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

Today the birds are singing and the weather is sunny, a sure sign of spring.  The lawns are green from the recent rains, but oddly enough they are not sprouting enough "For Sale" signs to replenish the dwindling supply of homes on the Palos Verdes Peninsula. 

There were nine offers on a recent new listing priced well over $1,000,000. Obviously, the supply is not keeping up the demand.  Some buyers are removing themselves from the multiple offer madness after submitting many offers and always losing out to a buyer with a better offer.  From a market stopped dead in its tracks to a market moving with bullet train speed, it's a challenge to keep buyers and sellers aware of the market swings.

Sellers, if you're waiting for the spring housing market to pick up steam before listing your property, wait no longer. 

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 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. Information is deemed reliable but not guaranteed.

Find Norma on: Facebook - Twitter - LinkedIn - Email Norma

Rancho Palos Verdes Blog - Rancho Palos Verdes Homes
RPV Horse Property - Rancho Palos Verdes Listing Agent
Boitano Palms Lots for Sale - Homes with Views in RPV
Rancho PV Ocean View Homes - RPV, CA Homes
Palos Verdes Photography - Palos Verdes, CA Videos

The Palos Verdes housing market is posting some very impressive numbers for the first six weeks of 2010.

There are currently 183 Single Family Homes for sale on the Palos Verdes Peninsula.  161 Homes are priced over $1,000,000, and 79 Single Family Residences are listed for more than $2,000,000.

There are 95 Single Family Homes currently in escrow and 41 Single Family Homes closed escrow in 2010.  Wow, it has been a few years since we started the year off with so many sales. 

I think I'm going to like this year!

Thinking of selling?  There are buyers waiting to see your home! 

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 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. Information is deemed reliable but not guaranteed.

Find Norma on: Facebook - Twitter - LinkedIn - Email Norma

Palos Verdes Property Blog - Palos Verdes Estates Homes
Palos Verdes Horse Property - Palos Verdes Listing Agent
Boitano Palms Lots for Sale - Homes with Views in Palos Verdes
Palos Verdes Ocean View Homes - Palos Verdes Homes
Palos Verdes Photography - Palos Verdes, CA Videos

Palos Verdes offers a wide variety of neighborhoods and homes in almost every price range.  The lowest price home currently for sale is located in the Eastview neighborhood.  It is listed for $599,000.

The most expensive property currently for sale on the Palos Verdes Peninsula is located in Rolling Hills and is listed for $14,900,000.  It is an equestrian estate in a gated community.

There are over 200 other properties currently for sale in Palos Verdes so if you are in the market to purchase a home within the price range of $599,000 to $14,900,000 there is probably a Palos Verdes home for sale in your price range!

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 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. Information is deemed reliable but not guaranteed.

Find Norma on: Facebook - Twitter - LinkedIn - Email Norma

Palos Verdes Property Blog - Rancho Palos Verdes Homes
Palos Verdes Horse Property - Palos Verdes Listing Agent
Boitano Palms Lots for Sale - Homes with Views in Palos Verdes
Palos Verdes Ocean View Homes - Palos Verdes Homes
Palos Verdes Photography - Palos Verdes, CA Videos

The coastal location and sought-after schools support a strong real estate market on the Palos Verdes Peninsula.  However, we are not immune from market depreciation, distressed sales and unemployment.  I have more than one client in the job hunting market.

As of January 30, 2010 here is an update on Palos Verdes homes currently on the market and represented as a foreclosure or short sale:

Real Estate Owned:  2 Single Family Homes and 1 Condo.

In Foreclosure (not yet bank owned):  1 Single Family Home

Notice of Default:  2 Single Family Homes

Short Sale:  9 Single Family Homes and 7 Townhouses/Condos.

205 Properties are listed as "Standard Sale" and 22 properties are distressed sales.  Approximately 90% of all properties listed in Palos Verdes are regular sales.

This blog will track the increase and or decrease in distressed properties on the Palos Verdes Peninsula on a regular basis.  Of course, if you have questions regarding a specific property we welcome your inquiry.

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 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. Information is deemed reliable but not guaranteed.

Find Norma on: Facebook - Twitter - LinkedIn - Email Norma

Palos Verdes Property Blog - Rancho Palos Verdes Homes
Palos Verdes Horse Property - Palos Verdes Listing Agent
Boitano Palms Lots for Sale - Homes with Views in Palos Verdes
Palos Verdes Ocean View Homes - Palos Verdes Homes
Palos Verdes Photography - Palos Verdes, CA Videos

Looking back, things were not so bad for the local Palos Verdes real estate market in 2009. 

462 Single Family Homes sold in 2009.  Prices ranged from a low of $500,000 (short sale in Eastview), and two homes in Monte Malaga sold for $6,400,000, the high price of the year for Palos Verdes.

