For Sale Vs. Sold
A slow decrease in the number of listed properties in Gardena is evident, beginning in May. Though this results in a reduction in the amount of inventory, there is still plenty to choose from for buyers.
Sales this summer did pick up, compared to the first part of this year, and were even higher than last years sales for the months of July and August.
A personal observation is that there have been a lot more first time homebuyers taking advantage of the lowered home prices and the new FHA loan products requiring minimal down payments. Hints of this are evident in the Greater South Bay analysis. With home prices in Gardena being more in line with what most first time home buyers can afford, this very well could explain the significant number of sales in July and August.
Days on Market - Sold Vs List Price (as a Percentage)
The average days on market indicates how long listings are remaining on the market before they are sold. One important point to note is that these numbers do not take into account those listings that do not end up selling, and instead indicate how long fairly priced homes will take to sell.
The trend of Selling Price versus Listing Price in Gardena is following suit with what we are seeing in the Greater South Bay - selling prices below the listing price.
The number of days that a property remains on the market before it sells is still high, though it fluctuates greatly. This is why it is extremely important for sellers to list their home at fair price so that it sells as fast as possible. Overpricing a home can lead to a significant loss of time and money.
Average Price - Sale Vs. Sold
We can see a very gradual, downward slope of the green line on the graph, representing a decline in the Listing Prices of homes in Gardena. The red line on the graph also shows an obvious downward trend, representing the price that homes are actually selling at. However, you can see that the downward trend of the red line has slowed down in 2008 - which is what the media is reporting as happening in the rest of California.
Months of Inventory
Anytime inventory is more than 6 months, it is considered to be a buyer's market. 3-6 months, a neutral market. Below 3 months, a seller's market.
The recent summer selling spree has resulted in low "month's of inventory" for the past few months. We also see this number jump around franticly over the last 14 months. Even though the July and August had months of inventory less than 6, the buyer still has the upper hand in today's market.
Tiffany Wilson has lived in the South Bay of Los Angeles County for almost 10 years. She and her family enjoy the safety and rich family features that the beach communities of the South Bay have to offer, including a close and neighborly community. Also, having experienced an out-of-country move to California over 10 years ago, she is perfectly positioned to assist out-of-state and foreign buyers in their search for real estate in the South Bay and the additional surrounding communities of Los Angeles and Orange County. She can be reached directly at tiffany.wilson@shorewood.com or 310-503-0557.
Understanding of the local real estate market and its trends is important for a Realtor® to do their job well. They accomplish this through detailed analysis, which oftentimes can be a tedious and time consuming process.
Shorewood Realtors is the only company to have exclusive use of the Trendgraphix statistical and trend system. Use of this system allows us to sift through the real estate sales and listing data to get an accurate, localized snapshot of the real estate market and its trends and performance.
Each area performs in its own way. That's why it is important for a Realtor® and their client to have access to information from systems like Trendgraphix so that they can help their clients make intelligent real estate decisions that will save them time and money.
For Sale Vs. Sold
Inventory in the Greater South Bay has been on a steady increase throughout 2008. This is due in great part to pre-foreclosure and bank owned properties that have been steadily hitting the market - the graph does not show this, but my experience and observations have.
Summer sales were fairly swift, though not as strong as a year ago. The number of pending sales (in escrow) peaked in July, but were still high in August. This is a good indicator that sales will continue to remain around the same level for the next month (September), possibly two.
Days on Market - Sold Vs List Price (as a Percentage)
The average days on market indicates how long listings are remaining on the market before they are sold. One important point to note is that these numbers do not take into account those listings that do not end up selling, and instead indicate how long fairly priced homes will take to sell.
You will also see on this graph how much a home sold for, versus its list price. An obvious trend indicates that homes are now selling for less than their list price, which is a different story than what we saw a few years ago.
