Palos Verdes Neighborhoods Sales 2017

Palos Verdes Neighborhoods Sales 2017

Wolf connect year end 2017

Palos Verdes home sales for the year 2017 were 684, a slight decrease from the 692 homes that sold in 2016. The Lunada Bay/Margate area posted the highest number of homes sold in 2017. They had 71 sales, down from the 73 that were sold in 2016. The area of Monte Malaga had the highest gain in their home sales with 42 in 2017 and only 27 in 2016. Valmonte showed greater home sales with 52 sold in 2017, up from the 39 homes that sold in 2016, and Palos Verde Drive East showed 63 homes sold in 2017 and only 54 in 2016. The areas of Mira Catalina, Country Club, Peninsula Center and Silver Spur showed some gains in the number of homes sales, while Los Verdes showed the same 52 for both years. All of the other neighborhoods had a decrease in their sale numbers from the year 2016.

The chart above is courtesy of RE/MAX Estate Properties. For a larger view just click on it.


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

South Bay Fourth Quarter Sales Summary

South Bay Fourth Quarter Sales Summary

2017 4th qtr summary - remax_002

South Bay real estate sales for the fourth quarter showed great closing numbers for the many cities. El Segundo showed 38 closed sales, Gardena showed 122, Hawthorne showed 101, Hermosa Beach showed 51, Lawndale showed 42, Lomita showed 34, Manhattan Beach showed 89, Redondo Beach showed 188 and Torrance showed 259 closed sales.

To read more about the comparisons between October 2016 to December 2017, or for the average price per foot, number of homes for sale in this quarter, pending sales or days on market, go to the RE/MAX Market Intelligence Report listed below.

For more information on the RE/MAX South Bay Market Intelligence Report click here.

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

Do Palos Verdes Staged Homes Sell Faster?

Do Palos Verdes Staged Homes Sell Faster?

Home for sale_003
Palos Verdes homes owners are asking the question does Home Staging sell my home faster? The Real Estate Staging Association has said in the past that those homes professional staged usually sold in half the time as those not staged. They actualy believe that staging your home increases the dollar value that buyers are willing to offer.

Home staging seems to be more appealing to buyers since it shows more of the potential of a home. Whether it be inclusive of such tasks as painting, staining or just adding color to a room by decorating, that fresh appearance makes buyers visualize the potential in the home.

The most important rooms that are usually staged are the living room, kitchen, dining room, master & children’s bedrooms and bathroom. Staged homes are generally decluttered and have a way of showing the most positive attributes of the room. It’s been said that most buyers seem to form some sort of opinion about a home within the first 10 seconds of arriving. Since buyers seem to be previewing homes on the internet, it is important that the homes staged photography will help make that first strong impression.

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 Market Data Report for 2017

RE/MAX Estate Properties Palos Verdes Market Report is out for the year 2017, and we will be discussing the results of the report within the next few days. The Market Data Report shows the number of single family residents properties that have sold and what the average price ranges are. Some of the information that we will be covering are the number of units sold, average square foot range, price range, average price comparisons (2016-2017) and average price per square foot.

The neighborhoods that we will be covering are: Lunada Bay/Margate, Monte Malaga, Malaga Cove, Valmonte, PV Drive North, Rolling Hills, PV Drive East, Mira Catalina, PV Drive South, West Palos Verdes, Country Club, La Cresta, Los Verdes, Crest, Peninsula Center, Silver Spur and Eastview/RPV.

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.

Marketing Report -remax - fourth quarter 2017

South Bay Real Estate November Sales Report

South Bay Real Estate November Sales Report
RE-MAX South Bay november

South Bay real estate sales for November showed great closing numbers for the many cities. In November, El Segundo showed 12 closed sales, Gardena showed 39, Hawthorne showed 27, Hermosa Beach showed 18, Lawndale showed 17, Lomita showed 9, Manhattan Beach showed 35, Redondo Beach showed 65 and Torrance showed 89 closed sales.

To read more about the comparisons between November 2016 to November 2017, or for the average price per foot, number of homes for sale in November, pending sales or days on market, go to the Market Intelligence Report listed below.

For more information on the RE/MAX South Bay Market Intelligence Report click here.

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

Palos Verdes Real Estate November Sales

Palos Verdes Real Estate November Sales

Re-max december chart

Palos Verdes Peninsula real estate sales for November showed a bit of slowing from the month before, but they have proven that the market is still showing a continuing high demand for Palos Verdes homes. During the month of November there were 39 closed transactions. The sold home prices for the month were from $980,000 for a 3 bedroom, 2 bath, 1,643 square foot home, to a 7 bedroom, 8 bath, 5,300 square foot single family home for $4,950,000. The average price of homes sold in November was $1,794,513.

Currently, there are 146 single family homes for sale in the 160-177 MLS areas, and 21 condo/townhomes for sale.

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

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.

Aboutpv – What Makes Palos Verdes Residents Love Their Neighborhoods?

Aboutpv – What Makes Palos Verdes Residents Love Their Neighborhoods?

house for sale

Palos Verdes residents all live in one of 17 different Multiple Listing Service real estate areas. After reading an article published by Trulia called “What will make you fall even deeper in love with your neighborhood”, I realized that all of these different areas have something unique or special about them that made them your choice. The article brought up the fact that when purchasing or leasing a new home, you have to remember that you are becoming part of that neighborhood, and although they are not always equal, you have to find the aspects of a prospective neighborhood that closely matches your daily needs.
Below is the list of common components that were mentioned:
1. Lifestyle match
2. Pride in ownership
3. Low Crime Rate
4. Great Schools
5. Outdoor activities abound
6. Stepping back in time.
7. Family friendly
8. Close to public transportation
9. Nearby shopping & restaurants
10. Nightlife and entertainment
11. Walking ability
As you can see from the above list, there are unique components listed that in your desired neighborhood. Whether it be the school system, horse property, hiking areas or just wanting to be in a safe neighborhood, I feel you can find it here.

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.