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Fountain- Mackenbach
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Frank Fountain's DRE# 01193674, Heidi Mackenbach's DRE# 1071319
Frank Fountain's DRE# 01193674, Heidi Mackenbach's DRE# 1071319

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A Real Estate Glossary to help you when buying or selling your Palos Verdes home.

Acceleration Clause- allows the lender to demand immediate payment of the outstanding loan balance if the borrower defaults, misses payment, or when/if the home is sold

Adjustable rate mortgage- Mortgage loans in which the interest rate is adjusted periodically based on predetermined factors such as an assigned index or designated market factor. There is typically a limit to how often and by how much the interest can fluctuate.

Appraisal, Approved Value- an appraiser's estimate of the value of the property. Banks require appraisals to determine how much money it will lend you

Appreciation- An increase in the value of a property due to changes in market conditions or for other reasons, such as additions and renovations.

Betterment- An improvement that increases a property's value, different from routine home maintenance and repairs.

Bill of sale- A written document that attests the transfer of the ownership of personal property

Buy down- A fixed-rate mortgage where the interest rate is "bought down" for a temporary period, usually one to three years. After that time, the borrower's payment is calculated at the note rate. In order to temporarily buy down the initial rate, a lump sum is paid to the lender and held in an account used to supplement the borrower's monthly payment. these funds usually come from the seller as an incentive to induce someone to buy their property.

Capital improvement- any item, structure, or addition which is a permanent improvement to the property

Chain of title- The history of all of the title transfers to a piece of real estate

Comps, comparables- Comparable properties; properties in close proximity which have sold recently that are about the same six with similar amenities, used to determine value of a property by comparison

Contract of sale- Agreement between the buyer and seller which conveys title after certain conditions are met, outlining purchase price, terms, etc.

Down payment- Usually 10-20 percent of sales prices paid by the buyer at the time of purchase. Comprises the difference between the purchase price and the mortgaged amount

Encumbrance- A lien or claim on a property

Equity- The value an owner has in real estate over and above the debt of the property. For example, if a homeowner owns a house valued at $100,000 and has a mortgage balance of $20,000, the homeowner's equity is $80,000. The homeowners equity increases or decreases accordingly as the value of the house increases or decreases. The lender's equity is equal to the value of the outstanding loan.

Escrow- Funds that are set aside and held in trust. usually used for payment of taxes, insurance, etc.

Fixed-rate mortgage- A mortgage with a set interest rate for the entire loan, regardless of interest rate fluctuations. This creates consistent, predictable payments, but it's not always the cheapest option

Home inspection- A complete and thorough inspection of the physical condition of a property, including all major systems and structural elements, conducted by someone who knows what to look for and who will disclose the findings to you

Homeowner's insurance- An insurance policy required by many lenders when you take ownership that combines personal liability insurance and hazard insurance for the home as well as its contents

Interest- The amount of money charged for the use of the money borrowed

Lien- A claim upon real or personal property for the satisfaction of some debt or obligation

Market Value- the amount that a seller may expect to obtain in the open market

Refinance- Obtaining a new mortgage loans on a property

Title Insurance- Insurance, usually issued by a title insurance company, which insures a homebuyer against errors in the title search. The cost of the policy is usually a percentage of the property value
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Lunada Bay, a small town along the West coast of Palos Verdes Estates, sits on the cliffs of the Pacific Ocean and the north western edge of the peninsula. Boasting a fountain and quaint, charming commercial district, Lunada Bay gives residents a local market, service station, shops, and restaurants. A larger shopping plaza was originally planned for the area that included an incline railway down the bluffs with bath houses at the beach. When the Great Depression happened, plans fell through and commercial lots were turned into residential ones. Now, streets with "plaza" after their name indicate a connection to the commercial district from the original master plan. A favorite among families, Lunada Bay is within walking instance of all three local schools- Lunada Bay Elementary School, Palos Verdes Intermediate School, and Palos Verdes High School. The eastern section of Lunada Bay border Rancho Palos Verdes along Via Coronel and Via Castilla known as "University Subdivision.

Bluff Cove is a wide, sweeping bay surf spot in Palos Verdes. Located at Palos Verdes Drive West and Via Monte Mar, the Cove was popular with the redwood paddleboard crew of the 1930s. Also a marine preserve, it offers a rugged element unique to the L.A. surfing experience. Home to porpoises, seals, and sea otters the area generally keeps healthy kelp beds and wind chop to a minimum. The bulge of the Palos Verdes Peninsula blocks all but west and northwest swells creating usually small swells during this summer but several consistent winter breaks. The Cove has three main breaks- Little Reef (up to six feet on a medium to high tide), Middle's (the main break with up to 12 feet), and Boneyard's (scattered series of reeds at south end that break erratically, up to 15 feet).

