Have you noticed that there are more visitors in Palos Verdes? Palos Verdes Peninsula was featured in the July/August edition of Westways magazine in the Day Trip section. After commenting on Palos Verdes real estate, the article goes on to recommend two spots to hike. Trump National Golf Club is mentioned for its bluff top trails and public coastal access down to the beach. Point Vicente...
"The typical monthly mortgage payment for Southern California buyers last month was $1,193, up from $1,052 in May. Adjusted for inflation, current payments are 46% below typical payments in the spring of 1989, the peak of the prior real estate cycle" states the Los Angeles Times on July 16th. I checked and in 1989, the average interest for a 30-year fixed mortgage was 10.32%. That is twice as much...
I have just earned the prestigious Certified Distressed Property Expert designation having completed extensive training in foreclosure avoidance and short sales. Although we have not experienced many of these sales in Palos Verdes real estate, more are expected in the future. In a nutshell, I learned how to assist homeowners who are either behind in their mortgage payments or are having trouble...
I have written several articles in the last couple of weeks about the current status of Palos Verdes real estate. We have had better sales numbers in June compared to May. Now Peter Hong of the Los Angeles Times, who is usually ultra conservative, has written an article entitled, "Southern California median home prices surges in June". Could it be that we are finally turning the corner? Hong...
Statistics for single family homes for the month of June for Palos Verdes real estate are now available and as I indicated in my post earlier this week, "Good News for Palos Verdes Real Estate," the numbers are looking better. June 2009 had nearly twice as many closed sales (47) and one additional pending sale compared to May 2009. Months of inventory (months it would take to sell existing...
Preliminary sales figures for Palos Verdes real estate for June 2009 show an upswing in single family homes sales compared to both May 2009 and June 2008 which is significant. That is good news for Palos Verdes real estate! June 2009 has 48 closed sales compared to 24 in May - twice as many sales. And June of 2008 had only 38 closed sales compared to 48 this June. It looks like buyers have moved...
Mortgage rates have been see-sawing up and down a bit for the Palos Verdes real estate market. A 30-year fixed conforming loan is 4.875% which is a quarter percent higher than 2 months ago and a quarter percent lower than last week. A 5/1 Year ARM is 3.875% and a 5/1 Interest Only loan is 4%. 30-year Fixed Jumbo rates are 6.125% for borrowers with FICO scores over 740 and 30% down. A jumbo 5/1 Year...
Fourth of July on the Palos Verdes Peninsula will be celebrated at two special public events. There will also be several local firework displays in the evening. This year Palos Verdes Estates will be holding their48th Annual Independence Day Celebrationat Lunada Bay School, 520 Paseo Lunado. The festivities are free to the public and will begin at 9:45 a.m. with entries into the Apple Pie Contest...
Free summer fun in Palos Verdes Peninsula is not just for owners of Palos Verdes real estate, but is open to all. Here are some of the events to chose from this summer: The Lunada Bay Homeowners Association will be hosting "Summer Concerts in the Park" at Lunada Bay Park, Palos Verdes Estates, from 6:00 p.m. to 8:00 p.m. on July 9 (Beth Rhode & Guests - Brazilian Jazz) and July 26 (Marti...
There were 27 homes on the Palos Verdes real estate Broker's Tour. We currently have 294 active single family homes for sale in Palos Verdes ranging in price from $799,000 in Rolling Hills Estates to $18,900,000 in Rolling Hills (the low in Eastview is $585,000). There are 55 townhomes/condos for sale priced between $250,000 and $950,000. My favorites were: Nick Peters' 22 Oceanaire Drive,...