Elaine 's Blog

Valmonte Neighborhood Update

Elaine Carlson (Remax Palos Verdes Realty) — Tue, 08 Dec 2009 17:21:04 -0600

The Valmonte neighborhood is in Palos Verdes Estates and is located at the northwest corner of the Palos Verdes Peninsula and borders the Hollywood Riviera section of Torrance. Valmonte is approximately 1/2 mile. This neighbhorhood is known for its eucalyptus groves and its "family neighborhood" feel. The topography is relatively flat which is greatfor walking, riding bikes, playing ball, etc. It is a very friendly area with lots of people taking walks and stopping to chat.

The Palos Verdes Estates "gatehouse" or tower is located in this area as well as the Palos Verdes Estates Stables. The first house was built in Valmonte over 70 years ago. Houses were custom built in many different styles such as Ranch, Spanish, Contemporary, Tuscan, Craftsman, etc. Today the area is a blend of older homes and larger newer homes that have replaced some of the older ones.

Currently, there are 14 homes for sale in the Valmonte area of Palos Verdes Estates ranging in price from $840,000 (3 br, 2 ba, 1553 sq ft) to $2,075,000 (4 br, 4 ba, 3750 sq ft). There are 4 homes in escrow. 23 homes have sold in Valmonte since the first of the year ranging in price from $820,000 (2 br, 1 ba, 1008 sq ft) to $2,100,000 (4 br, 3 ba, 3671 sq ft).

This is a very popular area as the weather is temperate; its been described as a "banana belt" with not too much fog, wind or heat. Valmonte is on the north side of the Palos Verdes Peninsula and is closer to beaches, freeways and shopping. As with all neighborhoods in Palos Verdes Estates, Valmonte does not have any sidewalks, street lights or traffic signals

Palos Verdes Shop/Dine Coupons

Elaine Carlson (Remax Palos Verdes Realty) — Mon, 07 Dec 2009 16:46:01 -0600

This year there are on-line coupons available for 56 businesses and restaurants in Rolling Hills and Rancho Palos Verdes (click here for the link) as part of the Peninsula Privileges program. These are available to all not just owners of Palos Verdes real estate.

Participating merchants range from Terrenea Resort to Ice Chalet, Restoration Hardware, Equinox Fitness, Norris Center for the Performing Arts, Chicken Dijon, Mayer's Bakery, Marmalade Cafe and many more. This is a great opportunity to support our locale businesses and save money too!

Lights In Palos Verdes?

Elaine Carlson (Remax Palos Verdes Realty) — Thu, 03 Dec 2009 20:55:10 -0600

Palos Verdes Estates does not have residential street lights. Tennis courts and pool areas are also restricted. According to Sue Van Every, Palos Verdes Estates Homeowners Association Manager, in a recent article in the Peninsula News "there is a city ordinance, as well as the Art Jury (which) has not allowed any (lights))...because of the surrounding neighbors..." Of course, that means no night games at Palos Verdes High School.

The same is true for Peninsula High School which is in Rolling Hills Estates. However, there have been a few exceptions over the years. According to Doug Prichard, City Manager of Rolling Hills Estates, in a recent Peninsula News article, "The standing policy of the school has been that they do not want to disrupt the neighborhoods in the quiet evenings with night games, they've never had lights go up there. Every few years, we'll get the booster club interested in having a night game or two during the season - particularly homecoming games - and they've done that in the past with temporary lights on sort of a one-off basis."

There are street lights in Rolling Hills Estates and Rancho Palos Verdes which makes navigating unfamiliar areas at night easier. As a resident of Palos Verdes Estates, I do enjoy not having streetlights. You can really see the stars at night!

