Venice Style Real Estate News by CJ Cole, Venice Beach Living

"Venice Style" is an email newsletter on what’s happening in the Venice real estate market. CJ Cole, former newspaper publisher, is the author.
In 2000, CJ's "Venice Style" was awarded first place in the country for real estate email marketing by the National Realtors ® Association.

CHECK-OUT MY LATEST ISSUES ...

http://www.venicebeachliving.com

"VENICE STYLE"
JUNE . 2008

the pulse of what's happening and what's
new around Venice

VENICE REAL ESTATE MARKET UPDATE

MAY 2008 VENICE SALES

HOW DOES THIS COMPARE ???

I am starting to see an increase in buyer interest ... at the right price !!! The possibility of interest rate increases may be a partial factor. And, perhaps there is a feeling that we may be nearing the low point. However, buyers definitely are not anticipating an increase in property values in the near future.

As to the current market ... Venice inventory remains high ... 85 active single family homes for sale as on June 19th ... the same as one month ago. However, the average days on market for the current active listings increased to 77 days as compared to 71 days a month ago.

So far in 2008, 54 single family homes have sold (average days on market was 65 days ... down a smidgen from last month's 66); 22 are in escrow (average days on market was 59 ... down almost 10% from last month's it was 65 days) and 94 listings have been taken off the market without selling (average days on market was 113 days ... up from last month).

For a look of all of the Venice property sales by month since 1999, visit my web site at http://venicebeachliving.com/sa/index.html.

WATCH THE ROAD ...

NEW CELL PHONE LAW BECOMES EFFECTIVE JULY 1ST

California's two new cellular phone use laws, which will take effect July 1, 2008, will force drivers to use hands-free mobile devices and prohibit drivers under 18 from using cell phones at all. For additional information please visit the web site ... http://www.watchtheroad.org.

FAST FACTS

California median home price - April 08: $403,870 (Source: C.A.R.)

California highest median home price by C.A.R. region April 08: Santa Barbara So. Coast $1,170.000 (Source: C.A.R.)

California lowest median home price by C.A.R. region April 08: High Desert $210,860 (Source: C.A.R.)

California First-time Buyer Affordability Index - First Quarter 08: 44 percent (Source: C.A.R.)

Mortgage rates - week ending 06/12/08
30-year fixed: 6.32% Fees/points: 0.7%
15-year fixed: 5.93% Fees/points: 0.6%
1-year adjustable: 5.09 % Fees/points: 0.6% (Source: Freddie Mac)

FOR HOMEOWNERS ...

DOES MOVING UP MAKE SENSE ???

These questions will help you decide whether you're ready for a home that's larger or in a more desirable location. If you answer yes to most of the questions, it's a sign that you may be ready to move.

1. Have you built substantial equity in your current home? Look at your annual mortgage statement or call your lender to find out. Usually, you don't build up much equity in the first few years of your mortgage, as monthly payments are mostly interest, but if you've owned your home for five or more years, you may have significant, unrealized gains.

2. Has your income or financial situation improved? If you're making more money, you may be able to afford higher mortgage payments and cover the costs of moving.

3. Have you outgrown your neighborhood? The neighborhood you pick for your first home might not be the same neighborhood you want to settle down in for good. For example, you may have realized that you'd like to be closer to your job or live in a better school district.

4. Are there reasons why you can't remodel or add on? Sometimes you can create a bigger home by adding a new room or building up. But if your property isn't large enough, your municipality doesn't allow it, or you're simply not interested in remodeling, then moving to a bigger home may be your best option.

5. Are you comfortable moving in the current housing market? If your market is hot, your home may sell quickly and for top dollar, but the home you buy also will be more expensive. If your market is slow, finding a buyer may take longer, but you'll have more selection and better pricing as you seek your new home.

6. Are interest rates attractive? A low rate not only helps you buy a larger home, but also makes it easier to find a buyer.

BUYING ...

7 REASONS TO OWN YOUR HOME

1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home.

2. Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005, and increased 88.5 percent over the last 10 years, according to the NATIONAL ASSOCIATION OF REALTORS®. In addition, the number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing.

3. Equity. Money paid for rent is money that you'll never see again, but mortgage payments let you build equity ownership interest in your home.

4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.

5. Predictability. Unlike rent, your fixed-mortgage payments don't rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will increase.

6. Freedom. The home is yours. You can decorate any way you want and benefit from your investment for as long as you own the home.

7. Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.

