I get kind of excited at the end of the month. I know, I’m a little weird because I enjoy things like Excel and Numbers and creating things that the eye can easily digest when it comes to real estate figures. And at the end of the month, I am compelled to do a calculation that few agents actually do – Absorption Rate for Santa Monica homes for sale. It helps me trend what’s going on in the market and even though I give this information away for free, you are free to use this info in your analysis of the market.
Agents, feel free to share this info, just make note of where it originated from please. Give credit where due.
Anyway, off the soap box. What the hell is going on in the Santa Monica real estate market anyway? Last month we saw a spike in the single family absorption rate and this month is seems to have come down a bit, in fact by a third. I decided to include Santa Monica condos for sale as well so we have a more accurate look at the trends.
(c) WestsideDB All Rights Reserved
“So what does this mean to me, I’m just selling my home or thinking about selling.” you might be asking yourself. Well, I would say that we are clearly in the selling season – summer is here and Labor Day is around the corner. When everyone in Los Angeles comes back from summer vacation, I predict we will see September and October’s numbers come down in these absorption rates. People will come back to routine and school and getting kids off for their day and start buying the inventory that seems to have jumped in the past few months. It seems only natural.
So, if you are contemplating selling your home in this market, the trend is telling us that it is taking longer to sell a home from a supply and demand side. Here comes the honest side of me and sometimes it hurts: As a seller, you have only three things that you control in the sale of your home:
1. Price.
2. Condition.
3. Availability to Show.
The Market will determine everything else. Have a question? Drop a comment or use that Google widget up on the right to call me direct.
See you in the neighborhood.
![[Post to Twitter]](http://samolive.net/wp-content/plugins/tweet-this/icons/tt-twitter.png "August Santa Monica Real Estate Recap")
![[Post to Plurk]](http://samolive.net/wp-content/plugins/tweet-this/icons/tt-plurk.png "August Santa Monica Real Estate Recap")
![[Post to Yahoo Buzz]](http://samolive.net/wp-content/plugins/tweet-this/icons/tt-buzz.png "August Santa Monica Real Estate Recap")
![[Post to Delicious]](http://samolive.net/wp-content/plugins/tweet-this/icons/tt-delicious.png "August Santa Monica Real Estate Recap")
![[Post to Digg]](http://samolive.net/wp-content/plugins/tweet-this/icons/tt-digg.png "August Santa Monica Real Estate Recap")
![[Post to Ping.fm]](http://samolive.net/wp-content/plugins/tweet-this/icons/tt-ping.png "August Santa Monica Real Estate Recap")
![[Post to Reddit]](http://samolive.net/wp-content/plugins/tweet-this/icons/tt-reddit.png "August Santa Monica Real Estate Recap")
![[Post to StumbleUpon]](http://samolive.net/wp-content/plugins/tweet-this/icons/tt-su.png "August Santa Monica Real Estate Recap")
Calendar for September:
September 1 and 15 – Planning Commission – 7 PM – City Hall – Agenda: http://www01.smgov.net/planning/planningcomm/planningagendas.htm
September 4 – “Stepping Out” – Live swing band at the city’s Miles Playhouse, Lincoln & Wilshire – 8 PM
September 7, 14, 21 – “Write-Away” – Fairview Branch Library – 12 PM
September 7 – SMC Board of Trustees – 7 PM – Business Building, Rm. 117
Agenda: http//www.smc.edu/apps/pub.asp?Q=543&B=1
September 11 – Neighborhood Council – Ken Edwards Center – 10 AM
September 11 – Pico Neighborbood Library community workshop – Virginia Avenue Park – 2 PM
September 11 – “Thank You, Mr. Falker” – Morgan-Wixson Y.E.S. Children’s Theater presents
a preview of their new show – 2627 Pico Blvd. – 3 PM
September 14 and 28 – City Council – 6:45 PM – City Hall – Agenda:
http://www.smgov.net/departments/council/
September 16 – FOSP Board/Membership meeting – 7 PM -
Mt. Olive Church – 14th & Ocean Park Blvd.