Malaga Cove, located near the intersection of Palos Verdes Drive West and Palos Verdes Drive North, is a region along the north shoreline of Palos Verdes Estates home to a shopping plaza and library built with Spanish Renaissance architecture in mind. The plaza, library, and original homes were built starting in the late 1920s. The Malaga Cove Library can be found one block uphill behind the plaza's south side. The weekends bring a large flow of cyclists through Malaga Cove. One of Palos Verdes Estates’ notable landmarks is Neptune Fountain, donated to the city by the Palos Verdes Project, in Malaga Cove Plaza. The elaborate two-thirds scale replica of a bronze statue and fountain erected in Bologna, Italy in 1563, was donated to Palos Verdes Estates in 1930 by the Palos Verdes Project. The statue is thought to have been over 100 years old before it was brought to the City and was obtained from a villa courtyard outside Venice. The Palos Verdes Police Department, County Fire Station, and government offices are all located in Malaga Cove. Located next to Rat Beach is the Palos Verdes Beach Club. Built in 1930, the Club was remolded into a Mediterranean-styled favorite for Palos Verdes families.

Valmonte is an area located at the northern end of Palos Verdes Estates known as "The Grove," for its dense eucalyptus tree growth. Situated between the border of the Palos Verdes Golf Course at the south and the Hollywood Riviera at the north, Valmonte presents prospective buyers with large and charming homes predominantly featuring Eastern traditional and Southern colonials styles. Prized for its convenient location, Valmonte offers easy access to the beaches, the Torrance financial and shoppings districts, and the 110 Freeway. The City of Palos Verdes Estates owns a horse stable located in Valmonte, operating under a concession agreement. Located at 4057 Via Opata, the stables offer riding lessons, trail rides, housekeeping for privately owned horses and a summer horse camp.

Montemalaga can be found above Lunada Bay and north of Rancho Palos Verdes near La Venta Inn. It has some of the largest homes on the Peninsula. Montemalaga homes are at the highest elevation in Palos Verdes Estate.
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Planning to sell your home? Below are some quick tips to prepare your to help it sell faster-

Presentation is the number one key for preparing your home to sell. Home buyers will be most attracted to your home and what it has to offer if it is clean and spacious.
It is crucial to get rid of clutter and personal items from tables, floors, counter tops, etc.
Clean your house like you never have before- both inside and out.
Create attractive curb appeal- see more tips to improving curb appeal here.
And last but not least, fix squeaky doors, holes in the walls, creaking steps etc.
Before you show off your home to potential buyers, have your realtor and a friend or family member come over and do a walk through. See if they have anymore suggestions for making it look perfect.
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Places to visit in Southern California: The Getty Museum

The Getty Center, located in Los Angeles, contains Western art from the Middle Ages to the present. The museum estimates that it receives 1.3 million visitors annually making it one of the most visited museums in the U.S. The second location of the Getty Center is the Getty Villa, located in the Pacific Palisades, features art from ancient Greece, Rome and Etruria. At the Getty, visitors can learn unlimited facts about the exhibitions using the GettyGuide- an audio player with commentary from curators and conservators, watch art-making videos, play with an interactive timeline, and much more.

Getty Center
What to See
European paintings, drawings, manuscripts, sculpture and decorative arts, and European and American photographs
A selection from the special collections of the Research Library at the Getty Research Institute
Modern architecture and gardens
1200 Getty Center Dr, Los Angeles CA 90049

Hours-
Mondays: Closed
Tuesday-Friday: 10 am-530 pm
Saturday: 10 am- 9 pm
Sunday 10 am-530 pm

Admission- Free

Parking- $15 per car. It is free after 5:00 pm

Getty Villa
What to See

Greek, Roman, and Etruscan antiquities arranged by themes including Gods and Goddesses, Dionysos and the Theater, and Stories of the Trojan War
Roman-inspired architecture and gardens

17985 Pacific Coast Highway, Pacific Palisades, CA 90272

Hours-
Monday: 10 am-5 pm
Tuesday: Closed
Wednesday: Varies
Thursday-Sunday: 10 am-5 pm

Admissions- Free, BUT an advance timed-entry ticket is required

Parking- $15 per car, free for all evening programming
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Palos Verdes Local Entertainment- Hermosa Beach Playhouse

The Hermosa Beach Playhouse is a part of the Civic Light Opera created for the South Bay. The theatre seats 474 people, giving a more intimate feeling to theatre and offers plays and musicals.

The Playhouse features an art deco design and is widely used for theatrical productions, recitals, films, community theatre, and seminars. It received the Los Angeles Conservancy's award for restoration.

The theatre was featured on ABC's "Eye on LA" and has put on productions such as Merman's Broadway, Around the World in a Bad Mood, and The Wonder Bread Years.

The theatre is located on Pacific Coast Highway and Pier Avenue in Hermosa Beach.
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Local Entertainment: The Staples Center

The Staples Center, one of the major sporting arenas in Los Angeles, is adjacent to L.A. Live and the LA Convention Center. The arena is home to the Los Angeles Lakers, Los Angeles Clippers, Los Angeles Kings, Los Angeles Sparks, and hosts over 250 events every year with four million visitors annually. Events hosted by the Center in the past include the 2004 and 2011 NBA All-Star Game, 2002 NHL All-Star Game, 11 Grammy Award shows, annual X Games, PAC-12 Basketball Championships, and many more. The venue has also hosted concerts for musicians such as Jay-Z, Bruce Springsteen, Prince, U2, Paul McCartney, Garth Brooks, Britney Spears, and Justin Timberlake.

