July 2013

Rolling Hills–Lesson in Living the Understated Luxury Lifestyle

By | July 31st, 2013|An Agent's Life, Favorite Photos - Palos Verdes, Front Page, Lifestyle in Palos Verdes, Palos Verdes, Rolling Hills|

  One of the rewards of previewing new listings is much like Forest Gump's description of a box of chocolates, "You never know what you're gonna get." Yesterday's first step through the front door of 2 Pine Tree Lane in Rolling Hills (the little gated city at the top of the Palos Verdes Peninsula) offered a delightful taste of living the understated Palos Verdes lifestyle.  As the listing agent approached, and while still standing in the entry, I said, "I like it already." Sometimes it only takes a moment.  I guess I do believe in love at first sight, at [...]

Why Are Four Unit Buildings in High Demand by Investors?

By | July 30th, 2013|Beach Cities, Buyer Tip, Front Page, Hermosa Beach, Income Property, Los Angeles, Manhattan Beach, Palos Verdes, Palos Verdes Estates, Rancho Palos Verdes, Redondo Beach, Rolling Hills Estates, San Pedro, Seller Tip|

  Norma Toering & Team submitted an offer on a four unit residential income property located in the beach cities yesterday.  The listing agent thanked me for the offer and revealed it is one of several offers submitted.  Why are four unit income properties in such high demand by investors?  The answer is simple--it's the financing.  Apartment buildings of four units or less fall within the 1-4 units residential financing guidelines.  Once you make the leap to five plus units, it is considered a commercial building and requires a commercial loan. Most investors want to leverage the purchase in the future [...]

Sold by Toering and Team – Steps from the coast of Palos Verdes

By | July 29th, 2013|An Agent's Life, Favorite Photos - Palos Verdes, Front Page, Lifestyle in Palos Verdes, Palos Verdes Drive South, Rancho Palos Verdes|

One of our buyers just picked up their new keys to this amazing coastal home in Palos Verdes.  Located in the Portuguese Bend Beach Club in Rancho PV, these happy new "weekend home" owners fell in love with the dazzling views, resort feel and "Hawaii" style privately owned beach that this gated community offers. Over the course of the purchase escrow, our clients said many times: "Every time we visit, it just gets better."  Indeed. - Norma & Josh (310) 493-8333 or Email us! Portuguese Bend Beach Club in Palos Verdes Our coastal homes blog - Homes for sale in [...]

Horse Property in Rolling Hills on the Palos Verdes Peninsula

By | July 29th, 2013|Front Page, Horse Property, Lifestyle in Palos Verdes, Palos Verdes, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates|

Rolling Hills, California routinely makes the list of Safest Cities in America, and Richest Cities in America.  This gated city located at the top of the Palos Verdes Peninsula offers one of the most prestigious addresses in Southern California. There are currently 15 Rolling Hills properties for sale ranging in price from $1,225,000 to $53,000,000. 19 Rolling Hills properties sold  in 2013 as of July 28.  Several of these properties are equestrian estates with acreage, breathtaking views and other amenities you expect to find in multi-million dollar estates. However, you do not have to own horses to live in Rolling Hills.  Residents of Rolling Hills enjoy [...]

Not Every Caller Wants to Buy or Sell

By | July 25th, 2013|An Agent's Life|

Unlike the public's perception of taking million dollar listings and selling mega homes all day long, the majority of the calls this real estate professional receives are consumers with questions, past clients with requests and all too often a salesperson hyping the next great tool or magical marketing technique for real estate agents. Today's To Do List prompted this post.  Yes, I hope to hear a prospective buyer wants to submit an offer on a new listing we discussed yesterday, but most of my day will be spent providing "free" real estate related services along with some educational marketing efforts. [...]

South Bay Property Value Increases – June 2012 to June 2013

By | July 24th, 2013|Front Page, Hermosa Beach, Los Angeles, Manhattan Beach, Palos Verdes, Palos Verdes Estates, Palos Verdes Peninsula, Rancho Palos Verdes, Redondo Beach, Rolling Hills, Rolling Hills Estates, San Pedro, Torrance|

All the cities in the South Bay have had significant property value increases in the latest year-over-year statistics review.  These are the June reports based on the full May 2012 to May 2013 data, with all single family homes and condos/townhomes included. Up 19.3% - Rolling Hills Up 15.1% - Rolling Hills Estates Up 9.5% - Palos Verdes Estates Up 14.8% - Rancho Palos Verdes Up 4.9% - Palos Verdes Peninsula (unincorporated) Up 22.8% - Manhattan Beach Up 19.6% - Hermosa Beach Up 17.4% - Redondo Beach Up 14.3% - Torrance Up 20.8% - El Segundo Up 19.1% - San [...]

Residential Income Property in Los Angeles County’s Beach Cities

By | July 24th, 2013|Beach Cities, Front Page, Hermosa Beach, Income Property, Lifestyle in the Beach Cities, Manhattan Beach, Redondo Beach|

Demand is high and competition is keen, but it is possible to purchase multi-family income property in the beach cities of the South Bay area of Los Angeles County:  Manhattan, Hermosa and Redondo Beach. Earlier this year Norma Toering & Team represented the buyer on a fourplex purchase in Redondo Beach.  There were seven offers on the property.  I knew  any offer would need to be clean and at asking price if we hoped to secure a place in the final counter.  The seller countered only cash offers with short escrow periods.  Fortunately, our buyer's offer was selected and 14 [...]

Palos Verdes Housing Market Update – (Video) – July 2013

By | July 19th, 2013|Palos Verdes, Palos Verdes Estates, Palos Verdes Luxury Homes, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates|

Palos Verdes Housing Market Update - (Video) - July 2013 - Norma (310) 493-8333

Closing Statements Can Be Confusing, Read Them Anyway

By | July 17th, 2013|An Agent's Life, Buyer Tip, Front Page, Seller Tip|

It may not sound like much, but yesterday while reviewing a final closing statement for a buyer a little red flag was hoisted regarding a quarterly bill that was to be split between buyer and seller based on the close of escrow date.  A quick review of the bill confirmed the error. It wasn't much but hey, $50 is $50 dollars. Many buyers and sellers are inundated with documents, forms, instructions and disclosures requiring their approval during the transaction.  By the time the estimated closing statement arrives they are thrilled the end is in sight and often glance over the [...]

Higher Interest Rates Affect Sellers Too

By | July 8th, 2013|Beach Cities, Buyer Tip, Front Page, Los Angeles, Palos Verdes, Seller Tip|

  It is easy to understand how higher interest rates impact buyers; when rates move higher so does a buyer's monthly mortgage payment.  The higher rate means a buyer may not qualify for the loan amount they could get at the lower rate, and may need to adjust their new  home criteria downward. Buyers need more income to qualify for the same loan, their dream home must be downsized and their payments will be higher.  Ouch.    Sellers will feel the effect too.  When the same home costs a buyer more to purchase the trickle down result is they are [...]