Statistics for single family homes for the month of November for Palos Verdes Real Estate are now available.   To date, our prices have remained fairly steady with only 2.9% decrease in average price since January 1, 2008, compared to average 2007 sold price.  Average price per square foot since the first of the year is down 5.8% from average 2007 square foot price.  The median price has decreased 4.7% compared to 2007 median price.  2007 and 2006 both showed increased sales prices.  We are fortunate that our real estate values on the Peninsula have not been tracking the rest of the country.  Click here to read more.... 12/29/2008

"You have to spend money to make money."  We've all heard that old adage, but in a down real estate market and a slow economy it is difficult for a seller to add to the cost of sale before the sale happens.  When it comes to staging, do it anyway.    After the glaring defects (that would be leaky roof, broken window glass etc) are repaired, the cleanup and de-cluttering have taken place (and yes, a stager can help with deciding what should stay and what must go), then dressing your house for opening day is essential for showing/selling success.   A little extra effort (and yes, cash) can make a big difference in days on the market time and net in your bank account total. When you consider staging your property can impact not only your return on investment, but also your return of invest... 12/27/2008

  After hearing from an agent in Northern California that their appraisal guidelines had been changed, I called Robert Riede from the Appraisal Connection (310-768-8700) to get the latest on our appraisals here for Palos Verdes real estate.  Robert confirmed that lenders had really tightened their guidelines for appraisals with most lenders requiring at least 2 comps from the last 90 days.    Click here to read more..... 12/27/2008

I spent a couple hours cleaning up the photos on my digital camera--some I filed and some were deleted.  Some were too beautiful not to share.  Come along on a tour of the Palos Verdes Peninsula. Your invited to tag along and experience the Palos Verdes Lifestyle.  From equestrian estates to hillside villas and beach cottages Palos Verdes is filled with beautiful views and stunning topography.  A camera should always be close at hand. Los Angeles city view from Rolling Hills     Tidepools of the Pacific in Rancho Palos Verdes, California     Sandy beach and rocky coastline in Rancho Palos Verdes   Rolling Hills, California   Wayfarers Chapel in Rancho Palos Verdes     Palos Verdes Sunset Norma Toering & Team RE/MAX Palos Verdes Realty(310) 493-8333 / Office Phone: (310) 831-0800 South B... 12/26/2008

In the early 1900's , when land values dictated that Peninsula property could no longer be used for only cattle grazing, Jotham Bixby who owned the 16,000 acre Rancho de los Palos Verdes leased the land to Japanese farmers, to cultivate fruits and vegetables. Land was leased for approx. ten dollars an acre, and in the early 1900's, approx. 40 Japanese families were cultivating crops on the Peninsula. The Ishibashi family was one of the first Japanese families to farm the Peninsula.  Kumekichi Ishibashi came to San Francisco in 1895, and walked to Los Angeles. He worked as a houseboy for many years, but in 1906 leased his first farm from Bixby in 1906 at the site of the present day Trump National Golf course in Rancho Palos Verdes.  In 1910, Kumekichi brought his younger brother, Tomizo,... 12/22/2008

 Last week, the Federal Reserve cut its benchmark Federal Funds rate, the rate at which it lends funds to member banks to a target rate of zero to 1/2%. This resulted in the prime rate to be cut by most banks to 3.25%. Although mortgage rates are only indirectly affected by movement in short term rates, the reduction in the Federal Funds rate also reinforced the reduction in mortgage rates due to the previously announced Federal program to expand its purchases of securities issued by Fannie Mae and Freddie Mac.     Conforming loan rates are now down to a level not seen since the early 1960's FIXED RATES CONFORMING JUMBO       Rates Points Rates Points   30-Year Fixed Rate 4.875% 1.000 8.250% 1.000                   30-Year Fixed Rate FHA 5.375%   6.125%                     40-Year Fixed... 12/21/2008