Online resources: To calculate whether buying is the best financial option for you, use the “Buy vs. Rent” calculator at http://www.GinnieMae.gov.

Please keep me in mind when you have family, friends or associates who are
thinking of buying or selling a home ... I'd love to help them achieve their dream !!!

Thanks ... CJ

CJ COLE
RE/MAX Marquee Partners

Phone: 310.823.3129 . 310.503.4834
Web Site: http://www.venicebeachliving.com

http://www.venicebeachliving.com

"VENICE STYLE"
MAY . 2008

the pulse of what's happening and what's
new around Venice

VENICE REAL ESTATE MARKET UPDATE

APRIL 2008 VENICE SALES

HOW DOES THIS COMPARE ???

Whew !!! These stats look a lot better than last month's !!! And we seem to be back on par with the 2007 stats !!! Properties that are priced correctly for this market are selling fairly quickly !!!

As to the current market ... Venice inventory remains high ... 85 active single family homes for sale as on May 20th. The average days on market for the current active listings is 71 days.

So far in 2008, 44 single family homes have sold (average days on market was 66 days); 21 are in escrow (average days on market was 65 days) and 83 listings have been taken off the market without selling (average days on market was 109 days).

For a look of all of the Venice property sales by month since 1999, visit my web site at http://venicebeachliving.com/sa/index.html.

FOR HOMEOWNERS ...

12 TIPS FOR HIRING A REMODELING CONTRACTOR

1. Get at least three written estimates.

2. Check references. If possible, view earlier jobs the contractor completed.

3. Check with the local Chamber of Commerce or Better Business Bureau for complaints.

4. Be sure the contract states exactly what is to be done and how change orders will be handled.

5. Make as small of a down payment as possible so you won’t lose a lot if the contractor fails to complete the job.

6. Be sure that the contractor has the necessary permits, licenses, and insurance.

7. Check that the contract states when the work will be completed and what recourse you have if it isn’t. Also, remember that in many instances you can cancel a contract within three business days of signing it.

8. Ask if the contractor’s workers will do the entire job or whether subcontractors will be involved too.

9. Get the contractor to indemnify you if work does not meet any local building codes or regulations.

10. Be sure that the contract specifies the contractor will clean up after the job and be responsible for any damage.

11. Guarantee that the materials that will be used meet your specifications.

12. Don’t make the final payment until you’re satisfied with the work.

BUYING OR REFINANCING ...

SPECIALTY MORTGAGES ... RISKS & REWARDS

In high-priced housing markets, it can be difficult to afford a home. That’s why a growing number of home buyers are forgoing traditional fixed-rate mortgages and standard adjustable-rate mortgages and instead opting for a specialty mortgage that lets them “stretch” their income so they can qualify for a larger loan.

But before you choose one of these mortgages, make sure you understand the risks and how they work.

Specialty mortgages often begin with a low introductory interest rate or payment plan — a “teaser”— but the monthly mortgage payments are likely to increase a lot in the future. Some are “low documentation” mortgages that come with easier standards for qualifying, but also higher interest rates or higher fees. Some lenders will loan you 100 percent or more of the home’s value, but these mortgages can present a big financial risk if the value of the house drops.

Specialty Mortgages Can:

Pose a greater risk that you won’t be able to afford the mortgage payment in the future, compared to fixed rate mortgages and traditional adjustable rate mortgages.
Have monthly payments that increase by as much as 50 percent or more when the introductory period ends.
Cause your loan balance (the amount you still owe) to get larger each month instead of smaller.

Common Types of Specialty Mortgages:

Interest-Only Mortgages: Your monthly mortgage payment only covers the interest you owe on the loan for the first 5 to 10 years of the loan, and you pay nothing to reduce the total amount you borrowed (this is called the “principal”). After the interest-only period, you start paying higher monthly payments that cover both the interest and principal that must be repaid over the remaining term of the loan.

Negative Amortization Mortgages: Your monthly payment is less than the amount of interest you owe on the loan. The unpaid interest gets added to the loan’s principal amount, causing the total amount you owe to increase each month instead of getting smaller.

Option Payment ARM Mortgages: You have the option to make different types of monthly payments with this mortgage. For example, you may make a minimum payment that is less than the amount needed to cover the interest and increases the total amount of your loan; an interest-only payment, or payments calculated to pay off the loan over either 30 years or 15 years.

40-Year Mortgages: You pay off your loan over 40 years, instead of the usual 30 years. While this reduces your monthly payment and helps you qualify to buy a home, you pay off the balance of your loan much more slowly and end up paying much more interest.

