tag:blogger.com,1999:blog-56303053414564593802024-03-13T13:32:33.113-07:00Sandra Lew - Broker Associate : Real Estate NewsFor all your real estate needs in California... Specializing in beach properties on the coast, the Westside, Silicon Beach and greater LA.
My website: www.sandralew.com
Email: sandy@sandralew.com Cell: 310-963-1623 CalBRE#01920376
Keller Williams Beach Cities
830 S.Pacific Coast Hwy #200
El Segundo, CA 90245Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.comBlogger196125tag:blogger.com,1999:blog-5630305341456459380.post-32054774366225421912020-09-19T23:41:00.003-07:002020-09-19T23:41:30.294-07:00<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-Ix3bVOzePhU/X2b0MIxmBLI/AAAAAAAAAf0/MVsLtoPG0a4OuwnS7kCz_evxn4UCJ8BFwCLcBGAsYHQ/s1584/6220_Pacific_Ave_301_lease.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1584" data-original-width="1224" height="320" src="https://1.bp.blogspot.com/-Ix3bVOzePhU/X2b0MIxmBLI/AAAAAAAAAf0/MVsLtoPG0a4OuwnS7kCz_evxn4UCJ8BFwCLcBGAsYHQ/s320/6220_Pacific_Ave_301_lease.jpg" /></a></div><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-4944Q1ZGYzk/X2b4Iy3OvuI/AAAAAAAAAgA/Q_cceBUHRM47oJ_WDdPZsV3RR9kDx2gKACLcBGAsYHQ/s1992/IMG_8991.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1328" data-original-width="1992" src="https://1.bp.blogspot.com/-4944Q1ZGYzk/X2b4Iy3OvuI/AAAAAAAAAgA/Q_cceBUHRM47oJ_WDdPZsV3RR9kDx2gKACLcBGAsYHQ/s320/IMG_8991.jpg" width="320" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-79SigdEQ6TM/X2b4eiImh2I/AAAAAAAAAgI/aI1LZWTeqxQjqsVLNhs0kqzGgH07q63VQCLcBGAsYHQ/s1632/IMG_8989.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1224" data-original-width="1632" src="https://1.bp.blogspot.com/-79SigdEQ6TM/X2b4eiImh2I/AAAAAAAAAgI/aI1LZWTeqxQjqsVLNhs0kqzGgH07q63VQCLcBGAsYHQ/s320/IMG_8989.JPG" width="320" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-Rz163cqTZhE/X2b4s5U3k8I/AAAAAAAAAgM/LZp813_3EUwRhVlKjzVGxuaoIUNK9aGIwCLcBGAsYHQ/s1632/IMG_8988.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1224" data-original-width="1632" src="https://1.bp.blogspot.com/-Rz163cqTZhE/X2b4s5U3k8I/AAAAAAAAAgM/LZp813_3EUwRhVlKjzVGxuaoIUNK9aGIwCLcBGAsYHQ/s320/IMG_8988.JPG" width="320" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-Lr-pCZaI5yc/X2b5Ptc7ogI/AAAAAAAAAgc/5nOce6QVgAgrJqgXIGEbRPIMVTLXG9yxACLcBGAsYHQ/s1992/IMG_8995.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1328" data-original-width="1992" src="https://1.bp.blogspot.com/-Lr-pCZaI5yc/X2b5Ptc7ogI/AAAAAAAAAgc/5nOce6QVgAgrJqgXIGEbRPIMVTLXG9yxACLcBGAsYHQ/s320/IMG_8995.jpg" width="320" /></a></div><br />Ultimate silicon beach lifestyle awaits. Contemporary modern gourmet kitchen with quartz countertops & stainless steel appliances. Spacious open floor plan. Envious top floor penthouse with ocean views. You can see the Venice Beach Pier in the distance!! No common walls corner unit. Luxurious master retreat with dual vanity and shower heads, tub and walk in custom closet. Office with private entrance. Spoil yourself! Steps to the sand next to the bike path bridge and Del Rey Lagoon. Spoil yourself. <br /><p></p><p>Hurry this one won't last long. 6220 Pacific Ave #301, Playa Del Rey, CA 90293</p><p>3 Bedrooms/ 3 Full Baths - private office entrance. For Lease $5450/month. <br /></p><p>Steps from the beach, located next to the bike and pedestrian path to Marina Del Rey. Playa Del Rey is the local's beach town between Manhattan Beach and Santa Monica with easy access to LAX. </p><p>Love the California coastal lifestyle. Walkability to local eats and shops. <br /></p><p>Contact : Listing Broker Associate - Sandra Lew (310) 963-1623 or sandy@sandralew.com for more details and appointment to view. PEAD covid guidelines followed. </p><p>Sandra Lew - Broker Associate CalBRE# 01920376</p><p>Re/Max Estate Properties - 124 Washington Blvd, Marina Del Rey, CA 90293<br /></p><p><br /></p><p><br /></p><p><br /></p>Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com1tag:blogger.com,1999:blog-5630305341456459380.post-57313341386143440732020-04-06T13:46:00.000-07:002020-04-09T10:55:43.161-07:00<br />
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<h1 itemprop="headline" tabindex="0">
Housing market shows first signs of trouble from pandemic</h1>
The housing market has taken a pause due to the uncertainty of the coronavirus pandemic in an ever evolving climate. Stay home lockdown orders globally have changed the face of real estate to virtual showings no more physical open houses. There are new liability release disclosure forms signed by all parties involved to view a property by appointment only. Having a realtor you trust for a real need of housing becomes even more important. While deemed an essential service in California realtors must take precautions for all to continue assisting others with their need to find a home.<br />
<br />
As a virtual digital agent as our physical Re/Max offices are presently closed in this technical age I'm able to continue serving others online being the local area expert in greater Los Angeles and the coast on the westside communities of Playa Del Rey, Marina Del Rey, Venice Beach, Santa Monica, Playa Vista, Culver City, and West LA. Many are on the fence to sell, buy, hold , move or lease as this pandemic is evolving. We are all in this together. Be well. Feel free to connect sandy@sandralew.com for any questions or maybe just a link to search the MLS (multiple listing service) for an up to date idea of the market. <br />
Sandra Lew - Re/Max Estate Properties CalBRE# 01920376- Cell 310-963-1623<br />
<br />
April 6, 2020 Jacob Passy - MSN Marketwatch<br />
Housing market show first sign of trouble from pandemic.<br />
March started out as a strong month for the U.S. housing market — but by
the second half of the month, the first indications that the
coronavirus pandemic would weigh on homeselling activity began to
emerge, according to a new report from Realtor.com.<br />
<br />
In the weeks ending March 21 and March 28, the number of newly-listed
properties fell by 13.1% and 34% respectively when compared with the
same period a year ago, Realtor.com found. This is an indication that
home sellers may be holding off on listing their properties right now.<br />
<br />
The pace of home-price growth also slowed notably in the latter half
of the month, according to the report. Home list prices were only up
3.3% year-over-year for the week ending March 21, and 2.5% for the
following week. This represented the slowest pace of listing price
growth since Realtor.com started tracking this data in 2013.<br />
<br />
“Our
inventory and listing data can provide some early insight into how
housing markets may be impacted by COVID-19, but the situation and
reactions to it are still rapidly evolving,” Realtor.com chief economist
Danielle Hale wrote in the report.<br />
<br />
“The U.S. housing market had a
good start to the year. Despite still-limited homes for sale, buyers
were buying and builders were building,” she wrote. “The pandemic and
virus-fighting measures appear to be disrupting that initial momentum as
both buyers and sellers adopt a more cautious posture.”<br />
<br />
Real-estate
firms have taken steps to brace for the impact of the coronavirus
pandemic. So-called iBuyers including Zillow (ZG) and Redfin
(RDFN) that purchase homes from sellers and then sell them for a profit
had wound down their home-buying operations in anticipation of an
economic downturn. Real-estate brokers, incuding Redfin and Re/Max
(RMAX) , had also shifted toward virtual home tours as open houses
became verboten in the wake of social-distancing recommendations.<br />
<br />
And other recent reports have shown additional signs of a slowdown in the housing market. LendingTree (TREE) released an analysis
of Google (GOOG) search data analyzing the popularity of the search
term “homes for sale” across the country’s 50 largest metro areas.
Searches for “homes for sale” have fallen across all 50 cities in the
study from their peak levels in 2020 thus far.<br />
<br />
LendingTree estimated that these Google searches could drop some 63%
compared with last year if the impact of the COVID-19 outbreak remains
substantial for the next two months. A drop in web searches could
presage a decline in home sales.<br />
<br />
Another
sign that home sales will slump this spring: Mortgage applications. The
volume of mortgage applications for loans used to purchase homes was
down 24% compared with a year ago for the week ending March 27,
according to data from the Mortgage Bankers Association. That’s in spite
of mortgage rates being near historic lows. Comparatively, the volume
of refinance applications was 168% higher than a year ago.<br />
<br />
Before
the coronavirus pandemic flared up, the U.S. housing market was on
relatively solid footing. While the number of homes for sale remained
low — constraining sales activity to an extent — demand among buyers was
still quite high. Low mortgage rates had fueled an early start to the
spring home-buying season, with homes selling four days faster in March
when compared with 2019 levels, Realtor.com found.<br />
<br />
<b>The jump in
jobless claims has stoked concerns of a repeat of the Great Recession
and the foreclosure crisis that preceded it. But housing economists
argue that this is unlikely to be the case.</b><br />
<b>“While housing led the
recession in 2008-2009, this time it may be poised to bring us out of
it</b>,” Mark Fleming, chief economist for title insurance company First
American Financial Corporation (FAF) , wrote in a report this week.<br />
<br />
Unlike
in the 2000s, the housing market in the U.S. is not overbuilt, Fleming
argued, making it less likely that a large swath of vacant properties
will crater the home values for homeowners. <b>Rising home values and
stricter lending standards have also meant that homeowners are sitting
on historically high amounts of home equity.</b><br />
<br />
“The housing market
will not go unscathed, as consumer confidence and a strong labor market
are essential in the decision to purchase a home,” Fleming wrote. “Yet,
this time, housing is a casualty of a public health crisis turned
economic, not the cause of an economic crisis.”<br />
<br />
Source: https://www.msn.com/en-us/money/realestate/housing-market-shows-first-signs-of-trouble-from-pandemic/ar-BB1250Oq <br />
<br />Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com1tag:blogger.com,1999:blog-5630305341456459380.post-89248937339624512642019-01-25T20:18:00.001-08:002019-01-25T20:18:44.370-08:00Sandy Lew's Re/Max hustle commercial - "LA Beach Broker" . Househunting fun!<div class="separator" style="clear: both; text-align: center;">
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<br />
<br />
Looking for a savvy marketing , well seasoned globetrotter, with the
tools of a virtual agent traits based out of LA's sizzling hot Silicon
Beach? She loves relocating those to share the beach lifestyle she
cherishes. Just a smile away! Stop dreaming start living!<br />
<br />
Ready to serve all your real estate goals. Silicon Beach cities and greater LA.<br />
Questions? I'm here to help. Love to connect. Buying/Selling/Leasing/Investing.<br />
Venice Beach/Santa Monica/West LA/Playa Vista/ Playa Del Rey/ Manhattan Beach<br />
Relocation clients are my specialty. I love to travel so making friends along the way is so rewarding.<br />
<br />
Sandra Lew<br />
Associate Broker<br />
Re/Max Estate Properties<br />
DRE#01920376<br />
<br />
Cell: 310-963-1623<br />
sandy@sandralew.com<br />
<br />
Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com3tag:blogger.com,1999:blog-5630305341456459380.post-36812340182212740742018-12-02T15:43:00.001-08:002018-12-02T15:43:58.156-08:00The Property Brothers Predict Gen Z Will Be Over Tiny Homes, TooThe next generation of homebuyers are smart and value quality lifestyles focused on their unique needs. This should follow technology enhanced homes designed with convenience and versatility rather than just a mcmansion with loads of wasted space. The Gen Z know what they want and are more discriminating than previous generations. This is a great housing trend and will be fun to watch unravel with new homes for the coming years. <br />
<br />
<br />
<br />
The Property Brothers Predict Gen Z Will Be Over Tiny Homes, Too<br />
<br />
<img alt="" height="258" src="https://cdn.apartmenttherapy.info/image/fetch/f_auto,q_auto,w_398,c_fit,fl_strip_profile/https://s3.amazonaws.com/pixtruder/original_images/43d2a56b52642f2f28cccb70396ad568a4b15425" width="320" /><br />
By Lisa Steelman, Nov. 13, 2018<br />
<br />
<br />
If millennials are a confusing demographic, wait until Gen Z grows up a
little bit. I've read a couple of head-scratching studies predicting
their intro into the real estate market—one predicted that 83 percent of Gen Z planned to purchase a home within the next five years, and another said
that the group is twice as likely to start saving for a home by age
25—even when only about 18 percent are expecting family financial
assistance for the big purchase. As someone with a brother six years
younger than me, I know firsthand that the kids in college right now are
bound to live a very different life than I am now. But these numbers
are somewhat baffling to me—considering I am 26 and still don't think
I'll be able to buy a home in the next five years.<br />
<br />
Trying to make sense of this, I turned to the only people I know who
bought their first home at 18—Drew and Jonathan Scott, also known as
(The Property Brothers)! I caught up with the brothers at an event at
Pinterest headquarters in New York City, where they were promoting their
new partnership with Chase and the group's Dream Board tool. We were discussing the foibles of millennial home financing (so-so credit scores!), when I asked them to predict what might be coming up for the up-and-coming generation.<br />
<br />
If you're a fan of the Scotts, you probably know that the pair are <em>not</em> fans of the tiny living phenomenon. A night spent in a tiny home last year
only solidified that for the brothers, who have critiqued how the homes
are not only ill-designed but also are rarely are up to code. So
imagine my surprise when they said that they think this trend will play
into a large part of the Gen Z home buying experience.<br />
<br />
While the generation won't be cramming themselves into tiny just for
the sake of tiny and might be stepping away from the Airstreams and
250-square-foot trailers, they will be seeking out incredibly well-laid
out, smaller spaces that force residents to live more intentionally—a
direct contrast to the McMansions of their parents. This goes
hand-in-hand with the Realtor.com study that found 61 percent of Gen Z are driven to homeownership because of its customization opportunities.<br />
<br />
"It's more streamlined living instead of giant spaces filled with a
bunch of stuff you don't really need," Drew said. He also pointed that
as technology advances, living in a smaller space becomes easier because
it can become multifunctional. So it's no wonder Gen Z digital natives
are looking to test the theory out.<br />
<br />
Additionally, the brothers predict that homeownership for Gen Z will
also just look entirely different than ever before. For my generation
and the ones before me, the single family home was the holy grail. But
Gen Z is now more likely to look outside the box for diverse investment
opportunities—vacation rentals, multifamily units, or even an accessory dwelling unit in a family member's back yard.<br />
<br />
Drew and Jonathan also think that Gen Zers will likely team up when
investing in real estate—just like they did. "We think it's great to
partner with somebody to buy a home whether it's a family member,
spouse, or a friend even," Jonathan said. "Be open to what opportunities
arise and then make the decision."<br />
<br />
Who knows? After speaking with the Pro Bros, partnering with my own bro seems like it may be a good homeownership option!<br />
<br />
Source: https://www.apartmenttherapy.com/property-brothers-tiny-house-gen-z-prediction-264372 <br />
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Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com1tag:blogger.com,1999:blog-5630305341456459380.post-7511203290711078142018-09-24T10:46:00.003-07:002018-09-24T10:46:44.768-07:00The Exceptional Public Access Plan for the Ballona Wetlands <br />
<br />
<br />
The Ballona Wetlands near the heart of Silicon beach is an ecological
reserve treasure. The bordering cities are Marina Del Rey, Playa Del
Rey, Culver City, Westchester and Playa Vista. This new project is
personal and exciting! Finally 600 more acres of beautiful nature with
easy access for bicyclists, pedestrians, and handicapped to enjoy with
less impact while preserving the natural beauty. This give us a safer
alternative to getting out of our cars and be able to have easy access
to local communities. This state proposal creates 6 miles of new foot
trails and nearly 4 miles of bike paths and will create the second
largest nature habitat in the City of LA! Yay!<br />
<br />
<br />
<h1>
The Exceptional Public Access Plan for the Ballona Wetlands </h1>
<h2 class="h4">
The State's Proposed Restoration creates 6 Miles of New
Foot Trails and nearly 4 Miles of Bike Paths, all Accessible from
Multiple Points</h2>
<div class="clearfix summary-additional">
<span class="h6">By David W. Kay, <span class="text-neutral">Patch Contributor</span> | <time datetime="2018-09-17 15:12:04">Sep 17, 2018 3:12 pm ET</time> | Updated <time datetime="2018-09-21 10:19:49">Sep 21, 2018 10:19 am ET</time></span></div>
<div class="clearfix summary-additional">
<span class="h6"><time datetime="2018-09-21 10:19:49"> </time></span></div>
<div class="clearfix summary-additional">
<span class="h6"><time datetime="2018-09-21 10:19:49"><img alt="The Exceptional Public Access Plan for the Ballona Wetlands-0" class="img-responsive article-slideshow-image" data-pseudo-sizes="" data-pseudo-srcset="" height="240" src="https://cdn20.patchcdn.com/users/2365528/20180917/030740/styles/T800x600/public/processed_images/gateway_2-1537211048-6613.jpg" style="opacity: 1;" width="320" /> </time></span><div class="flag-fb-like-wrapper air-xs-t">
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<strong>Did you know California's Ballona Wetlands Restoration
Project will create the second-largest natural habitat recreational area
in the City of Los Angeles, second only to Griffith Park?</strong>
Indeed, it will become the "Great Park" of coastal Los Angeles, but few
people are talking about this 600-acre recreational jewel.<br />
<br />
People
most intimately familiar with the Ballona Wetlands Ecological Reserve
tend to focus on the wildlife benefits of the state's coming restoration
project. As a member of Los Angeles' community of environmental
professionals, I've often questioned supporters and peers about why they
shy away from touting the <em>public access and recreational benefits</em>
of this fantastic "undevelopment" project.<br />
<br />
My sense from them is that
many restoration advocates, particularly naturalists, view public access
as a risky proposition for wildlife, if not well-regulated. In my
opinion, these fears are unfounded and in fact, public access at
recently completed large wetland restorations proves otherwise (1,2,3).<br />
When completed, the proposed Ballona Wetlands Restoration Project (Link
4) will create nearly 6 miles of new pedestrian-only trails, including
approximately 2,000 feet of elevated boardwalks to allow visitors to
walk next to the wetlands and get close-up wildlife views. Trails would
have native plants on either side where possible, and include signs and
resting points with seating. The boardwalks will be specially designed
to accommodate disabled persons. Just not that into wildlife? Then just
come and have a picnic, read a book, or paint a canvas.<br />
<br />
<br /> <br />
<figure><img class="" data-image="2365528-1537211212" height="249" src="https://cdn20.patchcdn.com/users/2365528/20180917/030650/styles/raw/public/processed_images/Multi-Trail-1537211210-4399.jpg" width="320" /></figure><br />
<h1>
<span style="font-size: small;"><span style="font-weight: normal;">Two east-west bike paths, instead of the current single one on the north
Ballona Creek levee, would connect with the Coastal bike path at the
Beach – one north and one south of Ballona Creek. Also, we'll get a
brand new bike and pedestrian bridge over Ballona Creek next to Lincoln
Boulevard, separated from car traffic, so folks who live south of the
creek will no longer have to navigate the hair-raising Lincoln Blvd. car
bridge to access the bike paths. See the entire trails plan view below.