Top Tuesday Tour Tips

Elaine Carlson (Remax Palos Verdes Realty) — Tue, 01 Dec 2009 18:38:04 -0600

There were 9 homes on the November 24, 2009, Palos Verdes real estate Broker's Tour. We currently have 215 active single family homes for sale in Palos Verdes ranging in price from $800,000 in Rancho Palos Verdes to $14,900,000 in Rolling Hills (the low in Eastview is $699,900). There are 47 townhomes/condos for sale priced between $230,000 and $1,500,000. My favorites were:

Gary Myer's, (Remax Palos Verdes Realty) 23 Hillcrest Manor, Rolling Hills Estates 90274 (above left), is a 4 bedroom, 5 bath, 4,124 square foot home for $2,295,000. This Hillcrest Manor home has a resort-like backyard with pool/spa, gourmet kitchen and separate office. Mary Thomas's (Remax Palos Verdes Realty) 900 Via Nogales, Palos Verdes Estates 90274 (above right), is a 4 bedroom, 3 bath, 2,205 square foot home for $1,599,000. This remodeled Monte Malaga home has ocean/coastline/city views, separate den and pool/spa.

Jerry Tainer's (Northwest Realty) 208 Via Pacheco, Palos Verdes Estates 90274 (above) is a 4 bedroom, 3 bath, 1,901 square foot home for $1,395,000. This remodeled Lower Lunada Bay home features a gorgeous new kitchen and outdoor entertaining area and is just a short walk to the bluffs.

Photos courtesy of MRMLS

2009 Palos Verdes Holiday Celebrations

Elaine Carlson (Remax Palos Verdes Realty) — Wed, 25 Nov 2009 14:15:16 -0600

The upcoming holiday season will offer several events to be enjoyed by owners of Palos Verdes real estate. This year there are 4 beautifully decorated homes featured in the 53rd Yule Parlor Parade sponsored by The Neighborhood Church (benefiting South Bay charities) to be held on December 4th and 5th from 11:00 a.m. to 4:00 p.m. with a Christmas Tea served at the Neighborhood Church from noon 4:00 p.m. Call 310-378-9353 for more information. The Neighborhood Church Christmas Pageant will be held on Sunday, December 13 at 5:30 and 7:30.

The 2009 Holiday Festival presented by Las Amigas at Torrance Memorial Medical Center ( south parking lot) features beautifully decorated holiday trees. The schedule is Dec.2 from 5 pm to 9 pm, Dec. 3 from 4 pm to 9 pm, Dec. 5 from 10 am to 9 pm and Dec 6 from 10 am to 4 pm.

The 2009 Rolling Hills Holiday Parade of Lights which is sponsored by the City of Rolling Hills Estates, will be held Saturday, December 5, 2009 at 6:00 p.m. There will be marching bands, drill teams, equestrian entries, floats, etc. The parade will take place on Silver Spur Drive.

The Promenade on the Peninsula will have several 2009 holiday events beginning with the Annual Tree Lighting Event on November 21, 2009 at 6:00 pm. Pictures With Santa will be held November 28 and December 19 from 1 to 4 pm. Breakfast With Santa will be held December 12 from 8:30 to 10 am (tickets available at Ruby's Diner).

Photo courtesy of Promenade on the Peninsula

New Alliance With Bank of America

Elaine Carlson (Remax Palos Verdes Realty) — Mon, 23 Nov 2009 18:26:33 -0600

Remax Palos Verdes/Execs has formed a new alliance with Bank of America which will benefit our clients in several ways. We now have access to the largest lender in the jumbo market. Bank of America will loan 80% up to a $2,000,000 loan to qualifying borrowers. This will help buyers (and therefore sellers) of Palos Verdes real estate. Remax Palos Verdes/Execs clients will be given priority and our agents will be given a source code so that we can track the loan through all stages.

We have a local Legacy Bank of America office which has their own loan processing center and underwriting department. This is very beneficial as a local person is making a decision about a local property which means the file won't be "rubber stamped" but given personal attention based on our local market. No more dealing with a loan center half way across the country. And our clients are promised a better loan rate!

The current rate for a 30-year fixed conforming loan (up to $417,000) is 4.625%; a jumbo conforming loan ($417,000 to $729,750) is 4.75%; and for a jumbo loan to $1,500,000 the rate is 5.5%.

Will You Qualify For A Move-Up Homebuyer Tax Credit?

Elaine Carlson (Remax Palos Verdes Realty) — Sat, 21 Nov 2009 18:50:34 -0600

This Homebuyer TaxCredit of $6,500 (married couple) is available as of November 6, 2009 for couples with combined adjusted gross incomes that do not exceed $225,000 (for singles a $3,250 credit and adjusted gross income not exceeding $125,000). You must be in contract on a new home by April 30, 2010, and must close escrow by June 30, 2010.