Questions to Consider Before Choosing a Specialty Mortgage:

How much can my monthly payments increase and how soon can these increases happen?
Do I expect my income to increase or do I expect to move before my payments go up?
Will I be able to afford the mortgage when the payments increase?
Am I paying down my loan balance each month, or is it staying the same or even increasing?
Will I have to pay a penalty if I refinance my mortgage or sell my house?
What is my goal in buying this property? Am I considering a riskier mortgage to buy a more expensive house than I can realistically afford?

Be sure you work with a REALTOR® and lender who can discuss different options and address your questions and concerns!

Learn about the NATIONAL ASSOCIATION OF REALTORS® Housing Opportunity Program at www.REALTOR.org/housingopportunity. For more information on predatory mortgage lending practices, visit the Center for Responsible Lending at www.responsiblelending.org.

Please keep me in mind when you have family, friends or associates who are
thinking of buying or selling a home ... I'd love to help them achieve their dream !!!

Thanks ... CJ

CJ COLE
RE/MAX Marquee Partners

Phone: 310.823.3129 . 310.503.4834
Web Site: http://www.venicebeachliving.com

http://www.venicebeachliving.com

"VENICE STYLE"
APRIL . 2008

the pulse of what's happening and what's
new around Venice

VENICE REAL ESTATE MARKET UPDATE

APRIL 2008 VENICE SALES

HOW DOES THIS COMPARE ???

The charts say it all ... Both the number of single family homes that sold and the total dollar volume was drastically off during the month of March 2008 as compared with both the previous month and March 2007. However, the average sales price and the average price per square foot remained relatively steady.

I must qualify this with ... "Venice stats are difficult to analyse due to the small size of the data base and the wide variety in size and condition of the sold properties" ... CJ

For a look of all of the Venice property sales by month since 1999, visit my web site at http://venicebeachliving.com/sa/index.html.

FROM THE LOS ANGELES TIMES LAST WEEK ...

"SOUTHERN CALIFORNIA BEACH HOUSE PRICES STAYING AFLOAT"

April 8, 2008. Coastal bargains are to be had amid the housing downturn, but the properties are holding their value better than homes inland.

To read the whole article, click here.

C.A.R. GREEN TIP ...

GIVE YOUR COMPUTER A COOLING OFF PERIOD

Idling computers left on 24/7 gobble up electricity: the equivalent of a barrel of oil every 90 days. Fifteen perpetually idling computers in your brokerage are equivalent to the gas consumption of one car.

That's why UniblueTM Research Labs released LocalCoolingTM, a free power management tool that automatically optimizes your PC's power consumption via a more effective power-save mode. What's more, you'll be able to see your savings in real-time translated to more environmental terms, such as how many trees and gallons of oil you've saved. Visit www.localcooling.com to download the free software.

For more information, click here.

HAPPY APRIL 15TH (TAX DAY) !!!

Are you wondering "When do I get my rebate" ???

(Broker Agent News)) -- The Bottom Line ... Early in February, Congress passed the Economic Stimulus Act of 2008, and on February 13th, the President signed this bill into law. A major component of this $152 billion stimulus package is a tax rebate of up to $600 for single individuals and up to $1,200 for married couples. If you have kids under the age of 17, expect to receive an additional $300 per child as well.

For the full story click here.

Two Upcoming DON'T MISS Venice Events ...

ANNUAL VENICE GARDEN AND HOME TOUR
Saturday, May 3, 2008, 10:00 AM to 5:00 PM

For more information, click here.

VENICE ART WALK AND AUCTIONS
Saturday & Sunday, May 17th & 18th

For more information, click here.

Please keep me in mind when you have family, friends or associates who are
thinking of buying or selling a home ... I'd love to help them achieve their dream !!!

Thanks ... CJ

CJ COLE
RE/MAX Marquee Partners

Phone: 310.823.3129 . 310.503.4834
Web Site: http://www.venicebeachliving.com

http://www.venicebeachliving.com

"VENICE STYLE"
MARCH . 2008

the pulse of what's happening and what's
new around Venice

VENICE REAL ESTATE MARKET UPDATE

FEBRUARY 2008 VENICE SALES

HOW DOES THIS COMPARE ???

Single family sales for February 2008 are up over 2007 in both number of homes sold and the total dollar sales volume. (This relationship is somewhat erroneous due to the fact that two additional homes sold in 2/07 that had no sales price reported and therefore were not factored into these figures.)

