It’s Still Location, Location, Location

When we buy a new home, we can remodel the inside, put in new landscaping and so on, but we can’t move the house to a new location. Therefore, we should try to find a home in the best location. Some of the factors in the search should be: Finding a home where the other homes are well-maintained. Finding a property that is known for having good schools. Locating a home that does not have aggravating noises and people constantly hanging out on the street corner. Avoiding a house on a busy street and trying to find one that is located near streets that lead to your place of employment with the least hassle.

When we purchase our home, the location was great. The schools were good; it was close to work; the homes in the neighborhood were well-maintained. The house itself had some problems. A real no-no was the fact that to get to one of the bedrooms, one had to walk through another bedroom. The kitchen was narrow and there was only a narrow place to put a table. We waited for a year or so after buying the house and then started our improvements. We created a hallway so that bedroom could be reached without going through the other; we built out the kitchen and created a beautiful kitchen eating area. We refinished the hardwood floors; we repainted; we upgraded the bathrooms; we built out the master bedroom and more.

My advice is to avoid looking at homes in inferior neighborhoods and also, not to avoid purchasing a home that may need improvements…as long as it’s in a good location.

Rent Control-No Pros, Only Cons

Another city in Los Angeles County is aiming to put rent control ordinances into effect and I wonder what is going through the minds of people to even consider them.  When an owner cannot rent his property for an amount that the market will bear, he may just be hesitant to improve his property or even simply maintain his property.  Therefore, before you know it, the area will become rundown and not a good place to live.  If the owner decides to sell the property, the price he will be able to get will be less than before rent control.  Rent control is theft, pure and simple.

 

3rd Quarter Closed Sales in Palos Verdes

According to the Multiple Listing Service, there were 207 closed sales of single family residences in the cities of the Palos Verdes Peninsula (Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, and Rolling Hills Estates) and the unincorporated area of Palos Verdes Peninsula during the third quarter of 2017.  The sales prices ranged from $615,000 to $9,250,000.  The average sales price was $1,695,038 after an average of 41 days on the market.

There were 55 closed sales of condominiums and townhouses.  The sales prices ranged from $265,000 to $2,800,000.  The average sales price was $785,544 after an average of 37 days on the market.

Please contact me if you have any questions and for a complimentary market evaluation of your home:

310-703-1931

katie@katiemuck.com

If You Want the Best Real Estate Financing…

If you are planning to purchase a new home or would like to refinance, contact Mike Giltner,  Loan Originator of Wintrust Mortgage.  I have known him for many years and he has arranged financing for my clients and for me, personally.  You will not be disappointed!

 

Mike Giltner
Loan Originator
NMLS# 322053
22939 Hawthorne Blvd, Ste. 103
Torrance, CA 90505
Mobile:310-971-1856
Office:310-541-0300
MGiltner@WintrustMortgage.com
www.MikeGiltner.com
Wintrust Mortgage

1st Quarter Closed Sales in Palos Verdes

According to the Multiple Listing Service, there were 130 closed sales of single family residences in the cities of the Palos Verdes Peninsula (Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, and Rolling Hills Estates) and the unincorporated area of Palos Verdes Peninsula during the first quarter of 2017. The sales prices ranged from $640,000 to $13,840,000. The average sales price was $1,808,441 after an average of 67 days on the market.

There were 35 closed sales of condominiums and townhouses. The sales prices ranged from $240,000 to $1,310,000. The average sales price was $627,533 after an average of 52 days on the market.

Contact me today for a complimentary market evaluation of your home:
310-703-1931
katie@katiemuck.com

A Brief Suggestion for Those Looking at Houses to Buy

When I show homes to potential buyers, I notice that I am always looking up toward the ceiling in the rooms. I often notice evidence of leaks. It dawned on me that when buyers are viewing homes, if they are couples, one should be looking up, as I do, but the other should be looking down. That way, any potential problems with the property should be detected.