Statistics for the month of October 2009 for Palos Verdes real estate are now available and they again indicate stability in our market. The Active number of homes for sale in Palos Verdes have continued to decrease to an all time low (in the last 15 months) of 292 homes currently available for sale. 66 homes Sold/closed escrow in October and 76 homes have Pending Sales which is twice as...
There were 18 homes on the November 10, 2009, Palos Verdes real estate Broker's Tour. We currently have 230 active single family homes for sale in Palos ranging in price from $750,000 in Rancho Palos Verdes to $14,900,000 in Rolling Hills (the low in Eastview is $625,000). There are 51 townhomes/condos for sale priced between $250,000 and $1,500,000. My favorites were: Laurie Hurley's 7400...
Both the House and Senate have passed the new extended/expanded Homebuyer Tax Credit and it is now awaiting the President's signature. Previously, the first time buyer credit of $8,000 was to expire on November 30, 2009, but it will now be extended to April 30, 2010. The new bill also includes a $6,500 credit to qualified homeowners looking to "move up" by purchasing a replacement home for...
Earlier this week, I heard the City Managers from all 4 cities on the Palos Verdes Peninsula speak at the Palos Verdes Peninsula Association of Realtors meeting. Here is a synopsis of their update: Joseph Hoefgen, City Manager of Palos Verdes Estates, told us that the PV Dr West stabilization near Bluff Cove begins in a couple of weeks and should be complete in January 2010. The Golf Club...
There were 15 homes on the October 27, 2009 Palos Verdes real estate Broker's Tour. We currently have 244 active single family homes for sale in Palos Verdes ranging in price from $750,000 in Rancho Palos Verdes to $14,900,000 in Rolling Hills (the low in Eastview is $599,900). There are 50 townhome/condos for sale priced between $230,000 and $1,500,000. My favorites were: Rick and Kitty...
Yes, we do have foreclosures in Palos Verdes real estate. Currently there are 2 active single family residences and 1 condo that are REOs (or bank-owned properties). 669 Via Del Monte, Palos Verdes Estates, is a 4 bedroom, 3 bath, 3,469 square foot home listed for $1,449,900. 4053 Via Pavion, Palos Verdes Estates, is a 4 bedroom, 3 bath, 2,336 square foot home listed for $999,900. ...
There were 10 homes on the October 13, 2009, Palos Verdes real estate Broker's Tour. We currently have 247 active single family homes for sale in Palos Verdes ranging in price from $750,000 in Rancho Palos Verdes to $14,900,000 in Rolling Hills (the low in Eastview is $600,000). There are 56 townhome/condos for sale priced between $220,000 and $1,500,000. My favorites were: Pearl Kaperl's...
There were 18 homes on the September 29, 2009, Palos Verdes real estate Broker's Tour. We currently have 248 active single family homes for sale in Palos Verdes ranging in price from $750,000 in Rancho Palos Verdes to $18,900,000 in Rolling Hills (the low in Eastview is $565,000). There are 60 townhome for sale price between $218,000 and $1,500,000. My favorites were: Steven Watts' 3820 Via...
In Washington and beyond, the discussion is stirring as to whether to extend the First Time Home Buyer Tax Credit of $8,000 which is set to end November 30, 2009. I believe extending this credit will benefit homeowners across the board including owners of Palos Verdes Real Estate. At first glance, it may not look beneficial to owners of Palos Verdes real estate because the applicant's income cannot...
In the last six weeks interest rates for Palos Verdes real estate have remained fairly steady. The interest rate for a 30-year fixed mortgage going down 1/4 point to 4.75% for a conforming loan and remaining at 5.785% for a jumbo loan. A 5/1 Year ARM is 3.75% for a conforming loan and 5.125% for jumbo loans. A 5/1 Interest Only conforming loan has a 3.75% interest rate and a jumbo loan has a 5.25%...