Average sale price is up significantly over last year; however, the price per square foot remains about the same as compared with last year and somewhat lower than 1/08.

Venice stats are difficult to analyse due to the small size of the data base and the wide variety in size and condition of the sold properties.

For a look of all of the Venice property sales by month since 1999, visit my web site at http://venicebeachliving.com/sa/index.html.

CALIFORNIA ASSOCIATION OF REALTORS REPORTS SALES DECREASE 28.5 PERCENT, MEDIAN HOME PRICE FALLS 26.2 PERCENT IN FEBRUARY

Home sales decreased 28.5 percent in February in California compared with the same period a year ago, while the median price of an existing home fell 26.2 percent, C.A.R. reported Monday.

The median price of an existing, single-family detached home in California during February 2008 was $409,240, a 26.2 percent decrease from the revised $554,280 median for February 2007, C.A.R. reported. The February 2008 median price fell 4.8 percent compared with January's revised $429,790 median price.

"Although sales rose for the fourth straight month in February by 9.5 percent compared to the previous month, they continue to be dragged down by the ongoing effects of both the credit/liquidity crunch and tighter underwriting standards that have reduced the pool of qualified buyers who can obtain a loan," said C.A.R. President William E. Brown.

For more information, click here.

CALIFORNIA GOES SOLAR

"Go Solar, California!" has established the goal of creating 3,000 megawatts of new solar-powered electricity by 2017, or enough to power 1 million homes. This program will allocate $3.3 billion to businesses, homeowners, and builders who qualify for rebates and incentives if they install solar systems on their homes or commercial buildings. The California Energy Commission funds solar electricity systems on new homes; the California Public Utilities Commission funds solar electricity systems on existing businesses and homes.

For more information, click here.

FAST FACTS
(courtesy Calfornia Association of Realtors® 3/26/08)

California median home price - February 08: $409,240(Source: C.A.R.)

California highest median home price by C.A.R. region February 08: Santa Barbara So. Coast $1,295,000 (Source: C.A.R.)

California lowest median home price by C.A.R. region February 08: High Desert $220,380(Source: C.A.R.)

California First-time Buyer Affordability Index - Third Quarter 07: 33 percent (Source: C.A.R.)

Mortgage rates - week ending 03/20/08 (Source: Freddie Mac)

30-yr. fixed: 5.87% Fees/points: 0.5%
15-yr. fixed: 5.27% Fees/points: 0.5%
1-yr. adjustable: 5.15 % Fees/points: 0.8%

STAY OR MOVE ???

Some home sellers waiting out unfavorable conditions may remodel instead ...

(MarketWatch) -- In order to sell a home in many places throughout the country, sellers need their homes to outshine the competition, must be very negotiable on price and be prepared for a months-long stretch on the market. It's enough to make some sellers sit this season out, waiting for conditions to improve.

But some homeowners will take it one step further, figuring that if they can't sell their home they might as well make it more comfortable during the time they're living in it.

For the full story click here.

The affluent, too, couldn’t resist adjustable rates ...

(The New York Times) Affluent consumers increasingly are ensnared in the home mortgage crisis thanks to adjustable-rate mortgages they can’t refinance. Here’s what some are doing about it.

To read the full story, please click here.

Please keep me in mind when you have family, friends or associates who are
thinking of buying or selling a home ... I'd love to help them achieve their dream !!!

Thanks ... CJ

CJ COLE
RE/MAX Marquee Partners

Phone: 310.823.3129 . 310.503.4834
Web Site: http://www.venicebeachliving.com

http://www.venicebeachliving.com

"VENICE STYLE"
FEBRUARY . 2008

the pulse of what's happening and what's
new around Venice

VENICE REAL ESTATE MARKET UPDATE

President Signs Economic Stimulus Bill ... Includes Raising Conforming Loan Limits

Yesterday, President Bush signed off on the $168 billion stimulus packaged approved by Congress last week, which, in addition to tax rebates for millions of working Americans and business owners, includes a vital, but temporary increase in the conforming loan limit. The economic stimulus package will allow the Federal Housing Administration, as well as Fannie Mae and Freddie Mac to offer mortgages above the current conforming loan limit of $417,000 to as much as $729,750 in high-cost areas for loans originated between July 1, 2007 and December 31, 2008.

Raising the conforming loan limits to more accurately reflect the cost of housing in California and other high-costs areas of the nation has long been a top California Association of Realtors® objective. Currently, Californians are forced into more expensive non-conforming jumbo loans, decreasing homeownership opportunities for many and forcing others into more costly – and often riskier – loan products.

