Today, there were 16 homes on the Palos Verdes Real Estate Broker's Tour. We currently have 263 active single family homes for sale in Palos Verdes ranging in price from $749,000 (see below) to $18,900,000 in Rolling Hills (the low in Eastview is $479,000). There are 63 townhomes/condos for sale priced between $265,900 and $2,000,000. My favorites today are: Raju Chhabria's 5 Sagebrush Lane,...
The news today from the Federal Housing Finance Agency was that conforming loan limits will remain at $417,000 in the continental United States for 2009. There are higher loan amounts for certain counties. These are known as 'High Cost Areas" and we are one of them. Our conforming loan limits will be $625,000 (In 2008, we enjoyed a higher limit of $729,750). Any loans above $625,500 will be at...
I recently visited the new 55 and over community of Rolling Hills Villas located in Rolling Hills Estates on Deep Valley Drive. This is a welcome addition to Palos Verdes real estate. It is conveniently located within walking distance to the Promenade, Bristol Farms, medical buildings, the post office, library and many other shops in the area. The condominium units are beautiful with granite...
On Tuesday, I attended a presentation by Robert A. Kleinhenz, Deputy Chief Economist for the Callifornia Association of Realtors, to hear the forecast for Palos Verdes real estate. Although, Kleinhenz did not have information specific to Palos Verdes (because we need a minimum of 30 sales per month for their formulas), the Market Outlook was a good perspective on our overall economy nationally,...
Today, there were 19 homes on the Palos Verdes Real Estate Broker's Tour. We currently have 274 active single family homes for sale in Palos Verdes ranging in price from $785,000 in Rancho Palos Verdes ($479,000 in Eastview) to $18,900,000 in Rolling Hills. There are 64 townhomes/condos for sale priced between $259,000 and $2,000,00. My favorites today are: Rick Edler's 1200 Via Landeta,...
The big news yesterday was that home resales nationally rose more than forecast in September. Sales of existing units rose 5.5% in September to the highest level in a year. Inventory of homes for sale fell 1.6% in September which was the second month in a row to show a decline. The biggest sales gain was in the West, where sales increased 16.8%. What does this mean for owners of Palos Verdes real...
Statistics for single family homes for the month of September for Palos Verdes Real Estate are now available. There were 31 closed escrows (30 in August) and 15 pending sales (35 in August). Active homes for sale have remained fairly constant (276 in September) for the last 4 months and up from the same period a year ago (227 in September 2007). Average price for homes that closed escrow in...
Today, there 21 homes on the Palos Verdes Real Estate Broker's Tour. We currently have 282 active single family homes for sale in Palos Verdes ranging in price from $785,000 in Rancho Palos Verdes ($619,000 in Eastview) to $18,900,000 in Rolling Hills. There are 64 townhomes/condos for sale priced between $270,000 and $2,000,000. My favorites today are: Cora Fischer's 1605 Via Barcelona,...
Yesterday, the Fed lowered interest rates one-half a percent. The Fed Fund Rate now stands at 1.5% and the Discount Rate is 1.75%. What do you think happened with home mortgage rates? No, they did not go down but went up instead one-half a percent. A 30-year fixed loan at zero points for Palos Verdes real estate (and elsewhere) is 6 .375% conforming, 6.5% jumbo conforming and 7.5% for jumbo...
I have had several clients ask questions regarding foreclosure properties. There have not been too many on the Palos Verdes Peninsula. Foreclosures are not your normal purchase and a buyer is usually on his own (unless he hires a Realtor to act as his Buyer's Agent to help him navigate through the process). Here is the time-line for the process. A NOD property is one that has a Notice of Default...