Rancho Palos Verdes, CA Real Estate News

By Rachel Martiens and Kathy Tyndall = The Tyndall Team, Love Living In The South Bay
(RE/MAX ESTATE PROPERTIES)
Contenious Senior Complex Moves Forward Rancho Palos Verdes News Wrapping up the final part of the approval process for a low-income housing project, the Rancho Palos Verdes City Council on Tuesday successfully authorized the controversial, time sensitive endeavor.   Council voted 3-0 (councilmen Doug Stern and Peter Gardiner were absent) to approve the disposition and development agreement, or DDA, between the city's Redevelopment Agency and AMCAL Mirandela Fund LP for the construction of a 34-unit senior affordable-housing complex, located at the Northwest corner of Crestridge road and Crensahw Blvd.   Tuesday night's sparsely attended public hearing was more subdued than the March 3 meeting, which was the scene of heated protest from residents opposed to the project. They cited conce...
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
Four houses are for sale in one of the neighborhoods I track.  Here are basic descriptions of each: House No. 1:  Panoramic view, 1960 original, four bedrooms--$1,175,000. House No. 2:  Panoramic view, remodeled interior & exterior 2008, 3 bedrooms--$1,395,000. House No. 3:  Partial view, interior remodeled, 3 bedrooms--$1,149,000. House No. 4:  No view, original 1960 interior & exterior, 4 bedrooms--$938,800.   All properties are located in a coastal communities with wonderful ocean views as you enter and leave the community.  It is a wonderful neighborhood.  I've sold several houses in the neighborhood and most of my clients are still there.  It is rare to have four houses for sale at the same time. Here's an update:  House No. 4 accepted an offer and is scheduled to close mid-April. ...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
The Best Pick from the Broker Open House Tours I took today is as follows: 3259 Deluna Dr., Rancho Palos Verdes:$1,349,000  - Days on market - 36 The 5 bedrooma and 3 bath home was purchased by the owners in 2005 for nearly the same price as is listed now, and I understand they have put $300,000 in the home renovations. The remodeling is absolutely beautiful, with a huge custom kitchen and professional range, hardwood and stone floors , inside and out side entertaining areas, outside BBQ, stone counters and stools, pool, waterfall and much more.The ledgestone and wrought iron gated front yard currently has a play set in it. The master bedroom and bath are very cleverly and beautifully remodeled. For more information about Rancho Palos Verdes Real Estate  please visit my website at http:...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
The Rancho Palos Verdes City Council approved a proposed 34-unit (reduced from the 40 originally requested) affordable housing complex for seniors at its public hearing on March 17th. AMCAL Multi-housing Inc., plans to build a two story apartment complex on a 19.3 acre parcel at the northwest corner of Crestridge Road and Crenshaw Boulevard. The units will be restricted to residents age 62 and older.AMCAL still needs to apply for a highly competitive state grant - and win that money - in order for the project to move forward. The Project wias planned to include a 1,100 sq. ft. clubhouse, 58 parking spaces and a bocce court. About 17 acres of the property would be disgated open space. The sitge is quite hilly and the previously proposed 25 foot retaining wall to provide a flat site for ...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
A new 28 unit condominium project may be under construction soon in the Highridge area of Rancho Palos Verdes. The site at 28220 Highridge Road is currently developed with an abandoned Verizon telephone equipment building.  Current condition of Property: The project was approved by the Cioty Council of Rancho Palos Verdes in October last year, but is in the process of having a 441 sq. ft. parcel annexed to Rancho Palos Verdes from Rolling Hills Estates. Once this process is completed, plans will be reviewd by the City. For more information about PV Condos & Townhomes / Townhouses  visit my website at http://www.maureenmegowan.com  
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
I decided not to go for a walk after work today.  Instead, I'm blogging and checking in on other social medias--a moment or two on Facebook,  a tweet here and there, before you know it an hour passes by.  Balance can be a precarious thing.   I consider my time on Active Rain as marketing and lead generation time.  I must admit it quickly became in integral part of my day.  Today as I typed ads for corporate newspaper advertising I found myself wanting to add photos and upload the ad myself.  Instead, it is sent to the receptionist who will send it off to the person in charge of corporate advertising and it will appear next weekend...yes, next weekend and beyond.  Seems like a very long lead time for someone who has grown accustomed to the instant gratification and market saturation of A...
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
Inventory is down and sales are up in the Eastview neighborhood of Rancho Palos Verdes.  I think the escrow officers have a smile on their face--they are getting busy! Eastview statistics for February 2009: Active Listings:  11 Single Family Homes are for sale priced from $585,000 to $2,150,000. Pending Sales:  4 Single Family Homes are in escrow priced from $649,000 to $710,000. February Sales:  1 Single Family Home closed escrow priced at $590,000. Based on the above indicators of supply and demand the Eastview neighborhood is shifting into a Seller's Market.  Buyers, the media does not know this yet, so better go shopping before all those new sales are reported and picked up by the reporters. Norma Toering & Team RE/MAX Palos Verdes Realty(310) 493-8333 / Office Phone: (310) 831-0800...
