Palos Verdes Estates, CA Real Estate News

By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
 I've been spending a lot of time in the charming coastal community of Lunada Bay recently.  As a real estate professional, I seem to circle around the Palos Verdes Peninsula once a day or so, and it's not unusual for my real estate work to "cluster" in one neighborhood as a sale or listing may generate more of the same in the neighborhood.Here's a quick update on the single-family residential real estate market in Lunada Bay as of October 31, 2016:  Two Lunada Bay Homes Sold in October 2016. 20 Lunada Bay Homes are currently for sale. 13 Lunada Bay Homes are in escrow with accepted offers. 60 Lunada Bay Homes have sold YTD in 2016   If Lunada Bay is where you live, or aspire to reside, there's a page just for you! Contact Norma Toering at 310.493.8333 with your Lunada Bay real estate q...
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
I wrote the original version of this article in 2011; it remains a perennial favorite for web search results, so perhaps it is time for a 2016 update on luxury home sales on the Palos Verdes Peninsula.First, the criteria bar for luxury homes has moved--upward to $3,000,000.  That change gives an indication of the condition of the uber-luxury home market in Palos Verdes.High ranking Palos Verdes Peninsula areas for luxury home sales in 2015-2016 (September to September).   Lunada Bay topped the luxury home sales list with 11 properties selling at or above $3,000,000.   Rolling Hills snagged second place with 10 luxury residential sales.   Malaga Cove, another Palos Verdes Estates neighborhood, recorded nine luxury sales for the twelve-month period.   Monte Malaga in Palos Verdes Estates ...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
 There are 58 homes listed for sale in the City of Palos Verdes Estates at the end of September, which is 10% higher than this time a year ago. The number of homes sold over the last 3 months, averaging 15 sales per month, is down 15% compared to the same period last year, with only 8 homes sold in September however . This equates to almost 4 months of inventory, based on the average sales per month over the last 3 months. There are 19 homes in escrow at the end of September.     The following is a list of the 8 homes sold in the City of Palos Verdes Estates during the month of September 2016:     The average price per square foot over the last 3 months has been $755 per sq. ft. a 4% increase over the similar period last year.   The average days on market for homes sold during last 3 mo...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
 There are 65 homes listed for sale in the City of Palos Verdes Estates at the end of August, which is 62% higher than this time a year ago. The number of homes sold over the last 3 months, averaging 17 sales per month, is down 15% compared to the same period last year . This equates to 3-4 months of inventory, based on the average sales per month over the last 3 months. There are only 8 homes in escrow at the end of August.     The following is a list of the 16 homes sold in the City of Palos Verdes Estates during the month of August 2016:     The average price per square foot over the last 3 months has been $811 per sq. ft. an 8% increase over the similar period last year.   The average days on market for homes sold during last 3 months was about 2 to 3 months. The percentage of list ...
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By Elaine Murphy Carlson
(RE/MAX Estates Properties)
Palos Verdes homes sales in the Valmonte neighborhood for the first half of 2016 decreased to 20 single family homes sold in 2016 compared to 32 in 2015.  Price per square foot for Valmonte houses that sold in the first half of 2016 increased to $722 from $647 in 2015, a 11.5% increase.  Average sales price for Valmonte homes sold in the first half of 2016 increased to $1,706,533 in 2016 compared to $1,487,641 in 2015.  The most expensive Palos Verdes home sale in the Valmonte neighborhood was $3,050,000 and the lowest priced Palos Verdes home sale in the Valmonte neighborhood was $917,000. Currently, the Valmonte neighborhood has 8 Palos Verdes homes for sale.  There are 8 single family homes for sale ranging in price from $1,195,000 for a 2 bedroom/2 bath, 1,500 square foot home, to ...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
A recently released report by ValuePenguin.com, a personal finance and research and analysis website,ranked California towns based on a variety of FBI crime metrics, including property-based crimes, like burglaries and vehicle thefts, and violent crimes, including rape, robbery and aggravated assault.   Palos Verdes Estates ranked 7th on the list of safest cities in California regardless of size right behind Hillsborough out of 416 cities analyzed. Rancho Palos Verdes ranked 30th overall and 10th in the list of safest mid-size cities. Rolling Hills Estates ranked 40th overall .
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
Newsweek has released it's list of the top high schools in the nation and the two Palos Verdes High schools ranked in the top 175 in the nation. Palos Verdes Peninsula High School's rank was #50 and Palos Verdes High School was ranked #174.                         Two other South Bay High Schools ranked in the top 300, with West Torrance High at #238 and South Torrance at #289.Newsweek looked at six measurements and weighted them to come up with a “college readiness index.” The rankings are meant to show how well high schools do at preparing students for college.