Right click on the image to open in a new tab and see the details.</span></span></h1>
<h1>
<span style="font-size: small;"><span style="font-weight: normal;"><img alt="https://cdn20.patchcdn.com/users/2365528/20180917/030721/styles/raw/public/processed_images/Trails%20Plan-1537211241-5607.jpg" height="193" src="https://cdn20.patchcdn.com/users/2365528/20180917/030721/styles/raw/public/processed_images/Trails%20Plan-1537211241-5607.jpg" width="320" /> </span></span></h1>
<h1>
<span style="font-size: small;"><span style="font-weight: normal;"></span><span style="font-weight: normal;">Fenced overlooks along paths and trails will provide views and
information about the Ballona Reserve (see figure below). Overlooks
would include informational and directional signage in some locations.
Benches to accommodate small groups also would be included in some
locations (for your picnic).</span></span></h1>
Three monument signs will be built at critical street intersections
to identify the Ballona Reserve to passing vehicles, cyclists, or by
pedestrians. The signs would be placed on the southwest corner of
Lincoln Boulevard and Fiji Way, the northwest corner of Culver Boulevard
and SR-90 off ramp, and on Culver Boulevard, north of Nicholson Street.<br />
<figure><img class="" data-image="2365528-1537211351" height="195" src="https://cdn20.patchcdn.com/users/2365528/20180917/030910/styles/raw/public/processed_images/Gateway 2-1537211350-3788.jpg" width="320" /></figure>Five
areas in the Reserve would give visitors close-up opportunities to
learn more about wetlands habitat, animals, and the larger watershed
system. Educational art pieces may be included as well. Sitting and
picnic areas, trash receptacles and bathroom facilities will be provided
at the main entrance point. Parking will be located in a few areas, but
mainly where county vehicles currently park on Fiji Way. Access would
only be allowed from dawn to dusk.<br />
Since state law allows only <em>well-regulated</em>
access to Ecological Reserves, most of the Ballona Reserve is presently
not accessible except via guided tours conducted by a few non-profit
organizations. This will all change with the state's project, which
allows the public to freely travel a broad network of established trails
and paths, but prohibits any off-trail access. Rangers on patrol will
ensure folks stay on trails, keep dogs on leash and follow other rules
and regulations customarily established for natural areas. <br />
<figure><img class="" data-image="2365528-1537211378" height="240" src="https://cdn20.patchcdn.com/users/2365528/20180917/030936/styles/raw/public/processed_images/Calabasas-20140710-00146-1537211376-7074.jpg" width="320" /></figure><strong>Above Photo: Public trail at the Malibu Lagoon Restoration Project.</strong><br />
Scores
of coastal wetlands have already been restored in California, pursuant
to the Coastal Act and funded by bond measures repeatedly approved by
voters. At most of these sites, well-regulated trails and paths replaced
old "social trails" which the public had worn into the landscape in a
helter-skelter fashion.<br />
<figure><img class="" data-image="2365528-1537211431" height="211" src="https://cdn20.patchcdn.com/users/2365528/20180917/031030/styles/raw/public/processed_images/Social Trails Via Marina-1537211430-7697.jpg" width="320" /></figure><strong>Above Photo: Unregulated "helter-skelter" social trails in the Ballona Reserve, Near Via Marina.</strong><br />
Many
studies showed these social trails potentially impacted wildlife, but
the impacts were eliminated once fenced, signed and properly maintained
trails were provided as replacements. Even absent ranger patrols, people
tended to police each other in wildlife areas, studies show. During
sensitive breeding periods, some trails are temporarily detoured to
protect wildlife at critical times. This will be the case at Ballona as
well.<br />
<figure><img class="" data-image="2365528-1537211499" height="240" src="https://cdn20.patchcdn.com/users/2365528/20180917/031137/styles/raw/public/processed_images/JPA Trail-1537211497-6615.jpg" width="320" /></figure><strong>Above Photo: Elevated boardwalk at the San Dieguito Wetlands Restoration, near Del Mar.</strong><br />
<strong></strong>If
you look forward to the recreational benefits of the Ballona Project,
it's important to let your elected representatives know. Don't let a
vocal minority speak for you! Send an e-mail to L.A. City Councilman
Mike Bonin at mike.bonin@lacity.org, and tell Mike you <em>"support approval of the state's plan to restore Ballona to a full tidal wetland, including proposed public access." </em>Councilman Bonin will represent our interests on the state's proposed restoration plan.<br />
Look
forward to packing the kids or dogs in the car on a Sunday morning and
having a nice picnic walk at the "Great Park." Enjoy your Ballona
Wetlands!<br />
<br />
Source: https://patch.com/california/venice/exceptional-public-access-plan-ballona-wetlands <br />
<h1>
<span style="font-size: small;"><span style="font-weight: normal;"> </span></span></h1>
Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com1tag:blogger.com,1999:blog-5630305341456459380.post-25382393326319945912018-09-17T14:18:00.000-07:002018-09-17T14:18:54.523-07:00POCKET LISTING ALERT - New off market deal in Marina Del Rey luxury living by the beach<div class="separator" style="clear: both; text-align: center;">
<a href="https://1.bp.blogspot.com/-KBpN43GGihU/W6AX3xzR9RI/AAAAAAAAAXI/rsVfrJ4PJpwKhxee4p457bJWGy00PqkowCLcBGAs/s1600/3111_Via_Dolce_505.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1584" data-original-width="1224" height="320" src="https://1.bp.blogspot.com/-KBpN43GGihU/W6AX3xzR9RI/AAAAAAAAAXI/rsVfrJ4PJpwKhxee4p457bJWGy00PqkowCLcBGAs/s320/3111_Via_Dolce_505.jpg" width="247" /></a></div>
My hot new "Pocket Listing" off market luxury condo for sale.<br />
Offered at $1,500,000. 2 master suites + 2 1/2 baths.<br />
Approx. 1420 sqft. Luxury designer condo. View by appt. <br />
3111 Via Dolce, #505, Marina Del Rey, CA 90292<br />
<br />
5th Floor Location: Ultimate stunning designer sought after Latitude 33
Sky Edition offers the urban beach lifestyle with full conceirge. Ocean
breezes situated next to the historic Venice Canals and walking
distance from Venice Pier & beach, the trendy Abbot Kinney shopping
& dining, and nightlife of Marina Del Rey/Venice. Located in the
heart of LA's Silicon Beach scene. South facing with wall to ceiling
windows boasting city and obstructed ocean views complete this home.
Loads of natural light floods the open floor plan. Impressive chef's
kitchen is complete with a Sub Zero frig & Wolf appliances for
coastal living pampering that pleases the most discerning tastes.
Gorgeous hardwood floors. The luxurious master suite features a walk in
closet fit for a shopaholic. Guest ensuite features large walk in
shower. Bonus area for dining or den. Inside laundry area with storage
room. Fitness center onsite included in HOA.<br />
<br />
Contact me for more details.<br />
Sandra Lew<br />
CalBRE# 01920376 <br />
sandy@sandralew.com<br />
Cell: 310-963-1623Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com1tag:blogger.com,1999:blog-5630305341456459380.post-34888075272833643212018-09-17T14:05:00.000-07:002018-09-17T14:26:05.772-07:00A decade after the housing crisis, a new story emerges<span class="image" data-attrib="Provided by CBS Interactive Inc." data-caption="" data-id="92" data-m="{"i":92,"p":91,"n":"openModal","t":"articleImages","o":1}" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"></span>Interesting to keep up with the housing market a decade after the housing bust back in 2008. Ten years later has it recovered? Are we in a bubble again? States like CA have recovered with Northern California's Silicon Valley leading the pack with a 74% increase over the previous real estate bubble. Location matters most when buying real estate. Urban areas with sustainable economies fair the best in the long run. According to Trulia there was a 53% gain in 100 of the largest metropolitan areas. In contrast rural areas continue to stagnate at only a 28% gain. Silicon Valley and Denver had the largest gains. Las Vegas, Chicago and Orlando are still 14-16% below their levels before the pre-crisis financial bust. Population growth increases with robust job opportunities for urban centers in contrast to declining rural areas which are seeing migrations and stagnate growth. This is true also in Silicon Beach area's Playa Vista the tech hub center of Los Angeles fueling a higher demand along with rising housing prices. The housing market is doing well in our golden state of California.<br />
<br />
I'm a real estate broker associate with Re/Max Estate properties based out of Marina Del Rey/Venice Beach the epic center of LA's silicon beach and loving serving the community with all their real estate needs. Feel free to connect with me with any questions. Thinking about buying or selling in the area? I'm here to assist as I cherish the beach lifestyle. Relocating so many to the area is so rewarding.<br />
<br />
Sandra Lew -CalBRE # 01920376<br />
Sandy@SandraLew.com<br />
Cell: 310-963-1623<br />
Broker Associate<br />
Re/Max Estate Properties<br />
124 Washington Blvd.<br />
Marina Del Rey, CA 90292<br />
<br />
<br />
<br />
CBS News by Rachael Layne<br />
<br />
<img alt="a close up of a map" class="loaded" data-src="{"default":{"load":"default","w":"80","h":"67","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BBNmyFW.img?h=1332&w=1598&m=6&q=60&o=f&l=f"},"dpi":2,"size3column":{"load":"default","w":"62","h":"52","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BBNmyFW.img?h=1040&w=1248&m=6&q=60&o=f&l=f"},"size2column":{"load":"default","w":"62","h":"52","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BBNmyFW.img?h=1040&w=1248&m=6&q=60&o=f&l=f"}}" height="265" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/BBNmyFW.img?h=1332&w=1598&m=6&q=60&o=f&l=f" width="320" /><br />
<br />
As many as 10 million Americans are believed to have lost their homes
because of the financial crisis that erupted a decade ago, according to
the St. Louis Federal Reserve. The crisis wiped out almost $8 trillion
in household stock-related wealth and $6 trillion in home value after
banks, mortgage lenders and financial companies provided loans to
speculators, house flippers and people who couldn't afford to pay,
spinning the economy into the worst financial disaster since the Great
Depression.A decade later, how does the U.S. housing market look?<br />
<br />
<b>Homeownership is below pre-crisis levels</b><br />
At
the end of June, roughly 64 percent of homes were owner-occupied,
according to statistics from the St. Louis Fed. That's below the
historic highs of 2004, four years before the bankruptcy of Lehman Brothers,
widely used to mark the acceleration of the crisis. The current
homeownership rate represents a slight increase from the 2016 low of 63
percent. The gain may signal that Wall Street is trading more mortgages
as the Federal Reserve raises interest rates and lawmakers ease some of
the post-crisis regulations on banks.<br />
<span class="storyimage fullwidth inlineimage" data-aop="image"><span class="caption truncate"><span class="attribution"><br /></span></span></span><b>Fewer young adults and minorities own homes </b><br />
Between 2004 and 2016, overall homeownership rates plummeted 8 percent, according to a study from the Pew Research Center. Demographics also changed.<br />
Younger
Americans felt the impact more than older homeowners. For adults
between 25 to 44, the homeownership rate dropped 16 percent. And for
adults younger than 35, the rate plunged 18 percent.<br />
<br />
A decade later, it's clear the crisis delayed a traditional marker for adulthood -- homeownership -- for a greater number of young people.<br />
<span class="storyimage fullwidth inlineimage" data-aop="image"><span class="image" data-attrib="Provided by CBS Interactive Inc." data-caption="" data-id="93" data-m="{"i":93,"p":91,"n":"openModal","t":"articleImages","o":2}"></span><span class="caption truncate"><span class="attribution"><br /></span></span></span>"The
typical household head is older now – age 51 today vs. 45 in 1994," the
researchers wrote. "Older households tend to be more likely to own
their homes than younger households, and thus today's homeownership rate
is being propped up, in part, by an aging America." The crash is still
being felt more keenly by non-white groups as well. Black households,
for instance, also now own homes at a rate that's 16 percent lower, at
41 percent. That compared with ownership of white households at 72
percent, just a 5 percent slip in the same time period, according to the
Pew study.<br />
Prices are up, but are rising even faster in cities<br />
<br />
If
you live in a city, chances are real estate is now more expensive than
in rural areas. Migration to cities is helping to drive the increase,
according to a recent study from real estate website Trulia.<br />
<br />
<span class="storyimage fullwidth inlineimage" data-aop="image"><span class="image" data-attrib="Provided by CBS Interactive Inc." data-caption="" data-id="94" data-m="{"i":94,"p":91,"n":"openModal","t":"articleImages","o":3}"></span><span class="caption truncate"><span class="attribution"></span></span></span>In
the five years ending mid-2018, home values in the 100 biggest
metropolitan areas rose 53 percent, according to Trulia. That's double
the gain in rural areas, where property values rose 28 percent, the
study found. The difference "between some of the largest metro areas and
rural America is especially stark—many metros have seen robust growth
in jobs and home prices, while many rural areas have stagnated," wrote
Felipe Chacón, a housing economist for Trulia, in the report. "This
divergence has boosted demand for housing in the nation's cities,
fueling rapid rises in home prices.<br />
<br />
<b>A population shift to those urban areas is contributing </b><br />
From
2012 to 2017, the U.S. population grew 3.7 percent. But in the 100
biggest metro areas, it expanded 4.8 percent. In rural areas, the
population dipped 1 percent, the Trulia study found. Even among the
urban areas, some cities are far more expensive than others. In Silicon
Valley, the area around San Jose, California, the current median home is
worth $1.29 million, statistics released this week by
real estate search company Zillow showed. That's 74 percent higher than
the top of the real estate bubble and more than double from its
post-crisis low. Denver was next on the list of increases, with a value
of $397,800. That represents a 66 percent rise.<br />
<br />
Contrast that
with Las Vegas, where values are still 16 percent below their
pre-financial crisis level. Orlando and Chicago homes remain almost 14
percent below their pre-crisis values, according to Zillow.<br />
<br />
<b>Rising interest rates are also helping tap the breaks </b><br />
The
Federal Reserve has already raised interest rates twice this year, and
is expected to hike them twice more to keep the economy -- and the
housing market -- from overheating. "While housing affordability is
still running above longer-term historical levels, rising prices and
interest rates have taken some steam out of demand," Deutsche Bank
economists wrote in an August note looking at the housing market. <br />
<br />
<br />
Source: https://www.msn.com/en-us/money/markets/a-decade-after-the-housing-crash-a-new-story-emerges/ar-BBNmvzr?li=BBnbfcL Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com1tag:blogger.com,1999:blog-5630305341456459380.post-7740837295174162462018-08-21T18:39:00.000-07:002018-08-21T18:50:47.954-07:00<div class="separator" style="clear: both; text-align: center;">
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Prestigious Latitude 33 SKY condo<br />
3111 Via Dolce #404<br />
Marina Del Rey, CA 90292<br />
USA<br />
<br />
2 Bedrooms + Den, 3 Bathrooms approx. 1830 sqft.<br />
2 Assigned parking spaces in community garage<br />
Offered at $1,675,000 <br />
Urban lifestyle at the beach in Southern California<br />
<br />
(steps to the Venice Pier and Beach located next to the historic Venice canals in the heart of LA's area dubbed Silicon Beach) <br />
<br />
Ultimate stunning designer sought after rare Latitude 33 Sky Edition
offers the urban lifestyle with full conceirge. Ocean breezes situated
next to the historic Venice Canals and walking distance from Venice Pier
& beach, the trendy Abbot Kinney shopping & dining, and
nightlife of Marina Del Rey/Venice. Located in the heart of the Silicon
Beach scene. Southeast corner unit with wall to ceiling windows boasting
city and mountain views complete this masterpiece. Loads of natural
light floods the open air space. Impressive chef's kitchen is complete
with a Sub Zero frig & Wolf appliances for coastal living pampering
that pleases the most discerning tastes. Gorgeous hardwood plank floors.
