Jack McSweeney's Rancho palos Verdes California Blog

Beautiful Luxury home for sale in Palos Verdes Estates

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Fri, 23 Oct 2009 12:38:31 -0500

This is an absolutely stunning Ocean View property and entertainers delight. It has been remodeled from the ground up with designer touches and no expense was spared. Throughout the house are Walker and Zanger stone and tiles. Most of the stone floors are heated, including the kitchen. It has a huge formal living room, beautiful entry with wrought iron railing, elegant formal dining room and one of the nicest gourmet kitchens you will ever see! It has Viking appliances (all professional), 6 burner stove with two ovens, another oven and microwave, warming drawer, wine cooler, ice maker and a big Sub-zero refrigerator. Granite counters and island with sink. Built in vacuum system. Two family rooms, one with a custom bar. 5 bedrooms plus office including Suite with a gorgeous master bath. House is wired for Cat6, HDMI and Cameras. Private backyard with black bottom pool with waterfall. View meditation garden. Four car (tandem) garage and circular driveway.

Rancho Palos Verdes - Aug 2009

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Mon, 24 Aug 2009 00:44:16 -0500

The Graph tells the story.

There are currently 122 single Family homes for sale and 24 Condo's and Townhomes for sale. Single family homes start at $330,000 for studio with 1 bath, 663 sq.ft home on a 1300 sq.ft.lot to $6.995 million for a 4 br, 7 bath, 7800 sq.ft home on a 57,000 sq.ft lot. Condo's and townhomes start at $349,800 on the east side of the hill for a 1 br, 1 bath and go up to $795,000 for a 2 br, 3 bath..

There are currently 79 homes in escrow... Average time on the market is about 69 days.

March 29th, 2009 update for RPV

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Mon, 30 Mar 2009 01:32:40 -0500

There are currently 105 single Family homes for sale and 40 Condo's and Townhomes for sale. Single family homes start at $849,000 for 3 br, 2 bath, 1800 sq.ft home on a 15,000 sq.ft.lot to $6.9 million for a 5 br, 7 bath, 10,000 sq.ft home on a 30,000 sq.ft lot. Condo's and townhomes start at $249,000 on the east side of the hill for a 2 br, 2 bath and go up to $925,000 for a 3 br, 3 bath overlooking Point Vincente Park with Catalina Views.

There are currently 39 homes in escrow... Average time on the market is about 79 days.

update for Rancho Palos verdes 10-15-08

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Wed, 15 Oct 2008 14:51:14 -0500

There are currently 128 active listings for property for sale. Prices range from $619,000 for a 2 bedroom, 1 bath home off Palos Verdes Drive East to $6,900,000 for 5 Bedrooms, 7 Bath home on Emerald View Drive. That is overlooking Trump National Golf course.

Rancho Palos verdes boasts wonderful ocean views and excellent schools and very much nmore.

We are so lucky to be involved in Rancho Palos Verdes Real Estate

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Tue, 07 Oct 2008 16:20:22 -0500

Anyone who may have been driving down Hawthorne Blvd this morning facing Catalina island was in for a treat. The ocean was like a mirror reflecting all the majesty of the whole island. It was a postcard scene. It was just another special day in Rancho Palos Verdes.

The market continues to hold up better here than most other area's of the state. At the current time there are 139 single family residences for sale in the city from $578,000 (short sale) to $6,900,000. There are currently 36 homes in escrow and the average time on the market is still around 95 days.

I continue to advise all my clients to get approved for their loans with 2 different lenders in this tough credit market. All the lenders I recommend don't mind this, because they know us Realtors have been competing with each other even during the good markets.

Having seen the dow jones average go down 35% this year, I still believe real estate should be everyones primary investment.

815 Main Street #302, El Segundo, CA 90245

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Tue, 15 Jul 2008 18:52:31 -0500

2 BR, 2 bath condo near shopping , LAX and Freeways of Loa Angeles. http://815mainst.com $480,000

140 Vista del Parque, Redondo Beach, CA., 90277

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Mon, 07 Jul 2008 11:21:31 -0500

This is an updated home adjacent to El Retiro Park. The back gate actually opens to the park and library. It has granite counters and beautiful tile floors in the kitchen and refinished hardwood floors in the two bedrooms upstairs and Living room. There are two fireplaces, one in the Living Room and another in the Family Room, downstairs. The whole downstairs is tastefully tiled including the third bedroom and separate Laundry room and 3/4 Bath. There is also a big, unfinished room off the family room that could be converted to a fourth bedroom. The whole house has been painted, inside and out. It has a huge backyard and the front yard has new sod and automatic sprinklers. The garage has a new aluminum door and opener.

