Santa Monica Property Blog

NATIONAL DO NOT CALL LIST CELL PHONE REMINDER

NATIONAL DO NOT CALL LIST CELL PHONE REMINDER

Shortly, all cell phone numbers are being released to telemarketing companies and you will start to receive sale calls.

…. YOU WILL BE CHARGED FOR THESE CALLSTo prevent this, call the following number from your cell phone: 

888-382-1222.
It is the National DO NOT CALL list. It will only take a minute of your time. It blocks your number for five (5) years. You must call from the cell phone number you want to have blocked. You cannot call from a different phone number.

WHAT PRESIDENT OBAMA’S STIMULUS PACKAGE DOES FOR REAL ESTATE

WHAT PRESIDENT OBAMA’S STIMULUS PACKAGE DOES FOR REAL ESTATE

by Jodi Summers

Well, yeah, now we have a stimulus package to kick start our sagging economy. Bet you want to know what it does for real estate - well, according to the National Association of Realtors - this is what has been So here’s what we have achieved:

1.    The loan limits will be raised to $729,750 in high cost areas, like Los Angeles.

2.    A true credit - the tax credit will be raised to $8,000 with NO payback!

3.    Interest rates have come down 125-150 basis points.

4.    The bill offers more than $50 billion in it for foreclosure mitigation, with Geitner’s Treasury plan signaling that the second half of TARP and TALF to be used to mitigate foreclosures through a government guarantee, drive down interest rates by buying another $200-300 billion of mortgage paper from the GSES’s thereby freeing them up to do the same with new mortgages.

5.    Fannie has just agreed to lift the cap of 4 investment properties eligible for loans and raise it to 10.

GOTTA LOVE SANTA MONICA - JOAN BAEZ PLAYS THE HIPPODROME

GOTTA LOVE SANTA MONICA - JOAN BAEZ PLAYS THE HIPPODROME

by Jodi Summers

…And yet another uniquely interesting Wednesday evening tooling around Santa Monica. We did the usual political troll, avoiding the evening’s light rail line design debate, instead opting to stroll to the Business and Consumer Expo over at the Sheraton Delfina. The City of Santa Monica does have an incredible array of programs the City has integrated into its budget.

As one event is not enough, we then walked over to the Looff Hippodrome on the Santa Monica Pier (http://www.santamonicalandmarks.com/landmk33.html)  for the release party for a book commemorating the 100th anniversary of the Santa Monica Pier (September 9th. If we had more information about the book, we’d be happily to pass it on.) Normal enough.

 The usual political speak is going on, and people are munching away on flautas and brownies, when the stories start about the people who lived on the pier.

As local legend has it, Joan Baez once lived over the carousel in the hippodrome, and low and behold, there she was, back at her old stomping grounds sharing how she and her friends, more often than not, would sleep in bean bag chairs.  

Then, she, her son and a mandolin player played a Spanish tune and an old favorite at the carousel for a hundred or so people.

Anyone know how many people she played in front of at Woodstock?

Joan Baez performs at UCLA’s Royce Hall this evening.

THE SENIOR HOUSING MARKET IS CHANGING

THE SENIOR HOUSING MARKET IS CHANGING

By Jodi Summers

The first of the Baby Boomers will soon be entering the senior housing market, and that is impacting the single and multifamily housing market.

The National Association of Home Builders and MetLife Mature Market Institute recently examined the 55-plus population and its preferences in homes and communities. Dubbed “Housing for the 55+ Market: Trends and Insights on Boomers and Beyond,” the report is based on data from the most recent American Housing Survey from the US Census Bureau and focused on trends that emerged between 2001 and 2007.

Some interesting conclusions, the age 55-plus population in the country has risen from 52.2 million–about 21% of the population–in 1990 to 59.3 million–again about 21%–in 2000 to 70.6 million, comprising 23% of the overall population, in 2007. By 2010, this group will grow to 76.6 million, or a quarter of the population, and to 85.3 million–26%–in 2014.

Most older households don’t currently live in age-restricted or–qualified housing, but that number is rising. In 2001, 2% of them lived in active adult age-restricted communities; in 2007, 3% did. What’s more, residents in this type of community had the highest satisfaction rates, although most 55-plus respondents related they were happy with their current homes.

Regarding property, design and looks were most important factors to older buyers of single-family homes. In age-restricted 55-plus rental or multifamily properties, proximity to family and friends topped residents’ priority lists.

Distance from work location was the driver behind choosing a community for 17% of older buyers of single-family detached homes in 2007, up from 11% in 2001 to 17% in 2007.

The buyers of units in active-adult communities are getting younger–no older than 60–and in multifamily and rental units, many of the heads of households are females. The share of college-educated buyers in age-restricted homes has also taken a leap, from 50% in 2001 to 72% in 2007.

