Palos Verdes Real Estate Blog

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

There were 25 homes on the January 17, 2012 Palos Verdes real estate Broker’s Tour.  I was not able to see all of them; my favorites are below and today there were several homes with interesting features.  We currently have 191 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 $539,000).  There are 54 Palos Verdes townhomes for sale priced between $187,500 and $2,595,000.  My favorite Palos Verdes homes today were:

George Fotion’s (Call Realty) 1444 Paseo Del Mar, Palos Verdes Estates 90274 (above left) is a 5 bedroom, 4 bath, 4,652 square foot home for $3,100,000.  This gorgeous remodeled lower Lunada Bay home is just steps from the ocean bluff and features a workout room, a pool and a lighted sports court.  Joanne Stasio’s (Prudential California Realty) 3133 Via La Selva, Palos Verdes Estates 90274 (above right) is a 3 bedroom, 4 bath, 2,884 square foot home for $1,635,000.  This custom-built Spanish-style Valmonte home features a private courtyard entry, a gourmet cook’s kitchen, and a wood trellis covered patio w/built-in BBQ area, fire pit, plus a putting green.

Carol Hobaugh’s (RE/MAX Execs) 6550 Verde Ridge Road, Rancho Palos Verdes 90275 (above left) is a 5 bedroom, 4 bath, 3,255 square foot home for $1,100,000.  This beautifully upgraded Los Verdes home features a remodeled gourmet kitchen, and family room and a bonus room, and gated access to Hesse Park from the backyard.  Richard Vickers’ (Prudential California Realty) 1200 Via Gabriel, Palos Verdes Estates 90274 (above right) is a 4 bedroom, 3 bath, 2,039 square foot home for $1,195,000.  This Monte Malaga home was nearly 100% rebuilt foundation to ceiling in 2007 and features cathedral ceilings, Brazilian cherry wood floors and secondary radiant floor heat in all bathrooms!

Photos courtesy of CRMLS

Attention parents of eighth grade students!  Palos Verdes High School and Peninsula High School will be hosting their annual Eighth Grade Open Houses at their respective schools for children of Palos Verdes homes owners (and tenants).  Current eight graders must select their high school of choice by Friday, February 17, 2012.  Students who do not return their enrollment forms by 4:30 p.m on February 17, will be enrolled into a high school by the district based on available space at either school.

Palos Verdes Peninsula High School will be welcoming prospective students and their parents on Wednesday, January 25, 2012, at 5:30 p.m.  This is a chance to learn about the different academic, extracurricular and the athletic programs at Palos Verdes Peninsula High School.  You will also be able to meet students, teachers and other parents and ask your specific questions.  Palos Verdes Peninsula High School is located at 27118 Silver Spur Road, Rolling Hills Estates 90274.  For more information call (310) 377-4888.

Palos Verdes High School will host it’s annual Eighth Grade Open House on Wednesday, February 1, 2012, at 5:00 p.m.  Students can learn about clubs and activities in Senior Park followed by an information session for student athletes in the Multi Purpose Room.  There will be a general session for students and parents in the gym, and then there will be a “Walk Around Campus” to find out about specific programs being offered.  Palos Verdes High School is located at 600 Cloyden Road, Palos Verdes Estates 90274.  For more information call (310)-378-8471.

As part of selling Palos Verdes real estate, I keep updated on area statistics, Palos Verdes homes for sale, new software, etc.  Today, I attended a class which showed us new features of our Multiple Listing Service which included searching for specific data in several different categories.  I looked at distressed properties sales in Palos Verdes to see how it compared to Los Angeles County, the State of California and nationally as reported in a recent LA Times article (click here to view article).  As you can see from the chart above, only .5 – 1% of Palos Verdes homes are in foreclosure.

71 Palos Verdes homes (all categories, including condominiums and townhouses) are in Pre Foreclosure which means a Notice of Default has been filed.  11 of those homes are currently listed for sale and 3 more are in escrow with pending sales.  107 Palos Verdes homes (all categories) are scheduled for Auction which means a Notice of Trustee sale has been filed.  10 of those homes are currently listed for sale and 7 more are in escrow with pending sales.  44 Palos Verdes homes (all categories) are REO properties which means Real Estate Owned (the bank has already foreclosed).  7 of these homes are currently listed for sale and 4 more are in escrow with pending sales.  The middle chart indicates the number of Palos Verdes houses in foreclosure and shows there are 50-100 in zip code 90274 and 100-150 in zip code 90275.

We are very fortunate that the number of Palos Verdes real estate foreclosures is less than both Los Angeles County and the State of California.  That lower rate of foreclosures is one of the reasons our real estate market more stable.