$999,800 See more at http://140vistadelparque.com

RPV market update

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Fri, 27 Jun 2008 18:05:29 -0500

There are currently 133 single Family homes for sale and 29 Condo's and Townhomes for sale. Single family homes start at $569,000 for 2 br, 2 bath, 1200 sq.ft home on a 6,500 sq.ft.lot to $6.9 million for a 5 br, 7 bath, 10,000 sq.ft home on a 30,000 sq.ft lot. Condo's and townhomes start at $299,000 on the east side of the hill for a 2 br, 2 bath and go up to $899,000 for a 2 br, 2 bath overlooking Trump National golf course with Catalina Views.

There are currently 59 homes in escrow... Average time on the market is about 75 days.

431 Calle de Castellana, Redondo Beach, CA., 90277

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Mon, 07 Apr 2008 15:38:04 -0500

Price has been adjusted to sell on this 4 BR, 2.5 bath spacious split level home. Come and see this Queens Necklace and City View home. Location, location, location on this upper Riviera mid-century home with nice size front and back yard that has fruit trees. The home is on popular Hollywood Riviera residential street known for its neighborhood block parties. 2 wood burning fireplaces. 2 car garage. Light and Bright. A must see. Outside has recently been professionally painted.

1206 S. Catalina Ave. #A, Redondo Beach, CA. 90277

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Mon, 07 Apr 2008 15:32:41 -0500

This is a beautifully maintained 3 BR, 2.5 Bath Townhome walking distance to the Ocean, Riviera Village and Pier. It has two bedrooms on the street level and the master is on the 2nd level on the Living area. Up one more set of stairs is the mezzinine office area with access to one of the 3 balconies. This is a must see if your goal is to live near the water. $1,369,000.

815 Main Street, El Segundo, CA 90245

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Mon, 07 Apr 2008 15:22:49 -0500

Stunning Condo, walking distance to schools and downtown. It has 2 Bedrooms, 1 3/4 baths, remodeled kitchen, smooth ceilings and shows pride of ownership. $509,000 Amenities include swimming pool and spa, elavator.

December 31, 2007 Listings update

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Mon, 31 Dec 2007 17:45:03 -0600

First of all I would like to wish everyone a HAPPY NEW YEAR!

The Palos Verdes Peninsula only has a total of 148 single family home listings at the present time, of those, there are only 84 in Rancho Palos Verdes. Only 26 0f those listinga are under $1 Million. So, as you can imagine, the inventory is quite managable and in some cases it is still hard to find the right property for your qualified buyers. I am currently working with four different buyers and at this point I am at a standoff until more listings come on the market.

I just put a listing in escrow on Avenida Esplendida and I had 5 offers in less that 7 days. See below.

So, what the rest of the nation is reading in the papers about how tough things are, really doesn't apply to Rancho Palos Verdes.

Rancho Palos Verdes general info

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Tue, 28 Aug 2007 14:35:07 -0500

http://www.palosverdes.com/rpv/ - The city website.. Rancho Palos Verdes is a quiet, affluent suburb of Los Angeles situated on the Palos Verdes Peninsula. It has a spectacular coastline on the Pacific Ocean. Santa Catalina Island is visible on clear days. The Trump National Golf Course, owned by the Donald Trump organization, is surrounded by expensive homes with views of the golf course and blue waters of the Pacific Ocean. Point Vicente Lighthouse, built in 1926, is another scenic place not far away. The Coast Guard still runs the lighthouse. Los Verdes Golf Course is just off Hawthorne Blvd. and also has beautiful homes around it with great views.

A book that helped me alot... and still does!

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Sun, 26 Aug 2007 17:18:54 -0500

Every once in a while you come across a book that really give good ideas and is entertaining at the same time.

About 2 years ago I was a member of "By Referral Only" and joined the coaching service. I had a coach that really wasn't a whole lot of help because she acted more like a 'shrink' that a motivator. But she did recommend a book to read called "Mr. Shmooze, The art and Science of selling through relationships" by Richard Abraham, that I thought was real good, and I will always be thankful to her for...

It's not like you would do everything mentioned in the book, but it sure gives you some ideas and acts as a refresher course about how to be thoughtful, and at the same time retain clients... After all, isn't this business about keeping clients and having them remember us and referring their friends to us? I try to read the book over again every 6 months... it is great, comments?

lenders, check out this site..

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Sun, 26 Aug 2007 15:55:52 -0500

I shared this tidbit with a couple lenders and they seemed to like it, so I decided to share it on active rain... I have no personal interest in the site myself.

There is a website called "ratemailer" ( http://Ratemailer.com ) that some of my mortgage business friends are using. It makes keeping in contact with your clients while giving the latest news and rates very easy. Check it out, if it works for you, great.

Market chart up to July 2007 for Rancho Palos Verdes

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Tue, 21 Aug 2007 17:37:36 -0500

As you can see, the number of listings is up from April, when I last ran the Statistics but so are sales.

This market is still moving but takes more time on the market than we are used to over the past 4 years. All in all a normal market like this is better for us in the long run.

