The current real estate market is a bit puzzling.  Some new listings grow old and stale waiting for the right buyer to come along.  Other new listings are sold in a multiple offer feeding frenzy.  If the price is not way out of line, and the conditions are similar then why is one seller able to attract many buyers and the other seller is left with none?   My local explanation is location and view.  Buyers are cherry picking the best of the housing fruit and leaving the rest to, for lack of a better term, rot on the MLS.  Recently a panoramic ocean view home received nine offers.  A similar view home in a nearby neighborhood (only blocks away) is still on the market.    The Palos Verdes Peninsula buyers are a savvy bunch.  They recognize the little nuances that distinguish a property fro... 03/14/2010

  The following are interest rate quotes from Al Hermann of American/California Financial Services 30 Yr Fixed FHA Rate APR         4.750% 5.274% Details       Conforming 30 Yr Fixed up to $417000 Rate APR         4.750% 4.903% Details         Conforming Jumbo 30 Yr Fixed $417001 - $625500 Rate APR         4.875% 5.021% Details         Conforming Jumbo Fixed $625000 - $729750 Rate APR         4.875% 5.019% Details         Jumbo 7/1 ARM $1.5 Mil (higher loan amt available) Rate APR         5.250% 3.762% Details       The following are interest rate quotes from Ron Goodlin at Coast Captal Group at ron@coastcapitalgroup.com : *Loan amounts from $150,000-$417,000: 30yr  fixed                    4.625%                    (4.85% apr) 15yr  fixed                    4.125%                    (4... 03/12/2010

Rolling Hills neighborhood real estate and home sales report for Rolling Hills, CA in February 2010. Active listings: 16 Homes are currently for sale in Rolling Hills priced from $1,299,000 to $12,800,000. Pending sales: 4 Houses are in escrow priced from $1,229,000 to $2,995,000. February sales: 3 Homes sold in February 2010 in Rolling Hills: Middleridge Ln $1,350,000 Flying Mane Rd $1,595,000 Georgeff Rd $2,150,000 All Rolling Hills, CA real estate and home sales reports. Previous Palos Verdes and San Pedro Market Reports Norma Toering & Team RE/MAX Palos Verdes Realty(310) 493-8333 / Office Phone: (310) 831-0800 PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the D... 03/04/2010

Rolling Hills and Rolling Hills Estates January Home Sales Rolling Hills and Rolling Hills Estates are distinctly different cities.  They are included together here more for convenience than any other reason.  As it turns out, there was only one home sale that closed in Rolling Hills last month.  The total for last year was only 18 and not one of those sales was in the month of January.  In Rolling Hills Estates there were nine closings this past month compared to only two last year in January and three the year before.  One of the biggest differences in the two cities can be seen in the selling prices of the homes.  The median sales price in Rolling Hills in 2009 was well over $2,000,000, whereas in Rolling Hills Estates, it was below $900,000.  The median price in Rolling Hills Estate... 02/24/2010

Rolling Hills real estate and home sales report for Rolling Hills, CA in January 2010. Active listings: 15 Houses are currently for sale in Rolling Hills priced from $1,399,000 to $14,500,000. Pending sales: 6 Homes are in escrow priced from $1,229,000 to $1,800,000. January sales: One home sold in Rolling Hills during January 2010: Wideloop Rd $1,750,000 All Rolling Hills California real estate and home sales reports. Previous Palos Verdes and San Pedro Market Reports Norma Toering & Team RE/MAX Palos Verdes Realty(310) 493-8333 / Office Phone: (310) 831-0800 PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper. South Bay Los Angeles cities I se... 02/11/2010

A perfect stranger feels she knows me very well.  You see, I am in her "Favorites" column on her computer.  She is a buyer but she is not working with me.  She is following my blog and turning to my website when she wants information on the the local real estate market.   She recognized me from my photo (that's a relief, it's oh so embarrassing when they say you don't look a thing like your photo--another good reason to update those images as time goes by) and immediately thanked me for,"... doing a real service for the community and the buyers and sellers who live on the Palos Verdes Peninsula."   It was lovely to receive a sincere compliment with no strings attached.  It is satisfying and rewarding to know she feels more informed and knowledgeable because of my Active Rain blogging ef... 02/06/2010

Rolling Hills Home Sales in 2009 The private, gated community of Rolling Hills consistently ranks as one of the most expensive sub-areas of the South Bay.  In fact, when using median sales prices as a metric of value, this area more often than not is at the top of the list.  The number of homes sold last year jumped from 12 in 2008 to 17.  To put this into perspective, this is half of what the number of sales were at the peak in 2000, but the number is on the rise.  The median sales price of $2,500,000 represents an increase from $2,200,000 the prior year as well.  So by these two metrics, the market conditions have improved here from what appears to be the depths of a challenging 2008. It also remains the only sub-area of the South Bay to have had the median sales price for a given yea... 02/05/2010

