Palos Verdes Source

What are the names of the Bays and Coves in Palos Verdes?  That questions was asked of me a couple of weeks ago.  And as a 30 plus year resident, I could not name them all.  How lucky are we here on the Palos Verdes Peninsula that we have so many that we can’t count or name them all!  Our coastline is truly magnificent!

Matt Waters at Rancho Palos Verdes Parks and Recreation Department did some research for me and came up with the map below taken from Don Gales book, “Wildflowers, weeds…”   I realize it may be challenging to read so I am listing the Coves and Bays starting from RAT (Right At Torrance) beach which is the northern border of the Palos Verdes coastline (and the Points are in parenthesis).

In Palos Verdes Estates there is Malaga Cove, Bluff Cove, (Rocky Point) Lunada Bay (Resort Point) and Christmas Tree Cove (which is shared with Rancho Palos Verdes).  The shoreline begins in Rancho Palos Verdes with Christmas Tree Cove and continues with Golden Cove, (Point Vicente) Fisherman’s Cove (Long Point), Abalone Cove - photo above, (Portuguese Point) Smuggler’s Cove/Sacred Cove (Inspiration Point) and Portuguese Bend Cove (Halfway Point).

Today, there were 26 homes on the Palos Verdes Real Estate Broker’s Tour.  We currently have 275 active single family homes fo sale in Palos Verdes ranging in price from $799,000 in Rancho Palos Verdes ($619,000 in Eastview) to $18,900,000 in Rolling Hills.  There are 55 townhomes for sale priced between $279,900 and $2,000,000.  My favorites today are:

Kitty and Rick Edler’s 209 Rocky Point Road, Palos Verdes Estates, (above left) is a 3 bedroom, 2 1/2 bath, 2,720 square foot home for $3,750,000.  This Lunada Bay bluff home sits at the ocean’s edge overlooking Lunada Bay, has a pool, circular driveway and is on a 14,588 square foot lot.  Dana Graham’s 1616 Via Margarita, Palos Verdes Estates, (above right) is a 5 bedroom, 6 bath, 4,000 square foot home for $2,950,000.  This one-level Monte Malaga Spanish Colonial home has vaulted open beam ceilings, pool/spa/waterfall and is on a 14,630 square foot lot.

Robin DeBraal and Cheryl Rau’s 2568 Via Sanchez, Palos Verdes Estates, (above left) is a 5 bedroom, 4 bath, 3,988 square foot home for $1,825,000.  This Upper Lunada Bay home has panoramic ocean views, a small sound studio and two hillside viewing decks.  Kathy and Rachel Tyndall’s 27811 Hawthorne Boulevard, Rancho Palos Verdes, (above right) is a 4 bedroom, 2 bath, 1,816 square foot home for $888,000.  This Silver Spur home has been upgraded, has a well landscaped yard with mature fruit trees and is on an access road (not directly on Hawthorne).

Lucia Fan’s 26563 Hawkhurst Drive, Rancho Palos Verdes, (above left) is a 4 bedroom, 2 3/4 bath, 2,784 square foot home for $1,450,000.  This Peninsula Center home may have seller financing, could be a 5 bedroom, has central air and Anderson windows.

 Some photos courtesy of MRMLS

Recently, I answered a question on Trulia Voices regarding property taxes for Palos Verdes real estate and thought it was worth a mention here also.  When a property is purchased, it is reassessed by the Los Angels County Tax Assessor using the sales price as the base.  The new property tax will be 1% of the purchase price plus any local bonds and assessments (usually averages another .0025 of the sales price).

On the Palos Verdes Peninsula (which includes Rancho Palos Verdes, Palos Verdes Estates, Rolling Hills and Rolling Hills Estates), we have an additional Palos Verdes Unified School District assessment of approximately $209 per year. 

Homeowners in the city of Palos Verdes Estates pay an additional Fire/Police assessment of approximately $261 per parcel plus $.15 per square foot of structure (a total of $648 for a 2,600 square foot house).

