Update on our 339 20^th Street house that we brought to the market last week. Over 175 people have been to the property in the past 10 days. Offers are due in our Montana Ave office no later than Friday 2/17/2012. We expect there will be at least 10 offers and the kicker is that all of the people that appear serious about buying the home plan to renovate – not tear down.

Active/ Available New Listings

409 21^st St. -  2bd + 2ba.  $2,195,000.   New Listing.  A Great location, 60 x 149 foot lot, includes plans for a new home. 

417 Euclid St.-  2bd + 1ba.  $1,688,000.   New Listing.  Great price for this apx. 7,500 foot, land value development site.

509 21^st Pl. -  6bd + 5.5ba.  $3,995,000.   New Listing by Pence Hathorn Silver.  The lowest price ever offered for this “like-new” contemporary 3-level home (see photo on the right).

New Sales (Now In Escrow/ Sale Pending)

522 25^th St.-  5bd + 7ba.  $3,000,000.   Foreclosure

Sold/ Closed

1105 Georgina Ave. -  4bd + 4.5ba.  $3,105,000.   Sold in less than two weeks.  I feel  that this home will prove to be the best buy of all in 2012.  Apx. 14,000+ sq. ft. lot, easy home to refurbish, trophy street.

680 San Lorenzo St. -  3bd + 2.5ba.  $2,997,000.   Sold by Pence Hathorn Silver.  Sold in less than a month.   Great floor plan and supreme Santa Monica Canyon location.

 Pence Hathorn Silver Active Properties:

101 17^th St. – 6bd + 8.5ba – $7,350,000

509 21^st Pl. – 6bd + 5.5ba – $3,995,000

401 18^th St. – 4bd + 4.5ba – $3,400,000

551 Lincoln Blvd. – 5bd + 4.5ba – $3,145,000

33 26^th Ave. – 5bd + 5ba – $2,799,000

733 19^th St. – 3bd + 2.5ba – $2,595,000

339 20^th St. – 4bd + 3.5ba – $2,095,000

2060 Benedict Canyon Dr – 3bd + 2.5ba – $1,249,000

3002 3^rd St. #206 – 2bd + 2.5ba – $899,000

1658 Camden Ave. #306 – 2bd + 2ba – $589,000

1436 20^th St. #10 – 2bd + 2.5ba – $585,000

Search for more homes, see real time analytics and learn about the North Santa Monica / North of Montana Ave community on our North of Montana blog.

And please call me at (310) 458-4024 with any questions.

The hot new listing this week is my 339 20^th St. (see photo on the right).  The minute this house hit the MLS the phones started ringing non-stop.  Since this is a Trust Sale, there will be limited Seller disclosures (the Seller never lived on the property). Offers that have no contingencies will be given highest consideration. This may weed out some end users that have dreams of refurbishing the existing house as most end users are not aggressive enough to make offers without the usual Financing and Inspection contingencies. The Trust needs to remove all the risk from the offers and will likely only negotiate with the highest price offers that are not contingent on any loans, inspection, or any other contingencies. I am holding it open this weekend on Saturday and Sunday from 1-4pm and Tuesday from 11–2PM. We plan to review offers on Friday, February 17, 2012.

339 20^th St. -  4bd + 3.5ba.  $2,095,000.   New Listing!  A Pence Hathorn Silver listing that offers a Classic 1920’s Spanish apx. 2,700+ sq. ft. on an almost 9,000 sq. ft. lot.   First time on the market in over 30 years.   Lots of old world charm.  Great location!   A must see. 

New Sales (Now In Escrow/ Sale Pending)

1424 Marguerita Ave. -  5bd + 4.5ba.  $2,999,000.   Sold in less than a month with multiple offers.  A little too 80’s for some but very easy to modernize the finishes. Great floor plan and supreme location.

There were no closed sales in the past week…..

Pence Hathorn Silver Active Properties:

101 17^th St. – 6bd + 8.5ba – $7,350,000

509 21^st Pl. – 6bd + 5.5ba – $4,250,000

401 18^th St. – 4bd + 4.5ba – $3,400,000

551 Lincoln Blvd. – 5bd + 4.5ba – $3,145,000

33 26^th Ave. – 5bd + 5ba – $2,799,000

733 19^th St. – 3bd + 2.5ba – $2,595,000

339 20^th St. – 4bd + 3.5ba – $2,095,000

2060 Benedict Canyon Dr – 3bd + 2.5ba – $1,249,000

3002 3^rd St. #206 – 2bd + 2.5ba – $899,000

1658 Camden Ave. #306 – 2bd + 2ba – $589,000

1436 20^th St. #10 – 2bd + 2.5ba – $585,000

Search for more homes, see real time analytics and learn about the North Santa Monica / North of Montana Ave community on our North of Montana blog.