“The actions of Congress and our president represent a significant victory for homeowners across the state and nationwide,” said C.A.R. President William E. Brown. “C.A.R. has long fought for increases to the conforming loan limit in order to close the gap for would-be home buyers in high-cost areas, such as California, and, with the spotlight now fully shining on this important issue, will continue those efforts and push for permanent changes beyond December 31.”

The increases call for raising the conforming loan limits to 125 percent of an area’s median home price capped at $729,750. U.S. Housing and Urban Development Secretary Alphonso Jackson will have up to 30 days to determine exactly what the loan limits for high-cost areas will be and, once those amounts have been made public, C.A.R. members will be notified.

In our area this means that many properties are now eligible for the lower-interest-rate conforming loans. For properties which require a somewhat higher loan, buyers can still take advantage of the higher limit with either a higher down payment and/or a second mortgage to make up the difference.

If you wish a referral to a local lender ... give me a call !!!

JANUARY 2008 VENICE SALES

For a look of all of the Venice property sales by month since 1999, visit my web site at http://venicebeachliving.com/sa/index.html.

THREE-YEAR COMPARISON
SINGLE FAMILY HOME SALES 2005 THROUGH 2007

Below is a series of charts comparing various sales statistics for single family home sales in Venice over the past three years. The data has been meticulously compiled from the Multiple Listing Service and DataQuick; thus offering a more accurate picture than the data from either alone can provide.

The graphs tell the picture ... the number of sales has declined significantly ... however, the prices for those properties that have sold are remaining relatively stable.

With over 20 years of selling Venice real estate behind me, I do know that the record increases in prices that Venice has seen is, in part, due to the tremendous amount of remodeling, additions and new construction that has occurred. This is a factor that is difficult to access ... but a real part of the equation that must be considered when pricing a property for sale.

Please keep me in mind when you have family, friends or associates who are
thinking of buying or selling a home ... I'd love to help them achieve their dream !!!

Thanks ... CJ

Venice Style is an email newsletter on what’s happening in the Venice real estate market. CJ Cole, former newspaper publisher, is the author. I hope you enjoy !!!

PS. The information above is deemed reliable but not guaranteed. This is not intended as a solicitation if your property is currently listed.

CJ COLE
RE/MAX Marquee Partners

Phone: 310.823.3129 . 310.503.4834
Web Site: http://www.venicebeachliving.com

http://www.venicebeachliving.com

"VENICE STYLE"
SEPTEMBER 2007

the pulse of what's happening and what's new around Venice

SEPTEMBER IN VENICE ...

VENICE NEIGHBORHOOD COUNCIL ELECTIONS COMING UP … CANDIDATE FORUM THURSDAY
THE FRIENDS OF THE VENICE LIBRARY TO HOLD BOOK SALE SEPTEMBER 8TH
ABBOT KINNEY FIRST FRIDAYS … SEPTEMBER 7TH
VENICE CHAMBER TO HOLD SEPTEMBER MIXER AT PACIFIC RESIDENT THEATRE
15TH ANNUAL VENICE MUSIC FESTIVAL TO BE HELD AT PALMS COURT
SAVE THE DATE … 23RD ANNUAL ABBOT KINNEY FESTIVAL SET FOR SEPTEMBER 30TH
PACIFIC RESIDENT THEATRE PRESENTS “THE HASTY HEART”
GREEN SCREEN FILM FESTIVAL COMING TO THE ELECTRIC LODGE
SWIM … BIKE … RUN … LA TRIATHLON SET FOR SUNDAY, SEPTEMBER 9TH
“TRAPPED INSIDE THE STORY” BOOK SIGNING SEPTEMBER 25TH

REAL ESTATE NEWS ...

CJ'S NEW LISTINGS
MARCH - JULY VENICE SALES & STATS
CALIFORNIA HOME SALES DECREASED 22.7 PERCENT IN JULY, MEDIAN PRICE UP 3.2 PERCENT FROM A YEAR AGO

VENICE NEIGHBORHOOD COUNCIL ELECTIONS COMING UP … CANDIDATE FORUM THURSDAY

It’s that time again … The Venice Neighborhood Council will hold their election on Sunday, September 16th. This year all 21 seats will be on the ballot for two-year terms. The election will take place at Venice High School between 10 AM and 5 PM. If you live, own property, attend school or work in Venice, you are a stakeholder. http://www.venicenc.org/Election has a bio on each of the candidates and information on what you need to show as valid credentials in order to vote. The deadline for registering for a vote-by-mail ballot has passed, so you must appear in person at the election to vote.

