Everyone wants to know how the Palos Verdes real estate market is doing. I am an optimist by nature so I have to check for facts before I give my opinion. Currently we have 32 properties that have sold/closed escrow since the first of the year compared to 23 properties this same time period in 2008. Additionally, there are currently 42 properties in escrow. So the Palos Verdes real estate market...
A very special place to visit in Palos Verdes Estates is the Labyrinth at Neighborhood Church. There is a memorial plaque which reads, "For the Journey of Life to Help You find Your Way." It is "Dedicated to the Memory of Miriam Levonian". As you walk the path to the center (which is marked as a shell), you are to ponder your life. I am usually struck with thoughts of all that I have to be...
Yesterday, there were 31 homes on the Palos Verdes real estate Broker's Tour. We currently have 249 active single family homes for sale in Palos Verdes ranging in price from $775,000 in Rancho Palos Verdes to $18,900,000 in Rolling Hills (the low in Eastview is $585,000). There are 50 townhomes condos for sale priced between $339,000 and $885,000. My favorites were: Van Barbieri's 6580 Sea...
How to get buyers off the fence and into their new homes in Palos Verdes is the question of the hour. This morning, the Los Angeles Times had two interesting articles on that very subject. "A reverse offer gets attention" by Lew Sichelman explores a unique concept - What can the Seller do to coax the Buyer to the table? Sichelman suggests that the Seller may want to make the Buyer an offer. That...
The Property Information Book is key for my Sellers. When I get a new listing for Palos Verdes real estate, I have my Sellers fill out all the disclosures and order all reports on the property prior to the property actually hitting the Multiple Listing Service. The Property Information Book stays at the property for potential buyers to view and packets of these reports/disclosures are available for...
Yesterday, there were 28 homes on the Palos Verdes real estate Broker's Tour. I saw 15 properties which was quite a feat as they were spread out in four different cities. We currently have 254 active single family homes for sale in Palos Verdes ranging in price from $729,000 in Rancho Palos Verdes to $18,900,000 in Rolling Hills (the low in Eastview is $585,000). There are 53 townhomes/condos for sale...
I was recently asked about reduction in property taxes for areas of declining values. Although statistics show that Palos Verdes real estate has only declined 6.2% in 2008, it might be worthwhile to request a reassessment from the Los Angeles County Tax Assessor if you have purchased your home in the last few years. By the way, you really can do this yourself and do not need to hire one of the...
The numbers are in and owners of Palos Verdes Real Estate single family residences experienced a 6.2% decline in 2008 average sales price compared to 2007. That is actually not bad compared to the rest of Los Angeles County which was down about 28%. Home values on the Palos Verdes Peninsula have held fairly steady: 2008 was the first year of declines in recent memory. Palos Verdes homeowners...
I am often asked by owners of Palos Verdes real estate which remodeling projects will give them the greatest return on their investment. The answer is siding replacement, window replacement and major kitchen remodel according to the December 2008 Realtor Magazine. This article covers areas around the country and states, "Pacific Coast cities recorded the best payback on remodeling by a wide...
Palos Verdes Estates City Council has selected a "combination of caissons and tiebacks to create a wall that will support PF Drive West" reports the Palos Verdes Peninsula News. The road has been affected by the landslide above Bluff Cove. The caissons will be 53 feet deep; the tiebacks are horizontal wires used to reinforce the caissons for stability. The cost could be up to $1.2 million. No...