Were you aware that the Palos Verdes Estates Homes Association is changing Palos Verdes Estates View Preservation regulations?
“This summer the PVHA Board will be developing new procedures and policies for view issues. The current preliminary drafts can be seen at pvha.org/news/. Members are invited to review the drafts and forward comments to email@example.com.
Meetings PVHA Regular Board Meetings are scheduled for the fourth Tuesday of each month at 4:30 pm. Additional meetings may be held and regular meetings may be canceled. The calendar at pvha.org/calendar/ has the most up-to date information on meeting dates and times.”
The proposed changes will have a deleterious affect on home values. Let me explain, in the past an “offending tree” [that’s my term, not the PVHA’s] to be considered as a tree that could be mitigated by “lacing”, “vista pruning”, “crown reduction”, “crown raising”, “stand thinning” or “removal/replacement” could be located not only on adjacent parcels to your lot but even across the street. The proposed changes will require that only adjacent parcels be candidates for view preservation. In other words, that tree on your neighbor across the street not contiguous to your parcel, whose tree has now grown to block your ocean view … well, you’re SOL.
This really comes down to figuring out what is a view worth in Palos Verdes Estates and as you will see below, it’s worth a lot!
What are the facts behind my representation that the new changes to Palos Verdes Estates View Preservation could significantly affect the value of your home?
When we look at the homes sold in Palos Verdes Estates from 12/31/2018 – 6/29/2019 (a 180 day period of time, 6 months typically used as a valid time period by real estate appraisers) and divide them into view and no view or peekaboo categories, the differences are astounding. In fact even I was surprised as the delta. So as to eliminate the possibility of skewing the results, I did not include bluff home sales as obviously there is no possibility of their views being hampered. I also calculated the average living area size of the Palos Verdes Estates homes sold in this time frame (It was 3,167sqft) and for the study, went plus and minus 1,000sqft on either side of the average.
Let me distill this down to dollars. The median $/sqft delta is $100/sqft. That means if you lost your view and you owned the average sized home sold in Palos Verdes Estates in the last 6 months (3,167sqft)…
Your home value could go down by as much as $316,700 because of changes to the Palos Verdes Estates View Preservation rules
So what should you do now?
attend any and all public hearings or workshops the PVHA holds on this matter
let your voice be heard – write letters and or emails to the Palos Verdes Homes Association. They’ve done a great job listening to the community, the board members are from our community and I believe they will listen in this case. But you have to take action and WRITE! Here’s the email: firstname.lastname@example.org
What areas of Palos Verdes Estates will be most affected? Valmonte won’t be at all really but Malaga Cove, Monte Malaga and Lunada Bay certainly will be. And since I have your attention, take a look at this “Avant Garde Moroccan Contemporary” home (no sign in required)