If you, like me, are an employer there are several new local and state laws you may want to pay attention to that went into effect on January 1, 2018.
Statewide the minimum wage will increase from $10.50 to $11.00 per hour. Santa Monica businesses with 26 employees or more will be required to pay $13.25 per hour as of July 1, 2018. Smaller businesses have an extra year to comply with these rates.
A standard practice in hiring is asking what a hopeful applicant earned at their previous job, this is now illegal, of course the interviewee can volunteer the information but no longer is it allowed to be asked. Employers are required to give a range of what the job position is offering.
In addition, employers may not ask about criminal history until an offer is presented. At that time they are allowed to follow-up with a background check. If a conviction record is found the company may withdraw their offer but the applicant has the opportunity to defend themselves rather than be overlooked by checking the box with the initial application.
How are you feeling? The City of Santa Monica will require employers with 25 employees or less to pay 40 hours of sick leave and employers with 26 or more employees will pay up to 72 hours. The accrual rate is 1 hour for every 30 hours worked, even if you only work one day per week. This is not paid out at the end of the year and sick days may not kick in for the first 90 days of employment.
What to expect when you are expecting? The New Parent Leave Act, allows Parents to take up to 12 weeks of unpaid time off to bond with their child within the first year.
In real estate news, there has been 1 new listing since the start of 2018:
631 15th Street – It wasn’t selling at $6.9M then $6.5M as a done house that the owners wanted you to pay them to build, so now it’s being marketed as a teardown property for $3.5M with plans and permits included. Approximately 7,500 square foot lot. Last sold back in 1989.
One property went into escrow before the end of 2017:
534 21St Street – Listed for $3.7M and sold within a 2 weeks, 1930’s one story Spanish home with lots of original character, 3 bedrooms and 2.75 baths, approximately 2,058 square feet. Last sold December 8, 2005 for $2,477,500.
Two properties have gone into escrow since the start of 2018:
711 12th Street – Mediterranean home built in 1989. Not updated. 5 bedrooms and 4.5 baths, approximately 4,106 square feet. Nice backyard with hardscape area, grassy lawn and detached garage with a basement. Listed for $3,799,000. Last sold November 14, 1990 for $1,350,000.
235 19th Street – This is rumored to be in escrow for over $8M which makes more sense than the original $9M asking price. Newly constructed 6 bedrooms and 8.5 bathrooms over 8,000 square feet. Full basement with wine cellar and movie theatre. Backyard with swimming pool and spa. Last sold June 1, 2012 for $3,200,000. If this home sells for anywhere near its $9M price tag it will be a new record for spec homes on 60’ wide lots.
Eight closed MLS sales to report:
238 19th Street – 5 bedrooms and 6.5 bathrooms. Sold for $6,200,000. Listed and sold by Pence Hathorn Silver.
100 Larkin Place – 4 bedrooms and 4.5 bathrooms. Sold for $5,460,000- nearly a MILLION over the listing price. Listed by Pence Hathorn Silver.
422 25th Street – 3 bedrooms and 2 bathrooms. Sold for $4,000,000.
475 20th Street – 5 bedrooms and 5.5 bathrooms. Sold for 4,688,299.
621 21st Place – 4 bedrooms and 4.5 bathrooms. Sold for $4,115,000 by Pence Hathorn Silver.
343 15th Street – 3 bedrooms and 2 bathrooms. Sold for $3,486,000.
710 18th Street – 3 bedrooms and 2 bathrooms. Sold for $3,169,000.
1609 Georgina Ave – 4 bedrooms and 5 bathrooms. Sold for $5,000,000.
Here is some Montana Avenue DIRT.
- 909 Montana Avenue has been leased to a pop-up scooter shop; they plan on being at the location until February 2018.
- One of our favorite shops The Brentwood General Store, previously located at 1413 Montana, is moving into the old Lucy Athletic Apparel location at 1230 Montana! Less than two blocks west of their old digs. Expect a grand re-opening mid-February!
- Curated LA, the jewelry boutique is now open at 1603 Montana.
Call me for a couple of upcoming attractions – including one on La Mesa, that are not yet listed in the MLS, priced from $1.9 million to $16 million.