Palos Verdes Peninsula, CA Real Estate News

By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
The Palos Verdes School District serves the four cities of the Palos Verdes Peninsula (Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills Estates, and Rolling Hills) as well as an unincorporated area known as Palos Verdes Peninsula. The school district currently has an enrollment of approx. 11,900 students and consists of 3 high schools (two comprehenxive high schools and one continuation school) , 3 intermediate schools (grades 6-8), 10 elementary schools, and one early childhood development center. The school district enjoys an excellent reputation, which attracts many families to the Peninsula. The schools enjoy a high parent participation rate (particularly in the two elementary schools which require parental participation in the school room). Palos Verdes Unified School Distr...
Comments 0
By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
Palos Verdes school students, prior to 1925, attended schools in Redondo Beach, which was then part of the Los Angeles City School District. A separate Palos Verdes school district was created in 1925, however it was only for grades K-8. The first school constructed, in 1926 in Malaga Cove, housed all school grades from elementary school through eighth grade,with high school students continuing to attend schools in Redondo Beach. During the construction of Malaga Cove School, students temporarily attended classes in the Gardiner Building in Malaga Cove Plaza. Classes in the Gardner Building - 1926 Malaga Cove School - 1926 (Pictures Courtesy of Palos Verdes Peninsula Library District) Palos Verdes High School was originally planned and constructed as asix year school for grades 7 throug...
Comments 1
By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
Property Taxes in California are placed as a lien on a property July 1st of each year, and are for taxes for the period 7/1 through 6/30. These taxes are due and payable by 12/15 and 4/15 of the taxable year. At closing, property taxes are either allocated to the buyer or seller depending on the date of closing and the time that the last property tax payment was made by the seller.  For instance, if a property closed on October 1st, the seller, in all probability, has not yet made the first installment of taxes for the tax year that began July 1st. Therefore, the seller would owe taxes for the period from 7/1 through 9/30, or for 3 months, or 25% of the total property tax bill. This would appear as a credit owed to the buyer on the closing statement, reducing their closing costs, and as...
Comments 0
By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
FICO Scores are a 3 digit score used by credit agencies to rate a potential borrowers credit worthiness. The FICO score was developed by Fair Isaac Company (therefore the acronym FICO) in the 1950's and has been universally adopted by the three main credit rating agencies, Equifax, Experian, and Trans Union. FICO scores range from 300 to 850. The credit rating agencies do not disclose how this score is derived, however the following factors are known to affect the score:Payment History: Does the borrower make their payments as agreed? Is there a history of late payments?Amount owed in relation to total credit available: The lower the percentage of debt balances to the total debt credit line, the better the FICO score.  Interestingly, it may be a benefit not to cancel all of your old cre...
Comments 0
By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
The early ownership of the Palos Verdes Peninsula had been disputed for many years between the Sepulveda family and the Dominquez family. In 1834, a judicial decree was made by Governor Jose Figueroa which was intended to settle the dispute between the Dominquez and Sepulveda famiies, and Juan Capistrano Sepulveda and Jose Loreto Sepulveda were awarded the 31,629 acre Rancho Palos Verdes. Figueroa also stipulated in his decree that Manuel Gutierrez may remain as a resident and free to graze his stock on the rancho for the rest of his life, providing he gave up all claim of ownership to Rancho San Pedro. The partition decree left the Dominguez family with 43,119 acres reducing Rancho San Pedro nearly by half the area of the original grant. Extent of original grant of the Rancho San Pedro...
Comments 0
By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
Many of the largest townhome projects on the Palos Verdes Peninsula are in the area between Crest Road and Hawthorne Boulevard in the center of the Palos Verdes Peninsula in Rancho Palos Verdes and Rolling Hills Estates. A number of multi-story condominium projects are also off of Ravenspur in Rancho Palos Verdes, and in the Palos Verdes Drive South area along the ocean Other smaller condominium projects are located in Lunada Bay on Palos Verdes Drive West, and in Malaga Cove in Palos Verdes Estates. The following is a list of the PV Condos & Townhomes / Townhouses  (just click on the name of each development to obtain detailed information about the project such as location, amenities, pictures, typical unit size, homeowners assoc. information, range of prices, etc. : Townhome / Townhou...
