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Is Now the Perfect Time to Buy Property in Australia?

Unknown business, investing, investors, real estate, real estate market

Ever since I joined Livewire, one of the frequent queries I've received from acquaintances and relatives is, "Is this a good time to purchase real estate?" Regardless of whether it’s their primary residence or an investment property, buying a house is a significant choice.

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 To evaluate whether it’s better to purchase now or wait, I consulted several industry professionals who helped break down and address this significant question by examining the following aspects:

<ul>
 <li>
 Market timing
 </li>
 <li>
 Affordability
 </li>
 <li>
 Price outlook
 </li>
 <li>
 Property types
 </li>
 <li>
 Geographic insights
 </li>
</ul>
<h2>
 1. Market Timing
</h2>

 Based on insights from real estate market analysts,
 
 Cameron Kusher
 
 The recently implemented interest rate reduction has brought stability to the real estate sector, notably in Sydney and Melbourne, where modest price increases have started to occur. Moving forward, he anticipates additional decreases in interest rates will quicken this pace.

<blockquote>
 
 If you can make your purchase now with ample inventory available and less competition from other buyers, even before interest rates decrease further, this approach likely makes the most sense.
 
</blockquote>

 
 Nathan Smith
 
 , mortgage broker and director of Birdie Wealth, notes that many prospective buyers have been sitting on the sidelines for the past 18 months, waiting for the right moment to enter the market.

<blockquote class="--standout">
 
 “The rate cut was certainly that sign, and we have seen a flood of buyers enter back into the market.”
 
</blockquote>

 Despite ongoing global economic instability,
 
 Melinda Jennison,
 
 The president of REBAA and a buyers' agent notes that Australia's real estate market is distinctly influenced by robust population expansion and a considerable shortage of newly constructed homes.


 
 Evan Thornley
 
 The co-founder and CEO of Longview Property Management also concurs that the primary factor behind rising house prices is population growth. He underscores that "essentially, what you purchase is far more significant than the timing of your purchase."

<blockquote>
 
 If you secure a significant piece of property—a 'RODWELL' (Robust Older Dwelling on Well-Located Land)—its value could readily increase twofold within a decade, even if bought amid a minor market uptick.
 
</blockquote>

 He adds further, "'In the meantime, an average property (such as a gleaming modern skyscraper flat) might not provide significant capital appreciation, regardless of how 'inexpensive' it appears at present.' He then explains that shifts in the trend of interest rates have a far stronger impact — driving purchasers to attempt outpacing future price hikes and sellers to delay listing their properties — which leads to a mismatch between supply and demand, consequently propelling prices higher."


 The agreement is evident — accurately predicting the market at the perfect time is almost unachievable, and present circumstances benefit those prepared to act immediately. This counts as a point in favor of taking action now.

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<h2 class="can-not-delete">
 
 2. Affordability
 
</h2>

 As soon as it was evident that rate increases had stopped, consumer confidence rose, and the sentiment got an additional uplift with the reduction of rates. This underscores the high sensitivity of Australian families to alterations in interest rates.

<blockquote>
 
 "Additional decreases in interest rates would boost borrowing ability—with every 25-basis-point adjustment, this capability can go up by approximately 2% to 2.5%. As individuals have greater access to loans and an increasing number of potential purchasers enter the market, we anticipate improved confidence leading to higher property values," explains Kusher.
 
</blockquote>

 He points out that the crucial question is whether increasing costs will negate these improvements in affordability. At present, he feels this outcome is improbable.


 Conversely, Jennison cautions about the possible drawbacks:

<blockquote>
 
 “Lower interest rates tend to lift buyer sentiment and increase borrowing capacity, making people feel more comfortable taking on debt. However, this can lead to increased demand, especially in supply-constrained markets, which can push prices higher and paradoxically worsen affordability over time.”
 
</blockquote>

 Smith highlights that present borrowing criteria involve substantial cushions, with applicants evaluated based on their capacity to manage loan payments at interest rates above 9%. Nevertheless, reduced interest rates might substantially alter purchase feasibility for numerous potential homebuyers.

