Jodi Summers = Santa Monica Real Estate

FOR SALE IN OCEAN PARK, SANTA MONICA ~ 5-10-2013

Our Dream House

120 HART AVE.

ASKING PRICE:  $4,995,000

BR:  3 BA:  3.50

Bungalow with Big Yard

511 MARINE ST.

ASKING PRICE:  $1,970,000

BR:  2 BA:  1.00

Bring your Imagination to this Great Beach Gem

713 OZONE ST.

ASKING PRICE:  $859,000

BR:  1 BA:  1.00

2 Bungalows on 1 lot, 2 blocks to the Beach

2824 2ND ST

ASKING PRICE:  $1,995,000

BR:  2 BA:  2.50

5 Units that will Always be Rented

2524 5TH ST

ASKING PRICE:  $1,599,000

5 UNITS, LOT SIZE:  5,483, BUILDING SIZE:  2,852

GOI:  $84,333 ~ NOI: $50,420 ~ GRM:  18.96

Life on the Boulevard

512 OCEAN PARK BLVD.

ASKING PRICE:  $1,725,000

5 UNITS, LOT SIZE:  5,737, BUILDING SIZE:  3,132

GOI:  $100,209 ~ NOI: $72,698 ~ GRM:  16.70

4-Bedroom Townhouse with Lots of Light

2911 4TH ST #117

ASKING PRICE:  $1,175,000

BR:  4 BA:  2.50

Live + Love in Ocean Park

2002 4TH ST #112

ASKING PRICE:  $449,000

BR:  1 BA:  1.00

Is this the kind of property you’re looking for?

Jodi Summers

The SoCal Investment Real Estate Group

Sotheby’s International Realty

310. 392.1211

jodi@jodisummers.com

www.SantaMonicaPropertyBlog.com

p.s. a. This is not intended as a solicitation if your property is already listed with another agent.

b. We are not the listing agent on these properties, and cannot be held responsible for incorrect information.

Should you wish to unsubscribe from this emailing, please hit the reply button, and write unsubscribe in the headline of the email.

FOR SALE IN OCEAN PARK, SANTA MONICA ~ 3-19-2013

by Jodi Summers

Finally, we have some inventory in Ocean Park, Santa Monica. There are currently nine properties for sale in our dynamic walkable neighborhood at the beach, just north of Venice. Every day feels like a holiday in Ocean Park. Here’s what we can help you buy today, courtesy of 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.

2721 2ND ST # 112

asking price: $499,000

1 Bedroom, 1 Bathroom

IF YOU LIKE QUALITY & LOCATION, THIS RARE CORNER UNIT, OCEAN PARK, BEACH PAD IS FOR YOU. NICELY UPDATED & READY TO GO. LARGE NEW WINDOWS LOOKING OUT TO GREEN GRASS LOCATIONS. CROWN MOLDING THROUGHOUT. GATED, 2 CAR TANDEM PARKING (RARE FOR 1 BR UNIT). BEAUTIFUL FLOORS. GREAT NATURAL LIGHT & OCEAN BREEZE. OPEN FLOOR PLAN. SECURED COMPLEX.

**

3007 3RD ST # A

asking price: $649,000

2 Bedrooms, 2.00 Bathrooms

AN ABSOLUTE DIAMOND IN THE ROUGH IN A SENSATIONAL LOCATION! THIS IS A WONDERFUL CRAFTSMAN COTTAGE SITTING ATOP THE HILL, IN OCEAN PARK, WITH OCEAN VIEWS AND A BEAUTIFUL FRONT GARDEN AREA WHICH WITH A LITTLE IMAGINATION COULD BE SENSATIONAL! NOT FOR THE FAINT OF HEART, THIS EXTREMELY PRECIOUS TURN-OF-THE-CENTURY 2 BEDROOM, 2 BATHROOM COTTAGE IS READY TO BE REMODELED AND RE-IMAGINED!

**

2960 NEILSON WAY #105

asking price: $690,000

1 Bedroom, 1.50 Bathrooms

GORGEOUS CORNER UNIT WITH LARGE PATIO TO TAKE IN GREEN BELT VIEWS AND WONDERFUL OCEAN BREEZES AT PRESTIGIOUS SEA COLONY II. ENJOY ALL THIS LOCATION HAS TO OFFER. CLOSE TO THE OCEAN AND MAIN STREET SHOPS AND RESTAURANTS. SIDE-BY-SIDE PARKING AND 24 HOUR SECURITY.

