Palos Verdes Source

Owners and residents of Palos Verdes homes live longer according to a recent Daily Breeze article – their average life span is 82.5 years.   The article goes on to say, “The Los Angeles County Department of Public Health compiled a report that shows a stark disparity between ethnicity, and rich and poor….The report showed that the biggest indicators of a long life are gender, ethnicity and city of residence.”  Click here to read full article.

In the South Bay, Manhattan Beach residents lived the longest (83.2 years) and Inglewood residents had the shortest life span (77 years).  The LA County Public Health Department only looked at Rancho Palos Verdes (may have to do with number of residents in that city) but we can presume the 3 other cities on the Palos Verdes Peninsula would have a similar ranking.  Click here for access to download full report.

We are blessed to be living in such a beautiful and supportive community.  ”Much of what determines our quality of life and how long we live is rooted in the social and cultural fabrics of our communities,” according to the Report.

Photo courtesy of  Arvin Design

There were 22 homes on the August 24, 2010, Palos Verdes real estate Broker’s Tour.  We currently have 275 active single family Palos Verdes homes for sale ranging in price from $719,000 in Rancho Palos Verdes 90275 to $12,800,000 in Rolling Hills 90274 (the low in Eastview is $579,000).  There are 54 townhomes for sale priced between $200,000 and
$949,000.  My favorites were:

Megan Neel’s (Coldwell Banker P.V./South Bay) 4121 Via Largavista, Palos Verdes Estates 90274 (above left) is a 4 bedroom, 5 bath, 3,750 square foot home for $2,295,000.  This brand new Spanish-style custom built Valmonte home has a chef’s dream kitchen, separate office and a finished basement.  Michael and Nadia Foster’s (Remax Palos Verdes Realty) 28203 Ella Road, Rancho Palos Verdes 90275 (above right) is a 3 bedroom, 2 bath, 1,780 square foot home for $969,000.  This Los Verdes home has sweeping Catalina to Malibu Ocean views, gourmet kitchen and sun room.

Daniel Smith’s (Coldwell Banker P.V/South Bay) 32072 Pacifica Drive, Rancho Palos Verdes 90275 (above left) is a 4 bedroom, 5 bath, 4,049 square foot home for $2,499,000.  This stunning contemporary La Cresta home has expansive ocean & Catalina views, lap pool and over-sized master suite.  Linda Cavette’s (Coldwell Banker P.V./South Bay) 30379 Camino Porvenir, Rancho Palos Verdes 90275 (above right) is a 5 bedroom, 3 bath, 4,153 square foot home for $2,225,000.  This Country Club home was redesigned by architect, Gerry Compton, in 2008 and features incredible panoramic ocean/Catalina views, a gorgeous kitchen with whimsical curving ceiling and infinity salt-water pool/spa.

Photos courtesy of MRMLS

Not only were owners of Palos Verdes real estate eagerly awaiting the opening of our first hotel, Terranea, which is a world class resort, but most area residents were curious about the building on the old Marineland site which I chronicled on this blog.  Over a year has passed since the grand opening and I have only had fabulous experiences at Terranea.

As a guest at a Terrenea casitas looking out at the ocean, bays and coves, I could imagine myself in Hawaii, Italy or the south of France – no need to get on an airplane.  As a matter of fact, a friend with 4 preschoolers decided not to get on a plane with the little ones and changed her plans from Hawaii to Terranea.  The accommodations at Terranea were deluxe and the stay relaxing.

I have dined at 4 of the 7 Terranea Restuarants.  Dinners at Mar’sel have been fabulous.  The food is delicious and the view is unbeatable.  I love their beet salad!  Lunches at Catalina Kitchen have also be delicious and I love their chocolate cake and the outdoor seating – it’s all about the views.  I had one lunch at Terranea Grill which was just okay – I am not moved to return.  I have also enjoyed the Sea Bean for salad, sandwiches, gelato and desserts.  I am still waiting for Terranea to offer high tea service in the afternoons.

I have not yet enjoyed the Spa but plan to do so this Fall.  Non-Resort Guests can use the Spa facilities including the pool on Monday – Thursday for a $40 fee.  On weekends non-resort guests can access the Spa area with the purchase of a spa treatment (click here for more info).   I am eyeing their “Recover From Summer Spa Sampler” which includes two treatments (choose from 30 minute facial, 30 minute massage and/or 45 minute spa pedicure) for $150 Monday thru Thursday until October 15, 2010.