To meet and learn about all of the candidates running for the Council plan on attending the Candidate Forum on Thursday, September 6th from 6:30-9:00 PM at Westminster Elementary School, 1010 Abbot Kinney Blvd. This will be a great opportunity to personally meet the folks who propose to lead our community. Only our votes let Councilman Rosendahl, the Los Angeles City Council, and Mayor Villaraigosa know that Venetians are paying attention, and that we demand that they hear and address our concerns. We can do this by sending a loud message on September 16th.

THE FRIENDS OF THE VENICE LIBRARY TO HOLD BOOK SALE SEPTEMBER 8TH

All proceeds from this gigantic End of Summer used book sale will benefit the Venice-Abbot Kinney Memorial Branch Library. There will be great bargains in fiction and non-fiction, children’s books plus CDs, DVDs and videos. The sale begins at 9:00 AM and goes until 3:00 PM on Saturday … Come early for the best selection. For more information contact Carol Jones at 310.839.8349.

ABBOT KINNEY FIRST FRIDAYS AND DONATE FOR VENICE … SEPTEMBER 7TH

The merchants of Abbot Kinney invite you to join them on the 1st Friday of every month for extended shopping hours. The next 1st Friday will be September 7th, 2007 from 6 PM to 10 PM. Modeled after the popular holiday festival, the late summer nights will feature A.K.’s typical fabulous finds with the added addition of each merchant’s respective Venetian desires; drinks, snacks, entertainment and fabulous discounts and specials. Come stroll down Abbot Kinney Boulevard and explore the ever expanding, eclectic mix of boutiques, restaurants, bars and galleries in what has been called “…one of LA’s last strongholds of the independent retailer with attitude”, the place where surf culture meets bohemian chic.

So join us on Friday September 7th and be a part of the first nocturnal stroll down the Boulevard … Stores stay open until 10 PM … Bars and restaurants normal business hours. http://abbotkinneynow.com.

VENICE CHAMBER TO HOLD SEPTEMBER MIXER AT PACIFIC RESIDENT THEATRE

Don’t miss the Venice Chamber of Commerce’s September Mixer at the Pacific Resident Theatre on Wednesday, September 26th from 5:30 PM to 7:30 PM.

The Pacific Residents Theatre (established in 1985 as the Pacific Theatre Ensemble,) was conceived as an artistic cooperative embracing actors, directors, playwrights and designers all of whom shared a common background and a common vision. Since its inaugural production in 1985, PRT has presented over 70 critically acclaimed productions. Currently located at 703 Venice Boulevard in Venice. Fees/Admission … $5.00 for members, $10.00 for non-members. Raffle Tickets are $1.00 each or 6 for $5.00. For more info visit the Chamber web site at http://venicechamber.net/.

15TH ANNUAL VENICE MUSIC FESTIVAL TO BE HELD AT PALMS COURT

On September 16 from 2:00 PM to 5:00 PM the 15th Annual Venice Music Festival will be held at Palms Court, 733-743 Palms Boulevard (between Lincoln Boulevard & Abbot Kinney Boulevard). Benefiting Venice Community Housing Corporation, this year’s event will feature Ashley Maher and her Big Global Band and Los Pinguos from Argentina plus the famous silent auction … tables a block long with fantastic items to bid on. Fees/Admission for the Music Festival: Suggested donation: $5.00; food and drinks available.

For those who want a more intimate gathering, consider the Jazz at Palms Court Champagne Brunch, a community outreach and fundraising celebration featuring the Howlett Smith Duo from 11 AM to 2 PM. Advanced reservations are required. Tickets are $125.00. Call Kristen Laskaris for tickets or info: 310.399.1400 x 106. http://www.vchcorp.org.

SAVE THE DATE … 23RD ANNUAL ABBOT KINNEY FESTIVAL SET FOR SEPTEMBER 30TH

Between 10:00 AM - 06:00 PM on Sunday, September 30th, Venice will take to the streets to celebrate its 101 years of community at the 23rd annual Abbot Kinney Festival. Running through the heart of Venice, Abbot Kinney Boulevard will be closed to traffic from Main Street to Venice Boulevard to accommodate 2 stages of live music, dancers and performance artists, a spectacular children's court, 3 food areas, a spirit garden, art pavilion and over 300 vendors featuring original, handcrafted goods. Admission is FREE!

