Anyone who may have been driving down Hawthorne Blvd this morning facing Catalina island was in for a treat. The ocean was like a mirror reflecting all the majesty of the whole island. It was a postcard scene. It was just another special day in Rancho Palos Verdes.
The market continues to hold up better here than most other area's of the state. At the current time there are 139 single family residences for sale in the city from $578,000 (short sale) to $6,900,000. There are currently 36 homes in escrow and the average time on the market is still around 95 days.
I continue to advise all my clients to get approved for their loans with 2 different lenders in this tough credit market. All the lenders I recommend don't mind this, because they know us Realtors have been competing with each other even during the good markets.
Having seen the dow jones average go down 35% this year, I still believe real estate should be everyones primary investment.