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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)
Here's a quick snapshot view of listings, escrows and sales in Palos Verdes Estates, CA 90274 for the month of February 2009:   Lunada Bay: Active Listings:  38 Single Family Homes are currently listed for sale priced from $949,000 to $5,999,900. Pending Sales:  2 Single Family Homes are in escrow priced at $1.075,000 and $1,695,000. February Sales:  1 Single Family Home closed escrow at $1,180,000.     Monte Malaga: Active Listings:  21 Single Family Homes priced from $1,265,000 to $12,000,000. Pending Sales:  4 Single Family Homes are in escrow priced from $1,795,000 to $4,788,000. February Sales:  1 Single Family Home closed escrow at $1,510,000.     Malaga Cove:  Active Listings:  20 Single Family Homes are currently for sale priced from $1,295,000 to $4,999,000. Pending Sales:  2 S...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
There is an article from the Los Angeles times today warning of significant new loan fees and higher interest rates for conventional loans to be made through Fannie Mae and Feddie Mac beginning April 1st. GNMA, which purchases VA loans and FHA insured mortgages has also announced that they will be making similar adjustments in pricing.   These new fees and increased interest rates could have a significant effect for many buyers with FICO scores of less than 740. Buyers of a condo with less than a 25% down payment will pay a 3/4 of a percent higher interest rate on their loan regardless of their credit score.   For those of you who have been considering buying a property to take advantage of the significant price reductions and the historically low interest rates today, I would strongly ...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
The tiles that used to be on the exterior of the Lunada Bay Fountain, that were carefully removed during the fountain's recent renovation are available for purchase. Each tile is $5 and may be purchased at the public counter of the Palos Verdes Estates City Hall.   For more information about Palos Verdes Estates Real Estate  visit my website at http://www.maureenmegowan.com
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
The City of Palos Verdes Estates is comprised of four distinct areas:  Lunada Bay, Monte Malaga, Malaga Cove and Valmonte.  The real estate activity for the month of January 09 is listed below by neighborhood. Lunada Bay: Active Listings: 34 Homes are listed for sale priced from $999,000 to $5,999,900 Pending Sales:  1 Property is currently in escrow listed for $1,298,000 January Sales:  1 home closed escrow for $1,819,000         Monte Malaga: Active Listings:  20 Properties are listed for sale priced from $1,429,900 to $12,999,000 Pending Sales:  4 Homes are in escrow priced from $1.598,000 to $1,950,000 January Sales:  2 Properties closed escrow priced at $1,030,000 and $1,300,000           Malaga Cove: Active Listings:  15 Homes are listed for sale priced from $1,295,000 to $5,999,0...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
This is a super easy soup recipe that I enjoyed on BUNKO night at a friend's home this week. Everyone loved it and she sent the recipe to us all. It is essentially a one dish meal. A salad makes a perfect companion,  and a roll if you like. The flavors are simple if you use mild sausage, but I will make it with hot!  Give it your own name...it came nameless!  8 ounces hot or sweet turkey Italian sausage 2 cups fat-free, less -sodium broth 1 (14.5 ounce) can diced tomatoes with basil, garlic and oregano 1/2 cups uncooked penne or small shell pasta 2 cups bagged baby spinach leaves 2 tablespoons grated fresh parmesan cheese 2 tablespoons chopped fresh basil  Heat a large saucepan over medium heat.  Remove casing from sausage.  Add sausage to pan, and cook about 5 minutes or until browned,...
