Palos Verdes Residents Ask Where Do Our Property Tax Dollars Go?

house-for-sale2Palos Verdes Residents Ask Where Do Our Property Tax Dollars Go?

Palos Verdes residents are once again getting ready to pay their property taxes by December 10. Many buyers especially new property owners, are perplexed as to why property taxes are so high. Depending on the area where you reside, the tax usage is pretty much the same. Cities, counties and school districts rely on your property taxes to raise money for their budgets. The local government then uses the money collected to provide many public and local public services.

The local school district accounts for a significant percentage of the money from local property taxes. Although some of the monies do come from federal and state government, school districts rely heavily on the property taxes for support. Each school district varies on the local tax base.

Peninsula property owners realize that a good amount of the tax dollars goes to supporting the salaries and benefits of public safety officers. Added to that cost is the maintaining of fire stations and keeping police and fire vehicles on the road, obviously needed to keep our residents safe.

Maintaining public streets and roadways is also one of the main uses of these dollars. This maintenance helps to ensure public safety in our areas. Also included is the upkeep of street lights and traffic lights within the city limits, patching potholes and at times road maintenance to make improvement. Occasionally the dollars are used to fund improvements to water and sewer lines, storm drains and other improvements.

If you have any questions about the real estate market, or if you are interested in selling or purchasing residential or commercial property please feel free to contact me.

What is happening in the Housing Market?

What is happening in the Housing Market?

Marshallfield - front

Recently, an article in Housing Newsletters caught my eye when it was discussing the reasons that housing has room to run. In Palos Verdes and the South Bay, prices seem to be increasing or holding their own when it comes to the market. As seen in my market surveys the market is still moving forward. Here are some of the tips that the article was stating.

Rates seem to be doing more rising than falling recently. In some areas home sales have been leveling off, but that also could be because of time of year. One of the first pieces of evidence was in the form of Friday’s Consumer Price Index CPI. This important inflation report has had a big impact on interest rates in 2017. If this data suggests that the Fed needs to hike rates faster or slower, the bond markets will quickly adjust to account for the shift in expectations.

At the end of 2016 the Fed felt that they could continue to hike rates due to the strong labor market and policies associated with the new administration. However, while continuing to hike rates inflation hasn’t risen to the Feds defense. In fact, inflation is trying to hold the line.

The sharp drop to recent lows is why the rates haven’t moved higher as forecaster predicted. Actually analysts expected inflation to begin lifting off from the lows citing the impact from higher fuel prices due to the hurricane season. While they did rise abruptly, other price measurements offset the fuel effect making the reading lower than expected.

The good new about low inflation is that it does help rates. Even the stock market doesn’t mind the news. Mostly they were already drifting higher due to reports earlier in the week. In focusing only on rates, good things area happening  with the inflation data helping to reinforce a bigger ceiling around 2.4% in terms of 10 yr Treasury yield which is the most followed benchmark for longer term rates such as mortgages..

Housing magazine this past week discussed mortgage lending guidelines, which could end up being twice as loose as they are now and that could bring us back in like with historical healthy levels.This would help bring more potential buyers into the market from the guideline changes .

Another interesting piece of the report from CoreLogic was the comparison of the current housing boom/bust cycle to past examples.  In many areas prices still haven’t crested to pre-crisis levels, which means there is more room to run. This does vary from market to market, but the bottom line is that some of the price appreciation that has been seen in the past 5 years has to do with how hard we fell at the start of the crisis.

Photo courtesy of the MLS.

 

If you have any questions about the real estate market, or if you are interested in selling or purchasing residential or commercial property please feel free to contact me.

 

 

Palos Verdes 2017 Market Data Report 3rd Quarter YTD

Palos Verdes 2017 Market Data Report 3rd Quarter YTD

Marketing 3rd QtrPalos Verdes 2017 Market Data Report shows an increase in sales in all neighborhoods from 2016.

Currently, Mira Catalina has posted the largest gain in average sales price for Palos Verdes homes at 64%, followed by Monte Malaga at 37.5% and Lunada Bay at 15%. Lunada Bay posted the largest number of Palos Verdes homes sold to date in 2017 at 80, compared to 57 homes in 2016.

For more information on the Palos Verdes & Harbor Market Intelligence Report click here.

Gorgeous Country Hills Home For Lease!

Gorgeous Country Hills Home For Lease 

My new lease listing is a gorgeous remodeled 2 story home located in the desirable Country Hills community for only $3,650/month. This lovely home has 3 good size bedrooms & 3 baths with additional space for an office. Enjoy a vaulted ceiling living room with fireplace, beautiful kitchen with granite counter tops which opens to a cozy family room. All new bedroom doors and closet doors. Private back yard with a nice patio. Award winning south Torrance schools, and great restaurants and shops in Hillside Village. You can also walk to the nearby De Portola Park.

