There were 18 homes on the September 29, 2009, Palos Verdes real estate Broker’s Tour.  We currently have 248 active single family homes for sale in Palos Verdes ranging in price from $750,000 in Rancho Palos Verdes to $18,900,000 in Rolling Hills (the low in Eastview is $565,000).  There are 60 townhome for sale price between $218,000 and $1,500,000.  My favorites were:

Steven Watts’ 3820 Via Palomino, Palos Verdes Estates, (above left) is a 4 bedroom 4 bath, 3,750 square foot home for $2,395,000.  This Cape Cod style Valmonte home was completely remodeled in 2000 and features a private office and separate family room.  Robin Debraal’s 1904 Via Estudillo, Palos Verdes Estates, (above right) is a 5 bedroom, 3 bath, 3,062 square foot home for $1,625,000.  This Lunuda Bay home is within walking distance to all 3 schools and features a remodeled kitchen.

Luis Kim’s 30471 Camino Porvenir, Rancho Palos Verdes, (above left) is a 4 bedroom, 3 bath, 3,323 square foot home for $1,950,000.  This remodeled Country Club home has spectacular 180 degree ocean views, gourmet kitchen and pool.  Jodi Ann Keel’s 2641 Via Pacheco, Palos Verdes Estates (above right) is a 3 bedroom, 2 bath, 1,503 square foot home for $1,275,000.  This lower Lunada Bay home was completely remodeled; house was taken down to the studs.  

Photos courtesy of MRMLS

In Washington and beyond, the discussion is stirring as to whether to extend the First Time Home Buyer Tax Credit of $8,000 which is set to end November 30, 2009.  I believe extending this credit will benefit homeowners across the board including owners of Palos Verdes Real Estate. 

At first glance, it may not look beneficial to owners of Palos Verdes real estate because the applicant’s income cannot exceed $75,000 (or $150,000 for married couples) and property values here begin in the $700,000s.  However, there is the trickle up theory.  A Palos Verdes home may be sold to a family (Family A) moving from another community with lower prices.  And in order for Family A to purchase in Palos Verdes, they must first sell their home.  Family B that is buying the Family A home may be a first time buyer who will be assisted with that purchase ultimately benefiting a seller of Palos Verdes real estate.

“Through July, the tax credit spurred about 175,000 home sales according to an analysis by Mark Zandi, chief economist at Moody’s Economy.com.  That trend would lead to nearly 375,000 such sales through Nov. 30, he said.” according to a September 25, 2009, Los Angeles Times article. 

• Just posted on ActiveRain: RIS Media ……. Let Housing lead the way ITS THE ONLY WAY http://activerain.com/t/1256695 #
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• Just posted on ActiveRain: HELP ME figure out what will be my next PHONE??? http://activerain.com/t/1256750 #

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Just posted on ActiveRain: HELP ME figure out what will be my next PHONE??? http://activerain.com/t/1256750

Just posted on ActiveRain: Weight Watchers works…for me http://activerain.com/t/1256724

Just posted on ActiveRain: RIS Media ……. Let Housing lead the way ITS THE ONLY WAY http://activerain.com/t/1256695

 With the old saying of the pearl from a grain of sand, cloud has a silver lining, the core idea is that within what SEEMS to be the problem….is the solution.

Housing opportunity could be the best solution for our recovery. This major article outlines so many good ideas that I want to share it with you. It uses cash for clunkers concept for homes. It says 9000. is stimulated into the economy with each home purchase.(I think that is conservative in the South Bay)

Instead of stimulus to the Banks alone..it stimulates every home owner and future homeowner. The ideas are so good I hope even some of them will be put to use.

http://rismedia.com/2009-09-21/jumpstarting-job-creation-let-housing-lead-the-way/


Please forward this article on to others if you found the value I did.

In the last six weeks interest rates for Palos Verdes real estate have remained fairly steady.  The interest rate for a 30-year fixed mortgage going down 1/4 point to 4.75% for a conforming loan and remaining at 5.785% for a jumbo loan.  A 5/1 Year ARM is 3.75% for a conforming loan and 5.125% for jumbo loans.  A 5/1 Interest Only conforming loan has a 3.75% interest rate and a jumbo loan has a 5.25% interest rate.

Demand is up for U.S. Treasury Bonds.  Yesterday there was 3 times as much demand compared to supply for sales of 2-year Treasury notes (investors bidding at 1.035%) .  Interest rates for home mortgages have remained low.  Conventional wisdom says that when bond rates go up, interest rates usually go down but at this time both are fairly low which is a mixed signal.  These are interesting times.

• No..only since 2003 ‘ pope how about new old agent??? #

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No..only since 2003 ‘ pope how about new old agent???