In preparation for an upcoming listing appointment, I'm delving into the statistical archives of sales in the gated community of Rolling Hills. The little gated city is nonpareil in the greater Los Angeles area. There are miles of riding and hiking trails, ocean and city views, gorgeous equestrian estates and lots begin at one acre and go up.
Price is not the issue; sales volume is. While prices continue upward, sales have slowed dramatically.
Rolling Hills sales 2002 - 2007 (as of 12/13/2007):
2002: 32 Closed Sales
2003: 24 Closed Sales
2004: 25 Closed Sales
2005: 24 Closed Sales
2006: 20 Closed Sales
2007: 16 Closed Sales
2007 sales are down 50% compared to 2002 sales. Prime properties continue to sell; the most recent sale in Rolling Hills closed at $12,900,000. My message to my sellers will be:
1. Prepare the Property 2. Price it Competitively 3. Have Patience
Sellers, you cannot control the market, but you must make sure your property shows off its best assets. If trees are blocking the view, trim them and add instant value. An exterior coat of paint will ramp up the curb appeal. Removing excess clutter and furniture will change the way a buyer views the flow and space of the interior. Capture the buyer's heart, make the price irresistible, and you may be signing an offer sooner than expected.
Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800
South Bay Los Angeles cities I sell real estate and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach.
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