**

3118 LINCOLN

asking price: $1,295,000

# Units: 1, Lot Size: 4,652

FANTASTIC OPPORTUNITY ON HIGH TRAFFIC LINCOLN BLVD. CORNER LOT – LINCOLN AND NAVY. SMALL IMPROVEMENT ON PROPERTY. CURRENT TENANT IS CAR DEALER.  2003 PHASE ONE ON FILE. ZONED SMC4.

**

208 BICKNELL AVE

asking price: $1,395,000

# Units: 2, Lot Size: 4,796

WELL MAINTAINED DUPLEX NEAR THE CORNER OF BICKNELL AND MAIN. C2 ZONING. GATED ENTRANCE, WITH AMPLE PRIVATE PARKING FOR MANY CARS… TENANT OCCUPIED, PROPERTY SHOWN WITH ACCEPTED OFFER.

**

652 KENSINGTON RD

asking price: $1,395,000

3 Bedrooms, 1 Bathroom

BUNGALOW-INFLUENCED 1927 HOME IS LOCATED IN A QUIET NEIGHBORHOOD BLOCKS TO THE BEACH.  INTERIOR REQUIRES YOUR ATTENTION WITH KITCHEN & BATHS IN NEED OF REMODELING. 3 BEDS 1 BATH ON FIRST FLOOR. 2ND FLOOR IS LARGE OPEN SPACE. ZONED FOR 2-3 UNITS. DETACHED NEWER 2 CAR GARAGE.

**

3009 2ND ST

asking price: $1,550,000

3 Bedrooms, 2.50 Bathrooms

THIS IS ONE OF THE LAST LOTS OF ITS KIND IN THE BEST SANTA MONICA LOCATION. TURN OF THE CENTURY HOME AND GUEST HOUSE JUST SECONDS TO MAIN STREET AND OCEAN PARK. SUN PORCH ENTRY, BRIGHT CHARM FILLED INTERIORS WITH ORIGINAL FIR FLOORS AND VINTAGE MOLDINGS. COOK’S KITCHEN WITH SERVICE PORCH, SECLUDED FRONT AND BACK YARDS. GUEST UNIT 1+1. TOTAL PRIVACY FROM MAIN HOUSE.

**

37 SEA COLONY DR

asking price: $1,795,000

2 Bedrooms, 2.50 Bathrooms

TURNKEY OCEAN VIEW TOWNHOUSE AT THE EXCLUSIVE 24 HOUR GUARD GATED SEA COLONY I AND JUST STEPS FROM THE BEACH. FEATURING HARDWOOD FLOORS THROUGHOUT. ALSO OFFERED FOR LEASE AT $6,850 PER MONTH.

**

2623 5TH ST

asking price: $1,999,000

4 Bedrooms, 5.00 Bathrooms

AMAZING OPPORTUNITY TO BUY THIS UNIQUE LOT W/ PLANS & PERMITS READY TO BE PULLED TO BUILD A MODERN STYLE HOME APPROXIMATELY 6000 SQ FEET, COST OF CONSTRUCTION $1.5M PLUS $230K FOR POOL.18 MONTHS CONSTRUCTION SCHEDULE. PERMIT IS READY AND MUST BE PULLED BY APRIL 14, 2013. DEMO MUST START OCT 14.

**

Do let us know how we can move forward together in meeting your real estate goals 310.392.1211 or jodi@jodisummers.com.

Best….

Jodi Summers

The SoCal Investment Real Estate Group

Sotheby’s International Realty

310.392.1211

jodi@jodisummers.com

www.SantaMonicaPropertyBlog.com

License # – 01343854

**

Things do not change, we change. – Henry David Thoreau

p.s. a. This is not intended as a solicitation if your property is already listed with another agent.

b. We are not the listing agent on this property.

Should you wish to unsubscribe from this emailing, please hit the reply button, and write unsubscribe in the headline of the email.
Sotheby’s International Realty, Inc. is Owned and Operated by NRT Incorporated.

