Student Creates App That Could Help Save Lives

A 17-year-old Palos Verdes Peninsula High School junior creates an iPhone app for outdoor enthusiasts.

One of the reasons demand for Palos Verdes real estate is so high is because of the quality of our schools.  I’ve written and reported before on the test scores achieved by students at both Palos Verdes High School and Palos Verdes Peninsula High School (the two high schools serving homes in Palos Verdes. 

Yet test scores don’t tell the whole story do they? Sometimes hearing about the individual achievements of the students conveys the message better.  Here’s a story that demonstrates the quality of our kids and why when folks are looking to buy in the South Bay, they often choose Palos Verdes homes!

“While recently skiing at Mammoth Mountain, Nick Entin imagined the worst. He wondered what he might do if caught in an avalanche, unable to call for help.”  To read the rest of this story and to get this potentially life saving app, go here

“For 55 years Christmas has begun for the Peninsula with the Yule Parlor Parade. Each year we have been privileged to show beautiful homes decorated for Christmas. Neighborhood Church’s Yule Parlor parade has been a large part of the success that has allowed the Women’s Fellowship to give so generously to South Bay charities.”

Read more about the annual Yule Parlor Parade of beautiful Palos Verdes Estates homes by going to this link http://yuleparlorparade.org/ and to find more information on Palos Verdes real estate you are welcome to visit my website at http://www.homeispalosverdes.com

Residential Income Property in the South Bay Area of California

WHAT REAL ESTATE DOWNTURN?!?!

While the residential real estate market has been, shall we say, less than robust over the last few years, what are the facts about the residential income market?  Has that market come down at all?  And what’s an easy way to search for this type of property?

From Palos Verdes Real Estate Market Charts

You can use this easy map based search function to look for income property based on the areas you have most interest in.  Zoom in / out of the map, hold your mouse button down and move the map to bring in different locations, click on the house icons to bring up details of the properties found.  To use this function, just follow the link below.  It’s easy to find Manhattan Beach apartments, Redondo Beach income property and other multifamily investment property in the South Bay area.

and what about the high end units in the South Bay …

View High End South Bay MultiFamily Units in a full screen map

Pending home sales rose strongly in October and remain above year-ago levels, according to the National Association of Realtors®.

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, surged 10.4 percent to 93.3 in October from 84.5 in September and is 9.2 percent above October 2010 when it stood at 85.5. The data reflects contracts but not closings.

Lawrence Yun, NAR chief economist, said improved contract activity is a hopeful sign. “Home sales have been plodding along at a sub-par level while interest rates are hovering at record lows and there is a pent-up demand from buyers who normally would have entered the market in recent years. We hope this is indicates more buyers are taking advantage of the excellent affordability conditions,” he said.  You can play the video here

“Many consumers are recognizing that home buyers in the past two years have had one of the lowest default rates in history. Moreover, continued inventory declines are another healthy sign for the housing market,” Yun added.

The PHSI in the Northeast surged 17.7 percent to 71.3 in October and is 3.4 percent above October 2010. In the Midwest the index jumped 24.1 percent to 88.7 in October and remains 13.2 percent above a year ago. Pending home sales in the South rose 8.6 percent in October to an index of 99.5 and are 9.7 percent higher than October 2010. In the West the index slipped 0.3 percent to 105.5 in October but is 8.1 percent above a year ago.

“Although contract signings are up, not all contracts lead to closings. Many potential home buyers inadvertently hurt their credit scores and chances of getting a mortgage through easily averted actions, such as cancelling an old credit line while taking on a new one,” Yun said. “Such actions could unwittingly prevent buyers from obtaining a mortgage if their credit score is close the margins of qualifying, or they might get a loan but with less favorable terms.”

For more information on what is happening with Palos Verdes homes visit my website for Palos Verdes Real Estate Trends

From Palos Verdes Real Estate Market Charts