DIGS is the premiere luxury real estate lifestyle magazine serving the most affluent neighborhoods in the South Bay and Westside of Los Angeles, California.
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8 DIGS.NET | 4.21.23 APRIL 21, 2023 | ISSUE 154 722 1st Street, Unit D, Hermosa Beach, California, 90254 Office: 310.373.0142 Westside DIGS Magazine is published every other Friday by m3 Media, LLC. Reproduction in any form or by any means is strictly prohibited without the prior written consent from m3 Media LLC. The Publisher and advertisers are not responsible or liable for misinformation, misprints, or typographical errors. All advertised properties are subject to prior sale or withdrawal without notice. Real estate advertised in this publication is subject to the Federal Fair Housing Act. M3 Media will not knowingly accept any advertising for real estate which is in violation of the law. All persons are hereby informed that all dwellings advertised are available on an equal opportunity basis. Any and all submissions to this publication become the property of m3 Media, LLC and may be used in any media. CREATIVE SERVICES & AD DESIGN/ORIGINAL ARTWORK PROVIDED EXCLUSIVELY BY WESTSIDE DIGS.. © 2023 Micro Market Media, LLC. All rights reserved. On The Cover LIFE AT THE BEACH THE DESIGN DUO BEHIND PRIZE-WINNING STUDIO YABU PUSHELBERG DREAMS UP A CONTEMPORARY BEACH ABODE THAT IS JUST THEIR STYLE. FEATURED ON PAGE 26 TO OUR READERS South Bay DIGS welcomes your feedback and encourages reader response to our editorial features. Please send your letters to the Publisher at 722 1st Street, Unit D, Hermosa Beach, California, 90254 or via email to Contact@WestsideDIGS.com. Please include your name and contact information. Letters may be published and we reserve the right to edit. ADVERTISING For inquiries, please contact Publisher Warren Dow at 310.373.0142. EDITORIAL For editorial inquiries, please email Editorial@SouthBayDIGS.com Founder & CEO / Publisher President & COO Chief Growth Officer Digital Media Director Video Editor Layout Artist Senior Graphic Designer Contributing Writers Senior Staff Photographer Warren J. Dow Bud Moore Kyle Coats Kieron McKay Matt Polizzi J. Morgan Wise Rufus Agbede Jenn Thornton Constance Dunn Karine Monié Joclene Davey Abigail Stone Paul Jonason C O N N E C T W I T H U S Listen & subscribe on iTunes, digs.net or your favorite podcast provider. The Titans of Real Estate INFLUENCERS PODCAST .net e Westside real estate market has definitely changed. However, those who are frightened by large negative headlines are most likely over-reacting to their own greatest fears about the housing market. Of course rising interest rates have impacted our real estate market. Nonetheless, it has not become a "buyer's market". Even though fewer are able to purchase homes at current price levels, we have had such a long-lasting shortage of homes available as compared with the large number of financially qualified and eager hopeful buyers that the upward pressure on prices has continued. However, sellers are receiving fewer multiple offers and the rate of price increases has slowed. Having personally experienced t h e t h re e p re v i o u s m a rk e t adjustment cycles, I understand the skills and strategies that are most useful in representing sellers or buyers during the period of changes. A housing market is considered to be balanced between buyers and sellers when the inventory level is 5-6 months. It was easy to sell a home when the inventory level averaged between 2-4 months, as it had 2016-2022. e last "buyers' market" was 2008-2014, when the Westside's inventory was between 7-9 months. As of mid-March, the inventory of homes available here had increased to 5.5 months, as fewer homes are being sold. Mid- April it is back down to 3-4 months, as fewer homes have been listed. In previous articles we have provided various guidelines for sellers to use in deciding which agent to entrust the responsibility of selling their home, and these are readily available on our site or by request. Recently a potential home seller asked me the following questions in his process of narrowing the field before deciding who to hire for representing his family: 1. Have you been in real estate since before 2010? 2. How many listings have you personally had in the last 3 years? 3. Have you personally actually sold more than 5 of your listings in the last 3 years? 4. What is your escrow fall-out ratio? What percentage of them has closed? The real estate market tests agents by performance over time. Working with an agent who is amongst the most qualified is even more important now, in a time of increasing interest rates and declining sales volume. Experience Counts Especially in Transitioning Markets Must Ask Questions Before You Hire An Agent The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service, and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. Not intended as a solicitation if your property is already listed by another broker. Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor agents and are not employees of the Company. ©2019 Coldwell Banker Residential Brokerage. All Rights Reserved. Coldwell Banker Residential Brokerage fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Owned by a subsidiary of NRT LLC. Coldwell Banker, the Coldwell Banker Logo, Coldwell Banker Global Luxury and the Coldwell Banker Global Luxury logo service marks are registered or pending registrations owned by Coldwell Banker Real Estate LLC. CalRE#00616212 Michael Edlen DRE 00902158. By Michael Edlen, Trusted Real Estate Advisor Michael can be reached at 310-600-7422, or Michael@Edlenteam.com