Joan Sather Real Estate

One of the oldest homes currently listed for sale in Pacific Palisades is an adorable Cape Cod complete with a picket fence in the 600 block of Via de la Paz. Built in 1939, the house has three bedrooms, two baths, a formal dining room, an eat-in kitchen and a nice large living room.

The current list price: $1,195,000. I represented the then-owners in 1997 and we sold it for $620,000! Not at all a bad investment of six years. Some quick math will conclude a gain of at least $250,000 after loan costs and other expenses. This is even more impressive when the original 20 percent - $124,000 - is factored as the only money “put up” to do this. And in this analysis, the owner has lived rent-free in the Palisades.

Speaking of rent, if you had paid an average of $3,000 per month over a six-year period for an equivalent Palisades home, your out-of -pocket total would be $216,000. But as an owner, you would put the aforementioned $250,000 in your pocket. And some people, after six years, would take out a home equity loan and use it to purchase another home. It’s a win-win!

Joan Sather has represented sellers and buyers for the past 17 years. She can be reached at 310-573-7466.