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The Overdue Dirt

Posted by John Hathorn on May 8, 2015
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If the construction has been bugging you the way it has me, you’re probably eagerly awaiting the completion of Phase II of the Expo Line. You may even want to ride it once or twice for nothing more than the novelty of doing so. It’s hard to pinpoint the exact day or even month the line will be done and when it is the crosstown automobile traffic is not likely to improve. Right now, they are telling us to look forward to a completion date sometime between April and June of 2016. At that point, you should be able to get from the beach to downtown L.A. in less than 45 minutes. If that does not seem like much of a time savings, factor in traffic and parking and maybe, it might be worth bothering with a ride on the rail line. But wait…you need to get to and from your home to a stop station and for this reason I really can’t imagine the 90402 crowd using the rail much at all.

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Even with stops at Bundy, Sepulveda, Westwood Boulevard, Bergamot Station at 26th Street, Santa Monica College at 17th Street, Colorado, and 4th Street I doubt north siders will be willing to walk or Uber to a stop station. Oh and what fun for the cars trying to get across town north and south. Are you getting excited?!?

Delays are being blamed on the construction of the train maintenance facility. The maintenance building was supposed to be done in May, but now it won’t be finished until October, months after testing for the trains begin. Another reason for the delay is the shortage of Expo Line trains. This issue is temporary and was only caused by a change in suppliers. When Phase II is complete, the Line will run every 12 minutes until more trains become available, then it will run every six minutes.

Do you think the new Expo Line will benefit Santa Monica residents? Will you be more likely to visit Downtown LA with the new line up and running?

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Here is your real-time real estate market info:

The real estate market saw its biggest increase in available inventory all year this week with 4 new listings in the flats of Santa Monica: 305 Alta Avenue, 470 19th Street, 214 18th Street and 235 19th Street. There is one new sale this week- 548 15th Street. Year-to-date closed sales have gone up to 22 with 307 Euclid Street, 311 12th Street, 537 Euclid Street and 1312 San Vicente Boulevard all closing at prices higher than their list prices.

Are owners’ and agents’ pricing too low? Or is the market rising faster than people anticipate? Or is underpricing a selling strategy employed by clever owners and agents? Call me to learn the answer.

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New Listings this Week

305 Alta Avenue –  4 bedrooms + 4 baths.  $8,950,000. Huge 21,444 square feet lot. Home features a guest house with kitchen and bath, Craftsman style dining room, two sun porches, patio with lots of flowers and greenery. Last sold in October 1971 for $90,000 which won’t even cover the property taxes today!

470 19th Street –   5 bedrooms + 5 baths.  $4,795,000. This home has traded several times over the past 10 years. Most recently in 2012 for $3,750,000,. Features a separate guest house, hardwood floors, coved ceiling and an open floor plan, resort-style pool.

214 18th Street –   3 bedrooms + 3 baths.  $3,550,000.   Beautiful Cape Cod, one story with all rooms open to lush landscaped yard. Hardwood floors throughout. Features gourmet kitchen with center island, family room with fireplace, office/library/den. Last sold in April 2006 for $2,950,000.

235 19th Street –   3 bedrooms + 2 baths.  $3,195,000.   Renovate or build new on an 8,900+ square feet lot. House is a 1930’s Spanish with original charm and details, hardwood floors, coved ceilings, archways, private garden. Last sold in November 1992.

New Sales this Week!

548 15th Street –   3 bedrooms + 2 baths.  $3,150,000.   Re-sold after a failed escrow 2 weeks ago. Land value with a detached garage converted to studio. Last sold in 2010 for $2,250,000.

Closed Deals this Week

307 Euclid Street – 5 bedrooms + 5 baths – $4,680,000. Sold over asking!

311 12th Street – 5 bedrooms + 6 baths – $4,570,000. Sold over asking!

537 Euclid Street – 3 bedrooms + 1 bath – $3,000,000. Sold over asking!

1312 San Vicente Boulevard – 4 bedrooms + 4 baths – $3,122,000. Sold over asking!

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Pence Hathorn Silver Active Properties:

Call me for a couple of upcoming attractions, priced from $1.9 million to $6 million – they are not in the MLS.

770 Amalfi Dr. – 6 bedrooms + 6 baths – $6,000,000

238 19th St. – 4 bedrooms + 3.75 baths – $3,649,000

809 Malcolm Ave. – 3 bedrooms + 3.5 baths – $2,900,000

865 S. Shenandoah  – 8 unit building, 1 bedroom + 1 bath units – $2,695,000

30 23rd Ave. – 2 bedrooms + 1.5 baths – $1,995,000

1154 S. Barrington #210  – 1 bedrooms + 1 bath – $495,000

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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