San Pedro, CA Real Estate News

By Rebecca Chambliss
(Vista Sotheby's International)
UPDATE 09-30-09 Vick entered into a sponsorship deal once again with Vick.  This is a totally unacceptable move by Nike and in my opinon calls for a total boycott of Nike products.  Yes, Vick did his time and I'm all for forgiveness, but I see no reason to reward the man.  I do not believe animal abusers can be rehabilitated and certainly not in the short amount of time Vick spent in prison.  Please contact Nike and let them know your thoughts and more importantly consider boycotting Nike products. ------- Dog fighting is inhumane, violent and disturbing to say the least.  Michael Vick of the Atlanta Falcons has been charged with being the ring leader for a huge dog fighting ring where the dogs were not only brutalized by other dogs, but tortured by humans as well. Nike has long been a ...
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By Rebecca Chambliss
(Vista Sotheby's International)
As of today, July 26, there are 236 properties listed on the MLS in San Pedro.  This does not include the new condos on the North side of San Pedro or the lofts down town, so there are an additional 500 or so available condos for sale from those projects.34 units listed under $400,00072 Units listed under $500,000127 Units listed under $600,000172 Units listed under $700,000199 Units listed under $800,000216 Units listed under $900,000221 Units listed under $1M232 Units listed under $1.5M234 Units listed under $2.0236 Units listed under $3.0 Most of the condos on the North side of San Pedro (approx 250) will be sold for $500,000 and under, also many of the condos downtown are being sold in that price range.The vast majority of housing currently for sale is under $600,000 which indicates...
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By Rebecca Chambliss
(Vista Sotheby's International)
It seems that Bisno development has worked out deals on other projects that involve a Private Transfer tax.  What does this mean? A "fee" is taxed onto each property that is charged every time the property is sold.  The "fee" goes to a named party.  It can be the builder, an environmental or historical group (who often bargan for it in exchange for green lighing a development project).  This is a fee that does not have to be disclosed in standard Real Estate disclosures.  There are no limits as to percentage of the fee and no limits as to where the fee can go.Could this be the reason a higher number of units is so important to Bisno?  Certainly 500 SFR in a gated community would net the same sales amount as 1900 mixed use units however, the more units with a private transfer tax associa...
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By Mary Thomas BH,MB,HB, PV, Estates LA+, Mary C. Thomas Your Agent around the Globe
( Remax Estates Properties)
Little League has a sad day in San Pedro since the city lost it's lease on the field. San Pedro can boasts of the Major League Players of Pedro Guerrero,Jorge Bell and Sammy Sosa.  It's a good thing those little leaguers had a field to play in.  Gee what do you think San Pedro would have voted for?  Sammy Sosa or a new target parking lot?  Sammy would have gotten my vote. But then I would have voted for God, the Pledge of Allegiance and Apple Pie....Target bought the land and wants more parking.  Seems to me that Target does just fine in Torrance with it's small parking lot it shares with Ralphs. I am all for corporate america making a profit but somethings just should not compromise our morals and should take presidence over retail stores. Why doesn't someone step up and help these bas...
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By Rebecca Chambliss
(Vista Sotheby's International)
Today I joined a lovely group of people who have formed the group R Neighborhoods are R-1 on Western Avenue to support the existing zoning of R-1 at Ponte Vista.  The developer purchased the property knowing what the zoning was and hoped to be able to change it to a much higher density as he has been able to do in other communities.A group of about 30 people gathered outside the Ponte Vista site with signs, banners and petitions, I carried a sign and passed out R-1 bumper stickers.  Thousands of cars drove past us, most with smiles, waves, thumbs up and lots of horn honking.  People pulled over to sign the R-1 petition and had words of encouragement.  We then went and stood outside a local store and set up shop to gather signatures.  Most people ignore petitions outside shops, however t...
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By Rebecca Chambliss
(Vista Sotheby's International)
There is a grass roots organization called R Neighborhoods are R-1 that has formed in San Pedro, it is 9000 persons strong and growing daily.  R Neighborhoods was formed to allow the community members of San Pedro and surrounding Rancho Palos Verdes a voice to oppose any change in zoning to the proposed Ponte Vista project.  Bob Bisno, a developer from outside the area purchased the former navy housing land for $125 million.  It was zoned R-1 when he purchased it.  Mr. Bisno has been successful getting the zoning changed in other areas for monster developments he has orchistrated.  Mr. Bisno has a history of infiltrating communities, hiring those that have been involved in the community in other ways,  (his staff consists of many former employees of Mayor Hahn).  His agenda now is to ha...
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By Rebecca Chambliss
(Vista Sotheby's International)
San Pedro is very lucky to be the home of two science centers for kids.  The marine mammal lab and the animal science center with farm animals.   Recently newly elected School Board rep for the area Richard Vludovic announced they would be closing the animal center and making changes to the marine mammal center.Los Angeles county has deep pockets (see $1 Trillion dollars in property value blog.) and it is absolutely ridiculous that these special and valuable programs can not be fully funded.Vludovic just announced they have "found" $100,000 to keep the mammal center intact but that the teachers must go from the center with farm animals.  What is a teaching program without the teachers?Teaching children to care for animals is one of the most powerful ways to prevent cruelty to animals wh...
