Pacific Palisades, Where Sea meets Sky!
Demographics : The top 20% income in Pacific Palisades is currently ~$294,500. The average FICO here is 789. The average loan amount is $890K. Usually, clients from this area, have net worths greater than $650K. Total household incomes do not include company earnings, distributions, and or passive investments. Pacific Palisades is gorgeous. It's truly breathtaking. You have treelined properties with gorgeous views of the pacific ocean. On a clear day you can see 5, to ten miles of ocean views. This city is highly affluent, this is a builders dream. Large lots and older homes, within this secluded enclave is truly a place to live, and possibly retire. One word that describes Pacific Palisades would be
Weather : The high temperature is nearly 79°F year round, with a low-average temperature of 51°F.
Why buy here? Pacific Palisades is located between Santa Monica Mountains and the Pacific Ocean. The location in compromised of 24 square miles with a population of roughly 30,000. Location wise, it's within a short drive to Santa Monica, Malibu, Beverly Hills, Venice, Mar Vista, Culver City, and Century City. Home appreciation has skyrocketed in the last 5 years in this town. From 2020-2021, Pacific Palisades has increased 65%. The average price of a home is $4,000,000. Most loan amounts ranges between $3,200,000 and $3,000,000. If you buy a home here for $3,750,000- and let's assume that appreciation will increase by 35% in this market in the next year and 20% there after for the next two years? How much will the home or investment be valued at? $7,279,000. Over $3.5M in pure gained equity. When you here, LOCATION, LOCATION, LOCATION-think Pacific Palisades. This place isn't just for the elite bankers, hedge fund managers, private equity anymore, it's for tech staff, founders of tech- entrepreneurs, blue collar millionaires, family doctors, attorneys and other self-made millionaires.
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