If you have any questions about the property, or you wish to schedule a showing please contact me at (310) 686-4688.

Photo courtesy of the CRMLS.

 

Palos Verdes Condo Lease Reduced!

Palos Verdes Condo Lease Reduced!

Just reduced, my condo lease listing at 3605 Hidden Lane #202, in Rolling Hills Estates. Offered now at only $2280/month, you will find that this is the best priced condo unit currently available in this area on the Multiple Listing Service.

This unit is 2 bedrooms/2 baths, and is 951 square feet. It has a remodeled kitchen and bath with newer carpet. It is located in a wonderful condominium complex, with a swimming pool, spa, tennis court and much more.

Contact me for more information at www.tubasellspv.com.

Photo courtesy of the CRMLS.

Palos Verdes Quarterly Sales Report April – June 2017

Palos Verdes Quarterly Sales Report April – June 2017

Enrose - front

Palos Verdes real estate market has increased in the first six months of the year, with sales price and average square foot prices increasing.The overall area markets seem to be feeling the same movement with interest rates still low, and first time buyers getting the sticker price shock.

RE/MAX Estate Properties has put out an actual closed sales price report for Westside sales, South Bay sales, Palos Verdes and Harbor areas sales. To read more on each of these area statistics click here.

Above is my listing at 28623 N. Enrose Ave, Rancho Palos Verdes. This gorgeous home is in move in condition with 3 bedrooms/2 baths and 1,856 square feet. it has been remodeled with an open concept floor plan and new wood flooring throughout. It features a gorgeous kitchen with granite counter tops, stainless steel appliances and a large center island. With two fireplaces, and a large formal dining room this is a perfect home for entertaining. Come by my Open House this weekend on Saturday or Sunday from 1 – 4 p.m.

 

 

Charming Rancho Palos Verdes Home Open Saturday 1:00 – 5:00 p.m.

Charming Rancho Palos Verdes Home Open Saturday 1:00 – 5:00 p.m.

Enrose - front

This charming 3 bedroom, 2 bath, 1,856 square foot home, is located at 28623 N. Enrose Avenue in Rancho Palos Verdes. It is now on the market for only $948,800,   and I’m sure will not be on the market long. This home features an open concept, a remodeled kitchen with granite counters and large center island. The house has fireplaces located in both the living room, and the family room. There is also an additional room that can be used as an office or formal dining room.

This home is close to shopping, restaurants and the freeway. It is also within the Palos Verdes award winning school system.

This beautiful home will be held open this Saturday from 1:00 – 5:00 p.m.

To see the Virtual Tour of the property click here.

For more information on this property contact Tuba Ghannadi at (310) 686-4688.

Gorgeous Palos Verdes Home for Lease!

Gorgeous Palos Verdes Home for Lease!

29132 Warnick Road,

This gorgeous Palos Verdes homes is now availabe for lease for only $4300/month. Located at 29132 Warnick Road, Rancho Palos Verdes,  in the Los Verdes neightborhood, this 4 bedroom, 2 bath, 2,247 square foot home is move in ready for it’s new family.

This home has a modern floor plan and has been nicely removated. It’s remodeled kitchen and baths have been tastefully done. It has an open floor plan and soaring vaulted ceilings, with floor to ceiling glass windows and new wide plant white oak distressed floors on the main level. There is also a newly remodeled stacked stone fireplace which adds to the comfortable style of the home plus a gigantic great room. Upstairs there is a partial ocean view from some of the bedrooms, and the master retreat has a remodeled bath.

This is definitely a perfect family home with it’s landscaped backyard and patio to relax and entertain in. It is located close to parks and the Peninsula Center.

This lovely home will definitely go fast. Please call Tuba at (310) 686-4688 for a private showing.

Palos Verdes Investors Dream Home!

Palos Verdes Investors Dream Home!

Verde Ridge Picture

Located in Rancho Palos Verdes, my new listing at 6781 Verde Ridge Road, has panoramic ocean and coastline views, and just came on the market today. This 5 bedroom, 4 bath, almost 2,800 square foot home is listed for only $1,398,000. Walking to the local park, and the elementary school is easy. Enjoy the homes formal living and dining rooms. The house has an extra large 2 car garage, views from almost all rooms, and most bedrooms have walk-in closets.You can also relax in the flat t backyard area where the views go for miles.

If you are interested in seeing this home, it will be on Broker’s Open House today (Tuesday) from 11:00 to 1:00 p.m.