Here's a mid-month update  for February 2008 on single family residence real estate activity in the four cities of the Palos Verdes Peninsula:Rolling HillsRolling Hills EstatesPalos Verdes EstatesRancho Palos Verdes 26 Single Family Homes have sold since January 1, 2008.68 Single Family Homes are currently in escrow.266 Single Family Homes are currently for sale. 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 and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach. Find Norma on: Facebook - Twitter - LinkedIn - Email Norma Palos Verdes Real Estate Blog - Palos Verdes... 02/14/2008

It's time for the end of the month update on real estate for sale and sold in the four cities of Palos Verdes:  Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes and Palos Verdes Estates. January 2008 Statistics: Rolling Hills:  20 Homes For Sale; 1 property in Escrow, No Sales Rolling Hills Estates:  13 For Sale; 2 in Escrow; 2 properties Sold Rancho Palos Verdes:  118 Homes for Sale; 26 in Escrow; 8 Sold Palos Verdes Estates:  51 Homes for Sale; 10 in Escrow; 1 Sold   The above stats are super simplified.  If you would like a more detailed report for your neighborhood, please contact me and I will send an e-market report to you within 24 hours--probably sooner! Norma Toering & Team RE/MAX Palos Verdes Realty(310) 493-8333 / Office Phone: (310) 831-0800 South Bay Los Angeles ci... 01/31/2008

If you love to follow the Rolling Hills real estate market, these numbers are for you!  December 2007 posted 3 sales in Rolling Hills with an average price per square foot of $982.  December 2007 also posted the highest sale price ever for a single family property in Rolling Hills:  $12,900,000.  Based on closed sales, Rolling Hills currently has approximately 6 months of inventory.  Date10/0611/0612/061/072/073/074/075/076/077/078/079/0710/0711/0712/07For Sale141512121415151716201918222219Sold223331105101003Pended223311210000100Months of Inventory based on Closed Sales7.07.54.04.04.715.015.0n/a3.220.0n/a18.0n/an/a6.3Months of Inventory based on Pended Sales7.07.54.04.014.015.07.517.0n/an/an/an/a22.0n/an/aAvg. Active Price393139654441448742244209401348154576454847974463571956355781Avg. ... 01/27/2008

Yesterday a fellow agent invited me to see an upcoming listing.  She wanted an opinion on what the price should be.  It is a custom one-of-a-kind, although dated, house.  In other words, there are no comparable sales in the neighborhood, and no comparable actives currently on the market. Hmmm, this was no easy call.  She told me she gave the sellers (two siblings from out of the area) a list price, but she was beginning to second guess herself, and wanted an opinion from someone she could trust.  Okay, flattery is a good way to get me to give up a couple of hours of my time to keep my name on the short list of agents she can trust.  Besides, she did not give me the list price she suggested, and being a competitive character I accepted the challenge. Know the Neighborhood:  In an area wi... 01/22/2008

As you can see by the graph below, Rolling Hills Homes Sales have shown a rise in 2007.  The South Bay has increased over 14.37% as per a recent article in the daily breeze this weekend.See my previous blogs for more info on Real Estate home sales. I would be happy to customize a chart for your home, if you would like help on market solds.  01/17/2008

It is January 16, 2008 and I could not wait until the end of the month to take the temperature of the local real estate market.  Here's the big reveal:Below are the statistics for the 4 cities on the Palos Verdes Peninsula:  Rolling Hills, Rolling Hills Estates, Palos Verdes Estates and Rancho Palos Verdes.176 Single Family Homes are currently listed for sale.30 Single Family Homes are currently in escrow7 Single Family Homes have sold (closed escrow) since Jan. 1, 2008 59 Condos/Townhouses are currently listed for sale.6 Condos/Townhouses are currently in escrow.2 Condos/Townhouses have sold (closed escrow) since Jan. 1, 2008. There is approximately a six month supply of Single Family Homes on the market and roughly a ten month supply of Condos/Townhouses available at the current absor... 01/16/2008

One of the things I like best about Palos Verdes, besides the coastal setting and stellar school system, is the wide variety of housing choices available. A 45 minutes drive around the Palos Verdes Peninsula will encompass 1950s and 60s cookie cutter communities (albeit with a luxurious flair) beginning to assert their individuality with distinctive remodels and architectural makeovers, to coastal estates and horse properties complete with stables and direct access to the numerous riding trails laced throughout the hills and canyons.  If a hint of history and character are desired, Palos Verdes Estates offers many Old Spanish beauties built in the 1920s and 30s in Malaga Cove. Enter at your own risk because they are heart stealers. The current price range available in Palos Verdes Estat... 01/12/2008

