90274 Zip Code Facts

The 90274 zip code includes the cities of Palos Verdes Estates, Rolling Hills Estates, Rolling Hills and the unincorporated area of Los Angeles County (Palos Verdes Peninsula).

There are 9437 households of which 87% are owner occupied;  71% are married; 35% have children.   The median home sales price is $1,225,000.  The median age of the inhabitants of this zip code is 31.88 years; 38% have a bachelor degree and 25% have graduate degrees.  83% are white collar workers, mostly in service industries and most commute by car thirty minutes to their places of work.

This information was obtained from the Realist tax portion of our Multiple Listing Service and though believed to be accurate, is not guaranteed.

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Household Problems You Can Solve

There are problems around the house that you should certainly call a professional to fix, such as a leaking roof, but here are some solutions to common problems that you can fix on your own:

Problem:  Countertop scuff

You will need a crayon, a spatula knife, and a microwave-safe bowl.  Pick the crayon whose color comes closest to matching your countertop.  Peel off the paper, place it in the bowl and place in the microwave.  Pour the hot, melted crayon onto the scuff mark and work it into the indentation with the spatula knife.  Scrape off the excess with the spatula knife.  The crayon mixture will harden and dry quickly, erasing the countertop flaw.

Problem:  Loose cabinet hinge

You will need wooden matches, wood glue and a hammer.  Remove the cabinet hinge screw.  Dab wood glue on a match and stick it into the screw holes.  Tap it in with the hammer.  Break off the match part that is sticking out.  Let the glue dry for about four hours.  Twist the screw back into place.  The match piece will create a new solid base for the screw.

Problem:  Squeaky floor

You will need talcum powder.  Sprinkle the powder over the squeaky section and sweep it into the cracks.

Problem:  Stained bathtub

You will need cream of tartar, baking soda, lemon juice and a soft cloth.  Combine equal amounts of cream of tartar and baking soda with enough lemon juice to make a paste.  Rub the mixture into the stain with your fingers or a soft cloth.  Let it sit for a half hour, then rinse well with water.

Problem:  Drywall hole

You will need wire screen, a pencil, a joint knife, masking tape, sandpaper and drywall compound.  Cut the wire screen two inches larger than the hole.  Tie one end of the string to the pencil and thread the other end through the middle of the screen; bend the screen, and insert it and the pencil into the hole.  Pull the string until the screen is flat against the hole ( the pencil will help push the screen flat against the drywall) and hold it taut while you apply the drywall compound.  Tape the string to the wall to hold the screen in place as the compound dries.  Cut the string when dry.   Sand and smooth the compound with the joint knife.

Problem:  Torn window screen

You will need clear nail polish.  Slather the nail polish over the hole in the screen, both inside and outside.  Let it dry and no more bugs will sneak in.  (This is my favorite!)

Don’t List Your Home Until You Are Ready to Show It

I have noticed that many times in today’s market that a home is listed on the Multiple Listing Service (MLS), but the property cannot be shown until after the first brokers open house or cannot be shown until a week from the date the listing was submitted.  The reason for this delay is often due to fact that the owner needs time to prepare the house for sale.   I urge all home sellers to be ready to show their homes on the date they are listed.  The way our MLS works is that agents with buyers for a house like yours enter their search parameters into the MLS and the buyer may be put on an automatic e-mailing system; when a house that matches a buyer’s criteria is listed on the MLS, he will be automatically notified, many times immediately after the listing was entered.  In today’s market there is a shortage of homes on the market in the Palos Verdes area and in the other South Bay cities.  Buyers who are looking for a home like yours are anxious to see it when it comes on the market.  Being told they must wait “takes the wind out of their sails”.

I recommend being totally prepared to show your home the minute it is put on the market.  There are possibly a number of prospects waiting and I believe your chances of getting top dollar for your home may be better shown to those motivated buyers than waiting to show until after brokers, who may not have buyers for your home, are allowed to stream through it.  If you list your home a week or so before you are ready to show it, the wording, “Will not be listed in the Multiple Listing Service until…” can be added into the listing contract and a waiver filed with our local association of Realtors.

Quick Updates to Your Home

It happens to all homeowners.  Rooms that once looked fresh and contemporary have aged themselves into drabness.  For some it is an excuse to redecorate.  For others it is a chore.  Either way, homeownership is an ever-evolving process.  As one project ends, another peaks its head around the corner.

To bring your rooms current, as well as to update worn and disheveled items, consider these five room freshening tips:

1.  Paint: Paint is number one on the list because it is relatively cheap and easy to do yourself.  Getting a professional finish is simple, thanks to a myriad of products now on the market for the do-it-yourselfers.  From tape to edgers to color changing paint, you are sure to get a quality finished product.  “In” colors change every few years, so be sure to do some homework on what hues are in style.  While you are at it, research zero-voc  (volatile organic compound) paint before starting your project.  Traditional paint leaches fumes into your home for years.  Zero-voc paint, however, exposes you to fewer odors during the painting process and fewer risky fumes in the years to come.  This is well worth the effort of searching out zero-voc and the cost difference per gallon is minimal.  Paint does wonders for hiding dirt, wear, and tear.  Bring your home into the new decade with a fresh coat.

2.  Trim: The current trend for trim in the rooms of a house is to be white instead of natural wood.  It is contemporary and clean.  If your trim work is in good repair, simply puttying holes, sanding scuffs and painting can update the look.  Dated trim that is too thin for your large rooms can be replaced with new baseboards.  An amateur handyman can tackle this task with table and coping saws.  Trim is all about getting the angle out correctly.  If you already have current looking trim, upgrade your room with crown molding.