Rolling Hills ( area 166 in map below )had the following real estate market activity for single family residences during the 4th Quarter of 2009: Properties Sold:  6 Address                                      Price         Bd Bth   Sqft    $/Sq Built      ML#     Sold Date    Days on Mkt 3 Openbrand RD               $1,300,000       4 3.00   2,190   $594 1955 S09005450 11/24/09     215 71 Crest Road East RD      $1,900,000      3 2.00   2,016   $942 1962 S09107364 12/01/09      17 5 W Ringbit RD                  $2,325,000      4 5.00   3,808   $611 1960 S09116830 12/21/09     45 6 Maverick LN                    $2,600,000      4 5.00   4,647   $560 1956 S09087572 12/09/09    120 10 Poppy Trail                   $3,485,000      4 7.00   8,127   $429 1985 S09120168 12/30/09     13 35 S... 01/08/2010

Rolling Hills neighborhood real estate and home sales report for Rolling Hills, CA in December 2009. Active listings: 19 Homes are currently for sale priced from $1,229,000 to $14,900,000. Pending sales: 5 Houses are in escrow in Rolling Hills priced from $1,299,000 to $2,475,000. December sales: 4 Homes sold in RH during December 2009: Crest Rd $1,900,000 Ringbit Rd $2,325,000 Maverick Ln $2,600,000 Poppy Trail $3,485,000 All Rolling Hills, California real estate and home sales reports. Previous Palos Verdes and San Pedro Market Reports Norma Toering & Team RE/MAX Palos Verdes Realty(310) 493-8333 / Office Phone: (310) 831-0800 PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As... 01/06/2010

Many people do not understand the hidden major taxes that many heirs may have to pay starting next year when the estate tax is scheduled to disappear., although it is set to return the following year at the high tax rate and low estate tax exemption that existed prior to 2001. Back in 2001, Congress passed a strange piece of legislation, signed by President Bush, concerning the estate tax. The bill provided that the estate  tax would essentially be cut over the span of the decade - the exclusion would go up and the taxable rate down - through the end of 2009. The top estate tax rate for 2009 is currently 45% with a $3.5 million exemption. In 2010, the federal estate tax would disappear entirely, and in 2011, the tax would return to the Clinton-era rate of 55 percent, with only a $1 mill... 12/19/2009

If you borrow money from a commercial lender and the lender later cancels or forgives the debt, you may have to include the cancelled amount in income for tax purposes, depending on the circumstances. When you borrowed the money you were not required to include the loan proceeds in income because you had an obligation to repay the lender. When that obligation is subsequently forgiven, the amount you received as loan proceeds is normally reportable as income because you no longer have an obligation to repay the lender. The lender is usually required to report the amount of the canceled debt to you and the IRS on a Form 1099-C, Cancellation of Debt.The amount of debt forgiven must be reported on Form 982 and this form must be attached to your tax return The Mortgage Debt Relief Act of 200... 12/14/2009

Rolling Hills neighborhood home sales and real estate report for Rolling Hills, California in November 2009. Active listings: 21 Homes are currently for sale in Rolling Hills priced from $1,229,000 to $14,900,000. Pending sales: 6 Homes are in escrow priced from $1,299,000 to $3,499,800. November sales: One house sold in Rolling Hills during November 2009: Openbrand Rd $1,300,000 All Rolling Hills real estate and home sales reports. Previous Palos Verdes and San Pedro Market Reports Norma Toering & Team RE/MAX Palos Verdes Realty(310) 493-8333 / Office Phone: (310) 831-0800 PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper. South Bay Los Angel... 12/11/2009

Interest rates are at record lows !!!! Here are some loan programs currently being offered by Ron Goodli of Coast Capital Group at 310-798-5514 : Rates available at a 1pt origination fee plus standard closing costs. Rates based on fico score ">740", impound account, loan to value "<60%"  and lock period "30 days"... Loan amounts from $150,000-$417,000: 30yr fixed loan      4.375%                     (4.48% APR) 10/1 ARM fixed      4.125%                       (4.22% APR)  5/1 ARM fixed       3.375%                       (3.45% APR) Loan amounts from $417,000-$729,750..Program has been extended for 2010.. 30yr fixed loan      4.75%                       (4.89% APR) 10/1 Arm fixed      4.5%                            (4.68% APR) 7/1 ARM fixed       4.0%                            (4.125% ... 11/27/2009

