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The Palos Verdes Peninsula luxury real estate market typically moves slower when compared to the Beach Cities these days. Farther removed from major economic centers like Downtown L.A., Santa Monica, the Miracle Mile, and Silicon Beach, the pool of wealthy buyers is smaller in Palos Verdes than areas like Manhattan Beach, Beverly Hills, or Brentwood, to name a few. That said, the past couple years for luxury sales has slowed for Sellers on the Palos Verdes Hill. In “boom” years like 2014 and 2015, the Palos Verdes Peninsula had home sales of $6 million or above much more frequently, with 12 sales and 13 sales respectively. Most notable was in 2015 when those 13 sales of
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The Palos Verdes Peninsula is known for its single-family homes and suburban location. Prices here in many cases can be more affordable than the beach cities, but it is still not cheap! If you are looking to make a move to Palos Verdes but do not need the larger single-family home just yet, the condo listings throughout The Hill present HUGE value relative to single-family home prices in the area. There are condo options at a fraction of the cost to homes on the Hill and these can be a great starter option for buyers on a budget looking for a lot of bang for their buck. Rolling Hills Estates Condos Rolling Hills Estates has the
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The title of this post is a matter of opinion but it is tough to argue to the contrary. Armed with single-family homes, large lots, and some of the best schools in Southern California, Palos Verdes homes are offering an incredible bang for your buck today. If you know where to look and have some patience, you can land yourself a fabulous deal relative to the beach city markets. And in some cases, a better value compared to inland real estate markets too. This blog will break down some really fantastic deals that are tough to beat anywhere else in the South Bay. I will also highlight some current listings that have the potential to be
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Some of the most desirable real estate in all of the South Bay, maybe even all of Los Angeles County, exists atop the Palos Verdes (P.V.) bluffs. The combination of privacy, big views, and the sound of waves crashing is virtually unmatched in Southern California. A majority of these bluff top homes are located in Lunada Bay. That said, Malaga Cove, West Palos Verdes, and even the Palos Verdes (P.V.) Drive South areas have a few fabulous bluff properties to offer from time to time. 2017 Bluff Sales Probably the most fruitful year of recent memory for bluff sales was 2017. The old Toyota Motor Sales home that had been owned by the company since 1988
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The Palos Verdes Estates sub-market of Monte Malaga, known for its high-priced estate homes and stunning views, is beginning to offer lower-priced homes for first time home buyers. Surprised? When most Palos Verdes Estates (P.V.E.) residents think of homes in Monte Malaga, they think of streets like Via Visalia, Via Rincon, Paseo Del Sol, Via Arco, Paseo La Cresta, and of course, New York Hill, a.k.a. “Allende El Mar”. These streets are lined with gorgeous estates, stunning views, and some of the highest prices on The Hill. High-priced sales of note this year include: 1414 Paseo La Cresta: $8,00,000 (the almost 10,000 sq. ft. home named “Versailles on the Hill”) 1409 Via Arco: $4,757,000 (the custom
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The second half of August can really slug along in the South Bay as agents and clients are wrapping their last summer vacations. Most agents will hold off from listing their new inventory until Labor Day. For this week’s blog, I will be diving into some interesting South Bay sales that all occurred last week. Manhattan Beach 2200 Harkness Street sold for $2,780,000 (5 bed, 5 bath, 3,578 sq. ft., new construction) This Liberty Village new construction sale is a perfect example of Manhattan Beach buyers’ insatiable appetite for new construction. In April, a comparable sale at 1401 Lynngrove Drive sold at a record price of $2.68 million, but Harkness, only four months later, cleared at
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Most of my blogs consist of analyzing sales, appreciation, and under-priced deals. Today, I want to focus on a market that is larger than the for sale market in Los Angeles County: Rentals! Rentals are an extremely important part of the real estate economy and should be considered as part of anyone’s real estate strategy. Renting in Palos Verdes Estates Palos Verdes Estates tends to be heavily dominated by owner-occupants, so leases in this area are harder to find than in the beach cities or surrounding South Bay communities. Even though rental supply is restricted in Palos Verdes, the demand is not as high as you might think because most people moving to The Hill prefer
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August in the South Bay tends to be a slower month for real estate. During this slow time, I thought it would be beneficial to examine different home offerings under $1 million. Palos Verdes Peninsula This may surprise some readers, but Palos Verdes does in fact have inventory under $1 million. Most of these listings exist in Rancho Palos Verdes on the east side of The Hill. Asking $1 million on the dot, 5320 Ironwood Street is located in the popular Silver Spur area. This home can certainly be had under that $1 million price tag if you are looking for a fixer in a great school district. You will not find single-family homes under $1
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Home Styles For years, home buyers have been shying away from the once popular architectural favorite: Mediterranean. This home style was all the rage for Baby Boomers in the 90s and early 2000s, and was a dominant style in Palos Verdes Estates (PVE) new construction over the years. Along with Mediterranean construction, PVE is home to many Spanish, mid-century modern, and contemporary homes, making today’s present day quest for “charm” a tough task for many buyers looking in the area. Outside of original ranch homes, which tend to be on the smaller side, it can be difficult to find the in-trend styles many buyers are looking for these days. What are some of those styles you
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If you read the title and thought, “Well, if the sale was not in Manhattan Beach then it must be the $40,000,000  home on Buggy Whip Drive in Rolling Hills.” That is a good guess but nope, not even close! Hermosa Beach? Nope. Redondo Beach? Getting warmer… The answer is Torrance. The Record Sale Last month, 417 Paseo de la Playa, Redondo Beach 90277 sold for a record $22,650,000. But wait, I thought you said Torrance, Richard? It is in Torrance! The property sits in an area little written about in my blog, but very much a South Bay location, known as Hollywood Riviera. This sub-market (area 128 on the MLS) is within the city of
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