Favorite Palos Verdes Homes – August 21, 2018
My favorite Palos Verdes Homes on the August 21, 2018, Palos Verdes real estate Broker’s Tour (25 homes had open houses today) are described below. We currently have 217 single family Palos Verdes homes for sale ranging in price from $985,000 in Rancho Palos Verdes (The low in Eastview is $775,000) to $23,888,000 in the city of Palos Verdes Estates. There are 30 Palos Verdes condos/townhomes for sale priced between $579,000 and $1,995,000. My favorite Palos Verdes homes today are:
Chris Adlam’s (Vista Sotheby’s Int’l Realty) 1108 Via Mirabel, Palos Verdes Estates, 90274 (above left) is a 6 bedroom, 8 bath, 10,079 square foot home for $10,900,000. This fabulous custom Monte Malaga estate features a chef’s kitchen, large wine cellar, 5 bedroom suites including the palatial master suite with his/hers baths, a 2 room guest house, and pool/spa on nearly an acre of lushly landscaped grounds. Michelle Accetta’s (Beach City Brokers) 32020 Cape Point Drive, Rancho Palos Verdes, 90275 (above right) is a 5 bedroom, 6 bath, 5,940 square foot home for $4,499,000. This newly constructed Tuscan home at The Estates At Trump National features sweeping ocean and golf course views, gourmet kitchen w/massive island, 5 en suite bedrooms, and outside entertainment area with pool/spa.
Joanne Robinson’s (Berkshire Hathaway HomeServices California Properties) 1 Casaba Road, Rolling Hills Estates 90274 (above left) is a 5 bedroom, 6 bath 5,000 square foot home for $2,649,000. This newly constructed Palos Verdes Drive North Home features a gourmet kitchen w/large island & breakfast bar, gorgeous master suite with 2 walk/in closets, and over a 1/2 acre lot. Virginia Butler & Les Fishmen’s (Coldwell banker-PV Bch. Cities) 2112 Via Riviera, Palos Verdes Estates, 90274 (above right) is a 4 bedroom, 5 bath, 3,113 square foot home for $2,350,000. This spacious stylish remodeled Lunada Bay home features ocean views, master suite w/office area, sprawling lawns and is located on a 1/4 acre lot with pool/spa.
To read my prior article on favorite Palos Verdes homes click here.
Photos courtesy of CRMLS.
Palos Verdes real estate single family home sales in the first 20 days of August 2018 are 48 homes which is an decrease from the 52 Palos Verdes homes sold in the first 20 days of July and an increase from first 20 days of August 2017 (26). (It may take an additional week for some sales to post after the actual close of escrow). The average sales price for single family Palos Verdes homes from August 1st to date is $1,763,526 which is an decrease from last month’s average of $1,898,730 for this same time period and an increase from $1,591,277 last August.
In August 2018 to date, the highest priced Palos Verdes home sold for $6,500,000 and is located in the Monte Malaga neighborhood of Palos Verdes Estates and has 5 bedrooms, 5 baths and 4,482 square feet on a 31,351 square foot lot. This stunning custom home features jaw-dropping ocean views, welcoming kitchen w/unique circular island, butler’s pantry, vaulted ceilings, full height picture windows, family room w/bonus loft, and an outdoor fireplace. The lowest priced Palos Verdes home sold to date in August for $925,000 and is located in the Los Verdes neighborhood of Rancho Palos Verdes; this home has 3 bedrooms, 2 baths and 1,471 square feet on a 15,152 square foot lot.
We currently have 214 active single family Palos Verdes homes for sale priced between $985,000 in the Silver Spur neighborhood to $23,888,000 in the City of Palos Verdes Estates. To view Palos Verdes real estate statistics from May 2017 through July 2018, click here or on the “Statistics” tab above.
Photo of Vicente Point courtesy of Arvin Design
Palos Verdes Residents Celebrate National Honey Bee Day!
Palos Verdes home owners can learn more about the honey bee at the Palos Verdes Land Conservancy’s National Honey Bee Day celebration on August 25, 2018, from 11:00 a.m. to 12:00 noon at The White Point Preserve and Nature Center. At the celebration there will be an award winning author discussing how one of the world’s tiniest pollinators is essential to the global ecosystem. There will be a local beekeeper and author, Aimee Lissantheia, who will read from her award winning book “The Amazing Adventures of Melissa Bee.” Aimee will entertain families with her personal tales of beekeeping. The event is a really for people of all ages, since they will be discussing and explaining the journey of bees, and emphasize how important bee colony preservation is to our food chain.
This event is free and open to the public.
