Maureen Megowan, Realtor, Palos Verdes, South Bay Real Estate, DRE #01368971

Original Palos Verdes Project Plans called for additional commercial plazas

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Fri, 13 Nov 2009 16:35:55 -0600

The original master plan envisioned three major business centers in Malaga Cove, Valmonte, and Lunada Bay, with minor business centers in Margate, Miraleste, and Montemalaga. The Lunada Bay Plaza area was originally going to be constructed at Via Mirola and was to be a grand plaza with several large buildings, but was ultimately constructed on a scaled down basis a bit north at Yarmouth Road.

1920's advertisement for Lunada Bay (Picture Courtesy of Palos Verdes Peninsula Library District). Thisd was the original plan for the Lunada Bay Plaza to be built on Via Mirola.

The only business centers originally planned for the Palos Verdes Project which were constructed were at Malaga Cove, Lunada Bay, and Miraleste.

Original plans for Valmonte Plaza (Picture Courtesy of Palos Verdes Peninsula Library District)

In addition to the early planned districts of Valmonte, Malaga Cove, Margate, Lunada Bay and Miraleste, located in the current City of Palos Verdes Estates,there were several other planned districts, now part of Rancho Palos Verdes, called "Telarana" (near the Point Vicente lighthouse), "Taravel" (near Long Point), "Cabrillo" (near Portuguese Bend) and "Altamira" (near the Peninsula Center shopping center).

For additional information aboutr the history of Palos Verdes, go to HISTORY OF PALOS VERDES ESTATES

For more nformation about Palos Verdes and South Bay Real Estate and buying and selling a home on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com . I try to make this the best real estate web blog in the South Bay Los Angeles and the Palos Verdes Peninsula. I would love to hear your comments or suggestions.

Property tax Exemptions to Reduce your Property Tax Bill in South Bay of Los Angeles - 3rd in a Series

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Thu, 12 Nov 2009 19:48:11 -0600

MAINTAINING YOUR EXISTING PROPERTY TAX BASIS IF YOU ARE 55 OR OLDER AND SELL YOUR PROPERTY
Proposition 60, passed in 1986, and modified by Proposition 90, passed in 1988, allows "qualified" individuals over the age of 55 to transfer the base year assessed valuation from a former residence ("original property") to a replacement residence, of equal or lesser value and that meet other certain conditions. Link: http://www.smcare.org/library/pdfs/Broch-Props_60-90-110_v_BG-PK.pdf which discusses this issue in detail. Effective January 1, 2007, claims must no longer be filed within 3 years, however if the claim is filed after 3 years, relief will be granted beginning with the calendar year in which the claim was filed. In addition, any upgrades paid by the buyer outside of escrow and not reflected in the sales price must now be reported on the Preliminary Change of Ownership Report so as to be included in the determination of the "equal or lesser value" test.

HOMEOWNER'S EXEMPTION ON PROPERTY TAXES
If you own a home and occupy it as your principal place of residence on January 1, you may apply for an exemption of $7000 off of your assessed value. This will save you over $70 a year on your property taxes. All you need to do is file a simple one page form with the county tax assessors office. For information click on this link at the L.A. county assessors office: http://www.lacountyassessor.com/extranet/guides/exemptions.aspx . For a copy of the form to be filed you must call the L.A. County Tax Assessors office at (213) 974-3211 and request that a form be mailed to you. The form is not available on the internet. If you do not know if you have a homeowners exemption on file, go to the assessormap link in the first paragraph above, and review the property tax information for your property.

PARENT TO CHILD TRANSFER EXEMPTION
Under Propositions 98 and 193, property transferred between parents and children (Proposition 58, effective 1986) and from grandparents to grandchildren (Proposition 193, effective 1996) is not reassessed for property tax purposes. In order to take advantage of this, however, a claim must be filed with the county tax assessors office. The exemption to reassessment is 100% of the assessed value for the parents/grandparents principal residence plus the first $1,000,000 of assessed value for other property transferred. This is, of course, only for California property.See http://www.lacountyassessor.com/extranet/guides/prop58.aspx for additional information on filing this claim. For estate planning purposes, it is important to understand the details of this exemption. For instance, a family home left to several children as tenants-in-common would be eligible, however if some of the children sell their interest to the other child, the property would be reassessed for this interest sold. The exemption is only for parent to child, not child to child. Therefore, it would be advantageous to leave a family home, with a low property tax basis, to one child, and to leave other assets of comparable value to the other children.

DISABLED VETERANS EXCLUSION
If you are a California veteran who is rated 100% disabled, blind, or a paraplegic due to a service-connected disability (or if you are the unmarried widow of such a veteran), you may be eligible for an exemption of up to $150,000 off of the assessed value of your home.

BUILDERS EXCLUSION
Certain new construction may be excluded from supplemental assessment. The property must be for sale and the builder must file the necessary claim form with the Assessor's Office prior to or within 30 days from the start of construction. If the form is not filed, a supplemental assessment is sent to the builder upon completion of construction.

SEVERELY AND PERMANENTLY DISABLED EXCLUSION
A severely and permanently disabled person, who buys a new home, may be able to have his/her old assessed value transferred to the new home. You must file a claim.

DISASTER RELIEF
If a major calamity, such as fire or flooding, damages or destroys your property, you may be eligible for property tax relief. In such cases, the Assessor's Office will reappraise the property to reflect its damaged condition. In addition, when you rebuild it in a like or similar manner, the property will regain its pre-damage valuation basis for tax purposes. To qualify for property tax relief, you must file a Misfortune or Calamity Claim with the Assessor's Office within 12 months* from the date the property was damaged or destroyed. In addition, the loss must exceed $10,000* of current market value.

For more information on Property Taxes for the South Bay of Los Angeles, visit my website at Property Taxes

Appealing Your Property Tax Assessment in the South Bay of Los Angeles - 2nd in a Series

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Thu, 12 Nov 2009 19:41:02 -0600

The following are the steps to appeal your property tax assessment valuation in Los Angeles County:

1) Request the "Application for Changed Assessment" form.

2) You may select to see a Hearing Officer which expedites the appeal process or you may meet directly with the Appeals Board.

3) Mail the Completed Form to:
County of Los Angeles
Assessment Appeals Board
P.O. Box 53596
Los Angeles, CA 90053-0596

4) The Assessment Appeals Office reviews the application.

5) An appointment card will be mailed to you.

6) The Assessment Appeals Board recommends you attend a Public Education Seminar to help you with the Appeals process

6) Bring relevant evidence to support opinion of value.Hearings are conducted on a first come first serve basis. Feel free to contact me to obtain a current comparative market analysis of your property indicating its current value.