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By Rachel Martiens and Kathy Tyndall = The Tyndall Team, Love Living In The South Bay
(RE/MAX ESTATE PROPERTIES)
     There are currently four homes for sale on Rocky Point Road   in the  Palos Verdes Estates area of Los Angeles. Rocky Point Road is located in the Lunada Bay  neighborhood of Palos Verdes Estates.  For those of you who are new to the area you can find this street by taking Palos Verdes Drive West south then taking a right on Yarmouth  past Paseo Del Mar  and you will come to Rocky Point Road. Rocky Point Road is unique because it is located on the bluff. For those who you who surf this is the perfect palce for you. There are three homes on the bluff side currently for sale on Rocky Point Road and one on the none view side. The homes for sale are as follows: 208 ROCKY POINT ROAD 3/3 2,418 SQUARE FEET LISTED FOR $2,195,000 209 ROCKY POINT ROAD 3/3 2,720 SQUARE FEET LISTED FOR $3,295,...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
The new Stimulus Bill Currently being debated in the senate may contain several items of significant benefit to the housing industry. Last night, the Lieberman/Isakson Amendment was included in the senate version of the Economic Stimulus Bill by a unanimous voice vote. This amendment would provide a Tax Credit to all home buyers at the rate of 10% of the sales price up to a limit of $15,000. The credit would be available for a one year period to all purchasers of primary residences. This would be a significant improvement over the current $7,500 tax credit that is limited only to first time home buyers, but which must be repaid over a 15 year period. In addition, a proposal has also been made to provide 30 year fixed rate financing at a fixed rate of 4%. Details on both of these proposa...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
The Palos Verdes Swim Club was completed in 1930 by the original developers of the Palos Verdes Project. The Swim Club was renamed the Roessler Pool, in honor of Fred Roessler, mayor of Palos Verdes Estates for 25 years and who was instrumental in the formation of the city of Palos Verdes Estates in 1939. The original Swim Club utilized recirculated ocean water. Swim Club under construction (Picture Courtesy of Palos Verdes Peninsula Library District)The Swim Club was completely refurbished in 1992 after the City, in 1988,had seriously considered demolishing the Club, which had fallen into disrepair. A group of citizens proposed selling memberships to raise capital to remodel the Club, and the Club was reopened in 1992 as the Palos Verdes Beach & Athletic Club. City residents may use th...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
  The following are general levels of interest rates for various loan terms for both conforming and Jumbo loans as provided by Michael Cordova: michaelc@milestonemtg.com January 29, 2009     FIXED RATES CONFORMING JUMBO       Rates Points Rates Points   30-Year Fixed Rate 5.125% 1.000 6.625% 1.000                   30-Year Fixed Rate FHA 5.625%   6.750%                     HYBRID ARMS                           5/1 ARM 4.625% 1.000 6.250% 1.000                   7/1 ARM 5.500% 1.000 6.625% 1.000                   10/1 ARM 5.750% 1.000   1.000                       INTEREST ONLY Rates Points Rates Points   HYBRID ARMS                         5/1 ARM 5.000% 1.000 6.875% 1.000                   7/1 ARM 5.750% 1.000   1.000                   10/1 ARM 5.875% 1.000   1.000             For more...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
As I went out to get the morning paper today, I saw something that absolutely shocked me!!! Across the street were two teenage boys picking up small pieces of litter and putting it in buckets that they were carrying!!!  I went over to them and asked them if they were working on a boy scout project or something, and they just simply said no, that they enjoyed picking up any litter that they saw on the street. The boys live down the street in Lunada Bay in Palos Verdes Estates. They were Steven(13 years old) and Sean(11 years old), and I was just blown away that two boys this age actually would do something as thoughtful as picking up litter in the neighborhood. It absolutely made my day!!!!
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
The Valmonte neighborhood in Palos Verdes Estatesstraddles Palos Verdes Drive North and enjoys easy access to both Redondo Beach and Torrance. 2008 statistical summary for the Valmonte neighborhood: Active Listings:  11 homes were for sale at the close of 2008 priced from $958,000 to $3,490,000. Pending Sales:  4 homes were in escrow at the close of last year priced from $850,000 to $2,495,000. 2008 Sales:  25 Valmonte single family homes sold in 2008 priced from $900,000 to $2,250,000.   If you have questions about the Valmonte area, I'm a quick phone call or email (NormaToering@gmail.com) away. 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, property, houses and homes in: Palos Verdes Estates...
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
The Malaga Cove area in Palos Verdes Estates was one of the first neighborhoods established on the Palos Verdes Peninsula.  The area is graced with many Old Spanish style residences and sprinkled with newer Mediterranean style homes and a variety of other architectural styles.  The location offers resort style living with the convenience of urban amenities jut minutes away. 2008 real estate update for Malaga Cove: Active Listings:  10 Single Family Homes were for sale at the close of 2008 priced from $1,295,000 to $5,999,000. Pending Sales:  3 Properties were in escrow at year's end priced from $1,399,500 to $2,495,000. 2008 Sales:  10 Single Family Homes sold priced from $1,635,000 to $5,150,000.   Not only does Malaga Cove have wonderful homes, schools and climate, the photo above was...
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
The Monte Malaga neighborhood of Palos Verdes Estates is home to sprawling mansions and cliffside bungalows.  Red tile roofs dot the hillsides and the expansive blue of the ocean meets the glittering lights of the coastline.  It is a breathtaking sight from the top of the Palos Verdes Peninsula. Monte Malaga 2008 real estate statistics: Active Listings:  15 homes were for sale at the end of 2008 priced from $1,695,000 to $7,900,000. Pending Sales:  6 homes were in escrow priced from $1,075,000 to $2,299,000. 2008 Sales:  17 Single Family Homes in Monte Malaga sold in 2008 priced from $999,000 to $6,750,000. Whether you are selling or buying a Monte Malaga home, it would be my pleasure to welcome you to the neighborhood and help you achieve your real estate goals in 2009. Norma Toering &...
