We've endured some brutal weather in Southern California during the final days of August. Yesterday I showed property in 105 degree heat, and the air was tinged with the smell of smoke from the recent wildfires. I smiled as I opened up the house and waited for my clients to arrive--okay, I also wiped sweat from my brow and sipped lukewarm water as I waited; it takes a dedicated and serious buyer to venture out in triple digit heat. Summer's winding down but the market is heating up.
As summer draws to a close I see:
Continued downward pressure on prices, but sales are on the increase.
Open house attendance is on the rise. Buyers are curious; they want to know what's available and what their housing dollar will buy in today's new market.
Prospective buyers are beginning to notice yard signs again. Buyers are driving through neighborhoods of interest. Does your property capture them from the curb?
I'm no longer wondering whether the battery in my cell phone is dead! I'm also happy to report the majority of the calls are no longer telemarketers.
Casual lookers are becoming serious house hunters. Lower prices and pent-up demand are driving entry level sales in my area.
Sellers are aligning asking price with market value. It takes a couple years for the reality of a falling market to work its way through the marketplace. When list price is in line with market value an offer soon follows.
It may be the dog days of summer but I feel a new burst of energy as I negotiate offers, shepherd sales through escrow, show and list property and in general have a to do list of more real estate tasks than I can possibly hope to accomplish in one day. Gosh, my career is fun and rewarding again, and I'm pleased to share good news with buyers and sellers once again.
The fourth quarter of the year is often my best quarter, and given the current market conditions I expect the remainder of 2009 will be no exception. As a matter of fact, I'm really looking forward to making some great things happen as the year winds down and the real estate market heats up.
Previous Palos Verdes and San Pedro Market Reports
Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800
PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.
South Bay Los Angeles cities I sell real estate, property, houses 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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