“NAHB has tracked the 55-plus population and its share of the housing market for decades,” concludes David Crowe, NAHB’s chief economist. “But this new data gives us our first look at specific consumer behaviors and preferences–what they look for in a home, the reasons why they move, and the characteristics of the communities they choose–over an extended period of time. By examining emerging trends, we have a clearer picture of what the mature market wants in homes and communities, which gives builders the tools to build housing that will meet those needs.”

http://www.metlife.com/assets/cao/mmi/publications/studies/housing-for-the-55-plus-market.pdf

http://www.globest.com/news/1406_1406/insider/178616-1.html

http://www.docuticker.com/?p=25847

http://www.marketwatch.com/story/when-baby-boomers-move-family-often-is-reason

SEARCHING FOR HISTORIC PHOTOS - SOUTH OF THE MARION DAVIES ESTATE

SEARCHING FOR HISTORIC PHOTOS -  SOUTH OF THE MARION DAVIES ESTATE

by Jodi Summers

We recently listed a historic property – the Baruch-Rydgren House

 www.Baruch-RydgrenHouse.jodisummers.com in Santa Monica @ 2323 5^th St. in Ocean Park.

This significant Colonial Revival style beach house was originally located Gold Coast section of Santa Monica beach, north of the Pier at 562 Ocean Front, just south of the Marion Davies Estate  (adjacent to what is now 602 Palisades Beach Road.)  It was moved to its current location in December 1936 by Karl and Alice Rydgren. Legend has it this is the only home to ever be pulled up the California Incline.

You can’t really I.D. the property in this photo from the city archives.

Does anyone have a beach photo of the Marion Davies estate from construction – 1936 that might show the Baruch Rydgren House?

If you are interested in touring or purchasing this historic property, we will be open on Sunday, February 15^th from 1-4 p.m.

 www.Baruch-RydgrenHouse.jodisummers.com

CHICAGO NEWSPAPER MOGUL PREDICTS SPRING 2009 RECOVERY

CHICAGO NEWSPAPER MOGUL PREDICTS SPRING 2009 RECOVERY

by Jodi Summers

Financial mogul Sam Zell, owner of the Tribune Co., recently told an Israeli business conference that the U.S. real estate market will be in recovery by spring 2009.

Zell blamed the current crisis – at least in part – on ill-considered decisions. Optimistically he shared the fact that the U.S. population is growing and with fewer than 600,000  building starts in 2008, a million fewer than any of the last 10 years, demand for housing will rise.

“We are living through our first Blackberry recession where, literally, information is instantly disseminated around the world and people, in effect, respond to it, perhaps, often without any particular caution or attention,” he said.

Immediate communication gives new meanings to the terms buy and sell.

FYI…Zell’s Tribune Co., declared Chapter 11 bankruptcy last week.

Source: http://www.realtor.org/rmodaily.nsf/pages/News2008121505

TEACH @ THE LANDMARK ANNENBERG BEACH HOUSE

Thanks to a generous grant from the Annenberg Foundation, this historic site has been renovated as a multi-faceted public beach club, opening in late-April, 2009.

Once the site of a grand 110-room mansion designed by Julia Morgan for William Randolph Hearst and his companion, actress Marion Davies, the property was a “hot spot” on Santa Monica’s Gold Coast, where Hollywood celebrities came to enjoy the sun, the sea and fabulous parties at the Davies estate. Davies, a movie star, was a pre-eminent Hollywood hostess; she and Hearst reigned as virtual royalty, hosting film luminaries and heads of state.

The original mansion was torn down in 1956, but a guest house and the splendidly tiled swimming pool remain. Those historic assets have been restored and enhanced with new facilities for public recreation. The re-opening of 415 PCH is a highly anticipated event, and is expected to generate considerable interest from both residents and visitors.

The Santa Monica Conservancy is excited to be part of this new venture, and invite you to join us as a docent volunteer. Docent training classes will be offered on four Saturday afternoons, from 1:30 - 4:30, March 7 - March 28, at the Ken Edwards Center, 1527 4th St. Topics will include Santa Monica history; the architecture and history of the site (past and present); Hollywood culture; and the beach’s natural environment. Early April is designated for practice tours. Written material will also be provided to supplement the class lectures. What an opportunity to learn about Santa Monica, Hollywood film history, and to meet many interesting people!

While an outline of key talking points will be provided, there will not be a docent script to memorize. Instead, each volunteer will put together his/her own narration, based upon the training classes, written material, and practice tours. Docents will be asked to commit eight hours a month for the spring and summer of 2009, when visitor interest is expected to be highest. One-hour tours will be offered both on weekends and weekdays. In the fall and winter, the tour schedule will be reduced; and the subsequent schedule will be responsive to demand.

If you are interested in volunteering as a docent, please visit our website or download this form

The deadline for filing your application is February 23, but please don’t wait until the last minute.

Can’t volunteer but want to support this program? Please make a tax-deductible donation online

Questions? Please reply to this email or click here for information on contacting the Santa Monica Conservancy. Our postal address is
PO Box 653
Santa Monica, California 90406-0653
United States

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Info courtesy of the Santa Monica Conservancy [info@smconservancy.org]

Great Annenberg Community Beach House photostream @ http://flickr.com/photos/acbh/

More on the Marion Davies Estate @ http://www.santamonicalandmarks.com/landmk12.html

DIDJA KNOW…THE LIFESPAN OF CARPET

DIDJA KNOW…THE LIFESPAN OF CARPET

The “lifespan” of carpet is a function of the quality of the carpet and the intensity of use and many other factors such as sunlight. Columnist Robert Griswold notes, ”So while each carpet must be evaluated individually, I think it is safe to say that the usual range of years for the average life of an apartment-grade carpet is 5-10 years.”