7) If you do not agree with the Hearing Officer's Recommendation, you can request a Board hearing within 14 days of the Hearing Officer's hearing date

8)The Board makes final assessment decision and approves or rejects Hearing Officer's Recommendations.

I would be happy to speak with you regarding the appeals process and to help you present your case for a reduction in property valuation. For more info on the appeals process, go to http://bos.co.la.ca.us/categories/propertytaxappeals.htm#

For more information on Property Taxes for the South Bay of Los Angeles, visit my website at Property Taxes

Property Taxes in the South Bay of Los Angeles - First in a Series

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Thu, 12 Nov 2009 19:21:33 -0600

Property Taxes in the South Bay of Los Angeles County are computed by the standard 1.0% of the property's assessed valuation (in accordance with Proposition 13, a property's assessed valuation is the original purchase price, plus the cost of improvements, based on the value of permits pulled, plus an increase in valuation of 2% per year) plus additional tax rates for voted bonded indebtedness, plus direct assessments such as school parcel taxes. Copies of building permits are sent to the Assessor. New buildings, additions, and other structures require an appraisal. Structural repairs and/or replacement are not appraisable in most situations. The assessed valuation of a property may also be decreased for one or more exemptions.

The following is the property tax rates and direct assessments for the cities in the South Bay: of Los Angeles

Palos Verdes Estates: The property tax rate for the fiscal year 2009-2010 is 1.055672% plus direct assessments of approx. $1,400-$1,600 per parcel for such items as school parcel taxes, fire suppression fee, emergency services tax, sewer fees and flood control.

Rancho Palos Verdes: The property tax rate for the fiscal year 2009-2010 is 1.055672% plus direct assessments of approx. $700-800 per parcel for such items as school parcel taxes, etc.

Rolling Hills Estates and Palos Verdes Peninsula: The property tax rate for the fiscal year 2009-2010 is 1.055672% plus direct assessments of approx. $600-700 per parcel for such items as school parcel taxes, etc.

Rolling Hills: The property tax rate for the fiscal year 2009-2010 is 1.055672% plus direct assessments of approx. $1,700-2,000 per parcel for such items as school parcel taxes, etc.. There is an additional assessment for the Homeowners Association for the City of Rolling Hills of ,2% (two/tenths of one percent) of the assessed value of the property which is billed separately by the Association, with installments due on 12/10 and 4/10. This assessment goes to maintain the private roads, the guard houses and personnel, and other city amenities within this private gated community.

El Segundo: The property tax rate for the fiscal year 2009-2010 is 1.075655% plus direct assessments of anywhere up to about $200-$300 per parcel for other misc. local taxes.

Manhattan Beach: The property tax rate for the fiscal year 2009-2010 is 1.059263% plus direct assessments of approx. $500-700 per parcel for such items as school parcel taxes, etc..

Hermosa Beach: The property tax rate for the fiscal year 2009-2010 is 1.036418% plus direct assessments of approx. $200-$300 per parcel for such items as school parcel taxes, etc..

Redondo Beach: The property tax rate for the fiscal year 2009-2010 is 1.074359% plus direct assessments of approx. $500-$1,600 per parcel for such items as school parcel taxes, etc..

Torrance: The property tax rate for the fiscal year 2009-2010 is 1.075651% plus direct assessments of approx. $300-400 per parcel for such items as school parcel taxes, etc..

San Pedro: The property tax rate for the fiscal year 2009-2010 is 1.220441% plus direct assessments of approx. $100-$200 per parcel for such items as school parcel taxes, etc..

Lomita: The property tax rate for the fiscal year 2009-2010 is 1.179221% plus direct assessments of approx. $400-$500 per parcel for such items as school parcel taxes, etc..

Taxes are assessed for the fiscal year running from July 1st through June 30th, with property tax bills payable in two installments on December 10th and April 10th. If a property changes ownership during the year, a supplemental tax bill will be prepared prorating the tax increase due to a change in valuation over the remainder of the fiscal year. If a change in ownership occurs between January 1 and May 31 this will result in two supplemental assessments and two supplemental tax bills. The first supplemental bill is for the remainder of the fiscal year in which the event occurred. The second supplemental bill is for the subsequent fiscal year.

ACCESSING PROPERTY TAX ASSESSMENT INFORMATION ON PROPERTIES
Click the link below to visit the L.A. County tax Assessors office web site. Enter an address (or if an address doesn't work, choose two cross streets near the address) and then click on the map parcel to see that parcel's assessed valuation. Then click on the tab for the 2004-2005 property tax bill. Link: http://assessormap.co.la.ca.us/mapping/viewer.asp

For more information on Property Taxes for the South Bay of Los Angeles, visit my website at Property Taxes

Terranea Resort to Offer Camps for Kids

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Thu, 12 Nov 2009 14:43:07 -0600

The Terranea Resort in Rancho Palos Verdes is offering camps for kids in various themes including movie production, video game creation, fencing, and Jedi training. Dates for these camps include the following: 2009 Camps: December 19- 23, December 26-30 (no Jedi or Fencing Camp 12/26-30) 2010 Camps: April 5-9, April 12-16, June 14-18 and June 21-25. The camps include the following:

Movie Production (Grades 7-10)
Film camp in California is perfect for anyone interested in making their own movies. Coordinated by Planet Bravo, students work in small production groups to plan, produce, edit and package their own short movies. All students leave camp with a DVD of their movie. Cost: $495 per student.

Video Game Creation (Grades 4-6):
Also coordinated by Planet Bravo, this camp teaches students how to make their own interactive video game. In a few simple clicks, they assign behaviors and conditions to their objects, and the game comes to life. All students leave this video game camp with their games online and on a USB drive. Cost: $495 per student.

Jedi Training Camp
In partnership with Swordplay Studio in Burbank, Terranea presents Jedi training camp for children ages 4-12. Campers create their own Jedi character and develop their balance and coordination through fun Jedi training games, and lessons in how to wield a light saber. Surprise visits from some of the favorite Star Wars characters, as guest instructors, make this an experience of a lifetime. Cost: $500 per participant.

Fencing Camp
Campers are introduced to one of Hollywood's favorite art forms- fencing! Students receive instruction in footwork and technique, take part in fencing drills and games, learn about the history of fencing and even compete in an in-class fencing tournament. Cost: $380 per participant.

