There were 19 homes on the Palos Verdes real estate Broker's Tour. We currently have 293 active single family homes for sale in Palos Verdes ranging in price from $749,950 in Rancho Palos Verdes to $18,900,000 in Rolling Hills ( the low in Eastview is $529,000). There are 57 townhomes/condos for sale priced between $209,500 and $950,000. My favorites were: Michael and Nadia Foster's 2620 Via...
Palos Verdes Peninsula Unified Schools again ranked in the top 10% of schools statewide based on Academic Performance Index scores. Great schools are one of the reasons that Palos Verdes real estate is so attractive to both buyers and current property owners. "The top score in all of South Bay, 968, went to Cornerstone at Pedregal Elementary in Rancho Palos Verdes " according to the Daily Breeze....
Last week Area Appraisal Management Company spoke at our Palos Verdes real estate office meeting to bring us up to date on the new appraisal rules - HVCC or Home Valuation Code of Conduct that went into affect May 1st. In the Sunday LA Times, Kenneth R. Harney wrote an article on the very same subject. They both gave the same information and it is not necessarily good. Lenders can no longer order...
There were 16 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 $799,950 in Rancho Palos Verdes to $18,900,000 in Rolling Hills (the low in Eastview is $529,000). There are 58 townhomes/condos for sale priced between $209,500 and $950,000. My favorites were: Laurie Hurley-Fuszard's 2648 Via...
Statistics for single family homes for the month of April for Palos Verdes Real Estate are now available. April 2009 had 3 less closed sales and 5 less pending sales than March 2009. Inventory of active listings/homes for sale rose again slightly for the fourth consecutive month which is great for buyers. The average price for homes that closed in April increased 20%. For the month of April,...
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...
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...