Palos Verdes Real Estate Blog

There were 23 homes on the January 31, 2012, Palos Verdes real estate Broker’s Tour.  We currently have 192 single family Palos Verdes homes for sale ranging in price from $759,000 in Rancho Palos Verdes 90275 to $10,500,000 in Palos Verdes Estates 90274 (the low in Eastview is $497,000).  There are 53 Palos Verdes townhomes for sale priced between $171,000 and $2,595,000.  My favorite Palos Verdes homes today were:

Georgiana Rosenkranz and Barry Host’s (South Bay Broker’s, Inc.) 2204 Via Acalones, Palos Verdes Estates 90274 (above left) is a 4 bedroom, 4 bath, 3,039 square foot home for $2,375,000.   This custom Monte Malaga home was rebuilt in 2001 and features lovely ocean views, a spacious gourmet kitchen, a large master retreat w/ vaulted ceilings and a sparkling saline pool & spa.  Michael and Nadia Foster’s (RE/MAX Palos Verdes Realty) 4166 Rousseau Lane, Palos Verdes Peninsula 90274 (above right) is a 5 bedroom, 4 bath, 3,515 square foot home for $1,568,000.  This bright spacious Academy Hill home features city views, a gourmet kitchen, great room w/vaulted ceilings & skylights, and solar heated pool – all on a 1 acre lot.

Betty Coull, Heidi Agid-Mackenbach and Frank Fountain’s (RE/MAX Palos Verdes Realty) 41 Santa Barbara Drive, Rancho Palos Verdes 90274 (above left) is a 5 bedroom, 5 bath, 3,732 square foot home for $2,298,000.  This exquisite traditional Island View home features a gourmet kitchen, elegant master suite, and a pool/spa.  Tim Foley’s (Prudential California Realty) 66 Eastfield Drive, Rolling Hills 90274 (above right) is a 5 bedroom, 7 bath, 5,734 square foot home for $4,595,000.  This completely remodeled Rolling Hills home features panoramic views, a gourmet kitchen w/2 islands, a master retreat w/views and private park-like yards.

Photos courtesy of CRMLS

I am happy to report that appraisals are coming in at sales price for Palos Verdes homes that I have sold this past year.  After the new Fannie Mae appraisal changes, we were all experiencing appraisers from out of the area being assigned to Palos Verdes real estate appraisals and they were coming in low as they did not know the area.   This was true for both Palos Verdes homes sales and refinances.

Yesterday, a LA Times article regarding appraisal fee disclosure discussed the issue of who is actually getting paid for these new higher priced appraisals and where the appraisers are coming from.  Why would you care about that?  Because, the appraisers are sometimes getting paid only half the fee (and to find appraisers who will work for that lower fee, they were coming from out of the area)  “…while the balance flows to an enterprise you have never heard of — an appraisal management company — that assigns the job to the appraiser.  That management company, in turn, may be a wholly owned by or in a joint venture or affiliate relationship with your lender, which may be pocketing a significant portion of your appraisal dollars.”  Click here to read entire article.

Now the Consumer Financial Protection Bureau may require the appraisal fee be broken down to indicate how much is actually going to the appraiser and how much the appraisal management company is taking.  A decision should be made before summer.

On Saturday, February 4, 2012, the Peninsula Seniors will sponsor Coffee & Cars at the Peninsula Shopping Center (off Silver Spur Road and Hawthorne Boulevard in Rolling Hills Estates).  A group of car enthusiasts will bring their Hot Rod, Custom, Muscle Car, Sports Car, Antique, and other special interest vehicles, to the Peninsula Shopping Center parking lot where you can admire the cars, meet the owners and ask them questions.

This free event gives Palos Verdes homes owners an opportunity to meet and socialize with Peninsula Seniors members, their guests, and other South Bay area car lovers.  If you are not over 55 and would like to bring your favorite car to show, you can get an honorary car or a “senior-in-training” badge to cover you for the event.

Coffee & Cars is held the first Saturday of every month in the parking area near Starbucks and Rite Aid in the Peninsula Shopping Center. Each month, a different type of car is features and for the month of February, Italian Cars will be shown.  For a fun morning activity put on your comfortable shoes and enjoy the outdoors with other car buffs.

