Palos Verdes Lifestyle - Norma Toering's PV Real Estate Blog

The South Shores neighborhood of San Pedro is a wonderful seaside community bordering Rancho Palos Verdes, CA.  The month of May found real estate activity on the rise and inventory on the decline.

South Shores Real Estate Activity May 2009:

Active Listings:  7 Single Family Homes are for sale priced from $775,000 to $1,899,000.

Pending Sales:  4 Homes are in escrow priced from $699,000 to $849,000.

May Sales:  2 Properties closed escrow priced at $600,000 and $1,080,000.

"Anyone have a listing coming up in South Shores?" is a common question at sales meetings.  If you're thinking of listing your South Shores home Norma Toering & Team can help.

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 Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach.

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Last week the bank foreclosed on a client's house.  Today a coworker will lose a home to the same fate. The housing market is far from receiving a clean bill of health.

 Yesterday at my open house three prospective buyers lingered, sat on the patio and soaked in the oh-so-stunning panoramic view, but walked away unable to pull the purchase trigger.  Two of the three absolutely want the house, they can afford the house, but they are gripped by fear and lack confidence in the stability of the housing sector.  How can a single agent overcome such valid concerns?

The truth is I cannot remove all the risk and offer them a money-back guarantee that purchasing a panoramic view property in Palos Verdes, CA is a good investment.  I can tell them their decision to purchase in this coastal community is supported by a strong school system, an almost perfect climate, some of nature's most glorious work in combining the ocean, desert and mountains within a two-hour drive.  Ok, so we have an earthquake every now and then, our freeways are overcrowded, and although improved, the air quality is less than desirable when the Santa Ana winds are blowing. All the more reason to come home to your own private sanctuary with the constancy of the undulating ocean and gentle coastal breezes blowing. 

It takes courage to break away from the herd mentality.  It takes intestinal fortitude to part with cash in times of uncertainty.  So my best advice is buy smart. Buy within your means and comfort zone.  Real estate is on sale.  Big views are on sale.  Shop with care.  Be careful and be wise.  Consult professionals.

Back up your purchase with as many property inspections as it takes to make you comfortable with the condition of the house.  Be diligent, but be reasonable.  Sellers are not giving properties away.  Most properties have flaws.  Evaluate and proceed when your concerns are satisfied and your questions are answered. 

I'll be surprised if this week does not yield an offer from Sunday's open house.  It's a house that is hard to forget and a view that belongs to only a few.  It is the gifted shopper who can sift through the racks and find the gem.  And so it is with houses.

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 Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach.

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Wow!  What a month May was for the Eastview neighborhood in Rancho Palos Verdes. 

 This neighborhood has the option of attending either Los Angeles Unified Schools or Palos Verdes Unified Schools. Consequently, it offers the opportunity to own a home for well under a million dollars and still have the option of attending Palos Verdes schools.  Many families opt to send their children to the neighborhood elementary school, and then select the intermediate and high school that best matches the needs of their child for the higher grades.

Eastview real estate statistics for May 2009:

Active Listings:  12 Single Family Homes are for sale priced from $475,000 to $1,975,000.

Pending Sales:  9 Homes are in escrow priced from $529,000 to $820,000.

May Sales:  2 Properties closed escrow at $675,000 and $710,000.

If you're looking for a new backyard for holiday celebrations Norma Toering & Team can help. 

Previous Palos Verdes and San Pedro Market Reports

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 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

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Someone forgot to tell the Silver Spur neighborhood of Rancho Palos Verdes the real estate market is slow.  Homes are selling like hotcakes in this centrally located community on the Palos Verdes Peninsula.

May real estate statistics for Silver Spur:

Active Listings:  12 Single Family Homes are for sale priced from $799,000 to $1,125,000.

Pending Sales:  6 Homes are in escrow priced from $837,900 to $1,020,000.

May Sales:  2 Properties closed escrow priced at $754,000 and $1,100,000.

If you're looking for a new place to hang your hat, Norma Toering & Team can help.

Previous Palos Verdes and San Pedro Market Reports

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 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

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The Palos Verdes Peninsula possesses a full portfolio of views.  Would you like ocean and island view?  We have it.  How about city lights?  Yes, lots of those available. Are you happy with a peek-a-boo view?  Those are quite common.  If only a panoramic view will do, the price will reflect a big view is included.

Many buyers want to know what a view will cost.  Sellers want to know what their view is worth. Pricing a view is one of the most subjective things an agent must do when listing a view property. History and experience helps us with this subjective and opinion filled task.

