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The real estate market in the City of Rancho Palos Verdes has slowed over the last several months. The level of inventory of homes for sale of 83 homes at the end of May is up about 36% compared to the end of May last year. The average number of homes sold per month over the last 3 months of 28 homes per month, is 22% lower than the comparable 3 month period last year. There are 37 homes in escrow at the end of May however. Click here for a [...]

Interest rates for buying a home on the Palos Verdes Peninsula increased slightly this week. It is interesting to note that jumbo mortgages ( in excess of $625,500 ) have interest rates available below conforming loans. The following are excerpts from the newsletter on interest rates published by HSH Associates : "The din of economic news continues to point to stronger growth as the spring has progressed, but mortgage and other interest rates have mostly ignored that message so far, as they have been mostly easing rather than firming. Although the [...]

There are 49 homes listed homes listed for sale in the City of Palos Verdes Estates at the end of May, which is 4% higher than this time a year ago. The number of homes sold over the last 3 months, averaging 14 sales per month, is the same as sales during 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 [...]

Many realtors in my local real estate market look with envy to Realtors who have a listing of a home above $4,500,000. What they do not realize is how tough of a market this segment is . The following is a chart for homes for sale or sold on the Palos Verdes Peninsula for a price in excess of $4,500,000: There are currently 30 homes listed for sale for a price in excess of $4,500,000 with only 7 homes in that price range selling in the last 6 months. 3 homes [...]

The Palos Verdes Peninsula real estate market has two market segments that are strong; those homes listed for less than $1,250,000, and those between $1,250,000 and $1,500,000. Where is the sweet spot in this market? The following is a chart of homes listed for sale and sold for less than $1,250,000: The inventory of homes in this price segment is up significantly, with sales averaging about 20 homes per month, or about a two month supply, but with only 15 homes currently in escrow. The following is the same chart for [...]

Interest rates for buying a home on the Palos Verdes Peninsula dipped slightly again last week to new lows for 2014. It is interesting to note that jumbo mortgages ( in excess of $625,500 ) have interest rates available below conforming loans. The following are excerpts from the newsletter on interest rates published by HSH Associates : "It's another surprising week for mortgage rates, as they continue to wander a gentle easing pattern. At present, we are at just about year-ago levels, with rates roughly equivalent to those seen in the [...]

The new head of the Federal Housing Finance Agency, Mel Watt, who leads the two government sponsored enterprises ("GSE") Fannie Mae and Freddie Mac, has recently indicated that he will be promoting new policies which should lead to easing of mortgage credit standards somewhat. The following are excerpts from the monthly interes rate newsletter of HSH.com: "Low interest rates are fine, but an incomplete expression when it comes to stimulating housing. Tight underwriting standards are keeping at least some folks at bay, or otherwise adding to already diminished affordability, what with [...]

The real estate market in the City of Rancho Palos Verdes has slowed over the last several months. The level of inventory of homes for sale of 72 homes at the end of April is up about 22% compared to the end of April last year. The average number of homes sold per month over the last 3 months of 22 homes per month, is 37% lower than the comparable 3 month period last year. There are 30 homes in escrow at the end of April. Click here for a current [...]

The City of Rolling Hills had the following real estate market activity for single family residences during April 2014: Properties Sold: 3 Address Sales Price Bd Bth Sqft $/Sq Yr Built MLS# Sold Date Days to Sell 10 Bowie RD $2,000,000 4 4.00 3,332 $600.24 1959 OC13136895 4/08/14 2592 Saddleback RD $2,925,000 5 4.00 5,120 $571.29 1969 PV13202203 4/21/14 1607 Acacia RD $4,500,000 5 7.00 5,340 $842.70 1937 SB14009998 4/30/14 187Average $3,141,667 5.0 5.00 4,597 $683 202 Properties for Sale as of 4/30/14: 19 Click Here for Current Search for homes [...]

The number of properties on the market in Rolling Hills Estates ( including the unincorporated area of Palos Verdes Peninsula ) is 18 homes at the end of April, a 5% decrease from the prior year. The number of properties sold monthly over the last 3 months is averaging 7 sales a month, 30% less than the comparable period last year. There are 17 homes in escrow as of the end of April, however, a substantial increase over the last 7 months. Click Here for a current search of homes for [...]

Interest rates for buying a home on the Palos Verdes Peninsula dipped slightly last week to new lows for 29014.The following are excerpts from the newsletter on interest rates published by HSH Associates : "Important economies around the world are struggling, and we may be on the verge of a Euro-style QE program before too much more time passes. Efforts over there to produce more inflation and growth are beneficial to mortgage borrowers here for a number of reasons, not the least of which is that yields on our relatively safe-and-secure [...]

WONDERFUL OCEAN FRONT CONDO 3200 La Rotonda #104, Rancho Palos Verdes MLS# PV14098068 Listed $ 864,800 This home is a beautifully remodeled 3 bedroom and 2 bath 1,527 SF Condo located in the desirable Ocean Terrace Complex adjacent to the Trump National Golf Course. Numerous upgrades to the unit include remodeled kitchen and bathrooms. Ideally located in the "Front" building on the ocean side, with spectacular Ocean, Catalina, Trump National G.C. & Coastline Views. This condo is on the first floor with the HOA amenities and overlooks the golf course with [...]

Interest rates for buying a home on the Palos Verdes Peninsula moved to new 2014 lows.The following are excerpts from the newsletter on interest rates published by HSH Associates : "It was just about a year ago when Federal Reserve Chairman Ben Bernanke revealed that the Fed would eventually stop purchasing Treasuries and Mortgage-Backed Securities. In the weeks that ensued, mortgage rates bounded higher, eventually totaling a rise of about 120 basis points from 2013 bottoms, crushing refinance activity and leaving investors wondering just how quickly the Fed would end QE [...]

Interest rates for buying a home on the Palos Verdes Peninsula dipped slightly this week.The following are excerpts from the newsletter on interest rates published by HSH Associates : "An ongoing litany of economic data suggests that we're back on a growing path after a rough winter; that stumbling period produced some of 2014's lowest mortgage rates. However, in recent weeks the temperature of the economic data has tuned decidedly warmer, and it is supposed that mortgage rates would be firming along with the economy... except they're not. Even a typically [...]

2014 1st Quarter Market Report Palos Verdes Peninsula and South Bay Single Family Homes The real estate market sales activity for the Palos Verdes Peninsula slowed down during the 1st quarter 2014 with overall sales volume down about 26% and the inventory of homes for sale up 35% compared to the first quarter 2013 sales, which is equal to about 3 months of inventory. Pricing has been increasing, however, and buyers who can get financing are actively looking and aggressively offering where they see a deal. Sellers who are motivated to [...]