Jack Cummings’ 2501 Via Pacheco, Palos Verdes Estates (above left), is a 4 bedroom, 3 bath, 2,328 square foot home for $1,525,000.   This lower Lunada Bay home is located within walking distance to shopping and the bluffs; it is an “empty canvass” waiting for a buyer to personalize the home to their liking.  Megan Neel’s 1201 Granvia Altamira, Palos Verdes Estates (upper right), is a 3 bedroom, 3 bath, 2,591 square foot home for $1,495,000.    This remodeled Monte Malaga home is situated on 2/3 of an acre with wide lawns, gardens and a peek of a city light view.

Michael and Nadia Foster’s 22 Covered Wagon Lane, Rolling Hills Estates (above left), is a 5 bedroom, 4 bath, 4,149 square foot home for $1,699,000.  This gated Rolling Hills Park Estates home features soaring ceilings, 2 large family rooms and a saltwater pool and spa.  Steve & Ceci Watts’ 5352 Ironwood Street, Rancho Palos Verdes (above right), is a 3 bedroom, 2 bath, 1,404 square foot home for $995,000.  This extensively remodeled Silver Spur home features a fabulous outdoor entertaining area with built-in barbecue, gas fire pit, pool and spa.

Photos courtesy of MRMLS

Preliminary sales figures for Palos Verdes real estate for June 2009 show an upswing in single family homes sales compared to both May 2009 and June 2008 which is significant.  That is good news for Palos Verdes real estate!

June 2009 has 48 closed sales compared to 24 in May - twice as many sales.  And June of 2008 had only 38 closed sales compared to 48 this June.  It looks like buyers have moved ”off the fence”.   Another interesting statistic is the “mix” for last month.  As of May 31st, nearly 50% of the sales this year were under $1,000,000 and only about 8% were over $2,000,000.  In June, 39% of the sales were under $1,000,000 and 8% were over $2,000,000 which means that our mid-price range of $1,000,000 - $2,000,000 made up 53% of the sales.  Of the 90 single family homes in escrow, only 33% are under $1,000,000 and 13% are over $2,000,000.  Again, this is good news for Palos Verdes real estate. 

Final June statistics will be available at the end of the week.  

Mortgage rates have been see-sawing up and down a bit for the Palos Verdes real estate market.  A 30-year fixed conforming loan is 4.875% which is a quarter percent higher than 2 months ago and a quarter percent lower than last week.  A 5/1 Year ARM is 3.875% and a 5/1 Interest Only loan is 4%.

30-year Fixed Jumbo rates are 6.125% for borrowers with FICO scores over 740 and 30% down.  A jumbo 5/1 Year ARM is 5.125% and a 5/1 Interest Only loan is 5.25%.

A mortgage broker I spoke with expects interest rates to continue their up and down cycle through the end of the year as the loan market reacts to the ups and downs of the stock market and consumer confidence.

 

Fourth of July on the Palos Verdes Peninsula will be celebrated at two special public events.  There will also be several local firework displays in the evening.

This year Palos Verdes Estates will be holding their48th Annual Independence Day Celebrationat Lunada Bay School, 520 Paseo Lunado.  The festivities are free to the public and will begin at 9:45 a.m. with entries into the Apple Pie Contest followed by the Children’s Decorated Bike/Scooter Parade at 10:00 a.m.  There will be music and family games for all ages.  Everyone is welcome to bring picnics to enjoy on the lawn.

Rancho Palos Verdes will be hosting their 34th Annual Independence Day Celebration at Point Vicente Park/Civic Center at 30940 Hawthorne Boulevard from 11:00 a.m. to 5:00 p.m.  There will be Rides & Games, Arts & Crafts Booths, Music, Pie Eating Contest & Hula Hoop Contest, Petting Zoo and Helicopter Rides.  Admission is free, on-site parking is $4 per vehicle and free shuttle service is provided along Hawthorne Blvd. 

