Santa Monica City Hall Fights To Keep RDA Funding

Santa Monica City Hall Fights To Keep RDA Funding

The City of Santa Monica is joining other cities in fighting Gov. Jerry Brown’s planned use of Redevelopment Agencies funds to close the States multi billion dollar budget gap. Click on the link below to read the article.

City Hall fights to keep RDA funding

 

Market Conditions for Sunset Park in Santa Monica, California

The Sunset Park neighborhood of Santa Monica, which has approximately 2700 single family homes, has been a very active market in the past few months. There are only 23 homes currently available with an average amount of more than 100 days listed on the market.

As of the third week of May, there are currently 15 properties that are in escrow and under contract. And since March of this year there have been 19 homes that have sold and closed escrow.

This is a positive market indicator of a neighborhood that shows a high demand with a very limited inventory.

In this market, buyers are being much more meticulous with their searches.  They are definitely looking for value since longer term goals are much more of the focus. I am seeing properties selling with multiple offers and selling above their asking prices. It is evident that buyers only make offers if they perceive that the value is there and the property might not be available tomorrow.

 

My New West Los Angeles Real Estate Blog

Hello everybody. My name is Gary Limjap and I am creating the first post to this site’s new blog feature. I will be contributing regular posts with information regarding Los Angeles real estate events, market trends, homes for sale, community events and other interesting Los Angeles facts. Stay tuned. I think this will be a great source for Los Angeles real estate information.

Also, please see my featured Los Angeles real estate listings.