The city of Rancho Palos Verdes has a new storm drain user fee until 2016.  Homeowners in Rancho Palos Verdes pay an additional fee based on a “unique calculation” - size of lot, impervious coverage (hard-scape), etc. which averages $105 (but can be a little as $25 for a condo to several hundred dollars for larger parcels).

The city of Rolling Hills has an additional Community Association assessment which is $.20 per $100 of assessed value and is billed twice a year directly from the Rolling Hills Community Association (as opposed to appearing on your LA County Property Tax bill).

Today, there were 19 homes on the Palos Verdes Real Estate Broker’s Tour.  We currently have 276 active single family homes for sale in Palos Verdes ranging in price from $825,000 in Rancho Palos Verdes ($619,000 in Eastview) to $23,000,000 in Rolling Hills.  There are 56 townhome for sale priced between $279,900 and $2,000,000.  My favorites today are:

Gary Myer’s 505 Via Almar, Palos Verdes Estates, (above left) is a 4 bedroom, 2 3/4 bath, 2,538 square foot home for $1,795,000.  This Malaga Cove home has fantastic coastline/ocean views, a remodeled kitchen and is within walking distance to the bluffs/beach.  Gary Fortune and Larry Herman’s 27610 Eastvale, Rancho Palos Verdes, (above right) is a 5 bedroom, 4 bath, 4,049 square foot home for $2,199,000.  This unique Westfield home has a gourmet entertainer’s kitchen and a 850 square foot guest house on a 28,890 square foot equestrian lot.

Steve & Ceci Watts’ 9 Pinto Lane, Rolling Hills Estates, (above left) is a 4 bedroom, 3 bath, 2,795 square foot home for $1,649,000.  This beautiful Rolling Ranchos Cape Cod style home has a sunroom, pool, and barn and paddock area.

Photos courtesy of MRMLS

Statistics for the month of August for Palos Verdes Real Estate are now available.  There were 29 closed escrows, 26 pending sales in August and 51 closed escrows and 26 pending sales in July.  The number of closed escrows are down compared to the last 5 months.

Average price for homes that closed escrow in August was nearly the same at $1,480,000 compared to July at $1,496,000.  Average days on market for properties that closed escrow in August rose to 89 days from 52 days in July.  Sold prices compared to list prices was 96% which was slightly increased from 95% in July.  The most significant increase was 9.3 Months of Inventory (how many months it would take to sell existing inventory at the current rate of sale) for August; July had dipped down to 5.4 months.  Entire charts can be accessed by clicking here or on the “Statistics” tab above.

Currently, there are 285 single family homes for sale on the Palos Verdes Peninsula.  Additionally, 28 homes have pending sales, 24 homes are in escrow accepting backup offers and 11 homes have sold/closed escrow in the first 12 days of September.

The Los Angeles Business Journal article, ”Median Home Prices Persist in Steady Decline” on September 8, 2008, indicates that Palos Verdes Estates (zip code 90274) showed a 9%  increase in median price for August 2008 compared to August 2007.  Rancho Palos Verdes (zip code 90275) showed a 2%  increase in median price for August 2008 compared to August 2007. 

Palos Verdes Peninsula School District students had an average API (Academic Performance Index) score of 904 which is 5 points higher than last year.   Scores range from 200 to 1000.  Cornerstone Elementary School scored 977 which was the highest mark of any school in Los Angeles County (and 12 points higher than last year). 

Peninsula High School scored an 879 (8 points higher than last year).   Palos Verdes High School scored 853 (3 points higher).  Intermediate Schools scores were 947 for Palos Verdes, 899 for Miraleste and 936 for Ridgecrest (gains of 19, 15 and 7 points respectively).   Scores for the elementary schools are currently reported in the PV News (click here for link).

