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Pst! Hey You – Wanna Buy a Bike?

Posted by John Hathorn on November 21, 2014
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What would you pay for a new bicycle? $500? $1,500? $5,000?

North of Montana Santa Monica 229 19th Street

Keep in mind your new bike would have some sort of cool GPS and other technology. It would be comfortable and dependable and exactly match at least 500 other bikes in the City. Well, cough up $11,200 per bike like Santa Monica agreed to do this week and you can be part of the new bike share system.

I know, I know, there will be some infrastructure and admin needed to make the bike sharing system work but $5.6 million for 500 bikes seems crazy doesn’t it? You could give away 5,000 bikes at a cost of $1,120 each and probably get a better result. Or, at $500 per bike, scatter 10,000 of them around Santa Monica.

What do you think? Innovative thinking, or careless spending?

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Here is your real-time real estate market info:

What time is it?

Based on the level of new listings this week, it sure doesn’t seem like the week before Thanksgiving.

There were 6 new listings in the north of Montana flats this week. Weird. Last year at this time there was only 1 new listing with a list price of $ 6,500,000. This year there are 21 available right now with an average list price of $ 5,969,283.

Is this a portend of things to come? Is this proof positive that we are finally returning to a Buyer’s Market?  It is too difficult to predict and for now we know that until rates go up, demand will remain high.

If you or anyone you know has had any thoughts of selling, please call me!

There are 6 pending sales in escrow and YTD there have been 61 closed – up 3 from 58 last week.

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 New Listings this Week

438 Palisades Avenue –   6 bedrooms + 5 baths.  $6,995,000. Main house gutted for a remodel and expansion. Plans and permits in final stages of approval. Almost 17,500 square feet of land. Sold in December 2011 for $4,050,040 so when this sells for full price it will be a 70% profit in 3 years.

345 21st Street –   6 bedrooms + 8 baths.  $6,500,000. Listed by Pence Hathorn Silver. Over 7,400 square feet exquisite Italian Villa. Limestone and pecan floors. Finished basement. Ideal floor plan with 4 bedrooms up and 2 bedrooms in basement. Luxury hotel style backyard with beautiful saline pool, BBQ are. Too many features to list! Sold in September 2012 for $5,120,000.

229 19th Street –   5 bedrooms + 7 baths.  $5,999,000. Listed by Pence Hathorn Silver. New construction Classic Hampton home! Elegance and comfort. Over 5,000 square feet of interior space on a large 8,931 square feet lot.  Great location in prime Gillette Regent Square. Ideal open floor plan. Spectacular backyard with pool and wired for an outdoor theater. Top quality materials and impeccable craftsmanship throughout.

417 Euclid Street –   5 bedrooms + 8 baths.  $5,995,000. Over 6,600 square feet of interior space. Main level with spacious office, large dining room. 4 en-suite bedrooms up and 1 en-suite bedroom down. Features wine cellar, media room, gym, game room, etc. Sold in March 2012 for $1,725,000.

636 Adelaide Drive –   4 bedrooms + 5 baths.  $4,595,000. Charming Colonial Traditional. Features Chef’s kitchen, large dining that opens to back patio, office/ library, separate guest house with fireplace, pool, outdoor patio. Just a short distance to the beach. Sold in August 2011 for $2,850,028.

557 11th Street –   3 bedrooms + 3 baths.  $2,995,000. Beautiful 1920’s Spanish with lots of natural light. Features indoor and outdoor flow with center courtyard, arched ceilings in living and dining room, large master with massive en-suite bathroom. Lush backyard. Sold in June 1993 for $610,000.

No New Sales this Week

New Closed Deals this Week

440 15th St. – 5 bedrooms + 7 baths – $5,000,000. Listed by Pence Hathorn Silver.

721 23rd St. – 5 bedrooms + 6 baths – $4,400,000. Listed by Pence Hathorn Silver.

410 Lincoln – 3 bedrooms + 2 baths – $2,700,000

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Pence Hathorn Silver Active Properties:

345 21st St. – 6 bedrooms + 8 baths – $6,500,000

229 19th St. – 5 bedrooms + 7 baths – $5,999,000

303 9th St. – 5 bedrooms + 6.5 baths – $4,999,000

100 Esparta Way – 4 bedrooms + 2.75 baths – $2,999,000

1544 12th St. #104 – 1 bedrooms + 1.5 baths – $1,195,000

3166 S. Sepulveda Blvd. #33– 1 bedroom + 1 bath – $329,000

Search for more homes, see real time analytics and learn about the North Santa Monica / North of Montana Avenue 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.

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