Two ensuite bedrooms with full baths on either end provide maximum
privacy. The luxurious master suite features a walk in closet fit for a
shopaholic. Huge den could easily be used as a 3rd bedroom. Inside
laundry area with storage. Beach lifestyle you deserve among the clouds.
CA dreaming redefined.<br />
<br />
Contact Listing Agent for more details and private showing. <br />
<br />
Sandra Lew - Re/Max Estate Properties<br />
CalBRE#01920376<br />
<br />
Cell: 310-963-1623<br />
Sandy@SandraLew.com<br />
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<br />Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com1tag:blogger.com,1999:blog-5630305341456459380.post-46961344631282676812018-08-15T10:30:00.001-07:002018-08-15T10:30:03.953-07:003111 Vía Dolce #404, Marina Del Rey CA<iframe allowfullscreen="" frameborder="0" height="270" src="https://www.youtube.com/embed/KvON2MM3qCc" width="480"></iframe>Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com1tag:blogger.com,1999:blog-5630305341456459380.post-38583448314200848652018-08-04T22:20:00.000-07:002018-08-04T22:20:07.604-07:00For Sale: 3111 VIA DOLCE #404, MARINA DEL REY, CA 90292My hot new listing!!!<br />
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Check out my video tour of the ultimate in luxury living at the beach.<div class="separator" style="clear: both; text-align: center;">
</div>
Come get your slice of paradise in this boutique feel residence that eludes success.<br /><br />
<br />
<a href="http://www.imagemaker360.com/161450" target="_blank">http://www.imagemaker360.com/161450</a><br />
<br />
Prestigious Latitude 33 SKY condo<br />
3111 Via Dolce #404<br />
Marina Del Rey, CA 90292<br />
USA<br />
<br />
2 Bedrooms + Den, 3 Bathrooms approx. 1830 sqft.<br />
2 Assigned parking spaces in community garage<br />
Offered at $1,675,000 <br />
Urban lifestyle at the beach in Southern California<br />
<br />
(steps to the Venice Pier and Beach located next to the historic Venice canals in the heart of LA's area dubbed Silicon Beach) <br />
<br />
Ultimate stunning designer sought after rare Latitude 33 Sky Edition
offers the urban lifestyle with full conceirge. Ocean breezes situated
next to the historic Venice Canals and walking distance from Venice Pier
& beach, the trendy Abbot Kinney shopping & dining, and
nightlife of Marina Del Rey/Venice. Located in the heart of the Silicon
Beach scene. Southeast corner unit with wall to ceiling windows boasting
city and mountain views complete this masterpiece. Loads of natural
light floods the open air space. Impressive chef's kitchen is complete
with a Sub Zero frig & Wolf appliances for coastal living pampering
that pleases the most discerning tastes. Gorgeous hardwood plank floors.
Two ensuite bedrooms with full baths on either end provide maximum
privacy. The luxurious master suite features a walk in closet fit for a
shopaholic. Huge den could easily be used as a 3rd bedroom. Inside
laundry area with storage. Beach lifestyle you deserve among the clouds.
CA dreaming redefined.<br />
<br />
Contact Listing Agent for more details and private showing. <br />
<br />
Sandra Lew - Re/Max Estate Properties<br />
CalBRE#01920376<br />
<br />
Cell: 310-963-1623<br />
Sandy@SandraLew.com<br />
<br />
<br />
Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com1tag:blogger.com,1999:blog-5630305341456459380.post-29432462836738012232018-08-01T16:13:00.000-07:002018-08-01T16:14:27.964-07:00<div class="separator" style="clear: both; text-align: center;">
<a href="https://4.bp.blogspot.com/-qqd0tc0Nggg/W2I9IA0xKgI/AAAAAAAAAQ4/DH7YPpyFh3gyW54VYQYPLpAmf-aoHSa3ACLcBGAs/s1600/6220%2BPacific%2BAve%2B301%2BLease%2BFlyer.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1584" data-original-width="1224" height="320" src="https://4.bp.blogspot.com/-qqd0tc0Nggg/W2I9IA0xKgI/AAAAAAAAAQ4/DH7YPpyFh3gyW54VYQYPLpAmf-aoHSa3ACLcBGAs/s320/6220%2BPacific%2BAve%2B301%2BLease%2BFlyer.jpg" width="247" /></a></div>
My hot new listing in Playa Del Rey near LA's dubbed Silicon Beach. Your opportunity to grab your own slice of paradise. Open floor plan and new hardwood floors. Remodeled full baths.<br />
Ocean views, steps to the beach, 3 bedrooms and 3 full baths! Rare top floor penthouse unit next to the Playa Del Rey Lagoon with views of the marina and ocean.<br />
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Feel free to contact me direct at 310-963-1623 call or text. Love to show it to you. Serious inquiries only. Location next to the marina bike path at the end of Pacific.<br />
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6220 Pacific Ave, Unit 301, Playa Del Rey, CA 90293<br />
<br />
Who wants to be my neighbor? Available for lease at $6000/month. Great way to experience the beach lifestyle before you buy!<br />
<br />
Sandra Lew - 310-963-1623 or sandy@sandralew.com<br />
Lic#01920376 Re/Max Estate Properties<br />
<br />Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com1tag:blogger.com,1999:blog-5630305341456459380.post-51193283222265770252018-06-10T20:34:00.000-07:002018-06-10T20:34:21.914-07:00For Silicon Beach homebuyers, a salary’s just a starting point<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
New breed of homebuyers in Silicon Beach. High tech affords creative sources of income and tapping into financial resources not possible in the past. Stock options and crypto are big players to help the new tech professionals afford and be able to boost their purchasing power. This is all leading to a buying freenzy and further driving up demand when inventory of homes are still low. As a local real estate broker with my pulse on the market I'm dedicated to all your real estate needs. I've got the tools to help you navigate the home buying process. As a resident of LA's area dubbed Silicon Beach I know firsthand how frustrating it is to get into bidding wars so let's connect. I'll send you my link to search the MLS (multiple listing service) for up to date information on homes in your area of interest. Love for you to be my neighbor. sandy@sandralew.com<br />
Check out my website: <a href="http://www.sandralew.com/" target="_blank">www.sandralew.com</a> <br />
<br />
<br />
<img alt="" class="size-large wp-image-143091" height="185" src="https://s13.therealdeal.com/trd/la/up/2018/06/Credit-Bird-Pixabay-Money-via-Flickr600-650x377.jpg" width="320" /><br />
<b>For Silicon Beach homebuyers, a salary’s just a starting point</b><br />
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Techies tap stock options and crypto in deal making frenzy.</div>
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By
Alexei Barrionuevo |
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<span class="date updated published"> June 06, 2018 10:00AM</span></div>
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There was a time when buying a first home meant patiently saving
money for several years — or cozying up to mom and dad for the down
payment.<br />
<br />
While those practices remain, a growing number of young buyers in
Silicon Beach are purchasing multimillion-dollar homes by liquidating
stock options — or even cryptocurrency portfolios — in a bid to edge out
the competition and boost their purchasing power.<br />
<br />
And cashing out is not the only way they are doing it.<br />
<br />
Over the past year, big banks have become more open to allowing
buyers to use option grants as a measure of total compensation. That has
allowed buyers who work in tech to shop for far pricier homes than
their salaries alone would allow them to consider, mortgage brokers and
agents say.<br />
<br />
“This is a huge part of how they are able to buy higher-priced
homes,” said James Kay, a private mortgage banker at Wells Fargo in El
Segundo.<br />
<br />
The shifts help explain how Silicon Beach is, in some ways, becoming a
housing economy unto itself, driven by its own particular pools of cash
flowing from the tech industry. The beachy set of Los Angeles
neighborhoods that stretch from Playa del Rey to Santa Monica have seen
overall single-family home sales volume hit $2.3 billion between April
2017 and March 2018, a 69 percent increase from the 12-month period
ending March 2016, according to The Real Deal’s analysis of Redfin data.
The number of sales have also jumped significantly, to 1,133
transactions from 770.<br />
<br />
“This is definitely fueling the market,” said Bianca Mitchell, a
30-year-old agent with Halton Pardee + Partners who lives in Santa
Monica and is engaged to a tech startup executive. “There is no way I
could afford to buy something here unless I had a large infusion of cash
like that.”<br />
“How are you going to get that much cash, that quickly, at our age?,” she added.<br />
<br />
<strong>A wave of new business</strong><br />
Of the five deals Mitchell did this year, she said that all but one
client tapped additional funds from stock options at large tech
companies, or from past startups, to help fund their down payments.<br />
Stephanie Younger, who leads a Silicon Beach-focused team at Compass,
said that buyers used stock-option cash to help fund their purchases in
about 15 percent of the 168 sales her team did last year. Among buyers
35 or younger, more than half tapped option funds, she said.<br />
<br />
Silicon Beach is an outgrowth of Silicon Valley, anchored by
mushrooming extensions of the tech behemoths based up there, including
Google, Facebook and Apple. These firms, and the ecosystem of smaller
companies that are built off them, are taking over millions of square
feet of space in L.A., reshaping the city’s office and residential
markets in the process.<br />
The companies are hiring a steady stream of talent in L.A. from the
Bay Area, Seattle, Texas and New York, many of whom are looking to buy
homes within walking distance of their offices on the West Side, agents
say.<br />
<br />
“The technology cluster in Silicon Beach is immense,” said Younger.
“We are seeing much more activity from media tech, advertising tech, and
companies like Tesla, SpaceX.”<br />
<br />
Playa Vista, with its long row of tightly clustered apartments,
condos and detached homes feeding off of Jefferson Boulevard, is
considered the epicenter of the growing tech zone. Developer Brookfield
Residential shifted from building smaller condos in the area to larger
detached homes, some of which have sold for more than $4 million.<br />
<br />
Facebook and Google have rented massive spaces in Playa Vista for expansions, with Google set this fall to take over the former Howard Hughes airplane hanger, dubbed the Spruce Goose.<br />
<br />
Neighborhoods like Mar Vista, some four miles from Playa Vista, were
considered affordable just five years ago. Now, the bedroom community of
mostly single-family homes has become a magnet for tech executives with
families.<br />
<br />
Earlier this year, Halton Pardee responded to the uptick in business
by opening a new office that straddles Culver City and Mar Vista, said
Tami Pardee, CEO of the firm, who sold a four-bedroom, five-bath home
last year in Mar Vista for $3.7 million.<br />
<br />
With 25 buyer’s agents and five listing agents working the area,
Halton Pardee is the most active firm in Silicon Beach, agents and
mortgage brokers say. Younger’s 13-person Compass team is in second
place.<br />
<br />
Driving the activity are the high salaries tech companies are paying,
generally ranging from $150,000 to $350,000, agents say, and the
ballooning rents in the area. The median rental price for a one-bedroom
apartment in the Marina del Rey/Playa Vista neighborhoods, was $2,900
this February, up 15 percent from 2015, according to Zumper.<br />
<br />
“People are starting to see the value in owning a condo that is $1
million versus paying $5,000 in rent,” said Tamara Mattox, an agent with
Halton Pardee who did 20 transactions in Silicon Beach last year,
mostly to tech buyers. “Most of these guys have the income to
comfortably support any purchase under $2 million. The people that are
buying in excess of that have had to cash out a significant amount.”<br />
<br />
<strong>Crypto and Stock Options Boosting Sales for Younger Buyers</strong><br />
This wouldn’t be a true techie haven without cryptocurrency making a cameo.<br />
Agents like Mattox, a Bitcoin investor herself, have built almost
mini-practices around referrals from other crypto evangelists who are
looking for ways to turn their profits into a pad.<br />
<br />
Last year one of her clients, who had bought Bitcoin when it was $200
per coin, used a portion of his $150,000 profit for a down payment on a
$1.6 million, three-bedroom home in Venice. To create the necessary
liquidity, Mattox steered him to Robinhood, a third-party platform where
investors can convert to dollars for a modest fee.<br />
<br />
Kris Zacuto, an agent at Hilton & Hyland marketing homes in Playa
Vista, said he has been surprised by how open Silicon Beach buyers are
about their source of wealth, “walking around with million-dollar crypto
portfolios.”<br />
<br />
But the use of cryptocurrency in real estate is still in the crawling
phase, as many brokerages and escrow companies are not yet equipped —
or trusting enough — of the monetary instruments to treat them as income
or assets.<br />
<br />
Buyers also need to be careful to liquidate their portfolios into
dollars further out than 60 days, said Jonathan O’Donnell, a loan
officer at PERL Mortgage in Santa Monica. Any less time and banks may
not treat the funds as verified assets. O’Donnell said that some
crypto-holders, frustrated at the bank’s rules, have simply elected to
convert to dollars and then buy properties in cash.<br />
<br />
More common in Silicon Beach has been the use of liquidated stock
options to fund purchases, with some buyers using restricted-stock units
to extend their buying power.<br />
<br />
Where banks once shunned stock options from public companies, they
now seem more open to considering them as additional income, provided
buyers can show they have had the stock for at least two years and will
continue to receive shares as part of their compensation, mortgage
brokers said. Banks value the shares based on the average share price
for the last year.<br />
<br />
The changes allow them to out-muscle lawyers and other professionals
working primarily with a salary. Tech buyers, even with median salaries
averaging $240,000 at companies like Facebook, “were at a disadvantage
previously,” O’Donnell said.<br />
<br />
“They had all this income coming in and the banks were ignoring half
of it,” he added. “Now they are getting what they deserve. They feel
finally banks are willing to see this for what it is; it is part of
their compensation.”<br />
<br />
Banks that have adjusted their stance on the stock awards include
Union Bank, Bank of America, Wells Fargo, Chase and Luther Burbank
Savings, O’Donnell said.<br />
<br />
Kay, the mortgage banker, said Wells Fargo has adopted a “more
conservative” stance on how it qualifies restricted stock units as
income, compared to more “liberal interpretations” from banks based in
Silicon Valley. But he said that “in certain circumstances, yes, we can
use that as income to help them qualify for a higher purchase price.”<br />
<br />
In one recent case, an employee of a dating app company was able to
qualify for a $1.4 million home in Silicon Beach this year on a base
salary of $120,000. Originally, his salary was only enough for him to
buy a $750,000 home. But with nearly 19,000 vested shares from 2016 and
2017 he was able to boost his income, in the eyes of lenders, by an
additional $237,000, to more than $357,000 in total income, according to
someone familiar with the deal.<br />
<br />
Mortgage brokers worry that banks could adjust their view on the
stock awards again in light of companies like Snap, where shares prices
fell considerably after the company went public last year, potentially
putting some options underwater and future income in doubt. “Does that
buyer look the same now?” O’Donnell said.<br />
<br />
Kay agreed, noting that lenders that approved loans for Snap
employees meant that “you just gave a loan to somebody based on income
that is probably going to go down.<br />
<br />
“For that reason we are extra-conservative,” he said. “We look at it on a case-by-case basis.”<br />
<br />
Source: https://therealdeal.com/la/2018/06/06/for-silicon-beach-homebuyers-a-salarys-just-a-starting-point/ <br />
<br />
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<span class="date updated published"> </span></div>
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<span class="date updated published"> </span></div>
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<span class="date updated published"> </span>
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Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com1tag:blogger.com,1999:blog-5630305341456459380.post-31494351506217693012018-02-23T09:22:00.001-08:002018-02-23T09:26:14.116-08:00HOT NEW LEASE LISTING - LATITUDE 33 SKY EDITION LUXURY CONDO IN MARINA DEL REY<div class="separator" style="clear: both; text-align: center;">
<a href="https://2.bp.blogspot.com/-JQehs4Tjcf4/WpBMl7sD6sI/AAAAAAAAAQQ/gdRKdxTwp3I7xUlXOpKWxVI_PPpZI9qzACLcBGAs/s1600/Latitude_33_flyer_for_lease.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1584" data-original-width="1224" height="320" src="https://2.bp.blogspot.com/-JQehs4Tjcf4/WpBMl7sD6sI/AAAAAAAAAQQ/gdRKdxTwp3I7xUlXOpKWxVI_PPpZI9qzACLcBGAs/s320/Latitude_33_flyer_for_lease.jpg" width="247" /></a></div>
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<span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">HOT NEW LEASE LISTING:</span></div>
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<span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Latitude 33 Sky Edition luxury building- Marina Del Rey, CA</span></div>
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<span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Fully Furnished 2 Bedrooms, 2 1/2 Baths with stunning ocean and panoramic views</span></div>
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<span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">$6300/Month - short term considered for min. 3-6 mos. Security Deposit $10,000</span></div>
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<span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Offering the California dreaming lifestyle you deserve. </span></div>
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<span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Ultimate stunning designer fully
furnished coveted rare Latitude 33 Sky Edition condo offers ocean and panoramic
views. Ocean breezes situated next to the historic Venice Canals and walking
distance from Venice Beach & Pier, the chic Abbot Kinney shopping & trendy
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the Silicon Beach scene. Southern exposure wall to ceiling windows with
unobstructed views of the ocean complete this masterpiece. Loads of natural
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chef’s kitchen is complete with a Sub Zero refrigerator & Wolf appliances for coastal living pampering that pleases
the most discerning tastes. Gorgeous hardwood plank floors. This one has it
all.</span></div>
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<span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Two ensuite bedrooms with full baths on
either end provide maximum privacy. The luxurious master suite has a large
custom walk in closet fit for a shopaholic. <span style="mso-spacerun: yes;"> </span>Inside laundry room with storage for designed
comfort living. Personalized concierge care, 2 car secured garage parking, bicycle
storage, fitness center, and a security access controlled building. The beach
lifestyle you deserve among the clouds that eludes success on this 6<sup>th</sup>
floor paradise. California dreaming redefined. Go ahead and spoil yourself, you
deserve it. </span></div>
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Available fully furnished beginning mid-March.<span style="mso-spacerun: yes;"> </span>Tenant occupied. Call LA1 for appt to view. Sandy
Lew 310-963-1623. Showings (10am-5pm only by appt).<span style="mso-spacerun: yes;"> </span></div>
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<br />Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com3tag:blogger.com,1999:blog-5630305341456459380.post-28925339107804190692018-02-06T16:54:00.001-08:002018-02-06T16:54:41.633-08:00Benefits of home ownership. <div class="separator" style="clear: both; text-align: center;">
<a href="https://3.bp.blogspot.com/-w45vy8uoj94/WnpNWkN0jlI/AAAAAAAAAP0/_uU4Sw_xywUfA8zsmIWVDv4U-vCkFx_owCLcBGAs/s1600/Road-Map-74633.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="975" data-original-width="1269" height="245" src="https://3.bp.blogspot.com/-w45vy8uoj94/WnpNWkN0jlI/AAAAAAAAAP0/_uU4Sw_xywUfA8zsmIWVDv4U-vCkFx_owCLcBGAs/s320/Road-Map-74633.png" width="320" /></a></div>
Benefits of home ownership are not just bragging rights. Whether you are buying or selling is this the right time for you? Feel free to contact me for a complimentary private consultation. Love to assist you with your specific real estate needs. Call or email me direct 310-963-1623. Sandy@sandralew.com. Love to meet you. I specialize in the area dubbed Silicon Beach in LA with roots growing up in Silicon Valley. I love the California lifestyle and love sharing it with others.<br />
Relocating from either ends of the state? Just want to learn about different neighborhoods? Feel free to connect. =)Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com2tag:blogger.com,1999:blog-5630305341456459380.post-51939225298079307552017-11-11T23:44:00.002-08:002017-11-11T23:44:20.350-08:00Silicon Beach leads the latest surge in home sale growth in L.A<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
The area in LA dubbed "Silicon Beach" home prices are still surging! Housing market around these parts remain hot especially in Playa Vista the tech hub. The neighboring communities of Venice Beach, Marina Del Rey, West LA's Sawtelle with trendy eateries, and Playa Del Rey are all hot areas in great demand. With so much new development in the area and great lifestyle more people want to live in these communities. As a local real estate broker in the area dedicated to your real estate needs feel free to connect with me. I love this area so happy to connect with you for all your questions. I cherish the beach lifestyle and sharing it with others. Sandy Lew 310-963-1623 <a href="http://www.sandralew.com/" target="_blank">www.sandralew.com</a><br />
<br />
<img alt="Silicon Beach leads the latest surge in home sale growth in L.A." class="full-width" height="180" src="http://beta.latimes.com/resizer/6c58UBJVDiWruVUs9v2GDJqi40w=/1400x0/arc-anglerfish-arc2-prod-tronc.s3.amazonaws.com/public/W72YPXDFWBGKVCK4LRHYIT3QWI.jpg" width="320" /><u> </u><br />
<u>Silicon Beach leads the latest surge in home sale growth in L.A.</u><br />
<div class="byline-timestamp-container flex-container-row flex-tablet-column flex-mobile-column align-items-center">
<div class="byline-wrapper flex-container-row">
<span class="byline">By <span class="uppercase">Jack Flemming</span> </span> <span class="spaced spaced-right spaced-md hidden-mobile"></span> </div>
<div class="timestamp-location-wrapper flex-container-row flex-mobile-column align-items-center">
<div class="timestamp-wrapper ">
<span class="timestamp "> Nov 03, 2017 </span> <span class="timestamp spaced spaced-sm spaced-left spaced-right">|</span> <span class="timestamp "> 6:15 AM </span> </div>
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<span class="sharebar align-right flex"></span><span class="sharebar align-right flex"></span><span class="sharebar align-right flex"></span> <span class="sharebar align-right flex"></span><div class="card collection-item " data-type="text">
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Temperatures may finally be cooling off across Los Angeles, but the same can't be said for the housing market.</div>
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<div class="card-content">
Following
a record-breaking quarter that saw median sales prices in L.A. County
hit a decade high, and the average days on market near a decade low,
real estate markets, particularly on the Westside, have remained
white-hot.<br />
<br />
</div>
</div>
<div class="card collection-item " data-type="raw_html">
<div class="card-content">
In July, August and September, the booming tech hub of Playa Vista
saw a 317% increase in sales volume for single-family home sales over
the same period last year, according to a survey by the Combined L.A.
