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We want to take this opportunity to wish all of you a Wonderful Holiday VENICE REAL ESTATE MARKET UPDATE VENICE INVENTORY OF HOMES FOR SALE CONTINUES TO DECLINE ...
The number of homes listed on the Multiple Listing Service as of December 23rd for sale in Venice declined again over the past month to 51. This is the fourth month in a row that the inventory has dropped. This is down 54% since August 13th when there were 111 active SFR listings. This is the result of increased sales volume coupled with properties that weren't selling going off the market. After the holidays, there often is a surge in new listings as a result of sellers holding off or temporarily removing their property during December. The average days on market for the current listings increased from November's 114 days to 129 days. The average list price for the active listings is $1,664,103, up a little from last month. Of the 51 current listings, 22 (43.1%) are listed below November's average sale price of $1,211,923 and 29 (56.9%) are listed above that average sale price. Currently 28 single family homes are in escrow (average days on market is 112). This is a decrease from a month ago when there were 33 homes in escrow. The average days on market of pending homes increased from 100 the month before. The average list price for the homes in escrow is $1,297,266; 7% higher than November's average sales price and 28.3% lower than the average list price of the active listings. The November stats (see below) for Venice single family sales volume showed increases in all categories except for the average sales price per square foot which dropped slightly.. NOVEMBER 2009 VENICE SALES ...
Sales are for all of Venice and do not necessarily represent sales of CJ & Jay Cole. Information is compiled from DataQuick and the MLS/CLAW. Sources are deemed reliable; however, no representation of any kind is made as to its accuracy. HOW DOES THIS COMPARE ???
For a look of all of the Venice property sales by month since 1999, visit my web site at ../sa/index.html. JUST LISTED ... CANAL COTTAGE W/STUDIO !!!
411 LINNIE CANAL . VENICE CANALS NESTLED ON AN ISLAND IN THE VENICE CANALS ... this charming light-filled beach house offers 3 bedrooms and 2 baths in the main house plus a spacious art studio with half bath above the double garage. Tastefully remodeled, the open main level flows from the Canal-front porch to a private back courtyard and features an open living/dining area, kitchen with new cabinetry and butcher-block counter tops, a large media/family room (third bedroom), full bath and laundry room … all with gleaming maple floors and bright white walls and cabinetry. The upper level has two bedrooms, each with vaulted ceilings, new sisal-type carpet and private patio. The all-white bath has a spa tub. All rooms open via French doors to great porches/decks. The studio will be delivered with maple flooring, new paint and remodeled half bath at COE. The landscaping is simple and low maintenance. EXCLUSIVELY OFFERED FOR SALE AT ... $1,600,000. Download the Brochure To arrange a showing or for more information contact CJ & Jay at 310.823.3129. VENICE LEASE 1/2 BLOCK TO BEACH !!!
40 1/2 23RD AVENUE . VENICE A TERRIFIC BEACH PAD ... Just steps to the sand this above-the-garage flat is on a charming walk street 1/2 block to Venice beach. Sunny & cheerful this one bedroom, one bath has hardwood floors in the living/dining, bedroom & hall; tile in the kitchen & baths. Amenities include fresh paint, new blinds & nice appliances. The galley kitchen is open to the living area, affording a spacious feel while still being cozy. The large bath features a long vanity with good storage and a tiled shower. There is a great courtyard between the garage and the front cottage for the tenant's patio furniture & barbeque. Enclosed with high fences for privacy and security. There is garage parking for one car and an equipped laundry room. Will consider a dog. EXCLUSIVELY OFFERED FOR LEASE AT ... $2,000 / MONTH. Download the Brochure To arrange a showing or for more information contact CJ & Jay at 310.823.3129. CALIFORNIA MEDIAN PRICE RISES 5.8% IN NOVEMBER ... Home sales in California increased 4.7 percent in November compared with the same period a year ago, while the median price of an existing home rose 5.8 percent, according to a report released yesterday by C.A.R. The median price of an existing, single-family detached home in California during November 2009 was $304,520, a 5.8 percent increase from the revised $287,880 median for November 2008, C.A.R. reported. The November 2009 median price rose 2.4 percent compared with October’s $297,500 median price. The median home price in California has risen nine consecutive months in month-to-month comparisons, but November marked the first time California’s median home price has risen in year-to-year comparisons since August 2007.
TIPS FOR YEAR-END DONATIONS ... The Internal Revenue Service (IRS) has released a list of several important tax law provisions for individuals and businesses making contributions to charity, including: * Special Charitable Contributions for Certain IRA Owners: An IRA owner, age 70½ or older, can directly transfer tax-free up to $100,000 per year to an eligible charity. This option, created in 2006, is available for distributions from IRAs, regardless of whether the owners itemize their deductions. Distributions from employer-sponsored retirement plans, including SIMPLE IRAs and simplified employee pension (SEP) plans, are not eligible. * Clothing and Household Items: Clothing and household items donated to charity generally must be in good used condition or better to be eligible. Household items include furniture, furnishings, electronics, appliances, and linens. * Monetary Donations: To deduct any charitable donation of money, regardless of amount, a taxpayer must have a bank record or a written communication from the charity showing the name of the charity and the date and amount of the contribution. Bank records include canceled checks, bank or credit union statements, and credit card statements. FAST FACTS California median home price - November 09: $304,520 (Source: CAR) California highest median home price by CAR region November 09: Santa Barbara So. Coast $750,000 (Source: CAR) California lowest median home price by CAR region November 09: High Desert $124,710 (Source: CAR) California First-time Buyer Affordability Index - Third Quarter 2009: 64 percent (Source: CAR) Conforming mortgage rates - week ending
12/17/09 Please keep us in mind when you have family, friends or associates who are Thanks ... CJ & Jay
CJ COLE, BROKER Phone: 310.823.3129 . 310.773.6945 |