The White Point Preserve and Nature Center is located at 1600 West Paseo del Mar in San Pedro. For more information and to RSVP go to www.pvplc.org, or call (310) 541-7613.
Photo courtesy of the Palos Verdes Peninsula Land Conservancy.
Palos Verdes Home Sales Malaga Cove Neighborhood 1st Half 2018
Palos Verdes homes sales in the Malaga Cove neighborhood for the first half of 2018 decreased to 11 single family homes sold in 2018 compared to 15 in 2017. Price per square foot for Malaga Cove houses that sold in the first half of 2018 increased to $881 from $713 in 2017, a 23.6% increase. Average sales price for Malaga Cove homes sold in the first half of 2018 increased to $3,417,375 in 2018 compared to $2,162,467 in 2017. The most expensive Palos Verdes home sale in the Malaga Cove neighborhood was $9,250,000 and the lowest priced Palos Verdes home sale in the Malaga Cove neighborhood was $1,600,000.
Currently, the Malaga Cove neighborhood has 10 Palos Verdes homes for sale. There are 10 single family homes for sale ranging in price from $1,975,000 for a 2 bedroom/3 bath, 2,360 square foot home, to $18,900,000 for a 5 bedroom/6 bath, 8,846 square foot home. Currently, there are no condo/townhomes for sale in this area.
For background and history on the Malaga Cove Neighborhood Multiple Listing Area 163, please click here to read my prior article on this neighborhood.
To view current Palos Verdes home sales for the Malaga Cove neighborhood and real estate statistics for the entire Peninsula, please click here or on the “Statistics” tab above.
Photo of Malaga Cove Plaza courtesy of Arvin Design.
Palos Verdes homes sellers often ask how to choose the correct list price for their home. Below is an excellent article which answers this question:
How to Use Comparable Sales to Price Your Home
By: Carl Vogel Published: August 5, 2010
Before you put your home up for sale, understand how the right comparable sales help you and your agent find the perfect price.
How much can you sell your home for? Probably about as much as the neighbors got, as long as the neighbors sold their house in recent memory and their home was just like your home.
Knowing how much homes similar to yours, called comparable sales (or in real estate lingo, comps), sold for gives you the best idea of the current estimated value of your home. The trick is finding sales that closely match yours.
What makes a good comparable sale?
Your best comparable sale is the same model as your house in the same subdivision—and it closed escrow last week. If you can’t find that, here are other factors that count:
Location: The closer to your house the better, but don’t just use any comparable sale within a mile radius. A good comparable sale is a house in your neighborhood, your subdivision, on the same type of street as your house, and in your school district.
Home type: Try to find comparable sales that are like your home in style, construction material, square footage, number of bedrooms and baths, basement (having one and whether it’s finished), finishes, and yard size.
Amenities and upgrades: Is the kitchen new? Does the comparable sale house have full A/C? Is there crown molding, a deck, or a pool? Does your community have the same amenities (pool, workout room, walking trails, etc.) and homeowners association fees?
Date of sale: You may want to use a comparable sale from two years ago when the market was high, but that won’t fly. Most buyers use government-guaranteed mortgages, and those lending programs say comparable sales can be no older than 90 days.
Sales sweeteners: Did the comparable-sale sellers give the buyers downpayment assistance, closing costs, or a free television? You have to reduce the value of any comparable sale to account for any deal sweeteners.
Agents can help adjust price based on insider insights
Even if you live in a subdivision, your home will always be different from your neighbors’. Evaluating those differences—like the fact that your home has one more bedroom than the comparables or a basement office—is one of the ways real estate agents add value.
An active agent has been inside a lot of homes in your neighborhood and knows all sorts of details about comparable sales. She has read the comments the selling agent put into the MLS, seen the ugly wallpaper, and heard what other REALTORS®, lenders, closing agents, and appraisers said about the comparable sale.
More ways to pick a home listing price
If you’re still having trouble picking out a listing price for your home, look at the current competition. Ask your real estate agent to be honest about your home and the other homes on the market (and then listen to her without taking the criticism personally).
Next, put your comparable sales into two piles: more expensive and less expensive. What makes your home more valuable than the cheaper comparable sales and less valuable than the pricier comparable sales?
Are foreclosures and short sales comparables?
If one or more of your comparable sales was a foreclosed home or a short sale (a home that sold for less money than the owners owed on the mortgage), ask your real estate agent how to treat those comps.
A foreclosed home is usually in poor condition because owners who can’t pay their mortgage can’t afford to pay for upkeep. Your home is in great shape, so the foreclosure should be priced lower than your home.
