San Pedro, CA Real Estate News

By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
Springtime is a great time to buy a house, and April saw an up-tick in real estate activity in San Pedro.  Escrows and Sales are on the increase. That's sweet news!33 Single Family Homes are in escrow145 Single Family Homes are for sale58 Single Family Homes sold YTD Statistics posted May 1, 2008 from MLS records. Norma Toering & Team RE/MAX Palos Verdes Realty(310) 493-8333 / Office Phone: (310) 831-0800 South Bay Los Angeles cities I sell real estate and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach. Find Norma on: Facebook - Twitter - LinkedIn - Email Norma Palos Verdes Real Estate Blog - Palos Verdes Real Estate WebsitePalos Verdes Home Search - More...
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
An artist friend of mine is returning to Southern California and wants to buy a loft in San Pedro or Long Beach.  A few months ago I showed her the Centre Street Lofts in San Pedro,and she wants to check out other options before she purchases. Tomorrow I'll wear my Rockports and check out a few of the new loft projects in the cities of her choice. A few places on my must see list: The Bank Lofts:  Located in the heart of the San Pedro art district this is a must see. The Vue:  A full service brand new 16 story high rise along the waterfront in San Pedro. It is still in the construction phase with fabulous views from floor to ceiling windows. Then on to Long Beach with lofts galore. Are baby boomers opting for lofts instead of retirement communities?  Are they choosing urban living over ...
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
Yesterday I stopped by my listing to drop off more fliers and place an Open Saturday 1-4 sign.  The sellers wanted to take several fliers with them last night and distribute them in the Art District of San Pedro at the First Thursday Event.  I love it when a seller wants to become actively involved, so I rushed to Kinkos and delivered the papers hot off the press!    The first Thursday of every month the art galleries and shops hold a huge open house in downtown San Pedro.  Old San Pedro comes to life with people meandering in and out of unique shops as they browse through the galleries and stores.  Most just look, but a few fall in love with a piece of art and pull out their plastic.  It is a win win situation for the shops, restaurants, residents and the City of San Pedro.  By joining...
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By Rebecca Chambliss
(Vista Sotheby's International)
So many interesting developments here.  It appears Michael J. Rosenthal who purchased the property LESS THAN A YEAR AGO from John McCowan for $1.815 Million never really intended to keep the store open.  Although he claimed he was selling the property to "developers" he is still has full title to the property and is clearly trying to develop it himself.  Not a very honest guy apparently.Mr. Rosenthal has a very high percentage mortgage for the property, only putting $400,000 down for the purchase.  Now I've dealt with some true business people in my career and most have a little more cash to put down, especially on something like a grocery store...that is if they are planning to actually make the business work.Here's another interesting tidbit...Rosenthal purchased his primary residence...
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By Rebecca Chambliss
(Vista Sotheby's International)
I'm very excited to be part of such an exciting event!Spay Day LA will take place Sunday, February 24, 2008.A number of private and public groups have come together to provide FREE spay and neuter throughout Los Angeles for one day.  All of the LAAS centers will have spay/neuter information as well as vouchers available for those who qualify and give-aways for all who come by to visit.Please stop by the website, support our sponsors and partners and come see us on the 24th at all of Los Angeles City Shelters.  
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By Mary Thomas BH,MB,HB, PV, Estates LA+, Mary C. Thomas Your Agent around the Globe
( Remax Estates Properties)
San Pedro South Shores is on the up rise again. New renovations downtown make San Pedro a sure thing for the last of the speculative Ocean View Investors.Check out the inventory below and see what sold last year in your area, South Shores. You can see as of December the inventory is high  currently 15.7 mos. of inventory for sale. You can also see that the price per square foot of South Shores has gone up from 595.00 Per sq. ft. in 10/06 to as high as $735.00 and as of December, $635.00 per sq. foot. Feb. Statistics should be out soon and with that lower interest rate we are seeing the Buyers jumping back into the market lately.Date10/0611/0612/061/072/073/074/075/076/077/078/079/0710/0711/0712/07For Sale241922181918186018931941209522752385242527992861277525852272Sold3984224202933144504...
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By Mary Thomas BH,MB,HB, PV, Estates LA+, Mary C. Thomas Your Agent around the Globe
( Remax Estates Properties)
South SHores, San Pedro is proving to be on the rise from 2007 prices. It just goes to show you that as a Professor of mine once said," Invest in anything on the water and you will always make money in real estate."San Pedro is still one of the best kept secrets for Los Angeles County affordable ocean view property. Quaint and charming with a breathtaking Ocean view San Pedro is remodeling, redoing the Downtown area and is and has been for the past 5 years a diamond in the rough that is still relatvely affordable.We are so fortunate at Remax to have trend graphic charts available for the South Bay. WE can chart the inventory for all SOuth Bay Citites and check the market at anytime.
