We Have Moved to http://www.KellyandLaura.com – Please Visit Us!

To everyone out there in real estate blog space – we have moved our blog site to http://www.KellyandLaura.com

Please Visit us there from now on – thank you so much!

Sincerely, Kelly & Laura

Here’s one of the Greatest Descriptions Ever

As you can only imagine, we see a lot of great property descriptions in our business.  There are the typical ones, charming, cozy, all original, etc….

But now I’ve heard it all when I read this the other day – actually I was thinking “now there’s a good one that I am going to file away for future use!”  (hee, hee..)  Here it is…..“unhampered by customizations that you may not want.”   I love it!  Now we went to go see this house that was “unhampered” and I’ll tell you, it was not bad.  Great pool in sunny front courtyard on a nice quiet street in Rolling Hills Estates (90274 – get your kids in the PV school system!) and yes, the house needs some work, but for $1,049,000 what do you want!   Here’s the picture of “unhampered.”

Pricing Properly is Key!

There are many marketing tools in a realtor’s arsenal to get a house sold but the best one and most important one is Pricing!  Everyone wants to sell their house for “top dollar” – everyone!  The job of  realtor who is really doing their job is to price it right.  Here in the Hollywood Riviera homes that are priced right and in top showing condition sell quickly and some in “multiple offers.”  Yes, I said multiple offers.  They still exist and there is no getting one on an “overpriced listing.”  If a buyer is not even interested in the house – if their agent isn’t telling their buyer this is a good deal – then they are certainly not going to spend an “extra” $10K – $30K.  Now get more than one party interested in the house and you’ve got the right atmosphere for more of an “auction” if you will. 

We believe in “staging” a home to get people really excited about a home’s potential – it’s funny, even though a buyer is not buying the furnishings/accessories, if it’s shown with really great stuff they can somehow see themselves in the house.  Often if you create the right mood – people will want to buy the house for the lifestyle it offers.   People want “move in condition” these days.  They want to feel like they got a house that was “wanted” by others – it is perceived to have more value that way.  This is part of the key to pricing – create value! This is an idea of “setting the mood.”  What a great house with a great view…it was completely staged and really looked amazing!

A seller wants to sell their house for $1.4K and a buyer wants to buy a house for $1.399K – it’s perceived as a lower price although it sure is close.  The retail stores of the world know this and use it almost exclusively. 

The LepraBunny – Did You Know?

Did you know you would have to be 95 years old to have celebrated St. Patrick’s Day and Easter in the same month?

You might be interested in this Trivia: The date of this coming Easter is quite early this year:

Easter is always the 1st Sunday after the 1st Full Moon after the Spring Equinox (which is March 20th.)  This dating of Easter is based on the lunar calendar that Hebrew people used to identify Passover, which is why it moves around on our Roman calendar.  Here’s the interesting info.  This year is the earliest Easter any of us will ever see the rest of our lives!  And only the most elderly of our population have ever seen it this early (95 years old or above!)  And none of us have ever, or will ever, see it a day earlier!  Here’s the facts:
    1) The next time Easter will be this early (March 23) will be the year 2228 (220 years from now.)  The last time it was this early was 1913 (so if you’re 95 or older, you are the only ones that were around for that.)
    2) The next time it will be a day earlier, March 22, will be in the year 2285 (277 years from now.)  The last time it was on March 22 was 1818.  So, no one alive today will ever see it any earlier than this year!

Riviera Village – Some Great New Hot Spots There!

  Have you been to the Riviera Village lately?  There are some cool new hot spots there.  Food wise – Creme de la Crepe  just opened near Hennesseys.  It’s a cool french crepe store and the waiters are really french.  The guy who helped us the other day was just learning english, but that didn’t hinder his good spirits – we had great service.  We brought our own wine and they corked it for us…not a bad corkage fee.  We had dinner crepes and dessert crepes.  The dessert crepes were my favorite.  The place was packed – I would recommend a reservation.  They always seem to have a crowd a breakfast time too.  The Riviera Village really needed a place like this.  I am awaiting yet another new eatery that is supposed to be european in nature where the old Redondo Village Sports used to be.  Guess he also owns the Playa store so he’s combining the whole thing into one location.  Bottomline: the crepe store is a “yes, go do it!”

On a completely different note – but also new in the Riviera Village – we have the Ma Me Spa.  Here’s an idea for you if you have children, especially young ones.  Go get a manicure, pedicure, facial or massage and bring the kids and have them watch them for you at the same time!  A true spa get away without the guilt!  What a gorgeous boutique they have as well – fine organic products to take home and pamper yourself there as well as gorgeous baby & mommy gifts!  They also do couples night out – the two of you get a night out or a pampering spa treatment for two and babysitting all in one place..not bad! 

I was out the other night in the Village at Friends of the Vine – they are not new – actually think they’ve been there quite a while now.  What a great place – great atmosphere, great service, great food (hors d’oerves) and of course, great wine!  You can go and buy wonderful wine there as well as wine accessories if you need a nice gift for a wine lover.  Seems like you always run into someone you know there, so head on down and enjoy an evening at Friends of the Vine in the Village!