Contact Information: Abbot Kinney District Association, 310.396.3772, info@abbotkinney.org. Or go to their web site at http://www.abbotkinney.org.

PACIFIC RESIDENT THEATRE PRESENTS “THE HASTY HEART”

"Based on his experiences as an ambulance driver in WWII, Pulitzer Prize-winner John Patrick's timely, touching and life-affirming-play explores the complexities of trust, compassion and love, even in the shadow of war." Written By John Patrick and directed by Michael Rothhaar, this is the 3rd show Of The PRT Subscription Series. Playing through October 14th on Thursdays through Saturdays at 8 PM and Sundays at 3 PM, tickets are $20-$25. The theatre is located at 703 Venice Boulevard (3 Blocks West of Lincoln). Box Office: 310.822.8392. Web site: http://www.pacificresidenttheatre.com/.

GREEN SCREEN FILM FESTIVAL COMING TO THE ELECTRIC LODGE

In association with Earth Protect, the Electric Lodge Eco-Stage Initiative is presenting a Green Screen Film Festival on Friday and Saturday, September 7th and 8th. An inspiring portrait of those creating our sustainable energy, "Transforming Energy" will screen on Friday, September 7th, at 8:00 PM. Following the screening there will be an original dance piece inspired by the film (choreographed and performed by Lillian Barbeito) and a Q & A with Joel Shapiro, producer, “Transforming Energy” and founder of Electric Lodge.

On Saturday, September 8th, at 3:00 PM the topic will be renewable transportation with a screening of "Freedom Fuels” … petro diesel, biodiesel … the real story and "Who Killed the Electric Car?" … Was it GM or CARB or…? Come sleuth for the truth. And Q & A: Chris Payne, director, “Who Killed the Electric Car?”

At 7:30 PM the Sustainable Drive-In begins (TO ATTEND, YOU MUST bike, walk, use public transit or carpool with at least 4 people.) with a panel discussion "Image to Action" with Chris Payne & Chelsea Sexton of WKTEC and Meredith McCarthy of Heal the Bay. Plus at 9:00 PM there will be screening of "Dolphin Defenders" … Does the filming of the Japanese killing of many dolphins lead to saving these majestic creatures?

Electric Lodge, a solar powered Visual & Performing Arts Center is located at1416 Electric Avenue (between California & Milwood). Tickets are $10 for each session Friday evening & Saturday afternoon and available online at brownpapertickets.com or call 800.838.3006. Saturday night’s Sustainable Drive-In is FREE (see above for restrictions). Parking is available in the free on-site lot. For more information go to http://www.electriclodge.org/.

SWIM … BIKE … RUN … LA TRIATHLON SET FOR SUNDAY, SEPTEMBER 9TH

At 6:45 AM on Sunday, September 9th, an estimated 3,000 recreational, amateur and professional triathletes will converge on Venice beach at dawn to run into the Pacific Ocean for the first leg of the 8th Annual Los Angeles Triathlon. After exiting the water, competitors bike the second leg from LA’s West side to Hollywood and into Downtown, where they complete the third leg, running to the finish line at STAPLES Center. The Kaiser Permanente Los Angeles Triathlon is recognized as one of the top destination triathlons in the country with competition in Olympic- and sprint-distance triathlon, three-person relay teams, and a bike-only segment. This is a unique and unparalleled opportunity to see Los Angeles and Hollywood television landmarks biking and running on a historic course with no cars on the roadways.

Competitors who want more information about the event or want to register can do so at http://www.LATriathlon.com or by calling 714.978.1528. Late registration will still be accepted on Friday and Saturday, September 7 and 8 at the Marina del Rey Marriott. Divisions include: Olympic distance triathlon (pros, elite amateur and age group); short distance triathlon (age group); 3-person relay teams; and bike-only segment.

For us non-super-athletic Venetians this means that westbound Venice Boulevard will be closed (and un-crossable) from dawn until approximately 11:00 AM. So plan ahead !!!

“TRAPPED INSIDE THE STORY” BOOK SIGNING SEPTEMBER 25TH

On Tuesday, September 25, at 6:30 PM Leslie Cohen will appear in person and read from and discuss her latest book, “Trapped Inside the Story” at the Venice-Abbot Kinney Memorial Branch Library at 501 S Venice Boulevard. Books will be available for purchase and Leslie will sign copies. The book is a historical biography of Sonya Hebenstreit's courageous experiences surviving World War II in Lvov, Poland (now the Ukraine) under Russian, then German occupation. This free event is suitable for both adults and young adults as well. For more information call 310.821.1769.