A stay at this Southern California resort is not required to participate in the camps and no experience is necessary. A special $195 per room rate will be offered to all participants during the camp dates. Cost for the camps includes a buffet lunch each day. Reservations can be made at http://www.terranea.com/california-family-vacations.php or by calling (310) 265-2800.

South Bay Galleria Unveils Remodel Plans

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Thu, 12 Nov 2009 14:29:50 -0600

The South Bay Galleria Shopping Center, located west of Hawthorne Boulevard and south of 177th Street unveiled plans for a $32 million renovation of the southern part of the shopping center.

The 11 acrea area today is home to the discount Cinema 3 theater, a Bank of America branch and a building that once housed Thrifty Drug and CompUSA stores. A fenced-off dirt lot behind the theater is all that's left to show of an old bowling alley demolished a few years ago. The owner of the center, South Bay Associates, a subsidiary of Galleria owner Forest City Commercial Group, explained that the renovation will include a nearly 110,000-square-foot complex that incorporates three anchor tenants and six to seven smaller retailers.

for Daily Breeze

The company's goal is to start work in the second quarter of 2010 and open the new center in the third quarter of 2011, Lee said.

As the SouthBay South project heads through the approval process, Redondo Beach is eager to see the transformation of another nearby retail site: the large building abandoned earlier this year by the closure of the Expo Design Center.

That tract is owned by Home Depot, which is looking to either lease or sell all of its former Expo properties, a company spokeswoman said.

An artist's rendering of the South Bay Galleria remodel.

Rocky Point to remain open to Fisherman

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Wed, 11 Nov 2009 14:23:24 -0600

The kelp beds of Rocky Point off of the Lunada Bay area of Palos Verdes Estates will remain open to fisherman based on a decision of a state panel selected to enforce the Marine Life Protection Act . The panel had selected a compromise plan that had taken into consideration proposals from groups representing both the fisherman as well as conservation groups.

The popular fishing area near Rocky Point would remain open under the latest Blue Ribbon Task Force proposal. (Steve McCrank/Daily Breeze Staff Photographer)

The panel did vote to include areas including portions of La Jolla, Swami's Reef, Malibu and Santa Catalina Island, Rocky Point was excluded . Rocky Point is a productive area and receives significant fishing pressure, but closing it to fishing would have dealt an economic blow to Redondo Sportfishing and other landings, and might have caused private fishing boat owners to pull their vessels from King Harbor.

for Daily Breeze

Additional information on this issue may be found at www.easyreadernews.com/story.php?StoryID=20035366 . The plan still must be approved by the California Fish and Game Commission, which will convene on the issue next month.

Congress Extends Loan Limits for Government funded loans

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Sun, 08 Nov 2009 17:50:06 -0600

The Congress recently passed an extension of the increased loan limits passed last year, which increased the limits on the amount of a loan funded or guaranteed by the FHA or Fannie Mae and Freddie Mac in certain high cost areas such as California from the previous $625,500 limit to $729,750. These limits are based on 125 percent of local median home sales prices, up to a maximum of $729,750 in high-cost areas. The new limits have now been extended through 2010. The higher limits had been set to expire at the end of 2009 returning back to $625,500.

These increases created a new range of loans called "Super Conforming Loans" or " Conforming Jumbos" from $417,000 to $729,750 (in some cases limited to an upper limit of $625,500). These loans are generally priced only an eighth of a point higher than conforming loans under $417,000.

Jumbo loans in excess of these limits are currently available at rates of aprox. one half point higher.

Interest rates for conforming and jumbo conforming loans are now available for rates of less than 5%.

President Signs Extension of First Time Home Buyers Credit and New credit for current owners buying a home

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Sun, 08 Nov 2009 17:14:52 -0600

The President has signed into law an extension of the $8,000 first time home buyers credit which also added a new $6,500 tax credit for existing homeowners buying a new principal residence. The details of the new law are as follows:

For homes purchased between between January 1, 2009 and April 30, 2010:

1) The credit is 10% of the homes purchase price, limited to $8,000, and does not have to be paid back (unless the property is sold within 3 years - See #7 below).
2) The credit is limited to first time home buyers and principal residences. Any home that will be used as a principal residence will qualify for the credit, provided that if the home is purchased after November 6, 2009 it must be for a price less than or equal to $800,000. This includes single-family detached homes, attached homes like townhouses and condominiums, manufactured homes (also known as mobile homes) and houseboats.
3) The definition of first time home buyer is someone who did not own a principal residence within 3 years of the date of closing of the new purchase.For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse.
4) The credit is only for a limited time. The contract date of the sale must be between January 1, 2009 and April 30, 2010. However, the law also allows home sales occurring by June 30, 2010 to qualify, provided they are due to a binding sales contract in force on or before April 30, 2010.
5) Income limits for phase out of Tax credit
a)To receive the full credit, for sales through November 5, 2009, single taxpayers must have earned (modified adjusted goss income) less than $75,000 and married taxpayers must have earned less than $150,000. The tax credit is phased out proportionally for taxpayers who exceed these income limits by up to $20,000. The credit is zero at an income level of $95,000 for single taxpagyers, and $170,000 for married taxpayers.To determine modified adjusted gross income (MAGI), add to AGI certain amounts such as foreign income, foreign-housing deductions, student-loan deductions, IRA-contribution deductions and deductions for higher-education costs.
b) For sales occuring after November 6, 2009, the income limit for single taxpayers is $125,000; the limit is $225,000 for married taxpayers filing a joint return. The tax credit amount is reduced for buyers with a modified adjusted gross income (MAGI) of more than $125,000 for single taxpayers and $225,000 for married taxpayers filing a joint return. The phaseout range for the tax credit program is equal to $20,000. That is, the tax credit amount is reduced to zero for taxpayers with MAGI of more than $145,000 (single) or $245,000 (married) and is reduced proportionally for taxpayers with MAGIs between these amounts.
6) The credit is a "refundable credit", which means the credit is deducted from the taxes owed, and if the net result is less than zero, the amount is refunded to the taxpayer. Therefor, even if you pay no taxes, you will receive the credit which will be paid to you. Home buyers must attach a copy of their HUD-1 settlement form (closing statement) to Form 5405 as proof of the completed home purchase.
7) The buyer must hold the property for at least 3 years or the tax credit wil have to be returned (exceptions are for sale due to death or divorce ).
8) Those people who took advantage of the $7,500 first time home buyers credit in 2008, must still pay the credit back over a 15 year period.
9) Two unmarried individuals buying a principal residence may allocate the credit "in any reasonable manner"
10) The law allows taxpayers to choose ("elect") to treat qualified home purchases in 2009 as if the purchase occurred on December 31, 2008 (or if in 2010, December 31, 2009). This means that the previous year´s income limit (MAGI) applies and the election accelerates when the credit can be claimed. A benefit of this election is that a home buyer in 2009 or 2010 will know their prior year MAGI with certainty, thereby helping the buyer know whether the income limit will reduce their credit amount. Taxpayers buying a home who wish to claim it on their prior year tax return, but who have already submitted their tax return to the IRS, may file an amended return claiming the tax credit using Form 1040X. You should consult with a tax professional to determine how to arrange this. Therefor, you can choose the year that yields the largest credit amount.
11)Taxpayers buying a home who wish to claim it on their prior year tax return, but who have already submitted their tax return to the IRS, may file an amended return claiming the tax credit using Form 1040X. You should consult with a tax professional to determine how to arrange this.