The homeowner must have owned the prior residence for a consecutive 5 out of the last 8 years. The new house cannot cost more than $800,000 and must become your main residence as of the date of close of escrow. You do not have to sell your current home (you may rent it out).

As noted in my November 6th article, "...credit will help sellers of Palos Verdes real estate as they increase the pool of buyers for their properties with "trickle up" activity for Palos Verdes buyers who have sold their homes" to buyers taking advantage of this credit. To date in 2009, Palos Verdes Peninsula has had 44 single family homes and 112 townhomes/condos sell for $800,000 or less. That is 11% for single family residences and 96.5% of the total townhome/condo market.

This is a great time to buy - Interest rates are at historic lows and until April 30th you can get a tax credit. Kenneth R. Harney in a Los Angeles Times articles writes, "do not assume that Congress will provide another extension. All the political and budgetary signs point the other way, and some of the primary authors of the credit insist that this is it - no more extensions next year. Take them at their word."

October 2009 Market Statistics for Palos Verdes

Elaine Carlson (Remax Palos Verdes Realty) — Thu, 19 Nov 2009 21:07:38 -0600

Statistics for the month of October 2009 for Palos Verdes real estate are now available and they again indicate stability in our market. The Active number of homes for sale in Palos Verdes have continued to decrease to an all time low (in the last 15 months) of 292 homes currently available for sale. 66 homes Sold/closed escrow in October and 76 homes have Pending Sales which is twice as many as October 2008 yet consistent with the prior five months of 2009. Our sales have been holding.

The average price for all homes (including townhomes/condos) that sold in October was $1,140,000 and average price per square foot was $471 which is about average for the prior 6 months. Average Days on Market in October spiked to 110 days from 73 in September. Months of Inventory (months it would take to sell existing inventory at the current rate of sale) for October was 4.4 months down from 14 months for October 2008 and consistent with the prior three months. Entire charts can be accessed by clicking here

Currently, there are 273 homes for sale on the Palos Verdes Peninsula. Additionally 64 homes have pending sales, 59 homes are in escrow accepting backup offers and 23 homes have sold/closed escrow in the first 13 days of November.

Top Tuesday Tour Tips

Elaine Carlson (Remax Palos Verdes Realty) — Tue, 17 Nov 2009 19:57:02 -0600

There were 18 homes on the November 10, 2009, Palos Verdes real estate Broker's Tour. We currently have 230 active single family homes for sale in Palos ranging in price from $750,000 in Rancho Palos Verdes to $14,900,000 in Rolling Hills (the low in Eastview is $625,000). There are 51 townhomes/condos for sale priced between $250,000 and $1,500,000. My favorites were:

Laurie Hurley's 7400 Alida Place, Rancho Palos Verdes, (above left) is a 4 bedroom, 4 bath, 3,851 square foot home for $1,998,500. This West PalosVerdes home features a state of the art kitchen, large master suite and ocean views. Les Fishman's 2637 Via Valdez, Palos Verdes Estates, (above right) is a 5 bedroom, 4 bath, 2,781 square foot home for $1,299,000. This Margate home has ocean views, a pool and a huge bonus room.

Gabrielle Herendeen's 26864 Eastvale Road, Palos Verdes Peninsula, (above left) is a 4 bedroom, 3 bath, 2,037 square foot home for $999,000. This Westfield home has vaulted ceilings, a master suite w/fireplace, and is on a 23,920 square foot equestrian lot. Jessica Kim's 27926 Ridgecove Court, Rancho Palos Verdes, (above right) is a 2 bedroom, 2 bath, 1,159 square foot townhouse for $511,000. This bright and airy Ridgegate townhome has a private patio leading to a detached two car garage.

Photos courtesy of MRMLS

The Annenberg Project in Rancho Palos Verdes

Elaine Carlson (Remax Palos Verdes Realty) — Mon, 16 Nov 2009 19:32:33 -0600

The Annenberg Foundation has an Environmental Impact Report in progress for its multimillion dollar project at Lower Point Vicente. Plans have also been submitted to the city of Rancho Palos Verdes for approval and a formal application is anticipated soon.