2007 was an unbelievable year for real estate as it grabbed front-page headlines nearly every day.  Sub-prime submersion, buyer bailouts, and other notorious stories unfolded with growing concern for both sellers and buyers. These national stories are important and do have an economic impact, but let's go local for what transpired in Palos Verdes in 2007.Three key factors have cushioned the fall for the cities of the Palos Verdes Peninsula: Rolling Hills, Rolling Hills Estates, Palos Verdes Estates and Rancho Palos Verdes.Coastal LocationLimited New ConstructionAward Winning School DistrictThis golden trio provides the pillars that continue to support real estate values in Palos Verdes.  Read them again. 2008 will not see any one of the three change in any significant way.  The market w... 01/03/2008

As of January 2, 2008 there are only 163 single family homes for sale in the Palos Verdes cities of Rolling Hills, Rolling Hills Estates, Palos Verdes Estates and Rancho Palos Verdes.25 homes are currently in escrow.437 single family homes sold in 2007 for less than $2,000,000100 single family homes sold in 2007 for more than $2,000,000Calls and requests from buyers are on the increase.  The attendance at open houses during December 2007 was pleasantly surprising.  I showed property on December 22.  Buyers are anxious to buy, but they want to make intelligent purchases.Sellers, there are still multiple offers when the property is priced properly for its condition, location and today's market.  A home in Palos Verdes Estates received six offers last month.  If you would like a consultati... 01/02/2008

Hello Buyers!2008 is going to be a great year for you.  This is no crystal ball prediction or wishful agent thinking.  I'm seeing some serious price reductions on premium properties in Rolling Hills and other cities on the Palos Verdes Peninsula.  So get your pre-approval updated, put on your buyer's boots and check out my best buys for January 2008.Rolling Hills:  4 E. Ringbit was just reduced to $2,200,000!  This 4 bedroom 2.5 bath is a single level traditional home of more than 3,000 sq. ft.  plus it's updated and move-in condition.  Pool and View included! $530,000 was trimmed from the asking price--now that's a serious seller!  My prediction: It will be in escrow soon. Norma Toering & Team RE/MAX Palos Verdes Realty (310) 493-8333 / Office Phone: (310) 831-0800 South Bay Los Angele... 12/30/2007

2007 was an unbelievable year for real estate-it grabbed front-page headlines nearly every day.  Sub-prime submersion, buyer bailouts, and other notorious stories unfolded with growing concern for both sellers and buyers. These national stories are important and do have an economic impact, but let's go local for what transpired in Palos Verdes in 2007.Three key factors have cushioned the fall for the cities of the Palos Verdes Peninsula:Coastal LocationLimited New ConstructionAward Winning School DistrictThis golden trio provides the pillars that continue to support real estate values in Palos Verdes.  Read them again. 2008 will not see any one of the three change in any significant way.  The market will do what the market is going to do, but it will occur on a local basis; it will not ... 12/28/2007

If you are in the mood to saddle up the horse and go for a leisurely ride you might want to consult the Palos Verdes Peninsula Horsemen's Association Trail Guide.  It is the only complete guide to the equestrian trails of the Palos Verdes Peninsula.  Maps feature all of the equestrian trails superimposed on an aerial map. The PVPHA Guide sells for $20, plus tax, and includes an equine service directory.  The Trail Guide may be purchased at the General Store in Rolling Hills Estates, or you may order it from PVPHA, P.O. Box 4153, Palos Verdes Peninsula, CA  90274. In the market to purchase a horse property? The gated community of Rolling Hills offers some of the finest equestrian estates in Southern California.  Riding trails lace the hillsides and snake along the canyon bottoms. Enjoy m... 12/27/2007

Would You Show or Shop for Property on Christmas Eve? I'm not, but my former broker loved to tell the story of his Christmas Eve mega sale.  It seems he received a call from a former resident, now retired, who was back in town for the holidays. This past client and former resident was driving through his old neighborhood, one of the most exclusive on the Palos Verdes Peninsula, and saw a for sale sign in the yard of the property he had always coveted.  This would-be-buyer and Christmas Eve spoiler, found the closest pay phone (no cell phones in his era), called his former agent and insisted he must see that house immediately, as he had a family dinner to attend in just a few hours and was leaving on a cruise the day after Christmas. My broker knew the house was occupied-obstacle number ... 12/23/2007

In preparation for an upcoming listing appointment, I'm delving into the statistical archives of sales in the gated community of Rolling Hills.  The little gated city is nonpareil in the greater Los Angeles area.  There are miles of riding and hiking trails, ocean and city views, gorgeous equestrian estates and lots begin at one acre and go up.Price is not the issue; sales volume is.  While prices continue upward, sales have slowed dramatically.Rolling Hills sales 2002 - 2007 (as of 12/13/2007):2002:  32 Closed Sales2003:  24 Closed Sales2004:  25 Closed Sales2005:  24 Closed Sales2006:  20 Closed Sales2007:  16 Closed Sales2007 sales are down 50% compared to 2002 sales.  Prime properties continue to sell; the most recent sale in Rolling Hills closed at $12,900,000.  My message to my se... 12/13/2007