September 23 – SMMUSD Board of Education – 5:30 PM – District Office – Agenda:
http://www.smmusd.org/board/meetings.html
September 20 – Task Force on the Environment – 7 PM – Ken Edwards Center
September 22 – Commission for the Senior Community – 1:30 PM – Ken Edwards Center
September 23 – SMMUSD Board of Education – 5:30 PM – District Office – Agenda:
http://www.smmusd.org/board/meetings.html
September 25 – Heal the Bay’s “Coastal Clean-Up Day” – 9 AM to 12 noon
September 27 – Social Services Commission – 7 PM – Ken Edwards Center
September 27 – Airport Commission – 7:30 PM – City Hall -
Agenda: www.smgov.net/departments/airport/
Tuesday is the day I run around and look at the inventory on the Westside for my clients. Buyers like to know about properties before they come on the market or when I preview it for them and let them know about a great deal. Sellers I represent like to know about new properties that come on the market that are potential competition for them. After all, when you list your home, you are entering a competition to win – the goal being successfully selling your home.
Take this place I saw today. I have three buyers who this might be a great fit for. Their taste is impeccable and when they walk through the front door, that’s the moment of truth. 930 Berkeley. It just came on the market in a neighborhood that has very little turnover. Just check out the views!
And check out 24 18th St in Venice. You walk out the front door and half a block away is Muscle Beach & the Venice Boardwalk. What an amazing area and again, a street that has very little turnover.
If you squint you can see Muscle Beach in the last photo.
And today’s deal of the day is without a doubt, 4260 Lyceum at $700,000. It is super cute, redone, and with a pool. Apparently there is motivation to sell since they seem so well priced for the area.
Got a question about these properties? Call me with that widget on the right, or shoot me an email. As always, Working Hard, So You Don’t Have To.
The Santa Monica Pier is iconic to the City of Santa Monica and is where, I like to say, “It’s where all the tourists end up”. It’s where Colorado Ave dead ends into Ocean Ave.
View Larger Map
Where all the tourists end up
View of the Pier from the Ferris Wheel
It’s the oldest pier on the West Coast of the US and was featured in Forrest Gump and countless movies. Year round you can head down, grab a fishing pole and try your hand at what’s in the water – and you don’t need a fishing license when you fish off of a California pier. You can rent poles and bait for pretty cheap at the end of the pier as well. If you want to actually see what’s in the water below you, head down to the Aquarium under the Pier run by Heal the Bay. It’s open to the public and an exceptional place to learn about our oceans and where we live – next to the Big Blue. Taking a stroll down the pier usually means braving the crowds, passing by Bubba Gump’s fish house, the name on rice vendor, maybe the guy with his bubble blowing machine, and countless tourists and vendors. You can spend some time (and quarters) at the arcade, or stop by the fish house and see the live crab and fish in the tanks. Then you pick out one to eat! 
Kids will enjoy the famous ferris wheel and the mini-theme park with roller coaster and bumper cars. Yup, usually you can find Kettle Corn, sugary snacks, cotton candy – you know the drill. 
Of course, there’s UNDER the pier too. I don’t think you’re supposed to go there, but I’ve been known to break a few rules now and again. And again. And again. There’s some life rafts tied up vertically to the supporting pylons in case you get caught in high surf (yes, its been known to happen to the best of us) so remember they are there. And remember weird things happen under the Pier when no one’s looking. Expect a vagrant or two, or just a young couple necking. And if you see a middle aged guy running around with his two young kids and it happens to be a Thursday Night at the Pier during the summer Twilight Dance Series, be sure to say hi – It’s probably me with my kids running amok, breaking the rules again.
As a part of a new thread here on SamoLive, we are sharing over 365 things to do in Santa Monica, most of them free too! Since we are just a few days away from the end of summer, and the June Gloom has finally burned off, our first post is dedicated to one of the best places in Santa Monica – the Beach! Whether you’ve got kids, older parents, or just need some solitude, Santa Monica beaches offer something for everyone.
Santa Monica Beach Back in the Day
These days, you can take the Big Blue Bus for 75 cents, drive your car to the Santa Monica Pier, or park in one of the pay lots for 2buck for 2 hours. Visit Perry’s cafe and have someone set up a chair and umbrella for you for a few bucks. Rent a bike and cruise along miles of beach front walk while you dodge surfers running out in the early am to catch a wave or three – yes, Santa Monica has a lot to offer.
Of course, taking your shoes off and walking the packed sand along the lapping shores has its allure as well. If you are looking for peace and quiet, I would recommend dawn or perhaps dusk when the crowds and bus loads of tourists and eastern bound dwellers filter in throughout the day.
