Wednesday, October 22, 2014

Time's Effect on Rolling Hills Real Estate

What buyer, of any product, does not want to make a smart and savvy purchase?  Whether you're purchasing lipstick online because the same brand costs less on Amazon than it does at CVS (as I did this week), or you are making a multi-million dollar property purchase in Rolling Hills, there are few things higher on the satisfaction scale than knowing you made a savvy purchase.  But how do you know at the time it is the right thing to do?

The art of the real estate deal, in Donald Trump speak, is a cauldron mix of part science (sale statistics), part art (comparing apples and oranges takes a certain amount of finesse and market knowledge) and a dose of gamble (future value predictions are a mix of research and hoping current economic conditions don't waver excessively). Plus, let's not forget the unpredictability of Mother Nature.

When a buyer wants to ensure a decision to purchase is based on a solid foundation a review of historical sales is a good starting point.  An agent can quote percentage increases, or decreases as was the case during the recession years, but the power of seeing it in black and white will add unquestionable weight to support the words.

Just for the fun of it let's look at time's effect on a few Rolling Hills property sales for 2014:

2003 Sale price:  $3,220,000                     2014 Sale price:  $4,500,000

2002 Sale price:  $1,550,000                     2014 Sale price:  $2,438,500

1996 Sale price:  $1,269,000                     2014 Sale price:  $5,000,000

1989 Sale price:  $1,575,000                     2014 Sale price:  $6,650,000

A quick glance reveals a buy and hold strategy is a wise one when it comes to Rolling Hills properties. These sale numbers do not consider any improvements made to the property.

A review of the 14 Rolling Hills homes sold year-to-date in the gated community show most were held by the previous owners a minimum of ten years, and the majority much longer.  Although a Rolling Hills property's primary purpose may be to provide shelter, over time it can provide not only an enviable lifestyle for family living, but a solid return on investment as well.

- Norma (310) 493-8333

Rolling Hills Homes for Sale:

No comments:

Post a Comment