• I just asked my grandchild what to say on twitter and she said…”Stop following me” I say thank you for following. #
• another day holding open REO in 90505 Torrance Ca. one of only 2 Bank Owned in the whole zip code. great location #

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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.

The article identifies Ski Jump and Boneyard as being located at Bluff Cove.  “Bluff Cove was the first to be regularly surfed followed by Haggarty’s and Lunada Bay.”  A few of the breaks are shown on the map provided by Matt Waters at Rancho Palos Verdes Parks and Recreation Department and can be accessed by clicking here to view my prior post on Bays and Coves. 

Surfing is big in Palos Verdes; both our high schools have surf teams and several world class surfers came from this area.  I could not find all the breaks mentioned above for my son’s friends (although they know quite a few) so it will be like a treasure hunt for them to identify and surf them all.

another day holding open REO in 90505 Torrance Ca. one of only 2 Bank Owned in the whole zip code. great location

I just asked my grandchild what to say on twitter and she said…”Stop following me” I say thank you for following.

Serious shoppers see the value in the Pre Christmas purchases. The tax write off is just a fraction of the goodies in December. The interest rate is at a rare new price, along with gasoline at 2.17 per gallon. FHA loans are still the workhorse loan 85% of people are using. It just beat out a credit union last week said one lender.

Bank owned. It is a crowd drawing magnet. Its also like a zoo. People want to see the animal and are not quite sure what kind it is. It looks like a deal but is it? Beauty is always in the eye of the beholder. The question people could ask…is and always should be what are the average sale prices in the area. Only then will they know if this has value or not. In many cases the property in our area is a great location and is in disrepair in one way or another. Deferred maintenance is usually part of the issue. Buyers must really get a thorough inspection on any house. They have to be prepared to do some work on the bank owned property as a rule.

Happy Shopping!

Yesterday, there were 11 homes on the Palos Verdes Real Estate Broker’s Tour.  We currently have 258 active single family homes for sale in Palos Verdes ranging in price from $749,000 in Rancho Palos Verdes to $18,900,000 in Rolling Hills (the low in Eastview is $619,000).  There are 69 townhomes/condos for sale priced between $249,900 and $2,000,000.  My favorites were:

Lisa Hawk’s 43 Misty Acres, Rolling Hills Estates, (above left) is a 4 bedroom, 4 bath, 2,881 square foot home for $1,719,000.  This single level home located in The Ranch (gated community) has a bright open floor plan, pool, and gazebo on a large flat 21,280 square foot lot.  Katie Muck and Vicki Longley’s 805 Via Conejo, Palos Verdes Estates, (above right) is a 3 bedroom, 2 bath, 2,030 square foot home for $1,399,500.   This Malaga Cove classic has the coveted Queen’s Necklace View and is ready to be personalized by a new owner.

Sandra Allbee’s 28619 Golden Meadow Drive, Rancho Palos Verdes, (above left) is a 5 bedroom, 3 bath, 3,278 square foot home for $1,498,000.  This Los Verdes home has an open floor plan, an upstairs master retreat, and an ocean view.  Frank Kenny’s 28920 Northbay Road, Rancho Palos Verdes, (above right) is a 5 bedroom, 4 bath, 2,346 square foot home for $1,100,000.  This Crest home has a remodeled kitchen, separate spa room, and 3 car garage.

Photos courtesy of MRMLS

We are starting to see more and more green home building which is such a wonderful trend for our planet.  I ran across this video of a smart home designed by a California woman and the home is at a museum for people to go look and and get ideas from.  Have a look and maybe you can get some ideas for your own home.

http://link.brightcove.com/services/link/bcpid2647830001/bctid2649597001 

Investigating the Hollywood Riviera real estate market?  Here’s an update for you.

As of September 1, 2008, there have been 21 homes sold.  That is much higher than this time last year when 15 homes sold during that same period.  That’s a nice little 28% increase in the number of homes sold!  Good news at last!  Homes that are priced well are seeming to go into escrow quickly still.  For example one on Via Monte D’Oro recently went on the market for $1,199,000 (under $1.2K seems to get a lot more attention these days) and sold in 9 days for $1,150,000.  That was super quick - I heard they actually had multiple offers - 3 of them.  The average price of the solds last year was $1,051,547 and the average this year is $990,183 - a near 6% drop in the average price.  So seems we have more homes selling but at a reduced rate this time over last year.

As far as what is currently for sale - there are 26 homes available for purchase as of today.  They range in price from $625,000 (a short sale) to $2,395,000 for brand new construction w/ nice views.  We have seen a few Short Sales and Bank Owned properties selling here recently - not a lot however.  The average price of the homes currently for sale is $1,199,800.  Some of the homes for sale have been on the market for a long time - there is a direct correlation between price and how long a property stays on the market.  Buyers want to get a deal in today’s market - if they sense it is overpriced there are not even offers being submitted. 

Bottomline, people still need to buy and sell and this is typically a great time of year for buyers to score on a good deal.  The Hollywood Riviera is the kind of place people love to call home.  The schools are great, the beaches are gorgeous and so close, shopping abounds, the weather is very close to perfect most of the time, and the people are super nice here.

• REO open house today 37 people want more info and 4 offers. #

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REO open house today 37 people want more info and 4 offers.