There are several 2008 holiday events coming up to be enjoyed by owners of Palos Verdes Real Estate. The 52nd Yule Parlor Parade featuring 3 beautifully decorated homes will be held Friday, December 5th, and Saturday, December 6th, from 11:00 a.m. until 4:00 p.m. with a Christmas Tea served at Neighborhood Church from noon to 4:00 p.m (benefiting...
Do you know what the speed limit is on Palos Verdes Estates city streets? It seems there are changes in the air. According to the Peninsula News, the city of Palos Verdes Estates has completed a recent survey of several streets (the last review was in 2002). "The process for setting speed limits is regulated by the California Vehicle Code, or CVS, according to a staff report. The CVS requires that...
On Thursday evening, I drove down Palos Verdes Drive South and noticed lights on at our new Terranea Resort. A call to Ara Mihranian, Project Planner at the City of Rancho Palos Verdes, confirmed that the contractors are working extended hours in the enclosed interiors of the site. It is the developers intent to have the project finished by June 2009. Photo above is of the entry court of the main...
Statistics for single family homes for the month of October for Palos Verdes Real Estate are now available. There were 21 closed escrows (32 in September) and 16 pending sales (19 in September). Active homes for sale have been reduced a bit to 264 (276 in September) . Average price for homes that closed escrow in October declined to $1,227,000 from $1,455,000 in October. This reflects the lower...
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,...
Good news for Palos Verdes Peninsula residents. There is a new banner (shown above) on the former Golden Lotus Restaurant site in the Golden Cove Center indicating Trader Joe's may be coming to Rancho Palos Verdes after all. The initial plans were scrapped after the landlord decided to rescind his application with the city of Rancho Palos Verdes after some neighbors complained. However, the...
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...
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...
What are the names of the Bays and Coves in Palos Verdes? That questions was asked of me a couple of weeks ago. And as a 30 plus year resident, I could not name them all. How lucky are we here on the Palos Verdes Peninsula that we have so many that we can't count or name them all! Our coastline is truly magnificent! Matt Waters at Rancho Palos Verdes Parks and Recreation Department did some...
Recently, I answered a question on Trulia Voices regarding property taxes for Palos Verdes real estate and thought it was worth a mention here also. When a property is purchased, it is reassessed by the Los Angels County Tax Assessor using the sales price as the base. The new property tax will be 1% of the purchase price plus any local bonds and assessments (usually averages another .0025 of the...