I had the urge today to take a closer look at San Marino Real Estate prices over the past decade, to get a firmer grasp of how San Marino has weathered the economic storm. I was so encouraged and amazed at what I saw. San Marino Real Estate prices increased solidly through 2007, and then have taken a small dip in the past two years. Compared to the figures that I have heard in other areas, our 7% drop is minimal. As is obvious from these figures, we are selling far fewer homes since the peak in the mid 2000’s. This tells me that our residents our wealthy enough to postpone the sale of their homes and wise enough to see that this isn’t the optimal time in history to sell a home. This idea is supported by the large number of lease listings in San Marino. As of today’s date, there are 26 homes for lease in San Marino, and a month ago there were over 40. So, I say bravo to San Marino!
| San Marino Home Price Study | ||||
| Year | # | Avg | Avg | Price/Sq ft |
| Ended | Houses | Sales | Price/ | % |
| 9/30 | Sold | Price | Sq Ft | Change |
| 2009 | 88 | $1,719,303 | $573 | -2% |
| 2008 | 87 | $1,549,959 | $582 | -5% |
| 2007 | 144 | $1,722,588 | $609 | 5% |
| 2006 | 153 | $1,522,390 | $579 | 11% |
| 2005 | 174 | $1,441,312 | $517 | 12% |
| 2004 | 224 | $1,288,368 | $455 | 20% |
| 2003 | 237 | $1,084,996 | $366 | 7% |
| 2002 | 227 | $900,804 | $340 | 7% |
| 2001 | 153 | $894,354 | $317 | 6% |
| 2000 | 156 | $854,742 | ||
| ** Data taken from Multiple Listing Service | ||||
I would like to highlight a new lease that the Benuska Group just listed today, 2965 Somerset Place. This is the lowest priced lease in San Marino at $2,100 per month. It is a 3 bedroom, 1 bath home, with 1,313 sq ft of living space and a 8,268 sq ft lot. The owners of this property take excellent care of it and have recently replaced all of the windows and installed central air conditioning. There are hardwood floors throughout the home and the kitchen and bath are clean, but not remodeled. The back yard is nicely cared for and there is a concrete patio for outdoor entertaining.
Designed by the famous Wallace Neff, this French Revival estate is being sold as a probate and requires court confirmation. It has not been tended to for awhile and is in great need of TLC. The grounds are devoid of foliage, except for some artificial turf in the front yard. In addition, the past owner added a plethora of statues all around the property. These statues are out of place and detract from the home’s natural beauty. The property sits on a sloped property, but there is a large expanse of flat land that would be ideal for a pool and a large grass area. Also, there are some impressive patios on the property, which would be ideal for outdoor entertaining. 
At almost $9.3 million, this home will still require millions of dollars of renovation. The finished product could be beyond amazing, though. This home is a true piece of history, showcasing the talent of a truly brilliant architect. My friend is going to pass on this little project, but I am hoping that someone with great taste and quite a bit of money will grab ahold of this fabulous home and restore it to its original splendor.
San Marino schools are best known for their excellent academics. All one has to do is look at the college matriculation list from San Marino High School or look at the district API scores to realize that we do academics well. San Marino Unified has been the number one school district in California for five years straight. Yes, we have amazing and dedicated parents who lead and guide their children to be their best academically. But, what has impressed me the most about San Marino Schools is the fantastic teachers and the well thought out curriculum planning by our fabulous administration. Each year builds upon itself in a very holistic way.
To ensure that our children are not one-dimensional, San Marino Unified School District has really pressed forward with our athletics programs. Booster clubs have been formed, new facilities have been built, and new coaches have been acquired. Thanks to a group of very involved and generous families, who have really taken leadership over these programs, we have raised a lot of money to ensure that we are making athletics a priority. In the last years our athletes have had the honor of playing on a new artificial turf football field and track, a state-of-the-art baseball field and a renovated girl’s softball field. The energy is fabulous!
part of the District’s Strategic Plan, they aim to provide a world class education in academics, athletics, and the arts! My daughter, who is an actress, will have the opportunity to be on a comedy sports team, try out for plays and musicals and take excellent drama classes. While most school districts, in these difficult financial times, are stripping away these arts programs, San Marino Unified is continuing to offer their students programs in this vital and often ignored area.
Although a lot of our residents get out of town during the summer months, San Marino is a great place to be in the summer. Located in the San Gabriel Valley, we do get warm temperatures on most summer days, but the evenings and early mornings are amazing. For such a small town, we have some wonderful and historic sites, which are worth coming to see. Over the next couple of weeks, I will be talking about some of these highlights.