Comments 1
By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
Attention Sellers and Buyers I'm going to let you in on a real estate secret. I hate to admit it, but  pricing a property is not an exact science.   So how do we do it?    Agents (and appraisers) look at comparable sales in the same neighborhood (LOCATION),  perform a Comparative Market Analysis, evaluate price per square foot and add or subtract value based on condition. The next step is to consider current market conditions, the seller's sense of urgency, or lack thereof, and current inventory.      I've always found the most valuable asset in pricing a property is familiarity with the proof--recent sales, and the competition--current listings.  In order to know your market you must see the product.  It's good to read about it, look at photos and watch virtual tours, but if you want t...
Comments 6
By Elaine Murphy Carlson
(RE/MAX Estates Properties)
Statistics for single family homes for the month of September for Palos Verdes Real Estate are now available.  There were 31 closed escrows (30 in August) and 15 pending sales (35 in August).  Active homes for sale have remained fairly constant (276 in September) for the last 4 months and up from the same period a year ago (227 in September 2007).  Click here to read more...
Comments 0
By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
Some people spend a great deal of time seeking out properties that are in the foreclosure process. These are known as pre-foreclosure properties. The first source of information in seeking out these properties is to review local papers that publish notices of default or notices of sale. There are other services for a fee and pre-foreclosure data services which research the public records for properties for which a notice of default or a notice of sale have been recorded. Direct contact with the delinquent borrower may provide an opportunity to present an offer to purchase the property at a distressed price below market rates. If the borrower is not able to cure the delinquency during the 3 months subsequent to the initial recording of the notice of default, they may be willing to discus...
Comments 0
By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
There are several things that property owners can do in minimizing the property taxes which they pay in Los Angeles County and the South Bay. MAINTAINING YOUR EXISTING PROPERTY TAX BASIS IF YOU ARE 55 OR OLDER AND SELL YOUR PROPERTYProposition 60, passed in 1986, and modified by Proposition 90, passed in 1988, allows "qualified" individuals over the age of 55 to transfer the base year assessed valuation from a former residence ("original property") to a replacement residence, of equal or lesser value and that meet other certain conditions. Link: http://www.smcare.org/library/pdfs/Broch-Props_60-90-110_v_BG-PK.pdf which discusses this issue in detail. Effective January 1, 2007, claims must no longer be filed within 3 years, however if the claim is filed after 3 years, relief will be gran...
Comments 1
By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
The neighborhood areas as defined by the Multiple Listing Service ("MLS") for the Palos Verdes Peninsula are outlined in the map below: PALOS VERDES ESTATES (IN PINK) Lunada Bay / Margate : Area 160 Monte Malaga : Area 162 Malaga Cove: Area 163 Valmonte : Area 164 ROLLING HILLS ESTATES (IN GREEN ) AND PALOS VERDES PENINSULA (UNINCORPORATED IN YELLOW)  Palos Verdes Driive North : Area 165 ROLLING HILLS (IN PINK) : Area 166 RANCHO PALOS VERDES ( IN ORANGE ) Palos Verdes Drive East : Area 167 Mira Catalina: Area 168 Palos Verdes Drive South: Area 169 West Palos Verdes: Area 170 Country Club: Area 171 Los Verdes : Area 173 Eastview: Area 177 BOTH ROLLING HILLS ESTATES (iN GREEN) AND RANCHO PALOS VERDES ( IN ORANGE): La Cresta: Area 172 Crest: Area 174 Peninsula Center: Area 175 Silver Spur:...
Comments 0
By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
I have seen a major increase in inquiries by buyers interested in purchasing property on the Palos Verdes Peninsula. Now that prices have decreased approx. 10% from a year ago, buyers are sensing a real opportunity to purchase a home in this beautiful community. Although 30 year jumbo mortgages are effectively dead, good loans for interest rates fixed for 5 to 7 years at a rate of approx. 6% are available to well qualified buyers. Sellers are becoming very flexible in negotiating a sale, recognizing that we are entering the traditionally slow time to sell a property as we enter the holiday season. There is normally a decrease in inventory available at this time of year due to sellers not wanting to show their property during the holidays, so those sellers who have theri property on the ...
Comments 0
By Elaine Murphy Carlson
(RE/MAX Estates Properties)
Tuesday there 21 homes on the Palos Verdes Real Estate Broker's Tour.  We currently have 282 active single family homes for sale in Palos Verdesranging in price from $785,000 in Rancho Palos Verdes ($619,000 in Eastview) to $18,900,000 in Rolling Hills.  There are 64 townhomes/condos for sale priced between $270,000 and $2,000,000.   My favorites today are:      Click here to read more...
