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News, Real Estate, Santa Monica

10 Things To Consider Before Buying A Home

Posted Apr. 2, 2014, 9:05 am

Many buyers are not succeeding in this difficult “seller’s market” because of inadequate preparation and readiness. Others do not succeed due to “analysis-paralysis,” or trying to analyze and rationalize too much.

Ocean Towers is a 317-unit luxury apartment building high-rise located at 201 Ocean Avenue in Santa Monica.

News, Real Estate, Santa Monica, Courts

Ocean Towers Lawsuit Permitted To Go Forward

Posted Mar. 31, 2014, 9:11 am

The owner of several units in the Ocean Towers residential complex near Palisades Park was given the green light to continue with his lawsuit against a real estate investment firm, a California appeals court ruled earlier this month.

News, Real Estate, Santa Monica

Santa Monica Apartment Complex On 20th Street Sold For $6 Million

Posted Feb. 27, 2014, 8:05 am

A 20-unit multifamily property located at 1027-1033 20th Street in Santa Monica has sold for $6 million.

News, Real Estate, Santa Monica

Santa Monica Housing Market: Looking Back - And Forward

Posted Jan. 23, 2014, 8:28 am

As we began 2014, the number of homes available for sale in Santa Monica was as low as it has been in many years. There are only 33 homes on the market, which is a lower level of supply than as at the beginning of 2013.

Lincoln Property Company and Centennial Real Estate have partnered to acquire this five-story mixed-use building on Third Street Promenade in Santa Monica for $20.5 million.

News, Real Estate, Business, Santa Monica

Five-Story Building On Third Street Promenade Acquired For $20.5 Million

Posted Jan. 15, 2014, 8:05 am

The five-story building on the Third Street Promenade that leases to Subway and McDonald's has been acquired for $20.5 million, after Lincoln Property Company partnered with Centennial Real Estate for the deal.

There are a number of reasons and advantages to putting it on the market during the end of year/winter season.

News, Real Estate, Santa Monica

Selling & Buying A Home During The Holidays

Posted Dec. 19, 2013, 8:22 am

Is it a correct observation or a misconception that it is a disadvantage to list your home for sale during the holiday period?

Avison Young has completed a 16,220-square-foot office lease with Science, Inc. in Santa Monica.

News, Real Estate, Business, Santa Monica

Technology Incubator Science, Inc. Signs 45-Month Lease In Santa Monica

Posted Nov. 20, 2013, 9:20 am

Commercial real estate services firm Avison Young has completed a 45-month office lease with Science, Inc., a technology incubator and investor.

News, Real Estate, Santa Monica

22-Unit Multifamily Property In Santa Monica Sold At Cap Rate Of 3.1 Percent

Posted Nov. 10, 2013, 9:51 am

Charles Dunn Company has completed the sale of a fully occupied, 22-unit multifamily property located at 316 San Vicente Boulevard in Santa Monica. The property was sold at a cap rate of 3.1 percent, which is the lowest cap rate for a multifamily property sold in 2013 in Santa Monica, according to Costar records.

Lee and Associates Negotiates $7.9 Million Santa Monica Creative Office Sale.

News, Real Estate, Business, Santa Monica

Lee & Associates Negotiates $7.9 Million Santa Monica Creative Office Sale

Posted Oct. 27, 2013, 9:17 am

Brokerage firm Lee & Associates has closed a $7.9 million office sale in Santa Monica. The current home of Riot Creative Imaging, the 18,000-square-foot building is located at 1740 Stanford St., near the former industrial area of eastern Santa Monica.

Cross Campus will occupy 13,337 square feet (sf) at 1558 10th Street in Santa Monica after signing a seven-year lease.

News, Real Estate, Santa Monica

Cross Campus To Relocate To 1558 10th Street In Santa Monica In Early 2014

Posted Oct. 12, 2013, 9:33 am

Cross Campus, a Santa Monica-based business that provides co-working space for entrepreneurs, creative, and mobile professionals, has signed a seven-year-office lease at 1558 10th Street in Santa Monica.

News, Real Estate, Third Street Promenade, Santa Monica

It’Sugar Signs $6.2 Million Lease On Third Street Promenade

Posted Sep. 22, 2013, 9:21 am

Commercial real estate services firm Avison Young this week completed an eight-year retail lease transaction in Santa Monica with global candy and gift retailer It’Sugar. The retailer is leasing the property at a rate of $312 per square foot – a record-high in the Third Street Promenade.

A new iPhone app and website called RadPad combines the best of Instagram and Craiglist functions to connect landlords and prospective renters across Santa Monica and Los Angeles.

News, Real Estate, Santa Monica, Technology

RadPad: A Mix Of Instagram, Craigslist For Home Hunting In Santa Monica

Posted Jul. 1, 2013, 9:18 am

Desperately searching to find the perfect place to live is a plight all too common for most people. After experiencing this predicament himself, Jonathan Eppers decided to do something about it.

Michael Edlen has helped over 1,000 clients achieve their real estate goals since 1986.

News, Real Estate, Santa Monica

Don’t Limit Your Chances Of Getting Top Dollar For Your Home

Posted Jun. 22, 2013, 9:19 am

The Multiple Listing Service (MLS) concept dates back to the late 1800s. It evolved as a way for agents in different companies to be able to cooperate with each other in getting greater exposure for their listings. The benefits of using an MLS have continued to grow, especially since they went online in the late 1990s.

Pacshore has acquired this Santa Monica office building at 631 Wilshire Boulevard for $20 million.

