Valmonte Magazine : Where do you see the real estate market headed in our area this year?
Rick Edler : Valmonte should be steady and balanced in 2010, with 2011 and 2012 being banner years, though we need more ‘move-up’ buyers; 83% of the sales in 2009 were distress sales and these don’t create new buyers. We will probably see less of this in 2010. Currently, 53% of our buyers are involved with these distress sales. and it will likely continue to improve, assuming banks continue to lend.
Valmonte Magazine : How do you view home ownership?.
Rick Edler : First and foremost as shelter and for the enjoyment of its surroundings. Second, as an investment with 2010 being the largest High School Graduating class, we are still a decade away from new home buyers.
Valmonte Magazine : What do people love so much about Valmonte?
Rick Edler : Quick off the hills, tree’s, young families and the character of the neighborhood. These are all reasons Valmonte also has a high rate of families changing homes within the neighborhood.
Rick Edler has lived in Palos Verdes much of his life, graduating from PV High. He did Undergraduate work at USC in his double major - Entrepreneurship and International Marketing. He started in real estate with his mother, Kitty, at ReMax. Together they built the business until it became the Edler Group in the late 90’s. Moving forward, Rick went to Shorewood Real Estate to try his hand at his own business. Eventually he approached Sotheby’s and they elected to give him Peninsula Sotheby’s boutique. He is now the president and CEO of Sotheby’s Manhattan, Redondo, South Bay and PV and oversees all operations of the business. His sixteen years of real estate experience secured him the honor of Realtor of the Year for 2009 by Realtor Magazine. Rick is on the board of the Palos Verdes Peninsula Board of Realtors, Silverdes, L.L.C. (a real estate development firm), Merryweather Properties, Inc. (a real estate investment firm), the Bank of Palos Verdes and the Neighborhood Church board of trustees and is director of MSMLS, Inc. (Multi-Regional Multiple Listing Service, Inc.).
Married with four kids; Gracie (8), Charlotte (7), Mark (4 and named after Rick’s brother) and Sofie (4) Rick has a very full life!
Offices are located at 608 Silver Spur Road, Suite 250 in Rolling Hills Estates, Ca. 90274. The phone number there is 310.541.8271.
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