The competition is keen for entry level homes in Palos Verdes. It is not surprising parents want top-rated schools for their children, and year after year the Palos Verdes Unified Schools appear on a variety of "best" lists. There is not doubt about it---the demand for the PV schools keeps steady pressure on the supply of entry-level homes in Palos Verdes.
Location plays a lead role in determining real estate value, and the stunning hilltop coastal location of the Palos Verdes Peninsula is often breathtaking and always valuable. This makes the land underneath the entry-level homes pricey. A three bedroom house often has a million dollar price tag.
Yesterday I showed Palos Verdes homes priced under $900,000 and was impressed with the variety and availability. However, from an original show list of seven homes, two went under contract before my buyer could tour them.
There are dozens of multi-million dollar homes to choose from, but only a few under one million dollars. The competition can be fierce so be prepared to change your approach when buying a home in an area and price range where the supply is limited and the demand is high.
A few small changes in your offer may increase your success rate. If you have identified the house you want to purchase make sure the offer you write reflects cooperation, flexibility and consideration for the seller's needs. If you want to close in 30 days, but the sellers need 60 days, that's an easy way to score cooperation points and still win the prize.
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.
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Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333
PalosVerdesLifestyle- Norma's award winning site as the best Palos Verdes homes and real estate blog since 2007. Selected by Relocation.com as one of the top ten Los Angeles area real estate blogs. Chosen by MovingCost.com as one of the best Los Angeles realty blogs. Awarded 5 out of 5 stars by Lender411 blog review. 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. Based on information from the Association of REALTORS®/Multiple Listing as of the initial date of this article/blog publication and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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Good point. Give a little where you can.
Eric -- Thanks. Giving a little often pays off big!
Norma, I just have to say if this isn't the perfect example of how real estate is local, I don't know what is. In my market, first time homebuyer pricing is under $300-$350, yet yours is under $900. BIG difference! Glad to hear it's picking up!
Colleen - No argument from me on that point--real estate is extremely local.
Norma, the way you've descrived Palos Verdes, I'm not at all surprised that people are anxious to buy there. It looks totally gorgeous!