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
The Lunada Bay neighborhood in Palos Verdes Estates on the Palos Verdes Peninsula hugs the coastline and offers many spectacular views to its residents.  There are beaches, coves, cliffs and a plethora of other stunning natural vistas that will capture your heart.  It is a scenic wonderland and a great place to call "home." Lunada Bay closed out 2008 with the following statistics: Active Listings:  24 Single Family Homes were on the market at the close of 2008 priced from $999,000 to $5,999,900. Pending Sales:  3 Single Family Homes were in escrow priced from $1,895,000 to $3,399,000. 2008 Solds:  35 Single Family Lunada Bay Homes sold in 2008 priced from $925,000 to $5,000,000. Call Norma Toering & Team for more information on Lunada Bay homes.  310.493.8333 or NormaToering@gmail.com N...
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By Mary Thomas BH,MB,HB, PV, Estates LA+, Mary C. Thomas Your Agent around the Globe
( Remax Estates Properties)
It looks like Palos Verdes Estates homes priced from $1,000,000.00 to $3,999,999.00 have shown a slight drop per square foot from 2007-2009 Statistics. Prices ranged from $621.00 per square foot to $521.00 sq.ft. with last month closing at $785.00 per sq. ft. I have a handful of Bank Owned Properties on the Peninsula and even more great buys in the South Bay. I noticed that this month my large down (40-50% Down ) Buyers are starting to grab up the good deals. Short sale lenders are dropping their prices and willing to forgive 250,000 or more on loans against most property in Torrance, Gardena, Redondo Beach, Lomita, Gardena and Carson. The Lenders are making deals with their distressed Sellers and reduce loan prices, finally. See the chart below from our Remax Trend Graphics for all of ...
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By Rachel Martiens and Kathy Tyndall = The Tyndall Team, Love Living In The South Bay
(RE/MAX ESTATE PROPERTIES)
Did you know that PVE residents are eligible to apply for membership in the Palos Verdes Country Club, a prestigious golf course, as well as the Palos Verdes Beach Club, a private 1920's luxury beach club.  Membership waiting lists are long and there are fees, but this is still considered a highly desirable amenity that makes many people choose PVE over the other three Peninsula cities. You can also buy a daily pass to the Beach Club which allows you to use the pool and fitness room. For more details about Palos Verdes contact: RachelMTyndall@gmail.com www.thepvrealtor.com www.rtyndall.com  
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
A new store calling itself "Pet Foods Market & Supplies" has opened at 716 Yarmouth Road in the Lunada Bay Plaza Shopping Area of Palos Verdes Estates. The owner, Livia Varsanyi, can be contacted at 310-377-1616. The store is well stocked with moderate to high end food for cats and dogs, and includes a large assortment of dog and cat toys as well as other pet supplies. The owner lets her dog have the run of the store, and welcomes other dogs and their owners to come visit. She even has supplied a nice rest stop outside with comfortable chairs to sit and visit. For more information about Lunada Bay and Palos Verdes Estates, visit my website at http://www.maureenmegowan.com
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
The Valmonte area of Palos Verdes Estates had the following real estate market activity during the 4th Quarter of 2008: Properties Sold:  4 Properties for Sale as of 12/31/08:  12 Average List Price at 12/31/08:  $1.8 million Average Sales Price of homes sold during 4th quarter: $1.2 million Average Price per Sq. Ft. for Properties Sold during 4th Qtr:   $ 709 per sq. ft. Properties sold at an average of 98% of List Price   For more information about Valmonte and Properties for Sale on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
  The Malaga Cove area of Palos Verdes Estates had the following real estate market activity during the 4th Quarter of 2008: Properties Sold:  2 Properties for Sale as of 12/31/08:  11 Average List Price at 12/31/08:  $2.8 million Average Sales Price of homes sold during 4th quarter: $2.3 million Average Price per Sq. Ft. for Properties Sold during 4th Qtr:   $ 613 per sq. ft. For more information about Malaga Cove and Properties for Sale on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
The Monte Malaga area of Palos Verdes Estates had the following real estate market activity during the 4th Quarter of 2008: Properties Sold:  2 Properties for Sale as of 12/31/08:  16 Average List Price at 12/31/08:  $4.6 million Average Sales Price of homes sold during 4th quarter: $2.1 million Average Price per Sq. Ft. for Properties Sold during 4th Qtr:   $ 508 per sq. ft. For more information about Monte Malaga and Properties for Sale on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com
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