Santa Monica, CA Real Estate News

By Jodi Summers, Our reputation assures your satisfaction.
(Sotheby's International Realty)
by Jodi Summers The aggregate value of real estate in Santa Monica currently stands at $29 billion, according to the Los Angeles County Office of the Assessor. The aggregate value of property in Los Angeles County totaled $1 trillion > $62 billion increase from the prior year – a.k.a. a 6% rise in value. “While the largest factor for the increase this year was residential real estate, international investors are also pouring money into large mixed use projects in downtown L.A., including projects like the Wilshire Grand Tower and Metropolis,” observes Anthony Crump, Special Assistant of Communications at the County Office of the Assessor. The California Association of Realtors looks broader and notes that statewide, the median price rose over the 12 months ending in August by 8.9% to $4...
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By Robert Schmalz, Cal. Lic Broker
(West Los Angeles Real Estate Group)
Only in California and especially in Santa Monica Real Estate can you find a house that has been reduced almost $1,000,000 and still cost $3,700,000. In other parts of the country they think the housing prices here are crazy   BUT!!!!!   they live in other parts of the country. Now don't get me wrong I have lived in many cities in the United States and have been to most areas over the course of my life , there are great areas of the country but the California Coast and especially Santa Monica Bay is spectacular   I live very close to this house and it is very unique, steps from the beach, it offers a lifestyle that cannot be beat. You are 1 block to the beach, 3 blocks to Main St and 1/2 mile to Santa Monica's famous 3rd ST Promenade This is a 4 bedroom house with 4 bathrooms and over 2...
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By Kim & Kristine Halverson, Sisters, Realtors
(Compass)
A few days ago we had a client ask up about the current market analysis in Santa Monica. Usually we have it up to date but with our busy schedule we hadn't had a chance to. The market analysis of a city/town is probably one of the most important things that people should know. With that we though we would share with you our cities current market trend!     Market Absorption Trend: Santa Monica   *Single family homes only           How is YOUR neighborhood faring in this market?       Market Activity in the Past- 12 Months 6 Months 3 Months   Closed Transactions: 238 136 80   Average Homes Sold Per Month: 19.83 22.67 26.67             Listings  Active on MLS: 44 44 44   Months of Supply on Market: 2.22 1.94 1.65             Average List Price: $2,353,749 $2,372,117 $2,365,912   Average S...
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By Jodi Summers, Our reputation assures your satisfaction.
(Sotheby's International Realty)
Join us for an interactive community workshop. Experience the facility, explore the site and discuss the uses proposed by the community.   Community Workshop #1   Date: Saturday, September 27, 2014   Time: 8:30 a.m. Welcome and Refreshments 9:00 a.m. Civic Working Group Meeting & Workshop Begins 1:30 p.m. Meeting & Workshop Adjourns   Location: Santa Monica Civic Auditorium East Wing, 1855 Main Street, Santa Monica, CA   Parking: Free bike and car parking will be available We are reaching out to the community as broadly as possible for this workshop. Please help us by inviting your neighbors and friends. Multiple mailing lists are being used and we ask for your patience regarding duplicates.   To request disability-related accommodations or translation services, or if you have any ques...
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By Bandele Oguntomilade, Top REALTOR, Your Woodland Hills Real Estate Agent 818-825-6996
(Bogun Realty and Luxury Homes)
Open-House Events:                     1-4PM on Saturdays Property:                                         2012 19th Street, Santa Monica, CA 90404 Virtual Tour:                                    www.2012-19thStreet.com Offered At:                                     $888,000 Call:                                                 818-825-6996 Property Description:                    3 Bedrooms, 1 Bathroom, Huge Lot See Detailed Description After Photos Below       Property Description:  Open Houses 1-4PM on all Saturdays until sold.  Charming 3 Bedrooms, 1 Bathroom 1086sf home on large 7995sf lot in prime and highly desired neighborhood, one block from Santa Monica College.  Zoned SMR2 with potential to build multiple units.  Larger lot is perfect for developer.  Current home needs so...
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By Bandele Oguntomilade, Top REALTOR, Your Woodland Hills Real Estate Agent 818-825-6996
(Bogun Realty and Luxury Homes)
    Open-House Events:                     1-4PM on Saturdays Property:                                         2012 19th Street, Santa Monica, CA 90404 Virtual Tour:                                    www.2012-19thStreet.com Offered At:                                     $888,000 Call:                                                 818-825-6996 Property Description:                    3 Bedrooms, 1 Bathroom, Huge Lot See Detailed Description After Photos Below       Property Description:  Open Houses 1-4PM on all Saturdays until sold.  Charming 3 Bedrooms, 1 Bathroom 1086sf home on large 7995sf lot in prime and highly desired neighborhood, one block from Santa Monica College.  Zoned SMR2 with potential to build multiple units.  Larger lot is perfect for developer.  Current home needs...
