Santa Monica Property Blog

Santa Monica Pier Twilight Dance Series Needs Your Help

Edited by Jodi Summers

Budgets are being cut everywhere…and a number of the concerts may be cut from the Santa Monica Pier Twilight Dance Series, unless you help.

The board of directors of the Santa Monica Pier Restoration Corporation has given a deadline of March 24, two weeks from now, by which to raise $93,000 to complete the budget of the ten concert series.

Donations are needed. The Santa Monica City Council has lead the fund raising challenge with a grant of $35,000 to the series. Currently, it’s believed that the City has funding for seven concerts – looking to reach funding for a full 10 performances.

$57,000 more to be raised. Respond to the city’s challenge by donating today! – Click here to make a difference. https://www.paypal.com/us/cgi-bin/webscr?cmd=_flow&SESSION=fPWWbmwof1OyikLcka41ycsxvNWgd6K_ogtXeQWUtBCxRXjplLwAdnmtNhC&dispatch=5885d80a13c0db1f059ee17e99acf195b5f3a4b6a78dddb43ff8dd61b662c86b

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http://campaign.constantcontact.com/render?v=001u8SjZbUCyfNOSBaTTmRh9wNV84TISY85hcdwXG6k5HMs0IyBaXJC9QAFI5eesjrPf52nM0KKxJpSZH6z97VtH8OA-LpdNIzqlbvN0EDvhqywu4b0rWVdbWaCWmHMDZgPSHW-m8kAEaoNhiHQWXtJmuRL9c06ZEiu4Oy44OiGx7kPKvA6LTuhmJL2jnS2db1T-laZgYz9Pxk%3D

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HELP SANTA MONICA GET A GRANT FOR GLOW 2010

SANTA MONICA RESIDENTIAL PROPERTY SNAPSHOT – MARCH 2010

By Jodi Summers

Optimistic news on the housing market from two very respected sources – the Wall Street Journal and Forbes. Yeah us! According to Forbes, three of the top ten markets where home prices are rising are in California.

Enjoy this fact for residential real estate in Santa Monica – comparing February 2008 to February 2010, the number of under contract properties is up 120%, according to Clarus Market Metrics.

Asking prices on single-family homes have increased as much as 36% from the previous year in some local cities, Forbes notes, an indicator that is “a bounce off the bottom of the bubble bursting.”

In Santa Monica, contrasting Feb. 2008, to Feb. 2010, the median price of for sale properties is down 15% and the median price of sold properties is down 10%.

Three of the top ten markets where home prices are rising are in California. They say it’s because markets in that state were inflated earlier, many were well positioned to make a comeback even before the larger economy recovered. According to the 2010 National Apartment Index Report by Marcus & Millichap, our sister city, San Diego, came in @ No. 2 (behind Washington D.C.) as a residential market to watch due to expectations for resumed employment and household growth. (Los Angeles is @ No. 13, thanks to perceived strengths in our marketplace. )

Forbes notes rising prices in the SoCal cities of Poway and Arcadia, as well as Sunnyvale up in Silicon Valley. You will be delighted to note that in Arcadia, prices increased an average of 28%. Inventory is up, and prices “overall” are on the rise, following “a natural seasonal trend for healthy markets, but it hadn’t been reflected in California since the bust.”

“That natural seasonal stuff didn’t happen in 2008 in the California markets,” observes Michael Simonsen, CEO of Altos Research. “2007 to 2008 was the big bust, so the expected seasonal uptick didn’t happen. It did in 2009.”

In Feb. 2008, we had 10.6 months of property inventory on the market. In Feb. 2010, the average months supply of inventory is down -53.1% to about 5 months. Sages say 3.7 is parity in the marketplace..

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Another infobyte to bolster your confidence in the local residential real estate market - the Wall Street Journal proclaims that shadow inventory is unlikely to hurt the marketplace. Nearly 5 million houses and condos, of which the mortgages are delinquent, will go through foreclosure over the next few years, concludes research by John Burns Real Estate Consulting Inc. The study also presumes that there is strong investor demand for these properties, “as long as employment continues to recover and interest rates remain moderate, these sales won’t have much impact on overall prices.”