"The proposal, based on a comprehensive study of the community done in concert with the development of the Coast Vision Plan, includes using architecture, art and exhibits to inform the public about Palos Verdes geology, history, marine ecology, terrestrial animals and habitats..." according to the Rancho Palos Verdes site (which can be accessed by clicking here). The Center would focus on providing education, science, behavior and care of animals and animal adoption opportunities. There will be an outdoor reconstructed Tongva Village, an archaeological dig, picnic areas, restroom facilities, and trails.

All this at "Zero cost to the city" according to the Annenberg power point presentation (which can be accessed by clicking here). The Annenberg Foundation's budget for this project is $38,000,000 to $42,000,00 and they will also to fund operations. This will be a project to watch!

Photo courtesy of Annenberg Foundation

Portuguese Bend Beach Club

Elaine Carlson (Remax Palos Verdes Realty) — Sun, 15 Nov 2009 16:17:34 -0600

Portuguese Bend Beach Club is a guard gated beach community located off Palos Verdes Drive South in Rancho Palos Verdes. This small neighborhood of approximately 90 homes has a private sand beach (one of the few private beaches in Southern California) with its own lifeguard in the summer months. The private beach has barbecue fire pits, volleyball, paddle tennis and a children's playground. Wouldn't you love to walk out your door to your own beach?

Most homes have panoramic ocean views. Some of the homes are used as summer homes and rented out during the winter months. There is a waiting list for beach club membership of over 160 families (who do not actually live in the Portuguese Bend Beach Club). Membership is automatic for homeowners of the PBBC and there is a homeowners association and dues.

There are currently 4 homes for sale in the Portuguese Bend Beach Club ranging in price from $1,069,000 for a 2 bedroom, 1 bath, 810 square foot home to $2,499,000 for a 4 bedroom, 3 bath, 2019 square foot home.

Palos Verdes City Managers' Update

Elaine Carlson (Remax Palos Verdes Realty) — Fri, 13 Nov 2009 18:37:46 -0600

Last week, I heard the City Managers from all 4 cities on the Palos Verdes Peninsula speak at the Palos Verdes Peninsula Association of Realtors meeting. Here is a synopsis of their update:

Joseph Hoefgen, City Manager of Palos Verdes Estates, told us that the PV Dr West stabilization near Bluff Cove begins in a couple of weeks and should be complete in January 2010. The Golf Club has a shorter wait list (now 160 down from 200). Both the Tennis Club and Stables have vacancies and the Beach Club has "many years" wait list. Two sewer pump stations in Lunada Bay will be replaced. The city is redoing their website. 54% of the city budget comes from property taxes.

Tony Dahlerbruch, City Manager of Rolling Hills, spoke of lessons learned from the recent fire. Residents need a plan for evacuation for themselves and their horses and decide what to do if they can't get back into the city in an emergency situation (Rolling Hills closed all 3 gates during the recent fire). As Rolling Hills is in a "very high severity fire zone", residents must have a 200 foot clearance ar0und their homes and must clear their own canyons. The city is also looking at a low pressure sewer system (presently 99% of city is on septic).

Sam Weiss, Assistant Manager for Rolling Hills Estates, told us there is a draft Environmental Impact Report for the Chandler Quarry (to be filled in and 100-200 houses built)/Rolling Hills Country Club (building moved) project. All commercial property must be landscaped during the interim planning submission period and not left with the green fencing. 29,000 square foot medical office condo project was approved at Silver Spur and Beachgate. A 5 foot bike lane (on both sides of the street) will be installed on Palos Verdes Drive North from Crenshaw west to the city border. The Festival of Lights will be on December 5, 2009.

Carolyn Lehr, City Manager of Rancho Palos Verdes, announced that 160 acres of land had been purchased from York/Long Point and included into the Land Conservancy area. The Annenberg Foundation will pay for parking lot improvements at Point Vicente Interpretive Center and has proposed an adjoining Educational Facility. Trader Joes is building an 11,000 square foot store at Golden Cove scheduled to be open in February 2010. Grading should begin in November 2010 on the 34-unit Affordable Housing Complex (62 years and older) at Crestridge and Crenshaw.

