The “mansion tax” was passed both in Santa Monica and Los Angeles yet most agree it is a wealth tax. The National Association of Realtors (NAR) has recently predicted that there will be a decline in home sales over the next few years. A proposed mixed-use development project at 2668 2nd Street has been met with significant opposition from residents who are concerned about the impact on traffic and parking in the area. Continue Reading Transfer Tax Dirt: How Will This Impact the Santa Monica Housing Market?
The state of California has closed a loophole that allowed developers to build without approval from the city. Continue Reading A Development Boom in the Cards for Santa Monica?
A few random musings from the lingering summer days…a trip to Italy, Oktoberfest in Munich, and a little bit about real estate here in Santa Monica. Continue Reading Miscellaneous End of Summer Musings
Elections are right around the corner and it’s going to be more pins and needles, no matter your political ideology. A lot of proposed changes will be on the ballot or coming down the pipeline impacting Santa Monica real estate. We all share a love and passion for Santa Monica so let’s pay close attention to details and help realize our city’s full potential! … Continue Reading Civic Engagement 2022
If you haven’t heard, 1221 Ocean Avenue (a 120-unit apartment building located just South of Wilshire Boulevard in Santa Monica) has been sold to the Douglas Emmet real estate trust for a whopping $330 million according to The Real Deal.com. Not only is this an impressive purchase, it also means the previous owner of the property, The Irvine Company, no longer has any residential… Continue Reading The Dirt on 1221 Ocean Avenue
By Esther Hickman Did you know that Santa Monica multi-units have the lowest average cap rates in all of Los Angeles County? There are a lot of factors playing into this, but one thing is for sure, multi-unit transactions have remained strong and steady. How is that possible? Here’s one fun example: Our listing, 717 9th Street, North of Montana Avenue: Four Mid-Century Modern… Continue Reading Santa Monica Investment Property Musings
Mother’s Day and the brunching go hand-in-hand. And since your mom probably isn’t into Denny’s Lumberjack Slam, here are a few suggestions for a more impressive brunch in Santa Monica. Whether you are headed to Montana Avenue, Ocean Avenue, Ocean Park, you can’t really go wrong with lots of mimosas so, you’re welcome. And to all mothers, grandmas, stepmoms, foster moms and aunties, too,… Continue Reading Mother’s Day Recommendations in Santa Monica
With Westside real estate prices at all-time highs, people have once again been asking me “who are the people buying all these expensive properties?” I answered that question back in May of 2019 and here is my update for 2022. Buyers of some of our recent transactions include: A financial services executive who closed last week on an Ocean Avenue, North of Montana, penthouse condo that… Continue Reading The Dirt on Who Is Buying: The New Neighbors of the Westside