News, Real Estate, Business, Santa Monica, Wilshire Boulevard

Lionstone Group Sells Building At 631 Wilshire Boulevard For $20 Million

Posted Feb. 8, 2013, 10:48 am

The Lionstone Group has sold its 38,000 square-foot mixed-use building at 631 Wilshire in Santa Monica for $20 million.

Two new adjacent apartment buildings on 5th Street in downtown Santa Monica are now 30 percent leased.

News, Real Estate, Business, Santa Monica

Leasing Hits 30 Percent At Two New Downtown Santa Monica Apartment Buildings

Posted Jan. 31, 2013, 8:45 am

The developer of two adjacent apartment buildings at 1420 and 1430 Fifth Street in downtown Santa Monica announced earlier this week its project is at 30 percent leased.

Late artist Miriam Wosk had remodeled the 1920s Spanish style home in Santa Monica with many artistic and creative elements.

News, Real Estate, Santa Monica

Late Santa Monica Artist Miriam Wosk's Home Hits Market For $12.5 Million

Posted Jan. 21, 2013, 12:35 pm

Just days after late artist Miriam Wosk's art went on display at the Santa Monica Museum of Art as part of the Museum's winter exhibitions, her 1920s Spanish style home at 436 Adelaide Drive in Santa Monica has been listed for $12.5 million. Wosk passed away in 2010.

News, Real Estate, Santa Monica

Home Appraisals Can Cause Sales Problems; A Look At The Santa Monica Market

Posted Dec. 20, 2012, 12:09 am

The local real estate market has been steadily improving since the beginning of 2012. However, it has also been experiencing increasing difficulties with appraisal and financing of the home purchases. Some of these issues are directly related to stringent lender guidelines, and many escrows are challenged by problems because of the appraisal process. The appraisal process is often slower than it used to be, which has delayed escrows beyond the closing date.

The owners of 2009 La Mesa Drive will have to wait at least one more week to find out whether their request for a reduced tax assessment is approved or denied. Earlier this week, the estate hit the market for $22 million.

News, City Council, Real Estate, Santa Monica

Council Delays House Of Rock's Tax Benefit Request; Estate Hits Market For $22M

Posted Nov. 30, 2012, 1:28 am

On the heels of reports that it was listed for sale for $22 million, the estate otherwise known as the “House of Rock” was the subject of yet another debate at the Tuesday Santa Monica City Council meeting. The estate’s owners sought the council’s approval for a reduced tax assessment per the Mills Act.

The 'House of Rock,' a multimillion dollar Santa Monica estate at 2009 La Mesa Drive where musical events have been causing grief for neighbors.

News, City Council, Real Estate, Santa Monica

Santa Monica's Controversial 'House Of Rock' Listed For $22 Million

Posted Nov. 27, 2012, 9:07 am

The Santa Monica estate known as the “House of Rock” has been listed for $22 million, according to the Wall Street Journal. The multimillion-dollar estate at 2009 La Mesa Drive made headlines in October after musical events had been causing grief for neighbors.

News, Real Estate, Santa Monica

Is Your Home Ready For Winter?

Posted Oct. 24, 2012, 2:14 am

As the rainy season is about to begin, it’s a good time to think about home maintenance issues. Since many of the most difficult and costly problems to resolve are water-related, the following actions may result in considerable savings.

The City of Santa Monica has sold its beachfront property at 1920 Ocean Way to the owners of Casa del Mar hotel, which borders the property.

News, Real Estate, Santa Monica

City Of Santa Monica Sells Beachfront Property For $13.15 Million

Posted Sep. 25, 2012, 2:25 am

Seeing an opportunity to bring in a large sum of money to fund future affordable housing projects, the Santa Monica City Council earlier this month approved the sale of a vacant piece of beachfront property for $13.15 million.

Real Estate, Santa Monica, Columnist

Santa Monica Seller Alert: The Market Has Shifted

Posted Sep. 8, 2012, 11:00 pm

For several months, the Westside real estate market has experienced a steady recovery with both average list and sales prices increasing by more than 4 percent. The inventory level of homes available has dropped significantly over the past year, resulting in increasing frustration for buyers who are well qualified but unable to find a suitable home. As a result, there has been a steady building up of pent up demand over the last several months.

Santa Monica Seller’s Market comparing the first six months of 2012 vs the first six months of 2011.

News, Real Estate, Santa Monica

Santa Monica Real Estate Seller's Market: 2012 Vs 2011

Posted Jul. 18, 2012, 2:07 am

As we begin the second half of 2012, there are 68 single-family Santa Monica residences listed in the Multiple Listing Service (M.L.S.). There were 123 Santa Monica homes sold in the first half of 2012 (which is 10 percent higher than this time last year), and there are currently 46 homes in escrow in Santa Monica.

There are many types of situations and challenges that real estate agents must deal with today.

News, Real Estate, Santa Monica, Homes

Real Estate: Definite Signs Of An Improving Market

Posted May. 1, 2012, 12:27 am

Several weeks ago we observed there were some indications that the Santa Monica housing market had begun to turn in favor of sellers. With the bene...

Median sale prices in Santa Monica are currently $1,758,800, which is up 31 percent over the same period last year.

News, Real Estate, Santa Monica

Santa Monica Real Estate Update: Home Sales Vs A Year Ago

Posted Apr. 5, 2012, 1:54 am

As of the end of February 2012, there were 66 single-family Santa Monica residences listed in the Multiple Listing Service (M.L.S.), which is 42 pe...

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