<blockquote>
 
 A single or double interest rate reduction could boost their financial capability by anywhere from $30,000 to $100,000, which would definitely provide them with the opportunity to purchase their ideal house.
 
</blockquote>

 This rise in borrowing capacity might indicate that individuals who were once unable to afford the market may now actually get a opportunity to purchase.


 Thornley offers an additional viewpoint: although interest rates significantly affect borrowers with substantial mortgages—primarily first-time homeowners—in contrast, those upgrading properties valued at over $1.5 million generally depend more on their accumulated equity. This implies that these purchasers' capacity to buy new homes hinges more on the appreciation of their present property’s value rather than minor fluctuations in interest rates.


 Overall, this seems to be yet another advantage of purchasing now – as lower interest rates will boost lending ability and likely raise property values.

<h2 class="">
 
 3. Forecasted prices for 2025
 
</h2>

 Therefore, what’s the approach to stay ahead of market indicators? Kushner highlights the significance of monitoring key economic factors such as clearance rates and property prices, alongside the quantity of listings and the speed at which homes are being sold.


 Smith points out the significant demand from purchasers, especially in Sydney, who have been awaiting the ideal moment to buy.

<blockquote>
 
 We view 2025 as the chance for them to seize this opportunity. There has been a rise in inquiries regarding pre-approvals and from first-time buyers, leading us to anticipate that this will boost demand, resulting in higher property values.
 
</blockquote>

 Jennison predicts that property markets characterized by limited availability and comparatively higher affordability, where local purchasers aren’t overly strained financially, stand a greater chance of experiencing steady value increases.


 Thornley is straightforward: "Forecasting home values is an unwise pursuit... nonetheless, present signs point towards modest increases with variations between cities. Regardless, it's essential to concentrate on the fundamental aspects of a particular property over the long term."

<blockquote class="--standout">
 
 Once more, it’s about WHAT you purchase (a quality single property) rather than WHEN you purchase it (attempting to predict the market – including city trends).
 
</blockquote>

 Even though there are some drawbacks, this seems to add another point in the "pro" column.


 Given the information presented earlier, it appears that purchasing a property at this juncture might be advisable if you possess the means to do so. However, everyone understands that deciding to buy is merely part of the solution. Several additional elements come into consideration here.

<h2>
 
 4. Property types
 
</h2>

 Kusher thinks that although reduced interest rates will be advantageous for various kinds of properties, homes—especially those in more expensive regions—are likely to experience the most significant increases in value. This is due to the longstanding preference among individuals to purchase a house over other forms of real estate.


 Instead of concentrating on particular kinds of properties, Smith highlights the significance of grasping local demand. He points out that various regions have distinct requirements when it comes to real estate.

<blockquote>
 
 When discussing different property categories, it often boils down to the dynamics of supply and demand. The number of homes available is restricted, while numerous families urgently aspire to enter this sector.
 
</blockquote>

 I believe that standalone houses and bigger townhomes for those looking to downsize will consistently see high demand," he states. He points out that people buying in regional areas often value more space, whereas purchasers in urban centers might lean towards apartment living.


 Thornley further notes that large apartment complexes frequently sell based on stamp duty concessions or tax deductions for wear and tear rather than their potential as solid investments. "The cost of construction has skyrocketed, and the value of the land in these tower blocks is minimal, which means limited opportunities for appreciation. It’s best to steer clear of them. Additionally, student housing will likely face challenges due to decreases in international student numbers, and many cannot secure financing since they typically fall under 40 square meters, thus offering little room for significant gains," he explains.

<blockquote class="--standout">
 
 In conclusion, the sector that consistently excels is the one that capitalizes on true land shortage.
 
</blockquote>

 Jennison also notes that no particular property type excels in every market since their performance differs based on location.

<blockquote>
 There isn't a universal solution because understanding the specific local markets is crucial. The real estate landscape varies across different regions of Australia.
</blockquote>
<h2>
 
 5. Geographic insights
 
</h2>

 In 2024, the Australian real estate landscape presented contrasting scenarios: cities like Sydney, Melbourne, Hobart, and Canberra saw modest increases, whereas Brisbane, Adelaide, and Perth witnessed substantial price hikes reaching into double digits. As we look ahead to 2025, Kusher anticipates that Brisbane, Adelaide, and Perth will maintain their strong performance, primarily due to constrained availability which sustains high pricing in those regions.