Federal Tax Credit for qualified move-up buyers ( not first time home buyers):

1) The tax credit is for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010 (or purchased by June 30, 2010 with a binding sales contract signed by April 30, 2010).and is equal to 10 percent of the home´s purchase price up to a maximum of $6,500. Purchases of homes priced above $800,000 are not eligible for the tax credit.
2) The law defines a tax credit qualified move-up home buyer ("long-time resident") as a home owner who has owned and resided in a home for at least five consecutive years of the eight years prior to the purchase date. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse. Repeat home buyers do not have to purchase a home that is more expensive than their previous home to qualify for the tax credit.
3) The income limits are the same as for the $8,000 first time home buyers credit described above for homes purchased after November 6, 2009.
4) The law allows taxpayers to choose ("elect") to treat qualified home purchases in 2009 as if the purchase occurred on December 31, 2008 (or if in 2010, December 31, 2009). This means that the previous year´s income limit (MAGI) applies and the election accelerates when the credit can be claimed. A benefit of this election is that a home buyer in 2009 or 2010 will know their prior year MAGI with certainty, thereby helping the buyer know whether the income limit will reduce their credit amount. Taxpayers buying a home who wish to claim it on their prior year tax return, but who have already submitted their tax return to the IRS, may file an amended return claiming the tax credit using Form 1040X. You should consult with a tax professional to determine how to arrange this. Therefor, you can choose the year that yields the largest credit amount.
5)Taxpayers buying a home who wish to claim it on their prior year tax return, but who have already submitted their tax return to the IRS, may file an amended return claiming the tax credit using Form 1040X. You should consult with a tax professional to determine how to arrange this.

**NOTE: The information contained at this site is for educational purposes only and is not intended for any particular person or circumstance. A competent tax professional should always be consulted before utilizing any of the information contained at this site.**

House and Senate Vote to Extend and Expand 1st Time Home Buyers Tax Credit

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Thu, 05 Nov 2009 16:44:59 -0600

The California Association of Realtors has just released the following good news for first time homebuyers:

"Following the Senate's favorable vote yesterday, the U.S. House of Representatives just voted 403 to 12 to extend the home buyer tax credit, expanding the parameters to include existing homeowners and not just first-time buyers. As you may know, C.A.R. and our partners at NAR have worked for months urging Congress and the Senate to extend and expand this crucial piece of legislation. We expect President Obama to sign the legislation in short order.

As it now stands, the federal tax credit will be extended through April 30, 2010, with a 60-day extension if a binding contract is in place prior to the deadline. First-time home buyers will continue to be eligible for a tax credit of up to $8,000, while existing homeowners will be eligible for a reduced credit of up to $6,500. To qualify for the $6,500 credit, existing homeowners must have lived in their current residences for at least five years. The bill also increases the qualifying income limits from $75,000 for single tax filers and $150,000 for joint filers to $125,000 and $225,000, respectively. The purchase price of the home is capped at $800,000 in both instances.

Under additional provisions included in the bill, taxpayers can claim the credit on purchases completed in 2010 on their 2009 income tax returns. The legislation maintains the provision that home buyers do not have to repay the credit provided the home remains their primary residence for 36 months after purchase, and waives this requirement for active duty military personnel who move due to a military order."

This is excellent news and will help all first time home-buyers realize their dream of home ownership.

3rd Quarter 2009 South Bay and Palos Verdes Real Estate Market Report

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Thu, 05 Nov 2009 16:15:04 -0600

The real estate market for the Palos Verdes Peninsula and Beach Cities picked up substantially in the third quarter 2009. Both buyers and sellers stepped up to buy and sell. Properties that were sitting for many months sold at all levels of the market. High end properties are selling as jumbo loans have become more available. Buyers who can get financing are actively looking and aggressively offering where they see a deal. Sellers who are motivated to move are pricing their homes to sell.

I have also posted below in separate web blog posts detailed market reports for each of the neighborhoods on the Palos Verdes Peninsula which lists the homes sold in each neighborhood during the 3^rd Quarter of 2009

News reports are mixing in some good economic news in addition to the doomsday reports favored by the media. Lower priced homes are moving briskly with buyers taking advantage of significant discounts and record low interest rates. New tax credits are also giving great incentives to new buyers. Today, the Senate agreed to extend the $8,000 first time homebuyers tax credit that was scheduled to expire at the end of November to the end of next April, with the Housed expected to agree to extend the credit.

PRICE CHANGES - Properties, on average, in the South Bay are selling for approx. 96% of list price. The average price per sq. ft. for homes sold in the third quarter 2009 compared to the third quarter 2008, has fallen much less in the South Bay Beach Cities, however, than in most markets in Southern California. Recent news reports have indicated that prices may be stabilizing in Southern California. The median price of homes in Los Angeles County has also been increasing lately due to an increase in the number of more expensive homes being sold because of the improving market for jumbo loans.

Quarterly changes in sales volumes in the beach cities compared to last year varied widely, with some strong increases in sales volumes on the Palos Verdes Peninsula and San Pedro, but flat sales in Torrance and Manhattan and Hermosa Beach or decreases in sales in Redondo Beach.

Location	2009 3rd Qtr. Sales	2009 3rd Qtr. Sales	% Change 3rd Qtr. 2008	% Change 3rd Qtr. 2008
	Sales Price Per Sq. Ft.	# of Houses	Sales Price Per Sq. Ft.	Sales Volume	Days on Market	Months Inventory
Palos Verdes Estates	$552	42	( 22% )	62%	84	6
RPV, RHE & PVP	431	99	(15%)	11%	71	4
Rolling Hills	644	6	(11%)	100%	120	10
Manhattan Beach/Hermosa	606	113	(11%)	(3%)	72	5
Redondo Beach	450	70	(3%)	(17%)	57	4
Torrance	366	227	(3%)	0%	45	2
San Pedro	323	90	(4%)	22%	99	3

Inventory - The total inventory of single family homes for sale in the cities listed above has decreased significantly during the last quarter, except for the more expensive area of Rolling Hills.

