November 21, 2014 on 4:37 pm | In Buyers, Fascinating Information, Market Snapshot, Statistics, Uncategorized | 2 Comments

by Jodi Summers

Fascinating facts and boring charts on owners and renters, according to the 2012 American Community Survey:


The typical owner-occupied household is headed by an individual between 45 to 54 years of age.  The median household income in 2012 was $65,514. The average household size was 2.7 occupants with the most common household type being married.


The typical renter-occupied household is headed by an individual between 25 to 34 years.  The median household income in 2012 was $31,888. The average household size was 2.53 occupants with the most common household type being single.



Nearly 17 million or 22.7% percent of all owners are between 45 to 54 years.  The largest share of renters falls within the age bracket between 25 to 34 years. Just over 11 million of 26.4% of all renters are between 25 to 34 years.


The median income for rent-occupied households was $31,888. The median income for owner-occupied households was more than twice that amount at $65,514.

A large share of renter-occupied units is single-income households. Nearly ten million or 26.1% percent of all renter-occupied units are single-income households. Only 13.3% of owner-occupied units are single-income households. The largest share of owner-occupied units is married households at 60.1%.

According to the Bureau of Labor Statistics 2012 Consumer Expenditure Survey, average income for married couples with children was $98,104. The average income for all married couples was $90,393 in 2012.












November 4, 2014 on 6:06 pm | In Fascinating Information, Fun, fUNNY...mONEY, Market Snapshot, Market Trends, Statistics, Uncategorized, websites, WOW | 4 Comments

by Jodi Summers

The residents of Santa Monica tend to think they live in their own little self-contained city, with its own government, business economy, water supply and elitest real estate process.

Those on the outside of the “Republic of Santa Monica” see this city by the sea – with a daytime population of 250,000 and a nighttime population of 90,000 residents as a suburb of Los Angeles. The website Movoto.com has, rather curiously, named Santa Monica one of the 10 smartest suburbs in America. Check out the top 10 list and we’ll dialogue further…

1. Santa Monica, CA

2. Evanston, IL

3. Berkeley, CA

4. Cambridge, MA

5. Towson, MD

6. Cupertino, CA

7. Scottsdale, AZ

8. Newton, MA

9. Seal Beach, CA

10. Alameda, CA

Movoto defined a suburb as any large population center near one of the nation’s 50 largest cities, and factored in whether or not the place was called a suburb on Wikipedia, in the list of inner-ring suburbs, or in any official capacity. Wikipedia defines a suburb as,”A residential area or a mixed use area, either existing as part of a city or urban area or as a separate residential community within commuting distance of a city.”

The methodology involved collecting data for 109 different suburbs using business listings, www.Greatschools.org, and the U.S. Census American Community Survey. Then, they were ranked from 1 to 109 in the following criteria:

Colleges and universities per capita

Public libraries per capita

Museums per capita

Percentage of students with bachelor’s degrees or higher

High school graduation rate

GreatSchools.org rating (based on test scores for the area)

We averaged these rankings into one overall Big Deal Score, where the lowest score was the best and brightest suburb, none other than Santa Monica.

Smartest Suburbs in America

1. Santa Monica, CA

Sure, we’ve got our beach and our pier, and real estate prices that average around $2,000,000 for a single family home, but did you realize that Santa Monica has the sixth most museums per capita out of all 109 places? It also ranked 10th overall for the percentage of its population who have bachelor’s degrees or higher (64.5 percent) and 11th for the number of nearby colleges and universities per capita. Bravo to us…

Here’s the big list:

To find out about all the other smart suburbs, go here…










October 23, 2014 on 12:41 pm | In Fascinating Information, Federal Government, Of Local Importance, The City of Santa Monica says, Uncategorized, websites, WOW | 2 Comments

by Jodi SummersSanta Monica Elections

It is election season. At the recent Santa Monica Squirm Night candidates for three sets of City positions were grilled by editors and guests of the Santa Monica Daily Press newspaper. As a city, we are blessed to have so many competent candidates to choose from. But, it was one of the sponsors – ProCon.org came out as a clear winner from the Squirm night debates.