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By Mary Thomas BH,MB,HB, PV, Estates LA+, Mary C. Thomas Your Agent around the Globe
( Remax Estates Properties)
Happy Holidays and Merry Christmas!Here is your inside tip for the month that you will not hear on the street. Real Estate Insiders will tell you it is not to your benefit as the buyer to go directly to the Listing agent.  Some consumers think they are going to save money.  Yes it is great to cut out the middleman but what the public does not know is that the buyers are also cutting out their profit and spending more money to purchase the property most of the time.HERE'S THE FACTS:The listing agent does not want to offend their Seller.  If you do the math,An Agent will have 2 sales minimum commission dollars when you have a seller. One commission when you have a buyer.  Yes, the agent wants the buyer's commission but he is no dummy.  He will not risk offending the 2 commission seller to...
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By Rebecca Chambliss
(Vista Sotheby's International)
is closing.  Very sad news.The new owner did a fabulous job of rehabbing the store and turned it into a lovely place from the eyesore it had become in recent years.Apparently San Pedro was not supporting McCowans and the owner was losing money. I personally don't think he gave it enough time, but I understand it's tough when the financial picture isn't coming together.  Still, had he started a "SAVE MCCOWANS" campaign, I feel certain San Pedro would have woken up and supported the store.  McCowans is one of the things that makes San Pedro so unique and special and replacing it with new homes (the property is in escrow with a developer) just snuffs out that much more of the charm in this old town.www.RebeccaChambliss.com
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By Rebecca Chambliss
(Vista Sotheby's International)
Thanks for running me over! To the big white SUV that hit me and took off, Thank You. Since you broke my pelvis in 3 places, gave me lots of cuts and bruises and scared the bejezus out of me, you might think it odd that I am seeking you out to thank you. You see, I've never been cared for, treated well or loved. I was dumped as a puppy into a cold County shelter, I was scared and alone. One day a woman came in to adopt me and I was so happy. She took me home and chained me in the backyard and kicked me when I barked or peed. I slept on the concrete in the cold and my skin got infected, but she didn't help me. I wished for better days back at the shelter. One day my person untied me and took me out front and let me run free..boy was that fun, but when I came back home she was gone. There...
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By Rebecca Chambliss
(Vista Sotheby's International)
This weekend (December 1 & 2) the Eukanuba dog show is taking place at the Long Beach Convention Center.  Besides the ongoing show, there is lots to see;  There is a HUGE meet the breeds set up, representatives from all the different AKC breeds will have booths set up to provide information about the various breeds as well as dogs to meet.  It's a great opportunity to learn about the breeds, ask questions and find the right dog for your own family.Downstairs there will be lots of vendors with great stuff for your own dogs and a chance to buy gifts for your friends with dogs.I'll be at the Tibetan Mastiff booth, stop by and say hello! www.RebeccaChambliss.com
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By Rebecca Chambliss
(Vista Sotheby's International)
Thanksgiving is fast approaching and traditionally it is a day of rest, football and food, but why not start a new tradition and get the whole family up early and burning a few calories?  After all, anything that lets us eat more pie has got to be a good thing.Turkey Trots are runs that take place on Thanksgiving morning.  In the South Bay area there are two to choose from this year:The 5th annual Long Beach Turkey Trot has a choice of 5K, 10K or kids half mile run.  3500 participants are expected on the flat beachside run starting at Belmont Pool.  There are games, and pies to random finishers. Entry fees support the Community Action Team.The 28th annual Torrance Turkey Trot begins at Sam's Club in Torrance and is a 3 mile fun run (or just under 5K.)  They are asking participants to br...
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By Rebecca Chambliss
(Vista Sotheby's International)
I found the greatest place in the world to bathe/groom your own dog.  Everyone who knows me knows my dogs (my big hairy dogs) are my kids and they happen to have lots of aunts and uncles who take very good care of them.  For grooming, you won't find better than Leanna or Susan at A Pawfect world. They are champion award winning groomers who specialize in hand scissoring, they do more small dogs than large. For the large dog, Virginia at Whiskers N Tails is also great.For those days where you can't get into the groomer or just feel like spending some quality time with your pooch, Tidy Dog in Long Beach and Redondo Beach is the best.  The set up is well thought out, the staff is incredibly friendly and helpful and they provide EVERYTHING.  Now I've been to some self serve dog washes in my...
