WHERE REAL ESTATE BUYERS ARE PAYING CASH

May 10, 2014 on 8:16 pm | In Buyers, Fascinating Information, fUNNY...mONEY, Lights Camera Transaction, Market Trends, Statistics, Uncategorized | 2 Comments

edited by Jodi Summers

All cash buyers Nationally

Cash sales made up 41.2% of total home sales in January 2014, down from 43.5% the previous year, but up from 38.4% from the previous month. This CoreLogic chart ntoes that Florida had the largest share of all cash buyers with 59.8%, followed by Alabama (58.5%), New York (51.9%), Missouri (50.1%) and Mississippi (49.5%).

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http://www.corelogic.com/blog/authors/molly-boesel/2014/04/cash-sales-share-ticks-up-in-january.aspx#.U0ilJlepa2G

REASONS TO LOVE SANTA MONICA – FISCAL RESPONSIBILITY

April 20, 2014 on 4:31 pm | In Fascinating Information, Of Local Importance, The City of Santa Monica says, Uncategorized, WOW | 5 Comments

edited by Jodi Summers

If your city does well, it would stand to reason that the city’s inhabitants would fare well as well. Residents reap the benefits by having a good quality of life, good schools and services. Life is easier.

The City of Santa Monica is making it easier as well. One of the hallmarks of the current administration is the recent transition to a two-year budget cycle. Santa Monica is proud of our long history of good government and fiscal responsibility. The City would like to share some of their achievements in sustaining our fine position:

• Maintained its AAA credit rating (held since 1995)

• Increased its “rainy day” reserves to 15%, established a $9.7 million Economic Uncertainty Reserve, and currently maintains total reserves of 18%;

• Received the Government Finance Officers Association (GFOA) Certificate of Excellence in Financial Reporting in each of the last 29 years;

• Achieved a 5% General Fund budget decrease in fiscal year 2013-15 biennial budget;

• Paid down retirement unfunded liability using savings, lowering retirement costs by $1.4 million per year;

• Adopted financial planning revenue and expenditure policies to guide the development of balanced budgets in accordance with best practices.

Just so you know, the City of Santa Monica maintains an internal auditor position, and external audits show no deficiencies in controls or financial practices. All of these accomplishments serve to ensure that over time, Santa Monica can weather the inevitable downturns in the economy.

Additional savings have been achieved through a number of changes to employee salaries and benefits, including:

• City employees have contributed toward their pensions since they were increased in 2007, and currently pay up to 9.2% of salary towards retirement.

• Employees have paid increased contributions toward health care costs over the past four years.

• Retirement benefits for new employees were lowered even before enactment of California’s pension reform bill.

The City of Santa Monica is proud of its consistently balanced budget, and the manner in which its financial policies in open meetings. For more information about the city’s budget, go to smgov.net/finance.

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http://www.smgov.net/departments/CMO/PageBuilder.aspx?pageid=9434

http://www.santamonicapropertyblog.com/?p=5448

 

REASONS TO LOVE SANTA MONICA – WE DO IT RIGHT

April 10, 2014 on 4:31 pm | In Fascinating Information, Of Local Importance, The City of Santa Monica says, Uncategorized, WOW | 6 Comments

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

INFRASTRUCTURE/PLANNING

* Tongva Park and Ken Genser Square – Project of the Year, American Public Works Association, Southern California Chapter

* Ocean Park Boulevard Complete Green Street – Project of the Year, American

Public Works Association, Southern California Chapter

* Ocean Park Boulevard Complete Green Street – Green California Leadership Award

Collections Operations Systems – Gold Excellence Award, Solid Waste Association of North America

* Advanced Traffic Management System – Project of the Year, American Public Works Association, Southern California Chapter

* Santa Monica Beach Restrooms – Award of Honor, National Concrete Masonry Association

* Santa Monica Beach Restrooms – Merit in Public/Civic and Sustainable Design,

National Concrete Masonry Association

* Marketing: Santa Monica’s Interactive Party Truck & Outreach Campaign – Silver Excellence Award, Solid Waste Association of North America

SUSTAINABILITY/TRANSPORTATION

* Tree City USA – Arbor Day Foundation

* Big Blue Bus Administration Building – LEED Silver Certification from the U.S. Green Building Council

ECONOMIC DEVELOPMENT

* Most Business-Friendly City – 2013 Finalist LA County Economic Development Corporation

TECHNOLOGY

* Santa Monica Youth Tech – 2013 Public Technology Institute Winner

* Local Voter Information: SMVote.org – 2013 Public Technology Institute Winner

* Be Excited! Be Prepared – 2013 Public Technology Institute, Web 2.0 Recognized

* Best of the Web – 2013 Center for Digital Government

* Citizen-Engaged Community Designation – 2013 Public Technology Institute

Top 100 Fiber Leaders – 2013 Broadband Communities magazine

FINANCE

* Financial Reporting – Certificate of Excellence in Financial Reporting from

the Government Finance Officers Association

 