The FED Reacts: Better late than never.

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Fri, 10 Aug 2007 10:50:19 -0500

One thing we have to realize is that the Federal Reserve does not always react when it is obvious to those of us that see what is going on in the trenches! The FED today has now reacted to the situation :

"The Federal Reserve, in a statement that underscores the deepening severity of developments in credit markets, said it is "providing liquidity to facilitate the orderly functioning of financial markets," and will pump enough money into credit markets to keep the Fed's target for the federal funds interest rate at 5.25%. U.S. federal-funds futures early Friday priced in about a 100% chance that the Federal Reserve will reduce its key lending rate by a half-percentage point to 4.75% by the next policy meeting on Sept. 18." ...from The Wall Street Journal on August 19,2007

One thing to remember is that no matter what the FED does, it takes time to see the effects and it always overdoes everything. If it is in a 'raise rates' mode, it usually raises them too high. It makes it's decisions based on lagging indicators. There is no quick fix.

The FED action today (injecting money into the system) was done primarily to help stabilize the Mortgage backed securities market. Their next move will most likely be to reduce interest rates, currently standing at 5.25%. This is the rate banks charge each other on overnight loans.

336 N. Gaffey, San Pedro, CA 90731

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Wed, 11 Jul 2007 11:00:06 -0500

Built in 1990, this commercial office building is listed at $2.2 Million. Cap rate is 6.7 and is listed at about 12.5 X gross. Good signage possibilities.

I love referrals! South Bay area of Los Angeles. Cities include: Palos Verdes, Rancho Palos Verdes, Rolling Hills Estates, Torrance, San Pedro, Redondo Beach, Hermosa Beach, Manhattan Beach and El Segundo.

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Fri, 08 Jun 2007 00:24:39 -0500

If you refer someone to me, they will be treated like Family! Call me to discuss the situation in advance at 310 346-0391. Jack McSweeney, 310 346-0391.

23407 Shadycroft Ave, Torrance, California, 90505

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Fri, 08 Jun 2007 00:00:52 -0500

Wonderful remodeled home in Hollywood Riviera section of Torrance California. # bedrooms, 1.5 baths, Granite in totally redone Kitchen. Concrete driveway with brick accents and a 2 car Garage. Lot size is almost 7800 sq.ft. Award winning Torrance schools. 5 minutes by car to the ocean. $959,000 See it at: http://shadycroft.com

No need to prevue this gorgeous listing.

Thoughts on interest rates and the bond markets.

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Fri, 18 May 2007 22:29:19 -0500

It was interesting reading yesterday in the Wall Street Journal about Bill Gross of the PIMCO bond fund based in Newport Beach, California. He is one of the most successful Bond fund managers in the United States if you look at his record over the past 15-20 years, averaging around 8% profits on a yearly basis, when most other fund managers considered 'successful' average between 4 or 5%.

Well it seems 2006 and so far this year, he has fallen in rank, much to the delight of some other managers.

He did so because he was betting that interest rates would be coming down, so he went long (Owned) bonds. Of course we all know that when bonds go up, yields come down. Well he was wrong with a sizable bet. Now, you know a guy like Bill doesn't put all his eggs in one basket, that's why he still managed a normally profitable year.

The point of all this is that he is still betting on interest rates coming down and knowing him over the long haul, he will be right shortly. If he is, then I don't have to tell you what lower rates will do for the housing market...

Another surprise was that he disclosed that Alan Greenspan would be coming aboard as an adviser to his PIMCO fund... He will most likely be saying good things about the housing market and lower rates shortly too... Nobody likes higher rates in election years...

Rancho Palos Verdes California Stats

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Thu, 17 May 2007 15:49:11 -0500

Sometimes a graph say's it all!

These graph's show you exactly what the inventory is doing in Rancho Palos Verdes, California. As you can see the inventory of available single family homes has risen to ninety, from a low of seventy in February 2007, but notice the high last July when there were 166 single family homes for sale. About the same ratio holds true for Condo's and Townhomes. Next month should be interesting. Comment to me welcomed.

Palos Verdes Peninsula Inventory is low.

Jack McSweeney, SRES, e-PRO, PVS (RE/MAX Palos Verdes Execs) — Thu, 15 Mar 2007 00:37:33 -0500

The Palos Verdes Peninsula Active listing Inventory is low. In the last six month the single family home inventory went from 289 active listings last September, all the way down to 130 now. Needless to say we are again seeing some multiple offer situations on the best listings.

A total of 72 homes have sold on the Palos Verdes Peninsula since the first of the year. Average days on the market was 63. Prices ranged from $810,000 (2 br, 2 bath, 1291 sq.ft home built in 1950) to $6.9 million (7 br, 6.5 bath, 10,000 sq ft home built in 2006) , with the average sale price at $1.61 million.