Despite the cold weather lately, the housing market here in Santa Monica is still hot hot hot, especially for sellers. Want proof? Let’s take a look at the current Market Action Index (MAI). The MAI gives us a number for the balance between supply and demand using the current rate of sale versus the current inventory. Santa Monica’s current MAI is hovering around 48.… Continue Reading The Dirt on the Santa Monica Seller’s Market
90402 dirt is the second most expensive in the nation! The Santa Monica zip code has the second highest land value according to this Bloomberg report. You may be surprised to learn that strict building codes actually give developers a greater return due to low supply of land and a high demand for newer homes. So how successful was the market North of Montana… Continue Reading Third Quarter DIRT
The second quarter is not quite over, however, here is my bi-annual North of Montana sales report. Currently, in the MLS, there are 11 active listings available in the North of Montana neighborhood and of these active listings, the average number of days on the market is 43. The average list price is $6.3 Million, the average house is 4,393 square feet and the… Continue Reading 90402 Dirt by the Numbers
In spite of recent events North Santa Monica is still one of the safest places to live on the Westside. If you want more info on crime and safety, this Thursday from 7-9pm, NOMA (North of Montana Neighborhood Association) is hosting a meeting at Franklin School on Montana and 24th Street. North of Montana residents have always been keenly aware of how important neighborhood… Continue Reading Random Crime and Dirt
Teh Following Article is from the Fall 2011 Newsletter There is actually no encompassing cycle, just different cycles for different markets, which is not easily understood in these financial times. It goes back to whether you are looking at the macro view, the world, or the micro view, your own neighborhood. In the Westside markets’ most desirable neighborhoods home prices have been flat for… Continue Reading Where Are We In The Cycle?
The Following Article is from the Sping 2011 Newsletter It is a very complicated, often times confusing answer. It depends on whether you are looking at the macro view, the whole country or an entire state, or whether you are looking at the micro view which looks at individual neighborhoods. It is very confusing because we read in the news statistics about the state… Continue Reading WHAT IS GOING ON IN THE REAL ESTATE MARKET?
The Following Article is from the Winter 2010 Newsletter “When would be a good time to sell my home?” We have gotten many calls over the last few years about “timing the market.” In stock market parlance, it is referred to as “catching the falling knife!” As they say, “Prediction is difficult especially about the future.” The following is an overview perspective of what… Continue Reading TIMING IS EVERYTHING
The Following Article is from the Summer 2007 Newsletter Generally real estate values fluctuate as a whole by city, state or region. That has changed here on the Westside! Values are varying from neighborhood to neighborhood in Los Angeles. Proximity to the ocean, large-scale new construction projects and major traffic congestion are common variables for this change in value. The values on the Westside… Continue Reading THE REAL ESTATE MARKET IS UP AND DOWN …DEPENDING ON WHERE YOU LIVE