For more information contact Peninsula Seniors at (310) 377-3003.

Photo courtesy of Arvin Design

Sales for Palos Verdes real estate single family homes in the first 26 days of January have decreased compared to sales to date for this time last month (37).  20 Palos Verdes houses have been reported as sold to date since January 1, 2012.  (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 for January to date is $1,596,809 which is up from last month’s average of $1,462,000.

In January 2012 to date, the highest priced Palos Verdes home sold for $7,000,000 in the city of Rolling Hills; it was a fantastic, gated equestrian estate with a 1o,000 square foot home with 5 bedrooms and 7 baths with unobstructed, panoramic ocean, coastline and city views, a home theater with 120″ screen with stadium seating (& it’s own kitchen), elevator, work-out room, a separate guest house, pool/spa, and barn, all on a 4.4 acre landscaped lot.  The lowest priced Palos Verdes home sold to date in January for $655,000 and is located in the Palos Verdes Drive North neighborhood of Rolling Hills Estates; this home has 1,472 square feet, 3 bedrooms and 2 baths on a 18,950 square foot lot and was a short sale.

We currently have 195 active single family Palos Verdes homes for sale priced between $759,000 in Rancho Palos Verdes and $10,500,000 also in Palos Verdes Estates (the low in Eastview is $497,000).  To view Palos Verdes real estate statistics from October 2010 through December  2011, click here or on the “Statistics” tab above.

It is time again for owners of  Palos Verdes homes (and/or tenants) who will have children entering Kindergarten in the Fall of 2012 to be planning for Kindergarten Roundup (Registration).   This is an important event if you have Kindergarten age children because some Palos Verdes elementary schools are impacted.  California Law (SB 1381) relating to the age requirement for Kindergarten enrollment was changed.  The new law requires a child be five years old on or before November 1st.  The cutoff date under the old law was December 2nd.  All interested parents are encouraged to attend one of the scheduled Kindergarten Orientation meetings and learn more about this change, the application process and the application deadline. The meetings will be held on:

.  Monday, February 6th (7:00 p.m.) – Vista Grande Elementary School, 7032 Purpleridge Drive,   Rancho Palos Verdes, (310) 377-6066.

.  Tuesday, February 7th (7:00 p.m.) – Dapplegray Elementary School, 3022 Palos Verdes Drive North, Rolling Hills Estates, (310) 541-3706.

Photo courtesy of PVPUSD

There were 31 homes on the January 24, 2012, Palos Verdes real estate Broker’s Tour.  I was able to see 13 homes today in the allotted two hours.  More than half the homes on tour today were new listings; we are happy to see our inventory increasing.  We currently have 204 single family Palos Verdes homes for sale ranging in price from $725,000 in Rolling Hills Estates 90274 to $10,500,000 in Palos Verdes Estates 90274 (the low in Eastview is $597,400).  There are 51 Palos Verdes townhomes for sale priced between $171,000 and $2,595,000.  My favorite Palos Verdes homes today were:

Rick and Kitty Edler’s (Peninsula Sotheby’s Int’l Realty) 2240 Via La Brea, Palos Verdes Estates 90274 (above left) is a 5 bedroom, 7 bath, 5,084 square foot home for $3,299,000. This Monte Malaga masterpiece features panoramic Queen’s Necklace ocean/coastline views, a gourmet kitchen, a luxurious master suite and a pool/spa. Kathy Trutanich’s (RE/MAX Palos Verdes Realty) 3 Pleasant Hill Drive, Rolling Hills Estates 90274 (above right) is a 5 bedroom, 3 bath, 2,430 square foot home for $1,299,000.  This sprawling one-level remodeled Palos Verdes Drive North home features a beautiful kitchen, a home theater, central air conditioning and is zoned for horses.