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We would like your real estate business. If we can provide you with more detailed information, please contact the SoCal Investment Group through Jodi Summers, Jodi@jodisummers.com. We look forward to working with you in your next real estate transaction.

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http://www.realtor.org/rmodaily.nsf/pages/News2010021602?OpenDocument

http://www.forbes.com/2010/02/25/housing-sales-decline-markets-equities-real-estate.html?partner=alerts

https://www.terradatum.com/

The Wall Street Journal, James R. Hagerty (02/16/2010)

THE FUTURE OF TRAFFIC ON OLYMPIC BLVD

Courtesy of Zina Josephs

Edited by Jodi Summers

The distance on Olympic Blvd., from 26th St. to Centinela (north leg) is 0.64 miles.

The distance on Olympic Blvd. from 26th St. to Bundy Avenue is one mile.

Below are business development projects that are vying to go in near or along Olympic Blvd. in the LMSD zone, between 26th St. and Centinela. Except for Draft Environmental Impact Report figures, the following are “guesstimates”:

1) Agensys, Inc. – Possibly 1,200 daily car trips.

2) Bergamot Transit Village Center — Possibly 15,000 daily car trips

3) New Roads School (aka Herb Alpert Educational Village) – Possibly 1,200 daily car trips.

4) Paseo Nebraska –  Possibly 5,000 daily car trips.

5) Roberts Business Center — Possibly 2,200 daily car trips

6) SMC Academy of Entertainment & Tech – 450 pkg spaces — Possibly 2,700 daily car trips

7) Village Trailer Park — Possibly 2,700 daily car trips

2834 Colorado Creative Studio Project — 1,796 new daily car trips, according to the Draft EIR

This adds up to: 31,796 daily car trips.

As of 2006, Olympic Blvd. had: 33,880 daily car trips between between 26th & Centinela.

Now add the following:

9) Bundy Village & Medical Park – LMSD-adjacent, at Olympic & Centinela — 20,073 daily car trips, according to the Draft EIR.

The grand total is: 85,749 daily car trips.

That’s about the total number of residents we currently have in Santa Monica — it’s an astronomical amount of traffic – and impossible to integrate into our road capacity.

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Info courtesy of Zina Josephs of the Friends of Sunset Park community group.

http://www.piercemattie.com/blogs/olympic.gif

SANTA MONICA TRAFFIC COUNTS

SANTA MONICA TRAFFIC COUNTS

Edited by Jodi Summers

According to the L.A. Times, vehicle counts in Santa Monica showed increases in evening rush-hour traffic from 2002 to 2007 as follows:

Olympic and 20th — 93% increase (7,082 cars every 15 minutes)

Olympic and Cloverfield — 14% increase (5,500 cars every 15 minutes)

Pico and Lincoln — 8% increase (4,844 cars every 15 minutes)

Wilshire & 26th — 7% increase (4,841 cars every 15 minutes)

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http://latimesblogs.latimes.com/photos/uncategorized/2008/05/19/wheres_the_subway.jpg

SANTA MONICA PIER CENTENNIAL TONIGHT! CELEBRATE WITH US

PIER CENTENNIAL TONIGHT! CELEBRATE WITH US

shared by Jodi Summers

Come one come all, Santa Monica’s throwing yet another party… The Santa Monica Pier celebrates its Centennial with the festivities starting at 6 PM tonight on the Pier.

The festivities include -

A Reopening, followed by a reenactment of the famous photo of civicleaders celebrating the Pier Sign with “fanfares and flourishes” played bythe Los Angeles Brass ensemble. The party continues with musical acts,Vybration, Big Bamboo Steel Band and Dick Dale, the king of surf guitar.Celebrity hosts include Joan Baez + Robert Redford.

FIREWORKS START AT AROUND 8:45PM AND WILL BE THE BIGGEST IN THE LAST TWENTY YEARS. Best viewing is from the beach on either side of the Pier. Come early and stake out your spot for the show!