Inventory History -For most of the last two decades, L.A. County has averaged an 8 month inventory. The number of months of inventory of homes in Redondo Beach, Torrance and San Pedro has shrunk significantly in the last 3 quarters. Homes in the lower end of the price range in the higher priced market of the Palos Verdes Peninsula and Manhattan Beach have been also selling faster than the higher priced homes, yet as previously, luxury home sales on the PV Peninsula increased in the third quarter.

What is a Short Sale?

CDPE - Certified Distressed Property Expert

Short Sales are a sale of a property where the sale proceeds are not adequate to pay off the existing loans, requiring the lender to agree to accept less than full payment of their loan. At this time, the fastest growing segment of the distressed property market is the luxury market. I am a Certified Distressed Property Expert, and those realtors that have this designation have a success rate of 85-90% closing short sales, compared to a national average of 8-10% successful closings. Whether it is caused by relocation, loss of a job or increased mortgage payments, everyone at some point has been touched by the worldwide economic downturn. If you know someone who may need some help lease don't hesitate to call or refer our services.

IT'S ALL ABOUT THE INTERNET. We invite you to visit our award winning website at www.maureenmegowan.com. Our website achieves extremely high placement on search engine results, such as "Palos Verdes Real Estate" and "South Bay Real Estate" on Google, for people using the internet to buy a home in Palos Verdes or the South Bay beach communities. This has made us a leader in serving relocation clients.

TAX INCENTIVES: The Federal government's $8,000 tax credit for first time home buyers is scheduled to expire November 30^th, but may be extended by Congress. There are also substantial tax credits for qualifying energy saving expenditures. For more info, visit the following link on my website : Income Tax Issues

BUYERS AND SELLERS TAKE HEART! There is financing available for well qualified buyers due to the Federal Reserve's aggressive action in purchasing Fannie Mae and Freddie Mac securities. Funds for this program are expected to run out by the end of the 1^st quarter of 2010 and interest rates may move up by upwards of a half point in the early part of next year. There are new guidelines for Fannie Mae and Freddie Mac loans, and 3.5% down payment loans are available with tight restrictions.

BUYERS with good credit, an adequate down payment and 2 years or more employment history will qualify for Full Documentation loans. There are no Stated Loans ( no documentation) offered now. If the property will be your home, not a speculative investment, you should be buying for the long term. Today's market gives buyers and sellers the opportunity to negotiate a reasonable deal for both parties.

Conforming Loans (loans of less than $417,000) are at approx. 4.9 %. Rates for loans between $417,000 and $729,750 (conforming jumbos ) are about one-eighth to one quarter of a percentage point higher. Conforming loans generally require a 10% to 20%down payment (less for FHA or VA loans)

Interest rates on Jumbo 30 year fixed rate mortgages (loans in excess of $729,750) have decreased substantially over the last several quarters to an average rate of approx. 5.75-6.25%. The interest rate spread between conforming loans and Jumbo 30 year fixed rate loans are approx. 75 % to 1.25 % higher than 30 year fixed rate conforming loans. Jumbo loans also require a much higher down payment of 25 to 30%. This large spread between jumbo loans and conforming loans is amazing considering that prior to the mortgage loan melt down, spreads between conforming and jumbo loans were only approx. two-tenths of a percentage point. 7 year variable rate loans are available for jumbo loans at rates of approx. 5.4%.

All rates quoted above are as of 10/22/09 with usually FICO Scores of at least 740.

Thanks for reading this. We hope it helps your decision making. Call us for more in depth help for your property.

Your feedback and referrals are greatly appreciated. Referrals are the backbone of our business. If you agree that we are knowledgeable professionals, with your best interest at heart, we would appreciate your referral to friends, family and colleagues. We treat all our clients like family, building lifelong relationships.

Court Preserves right of Palos Verdes Estates to Review Cell Towers

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Thu, 05 Nov 2009 12:57:37 -0600

Last month, the U.S. 9th Circuit Court of Appeals sided with the City of Rancho Palos Verdes supporting the city's contention that it had the right to review the aesthetics of proposed cell phone transmission towers within the city limits.

Typical cell phone tower with no provision for aesthetics

In the court's opinion, they stated "The experience of traveling along a picturesque street is different from the experience of traveling through the shadows of a WCF [wireless communications facility], and we see nothing exceptional in the city's determination that the former is less discomforting, less troubling, less annoying and less distressing than the latter," the panel observed in the ruling. "After all, travel is often as much about the journey as it is about the destination."

Sprint had argued that the city's rejection of two wireless construction projects on aesthetic grounds violated the 1996 Telecommunications Act, which bars municipalities from action that constitutes "a prohibition on the provision of wireless service."

Example of cell phone tower designed to blend in

The appeals court panel disagreed, pointing to the company's own assertion that it already serves some 4,000 customers in the affluent city. Sprint had refused to make the changes to the proposed towers that the city had recommended to make it more compatable with the neighborhood.

St. John Fisher Catholic Church in RPV set for expansion

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Wed, 04 Nov 2009 14:35:17 -0600

The City of Rancho Palos Verdes has settled a lawsuit brought by local residents opposed to the expansion plans of the St. John Fisher Catholic Church which now clears the way for the Church to commence their expansion plans.

(Paul Penzella/Staff Artist)

The settlement resulted in only minor changes to the planned expansion, including moving the main sanctuary building 20 feet away from the adjacent street. The church will construct a 17,000-square-foot sanctuary with a 74-foot lighted cross. The current sanctuary will be turned into an athletic and activity center, and several other buildings will be torn down or modified. The expansion is expected to cost approx. $20 million.

