Santa Monica Architectural preferences have gradually changed over the years, Mediterranean and Spanish homes no longer have the highest demand. These days, everyone seems to be asking for the Cape Cod/ East Coast Traditional style home, especially North of Montana, Brentwood and Palisades. Venice and East of the 405 freeway, modern homes are more popular but here in Santa Monica, modern is 2nd to traditional.
It could be that the spec home builders are just playing it safe and not wanting to go too far outside the box or maybe it has to do with Hollywood. Traditional homes are always the setting for the feel-good, family movies, linking the style to the all American dream. The popular common wood work, open floor plans and vast kitchens mostly done in all white are uniquely American. Currently these homes are selling at asking or over and the demand does not seem to be dissipating. A few years ago everyone thought that homes would be going more “green,” but surprisingly the demand has not shifted in that direction. People do want smart, high tech feature filled homes. The “green” choices of luxury seem to be limited and are often not included in the luxury amenities that today’s Buyers want.
Which architectural style would you like to see more of?
Did you know that there is a measure on the November ballot that if passed will raise the taxes on the sale of your home by 200%?
Yep. Measure H would take a $3 transfer tax up to $9! Currently on real estate sales the City of Santa Monica charges sellers $3 and the County of LA takes $1.10 for a total of $4.10 for every $1,000 of the sale price. With two-thirds of the voters in SM being renters, this vote could be a landslide and sellers closing sales in a few short months will be faced with an increase of $6 per $1,000. And that’s not the worst of it – the proceeds will be used to develop more high density, low income housing.
Here is your real-time real estate market info:
There are 2 new listings that hit the market this week, bringing the total to 16 active listings north of Montana. The number of homes with sales pending remains at 9. Total closed sales for the year is 50 – unchanged from last week.
New Listings this Week
1602 Georgina Avenue – 5 bedrooms + 5 baths. $5,275,000. Re-listed after not selling earlier this year. 13,000 square foot lot. Historical (on the City of Santa Monica’s list) John Byers Spanish Revival home. Lots of charm and character and updated with today’s amenities. Cook’s kitchen, large living room, master suite with spa tub and steam shower, two large outdoor areas, and more. Last sold in March 2005 for $4,200,040.
340 11th Street – 4 bedrooms + 4 baths. $3,695,000. Beautiful Spanish designed by Jay Charles. Features formal entry way, step down formal dining and den, cook’s kitchen with top-of-the-line appliances, entertainer’s backyard, etc.
No New Sales this Week
No New Closed Deals this Week
Pence Hathorn Silver Active Properties:
502 16th St. – 5 bedrooms + 7.5 baths – $8,495,000
303 9th St. – 5 bedrooms + 6.5 baths – $4,999,000
100 Esparta Way – 4 bedrooms + 2.75 baths – $2,999,000
12727 Sunset Blvd. – 4 bedrooms + 4.5 baths – $2,345,000
1544 12th St. #104 – 1 bedrooms + 1.5 baths – $1,195,000
3166 S. Sepulveda Blvd. #33– 1 bedroom + 1 bath – $339,000
Search for more homes, see real time analytics and learn about the North Santa Monica / North of Montana Ave. community on our North of Montana blog. Add your comments (scroll down to the “Add Your Comment” section) and read other blogs. And please call my mobile phone (310) 924-4014 with any questions.