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
 There are 68 homes listed for sale in the City of Palos Verdes Estates at the end of July, which is 14% higher than this time a year ago. The number of homes sold over the last 3 months, averaging 18 sales per month, is down 19% compared to the same period last year . This equates to 3-4 months of inventory, based on the average sales per month over the last 3 months. There are 18 homes in escrow at the end of July.     The following is a list of the 19 homes sold in the City of Palos Verdes Estates during the month of July 2016:     The average price per square foot over the last 3 months has been $770 per sq. ft. an 8% increase over the similar period last year.   The average days on market for homes sold during last 3 months was about 2 to 3 months. The percentage of list price for ...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
Interest rates for buying a home on the Palos Verdes Peninsula edged slighly up this week . The following are excerpts from the newsletter on interest rates published by HSH Associates :"After touching three-year lows in July, mortgage rates ended the month on a flat note. The turbulence from Brexit has faded to a considerably degree, and it may just be that the summer doldrums for markets have kicked in. If so, we will likely be in for a rather directionless period for mortgage rates.The Federal Reserve completed a two-day meeting on Wednesday this week. No change to short-term interest rates or other monetary policy tools was expected, and none came, nor was there any specific mention about Brexit or the market turbulence the vote caused around the globe. As far as how markets are at ...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
 There are 71 homes listed for sale in the City of Palos Verdes Estates at the end of June, which is 29% higher than this time a year ago. The number of homes sold over the last 3 months, averaging 15 sales per month, is down 25% compared to the same period last year . This equates to 4-5 months of inventory, based on the average sales per month over the last 3 months. There are 19 homes in escrow at the end of June.     The following is a list of the 10 homes sold in the City of Palos Verdes Estates during the month of June 2016:     The average price per square foot over the last 3 months has been $767 per sq. ft. a 16% increase over the similar period last year.   The average days on market for homes sold during last 3 months was about 2 months. The percentage of list price for homes...
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By Elaine Murphy Carlson
(RE/MAX Estates Properties)
Malaga Cove Summer Concert Series will begin on Wednesday, July 13, 2016, at Farnham Martin Park located next to the Malaga Cove Library in Palos Verdes Estates.  The concerts are held on Wednesdays at 7:00 p.m. and continue through August 31st.  Thanks again to the Malaga Cove Business & Professionals Association and the Palos Verdes Police Association who sponsor these concerts for your summer entertainment.  You may bring your blankets at 3:00 p.m to save a spot, but remember that only small back chairs are allowed in the center areas.  The list of the 2016 summer performers is as follows: July 13, 2016 – Andy and Renee – Pop/Rock July 20, 2016 – Bad Haggis – Electric Celtic Rock July 27, 2016 – Joanna Medawar Nachel Singers – pop/blues/Motown/Broadway August 3, 2016 – Chuck Alvarez ...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
Interest rates for buying a home on the Palos Verdes Peninsula edge downward this week following the turmoil in the markets due to the U.K. vote to leave the EU. The following are excerpts from the newsletter on interest rates published by HSH Associates : "As expected, mortgage rates were incrementally lower with week as markets continue to digest the fallout from the U.K's exit from the European Union. The initial leg down in mortgage and other interest rates that happened last Friday and to a lesser degree on Monday petered out during the week, as investors apparently decided that the world hadn't come to an end after all. Equity markets around the world have retaken some or all of the declines that occurred in the aftermath of the vote, and a kind of calm has formed in markets.That ...
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
This is going to be a long list, and I'm only going to scratch the surface, so let's get started.  The list is in no particular order--just the way it popped into my head after living in the area since 1989.The Palos Verdes Peninsula is a 26.3 square mile area located in the southwest corner of Los Angeles County. The Peninsula is 23 miles south of downtown Los Angeles.1)   The Climate:   Average temperature in January--66 degrees.  Average temperature in July--77 degrees.2)   The Coastal Location:  It's the Palos Verdes Peninsula and the Pacific Ocean kisses three sides 24/7.3)   The Views:  Ocean to the south and west.  LA city lights to the north and LA Harbor to the east.4)   The Schools:  PV is home to a top ranking public system and a plethora of top-notch private schools.5)   The...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
                                      Flotsam CastleOne of the most unusual homes ever constructed in the beach communities of the South Bay was a home constructed entirely of driftwood by a local “hermit” on the beach at the southern end of Torrance Beach. The home was constructed by Louis C. Dart during the period from September 1919 to 1925 , according to articles published from 1920 to 1922, and was known as both the “Flotsam Castle” as well as the “Hermit’s Castle”. An early picture provided by Jerry Tomlinson, below, of a very early picture of the Castle was estimated, however, to be in approx. 1910 to 1911.Oliver, grandfather of Jerry Tomlinson, on the left ,later to become Mayor of Redondo Beach, and the father of Jerry as a young boy to the right of Louis Dart in the center Fol...
