Palos Verdes Source

Palos Verdes Estates was originally designed to be a gated city and a gatehouse was built to guard its northern entrance.  It is located on Via Valmonte at the Torrance border.  It was called the Mirlo Gate Lodge Tower.

A stone plaque on the site states, “The ‘Stone Tower’ was built by the Palos Verdes Homes Association in 1926 from the plans of the architect Clarence E. Howard submitted in Nov. 1925.  Intended for a gated entrance located on parkland, it was deeded to Palos Verdes Estates in 1939 and has been occupied by various tenants to maintain and preserve the tower.”

Yes, that’s right.  It is “tenant occupied”.  It does not come up for rent very often.  According to the City, the current tenant has been there for twenty years.  It looks very small – maybe 300 square feet – and so very quaint.

Nature reminds us how simple and clear our lives can be.

Photo courtesy of Arvin Design

May 2010 statistics for Palos Verdes real estate again indicate stability in our market.  57 single family homes sold/closed escrow in May compared to 47 in April and 25 in May of last year.  63 Palos Verdes homes had pending sales for May which is 10 more than April and almost twice as many as May of last year.  Active homes for sale for in May is up slightly to 238 (226 in April). 

All the statistics moved positively in May.  The average sales price in May 2010 was $1,422,000 up from $1,311,000 in April.  Average days on market in May fell to 80 days from 92 days in April.  Average price per square foot rose to $500 in May from $490 in April.  And a very important indicator – Months of Inventory (months it would take to sell existing inventory at the current rate of sale) for May was 4.2 months which was down slightly from April’s number of 4.8.   6 months inventory  is the benchmark for a “normal” market and our numbers have been lower for the past year.  Entire charts can e accessed by clicking here or on the “Statistics” tab above.

Currently, there are 250 Palos Verdes homes for sale.  118 homes are in escrow (63 homes have pending sales and 55 homes are accepting backup offers).  For the last 4 months, nearly one third of homes for sale in Palos Verdes are in escrow! Additionally, 12 homes have sold/closed escrow in the first 12 days of June.

There were 25 homes on the June 8, 2010 Palos Verdes real estate Broker’s Tour.  We currently have 253 active single family Palos Verdes homes for sale ranging in price from $659,000 in Rancho Palos Verdes 90275 to $14,500,000 in Rolling Hills 90274 (the low in Eastview is $579,000).  There are 55 townhomes/condos for sale priced between $200,000 and $1,050,000.  My favorites were:

Pearl Kaperl’s (Remax Palos Verdes Realty) 4103 Roessler Court, Palos Verdes Peninsula 90274 (above left) is a 4 bedroom, 3 bath, 2,542 square foot home for $1,365,000.  This gorgeous Academy Hill home has city/mountain views, a new master bathroom and huge pool & lush gardens. George Wong’s (Keller Williams P.V. Realty) 1609 Via Margarita, Palos Verdes Estates 90274 (above right) is a 4 bedroom, 3 bath, 2,310 square foot home for $1,325,000.  This wonderful Monte Malaga home has a remodeled kitchen, master bath & powder room, newer wood floors and a separate family room.

Yvonne Feng’s (Remax Palos Verdes Realty) 7050 Via Del Mar, Rancho Palos Verdes 90275 (above left) is a 4 bedroom, 4 bath, 2,906  square foot home for $1,348,000.  This West Palos Verdes home has a fabulous gourmet kitchen, two master suites and panoramic ocean views.  Catarina and Y. Anthony Iwata’s (Rockyfield) 28122 Golden Meadow Drive, Rancho Palos Verdes 90275 (above right) is a 3 bedroom, 2 bath, 1,573 square foot home for $929,000.  This Los Verdes home has beautiful gardens, family room and an outdoor spa.

Photos courtesy of MRMLS

The 23rd Annual Palos Verdes Street Fair and Music Festival will take place Saturday, June 12 (10:00 a.m. to 10:00 p.m.) and Sunday, June 13 (10:00 a.m. to 9:00 p.m.).   Teen Fun Night will be held Friday evening, June 11 from 5:00 p.m. to 10:00 p.m. with the opening of the carnival rides.

The Palos Verdes Street Fair will feature 2 days of events ands live music, approximately 200 Quality Arts and Crafts Booths (click here for a list of vendors), continuous live entertainment, a free children’s petting zoo and pony rides, an International Food Court, Green Street – a showcase of environmental friendly products and energy conservation education, Rides and Attractions for adults and children, a “Top Dog” dog show and more.   Every year, I find something new at the Fair.   It promises to be a good time for all. 

The Palos Verdes Street Fair attracts about 30,000 fair goers.  The Fair is located on Crossfield Drive in Rolling Hills Estates between The Promenade on the Peninsula and Peninsula Center Shopping Center.  There is free parking at the Promenade parking structure (enter on Indian Peak Road) and at Peninsula High School.  (Click here for a map and parking information)  I suggest arriving at the Fair between 10:00 and 11:00 because the parking is easier and it’s a bit cooler before the mid-day sun.