Westside MLS.<br />
<br />
</div>
</div>
Neighboring
communities have also benefited from rapid growth in the area. Venice
saw a 10% increase in sales volume last quarter over last year; West Los
Angeles, which includes Sawtelle-Japantown, increased 89%; and Playa
del Rey saw an uptick of 52%.<br />
<br />
"Tech
companies such as Facebook and Google have moved to these areas, and
many employees of these companies are looking for homes near their
offices," said MLS CEO Annie Ives.<br />
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And don't expect things to cool anytime soon.<br />
<br />
</div>
</div>
<div class="card collection-item " data-type="text">
<div class="card-content">
"Venice
is getting more and more expensive, which is pushing people to move to
Marina del Rey, where you get more for your money," real estate agent
Denise Fast said.<br />
<br />
<div class="card collection-item " data-type="text">
<div class="card-content">
In Marina del Rey, 47 home sales during the quarter combined for $72.666 million in sales volume, an increase of 119%.<br />
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<div class="card collection-item " data-type="text">
<div class="card-content">
Fast
said that an influx of development near the harbor, such as new
restaurants, hotels and entertainment, are also attracting people to
purchase homes in Oxford Triangle and the surrounding areas.<br />
<br />
</div>
</div>
<div class="card collection-item " data-type="text">
<div class="card-content">
Central neighborhoods also continued to trend upward.<br />
<br />
</div>
</div>
<div class="card collection-item " data-type="text">
<div class="card-content">
Ladera
Heights showed an 81% increase in sales volume based on 21 sales. South
Inglewood increased 37% based on 25 home sales in Q3.<br />
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</div>
</div>
<div class="card collection-item " data-type="text">
<div class="card-content">
Across
the county, there were 2,688 single-family-home sales during the
quarter. In addition, 36 neighborhoods experienced home sale growth,
whereas 15 experienced a decline.<br />
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Those numbers are nearly on par with the previous quarter, which had 2,813 homes sold and growth in 39 neighborhoods.<br />
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<div class="card-content">
"2017
definitely started out strong for the L.A. market, but it may slow down
in terms of sales volume in upcoming months," Ives said. "That said,
median prices for single-family homes in Southern California will likely
continue to rise due to the limited inventory."<br />
<br />
Source: http://beta.latimes.com/business/realestate/hot-property/la-fi-hp-mls-market-climate-map-20171104-story.html#nt=oft09a-2gp1 <br />
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Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com2tag:blogger.com,1999:blog-5630305341456459380.post-47184630008511143512017-09-19T18:55:00.001-07:002017-09-19T18:55:31.342-07:00Southern California home prices jump again. Lots of residents worry about affordability<h1 class="trb_ar_hl_t" itemprop="headline">
<span style="font-weight: normal;"><span style="font-size: small;">The Southern California real estate market continues to be driven by simple economics of supply and demand. With demand outpacing supply home prices are continuing to surge upwards. With low inventory there were fewer sales. The homes sold are often higher priced with bidding wars a common occurrence for well priced homes. The housing market is still rebounding from the height of the housing market in 2007. The rebound is due to an improving economy, historically low mortgage rates and shortage of homes available for sale. Definitely a sellers market with prices still increasing in the near future as demand continues to outpace supply. </span></span></h1>
<h1 class="trb_ar_hl_t" itemprop="headline">
<span style="font-size: small;"><u>Southern California home prices jump again. Lots of residents worry about affordability</u></span></h1>
<div class="trb_ar_by">
<figure class="trb_ar_by_i_f"></figure><span class="trb_ar_by_nm_pm"><span class="trb_ar_by_nm_au" data-byline-withoutby="">By: Jim Puzzanghera </span><span class="trb_ar_by_b"></span>Contact Reporter - September 19. 2017</span></div>
<div class="trb_ar_by">
<br /><span class="trb_ar_by_nm_pm">The Southern California real estate market continued to
sizzle in August as home prices jumped 7.5% from a year earlier,
reinforcing new poll results showing widespread concern about the
state’s housing affordability.</span></div>
<div class="trb_ar_by">
<span class="trb_ar_by_nm_pm"> </span>Across the six-county
region, the median price increased to $500,000 from $465,000 a year
earlier, though down slightly from $502,000 in July, according to a
report Tuesday from data firm CoreLogic.<br />
<br />
In Los Angeles County, the median price surged 9.4% to a record $580,000. The previous record of $575,000 was set in July.<br />
<br />
It
was the best August for home sales since 2006. Total sales in Southern
California were up 3.2% year over year and surged 13.3% from a sluggish
July, CoreLogic said.<br />
<br />
<aside class="trb_ar_sponsoredmod" data-adloader-networktype="nativo" data-load-method="trb.vendor.nativo.init" data-load-type="method" data-v-ntidd="1069557" data-withinviewport-options="bottomOffset=100"></aside>The
August home price for the six-county region was just below the all-time
high of $505,000 reached in 2007 at the height of the housing bubble.
The market began collapsing soon thereafter.<br />
But it’s
been rebounding for the last six years, fueled by a slowly improving
economy, historically low mortgage rates and a shortage of homes for
sale.<br />
<br />
“The market’s just chugging along,” said Tregg
Rustad, estates director for Rodeo Realty in Beverly Hills. He and his
partner sold 10 houses in August — half were at or above the list price
and the rest were very close to it.<br />
<br />
“Buyers are taking
advantage of some of the lowest interest rates we’ve had in the last
year. The economy is continuing to improve and the stock market and
financial sector is up, so confidence is up,” Rustad said. “And I think
sellers are taking advantage of record prices and low inventory.”<br />
<br />
<aside class="trb_ar_sponsoredmod" data-adloader-networktype="yieldmo" data-load-method="trb.vendor.yieldmo.init" data-load-type="method" data-role="delayload_item" data-v-ymid="ym_1606464552242100545" data-withinviewport-options="bottomOffset=100">
</aside>Home
prices in the region can’t keep rising 7% a year and will probably
moderate to between 3% and 5% annually for the foreseeable future, said
Richard Green, director of the USC Lusk Center for Real Estate.<br />
<br />
“Unless
there’s some existential event like a nuclear missile hurled in our
direction,” he said, “I don’t know why prices are going to fall any time
soon.”<br />
<br />
Los Angeles County is short about 100,000 housing
units right now and needs to be adding between 30,000 and 35,000 a year
to keep up with growing demand, Green said. But only about 25,000 units
are being built annually, meaning the county is falling further behind,
he said.<br />
<br />
This is different than the housing bubble,
which was fueled by real estate speculation, Green said. Now it’s a
simple case of low supply and high demand in an area that is attracting
more upper-income workers, he said.<br />
<br />
Andrew LePage, a
research analyst at CoreLogic, said inventory is particularly tight for
homes in the lower price ranges and demand for those more affordable
units remains strong.<br />
“The result is somewhat higher price gains in many of the region’s more affordable communities,” LePage said.<br />
<br />
The
median price — the point where half the homes and condos sold for more
and half for less — rose 12.5% in San Bernardino County to $315,000,
the report said.<br />
<br />
Median prices rose 7.7% in Riverside
County to $365,000; 7.4% in San Diego County to $535,000; 6% in Ventura
County to $567,000; and 5.5% in Orange County to $685,000.<br />
<br />
The
report came as a new statewide poll showed nearly half of the state’s
voters — 48% — described housing affordability in their area as
“extremely serious.”<br />
<br />
The figure was 42% for respondents from Los Angeles County and 65% for those in the San Francisco Bay Area.<br />
<br />
The
survey of 1,200 registered voters this summer by the Institute of
Governmental Studies at UC Berkeley also found that 56% of voters
considered moving to find more affordable housing, with 25% saying that
they would most likely choose to leave the state.<br />
<br />
Nearly
six in 10 Los Angeles County voters — 59% — said they considered moving
out of the area because of rising housing costs, the poll found. In the
Bay Area, the figure was 51%.<br />
The poll showed 51% of registered voters support a measure on the 2018 state ballot to spend more money on affordable housing.<br />
<br />
Last month, Gov. Jerry Brown and legislative leaders agreed to
a $4-billion bond proposal to be put on next year’s ballot that would
fund low-income housing developments and subsidize mortgages for
California veterans.<br />
<br />
Source: http://www.latimes.com/business/la-fi-home-prices-20170919-story.html<br />
<br />
</div>
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<h4 class="trb_ar_hl_t" itemprop="headline">
<span style="font-weight: normal;"> </span></h4>
Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com3tag:blogger.com,1999:blog-5630305341456459380.post-55476667671155781332017-08-13T22:17:00.002-07:002017-08-13T22:17:57.129-07:00Trend: Venice Beach Homes Now Selling for More Per Square Foot Than Bel Air or Beverly Hills<h1 class="post-header__title">
<span style="font-size: small;"><span style="font-weight: normal;">Silicon beach prices are still rising. Pure economics supply and demand driving the market. Average per square foot is a whooping $1440 which is even costlier than Beverly Hills. Silicon Beach is the tech hub and as it continues to expand real estate prices will most likely increase even more. The coastal lifestyle by the beach which includes Venice Beach, Marina Del Rey, and Playa Vista are the most desirable areas to buy in all of LA. Hard to beat the main attraction of life at the beach.</span></span></h1>
<h1 class="post-header__title">
<span style="font-size: small;"><span style="font-weight: normal;"></span><u></u><span style="font-weight: normal;">Looking to live here too? Or how much would it take for you to sell? Feel free to contact me directly at 310-963-1623 or sandy@sandralew.com</span></span></h1>
<h1 class="post-header__title">
<span style="font-size: small;"><u>Trend: Venice Beach Homes Now Selling for More Per Square Foot Than Bel Air or Beverly Hills</u></span></h1>
<h2 class="post-header__dek">
<span style="font-weight: normal;"><span style="font-size: small;">It’s a seller’s market; homes in Venice Beach are selling for an average of $1,440 per square foot.</span></span></h2>
<h2 class="post-header__dek">
<span style="font-size: small;"> <span class="post-meta__author">By Alexandria Abramian on August 5, 2017 </span></span></h2>
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<span style="font-size: small;"><span class="post-meta__author"><img alt="Venice Beach" class="attachment-featured-image-1000x563" height="180" src="https://robbreportedit.files.wordpress.com/2017/08/venice-beach-1.jpg?w=1000" width="320" /> </span></span></h2>
While homes in Bel Air and Beverly Hills may garner the highest price
tags in the Los Angeles area, it turns out that the comparatively
sleepy Venice Beach
is making headlines of its own. The small beach village has recently
moved to the front of the pack when it comes to per-square-foot real
estate prices.<br />
<br />
The latest numbers from Trulia reveal that the median value of a home
in Venice is now clocking in at $1,440 per square foot—well ahead of
Beverly Hills, which comes in at $1,049 per square foot. And Bel Air?
At $778 per square foot, Venice beats it handily.<br />
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That’s not to say it’s an apples-to-apples comparison, of course.
While homes in Bel Air and Beverly Hills are often 20,000 square feet
and above, Venice features much more modestly apportioned residences
under 3,000 square feet.<br />
<br />
Nevertheless, it’s a compelling testament to the once-boho
neighborhood that’s now proving to be one of Southern California’s
priciest areas per square foot. Since 2012, the median price of
one-bedroom homes have increased by roughly 54-percent in Venice.
Fueling the stunning rise in real estate values in Venice and the
surrounding areas is the emergence of Silicon Beach, a growing
concentration of high-flying tech and media companies that call the area
home.<br />
<br />
“Venice was once just tiny lots with little cottages,” says designer
and builder Kim Gordon, who has built eight homes in the area in the
past three years purchased by both tech executives and music-industry
moguls. “Tech people are now descending here, and they want larger homes
where they can live and work and do everything,” she says. Gordon’s
latest home, a 3,500-square-foot compound, sold for $5 million (just
over $1,428 per square foot).<br />
<br />
Other recent sales have closed at even higher prices, including a
7,500-square-foot eco-compound (with 5,000 square feet of interior
space) made famous on the television series <em>Californification</em>.
