Santa Monica, CA Real Estate News

By Jodi Summers, Our reputation assures your satisfaction.
(Sotheby's International Realty)
by Jodi Summers In case you haven’t noticed the improvements, housing is no longer bringing down the economy.  Home prices across the 20 major U.S. metro markets were 12% higher in April than they were a year before, according to the S&P/Case-Shiller Home Price Index. In California, between May 2012 – May 2013, the median price increased by 31.9% to $417,350, according to the California Association of Realtors. May marked the 15th consecutive month to post a year-over-year increase in median price, and was the largest year-over gain recorded since CAR began tracking this statistic in 1980. In Los Angeles County unit sales declined by 2.2% over the year to May – due to constrained inventory - while the median price climbed by 29.4% to $365,990. Santa Monica has the technology to offer mo...
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By Bandele Oguntomilade, Top REALTOR, Your Woodland Hills Real Estate Agent 818-825-6996
(Bogun Realty and Luxury Homes)
California Mortgage Banking at Its Best - Robert Eckmann If you are a homebuyer or investor who intends to finance the purchase of your next home or investment property, one of the most important players who could make or break your transaction is your choice in of a mortgage banker or mortgage broker.  In the unpredictable journey to financing your property purchase, a mortgage banker is responsible for understanding your financial situation and outlining all available loan options that could serve your needs.  Your mortgage banker is also responsible for helping you successfully navigate the journey from loan application to documents production to loan processing to responding to all underwriting objections and conditions to closing the loan.  Your mortgage banker must work closely wi...
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By Dom Naidoo, Malibu to the Marina Real Estate
(Westside Properties)
LATEST RENTALS $4,200 - 3392 WADE ST $5,975 - 2340 29TH ST $6,000 - 7522 80TH ST $29,500 - 478 21ST PL $2,000 - 1440 VETERAN AVE, Unit 509 $3,650 - 13 Catalina Court $19,500 - 834 DEVON AVE $2,000 - 121 North Croft Avenue #302 $2,500 - 11500 TENNESSEE AVE, Unit 330 $9,500 - 8569 Burton WAY, Unit 402 $3,500 - 2385 ROSCOMARE RD, Unit A6 $9,995 - 711 FOOTHILL RD $3,500 - 324 N PALM DR, Unit 204 $4,695 - 1751 APPIAN WAY, Unit 102 $6,750 - 1751 APPIAN WAY, Unit 202 $4,000 - 12436 STANWOOD PL $6,995 - 1751 APPIAN WAY, Unit 304 $4,695 - 1751 APPIAN WAY, Unit 101 $2,500 - 148 S CAMDEN DR, Unit E $5,200 - 353 South Reeves Drive #302 $4,700 - 1202 Havenhurst DR $4,300 - 13650 MARINA POINTE DR, Unit 405 $6,000 - 245 MAIN ST, Unit 214 $3,400 - 117 CLARK DR, Unit 202 $7,000 - 101 PALOMA AVE $7,000 ...
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By Kim & Kristine Halverson, Sisters, Realtors
(Compass)
Not Your Listing? Return the Appraiser's Call Anyway! An appraiser calls you about another listing in the neighborhood, do you return the call? Yes! Even if you are swamped, and have no time.  The real estate market is on the upswing. With multiple offers going over asking price, values are rising with each sale! Here is the scenario, you get multiple offers on your listing. A neighbor gets excited, and decides to sell their home. They get multiple offers over asking price too. BUT, there are little to NO comparable sales. You are excited, the seller's are excited, and the neighbors are excited. If you have the appraisal contingency still in place, when the appraiser calls for you and the neighbors house...be prepared! Even if the neighbors house is not your listing!  Think big picture....
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
And another three months has flown by, time to check in on the Santa Monica real estate market.  How does the second quarter of 2013 compare to the first quarter.   Santa Monica zip codes differ in pricing and demographics from each other and will be reported separately.  The difference is over the previous quarter. 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 3 +3 $3,520,000 N/A 1 $4,495,000 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 29 +16 $3,250,000 -7.14%% 33 $3,495,000 17 90403 – North of ...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices)
How is the Santa Monica CA Luxury Real Estate Market? For the past five or six months Real Estate is back in the conversation at cocktail parties and any time someone finds out that I am a Realtor they always ask  me “how is the real estate market”? Followed by my questions of what part of Los Angeles? What part of the West Side of Los Angeles? After all my questions, the focus goes to the various local luxury areas. Hence someone asked me: “so how is the Santa Monica CA Luxury Real Estate?” Needless to say I am separating the Single Family Residences and I will address the Condominium market in another Blog Post. Now with that said let us look at the activity in the Santa Monica CA Single Family Luxury RE Market! There are 51 Active Single Family Homes on the Market in Santa Monica, CA...