Today, there were 15 homes on the Palos Verdes Real Estate Broker’s Tour including several interesting and unusual properties.   We currently have 261 active single family homes for sale in Palos Verdes ranging in price from $875,000 in Rancho Palos Verdes ($579,000 in Eastview) to $23,000,000 in Rolling Hills.  There are 48 townhomes for sale priced between $372,000 and $2,000,000.   My favorites today are:

Rick Edler’s 317 Rocky Point Road, Palos Verdes Estates, (above left) is a 4 bedroom, 3 bath, 2,945 square foot home for $3,999,999.  This Lunada Bay home is a rare bluff property,  has unobstructed ocean views and a remodeled kitchen.  Cheryle Ushkow’s 12 Hillcrest Manor, Rolling Hills Estates, (above right) is a 5 bedroom, 5 bath, 4,647 square foot home for $2,400,000.  This Hillcrest Manor home has a pool w/pool house, an office/library and cathedral ceilings with floor to ceiling windows.

David Dashiell’s 2508-2512 Via Campesina, Palos Verdes Estates, (above left) are 3 townhomes each with 3 bedrooms and 3.5 baths 2,850-3,050 square feet for $1,975,000 to $2,000,000.  These new Malaga Cove townhomes have private elevators, vaulted coved ceilings and are within walking distance of Malaga Cove shopping center.   Patricia Arturo’s 27966 Beechgate Drive, Rancho Palos Verdes, (above right) is a 3 bedroom, 3 bath, 1,896 square foot home for $1,075,000.  This Peninsula Center home has a city light view, updated kitchen and is within walking distance to the shops on Silver Spur.

Photos courtesy of MRMLS

Here is another great spot which was submitted by Mary McPherson.  This is the Ocean Estates Trail in Rancho Palos Verdes.  This is an easy walk along the bluff of our beautiful Palos Verdes coast looking out at the ocean and several coves.   It is quiet and peaceful.  There are benches to sit and take it all in. 

The Trail is located on the ocean side of Oceanfront Estates.   At the end of Hawthorne Boulevard, cross Palos Verdes Drive West and the street turns into Via Vicente.  Bear right onto Calle Entradero.  There are parking areas on the street.  You can also stop at Golden Cove Center (just across Hawthorne Boulevard) and pick up lunch or a snack for your walk. 

This is the first in a series of special places on the Palos Verdes Peninsula which many owners of Palos Verdes real estate are not aware of.  You might say these are ”secret” places.   The Gazebo at Roessler Pointis located in Palos Verdes Estates.   The entrance is at the northwest end of the parking lot for Malaga Cove School (Paseo Del Mar and Via Arroyo).

The Gazebo ia a great spot for contemplation and the view is spectacular.  It is very quiet and you are usually the only one there.  You can see the coastline Queen’s Necklace view all the way around to Malibu.  The sunsets are also fabulous.  If you want to walk down on the beach, the path is just to the right.

The Lunada Bay neighborhood is located in Palos Verdes Estates.   My favorite things about this neighborhood are the ocean views and the coastline bluff trails for walking.  My son would say it was when the last Pirates of the Caribbean movie was being filmed (photo above) two summers ago and the cliffs were lined with people (including us) with binoculars watching.

The Lunada Bay area is .7 square miles and has approximately 2,778 residents.  This area is also home to 3 schools (Lunada Bay Elementary, Palos Verdes Intermediate and Palos Verdes High School) and is a favorite area for families.  Lunada Bay has its own fountain (photo below)  and shopping area (Palos Verdes Drive West and Yarmouth) with a market, restaurants, gas station, banks and other shops.  Some Lower Lunada Bay homes (on the ocean side of Palos Drive West) have ocean views; this area is fairly flat which is perfect for biking and walking.  As Upper Lunada Bay homes are located higher on our hill, many have panoramic ocean views.

Nearly eighty seven percent of the housing in Lunada Bay is single family homes.  There are also apartments and townhomes.  There are currently 26 single family homes ranging in price from $1,079,000 (1572 sq ft) to $3,295,000 (3859 sq ft).  Currenty, there are no active townhomes for sale.  There are 2 townhomes in escrow with a list price of $599,000 (1142 sq ft) and $629,000 (1184 sq ft).