Santa Monica Real Estate Market Heating Up

Realtors say the prices for homes in the Santa Monica real estate market are rising

Santa Monica, CA / News of celebrities buying property in the Santa Monica real estate market is not really news until a celebrity with a history of flipping property shows up to buy a home.

Grammy-winning musician Beck recently bought a home for $2.7 million in Santa Monica. Beck has a history of buying properties and then reselling them at a profit within a couple of years of the purchase. His latest buy is a 2.456 square foot home with 5 bedrooms and 3 baths.

“It’s interesting to note that Beck invests in real estate and has made sizable profits when he decides to sell,” said Kim Halverson of the Santa Monica real estate company Berkshire Hathaway Home Services. “Based strictly in what’s done in the past, this indicates Beck believes the housing market here is going to get better. That’s exactly what we’re seeing as well.”

That prediction is backed up by current market forces and others who watch and make predictions on what Santa Monica real estate is going to do.

A recent news story in the Santa Clarita Valley Signal interviewed industry experts. Their information shows Santa Monica is one of the leaders in Real Estate growth across the Los Angeles region.

“Again, exactly what we’re seeing. Homeowners are coming to us and asking if this is a good time to sell. We check what they paid, what they owe and offer our best advice. Homeowners who bought property at sharp discounts after the housing bust are now seeing substantial appreciation in values. So for them, yes, now is a good time to sell,” said Kristine Halverson.

Because the market is heating up, now is also the time to buy. Kim said with values rising regularly, a homeowner looking needs to move fast to get the best possible price. She said some properties, like that Beck purchased, are being sold for a bit more than the asking price.

“It’s very competitive,” she said. “Santa Monica homeowners are ready to sell their house and are finding plenty of willing buyers. Deals are out there, but you have to be on your toes. Your real estate agent has to really know this market.”

For more information on the sisters, their real estate company or to view listings, visit http://www.kimandkristine.tv

Media Contact:

Kim & Kristine Halverson
Berkshire Hathaway Home Services
3130 Wilshire Boulevard #100, Santa Monica, CA 90403
(310) 737-8173