Prices for Palos Verdes real estate have not been fluctuating as much as other areas. However, when one looks at the average price for single family residences at the end of March 2009 (1,259,000) compared to March 2008 ($1,608,000) there is a 27% decrease but what those numbers do not show is that the number of sales under $1,000,000 are currently the bulk of sales (40 out of total sales of 82...
Clients often ask what the school boundaries are in Palos Verdes. For High School it is an easy answer - Currently there is open enrollment for both Palos Verdes High School and Palos Verdes Peninsula High School; incoming students may choose either. See my article from 1/30/09 with particulars about each school by clicking here. We have 3 intermediate or middle schools in Palos Verdes - Palos...
Yesterday, there were 26 homes on the Palos Verdes real estate Broker's Tour. We currently have 306 active single family homes for sale in Palos Verdes ranging in price from $799,950 in Rancho Palos Verdes to $18,900,000 in Rolling Hills (the low in Eastview is $529,000). There are 59 townhomes/condos for sale priced between $224,900 and $1,750,000. My favorites were: Steve Simonettti's 2205...
Mortgage rates are down again for the Palos Verdes real estate market. A 30-year fixed conforming loan is 4.625% - That is a record low in Freddie Mac data going back to 1971! Fixed mortgage rates in the U.S. fell for a second consecutive week as the Federal Reserve plan to buy mortgage-back securities helped drive rates lower. 18 properties on the Palos Verdes Peninsula went into escrow in the...
What is the outlook for Palos Verdes real estate? I attended a forecast meeting presented by Robert A. Kleinhenz, Ph.D., Deputy Chief Economist for the California Association of Realtors. There was good news and "other" news. First the good news. Affordability for California is now at 60%; it was 23% in 2007. Interest rates are at historic lows and probably will remain at these levels through the...
Yesterday, both the Daily Breeze and Los Angeles Times had housing reports. The Daily Breeze headlined with "County home prices look to be stabilizing." Los Angeles County home sales made its third consecutive gain while prices remained stable leading some to believe that the market has "finally hit bottom." The lower end of the market is moving and the upper end is slower. For Palos Verdes real...
There were 29 homes on the Palos Veres real estate Broker's Tour. We currently have 328 active single family homes for sale in Palos Verdes ranging in price from $845,000 in Rancho Palos Verdes to $18,900,000 in Rolling Hills (the low in Eastview is $529,000). There are 56 townhomes/condos for sale priced between $229,500 and $925,000. My favorites were: My own listing at 3005 Via Rivera,...
Statistics for single family homes for the month of March for Palos Verdes Real Estate are now available. March 2009 had more than twice as many sold/close escrows and slightly more pending sales than February 2009; the sold/pending numbers are down, however, when compared to March 2008. Inventory of active listings/homes for sale rose again for the third consecutive month which is great for buyers....
The Silver Spur area (also known as Grandview) is located in Rancho Palos Verdes. The best thing about this neighborhood is its close proximaty to schools and shopping. It is home to 3 award winning schools -- Palos Verdes Peninsula High School, Silver Spur Elementary and Cornerstone Elementary. Peninsula Shopping Center and The Promenade are at it's southern border. The Silver Spur...
Mortgage rates are down for a 30-year fixed compared to last month for the Palos Verdes real estate market. These rates are as of April 3, 2009. Also of note, the California Association of Realtors announced "a new program designed to provide peace of mind to first-time buyers who are hesitant to enter he housing market due to concerns about potential job loss, and subsequently being unable to...