In February, Zillow appeared so confident in its ability to use artificial intelligence to estimate the value of homes that it announced a new option: for certain homes, its so-called "Zestimate" would also represent an initial cash offer from the company to purchase the property. The move, touted by a company exec at the time as "an exciting advancement," was intended to streamline the process for homeowners considering selling to Zillow as part of its home-flipping business. Zillow promoted this option as a way to make it convenient to sell a home while minimizing interactions with others during the pandemic. Just eight months later, however, the company is shutting down that business, Zillow Offers, entirely.
Santa Monica Market Update | October 2021
Single Family Homes
Up 22.1%
from November 2020
Up 13.8%
from October 2021
Down -11.1%
from October 2021
Condos/Townhomes
Up 51.5%
from November 2020
Down -16.4%
from October 2021
Up 44%
from October 2021
Food Obssession of the Month
Dipped Gingersnaps
The holiday is here and there's nothing better than sharing delicious snacks with family and friends. Try these Gingersnaps dipped in white chocolate!
Ingredients
2 cups sugar
1-1/2 cups canola oil
2 large eggs, room temperature
1/2 cup molasses
4 cups all-purpose flour
4 teaspoons baking soda
3 teaspoons ground ginger
2 teaspoons ground cinnamon
1 teaspoon salt
Additional sugar
2 packages (10 to 12 ounces each) white baking chips
1/4 cup shortening
Local Happenings
Santa comes to the Third Street Promenade on Friday, November 19 at 6 p.m. for the annual lighting of the official City of Santa Monica 24-foot-tall holiday tree. Nightly menorah lightings will celebrate the Festival of Lights during the Hanukkah season from Sunday, November 28 through Monday, December 6.
For a one-stop holiday shopping destination, the Conscious Night Market will be on the Promenade, Saturday, December 4 from 2 – 8 p.m. hosted by Fit Girl Club LA. The pop-up artisan market features unique goods from over 40 local vendors, elevated and sustainable brands in addition to live music and free kombucha. Shoppers can support local businesses while finding something for everyone on their gift list.
Lifestyle Tips & Tricks
According to the American Community and American Housing surveys, there are 66 million millennials in the U.S., and they now represent 37 percent of the total national homebuying market.
Millennials approach homebuying differently than older generations. It’s not just an obsession with Zillow browsing, but also different preferences for what they want in a home and more comfort in relying more heavily on digital processes from walkthroughs to closings, so the landscape is shifting to accommodate their needs and desires.