Palos Verdes Estates – Luxury Real Estate

You want some luxury real estate?  Check out Palos Verdes Estates – a beautiful part of the Palos Verdes Peninsula mainly occupying the west and north end of the peninsula.   Valmonte, Malaga Cove, Monte Malaga and Lunada Bay are the players here.  Currently there are a total of 51 homes for sale in PVE.  Let’s look at each small section and see what’s looking hot.

Valmonte – the northern-most neighborhood (sometimes referred to as the Grove because of all the eucalyptus trees there.)  There is also an “exclusive to PVE residents” golf and tennis country club - the PV Country Club….the clubhouse was just re-built and is gorgeous.  Valmonte borders the South Torrance Beaches and is the closest PVE neighborhood to the Beach Cities.  Currently there are all of 9 homes for sale there – the inventory is dramatically low.  That neighborhood experienced a 4% increase in its average sales price - 2007 vs 2006…not bad for a “bad year.”  The lowest priced home right now is listed for $999,999 (a “diamond in the rough” the listing starts off…although it doesn’t look too bad from the photo) and the most expensive home lists for $2.550 million (new construction – something we don’t see too much of and nicely staged inside.)

Next we’re off to Malaga Cove – one of the more expensive and beautiful parts of the Peninsula.  The ”Beach Club” is located in Malaga Cove.   Currently there are 6 homes for sale to chose from in this gorgeous bluffside neighborhood.  The least expensive home is $1,695,000 and is a fixer upper with quite a smashing view.    Something you can “make your own.”  Or – you could go to the high end of the list and spend $4.2 million on a “build your dream home later” 1-1/4 acre panoramic ocean view lot.

Next we head up the hill – to Monte Malaga – there are some serious views of the Queen’s Necklace from up here.  As of today – there are 18 homes for sale here (the highest amount of inventory is in this neighborhood of PVE.)  The least expensive home is listed for $1,449,00 right now and is located on Granvira Altimira – a main road that runs through PVE and takes you into Rancho Palos Verdes.  It is also a “fantastic opportunity” to build your dream house later….it does offer some views and a pool.   So what’s the most expensive house in PVE – it’s in Monte Malaga and its list price is $12,990,000…strangely there is only one picture in the MLS for this one.  Guess when you’re thinking of spending $12.9 million dollars one picture is enough???  Here’s the picture that’s going to sell you a $12.9 million dollar house – ready?!  Don’t know if that picture is knocking my socks off. 

The last and most southerly bluff-side neighborhood of Palos Verdes Estates is the ever lovely, Lunada Bay.  Noted for it’s gorgeous fountain right in the middle of the Drive (Palos Verdes Drive West.)  Inventory in Lunada Bay is more plentiful and you have 18 homes to chose from starting at an “affordable” $1,049,000 – and this is a brand new listing – first showings will be Tuesday from 11-1 for the brokers…..it’s pretty much all original with wood paneling.  The upper end of Lunada Bay is not too bad – $3.495 affords you amazing ocean & Catalina Island views including romantic sunset views as evidenced by our MLS lead photo for the property This home offers over 6200 sq ft in two remodeled floors including a beautiful kitchen…seems like a lot of house to me. 

Palos Verdes Estates is a wonderful place to call home.  They tout their wonderful school system – Palos Verdes Unified School District - some of the best around – as well as many acres of parkland.  Wouldn’t be be a bad place to end up if you ask me!

We Don’t Have a Crystal Ball, but…Riviera’s Direction for Spring 2008

A good way to figure out what direction we’re headed is to look back.  This time last year – Jan 1, 2007 – Feb 27, 2007 there were 11 homes sold in the Hollywood Riviera.  The average sale price was $1,069K.  Of the 11 sold properties the lowest priced sale was $828K and the highest priced sale was $1,400K.   The average Days on Market was 42 days and average dollar per square foot was $586. 

What’s interesting is to see what the same amount of time – 58 days – both of a first quarter (not typically the “hottest” quarter of the year) held in 2008.   10 homes sold in the 1st 58 days of 2008 with an average price of $1,147K – that is a 6.8% increase – yes – increase in average price.  This is interesting though – the lowest price home to sell in this time period 2008 was $605K and the highest was $2,130K – now there is a spread for you.  The average $ per square foot was similar to last year – $569K, a tiny bit less than last year.  The Days on Market was essentially the same as well, 43 compared to 42.  Of the ten sold, half were under a million and half were over a million dollars.  In 2007, 6 were over a million and 5 were under a million dollars – things haven’t changed much is what I’m seeing here. 

