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We want to wish all of our friends and clients a Very Happy Thanksgiving !!!
VENICE REAL ESTATE MARKET UPDATE OCTOBER 2008 VENICE SALES
Sales are for all of Venice and do not necessarily represent sales of CJ Cole. Information is compiled from sources deemed reliable; however, no representation of any kind is made as to its accuracy. HOW DOES THIS COMPARE ??? Sales for the month of October shower a dramatic increase in number of homes sold from 6 during October 2007 to 15 during 2008 ... a 250% increase !!! However, the price per square foot dropped to $797/sf vs $995/sf a year ago ... a 20% decrease. The Multiple Listing Service statistics as of November 26th show Venice listing inventory increased 16.5% from a month ago to 99 active single family homes for sale ... 14 more than a month ago. The average days on market for the current listings increased 20.6% to 82 days from 68 days a month ago. Of the 99 current listings, 61 (61.6%) are listed below last month's average sale price of $1,579,045 and 38 (38.4%) are listed above that average sale price. The average list price for the active listings is $1,717,559 ... 8.7% above October's average sale price. Currently 9 properties are in escrow (average days on market is 73). So far in 2008, 123 single family homes have sold (average days on market was 66 days ... up two from last month) and 188 listings have been taken off the market without selling (average days on market was 105).
For a look of all of the Venice property sales by month since 1999, visit my web site at http://venicebeachliving.com/sa/index.html. 20 PARK AVENUE. VENICE ON A QUIET WALK STREET STEPS TO THE BEACH !!! IN ESCROW ... LOOKING FOR BACKUP !!! Chic Venice beach house on prime walk street just a few steps to the Venice boardwalk and four blocks to trendy Abbot Kinney shops and restaurants. This recently remodeled classic features formal living and dining rooms with beautiful original windows, box beams, wood floors and fireplace. The huge entertainer’s kitchen has top-of-the-line appliances, a bar surrounding the cook top that seats 4-6 guests, fireplace and French doors opening to a private courtyard. Upstairs each of the 3 bedrooms have a private bath and balcony. The master also has fireplace, spa tub and ocean view from the balcony. 3 car garage + parking for 3 more behind the garage. Exclusively offered for sale ... $1,550,000. Beach House: Approximately 2209 s/f ... Built in 1911
2347 EASTERN CANAL . VENICE FABULOUS ARTIST RETREAT !!! SOLD !!! LISTED TO CLOSED IN LESS THAN 60 DAYS !!! This charming 1929 Spanish bungalow provides a pleasant contrast to its dramatic detached three-level studio! The one bedroom, one bath bungalow is warm and inviting with wonderful arched doors and windows opening up to an unsurpassed view of both Eastern and Linnie Canals. Inside you'll find 10' high ceilings, white tile floors throughout, an updated kitchen with vintage stove plus a beautiful garden-view bath overlooking a very private courtyard that separates the cottage from the studio. Built in 1982, the second structure on this property houses a double garage, spacious darkroom, second-level gallery with stunning 3/4 bath, and a third-level loft overlooking the space below and the Canals. There is a loading pulley system from the gallery to transport large canvases/art pieces. Exclusively offered for sale ... $1,795,000. Bungalow: Approximately 800 s/f ... Built in 1929 8 TIPS TO GUIDE YOUR HOME SEARCH 1. Research before you look. Decide what features you most want to have in a home, what neighborhoods you prefer, and how much you’d be willing to spend each month for housing. 2. Be realistic. It’s OK to be picky, but don’t be unrealistic with your expectations. There’s no such thing as a perfect home. Use your list of priorities as a guide to evaluate each property. CAR MORTGAGE UPDATE The CALIFORNIA ASSOCIATION OF REALTORS® (CAR) has created consumer information sheets detailing the various mortgage modification programs available through the larger lenders and government entities, and also has created an easy-to-use reference chart about available programs. · The consumer sheets contain information such as eligibility requirements; who to contact to apply; costs associated with the program; and other vital data. In general, the loan modification programs on the chart and consumer information sheets are intended for primary residences only. · Mortgage loan modifications typically are handled on a case-by-case basis. Homeowners having difficulty meeting their mortgage obligation or interested in finding out more about a loan modification program should start by contacting their lender. Prior to calling a lender or loan servicer, homeowners should have the following information available: loan number; income information and documentation; most recent mortgage statement; bank statements; and a letter demonstrating financial hardship. Download the mortgage modification sheets FAST FACTS California median home price - September 08: $316,480 (Source: CAR) California highest median home price by CAR region September 08: Santa Barbara So. Coast $935,000 (Source: CAR) California lowest median home price by CAR region September 08: High Desert $159,720 (Source: CAR) California First-time Buyer Affordability Index - Second Quarter 08: 48 percent (Source: CAR) Mortgage rates - week ending 11/13/08 Please keep me in mind when you have family, friends or associates who are Thanks ... CJ \
CJ COLE, BROKER Phone: 310.823.3129 . 310.503.4834 |
