November 2009 
There are 27 blog entries for November 2009.
Pricing Poll: 1801 Elm
Monday, November 30th, 2009 at 4:22am. 152 Views, 0 Comments.
It's likely that the little stretch of Elm between 17th and 19th streets hasn't been so busy for years.
Saturday's open house at 1801 Elm was a throwback to the frenzied days of the real estate bubble. That era when a first public open was often an event, with constant caravans of people coursing through, excited chatter on-site about the price the sellers might get, a neighborhood crawling with people carrying the flyer from the open... Saturday's open had all that.
There was something different, too, about the crowd. Because 1801 Elm will be auctioned off, and got listed with an utterly fake, ultra-low MLS start price of $399k, the added mystery – what's it worth? can you really get a house in MB for that? – drew interest from all over. (There's no true…
Saturday's open house at 1801 Elm was a throwback to the frenzied days of the real estate bubble. That era when a first public open was often an event, with constant caravans of people coursing through, excited chatter on-site about the price the sellers might get, a neighborhood crawling with people carrying the flyer from the open... Saturday's open had all that.
There was something different, too, about the crowd. Because 1801 Elm will be auctioned off, and got listed with an utterly fake, ultra-low MLS start price of $399k, the added mystery – what's it worth? can you really get a house in MB for that? – drew interest from all over. (There's no true…
Sunday Opens (11/29)
Sunday, November 29th, 2009 at 5:11am. 137 Views, 0 Comments.
No question, the headline open house already happened: Saturday's frenzied probate-auction open at 1801 Elm. A bit like the "old days" there. More on that one this coming week, along with a pricing poll.
Of course, this holiday weekend's pickings are limited, but there are some worth a peek.
Click here for the complete list of opens published in the Beach Reporter, or at any time use the link from the "Property Search Tools" pull-down menu in the top navigation bar.
As always, click any highlighted property address for more pics & details via Redfin. Please report back here at MBC on any open houses you visit – what you like, what you don't like, etcetera.
East MB
What would any weekend be without another open at 116 Terraza? This time they're celebrating a $1m…
Of course, this holiday weekend's pickings are limited, but there are some worth a peek.
Click here for the complete list of opens published in the Beach Reporter, or at any time use the link from the "Property Search Tools" pull-down menu in the top navigation bar.
As always, click any highlighted property address for more pics & details via Redfin. Please report back here at MBC on any open houses you visit – what you like, what you don't like, etcetera.
East MB
What would any weekend be without another open at 116 Terraza? This time they're celebrating a $1m…
Probate Auction: Open This Sat.
Wednesday, November 25th, 2009 at 9:45pm. 169 Views, 0 Comments.
Just a brief reminder, if you're at all interested in the probate auction home at 1801 Elm, its one and only public open is this Saturday, Nov. 28, from 12:30-2:30.
Yes, everything's unusual about that: holiday weekend, Saturday and an early start & close.
They're figuring that the motivated buyers will be there.
Bring your questions and maybe your inspector. (We've already picked up from the rumble of commentary that the structure can't be rescued, but we'll see.)
The auction is next Sunday, Dec. 6. Next week MBC will run a pricing poll asking you to predict the auction outcome. So even if you're not bidding, check it out if you can.
New & Gone
Tuesday, November 24th, 2009 at 5:14am. 150 Views, 0 Comments.
They're not making new land around here anymore (old joke), but they're also not making many new homes, either – at least not for the spec market.
In the past week or so, the limited inventory of available and pending new construction has begun to close out even more.
Lots of echoes of 229 24th in 332 20th, another beaut by the same builder, which was new in 2008 and is recently back on…
In the past week or so, the limited inventory of available and pending new construction has begun to close out even more.
229 24th, a gorgeous big (5br/4ba, 4200 sq. ft.) Spanish west of Highland, has now closed for $4.2m. (Click address for pics & details via Redfin.)
Lots of echoes of 229 24th in 332 20th, another beaut by the same builder, which was new in 2008 and is recently back on…
Would-Be Flip Returns as REO
Monday, November 23rd, 2009 at 4:44am. 156 Views, 0 Comments.
We're headed back again to the MBC story vault to pull up some history on a "new" listing.
758 14th, part of the Arbolado Court development near American Martyrs and Pacific School, recently went back to the bank, and is now offered to the public at $1,356,300. (Yes, that is the exact price, for whatever reason.)
Oh yes, we remember 758 14th. After appearing on MBC during the blog's very first month (see "On Second Thought, Let's Flip It"), 758 made several later cameos, as neighboring houses hit the market. Two of those sold, one quit after a little toe-dip. But 758 never sold; it rented out before the evident distress situation gradually took over and the bank got the keys.
So let's go back, first, to July 2006. That's when the 4br/3ba, 3050 sq. ft. home…
758 14th, part of the Arbolado Court development near American Martyrs and Pacific School, recently went back to the bank, and is now offered to the public at $1,356,300. (Yes, that is the exact price, for whatever reason.)
Oh yes, we remember 758 14th. After appearing on MBC during the blog's very first month (see "On Second Thought, Let's Flip It"), 758 made several later cameos, as neighboring houses hit the market. Two of those sold, one quit after a little toe-dip. But 758 never sold; it rented out before the evident distress situation gradually took over and the bank got the keys.
So let's go back, first, to July 2006. That's when the 4br/3ba, 3050 sq. ft. home…
A Lull in 'Weekend Opens'
Sunday, November 22nd, 2009 at 5:06am. 166 Views, 0 Comments.
