Archives for posts with tag: Santa Monica

Thank you to everyone that came out to enjoy the free pumpkins, refreshments and photos at our pumpkin patch this past Sunday. We had such a wonderful time meeting some of our neighbors here in the Santa Monica area and were glad to see everyone enjoying themselves.

We hope to see many of you soon at one of our events. Please bring the kids and grandkids to the Montana Ave. Halloween walk from 4-7pm on Halloween afternoon. WSA will be hosting a costume contest, so make sure the kids are dressed to impress!

 

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Over the summer WSA had the distinct pleasure of participating in Santa Monica’s annual Walk to Africa. Proceeds from the walk go to Lighthouse Medical Missions to help fund medical missions to other countries. This year they are organizing a trip to Kyrgyzstan with the funds from the walk. 

Our team looks forward to working with Dr. Bob and his team again next year to continue making the event a success. 

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If you have an event in Santa Monica or another local Los Angeles area that you would like to share with WSA, please feel free to contact us at 310.899.3510

Great news, I just heard from a fellow agent that an open house he held last weekend in Westwood was attended by 140 people and the house had not even hit the MLS yet.  This is amazing news.  Open house activity has quadrupled.  Buyers are tired of waiting, and sellers are still at the sideline putting their properties on the market very slowing and cautiously.  Inventory is very, very low and buyers are frustrated that there is nothing to look at.  This is all a good sign for the market place.

I expect in the next several months that sellers will start putting their homes on the market and buyers will step up to the plate .  Buyers will start making realistic offers, recognizing that there is a lot of competition in the market.  There are a lot of multiple offers going on right now.  Even though I will not be so bold as to say that prices are going up, the market has definitely leveled and there is definitely more demand then there is available inventory.

By now you should have heard about the dreaded Carmageddon – what LA is calling the 405  freeway shutdown this weekend July 16th – July 17th.  Technically the freeway closes this evening at 6pm between the 101 and 10 freeways and opens up again on Monday morning at 6am just in time for rush hour.  With pandemonium striking many motorists who rely on that 10 mile stretch of already brutal freeway traffic to get anywhere in LA, it’s no wonder the mayor is pleading with people to either leave the city or stay at home and explore their neighborhood.  As a result, businesses are hoping to cash in on extra traffic from locals trying to avoid the freeways.  Here are a few ‘Carmageddon Deals’ for this weekend:

Wine Expo
Deal:
Drink, but don’t drive—customers will get 40.5 percent off their bill at the wine store’s accompanying Wine Bar. The deal will pre-empt the happy hour that normally happens on those days. Moreover, the Wine Expo will slash prices on select items in the store itself. Valid: Friday, Saturday and Sunday nights

Vidiots
Deal: “
405 Closure Special”: Rent five movies for $15 and keep them for up to five days. Stay home and avoid the traffic nightmare. Valid: July 14, 10 a.m. to 11 p.m.; July 15, 10 a.m. to midnight; July 16, noon to midnight; July 17, noon to 11 p.m.; July 18, 10 a.m. to 11 p.m.

Santa Monica Playhouse
Deal: 
Enjoy free tickets to all performances of the wildly popular Rudie-DeCarlo musical All Join In, as well as a sing-along with the actors, song/activity books to take home, a chance to win prizes and get all the complimentary Pirate’s Booty you can eat. Valid: July 16 to 17, 12:30 and 3 p.m.

For more deals, check out Santa Monica Patch.

By Alejandro Lazo Los Angeles Times Staff Writer

An index of home prices in the nation’s largest American cities plumbed new depths in March, pushing past a low set during the worst of the Great Recession.

The ominous new drop for the Standard & Poor’s/Case-Shiller index of 20 cities, a key measure that is closely watched by economists, casts further doubt about the future of the housing market’s recovery. The index pushed below its previous bottom hit in April 2009, confirming a much-feared double-dip in home prices.

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We hope everyone enjoyes our video on the Santa Monica community.

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The numbers report for the home-building industry couldn’t have been more grim in February: New-home construction in the U.S. fell to a pace that would translate to about 250,000 homes for all of 2011, which would be the fewest built since the Commerce Department began keeping track in 1963.

If home building isn’t dead, there’s certainly time to think about what it would look like when it revives, perhaps from 2013 to 2015. That’s according to John McIlwain, a senior fellow at the Urban Land Institute in Washington, which studies trends in housing and development.

McIlwain regularly talks with builders and developers across the country. He expects that when home building once again is flourishing, the big master-planned subdivision that was the face of residential construction for so long won’t have disappeared, but it will look different and be restyled to appeal to a broader array of buyers, especially those who have little in common with the old notion of “a family equals two parents with two kids.”

He talked about what he sees ahead:

Is the big master-planned community dead?

It’s not dead, but it depends on where you are in this country. There are very, very few subdivisions being started, because, by and large, there’s no financing for land development. Prices have come down, but it’s pretty hard for developers to go out and borrow to buy land.

Some developers are taking new approaches to building out their existing communities. They’re selling sections of land to builders in smaller chunks. Instead of saying, “Why don’t you take 500 lots?” as they once did, they’re saying, “Take 50 lots and target them for one particular market, such as empty-nesters.”

To whom are they marketing these chunks?

These builders and developers are beginning to think more in terms of life cycle than in terms of first-time buyer or move-up buyer, etc.

One group is empty-nesters in their late 50s and early 60s who are going to continue to work. They don’t want a big home, but one that’s open and wired and has high ceilings, which helps to visually compensate for the smaller spaces.

Older baby boomers, 56 to 65, haven’t really started to come to grips with aging, but they will in the next five years. They’re going to want a one-story home or an elevator for a two-story.

And home buyers today are more diverse than they have been. Builders should consider marketing to single women, some with kids and some without. Or to two women, offering them two equal master bedrooms.

There’s going to be a need for multigenerational spaces that can accommodate grandparents, adult children and young grandchildren. This is going to be particularly in demand where there is heavy Latino and Asian buying.

What about the houses themselves? Do you buy into the notion that we’re over the McMansion phase and desirous of something compact?

I think you’re right to be skeptical of some kind of fundamental cultural shift for Americans. For post-World War II Americans, it was decades of “I want to express my success with bigger cars, bigger TVs and bigger homes.”

But the median size of new homes already is steady or dropping. Smaller lots already have become acceptable because people don’t have time to take care of them.

With younger adults who may be buying in a few years, longer-term, this generation isn’t going to be able to afford bigger, bigger, bigger. Financial conservatism is replacing the go-for-broke house. These buyers will be willing to trade the over-the-top features that used to be put in just for resale value in exchange for flexible, open spaces that are energy-efficient. And they do want to be able to work at home, with wired and wireless connectivity. (LA Times)

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