Photo courtesy of pvstreetfair.com

I am excited to share my new lease listing with you – Palos Verdes real esatate at it’s finest. This is an amazing opportunity to live in a Cape Cod home that has been completely renovated and all new retaining its original charm. It is located in the highly desired Valmonte area of Palos Verdes Estates. This home just underwent additions and extensive remodel.  The beautiful Kitchen has large island, quartz counters, stainless steel appliances and skylight.  The Kitchen opens to a Great Room which opens to large brick patio and fruit orchard (lemons, oranges, tangerines, key lime, pineapple guava and apple) in the backyard. 

The Living Room with fireplace also opens to Great Room.  This home also has a Formal Dining Room and separate laundry room with stacking washer/dryer. The gorgeous Master Bedroom has soaring ceilings, a huge walk-in closet with skylight, and balcony overlooking the backyard.  The Master bath also has a skylight. The two-car tandem garage has a finished interior. You can walk down the street to Valmonte School and the Little League Field.  The lease price is $4,000 per month.

Here is a reprint of an article that appeared this week in The Peninsula News:

Elaine Murphy Carlson, Agent of the Week, Palos Verdes

There were 23 homes on the May 25, 2010, Palos Verdes real estate Broker’s Tour.  We currently have 243 active single family Palos Verdes homes for ranging in price from $659,000 in Rancho PalosVerdes 90275 to $14,500,000 in Rolling Hills 90274 (the low in Eastview is $548,000).  There are 57 townhomes for sale priced between $205,900 and $1,050,000.  My favorites were:

Chirs Adlam’s (Peninsula Sotheby’s International Realty) 3282 Via Campesina, Rancho Palos Verdes 90275 (above left) is a 5 bedroom, 6 bath, 4,500 square foot home for $2,799,000.  This Malaga Cove Cliff May inspired home features huge rooms with soaring ceilings & walls of glass and panoramic ocean/coastline views.   Eva Lawrence’s (Re/Max Execs Redondo) 102 Spindrift Drive, Rancho Palos Verdes 90275 (above right) is a 3 bedroom 2 bath 1,855 square foot home for $1,795,000.  This Portuguese Bend Beach Club home is steps away from a private beach and features sunny rooms with 8 skylights and a separate family room.

Tuba Ghannadi’s (Remax Palos Verdes Realty) 29716 Whitley Collins Drive, Rancho Palos Verdes 90275 (above left) is a 4 bedroom, 2 bath,2,044 square foot home for $998,800.  This Mesa Palos Verdes home has a remodeled kitchen, large family room, pool and spa.  Robert Walters’ (Leland Properties) 1617 Via Lazo, Palos Verdes Estates 90274(above right) isa 4 bedroom, 2 bath, 2,006 square foot home for $1,099,900.  This well-priced Malaga Cove starter home has panoramic ocean and Queen’s Necklace views from nearly every room and will sell quickly.

Photos courtesy of MRMLS

Palos Verdes real estate includes not only Palos Verdes homes for sale but also Palos Verdes homes for lease.  Currently we have 51 single family homes for lease between $2,750/mo. for a 3 bedroom, 2 bath 1,782 square foot home in the Eastview section of Rancho Palos Verdes 90275 to $30,000/mo. for a 7 bedroom, 11 bath, 6,900 square foot house in the Montemalaga section of Palos Verdes Estates 90274 (which includes a tennis court, swimming pool and two bowling lanes).

Palos Verdes leases also include 26 townhomes/condos  priced between $1,200 for a studio with bath, 431 square feet in the Country Club area of Rancho Palos Verdes 90275 and $3,300 for a 3 bedroom, 3 bath, 2,184 square foot townhome in the Crest area of Rolling Hills Estates 90274.

Palos Verdes leased properties have been a very active category.  117 single family Palos Verdes homes have leased since the first of the year and 63 townhomes/condos have leased since January 1, 2010.

Photo above is George Fotion’s (Call Realty) 24 Nuvola Court, Rancho Palos Verdes 90275 which is a 5 bedroom, 5 bath, 4,244 square foot home for $6,800/mo.

Photo courtesy of MRMLS

Last week, the Palos Verdes Peninsula Unified School District posted their proposed school calendar for 2010-2011 (click here to view).  It’s about time!  As a parent, it is difficult to plan vacations, appointments, etc. without knowing when our children will be in or out of school.  On this proposed schedule, school will start Tuesday, August 31, 2010 (the week before Labor Day) and the school year will be shortened by 4 or 5 days due to a budget shortfall.  New to the school calendar is a week’s vacation beginning February 21st.

Palos Verdes homes owners will be pleased to know that Palos Verdes schools have received a grant for Language Instruction, according to a recent PVPUSD publication.   The school district will receive $300,000 a year for the next five years “to promote the instruction of Mandarin Chinese.”  Currently all students at Lunada Bay and Point Vicente Elementary Schools have Chinese language instruction that starts at Kindergarten and Monte Malaga and Cornerstone Elementary Schools will be added in the future.  Currently our two high schools and Palos Verdes Intermediate offer Chinese language instruction as an elective and those courses will be expanded to include the other two intermediate schools.  Our great schools contribute to our children’s development and to our strong Palos Verdes home values!