<blockquote>
 
 There’s a high chance they will continue to outshine other markets primarily due to the limited supply of properties currently up for sale.
 
</blockquote>

 Smith observes a change in focus among real estate experts and purchasers, showing heightened interest in Sydney and especially Melbourne. Jennison suggests that although alterations in nationwide interest rates affect every city, localized economic elements like employment expansion, construction initiatives, and residential availability play a more crucial role in determining price fluctuations.

<blockquote class="--standout">
 
 We might still witness a two-tiered market dynamic in 2025.
 
</blockquote>

 She reinforces the view that both Brisbane and Adelaide will keep up their pace:

<blockquote>
 
 Brisbane, specifically, is drawing more focus because of the 2032 Olympics and the accompanying surge in infrastructure development. Despite some recent lagging performance, Melbourne might see a resurgence; however, governmental policies and supply factors continue to pose challenges.
 
</blockquote>

 Thornley also points out that all urban marketplaces operate in cycles, with local elements being the primary influencers on geographical demand. He mentions that many rural regions experienced significant growth during the pandemic period when numerous remote employees moved into these locations (take Byron Bay for instance). However, certain rural zones now confront potential risks since workers are returning to metropolitan centers. Additionally, their economic stability often relies significantly on specific industries such as farming, mining, or hospitality. Should these key sectors encounter difficulties, this could lead to fluctuations in real estate prices.

<blockquote>
 “
 
 If you truly comprehend those local factors, sticking with the major cities along the eastern seaboard—such as Sydney, Melbourne, and Brisbane—is still your safest choice. These locations see rising property values due to their varied economic activities and increasing populations over time.”
 
</blockquote>
<h2>
 
 Is it about finding the perfect timing, or securing the ideal property?
 
</h2>

 As the old saying goes, the ideal moment to invest in real estate was two decades ago. However, it genuinely appears that the second-best time would be right now.


 As interest rates decline, borrowing capabilities increase, and a market previously skewed by lack of supply is poised to reach balance (or possibly overcorrect), this appears to be an opportune moment for buyers that may not present itself again anytime soon.


 It might seem unusual to mention this, especially considering that national home values have reached an all-time high, yet for individuals with certain adaptability, whether it be regarding the kind of property or location, there are still numerous choices available.


 Therefore, conduct thorough research, understand your target market, and concentrate on prime locations with superior quality assets. Everything else is essentially beyond your influence.


 
 Are you considering purchasing a property this year? Share your thoughts in the section for comments down below.
 

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Is Now the Perfect Time to Buy Property in Australia?

Unknown business, investing, investors, real estate, real estate market

Ever since I joined Livewire, one of the frequent queries I've received from acquaintances and relatives is, "Is this a good time to purchase real estate?" Regardless of whether it’s their primary r…

11 Home Design Secrets That Can Boost Your Selling Price, Says Top Real Estate Pro

Unknown home buying, home design, home renovation, real estate, real estate market

We're all about embellishing your living space.
 your own maximum enjoyment
 , however, we recognize that homeowners might have varying preferences regarding what they choose to do or refrain from doing for their property’s upkeep.
 resale value
 .
 Selling your home
 can be stressful enough. From engaging a realtor to understanding the
 optimal moment to put your house on the market
 From having your home appraised to passing each inspection, it's quite an undertaking. Therefore, if there are tasks that can be delegated, we recommend doing so, particularly if they could ultimately earn you more money over time.
 
 
 Following an analysis of over 2 million properties put up for sale in 2024,
 Zillow
 has recently been released
 report
 On which keywords help increase a house's selling price, research shows that buyers are no longer seeking generic properties. "This year's analysis highlights that daring design decisions are making an impact on purchasers," notes Amanda Pendleton, Zillow's specialist in housing trends. Distinctive building materials and decorative elements are now preferred by typical buyers. Rather than
 granite
 And with marble countertops, buyers are now leaning towards quartz and soapstone instead, and they favor Venetian plaster over ordinary painted walls.
 