Rolling Hills neighborhood home sales and real estate report for October 2009 in the city of Rolling Hills, California. Active listings: 24 Homes are currently for sale in Rolling Hills priced from $1,289,000 to $14,900,000. Pending sales: 6 Properties are currently in escrow priced from $1,395,000 to $2,995,000. October sales: One house sold in Rolling Hills during October 2009: Saddleback Road $5,500,000 All Rolling Hills CA real estate and home sales reports. Previous Palos Verdes and San Pedro Market Reports Norma Toering & Team RE/MAX Palos Verdes Realty(310) 493-8333 / Office Phone: (310) 831-0800 PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze ... 11/15/2009

A remodeled home in Rolling Hills hit the market a few days ago and the list price is under $1.3M.  I saw the property when it was listed at a higher price.  It's not perfect, but hey, it is Rolling Hills, the gated city at the top of the Palos Verdes Peninsula. Buyers, that is a deal based on location alone!   The median price of homes in Rolling Hills is over $2M.   Here's a peek at home sales over $3M in Rolling Hills for the past few years: 2009:  3 2008:  3 2007:  10 2006:  8 2005:  7 (numbers based on MLS--deemed correct but not guaranteed) No doubt about it, sales are down and so are prices in Rolling Hills.  If you're thinking of making a move to behind the gates of Rolling Hills, now is an excellent time to see if your dream home is available at a surprisingly attractive price.... 11/14/2009

I was running late this morning---the cell phone was sounding the piano ring-tone every few minutes and as I responded to calls my hair air dried (think frizz) and my oatmeal grew cold (think glue).  The news was a mixture of good and bad:  The promised offer is not coming.  The short sale offer was accepted, and my business partner called in sick.  The pre-approval is waiting in my in-box and there are multiple offers on the income property my clients submitted an offer on.  Just your typical real estate day. I almost skipped the broker tours today.  There was an escrow to open, a file to complete and hefty stack of paperwork on my desk.  However, I really enjoy that midday break from 11am to 1pm and today was simply too lovely to spend it entirely in front of my computer.  I printed t... 10/20/2009

Today there are millions of real estate sites for the consumer to access listings. Leaving the consumer to question which ones are accurate? Now with listing book a new program through the MLS Realtors can offer their clients a customized search through the MLS allowing them real time information with the same information as us Realtors receive. It is great! It takes the frustration out of house hunting....well.....some of it!   To search through my listingbook go ahead and sign up! It is simple and free: http://rachelandkathy.listingbook.com/ 10/20/2009

Rolling Hills ( area 166 in map below )had the following real estate market activity for single family residences during the 3rd Quarter of 2009: Properties Sold:  6 Address                                      Price       Bd Bth   Sqft    $/Sq Built      ML#     Sold Date    Days on Mkt 24 Caballeros Rd             $1,380,000 3 2.00 2,269 $608 1960 V09025391 8/21/09         156 68 Eastfield DR                $1,820,000 5 4.00 3,346 $544 1955 V09086223 9/21/09          43 1 Lower Blackwater Cyn RD $2,500,000 4 3.00 2,864 $873 1940 S09047294 9/04/09        126 2 E Packsaddle RD            $2,650,000 5 6.00 5,088 $521 1954 S09039402 7/23/09          81 48 Saddleback RD             $2,750,000 5 4.00 5,168 $532 1972 S08163626 9/18/09        273 46 Saddleback RD             $3,500,000 4 4.00... 10/12/2009

Rolling Hills neighborhood home sales report for September 2009. Active listings: 22 Homes are currently for sale in Rolling Hills priced from $1,299,000 to $14,900,000. Pending sales: 3 Houses are currently in escrow priced from $1,395,000 to $6,950,000. September sales: 3 Properties sold in Rolling Hills during September 2009: Eastfield Dr $1,820,000 Lower Blackwater Cyn Rd $2,500,000 Saddleback Rd $2,750,000 Previous Palos Verdes and San Pedro Market Reports Norma Toering & Team RE/MAX Palos Verdes Realty(310) 493-8333 / Office Phone: (310) 831-0800 PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper. South Bay Los Angeles cities I sell real ... 10/09/2009

Palos Verdes home prices range from $565,000 to $18,000,000.  If you're curious to know what accounts for the price span it's location, size, condition and a few lesser nuances, but those are the Big Three determiners of value. For instance the $565,000 property is under 1500 sq. ft., the lot is less than 6,000 sq. ft., and it is being sold AS IS with the notation it needs a little TLC.   On the other hand the $18,000,000 property is in the 10,000 sq. ft. range with a lot just under 180,000 sq. ft., with guest house, pool, panoramic view and is an equestrian estate in a gated community.    However, both homes benefit from the coastal location and the stellar reputation enjoyed by the Palos Verdes Unified School District.  They each rely on their own merit for value and view, size, condi... 09/20/2009