Here is the breakdown by neighborhood:

Lunada Bay:  42 Homes sold priced from $875,000 to $5,000,000

Monte Malaga:  31 Homes sold priced from $925,000 to $6,400,000

Malaga Cove:  16 Homes sold priced from $1,200,000 to $4,700,000

Valmonte:  25 Homes sold priced from $791,000 to $2,100,000

Palos Verdes Dr. North:  43 Homes sold priced from $725,000 to $1,925,000

Rolling Hills:  17 Homes sold priced from $1,300,000 to $5,500,000

Palos Verdes Dr. East:  41 Homes sold priced from $745,000 to $1,920,000

Mira Catalina:  10 Homes sold priced from $835,000 to $1,380,000

Palos Verdes Dr. South:  19 Homes sold priced from $790,000 to $3,243,700

Palos Verdes Dr. West:  17 Homes sold priced from $800,000 to $5,750,000

Country Club:  21 Homes sold priced from $855,000 to $2,155,000

La Cresta:  25 Homes sold priced from $925,000 to $1,850,000

Los Verdes:  30 Homes sold priced from $713,000 to $1,400,000

Crest:  24 Homes sold priced from $850,000 to $1,500,000

Peninsula Center:  29 Homes sold priced from $780,000 to $1,220,000

Silver Spur:  32 Homes sold priced from $655,000 to $1,100,000

Eastview:  40 Homes sold priced from $500,000 to $860,000

There are currently 183 Single Family Homes for sale on the Palos Verdes Peninsula.

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 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. Information is deemed reliable but not guaranteed.

Find Norma on: Facebook - Twitter - LinkedIn - Email Norma

Palos Verdes Homes Blog - Rancho Palos Verdes Homes
Palos Verdes Horse Property - Palos Verdes Realtor Blog
Boitano Palms Lots for Sale - Homes with Views in Palos Verdes
Palos Verdes Coastal Homes - Palos Verdes Homes

How can you find the best buys in any market?  Sometimes they stand out like a sore thumb and other times they are sleepers concealed by neglect, atrocious decorating and deferred maintenance.  Often buyers simply never see them.  If Fido is yelping in the backyard and there is no lockbox on the front door (or nearby) it soon becomes classified as difficult to show.  Even if it is an outstanding buy for one reason or another many prospective buyers may never see it.  There are too many obstacles between you and the interior.

It all begins with price.  Everyone has a budget. However, do not shop entirely by price.  Price is one of the easiest things to change through artful and intelligent negotiating if it is out of line with current market values or the condition warrants a discount.

The pretty ones are popular.  Agents like to show the in-crowd listings.  They show beautifully, they are staged to sell and often they are easy to show.  Don't be swayed by too much gloss and cosmetic glow if you are looking for a deal.  You're shopping for a diamond in the rough you can polish to your heart's content, and the hard work you're willing to do should be reflected in the price.

Shop outside the box.  Most prospective buyers have a first choice neighborhood and a list of "I wants" when they begin their search for a home.  Often the two collide with the price they can afford.  Stepping over your original boundaries may open up new neighborhoods with new opportunities.

Happy house hunting.  If you would like an experienced guide it would be a pleasure to act as your agent on your big adventure.

More Buyer's Tips from Norma!

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 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. Information is deemed reliable but not guaranteed.

Find Norma on: Facebook - Twitter - LinkedIn - Email Norma

Rancho Palos Verdes Homes for Sale - Rancho Palos Verdes Houses
Palos Verdes Horse Property - Palos Verdes Realtor Blog
Palm Desert Area Lots for Sale - Homes with Views in Palos Verdes
Palos Verdes Coastal Homes - Rancho Palos Verdes Homes

Subscribe via ActiveRain - Subscribe via Email - Start your own blog on activerain!

A prospective buyer will be coming into town in a couple weeks, yes, just in time for the Thanksgiving holiday, to shop for a home in Palos Verdes.  Today as I scrolled through the MLS and started to assemble a show list of homes, the agent's remarks on one likely candidate stated it would be off the market for the holidays.  Geez, and it was one the prospective buyer requested to see.

I will call the listing agent and try to coax her to allow the prospective buyer to tour the home.  I'll provide a pre-approval letter and verification of down payment to convince her sellers to make an exception, but I have to wonder if it's wise to miss two months of the year's supply of buyers--especially this year when the market is gathering some end of the year momentum.

My out of town buyer intends to purchase a home while he is in Los Angeles.  He is doing his homework and narrowing the selection of homes to a choice few.  We will look at eight to twelve homes.  Sellers, those are not bad odds.  I do know if I can't show it, he won't buy it.

I know the holidays are full of festivities and social calendars are often overloaded, but family and home take on a special glow during this time of year.  My buyer is shopping for just the right home for his family, and it might be the home you want to sell.

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 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. Information is deemed reliable but not guaranteed.

Find Norma on: Facebook - Twitter - LinkedIn - Email Norma

Palos Verdes Homes for Sale - Palos Verdes Houses
Palos Verdes Horse Property - Palos Verdes Realtor Blog
Palm Desert Area Lots for Sale - Homes with Views in Palos Verdes
Palos Verdes Coastal Homes - Palos Verdes Estates Homes

Subscribe via ActiveRain - Subscribe via Email - Start your own blog on activerain!