**

http://pro.themls.com/membersonly/All_Searches/prospects_frame3.cfm?theButton=run_prospect_total&search_num=67138765-6543-45bd-8256-bf73017e9e53&update_type=All_Changes

http://www.santamonicapropertyblog.com/?p=4823

544 NEW UNITS COMING TO MARINA DEL REY

Jodi Summers

How did they get the space? Construction has started on a 12-building complex, $120-million multifamily project at 4201 Via Marina in Marina del Rey. Called the Shores, designed by Nadel Architects, the project is scheduled to open in spring 2013.

Located on an eight-plus acre site, the 12 inter-connected, five-story buildings will offer 544 units, with one-bedroom and two-bedroom options, ranging in size and floor plan from 650 square feet to 1,245 square feet. At the heart of the complex lays a two-acre park-like courtyard with lush greenery, open space and outdoor amenities, such as fire pits, BBQs and a pool and spa….not unlike the Shores towers in Santa Monica.

“In dealing with high-density projects such as Shores, we know it is important to include design elements that will not only accommodate the large number of residents, such as private subterranean parking, but also to provide opportunities for chance social interactions,” representatives noted in a prepared release. “The range of outdoor spaces, plus the club, social room, gym, etc. will leverage the resident’s interaction…It is this attention to detail that makes Shores such a unique, near-the-water living experience.”

The County of Los Angeles, which owns and manages Marina del Rey, along with owner and developer Jerry Epstein of Del Rey Shores, LLC, “envisioned the need for renovation and redevelopment to meet the demand for new, quality, higher-density, contemporary apartment living near the ocean.”

The inception of the plan for the project dates back to January 2001. Vice president of Del Rey Shores, David O. Levine explains in a prepared statement that plans went through a “lengthy entitlement and design approval process, and then through the arduous HUD review, and finally to realization in today’s challenging construction environment.”

**

http://www.globest.com/news/12_372/losangeles/multifamily/120M-Multifamily-Project-Moves-Dirt-322400.html?ET=globest:e31093:277110a:&st=email

http://www.santamonicapropertyblog.com/?p=4444

http://www.mdrcondos.com/wp-content/uploads/2011/07/shores.jpg

http://www.agd-landuse.com/images/project6.jpg

http://www.california-blog.com/storage/Marina%20del%20Rey%20Channel.jpg

http://la.curbed.com/uploads/2012.06_shores.jpg

http://www.socalmultiunitrealestateblog.com/?p=1988

HOW LONG DO YOU HAVE TO SAVE TO BUY REAL ESTATE IN L.A. OR SANTA MONICA?

by Jodi Summers

Did you ever calculate how long you have to work and save in order to afford a home? Perhaps yes, perhaps no. Well, here’s a nifty little chart courtesy of The Atlantic Cities to help you figure it out.

Enjoy this calculation of how many years it takes to save enough for a down payment in Los Angeles or any of the 100 largest U.S. metro areas. The statistics come from factoring in local average wages from the Bureau of Labor Statistics’ Quarterly Census of Employment and Wages as well as local housing prices based on the median asking price per square foot of homes listed on Trulia.

The study estimated that people saving for a down payment set aside 10% of their pre-tax earnings and will earn an annual return of 1.5% on those savings. They assumed a 20% down payment, the minimum you can put down without paying insurance on your mortgage.

Notice that affordability varies hugely across metro areas. Sure, individuals have the potential to earn more money in most metros with higher housing costs – but those high wages usually aren’t high enough to offset the even higher housing costs. Among large metros, average weekly wages range from $655 in El Paso to $1809 in San Jose – almost three times as much. But median price per square foot runs from just $46 in Detroit to $459 in San Francisco – nearly ten times as high.

As you can see from the table below, in Los Angeles County, you’ll need to work 15.5 years in order to save enough for a 20% down payment on a typical 2,000 square-foot home costing $236 per square foot….It takes even longer in Orange and Ventura Counties….not to mention Santa Monica, were last month the average sale price is $660.38 per square foot for single family homes and condos combined. So, how long does it take to buy a home in Santa Monica? You do the math.

**

http://www.theatlanticcities.com/housing/2012/08/how-long-will-you-need-save-buy-home-your-city/3085/

http://pro.themls.com/membersonly/All_Searches/reports_action.cfm

http://www.santamonicapropertyblog.com/?p=4588

SAVE THE SANTA MONICA POST OFFICE

edited by Jodi Summers

The Postal Service announced that they are proceeding with plans to relocate the services of the historic Santa Monica Main Post Office to the carrier annex at 1653 7th Street, south of Colorado and the future Expo line.  The Santa Monica Conservancy was among dozens of organizations and hundreds of residents who wrote letters opposing the closure at the time of the July 17 hearing.

