April 2009 
There are 28 blog entries for April 2009.
Askew Down South
Thursday, April 30th, 2009 at 5:50am. 151 Views, 0 Comments.
Listings in the South End of the Sand Section are becoming clogged with tiny, spiffy remodels held less than 2 years.
This is a…
- MBC has already discussed 325 4th at some length (see "When We Say Walkstreet..."). That one's a 2br/1ba and 650 sq. ft. on a half lot with no garage or street access. It began at $899k and remains there. Purchased in Jan. 2008 for $718k before the spiffing up.
This week, another half-lot walkstreet home joined the mix: 316 9th (pictured).
This is a…
Back from the Bank
Wednesday, April 29th, 2009 at 5:40am. 135 Views, 0 Comments.
It has been a wild year for the new, different house at 2504 Poinsettia.Early in May 2008, this new home burst out of the gates, advertising itself as "Not your typical cookie-cutter home!"
And it's not.
The 4br/4ba, 3200 sq. ft. home is essentially an Asian-inspired contemporary. We've never seen this particular layout, which puts all 4 bedrooms downstairs, 3 of them dormlike, boxy, on the north (shady) side.
And we might not see this layout again, given what's transpired.
With unbridled enthusiasm, this newbie was priced at $2.499m last year to begin – which proved to be preposterous.
Over time, listing agents changed and prices changed – reaching as low at $1.649m earlier this year. Default notices were filed, and, in February this year, the home went back…
Beauty Calls
Tuesday, April 28th, 2009 at 4:04pm. 130 Views, 0 Comments.
Amid a sea of stale listings and mega-dollar properties, there's one new, sensibly sized offering up on the plateau that's generating all the buzz.464 33rd is cute – a word MBC uses sparingly, but did just dish out a week ago for 1600 Elm.
Offering 3br/3ba, 2540 sq. ft. and slotted near the end of a cul-de-sac street, the remodel drew mobs over the weekend. Start price of $1.599m seems about right today.
Your blog author has missed out so far, but the home drew raves from MBC readers, including:
- clean, feels bigger than its 2500 square feet, and has a decent roof deck to boot
- Awesome pad!! For the house, location and price....very solid deal. I could see this one getting bid up. I've looked at a lot of properties over the past 2 years in all parts of MB
Another Week, Another Titan
Tuesday, April 28th, 2009 at 12:08am. 164 Views, 0 Comments.
A couple of years passed here when we saw virtually no Strand listings, and certainly no spec homes. That's changing.
Back in late 2007, 1212 The Strand (4br/5ba, 4600 sq. ft.), a gently used modern, went for $10.7m. (See "Highest Sale Prices of 2007" or "And Then There Were 4.")
This year, besides the growing number of Strand offerings of many kinds, we also have seen 2 speckies:
At 3516 The Strand, the home's got a name, even though it's not quite yet complete. It'll be "Villa Toscana…
Back in late 2007, 1212 The Strand (4br/5ba, 4600 sq. ft.), a gently used modern, went for $10.7m. (See "Highest Sale Prices of 2007" or "And Then There Were 4.")
This year, besides the growing number of Strand offerings of many kinds, we also have seen 2 speckies:- 1712 The Strand, which recenlty sold for $9.0m (see "The Strand for a Mil, or 10"), and
- now 3516 The Strand (pictured), which begins at $13.999m.
At 3516 The Strand, the home's got a name, even though it's not quite yet complete. It'll be "Villa Toscana…
Weekend Opens (4/25-4/26)
Saturday, April 25th, 2009 at 5:24am. 148 Views, 0 Comments.
First things first, we're making a small change to the comment system – disabling the "threading" that was initially an attraction of the new system.
They've done some "upgrades" recently to the system, and you know what that means: bugs.
As to actual real estate news, though there are plenty of Hill Section offerings this weekend, none are new, so if you're interested in the Hills, we'll just refer you this week to the complete list of opens published in the Beach Reporter, which you can find at any time using 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 in the comments here.…
They've done some "upgrades" recently to the system, and you know what that means: bugs.
As to actual real estate news, though there are plenty of Hill Section offerings this weekend, none are new, so if you're interested in the Hills, we'll just refer you this week to the complete list of opens published in the Beach Reporter, which you can find at any time using 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 in the comments here.…
Newest Below '06 Prices
Friday, April 24th, 2009 at 2:33pm. 130 Views, 0 Comments.
Further evidence is now in – just in case it was needed – to show that 2006-08 prices are but a memory, and MB is probably somewhere around 2005 or 2004 prices now, depending.
New on market, and priced below acquisition to begin, is 501 4th (5br/5b, 4100 sq. ft.) down in the quiet South End, a corner lot nestled against sleepy Ingleside.
The home is newer (2005 build) with big bedrooms, nice outdoor spaces and a bright kitchen. That increasingly common must-have feature, an elevator, is part of the deal, too.
Purchase price in June 2006: $2.750m, before the owners did some additional customization. Start price now: $2.599m, and a pretty amazing $640/PSF.
881 10th (5br/6ba, 4000 sq. ft.) is a big custom home labeled "French" in style, due in part to the…
New on market, and priced below acquisition to begin, is 501 4th (5br/5b, 4100 sq. ft.) down in the quiet South End, a corner lot nestled against sleepy Ingleside.The home is newer (2005 build) with big bedrooms, nice outdoor spaces and a bright kitchen. That increasingly common must-have feature, an elevator, is part of the deal, too.