I have both given and received Terranea Gift Cards which can be used for food, hotel stays, spa treatments, golf, and merchandise.  It really is the perfect gift.  There are public walking trails along the bluff and down to the beach.  There is also public parking just to the left as you enter the resort property.  During my many visits, it appears that everyone is welcomed at the property.  The staff is very gracious whether you are coming to dine or to walk along the bluff.

Photos courtesy of Terranea Resort and Arvin Design

Palos Verdes residents were treated to a recent visit by the magnificent blue whale spotted off the coast of Rancho Palos Verdes.  According to an article in the Peninsula News, “The 75-foot long blue whale was seen swimming about four miles off the coast of Trump National Golf Club…..There have been about 200 whale sightings since May, according to Capt. Dan Salas of RPV, who leads whale-watching exursions on his high speed catamaran, Christopher. ”  Click here to read the entire story in the Peninsula News.

The blue whale is the largest animal on the planet and is endangered.  It is estimated that 2,000 of the whales exist today.

The Aquarium Of The Pacific offers  Blue Whale and Sea Life Cruises twice daily for a fee.  Click here for more information or call 562-590-3100. 

Photo courtesy of Tom Underhill, Peninsula News

July 2010 statistics for Palos Verdes real estate indicate stability when compared to June of 2010 and July of  last year.  54 single family homes sold/closed escrow in July 2010 compared to 51 last month.  48 Palos Verdes homes had pending sales in July 2010 compared to 60 last month (we will keep an eye on this).  Active homes for sale have been rising steadily during the Spring/Summer selling season; in July 2010 we had 282 active homes for sale compared to 260 in June.

The average price per square foot for July 2010 was $497, up slightly from $489 in June.  Average Days on Market in July 2010 was only 55 days down significantly from 75 days in June.  In July, sales price to original list price was strong at 94%.  The Average Sales Price in July 2010 was $1,332,000 which was up from $1,316,000 in July 2009.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) for July was 5.2 (it was 5.1 in June) which is below 6 months which is considered a “normal” market.  Entire charts can be accessed by clicking here or on the “Statistics” tab above.

Currently there are 281 Palos Verdes homes for sale.  94 homes are in escrow (53 homes have pending sales and 41 homes are accepting backup offers).  Additionally, 15 homes have sold/closed escrow in the first 13 days of August.

There were 25 homes on the August 10, 2010, Palos Verdes real estate Broker’s Tour.  We currently have 280 active single family Palos Verdes homes for sale ranging in price from $719,000 in Rancho Palos Verdes 90275 to $12,800,000 in Rolling Hills 90274 (the low in Eastview is $579,000).  There are 58 townhomes for sale priced between $200,000 and
$949,000.  My favorites were:

Olivia Danihel’s (Re/Max Execs Redondo Beach) 1557 Via Leon, Palos Verdes Estates 90274 (above left) is a 4 bedroom, 5 bath, 4,560 square foot home for $2,385,000.   This fabulous Monte Malaga home features sweeping ocean views, vaulted ceilings and pool/spa.  Ornella Green and Nilou Moalej’s (Coldwell Banker-PV/Beach Cities) 30149 Via Rivera, Rancho Palos Verdes 90275 (above right) is a 4 bedroom, 3 bath, 1,974 square foot home for $1,379,000.  This West Palos Verdes home been remodeled with a dream kitchen, crown molding and has beautiful ocean/Catalina views.

Barbara Rosenberg’s (Coldwell Banker-PV/Beach Cities) 86 Sea Breeze Avenue, Rancho Palos Verdes 90275 (above left) is a 5 bedroom, 5 bath, 3,834 square foot home for $2,300,000.  This gorgeous La Cresta home features a gourmet kitchen, expansive ocean/Catalina views and a sports court.   Pearl Kaperl’s (Remax Palos Verdes Realty) 5003 Golden Arrow Drive, Rancho Palos Verdes 90275 (above right) is a 3 bedroom, 2 bath, 1,800 Square foot home for $890,000.  This beautiful Peninsula Center home is an artist’s delight with hand-painted custom tile work and an upgraded kitchen.

Photos courtesy of MRMLS

Owner and buyers of Palos Verdes real estate have been treated to a year of low mortgages – a wish come true.  According to a recent Los Angeles Times article, “interest rates are the lowest since Freddie Mac, a government-sponsored corporation that purchases home loans from lenders, began tracking the 30-year loan in 1971″  Click here to view the entire article with rate information.

What an incredible opportunity this has been to both refinance and to purchase a new home.  This year, it seems that many Buyers have decided to stop waiting and buy their new home.  Here on the Palos Verdes Peninsula, we have been blessed with a “softer landing” from the financial crisis than many other areas; our market has been pretty stable this year.  We have great schools, great weather, convenient location to downtown LA, the Los Angeles airport and the Westside.  Buyers have taken notice.