Charts courtesy of CRMLS – Realist Tax

December 2011 statistics for Palos Verdes real estate show a slowdown from November but on track compared to December 2010.  Both pending sales and the number of Palos Verdes homes sold in December 2011 was  less than the prior month.  47 Palos Verdes houses sold/closed escrow in December compared to 50 single family homes sold in November.  December 2011 sales (47) are almost exactly the same as December 2010 (48).  41 Palos Verdes houses had pending sales in December compared to 50 homes in November.  Inventory of active Palos Verdes homes for sale was 172, continuing the seasonal reduction in inventory (216 in October).  It is interesting to note that in December 2010 there were 236 active Palos Verdes homes for sale – this year less choices for buyers and the lowest inventory in recent memory.

In December 2011, average sales price for Palos Verdes homes sold was $1,462,000 compared to $1,116,000 for November.  10 Palos Verdes houses that sold in December were $2,000,000 or higher.  Price per square foot for Palos Verdes houses that sold/closed escrow in December was $449 which increased from $439 in November.  Average days on market in December increased to 97 days from 79 days in November for properties sold that month.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) fell to 3.7 months for December compared to 4.3 months in November putting Palos Verdes real estate below the “normal market” range (a good thing) which is 6 months.   Entire charts can be accessed by clicking here or on the “Statistics” tab above.

Currently, there are 185 single family Palos Verdes homes for sale.  78 Palos Verdes houses are in escrow (35 homes have pending sales and 43 homes are accepting backup offers).  Additionally, 7 homes have sold/closed escrow in the first 11 days of January at an average sales price of $1,179,429.

Chart courtesy of Trendgraphix, Inc.

There were 34 homes on the January 10, 2012 Palos Verdes real estate Broker’s Tour.  I was not able to see all of them but my favorites are below and today it was all about the view.  We currently have 183 single family Palos Verdes homes for sale ranging in price from $600,000 in Rancho Palos Verdes 90275 to $10,500,000 in Palos Verdes Estates 90274 (the low in Eastview is $539,000).  There are 51 Palos Verdes townhomes for sale priced between $187,500 and $2,595,000.  My favorite Palos Verdes homes today were:

Chris Adlam’s (Peninsula Sotheby’s Int’l Realty) 6454 LeBlanc Place, Rancho Palos Verdes 90275 (above left) is a 5 bedroom, 7 bath, 5,551 square foot home for $3,500,000.   This custom built Monaco home features stunning 220 degree panoramic ocean views, a spectacular chef’s kitchen, a handsome library/office and a spa.  Kirby and Haley Larson (RE/MAX Palos Verdes Realty) 32332 Phantom Drive Rancho Palos Verdes 90275 (above right) is a 3 bedroom, 2 bath, 1,922 square foot home for $1,050,000.  This remodeled Ladera Linda “resort living” home features a gourmet kitchen, ocean views from nearly every room, and a hillside viewing deck.

Judy Henry’s (RE/MAX Palos Verdes Realty) 5357 Bayridge Road, Rancho Palos Verdes 90275 (above left) is a 4 bedroom, 2 bath, 1,628 square foot home for $989,000.  This Silver Spur home features breathtaking Queen’s Necklace ocean/coastline views, recently refinished hardwood floors and a usable 1/3 acre lot.  Vicky Longley and Katie Muck’s (RE/MAX Palos Verdes Realty) 26608 Fond Du Lac Road, Rancho Palos Verdes 90275 (above right) is a 4 bedroom, 2 bath, 1,682 square foot home for $945,000.  This Silver Spur home features unobstructed 180 degree city/harbor views and a newer red tile roof, garage door, driveway, windows, appliances and furnace.

Photos courtesy of CRMLS

The City of  Rancho Palos Verdes is offering a Junior Ranger Program for children from 7 to 12 years of age to learn about the Palos Verdes Peninsula.  The program will teach them about our local trails, the wildlife and outdoor preparedness to enable them to have basic trail etiquette, and safety practices here on the Peninsula.

The program will start with an introduction class on Saturday, January 28, 2012 from 10:00 a.m. to 12:00 p.m., at the Ladera Linda Community Center, located at 32201 Forrestal Drive, Rancho Palos Verdes 90275.  They will be able to view the documentary “The Thin Green Line” which will give the children an informational training on the “leave no trace” principles.  The program will have five sessions through June 23rd.  Upon completion of the program the children will be recognized at a graduation ceremony.  This program is free for all participants.

It is recommended one register for the program as soon as possible.  Call the recreation services manager at (310) 544-5264.

Photo courtesy of the City of Rancho Palos Verdes