 
 These characteristics indicate a shift away from the contemporary farmhouse style towards a fresh appearance rooted in
 organic modernism
 Pendleton states, "This design is characterized by the employment of natural stones, abundant wooden elements, and textured walls."
 
 
 In essence, Zillow discovered that homes with a particular term in their listings fetched prices above expectations. Specifically, properties described as "remodeled" ended up selling for 3.7 percent more than anticipated.
 more than the Zestimate
 .
 
 
 This doesn't imply that you ought to hurriedly replace your granite countertops with soapstone ones or install an outdoor shower in your backyard. It simply suggests that if your home has particular custom or standout elements, you may fetch higher prices when selling it than initially anticipated.
 
 
 Continue reading to discover 11 key terms you should certainly include in your property listing to maximize your earnings from the sale of your home.
 
 
 Additional copy by
 Kate McGregor
 .
 
 <h2 class="body-h2">
 Remodeled
 </h2>
 <img data-document-id="cms/api/amp/image/AA1BNjR9" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1BNjR9.jpg"/>
 
 
 Percent Above Asking: 3.7
 
 
 
 
 Average Cost to Complete:
 
 Home renovation costs can range from
 
 $19,488 to $88,406
 
 , according to
 Angi
 It varies based on the size of your house and the number of rooms being remodeled. Typically, the cost for an average renovation project is
 
 $52,272
 
 .
 
 
 If potential purchasers notice right away that your home is modern and fully prepared for moving into, they will find it more appealing. Ensuring that you emphasize any recent renovations in the property listing might help you achieve prices up to 3.7 percent above your asking price.
 
 <h2 class="body-h2">
 Wet Room
 </h2>
 <img data-document-id="cms/api/amp/image/AA1BNfcT" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1BNfcT.jpg"/>
 
 
 Percent Above Asking: 3.3
 
 
 
 
 Average Cost to Complete:
 
 The typical expense for setting up a wet room in your house is
 
 $13,000
 
 , according to
 Angi
 However, this relies on the size of the area you desire.
 
 
 Buyers no longer seek that "sterile spa" aesthetic; they prefer spaces that feel warmer and more refined rather than just minimalist. Incorporating a wet room into one of your bathrooms could boost your home’s resale value by approximately 3.3%.
 
 <h2 class="body-h2">
 White Oak Flooring
 </h2>
 <img data-document-id="cms/api/amp/image/AA1BNb11" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1BNb11.jpg"/>
 
 
 Percent Above Asking: 3.2
 
 
 
 
 Average Cost to Complete:
 
 According to
 Angi
 , the typical expense for installing a hardwood floor is
 
 $4,726
 
 When focusing on white oak specifically,
 House Digest
 reports that solid white oak will cost you
 
 ranging from $4 to $8 for each square foot
 
 .
 
 
 White oak is known for its durability and attractiveness, offering hues ranging from light browns to rich reddish-browns that appeal greatly to potential buyers. Its robust nature means it withstands everyday use without showing much damage, making it versatile enough to match various interior styles. Should your property feature white oak floors, highlight this fact in your description as it might help you achieve up to 3.2 percent more than your listed price.
 
 <h2 class="body-h2">
 Teak
 </h2>
 <img data-document-id="cms/api/amp/image/AA1BN8iN" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1BN8iN.jpg"/>
 
 
 Percent Above Asking: 3.1
 
 
 
 
 Average Cost to Complete:
 
 Teak hardwood flooring will cost you approximately
 
 $11 to $20 for each square foot
 
 , according to
 HomeGuide
 .
 
 
 Teak wood is prized for its resilience, appealing look, and versatility. Its ability to withstand moisture and resist insects makes it popular choice for premium furnishings as well as exterior building projects. Due to these qualities along with its origin from tropical regions and strong, lengthy planks, teak tends to be quite costly. If you're selling your home, ensure you highlight any teak elements present, which could boost your valuation by approximately 3.1%.
 
 <h2 class="body-h2">
 Venetian Plaster
 </h2>
 <img data-document-id="cms/api/amp/image/AA1BNhGl" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1BNhGl.jpg"/>
 
 
 Percent Above Asking: 3.0
 
 
 
 
 Average Cost to Complete:
 
 According to
 Angi
 , it costs
 
 $700
 
 On average, applying Venetian plaster costs between $585 and $815, varying with the scale of the job and labor expenses.
 
