Maureen Megowan's Blog

The City of Palos Verdes Estates has approved $1.2 million plan to stabilize the landslide on Palos Verdes Drive West near Via Montemar which is threatening to undermine the roadway. Approx. $500,000 may be available from Federal Stimulus money to help fund this project. The repair involveds a 50 foot wall, which would be mostlu covered by dirt, on the ocean side of Palos Verdes Drive West.

 A landslide here in the 1980's destroyed 2 homes and was blamed on faulty storm drains costing the City millions of dollars in legal settlements. As part of these settlements, the City now owns 6 homes, I believe, that the City Manager and police occupy. The City will put the job out to bid as soon as the Federal Funds are secured.

For more information about Palos Verdes Estates Real Estate  please visit my website at http://www.maureenmegowan.com  

Health oficials are telling the public that those surgical masks that you see people in Mexico wearing do very little to stop the spread of disease ( See http://www.slate.com/id/2217045/ ). They do stop the particulate matter that may be in the air if someone sneezes, but the flue virus is so small, that they have no problem going right through the mask.

10 things that do make sense if the flu pandemic actually spreads include:

1) Try to avoid large public gatherings such as sporting events

2)  Don't share drinks from the same glass. Use disposable cups or make sure you are the only one using a glass and then wash it well.

3)  Wash your hands often. This is the easiest way to avoic spreading disease.

4)  Wipe off kitchen counters and bath room counters with disinfectant wipes

5)  Use dissposable tissues rather than hanndkerchiefs.

6)  Cough into your elbow instead of your hand to avoid contaminating your hands

7)  Drink from a disposable water bottle instead of using a water fountain

8)  Don't send your kids to school if they show any signs at all of the flue, such as a fever.

9)  If you do feel flu symptoms, go to your doctor immediately and see if you are a candidate for Tamiflu. Make sure that your doctor agrees that you are at risk of having the swine flu, as indescriminate use of this drug could reduce its effectiveness if the flu virus mutates to become immune to its effect.

10)  You might consider stopping shaking hands and do what Howie Mandel does:  A fist bump

For information about buying or selling real estate on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com

The Eastview area of the Palos Verdes Peninsula had the following real estate market activity during the 1st Quarter of 2009:

Properties Sold:  5

Properties for Sale as of 3/31/09: 9

Average List Price at 3/31/09:  $ .7 million

Average Sales Price of homes sold during 4th quarter: $ .7 million

Average Price per Sq. Ft. for Properties Sold during 1st Qtr:   $371 per sq. ft.

Properties sold at an average of 98% of List Price

For more information about the Eastview area and Properties for Sale on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com

The Silver Spur area of the Palos Verdes Peninsula had the following real estate market activity during the 1st Quarter of 2009:

Properties Sold:  6

Properties for Sale as of 3/31/09: 10

Average List Price at 3/31/09:  $1.0 million

Average Sales Price of homes sold during 1st quarter: $ ,8 million

Average Price per Sq. Ft. for Properties Sold during 1stQtr:   $480 per sq. ft.

Properties sold at an average of 97% of List Price

For more information about the Silver Spur area and Properties for Sale on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com

The Peninsula Center area of the Palos Verdes Peninsula had the following real estate market activity during the 1st Quarter of 2009:

Properties Sold:  2

Properties for Sale as of 3/31/09: 8

Average List Price at 3/31/09:  $1.32million

Average Sales Price of homes sold during 1st quarter: $1.0 million

Average Price per Sq. Ft. for Properties Sold during 1st Qtr:   $359 per sq. ft.

Properties sold at an average of 95% of List Price

For more information about the Peninsula Centerarea and Properties for Sale on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com

The Los Verdes area of the Palos Verdes Peninsula had the following real estate market activity during the 1st Quarter of 2009:

Properties Sold:  3

Properties for Sale as of 3/31/09: 13

Average List Price at 3/31/09:  $1.2 million

Average Sales Price of homes sold during 1st quarter: $1.0 million

Los Verdes Street with Ocean View

Average Price per Sq. Ft. for Properties Sold during 1st Qtr:   $506 per sq. ft.

Properties sold at an average of 97% of List Price

For more information about the Los Verdes area and Properties for Sale on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com

The Crest area of the Palos Verdes Peninsula had the following real estate market activity during the 1st Quarter of 2009:

Properties Sold:  2

Properties for Sale as of 3/31/09: 12

Average List Price at 3/31/09:  $1.2 million

Average Sales Price of homes sold during 1st quarter: $ .9 million

Average Price per Sq. Ft. for Properties Sold during 1st Qtr:   $ 402 per sq. ft.

Properties sold at an average of 96% of List Price

For more information about the Crest area and Properties for Sale on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com

The following are general levels of interest rates for various loan terms for both conforming and Jumbo loans as provided by Al Hermann at al@american-california.com :

The following are interest rates quoted by Michael Cordova of Milestone Mortgage at :michaelc@milestonemtg.com

FIXED RATES CONFORMING JUMBO

Rates Points Rates Points   30-Year Fixed Rate 4.750% 1.000 6.375% 1.000                   30-Year Fixed Rate FHA 4.875%   5.250%                     HYBRID ARMS                           5/1 ARM 4.000% 1.000 5.300% 1.000                   7/1 ARM 4.250% 1.000 5.800% 1.000                   10/1 ARM   1.000 6.050% 1.000

INTEREST ONLY Rates Points Rates Points

HYBRID ARMS                         5/1 ARM 4.125% 1.000 5.500% 1.000                   7/1 ARM 4.500% 1.000   1.000                   10/1 ARM   1.000   1.000

 For more information about Financing your home purchase, visit my website at http://www.maureenmegowan.com

More and more I am reading things in the papers, magazines, blogs, and email newsletters that seem to be indicating that we may be near a point of stabilization, and at or near the bottom of this recessionary cycle. For instance, the following is a quote from an excellent newsletter that I received from HSH Associates which tracks interest rates and make economic forecasts:

"While things aren't really getting better, they do seem to have stopped getting worse, at least for the moment. Stabilization -- in home sales, job losses, and economic growth -- is a good, if tenuous, sign that actual economic recovery gets closer with each passing week. Some forecasts call for an end to the recession as soon as the end of the third quarter, while others suggest that the end of the year is a more likely date. Still, that's only five (or eight) months away; even if there's no actual "end date" it does seem more hopeful to have one to shoot for. Let the countdown begin!"

Even media reports seem to be reporting more good news every day. Recent reports have shown that the decrease in home prices in the Southern California area may also be stabilizing. Let us hope that more good news comes our way!!

For more information about buying or selling a home in the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com

A new web site at http://www.pveca.us provides Palos Verdes Estates residents with a communications tool that will allow for the exchange of ideas, promote and/or recommend improvements in City services, and, at times, provide an outlet for residents to vent their frustrations.

Periodically the web site will conduct surveys pertaining to ongoing City issues. The results of these surveys will be summarized and sent to the City. All resident comments will be anonymous. No specific information will be shared with anyone unless specifically authorized by you.

The web site was created by Jim Nyman, former mayor of Palos Verdes Estates.

For more information about Palos Verdes Estates, please visit my web site at http://www.maureenmegowan.com