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
With all the talk about rising homes prices and shortage of inventory, it is time to check on the Santa Monica real estate market performance for May 2013. Is the inventory up, median prices up?  Let’s take a look.   April 2013   Sold +/- March Median Active +/- March New +/- March Pending +/- March Single Family 18 +3 $2,527,500 42 +55.90% 20 +13 30 +21 Condo 40 -1 $621,250 43 -5.87% 20 +13 31 +17   May 2013   Sold +/- April Active Median +/- April New +/- April Pending +/- April Single Family 27 +9 46 $1,620,000 -35.90% 16 -4 46 +16 Condo 39 -1 45 $780,000 +25.55% 20 +8 58 +27 Information provided by MLS/CLAW deemed reliable but not guaranteed The number of new single family homes coming on the market in Santa Monica in May dropped by 4 over April, but new condos rose by 8.  The media...
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By Kim & Kristine Halverson, Sisters, Realtors
(Compass)
Find Silicon Beach Homes for Sale Silicon Beach is LA's tech and start-up community. Santa Monica & Venice is where a large concentration of tech companies choose to be based. The prime beach location is a draw for creative talent and artists. The ability to walk to the beach, great places to eat, drink and be merry creates a great lifestyle. Just sit in traffic for an hour, and see how it drains you! If you are just joining the tech community or are a seasoned pro, t he real estate market is heating up from the Silicon Beach buzz. While interest rates are low, it's time to invest in a home nearby your Silicon Beach office. Silicon Beach Homes for Sale Silicon Beach is a great source of inspiration, and has created a strong sense of community. A sense of community provides a source of f...
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By Jodi Summers, Our reputation assures your satisfaction.
(Sotheby's International Realty)
OCEAN PARK, SANTA MONICA ACTIVITY REPORT < SOLD IN 2013 by Jodi Summers For the Real Estate curious, we offer you sales information on 3 types of properties selling in Ocean Park, Santa Monica, CA 90405.   Residential Single Family Homes Multifamily Properties Condominium Units This information is as of May 15, 2013, for the most current information on Ocean Park sales and Santa Monica Real Estate activity,   Residential Single Family Homes 212 BICKNELL AVE BR: 2 BA: 1.00 Sale Price:  $1,100,000 Sale Date:  1/25/2013 Lot Size +/-:  3,606 Year Built: 1910 Beautifully restored and well maintained classic California Bungalow just a stone’s throw away from Main Street and just a few blocks to the beach. ** 807 NAVY ST BR: 4 BA: 3.00 Sale Price: $1,013,000 Sale Date:  1/31/2013 Square Footag...
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By Kim & Kristine Halverson, Sisters, Realtors
(Compass)
Selling Your Home? Know Where The Buyers Are. As a listing agent it is important to know where the buyer's are coming from so I know where to focus my marketing. Be sure your listing agent is spending their time, and advertising budget to attract buyers for your home. Afterall, it's more than putting a sign in the yard. Did you know only 10% of buyers found their home through a for sale sign or an open house sign? The majority of home buyers in 2012 found their home on the internet, and through a real estate professional. Interestingly, buyer's typlically look for 12 weeks total, and 3 weeks before contacting an agent. 89% of buyer's purchased their home through a real estate agent or broker. Home buyers chose to work with a real estate agent to help them find the right home, and benefi...
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By Kim & Kristine Halverson, Sisters, Realtors
(Compass)
Relocating from Silicon Valley To Silicon Beach? If you're new to Los Angeles, and relocating from Silicon Valley, Welcome to Silicon Beach! Most tech jobs are found in Santa Monica and Venice Beach. Santa Monica is known for it's excellent schools, and Venice Beach is known for it's creative vibe. However, there are other area's that are more affordable. Mar Vista is still within a bicycle ride. So is Marina del Rey. If you're drawn to planned communities with lots of parks, Playa Vista is a good option. If you're okay with airport noise, Playa del Rey could work too. If you'd like a more urban vibe, yet still want to be west of the 405, consider Brentwood. These are only a few of the Westside communities of Silicon Beach. To find out the neighborhood that fits your needs and lifestyle...
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
With the low inventory still frustrating buyers in the Los Angeles area, let’s see what happened with Santa Monica real estate in April.   Sold +/- March Active Median +/- March New +/- March Pending +/- March Single Family 18 +3 42 $2,527,500 +55.90% 20 +13 30 +21 Condo 40 -1 43 $621,250 -5.87% 20 +13 31 +17  The number of new homes coming on the market in Santa Monica in April rose by 13 over March for both single family homes and condos.  This is rather encouraging news.  The median price of new single family homes is $2,172,500 and for condos, $1,062,000 The number of pending homes also increased significantly. The number of sold homes was up modestly for single family and slightly down for condos. One month does not a trend make, so let’s see what happens in May. Previous Reports S...
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By Jodi Summers, Our reputation assures your satisfaction.
(Sotheby's International Realty)
by Jodi Summers All the residential real estate news this month is about recovery. The optimism spreads across business sectors and is sprawled across all kinds of specialized news mediums. Check out the headlines and the highlights… Median Home Prices in SoCal Continue Upward Climb – DQ Real Estate News and Information Services The median price paid for a Southern California home hit a 56-month high in March, rising 23.4% from a year earlier as the impact of foreclosures continued to fade and sales of mid- to high-end homes shot up. Total sales were the highest in six years for a March. In Los Angeles County, the median price increased by 24.2% over the year in March to $380,000. (FYI, for Santa Monica + Venice residences the median sale price was $1,350,000.) Home-Seller Confidence Do...