 
 Enhance the custom elegance of your residence by highlighting
 Venetian plaster
 Pendleton particularly highlights that textured walls are a feature homebuyers desire, intensifying competition and increasing the selling price. Incorporating Venetian plaster into your interior might boost your sale value by approximately 3 percent.
 
 <h2 class="body-h2">
 New Appliances
 </h2>
 <img data-document-id="cms/api/amp/slideshow/AA1BN6in" data-reference="slideshow"/>


 
 
 Percent Above Asking: 2.7
 
 
 
 
 Average Cost to Complete:
 
 The typical expense for purchasing new household appliances amounts to
 
 between $2,100 to $5,400
 
 , according to
 HomeGuide
 For just the installation cost by itself, it works out to an average of
 
 $209
 
 , according to
 Angi
 .
 
 
 As with the keyword
 remodel
 Promoting your new appliances in your home’s listing can boost your asking price by approximately 2.7 percent. Nobody wants to become attached to a house only to discover they’ll need to invest several thousand dollars in new appliances after moving in. It's preferable for buyers to enter the process aware that they will be acquiring contemporary amenities.
 
 <h2 class="body-h2">
 Soapstone Countertops
 </h2>
 <img data-document-id="cms/api/amp/image/BB1oOppP" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/BB1oOppP.jpg"/>
 
 
 Percent Above Asking: 3.5
 
 
 
 
 Average Cost to Complete:
 
 Soapstone slabs
 cost
 
 $70 to $120 for each square foot
 
 on average, according to
 Caesarstone
 To install a soapstone counter,
 Angi
 indicates that it will cost you anywhere from
 
 $2,100 and $7,200
 
 .
 
 
 Soapstone is rapidly emerging as the premier choice for kitchen countertops. It has gained popularity among both designers and culinary experts alike.
 Bobby Flay
 Similar to renowned chefs like Ina Garten and Martha Stewart, soapstone stands out due to its durability compared to marble and its ease of cleaning relative to other stones. According to Pendleton, "When it comes to choosing a countertop material, soapstone surpasses quartz, resulting in a sales premium of 3.5 percent compared to quartz’s 2.6 percent."
 
 <h2 class="body-h2">
 Outdoor Shower
 </h2>
 <img data-document-id="cms/api/amp/image/BB1oOsHO" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/BB1oOsHO.jpg"/>
 
 
 Percent Above Asking: 2.8
 
 
 
 
 Average Cost to Complete:
 
 The typical expense for setting up an outdoor shower, inclusive of installation, amounts to
 
 between $1,000 and $5,000
 
 , according to
 House Digest
 .
 
 
 In today’s market, purchasers seek the relaxed vibe of a coastal retreat right at home. Installing an outdoor shower may encourage buyers to bid up to 2.8 percent higher than the listed price.
 
 <h2 class="body-h2">
 Bluestone Patio
 </h2>
 <img data-document-id="cms/api/amp/image/AA189LfZ" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA189LfZ.jpg"/>
 
 
 Percent Above Asking: 2.2
 
 
 
 
 Average Cost to Complete:
 
 According to
 HomeGuide
 , bluestone pavers cost
 
 $6 to $14 for each square foot
 
 on average.
 
 
 Although patios often end up being constructed from bricks, concrete, or various types of stones, bluestone stands out as an upscale option made from natural stone. Despite its higher cost compared to other patio materials, this robust material offers an attractive return on investment. Properties featuring a bluestone patio might fetch prices that exceed expectations by about 2.2%.
 
 <h2 class="body-h2">
 Quartz Countertops
 </h2>
 <img data-document-id="cms/api/amp/image/BB1oOvfM" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/BB1oOvfM.jpg"/>
 
 
 Percent Above Asking: 2.6
 
 
 
 
 Average Cost to Complete:
 
 You might have to spend anything from
 
 $50 to $200 per square foot
 
 depending on material size, coloring, and grade,
 according to Angi
 .
 
