It seemed like a long hot summer for me and still does.
What about you? It was so hot in fact, I didn’t write much – had a bit of writer’s block.
Okay, maybe I was just being lazy, but have no fear, I am here – for the next week anyway. The following week I am taking off with some friends to ride motorcycles in the Dolomites (northeastern Italy) and visit Oktoberfest in Munich. My Pence Hathorn Silver team will be selling up a storm while I am gone so feel free to reach out to any of them!
In spite of all the negative news reports, the Santa Monica real estate market is healthy.
We just sold a fixer on 15th Street in record time at a premium price. The home was listed for $4.5M. We generated 8 purchase offers ranging from a silly sub $4M offer to an accepted offer, over list price with great terms – 14 day escrow, zero contingencies, all cash etc. Call me for more details if you are curious.
Did You Know
- The Federal Reserve board of governors show that household equity in real estate in the U.S. grew to $27.8 trillion in the first three months of 2022, a $1.4 trillion increase from the previous quarter. Total U.S. mortgage debt grew to $12.8 trillion, a $240 billion increase.
- Many in financial circles are pushing for a big unemployment spike to bring down inflation and a 0.75% rate increase seems inevitable. (WSJ)
- Scroll down for more local real estate news but if you want to see what $100,000,000 buys you in Aspen, Colorado click the link here.
Here is the North Santa Monica Real Time Real Estate Info
There are currently 16 active listings North of Montana Avenue in Santa Monica.
The Most Recent Listings Are
- 325 Georgina Avenue - A Pence Hathorn Silver listing for $9,788,000. Historic 1911 Craftsman on the corner of Georgina and 4th Street. The lot is almost 21,000 square feet and has a tennis court. This is going to be a great project for someone.
- 214 15th Street - Listed at an ambitious $4,895,000 and recently reduced to $4,650,000. This 1925 Spanish has a lot going for it, but at just over 2,200 square feet on a 50ft wide lot, the asking price may be a reach. The main house is just 2 bedrooms but there is a room above the detached garage and a nice pool in the backyard. I sold this house in 2005 for $2,115,000.
There Are 4 Properties in Escrow
- 457 15th Street - A Pence Hathorn Silver listing for $4,495,000. This is a primo lot. Over 10,000 square feet on the corner of 15th and Marguerita Avenue. As expected, we will receive multiple offers from developers and end-users alike.
- 323 15th Street - Listed for $3,650,000. DOM – 30
- 101 Larkin Place - Listed at $3,995,000. DOM – 18
- 410 15th Street - Listed at $5,949,000. DOM – 53
Over the Last Six Weeks, Eleven Have Sold
It is interesting to note that nearly all of these recent sales were “fixers” of various degrees.
- 539 Palisades Avenue - Sold for $3,960,000. Originally listed at $3,199,000.
- 469 25th Street - Sold for $5,025,000. Originally listed at $4,850,000.
- 339 21st Street - Sold for $5,375,000. Originally listed for $4,950,000.
- 520 15th Street - Sold for $4,375,000. Originally listed for $3,850,000.
- 432 16th Street - This one was initially listed at $3.2M, then raised to $3.4M. It ended up selling for $3,600,000.
- 447 16th Street - Sold for $3,750,000. Originally listed for $3,895,000.
- 534 26th Street - Sold for $2,927,579. Originally listed for $2,995,000.
- 2502 Marguerita - Sold for $7,825,000. Originally listed for $7,999,000.
- 525 4th Street - Sold for $2,474,475. Originally listed for $2,790,000.
- 517 10th Street - Sold for $3,850,000. Originally listed for $4,200,000.
- 435 Georgina Avenue - Sold for $8,247,000. Originally listed for $8,995,000.
