Inspirational Quote: Beginnings

Though no one can go back and make a brand new start, anyone can start from now and make a brand new ending.
— Carl Bard

NEW LISTING: Romance and Quality Abound

 

One of the most beautiful homes in this area of the picturesque Highlands. Well-designed with high quality finishes and an excellent, open floorplan. This 5 bedroom, 2.75 bath home enjoys wonderful indoor/outdoor flow. Bright and airy from the two-story foyer to the charming family room off the gorgeous French country kitchen with top-of-the-line appliances. High ceilings, distressed walnut wood floors, French doors/windows, custom fixtures, etc. One bedroom suite downstairs. Upstairs has a romantic master suite, plus 3 bedrooms, and 1 bath. The entire lower level opens to a spacious private yard and patio with fireplace. Serene mountain views and some ocean view from several rooms. 

17248 Avenida de la Herradura, Pacific Palisades, CA 90272
Offered at $1,625,000

For pictures and information of this and other wonderful properties please go to Michael Edlen's Featured Homes web page.

Inspirational Thought: Imagination

Logic will get you from A to B.  Imagination will take you everywhere.
— Albert Einstein

A Look at the Current Palisades Leasing Market

For those who are not involved in leasing properties, the level of leasing activity in Pacific Palisades may be surprising. A look at the first eight months of 2011 shows that 250 listings were made available for lease, including homes and condominiums. A total of 157 of those were leased, which is a remarkable 63% success ratio and an average of 20 leases per month! In fact, only 20% of those listed have expired or have been withdrawn from the market.

At the current rate of leasing, the 38 active listings as of September 2 would last for only two months. This is an extremely low level of inventory.

The median price point of the leases so far this year has been $5,500 per month, while the average price so far has been $6,300 per month. The average square footage of those leased was 2,500, and the average days on market in 2011 of the 157 leased was only 39 days. The range of leases so far this year has been $1,295 for a 1-bedroom, 1-bath unit on Palisades Drive to a 6-bedroom, 6-bath property on Ocampo, which leased for $25,000 per month. There have been a total of 27 leases at more than $10,000 per month so far this year.

Some might be interested in how some of these figures compare with last year. During the first eight months of 2010, the rate of leases averaged 23 per month, as compared with 20 per month in 2011. The median price in 2010 was $5,000, and the average price was approximately $6,000 per month. This reflects the fact that prices have continued to slightly increase due to a relatively high demand as compared with the inventory available in the Palisades in recent years.

Many property owners who otherwise would have sold their homes have figured that they might do better to lease their properties for a few years and wait until prices return to higher levels again before selling. Likewise, many buyers find themselves not able to purchase due to the stricter loan requirements, combined with a perceived relative lack of good quality homes at fair prices. Thus the demand for rental housing continues to be strong and results in a rapid leasing of properties soon after they are made available. In fact, due to the continuing strength of the leasing market, more investors are beginning to see a positive cash flow and greater incentives to purchase properties for the potential income which is now possible.

The data used for the above report are based on M.L.S. records, and do not include rentals done directly by property managers, owners, etc.

As published in the Palisadian Post, September 2011

Inspirational Thought: Decisions

"In any moment of decision, the best thing you can do is the right thing, the next
to best thing is the wrong thing, and the worst thing you can do is nothing."

— Theodore Roosevelt

New Listing: Cape Cod Charmer in the Palisades

  

Cape Cod charmer in the Palisades. Just three blocks from village shops, restaurants, farmer's market, etc. Enjoy complete privacy with tall, wrap-around hedge. Huge grass yard, large romantic brick patio with bbq and fireplace. Beautifully done in and out with quality and style. Open living/dining with high, beam ceiling and fireplace. Den off stainless kitchen with breakfast bar. Three bedrooms, 2 baths + office (could be 4th bedroom). Details include dark wood floors, french doors, sconces & glass door knobs

15001 Bestor, Pacific Palisades, CA 90272
Offered at $1,599,000

For pictures and information of this and other wonderful properties please go to Michael Edlen's Featured Homes web page.

Inspirational Thought

"You seldom improve quality by cutting costs, but you can often cut costs by improving quality."

— Karl Albrecht

Remembering Those Lost 9/11

Yesterday marked the 10 year anniversary of the 9/11 attacks.  All over the news, in every newspaper, and in our thoughts; we remember those lost that fateful day.  

The opening of the 9/11 Memorial at Ground Zero in New York City will always remind us of that loss as well as our strength and resilience as a country and people.  Next time you are in New York City make sure to visit this special site.

 

  

9/11 Memorial

Friday's Inspirational Thought: Just in Time for the Weekend

Man sees first his failure or success, his joy or sorrow, before it swings into visibility from the scenes set in his own imagination. Life is a game of boomerangs, be careful of your thoughts, they will come back to you! 

-Cathie Ellen

New Listing: Move-In Ready Beautiful Contemporary Home

Move-in condition Contemporary with one of the best floor plans on Arbolada -- all 4 bedrooms upstairs! Inviting entry leads to formal living room with soaring ceiling and dining with large bar area. Open kitchen/family room opens to private yard with sweeping mountain views and some ocean. High ceilings, recently painted, redone wood floors, excellent storage, 3-car garage, etc. Part of Summit Club with pool, tennis, basketball, etc.

16690 Calle Arbolada, Pacific Palisades, CA 90272
Offered at $1,535,000

For pictures and information of this and other wonderful properties please go to Michael Edlen's Featured Homes web page.