 
 Even though soapstone is currently the top choice for countertops, this does not imply that quartz has become less valuable. Actually, incorporating quartz into your kitchen or bathroom could lead to your home being sold at a price 2.6 percent higher than the listed one.
 
 <h2 class="body-h2">
 Outdoor Kitchen
 </h2>
 <img data-document-id="cms/api/amp/image/BB1oOsHY" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/BB1oOsHY.jpg"/>
 
 
 Percent Above Asking: 2.2
 
 
 
 
 Average Cost to Complete:
 
 According to
 Angi
 The typical range for the cost of an outdoor kitchen falls between
 
 $6,348
 
 for a basic configuration (like a grill and countertop), and
 
 $26,903
 
 For an upscale outdoor kitchen setup.
 
 
 Outdoor kitchens expand your cooking capabilities and your area for hosting guests. Despite significant differences in design and features, even a basic setup can prompt buyers to bid approximately 2.2 percent higher than the listed price.
 
 
 
 Follow
 
 
 House Beautiful
 
 
 on
 
 
 Instagram
 
 
 and
 
 
 TikTok
 
 
 .

11 Home Design Secrets That Can Boost Your Selling Price, Says Top Real Estate Pro

Unknown home buying, home design, home renovation, real estate, real estate market

We're all about embellishing your living space. your own maximum enjoyment , however, we recognize that homeowners might have varying preferences regarding what they choose to do or refrain f…

Selling Luxury Homes in America's Riskiest Areas: The Ultimate Challenge

Unknown disasters, home and property, news, real estate, real estate market

Welcome to your ideal home makeover!


 Here's the description for a five-bedroom beachfront estate listed at $6.5 million on Sanibel Island—a location along Florida’s western shore that suffered extensive damage from Hurricane Ian in 2022, followed by Hurricanes Helene and Milton in 2024.


 When the roof collapsed during a storm, causing water damage inside the house, raising the building might be necessary, according to Yvonne Burnham from DomainRealty, who authored the listing. Most of the property’s value lies in the land itself, she explains, estimating it at around $4 million due to its size—an entire acre—and prime location offering unobstructed ocean vistas directly accessible from the site.

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 Hurricanes, wildfires, mudslides, and flooding have impacted many desirable residential areas across the nation, including pristine white-sand shores in Florida, stunning peninsulas in California, and mountainous regions in North Carolina. Properties once considered quick sells are now more challenging to market effectively, particularly as the remnants of burned structures linger with their acrid smells or local enterprises remain shuttered long after the disasters occurred.


 The task of making sales in these regions has become even tougher due to heightened awareness about the dangers posed by climate change. A study commissioned by Redfin from Ipsos, which surveyed 2,000 homeowners and renters in September 2024, reveals that 56% of Millennials and 50% of Generation Z respondents indicated that climate change influences their choice of living location. Conversely, just 31% of Baby boomers and 40% of Generation X expressed similar concerns, as stated by Daryl Fair weather, who serves as Redfin’s chief economist. This finding aligns with a previous report published by Redfin in 2022, indicating that homebuyers equipped with information regarding flood risk tend to opt for properties less prone to flooding.


 In regions affected by natural calamities, striking a balance between promotional tactics and factual accuracy can be quite nuanced. Real estate professionals aim to cater to both property owners and potential purchasers by employing various techniques intended to present houses in an appealing manner. However, they typically mention, oftentimes discreetly at the end of the listing details, that there could potentially be certain "problems."


 The wildfires that ravaged Pacific Palisades, Malibu, and Altadenain January posed a significant challenge for real estate professionals. Ruslan Shkurenko, an agent at Carolwood Estates, owns a listing for a two-bedroom, 1,708-square-foot property in Pacific Palisades priced at $2.35 million. While his promotional materials describe it as situated in "one of Los Angeles's most sought-after areas," this wording must be updated, according to him.


 The residence sustained partial damage; however, it stands amidst debris, he mentions. Given the inevitable construction-related commotion expected over the coming several years, he states, "It’s going to be challenging." In fact, everything around has been entirely incinerated. The seller intends to maintain the listing of the home, implying that Shkurenko must determine an adequate pricing strategy. He notes that at present, aside from some opportunistic bidders who contacted him with offers of $400,000 for the place, he hasn’t received inquiries from potential buyers in the Palisades area.


