Is this a dice roll for the company that is so heavily invested in this current project in Palos Verdes Estates? Most people who are closely following today's real estate market would say that taking on a project of this magnitude could be career suicide...Here you see two homes side by side on one of the busiest thoroughfares in all of Palos Verdes, Via del Monte. The home on top is in early construction, and the one on the bottom just went on the market as a finished product. They owner/construction company wants $2.4 million for the one currently listed, and is thinking of asking $2.6 million for the house in early construction.
Time will tell as far as what they actually fetch in the open market, however it goes to show that there are investors out there that are still gambling on the market holding in a higher end area such as this. Many of the writers out there really sensationalize the instability of the market and make it seem as if the sky is falling. In reality, the numbers are holding much better in coastal and higher end areas. The inventory isn't there because most people aren't selling right now unless that have to...
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