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By Kim & Kristine Halverson, Sisters, Realtors
(Compass)
The Wavery & Seychelle are the new complexes in the area. These luxury homes have 24 hour security, conceiage, virtual personal assistant, pet spa, community lounge, and those new Starbucks that everyone is talking about. These spacious homes are just a block from the ocean and pier in Santa Monica.  The Waverly: Here's a video of the Seychelle and the area aound it. The Seychelle is equivilent to living in a luxury hotel, such as the Westin or Hyatt. They also have a pool, room service from the resturant downstairs, and a classy modernized look that is no doubt featured for an upscale environment. I think these new Ocean Ave condos are setting the mark for new complexes being built in LA! What's new in your neighborhood!
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By Kim & Kristine Halverson, Sisters, Realtors
(Compass)
We constantly have to deal with buyers, sellers, and everything else living in the home of interest. So we broke it down for a couple of people who are relocating out to Los Angeles about what they might find when going through inspections. ______________________________________________________________________________________ No matter who you are, as a homeowner or renter, you have the pleasure of dealing with pests. From insects to rodents pests of all shapes and sizes are a problem. In California we deal with the common issues of termites, spiders, bed bugs, and mice/rats. Being in a populated county pests have multiple breeding grounds for them to reproduce in. This is a serious problem and that’s why it’s important to be prepared and stay ahead to avoid any sort of infestation. As ...
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By Jodi Summers, Our reputation assures your satisfaction.
(Sotheby's International Realty)
by Jodi Summers We are all lucky here in Santa Monica. A large part of the world’s population dreams of living by the beach in Southern California, where life is a mix of reality, sunshine and fun. Just think of how nice it is to be living along Ocean Ave and Neilson Way where you can hear the waves dance with the shore…30 of those desirable properties sold between January 1 and July 24, 2014 in Santa Monica. As per the MLS, the median sold price was $2,030,000. By and large, those buildings were not constructed in this millennium, except for the Waverly and the Seychelle – Santa Monica’s new luxury condos near Tongva Park and our promised light rail terminus. If you’re spending a couple of million on a condo in Santa Monica, why not go with brand new? Called Ocean Avenue South, these l...
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
How is the Santa Monica real estate market doing? Let's compare the second quarter 2014 sales over the first.  The percentage difference is over the same period in 2014. Santa Monica single family 90401 - this is primarily a business district so you will see little or no activity here. Sold +/- Median % +/- Active Median Pending 0 -2 $1,522,000** -N/A 1 $7,500,000 0 90402 - which includes the areas of Santa Monica Canyon, North of San Vicente, and North of Montana and the northern part of Ocean Avenue (which includes the luxury condo buildings). Sold +/- Median % +/- Active Median Pending 26 +12 $3,515,750 -5.04 27 $3,599,000 15 90403 - North of Wilshire, parts of Ocean Avenue (also including some of the luxury condo complexes), Sold +/- Median % +/- Active Median Pending 9 +2 $2,050,00...
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By Kim & Kristine Halverson, Sisters, Realtors
(Compass)
The Importance of Homeowners Insurance Recently we talked to Ed Rowin from Farmers Insurance to discuss with us the importance of Homeowner's insurance. Luckily he gave us this great response! Homeowners insurance is the best product you will ever buy and hope to never use. What would happen if your home was damaged by fire and all of your possessions were destroyed?  If your personal property was stolen or damaged?  Did you know that your homeowners insurance covers your possessions even in your automobile?  If your automobile is broken into and your belongings are stolen, without a homeowner’s policy your stolen items are not covered.  Could you afford to replace everything you own? It can be very expensive and for most of us the answer is "NO".  These are a few reasons why homeowners...
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By Jodi Summers, Our reputation assures your satisfaction.
(Sotheby's International Realty)
edited by Jodi Summers Woohoo! The Santa Monica Twilight Dance Series is 30 years old this summer…and as always…the City is sharing another summer of free music Thursdays on the historic Santa Monica Pier. Dance or get your feet wet and hear some excellent music. The summer of 2014 brings these fine acts…   7/10 - Cults w/ James Supercave + KCRW DJ Marion Hodges - Cults has always been a band to look to both past and present. When the young duo arrived on the New York scene in 2010 their debut effort was described as "Phil Spector with hip-hop sensibilities, Glee soaked in reverb."     7/17 - Yuna w/ King + KCRW DJ Anthony Valadez - Yuna has risen from regional D.I.Y. notoriety to full-on international stardom. In the process, this young singer-songwriter from Malaysia has become the fi...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices)
The best Cinco de Mayo party: Dr Yee’s Santa Monica,CA, Party I have been a dental patient of Dr Yee’s for the past 16+ years. Most people do not like to go to the Dentist I am no exception. Now that I have been going to her for so many years, I must say, she is an exception to the stereo typical dentist.  I look forward to going to her office. She has the best staff and on top she is a Perfectionist, virtually the painless dentist.   Diane and I have only went to the past couple years to her famous Cinco de Mayo party at her home. Always other obligations prevent us from going. Now that we have been there twice we are keeping our calendars open for next yearJ. This is too good to miss! She celebrates her staff and uses this opportunity as a client appreciation as well, by opening her h...