St. John Fisher Catholic Church administrator David Kurt shows a model of the proposed new sanctuary in Rancho Palos Verdes. (Steve McCrank/Daily Breeze Staff Photographer)

Interest Rate Update

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Fri, 23 Oct 2009 18:16:57 -0500

The following are interest rate quotes from Al Hermann of American/California Financial Services :

30 Yr Fixed FHA
Rate	APR
4.750%	4.904%	Details

Conforming 30 Yr Fixed up to $417000
Rate	APR
4.875%	5.030%	Details

Conforming Jumbo 30 Yr Fixed $417001 - $625500
Rate	APR
5.000%	5.149%	Details

Conforming Jumbo Fixed $625000 - $729750
Rate	APR
5.000%	5.146%	Details

Jumbo 7/1 ARM $1.5 Mil (higher loan amt available)
Rate	APR
5.375%	4.324%	Details

For more information about Financing your purchase of a home on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com

Eastview Area of Rancho Palos Verdes 3rd Quarter 2009 Real Estate Market Report

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Thu, 22 Oct 2009 14:29:10 -0500

The Eastview area of Rancho Palos Verdes ( area 177 in map below) had the following real estate market activity for single family residences during the 3rd Quarter of 2009 :

Properties Sold: 9

Address Sales Price BR BA Sq.ft. $/Sq.ft Yr.Blt. MLS# Sold Date Days on Mkt.

2021 Caddington DR $580,000 3 2.00 1,274 $455 1956 P677603 7/02/09 113

1902 Caddington DR $605,500 3 2.00 1,248 $485 1955 S09060751 8/28/09 97

29012 S Highmore AV $629,900 6 3.00 2,800 $225 1950 W09072453 9/15/09 31

28723 N Enrose AV $689,000 3 2.00 1,274 $541 1956 S09056247 7/10/09 11

27847 S Montereina DR $700,000 3 2.00 2,084 $336 1959 P690034 7/24/09 51

2064 Noble View DR $703,000 3 3.00 1,824 $385 1956 V09070188 8/13/09 1

2102 W Macarthur ST $735,000 4 2.00 2,000 $368 1955 S09073475 9/16/09 36

1978 Caddington DR $765,000 4 3.00 2,202 $347 1956 V09038764 8/22/09 130

2403 Sparta DR $810,000 3 2.00 2,533 $320 1964 V08049761 9/24/09 537

Properties for Sale as of 9/30/09: 11

Average List Price at 9/30/09: $ ,7 million

Average Sales Price of homes sold during 3rd quarter: $ .7 million

Average Price per Sq. Ft. for Properties Sold during 2nd Qtr: $ 382 per sq. ft.

Properties sold at an average of 98% of List Price

For more information on buying or selling real estate in the Eastview area of Rancho Palos Verdes visit my website at http://www.maureenmegowan.com

Silver Spur Area of Rancho Palos Verdes and Rolling Hills Estates 3rd Quarter 2009 Real Estate Market Report

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Thu, 22 Oct 2009 14:12:11 -0500

The Silver Spur area of Rancho Palos Verdes and Rolling Hills Estates (Area 176 in map below) had the following real estate market activity for single family residences during the 3rd Quarter of 2009 :

Properties Sold: 9

Address Sales Price BR BA Sq.ft. $/Sq.ft Yr.Blt. MLS# Sold Date Days on Mkt.

49 Rollingwood DR $655,000 3 2.00 2,267 $289 1956 09346373 8/31/09 128

2 Via De La Vista $799,000 3 2.00 1,625 $492 1963 V09062266 7/10/09 29

27108 Whitestone RD $818,000 3 2.00 1,914 $427 1959 V09041804 6/30/09 51

27057 Springcreek Road $859,000 3 2.00 1,612 $533 1960 V09075922 9/04/09 17

5730 Ironwood ST $870,000 5 3.00 2,158 $403 1961 V09030529 9/18/09 174

5839 Flambeau RD $885,000 4 3.00 2,192 $404 1959 V09036500 9/22/09 171

26557 Silver Spur Rd $975,000 4 2.00 2,484 $393 1962 S09009106 9/16/09 186

4845 Elmdale DR $987,000 3 2.00 1,767 $559 1956 S09033065 7/02/09 43

4937 Elmdale DR $1,050,000 4 3.00 2,176 $483 1956 S09052587 8/08/09 84

Properties for Sale as of 9/30/09: 6

Average List Price at 6/30/09: $ 1.0 million

Average Sales Price of homes sold during 3rd quarter: $ .9 million

Average Price per Sq. Ft. for Properties Sold during 3rd Qtr: $ 442 per sq. ft.

Properties sold at an average of 96% of List Price

For more information on buying or selling real estate in the Silver Spur area of Rolling Hills Estates and Rancho Palos Verdes visit my website at http://www.maureenmegowan.com

Peninsula Center Area of Rolling Hills Estates and Rancho Palos Verdes 3rd Quarter 2009 Real Estate Market Report

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Wed, 14 Oct 2009 18:25:46 -0500

The Peninsula Center area of Rancho Palos Verdes and Rolling Hills Estates (Area 175 in map below) had the following real estate market activity for single family residences during the 3rd Quarter of 2009 :

Properties Sold: 11

Address Sales Price BR BA Sq.ft. $/Sq.ft Yr.Blt. MLS# Sold Date Days on Mkt.

5216 Silver Arrow DR $825,000 3 2.00 1,395 $591 1959 V09039106 7/01/09 67

27603 Fawnskin DR $863,000 3 2.00 1,662 $519 1959 V09067971 8/25/09 42

27416 Fawnskin DR $890,000 3 3.00 2,392 $372 1959 S09059707 9/11/09 86

27504 Littlewood DR $900,000 5 3.00 2,372 $379 1965 P689116 8/31/09 41

27038 Diamondhead LN $925,000 3 2.00 1,899 $487 1965 V09078602 9/04/09 43

5039 Browndeer LN $990,000 5 3.00 2,494 $397 1967 V09083396 9/30/09 10

27003 Silver Moon LN $1,010,000 4 3.00 2,622 $385 1967 V09055288 7/09/09 50

27520 Elmbridge DR $1,050,000 4 3.00 2,189 $480 1965 S09067735 9/16/09 55

5040 Browndeer LN $1,100,000 5 3.00 2,440 $451 1966 V09070652 9/24/09 73

26831 Hawkhurst DR $1,100,000 4 3.00 2,784 $395 1967 V09016653 8/21/09 141

26504 Rockhurst $1,100,000 4 3.00 2,490 $442 V09025384 7/02/09 106

Properties for Sale as of 9/30/09: 6

Average List Price at 9/30/09: $ 1.0 million

Average Sales Price of homes sold during 3rd quarter: $ 1.0 million

Average Price per Sq. Ft. for Properties Sold during 3rd Qtr: $ 445 per sq. ft.