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
It's hot here in the Greater Los Angeles area, and per a bevy of weather forecasters, the thermometer is going to reach new heights today.With that in mind, I thought you might like to see a few photos of the beaches (and a few rocky coastlines) of the South Bay of Los Angeles. Private Beach in Rancho Palos Verdes--residency or membership required.    Not much sand here, but look at that whitewater along the Palos Verdes coastline.    What could be better than an evening stroll to escape the heat and enjoy a Palos Verdes sunset?    Stroll along The Strand in the beach cities and dip your toes in the cool froth of the Pacific Ocean.    It's the ocean, so swim close to one of the lifeguard shacks--there are riptides and sharks (yikes) in the beautiful Pacific Ocean.    An evening stroll o...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
There are 56 homes listed for sale in the City of Palos Verdes Estates at the end of April, which is 56% higher than this time a year ago. The number of homes sold over the last 3 months, averaging 14 sales per month, is down 5% compared to the same period last year . This equates to 4 months of inventory, based on the average sales per month over the last 3 months. There are 23 homes in escrow at the end of April.         The following is a list of the 10 homes sold in the City of Palos Verdes Estates during the month of April 2016:     The average price per square foot over the last 3 months has been $704 per sq. ft. a 12% increase over the similar period last year.   The average days on market for homes sold during last 3 months was about 2 to 3 months. The percentage of list price f...
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
  ​Is your home ready for its closeup?  The "Fifteen Seconds of Fame" rule certainly applies to selling your home since nearly 50% of prospective buyers drive by their favorite properties BEFORE they schedule an appointment to tour the home with their real estate agent.Yes, that's right.  After locating your home on the Internet and deciding it is in the right price range and the right neighborhood many buyers will check it out from the curb.  Sellers, you can either win them here or lose them.  Over the years, we've had many buyers eliminate a home from our show list based solely on curb appeal.Don't let the curb appeal of your home cost you showings and even a sale.  Every home's curb appeal can be improved no matter the style or age of the property.  We can help you maximize the curb...
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
 Just in case any of you sellers think this agent does not empathize with the trials and tribulations of selling a property occupied by people and pets, my first experience selling a property was from the seller's perspective.Let me introduce you to the cast of characters who played leading roles in my first real estate sale. One was a seven-month pregnant woman (me), and let's not forget the two-year-old who never napped. Just to complete the picture, there was a dog who hated strangers and was still trying to master the art of relieving himself outdoors--thank heavens for hardwood floors and baby gates! To complicate matters the man of the house was never at the house since he was already working in Chicago.The job of selling the house fell on my shoulders.  My method of selecting an ...
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
 New listings are being gobbled up at a fast pace by buyers who are hungry to purchase a home on the Palos Verdes Peninsula. The length and strength of this seller's market are remarkable even to someone who views the real estate market statistics on a daily basis.  At the current rate of absorption, there is less than a two-month supply of inventory if no new properties come on the market. That's a white hot real estate market with sellers holding the trump card if they have a house to sell.Let's let the April 2016 statistics do the talking:There are 189 single family Palos Verdes homes currently listed for sale.There are 120 Palos Verdes residences in escrow with accepted offers. (Let's all say WOW).65 Palos Verdes single family homes sold during the month of April per MLS records.At ...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
Interest rates for buying a home on the Palos Verdes Peninsula edge downward this week. The following are excerpts from the newsletter on interest rates published by HSH Associates : "Now in the valley between the last and the next Federal Reserve meeting, financial markets must study and react to new inbound data about the economy and inflation. As such, mortgage and other interest rates will be pushed and pulled, fully dependent upon both individual items and the collective tenor of the mass.Provided the needle doesn't run very hot for very long (a happenstance we've not seen in a good long while) nor show the kind of weakness that could point to deflation or even an economic downturn, interest rates can really only run in a range, at times tending to the bottom of it, and at other ti...
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