CJ'S NEW LISTINGS

618 INDIANA AVENUE
4 UNIT APARTMENT BUILDING WITH TONS OF POTENTIAL !!!

VIEW WEB SITE AT ... www.618indiana.com

DOWNLOAD THE BROCHURE

DOWNLOAD THE MLS INFORMATION

Attention investors !!! Here's a great opportunity to own an excellent fourplex…centrally located near trendy Abbot Kinney shops & restaurants and Venice Beach. The spacious 2 bedroom + 1 bath units (approximately 750 s/f each) are in original condition and have good floor plans. Long-time tenants. With a little TLC there could be a terrific up-side potential. Large 5270 s/f lot. Open parking for at least 8 cars off the alley. PROBATE SALE IS NOT SUBJECT TO OVERBID. All offers on CAR PPA 1/06. Property: 2976 s/f | Lot Size: 5270 | Year Built: 1959.

Exclusively offered for sale at ... $1,100,000.

MARCH - JULY VENICE SALES & STATS

Below is an analysis of the Venice single family residential and residential income properties for the last three months (May through July) followed by the list of the properties that sold. We have combined the data from the Multiple Listing Service with that from Data Quick in an effort to be as accurate as possible. For those of you into following the sales trends in Venice, our web site lists all of the Venice sales since 1999. And ... should you have any questions as to the value of your property ... just give us a call or send us an email.

CALIFORNIA HOME SALES DECREASED 22.7 PERCENT IN JULY, MEDIAN PRICE UP 3.2 PERCENT FROM A YEAR AGO

LOS ANGELES (Au. 27) – Home sales decreased 22.7 percent in July in California compared with the same period a year ago, while the median price of an existing home increased 3.2 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.

“The decline in sales we experienced in July continues to be driven by both tighter underwriting standards since the start of the year and the adverse psychological impact of news and information regarding increases in foreclosures and the subprime situation,” said C.A.R. President Colleen Badagliacco. “Although the median price posted an increase statewide, there is a disparity between the lower-priced or entry-level markets where prices generally are soft at best and sales have declined sharply, and some higher priced markets that continue to experience price appreciation along with somewhat smaller decreases in sales.”

Closed escrow sales of existing, single-family detached homes in California totaled 350,980 in July at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR® associations statewide. Statewide home resale activity decreased 22.7 percent from the 453,980 sales pace recorded in July 2006.

The statewide sales figure represents what the total number of homes sold during 2007 would be if sales maintained the July pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

The median price of an existing, single-family detached home in California during July 2007 was $586,030, a 3.2 percent increase over the revised $567,860 median for July 2006, C.A.R. reported. The July 2007 median price decreased 1.4 percent compared with June’s revised $594,280 median price.

“With credit drying up in recent weeks, we expect further weakness in sales over the next few months,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “It is too early to say how long the current credit crunch will continue, but we are hopeful that we will avoid a prolonged credit crisis that might cause sales to decline over a longer period of time.

“It is important to note that decline in sales is not driven by weakening economic conditions,” she said. “Rather, the statewide and national economies continue to move forward, with no recession on the horizon at this point in time.”

CHECK OUT MY WEB SITE !!!

http://www.venicebeachliving.com

One of the new features is real-time access to all of the available properties for sale in Venice plus the ability to search for active listings throughout the West Side. The other elements for which our site is well known (Venice community information, neighborhood information, Venice sales history and lots more) have all been updated.

I hope you will find my site full of useful information and will visit it often !!!

Venice Style is a monthly email newsletter on what’s happening in Venice. Sprinkled into the editorial mix is an update on the local real estate market. CJ Cole, former newspaper publisher, is the author. I hope you enjoy and will be contributors.

Please keep me in mind when you have family, friends or associates that are thinking of buying or selling a home ... I'd love to help them achieve their dream !!!

--- ( I Want Your Feedback! ) ---

"Venice Style" is a newsletter created by CJ to let you know what's new and happening in Venice ... both from an community and a real estate standpoint. I'd like to hear your thoughts and suggestions for tips and topics that you would like to have included. And thanks for reading this issue of "Venice Style" ... I'll be back soon with more.

CJ COLE
RE/MAX All Cities Realty

Phone: 310.823.3129 . 310.503.4834
Web Site: http://www.venicebeachliving.com

This Internet site was designed and created by CJ Cole. Copyright 2008 CJ Cole. All Rights Reserved.
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