Designed in 1995 by architect David Hertz, the home sold in April for
$14.6 million, the highest price ever paid in Venice and one that
garnered a $2,900-per-square-foot price—something virtually unheard of
in Bel Air and Beverly Hills.<br />
<br />
Real estate experts say the tech-centric Venice juggernaut is also
extending into neighboring communities, as well. Playa Vista—the
creative community that’s home to Yahoo, YouTube, and soon Google—has
recently seen a significant increase in property values. Newly completed
neighborhoods include Jewel, a collection of 14 4,500-square-foot,
single-family homes selling from around $3 million to $5 million. The
neighborhood features three-story single-family homes ranging from 4,200
– 4,500 square feet.<br />
<br />
Even more recently completed is the Collection, a series of
tech-centric homes and the very first community in Los Angeles to offer
Apple HomeKit technology as standard in all residences.<br />
“Venice, Marina del Rey, and Playa Vista comprise the main hub of
Silicon Beach, which is one of the most desired areas to buy in all of
L.A.,” says Justin Alexander, director of sales at Halton Pardee &
Partners. “Although you don’t get the grandeur of Beverly Hills and Bel
Air, these communities provide an array of lifestyles from all around
the world, creating a truly unique vibe that can’t be replicated
anywhere else in L.A.”<br />
<br />
As Silicon Beach continues to expand, prices in Venice Beach are sure
to increase—driven not only by demand but by the desire to live near
one of L.A.’s primary attractions: the beach.<br />
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Source: http://robbreport.com/shelter/spaces/venice-beach-homes-selling-for-more-than-beverly-hills-2725984/ <br />
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Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com2tag:blogger.com,1999:blog-5630305341456459380.post-77382536248144000482017-07-18T22:06:00.000-07:002017-07-18T22:06:28.105-07:00Foreigners are buying US residential real estate at a record clip<h1 class="Lh(36px) Fz(25px)--sm Fz(32px) Mb(17px)--sm Mb(20px) Mb(30px)--lg Ff($ff-primary) Lts($lspacing-md) Fw($fweight) Fsm($fsmoothing) Fsmw($fsmoothing) Fsmm($fsmoothing) Wow(bw)" data-reactid="3" itemprop="headline">
<span style="font-size: small;"><span style="font-weight: normal;">The foreign US residential housing market is still growing with a 49% jump compared to last year. United States is seen as a safe haven place to live, work and invest. 44% of all foreign transactions were all-cash as well further driving up the housing prices due to lack of continued inventory. Even with the strong dollar foreigners are willing to pay a bit more to invest in the US. </span></span><span style="font-weight: 400;"><br /></span></h1>
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<u><span style="font-size: small;">Foreigners are buying US residential real estate at a record clip</span></u></h1>
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<img alt="" class="slideshow-image Maw(100%) Mah(100%) M(a) W(a) StretchedBox" height="194" src="https://s.yimg.com/ny/api/res/1.2/XkTb7QNC9QJ.HY5YDQEv_w--/YXBwaWQ9aGlnaGxhbmRlcjtzbT0xO3c9NzQ0O2g9NDUy/http://media.zenfs.com/en/homerun/feed_manager_auto_publish_494/dc9a827ffe9f8328215823a40a01ec6d" width="320" /> <span style="font-weight: normal;"><span style="font-size: x-small;">Source: National Association of Realtors</span></span> </h1>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="A tumultuous political environment isn’t scaring international buyers from investing in US residential real estate." data-reactid="31" type="text">
A tumultuous political environment isn’t scaring international buyers from investing in US residential real estate.</div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="A tumultuous political environment isn’t scaring international buyers from investing in US residential real estate." data-reactid="31" type="text">
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<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Foreign investment in US residential real estate hit a new high this year, &nbsp;driven by an increase in sales dollar volume from Canadian buyers, according to a </span><a href="https://www.nar.realtor/topics/profile-of-international-home-buying-activity" rel="nofollow noopener" target="_blank"><span style="font-weight:400;">new survey</span></a><span style="font-weight:400;"> by The National Association of Realtors.</span>" data-reactid="32" type="text">
<span style="font-weight: 400;">Foreign
investment in US residential real estate hit a new high this year,
driven by an increase in sales dollar volume from Canadian buyers,
according to a </span><span style="font-weight: 400;">new survey</span><span style="font-weight: 400;"> by The National Association of Realtors.</span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Foreign investment in US residential real estate hit a new high this year, &nbsp;driven by an increase in sales dollar volume from Canadian buyers, according to a </span><a href="https://www.nar.realtor/topics/profile-of-international-home-buying-activity" rel="nofollow noopener" target="_blank"><span style="font-weight:400;">new survey</span></a><span style="font-weight:400;"> by The National Association of Realtors.</span>" data-reactid="32" type="text">
<br /></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="Foreign buyers and recent immigrants bought $153 billion of residential property, which represents a 49% jump from last year." data-reactid="33" type="text">
Foreign buyers and recent immigrants bought $153 billion of residential property, which represents a 49% jump from last year.</div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="Foreign buyers and recent immigrants bought $153 billion of residential property, which represents a 49% jump from last year." data-reactid="33" type="text">
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<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">“The political and economic uncertainty both here and abroad did not deter foreigners from exponentially ramping up their purchases of U.S. property over the past year,” said Lawrence Yun, NAR chief economist.</span>" data-reactid="54" type="text">
<span style="font-weight: 400;">“The
political and economic uncertainty both here and abroad did not deter
foreigners from exponentially ramping up their purchases of U.S.
property over the past year,” said Lawrence Yun, NAR chief economist.</span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">“The political and economic uncertainty both here and abroad did not deter foreigners from exponentially ramping up their purchases of U.S. property over the past year,” said Lawrence Yun, NAR chief economist.</span>" data-reactid="54" type="text">
<br /></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">And despite a relatively strong dollar, foreigners are willing to pay a bit more to invest in the US, he said.</span>" data-reactid="55" type="text">
<span style="font-weight: 400;">And despite a relatively strong dollar, foreigners are willing to pay a bit more to invest in the US, he said.</span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">And despite a relatively strong dollar, foreigners are willing to pay a bit more to invest in the US, he said.</span>" data-reactid="55" type="text">
<br /></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">“While the strengthening of the U.S. dollar in relation to other currencies and steadfast home-price growth made buying a home more expensive in many areas, foreigners increasingly acted on their beliefs that the U.S. is a safe and secure place to live, work and invest.”</span>" data-reactid="56" type="text">
<span style="font-weight: 400;">“While
the strengthening of the U.S. dollar in relation to other currencies
and steadfast home-price growth made buying a home more expensive in
many areas, foreigners increasingly acted on their beliefs that the U.S.
is a safe and secure place to live, work and invest.”</span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">“While the strengthening of the U.S. dollar in relation to other currencies and steadfast home-price growth made buying a home more expensive in many areas, foreigners increasingly acted on their beliefs that the U.S. is a safe and secure place to live, work and invest.”</span>" data-reactid="56" type="text">
<br /></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Foreign investors paid, on average, $302,290, a 9% increase from the median sales price last year. Ten percent of international buyers paid over $1 million, with 44% of transactions all-cash purchases.</span>" data-reactid="57" type="text">
<span style="font-weight: 400;">Foreign
investors paid, on average, $302,290, a 9% increase from the median
sales price last year. Ten percent of international buyers paid over $1
million, with 44% of transactions all-cash purchases.</span></div>
<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<b>Canadian interest</b>" data-reactid="58" type="text">
<b>Canadian interest</b></h2>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">The survey reveals that </span><a href="https://finance.yahoo.com/news/china-just-overtook-canada-as-the-largest-foreign-buyer-of-us-residential-real-estate-123021379.html"><span style="font-weight:400;">China is still No. 1</span></a><span style="font-weight:400;"> in terms of sales dollar volume, but the overall boost in activity came from Canadian buyers. </span>" data-reactid="59" type="text">
<span style="font-weight: 400;">The survey reveals that </span><span style="font-weight: 400;">China is still No. 1</span><span style="font-weight: 400;"> in terms of sales dollar volume, but the overall boost in activity came from Canadian buyers. </span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">The survey reveals that </span><a href="https://finance.yahoo.com/news/china-just-overtook-canada-as-the-largest-foreign-buyer-of-us-residential-real-estate-123021379.html"><span style="font-weight:400;">China is still No. 1</span></a><span style="font-weight:400;"> in terms of sales dollar volume, but the overall boost in activity came from Canadian buyers. </span>" data-reactid="59" type="text">
<br /></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Transactions from Canadians this year more than doubled from last year, reaching $19 billion – a new high for Canada.</span>" data-reactid="60" type="text">
<span style="font-weight: 400;">Transactions from Canadians this year more than doubled from last year, reaching $19 billion – a new high for Canada.</span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Transactions from Canadians this year more than doubled from last year, reaching $19 billion – a new high for Canada.</span>" data-reactid="60" type="text">
<br /></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Canadians are finding that US markets though expensive are actually more affordable than in their home country. Though home prices have been steadily rising, gains across Canada have been steeper, especially in Vancouver and Toronto, according to Yun.</span>" data-reactid="61" type="text">
<span style="font-weight: 400;">Canadians
are finding that US markets though expensive are actually more
affordable than in their home country. Though home prices have been
steadily rising, gains across Canada have been steeper, especially in
Vancouver and Toronto, according to Yun.</span></div>
<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<b>Which countries top the list?</b>" data-reactid="62" type="text">
<b>Which countries top the list?</b></h2>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Chinese investors purchased $31.7 billion this year, up from $27.3 billion last year and $28.6 in 2015. Buyers from China also bought the most residential units for the third consecutive year. </span>" data-reactid="63" type="text">
<span style="font-weight: 400;">Chinese
investors purchased $31.7 billion this year, up from $27.3 billion last
year and $28.6 in 2015. Buyers from China also bought the most
residential units for the third consecutive year. </span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Chinese investors purchased $31.7 billion this year, up from $27.3 billion last year and $28.6 in 2015. Buyers from China also bought the most residential units for the third consecutive year. </span>" data-reactid="63" type="text">
<br /></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">The top five countries in terms of sales dollar volume after China are Canada, the UK, Mexico and India — all saw increases from last year’s levels.</span>" data-reactid="64" type="text">
<span style="font-weight: 400;">The
top five countries in terms of sales dollar volume after China are
Canada, the UK, Mexico and India — all saw increases from last year’s
levels.</span></div>
<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<b>Where are foreign investors buying?</b>" data-reactid="65" type="text">
<b>Where are foreign investors buying?</b></h2>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Mirroring the 2016 survey, investors focused on three states — Florida (22%), California (12%) and Texas (12%). New Jersey and Arizona round out the top five destinations for foreign buyers.</span>" data-reactid="66" type="text">
<span style="font-weight: 400;">Mirroring
the 2016 survey, investors focused on three states — Florida (22%),
California (12%) and Texas (12%). New Jersey and Arizona round out the
top five destinations for foreign buyers.</span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Mirroring the 2016 survey, investors focused on three states — Florida (22%), California (12%) and Texas (12%). New Jersey and Arizona round out the top five destinations for foreign buyers.</span>" data-reactid="66" type="text">
<br /></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">While Florida was the most popular state for Canadian buyers, California was the favorite among Chinese and Mexicans preferred to purchase property in Texas.</span>" data-reactid="67" type="text">
<span style="font-weight: 400;">While
Florida was the most popular state for Canadian buyers, California was
the favorite among Chinese and Mexicans preferred to purchase property
in Texas.</span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">While Florida was the most popular state for Canadian buyers, California was the favorite among Chinese and Mexicans preferred to purchase property in Texas.</span>" data-reactid="67" type="text">
<br /></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Though this survey reveals that foreigners are buying at robust levels, headwinds like the shortage of homes for sale could end up denting sales activity, according to Yun.</span>" data-reactid="68" type="text">
<span style="font-weight: 400;">Though
this survey reveals that foreigners are buying at robust levels,
headwinds like the shortage of homes for sale could end up denting sales
activity, according to Yun.</span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Though this survey reveals that foreigners are buying at robust levels, headwinds like the shortage of homes for sale could end up denting sales activity, according to Yun.</span>" data-reactid="68" type="text">
<br /></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">“Stricter foreign government regulations and the current uncertainty on policy surrounding U.S. immigration and international trade policy could very well lead to a slowdown in foreign investment,” he said.</span>" data-reactid="69" type="text">
<span style="font-weight: 400;">“Stricter
foreign government regulations and the current uncertainty on policy
surrounding U.S. immigration and international trade policy could very
well lead to a slowdown in foreign investment,” he said.</span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">“Stricter foreign government regulations and the current uncertainty on policy surrounding U.S. immigration and international trade policy could very well lead to a slowdown in foreign investment,” he said.</span>" data-reactid="69" type="text">
<br /></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">“Stricter foreign government regulations and the current uncertainty on policy surrounding U.S. immigration and international trade policy could very well lead to a slowdown in foreign investment,” he said.</span>" data-reactid="69" type="text">
<span style="font-weight: 400;">Source: https://finance.yahoo.com/news/foreigners-buying-us-residential-real-estate-record-clip-140825003.html </span></div>
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Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com2tag:blogger.com,1999:blog-5630305341456459380.post-74284556159247509442017-07-13T07:15:00.000-07:002017-07-13T07:15:18.208-07:00Who’s making all-cash offers on houses in LA?<h1 class="c-page-title">
<span style="font-weight: normal;"><span style="font-size: small;">Yep, it's true! There are still so many all cash offers in LA. I'm seeing it firsthand so far this year representing so many clients up against multiple offers on so many properties. The competition has been fierce in my personal experience. Parents or rich uncles and family buying for their children to give them a head start in life. I feel this is one of the richest generations with the aging baby boomers. I'm seeing the starter homes in affluent homes being much nicer than in the past with modern amenities and location being the key factor. This generation of folks desire proximity to everyday conveniences and want to be close to the city center of local restaurants.</span></span></h1>
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<span style="font-weight: normal;"><span style="font-size: small;">Let me know if you have a home to sell as there is huge shortage of homes. It's still a seller's market and I have clients ready to buy. If you're looking to buy I'll help you be prepared to face the competition. Finding out what is important to the seller is important as sometimes it's not necessary just the price. Multiple offers... bring it on with me you will have a real chance. Feel free to contact me for a real estate consultation. Love to help you with your real estate needs. Call me Sandy Lew at 310-963-1623. My website:<a href="http://www.sandralew.com/" target="_blank">www.sandralew.com</a></span></span></h1>
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<span style="font-weight: normal;"><span style="font-size: small;"> </span></span></h1>
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<u><span style="font-size: small;"> Who’s making all-cash offers on houses in LA?</span></u></h1>
<h2 class="c-entry-summary p-dek">
<span style="font-size: x-small;">Last month, cash purchases made up 20 percent of all real estate transactions</span></h2>
<div class="c-byline">
by
<span class="c-byline__item">
Bianca Barragan
</span>
<time class="c-byline__item" data-ui="timestamp">
Jul 12, 2017, 3:25pm PDT </time></div>
<div class="c-byline">
<time class="c-byline__item" data-ui="timestamp"> </time></div>
<div class="c-byline">
<time class="c-byline__item" data-ui="timestamp"><img height="213" src="https://cdn.vox-cdn.com/thumbor/9Me0XR0oa-J87mfx8zm_jpjm2ac=/0x0:3008x2000/1200x800/filters:focal%281264x760:1744x1240%29/cdn.vox-cdn.com/uploads/chorus_image/image/55684661/3292905087_015f1574f4_o.0.jpg" width="320" /> </time></div>
<h2 class="c-entry-summary p-dek">
<span style="font-size: x-small;"> </span></h2>
<div id="ubfJEx">
As sales prices for Los Angeles homes continue their solid recovery from the recession, the profile of all-cash homebuyers has changed. </div>
<div id="ubfJEx">
<br /></div>
<div class="m-ad m-ad__mobile_leaderboard">
</div>
<div id="Y6QtWO">
In the wake of the recession, foreign and domestic
investors made up a good chunk of cash-only buyers in LA. All-cash sales
are still happening fairly frequently—last month, 20 percent of all
real estate transactions in Southern California were all-cash, Geoff
McIntosh, president of the California Association of Realtors, tells KPCC—but the days of investors snapping up homes passed four or five years ago, says McIntosh.</div>
<div id="Y6QtWO">
<br /></div>
<div id="KgOnQQ">
Who are these buyers making all-cash home purchases? KPCC
reports that one dominant group is the children of wealthy parents.