Cindy Chew’s (Coldwell Banker-PV/Beach Cities) 32 Strawberry Lane, Rolling Hills Estates 90274 (above left) is a 3 bedroom, 3 bath, 3,246 square foot home for $1,950,000.  This fabulous Palos Verdes Drive North equestrian estate features a 20×50 meter dressage riding ring, steel barn, solar heated pool and cabana on a 50,090 square foot lot.  David Clayton’s (RE/MAX Execs South Bay) 27514 Fawnskin, Rancho Palos Verdes 90275 (above right) is a 4 bedroom, 2 bath, 1,701 square foot home for $799,000.  This immaculate Peninsula Center home features an upgraded kitchen, an oversized two-car finished garage,  and a beautiful pool and yard area.

Photos courtesy of CRMLS

Spring selling season for Palos Verdes real estate will be here before you know it and now is the time to get your house prepared.  Below is an article with some great suggestions:

7 Tips For Staging Your Home

by: G. M. Filisko, published: March 19, 2010

Make your home warm and inviting to boost your home’s value and speed up the sale process.

1. Start with a clean slate
Before you can worry about where to place furniture and which wall hanging should go where, each room in your home must be spotless. Do a thorough cleaning right down to the nitpicky details like wiping down light switch covers. Deep clean and deodorize carpets and window coverings.

2. Stow away your clutter
It’s harder for buyers to picture themselves in your home when they’re looking at your family photos, collectibles, and knickknacks. Pack up all your personal decorations. However, don’t make spaces like mantles and coffee and end tables barren. Leave three items of varying heights on each surface, suggests Barb Schwarz of www.StagedHomes.com in Concord, Pa. For example, place a lamp, a small plant, and a book on an end table.

3. Scale back on your furniture
When a room is packed with furniture, it looks smaller, which will make buyers think your home is less valuable than it is. Make sure buyers appreciate the size of each room by removing one or two pieces of furniture. If you have an eat-in dining area, using a small table and chair set makes the area seem bigger.

4. Rethink your furniture placement
Highlight the flow of your rooms by arranging the furniture to guide buyers from one room to another. In each room, create a focal point on the farthest wall from the doorway and arrange the other pieces of furniture in a triangle around the focal point, advises Schwarz. In the bedroom, the bed should be the focal point. In the living room, it may be the fireplace, and your couch and sofa can form the triangle in front of it.

5. Add color to brighten your rooms
Brush on a fresh coat of warm, neutral-color paint in each room. Ask your real estate agent for help choosing the right shade. Then accessorize. Adding a vibrant afghan, throw, or accent pillows for the couch will jazz up a muted living room, as will a healthy plant or a bright vase on your mantle. High-wattage bulbs in your light fixtures will also brighten up rooms and basements.

6. Set the scene
Lay logs in the fireplace, and set your dining room table with dishes and a centerpiece of fresh fruit or flowers. Create other vignettes throughout the home—such as a chess game in progress—to help buyers envision living there. Replace heavy curtains with sheer ones that let in more light.

Make your bathrooms feel luxurious by adding a new shower curtain, towels, and fancy guest soaps (after you put all your personal toiletry items are out of sight). Judiciously add subtle potpourri, scented candles, or boil water with a bit of vanilla mixed in. If you have pets, clean bedding frequently and spray an odor remover before each showing.

7. Make the entrance grand
Mow your lawn and trim your hedges, and turn on the sprinklers for 30 minutes before showings to make your lawn sparkle. If flowers or plants don’t surround your home’s entrance, add a pot of bright flowers. Top it all off by buying a new doormat and adding a seasonal wreath to your front door.

G.M. Filisko is an attorney and award-winning writer who occasionally rearranges her furniture to find the best placement—and keep her dog on his toes. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

Visit HouseLogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®.

In a prior article, “How Did 2011 Palos Verdes Homes Sales Compare?”, I gave preliminary statistics for the entire Palos Verdes Peninsula.  Now we will look at those final numbers as well as the individual neighborhoods.  The chart above can be enlarged by clicking on it or go to the “Statistics” tab above and scroll to bottom.