I keep my business plan simple and limited to one page.  There is a production goal and five focus points to help me achieve the goal.  This year, along with all the usual real estate suspects to increase production and productivity, I'm making attitude my number one focus.  With the proper 'tude' in daily play everything else will fall into place.    We choose how we view the circumstances of both our professional and personal life.  What color will your 2009 glasses be?    The macro view of the housing market is not pretty, but my little micro piece of the pie will offer up some outstanding opportunities during the coming year.  I anticipate great deals on residential income properties, vacation and retirement homes, and my cash buyers are all members of my real estate royal court.  E... 12/21/2008

I never expected to be here! Los Angeles County Featured Real Estate Agent: Laurie Manny, Long Beach Homes - Long Beach Condos (Main Street Realtors Long Beach California) Score: 171018 Long Beach Long Beach real estate resource for Long Beach homes, condos and income properties for sale; market reports, buyers and sellers tips, neighborhood information and community news. Featured Real Estate Agent: Norma Toering Rolling Hills & Palos Verdes Property (REMAX Palos Verdes Realty Lic# 01147470) Score: 103695 Rolling Hills Palos Verdes Luxury Coastal Homes and Equestrian Estates are my specialty and area of expertise, but serving all your real estate needs-from the first home to the retirement retreat- is my goal.   I wrote my first blog thirteen months ago and live and work in Los Angeles... 12/18/2008

The Marine Corps Reserves picked up the Toys for Tots boxes from my office, and the toys donated by my clients joined all the other boxes in their van.  There were skateboards, balls and dolls.  There were video games and rattles---something for children of all ages. A big thank you goes out to everyone who helped put a smile on the face of a child this Christmas morning. Shall we meet again next year same time, same place?  We have a tradition of donations.  Let's try for four boxes next time! 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, Re... 12/18/2008

Throughout 2008 that was one of the most common questions I encountered from prospective buyers and sellers.  It was on the minds of consumers wanting to sell and consumers wanting to buy. The general answer is inventory is up, but not alarmingly so.  Prices are down, but not alarmingly so. The specific answer is 60 homes priced over $2,000,000 sold in Palos Verdes in 2008 year to date.   In 2007 101 homes sold in the same price range.   103 homes sold in 2006 in the same category.   2005 saw 112 sales in the $2,000,000 and up price range.   In 2004 the number of sales over 2M totaled 80.  In 2003, before the market took off for the unsustainable double digit annual increases, the number of sales in the 2M+ price range was 62. So what do the numbers tell us?  We're back to normal.  The ... 12/18/2008

The owners of the Promenade on the Peninsula shopping center in downtown Rolling Hills Estates proposed a major expansion of the center which would include the construction of 68 residential units over the two story retail stores adjacent to the parking garage, as well as the construction of an additional 30,000 square feet of retail space within the mall. The new expansion would include constructing retail stores and cafes along the front of the shopping center along Silver Spur Road and Drybank Drive. The intent of the construction of the new residential units is to create more activity and foot traffic within the center. The rendering above depicts what the proposed Promenade on the Peninsula redesign would look like. One resident who attended the joint meeting of the Rolling Hills E... 12/18/2008

  Today, I had High Tea at Trump with friends as our pre-Christmas celebration.  This is my third tea at Trump National and I have to say they are doing a better job.  Gone are the tea bags on a plate to choose from and instead there was a tray of little cannisters with bulk tea to choose from.  After sampling the aromas of their new Naja Teas, I chose "Mix & Mingle" which was an organic black tea, toasted coconut, chocolate, vanilla and roobios; it was smooth and almost creamy - very delicious. Click here to read more... 12/15/2008

   This home is one of the greatest opportunities on the hill. This is three bedroom two bath home is priced below market value with a average asking price of $508.24 a square foot. For the month of November the average sold price per square foot for the Silver Spur area was $529.00 a foot. This home is in it's original condition. It has a small, flat, private grassy backyard with a peak city and mountain view. For more details please contact Rachel. Rachelmtyndall@gmail.com www.rtyndall.com       12/12/2008

I snagged my favorite parking space at the office this morning.  A smug smile escaped my lips until I noticed there were several prime spaces available.  It seems many agents are cutting back on their hours, or worse yet, not coming in at all.  Hey, it's only December 9th.  Can you really afford to coast along in 'Hold' mode for the better part of a month?   Many sellers take their properties off the market during the holidays, and many agents take some time off too.  I'm all for vacations, but I also know there are always some December buyers, and from my experience, anyone shopping for a house during the holidays is one serious buyer.    Let's face it, many homes look their very best all dressed up for the holidays.  So unless it's absolutely necessary the house not be shown for a few... 12/10/2008

