Venice Digs

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.

VIEW THE VENICE PROPERTY SALES FOR THE PAST 12 YEARS

August showed increases in home sales over July in all four categories and surpassed August 2010 in all but the average sale price.

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.

Below is a chart of the listed/pending/sold properties.

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

Of the 64 active single family homes there are 2 short pays and 2 bank owned. Nine short pay homes are currently in escrow. There are 2 active and 1 pending short pay and 2 active and 1 pending bank owned condos. For income properties there are two bank owned and two short pay active listings and 2 short pay income properties in escrow.

Interest rates are low — really, really low. And artificially so, as time goes on, the government is slowly allowing some of the programs they imposed to keep rates low — to encourage buying and a housing recovery — to expire.

But it seems that the lower rates go, the lower we want them to be. In the early 1980s, rates ran as high as 15 percent, and people still bought and sold homes. Yet, after last year’s 4 percent rates, buyers being quoted 5 percent are turning their noses up at it, considering whether they ought not just take an adjustable-rate mortgage (ARM) at 3.5 percent instead.

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