Visit the Staples Center events page for more information on its upcoming events and shows.

1111 S. Figueroa St, Los Angeles, CA 90015
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Moving to the Palos Verdes area? Below is your Moving Checklist, a guide to making your move easier.

Get quotes from 3-4 moving companies and talk to family and friends for recommendations
Designate how many packing supplies you will need per room.
Don't forget to plan who will drive what cars over to the new place and when
Do a moving cleaning and determine what you need and absolutely want to take with you to the new home. Then sell, recycle, or donate anything you don't want.
Make an inventory list of everything involved in the move
Create a designated folder for all moving-related expenses and receipts
Fill out a Change of address form for the IRS, DMV, Post Office, Insurance, Banks, Cell Phone, Credit Cards, and any subscriptions you have
If you have children, arrange the transfer of their school records
Notify your doctors of the move. Seek referrals if needed.
Make travel arrangements for your family and pets and arrange for them to arrive long before the mover's are scheduled to.
Make arrangements to disconnect and connect your cable, internet, electric, gas, etc.
Arrange for a locksmith to come and change the locks for move in day
A month before the move, start packing things you know you won't need before the move.
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In some cases, people think the best idea may be to sell their home themselves. This is usually not the best option. Here is a list of just some of the basics that as your listing agents we will do. Saving money on real estate commissions can cost you a fortune in lost time and lost money for your home. Here are a few things to consider:

You will need a comprehensive market analysis.
You will need an expert price valuation so your home can sell quickly without under-pricing.
You will need a comprehensive marketing campaign in order to receive the highest possible price for your home.
You will need to network with other Realtors who have buyers who may be interested in purchasing your home.
You will need a local advertising campaign including the creation of print and Internet advertising.
You will need proper signage to promote your home.
You will need the proper legal representation to assure the transaction takes place smoothly.
You will need someone to coordinate showings and other appointments.
You will need someone to conduct and drive traffic to your open house.
You will need an experienced negotiator who knows what is reasonable and what is not.
You will need an expert who understands contingencies, cash offers, etc.

Contact us today and we can help you sell your home for the highest price possible and make sure you have an easy transaction.
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Getting Your Finances in Order

A major step in starting your home search is having a clear understanding of your financial situation. By getting a handle on your income, expenses and debts, you'll have a much better idea of what you can afford and how much you'll need to borrow. For lenders to verify this information they're going to need to look at your financial records. Collect the following documents before you meet with a lender:
Paycheck Stubs- Remember that lenders are most interested in your average income. Not only will they want to see this month's paycheck, but also how much you've been making for the past two years. Steady employment is also more attractive to lenders, so if you've been hopping from job to job, be prepared to discuss the reasons why.
Credit Report-Every lender will want a copy of your credit report as part of the loan application process. The report lists all of your long-term debts, as well as your payment history. In general, they will require you to pay for the credit report, but if you have a recent copy, they may accept that instead.
Tax Records- It's always a good idea to save copies of your tax returns, especially if you're self-employed. If you own your own business, it's important to note that lenders generally consider your income as the amount you paid taxes on--not the gross income of the business.
Bank Statements-In order to qualify you for a loan, most lenders will also ask you for copies of your bank statements. Ideally, they'd like to see a steady history of savings--or at the very least, that you're not bouncing checks every month.
Dividends & Investments-Lenders will usually consider long-term investment dividends, as well as your investment portfolio, when evaluating your income.
Alimony/Child Support- If you receive steady payments as part of a divorce settlement or for child support, you can also include this as part of your gross income.
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Palos Verdes Realtors

Real estate transactions can be some of the largest purchases and investments you will make in your lifetime. Whether you are considering the purchase of Rolling Hills Estates, CA real estate, or placing your Palos Verdes home for sale, you need the help of a local Realtor who has in-depth community and market knowledge needed to ensure your next transaction is a success. Palos Verdes Realtors, Heidi Mackenbach and Frank Fountain have over forty years combined real estate experience and bring a superior level of customer service and care to the table with each client. Heidi, a South Bay native, and Frank, a Palos Verdes Estates resident for over 17 years, have consistently outranked their peers as top producing agents and have the skills and experience you need in today’s real estate market.

Realtors in Palos Verdes

As members of the Palos Verdes Board of Realtors, as well as the California and National Association of Realtors, both Heidi and Frank subscribe to a very strict Code of Ethics and provide their clients with a superior focus on customer service and care. In today’s real estate market, when experience and knowledge count, choose Heidi and Frank, to assist you with your move or home sale. They are always available for consultation, and can connect you with highly qualified mortgage professionals, as well as other vendors needed throughout the home buying and selling processes.

Heidi and Frank thank you for the opportunity to earn your business and look forward to helping you with all your real estate needs. To learn more about Palos Verdes Realtors, Heidi Mackenbach and Frank Fountain, please feel free to browse their site at your leisure or bookmark the site for future reference.
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