Santa Monica Property Blog

10 AFFORDABLE REMODELING PROJECTS

IDEAS TO SPRUCE UP A PROPERTY AND ALLOW FOR A QUICK SALE

Edited by Jodi Summers

Judicious home remodeling is still worth the investment, according to Remodeling magazine’s annual “Cost vs. Value Report.” They suggest these 10 big-impacts, low-cost remodeling projects -

1. Tidy up kitchen cabinets.

Advice: Add rollout organizing trays so when buyers peek in, they feel like there’s lots of room for their stuff.

2. Add or replace tile.

Advice: By retiling very inexpensively, you make a room look way cleaner that it was. Go to a discount tile store, buy $1 to $2 tiles and replace a dated backsplash or upgrade bathrooms.

3. Add a breakfast bar.

Advice: When a wall separates a kitchen from a family room, cut out an opening to create a breakfast bar.

4. Install granite tile instead of a slab.

Home owners can put in 12-inch granite tiles for about $300 in materials and get very high impact for little money.

5. Freshen up a bathroom without retiling.

Put in a new medicine cabinet for $100 to $150, light fixtures for about $100, a faucet for $50 to $75, and a vanity for $200 to $300. Put in a glass shower door. A French door adds a lot of panache and elegance for $250, and people will notice the door.

6. Freshen up the basement.

If home owners have cement block or poured concrete walls in the basement, suggest they have a contractor fill in cracks with hydraulic cement and then paint with waterproofing paint.

7. Add a room.

Look for large spaces that can be enclosed to create a new bedroom for just the price of creating a wall.

8. Spruce up cabinet fronts.

Update tired kitchen cabinets. Reconditioning is the least expensive move for under $1,000. Take out the nicks and scratches, recondition it with oil, and put new hardware on.

9. Replace light fixtures.

Replace overhead light fixtures in a foyer and in bathrooms and kitchens - this provides a lot of pop for a little money.

10. Tech-up the garage.

Replace the garage door opener with a remote touchpad entry system. The cost is about $425, but looks like a high-end system.

**

http://www.realtor.org/rmohome_and_design/Articles/1001_costvsvalue_2009

http://img.alibaba.com/photo/208919614/Integrated_kitchen_cabinet_KC_030.jpg

http://freshome.com/2008/03/19/bathroom-vanities/

http://www.strawsticksandbricks.com/images/categories/multi%20pic.jpg

http://www.homesecurityinformation.com/ideas/wp-content/uploads/2009/03/garage-door-keypad-lock.jpg

FYI – NEW MULTIFAMILY LEGISLATION FROM SACRAMENTO

FYI – NEW MULTIFAMILY LEGISLATION FROM SACRAMENTO

By Jodi Summers

Legislators in Sacramento were more interested in finding was of shrinking the new $7.4 billion deficit for the 2010-11 budget than they were in thinking about the hit that apartment building owners have taken in the multiunit marketplace this downturn.

Fortunately, the more ominous legislation affecting multiunit properties has been shelved until next year, but, as a local multiunit property owner, we know you want to know what has passed and what is on the horizon.

Passed

* Assembly Bill 1020 (Emmerson, R-Redlands): Limits fees that may be imposed by local and state government and preempts local health departments from adopting any new or additional safety standards on top of federal guidelines regarding public swimming pools. Brings state regulations in line with federal law regarding anti-entrapment devices in pools.

* Senate Bill 120 (Lowenthal, D-Long Beach): Allows a tenant or occupant who has paid utilities in place of a landlord in order to prevent him or her from being shut off to deduct that amount from rental payments.

* Senate Bill 290 (Leno, D-San Francisco): Extends a Jan. 1, 2010, sunset period for a 60-day termination notice requirement for tenants who live in a property for longer than one year.

Be Aware of

* Assembly Bill 473, from Assemblymen Bob Blumenfield, D-Van Nuys, will require owners of properties with five or more units to arrange for mandatory recycling services.

* Assembly Bill 479, introduced by Assemblyman Wayne Chesbro, D-Arcata, will require local governments in large counties to adopt mandatory recycling laws for commercial properties.

**

http://www.carealestatejournal.com/newswire/index.cfm?sid=&tkn=&eid=905490&evid

http://www.consrv.ca.gov/smgb/PublishingImages/CaliforniaStateCapitol02.jpg

http://www.blogcdn.com/www.autoblog.com/media/2006/12/the-governator—64_1280.jpg

http://www.greentechforum.net/wp-content/uploads/2007/06/california_state_flag.png

http://www.limitstogrowth.org/WEB-Graphics/CaliforniaPostcardGreetings.jpg

http://forcechange.com/wordpress/wp-content/uploads/2008/03/cfl-float.jpg

More than $1Trillion Invested In Green Development

More than $1Trillion Invested In Green Development

By Jodi Summers

Did you know that Toyota, Boeing and Samsung have each invested more than $4 billion in green technology? They’re part of a growing trend. Experts say that more than $1.248 trillion has been invested in green projects since 2007. Tallies are now available from the Global Climate Prosperity Scoreboard, which tracks private investment in companies growing the green economy globally.