What’s going to happen as we move forward – I don’t have a crystal ball but…if things stay the same like they have so far - the month of March 2007 went like this:  10 homes sold last year in the month of March – 31 days.  (The same amount of homes that sold in 58 days.)   March is when things start to heat up – a good time of year for sellers usually.  The average price was $1.172K  – interesting that the average price doesn’t change much although the parameters to get there sure do – March last year had 10 sales and the lowest was $1 million and the highest was $1.3K – very tight price range.  Average DOM was 44, similar to what we’ve been seeing, so no news there.    If we do this in March 08 – we currently have 24 homes for sale – so almost half of them would be sold by April 1st.  We all know there will be new inventory though…sure hope so – what’s on now sure is getting stale.   We’ve had 22 homes on the market for a while – there were just 2 new listings to hit the market within the last week – one today that looks amazing and one that is pretty decent from last week.  Curious to see what happens…can’t wait to make the report!

In A Hurry? – South Bay Dinners Just Got Easier

We are working moms of the South Bay.  Dinner is usually a hurried – even stressful event.  Just the thought of the question – “What’s for dinner?” or “What shall we do for dinner tonight?” can make me cringe.  Let me tell you what I’ve discovered in the South Bay that makes dinner time a whole lot easier and even exciting!  Dream Dinners opened their doors in South Torrance about a year ago and what an impact it’s had on my life and several of my friends’ lives.  Their food is delicious and so easy to prepare.

How does it work you ask?  You make a reservation – online which makes it soo easy!  You pick your location – the one in the South Bay is on Palos Verdes Blvd at Sepulveda (across from Cooking Stuff…..everyone knows where that is.)  Then you go to their current menu and pick out the meals you’d like to prepare.  You pick a time and then show up that day.  When you get there you are greeted by super nice people that genuinely seem to want to help you.  You wash your hands, don an apron and get your tickets w/ your selections.  February – I just had their Carribbean Pork Roast – oh my gosh – can you say “Delicious!”  It was outstanding – so good in fact that I have to go by and make another one.  I am off tract, back to how it works:  There is a 36 meal minimum – which may sound like a lot of food, but it’s not really.  Each meal comes in 3 or 6 person servings.  There are stations set up w/ the menus and the “recipes” on how to assemble each meal.  You are essentially making “ready to prepare at a later date” meals.  Most meals go into a Ziploc baggy (some into aluminum pans – all provided by Dream Dinners.)  It’s quite fun while you are there…can be very social (they even do parties for groups if you want to do a Dream Dinner party.)  You come home and stuff your freezer with plenty of ready to pop in the oven meals. 

Leaving for work in the morning – take out  a Dream Dinner from your freezer – thaw it out while you’re at work – come home that night and all the “prep” work is done (and the “thought” work.)  Pop it in the oven and voila – dinner is ready.  Welcome to family dinner time again!

“2008 Spring-Bounce: Real Estate Cycles”

We will see a “spring bounce” in 2008?  Typically the best time of year in real estate is spring.  Spring is not far away – March 21st is the first day of spring and that is only a few weeks away.  From my experience this is when sellers start preparing their homes for sale and buyers start getting ready to find their new homes. 

So far this year I know of several sellers that are getting ready as we speak/blog to put their homes on the market.  And open houses have been trafficked well lately!  These are both signs that the typical spring cycle is heading toward full bloom!   Right now here in the Hollywood Riviera – there is very little inventory – only 22 single family homes for sale.  Typically we will see a larger number as we move into spring, but the buyers are usually buying them so the numbers will remain constant.  There are 5 SFR homes in escrow right now.  This is not bad for a “winter” market.

I have spoken to several agents lately that have told me that they lost out on offers for their buyers due to multiple offers – yes, I said multiple offers.  I personally lost a deal a couple weeks ago because their were multiple offers and so did Laura.    The one I lost out on was a REO – the bank priced a townhouse well below its market value and there were 8 offers according to the listing agent.  The one Laura missed out on was also an REO and the listing agent on that deal told her there were 20 offers.  That house had been on the market forever too – then they reduced the price to something well below market value and boom – multiple offers.  It makes one wonder if this isn’t a great strategy for pricing?  Can you “underprice” a house?  It would appear not.

Back to our spring bounce – real estate is cyclical and hopefully 2008 won’t be any different.  So far, I feel it is going just as usual – my phone has been ringing more than ususal – but typical for spring!  This is good news!

Hollywood Riviera – Where is that anyway?

The Hollywood Riviera is a bit like an obtuse ”triangle.”  It is surrounded by the ocean on one side, Valmonte – a great Palos Verdes Estates neighborhood, and South Redondo Beach on the other.  The eastern tip is located in South Torrance (the whole neighborhood is in South Torrance technically.)  It is a really cool area that many people don’t even know exists – even people in the “beach cities” – this is what we summarize Redondo, Hermosa and Manhattan Beach as. 
Hollywood Riviera has an interesting feature – it has 2 addresses; Torrance & Redondo Beach.  The entire Hollywood Riviera is in the city of Torrance (South Torrance – 90505) but part of the Riviera has a Redondo Beach P.O. Box (90277.)  See the map to figure out which is where.