Statistics for the month of June for Palos Verdes real estate are available and the results are mixed - holding as far as price is concerned and down for number of transactions. The average price for single family homes sold in the month of June was $1,786,000 up from $1,677,000 in May ($1,699,000 average for the last 12 months). The statistics are different for number of pending and sold...
"How is my credit score determined?" ask buyers of Palos Verdes real estate. The chart above details the scoring system used by Fair Isaac, the creator of the FICO score, one of the most widey used credit scoring methods employed by most banks and lenders in the United States. What surprised me is that Payment History (35%) is twice as important as Length of Credit History (15%) . Making even a...
Yesterday, there were 28 homes on the Palos Verdes Real EstateBroker's Tour which is surprising for a holiday week (usually there are less). And nearly half of the homes were new listings. Today, there are 267 active single family homes for sale on the Palos Verdes Peninsula compared to 210 active listings this time last year. Interest rates for a 30-year fixed rate mortgage are 6.375% conforming and...
Where exactly is the real estate market going? Owners of Palos Verdes real estate as well homeowners across the country would love to know the answer. In addition to the "in your face" reporting about real estate (which can be pro or con depending on the reporter and which forecast he is looking at) there are other subtle indicators. Recently Newsweek had an article buried on page 61 entitled...
There were 22 homes on Broker's Tour yesterday. We currently have 256 active single family homes for sale in Palos Verdes ranging in price from $849,000 in Rancho Palos Verdes ($589,000 in Eastview) to $23,000,000 in Rolling Hills. My favorites today were all in Palos Verdes Estates: Bobbie Owen's 2 El Portal, Palos Verdes Estates, (above left) is a 6 bedroom, 4.5 bath, 4391 square foot home for...
Statistics for the month of May for Palos Verdes real estate are available and indicate our market is holding. Average price for single family homes sold in the month of May was $1,677,000 vs $1,667,000 in April. Number of homes reported sold (closed escrow) for the month of May was 43 which was the same for April. Number of homes pending for the month of May was 39 vs 40 in April. Inventory of...
This is a buyer's market, right? What happens when a buyer has read and listened to all the media reports about how the buyer is king now? The buyer may feel empowered to offer considerably less than the asking price and considerably less than all recent sold comps. Some sellers are so insulted that they won't even counter the offer. Here is an idea for those considering Palos Verdes real...
Today there were 26 homes on Broker's Tour. We currently have 253 active single family homes for sale in Palos Verdes ranging in price from $599,000 (in Eastview) to $23,000,000. My favorites today were: Joan Zirkel's 6739 Vallon Drive, Rancho Palos Verdes (above left), is a 5 bedroom, 3 bath, 3177 square foot home for $1,650,000. This remodeled home has an ocean view, 3 car garage and backs to...
Today there were 22 homes on Broker's Tour. We currently have 258 active single family homes for sale in Palos Verdes. My favorites today were: Al D'Amico's 12 Pony Lane, Rolling Hills Estates (above top), is a 3 bedroom, 2 bath, 2317 square foot home for $1,575,000. This is "A Horse Lover's Dream" on a 20,000 square foot lot with a 2-stall barn and exercise ring adjacent to the...
The self-fulfilling prophecies are right again according to the LA Times article "At the luxury end, home prices are falling." The upper end of the market is feeling some pain. It appears misery loves company. Statistics are in for the month April and indicate some exclusive neighborhoods show decreased sales prices compared to April 2007. Palos Verdes real estate had mixed reviews. Palos...