561 single family Palos Verdes homes sold in 2011 compared to 530 homes sold in 2010 – a 6% increase.  Average sales price for single family Palos Verdes houses sold in 2011 increased slightly from 2010 – $1,358,845 in 2011 compared to $1,350,120 in 2010 – a .6% increase.  Average square foot price for Palos Verdes houses sold in 2011 was $476 compared to $488 in 2010 – a 2.4% decrease.  Some areas of the country do not use square foot prices as they are not always a reliable number as smaller homes sell for more per square foot, there is not additional valuation for extra land and the house may actually be larger/smaller than the square footage shown.

The city of Rolling Hills posted the largest gain in average sales price – $3,112,778 for 2011 compared to $2,036, 336 in 2010.  The Monte Malaga, Malaga Cove, Palos Verdes Drive North, Palos Verdes Drive East, Mira Catalina and Palos Verdes Drive South neighborhoods also showed small gains in average sales price.   The Silver Spur neighborhood posted the largest decrease in average sales price – $837,146 for 2011 compared to $956,856 in 2010.

Mira Catalina posted the largest gain in average square foot price for Palos Verdes homes sold – a 12% increase from $401 in 2011 compared to $448 in 2010.  Rolling Hills, Palos Verdes Drive South, and Peninsula Center also showed gains in square footage price.  Silver Spur showed the largest decrease in square foot price (12.2%) from $493 in 2011 compared to $433 in 2010.

Lunada Bay/Margate posted the largest number of Palos Verdes homes sold in 2011 – 70 houses (62 houses in 2010).  Palos Verdes Drive East posted the biggest gain in home sales – 58 in 2011 compared to 36 in 2010.  Malaga Cove, Palos Verdes Drive South, West Palos Verdes, Country Club, Silver Spur and Eastview RPV also had an increase in number of homes sold in 2011 compared to 2010.

2011 information on median price for Palos Verdes homes sold as well as total valuation of Palos Verdes real estate and highest/lowest home sales can be obtained by clicking here or going to my prior post, “How Did 2011 Palos Verdes Homes Sales Compare?”.

The Palos Verdes Library District is giving Palos Verdes homes owners the opportunity to return overdue library books on Fridays during the month of January, 2012, with a waiver of fees.  This “get out of jail free” card will be available only this month and can be utilized by visiting a library service desk at any of the three Palos Verdes libraries.  This extends to overdue and expired hold fees, with a maximum of $50 per library card.

There are certain fees that are excluded.  They are video/audio rental fees and replacement fees for lost items. The amnesty program includes all books returned in person,  but does not include phone privileges.

The library wants to give its patrons a fresh start this year and feels that the most efficient way is to encourage those with overdue fines to come back to the library.  For more information call (310) 377-9584, ext 602.

Photo courtesy of the Palos Verdes Residents Handbook

Did you start the New Year promising to be more organized and de-clutter this year?  Well here is the perfect opportunity to get rid of all those old electronic devices you don’t use and start de-cluttering your home or office.  Palos Verdes homes owners have the opportunity to recycle their old TV’s, computers, phones and other electrical devices and help the Palos Verdes public schools at the same time.  Waste Management is offering this one time opportunity to unload your E-waste items and 100% of the proceeds will be given to the Peninsula Education Foundation.  This is a win-win for everyone.

Volunteers will be on hand at 3 drive through locations to help you recycle your E-waste items.  On Friday, January 20, 2012, from 1:00 p.m. – 5:00 p.m., and on Saturday, January 21, 2012, from 9:00 a.m. – 4:00p.m., you can drop off at Palos Verdes High School located at 600 Cloyden Road, Palos Verdes Estates, or Palos Verdes Peninsula High School located at 27118 Silver Spur Road, Rolling Hills Estates.  Miraleste Intermediate School will be accepting donations on Saturday only at 29323 Palos Verdes Drive East, Rancho Palos Verdes from 9:00 a.m. – 4:00 p.m.

They will accept old VCR’s, fax machines, TV’s, computers & monitors, printers, print cartridges, cell phones, video games, iPods, MP3 players, DVD players, gps devices, PDA’s, laptops DVD’s & players, scanners, digital cameras, copiers and power supplies.  For more information contact (310) 378-2278.

Photo courtesy of  Peninsula Education Foundation