    Palos Verdes unique coastline with all its bays and coves makes for some great surfing spots.  Both of my children's friends surf and even they do not know where all the surf breaks are.  In the Fall issue of the Palos Verdes Bulletin, an article entitle "Surf Mecca" described the history of surfing in Palos Verdes and went on to name the surf breaks - Avalanche, Boneyard, Charlie's, Christmas Tree, Cove, Dominator, Exile's, Indicator, Haggarty's, Longs, Lower's, Lunada Bay, Middle's, Pinnacle, Pipe's, Rat Beach, Rat Point, Ski Jump, TA's (Tom Anderson), Turbo's and Wally's.   Click here to read more...... 12/10/2008

Last week, a report was irresponsibly leaked to the press that the Federal Resrve was considering a plan whereby they would purchase mortgage backed securities from Fannie Mae and Freddie Mac with the intention to drive interest rates on conforming loans (loans less than $417,000) down to 4.5%. There were no details released on the speculated plan, with no information given as to who who would qualify for the mortgages to be issued. There also was no confirmation of how this plan would differ from previously announced plans by the Fed to purchase securities from Fannie Mae and Freddie Mac that have lowered interest rates on conforming loans to the 5.25% range (loans from $417,000 to $625,500 are generally a quarter of a point higher).  For those borrowers who now feel that they should w... 12/08/2008

The 10th annual Palos Verdes Peninsula Holiday Parade of Lights will be held this Saturday December 6th beginning at 6:00 PM, and will run along Silver Spur Road, Deep Valley Drive and Crossfield Drive in Rolling Hills Estates. Additional information can b e obtained by phoning 310-377-1577 For more community information, visit my website at http://www.maureenmegowan.com 12/05/2008

Santa Claus will be coming to the following neighborhoods, accompanied by the Lomita Sheriffs Department announcing his arrival, from 5:30 to 9:00 pm on the following nights: Dec. 10: Rancho Palos Verdes - Dodson and Strathmore areas. Dec. 11: Rancho Palos Verdes - Caddington and Crestwood areas (Eastview). Dec. 17: Rolling Hills Estates - Dapplegray Lane and Strawberry Lane (Larga Vista Tract). Dec. 18: Rancho Palos Verdes - Mira Catalina area west of Crest Road (Vista Mesa area). Dec. 19: Rancho Palos Verdes - Seaglen, Hightide and Coolheights drives (Mediterranean area). Dec. 20: Rancho Palos Verdes - Phantom, Sea Raven, Schooner, Exultant and Admirable drives Also on December 11th, Santa will be visiting the Lunada Bay Park in Palos Verdes Estates from 4 to 6 pm. Please visit my web... 12/04/2008

The Federal Reserve announced yesterday additional plans to buy mortgage backed securities from Fannie Mae and Freddie Mac in an attempt to drive mortgage rates down to as low as 4.5% for conventional mortgages (those mortgages less than the new limit of $625,500 (previously $417,000 ). While these new low mortgage levels are great for those buyers who have a conventional job where they can provide documentation of their income by providing a W-2 tax form, the borrower who is self-employed is currently effectively shut out of the mortgage market. Self-employed borrowers used to be able to qualify for a "Stated Income" loan where they would simply provide an estimate of their annual income.  Most borrowers who are self employed utilize siginificant tax writeoffs that reduce their reporte... 12/04/2008

    Do you know what the speed limit is on Palos Verdes Estates city streets?  It seems there are changes in the air.  According to the Peninsula News, the city of Palos Verdes Estates has completed a recent survey of several streets (the last review was in 2002).  "The process for setting speed limits is regulated by the California Vehicle Code, or CVS, according to a staff report.  The CVS requires that the city perform an engineering and traffic survey and periodically readopt speed limits for each street where the city wants to use radar enforcement, according to city officials." Click here to read more....... 12/04/2008