The Pacific Palisades Blog

Amidst all the negative real estate press recently, here’s a positive article from the Wall Street Journal…  Is It Time to Buy a Home?

The inventory of single family homes in the Palisades has jumped up about 25% in the past 2 weeks. Currently 134 homes on the market. Sales activity is fairly brisk with 55 homes currently in escrow. Most of the activity is under $3m (only 6 of the 55 homes in escrow are listed over $3m). Average days on market for homes sold in the past 6 months is 70 days. Not to shabby.

$895,000 price reduction on my 753 Chapala, Pacific Palisades listing.   See the eCard here.

Sold over asking in just 9 days… 

622 Frontera Drive, Pacific Palisades – Listed at $4,495,000

Please Visit:  www.622Frontera.com

We can help those affected by the earthquake and tsunami in Japan!   Text REDCROSS to 90999 to make a $10 donation and support the Redcross disaster relief efforts.

604 El Cerco Drive, Pacific Palisades

Offered by Dan Urbach at $2,995,000

POCKET LISTING. Not in the MLS…

Beautiful white picket fence Traditional in prime Huntington Palisades location. 5 bedrooms/4.75ba in approx 3,459 square feet just a few blocks from the Village and the park. Flexible floor plan; currently master and one additional bedroom downstairs. Three bedrooms upstairs, each with bathrooms ensuite. One of the upstairs bedrooms has potential to be large master suite (currently being used as a bonus room). Private backyard with brick patio and grassy area.
Please Visit: www.604ElCerco.com

This a very cool way to view my 753 Chapala Dr, Pacific Palisades listing as an eMagazine. Please click on this Link.

Is the housing market poised to recover this year? Check out this encouraging article from today’s Wall Street Journal: WSJ Article

753 Chapala Drive, Pacific Palisades

www.753Chapala.com

Offered by Dan Urbach at $7,795,000

In the Huntington Palisades – This Mediterranean Villa, completed in 2006, is designed and executed to the highest levels of taste and finish by renowned architect Doug Burdge.  The estate offers 5 bedrooms and 9 bathrooms with a large gourmet kitchen, butler’s pantry, spacious family room, dining room, living room, indoor/outdoor loggia with fireplace. Imported Limestone, aged French Oak plank floors, reclaimed wood beams, floating spiral staircase and custom detailed ceilings create an old world charm. Luxurious master suite has a fireplace, his and her bathrooms and separate closets. Four additional upstairs bedroom suites with an intimate family/TV room and a wood paneled library/office. This home also features a bonus room/gym/media and a walk-in wine cellar complete with a private dining area. Lushly landscaped private gardens, sports court, pool, spa and built-in BBQ/kitchen complete this entertainer’s dream.

I took a little break from the blog, but I’m feeling the urge to “post” again! And, I know you all want to know how the Pacific Palisades real estate market is performing. The answer is surprisingly well. As of this posting, our inventory of available homes in the Palisades remains low. There are 109 homes on the market (note: there were over 150 active listings in Oct 2010), 44 are in escrow (a surprisingly high number), 110 have sold in the last six months at an average cost per square foot of $671 and an average market time of 79 days. Most of the activity is in the under $2 million market. Of the 44 homes currently in escrow only 7 are in over $3 million and only 1 is in over $5 million. While sales activity (volume) is up significantly and prices have stabilized in the under $2 million market, prices are still trending downward and sales activity is slower in our higher-end luxury market. Overall, prices in the Palisades have fallen 25% to 30% from our highs in October 2007.