The eternal question is ‘How long will these low interest rates last?”

Owners of Palos Verdes real estate have mixed feelings about bees.  Some appreciate the great job the bees do in pollinating our home gardens while others are afraid of bees.  Well, how would you feel about a beehive in your attic?  According to the Peninsula News, one resident, Donna Tarr,  had a hive of 15,000 honeybees in her attic and a decision to make.

According to the Peninsula News, the resident “called Walter of Backyard Bees to relocate the hive for two reasons – because she knew their importance and she didn’t want an exterminator filling her home with poisons and leaving honeycombs, which never spoil, sitting in her attic, possibly attracting mice.”  Also, honeybees have been experiencing challenges in nature and their population has dipped so saving a hive is advantageous to all of us. 

Relocating the hive was a project.   “it took Walter several hours and a trip to Home Depot to extract the colony.  He had to make a hole in the wall to get to the bees, and put tarps up so none of the bees would escape, Tarr said.  He had to take the honeycomb out carefully and meticulously, and then he had frames with screens to put each honeycomb (within) it, she said. “It fit like slots and he easily carried them away.”

Kudos to Donna Tarr for finding a creative, natural way to solve this problem.  I will look at honeybees differently now, acknowledging their contribution (honeybees are directly responsible for one-third of the food we eat according to Walter) and recognizing that according to Walter, honeybees are really gentle animals.  Click here to read entire article.  Click here to see additional photos.

Photo courtesy of Thomas Underhill, Peninsula News

There were 26 homes on the July 27, 2010, Palos Verdes real estate Broker’s Tour.  We currently have 284 active single family Palos Verdes homesfor sale ranging in price from $725,000 in Rancho Palos Verdes 90275 to $12,800,000 in Rolling Hills 90274 (the low in Eastview is $579,000).  There are 56 townhomes/condos for sale priced between $200,000 and $1,060,00.  My favorites were:

Sue Goodale’s (Coldwell Banker PV/Beach Cities) 1349 Via Coronel, Palos Verdes Estates 90274 (above left) is a 6 bedroom, 4 bath, 3,600 square foot home for $2,580,000.   This private Upper Lunada Bay estate features panoramic ocean/coastline views, a new gourmet kitchen, pool and tennis court.  Rick and Kitty Edler’s (Peninsula Sotheby’s Int’l Realty) 612 Via Del Monte, Palos Verdes Estates 90274 (above right) is a 4 bedroom, 2 bath, 2,534 square foot home for $1,399,900).  This Malaga Covehome Queen’s necklace, coastline, whitewater views and a newly updated kitchen.

Wei-Shi Lee’s (Prudential California Realty) 28208 Semount Drive, Rancho Palos Verdes 90275 (above left) is a 4 bedroom, 3 bath, 2,185 square foot home for $1,120,000.  This Cresthome has upgraded remodeled bathrooms and kitchen, family room and master bedroom suite with Catalina view.   Cindy Chew’s (Coldwell Banker PV/Beach Cities) 6 Silver Spring Drive, Rolling Hills Estates 90274 (above right) is a 4 bedroom, 4 bath 2,919 square foot home for $1,099,000.  This Rollingwood/Silver Spur home has a large separate second floor master suite, separate office/home gym off garage and a large 14,320 square foot lot.

Photos courtesy of MRMLS

Academy Hill neighborhood  is located near the intersection of Palos Verdes Drive North and Crenshaw.  184 homes on a 58 acre tract are located in Academy Hill which has an Home Owners Association with voluntary $50/year dues that help pay for a yearly neighborhood party and other events. It has been described as a “tight knit” and “friendly” neighborhood where neighbors work together.

Academy Hill is located an the unincorporated area of Palos Verdes Peninsula 90274 and is actually part of unincorporated Los Angeles County.  This area is home to the prestigious  Chadwick School which is a private school established in 1938 with Kindergarten through 12th Grade classes.  Chadwick actually owned the area that is now home to the Academy Hill neighborhood and sold off the land in the late 1960s.  The homes were built by Presley Homes in the early 1970s.

There are currently two active homes for sale in Academy Hill - A 5 bedroom, 3 bath, 3,104 square foot home for $1,325,000 and a 4 bedroom, 3 bath, 2,542 square foot home for $1,357,000.  There is another home in escrow that was listed for $1,029,000. 5 homes have sold in Academy Hill since the first of the year between $945,000 for 3 bedroom, 2 bath, 2,063 square foot home and $1,415,000 for a 5 bedroom, 4 bath, 3,384 square foot home.