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By Rebecca Chambliss
(Vista Sotheby's International)
The highest price ever received for a home sold in San Pedro is $2,250,000.  The beautiful remodeled Spanish style home sat right on the bluff on Paseo del Mar.  Currently there are 3 homes in San Pedro listed for over $1.5 Million:Another property located on Paseo del Mar, the historic "rock home".  It sits on 3 lots on the bluff with a main home and upper level guest quarters, several patios and a grassy yard listed for $2.8An original condition 50s home on Warmouth on a huge lot with a pool sitting on the bluff also listed for $2.8A charming cottage above Cabrillo beach with a gorgeous teak deck overlooking the big blue for $1.8These homes are higher end in San Pedro but would easily be listed for double if they were just up the coast in Rancho Palos Verdes or Palos Verdes.
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By Rebecca Chambliss
(Vista Sotheby's International)
Los Angeles is the first county in the Nation to rise about the $1 Trillion value mark for property.  What are property taxes on a trillion dollars?  About a billion dollars in new tax revenue....so who keeps saying our state and county are broke?Property values in surrounding counties have declined, Riverside, Orange and San Diego but Los Angeles County values have grown, only about 1%, but still that's growth.  California does allow for a reduction in property taxes if the overall value of property in the country has declined.Now might be a good time to start asking our local politicians for those road repairs, street tree trimmings, and more police and fire department hiring. 
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By Rebecca Chambliss
(Vista Sotheby's International)
The results are in from the San Pedro Northwest neighborhood council election.  6 board members from the Eastview Little league were running for 8 open seats.  They campaigned hard.  Not a single board member from ELL was elected.  I guess the community does not support the league to the degree that they had hoped.Neighborhood councils are meant for those who TRUELY have a interest in the community, not special interest groups who try to load the ballot to push their own agendas.I've heard the ELL will try again with the Central San Pedro Neighborhood Council, let's get out and vote and support those that are volunteering their time for the community as a whole and not just a small insignificant group.
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By Rebecca Chambliss
(Vista Sotheby's International)
As of this past April our lovely local politicians doubled the relocation fees that must be paid to tenants in order for an owner to reclaim his/her property.The Los Angeles relocation fees (including San Pedro) is now $6810 for a single person and $17,400 for tenants with minor children or anyone over age 60 or disabled.The Los Angeles City council has hurt income property owners and buyers terribly by passing this increase and has decreased the value of income property withing city limits.
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By Rebecca Chambliss
(Vista Sotheby's International)
When the Red line crosses through the Green Line.  This means that the properties sold average higher sales price than the properties listed.  Sold properties is what determines local value.Average time on market in San Pedro is 60 days with average price per square foot at an 18 month low of $391.  This probably means more lower priced homes are selling in San Pedro.  Currently there are 131 homes for sale in San Pedro, but only about 20 per month are actually being sold.   The number sold per month has held steady right around 20 for the past 18 months, so no matter how many homes are listed, buyers will continue to purchase 20.In order to be certain your property is one of the 20 that sell each month in San Pedro, it's important to:Price it right, properties that are priced to appear...
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By Rebecca Chambliss
(Vista Sotheby's International)
If you haven't gone, what are you waiting for?  Shakespear at the park on Friday and Saturday and Music on Sunday.  It's a great date activity or perfect for family fun.  Lots of available parking, it's all FREE and I'll bet you'll see some people you know.  Take advantage of some of the great things San Pedro has to offer.
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By Rebecca Chambliss
(Vista Sotheby's International)
It's taken years, but outside investors have finally discovered San Pedro.  San Pedro has always been a "local" town.  People grew up there, had kids who grew up there....it was a place at the end of the 110 freeway where everyone seemed to know everyone else, or at least knew someone that knew them. San Pedro Real Estate was very affordable compared to other Southern California beach towns....People from outside San Pedro began to discover the affordablity, the beaches, the interesting architecture, the small town vibe and started moving in. Soon after the developers who had long ignored San Pedro caught on and started buying up parcels of land.  Flash forward to today:Downtown San Pedro Development ProjectsCenter Street Lofts-116 Residential lofts with 20,000 sf ground floor retail sp...
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By Rebecca Chambliss
(Vista Sotheby's International)
You see their ads and their signs, their newspaper ad says they've sold "hundreds of Millions" of dollars of Real Estate.  You figure they must be good,  so you call them to make an appointment.Apointment day, they come with flying colors, fancy car, super confidence and promise you the world, give you testimonials and tell you how quickly and for what a high price your home will sell. Now you know why they are so successful and you sign the listing agreement.The next day the sign goes up, the assistant comes to take photos of your home and then the flyers are delivered.  One side is about your home, the other side is promoting the Realtor you hired.  It doesn't sit well with you, but you let it go.You get a call from an assistant who let's you know they will have a Broker's open one da...
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