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
Since Rancho Palos Verdes is the largest city on the Palos Verdes Peninsula I am breaking the market reports into several categories to make it less cumbersome to find your neighborhood, or the one you would like to track. The Top of The Hill report for February 2009 will cover the following areas: Country Club Neighborhood Active Listings:  12 Pending Sales: 3 Closed Sales: 1   La Cresta Neighborhood Active Listings:  19 Pending Sales:  2 Closed Sales: 1   Los Verdes Neighborhood Active Listings:  10 Pending Sales:  4  (Go, Los Verdes!!) Closed Sales:  1   Crest Neighborhood Active Listings:  11 Pending Sales:  2 Closed Sales:  0   Peninsula Center Neighborhood Active Listings:  9 Pending:  2 Closed:  1                             Silver Spur Neighborhood Active Listings:  11 Pending S...
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By Rachel Martiens and Kathy Tyndall = The Tyndall Team, Love Living In The South Bay
(RE/MAX ESTATE PROPERTIES)
 Today there are currently 6 homes for sale in Los Verdes. They are on the following streets: Grovespring El Rodeo Verde Ridge Monero Lobrook Ella They range in price starting at $1,049,000 to $1,695,000. There are four homes in escrow in the Los Verdes area. Since the first of the year only one home has sold. It was listed for $729,000 and closed escrow for $713,000. This particular listing was a fixer sold as is located on Ella. For more details regarding the Los Verdes area contact Rachel.   WWW.RTYNDALL.COM WWW.THEPVREALTOR.COM  
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
The following are general levels of interest rates for various loan terms for both conforming and Jumbo loans as provided by Al Hermann at al@american-california.com Conforming 30 Yr Fixed up to $417,000 4.875% Rate 5.015% APR Pricing based on 740 credit score, 65% Debt to Income Ratio, 80% Loan to Value Ratio, $417000 Loan Amount, 30 Lock Days, Qualified Borrowers Only. When Mortgage Insurance is applicable, it is not calculated in the APR   Conforming 30 Yr Fixed $417,001 - $625,500 5.375% Rate 5.511% APR Pricing based on 740 credit score, 45% Debt to Income Ratio, 80% Loan to Value Ratio, $625500 Loan Amount, 30 Lock Days, Qualified Borrowers Only. When Mortgage Insurance is applicable, it is not calculated in the APR   Jumbo 7 Year ARM 5.750% Rate 5.840% APR Pricing based on 740 cre...
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
Rancho Palos Verdes is the largest of the four cities on the Palos Verdes Peninsula.  The following statistics are for the coastal and harbor neighborhoods: Palos Verdes Drive East Neighborhood:  With many stunning harbor, ocean and city lights views this area offers a 24/7 view.  While the ocean is dark the lights of the harbor and city twinkle through the night! Active Listings:  22 Single Family Homes are for sale priced form $849,000 to $2,995,000. Pending Sales:  4 Single Family Homes are in escrow priced from $930,000 to $1,365,000. February Sales:  2 Properties sold priced at $800,000 and $985,000.   Mira Catalina Neighborhood:  Many of the homes in the Mira Catalina area enjoy views of the ocean, but many also have the added variety of harbor and/or city lights for a bit of nigh...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
Plans have been submitted for plan check for the new Trader Joe's market to be constructed at the Golden Cove Shopping Center at the corner of Hawthorne Boulevard and Palos Verdes Drive South, at the previous location of the Golden Lotus Restaurant. The new design is for an 11,000 sq. ft. store The new store is planned to be approx. the same size as the current Trader Joes in Riviera Village and Rolling Hills Plaza. The existing building is expected to be demolished in May, and construction is expected to start in June in order to minimize disturbance to the operations of the Montessori school at the shopping center. Completion of the store is expected by the end of the year. For more information about Rancho Palos Verdes, visit my website at http://www.maureenmegowan.com
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
I'm getting ready to list a New York Style Loft Single Family House that in its previous life was a Plain Jane Little Suburban Tract House.  As chance would have it, another Plain Jane Little Suburban Tract House is next door and it is on the market for $1,175,000.  Let me add both homes have incredible ocean views. The sellers are pondering over the listing price I gave them--so I cannot reveal it here, but it will be competitively priced. We are definitely offering the buyers a choice.  There's the sleek,swanky loft look, which may not be for everyone, and there's the original tract home waiting to be transformed into something special--big project but probably worth it.   It will be interesting to see which one sells first. I'm taking bets; want to place one?  Oh, I should say Plain ...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
This week, the Rancho Palos Verdes City Council approved an ordinance requiring that all catering trucks within the Ciity limits must park within 200 feet of a restroom  that employees and customers have written permission to use. The problem with catering trucks in the City was made worse by the recent passage of a similar ordinance by the City of Palos Verdes Estates, which simply caused most of the catering trucks to move into Rancho Palos Verdes. Owners of the catering trucks are outraged over the ordinance claiming that the City is trying to put them out of business. Many residents, however, have complained about trash being left in their yards as well as damage to their property caused by lunch wagon customers.  Opponents of the ordinance say that workers at construction projects ...