Palos Verdes School Distrct High Credit Rating

Elaine Carlson (Remax Palos Verdes Realty) — Thu, 12 Nov 2009 13:20:16 -0600

The Palos Verdes Unified School District received a AA+/Aa2 credit rating from Standard & Poor's and Moody's Investor Services. This is one of the highest ratings that a California school district can get and there are only 16 public school districts in California that have a AA+ or better.

Owners of Palos Verdes real estate should be proud both of the School District, for their excellent management, and themselves for the school bonds that we have voted upon ourselves to make up for the shortfall from the State. Additionally, Peninsula Education Foundation funds many programs that the State no longer does and our PTAs also step in financially where allowable to keep our school district strong. Finally, congratulations to all the parents in the district who work tirelessly for our children's education and well-being.

A copy of the entire press releasae can be accessed by clicking here.

Above photo is of Malaga Cove School

Palos Verdes Household Hazardous Waste Drop-off

Elaine Carlson (Remax Palos Verdes Realty) — Wed, 11 Nov 2009 18:08:32 -0600

Owners of Palos Verdes real estate have several options to dispose of their household hazardous waste. There is the permanent collection center in San Pedro - S.A.F.E. Collection Center, 1400 N. Gaffey Street which is only open Friday, Saturday and Sunday from 9:00 a.m. to 3:00 p.m. but does not accept electronic waste.

Electronic waste (televisions, computers, etc) can be dropped off by Palos Verdes Estates residents at City Hall Monday through Friday from 8:00 a.m. to 12 noon. You can park on PV Dr West near the "electronic waste" sign and ask for assistance from someone at the Streets and Parks Department.

On November 14, 2009, there is a one-day collection event at the Raytheon Company in El Segundo on Howard Hughes Way in Parking Lot G. Please click here for more information and a schedule of other hazardous waste events or call 1-800-98-TOXIC.

Photo courtesy of City of PVE Newsletter

Top Tuesday Tour Tips

Elaine Carlson (Remax Palos Verdes Realty) — Tue, 10 Nov 2009 17:57:12 -0600

There were 15 homes on the Palos Verdes real estate Broker's Tour. We currently have 244 active single family homes for sale in Palos Verdes ranging in price from $750,000 in Rancho Palos Verdes to $14,900,000 in Rolling Hills (the low in Eastview is $599,900). There are 50 townhome/condos for sale priced between $230,000 and $1,500,000. My favorites were:

Rick and Kitty Edler's 36 Ranchview, Rolling Hills Estates, (above left) is a 5 bedroom, 5 bath, 4,136 square foot home for $2,199,000. This updated Palos Verdes Drive North home features a gourmet kitchen, separate office and pool on a 24,859 square foot lot. Phyllis Weitzman's 20 Avenieda De Azelea, Rancho Palos Verdes, (above right) is a 4 bedroom, 3 bath, 4,157 square foot home for $1,699,000. This Mira Catalina home is located in a guard gated community and has fabulous ocean/Catalina/harbor views and room for a pool.

Pamela Lieb's 908 Via Mirada, Palos Verdes Estates, (above left) is a 4 bedroom, 4 bath, 3,895 square foot home for $2,600,000. This remodeled Montemalaga home has panoramic views, a 800 sq ft master suite, and a pool. Janet Stearns' 3005 Via Borica, Palos Verdes Estates, (above right) is a 3 bedroom, 3 bath, 2,978 square foot home for $1,489,000. This remodeled Lunada Bay home has a new gourmet kitchen, ocean views and a master suite with sauna/exercise room/& sunroom.

Photos courtesy of MRMLS

Mixed News on Defaults/Foreclosres for Palos Verdes

Elaine Carlson (Remax Palos Verdes Realty) — Tue, 10 Nov 2009 13:20:43 -0600

Yes, we do have foreclosures in Palos Verdes real estate. Currently there are 2 active single family residences and 1 condo that are REOs (or bank-owned properties). 669 Via Del Monte, Palos Verdes Estates, is a 4 bedroom, 3 bath, 3,469 square foot home listed for $1,449,900. 4053 Via Pavion, Palos Verdes Estates, is a 4 bedroom, 3 bath, 2,336 square foot home listed for $999,900. 3601 W Hidden Lane #121, Rolling Hills Estates, is a 2 bedroom, 2 bath, 1,131 square foot condo listed for $415,000.

