at the beginning of last year.

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Home Appraisals Can Cause Sales Problems 11-29-2012

The local real estate market has been steadily improving since the beginning of 2012. However, it has also been experiencing increasing difficulties with appraisal and financing of the home purchases. Some of these issues are directly related to stringent lender guidelines, and many escrows are challenged by problems because of the appraisal process. The appraisal process is often slower than it used to be, which has delayed escrows beyond the closing date.

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Seller Alert: The Market Has Shifted 05-02-2012

For several months, the Westside real estate market has experienced a steady recovery with both average list and sales prices increasing by more than 4%. The inventory level of homes available has dropped significantly over the past year, resulting in increasing frustration for buyers who are well qualified but unable to find a suitable home.

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Definite Signs of an Improving Market 03-02-2012

A few weeks ago we observed there were some indications that the Palisades housing market may have begun to turn in favor of sellers. With the benefit of two complete months of home sales records available now, we are able to verify that indeed a market shift may be in progress. The number of sales for the first two months of 2012 were identical to the same period last year, but the time it has taken to sell them is 13% less this year.

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Third Quarter Market Analysis - October 2011 10-01-2011

As we enter the final quarter of 2011, and take a look at the Palisades market so far this year, some noteworthy observations can be made. There have been some recent articles in different publications that report “another dip in home prices due to high foreclosure rates and weak demand.” Another suggested that, “home prices in a majority of the nation’s largest metropolitan areas posted fresh lows” earlier this year, but that in many areas prices appeared to be somewhat more stable.

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Pacific Palisades Market Update- June 2011 06-15-2011

As of May 31st, there were 126 single-family Palisades residences listed in the Multiple Listing Service (M.L.S.), which is nine percent lower than this time last year. So far this year 91 Palisades homes have sold (which is four percent lower than this time last year), and there are now 48 homes in escrow in the Palisades.

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Santa Monica Housing Price Update 06-01-2011

As we approach the middle of 2011 it may be of interest to review where the Santa Monica local market is in both the condominium and single family marketplaces.

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Accomplishing a Successful Short Pay Sale: The Final Phases - Part 4 of 4 01-01-2011

Some real estate agents do not prefer to take the time to do the short sale negotiating themselves and hire a “third party negotiator”. There are several issues arising in this case, namely whether the third party negotiator is a California licensed real estate agent who is authorized to do such work and also whether they have signed an agency disclosure with the seller.

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Accomplishing a Successful Short Pay Sale: Procedures Involved - Part 3 of 4 12-01-2010

The key to successfully completing the process is to be both prepared and available to furnish whatever next documents or explanation letter the short sale negotiator or investor will require. This would be the time to put your property on the market. In order for you to accomplish your goal of short paying the loan balance, and especially if you are already in default on the loan, the property must be aggressively priced and marketed.

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