I know it's Halloween, and I am hoping this is not a prank, but I received a call from an out-of-the-country buyer who wants to buy an ocean front home.  Not in the mood for a wild goose chase or some holiday trickery, I asked some probing questions.  Satisfied with his authenticity and genuine desire to move to the area, I threw caution to the wind, delved deeper into his wants and needs and sent him information, listings and follow-up emails with wild abandon.  I welcome the opportunity to show off some of the finest homes in Palos Verdes.

However, there's nothing wrong with preventive risk management and a little insurance policy, or shall we call it proactive blogging?  If you too are wondering what's happening with coastal mega mansions during this prolonged recession, and are considering selling or buying a high-end property, here's the scoop on the luxury market on the Palos Verdes Peninsula:

42 luxury homes are for sale in Palos Verdes in the $3,000,000 and up price range.

24 of those homes are priced from $3,000,000 to $5,000,000.

18 fall into the ultra high-end of $5,000,000 and up.

Let's examine the same price range and look at sales since 2007:

61 Single Family Homes priced from $3,000,000 to $5,000,000  sold since January 1, 2007 to present.

23 of of those sales were for $5,000,000 and up.

We don't have the celebrities and movie stars of Beverly Hills and Bel Air, and our ocean front home prices are cheap compared to Malibu.  This is a peninsula and we are graced with gorgeous coastline on three sides.  We are also located on a hill so many more homes enjoy spectacular views from their strategic perches high above the Pacific Ocean.  As a matter of fact, many people have never heard of Palos Verdes and the paradise this peninsula offers. That's the one of the things I like best.  It's serene and peaceful here.

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 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. Information is deemed reliable but not guaranteed.

Find Norma on: Facebook - Twitter - LinkedIn - Email Norma

Palos Verdes Homes for Sale - Palos Verdes Houses
Palos Verdes Horse Property - Palos Verdes Realtor Blog
Palm Desert Area Lots for Sale - Homes with Views in Palos Verdes
Palos Verdes Coastal Homes

Subscribe via ActiveRain - Subscribe via Email - Start your own blog on activerain!

I'm up early and gearing up for my Wednesday morning warrior workout.  An hour of yoga followed by a five mile power walk.  It's a great way to recharge my energy batteries mid-week.  However, I must admit I combine the workout with a little real estate work too.  I'm always snapping photos and adding them to my collection of Palos Verdes photos. 

Yes, it's true.  I get to walk along the bluffs of the Pacific Ocean as the sun rises over the Palos Verdes Peninsula and attempt to capture the essence of the Palos Verdes lifestyle.  Seriously, this is my work.  It's a tough assignment, but someone has to do it. 

 Time to put on the walking shoes and hit the road!

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 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. Information is deemed reliable but not guaranteed.

Find Norma on: Facebook - Twitter - LinkedIn - Email Norma

Palos Verdes Homes for Sale - Palos Verdes Houses
Palos Verdes Horse Property - Palos Verdes Realtor Blog
Palm Desert Area Lots for Sale - Homes with Views in Palos Verdes
Palos Verdes Coastal Homes

Subscribe via ActiveRain - Subscribe via Email - Start your own blog on activerain!

Dear Mr. Recession,

I'm not sure why I think you're of the male persuasion, but I do. However, I must admit I was momentarily stunned by last night's announcement on national news:  80% of economists think the recession is over.  Yep, done, history, over.  Pack your bags, you're leaving the country!

Based on my unscientific poll of one real estate agent (that would be me) I side with the 80% using this week as my guiding North Star.  There's a new listing to post today, an offer to submit and an early email announced an offer is coming in on last week's new listing.  Two prospective buyers called yesterday and asked me to add them to my Active List.  I received three inquires on my raw land and commercial listings on LoopNet last weekend.  An investor called and said he has cash and wants to "go play" while the market is still low.  I really did not need Charles or Katie to tell me Mr. Recession is cycling his way out of the country.

So Mr. Recession, even though I adjusted to your ways, changed my strategy and modus operandi I am not going to miss you.  I will remember the lessons learned, new marketing methods found and continue to benefit from the changes made to survive your brutal ways.  You're arrival forced me to examine the way I run my business (I did not know what a blog was before you arrived), my life and re-evaluate my priorities.  Some of life's best lessons are painful to endure but generate immense growth and positive change. 

The economists have spoken.  Be on your way.  Bon Voyage!

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 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. Information is deemed reliable but not guaranteed.

Find Norma on: Facebook - Twitter - LinkedIn - Email Norma

Palos Verdes Homes for Sale - Palos Verdes Houses
Palos Verdes Horse Property - Palos Verdes Realtor Blog
Palm Desert Area Lots for Sale - Homes with Views in Palos Verdes
Palos Verdes Coastal Homes

Subscribe via ActiveRain - Subscribe via Email - Start your own blog on activerain!