Comments 1
By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
It was late December 1988.  My family and I lived in a gorgeous 1920s home in the Old Northeast section of St. Petersburg, Florida.  My four children were happily ensconced in a top rated private school. I was one of the founding member of the Ballet Society, and life was humming along in the happy lane.  Naturally, it was time to move. I was a reluctant house hunter. I thought Los Angeles was a fun place to visit, not to live.  As the jet approached the Los Angeles area the night I arrived, I was struck by how immense the area is.  I wondered how I would find the right schools, the right neighborhood and the right house to begin the California chapter of our lives. I had 3 Absolutely Must Haves: 1.  CLEAN AIR - Don't laugh, I thought it would be impossible to find, but with a child wit...
Comments 9
By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
There will be a free flu shot clinic at the United Methodist Church 26438 Crenshaw Blvd in Rolling Hills Estates ( at the corner of Crenshaw and Palos Verdes Drive North ) on November 13, 2008 from 10:00 am to 12 noon. The clinic is run by the County of Los Angeles and is free for those over 50 years of age and 18 or under in age. For information call (310) 377-0742 . For other information about the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com   
Comments 0
By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
On my website http://www.maureenmegowan.com I have a page with a lot of interesting pictures of Weird Houses of the World    .  The following are some examples of the homes which can be viewed there:                                                                                   Broken House                                                                                                     Nightmare House                                                                                                       Shoe House                                             For more interesting facts and information about buying a home in the South Bay or the Palos Verdes peninsula, visit my website at http://www.maureenmegowan.com
Comments 0
By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
I recently joined the Point Vicente (Palos Verdes ) Chapter of the California Society of Daughters of the American Revolution (see http://www.californiadar.org/chapters2/pointvicente/index.htm  ). My grandmother had traced our family lineage back to Governor William Bradford, Governor of the Plymouth Colony who was on the original trip of the Mayflower to the New World. My ancestor who fought in the Revolutionary War was Israel Ballard. My husband Bruce also had a direct ancestor ( Robert Megowan) who was quartermaster at Valley Forge under General Washington during the Revolutionary War. For other information about buying or selling real estate in the South Bay or Palos Verdes Peninsula, visit my webstie at http://www.maureenmegowan.com/  
Comments 0
By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
Right after I push the post button on this blog, I'm going to take a long bath and recover from another slow day in real estate. It was so slow I showed seven houses to qualified buyers who believe now is the time to purchase a home in Palos Verdes.  It was so slow I had time to meet and discuss listing a fabulous view house with clients.  We've done four transactions over the years and they believe the time is right to do another one.  It was so slow I had time to correspond with a client and orchestrate a show list for next week. It will be an all day affair because her husband has a new job in the area and they need a house.  It was so slow I had plenty of time to check the file due to close escrow next week. Yes, homes are selling in Palos Verdes.  My clients are thrilled with their...
Comments 34
By James Engel
(KW Commercial Beverly Hills)
Don't hide your head from the upcoming months; it can still seem like summer when you visit the Farmers' Market. The Palos Verdes Farmers' Market is a great place to get the produce you need to make the recipe I've attached to this posting, Spinach and Mandarin Orange Salad! What a wonderful and light salad, even for lunch, just leave the dressing separate. Now, where to get the ingredients, that's right, the Palos Verdes Farmers Market of course!   Name: Palos Verdes-Rolling Hills Estates Farmers' Market Day: Sunday Hours: 9:00 AM to 1:00 PM Location: Peninsula Shopping Center City: Rolling Hills Estates   Manager: Brian Weiss Office Address: 18635 S. Budlong Ave., Gardena, CA 90247 Phone: 310-324-3994 Peninsula Shopping Center, Hawthorne Blvd at Silver Spur Road           Spinach and...
Comments 0
By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
My husband, Bruce loves to play golf and has given me the following critiques of the golf courses on the Palos Verdes Peninsula: TRUMP NATIONAL GOLF CLUB Critique: This golf course gives meaning to the golf saying "A good walk spoiled".  For the average golfer, this course is extremely frustrating, so bring a lot of balls. Most golfers will lose 6 to 10 balls a round. The problem is that because the fairways terrace down towards the ocean, each of the fairways on most of the holes to the south of the clubhouse are bordered by a slope, vegetated by natural shrubbery, where it is illegal to try and retrieve your ball or play out of the shrubs because the slopes are environmentally protected. Therefore, if you are off the fairway, you have probably lost a ball. The course is spectacular to...
Comments 0