We are following this situation very closely, and would like to bring you up to date on three initiatives we are taking:

• Joining appeals of the decision to relocate the Post Office
• Requesting Consulting Party status in the Section 106 Process defined by the National Historic Preservation Act
• Asking our Landmarks Commission to prepare a nomination of the Post Office

See below for details and how you can help.

____________________________________________________________

Appeal of the Postal Service decision to close the 5th Street Post Office: It is our understanding that the City of Santa Monica will be making a formal appeal. The Conservancy will be sending its own letter opposing the decision for closure and ask you to do the same. The Conservancy’s letter will include the following points:

• The Santa Monica Main Post Office is a beautiful historic structure which is recognized in the City’s Historic Resource Inventory as being eligible for the National Register of Historic Places. It has been serving the community since its dedication in 1938 as part of the Federal Works Progress Administration.
• We are very concerned that the proposed sale of the Post Office will place this historic building at risk. The National Trust for Historic Preservation is so concerned about the failure of the Postal Service to provide adequate protections that it has named the Historic Post Offices to its 2012 list of the Nation’s Most Endangered Historic Places. See below for additional concerns about Postal Service adherence to federal laws intended to protect historic properties as they are sold into private ownership.
• Closing the 5th Street Post Office may very well turn a profitable location into one that operates at a loss. The current location in the Central Business District is within walking distance of many local residents and businesses, and accessible by public transit. The outpouring of opposition describes the proposed location as much less convenient and indicates that the facility would be avoided by many – suggesting that it may not generate enough revenue to cover operating costs.

Your letters of support should be sent to:

Vice President, Facilities

Pacific Facilities Service Office

1300 Evans Ave. Ste. 200

San Francisco CA 94188-0200

______________________________________________________

Requesting Consulting Party status in the Section 106 process defined by the National Historic Preservation Act: Under Section 106, the Postal Service cannot sell a historic property without a protective covenant to ensure that the historic property suffers “no adverse effects” when sold. Unfortunately, experience to date indicates the protections put in place are likely to be very weak unless local preservation organizations like the Conservancy request a consulting role. We will be making this request immediately without waiting for the results of the appeal, and will keep you informed of our progress.

____________________________________________________

A Little History: For 74 years, residents enjoyed the U.S. Post Office at Fifth Street and Arizona Avenue. 

Built by then-president Franklin D. Roosevelt’s Works Projects Administration, it opened with pomp—red, white and blue bunting strung across the lawn—in July of 1938.

But now, there’s less of a need for the brick and mortar outlet, Postal Service officials say. About 40% of the agency’s retail revenue comes from the Internet, grocery stores, pharmacies and office supply stores.

Though Santa Monica’s main post office has dodged closure lists since 2009—when expansive plans were first announced to consider shuttering thousands of locations nationwide—it is now being targeted.

Under a plan that still needs to be vetted by the public, the retail services would relocate less than a mile away to a carrier annex facility at 1653 Seventh St. The lucrative downtown property at 1248 Fifth could be sold, said spokesman Richard Maher.

______________________________________________________

Finally, the Conservancy has requested that the Santa Monica Landmarks Commission prepare a nomination of the Post Office so as to be ready to act as soon as the Post Office passes into private ownership, since they have no jurisdiction as long as the building remains a federal property. We understand that this will be on the Commission’s agenda for their next meeting, scheduled September 10 at 7 PM in the Council Chambers at City Hall.

Are you a current member of the Conservancy? Your annual membership contributions support our work to preserve the architectural and cultural heritage of our city.  You will receive our informative quarterly newsletter and discounts on tours and events.

Thank you for your support!

Questions?  Call 310-496-3146 or email info@smconservancy.org.

