March 2009 
There are 29 blog entries for March 2009.
Deals or No Deals?
Monday, March 30th, 2009 at 6:08pm. 171 Views, 0 Comments.
Today we'll take a different approach to a pricing poll on several listings in the Tree Section.
Which, if any, of the current crop near $1.5m is a "deal?"
This is entirely subjective, of course. We'd define a "deal" roughly as a good price in today's market for what you get, not looking too far ahead as to whether that price will stand up next year or the year after.
Almost all of these properties have tradeoffs to consider, mainly suboptimal locations. But there are pluses, too, and they will gradually overtake the downsides as the prices get close to right.
Please research the properties listed here and vote in the poll. Support your position in the comments section here. We'll close the poll Thurs. night at 8pm.
Here are 6 properties currently listed…
Which, if any, of the current crop near $1.5m is a "deal?"
This is entirely subjective, of course. We'd define a "deal" roughly as a good price in today's market for what you get, not looking too far ahead as to whether that price will stand up next year or the year after.
Almost all of these properties have tradeoffs to consider, mainly suboptimal locations. But there are pluses, too, and they will gradually overtake the downsides as the prices get close to right.
Please research the properties listed here and vote in the poll. Support your position in the comments section here. We'll close the poll Thurs. night at 8pm.
Here are 6 properties currently listed…
Sunday Opens in the Trees (3/29)
Sunday, March 29th, 2009 at 4:19am. 101 Views, 0 Comments.
The action is in the Trees on Sunday, with more new offerings and a different mix than you'll see in other parts of town.
Among the listings MBC's highlighting, we're pointing you to two groups of 3 – a set of remodels near $1.1m-$1.2m, and three homes right next door to each other on little-known Fisher Ave. near downtown.
Click here for the complete list of opens published in the Beach Reporter, or at any time use the link in the right-hand column under "Prop. Search Tools." As always, click on any highlighted address for more pics & details via Redfin.
We ask MBC readers who visit these homes – or any open houses – to also report back. Tell us what you see, what you like and what you don't like. Use the comments here to discuss the homes we've highlighted.
…
Among the listings MBC's highlighting, we're pointing you to two groups of 3 – a set of remodels near $1.1m-$1.2m, and three homes right next door to each other on little-known Fisher Ave. near downtown.
Click here for the complete list of opens published in the Beach Reporter, or at any time use the link in the right-hand column under "Prop. Search Tools." As always, click on any highlighted address for more pics & details via Redfin.
We ask MBC readers who visit these homes – or any open houses – to also report back. Tell us what you see, what you like and what you don't like. Use the comments here to discuss the homes we've highlighted.
…
Hill Bits
Friday, March 27th, 2009 at 5:28am. 124 Views, 0 Comments.
There is not a lot going on the Hill Section, but a few tidbits hit our radar...
First, 406 Anderson is a new home (5br/4ba, 4500 sq. ft.) that has taken a steep and quick dive from its early-January start at $3.699m to $2.999m.
There can't be too much profit left in this project. The lot was acquired for $2.050m in May 2007.
Next, in recent days we saw 3 listings quit in the Hills, at least a couple needing further research/explanation:
First, 406 Anderson is a new home (5br/4ba, 4500 sq. ft.) that has taken a steep and quick dive from its early-January start at $3.699m to $2.999m.There can't be too much profit left in this project. The lot was acquired for $2.050m in May 2007.
Next, in recent days we saw 3 listings quit in the Hills, at least a couple needing further research/explanation:
- 1042 1st (5br/5ba, 4800 sq. ft.), a resale, expired after 6 months, trimming from $3.495m to $2.795m;
- 617 6th (5br/6ba, 5725 sq. ft.), a new home, dropped out after a year in which $1m came off the asking price, but there's no market now even at $4.995m; and
- 700 8th (5br/5ba, 4925 sq. ft.), a resale on a big ocean-view
Flipping for Rosecrans?
Thursday, March 26th, 2009 at 6:35am. 118 Views, 0 Comments.
It wasn't long ago that you could buy a run-down place, redo the kitchen and baths, maybe floors and greenery, and turn a nice profit.