Properties sold at an average of 97% of List Price

For more information on buying or selling real estate in the Peninsula Center area of Rolling Hills Estates and Rancho Palos Verdes visit my website at http://www.maureenmegowan.com

Los Verdes Area of Rancho Palos Verdes 3rd Quarter 2009 Real Estate Market Report

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Wed, 14 Oct 2009 18:15:58 -0500

The Los Verdes area of Rancho Palos Verdes (Area 173 in map below) had the following real estate market activity for single family residences during the 3rd Quarter of 2009 :

Properties Sold: 5

Address Sales Price BR BA Sq.ft.$/Sq.ft Yr.Blt. MLS# Sold Date Days on Mkt.

6933 Grovespring DR $889,000 4 2.00 1,806 $492 1963 S584963 9/20/09 6

7011 Willowtree DR $910,000 4 2.00 2,316 $393 1963 S09057239 7/21/09 40

6908 Purple Ridge Dr. $960,000 4 2.00 1,617 $594 1963 V09056253 7/22/09 13

28361 Plainfield DR $ 1,000,000 4 3.00 2,484 $403 1964 V09040149 9/11/09 138

27917 Hazelridge DR $1,200,000 4 2.00 2,332 $515 1964 V09062801 9/16/09 78

28725 Blythewood DR $1,290,000 5 5.00 3,157 $409 1963 S09034109 7/17/09 70

Properties for Sale as of 9/30/09: 10

Los Verdes Street with Ocean View

Average List Price at 9/30/09: $ 1.1 million

Average Sales Price of homes sold during 3rd quarter: $ 1.0 million

Average Price per Sq. Ft. for Properties Sold during 2nd Qtr: $ 467 per sq. ft.

Properties sold at an average of 94% of List Price

For more information on buying or selling real estate in the Los Verdes area of Rancho Palos Verdes visit my website at http://www.maureenmegowan.com

Crest area of Rancho Palos Verdes and Rolling Hills Estates 3rd Quarter 2009 Real Estate Market Report

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Wed, 14 Oct 2009 18:01:00 -0500

The Crest area of Rancho Palos Verdes and Rolling Hills Estates ( Area 174 in map below )had the following real estate market activity for single family residences during the 3rd Quarter of 2009 :

Properties Sold: 10

Address Sales Price BR BA Sq.ft.$/Sq.ft Yr.Blt. MLS# Sold Date Days on Mkt.

28604 Meadowmist Drive $850,000 4 2.00 2,090 $407 1967 V09065991 7/31/09 29

29435 Whitley Collins DR $901,000 4 3.00 2,374 $380 1963 V09058966 7/29/09 40

29642 Stonecrest Road $910,000 4 3.00 2,374 $383 1963 V09059505 8/03/09 49

28710 King Arthur CT $985,000 4 2.00 2,044 $482 1968 V09033865 7/07/09 100

29007 Firthridge RD $1,015,000 4 3.00 2,575 $394 1967 V09044907 7/10/09 58

28402 Quailhill DR $1,080,000 4 3.00 2,366 $456 1969 V09039364 8/19/09 98

5653 Sunmist DR $1,099,000 5 3.00 2,468 $445 1965 V09070984 9/25/09 83

29604 Stonecrest Road $1,140,000 5 3.00 2,468 $462 1963 V09064915 8/28/09 41

29501 Oceanport RD $1,280,000 4 3.00 2,448 $523 1964 V09022607 8/11/09 112

28805 Covecrest DR $1,299,000 5 4.00 2,366 $549 1967 V09042181 7/17/09 44

Properties for Sale as of 9/30/09: 8

Average List Price at 9/30/09: $ 1.2 million

Average Sales Price of homes sold during 3rd quarter: $ 1.1 million

Average Price per Sq. Ft. for Properties Sold during 3rd Qtr: $ 448 per sq. ft.

Properties sold at an average of 97% of List Price

For more information on buying or selling real estate in the Crest area of Rolling Hills Estates and Rancho Palos Verdes visit my website at http://www.maureenmegowan.com

La Cresta Area of Rancho Palos Verdes and Rolling Hills Estates 3rd Quarter 2009 Real Estate Market Report

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Wed, 14 Oct 2009 17:48:22 -0500

The La Cresta area of Rancho Palos Verdes and Rolling Hills Estates( area 172 in map below )had the following real estate market activity for single family residences during the 23rd Quarter of 2009 :

Properties Sold: 9

Address Sales Price BR BA Sq.ft. $/Sq.ft Yr.Blt. MLS# Sold Date Days on Mkt.

6 Pepper Tree LN $990,000 3 3.00 2,359 $420 2002 S09038397 9/09/09 119

13 Pepper Tree LN $990,000 3 4.00 2,546 $389 2002 V09074696 9/29/09 57

22 Oceanaire DR $1,360,000 5 3.00 3,349 $406 1962 S09067181 7/29/09 7

7 Clear Vista DR $1,400,000 4 4.00 2,889 $485 1981 V09076062 9/10/09 33

5249 Valley View RD $1,520,000 4 4.00 4,248 $358 1983 V09075685 9/02/09 53

28 Country Meadow RD $1,560,000 4 4.00 4,112 $379 1979 V08147021 7/23/09 282

18 San Clemente DR $1,725,000 4 4.00 3,218 $536 1988 S09057400 7/14/09 27

10 Covered Wagon LN $1,850,000 4 4.00 4,048 $457 1981 S09013239 7/30/09 183

16 Hillcrest Manor $2,150,000 5 5.00 4,647 $463 1997 V09037477 7/28/09 83

Properties for Sale as of 9/30/09: 10

View from La Cresta area - Del Cerro Park - (Photo by Ed Shea / PVNET. )

Average List Price at 9/30/09: $ 1.7 million

Average Sales Price of homes sold during 3rd quarter: $ 1.5 million

Average Price per Sq. Ft. for Properties Sold during 3rd Qtr: $ 432 per sq. ft.

Properties sold at an average of 95% of List Price

For more information on buying or selling real estate in the La Cresta area of Rolling Hills Estates and Rancho Palos Verdes visit my website at http://www.maureenmegowan.com

Southern California Home Prices Appear to Stabilize

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Wed, 14 Oct 2009 17:37:16 -0500

The median price paid for all homes in six Southern California counties in September -- $275,000 -- was unchanged from August and 11% below the same month last year, according to San Diego-based MDA DataQuick.

As reported in the Los Angeles Times, "Christopher Thornberg, a Los Angeles economist who was an early predictor of the housing bubble, said several factors converged last month to give home sales a boost. "Tax breaks, low interest rates and pent-up demand added up to create a surge in sales that's surely gone some way in stabilizing prices," he said.. . Even if the housing market takes another hit in the coming months, Thornberg said, the bulk of the market correction is past."

