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...
Statistics for the month of August for Palos Verdes Real Estate are now available. There were 29 closed escrows, 26 pending sales in August and 51 closed escrows and 26 pending sales in July. The number of closed escrows are down compared to the last 5 months. Average price for homes that closed escrow in August was nearly the same at $1,480,000 compared to July at $1,496,000. Average days on...
Here is another great spot which was submitted by Mary McPherson. This is the Ocean Estates Trail in Rancho Palos Verdes. This is an easy walk along the bluff of our beautiful Palos Verdes coast looking out at the ocean and several coves. It is quiet and peaceful. There are benches to sit and take it all in. The Trail is located on the ocean side of Oceanfront Estates. At the end of...
This is the first in a series of special places on the Palos Verdes Peninsula which many owners of Palos Verdes real estate are not aware of. You might say these are "secret" places. The Gazebo at Roessler Pointis located in Palos Verdes Estates. The entrance is at the northwest end of the parking lot for Malaga Cove School (Paseo Del Mar and Via Arroyo). The Gazebo ia a great spot for...
The Lunada Bay neighborhood is located in Palos Verdes Estates. My favorite things about this neighborhood are the ocean views and the coastline bluff trails for walking. My son would say it was when the last Pirates of the Caribbean movie was being filmed (photo above) two summers ago and the cliffs were lined with people (including us) with binoculars watching. The Lunada Bay area is .7 square...
Statistics for the month of July for Palos Verdes Real Estate are available and the results were mixed again for July - more closed escrows and less pending sales. There were 38 closed escrows and 45 pending sales in June vs. 48 closed escrows and 21 pending sales in July. The days on market for sold properties in July was only 52 days compared to 67 days in June. Average price for homes that closed...
Recently, there have been Blue Whale sightings only two miles off the Palos Verdes Peninsula coast near Point Vicente. The Peninsula News reported that the whales are here to eat the abundant krill that are attracted to the nutrients near the continental shelf off our coast. The blue whale is the largest mammal on earth (as long as 3 school buses) and can weigh up to 336,000 pounds. They are an...
It's finally happened! The news media is discussing the turn in the real estate market. Although they do not specifically mention Palos Verdes Real Estate, statistics are given for the Los Angeles area. Recently, Barron's Jonathan R. Laing had a lengthly and well- documented article which is worth the read (click here for link to article). National statistics in the April S&P Case-Shiller...
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...
The Malaga Cove neighborhood is located in Palos Verdes Estates. The best thing about this neighborhood is the the ocean view and many properties also have the "Queen's Necklace" view which is a view of the coastline from Redondo Beach all the way around the coast to Malibu. It is spectacular and one of my favorite views (above). The Malaga Cove area is .66 square miles and has approximately...