Homes are also remaining on the market longer than they were a year ago. This chart here demonstrates exactly why it is so important for sellers to price their home fairly. Any homes that are overpriced will not get any attention, and will cost the seller precious time in a rapidly changing market.
Average Price - Sale Vs. Sold
We find some important information on this graph about list prices and sales prices.
The green line shows that list prices were on a gradual decline from May of 2007 through to December 2007. Then we start to see an equally gradual incline for 2008. These are homes that are currently for sale.
The red line shows that sales prices have been on a decline, with occasional deviations. July and August have seen more sales with lower prices. This is a perfect example as to how many homes are now affordably priced for first time homebuyers who had thought they had missed their chance to buy a home.
The period of fastest decline for listing and sales prices combined is from September through to December - typically a slow time in the real estate market, and very likely a good time for buyers to get better deals in the year.
Months of Inventory
Anytime inventory is more than 6 months, it is considered to be a buyer's market.
Tiffany Wilson has lived in the South Bay of Los Angeles County for almost 10 years. She and her family enjoy the safety and rich family features that the beach communities of the South Bay have to offer, including a close and neighborly community. Also, having experienced an out-of-country move to California over 10 years ago, she is perfectly positioned to assist out-of-state and foreign buyers in their search for real estate in the South Bay and the additional surrounding communities of Los Angeles and Orange County. She can be reached directly at tiffany.wilson@shorewood.com or 310-503-0557.
To prepare your child for a changing world...
A public hearing to seek approval for the...
Wiseburn 21st Century STEM Charter School
If your child wants a world-class education and will be entering the 9th grade in September 2009 (next year), please join us.
This meeting is a general overview for the purposes of completing the mandatory public hearing. An admissions open house will be held in October and more specifics about the STEM school will be discussed then.
WHEN: Monday, September 8, 2008 @ 8:00 pm
WHERE: Dana Middle School - MPR, 5504 W. 135th St., Hawthorne, CA 90250
WHY: To learn about th enew tuition-free high tech school of tomorrow!
Do high gas prices have you and your family stranded at home over Labor Day weekend with nothing to do? The Hermosa Beach Chamber of Commerce & Visitors Bureau has the solution for you: Fiesta Hermosa!
This Labor Day Weekend - August 30, 31, and September 1 - you will find the "largest arts and crafts fair in Southern California" at Fiesta Hermosa. This highly popular and highly anticipated event features numerous crafters, musicians, food venddors, the Kiddie Carnival, and the Charity Beer & Wine Garden, all against the backdrop of beautiful Hermosa Beach.
Parking in Hermosa Beach is tough at the best of times, and nearly impossible during Fiesta Hermosa. Thankfully, the Chamber of Commerce has provided FREE PARKING and FREE SHUTTLE BUSES from 7:30 am to 7:30 pm. Parking is at the Northrup Grumman parking lot at the intersection of Manhattan Beach Blvd and Doolittle Street.
Questions? Call the Hermosa Beach Chamber of Commerce & Visitors Bureau at 310-376-0951, or visit http://www.fiestahermosa.com.
This Saturday, August 30th at 7:30 pm, the Parks and Recreation department of Manhattan Beach is showing a FREE movie at the beach! Bring the whole family to watch Pirates of the Caribbean: The Curse of the Black Pearl on the North Side of Manhattan Beach Pier.
You don't find much of anything free these days, so this is a wonderful treat for folks in the South Bay. Bring warm and fuzzy blankies, snacks, and some hot chocolate for instant memories! And don't forget to clean up after yourself - we love our beaches!
For more information, visit www.citymb.info or call 310-802-5448 .
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Do you want to hear about me, or what I can do for YOU? How about a Realtor who keeps in touch with the changing market, so she can adapt to best serve her clients. Competency, knowledge, and service.
I LOVE real estate, and I appear to have an affinity for it. I began investing in real estate in 1999 and have learned a lot along the way and bought some great homes. I have enjoyed this experience immensely, and I find that it helps me greatly when serving my clients.
