With summer upon us, the California housing market continues to rebound, and home sales are up all along the Southern California coast.
The June/July issue of Ocean Home Magazine featured The Agency’s CEO and Co-Founder, Mauricio Umansky, talking about luxury coastal real estate in today’s market. The piece, entitled “The Dream Teams,” notes:
“Last year alone, three award-winning realtors and their hugely successful companies [The Agency, The Jills] sold more than $930 million of luxury coastal real estate between them.” Mauricio Umansky alone sold more than $380 million in real estate last year, ranking him among the top three in the U.S., according to the REAL Trends/“The Wall Street Journal” 2013 Top 1,000 list.
One of the driving forces in this trend, according to Umansky, is the lack of coastal inventory. “One thing’s for sure, God is not making any more land, especially on the coast,” he notes. “It’s prime land, people love it, and they want to live by the ocean. We’re seeing a complete resurrection of the real estate market, and coastal communities in the United States are coming back with a vengeance.”
The article also highlights the oceanfront vacation homes at Terranea Resort, a world-class getaway 30 minutes from Los Angeles, tucked on the scenic coast of the Palos Verdes peninsula.
“Umansky is also seeing growth in vacation homes,” Ocean Home writes, “such as Terranea Resort in Rancho Palos Verdes, Calif., and Hacienda Beach Club and Residences in Cabo San Lucas, Mexico, which The Agency represents.”
Read the full Ocean Home article here.