3.  Cabinet Hardware: From oil-rubbed bronze to beautiful vintage pieces, old is in.  Hardware can easily be added to any existing cabinetry or changed to bring a new feel to a tired room.  Shop your local home improvement stores, online and at local auctions to find the pieces that truly speak to you.

4.  Decorative Accents: Curtains are the frame to any well-designed room.  Choose colors and patterns that fit the scale of your room.  Heavy curtains made from chenille or jacquard work best in large rooms with tall ceilings.  Lighter weight fabrics, such as silk and chiffon, are great choices for small or airy rooms.  Decorative pillows and throws are also an inexpensive way to change the accents of your room.  Bright is in; do not be afraid to play with color.

5.  Flooring: While flooring is not a simple fix and may require the help of a professional, it can make all the difference in a dated room.  Scratched and worn wood floors should be sanded and refinished to show the natural beauty of the wood.  Laminate wood flooring is an inexpensive and easy solution for homeowners who want a clean and modern update.  I recommend that you do not over-do this type of flooring; it should be in a room or two but not the entire house.

If your rooms are looking tired, be sure to wake them up with a few new colors, paints or accents.

 

 

Boost Your Home’s Value: 4 Projects with the Greatest “Bang for Your Buck”

No matter if the housing market is up or down, you always want to ensure home remodeling projects are wise investments.  According to Remodeling Magazine’s Cost vs. Value Report 2011-2012, there are several home improvement projects that will provide significant enjoyment to you now and could recoup a majority of your dollars whenever you decide to sell.

Beautiful bathrooms:  According to the report, a mid-range bathroom remodel ($16,000) can recoup up to 62% of the investment when it is time to sell…and in the meantime, add significant enjoyment with a new, relaxing retreat.  To start determine which updates matter most and how much assistance you will need for each.

Complex projects, such as structural, electrical or plumbing changes or installing countertops or flooring, may be best left to the professionals.  However, there are many updates you can tackle yourself.  Painting is an easy and ideal do-it-yourself task that can make a large impact with minimal cost.  Similarly, installing new faucets, accessories and showerheads can be simple, even for a novice. 

Classy kitchen:  Once you have updated your bathrooms, the kitchen is a rewarding home renovation that when done moderately can recoup up to 72% of your investment.  Based on your budget, you will need to determine whether to update with a lower-cost laminate or a higher-priced option, such as granite or marble, that can offer an upscale look, added durability and functionality.

Lighting, while functional, also adds a significant style element to a kitchen.  Replacing fluorescent fixtures with recessed cans or pendants will add ambiance and luxury to your room.  Update your old appliances.  Add a splash of paint to the walls and trim for a polished look.  Finish off the counter area with a new high-end kitchen faucet.

Envious entry:  It is the first thing your guests and future home buyers see when they approach your home, so if your front door is not appealing or does not have significant features, it is time for an upgrade.  A new entry door adds instant curb appeal for a minimal price and can recoup up to 60% of your investment.

When choosing a new door, fiberglass options are an ideal choice.  The material resists denting and scratching, is easy to maintain and can make your home more energy efficient.

Wonderful windows:  Similar to the front door, replacing your existing windows with new vinyl windows will give your whole home a new look and feel, both inside and out, and payback of up to 68% of your investment.  As a larger-scale project, this is likely a project left for the professionals.

Look to your local window distributor to refer you to a reputable contractor to ensure your new windows are installed properly.  When it comes to selecting windows, vinyl is an all-around excellent choice.  Unlike wood, vinyl windows resist rotting and do not require repainting.  Unlike aluminum, vinyl windows will never pit or flake.  Plus, you can enjoy a pay off immediately with increased comfort and lower utility bills, while potentially adding significant resale value to your home in the future.

 

Understanding Short Sales

A short sale is a sale of a home that is worth less than the mortgage owed.   Because these properties are often listed at a price lower than their values, you may be able to get a good deal, if you have a tremendous amount of patience.   The problem is that the only motivated people in the transaction are the agents and the buyer.  If you decide to make an offer on a short sale, it will generally be submitted by your agent to the seller for acceptance, subject to the short sale lender’s approval.  This can take months, so I tell the buyers, “This will take a lot of time, so don’t call me up, whining about it.”  There really is nothing you can do to speed up their decision.

It is very important to structure the purchase contract such that it gives the buyer an out of the contract if an acceptance is not obtained within a certain time-frame.  Also, it is best to have the different time-frames for inspections, putting the deposit into escrow, obtaining the loan, and so on begin at lender approval of the deal rather than at seller’s acceptance.  We have a very good short sale addendum that is required for every short sale transaction.

It is very important to have a short-sale property inspected by a professional home inspector.  Many times the upside-down seller has not maintained the property.  Very rarely will the short-sale lender agree to pay for any repairs, so it is a good idea to get a contractor’s bid to repair the items so you will know if  the cost is unaffordable.

The short-sale lender will come after the buyer and the agent for money.  One of my buyers said, “Tell them to go pound sand!”  The lender stopped asking him, but then they came after me for some the commission.  If there is more than one lender, the sale is even more tedious.  Unless the lender in first position comes out with what is expected, they will try to cut down on proceeds going to the junior lien holders.

Someone purchasing a short-sale property should just be prepared and patient and don’t get mad (they don’t care!) and a good agent comes in handy, too.