Tuesday, August 23, 2016

Where in the World is Palos Verdes?

The Palos Verdes Peninsula is located in southern Los Angeles County in California, USA. The peninsula rises above the surrounding city earning it the local nickname of "The Hill." With the beautiful Pacific Ocean to the west and south, Palos Verdes is also adjacent to the South Bay cities of Torrance, Lomita and San Pedro. The "Beach Cities" of the South Bay are also nearby to the north including Redondo Beach, Hermosa Beach and Manhattan Beach. Palos Verdes has close access to the 405 Freeway and the 110 Freeway connecting to most freeways in the Los Angeles and Orange County areas.

As Los Angeles grew up in the era of the personal automobile, most residents track the distance to nearby CA events and locations by the common phrase; "How long does it take to drive there?" Palos Verdes is no different.  We rarely mention the distance to our destination, only the time required to arrive.

Palos Verdes' driving times to local landmarks:
Los Angeles International Airport (LAX): 16.2 mi – about 28 mins
Long Beach Airport:20.1 mi – about 30 minsDowntown Los Angeles: 24.7 mi – about 34 mins (up to 55 mins in traffic)
Downtown Long Beach:12.5 mi – about 22 mins
Beverly Hills: 26.7 mi – about 40 mins (up to 1 hour 40 mins in traffic)
Promenade on the Peninsula: located in Peninsula Center off Silver Spur in Palos Verdes
Peninsula Center Shopping Center: located in Peninsula Center off Silver Spur in Palos Verdes
Del Amo Fashion Center Mall: 3.8 mi – about 10 mins
South Bay Galleria Mall: 6.5 mi – about 16 mins
The Pike in Long Beach: 12.2 mi – about 22 mins
Fashion Island in Newport Beach: 42.3 mi – about 50 mins
The Grove in Los Angeles: 28.0 mi – about 43 mins (up to 1 hour 40 mins in traffic)
Hollywood & Highland: 30.7 mi – about 40 mins (up to 1 hour 20 mins in traffic)
Palos Verdes Unified School District: Located on the Palos Verdes Peninsula. 
Marymount College: located in Rancho Palos VerdesUniversity of California LA: 24.9 mi – about 37 mins (up to 1 hour 30 mins in traffic)
USC:26.1 mi – about 34 mins (up to 45 mins in traffic)
California State University at Long Beach: 22.4 mi – about 31 mins
California State University at Domingez Hills: 13.4 mi – about 22 mins
University of California at Irvine: 39.5 mi – about 48 mins
Loyola Marymount University: 18.1 mi – about 33 mins
Marinas and Ports
Port of Los Angeles: 7.8 mi – about 19 mins
Cabrillo Marina: 8.3 mi – about 19 mins
Redondo Beach Marina: 6.9 mi – about 16 mins
Torrance Beach: 4.4 mi – about 11 mins
Hermosa Beach: 7.9 mi – about 18 mins
Manhattan Beach: 9.3 mi – about 21 mins
Newport Beach: 41.2 mi – about 49 mins
Laguna Beach: 52.4 mi – about 1 hour 3 mins
Malibu: 41.7 mi – about 59 mins (up to 1 hour 50 mins in traffic)
Skiing and Mountain Activities 
Big Bear Mountain: 117 mi – about 2 hours 23 mins
Mammoth Mountain: 335 mi – about 6 hours 27 mins
Amusement Parks 
Disneyland: 33.3 mi – about 40 mins (up to 50 mins in traffic)
Knott's Berry Farm: 27.9 mi – about 36 mins (up to 45 mins in traffic)
Six Flags Magic Mountain: 54.6 mi – about 1 hour 6 mins (up to 2 hours 40 mins in traffic)
Legoland: 90.7 mi – about 1 hour 34 mins
Sea World San Diego: 119 mi – about 2 hours 0 mins
Driving times will vary depending on current traffic conditions and the location in Palos Verdes you begin your trip. These times were calculated with Google Map's driving directions from the Palos Verdes zip codes of 90274 or 90275. Based on my experience, they are fairly accurate, until "rush hour" or an accident intervenes.   :)

Want more information about the Palos Verdes Peninsula?  Contact Norma Toering at 310.493.8333 or NormaToering@gmail.com

Monday, August 8, 2016

Palos Verdes Luxury Coastal Homes Market Report--August 2016

It's not too late to catch the wave!
It's not too late to catch the wave!

August is often accompanied by a slowing of the real estate market.  After all, it is the last month of summer vacation, and the back-to-school rush is upon us as well.  It is no surprise house hunting often falls lower on the priority list. However, it is not too late to catch the strong real estate market wave Palos Verdes continues to enjoy.

The luxury market is defined (by me) as those homes priced at or above $3,000,000.  At the current time, properties in the luxury price range comprise nearly one-fourth of all single-family homes listed for sale in Palos Verdes.

Palos Verdes Luxury Homes Currently For Sale:  57 Single-family Palos Verdes luxury homes are listed for sale priced at or above $3,000,000.
Palos Verdes Luxury Homes Pending Sales:  14 Palos Verdes luxury homes are in escrow with accepted offers.
Palos Verdes Luxury Home Sales for July 2016: Six Palos Verdes luxury homes closed escrow during the month of July.
Palos Verdes Luxury Home Sale Year-To-Date:  36 as of August 1, 2016.
There are 241 single-family homes currently for sale on the Palos Verdes Peninsula.
Market Trends:  Inventory is increasing, and appreciation is slowing in the general market.  The raging seller's market of years past is cooling as the local Palos Verdes real estate market moves to a neutral market.  The higher prices are a factor in slowing the pace of the market, but attractive interest rates continue to fuel buyers' desire to purchase a home and lock in a rate below 4%.

There is no question the market is becoming more competitive for sellers.  Make sure your property is positioned to compete and win the purchase contract.  The location is still key, but condition and pricing play important roles in the sale of any property.

Selling or buying a Palos Verdes coastal home?  Contact me at 310.493.8333 to help you accomplish your real estate goals.