Fewer sellers, fewer buyers, less new inventory. That's the holiday season.
It also means our "Weekend Opens" feature often lacks compelling new offerings.
We're taking this weekend off, holding out some chance for next weekend (after Turkey Day). We'll definitely be running the following weekend with the Dec. 6 auction at 1801 Elm.
Through year-end, we'll run either limited features or none, depending on inventory.
Like most readers, we prefer the "Weekend Opens" feature when there's lots to see and talk about.
In between now and the Super Bowl, we'll try to keep it interesting.
Just in case you do go out this weekend, remember to post here about what you like or don't like. The current list of opens can be viewed by clicking here or, at any time, by using the…
It also means our "Weekend Opens" feature often lacks compelling new offerings.
We're taking this weekend off, holding out some chance for next weekend (after Turkey Day). We'll definitely be running the following weekend with the Dec. 6 auction at 1801 Elm.
Through year-end, we'll run either limited features or none, depending on inventory.
Like most readers, we prefer the "Weekend Opens" feature when there's lots to see and talk about.
In between now and the Super Bowl, we'll try to keep it interesting.
Just in case you do go out this weekend, remember to post here about what you like or don't like. The current list of opens can be viewed by clicking here or, at any time, by using the…
MB Market Update for 11/15/09, Trees
Friday, November 20th, 2009 at 5:14am. 133 Views, 0 Comments.
Let's wrap up our look at the first half of this month with a look at Tree Section activity.
Recall from our first story that active SFR inventory in the Trees stood at 34 by MBC's count. Click here for Tree section actives as of 11/15 priced below $1.5m, and here for actives above $1.5m.
What's new?
How about a misguided flip attempt, a probate auction house and a 2007 acquisition that's marked up a bit – for now. To wit:
Recall from our first story that active SFR inventory in the Trees stood at 34 by MBC's count. Click here for Tree section actives as of 11/15 priced below $1.5m, and here for actives above $1.5m.
What's new?
How about a misguided flip attempt, a probate auction house and a 2007 acquisition that's marked up a bit – for now. To wit:
- The '07 acquisition is 937 27th, a late-90s build (4br/4ba, 3150 sq. ft.) that was brought up to crisp, 21st-century standards just last year by the newest owners.
Getting Out Before It Gets Worse
Thursday, November 19th, 2009 at 5:19am. 149 Views, 0 Comments.
They say no one's got a crystal ball, so no one knows what's next for local housing prices.
Meantime, some sellers need to take the best deals they can get and move on. Don't wait for better times – get out soon in case things get worse.
On Tuesday, 513 N. Dianthus closed for $1.640m. (Click address for pics & details via Redfin.)
Not bad for a 3br/3ba, 2470 sq. ft. home that was "completely upgraded" (listing) only last year, with a high-end kitchen and modern baths leading the way in the pricey re-do.
That whole remodel was actually some kind of a gift to the new owners, as the closed price was $10k below the sellers' pre-remodel, Oct. 2007 acquisition price ($1.650m).
Though this listing began in May at $1.899m, enough to pay for the work, it must have been…
Meantime, some sellers need to take the best deals they can get and move on. Don't wait for better times – get out soon in case things get worse.
On Tuesday, 513 N. Dianthus closed for $1.640m. (Click address for pics & details via Redfin.)Not bad for a 3br/3ba, 2470 sq. ft. home that was "completely upgraded" (listing) only last year, with a high-end kitchen and modern baths leading the way in the pricey re-do.
That whole remodel was actually some kind of a gift to the new owners, as the closed price was $10k below the sellers' pre-remodel, Oct. 2007 acquisition price ($1.650m).
Though this listing began in May at $1.899m, enough to pay for the work, it must have been…
MB Market Update for 11/15/09, Sand
Wednesday, November 18th, 2009 at 5:01am. 163 Views, 0 Comments.
The other day we took a first look at data from the opening 2 weeks of November, and focused on some specific activity in the Hill Section.
Now let's look at what's going on by the beach.
Recall that there were 33 actives in the Sand Section as of 11/15/09. Here are links to the actives priced below $2m, and to actives above $2m.
New to the market were 3 listings, 2 priced below acquisition and one offered as a short sale:
Now let's look at what's going on by the beach.
Recall that there were 33 actives in the Sand Section as of 11/15/09. Here are links to the actives priced below $2m, and to actives above $2m.
New to the market were 3 listings, 2 priced below acquisition and one offered as a short sale:
- 528 24th is a taut, sharply remodeled little 2br/1ba, 1200 sq. ft. cottage in the gaslight area. Current owners paid $1.250m in Oct. 2006, now seek $1.150m;
- 123 44th is a 2007 acquisition that's short, though it's offered at precisely the Jan. 2007 price of $1.490m. Someone's going to need to break some bad news to the bank (see
Open Forum (11/18- )
Wednesday, November 18th, 2009 at 4:41am. 202 Views, 0 Comments.
Christmas lights: lovely to look at, fun to hang up have someone else install, a great celebration, even if they are a sub-optimal use of electricity.
All over town, the lights are up early, early, early this year.
Up, and on.
A week after Halloween, they were going up. This had to be a record.
Is this some kind of bargain-hunting? Crews are offering deals, maybe, for those who get an early start?
Are we helpin' the workin' man? The under-employed who could use the extra gig to make ends meet?
Either way, if these early lights in our better-off community are some kind of strange reflection of recessionary 2009, then maybe it's great that they're up early.
Now, shut them off.
Because Christmas lights don't go on till after Thanksgiving. In some places it's rude…