All those old-fashioned calculations about how you could supposedly recover just 70% of the cost of a kitchen remodel, or 50% of a bathroom remodel – there are lots of formulas out there – became irrelevant for a while. Home values were rocketing upward, and a freshly remodeled flip would get preferential treatment in the market.
Can you say multiple offers? Above asking?
There's a new listing at 3619 Poinsettia (click address for more pics & details via Redfin), at the corner with Rosecrans, that, by profile, looks a bit like one of those old-time flips.
The 1950s cottage (3br/3ba, 1350 sq. ft.) was purchased during the Spring…
All those old-fashioned calculations about how you could supposedly recover just 70% of the cost of a kitchen remodel, or 50% of a bathroom remodel – there are lots of formulas out there – became irrelevant for a while. Home values were rocketing upward, and a freshly remodeled flip would get preferential treatment in the market.
Can you say multiple offers? Above asking?
There's a new listing at 3619 Poinsettia (click address for more pics & details via Redfin), at the corner with Rosecrans, that, by profile, looks a bit like one of those old-time flips.The 1950s cottage (3br/3ba, 1350 sq. ft.) was purchased during the Spring…
MB Market Update for 3/15/09, Trees
Wednesday, March 25th, 2009 at 5:33am. 136 Views, 0 Comments.
Wrapping up now with a third installment of our update for the first half of March, we'll cover the Tree Section.
To bring things up to the moment, we'll drop in some more current news as well.
Inventory for the first half of March stood at 54 SFRs in the Trees, 36 of them below $2m and 18 listings priced higher.
Here the totals are a bit higher than at the same point in 2008, and the mix has shifted more notably toward the lower end. In our March 15, 2008 update, inventory was 47, with 26 below $2m and 21 above.
New listings totaled 5 in the first part of the month:
To bring things up to the moment, we'll drop in some more current news as well.
Inventory for the first half of March stood at 54 SFRs in the Trees, 36 of them below $2m and 18 listings priced higher.
Here the totals are a bit higher than at the same point in 2008, and the mix has shifted more notably toward the lower end. In our March 15, 2008 update, inventory was 47, with 26 below $2m and 21 above.
New listings totaled 5 in the first part of the month:
2404 Elm (3br/2ba, 1200 sq. ft.) is a remodeled cottage with a finished basement, offering another 600 sq. ft. of usable space. Starts at $1.199m.
- 2404 Palm (4br/3ba, 3100 sq. ft.) is a quirky
Craigslist Craziness
Tuesday, March 24th, 2009 at 4:04am. 153 Views, 0 Comments.
If you ever jump over to Craigslist to look for real estate for sale (MBC offers this link to MB homes on Craigslist in the sidebar), you probably know that chaos reigns there.
Often the headlines scream "too good to be true," and you know what they say about things that sound that way. Mmmm-hmmm.
Squeezed between the FSBOs and faux-FSBOs, the REOs and faux-REOs, and advertisements by real estate agents for properties they are not actually selling, there are also some postings by the actual agents selling some homes.
And then there's one current posting that is a little bit of all these things. A posting that just keeps appearing and reappearing and re-reappearing, raising more questions than it answers. The listing is for 432 24th, a 3br/3ba, 1968 sq. ft.…
Often the headlines scream "too good to be true," and you know what they say about things that sound that way. Mmmm-hmmm.
Squeezed between the FSBOs and faux-FSBOs, the REOs and faux-REOs, and advertisements by real estate agents for properties they are not actually selling, there are also some postings by the actual agents selling some homes.
And then there's one current posting that is a little bit of all these things. A posting that just keeps appearing and reappearing and re-reappearing, raising more questions than it answers. The listing is for 432 24th, a 3br/3ba, 1968 sq. ft.…MB Market Update for 3/15/09, Sand
Monday, March 23rd, 2009 at 4:33am. 113 Views, 0 Comments.
Last week we covered market activity in the Hill Section for the first half of March. Now a brief update on activity in the Sand Section, with updates past March 15 where appropriate.
Inventory in the Sand stood at 57 at mid-month, with 26 of those SFR listings priced below $2m, and 31 priced higher.
