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Why Leases Continue to Dominate the Palisades Market and Risks in a Changing Market

The real estate market in Pacific Palisades has undergone significant changes, with home sales dropping by almost 20% and a sharp increase in leasing activity. This shift raises critical questions about the future of the market, including whether it now favors buyers, given lower sales prices and higher interest rates. However, the leasing market remains strong despite the larger inventory, and several factors continue to limit the number of homes available for sale. As interest rates potentially moderate through 2024, the market may see more balanced activity, though the future of leasing prices remains uncertain.

Real Estate News

Risks in a Changing Market: Adapting Strategies for a Transforming Real Estate Landscape

Navigating the ever-evolving landscape of real estate demands astute observation and strategic planning, especially as indicators point toward an impending shift in the market. As we near the turn of the year, subtle yet significant changes are surfacing—a rise in inventory accompanied by a slower pace of sales, dwindling multiple offers, and increased renegotiations during escrow.

Real Estate News

New Wildfire Disclosure Report

In Pacific Palisades, a region classified as a Very High Fire Hazard Severity Zone, the threat of wildfires looms large. Residents are continually encouraged to take proactive measures to safeguard their properties. Earlier this year, local fire department personnel conducted assessments of properties in brush areas, identifying those with excessive vegetation and urging owners to comply with clearance regulations. To address the need for a more systematic approach to assess property-specific wildfire risks, a groundbreaking tool called the “Wildfire Disclosure Report” has been introduced.

Preparing a Home for Sale

How To Prepare A Home For Sale

My experience has shown that a home will sell sooner and for more money if it is properly prepared. And most homes do not require remodeling or paying $20,000 to have professional “staging.”

Cost of Selling a House

Who Pays For What In A Residential Real Estate Transaction

We are often asked by both sellers and potential buyers what the various expenses are in the process of their sale or purchase of a home. The following is a summary of the traditional distribution of expenses associated with these transactions.

Guide to Buying a Home

Buying a Home

How Much House Can I Afford, Really?

Figuring out how much house you can afford doesn’t have to be rocket science. Here are some smart tips to help you buy a home within your budget.

Buying a Home

Tips For A Smooth Purchase Process for Home Buyers

Of course, there are occasional situations where a home has been purchased at a great price. However, as many disappointed buyers will attest, at least as of the beginning of August, we are still in a “seller’s market.” Many active buyers today falsely assume that this is a “buyer’s market”, and that they will be able to negotiate much lower than the listed price.

Senior Lifestyle Options

Downsizing & Rightsizing

Timing the Move for Seniors

This is the fifth in a series of articles in answer to requests for more informational help with “downsizing” issues for seniors. The focus here is on considerations about the timing of a move.