Friday, October 23, 2015

3rd Quarter Market Report

Check out the latest Partners Trust Quarterly statistics report for the third quarter of 2015.  The market report is extensive and covers the Westside, Los Angeles proper, Manhattan Beach, San Gabriel Valley and Malibu.  Please feel free to contact our office with any specific questions about your neighborhood.

Check it out: Interactive Map for noise levels in Los Angeles

An app called HowLoud has created sound profiles of every Los Angeles address and RentLingo has released a searchable map that displays the decibel levels at any given point in Los Angeles, allowing you to see what it is like during the day and at night. This can definitely come in handy when searching for a home and are sensitive to noise. It is interesting to note that some of the trendier and pricey real estate is located in areas where the noise levels are fairly high thanks to restaurants and bars. Check out a few examples of Santa Monica below and why so many neighbors want the Santa Monica Airport to go away (at least the big jets).

Santa Monica Airport

Santa Monica

Source: LA Curbed Blog

Mortgage rates continue to drop

Mortgage rates continued to trend lower, following declining Treasury yields. The 30-year fixed-rate mortgage “FRM” averaged 3.79% for the week ending October 22, down from last week when it averaged 3.82%. In 2014, the 30-year FRM averaged 3.92%. The 15 year FRM averaged 2.98% while averaging 3.03% last week. A year ago at this time, the 15-year FRM averaged 3.08%.

(Source: Housing Wire)

Santa Monica: Lincoln Boulevard to get a makeover

The section of Lincoln Blvd. between the 10 fwy and Ozone Ave (city border with Venice) is in for a make-over to beautify the area making it more inviting to pedestrian foot traffic and cut-down on conflicts between cars and people on bikes. The plan, called Lincoln Neighborhood Corridor, aims to add dedicated peak-hour bus lanes, more crosswalks, nicer landscaping, street furniture and better sidewalk lighting. The plans also calls for adaptive reuse of buildings for more consumer friendly tenants like eateries and coffee shops that will be more community friendly.

click on images to enlarge

Be Prepared for El Nino!

We talked about the importance of preparing for El Nino a few months back and we are just reiterating it as this could potentially be one of the wettest winters in Southern California history. The largest hurricane in history is about to hit Mexico and is just another reminder of how warm the Pacific Ocean is.

Here is a link to a recent LA Times article outlining 28 things to do to prepare for El Nino.  (Hint: check and fix leaks; clean out gutters and downspouts; inspect windows; Store emergency materials)

(Source: LA Times)