"They're going to mom and dad and saying, 'We really want to buy
something and would love it if you give us the money,'" McIntosh tells
the radio news station.</div>
<div id="KgOnQQ">
<br /></div>
<div id="wIrrRA">
Another is tech industry employees, Richard Green,
director of the USC Lusk Center for Real Estate, tells KPCC. He says
these workers are often paid well and are offered stock options that
they can sell when the company goes public, leaving them with money to
put toward a house. </div>
<div id="wIrrRA">
<br /></div>
<div id="wIrrRA">
Source: https://la.curbed.com/2017/7/12/15961814/all-cash-home-sales-rich-kids-tech-workers </div>
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Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com1tag:blogger.com,1999:blog-5630305341456459380.post-71671068119696096092017-06-16T13:11:00.000-07:002017-06-16T13:11:29.823-07:00Higher prices squeezing both renters and would-be owners <h1 class="hascount" itemprop="headline">
<span style="font-size: small;"><span style="font-weight: normal;">Visit <u><a href="http://www.sandralew.com/" target="_blank">www.sandralew.com</a></u></span></span></h1>
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<span style="font-size: small;"><span style="font-weight: normal;">Housing continues to be limited in supply this spring season with prices continuing to rise. There is hope though as homeownership rates are stabilizing rather than declining. Thinking of selling or buying a home? Renting vs. Owning? I have the tools to help you make the right decision to fit your specific needs. Feel free to let me know your real estate needs. <b><br /></b></span></span></h1>
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<span style="font-size: large;"><span style="font-weight: normal;"><u>Higher prices squeezing both renters and would-be owners </u></span></span></h1>
<article class="articlecontent loaded" data-aop="article" itemscope="" itemtype="http://schema.org/NewsArticle" tabindex="0">
<section class="articlebody" data-aop="articlebody" itemprop="articleBody">
<span>A diminished supply of available homes is swelling prices in
large U.S. metro areas from New York to Miami to Los Angeles, squeezing
out would-be buyers and pushing up rents as more people are forced to
remain tenants.<br />
<br />
The trend is pressuring Americans' budgets, with about one-third of
households spending more than 30 percent of their gross income on
housing as of 2015, according to a report being released Friday by Harvard University's Joint Center for Housing Studies.<br />
<br />
Homeownership
rates have stagnated in part because high rents have made it difficult
for many prospective buyers to amass a down payment for a house.<br />
<br />
At
the same time, the sparse supply of available properties is benefiting
existing homeowners, many of whose home values have recovered from the
housing bust a decade ago.<br /><br />
The tight supply of homes and a
shortage of affordable rental housing have improved little in recent
years for a variety of reasons. Among the key factors is that
construction has yet to regain the pace of homebuilding that predated
the bust.<br />
<br />
"As the economy continues to recover, as income picks up
as household formations pick up, it's not spurring a supply response,"
said Chris Herbert, managing director of Harvard's Joint Center for
Housing Studies. "It's a worsening of the situation that was evident
last year."<br />
<br />
Here are some major findings documented in the report:<br />
<br />
<strong>HOUSING AFFORDABILITY</strong><br />
<br />
The
government considers people who spend over 30 percent of their income
on housing to be "cost-burdened." Those who spend more than 50 percent
are considered "severely" burdened.<br />
About one-third of households —
38.9 million — were considered cost-burdened in 2015, down from 39.8
million a year earlier. This was the fifth straight annual decline.<br />
<br />
Still,
roughly 16 percent of households, or about 18.8 million, paid more than
half their income on housing. The share of renters paying more than
they can afford varies from city to city. In Miami, it's 35.4 percent.
In El Paso, Texas, it's just 18.4 percent. Other cities where households
were deemed to be cost-burdened include Daytona Beach, Florida;
Riverside, California; and Honolulu.<br />
<br />
Ryan Welch of Santa Monica,
California, is among those feeling stuck between rising rents and home
prices. Welch, 32, pays about $1,500 a month for a rent-controlled
one-bedroom apartment he shares with his wife. That works out to about a
quarter of their monthly income, an affordable portion.<br />
Welch,
who works in advertising sales, would like a bigger place with more
amenities. But he's reluctant to leave their apartment.<br />
<br />
"I'm nervous to move to a place that's not rent-controlled," he said.<br />
Saving
to own a home, something he wants to do, has had to take a back seat to
making payments on student loans and his car, among other expenses.<br />
<br />
"I'd much rather buy, but I can't come up with the down payment," Welch said.<br />
<br />
<strong>HOME SUPPLY AND PRICES</strong><br />
<br />
The
availability of homes for sale has fallen short of demand. Last year,
the typical new home for sale was on the market for just 3.3 months,
according to the report — well below the average of 5.1 months dating to
the 1980s.<br />
<br />
All told, 1.65 million homes were on the market last year, the fewest in 16 years, the report said.<br />
The
supply is worse for lower-priced homes that would be affordable to
typical first-time buyers. Builders have been constructing fewer homes
for that segment of buyers.<br />
<br />
Between 2004 and 2015, construction of
single-family homes of less than 1,800 square feet fell to 136,000 from
nearly 500,000, according to the report.<br />
<br />
The trends helped boost
national home prices 5.6 percent last year, above their housing boom
peak. (Prices remained nearly 15 percent below their peak, when adjusted
for inflation.)<br />
"Builders are starting to turn more attention to
the entry-level market," Herbert said. "My guess is we'll see some
increase in our supply of smaller, more moderate-cost new housing on the
single-family side."<br />
<br />
<strong>WIDENING COST GAP</strong><br />
<br />
One
striking finding in the Harvard report is the gap in home values that's
widened since 2000, well before the market hit its boom-era highs. When
adjusted for inflation, prices in markets along the East and West
coasts have vaulted more than 40 percent since 2000. By contrast, values
in the Midwest and South have declined.<br />
<br />
Among the markets where
prices remain well below their housing-boom peaks: Las Vegas, Chicago,
Detroit and Tampa, Florida. By contrast, home values have risen far
above their previous highs in Denver, San Francisco and Austin, among
other markets.<br />
<br />
"If you go back to, say, 1970 and you look at the
differences in house prices across market areas, they were not nearly as
extreme as they are now," Herbert said. "It's a function of income
inequality and how much the differences in income have grown."<br />
<br />
In addition, regulatory constraints and a shortage of available land limit construction in many areas.<br />
<br />
<strong>RENTAL PRICES AND SUPPLY</strong><br />
<br />
Though
apartment construction surged in the years after the housing bust,
demand for rental housing has grown even more. The rental vacancy rate
fell last year to 6.9 percent, a three-decade low, according to the
Harvard report. That's the seventh straight annual decline.<br />
<br />
Much
of the apartment construction in recent years has been made up of luxury
developments catering to affluent renters rather than to households of
modest means.<br />
<br />
The number of rental units available for under $800
fell by 261,000 between 2005 and 2015, according to the report. By
comparison, the number of units for $2,000 or more climbed by 1.5
million in the same period.<br />
<br />
<strong>HOMEOWNERSHIP RATE</strong><br />
<br />
The
nation's homeownership rate has been falling since peaking around 69
percent in 2004. Last year, it hit 63.4 percent, just above the low set
in 1965. But the rate appears to be stabilizing, according to the
report.<br />
<br />
"Even if it is no longer falling, it's settling in at a rate that's low by historic standards," Herbert said.<br />
The
rate has grown notably worse for African-Americans, the report found.
Homeownership among African-Americans is now at its lowest point since
the 1960s and nearly 30 percentage points below the rate for whites,
Herbert said.<br />
<br />
<strong>HOMEBUILDING UP BUT STILL LOW</strong><br />
<br />
Construction
increased in 2016 for the seventh year in a row, adding 1.17 million
houses and apartments. But that was still the lowest growth rate since
2011, the report noted.<br />
Building of single-family homes has been
rising faster, up 9.4 percent last year to 781,600 units. Even so,
residential construction still trails the 1.4-1.5 million annual rate
that prevailed in the 1980s and 1990s, the report notes.<br />
"We're
still not yet at 1.2 million starts," Herbert said. "Back in the day, it
would have been a bad year during a recession, and we're still trying
to get back up there. We're certainly not back to normal in terms of
supply.<br />
<br />
<br />
Source: http://www.msn.com/en-us/money/realestate/higher-prices-squeezing-both-renters-and-would-be-owners/ar-BBCKxhj?li=BBnbfcN </span></section></article>
Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com2tag:blogger.com,1999:blog-5630305341456459380.post-43259073644611336062017-05-17T14:35:00.002-07:002017-05-17T14:35:36.869-07:00Los Angeles Isn't Silicon Valley, And That's Why Entrepreneurs Love It<h1>
<span style="font-size: small;"><u>My website:<a href="http://www.sandralew.com/" target="_blank">www.sandralew.com</a></u></span></h1>
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<span style="font-weight: normal;"><span style="font-size: small;">Silicon beach is the third largest startup hub in the world behind the SF bay area's Silicon Valley and New York! LA has the most engineering graduates too.</span></span></h1>
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<span style="font-size: small;"><u>Los Angeles Isn't Silicon Valley, And That's Why Entrepreneurs Love It<span class="byline"><span class="vcard author"> </span></span></u></span></h1>
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<span style="font-size: small;"><u><span class="byline"><span class="vcard author"><img alt="640x426-P1.jpg" class="image-none" height="213" src="http://laist.com/attachments/nyc_fnord/640x426-P1.jpg" width="320" /> </span></span></u></span></h1>
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<span style="font-size: small;"><span style="font-weight: normal;"><span class="byline"><abbr class="published" title="May 16, 2017 12:00 am">Sponsor in Arts & Entertainment on May 16, 2017 12:00 am</abbr></span></span><u><br /></u></span></h1>
Entrepreneur Dan Smarg doesn’t mince words: People might like drawing
comparisons between San Francisco and Los Angeles—Silicon Valley versus
Silicon Beach—but if you’re starting a business today, Los Angeles wins
hands down.<br />
<br />
“Silicon Beach is bustling precisely because we are not established, because we have no track record,” says the WeWork Promenade member.<br />
<br />
The entrepreneurs interviewed here agreed that Los Angeles was the
perfect place for them to start a business. That includes Rob Emrich,
whose Santa Monica-based mobile advertising platform, The Mobile Majority, was named the region’s fastest growing tech startup for the second year in a row.<br />
<br />
“When I moved here five years ago, I had been considering San
Francisco, Los Angeles, and New Orleans,” says Emrich. “I feel very
lucky to have landed here.”<br />
<br />
Emrich says L.A.’s tech sector has exploded over the past few years.
It now holds its own in a city known for film and television, music, and
media.<br />
<br />
Here’s a little of what L.A. has going for it:<br />
<br />
A huge startup scene that’s still growing. L.A. is already the third largest startup hub in the world,
behind Silicon Valley and New York. And it’s growing by leaps and
bounds. The $6 billion in funding startups received in 2016 has tripled
over the past four years.<br />
<br />
<span class="mt-enclosure mt-enclosure-image" style="display: inline;"> </span><br />
More engineers than any other city. That’s right, colleges here produce more graduates with engineering degrees than New York or Boston. “There are many top-tier colleges in Southern California,” says WeWork Santa Monica-based
entrepreneur David Baird, “and graduates often want to stay in the
area.” And because the startup scene isn’t so intense, your new engineer
isn’t as likely to be poached after being on the job for a couple of
months.<br />
<br />
There are some things that L.A. still lacks: for starters, there
aren’t as many deep-pocketed investors who can single-handedly fund the
next big startup. But venture capitalists here are more likely to join
together to fund promising companies.<br />
<br />
And one other thing: L.A. may be an expensive city, but San Francisco prices have skyrocketed in the past few years.<br />
<br />
“One of the main reasons we’re in L.A. versus San Francisco or New York is that it’s still affordable to live here,” says WeWork Gas Tower member Gina Pak. “So for a company that’s bootstrapping, that’s a great thing.”<br />
<br />
<i>Source: http://laist.com/2017/05/16/los_angeles_isnt_silicon_valley_and.php</i><br />
<i><br /></i>Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com2tag:blogger.com,1999:blog-5630305341456459380.post-17922657831564360922017-04-12T16:08:00.001-07:002017-04-12T16:26:45.260-07:00Why Silicon Beach will still lure tech talent despite skyrocketing prices<h1 class="Lh(36px) Fz(25px)--sm Fz(32px) Mb(17px)--sm Mb(20px) Mb(30px)--lg Ff($ff-primary) Lts($lspacing-md) Fw($fweight) Fsm($fsmoothing) Fsmw($fsmoothing) Fsmm($fsmoothing) Wow(bw)" data-reactid="4" itemprop="headline">
<span style="font-size: small;">My website: <a href="http://www.sandralew.com/" target="_blank">www.sandralew.com</a></span></h1>
<h1 class="Lh(36px) Fz(25px)--sm Fz(32px) Mb(17px)--sm Mb(20px) Mb(30px)--lg Ff($ff-primary) Lts($lspacing-md) Fw($fweight) Fsm($fsmoothing) Fsmw($fsmoothing) Fsmm($fsmoothing) Wow(bw)" data-reactid="4" itemprop="headline">
<span style="font-size: small;"><span style="font-weight: normal;">Silicon Beach property will be in high demand and continue to be alluring for many reasons as high tech jobs, diversity, mild climate, and better affordability are offered when compared to Silicon Valley's expensive cost of living. Looks like the highly compensated high techies will be here to stay for the long haul. The lifestyle of the Southern California coast is priceless and the ultimate driving force for those that want to live here. </span> </span></h1>
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<span style="font-size: small;"> </span></h1>
<h1 class="Lh(36px) Fz(25px)--sm Fz(32px) Mb(17px)--sm Mb(20px) Mb(30px)--lg Ff($ff-primary) Lts($lspacing-md) Fw($fweight) Fsm($fsmoothing) Fsmw($fsmoothing) Fsmm($fsmoothing) Wow(bw)" data-reactid="4" itemprop="headline">
<span style="font-size: small;"><u>Why Silicon Beach will still lure tech talent despite skyrocketing prices</u></span></h1>
<div class="canvas-body Wow(bw) Cl(start) Mb(20px) Fz(15px) Lh(1.6) C(#26282a) Ff($ff-secondary) D(i)" data-reactid="30">
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<br />
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<br />
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<br />
<figcaption class="C(#787d82) Fz(13px) Py(5px) Lh(1.5)" data-reactid="26" title="Over the last two years, Venice has become one of the priciest neighborhoods in all of Los Angeles, thanks in part to the success of companies headquartered there like Snap."><div class="figure-caption" data-reactid="27">
Over
the last two years, Venice has become one of the priciest neighborhoods
in all of Los Angeles, thanks in part to the success of companies
headquartered there like Snap.</div>
<div class="figure-caption" data-reactid="27">
</div>
</figcaption><br />
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">The new season of HBO’s “Silicon Valley” premieres this month, but the Bay Area tech scene depicted on that show is no longer the only game in town for America’s tech elite.</span>" data-reactid="31" type="text">
<span style="font-weight: 400;">The
new season of HBO’s “Silicon Valley” premieres this month, but the Bay
Area tech scene depicted on that show is no longer the only game in town
for America’s tech elite.</span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">The new season of HBO’s “Silicon Valley” premieres this month, but the Bay Area tech scene depicted on that show is no longer the only game in town for America’s tech elite.</span>" data-reactid="31" type="text">
<br /></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Los Angeles has its own tech hub, dubbed Silicon Beach, <a href="http://finance.yahoo.com/news/silicon-beach-will-still-lure-tech-talent-despite-skyrocketing-prices-165109286.html">a four-mile stretch of beachfront</a> that encompasses Venice and Santa Monica and is home to Snapchat’s parent company, Snap (</span><a href="http://finance.yahoo.com/quote/SNAP/?p=SNAP"><span style="font-weight:400;">SNAP</span></a><span style="font-weight:400;">).</span>" data-reactid="32" type="text">
<span style="font-weight: 400;">Los Angeles has its own tech hub, dubbed Silicon Beach, a four-mile stretch of beachfront that encompasses Venice and Santa Monica and is home to Snapchat’s parent company, Snap (</span><span style="font-weight: 400;">SNAP</span><span style="font-weight: 400;">).</span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">While Silicon Beach real-estate prices may be climbing, especially after Snap’s IPO, there are reasons to believe the technorati will continue to move there in droves. For one thing, Los Angeles still costs less than the Bay Area — at least for now. Silicon Beach also arguably provides a more diverse talent pool and isn’t as wrapped up in the tech bubble as Silicon Valley.</span>" data-reactid="33" type="text">
<span style="font-weight: 400;">While
Silicon Beach real-estate prices may be climbing, especially after
Snap’s IPO, there are reasons to believe the technorati will continue to
move there in droves. For one thing, Los Angeles still costs less than
the Bay Area — at least for now. Silicon Beach also arguably provides a
more diverse talent pool and isn’t as wrapped up in the tech bubble as
Silicon Valley.</span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">While Silicon Beach real-estate prices may be climbing, especially after Snap’s IPO, there are reasons to believe the technorati will continue to move there in droves. For one thing, Los Angeles still costs less than the Bay Area — at least for now. Silicon Beach also arguably provides a more diverse talent pool and isn’t as wrapped up in the tech bubble as Silicon Valley.</span>" data-reactid="33" type="text">
<br /></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">While Silicon Beach real-estate prices may be climbing, especially after Snap’s IPO, there are reasons to believe the technorati will continue to move there in droves. For one thing, Los Angeles still costs less than the Bay Area — at least for now. Silicon Beach also arguably provides a more diverse talent pool and isn’t as wrapped up in the tech bubble as Silicon Valley.</span>" data-reactid="33" type="text">
<br /></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">“I knew the next thing I was going to build was going to be consumer-focused, and I wanted to get out of the San Francisco echo chamber and be surrounded with lots of different types of creative people and just be in a more mainstream place to build this company,” Joe Fernandez, a serial entrepreneur based in Silicon Beach, told Yahoo Finance.</span>" data-reactid="34" type="text">
<span style="font-weight: 400;">“I
knew the next thing I was going to build was going to be
consumer-focused, and I wanted to get out of the San Francisco echo
chamber and be surrounded with lots of different types of creative
people and just be in a more mainstream place to build this company,”
Joe Fernandez, a serial entrepreneur based in Silicon Beach, told Yahoo
Finance.</span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">“I knew the next thing I was going to build was going to be consumer-focused, and I wanted to get out of the San Francisco echo chamber and be surrounded with lots of different types of creative people and just be in a more mainstream place to build this company,” Joe Fernandez, a serial entrepreneur based in Silicon Beach, told Yahoo Finance.</span>" data-reactid="34" type="text">