Short sales are typically in good condition, although they are still distressed sales. The owners usually have to sell because they’re divorcing, or their employer is moving them to Kansas.
How much short sales are discounted from their market value varies among local markets. The average short-sale home in Omaha in recent years was discounted by 8.5%, according to a University of Nebraska at Omaha study. In suburban Washington, D.C., sellers typically discount short-sale homes by 3% to 5% to get them quickly sold, real estate agents report. In other markets, sellers price short sales the same as other homes in the neighborhood.
So you have to rely on your real estate agent’s knowledge of the local market to use a short sale as a comparable sale.
Carl Vogel, a freelance writer and former editor of The Neighborhood Works magazine, lives in a home in Chicago that is not typical of those nearby, so he appreciates a savvy comp.
“Visit HouseLogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®.”
Favorite Palos Verdes Homes – August 14, 2018
My favorite Palos Verdes Homes on the August 14, 2018, Palos Verdes real estate Broker’s Tour (26 homes had open houses today) are described below. We currently have 219 single family Palos Verdes homes for sale ranging in price from $985,000 in Rancho Palos Verdes (The low in Eastview is $775,000) to $23,888,000 in the city of Palos Verdes Estates. There are 28 Palos Verdes condos/townhomes for sale priced between $693,000 and $1,995,000. My favorite Palos Verdes homes today are:
Steven Watts’ (RE/MAX Estate Properties) 1 Clear Vista Drive, Rolling Hills Estates, 90274 (above left) is a 5 bedroom, 7 bath, 5,766 square foot home for $3,250,000. This fantastic custom farmhouse is located in The Ranch, a gated community, and features a gourmet kitchen w/butler’s pantry, great room, gorgeous master bath & second family room. Kitty Edler and Anne St.Cyr’s (Vista Sotheby’s Int’l Realty) 1416 Granvia Altamira, Palos Verdes Estates, 90274 (above right) is a 5 bedroom, 5 bath, 4,465 square foot home for $3,250,000. This entertainer’s paradise located in Monte Malaga features a spacious family room, sun room/breakfast area, secluded master suite w/enormous master bath, outdoor kitchen, and pool/spa.
Katharine Meier and Terry Niemann’s (Chadmar Real Estate LLC) 26 Bixby Ranch Road, Rolling Hills Estates, 90274 (above left) is a 4 bedroom, 5 bath, 3,658 square foot home for $2,600,000. This new”Modern Farmhouse” model at The Residences on the newly designed private Rolling Hills golf course will be completed in the Spring of 2019. This gorgeous home features sunset & golf fairways views, a fabulous kitchen, beautiful master suite, and dining room that opens to the backyard. Tuba Ghannadi’s (RE/MAX Estate Properties) 4057 Via Valmonte, Palos Verdes Estates, 90274 (above right) is a 4 bedroom, 5 bath, 2,797 square foot home for $2,186,000. This gorgeous Valmonte home features city light views, gourmet kitchen, 2 master suites and private guest house w/full bath.
To read my prior article on favorite Palos Verdes homes click here.
Photos courtesy of CRMLS.
Terranea’s New Cielo After Dark Ultra-Lounge!
Palos Verdes home owners have a fabulous opportunity to get out and enjoy the nightlight here on the Peninsula. Cielo After Dark has recently opened at Terranea Resort and this is a great location where you can gather under the stars at the ocean’s edge on Saturday evenings. This exclusive ultra lounge features live entertainment, dancing, and VIP bottle service.
Every Saturday the doors open at 8:00 p.m., for the 21 and over crowd to get together. The cost is $10 per person for resort guests, and $20 per person for all others. The night will feature some great entertainment and dancing with the music lineup as follows:
August 18, 2018 – JIMBO
August 25, 2018 – DJ RALPHZ
September 1, 2018 – JIMBO
September 8, 2018 – DJ ANNALISA MARIE
September 15, 2018 – JIMBO
September 22, 2018 – LAUREN PAPPAS
September 29, 2018 – JIMBO
The Terranea Resort is located at 100 Terranea Way, Rancho Palos Verdes, Ca. 90275.
Photo courtesy of Terranea Resort.
