July 2, 2022 Breaking News, Latest News, and Videos

Key Factors In Evaluating Santa Monica Properties:

Home sellers need to determine an asking price, and buyers need to assess how much to offer and ultimately what to pay for their new home. Many of them rely on a professional realtor for the data and analysis to help come to their decision, while others prefer to also do their own research online and rely on sites such as Zillow for guidance.

It may help to understand some of the nuances that an experienced realtor takes into consideration when doing a comprehensive evaluation of a Westside home, either from a seller or potential buyer’s perspective.

Some major factors would be more obvious than others, such as Brentwood Park and North of Montana. For example, certain neighborhoods are generally more desirable than others, such as the Huntington and other quite close to the Village area. Similarly, homes on a heavily trafficked street will logically be less desirable in general than those on quieter locations.

Value is affected by whether a house has a view or not, and how unobstructed and from which rooms the view can be enjoyed. Lots impacted by geological challenges or other environmental issues will be of a lesser value. How much of the property is relatively useful, as compared with hillside locations that may substantially limit the usable yard is another factor.

The legal tract a property is in can make a significant difference in value, depending on restrictions that may exist regarding the height or size of a house. For example, much of Santa Monica and various areas of Brentwood have differing sets of conditions, covenants, and restrictions (CC & R’s). CC & R’s obviously help to preserve property values in some ways, while imposing some limitations that to a degree also may limit a site’s potential value.

Reliance on online evaluations systems may be useful in many other communities where far fewer variations exist between and even within Westside neighborhoods.

As has been noted, Zillow and other similar systems do not take into consideration whether a house is on a 7,800 or 9,600 square foot lot North of Montana. They also have no way to factor in the presence or quality of views that may exist, nor anything about the condition of the home or property. Moreover, those automated systems can vary as much as 10-20 percent from each other on the same property.

Michael Edlen has been ranked in the top 1 percent of all agents in the country with nearly $2 billion in sales and more than 1,200 transactions. If you would like to know what your home may be worth today, Michael can be reached at 310.230.7373 or michael@michaeledlen.com.

in News
Related Posts

John McEnroe and Patty Smyth Sell Malibu Home for $29 Million

July 2, 2022

July 2, 2022

Malibu Colony home sold to unknown buyer in private sale By Dolores Quintana John McEnroe, a retired former tennis star,...

SMa.r.t. Column: A Tale of Two Cities

July 2, 2022

July 2, 2022

The City of Santa Monica is surrounded on three sides by the City of Los Angeles. Therefore, while the jurisdictions...

Santa Monica City Council Approves Ballot Measure That Would Increase Hotel Bed Tax

July 1, 2022

July 1, 2022

Santa Monica’s bed tax has been raised since 2004 By Dolores Quintana In a vote on June 28, the Santa...

PETA Attempts to Stop the Beach Club From Holding Annual Fireworks Display

July 1, 2022

July 1, 2022

Parking lot where display is held is on City of LA land, not Santa Monica, allowing Club to obtain permit...

Santa Monica-Malibu Unified School District Prepares for SMASH/Muir Campus Mold Removal

June 30, 2022

June 30, 2022

Exact costs for repairs still unknown By Dolores Quintana and Sam Catanzaro  It is unknown exactly how much the total...

Watering Restrictions for Santa Monica Residents Take Effect Soon

June 30, 2022

June 30, 2022

New restrictions will go into effect on July 5, limiting watering to twice a week By Sam Catanzaro New restrictions...

Daily Harvest Recalls Meal Kits Handed out at Venice Event Following 470 Cases of Mysterious Illness

June 30, 2022

June 30, 2022

Direct-to-consumer meal kit company under fire for handling of outbreak tied to lentil and leek meal kit By Sam Catanzaro...

Central Coast Brewery Makes Westside Acquisitions

June 29, 2022

June 29, 2022

Figueroa Mountain Brewing acquires Broxton Brewery, The Stalking Horse and more. Staff, current beer taps to remain on board at...

Mexican Restaurant Possibly Expanding Into Former Swingers Space

June 29, 2022

June 29, 2022

Bar Hermanito applies for an alcohol exemption sales permit for space at 802 Broadway in Santa Monica By Dolores Quintana...

Six Family-Fun Westside Fourth of July Events

June 29, 2022

June 29, 2022

Fireworks, parades, runs and more taking place across the Westside  By Ashley Sloan  Pacific Palisades  The Pacific Palisades will be...

California Credit Union Awards Grant to Santa Monica Teacher

June 29, 2022

June 29, 2022

Building electric circuit friendship detectors and applying engineering principles to solve real world problems are Westside school projects receiving funding...

Santa Monica’s Building Bridges Art Exchange Presents: J.J. Martin’s “Role Models”

June 28, 2022

June 28, 2022

A traveling exhibit in partnership with Indianilla Cultural Center, Mexico City and Real de Catorce Cultural Center, Real de Catorce,...

Santa Monica City Council Approves New Rules to Streamline Meetings

June 28, 2022

June 28, 2022

Pilot program will run through end of year By Dolores Quintana At the Santa Monica City Council meeting on June...

Banning Construction of New Gas Stations in Los Angeles?

June 28, 2022

June 28, 2022

Motion from LA City Councilmember Paul Koretz calls for banning the building of any new gas pumping facilities By Sam...

Child Of Elon Musk Receives Approval For Name And Gender Change: Santa Monica Beat – June 27th, 2022

June 27, 2022

June 27, 2022

Local news and culture in under 5 minutes.* Child Of Elon Musk Receives Approval For Name And Gender Change * Smash...