Kathy Tyndall, EPRO Realtor

Driving home late this afternoon I suddenly came upon a thick fog bank just as I was rounding the corner to my home on the "cold" side of the Palos Verdes Peninsula. Having lived in the same neighborhood for 30 years, I have gotten used to the fog wall at random times, but today's incidence was particularly strange. About every couple of hours the fog would completely dissipate and you could see for miles over the ocean. My husband had planned to wash his car when the fog rolled in and I found him sitting in the living room a few minutes later because the skies had cleared again. Everyone knows you shouldn't wash a car when the sun is out because of all the streaks you get. And, then, minutes later, we were socked in again! So, he ambled down to the garage to pull out his car and I went off to a meeting. An hour later when I left my meeting the fog was so thick you couldn't see more than 10 yards in front of you. So, I crept home, relieved my car knew the way because I was driving blind. Ironically, within minutes of finally getting into the house, I looked out the window and the sky was crystal clear. It was the strangest thing I have ever seen!

On December 1st, several RE/MAX Realtors were invited to visit Terranea Resort in Rancho Palos Verdes. The resort is scheduled for completion around June 2009 and some of the features are:

• 400 Room hotel comprised of luxurious Guest Rooms and Suites and 20 two-bedroom Ocean Bungalows
  
• 82 Spacious two and three bedroom Villas and Casitas
  
• 25,000 Square foot Montage spa and fitness center
  
• Three swimming pools
  
• Signature gourmet restaurant and casual all-day dining + the Point Bar
  
• 75,000 Square feet of outdoor event space
  
• Boutique resort shops and full concierge services
  
• Children's Center and Nature Concierge
  
• 60,000 Square feet of meeting and event space including an 18,000 square foot ballroom
  
• The Casitas and Golf Course Villas are for sale :
  
• The Villas range in price from $2.55 million -$4.5 million- Owners can use them for 90 days per year with a maximum time period of 29 day increments
  
• The Casitas range in price from $2.25 million - $4.2 million- Owners can only use them for 60 days per year with a maximum time period of 29 day increments
  
• The projected management fees for the units range from $1500-$2300 per month.
  
• If you own a Villa or Casita, you are entitled to use all of the facilities of the resort year round.
  
• According to the sales manager 50 out of 82 units have already sold.
  
• All areas of the resort are open to the public except for the pools. The spa is available for a fee.
  

Just posted today, there is a new temporary program started in the Planning and Building Departments of Rancho Palos Verdes

In order to encourage property owners to obtain the necessary Planning approvals and/or building permits for improvements done without such approvals and permits, the City Council has approved a temporary program that will allow property owners to file applications with the City to obtain “after-the-fact” approval for certain improvements completed on their property without paying the required penalty fees.

Penalty fees for “after-the-fact” work are normally two times the regular fees for Planning permits and three times the regular fees for building permits.

Specifically, from December 1, 2008 through May 3, 2009 residents can contact the Planning and Building and Safety Divisions to apply to legalize certain improvements on their property that were completed without Planning or Building permits. Any of the following improvements are eligible for this program: Installation of patio covers or trellises, re-roofing of an existing structure, additions not exceeding 250 square feet and not requiring a neighborhood compatibility analysis, replacement windows, installation of skylights, and installation of pools and spas.

Applications to legalize “after-the-fact” work will still be subject to payment of all applicable application processing fees, plan check fees, and building permit fees; however, as noted, through this temporary program all penalty fees will be waived. Keep in mind that all projects will have to conform to current applicable planning requirements and current building codes and will be subject to inspection by the City to verify compliance.

For further information call the Planning Division at 310-544-5228 or the Building and Safety Division at 310-265-7800 for further information.

This might be a good time to bring your home into compliance if you are planning to sell your home in the coming months. Quite often, property owners don't even know they need to get permits to replace windows or roofs.

Everyone is at the grocery store. Trust me. I know this because I was there myself yesterday and had to fight my way to the check out line. Thanksgiving and the holidays have taken hold on the population in a big way. Perhaps it's because people are aching for something positive in their lives after the deluge of terrible news we have had in the past two months. The holidays offer wonderful escapism for a depressed populous.

Locally, the real estate market has slowed to a snail's pace. While we have lots of qualified buyers, they are, for the most part, sitting on the sidelines waiting for something to happen. Personally, I think this is a big mistake. Unless someone enjoys the herd mentality, now might be the best time ever to buy a home. Since no one else is too motivated to write offers at this time, there is a good chance prices are very negotiable. We know the interest rates are incredibly attractive. So we have some of the compelling components of ideal buying power: High inventory, low interest rates and lackluster interest from buyers.

If someone is interested in keeping a property for a few years, this is a great time to buy! Sure, prices may still decline a little, but meanwhile, they can enjoy living where they want to live and reap the benefits of home ownership. Mind you, this is not a flipper's market. No one can honestly say this is the climate for fixing up and selling a house. But, with patience, we will eventually return to those wonderful times when home ownership and owning an appreciating asset were synonymous. Historically, in California, homes have appreciated an average of 8% per year over the last 30 years. So, while we may be wincing in pain now, let's take the long view. There are some amazing buys out there. Check them out!