I have seen a major increase in inquiries by buyers interested in purchasing property on the Palos Verdes Peninsula. Now that prices have decreased approx. 10% from a year ago, buyers are sensing a real opportunity to purchase a home in this beautiful community. Although 30 year jumbo mortgages are effectively dead, good loans for interest rates fixed for 5 to 7 years at a rate of approx. 6% are available to well qualified buyers.
Sellers are becoming very flexible in negotiating a sale, recognizing that we are entering the traditionally slow time to sell a property as we enter the holiday season. There is normally a decrease in inventory available at this time of year due to sellers not wanting to show their property during the holidays, so those sellers who have theri property on the market at this time are usually vvery motivated sellers.
For more about buying and selling real estate on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com
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