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After reading a nice blog roll on Activerain about "pocket listings", it appeared to be loud and clear that without the MLS and its primary function (exposure), the traditional brokerage model would be in big trouble.That seems logical, the MLS is the heart and soul of the industry, it's the way business is done.  The system is well ingrained and the cement is dry.A question this raises is why?  Why can't brokerages go about the business of connecting buyers and sellers without the help of their competitors?Could it be because the broker is void of a broad, strong and scalable value proposition for one party in the deal - the buyers?Sellers, well that's an easy one...exposure and expertise are at the forefront. But what do we sell buyers?  They already know what's on the market, know wh...
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By Jodi Summers, Our reputation assures your satisfaction.
(Sotheby's International Realty)
by Jodi Summers We’ve had our earthquakes. The East Coast has their hurricanes. Power lines go down. Gas pipes get broken. Last November, after Hurricane Sandy, no one was permitted to turn on the gas until their property was inspected. You have tenants. Under what circumstances can you enter your tenant’s unit without giving them appropriate notice? The law says, a landlord should not force entry except when there is a true emergency, such as a fire, to address a suspected gas or water leak, to respond to sounds of distress inside…the common thread is that landlords may enter to stop serious property damage or personal injury Under California Civil Code 1954, a landlord may enter a tenant’s unit without permission ONLY: (1) in an emergency, like a fire or broken pipe, or (2) upon reaso...
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By Jodi Summers, Our reputation assures your satisfaction.
(Sotheby's International Realty)
by Jodi Summers The good news rose like a phoenix from the bleakness of winter. In February, the median sale price on existing California homes ascended 24.2% to $333,880 < marking a full year price gains. The California Association of Realtors added that sales of homes priced above $500,000 increased by nearly 31% over the year (our neck of the woods) compared with sales of homes priced below $300,000 which declined by 27% over the same period…basically homes priced below $300,000 are disappearing. Lack of inventory is creating fierce competition for available homes > elevating the median sale price. Have you had the chance to experience the frenzied bidding wars taking place on properties north of Montana Ave.? Well-priced homes for sale in the areas of much-coveted Franklin and McKin...
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
Amazingly we are already into the second quarter of 2013.  Let’s take a look at how the Santa Monica real estate market did in the first quarter compare it to the last quarter of 2012.  Santa Monica zip codes differ in pricing and demographics from each other and will be reported separately. 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 =  N/A N/A 2 $4,122,500 1 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 13  -21 $3,500,000 +24.16% 20 $4,345,000 14  90403  – North of Wilshire, parts of Ocean Ave...
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By Kim & Kristine Halverson, Sisters, Realtors
(Compass)
My #1 Fear About The Silicon Beach Real Estate Market Shift My #1 fear about the Silicon Beach real estate market shift from commercial to residential is listings. As you may know Los Angeles, especially the Westside, is being name Silicon Beach. The Los Angeles tech scene continues to grow. Large branded companies, and start ups are taking foot in Silicon Beach. Commercial space is getting more expensive, spaces like ROC are serving start ups who choose not to plunk down the cash in an expensive lease, and smartly are leading with revenue. As a result, residential real estate is heating up. Back to my #1 fear, a shortage of listings. Right now, we have more buyers than seller's in the Silicon Beach areas of Santa Monica, Venice and Playa Vista. Every listing we place on the market for ...
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By Kim & Kristine Halverson, Sisters, Realtors
(Compass)
We Live In Santa Monica, Should We Stage Our Home When Selling? If you own a home in Santa Monica chances are you know how many people love this beach city.  Chances are you were one of them before moving to Santa Monica.  When selling your home you may know that it's desirable due to the location.  So you might not be aware that there a few things you can do to attract buyers, and get even more money for your Santa Monica home when selling.  A big one is home staging.  We just had a wonderful sale in Santa Monica.  Because the seller did staging they had multiple offers and made five times their money on the cost of staging.  It really works for all homes large and small.  The stager knows how to position your home for a buyer.  A professional home stager will go through every detail o...
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By Kim & Kristine Halverson, Sisters, Realtors
(Compass)
How Is the California Real Estate Market? The California real estate is on the upswing. February's numbers are in, and we are nearing the end of the first quarter for 2013. Low inventory, and low interest rates are driving the local market here in Santa Monica. Another factor pushing value and demand upward is L.A.'s tech community affectionately named Silicon Beach. Commercial space is in demand, therefore the talent and executives are seeking homes and rentals. According to California Association of Realtors, February Home Sales Report: “The demand for homes remains solid, but a shortage of homes for sale, especially in the lower-priced segments, is negatively impacting housing sales,” said C.A.R. President Don Faught.  “Sales of homes priced above $500,000 continue to be strong, post...
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