ProCon.org – http://www.procon.org/ – is a 501(c)(3) nonprofit public charity with the purpose of providing resources for critical thinking and to educate without bias. They research issues that are controversial and important, and freely present them in a balanced, comprehensive, straightforward, vote buttontransparent, and primarily pro-con format.

Their presidential election websites helped millions of voters evaluate the candidates, so now they’ve expanded to local elections. Because they are a local business, Santa Monica is ProCon’s rollout for local election information. You can check public opinion metrics for City Council, School Board and College Board candidates.

Here’s how each quiz works:

  1. Selecting Yes or No for a question determines your candidate matches (% agreement). You’re matched only on yes and no responses you and the candidates have in common.Santa Monica candidate quiz

2. When you select “Neither or Unsure,” the question is not calculated in the result.

  1. You don’t have to answer every question.
  1. Candidates’ responses and positions are taken from questionnaires they each completed for ProCon.org.
  1. Remember to vote on November 4, 2014.

ProCon.org has gathered views from the City Council, School Board and College Board.candidates into one website, so you can see what they have to say about issues in the community. Click on a candidate, click on an issue, or take the quiz to see which candidate best matches your views on those issues. More than 600,000 people took a similar version of our quiz for the 2012 presidential election.

Candidates’ responses (no more than 200 words long) and positions (pro, con, or not clearly pro or con) are taken directly from questionnaires they each completed for ProCon.org. They have edited lightly for spelling, grammar, and nothing else.

My-Vote counts







October 2, 2014 on 10:13 am | In Buyers | 2 Comments

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 $480,280, the highest recorded since 2007.

Real estate in Santa Monica escalates exponentially.  If we look at Clarus Market Metrics calculations on the sale price of all residential properties in Santa Monica – houses, condos and apartment properties – from September 2013 to 2014 the median sold price is up 40%.

Looking at county-wide statistics, the aggregate value of property in the City of Los Angeles was $467 billion. Long Beach had the second-highest property valuation, coming in at $49 billion, Santa Monica at $29 billion, Santa Clarita at $26 billion and Torrance at $26 billion.

Around Santa Monica, an exceptional array of properties are on the market. If we look at Ocean Park 90405, there are several architecturally dynamic properties including the reconstructed 1925 Craftsman family compound at 3008 3rd St. for $4,188,000; a 1902 Victorian character cottage loaded with old world charm at 138 Wadsworth selling for $3,699,000. 2621 2nd St. is “an amazing one of a kind architectural home awaits you in this historic church that was converted into an inspiring & artistic home!”

Looking at Ocean Park multifamily… 2411-2417 2nd Street offers eight freestanding bungalows on a 9,851 square feet lot for $4,595,000. The Pacifica Apartments @ 501 Pacific Street, offers a 28-unit, 1990 construction, non-rent controlled apartment complex featuring two buildings totaling 20,960 sq.ft. on 28,000 sq.ft. of land for $10,400,000

On the commercial front, 2323 Lincoln Boulevard is a development property on the east side of Lincoln Blvd. with a FAR of 1.5. Additionally there is a pocket listing for a 3,000 sq.ft. live/work architectural at Navy + Lincoln. The site offers 3-suite, 2.5 bath, a huge loft space and 19′ ceilings.

For more information please contact Jodi Summers and the SoCal Investment Real Estate Group @ Sotheby’s International Realty – jodi@jodisummers.com or 310.392.1211, and let us move forward together.








Not all of the properties mentioned in the above article are the listings of the author or Sotheby’s International Realty.



What’s Next for the Santa Monica Civic Auditorium?

September 20, 2014 on 7:56 pm | In Fascinating Information, Fun, Historic Properties, Of Local Importance, Santa Monica Landmarks, The City of Santa Monica says, Uncategorized | 3 Comments

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

questions call the Cultural Affairs Division at 310-458-8350.

Este es un aviso sobre los talleres para planear el futuro del Auditorio Cívico de Santa

Monica. Para más información llame a Lisa Varon al número 310-458-8350.

Use #FutureSMCivic to share your thoughts about the future of the Civic on social media.

Sponsored by


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