Fireworks can be seen in the evening at the Redondo Beach Pier/Seaside Lagoon at 9:30 p.m.,  at Torrance’s Charles Wilson Park at 9:00 p.m. & the Barge off the Coast of Torrance Beach at 9:00 p.m., and at Cabrillo Beach in San Pedro at 9:00 p.m.  More information on fireworks displays can be accesses by clicking here.  

Photo courtesy of City of Rancho Palos Verdes

Free summer fun in Palos Verdes Peninsula is not just for owners of Palos Verdes real estate, but is open to all.  Here are some of the events to chose from this summer:

The Lunada Bay Homeowners Association will be hosting “Summer Concerts in the Park” at Lunada Bay Park, Palos Verdes Estates, from 6:00 p.m. to 8:00 p.m. on July 9 (Beth Rhode & Guests - Brazilian Jazz) and July 26 (Marti Harris & Friends - Jazz).  It is recommended that you brig low beach chairs or blankets and a picnic dinner and enjoy the music.

The Malaga Cove Business & Professional Association in cooperation the The Palos Verdes Police Officer’s Association presents “Summer Concerts in the Park” at Farnham Martin’s Park next to the Malaga Cove Library in Palos Verdes Estates on Wednesdays at 7:00 p.m. in July and August.  You may bring your blankets at 3:00 p.m to save a spot.  The concert schedule is:

• July 8  -  Lori Andrews jazz harpist & Bart Samolis bass
• July 15 - Bryce Martin flute & Natalia Dalsheart piano
• July 22 - Boomer McClennan & The Rhythm Rangers
• July 29 - Bad Haggis
• Aug. 5  -  Banshee in the Kitchen
• Aug. 12 - Yussi & Piratas de Amor
• Aug. 19 - Jim Sitterly & the Champs
• Aug. 26 - Bill Horn

Shakespeare By The Sea - As You Like It will be performed at Hesse Park in Rancho Palos Verdes at 7:00 p.m. on Sunday, July 5th.  This will be held outdoors; bring your own low beach chairs or blankets. 

Photo courtesy of LBHOA

Nick Peters’ 22 Oceanaire Drive, Rancho Palos Verdes (above left), is a 5 bedroom, 3 bath, 3,349 square foot home for $1,399,000.  This well-priced Del Cerro home has a pool, large 20,080 square foot lot, and a 3-car garage.  Ceci Whetsell’s 27520 Elmbridge Drive, Rancho Palos Verdes (above right), is a 4 bedroom, 3 bath, 2,189 square foot home for $1,295,000.  This Peninsula Center tri-level home has city views, an updated kitchen, and family room.

Steve Simonetti and Debbie Allen’s 2220 Chelsea Road, Palos Verdes Estates (above left), is a 3 bedroom, 2 bath, 1,922 square foot home for $1,349,000.  This lower Lunada Bay home has an ocean view and is a short walk to the ocean bluffs.  Nicholas Phillips’ 27153 Fond du Lac Road, Rancho Palos Verdes (above right), is a 3 bedroom, 2 bath, 2,104 square foot home for $975,000.  This Silver Spur home has a skylight in the sunny kitchen, a family room and swimming pool.

Photos courtesy of MRMLS

After being inspired by the oceanfront trails at Terrenea, I was on a quest to find other hikes and trails on the Palos Verdes Peninsula.  I came across an excellent book compiled by the Palos Verdes Peninsula Land Conservancy entitled, “Best Hikes On The Palos Verdes Peninsula”.

The book lists 32 separate trails and specifies the round trip distance, the highest & lowest elevation of the trail, directions to the trail head & where to park, and what amenities (public restrooms, picnic tables, etc) if any.  There are also aerial photos of the trail as well as photos highlighting various points along the way.

As an example, Ocean Estates Trail (as described in my 8-29-08 post) is mentioned as part of the “PVIC to Oceanfront Estates Bluff Trail” which is 2.2 miles round trip.  You begin the hike at Palos Verdes Interpretive Center, 31301 Palos Verdes Drive West, Rancho Palos Verdes which has picnic tables,  restrooms and water fountains.  “The trail is nicely maintained decomposed granite, suitable for wheelchairs and strollers.”  The highest elevation is 164 feet and the lowest elevation is 108 feet.