<br /></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Fernandez added: “I think it’s really easy to get caught up in San Francisco with what every other tech company is up to. You kind of fall into this trap of only building for early adopters. But I really wanted to build something that ‘normal people,’ with no specific interest in tech, would hopefully find value in.”</span>" data-reactid="35" type="text">
<span style="font-weight: 400;">Fernandez
added: “I think it’s really easy to get caught up in San Francisco with
what every other tech company is up to. You kind of fall into this trap
of only building for early adopters. But I really wanted to build
something that ‘normal people,’ with no specific interest in tech, would
hopefully find value in.”</span></div>
<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<b>Skyrocketing real-estate and deep-pocketed techies</b>" data-reactid="36" type="text">
<b>Skyrocketing real-estate and deep-pocketed techies</b></h2>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">According to real estate web site</span><a href="https://www.trulia.com/" rel="nofollow noopener" target="_blank"> <span style="font-weight:400;">Trulia</span></a><span style="font-weight:400;">, the median value of a home in Venice, for instance, where Snap is headquartered, is $1,010 per square foot in 2016 — up sharply from $718 per square foot a decade ago. That’s cheaper than San Francisco, where homes in many desirable neighborhoods easily fetch between</span><a href="https://www.trulia.com/real_estate/San_Francisco-California/market-trends/" rel="nofollow noopener" target="_blank"> <span style="font-weight:400;">$1,100 and $1,300</span></a><span style="font-weight:400;"> per square foot. Still, locals have been </span><a href="https://www.bloomberg.com/news/features/2017-02-23/snap-rankles-venice-neighbors-opposed-to-beachfront-expansion" rel="nofollow noopener" target="_blank"><span style="font-weight:400;">feeling the pain </span></a><span style="font-weight:400;">of rising real estate prices in Silicon Beach and have protested Snapchat’s presence.</span>" data-reactid="37" type="text">
<span style="font-weight: 400;">According to real estate web site</span> <span style="font-weight: 400;">Trulia</span><span style="font-weight: 400;">,
the median value of a home in Venice, for instance, where Snap is
headquartered, is $1,010 per square foot in 2016 — up sharply from $718
per square foot a decade ago. That’s cheaper than San Francisco, where
homes in many desirable neighborhoods easily fetch between</span> <span style="font-weight: 400;">$1,100 and $1,300</span><span style="font-weight: 400;"> per square foot. Still, locals have been </span><span style="font-weight: 400;">feeling the pain </span><span style="font-weight: 400;">of rising real estate prices in Silicon Beach and have protested Snapchat’s presence.</span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">According to real estate web site</span><a href="https://www.trulia.com/" rel="nofollow noopener" target="_blank"> <span style="font-weight:400;">Trulia</span></a><span style="font-weight:400;">, the median value of a home in Venice, for instance, where Snap is headquartered, is $1,010 per square foot in 2016 — up sharply from $718 per square foot a decade ago. That’s cheaper than San Francisco, where homes in many desirable neighborhoods easily fetch between</span><a href="https://www.trulia.com/real_estate/San_Francisco-California/market-trends/" rel="nofollow noopener" target="_blank"> <span style="font-weight:400;">$1,100 and $1,300</span></a><span style="font-weight:400;"> per square foot. Still, locals have been </span><a href="https://www.bloomberg.com/news/features/2017-02-23/snap-rankles-venice-neighbors-opposed-to-beachfront-expansion" rel="nofollow noopener" target="_blank"><span style="font-weight:400;">feeling the pain </span></a><span style="font-weight:400;">of rising real estate prices in Silicon Beach and have protested Snapchat’s presence.</span>" data-reactid="37" type="text">
<br /></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Chalk that up to companies like Snap, Google (</span><a href="http://finance.yahoo.com/quote/GOOG/?p=GOOG"><span style="font-weight:400;">GOOG</span></a><span style="font-weight:400;">,</span><a href="http://finance.yahoo.com/quote/GOOGL/?p=GOOGL"> <span style="font-weight:400;">GOOGL</span></a><span style="font-weight:400;">), Facebook (</span><a href="http://finance.yahoo.com/quote/FB/?p=FB"><span style="font-weight:400;">FB</span></a><span style="font-weight:400;">), and Yahoo (</span><a href="http://finance.yahoo.com/quote/YHOO?p=YHOO"><span style="font-weight:400;">YHOO</span></a><span style="font-weight:400;">) which have opened or moved some of their offices to the Silicon Beach area, which stretches from Santa Monica to the south of Venice. Other neighborhoods in Silicon Beach such as Santa Monica, Playa Vista and Mar Vista are significantly cheaper — but also quickly inching upwards year after year, thanks in large part to the influx of wealthy tech workers.</span>" data-reactid="58" type="text">
<span style="font-weight: 400;">Chalk that up to companies like Snap, Google (</span><span style="font-weight: 400;">GOOG</span><span style="font-weight: 400;">,</span> <span style="font-weight: 400;">GOOGL</span><span style="font-weight: 400;">), Facebook (</span><span style="font-weight: 400;">FB</span><span style="font-weight: 400;">), and Yahoo (</span><span style="font-weight: 400;">YHOO</span><span style="font-weight: 400;">)
which have opened or moved some of their offices to the Silicon Beach
area, which stretches from Santa Monica to the south of Venice. Other
neighborhoods in Silicon Beach such as Santa Monica, Playa Vista and Mar
Vista are significantly cheaper — but also quickly inching upwards year
after year, thanks in large part to the influx of wealthy tech workers.</span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Chalk that up to companies like Snap, Google (</span><a href="http://finance.yahoo.com/quote/GOOG/?p=GOOG"><span style="font-weight:400;">GOOG</span></a><span style="font-weight:400;">,</span><a href="http://finance.yahoo.com/quote/GOOGL/?p=GOOGL"> <span style="font-weight:400;">GOOGL</span></a><span style="font-weight:400;">), Facebook (</span><a href="http://finance.yahoo.com/quote/FB/?p=FB"><span style="font-weight:400;">FB</span></a><span style="font-weight:400;">), and Yahoo (</span><a href="http://finance.yahoo.com/quote/YHOO?p=YHOO"><span style="font-weight:400;">YHOO</span></a><span style="font-weight:400;">) which have opened or moved some of their offices to the Silicon Beach area, which stretches from Santa Monica to the south of Venice. Other neighborhoods in Silicon Beach such as Santa Monica, Playa Vista and Mar Vista are significantly cheaper — but also quickly inching upwards year after year, thanks in large part to the influx of wealthy tech workers.</span>" data-reactid="58" type="text">
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<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">The average tech worker in their mid-20s to early 30s is willing to shell out between $2 million and $3 million on average — sometimes paid upfront in cash — on a new place close to their employer, according to Lee Johnson, a local realtor for</span><a href="http://www.sothebysrealty.com/eng/sales/search?gclid=CLvi6-m-59ICFQ5EfgodZ_sMFQ" rel="nofollow noopener" target="_blank"> <span style="font-weight:400;">Sotheby’s International Realty</span></a><span style="font-weight:400;">. Snap billionaire co-founder and CTO</span><a href="http://finance.yahoo.com/news/bobby-murphy-snapchat-cto-010625845.html"> <span style="font-weight:400;">Bobby Murphy</span></a><span style="font-weight:400;">, for instance,</span><a href="http://la.curbed.com/2013/12/2/10168780/snapchat-cofounder-just-dropped-21mm-on-a-house-in-venice" rel="nofollow noopener" target="_blank"> <span style="font-weight:400;">purchased</span></a> <span style="font-weight:400;">a new $2.1 million home in Venice, Calif., just 11 blocks from Snap’s headquarters.</span>" data-reactid="63" type="text">
<span style="font-weight: 400;">The
average tech worker in their mid-20s to early 30s is willing to shell
out between $2 million and $3 million on average — sometimes paid
upfront in cash — on a new place close to their employer, according to
Lee Johnson, a local realtor for</span> <span style="font-weight: 400;">Sotheby’s International Realty</span><span style="font-weight: 400;">. Snap billionaire co-founder and CTO</span> <span style="font-weight: 400;">Bobby Murphy</span><span style="font-weight: 400;">, for instance,</span> <span style="font-weight: 400;">purchased</span> <span style="font-weight: 400;">a new $2.1 million home in Venice, Calif., just 11 blocks from Snap’s headquarters.</span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">The average tech worker in their mid-20s to early 30s is willing to shell out between $2 million and $3 million on average — sometimes paid upfront in cash — on a new place close to their employer, according to Lee Johnson, a local realtor for</span><a href="http://www.sothebysrealty.com/eng/sales/search?gclid=CLvi6-m-59ICFQ5EfgodZ_sMFQ" rel="nofollow noopener" target="_blank"> <span style="font-weight:400;">Sotheby’s International Realty</span></a><span style="font-weight:400;">. Snap billionaire co-founder and CTO</span><a href="http://finance.yahoo.com/news/bobby-murphy-snapchat-cto-010625845.html"> <span style="font-weight:400;">Bobby Murphy</span></a><span style="font-weight:400;">, for instance,</span><a href="http://la.curbed.com/2013/12/2/10168780/snapchat-cofounder-just-dropped-21mm-on-a-house-in-venice" rel="nofollow noopener" target="_blank"> <span style="font-weight:400;">purchased</span></a> <span style="font-weight:400;">a new $2.1 million home in Venice, Calif., just 11 blocks from Snap’s headquarters.</span>" data-reactid="63" type="text">
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<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">“I don’t see the young techies wanting to drive anymore,” says Johnson, who has helped employees from Snap, Google and several startups find homes. “These young tech kids want to ride their bikes and skateboards to the office and not have to deal with leaving their own community.”</span>" data-reactid="64" type="text">
<span style="font-weight: 400;">“I
don’t see the young techies wanting to drive anymore,” says Johnson,
who has helped employees from Snap, Google and several startups find
homes. “These young tech kids want to ride their bikes and skateboards
to the office and not have to deal with leaving their own community.”</span></div>
<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<b>‘I can’t imagine actually starting a company now in San Francisco’</b>" data-reactid="65" type="text">
<b>‘I can’t imagine actually starting a company now in San Francisco’</b></h2>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Despite the increase in costs, advocates like Fernandez, the serial entrepreneur, contend the LA tech scene has much to offer versus Silicon Valley, its larger, even pricier sibling. Fernandez, who sold the social media scoring startup Klout</span><a href="http://fortune.com/2014/03/26/klout-acquired-for-200-million-by-lithium-technologies/" rel="nofollow noopener" target="_blank"> <span style="font-weight:400;">for $200 million</span></a><span style="font-weight:400;"> in 2014, moved from San Francisco to Los Angeles a year later to launch</span><a href="https://www.joymode.com/" rel="nofollow noopener" target="_blank"><span style="font-weight:400;"> his new venture </span><span style="font-weight:400;">Joymode</span></a><span style="font-weight:400;">. </span>" data-reactid="66" type="text">
<span style="font-weight: 400;">Despite
the increase in costs, advocates like Fernandez, the serial
entrepreneur, contend the LA tech scene has much to offer versus Silicon
Valley, its larger, even pricier sibling. Fernandez, who sold the
social media scoring startup Klout</span> <span style="font-weight: 400;">for $200 million</span><span style="font-weight: 400;"> in 2014, moved from San Francisco to Los Angeles a year later to launch</span><span style="font-weight: 400;"> his new venture </span><span style="font-weight: 400;">Joymode</span><span style="font-weight: 400;">. </span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Despite the increase in costs, advocates like Fernandez, the serial entrepreneur, contend the LA tech scene has much to offer versus Silicon Valley, its larger, even pricier sibling. Fernandez, who sold the social media scoring startup Klout</span><a href="http://fortune.com/2014/03/26/klout-acquired-for-200-million-by-lithium-technologies/" rel="nofollow noopener" target="_blank"> <span style="font-weight:400;">for $200 million</span></a><span style="font-weight:400;"> in 2014, moved from San Francisco to Los Angeles a year later to launch</span><a href="https://www.joymode.com/" rel="nofollow noopener" target="_blank"><span style="font-weight:400;"> his new venture </span><span style="font-weight:400;">Joymode</span></a><span style="font-weight:400;">. </span>" data-reactid="66" type="text">
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<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">The startup rents out</span><a href="https://techcrunch.com/2016/10/21/joymode-launch/" rel="nofollow noopener" target="_blank"> <span style="font-weight:400;">different kits of equipment</span></a><span style="font-weight:400;"> for experiences like “Backyard Movie Night” or “Let’s Go Camping,” for instance. Recruiting and retaining talent, a headache for many Bay Area tech companies, is somewhat less of a challenge in Los Angeles, according to Fernandez. Moreover, he says the pool of employees he&nbsp;can hire from is more diverse, hailing from other industries like entertainment, which has long been the city’s dominant industry.</span>" data-reactid="67" type="text">
<span style="font-weight: 400;">The startup rents out</span> <span style="font-weight: 400;">different kits of equipment</span><span style="font-weight: 400;">
for experiences like “Backyard Movie Night” or “Let’s Go Camping,” for
instance. Recruiting and retaining talent, a headache for many Bay Area
tech companies, is somewhat less of a challenge in Los Angeles,
according to Fernandez. Moreover, he says the pool of employees he can
hire from is more diverse, hailing from other industries like
entertainment, which has long been the city’s dominant industry.</span></div>
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<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">“There are a million different kinds of reasons why Joymode can fail,” Fernandez acknowledged. “That’s kind of the default outcome for any startup. Access to talent won’t be one of them. I feel like if I wanted to hire 50 more people here, I could hire 50 more people here.” &nbsp;</span>" data-reactid="72" type="text">
<span style="font-weight: 400;">“There
are a million different kinds of reasons why Joymode can fail,”
Fernandez acknowledged. “That’s kind of the default outcome for any
startup. Access to talent won’t be one of them. I feel like if I wanted
to hire 50 more people here, I could hire 50 more people here.” </span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">“There are a million different kinds of reasons why Joymode can fail,” Fernandez acknowledged. “That’s kind of the default outcome for any startup. Access to talent won’t be one of them. I feel like if I wanted to hire 50 more people here, I could hire 50 more people here.” &nbsp;</span>" data-reactid="72" type="text">
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<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Fernandez may not be hurting for money, but he has also found his dollar goes further in LA versus San Francisco.</span>" data-reactid="73" type="text">
<span style="font-weight: 400;">Fernandez may not be hurting for money, but he has also found his dollar goes further in LA versus San Francisco.</span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Fernandez may not be hurting for money, but he has also found his dollar goes further in LA versus San Francisco.</span>" data-reactid="73" type="text">
<br /></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">“The amount we made in profit on our SF home almost paid for our LA home,” he said. “Our LA home, including the lot it’s on, is probably four to six times bigger.”</span>" data-reactid="74" type="text">
<span style="font-weight: 400;">“The
amount we made in profit on our SF home almost paid for our LA home,”
he said. “Our LA home, including the lot it’s on, is probably four to
six times bigger.”</span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">“The amount we made in profit on our SF home almost paid for our LA home,” he said. “Our LA home, including the lot it’s on, is probably four to six times bigger.”</span>" data-reactid="74" type="text">
<br /></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Even better, he argued that because LA remains more affordable, at least for now, entrepreneurs like him have more financial runway to pursue their next big idea.</span>" data-reactid="75" type="text">
<span style="font-weight: 400;">Even
better, he argued that because LA remains more affordable, at least for
now, entrepreneurs like him have more financial runway to pursue their
next big idea.</span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Even better, he argued that because LA remains more affordable, at least for now, entrepreneurs like him have more financial runway to pursue their next big idea.</span>" data-reactid="75" type="text">
<br /></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">“San Francisco has all the so-called ‘water’ in the world, but everyone is still ‘thirsty,’” he added. “I can’t imagine actually starting a company now in San Francisco. There’s this entitlement people have and the timelines you have to deal with. There, you literally have one year with employees to make it or not financially. But here, I have longer.”</span>" data-reactid="76" type="text">
<span style="font-weight: 400;">“San
Francisco has all the so-called ‘water’ in the world, but everyone is
still ‘thirsty,’” he added. “I can’t imagine actually starting a company
now in San Francisco. There’s this entitlement people have and the
timelines you have to deal with. There, you literally have one year with
employees to make it or not financially. But here, I have longer.”</span></div>
<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<b>Could Silicon Beach lose its lustre?</b>" data-reactid="77" type="text">
<b>Could Silicon Beach lose its lustre?</b></h2>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">How much longer tech workers like Fernandez have may also depend on just how large LA’s tech scene becomes. Some local Venice residents are already </span><a href="https://www.bloomberg.com/news/features/2017-02-23/snap-rankles-venice-neighbors-opposed-to-beachfront-expansion" rel="nofollow noopener" target="_blank"><span style="font-weight:400;">protesting</span></a><span style="font-weight:400;"> the gentrification of their neighborhood. And several mid-level tech workers Yahoo Finance spoke to expressed concern their six-figure salaries may be enough to snag them a new, spacious apartment or home now but won’t be enough in the coming years, the way prices are climbing. In which case, they may — </span><span style="font-weight:400;">god forbid</span><span style="font-weight:400;"> — be forced to move to cheaper areas like downtown Los Angeles or West Hollywood. </span>" data-reactid="78" type="text">
<span style="font-weight: 400;">How
much longer tech workers like Fernandez have may also depend on just
how large LA’s tech scene becomes. Some local Venice residents are
already </span><span style="font-weight: 400;">protesting</span><span style="font-weight: 400;">
the gentrification of their neighborhood. And several mid-level tech
workers Yahoo Finance spoke to expressed concern their six-figure
salaries may be enough to snag them a new, spacious apartment or home
now but won’t be enough in the coming years, the way prices are
