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...
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...
I wish I had a crystal ball to tell sellers of real estate in Palos Verdes what price their home will sell for. There are the obvious variables - location, condition, amenities like views, etc. and the "forgotten" variables like the market perception of the buyers. As we have experienced, the media also plays a large part in the buyer's mood. As more and more buyers begin their home search on...
"Palos Verdes Estates City Council recently reviewed completed reports on the slow, yet consistent, land movement at the north end of Bluff Cove, located at Palos Verdes Drive West near Via Montemar" reported the June 12th Peninsula News. I have noticed the red pylons decorating the road for months. During his presentation at an April Board of Realtors Meeting, Joe Hoefgen, City Manager for Palos...
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...
Are open houses an efficient sales tool for sellers? I am up front with my clients selling Palos Verdes real estate. I tell them that I will hold occasional public open houses for them; statistics show that only 3% of homes are sold to buyers walking into an open house. Plus there is the security issue. I cannot be in every room at every minute and we receive periodic notices from other Realtors...