A note on parking - Santa Monica parking garages expect a big crowd and willRAISE THE FEE FROM $3 TO $15 TONIGHT ONLY FOR PARKING AFTER 6PM!

For the history of the pier check out:

http://www.santamonicalandmarks.com/landmk32.html

http://www.santamonicapropertyblog.com/?p=287

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Ocean Park Association Home Page: http://opa-sm.org

MARKET SNAPSHOT - SANTA MONICA CONDOS + HOMES UP AND DOWN

by Jodi Summers

Are we coming out of our recession? Perhaps when it comes to condos. From July 2008 – July 2009 condo prices in Santa Monica were up by 11% to a current median sale price of $685,500.

But truly, is it just about the price of what sells in any given month? In the single family realm, for the same time frame, Santa Monica Home Prices dropped 25% to an average price of $1.5m.

ENJOY SANTA MONICA’S GREEN OFFICE BUYING GUIDE

ENJOY SANTA MONICA’S GREEN OFFICE BUYING GUIDE  

Find it @ http://www01.smgov.net/epd/SP/greenoffice/main/index.html

Have to love Santa Monica – the city is out there, oftentimes so far ahead of the curve that they make their own rules. In an effort to stay a nationally recognized leader in “green” purchasing and sustainable city programs, the City of Santa Monica  invites you to explore our virtual tour of a “green” workplace.  See for yourself the exciting opportunities that are available to create a healthier, more sustainable work environment.

http://www01.smgov.net/epd/SP/greenoffice/main/index.html

This site will assist anyone interested in purchasing products designed to use water and energy efficiently, preserve trees and natural resources, be less toxic and less polluting, and not threaten air quality.  This site is the most current and comprehensive resource you’ll need to make smart, sustainable procurement decisions.

You now have the tools. Please go out and make the world a better place.

SANTA MONICA PIER CONCERT SERIES ANNOUNCED

edited by Jodi Summers

We know you’ve been wanted the schedule for the 25th Annual Twilight Dance Series.

Allow us to present it to you without editorial comment…

July 2 - Playing for Change Band

Bushman (Jamaican Reggae)

July 9 - Joan Baez

with Special Guest Tift Merritt

July 16- Sergent Garcia

Ricardo Lemvo & Makina Loca

July 23 - LA MONICA REDUX BALLROOM >

Squirrel Nut Zippers

Johnny Vana & the Big Band Alumni

July 30 - Orchestra Baobao

August 6 - Dave Alvin & the Guilty Women

Paul Thorn

August 13- Idan Raichel Project

Elijah Emanuel

August 20 - Venice

Lukas Nelson & the Promise of the Real

August 27- Lila Downs

Very Be Careful

For more information about the Twilight Dance Series, visit www.santamonicapier.org

OR CALL (310) 458-8901.

http://www.santamonicapier.org/

http://www.santamonicalandmarks.com/landmk32.html

http://www.santamonicapropertyblog.com/?p=908

BE SAFE – KNOW WHAT’S HAPPENING WITH SANTA MONICA’S CRIME MAPPING SYSTEM

Edited by Jodi Summers

 Live in Santa Monica? http://www.santamonicapd.org/crimemapping let’s you know exactly what’s happening in your neighborhood. The Santa Monica Police Department’s new crime mapping system is available for public use.

Always ahead of the curve, SMPD’s system allows the public direct access to crime data for the City of Santa Monica. The data is available for crimes that have been reported within the last 90 days and is updated daily.

The system may be accessed via the Internet at http://www.santamonicapd.org/crimemapping.

Search by crime type proximity to an address, intersection or landmark, as well as for the entire City or within the boundaries of the Police Department beats.

The maps and/or reports from the system may be printed or saved in PDF format.

Due to the unique and sensitive issues surrounding sex-related crimes, the Police

Department does not include information about those crimes through the system. In

order to obtain information about sex-related crimes, please contact the Criminal

Investigations Division at (310) 458-8451.

The Police Department will continue to post daily reports of Calls for Service logs and Arrest logs on our website - http://www.santamonicapd.org.