And please call me at (310) 458-4024 with any questions.

I have for years advised sellers to consider getting a jump on the competition by placing their homes on the market well before the traditional “Spring Selling Season” inventory typically hits the market – which is typically in March. The earliest I advise is immediately after Super Bowl Sunday. I feel that Buyers that stopped their home search in November and December to make more time for the holidays are, by Super Bowl time (1^st weekend in February) ready to roll again. These buyers may even have some extra pent up demand or extra motivation after witnessing homes go off the market during those same months. Add all this and the possibility that holiday entertaining may have helped nudge people to consider buying bigger, better homes and we might have the “perfect storm.”

There were only 2 new listings this week and there were 3 sales and no closings:

Active/ Available New Listings

101 17^th St. -  6bd + 8.5ba.  $7,350,000.   New Listing! Huge (nearly double lot) A Pence Hathorn Silver listing that offers a custom built French influenced villa, designed and built by John Andrews on a hard to find apx. 14,400+ sq. ft. corner lot in Gillette’s Regent Square.  See photo on the right.

 428 14^th St. -  3bd + 1ba.  $1,649,500.   New Listing at a really low price for the area.  Fantastic opportunity to own a small, starter home in a great spot on 14^th Street.  This is a Trust sale, first time on the market in over 70 years (read “needs everything”, land value).

New Sales (Now In Escrow/ Sale Pending)

302 Marguerita Ave. -  3bd + 3ba.  $4,250,000.   Sold in less than a month!   Popular “west of 4^th St. location.  Mediterranean on an apx. 11,000+ sq. ft. lot, just blocks to the beach.

633 Euclid St. -  3bd + 2ba.  $2,348,000.   Sold in less than two weeks!  This sale surprised me as I felt it was priced at the tip top of what it could be worth. 3bd + 2ba traditional with detached guest house.

239 Euclid St. -  3bd + 1.75ba.  $1,795,000.   Sold in less than two weeks!  Listed by Pence Hathorn Silver.  Best value, best location, charming “livable, land value” property north of Montana.  Beautiful backyard.  Loads of potential. 

There were no closed sales in the past week..

Pence Hathorn Silver Active Properties:

101 17^th St. – 6bd + 8.5ba – $7,350,000

509 21^st Pl. – 6bd + 5.5ba – $4,250,000

401 18^th St. – 4bd + 4.5ba – $3,400,000

551 Lincoln Blvd. – 5bd + 4.5ba – $3,145,000

33 26^th Ave. – 5bd + 5ba – $2,799,000

733 19^th St. – 3bd + 2.5ba – $2,595,000

2060 Benedict Canyon Dr – 3bd + 2.5ba – $1,249,000

3002 3^rd St. #206 – 2bd + 2.5ba – $899,000

1658 Camden Ave. #306 – 2bd + 2ba – $589,000

1436 20^th St. #10 – 2bd + 2.5ba – $585,000

Search for more homes, see real time analytics and learn about the North Santa Monica / North of Montana Ave community on our North of Montana blog.

And please call me at (310) 458-4024 with any questions.

1424 Marguerita Ave. -  5bd + 4.5ba.  $2,999,000.   New Listing, probably will sell quickly. Being sold by its original owner of 1982. Nice location on 15^th and Marguerita. Small but adequate backyard.

363 21^st Pl. -  4bd + 3.75ba.  $2,550,000.   Newly relisted.   We had this home on the market a few years ago and thought it was very saleable. Unfortunately at that time, the market did not cooperate. Nice house with  2 up and 2 down, pool and yard.

633 Euclid St. -  3bd + 2ba.  $2,348,000.   New Listing.  Another “fully priced” listing. (for this house size, lot size, and location).  Detached guest house is a big plus.

239 Euclid St. -  3bd + 1.75ba.  $1,795,000.  New Listing. A fantastic Pence Hathorn Silver listing.  Best value, best location, charming “livable, land value” property north of Montana.  Beautiful backyard.  Loads of potential.  (This is one of the “coming soon properties I wrote about last week; see photo on the right.)

New Sales (Now In Escrow/ Sale Pending)

235 21^st St. -  5bd + 5.5ba.  $3,275,000.   Sold in two weeks!   (Sort of) This house was listed in the 4^th quarter of 2011, taken off  the market during the holidays and relisted with Partners Trust a few weeks ago, and sold two weeks later.  Classic Spanish,  great floor plan.  4 bedrooms and 3 baths up, 1 bedroom and 1 bath down.