The Palos Verdes Land Conservancy can be reached at 310-541-7613 or their website can be accessed by clicking here.

After spending last weekend at the new Terranea Resort,  I can say that it is fabulous and I recommend it to all, including Palos Verdes residents.  The views are spectacular.  We took several walks along the trails at the ocean’s edge.  We walked down to the beach and sat on the rocks and listened to the surf “chatter” as it rolled back out over the stones.  There is even a cave near the jetty.  We laid on sand and took in the beauty of nature.

We ate at several of the restaurants.  The Catalina Grill served an excellent dinner and we also enjoyed the Sunday brunch.  We enjoyed snacks from the Terrenea Grill around the pool.  My son loved the water slide and the very large pool more than accommodated my lap swimming.  There are also two other pools -  at the Spa and the Adult Pool.   At Sea Beans, we enjoyed coffee, gelato, pastries and cupcakes.  We did not get to eat at Mar’sel as it is only open for dinner and was booked both last weekend and this coming weekend!

We toured the Spa which looked fabulous but I did not have time to enjoy any treatments as we were in “explore” mode.  We actually forgot that we were only 15 minutes from home.  We have never spent so much time on our own coast.  It has inspired us to explore our beautiful Peninsula!  We plan to go back again, in the Fall for our anniversary and take advantage of the 25-50% discount (if you book online before June 28th for stays before December 30, 2009). 

There are currently 32 casitas and villas for sale (50 have already sold) between $2,225,000 and $4,500,000.  Owners, of course, have access to all the amenities of Terranea  including resort facilities, housekeeping, etc.  You can stay in your unit 60 days (casitas) or 90 days (villas) per calendar year and rent them out the rest of the year.  

Statistics for single family homes for the month of May for Palos Verdes real estate are now available.   May 2009 had 5 less closed sales and 19 less pending sales than April 2009.  Inventory of active listings/homes for sale fell to 281 in May.  The average price for homes that closed in May fell 5.7% and the average days on market also decreased.

For the month of May, there were 24 closed sales (29 in April) and 22 pending sales (a restated 41 pending sales in April).  Active single family homes for sale in Palos Verdes fell to 281 (from 291 in March).  Average price for homes that closed in May decreased to $1,356,000 from $$1,438,000 in April.  Average days on market in May decreased to 86 (from 102 in April).  Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 11.7 (from 10 in April).  Entire charts can be accessed by clicking here or on the “Statistics” tab above.

Currently, there are 296 single family homes for sale on the Palos Verdes Peninsula.  Additionally, 47 homes have pending sales, 45 homes are in escrow accepting backup offers and 19 homes have sold/closed escrow in the first 15 days of June.  We have almost met the total number of sold/closed escrow for all of last month and we are only half way through June!

Cheryl Rau and Robin DeBraal’s 1640 Chelsea Road, Palos Verdes Estates (above left), is a 5 bedroom, 4 bath, 3,3573 square foot home for $2,900,000.  This Lower Lunada Bay has been recently remodeled and features a gourmet kitchen, ocean views and pool & spa.  Robert Bardarich’s 11 Albero Court, Rancho Palos Verdes (above right), is a 4 bedroom 4 bath, 3,470 square foot home for $1,915,000.  This Peninsula Pointe home built in 1999 has fabulous coastline views of all 4 points down to Point Fermin.

Gayle Probst’s 31416 Marne Drive, Rancho Palos Verdes (above left),  is a 4 bedroom, 4 bath, 3,421 square foot home for $1,350,000.  This Monaco home has ocean views,  huge flat yard, family room and is on a cul-de-sac.  Mickey  Turner’s 728 Via Del Monte, Palos Verdes Estates (above right), is a 3 bedroom, 3 bath, 2,325 square foot home for $2,349,000.  This newly completed Malaga Cove home has a stunning Queen’s Necklace Coastline View, gourmet kitchen and a family/game room.

Photos courtesy of MRMLS