Although Palos Verdes is not immune to foreclosures, our rate is much lower than most of Los Angeles County. Since the beginning of the year, 10 single family residences and 10 condo/townhomes that have sold were REOs. There are currently 2 single family residences and 1 condo/townhome that have pending sales and are bank-owned.

According to the Los Angeles Times, "Signs are emerging that a much feared escalation of California home foreclosures may not happen, as banks respond to government pressure and scale back their repossessions of troubled properties." It appears the banks are working with homeowners allowing loan modifications and short sales. This will assist in the stabilization of the real estate market.

Graph courtesy of LA Times

Palos Verdes API Scores

Elaine Carlson (Remax Palos Verdes Realty) — Mon, 09 Nov 2009 20:44:39 -0600

Palos Verdes Schools again had API (Academic Performance Index) scores above 900 for the 2008-2009 school year. The district had an overall score of 908 which was up from the 2007/2008 base of 901.

The 10 elementary schools all scored well above 900 with Cornerstone receiving the highest score of 966. The 3 middle schools scored between 897 and 947 with Palos Verdes Intermediate scoring the highest at 947. The 2 high schools scored 886 for Peninsula High School and 864 for Palos Verdes High. A complete list of school scores can be accessed by clicking here.

Attending the Parent's Back To School Night for my son who is a freshman at Palos Verdes High was very revealing. The classes were exciting and very demanding and way beyond what my husband and I learned in high school.

Homebuyer Tax Credit Changes

Elaine Carlson (Remax Palos Verdes Realty) — Mon, 09 Nov 2009 11:53:34 -0600

Both the House and Senate have passed the new extended/expanded Homebuyer Tax Credit and it is now awaiting the President's signature. Previously, the first time buyer credit of $8,000 was to expire on November 30, 2009, but it will now be extended to April 30, 2010.

The new bill also includes a $6,500 credit to qualified homeowners looking to "move up" by purchasing a replacement home for $800,000 or less. According to the Los Angeles Times, "...the legislation would raise the qualifying income levels to $125,000 for individual filers and to $225,000 for joint filers." Please click here to view a full-page version of the chart above from National Association of Realtors.

Both of these credits will help sellers of Palos Verdes real estate as they increase the pool of buyers for their properties with "trickle up" activity from Palos Verdes buyers who have sold their homes to to first time buyers. And to date in 2009 Palos Verdes Peninsula has had 40 single family homes and 108 townhomes/condos sell for $800,000 or less.

Updated Bluff Cove Road Repairs

Elaine Carlson (Remax Palos Verdes Realty) — Sun, 08 Nov 2009 20:21:59 -0600

Red pylons have adorned the Bluff Cove area of Palos Verdes Drive West for so long that I actually don't see them anymore. The repairs to the road above Bluff Cove are scheduled to finally begin October 26 and the City of Palos Verdes Estates hopes to have it completed by Christmas 2009. I say finally because the land has been moving since the 1980s and the road's striping was moved further east (against the hillside) in the early 1990s.

According to the Peninsula News, "The stabilization of PV Drive West will entail the construction of either a soldier pile (steel beam) retaining wall with seismic design, or a soldier pile wall with tiebacks (anchors) and seismic design..." They will attempt the repairs without closing the road but may possibly go to one lane between 9:00 a.m. and 3:00 p.m. This will impact traffic flow so best to plan ahead and perhaps use an alternate route. An amazing 17,000 cars a day pass this Bluff Cove area on Palos Verdes Drive West.

For more background on the history of the landslide and repairs, please see my prior article on June 16, 2008 by clicking here.