This newly calculated number shows $1,248,740,645,993.00 in total investment in solar, wind, geothermal, ocean/hydro, energy efficiency and storage, and agriculture  since 2007. The details indicate how investors and entrepreneurs are leading governments in promoting sustainable growth.

The scoreboard, posted by Ethical Markets Media and The Climate Prosperity Alliance

indicates which investments have been publicly announced and committed by major companies for 2010 and beyond. For example, the Egyptian company Desertec, is behind a 400 billion Euro plan to power Europe with sunlight from North Africa and the Middle East. If their project goes as planned, Desertec could supply 15 percent of Europe’s power needs by 2050.

“Private capital investment is now leading globally in promoting technological innovation and resource efficiency that will accelerate environmentally and socially sustainable industrial growth and economic development throughout the world,” noted Dr. Marc A. Weiss, Chairman and CEO of Global Urban Development and Chair of the Climate Prosperity Alliance.

The Climate Prosperity Alliance uses the Climate Solutions 2 computer model of Australia’s Climate Risk Party, concludes that if $1 trillion is invested every year for the next 10 years can assure the global transition to sustainable prosperity and job growth.

Check out the Global Climate Prosperity Scoreboard @ http://www.ethicalmarkets.com/wp-content/uploads/Global-Climate-Prosperity-Scoreboard.pdf

**

http://greeneconomypost.com/over-1-trillion-invested-in-green-since-2007-6922.htm?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+TheGreenEconomyPost+%28The+Green+Economy+Post%29#ixzz0ZcXw0j5h

http://greeneconomypost.com/over-1-trillion-invested-in-green-since-2007-6922.htm?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+TheGreenEconomyPost+%28The+Green+Economy+Post%

http://af.reuters.com/article/investingNews/idAFJOE5B10JG20091202?pageNumber=1&virtualBrandChannel=0&sp=true

http://www.ethicalmarkets.com/wp-content/uploads/Global-Climate-Prosperity-Scoreboard.pdf

http://4.bp.blogspot.com/_naalMdATcl8/SkfBq4wjMkI/AAAAAAAAAIs/3orGtK1ww14/s400/booker-28060_1_1432371c.jpg

http://ec.europa.eu/cyprus/images/drought.jpg

http://www.sodahead.com/living/this-is-what-a-trillion-dollars/question-288213/?link=ibaf

http://lbslibrary.typepad.com/.a/6a00e008d6ce2788340120a5293a61970b-800wi

http://www.theodoresworld.net/pics/0309/climateplanImage4.jpg

REGISTER YOUR CELL PHONE ON THE DO NOT CALL LIST

REGISTER YOUR CELL PHONE ON THE DO NOT CALL LIST

By Jodi Summers

Cell Phone Numbers Go Public this month….meaning cell phone numbers are being released to telemarketing companies and you will start to receive annoying sales calls on your cell phone…and YOU WILL BE CHARGED FOR THESE CALLS.

To prevent this, call the National DO NOT CALL list number from you cell phone. That number is - 888-382-1222.

Registering will block your number for five (5) years.

FYI - You must call from the cell phone number you want to have blocked. You cannot call from a different phone number.

SANTA MONICA PROPERTY SNAPSHOT – JANUARY 2010

SANTA MONICA PROPERTY SNAPSHOT – JANUARY 2010

By Jodi Summers

Those in the know seem to feel that what the government is doing is working. Aided by the recent extension of the home buyer tax credit, the outlook for housing industry for 2010 appears headed for a sustainable recovery, proclaims Lawrence Yun, NAR chief economist of the National Association of Realtors.

“Given the success of the first-time buyer tax credit to date and the need for qualified buyers to continue to absorb inventory that will include additional foreclosures over the coming year, we are hopeful about the impact of the expanded tax credit because it will stabilize home prices,” he said. “In fact, the credit is working better than first projected - it now looks like we’ll have 2.3 to 2.4 million first-time buyers this year.”

Locally, in the Santa Monica single family market from December 2007-December 2009 there was an 18% drop in volume from 22 to 18 homes.

The median price of for sale properties is down 9% and the median price of sold properties is down 36%.

The condo market the median sold price is down 22%, while the number of sold properties is up 72%

In 2009 first-time buyers accounted for a record 47% share of home sales over the past year, up from 41% in 2008 concluded the most recent National Association of Realtors Profile of Home Buyers and Sellers.

Existing-home sales are expected to total 5.01 million for 2009, a gain of 2% over 2008, and this year sales are forecast to rise 13.6% to 5.69 million in 2010. “A steady draw down of inventory will help home values to turn positive in 2010, but risks such as unemployment remain in the economy,” Yun concluded.

**

http://saratogavoice.com/wordpress/2009/10/20/california-real-estate-forecast-for-2010/

http://nyrej.com/37067

http://www.realtor.org/research/economists_outlook/commentaries/forecast1209