There were three closed sales in the past week:

La Mesa Way  –   7bd + 8ba – was listed for $9,995,000.  Listed by Pence Hathorn Silver.

538 Marguerita Ave.  –   2bd + 1.75ba – was listed for $2,595,000, sold for $2,700,000. Listed and sold by Pence Hathorn Silver in less than two weeks OVER LIST PRICE!

1610 San Vicente Blvd.  –   3bd + 3.75ba – was listed for $1,895,000, sold for $1,900,000. Sold by Pence Hathorn Silver in two weeks,  OVER LIST PRICE!

Pence Hathorn Silver Active Properties:

 509 21^st Pl. – 6bd + 5.5ba – $4,250,000

401 18^th St. – 4bd + 4.5ba – $3,400,000

551 Lincoln Blvd. – 5bd + 4.5ba – $3,195,000

33 26^th Ave. – 5bd + 5ba – $2,799,000

733 19^th St. – 3bd + 2.5ba – $2,595,000

2060 Benedict Canyon Dr – 3bd + 2.5ba – $1,249,000

3002 3^rd St. #206 – 2bd + 2.5ba – $899,000

1658 Camden Ave. #306 – 2bd + 2ba – $589,000

1436 20^th St. #10 – 2bd + 2.5ba – $585,000

Search for more homes, see real time analytics and learn about the North Santa Monica / North of Montana Ave community on our North of Montana blog.

And please call me at (310) 458-4024 with any questions.

513 Lincoln Blvd. -  3bd + 2ba.  $1,789,000.   Probably land value and not a bad price for this location.  It would be higher if the residents on Lincoln, in this R1 zone north of Montana, could somehow get the Lincoln name changed to 8^th Street.

New Sales (Now In Escrow/ Sale Pending)

1105 Georgina Ave. -  4bd + 4.5ba.  $3,250,000.   Sold in less than two weeks!   5 offers on this Classic Monterey style home, apx. 14,000+ sq. ft. lot on a trophy street. 

There was only one closed sale in the past week:

320 22^nd St.  –   3bd + 2ba – was listed for $1,850,000, sold for $1,758,800 Land value, imo.

Coming soon:

339 20^th Street and 239 Euclid Street (photo is shown on the right).   2 charming older, mostly original homes listed for $2,095,000 and $1,795,000, respectively.

Pence Hathorn Silver Active Properties:

 509 21^st Pl. – 6bd + 5.5ba – $4,250,000

401 18^th St. – 4bd + 4.5ba – $3,400,000

551 Lincoln Blvd. – 5bd + 4.5ba – $3,195,000

33 26^th Ave. – 5bd + 5ba – $2,799,000

733 19^th St. – 3bd + 2.5ba – $2,595,000

2011 Idaho Ave. –  3bd + 2.5ba, $1,395,000

2060 Benedict Canyon Dr – 3bd + 2.5ba – $1,249,000

3002 3^rd St. #206 – 2bd + 2.5ba – $899,000

1658 Camden Ave. #306 – 2bd + 2ba – $589,000

1436 20^th St. #10 – 2bd + 2.5ba – $585,000

Search for more homes, see real time analytics and learn about the North Santa Monica / North of Montana Ave community on our North of Montana blog.

And please call me at (310) 458-4024 with any questions.

2012 is starting with great market energy with several new listings this week, two that fell out of escrow and are back on the market and a couple of re-lists that failed to sell during their original listing periods.

302 Marguerita Ave.-  3bd + 3ba.  $4,250,000.   Wonderful  west of 7^th location, apx. 4,000+ sq. ft. Mediterranean home on an apx. 11,000+ sq. ft. lot.

1105 Georgina Ave. -  4bd + 4.5ba.  $3,250,000.   Classic Monterey style home for sale by its longtime owner.   This is a “best buy” in my opinion, apx. 14,000+ sq. ft. lot on a trophy street.  Below is a photo of 1105 Georgina Ave. 

527 19^th St. -  3bd + 2ba.  $2,350,000.  Many original details, charming ambience, some upgrades including a hidden swimming pool.

436 Georgina Ave. -  6bd + 9.5ba.  $9,995,000.   Relisted.  Stately Georgian Colonial apx. 11,000 sq. ft. on one of most sought after streets in Santa Monica.