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By Jodi Summers, Our reputation assures your satisfaction.
(Sotheby's International Realty)
by Jodi Summers Santa Monica is a model city because we do things well. People enjoy our beaches, our arts and entertainment, our lifestyle. It’s an easy place to live. You get home and your cares drift out to sea. The world appreciates us. 2013 was another year of excellence for the City of Santa Monica. Relish this list of accolades, as our city is “commitment to excellence and professionalism in all facets of municipal government and civic life.” CITY OF SANTA MONICA ACHIEVEMENTS 2013               Please see the whole list @  http://www.santamonicapropertyblog.com/?p=5447
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By Jodi Summers, Our reputation assures your satisfaction.
(Sotheby's International Realty)
by Jodi Summers Bet you didn’t know that the ancient Sumerian city of Uruk was one of the first master-planned cities. Uruk was situated on an ancient channel of the Euphrates River, some 30 km east of modern As-Samawah, Al-Muthannā, Iraq,  The city was the main force of urbanization during the Uruk period (4000–3200 BC). Like history? The Uruk epoch saw a shift from small, agricultural villages to a larger urban center with a full-time bureaucracy, military, and stratified society. Uruk period culture, exported by Sumerian traders and colonists, had an effect on all surrounding peoples, who gradually evolved their own comparable, competing economies and cultures. Millennia has passed since the days of ancient Uruk, as well as other early planned cities such as Harappa, Lothal, and Mohe...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices)
Bike Share System: have you heard of it?Beverly Hills & Santa Monica are considering it. Boston has it. On my last trip to Boston, I have noticed that the “air” was clearer then on my previous visits and visibly there appeared to be less pollution. How is that possible, I wondered and started looking around and discovered that all the Taxis were all Toyota Priuses or other electrically powered vehicles? The bulk of the vehicular traffic was underground and various parks were strategically created all over the city with greenery and more specifically Trees. This was complements of the “Big Dig”. I and then  saw all these uniformed  Bike Stands, so needless to say conversation ensued with friends and the “walking city of Boston” has turned into a “Bike Share: Biking City”. Our friends lov...
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
Let's see how the Santa Monica real estate market is doing with the shortage of inventory. How does the first quarter of 2014 compare to the same period in 2013? Santa Monica zip codes differ in pricing and demographics from each other and will be reported separately. The percentage difference is over the same period in 2014. Santa Monica single family 90401 - this is primarily a business district so you will see little or no activity here. Sold +/- Median % +/- Active Median Pending 2 +2 $1,522,000 -N/A 1 $3,000,000 0 90402 - which includes the areas of Santa Monica Canyon, North of San Vicente, and North of Montana and the northern part of Ocean Avenue (which includes the luxury condo buildings). Sold +/- Median % +/- Active Median Pending 12 -1 $3,702,500 +5.79 20 $3,797,000 12 90403...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices)
Santa Monica, CA Single Family Market Snap Shot! Check it out! The Santa Monica Single Family Market is one of the hottest markets in the area. Some people like to live in Santa Monica because it is in close Proximity to Beverly Hills, the San Fernando Valley, Downtown Los Angeles and Malibu. Many people feel they do not need to have two homes to be able to get around in Los Angeles, CA unlike the perception is if you live in Malibu you need to have another house on the West Side.   There are currently 41 Homes on the Market for Sale! Active Status that is! There are currently 8 in Backup Status waiting for the buyers to remove their contingencies. There are 18 Pending waiting to finish with all the documents to close escrow! Amazingly there were 100 Single Family Homes Sold in the past...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices)
Santa Monica, CA Condominium Market Report! Check out the Snap Shot of the Activity! I was asked today: How is the Santa Monica, CA Condominium Market right now? Clearly it is a very interesting question. I have not done a Market Report in a while about the Santa Monica, CA Condominiums’ activity. I have had many agents complaining that the market is too fast. I quietly had to agree. There appears to be very little inventory is the perception. So let’s eliminate perception and let us look at the facts. As of today there were: 79 Active Condominium listings on the Market in Santa Monica, CA, now keep in mind that highest priced and listed Condominium was a Pent House Unit on Ocean Ave for $7,995,000.00. 27 Condominiums are in Backup Status waiting for the Buyers to remove their Contingen...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices)
Subway to the Sea: aka the Purple Line from Downtown Los Angeles to Santa Monica, CA After four or five years of planning, community activism the Metro Construction finally began their Phase II construction around end of March 2012.   Needless to say from this point on traveling on the West Side of Los Angeles surface streets just became a bigger nightmare effective this date. If it was possible to be more of a “Nightmare” Needless to say two years later huge progress has been made. The brain child of our Politicians is slowly becoming a reality. Needless to say anything that involves politicians becomes suspect: Just to start with a couple examples: 1. Usually what they budget becomes an out of control monster. Needless to say we are resilient and accept it and just move on. So I will ...
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