"The Southern California median price remains at 2002 levels, even without considering inflation, and is 46% below its peak level of $505,000 set in several months of 2007.Those relatively low prices pushed the number of homes sold in September up 5% over the same month last year, and 0.2% above August.

Last month's sales, with a rising median price over last year in some areas, show the mix of homes sold is normalizing. Sales of homes priced at or above $500,000 were 21% of the total, up from 13% in January, DataQuick said."

Sales have benefited from very low interest rates, reduced home prices, as well as government incentives including the $8,000 first time home buyers Federal Income Tax credit which is scheduled to expire on November 30th, 2009.

Country Club Area of Rancho Palos Verdes 3rd Quarter 2009 Real Estate Market Report

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Wed, 14 Oct 2009 17:21:50 -0500

The Country Club area of Rancho Palos Verdes (area 171 in map below ) had the following real estate market activity for single family residences during the 2nd Quarter of 2009 :

Properties Sold: 8

Address Sales Price BR BA Sq.ft. $/Sq.ft Yr.Blt. MLS# Sold Date Days on Mkt.

30502 Via La Cresta $855,000 4 3.00 2,776 $308 1968 V09070747 8/20/09 22

6878 Crest RD $1,125,000 4 2.00 2,660 $423 1964 V09013746 7/07/09 108

30189 Avenida Esplendid $1,194,500 4 3.00 2,881 $415 1976 V09003277 9/25/09 262

6544 Locklenna LN $1,200,000 4 3.00 2,875 $417 1966 V09041688 7/13/09 75

31416 Marne DR $1,355,000 4 4.00 3,421 $396 1961 V09062752 8/18/09 48

31207 Marne DR $1,425,000 4 4.00 3,380 $422 1962 V09038657 7/02/09 27

30654 Via La Cresta $1,435,000 5 3.00 3,192 $450 1968 V09077028 9/09/09 27

6530 Sattes DR $1,830,000 4 6.00 3,905 $469 1976 S09056144 7/28/09 29

This was a significant increase in sales over the single property that was sold the previus quarter.

Properties for Sale as of 9/30/09: 5

Average List Price at 9/30/09: $ 1.9 million

Average Sales Price of homes sold during 3rd quarter: $ 1.3 million

Average Price per Sq. Ft. for Properties Sold during 2nd Qtr: $ 412 per sq. ft.

Properties sold at an average of 96% of List Price

For more information on buying or selling real estate in the Country Club area of Rancho Palos Verdes visit my website at http://www.maureenmegowan.com

West Palos Verdes Area of Rancho Palos Verdes 3rd Quarter 2009 Real Estate Market REport

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Mon, 12 Oct 2009 18:31:51 -0500

The West Palos Verdes area of Rancho Palos Verdes ( area 170 in map below ) had the following real estate market activity for single family residences during the 3rd Quarter of 2009 :

Properties Sold: 3

Address Sales Price BR BA Sq.ft. $/Sq.ft Yr.Blt. MLS# Sold Date Days on Mkt.

7346 Berry Hill DR $945,000 3 2.00 2,306 $410 1961 V08088392 7/31/09 388

30934 Rue De La Pierre $990,000 4 3.00 2,226 $445 1973 S09096584 9/22/09 7

7321 Lunada Vista $2,600,000 5 5.00 4,034 $645 2008 S09024280 8/31/09 180

Properties for Sale as of 9/30/09: 9

Average List Price at 9/30/09: $ 3.9 million

Average Sales Price of homes sold during 3rd quarter: $ 1.5 million

Average Price per Sq. Ft. for Properties Sold during 2nd Qtr: $ 500 per sq. ft.

Properties sold at an average of 96% of List Price

For more information on buying or selling real estate in the West Palos Verdes area of Rancho Palos Verdes visit my website at http://www.maureenmegowan.com

Palos Verdes Dr. South Area of Rancho Palos Verdes 3rd Quarter 2009 Real Estate Market Report

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Mon, 12 Oct 2009 18:06:00 -0500

The Palos Verdes Dr. South area of Rancho Palos Verdes (area 169 in map below )had the following real estate market activity for single family residences during the 3rd Quarter of 2009 :

Properties Sold: 5

Address Sales Price BR BA Sq.ft. $/Sq.ft Yr.Blt. MLS# Sold Date Days on Mkt.

4259 Stalwart Drive $810,000 4 2.00 2,160 $375 1960 V09039795 7/14/09 28

18 Cinnamon LN $850,000 2 2.00 1,986 $428 1955 V09036393 8/28/09 145

4307 Exultant DR $875,000 3 3.00 1,834 $477 1960 V09062823 8/07/09 41

6603 Beachview DR $950,000 3 3.00 2,825 $336 1990 V09038635 7/31/09 90

3231 S Palos Verdes DR $3,243,700 5 6.00 7,841 $414 2009 V09022436 8/14/09 138

Properties for Sale as of 9/30/09: 15

Average List Price at 9/30/09: $ 2.7 million

Average Sales Price of homes sold during 3rd quarter: $ 1.3 million

Average Price per Sq. Ft. for Properties Sold during 3rd Qtr: $ 406 per sq. ft.

Properties sold at an average of 94% of List Price

Mira Catalina Area of Rancho Palos Verdes 3rd Quarter 2009 Real Estate Market Report

Maureen Megowan (Remax Palos Verdes Realty - DRE #01368971) — Mon, 12 Oct 2009 17:52:54 -0500

The Mira Catalina area of Rancho Palos Verdes ( area 168 in map below ) had the following real estate market activity for single family residences during the 3rd Quarter of 2009 :

Properties Sold: 3

Address Sales Price BR BA Sq.ft. $/Sq.ft Yr.Blt. MLS# Sold Date Days on Mkt.

2757 San Ramon DR $850,000 3 2.00 1,746 $487 1959 V09067645 9/30/09 50

3612 Cliffsite DR $985,000 3 2.00 1,929 $511 1969 S09047041 7/1/09 57

3227 Deluna DR $1,050,000 4 2.00 2,747 $382 1962 V09062799 9/11/09 87

Properties for Sale as of 9/30/09: 6

Average List Price at 9/30/09: $ 2.0 million

Average Sales Price of homes sold during 3rd quarter: $ 1.0 million

Average Price per Sq. Ft. for Properties Sold during 3rd Qtr: $ 460 per sq. ft.

Properties sold at an average of 96% of List Price

For more information on buying or selling real estate in the Mira Catalina area of Rancho Palos Verdes visit my website at http://www.maureenmegowan.com