235 21^st St. -  5bd + 5ba.  $3,275,000.  Relisted.  Classic and charming Spanish north of Montana Ave. with remodeled guest house.

310 22^nd St. -  5bd + 6ba.  $3,259,000.   Back on Market, again!  What is it going to take to get this home off the market?  It has been on and off for years. (too much)

 230 16^th St. -  5bd + 3.5ba.  $2,875,000.   Back on Market.  Fully updated stylish 1926 Spanish.

627 24^th St.-  3bd + 2ba.  $1,999,000.   Light-filled traditional Spanish.  Garage converted into guest quarters with bath.  Close to Franklin school.

Coming soon……call John for a sneak peek at some upcoming inventory.

There was only one closed sale in the past week:

502 18^th St. –   4bd + 4.5ba – $2,450,000, sold for $2,400,000

Pence Hathorn Silver Active Properties:

 509 21^st Pl. – 6bd + 5.5ba – $4,250,000

401 18^th St. – 4bd + 4.5ba – $3,400,000

551 Lincoln Blvd. – 5bd + 4.5ba – $3,195,000

33 26^th Ave. – 5bd + 5ba – $2,799,000

733 19^th St. – 3bd + 2.5ba – $2,595,000

2011 Idaho Ave. –  3bd + 2.5ba, $1,395,000

2060 Benedict Canyon Dr – 3bd + 2.5ba – $1,249,000

3002 3^rd St. #206 – 2bd + 2.5ba – $899,000

936 Milwood Ave. – 2bd + 1ba – $650,000

1658 Camden Ave. #306 – 2bd + 2ba – $589,000

1436 20^th St. #10 – 2bd + 2.5ba – $585,000

Search for more homes, see real time analytics and learn about the North Santa Monica / North of Montana Ave community on our North of Montana blog.

 And please call me at (310) 458-4024 with any questions.

• The average sold price for the last half of 2010 to 2011 has remained nearly flat from $2,879,896 (year 2010) to $2,804,701 (year 2011) –  a very small -2.61% change.
• The average sold price per square foot for the same period slightly increased from $859.14 to $880.10 – a 2.3% increase.
• The sold average days on market for the last half of 2010 to 2011 has gone down from 79 to 51 days – a drop of 35.44%.
• The gap on the sold price to original list price is closing.  The ratio in 2010 was 93% and in 2011 was 97%.

There were no new listings or sales in the area over the two week Holiday period.  We do have a few “quiet listings” that we will be bringing on in the near future.  Call John for details.

There were two closed sales in the past two weeks:

445 24^th St. –   5bd + 3ba – $2,195,000, sold for $2,110,000

532 11^th St. –   3bd + 2ba – $1,895,000, sold at list price 

Pence Hathorn Silver Active Properties:

 509 21^st Pl. – 6bd + 5.5ba – $4,250,000

401 18^th St. – 4bd + 4.5ba – $3,400,000

1030 Gretna Green Way  – 5bd + 5.5ba – $3,145,000

551 Lincoln Blvd. – 5bd + 4.5ba – $3,195,000

33 26^th Ave. – 5bd + 5ba – $2,799,000

733 19^th St. – 3bd + 2.5ba – $2,595,000

11362 Chenault St. – 3bd + 3.5ba – $1,695,000

2011 Idaho Ave. –  3bd + 2.5ba, $1,395,000

2060 Benedict Canyon Dr – 3bd + 2.5ba – $1,249,000

3002 3^rd St. #206 – 2bd + 2.5ba – $899,000

936 Milwood Ave. – 2bd + 1ba – $650,000

1658 Camden Ave. #306 – 2bd + 2ba – $589,000

1436 20^th St. #10 – 2bd + 2.5ba – $585,000

10979 Exposition Blvd.  – 2bd + 1ba – $499,000

Search for more homes, see real time analytics and learn about the North Santa Monica / North of Montana Ave community on our North of Montana blog.

And please call me at (310) 458-4024 with any questions.

To recap the year, the highest closed sale reported was the property at 336 Adelaide Dr. (pictured on the right) , which actually sold twice within three months of 2011 to different Buyers.

The five bedroom, eight bath home was listed for $11,995,000 and sold for $11,650,000- both times!

The least expensive closed sale of 2011 was 336 7^th St. which closed in May at $1,278,000.  A  two bedroom and one-and-a-half bath home.  7^th  is a well-travelled street and typically discounted for this reason.

The most expensive active listing on the market at this time is 436 Georgina Ave. which is priced at $9,995,000.  It came on the market in April at $11,980,000 and is on one of the most desired streets in Santa Monica.  The house is apx. 11,000+ sq. ft. and the lot is apx. 22,200 sq. ft.  Pictured below is  436 Georgina Ave.

