La Cresta Neighborhood - Nov 2009 Real Estate Report

La Cresta neighborhood real estate and home sales report for Rancho Palos Verdes, CA in Novemeber 2009.

Active listings: 9 Homes are currently for sale in the La Cresta neighborhood of RPV priced from $995,000 to $2,880,000.

Pending sales: 4 Houses are in escrow priced from $949,000 to $2,699,000.

November sales: 2 Homes sold in November 2009:

• Pepper Tree Ln $945,000
• Clear Vista Dr $1,423,000
  

All La Cresta, Rancho Palos Verdes real estate and home sales reports.

Previous Palos Verdes and San Pedro Market Reports

Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800

PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.

South Bay Los Angeles cities I sell real estate, property, houses 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. Information is deemed reliable but not guaranteed.

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Palos Verdes Housing Market - 2010 Predictions

Jumbo loans are back. Can movement in the high-end luxury home market be far behind? Savvy buyers will continue to cherry-pick the best of the best deals, but with jumbo loans easier to obtain my prediction is the $2,000,000 and up homes will play an active role in the Palos Verdes real estate market in 2010.

How low will they go? The competition is fierce for prime entry-level homes in Palos Verdes. It's the location and the schools that continue to support the prices at the low end of the price spectrum. Bank-owned and short sale properties comprise a minuscule portion of the local market and therefore, have little to no impact on Palos Verdes Peninsula prices.

Super-sized homes shrink in size but grow in "greeness". Today's buyers are concerned with the environment, the economy and the day to day cost of running a McMansion. Water is a precious commodity in Southern California and conspicuous consumption of Mother Nature's resources is frowned upon. Look for desert friendly landscaping to make a return as water bills skyrocket.

Price and value will align. Seller will release their "unrealized equity gains" to the universe and price properties in line with recent sold comps in their neighborhood. Those paper gains are gone. After all, how can you lose something you never really had?

The fluidity of the market is a given, and like the undulating ocean will continue to ebb and flow based on the pull of the economy, employment and local lending environment. My parting 2009 wish: May 2010 bring small improvements for all conditions impacting the housing market.

Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800

PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.

South Bay Los Angeles cities I sell real estate, property, houses 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. Information is deemed reliable but not guaranteed.

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Palos Verdes Drive West - Real Estate Activity for 10/2009

Palos Verdes Drive West neighborhood home sales and real estate report for October 2009 in Rancho Palos Verdes, California.
Active listings: 14 Homes are currently for sale around PV Drive West priced from $1,195,000 to $7,900,000.
Pending sales: 2 Properties are currently in escrow priced from $2,800,000 to $5,199,000.
October sale: 2 Houses sold in October 2009 in the Palos Verdes Drive West neighborhood:

• Berry Hills $890,000
• Lunada Vista $2,075,000

All Palos Verdes Drive West real estate and home sales reports.
Previous Palos Verdes and San Pedro Market Reports
Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800
PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.
South Bay Los Angeles cities I sell real estate, property, houses 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. Information is deemed reliable but not guaranteed.

We'd be honored to be your agent when time to sell your Palos Verdes luxury home.

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Rolling Hills - $3M Home Sales for 2009 Year to Date - Palos Verdes CA

A remodeled home in Rolling Hills hit the market a few days ago and the list price is under $1.3M. I saw the property when it was listed at a higher price. It's not perfect, but hey, it is Rolling Hills, the gated city at the top of the Palos Verdes Peninsula. Buyers, that is a deal based on location alone! The median price of homes in Rolling Hills is over $2M.

Here's a peek at home sales over $3M in Rolling Hills for the past few years:

2009: 3

2008: 3

2007: 10

2006: 8

2005: 7

(numbers based on MLS--deemed correct but not guaranteed)

No doubt about it, sales are down and so are prices in Rolling Hills. If you're thinking of making a move to behind the gates of Rolling Hills, now is an excellent time to see if your dream home is available at a surprisingly attractive price.

Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800

PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.

South Bay Los Angeles cities I sell real estate, property, houses 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. Information is deemed reliable but not guaranteed.

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Palos Verdes Estates - $3M+ Luxury Home Sales Report 2009 YTD

The over $3,000,000 home sales have endured a sluggish couple of years on the Palos Verdes Peninsula. Chalk it up to the near extinction of jumbo loans and the economic decline. I noticed during the usually quiet dog days of summer a high end sale or two started appearing on the MLS hotsheet.

Digging a little deeper, and closing a high-end home in Palos Verdes Estates myself, encouraged me to delve a little deeper to determine whether my sale was a fluke, a stroke of good luck or a turning point in the local housing market. Here's what I found:

10 Palos Verdes Estates homes $3,000,000 and up closed escrow in 2009. 4 Homes in the price range are currently in escrow.

9 Palos Verdes Estates homes $3,000,000 and up closed escrow in 2008.

18 Palos Verdes Estates homes $3,000,000 and up closed escrow in 2007.

13 Palos Verdes Estates homes $3,000,000 and up closed escrow in 2006.

17 Palos Verdes Estates homes $3,000,000 and up closed escrow in 2005.

It appears the high-end home market in Palos Verdes Estates hit bottom in 2008, and the number of sales in 2009 will be back in the double digit zone.

Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800

PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.

South Bay Los Angeles cities I sell real estate, property, houses 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. Information is deemed reliable but not guaranteed.

Find Norma on: Facebook - Twitter - LinkedIn - Email Norma

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Portuguese Bend - Coastal Homes off of Palos Verdes Drive South

Yes, you can have an ocean view and horses in Palos Verdes. You can also live in a gated community surrounded by stunning natural beauty and enjoy one of the best climates on the Palos Verdes Peninsula. Located just off Palos Verdes Dr. South, the Portuguese Bend Club equestrian neighborhood is smaller than the gated city of Rolling Hills (and less expensive) but it, too, is graced with abundant open spaces, horse and hiking trails and spectacular views of the Pacific Ocean.

I am watching the neighborhood for a client who has kids and horses. We're hoping a four bedroom with stables and a view will come on the market in the next few months. Portuguese Bend home prices range from just under $1,000,000 to multi-million dollar equestrian compounds.

The Portuguese Bend Club has a neighborhood stable for boarding horses, riding rings and exercise areas plus miles of riding trails. The Portuguese Bend Club Horse Show is an annual event in the neighborhood.

Located on Palos Verdes Drive South between Donald Trump's golf course and Terranea Resort the Portuguese Bend neighborhood is a few minutes from recreational and fine dining options. Upon entering the gates you will find it hard to believe you are in Los Angeles County.

Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800

PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.

South Bay Los Angeles cities I sell real estate, property, houses 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. Information is deemed reliable but not guaranteed.

Find Norma on: Facebook - Twitter - LinkedIn - Email Norma

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Palos Verdes Ocean Front Homes - Pricing

If you too are wondering what's happening with coastal mega mansions during this prolonged recession, and are considering selling or buying a high-end property, here's the scoop on the luxury market on the Palos Verdes Peninsula:

42 luxury homes are for sale in Palos Verdes in the $3,000,000 and up price range.

24 of those homes are priced from $3,000,000 to $5,000,000.

18 fall into the ultra high-end of $5,000,000 and up.

Let's examine the same price range and look at sales since 2007:

61 Single Family Homes priced from $3,000,000 to $5,000,000 sold since January 1, 2007 to present.

23 of of those sales were for $5,000,000 and up.

We don't have the celebrities and movie stars of Beverly Hills and Bel Air, and our ocean front home prices are cheap compared to Malibu. This is a peninsula and we are graced with gorgeous coastline on three sides. We are also located on a hill so many more homes enjoy spectacular views from their strategic perches high above the Pacific Ocean. As a matter of fact, many people have never heard of Palos Verdes and the paradise this peninsula offers. That's the one of the things I like best. It's serene and peaceful here.

Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800

PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.

South Bay Los Angeles cities I sell real estate, property, houses 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. Information is deemed reliable but not guaranteed.

Find Norma on: Facebook - Twitter - LinkedIn - Email Norma

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Queen's Necklace View Home - Via Arriba in Palos Verdes Estates

1633 Via Arriba - Sold for $3,199,900
Buyer represented by Norma Toering RE/MAX Palos Verdes Realty

Located in Palos Verdes Estates in the Malaga Cove neighborhood and offering a spectacular view of the Queen's Necklace this home offered one level living in one of the most sought after areas of the Palos Verdes Peninsula.

I saw the buyers at a social function last weekend and they are thrilled with their new abode. However, they have an unwelcome night visitor who is wrecking their front lawn! I laughed as I listened to their story of uprooted sod and my bet is on a family of raccoons.

Palos Verdes is home to much open space and many animals share the area with the residents. If you're looking for more space, or perhaps you're ready to downsize, call Norma Toering and Team for a tour of available homes or a market evaluation of your Palos Verdes property.

It's a great place to call home.

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, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach. Information is deemed reliable but not guaranteed.

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Palos Verdes Coastal Homes with Panoramic Views

Who doesn't enjoy a drive along the coast with great views, sea breezes caressing the skin and the nostril tingling scent of ocean air? The Amalfi Coast of Italy is a memorable drive with dramatic coastal views around every clifftop curve. Pacific Coast Highway offers some breathtaking views as it snakes its way along the California coastline. The rocky coastline of Maine is another favorite view-filled drive dotted with magnificent ocean views and eye-catching coastal homes. Ahh, but a drive along the coastline and through the hills of Palos Verdes offers a variety of world class views, ocean front estates and hilltop villas with panoramic views.

If you are shopping for an unforgettable view of your own, come to Palos Verdes, CA. The Palos Verdes Peninsula is gifted with miles of coastline as the flat land of the Beach Cities (Redondo, Hermosa and Manhattan) gives way to the hills, cliffs and rocky coastline of Palos Verdes.

If you want an ocean front home, you can find it in Palos Verdes. If you want a gated estate with a panoramic view, we have that too. Whether you prefer the security of a gated community, an enclave of similar high-end homes or a low profile equestrian estate hidden amid the hills and canyons of the gated city of Rolling Hills, they are all waiting for you on the Palos Verdes Peninsula.

Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800

PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.

South Bay Los Angeles cities I sell real estate, property, houses 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. Information is deemed reliable but not guaranteed.

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What supports Palos Verdes property values?

Palos Verdes home prices range from $565,000 to $18,000,000. If you're curious to know what accounts for the price span it's location, size, condition and a few lesser nuances, but those are the Big Three determiners of value.

For instance the $565,000 property is under 1500 sq. ft., the lot is less than 6,000 sq. ft., and it is being sold AS IS with the notation it needs a little TLC.
On the other hand the $18,000,000 property is in the 10,000 sq. ft. range with a lot just under 180,000 sq. ft., with guest house, pool, panoramic view and is an equestrian estate in a gated community.
However, both homes benefit from the coastal location and the stellar reputation enjoyed by the Palos Verdes Unified School District. They each rely on their own merit for the value view, size, condition and neighborhood adds or detracts.
If you are planning a move to Palos Verdes it is important to work with an agent who is familiar with all four cities on the Palos Verdes Peninsula, the individual neighborhoods and even the best streets within a particular area. Palos Verdes offers a variety of lifestyles from country casual to cottage chic and seaside villas to equestrian estates. It's a good idea to enlist a professional to help you find the home that right for you and your family.

We'd be honored to be your agent when time to sell your Palos Verdes luxury home.

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, 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

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