What are you waiting for? Stop reading this, grab your towel and sunblock and leave already! I’ll probably see you there!
If you are looking for a deal in Mar Vista, look no further. The good folks at Good Life Enterprises have a new project and again, have hit it out of the park. 4333 Coolidge Ave in Mar Vista, This incredibly well priced home is for sale at $695,000. Its a 4 bedroom, 2 bath completely redone home in a fabulous neighborhood. I am pleased to be a part of this listing that is priced below market value.
For anyone able to come, we will be having a private open house on Friday, August 13, 2010 from 5-7pm. This event is only open to a select few – you being one of them since you read such an awesome blog! You can visit us on Saturday or Sunday as well. And of course, if you need more information, please contact us by using the Google Voice widget in the upper right hand corner of this page.
FREE ELECTRONIC WASTE COLLECTION
Recycle your unwanted electronic waste in an environmentally sound way.
Mt Olive Lutheran Church
in partnership with
California Recycles, Inc. will be offering
FREE ELECTRONIC WASTE COLLECTION
On
Sunday, August 15, 2010
You may drop off as early as Friday, August 13th
at:
1343 Ocean Park Blvd. Santa Monica, CA 90405
Items Accepted:
Computer Monitors, Televisions Sets, Computers, Printers, Laptops, Copiers, Scanners, Fax Machines, Toner Cartridges, UPS, Cellular Phones, PDA’s, Power Supplies, Circuit Boards, VCR/CD/DVD Players, Home Entertainment Systems, Phone Sets, Microwaves, and other Electronics.
- Household Batteries, Fluorescent Light Bulbs, DVD, CD and VHS tapes, and large appliances will not be accepted.
For more information contact the church office at
310.452.1116 or mtoliveoffice@earthlink.net
It’s easy to be green
Even though the June gloom seems to not exactly be burning off this summer season, the Real Estate Market is heating up quite nicely. I’ve been pouring over data about Santa Monica real estate and have found that our absorption rate is rapidly climbing month over month since January 1. What’s Absorption Rate? Its the number of weeks it takes to sell the current inventory at the present rate of sales. That translates to this July took more weeks for a home to sell than in January – March. All because of this silly real estate formula!
And I’ll bet most of you thought we Realtors just put our pictures on bus benches and sat open houses – actually, some of us are working and deciphering the market!
Here’s a snapshot of July 2010 and what’s going on.
Santa Monica is a unique place no doubt, and it has its unique flavors in all neighborhoods and markets. Did you know that the cheapest single family home in Santa Monica is only $479,000?
Granted, it needs work and is one of the smallest lots in Sunset Park Santa Monica, but what the heck? Do you absolutely HAVE to be in Will Rogers School district and only have between $16,765 and $95,800 to spare for a down-payment? Then this could be your prize. We haven’t seen prices like this in a long time. And with interest rates being what they are now, well, you can do the math. Some people are really jumping out of the woodwork to buy a home. If you would like to consult with a professional, I would do so soon.
The market is constantly in flux. If you want to learn how you can save thousands on the purchase of your next Santa Monica home, you might want to start here.
See you in the neighborhood.
We have a contest going for our new listing on 2646 29th St Santa Monica in Sunset Park. All you have to do is guess the final sales price and win this eco-friendly gift basket worth over $150 from Green Life on Main St. 
Plus, you get a fabulous bottle of David Bruce wine, from your favorite real estate agent, WestsideDB. (yeah, my name is David Bruce, “DB” and it’s shameless self promotion, but at least I’m honest about it)
This fabulous home was designed by the “Architect to the Stars” Peter Choate. He sold it to Raymond Hansen, LA’s premier landscape architect who then sold it to the current owner. Listed at $1,699,000 this Spanish Revival home boasts 3 bedrooms, 2.5 baths, 3 fireplaces, and about 2768 square feet. Upon entering the gated compound, the lush greenery invites you in while the soothing water feature lets you know you are in the security of your lovely home. The kitchen is an entertainer’s dream with loads of space and fine finishes.
Enjoy a glass of wine on the back veranda while listening to the bubbling water fountain complete with Koi and enjoy the efforts of Raymond Hanson’s handwork in the landscaping.
Feel miles away from it all and have the best that Santa Monica has to offer just outside your door.