Mailing Address:
Santa Monica Conservancy
PO BOX 653
Santa Monica, CA 90406
US

Contact Name: Santa Monica Conservancy
Telephone Number: (310) 496-3146

**

From: Santa Monica Conservancy [mailto:info@smconservancy.org]

http://www.surfsantamonica.com/ssm_site/images/images-lookout/2012/IL-08-2012/08_06_2012_post_office_dedication.jpg.JPG

http://santamonica.patch.com/articles/new-deal-era-post-office-targeted-for-closure

http://www.santamonicapropertyblog.com/?p=4579

http://smmirrorstatic.s3.amazonaws.com/media/550/134082341264935.JPG

http://cdn.smdp.com/wp-content/uploads/2012/07/c2CF29ggY22897D0.lg_.jpg

http://www.facebook.com/photo.php?fbid=401924139835541&set=a.401924136502208.103516.401918916502730&type=1&theater

http://www.you-are-here.com/building/post_office.html

SANTA MONICA + VENICE REAL ESTATE SNAPSHOT ~ SEPTEMBER 2012 < REAL ESTATE IS GOOD @ THE BEACH

by Jodi Summers

It’s been a delightful summer at the beach; the ocean breezes make life much so much easier. Those in search of the good life come here, and that’s why the Santa Monica and Venice real estate markets have been gaining momentum all year. If you contrast August 2012 with August 2011, you’ll notice that the median sold price for properties has risen 5% since last year – from an average of $1,195,000 to $1,260,000.

They say good ideas start on the coast and move inland. The June S&P/Case-Shiller report on housing prices checks in with positive across the country. All markets in its 20-city composite are showing gains for the second month in a row. The sample represented by the chart covers about 21% of all of the zip codes in the nation, and is based (like Case-Shiller) on a repeat-sales methodology. The striking aspect is that there haven’t been price increases in the majority of the sample’s zip codes since before 2007.

Bravo! The experts say the across the board price gains offer more evidence that the U.S. housing market has passed the bottom and is now in a period of sustainable recovery.

We’re seeing it here in California. Statewide, sales of existing single-family homes increased by 15.3% in July to 529,230 units (seasonally adjusted, annualized rate). The median price continued its upward climb, rising by an impressive 12.7% to $333,860. Btw, this was the highest median price recorded for an existing single-family detached home in California since August 2008 < and was the fourth consecutive month where the median price was above $300,000. In  Los Angeles County unit sales rose by 9.1% over the year to July and the median price increased by 5.4% to $334,190.

The inventory of unsold single-family detached homes in California was 3.4 months last month, down from 5.6 months in July 2011. Los Angeles County found itself with a 3.4 month supply of single-family homes in July (compared with 5.8 months a year ago). Inventories are exceptionally tight.

At the beach, in August, there was a minimal 1.9 months of inventory on the market. For the record, the historic average for single-family unsold homes in California is a six to seven month supply.

Truly a seller’s market in higher-end coastal communities where inventories are driving sales and price increases.

“There’s virtually no supply in a lot of markets right now,” observes Michael Krein, president of the National REO Brokers Association. “What we’re finding nationally is that 50% of all purchasers are investors because they can outbid the owner occupant buyers. Investors are bidding up anywhere from 5 to 25% over the list prices.”

Investment in rentals, which is coming from small groups rather than Wall Street funds, is filling vacant homes and improving rundown properties. This area is also renewing the demand for construction jobs, notes Tom Shapiro, chairman of GTIS Partners, an investment fund that plans to spend $1 billion on rental housing in the next five years.

“The housing market is turning around,” Shapiro offers. “Maybe the silver bullet for housing is the single-family-for- rent, because it’s underpinning the market. It’s sopping up the excess.”

Investors are taking advantage of home prices that are about 31% below the 2006 peak and growing demand for rentals from people with damaged credit, limited savings or lack of confidence in owning a house.

We’re here to help you with your property needs. 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.

**

http://www.car.org/newsstand/newsreleases/2012releases/668441/

http://www.laedc.org/eedge/index.html#1

http://www.bloomberg.com/news/2012-08-30/distressed-home-prices-jump-with-inventory-shrinking-mortgages.html

http://macroblog.typepad.com/.a/6a00d8341c834f53ef017c31897419970b-popup

http://www.santamonicapropertyblog.com/?p=4549

http://c312629.r29.cf1.rackcdn.com/site/assets/files/8204/461125_4025691809135_1486737870_3560860_871313555_o.570×0.jpg

http://www.capcredit.com/wp-content/uploads/2012/08/For-Rent.jpg