Last week my business partner and I decided to approach pricing view properties based on a more scientific approach.  Using the sales from a recent 30 day period, we compared the price ratios of homes that sold with no view, any view, ocean views and panoramic views.  We placed all single family sales in the most appropriate view slot.  We then calculated the price per square foot for averages for each type of sale.  The ratios of each category revealed rough estimates of the premium buyers place on each type of view.

The results: 

Homes with a small view sold for an average of 10% more than homes with no view.

Homes with any view sold for an average of 17% more than homes with no view.

Homes with ocean views sold for an average of 25% more than homes with no view.

Homes with panoramic views sold for an average of 40% more than homes with no view.

There are many variables in this calculation (which means it still remains very subjective) and the percentage will vary with the number of homes sold and the type of view those properties possessed.  Pricing a view home is best done by a knowledgeable and experienced agent because certain views are considered more valuable than others even though they may both be deemed panoramic.

We had fun compiling the list and assigning a value to our Palos Verdes views, but please remember the true value of view is determined by what buyers are willing to pay for view properties.

Previous Palos Verdes and San Pedro Market Reports

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 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

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Homes are selling in the Peninsula Center neighborhood of Rancho Palos Verdes.  If you cruise through the neighborhood looking for For Sale signs you will find only a few, and many of those will have a Sale Pending sign attached.  That's good news for Peninsula Center homeowners. 

Peninsula Center real estate statistics for May 2009:

Active Listings:  8 Single Family Homes are for sale priced from $899,000 to $1,299,000.

Pending Sales:  5 Properties are in escrow priced from $800,000 to $1,290.000.

May Sales:  2 Homes closed escrow at $875,000 and $1,000,000.

If you're searching for a home in Palos Verdes and need some help in finding the right house in the right neighborhood I would be happy to help.

Previous Palos Verdes and San Pedro Market Reports

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 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

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For the first time in many months there is a Palos Verdes neighborhood that has more homes in escrow than it has for sale.  The Crest neighborhood has nine homes in escrow and only six active listings.

Active Listings:  6 Single Family Homes are for sale priced from $1,079,000 to $1,250,000.

Pending Sales:  9 Single Family Homes are in escrow priced from $799,000 to $1,374,900.

May Sales:  1 Property closed escrow for $1,099,000.

House hunting is serious business.  For more information on homes in the Crest neighborhood of Rancho Palos Verdes contact Norma Toering & Team.

Previous Palos Verdes and San Pedro Market Reports

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 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

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Sales are up, inventory is limited and several homes are in escrow in the Los Verdes neighborhood of Rancho Palos Verdes.

May 2009 real estate statistics for Los Verdes:

Active Listings:  12 Single Family Homes are for sale priced from $930,000 to $1,549,000.

Pending Sales:  5 Properties are in escrow priced from $899,000 to $1,389,900.

May Sales:  2 Homes sold priced at $819,000 and $940,000.

For more information on homes for sale in Los Verdes area of Rancho Palos Verdes contact Norma Toering & Team.

Previous Palos Verdes and San Pedro Market Reports

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 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

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May was an active month for the La Cresta neighborhood:

Active Listings:  16 Single Family Homes are for sale priced from $1,050,000 to $#,150,000.

Pending Sales:  6 Single Family Homes are in escrow priced from $950,000 to $2,699,000.

May Sales:  2 Homes closed escrow priced at $1,020,000 and $1,450,000.

If there's a move in your immediate future don't hesitate to ask for help in finding the right neighborhood and the right house.  For more information on any of the homes for sale in the La Cresta neighborhood contact me and I'll supply you with the latest real estate information.

Previous Palos Verdes and San Pedro Market Reports

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 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

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Los Verdes Golf Course is located in the Country Club neighborhood of Rancho Palos Verdes.  Country Club is also home to Ralphs -- so most homes in Country Club are no more than five to ten minutes from a grocery store.

Active Listings:  11 Single Family Homes are listed for sale priced from $1,360,000 to $3,150,000.

Pending Sales:  5 Single Family Homes are in escrow priced from $1,219,000 to $1,2999,900.

May Sales:  1 Property closed escrow for $2,155,000.

For more information on any property for sale, in escrow, or sold contact me and I'll be happy to provide more detailed information.

Previous Palos Verdes and San Pedro Market Reports

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 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 Homes for Sale Blog - Palos Verdes Real Estate
Boitano Palms Horse Property - View Homes in PV

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