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Interest rates for buying a home on the Palos Verdes Peninsula moved up this week to levels not seen since May of this year.The following are excerpts from the newsletter on interest rates published by HSH Associates : "Anyone who follows the economic tides should have been expecting this week's small upward pop in mortgage rates. After all, we've had pretty solid figures regarding growth for several months now, all with nearly no effect on interest rates. We generally had more of the same this week, but also got some clarity [...]

The number of properties on the market in Rolling Hills Estates ( including the unincorporated area of Palos Verdes Peninsula ) is 23 homes at the end of August, a 35% increase from the prior year. The number of properties sold monthly over the last 3 months is averaging 10 sales a month, 25% higher than the comparable period last year. There are 15 homes in escrow as of the end of August however, a substantial increase over the last 3 months. Click Here for a current search of homes for [...]

The Lunada Bay area of Palos Verdes Estates ( area 160 in map below )had the following real estate market activity for single family residences during August 2014: Properties Sold: 8 Address Price BR BA Sq.ft. $/Sq.ft Date Blt MLS # Closing Date Days on Market 1137 Via Coronel $1,150,000 3 2.00 1,741 $660.54 1957 OC14125087 8/29/14 70 2809 Via Rivera $1,515,000 4 3.00 2,634 $575.17 1967 PV14137018 8/01/14 11 2920 Via Pacheco $1,600,000 4 4.00 2,700 $592.59 1964 PV14106796 8/14/14 85 2568 Via Sanchez $1,708,000 5 4.00 3,988 $428.28 1977 [...]

There are60 homes listed homes listed for sale in the City of Palos Verdes Estates at the end of August, which is 76% greater than this time a year ago. The number of homes sold over the last 3 months, averaging 18 sales per month, is the same asduring the same period last year . This equates to a bit more than 3 months of inventory, based on the average sales per month over the last 3 months, historically very low.The number of homes in escrow at the end of August [...]

The level of inventory of homes for sale of 117 homes in the City of Rancho Palos Verdes at the end of August is up about 41% compared to the end of August last year. The average number of homes sold per month over the last 3 months of 38 homes per month, is 5% lower than the comparable 3 month period last year. There are 42 homes in escrow at the end of August . Click here for a current search of homes for Sale in Rancho Palos Verdes. Aug. [...]

The number of properties listed for sale for the overall Palos Verdes Peninsula at the end of August of 218 properties is 48% greater than the same time last year, however the average number of homes sold per month of 69 over the last 3 months is the same as the comparable period last year. Pending sales in escrow has been level with 70 homes in escrow at the end of August, forecasting continuing steady sales over the next two months. Click Here for a search for all homes listed for [...]

Port of Los Angeles Lobster Festival Coming Next Weekend When: 5-11 p.m. Sept. 12, 11 a.m.-11 p.m. Sept. 13, 11 a.m.-7 p.m. Sept. 14. Where: Ports O€™Call Village, Berth 76, Nagoya Way, San Pedro. Tickets: $10, free for children 12 and younger. Information: 310-798-7478, lobsterfest.com. For more information about Palos Verdes and South Bay Real Estate and buying and sellinga homeon the Palos Verdes Peninsula, visit my website at https://www.maureenmegowan.com. I try to make this the best real estate web blog in the South Bay Los Angeles and the Palos Verdes [...]

Debt Forgiveness - Federal and California Tax Issues For most states, other than California as explained below, 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 [...]

Louis €œLouie€ Zamperini Louie Zamperini is one of the greatest South Bay heroes who have ever lived. Louis Zamperini was born January 26, 1917 inOlean, New York, to Italian immigrants Anthony Zamperini and Louise Dossi. In 1919, the family moved to Torrance. Louis had a troubled childhood, and it is said that he developed his extraordinary running talents from out running the local police. Louie attended Torrance High. To counter Louie€™s tendency to get into trouble, his older brother Pete encouraged Louis to join the track team. .Louie excelled in the [...]

Chandler Quarry / Chandler Ranch Project The 91 acre Chandler Sand and Gravel Quarry, located on Palos Verdes Drive East between Palos Verdes Drive North and Pacific Coast Highway opened in 1934. The Quarry was originally owned by the Portland Cement Company. Shortly after forming his own trucking company in 1939, Linden Harold Chandlerbought 5 acres of land in the Quarry, and in 1945 he was able to purchase the gravel pit and 600 additional acres of land for $1 million. The family accumulated a large amount of land holdings in [...]

The number of properties on the market in Rolling Hills Estates ( including the unincorporated area of Palos Verdes Peninsula ) is 29 homes at the end of July, a 53% increase from the prior year. The number of properties sold monthly over the last 3 months is averaging 13 sales a month, 30% higher than the comparable period last year. There are only 6 homes in escrow as of the end of July however, a substantial decrease over the last 3 months. Click Here for a current search of homes [...]

The Lunada Bay area of Palos Verdes Estates ( area 160 in map below )had the following real estate market activity for single family residences during July 2014: Properties Sold: 11 Address Price BR BA Sq.ft. $/Sq.ft Date Blt MLS # Closing Date Days on Market 1036 Via Fortuna $1,205,000 4 3.00 2,088 $577.11 1962 PV14112416 7/23/14 341720 Palos Verdes DR W $1,490,000 4 3.00 2,186 $681.61 1959 SB14060386 7/09/14 771016 Via Fortuna $1,562,144 5 3.00 2,761 $565.79 1960 PV14101966 7/03/14 521716 Dalton Road $1,615,000 5 3.00 3,612 $447.12 1976 SB14055049 [...]

The City of Rolling Hills had the following real estate market activity for single family residences during July 2014: Properties Sold: 3 Address Sales Price Bd Bth Sqft $/Sq Yr Built MLS# Sold Date Days to Sell 4 Hackamore RD $2,100,000 3 4.00 2,817 $745.47 1959 PV14081742 7/01/14 4611 Buggy Whip DR $2,785,000 5 6.00 5,107 $545.33 1964 SB13191833 7/14/14 29347 Eastfield DR $2,910,000 4 5.00 4,295 $677.53 1953 SB14110331 7/17/14 47Average 2,598,333 4.0 5.00 4,073 $638 129 Properties for Sale as of 7/31/14: 20 Click Here for Current Search for [...]

Interest rates for buying a home on the Palos Verdes Peninsula decreased to 2014 lows this week.The following are excerpts from the newsletter on interest rates published by HSH Associates : "Not that it took much for them to get there, but 30-year fixed mortgage rates managed to again hit 2014 lows; it is the third such touch of the bottom for rates since May. Given the already low and stable pattern for mortgage rates over the past fourteen weeks, this isn't exactly earth-shattering news, but is is of course welcomed [...]

There are 62 homes listed homes listed for sale in the City of Palos Verdes Estates at the end of July, which is 55% greater than this time a year ago. The number of homes sold over the last 3 months, averaging 15 sales per month, is 17% less than during the same period last year . This equates to a bit more than 4 months of inventory, based on the average sales per month over the last 3 months, historically very low.The number of homes in escrow at the end [...]