Geography Rolling Hills is located at 33°45′34″N, 118°20′30″W (33.759350, -118.341550)GR1.According to the United States Census Bureau, the city has a total area of 8.0 km² (3.1 mi²), all land.DemographicsAs of the censusGR2 of 2000, there were 1,871 people, 645 households, and 554 families residing in the city. The population density was 234.5/km² (607.7/mi²). There were 682 housing units at an average density of 85.5/km² (221.5/mi²). The racial makeup of the city was 79.80% White, 2.03% African American, 14.00% Asian, 0.48% Pacific Islander, 1.18% from other races, and 2.51% from two or more races. Hispanic or Latino of any race were 4.54% of the population.There were 645 households out of which 33.8% had children under the age of 18 living with them, 80.6% were married couples living... 12/06/2007

Currently there are 22 homes for sale in Rolling Hills, the most there has been on the market at one time in the past 14 months which equals 22 months of inventory (span of time it would take to sell all listed properties if no other properties came on the market.) There is one property in Rolling Hills selling every 2-3 months with the average price per square foot at $838 which is up there with past sales.Properties are currently selling at 82% of actual list price.This is great news.  In the luxury property market across the country, these numbers are great and indicate Rolling Hills holds it's value and remains an incredibly desirable location to live.In today's market, it's important to hire the right agent, price the property appropriately, have patients to find the right buyer an... 12/06/2007

Rolling Hills Date8/069/0610/0611/0612/061/072/073/074/075/076/077/078/079/0710/07For Sale211714151212141515171620191822Sold312233311051010Pended122233112100001Months of Inventory based on Closed Sales7.017.07.07.54.04.04.715.015.0n/a3.220.0n/a18.0n/aMonths of Inventory based on Pended Sales21.08.57.07.54.04.014.015.07.517.0n/an/an/an/a22.0Avg. Active Price407443413931396544414487422442094013481545764548479744635719Avg. Sld Price337524003406236523761920165623504500038162900037500Avg. Sq. Ft. Price705715740609604513698759846084480308380Sold/List Diff. %9492909594969694950951000820Days on Market9659511064481642110401800420Median Price312524003406236523002250170023504500035002900037500*All reports are published Nov. 2007, based on data available at the end of Oct. 2007. All reports present... 12/05/2007

Wow, this should heat up the Palos Verdes real estate market.   Why pay for pricey private schools when nationally ranked high schools are part of the Palos Verdes Unified School District?  Peninsula High came in at No. 89 and Palos Verdes High was ranked  No. 93 in U.S. News & World Report magazine's list of the top 100 Gold Medal public high schools.  The teachers from kindergarten forward are to be commended for this outstanding result! (My daughter teaches fourth grade in the PVUSD--congratulations girl!). Whether you're looking for a 2 bedroom starter home or a $20,000,000 equestrian estate, there's a home on the Palos Verdes Peninsula for you and your family. Call me for information on condos to coastal castles!   My four children all graduated from the Palos Verdes Unified School... 12/01/2007

Palos Verdes & Rolling Hills 2007 Real Estate Statistics and Other Interesting Facts   Donald Trump is often quoted, as saying there is no bad press, although the real estate industry might beg to differ since so much of the press it received in 2007 was negative.    Since all real estate is local, it is misleading to look at it as a national statistic.  Here are a few uplifting numbers and facts for Rolling Hills, Palos Verdes Estates, Rolling Hills Estates and Rancho Palos Verdes-zip codes 90274 and 90275 in Southern California.   The Palos Verdes Peninsula (includes all four cities mentioned above) currently has: 211 single family residences listed for sale 38 single family residences in escrow 495 single family residences sold in 2007 (as of 11/16)    Highest price paid YTD for a ho... 11/18/2007

Rolling Hills, California routinely makes the list of Safest Cities in America, and Richest Cities in America.  This gated city located at the top of the Palos Verdes Peninsula offers one of the most prestigious addresses in Southern California.There are currently 23 properties listed for sale, ranging from $1,875,000 to $23,000,000.One property is in escrow ($13,250,000), and 15 properties have sold in 2007 as of November 11.  Many of these properties are equestrian estates with acreage, breathtaking views and other amenities you expect to find in multi-million dollar estates.  However, you do not have to love horses to live in Rolling Hills.  It offers 24 hour security with all three entrances staffed 24/7.  There are more than 30 miles of trails for hiking and horseback riding.  The ... 11/11/2007