Among these there were 5 new listings:
Inventory in the Sand stood at 57 at mid-month, with 26 of those SFR listings priced below $2m, and 31 priced higher.
Among these there were 5 new listings:
- 112 19th Place is a clean, if somewhat dated, cottage (3br/2ba, 1500 sq. ft.) right along Ocean that only lasted 7 days at $1.295m;
408 9th (pictured) (4br/3ba, 2300 sq. ft.) is a mid-block, flat walkstreet remodel that was pretty much the classic example of the breed, and it sold quickly (within 2 weeks, though after the March 15 close on our spreadsheets), priced at $2.299m;
- 316 16th (5br/6ba, 3050 sq. ft.) is a
Weekend Opens (3/21-3/22)
Saturday, March 21st, 2009 at 4:30am. 128 Views, 0 Comments.
This weekend is not the same kind of treat we've had recently, with lots of new offerings.
Indeed, there are no exciting new SFR listings in the Sand Section, so we've skipped it.
An abbreviated list of weekend opens follows. Note, in particular, 660 33rd in the Trees. It has been around a while, but we're trying to gin up interest here as we consider running a pricing poll on it next week. (Per a reader suggestion.)
Click here for the complete list of opens published in the Beach Reporter, or at any time use the link in the right-hand column under "Prop. Search Tools." As always, click on any highlighted address for more pics & details via Redfin.
We ask MBC readers who visit these homes – or any open houses – to also report back. Tell us what you see, what…
Indeed, there are no exciting new SFR listings in the Sand Section, so we've skipped it.
An abbreviated list of weekend opens follows. Note, in particular, 660 33rd in the Trees. It has been around a while, but we're trying to gin up interest here as we consider running a pricing poll on it next week. (Per a reader suggestion.)
Click here for the complete list of opens published in the Beach Reporter, or at any time use the link in the right-hand column under "Prop. Search Tools." As always, click on any highlighted address for more pics & details via Redfin.
We ask MBC readers who visit these homes – or any open houses – to also report back. Tell us what you see, what…
Still Slow on Poinsettia
Friday, March 20th, 2009 at 4:55pm. 106 Views, 0 Comments.
2300 Poinsettia is moving ever so gradually toward market value.Recall that this rather well-executed remodel (4br/3ba, 2050 sq. ft.) began in November at $1.749m.
That was a deliberate overreach at a difficult time in the market. MBC called a pricing poll (see "Pricing Poll: 2300 Poinsettia"). Side note: re-listing has wiped away records of this home's start price – the current listing looks like the home began at $1.599m, but MBC readers know better.
With a cut this week to $1.499m, 2300 Poinsettia may be getting toward where it needs to be. There are 2 other Tree Section homes in the $1.4m+ range that are comparable:
- 1813 Pacific (4br/3ba, 2135 sq. ft.) began last July at $1.599m, took time off, and is now at $1.469m.
- 1800 Poinsettia (3br/3ba, 2300
Good News on Sea-Level Rise?
Friday, March 20th, 2009 at 4:02am. 145 Views, 0 Comments.
If you tune in to the science and politics of global warming/climate change from time to time, you know it's much grimmer than the financial news of the past 6-18 months.
Against that backdrop, maybe we can muster some good news: Manhattan Beach does not appear to be much threatened by the sea-level rises that are projected as a byproduct of climate change. At least for the balance of this century.
This is a conclusion drawn from computer models published as part of a recent report by the Pacific Institute (click to go to the main page for the report).
Multiple maps are available (click for the map page), including an interactive Google map that shows the areas of coastal and inland areas at risk of flooding with higher sea levels. (A very cool tool – zoom in…
Against that backdrop, maybe we can muster some good news: Manhattan Beach does not appear to be much threatened by the sea-level rises that are projected as a byproduct of climate change. At least for the balance of this century.
This is a conclusion drawn from computer models published as part of a recent report by the Pacific Institute (click to go to the main page for the report).
Multiple maps are available (click for the map page), including an interactive Google map that shows the areas of coastal and inland areas at risk of flooding with higher sea levels. (A very cool tool – zoom in…