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By Rebecca Chambliss
(Vista Sotheby's International)
The newly built $5.2M Los Angeles Fire Department Station is having a grand opening Saturday November 10, 2007. The station was built with recycled materials and energy efficient features including low water landscaping.The men and women of FS 36 welcome the community Saturday for a tour of the station, food and activities for the kids.   The first Fire Station in San Pedro on Beacon Street was #36.  It now houses the Fire Museum which is definitely worth a trip on another day.The new FS 36 pays tribute to the original and will display a vintage fire engine on Saturday.The station is located at 1005 N. Gaffey. Festivities start at 10:00am, all are welcome!    San Pedro Real Estate-Rebecca Chambliss
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By Rebecca Chambliss
(Vista Sotheby's International)
Lomita's mayor Mark Waronek was overwhelmingly defeated in yesterday's elections.  Waronek was a paid consultant for the Ponte Vista project in San Pedro.  He attempted to distance himself just before the election, which didn't turn out to be the right timing for him.The voting population of Lomita was wise enough to see a conflict of interest.  The Ponte Vista project if allowed to build anything more than R-1 density will have a huge impact not just on San Pedro and RPV but also neighboring Lomita and Harbor City.  Bisno is still attempting to go forward with 1900 units even though the community and the comittee put together in part by him has said it's not a good idea for the community.I hope other local politicians take note.  The people who live near Ponte Vista do not support it a...
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By Rebecca Chambliss
(Vista Sotheby's International)
Yes, it's possible!  Home prices are dropping in parts of Southern California and for owner's who bought at the market's peak, that could translate to a lower property tax bill.Property taxes are based on 1% of sale price or assesed value, a dip in the market can shave quite a few dollars off the biannual payment.Reductions are permitted by Proposition 8, that allows the county assesor to temporarily reduce property taxes when the market values fall.  Homeowners need to be able to prove their value is less than the purchase price...How do your show the current value or your property?  Call your Realtor for help with recently sold comparables.You might receive a letter in the mail from new companies sprouting up that claim they will get your property taxes reduced for a fee.  You can pay...
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By Rebecca Chambliss
(Vista Sotheby's International)
The bathhouse is truely a treasure in San Pedro.  It was originally built in 1932 and utilized by those travelling to the coast by Red Car train from far away places.  It allowed beach goers to rent a bathing suit and towel, offered a place to get out of the sun and shower and change for the ride home.I remember the run down bath house when I was a kid.  It housed a makeshift marine museum with a shark hanging from the ceiling, huge turtle shells, dusty bottles of sea life specimines in formaldihyde lined the shelves.  There was no admission fee to get in and no real supervision.  It was always fun and always interesting, even if we were just playing hide and seek among the displays.The museum was moved to the great new building down the way designed by Frank Gherry and the bathhouse wa...
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By Cynthia Day
(Keller Williams Palos Verdes)
The third quarter stats for San Pedro are as follows: There was an increase in the number of sales from 71 in 2006 to 73 in 2007. The average sales price went from $725,011 in 2006 down to $633,714 this year. The average DOM (days on market) has increased from 43 to 59. There are some areas of San Pedro that when looking at their individual neighborhood stats, show more promising numbers.
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By Rebecca Chambliss
(Vista Sotheby's International)
I've copied the low to moderate income housing regulations from the Los Angeles City site.  Any new housing development in the city of Los Angeles is required to include 6% of Low income housing and another 9% of moderate income housing.  Low income is currently defined as households making 80% or less of the median local income, that is currently an income of $42,486 per year. Moderate income housing is defined as a household making 120% of the median local income a year.  A moderate income household is making $63,729 per year.This would mean Ponte Vista (if they were to build 1900 units) must make 114 units available for sale at $100,000 or less and 171 units available for sale at $191,824 or less (maximum affordable housing at those income levels with no down payment.)These units mus...
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By Rebecca Chambliss
(Vista Sotheby's International)
Ponte Vistahas reduced the plan from 2200 units to 1900.  The Community Advisory group put together has recommended the current zoning of R-1 be upheld.  The City Council person has said, she will follow the recommendation of the CAC and ask that the zoning be upheld.Many people (including myself) have suggested that Bisno Development build larger SFRs and sell them for more and that surely they will profit.  I've done some research unfortunately it's not true.I've put together some facts and figures and have estimated and rounded numbers, but you'll get the basic idea:$125 Million dollars was paid to purchase 61 acres in North San PedroThere are existing just under 500 SFR on the site.R-1 zoning would mean $250,000 was paid per parcel (at the 500 number) and each parcel would be 5227sf...
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