Purchase price in June 2006: $2.750m, before the owners did some additional customization. Start price now: $2.599m, and a pretty amazing $640/PSF.
881 10th (5br/6ba, 4000 sq. ft.) is a big custom home labeled "French" in style, due in part to the…Open Forum (4/23- )
Thursday, April 23rd, 2009 at 5:33am. 847 Views, 0 Comments.
Whose schools are being bailed out by whom?School finance in California is about as complex as you can get, except for all the other methods.
In MB, it's actually a little bit simpler than in some other parts of LA, or the state.
We get the standard allocations, but not much extra. Private nonprofits (i.e., parents) pay for a lot.
And now the city is in on the deal, big-time.
It was somewhat necessary last year. A few hundred k in direct assistance from the city to the school district.
This year: $1.3 million, direct from city coffers, er, reserves. (See the Daily Breeze story.)
Can MB afford it? Actually the city will now run a $5m deficit, which is supposed to be of little concern because we've got those reserves. (For some more detail, see MBC's story from 2…
Bits from the Week
Wednesday, April 22nd, 2009 at 5:15am. 146 Views, 0 Comments.
No big trend story here, but a few notable changes on some listings:
Cheap in the Hills: 402 Larsson (pictured), a smallish (3br/3ba, 1800 sq. ft.) fixer on the "wrong" side of Larsson, has a deal – last at $875k.
Big in the Hills: 511 Pacific, a huge home (5br/8ba, 8300 sq. ft.) that we've pointed to a few times this year (see "2 Classy Hillies Down $2m") has canceled about 6 months after first going on public offer. Last at $5.995m.
Dropping in the Hills: 717 N. Poinsettia (4br/5ba, 4175 sq. ft.) is now at $3.449m, down $1.2m from start last November. You're now looking at a unique, incredibly landscaped and private corner-lot home priced $100k below the recent acquisition price of the equally sized lot next door. (Construction now at framing.) Listing now…
Cheap in the Hills: 402 Larsson (pictured), a smallish (3br/3ba, 1800 sq. ft.) fixer on the "wrong" side of Larsson, has a deal – last at $875k.Big in the Hills: 511 Pacific, a huge home (5br/8ba, 8300 sq. ft.) that we've pointed to a few times this year (see "2 Classy Hillies Down $2m") has canceled about 6 months after first going on public offer. Last at $5.995m.
Dropping in the Hills: 717 N. Poinsettia (4br/5ba, 4175 sq. ft.) is now at $3.449m, down $1.2m from start last November. You're now looking at a unique, incredibly landscaped and private corner-lot home priced $100k below the recent acquisition price of the equally sized lot next door. (Construction now at framing.) Listing now…
Another Strand Titan
Tuesday, April 21st, 2009 at 7:01pm. 155 Views, 0 Comments.
There's nothing like a corner lot on The Strand, a signature MB location.
Santa Monica: No Strand. About 10 homes on the sand.
Venice: Yeah, but...
MDR/PDR: Well-kept secrets.
Redondo: Condos.
Hermosa: Second only to MB.
Yeah, we're feeling provincial because a place like 1800 The Strand justifies a little civic pride.
This 5br/6ba, 5325 sq. ft. contemporary is now on offer at $13.5 million.
That's more than $2,500/PSF, but how do you measure that location?
Nearby, a new home at 1712 The Strand (3br, 4500 sq. ft.) recently sold for $9m, about $2k/PSF, but that was mid-block. (See "The Strand for a Mil, or 10.")
1800 The Strand is, incidentally, at the junction of 2 of MBC's "Great Streets," The Strand and 18th (see "Great Streets: 18th St. (Sand)"), which the…
Santa Monica: No Strand. About 10 homes on the sand.
Venice: Yeah, but...
MDR/PDR: Well-kept secrets.
Redondo: Condos.
Hermosa: Second only to MB.
Yeah, we're feeling provincial because a place like 1800 The Strand justifies a little civic pride.This 5br/6ba, 5325 sq. ft. contemporary is now on offer at $13.5 million.
That's more than $2,500/PSF, but how do you measure that location?
Nearby, a new home at 1712 The Strand (3br, 4500 sq. ft.) recently sold for $9m, about $2k/PSF, but that was mid-block. (See "The Strand for a Mil, or 10.")
1800 The Strand is, incidentally, at the junction of 2 of MBC's "Great Streets," The Strand and 18th (see "Great Streets: 18th St. (Sand)"), which the…
Double Deal
Monday, April 20th, 2009 at 6:07pm. 172 Views, 0 Comments.
With a new cut Monday morning, the double-lot at 2900 Maple looks like the best deal on dirt in MB.The bucks are still many – $1.749m to be exact – but that will net you dirt equivalent to 2 full-size lots (2 x 4640 sq. ft.) with an aging rancher on the property. (The pool looks inviting this week.)
A local spec builder grabbed 2900 Maple for $2.555m in Feb. 2007, clearly intending to split the lot for 2 new cookie cutters. (Price paid was equal to $1.277m per lot after a split.)
Now, 2 years later, the new price is a drop of $806k (-32%) from that height. No wonder, then, that this is now posted as a short sale.
The most recent, comparable lot transaction we saw in the Trees was at 1900 Laurel, a plus location offering a larger-than-normal 6000 sq. ft. lot…