The least expensive home available right now in the flats is 425 26^th St.  It’s a short pay (distressed sale) listing with a bank approved listing price of $2,800,000.

The most expensive home under contract is 2515 La Mesa Way, Santa Monica.  Listed by Pence Hathorn Silver.  This sprawling estate sits on a one-of-a-kind 51,000+ sq. ft. lot- which is an extremely rare lot size for Santa Monica.

The market seems to be setting itself up for a very busy 2012 with continued low interest rates and low inventory.  My advice to Buyers is that if they see a house they like- buy it!  My advice to owners is that if you are interested in Selling-  call me!  The market is brisk for properties that are priced appropriately.

Pence Hathorn Silver Active Properties:

 509 21^st Pl. – 6bd + 5.5ba – $4,250,000

401 18^th St. – 4bd + 4.5ba – $3,400,000

1030 Gretna Green Way  – 5bd + 5.5ba – $3,145,000

551 Lincoln Blvd. – 5bd + 4.5ba – $3,195,000

33 26^th Ave. – 5bd + 5ba – $2,799,000

733 19^th St. – 3bd + 2.5ba – $2,595,000

11362 Chenault St. – 3bd + 3.5ba – $1,695,000

2060 Benedict Canyon Dr – 3bd + 2.5ba – $1,249,000

3002 3^rd St. #206 – 2bd + 2.5ba – $899,000

 936 Milwood Ave. – 2bd + 1ba – $650,000

1658 Camden Ave. #306 – 2bd + 2ba – $589,000

1436 20^th St. #10 – 2bd + 2.5ba – $585,000

10979 Exposition Blvd.  – 2bd + 1ba – $499,000

Coming soon –  2011 Idaho Ave. – 3+2.5, $1,395,000

Search for more homes, see real time analytics and learn about the North Santa Monica / North of Montana Ave community on our North of Montana blog.

And please call me at (310) 458-4024 with any questions.

As might be expected this time of year, there were no new sales reported to the MLS in the past 7 days.  2 homes closed escrow this week and 1 new listing appeared on the market.

Active/ Available New Listings

477 21^st Pl. -  8bd + 9ba.  $5,999,999.   A huge price for a 2-parcel package deal  - apx. 17,500 sq. ft. corner lot on 21^st Place and Marguerita.

New Sales (Now In Escrow/ Sale Pending)

None, however there are 15 properties under contract in various stages of closing escrow.

Sold/ Closed 

247 14^th St. –   5bd + 5.5ba – Listed for $3,995,000, sold for $3,695,000 

828 Georgina Ave. –   3bd + 2ba – Listed for $1,750,000, sold for $1,693,000

Pence Hathorn Silver Active Properties:

509 21^st Pl. – 6bd + 5.5ba – $4,250,000

401 18^th St. – 4bd + 4.5ba – $3,400,000

1030 Gretna Green Way  – 5bd + 5.5ba – $3,145,000

551 Lincoln Blvd. – 5bd + 4.5ba – $3,195,000

33 26^th Ave. – 5bd + 5ba – $2,799,000

733 19^th St. – 3bd + 2.5ba – $2,595,000

11362 Chenault St. – 3bd + 3.5ba – $1,695,000

2060 Benedict Canyon Dr – 3bd + 2.5ba – $1,249,000

936 Milwood Ave. – 2bd + 1ba – $650,000

1658 Camden Ave. #306 – 2bd + 2ba – $589,000

1436 20^th St. #10 – 2bd + 2.5ba – $585,000

10979 Exposition Blvd.  – 2bd + 1ba – $499,000

Search for more homes, see real time analytics and learn about the North Santa Monica / North of Montana Ave community on our North of Montana blog.

And please call me at (310) 458-4024 with any questions.

The walk raised funds and showed support for Jeffrey Hughes, a fourth grader who was recently diagnosed with a very rare and serious cancer. At 1:45pm students and parents walked approximately 1 mile from Franklin Elementary to our new office space at 1333 Montana Avenue to celebrate Jeffrey’s courage and strength.

Fire Trucks and police cars escorted the huge group of supporters on their walk down Montana Avenue. Many raffle prizes and snacks were donated by local businesses, free buzz cuts were offered and there was plenty of chalk for sidewalk art! The turn-out was huge, completely filling our new office space.’

If you want to donate to the fund created for Jeffrey, please visit the website to make a donation or bid on one of the many silent auction items.