 Certain outdated property listings remain active on real estate platforms despite the homes having been demolished due to disasters. According to Susan Kastner, a real estate agent at Compass, sellers aim to keep these listings accessible so that insurance firms can review the photographs and information to assess the former value of the properties. She cites an example from her own experience where a listing in Pacific Palisades persisted on Zillow for approximately two months post-Palisades Fire, advertised at $5.959 million without disclosing that the residence had been obliterated by flames. "It’s beneficial too when marketing land to include some pictures showcasing what the structure used to look like prior to the blaze, particularly if potential buyers intend to reconstruct it exactly as it was," she explains.

<img data-document-id="cms/api/amp/image/AA1B2EmY" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1B2EmY.jpg"/>
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 In the Portuguese Bend Beach Club area of Rancho Palos Verdes, California—a region heavily affected by ongoing landslides—one luxury property stands out: a $2.599 million residence spanning two bedrooms over 1,159 square feet. Its promotional description begins with "location, location, location." As per the listing details, this abode boasts an expansive 180-degree vista of both sea and sky, along with recent submissions to local authorities regarding renovation plans aimed at addressing small-scale earth movement damage. Nevertheless, potential buyers might not learn from the listing that significant portions of the community remain without electricity or natural gas due to precautionary cutoffs implemented by utilities back in the previous year. This particular dwelling will go under auction as-is; however, whether these essential services have been reinstated remains uncertain. Efforts to seek clarification directly through the listing representative were met with silence.


 In a part of Rolling Hills where concerns about ground instability led to cutoffs of gas and electricity for several residences, a spacious four-bedroom home spanning 3,165 square feet is up for grabs at a price tag of $3 million. This property is marketed as "an opportunity to become entirely self-sufficient and environmentally friendly." Initially priced at $4.15 million when it first hit the market back in June, the asking price has been reduced by approximately $1 million due to slower sales. Currently under contingency—meaning specific conditions have yet to be met—the prospective purchaser intends to live in this place rather than invest with resale in mind. According to Leslie Stetson, the listing agent representing Berkshire Hathaway HomeServices, the future owner will reside here themselves instead of flipping it for profit.


 Stetson mentions that it was challenging to sell the property lacking utility services. She also states that she has never recommended whether someone should purchase or avoid properties in areas experiencing ground shifts since "she’s not a geologist." Nonetheless, she describes the home as being located in a tranquil setting with breathtaking vistas. Stetson acknowledges that some individuals might be ready to accept such risks. She concludes by saying, "Everyone is entitled to make their own choices."


 Certain real estate agents in the regions affected by landslides are adopting a proactive strategy for marketing damaged properties. They are obtaining cost estimates and arranging for contractors who can implement improvements they believe will reduce the physical susceptibility of these homes to further land movement.


 Charlie Raine is representing a $2.25 million property, a spacious five-bedroom, 4,000-square-foot home located in Portuguese Bend, an area particularly devastated by the recent Palos Verdes Peninsula landslides. This Tuscan-styled mansion, offering beautiful ocean vistas and steeped in history, experienced significant damage as cracks appeared throughout its exterior areas. In order to tackle this problem head-on, Raine highlighted in the promotional materials that the homeowner "rose to the challenge" by fitting so-called 'helical' piers, which appear to have stabilized the situation according to the listing details.


 Raine informs potential buyers that he has obtained engineering designs for reinforcing the house with steel beams as an alternative to using piers, adding that these plans "can be utilized if necessary." This additional work might cost less than a million dollars, according to him. The property experienced a price reduction of $250,000 back in January and has lacked electricity and gas since last summer. While several individuals have shown interest mainly due to the home’s historical significance and its century-old architectural charm, Raine emphasizes that although the original design remains intact and appeals to those who value such qualities, purchasing this residence will require significant investment. His aim is to help future owners understand ways they could potentially preserve the structure more effectively. "This isn’t the end," he comments optimistically.


