There are 33 blog entries for March 2008.
Monday, March 31st, 2008 at 4:30am. 259 Views, 0 Comments.
What would you find now? Was waiting the right call?
Let's look at the big picture first, then the local market:
- Housing market generally – There's not much debating the fact that the housing market continued its deterioration with a vengeance these past 6 months. The current Case-Shiller index shows a home price drop nationally of about 10% over 6 months (July '07-Jan. '08), and a drop of 14% in LA County. January was the worst for sales in all of Dataquick's 20 years in business, and February was only a trickle better.
- The economy – Recession talk was
Sunday, March 30th, 2008 at 9:37pm. 581 Views, 0 Comments.
This was a week in which we had some days with substantive, well-considered comments, and some days with comments that went off the rails. So maybe it really is time to change, if this is disrupting the average reader's experience – as we often hear.
We recognize that the final decision on the subject belongs to your humble correspondent here. But we'd rather get some input first. Please vote in the poll – and keep in mind that you can vote for all the options you like. Voting closes Weds. at 8pm. Please support your rationale for voting within the comments on this story.
Know this: We've so far deleted about 5 comments in one year of MB Confidential. (Excluding SEO advertising…
Friday, March 28th, 2008 at 10:30pm. 253 Views, 0 Comments.
916 9th is a perennial favorite here at MBC; it made Mrs. MBC's year-end list. It's the great room/living room/yard combo, mainly, that works. Offers 5br/5ba, 4550 sq. ft. It was on the market last year, as high as $3.275m, but it's at $2.895m now. The first posted open since its late-February return is Sun. 1-4pm.
923 1st offers the lay public the chance to see a $7.6m home, much as they were once offered the chance to see an $8m home. But please recognize this one requires advance arrangements/RSVP (see info in the BR open house…
Friday, March 28th, 2008 at 10:01pm. 339 Views, 0 Comments.
It was a nice discount at the time – our older records show the property was first listed at $1.450m in May of that year.
The purchase was about 18 months ago. Then 523 Marine was back on the market in early late February of this year.
This owner sought $1.379m, and the property sold quickly – less than 3 weeks on the market. (There's some of that going around these days – what's selling seems to be selling fairly fast.)
After a quick escrow, the former owner got $1.340m (-$39k/-3% off list, +30k/+2% over Fall 2006).
Though the price was essentially flat, it seems fair to assume the owner took some kind of financial hit. The buyers'…
Friday, March 28th, 2008 at 3:24am. 325 Views, 0 Comments.
The results, which we'll publish in another brief story soon, told us that Francisco St. is the city's most obscure street.
It's with good reason. For one, Francisco is a border street, more or less, at the far south end near Hermosa. For another, there are only 6 homes with a Francisco St. address, so odds are you haven't visited anyone there. We also don't see any sales on the short block since 2001.
Finally, Francisco is only part of a street. Most of the block you see in the picture here is actually 33rd St., Hermosa.
On the map here, from the county assessor's site, you can see how the grey border line between Hermosa and MB cuts a little…
Thursday, March 27th, 2008 at 4:37am. 237 Views, 0 Comments.
In comments here at MBC, someone posted the following median price stats for Q1 2006-2008, drawn from the MLS:
2006 - $1,625,000
2007 - $1,655,000
2008 - $1,832,000 These statistics were said to reflect all sales in MB in these 3 comparative periods – which means some sales we don't cover here, i.e., THs/condos and sales East of Sepulveda. And, obviously, Q1 2008 hasn't quite finished yet, so there's some…
Wednesday, March 26th, 2008 at 5:21am. 504 Views, 0 Comments.
We'll write up some current activity on this front now, but henceforth we'll try to confine references to re-lists and True DOM to our twice-monthly market updates.
The bottom line for now is that the old tricks seem to be back. Our faith that Mr. MLS would solve this issue is largely broken, and the practice of bogus re-lists survives.
To recap: As is well-documented in MBC's 1-year history of public market tracking, it's a deeply embedded practice among local real estate agents to cancel and re-list properties that have gone stale. We call the tactic a "bogus re-list." The new sheriff in town, Mr. MLS, calls it "churning," and also a "deceptive business practice." Nice.…
Tuesday, March 25th, 2008 at 3:49am. 240 Views, 0 Comments.
The LA County Assessor, Rick Auerbach, has seen beyond the horizon. He knows he's going to be flooded soon with requests for re-assessments (and lower property tax bills), given all the headlines about the RE market's rapid crash in the county. So he's offering to do the work himself first, lowering property tax bills en masse before the requests start pouring in.
In print, on radio and TV – and on the internet – the assessor is trying to get the message out and tell homeowners: Don't bother us, we'll take care of you, it'll be fine – you'll pay less, just let us do our work. (Click to download the…
Monday, March 24th, 2008 at 4:03am. 247 Views, 0 Comments.
We've got plenty to cover this week, but we're going start on a more whimsical note, with a different sort of poll. This one will test readers' knowledge of the back streets and hidden corners of MB.
The idea for this poll comes out of the fact that there's now a second listing of the year on Homer (225 Homer). Well, we know where Homer is, but we had lived in MB quite a while before we saw that street. We wondered how many other MB residents even know there is a Homer in town.
Another listing at 131 Kelp posed the same sort of question for us before: Do people know where Kelp is?
Here's how the poll works: You can select multiple answers. We're asking which of the fairly obscure streets – all west of Sepulveda –…
Saturday, March 22nd, 2008 at 3:50am. 227 Views, 0 Comments.
Idea for a drinking game: Browse this week's Beach Reporter ads and take a quaff each time an ad says "Hop on Over!"
You can click here for the list of weekend open houses via the Beach Reporter online, or any time use the link under "Prop. Search Tools" in the right-hand column on the front page.
As always, click on any highlighted address for more pics & details via Redfin.
There's a dearth of open houses in the Hill Section this weekend. It's a very observant region of MB.
We're happy to call attention to the Easter open at 939 Duncan, a big-time remodel purchased 2 years ago by…