Monday's Inspirational Thought

"Most people are about as happy as they make up their minds to be."

- Abraham Lincoln

Price Reduction on 16801 Via La Costa

This beautifully designed and custom built home in 2004 is located in a guard-gated area on over one acre surrounded by mountains. Great attention to detail, fine quality and excellent flow make this truly a dream home in the Palisades. Includes formal living and dining rooms, plus a huge cook's kitchen, breakfast area and family room. Four spacious bedroom suites, maid's plus office and bonus room. Sprawling grass yard, pool with tree-house/slide, spa, waterfall and bbq area -- all completely private.

Now offered at $3,995,000!

Some of Our Amazing Listings!

581 Amalfi Drive, Pacific Palisades, CA

Majestically perched on a sweeping corner rim lot in the prime Riviera Palisades, this sought after estate is an extraordinary art piece designed by Richard Landry and featured in Architectural Digest. The circular motor court and walled courtyard welcome guests and invite them to a private and tranquil experience rich in Andalusian and Moorish architecture...

16801 Via La Costa, Pacific Palisades, CA

Completely private estate located in a guard-gated neighborhood and on over one acre surrounded by mountains. Beautifully designed and custom built in 2004. Great attention to detail, fine quality and excellent flow...

17420 Tramonto Drive, Pacific Palisades, CA

As featured in “Dream Homes of Los Angeles”, this stunning Architectural by Michael King and Diana Pollard combines chic design, dramatic details and striking use of natural light. Soaring ceilings, walls of glass, warm woods and cool stones create a sense of peace and balance inside and out...

For more of these amazing properties, see our full property listing info and images!

Monday Morning: Inspirational Thought

A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.

-Winston Churchill

Inspirational Thought

We don't see things as they are, we see them as we are.

- Anais Nin

New Listing: Bel Air Bay Club Neighborhood with Ocean/Mountain Views

Located on a quiet loop street in Bel Air Bay Club neighborhood. See, hear and feel the ocean! With a peaceful setting and large private yard (with room for a pool), this is the ideal home for entertaining or simply enjoying the Southern California lifestyle. Split-level floor plan with 3 bedrooms, 2.75 baths plus family room off the open living/dining room. Excellent proximity to the beach (shortcut path access just a few homes away), and minutes to Village shops, restaurants and hiking. Underground power lines. Tremendous potential surrounded by ocean and mountain views!

NO SHOWINGS BEFORE SUNDAY OPEN HOUSE, APRIL 17th, 2-5PM.

342 Aderno Way, Pacific Palisades, CA 90272
Offered at $1,745,000

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

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Monday's Inspirational Thought

"Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover."

-- Mark Twain

“On” the Market vs. “In” the Market?

Special to the Palisadian-Post

Several months ago I was hired to sell a home near the village, and the owner decided to set the price approximately 12 percent higher than where we suggested the market would respond most favorably to. After months of very active marketing, many ads and open houses, and an eventual price adjustment, we were finally able to negotiate a lease with an option to purchase. That is an example of a home which was merely “on the market”.

Recently, we listed a home on the same block as the home above. In this case, the owner decided to select a price that was intended to receive maximum market energy in a short period of time. As a result, seller received several offers, and ultimately sold it for substantially more than the asking price. This is an example of a home that is actually “in the market”.

As of April 1, 2011, there were 94 homes for sale in Pacific Palisades. Forty-eight homes sold in the first three months of 2011, which is an average of 16 homes per month. That equates to a six-month level of homes available for sale. This may be an indication that the local market is evenly balanced between buyers and sellers.

The average time on the market for the homes which have sold so far this year is lower than last year at this time by 37 percent, which theoretically would indicate that sellers have a favorable climate. Other signs favoring sellers are an 11 percent lower housing inventory in the Palisades and 50 homes now in escrow.

On the other hand, there are clear signs that the local market truly favors buyers. Sales volume is down 18 percent, the average price per square foot is six percent lower, and the average median sales price so far this year is 15 percent lower than last year’s first quarter.

Many buyers are apparently taking quicker action when a suitable home is listed at a price they feel is attractive. Hence, the shorter time on market and lower inventory level. Clearly those properties were perceived as excellent values, and thus were really “in the market”, not just “on the market”.

Not many people notice the other approximately 50 percent of homes “on the market”, that are not really priced to sell. In fact, in looking back over the last year of Palisades home listings and sales, it may be observed that less than half of them actually sold.

Fewer are buying as compared with last year at this time, but those who do buy are doing so quickly and decisively. In fact, many sales today are resulting from multiple offers, and the sellers often get more for their property than they asked for. There are clear and definite benefits from proper pricing and marketing of homes. Indeed, it may well determine whether the home will sell at all.

Inspirational Thought

Destiny is not a matter of chance, it is a matter of choice. It is not a thing to be waited for, it is a thing to be achieved.

- Jeremy Kitson