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Market Conditions in Venice : Real Estate Advice

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  • Local Info1
  • Home Buying9
  • Home Selling2
  • Market Conditions1

Activity 5
Fri Oct 4, 2013
Mary Fealkoff answered:
This is a great question. As most of the time when dealing with real estate there truly isn't a black and white answer because each property and price range is different. A generic answer would be 3% however there are many properties selling over list price. The best thing for you is to sit down with someone like myself and go over the exact numbers for your exact property and location in Venice. If you would like you can call me at 310-488-3415 and let's see if I can help. ... more
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Tue Dec 27, 2011
Jodie Francisco answered:
Hi Jean,

You can ask your realtor to have the title company pull the records, or they can see how many homes are still showing up on the mls. The Westside MLS (CLAW) does keep their records for quite some time, but I am not sure how long that policy has been in effect, so don't know if going back to 1994 is accurate. If you don't have a realtor, feel free to call me and I can get the information for you.

Best regards,

Jodie
... more
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Sun Dec 1, 2013
Paul Cruz answered:
Hi Jean,
I would need more detail on your home, bedrooms, baths, upgrades, lot size, etc. to narrow down the comps.
Paul Cruz
310-498-4942
lametrohome.com
0 votes 8 answers Share Flag
Sat Jul 27, 2013
Aaron Mirsky answered:
Hi West,

I'm seeing GRM all over the place right now. Just going off the "Solds" from the last couple of months on the MLS, a GRM from 13 to 16 seems like the typical range. I think the numbers get skewed a bit when you look at a say a duplex or triplex that is purchase as an owner occupied property. The additional units may simply serve to subsidize a large mortgage for the main house.

That said, you have to drill down pretty deeply on GRMs and cap rates in unique areas like Venice. I realize the answer is a bit vague but there is are differences between pure income properties and owner occupied 2-4 units.

Hope this helps.
... more
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Sat Dec 17, 2011
Cecil Duarte- Broker,ABR, CRS answered:
It truly depends on the area you are considering since lot of areas have experienced a reduction in value based on the rapid appreciation and boom of 2003-2004 and early parts of 2005. Need to analyze the recent sales and also what other properties are listed for since this recently has been a driving force for a lot of buyers to determine what they will offer based on competition and not on past history of recorded sales. As a buyer- the ball and momentum has come to you and you are in the drivers seat but be aware of falling prices since it still appears that the bottom has not been hit on recent market value drops on a lot of area of the country. Good luck ... more
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