PUBLIC SAFETY

* SMFD “Stella the Dog” Rescue – Compassion Award from PETA

INNOVATION/COMMUNICATIONS/PUBLIC INFORMATION

* CityTV – Two Emmy Award Nominations

COMMUNITY SERVICES

* The Wellbeing Project – Bloomberg Philanthropies Mayors Challenge

* Santa Monica Public Library – 5-Star Rating, Library Journal Index

* Annenberg Community Beach House – Best Beach Club for the People, Time Out Los Angeles

* Annenberg Community Beach House – Best Place to Swim, Argonaut Best of the Westside 2013

* Outstanding Recreation & Parks – Award Winner, California Association of Park & Recreation Commissioners and Board Members

* 1450 Ocean Camera Obscura Tracing 360˚– Big Draw Inspiration Award 2013

* 1450 Ocean Camera Obscura Plein Air Drawing – Big Draw Inspiration Award 2013

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http://www.smgov.net

http://www.santamonicapropertyblog.com/?p=5447

http://trevorgouldclips.files.wordpress.com/2012/10/weblogobebp.png?w=869

 

NOW IS A GOOD TIME FOR OWNER / USER HOME BUYER

March 27, 2014 on 9:03 pm | In Buyers, Fascinating Information, For Your Purchasing Pleasure, Market Snapshot, Market Trends, Uncategorized | 2 Comments

edited by Jodi Summers

With home prices on the rise, investors are buying fewer homes. Investment properties made up about 22% of home sales last year, down from 24% in 2012 and 27% in 2011, notes the National Association of Realtors.

With fewer cash buyers out there, comditions have become far more favorable for owner/user familes/

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.

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http://blogs.marketwatch.com/capitolreport/2014/03/20/investors-retreat-from-housing-market-as-prices-heat-up/

http://www.santamonicapropertyblog.com/?p=5510

 

 

 

SANTA MONICA REAL ESTATE SNAPSHOT ~ March 2014 > FOCUS ON OCEAN PARK

February 25, 2014 on 9:45 am | In Buyers, Fascinating Information, For Your Purchasing Pleasure, Market Snapshot, Market Trends, Multiunits, Of Local Importance, Sellers, Statistics, Uncategorized | 6 Comments

by Jodi Summers

Here’s an interesting factoid to drop into your conversation. A total 344 residences in Santa Monica sold for more than $1,000,000 in 2013, according to the MLS. 230 of those properties are houses, 114 are condos. 37 of those properties are in Ocean Park.

In California, 39,145 homes sold for $1 million or more in 2013, up 45% from the year before and the best showing since 2007, as per to DataQuick information services.

In 2013, prices in Los Angeles rose 22%. Prices in Santa Monica and Ocean Park saw negative growth.

The MLS determined that in Ocean Park, a total of 99 properties sold – 28 single family properties, 61 condos, 10 multifamily.


As you would expect, the priciest single family home to sell was in the beach tract – the finely finished, steps-to-the beach property sold in June for $4,600,000. The lowest price was in the Borderline neighborhood.  713 Navy – a 760-ft, 2bed+1bath on a 2,123 sf lot, desperately in need of a remodel – priced @ $749k, closed in February for $795,000.

The Median sale price for homes in Ocean Park in 2013 was – $1,512,500.

In Condoland, OP13 saw 61 condos sold. The high was 2912 3RD ST #4, a luxuriously upgraded 3+3 penthouse that, “elevates beach-close living to dramatic new heights.” The bright and open design occupies the entire top floor and showcases lofty ceilings and an abundance of recessed lighting. It sold in May @ $969/sf

The big value 3101 5TH ST #14, a spacious 1+1 that sold early in the year for $260,000. This single story features large living room, patio and subterranean parking.

The median price for an Ocean Park Condo in 2013 was $690,000.

Ten income properties at a median sale price $1,613,500. The standout sale was

3014 4TH ST, which was on the market for the first time in approximately 65 years. This pink, Spanish style 8,100/sf trophy property building features. 21 units on a 15,499 lot sold for $4,350,000 in December.

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.

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http://articles.latimes.com/2014/jan/30/business/la-fi-million-dollar-homes-20140131

http://www.dqnews.com/Articles/2014/News/California/Southern-CA/RRSCA140114.aspx

http://www.santamonicapropertyblog.com/?p=5425

https://www.terradatum.com/cmm/CLAW

http://www.themls.com/mymlsportal

http://www.santamonicapropertyblog.com/wp-content/uploads/2013/05/710-NAVY-ST.jpg

http://4.bp.blogspot.com/-SK9AhiKJkic/TiYWFneCk6I/AAAAAAAAD-U/zPNOIQV_4rY/s1600/Scan.jpeg

 

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