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
At 3:15 today I received the sweetest call. For those of you who read Granddaughters, Life Lessons and Listing Appointments the election was held today, the votes were tallied and my granddaughter called to inform me she is now President of the Student Body of Vista Grande Elementary School in Rancho Palos Verdes. Ahhh, if you don't succeed the first time, try, try again. She did, and this time her efforts were rewarded. She's no quitter and there's a life lesson here for everyone. Whether you are in fifth grade or your fifth decade, the ability to keep trying until you succeed is an admirable quality. Sometimes success means we must work harder, prepare more thoroughly and risk failure in order to achieve our goals. If we do not take the chance, we will never know if we can pass the te...
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
The Jacaranda trees that line many of the streets will soon fill the Eastview section of Rancho Palos Verdes with purple blossoms--it is a beautiful sight to see.   January 2009 real estate and home sales report for the Eastview Neighborhood of Rancho Palos Verdes: Active Sales:  11 Homes are for sale priced from $585,000 to $2,150,000. Pending Sales:  4 Homes are in escrow priced from $650,000 to $710,000. January Sales:  2 Properties closed escrow priced at $692,500 and $750,000.   The Eastview neighborhood was annexed by the City of Rancho Palos Verdes many years ago.  After a lengthy court battle the residents were given the option of attending Palos Verdes Schools or Los Angeles Unified Schools. Norma Toering & Team RE/MAX Palos Verdes Realty(310) 493-8333 / Office Phone: (310) 831...
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
Crest Neighborhood Real Estate and Home Sales Report January 2009: Active Listings: 10 Homes are listed for sale priced from $899,000 to $1,399,000. Pending Sales: 2 Homes are in escrow priced at $850,000 and $1,175,000. January Sales: 1 Property closed escrow priced at $1,028,000. Peninsula Center Real Estate Report January 2009: Active Listings: 8 Properties are listed for sale priced from $888,000 to $1,375,000. Pending Sales: 1 Property is in escrow priced at $1.075,000. January Sales: 0 Silver Spur Neighborhood Real estate Report January 2009: Active Listings: 14 Homes are listed for sale priced from $799,000 to $1,199,000. Pending Sales: 5 Homes are in escrow priced from $699,000 to $975,000. January Sales: 2 Homes closed escrow priced at $750,000 and $800,000. Norma Toering & Tea...
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
The Los Verdes neighborhood of Rancho Palos Verdes has 10 homes listed for sale and 3 homes in escrow. At that rate of absorption there is enough inventory to last just over three months. Those statistics indicate it is a seller's market in Los Verdes. An interesting discovery, indeed. Active Listings: 10 Properties are listed for sale priced from $875,000 to $1,790,000. Pending Sales: 3 Homes are in escrow priced from $729,000 to $1,195,000. January Sales: 0 Is there a move in your future? For more information on selling or buy a home in Los Verdes contact Norma Toering & Team at NormaToering@gmail.com 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 ...
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By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
I have recently read two articles trying to explain why gasoline prices are going up while the reported prices for a barrel of oil conntinues to go down. There are two explanations being given for this: 1)  In California, gasoline prices are going up due to the fact that California uses a different blend of gasoline than other parts of the country due to State of California environmental regulations. Because of this, consumers in California are prone to short term disruptions in gasoline production. Recently, it has been reported that production of gasoline for California has been reduced due to planned refinery shut downs for maintenance. In addition, it has been reported that California refineries have been increasing production of cheaper grades of gasoline that do not meet Californi...
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By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
Located near the top of the Palos Verdes Peninsula the La Cresta neighborhood enjoys some panoramic views and close proximity to shopping, dining and entertainment. It is a short drive to beaches and freeways. La Cresta real estate and home sales statistics for January 2009: Active Listings: 16 Single Family Homes are listed for sale priced from $990,000 to $3,295,000. Pending Sales: 3 Homes are in escrow priced from $1,295,000 to $2,250,000. January Sales: 0 At the current absorption rate the La Cresta neighborhood has approximately a five month supply of homes for sale. This places the area in a balanced market--and does not favor either the buyer or the seller. Norma Toering & Team RE/MAX Palos Verdes Realty(310) 493-8333 / Office Phone: (310) 831-0800 South Bay Los Angeles cities I ...
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