Top Tuesday Tour Tips

Elaine Carlson (Remax Palos Verdes Realty) — Sat, 07 Nov 2009 18:14:14 -0600

There were 10 homes on the October 13, 2009, Palos Verdes real estate Broker's Tour. We currently have 247 active single family homes for sale in Palos Verdes ranging in price from $750,000 in Rancho Palos Verdes to $14,900,000 in Rolling Hills (the low in Eastview is $600,000). There are 56 townhome/condos for sale priced between $220,000 and $1,500,000. My favorites were:

Pearl Kaperl's 4324 Cartesian Circle, Palos Verdes Peninsula, (above top) is a 5 bedroom, 4 bath, 3,384 square foot home for $1,599,000. This Academy Hill home has updated kitchen and baths as well as a fabulous outdoor entertaining area with pool, spa, rock water fall, built-in barbecue and firepit. Cindy Chew's 14 Hitching Post, Rolling Hills Estates, (above bottom) is a 4 bedroom, 4 bath, 2,847 square foot home for $1,189,000. This Palos Verdes Drive North home has an elegant Southern style balcony, a separate bonus room and a separate wine cellar.

Rick Edler's 36 Eastfield Drive, Rolling Hills, (above) is a 6 bedroom, 7 bath, 6,000 square foot home for $3,999,000. This Rolling Hills estate designed by famous architect Chris Gunderson features panoramic views and an enormous great room which opens to an infinity pool.

September 2009 Market Statistics

Elaine Carlson (Remax Palos Verdes Realty) — Sat, 07 Nov 2009 18:09:01 -0600

Statistics for the month of September for Palos Verdes real estate are now available and for the numbers indicate stability for the last 5 months. As you will note from the graph above, the number of active single family homes for sale in Palos Verdes has been falling for the last several months and is an all time low (for the last 15 months) of 247. For the month of September, there were 49 homes that sold/closed escrow (August had 51) and 64 homes had pending sales (the same as September).

The average price for homes that sold in September was $1,343,000 and the average for the last five months was $1,327,000. Average Days on Market for the last 5 months have fluctuated between 66 and 88 days; for September the Average Days on Market was 77. Months of Inventory (months it would take to sell existing inventory at the current rate of sale) for September was 5 months down from 5.4 months in August. Entire charts can be accessed by clicking here .

Currently, there are 246 single family homes for sale on the Palos Verdes Peninsula. Additionally 52 homes have pending sales, 48 homes are in escrow accepting backup offers and 21 homes have sold/closed escrow in the first 11 days of October.

Top Tuesday Tour Tips

Elaine Carlson (Remax Palos Verdes Realty) — Fri, 16 Oct 2009 13:10:39 -0500

There were 18 homes on the September 29, 2009, Palos Verdes real estate Broker's Tour. We currently have 248 active single family homes for sale in Palos Verdes ranging in price from $750,000 in Rancho Palos Verdes to $18,900,000 in Rolling Hills (the low in Eastview is $565,000). There are 60 townhome for sale price between $218,000 and $1,500,000. My favorites were: Click here to continue reading.....

First Time Buyer Credit

Elaine Carlson (Remax Palos Verdes Realty) — Mon, 12 Oct 2009 12:23:14 -0500

In Washington and beyond, the discussion is stirring as to whether to extend the First Time Home Buyer Tax Credit of $8,000 which is set to end November 30, 2009. I believe extending this credit will benefit homeowners across the board including owners of Palos Verdes Real Estate.

At first glance, it may not look beneficial to owners of Palos Verdes real estate because the applicant's income cannot exceed $75,000 (or $150,000 for married couples) and property values here begin in the $700,000s. Click here to continue reading......

And The News Keeps Getting Better

Elaine Carlson (Remax Palos Verdes Realty) — Thu, 01 Oct 2009 12:28:27 -0500

More good news for Palos Verdes real estate! Southern California median home prices rose again for the fourth straight month as reported in the Los Angeles Times this week. "And although home values are still dropping in many neighborhoods, rising home sales and median prices are "all symptomatic of a bottoming out" and the worst days of the housing market are probably over, Leamer said." (UCLA economist Edward Leamer). Click here to continue reading.....

Top Tuesday Tour Tips

Elaine Carlson (Remax Palos Verdes Realty) — Tue, 29 Sep 2009 13:40:33 -0500

There were 23 homes on the September 15, 2009, Palos Verdes real estate Broker's Tour. We currently have 259 active single family homes for sale in Palos Verdes ranging in price from $750,000 in Rancho Palos Verdes to $18,900,000 in Rolling Hills (the low in Eastview is $599,000). There are 49 townhomes/condos for sale priced between $218,000 and $1,500,000. My favorites were: Click here to continue reading.....