Palos Verdes Celebrates Port Of Los Angeles Fleet Week 2018
Palos Verdes homes owners will be celebrating LA Fleet Week August 31 through September 3, 2018, with the arrival of large navy ships (last year there were five) which will be visiting the Port of Los Angeles. The list of this year’s visiting ships are not published yet due to security issues, but you can check back one week before the August 31 to see which ships are coming to town. This is a great opportunity for Palos Verdes homes owners to tour these active duty ships for a one of a kind visit. The ship tour tickets will allow admission to one ship only at a specific designated time. You are limited to registering for six tickets at a time. The tickets are limited and registration fills up quickly. All tour guests must be pre-registered for ship tours. They are not available on site during the events. The 20 minute guided tours run from 9:30 a.m. to 3:40 p.m. Actual tickets must be in your possession; electronic ticket will not be accepted. To sign up for tickets go to https://www.lafleetweek.com
In addition to the tours, there will be outside entertainment offered from 12:00 noon to 5:00 p.m. A schedule of events will be posted every day at http://www.lafleetweek.com and will include musical entertainment as well as other types of individual acts. There will be a variety of food trucks on site. In addition to the the stage entertainment, there will be land side exhibits, a family STEM expo, military demonstrations, military aircraft flyovers, and fireworks staged along the port’s Main Channel.
The quintessential Southern California band leads an exciting line-up of music acts performing over the multi-day event (Aug. 31-Sept. 3). Opening with Steve Morris, The Beach Boys will perform on the Delta Air Lines main stage on Saturday night, followed by a spectacular laser light show set against the backdrop of the iconic Battleship IOWA. Once again, the Annenberg Foundation presents the free Saturday evening concert. Tickets are required and will be distributed electronically during the weeks leading up to Labor Day weekend. To receive important LA Fleet Week updates and event information you can sign up at www.LAFleetWeek.com.
LA Fleet Week is a patriotic tradition of the Navy, Marine Corps and Coast Guard that brings recently deployed military ships into major port cities for a week.
To read my last article on visiting ships at the Port of Los Angeles click here.
Photo courtesy of the Port of Los Angeles.
Palos Verdes real estate sales July 2018 for Palos Verdes homes decreased compared to June. 62 Palos Verdes houses sold in July compared to the 82 homes sold in June and decreased compared to the 78 homes that sold in July 2017. There were 51 Palos Verdes single family homes pending in July which decreased from the 75 homes pending in June. The number of active Palos Verdes homes for sale in July (226) was just about the same as the 225 homes for sale in June.
Average sales price for Palos Verdes homes sold in July decreased to $1,649,000 from $2,025,000 in June and decreased from the $1,812,000 in July 2017. Price per square foot for Palos Verdes houses that sold/closed escrow in July increased to $666 from June ($635). Average days on market in July decreased to 31 days from 54 days in June. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 3.6 months in July for Palos Verdes homes for sale compared to 2.7 months in June. A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is lower indicating the continuing high demand for Palos Verdes homes. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 220 single family Palos Verdes homes for sale. 68 Palos Verdes houses are in escrow (34 homes have pending sales and 34 homes are under contract). Additionally, 21 homes have sold/closed escrow in the first 9 days of August with an average sales price of $1,869,631.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
Rolling Hills Estates 61st Annual City Celebration!
The 61st Annual Rolling Hills Estates City Celebration will be held on Saturday, September 15, 2018, from 9:00 a.m. to 5:00 p.m. at Empty Saddle Club. This is an old fashioned celebration where Palos Verdes homes owners can enjoy activities all day such as equestrian events, hay wagon rides, pony rides, a petting zoo, watermelon eating contest, horse shoe and corn bag toss competitions, dunk tank, water balloon toss, hay jumping and corn kernel pit. Some of the equestrian activities will include horsemanship events & trail obstacle course, the Lomita Sheriff Posse Color Guard, as well as a performance by the Junior Drill Team.
If you want to try your luck in the 27th Annual Poker Ride, you can join for $10 per hand as a card playing carriage driver or horseback rider. Non-riders who wish to participate can purchase tickets and have a riding friend carry them. Players can register for a one-hour ride between 8:00 a.m. to 10:00 p.m. For more information call (310) 377-1577.
Of course during the day there will be many opportunities to enjoy your favorite foods with a variety of mobile food vendors, beer garden and beverage drink areas. On stage will be a Mayor’s Welcome and a variety of acts including a Wild Animal Show, Comedy Juggler Act, and more.
The Music Festival will take place from 1:30 p.m. to 7:30 p.m. and there is a $15 fee. The music lineup will be posted in the next few weeks and will contain a genre of music for all to enjoy. Beer and wine will be available from 12:00 noon to 7:00 p.m. from different local breweries. Tickets can be purchased at the site.
Empty Saddle Club is located at 35 Empty Saddle Road, Rolling Hills Estates. For more information call Andy Clark, community services director, at (310) 377-1577, ext. 109, or go to www.ci.rolling-hills-estates.ca.us.
To read a prior article on the Rolling Hills Estates City Celebration click here.
Photo courtesy of the City of Rolling Hills Estates