 The promotional description for a property in the Seaview area of Rancho Palos Verdes, which Raine is selling, noted that the home had experienced issues due to ground instability. However, it also stated that "various techniques can be employed to reinforce the foundation and separate the impacted section of the dwelling from further movements." The Seaview residence has now been marked as unsafe to occupy, indicating an official condemnation.


 In an effort to boost sales, real estate professionals operating along Florida’s western coastline, particularly in regions prone to hurricanes, are presenting themselves as experts capable of guiding homeowners through making their properties more resilient against storms. According to Tiffany Burns, a real estate advisor affiliated with Premier Sotheby’s International Realty located in Captiva, Florida, her group provides clients with a catalog of so-called mitigation strategies. These include raising the home above ground level or installing flood barriers at entry points such as doors and windows.


 In storm-ravaged regions, understanding the listing descriptions may demand close attention; terms like "the home experienced no harm from recent storms" frequently appear in properties listed around Sanibel Island and neighboring Fort Myers Beach. This refers specifically to the impacts of Hurricanes Helene and Milton in 2024, excluding the catastrophic effects of Hurricane Ian back in 2022, according to local real estate professionals. Additionally, you might encounter the phrase "As Is Where Is," indicating that the property is offered in its current state with limited guarantees about its condition from the seller.


 One hurdle for agents in disaster-affected regions is marketing. Additionally, finalizing current sales following such events poses another difficulty.


 
 Marilyn C. Wright, a real estate agent working with Premier Sotheby’s in Asheville, North Carolina, found herself dealing with an unusual challenge when Hurricane Helene hit in September 2024. She had listed a property under contract just outside of Linville, also in North Carolina. This particular residence—a spacious 5,200 square foot, four-bedroom sanctuary constructed from stone and timber—sat majestically across over five acres atop a ridge. Built back in 2007, this impressive abode relied solely on generator power and sat along a roadway obstructed by toppled trees. Nearby homes suffered roof damage as well.
 
 To finalize the sale worth $14 million, Marilyn needed reliable communication despite the lack of internet or cell coverage around her listing. As a result, she made a trip to Charleston, South Carolina, where she could better manage communications via limited AM radio broadcasts. "We were down to relying entirely on AM radio," she recalls. Despite these hurdles, closing took place after what felt like an intensely challenging period lasting nearly four days.

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 In the wake of the storm, Wright emphasizes that the key factor has been personally visiting the homes she was listing to assess the extent of the damage. She has had to manage every detail—from recruiting neighbors with chainsaws to clear fallen trees to arranging roof repairs and ensuring propane tanks are secured—to maintain the viability of these potential sales. Her relationships with contractors enabled her clients to expedite their tasks. "Despite whatever is happening globally, people continue to have plans, wishes, and timelines," she states. "This situation demands our utmost effort."

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 Art Carter, the CEO of California Regional MLS—a platform serving more than 100,000 members—stated that their team consists of 20 individuals dedicated to monitoring listings. They ensure agents adhere strictly to the National Association of Realtors' Code of Ethics, emphasizing principles like integrity and honesty. According to him, penalties for infractions such as breaching the Fair Housing Act or utilizing unauthorized photographs can be assessed at amounts ranging from $100 to $2,500. Despite these rules, he noted they've had to show flexibility recently due to challenging circumstances caused by wildfires across parts of California. However, efforts continue toward keeping all listed data current.


 The effects of natural disasters can complicate the process of selling a home, even if it’s located far away. Gayle Probst currently has an offering for a four-bedroom, 2,497-square-foot property priced at $1.995 million in a community known as Ladera Linda. This area lies approximately one mile from an ongoing landslide impacting part of the Seaview district on the Palos Verdes Peninsula.


 The property hit the market recently, and she believes it'll attract buyers soon; however, it could require extra patience as potential purchasers often misinterpret the extent of the landslide zone. "Many assume the entire Seaview neighborhood is sliding down the slope, which isn't true at all," she explains. "It's absurd."


 
 Write to
 
 Nancy Keates at
 Nancy.Keates@wsj.com

Selling Luxury Homes in America's Riskiest Areas: The Ultimate Challenge

Unknown disasters, home and property, news, real estate, real estate market

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