climbing. In which case, they may — </span><span style="font-weight: 400;">god forbid</span><span style="font-weight: 400;"> — be forced to move to cheaper areas like downtown Los Angeles or West Hollywood. </span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">How much longer tech workers like Fernandez have may also depend on just how large LA’s tech scene becomes. Some local Venice residents are already </span><a href="https://www.bloomberg.com/news/features/2017-02-23/snap-rankles-venice-neighbors-opposed-to-beachfront-expansion" rel="nofollow noopener" target="_blank"><span style="font-weight:400;">protesting</span></a><span style="font-weight:400;"> the gentrification of their neighborhood. And several mid-level tech workers Yahoo Finance spoke to expressed concern their six-figure salaries may be enough to snag them a new, spacious apartment or home now but won’t be enough in the coming years, the way prices are climbing. In which case, they may — </span><span style="font-weight:400;">god forbid</span><span style="font-weight:400;"> — be forced to move to cheaper areas like downtown Los Angeles or West Hollywood. </span>" data-reactid="78" type="text">
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<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="“My concern regarding prices would be only if we have another tech bubble pop,” added Johnson." data-reactid="79" type="text">
“My concern regarding prices would be only if we have another tech bubble pop,” added Johnson.</div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Another </span><a href="http://finance.yahoo.com/news/why-ai-could-be-silicon-valleys-latest-micro-bubble-122521942.html"><span style="font-weight:400;">big tech bubble</span></a><span style="font-weight:400;">? Doubtful. Like it or not, it seems those highly paid techies are here to stay.</span>" data-reactid="80" type="text">
<span style="font-weight: 400;">Another </span><span style="font-weight: 400;">big tech bubble</span><span style="font-weight: 400;">? Doubtful. Like it or not, it seems those highly paid techies are here to stay.</span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Another </span><a href="http://finance.yahoo.com/news/why-ai-could-be-silicon-valleys-latest-micro-bubble-122521942.html"><span style="font-weight:400;">big tech bubble</span></a><span style="font-weight:400;">? Doubtful. Like it or not, it seems those highly paid techies are here to stay.</span>" data-reactid="80" type="text">
<br /></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Another </span><a href="http://finance.yahoo.com/news/why-ai-could-be-silicon-valleys-latest-micro-bubble-122521942.html"><span style="font-weight:400;">big tech bubble</span></a><span style="font-weight:400;">? Doubtful. Like it or not, it seems those highly paid techies are here to stay.</span>" data-reactid="80" type="text">
<span style="font-weight: 400;">Source: http://finance.yahoo.com/news/silicon-beach-will-still-lure-tech-talent-despite-skyrocketing-prices-165109286.html;_ylt=A0SO8y6Eru5YC0cAaUVXNyoA;_ylu=X3oDMTEydjRqaXQwBGNvbG8DZ3ExBHBvcwMxBHZ0aWQDQjM2OTRfMQRzZWMDc2M-</span></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Another </span><a href="http://finance.yahoo.com/news/why-ai-could-be-silicon-valleys-latest-micro-bubble-122521942.html"><span style="font-weight:400;">big tech bubble</span></a><span style="font-weight:400;">? Doubtful. Like it or not, it seems those highly paid techies are here to stay.</span>" data-reactid="80" type="text">
<br /></div>
<div class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" content="<span style="font-weight:400;">Another </span><a href="http://finance.yahoo.com/news/why-ai-could-be-silicon-valleys-latest-micro-bubble-122521942.html"><span style="font-weight:400;">big tech bubble</span></a><span style="font-weight:400;">? Doubtful. Like it or not, it seems those highly paid techies are here to stay.</span>" data-reactid="80" type="text">
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Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com3tag:blogger.com,1999:blog-5630305341456459380.post-73643190401931149702017-03-24T19:32:00.001-07:002017-03-24T19:32:47.940-07:00Will Snapchat billionaires buy property on Silicon Beach?<br />
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Looking for a home in Silicon Beach? We have the pulse on the market let us find your dream home for you too. Contact me direct: Sandy Lew 310-963-1623 Visit: <a href="http://www.sandralew.com/" target="_blank">www.sandralew.com</a><br />
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Yes, silicon beach is hotter than ever! The real estate market has a life of its own and with more than 700 technology companies and still more to come it seems the market is just beginning to bubble and will keep on going. Interest rates are still historically low and this micro climate is the place to be.<br />
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<b><u>Will Snapchat billionaires buy property in Silicon Beach?</u></b><br />
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<em>From Property Forum, written by Nicholas Wallwork, March 21st, 2017</em><br />
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The
recent flotation of Snapchat was extremely well received by the markets
hitting a high which valued the company at $28 billion. While the share
price has fallen back the founders of the company are now
multi-billionaires. So, will the new Snapchat billionaires follow the
general trend and by heavily into real estate?<br />
<h2>
LOS ANGELES COASTLINE</h2>
Many
believe that Silicon Beach will benefit from the recent flotation of
Snapchat and the fact the area is home to the Los Angeles tech start-up
industry. While it will be near impossible for any area of America to
compete with Silicon Valley there is certainly some money floating
around Silicon Beach. This 4 mile stretch of coastline is home to some
of the most luxurious properties you could ever hope to see and real
estate agents are already rubbing their hands in glee.<br />
While the
name might suggest a close correlation with Silicon Valley the culture
around Silicon Beach is more hip and arty than pure techie. Indeed many
people would suggest there are more pool parties than board meetings in
the area which probably says it all.<br />
<h2>
SILICON BEACH PRICES INCREASING</h2>
The
average property in Silicon Beach is now worth about $1.88 million
which is up 30% from 12 months previous. This perfectly reflects the
ongoing focus on technology companies in the area and with many experts
suggesting an array of technology IPOs will follow Snapchat, the money
could keep flowing. While there are some concerns that the area is
approaching a property price bubble, is it really fair to compare and
contrast with traditional valuation methods. Properties in Silicon
Valley seem to live a charmed life with very little in the way of
connection with the real world.<br />
The fact that Silicon Beach was
described as a “backwater” just a few years ago would suggest the market
is still relatively young. There is always concern when markets go up
in a straight line, going against the trend, but when relating to
technology shares and stock market flotations, is this not a whole
different ballgame?<br />
<h2>
HOME TO 700 TECHNOLOGY COMPANIES</h2>
Silicon
Beach was initially seen as an escape route for those looking to avoid
high rents and high property prices in San Francisco Bay. The fact that
more than 700 technology companies now have offices in the region would
suggest that it is starting to build its own economic climate. We know
from the success of Silicon Valley that putting technology companies
together creates a cumulative impact on local real estate.<br />
While
the likes of Facebook, Google and Microsoft have offices in the region
there are many small up-and-coming companies which could yet raise
significant funds. The next influx of property investors will be
prompted by the Snapchat flotation even though the market has been
extremely strong of late.<br />
<h2>
MICRO MARKETS</h2>
When looking at
the likes of Silicon Valley and Silicon Beach it can be easy to compare
and contrast with traditional real estate markets. The reality is that
these areas are based upon growing technology companies and the
microeconomic climate often varies enormously from the general economy.
So, as much as people are trying to talk down the value of property in
Silicon Beach and “avoid a property price bubble” these are not
traditional markets, they are not valued by traditional barometers and
they really do have a life of their own.</div>
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<span style="font-weight: normal;"><span style="font-size: small;">Source: https://www.travisdina.com/news/2017/3/21/will-snapchat-billionaires-buy-property-on-silicon-beach</span></span></h1>
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Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com1tag:blogger.com,1999:blog-5630305341456459380.post-78191020016667023402017-03-13T15:27:00.000-07:002017-03-13T15:27:14.290-07:00Keshav Tadimeti: LA’s Silicon Beach must complement Silicon Valley, not replace it<h1>
<span style="font-size: large;"><em><span style="font-size: small;">My website: <a href="http://www.sandralew.com/" target="_blank">www.sandralew.com</a></span></em></span></h1>
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<span style="font-size: large;"><span style="font-weight: normal;"><span style="font-size: small;"><span style="font-family: Arial, Helvetica, sans-serif;">I love this article from the Daily Bruin. I was born and raised in the bay area's Silicon Valley but now happily based in LA's Silicon Beach. Real estate continues to boom around here. California is definitely the place to be but Silicon Beach's high technology community has the potential to carve a niche as a diversifying force on the technicality-obsessed tech Silicon scene. There is so much talent and resources here with so much to offer. Silicon Beach needs to distinguish itself as more than just the alternative to Silicon Valley as LA being the second largest city in the U.S. has a huge impact on society.</span></span></span></span></h1>
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<span style="font-size: large;"><u><em>Keshav Tadimeti: LA’s Silicon Beach must complement Silicon Valley, not replace it</em></u></span></h1>
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<img alt="(Juliette Le Saint/Daily Bruin)" class="attachment-db-category-full wp-post-image" height="306" src="http://dailybruin.com/images/2017/03/santamonica-640x612.jpeg" width="320" /> </h1>
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<span style="font-weight: normal;"><span style="font-size: small;"> By Keshav Tadimeti Posted: March 9, 2017 7:13 pm</span></span></h4>
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<span style="font-weight: normal;"><span style="font-size: small;">The California technology industry has a bright future – a bright and sandy one, that is.
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For several decades, California’s Silicon Valley has been the global
face of technological advancement. Everything from the genesis of
startup culture to the creation of game-changing social media
applications took place within the Northern California valley, and the
technological metropolis now hosts innovative giants from the likes of
Google and Facebook.<br />
<br />
But that culture is now becoming a thing of the past. Overcrowding, toxic competitiveness and disconnect with society at large have begun to challenge the very optimistic ingenuity on which Silicon Valley built itself.<br />
<br />
Enter Silicon Beach.<br />
<br />
Emerging from the sandy silica beaches of Venice and Santa Monica,
Los Angeles’ Silicon Beach offers a palm-tree-riddled respite from the
Silicon Valley hustle. And over the past few years, the Beach has become
a nebula for startups, giving way for entrepreneurial unicorns like
Snap – the parent company of Snapchat – and Tinder.<br />
<br />
But Silicon Beach now stands to become a replica of Silicon Valley,
emulating not only its glory, but also its problems. And Los Angeles, a
city that already faces infrastructure and development challenges, has
neither the resources nor the space to sustain such a shift.<br />
<br />
Therefore, Silicon Beach needs to market itself as more than just the
beachside version of Silicon Valley. The city government – specifically
its chief innovation technology officer – can better integrate Silicon
Beach into the rest of the city by engaging startups to more prominently
solve LA’s infrastructure and societal problems.<br />
<br />
The birth of Silicon Beach is quite similar to that of Silicon Valley. The invention of transistors in the 1960s breathed life into Northern California by marrying technology with venture capitalism. Silicon Beach had comparable origins going as far back as 2006,
when bright-eyed inventors found an environment less crowded than
Silicon Valley in Santa Monica’s beaches. And in the midst of
Hollywood’s investment scene, Silicon Beach presented itself as a
technological outlet for entertainment, as signaled by the birth of Snapchat, Oculus and other media-based startups that have had notable success.<br />
<br />
But the challenges of Silicon Valley are now starting to spill over
into Los Angeles. After more than 40 years of growth, the Valley is
reaching carrying capacity. Startups are reaching a point of
suffocation, faced with the constant worry of retaining employees, who are sometimes easily drawn away by technology giants. Even the infrastructure has taken a toll: Rent prices have skyrocketed and the practice of sharing homes to cut down costs has become regular.<br />
<br />
Companies are now starting to set their eyes on
Silicon Beach. But as much as it seems like a “desert paradise” on the
surface, Los Angeles cannot sustain the explosive growth of Silicon
Valley. Affordable housing and lack of space are already problems
endemic in the city, and places like Playa Vista and Westchester have
seen home prices shoot up thanks to tech companies flocking down to LA.<br />
<br />
Thus, Silicon Beach needs to distinguish itself as more than just the
alternative to Silicon Valley. With the entertainment resources of
Hollywood and the benefits of the second-largest city in the U.S.,
Silicon Beach has the potential to carve a niche for itself as a
diversifying force on the technicality-obsessed tech Silicon scene.<br />
<br />
This is where City Hall can step in. In 2014, Mayor Eric Garcetti appointed
the city’s first chief innovation technology officer, whose role is to
utilize new technologies to help the city government better solve
problems. Among other things, the office has been able to create a
mobile application to report and address illegal dumping and potholes on
the streets.<br />
<br />
Consider the possibilities if the chief innovation technology officer
were to employ startups that already exist to help address the city’s
problems. By combining the potential of these companies with the
entertainment backing of Hollywood, the city would not only receive a
greater audience, but also be able to achieve a great deal more. Be it
enlisting companies specializing in virtual reality to help address the
concerns of city development or utilizing entertainment-based streaming
services marketed by startups to better inform citizens of the inner
workings of certain municipal departments, City Hall wouldn’t just
better serve Angelenos. It would also cultivate a distinct character for
Silicon Beach that incorporates entertainment, technology and the city
at large.<br />
<br />
And through this development, Silicon Beach would be better poised
for its much-needed cultural shift from something more than just a convenient real estate option for space-hungry Silicon Valley companies.<br />
<br />
Certainly, Los Angeles is not immune to the problems of Silicon
Valley, and the competitiveness and toll on infrastructure will manifest
in some capacity. However, by differentiating itself as a complement to
Silicon Valley, Silicon Beach can better cultivate creativity while
minimizing the long-lasting negative effects on Los Angeles.<br />
<br />
And while specializing in the entertainment- or city-oriented brand
of startups – as opposed to being a generalized breeding ground for any
kind of startup – can seem to limit the region’s economic potential, we
shouldn’t forget how Hollywood’s entertainment specialization or New
York’s Broadway scene only brought more talent to the cities, albeit in a
more focused manner. And there would arguably still be a wide range of
applications that even the city’s college students can develop under
such specialization.<br />
<br />
The sandy beaches of Santa Monica and Venice have more to offer the world than just well-packaged nutrient shakes or video doorbells,
and Silicon Beach can be more than just the awkward younger sibling of
Silicon Valley. But it has to market itself in a way that combines the
various facets innate to the City of Angels.<br />
<br />
Los Angeles is on the crux of a spectrum wide shift to identify what
kind of city it wants to be. And if done right, Silicon Beach can help
it do just that.<br />
<br />
Source: http://dailybruin.com/2017/03/09/keshav-tadimeti-las-silicon-beach-must-complement-silicon-valley-not-replace-it/ <br />
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Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com1tag:blogger.com,1999:blog-5630305341456459380.post-88772917012799867482017-02-08T13:53:00.000-08:002017-02-08T13:53:03.868-08:00<div class="separator" style="clear: both; text-align: center;">
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<span style="font-size: small;">Visit my website: <a href="http://www.sandralew.com/" target="_blank">www.sandralew.com </a></span></h1>
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<span style="font-size: small;"><span style="font-weight: normal;">Venice Beach homes in sunny California are a hot commodity. So many are probably thinking and regretting not buying even just 10 years ago. As a Venice beach area realtor I view every hot new listing on the market weekly on broker caravan Tuesdays. Location, location is key in real estate and this proving to be a profitable locale. Let me know what you're looking for and I'll find it for you. Timing is everything. Thinking of selling? This is a great time to make a move as it's a seller's market as inventory for well priced properties are going fast. This is one of the priciest neighborhood's in the nation and the eye popping numbers confirm it. Gotta love Venice! </span></span></h1>
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Median home prices in Venice are rapidly approaching $2 million</h1>
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Sale prices rose more than 15 percent in 2016</h2>
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Elijah Chiland
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Jan 29, 2017, 2:48pm PST </time><br />
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Entering 2017, home prices in Venice are continuing to soar, with median sale prices now approaching $2 million, according to a quarterly report from real estate firm Douglas Elliman.</div>
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The report puts median prices in the beach community at
$1.978 million; that’s up nearly six percent from the previous quarter
and over 15 percent since the final months of 2015, when the median
price for a single-family home was a paltry $1.782 million. </div>
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Those numbers confirm the neighborhood’s status as one of
the priciest in the nation. For comparison’s sake, the median sale
price in Manhattan fell to $1.05 million this past quarter. And while
that borough continues to blow Venice away in terms of price per square
foot, condos in Venice are now selling for per-square-foot prices that
are nearly equivalent to those in Brooklyn.</div>
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Average prices in Venice are even more eye-popping. After
rising more than 20 percent since the year before, the area’s average
sale price stood at $2.439 million by the close of 2016. Meanwhile, sale
prices in Downtown Los Angeles and the Westside (which Douglas Elliman
has gerrymandered into its own submarket) averaged $1.666 million, with a
median sale price of $1.03 million.</div>
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Neighboring Mar Vista, which has also been inundated with
a flood of tech money in recent years, has seen its own gains in sale
prices. Median sale price rose to $1.49 million in the final quarter of
2016, up from $1.275 million a year earlier.</div>
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How long prices in the beachfront neighborhoods will
continue to rise is unclear. Across LA, the overall number of sales
dropped significantly in 2016. So far, though, that hasn’t stopped sale
prices from climbing.</div>
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Source: http://la.curbed.com/2017/1/29/14432118/venice-home-prices-los-angeles-million </div>
Sandra.Lewhttp://www.blogger.com/profile/10470766749710933957noreply@blogger.com2