But it's not just about real estate - it's about the people I work with: my current & future clients, financial professionals, title and escrow, insurance professionals, my peers, and all others involved. Real estate is serious business, but that still doesn't mean we can't have fun with it, does it?
Some people think I am crazy for being in a career in real estate with the way the current state of the housing and finance industry. But, I have always walked to the beat of my own drum. My primary motivator for working in real estate is not financially driven, but because it is something I truly enjoy. I am up for all of the challenges, looking at them as opportunities to grow and learn, not pitfalls. This is no fairweather real estate agent, my friend!
I think it is important to have a mantra - a slogan - which tells people what you are all about. I think I have found one for myself which is simple and succinct:
Responsible Real Estate
Of course I want to act in a responsible manner in all my real estate dealings, but I want to go further than that:
I specialize in the South Bay, beach and surrounding cities of Culver City, El Segundo, Gardena, Hawthorne, Hermosa Beach, Lawndale, Lomita, Manhattan Beach, Palos Verdes Peninsula, Redondo Beach, Rancho Palos Verdes, Rolling Hills, and Torrance.
I also specialize in Real Estate Investing and Green Real Estate.
Who are my clients?
Buyers and sellers who are:
I intend on serving ALL of my clients at a minimum in the following manners:
Individuals and families selling or relocating to or within the South Bay
I have lived, worked, and played in the South Bay for almost 10 years now - and counting! I have driven the streets to and from work, my family and I have frequented the beaches, we have dined all over (shout out to Wahoos Fish Taco in Manhattan Beach, the BEST restaurant in the whole world), shopped here, and enjoyed this wonderful area that I made into home after relocating from the cold, northern regions of Canada.
Buyers:
Sellers:
Real Estate Investors & Foreign Buyers
I am a real estate investor myself, and I always look at every piece of real estate with an investor's eyes. I am also a foreigner, having made a large move from Canada to Southern California over 10 years ago. I am familiar with what investors and foreign buyers are looking for and what they have to deal with. I have also served foreign buyers in the past when considering the purchase of real estate in Costa Rica. To top it off, I have also personally purchased out-of-state real estate safely and successfully. That is only possible with the help of a good agent, and mine has taught me the proper way to do it.
Tiffany has the experience in customer relations, sales and marketing, and most importantly, a desire to succeed through self-motivation. Her dedication and passion lends a unique commitment to service excellence, of which her colleagues and clients have, and will continue, to benefit from in the future. Tiffany is a genuine asset to the industry, to her clients, as well as to her colleagues, friends and family.
- Renee Crow, Missouri real estate agent with Realty Professionals
From my first contact with Tiffany, the choice was obvious: Wayne and Tiffany came well prepared, with their "homework" done and every detail attended to. They were there to sell themselves , but it was clear that they had listened attentively to our needs as sellers: they were extremely clear on a well-researched asking price that would be attractive in the current market and yet acceptable to us, and they had a creative marketing plan that went far beyond the office caravan, brokers' open, and open house after open house and included every possible potential buyer , whether it was someone just surfing the internet, starting to think about buying or someone who had been searching with the help of a real estate agent and just waiting for the perfect house to come on the market.
I signed the listing paperwork on a Monday evening, the listing went public Tuesday morning, and by that Thursday evening, we had a realtor call to say she had an offer on its way. We went from listing to closing in a mere 38 days.
Throughout the entire process, Tiffany and Wayne were always available to me via phone and email, and they never hesitated to stop by in person when necessary. Their teamwork is tightly choreographed and between the two of them all aspects of our sale were handled without a hitch. The internet listing was beautifully done with a maximum of photographs, the hard copy materials were thoughtfully conceived and flawlessly executed.
I highly recommend Wayne Lester and Tiffany Wilson to anyone considering selling their home.
- Elizabeth Baker, Torrance, CA
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