Caskey and Caskey

The South Bay

“Given that the national   averages are less than 10 closed transactions and less than $1.2 million in   closed volume per agent or team, these results speak to the extraordinary   success of The Thousand. Being ranked in the REAL Trends The Thousand, in   short, is an incredible accomplishment.” — Real Trends, Inc.
Dave Caskey ranked #63 in the nation for sales volume in 2013
Dave Caskey ranked   #63 in the nation for sales volume in 2013
DAVE CASKEY NAMED BY WALL   STREET JOURNAL AS ONE OF THE TOP REALTORS IN THE NATION In both 2012 and 2013, top   Manhattan Beach Realtor, Dave Caskey was recognized as one of The   Wall Street Journal Top 250 Real Estate agents in the nation. In   2013, Dave Caskey closed 70 transactions and $114,299,784.00 in   sales volume, with 95% of the business transacted in the South Bay’s Beach   Cities of Manhattan Beach, Hermosa Beach and Redondo Beach. Because of his   performance in 2013, Dave Caskey was awarded the #63 position of the Top 250 agents in the United States for Top Sales   Professional by Volume by Real Trends in   conjunction with The Wall Street Journal.   Manhattan Beach continues to gain notoriety as more and more publications   include the city, its beaches, schools, and restaurants on   their “Top 10” lists; the most recent by LA Weekly that cited Manhattan Beach   as the #1 L.A. neighborhood for number of homes sold over   $1million. Dave Caskey gives a lot of credit to the Manhattan Beach Ed   Foundation and the teachers in the Manhattan Beach Unified School   District for providing a top notch public education which continues to draw   new buyers to the area every year.Here are the highlights from   this year’s national press release:Ninth annual real estate ranking published in conjunction with   The Wall Street Journal REAL Trends, Inc, in conjunction with The Wall Street Journal, published its 9th annual   “The Thousand” list of America’s top 1,000 real estate sales professionals   and teams. REAL Trends The Thousand, as   advertised in The Wall Street Journal, is   an annual national awards ranking sponsored by the two respected   publications. Designees are recognized as the top one half of one percent of   more than 963,000 licensed REALTORS® nationwide. The Thousand is divided into   four categories, each listing their top 250 designees: Individual Agent—Sales   Volume; Individual Agent—Transaction Sides; Agent Team—Sales Volume and Agent   Team—Transaction Sides.
Real Trends/WSJ Post Top 1000 Agents in America. Dave Caskey is #63 by Sales Volume
Real Trends/WSJ   Post Top 1000 Agents in America. Dave Caskey is #63 by Sales Volume
Dave Caskey was listed in the   Indivdual Agent–Sales Volume rankings and earned the position of 63 in the   nation. The high end markets in greater Los Angeles and New York   dominated the list topped by an agent working out of the Dallas area of   Texas. “These leading real estate sales professionals averaged more than 300   closed transactions and more than $116 million in closed sales volume last   year,” said Steve Murray, publisher of REAL Trends The   Thousand. “Given that the national averages are less than 10 closed   transactions and less than $1.2 million in closed volume per agent or team,   these results speak to the extraordinary success of The Thousand. Being   ranked in the REAL Trends The   Thousand, in short, is an incredible accomplishment.” “In total, this year’s The Thousand professionals closed 155,193   sides and more than $58 billion in sales volume in 2013—a new record for this   group,” said Murray.  “It is incredible to consider that 1,000 sales   professionals and teams could accomplish so much in an industry that is still   recovering.”  METHODOLOGY REAL Trends The Thousand awards program was developed   jointly by WSJ. Custom Studios and REAL Trends, a leading   source of analysis and information for the residential real estate brokerage   industry. The rankings are compiled based on surveys from virtually every   national branded network, many state and local associations of Realtors®,   Multiple Listing Services, all applicants from past years’ rankings, and the   900 largest brokerage firms in the United States. Verification from an independent source is required for all   submissions. In addition, REAL Trends senior staff reviews each and every   submission for completeness and accuracy. ABOUT REAL TRENDS REAL Trends has been the trusted source of news,   analysis and information on the residential brokerage industry since 1987.   The privately-held publishing, consulting and communications company is based   in Castle Rock, Colorado. Residential real estate leaders look to REAL Trends for timely and trusted information and   analysis through its monthly newsletter, news updates, conferences and   publications. Dave Caskey was joined by two fellow Shorewood Realtors agents   on the rankings list, making Shorewood home to the Top 3 agents in Manhattan   Beach.

The South Bay is a special part of Southern California that lies along the part of coastline beginning at the base of the Palos Verdes Peninsula and running north through Torrance Beach, Redondo Beach, Hermosa Beach, Manhattan Beach and El Segundo stopping at the runways of LAX. There is such a draw to the area because of it’s convenient location to the airport, the top-rated public schools, and the special combination of a laid-back costal community element paired with a sophisticated, upscale lifestyle. It is home to many top end execs, professional athletes and coaches, those in the entertainment and aerospace industries and even the specialized military sector. Homes in this area have topped out at an average price per square foot of $1,014.00 so far in 2014. Inventory simply cannot keep up with demand and multiple offers have been the norm for close to a year now. Conventional buyers compete with cash buyers and millions of dollars are moved in this market on a daily basis. While most have been calling this a Seller’s Market, an interesting phenomenon has been taking shape recently that may point to this point in time as an actual concurrent Seller’s and Buyer’s Market. Typically, a seller’s market would play all in favor of the seller; with sale price exceeding expectations, little to no repairs requested and inspections/contingencies removed quickly without much hesitation. In a buyer’s market, the opposite trend is noted; value priced acquisitions, a detailed repair request process and/or large ticket credit request, and normal to lengthy contingency periods (often times even extended).   Seller’s Market

  • Demand larger than supply
  • High sale prices
  • Multiple offers
  • Off market sales and 0-10 DOM is typical
  • Shortened contingency periods
  • Buyers tend to be reserved with repair requests to avoid disrupting seller and keep deal moving towards closing

Buyer’s Market

  • Supply is larger than demand
  • Fewer offers
  • Lingering days on market
  • Possible price reductions
  • Longer contingency periods
  • Buyers have more flexibility in requesting repairs and other credits; sellers are willing to consider more repairs to keep buyers in the deal

 It has often been considered the norm to shape up before marketing a home when in a buyers market, because you are competing against so many other homes. The multiple-offer scenario paired with good ‘ol cash has driven this market past modest recovery to historic, record-setting sale prices. The natural assumption is that the sellers are in control of the market, where in reality, what is happening here in our market is that buyers are holding their own against sellers based on their buying power. The seller wants to obtain the very best price to maximize their profits and buyers want to “get what they paid for”. Buyers that are spending $100,000 to $200,000 over asking price are flexing their muscle to get repairs done, to extend their inspection and contingency periods in order to satisfy all considerations, and to obtain the best financing available. Sellers are commonly having to work with demands of the buyers in order to secure the deal and to avoid going back on the market and the stigma that comes with that action. When working with sellers in this market, consider having the termite inspection and a home inspection done prior to listing so the seller is aware of what may come down in the repair request and are prepared for it early, thereby dampening the emotions early on so that the repair request process moves smoothly.