December 2009 
There are 24 blog entries for December 2009.
High/Low Prices of 2009, Hills
Thursday, December 31st, 2009 at 6:00pm. 137 Views, 0 Comments.
We'll wrap up 2009 with a look at the highest and lowest prices paid for SFRs west of Sepulveda.
This post will focus on the Hill Section. We'll follow up with more on the Sand & Tree Sections soon in later posts. For the 2008 wrap-up, click here.
One nice improvement over last year's post – clicking on property links now takes you to the full-feature listing pages, even for most closed sales, thanks to some hard work by Redfin to unleash that information. Redfin's improvement on already-great search is definitely one of our favorite side stories of 2009. Enjoy.
Hill Section
Highest price: 218 Anderson aimed high this year, beginning very near $10m ($9.988m) in February. Had it sold near there, it would have been on a par with last year's top-dollar sale, 900…
This post will focus on the Hill Section. We'll follow up with more on the Sand & Tree Sections soon in later posts. For the 2008 wrap-up, click here.
One nice improvement over last year's post – clicking on property links now takes you to the full-feature listing pages, even for most closed sales, thanks to some hard work by Redfin to unleash that information. Redfin's improvement on already-great search is definitely one of our favorite side stories of 2009. Enjoy.
Hill Section
Highest price: 218 Anderson aimed high this year, beginning very near $10m ($9.988m) in February. Had it sold near there, it would have been on a par with last year's top-dollar sale, 900…Close the Books on 815 2nd
Tuesday, December 29th, 2009 at 5:21am. 187 Views, 0 Comments.
This time of year, most of the action is in closed sales. And so, again, we're wrapping up the story of a longtime local listing that had hit the rocks, but finally has new owners.
815 2nd was a speckie that flopped badly and recently sold in bankruptcy court for $2.650m. That's -$2.145m/-45% off the home's start price from nearly 2 years ago.
It's big (5br/5ba, 4725 sq. ft.), modeled in the increasingly popular Cape Cod style, and offers ocean views – better than expected given the location just partway up the hill from Ardmore. All that and more, as MBC noted in a previous story:
815 2nd was a speckie that flopped badly and recently sold in bankruptcy court for $2.650m. That's -$2.145m/-45% off the home's start price from nearly 2 years ago.It's big (5br/5ba, 4725 sq. ft.), modeled in the increasingly popular Cape Cod style, and offers ocean views – better than expected given the location just partway up the hill from Ardmore. All that and more, as MBC noted in a previous story:
- a cool lower level (too bright to call a "basement") with a tiered home theater;
- lots of crisp finishes and fine details;
- the design favors lots of cozy, private spaces over
Close the Books on 2812 Elm
Monday, December 28th, 2009 at 5:15am. 161 Views, 0 Comments.
We have now seen the ending to a saga that involved a home's being offered for sale for more than 800 days.
2812 Elm has just closed for $1.325m, but it's what happened between 2004 and 2009 that makes for a revealing and cautionary tale about the local housing bubble.
Elm was remodeled completely in 1999 and held until February 2004, when it sold for $1.299m. That was a healthy sum then for an attractive, average-sized home (4br/4ba, 2500 sq. ft.) with a couple of layout issues – an oddly split second level and a downstairs bedroom off the kitchen.
Not so many months later (16 months, to be exact), the new owners were out. As the local bubble inflated rapidly, they saw a nice profit as they turned over the keys. They sold for $1.584m in June 2005, a 22%…
2812 Elm has just closed for $1.325m, but it's what happened between 2004 and 2009 that makes for a revealing and cautionary tale about the local housing bubble.Elm was remodeled completely in 1999 and held until February 2004, when it sold for $1.299m. That was a healthy sum then for an attractive, average-sized home (4br/4ba, 2500 sq. ft.) with a couple of layout issues – an oddly split second level and a downstairs bedroom off the kitchen.
Not so many months later (16 months, to be exact), the new owners were out. As the local bubble inflated rapidly, they saw a nice profit as they turned over the keys. They sold for $1.584m in June 2005, a 22%…
Holiday Open Forum (12/27- )
Sunday, December 27th, 2009 at 3:11am. 226 Views, 0 Comments.
Here's hoping all's well for you & yours, and a special thanks for hanging in there while MBC took a little unannounced holiday break.
Don't get the impression that 2010 will be a slow year here. Anything but.
We'll pick up the pace in earnest on Monday, but first, we knew it was time for a new "Open Forum."
Just one immediate topic of broader interest – the 360 South Bay development (El Segundo Blvd. @ the 405) is suddenly breathing again. Well, planned to breathe again in Feb. 2010.
The developers have been buying ads (including those faux news sections of the newspaper) and sprucing up their website (check out the quick cuts on the developers' website) to whip up interest in the unfinished resort condoplex-to-be.
All along, they're hyping the development's…
Don't get the impression that 2010 will be a slow year here. Anything but.
We'll pick up the pace in earnest on Monday, but first, we knew it was time for a new "Open Forum."
Just one immediate topic of broader interest – the 360 South Bay development (El Segundo Blvd. @ the 405) is suddenly breathing again. Well, planned to breathe again in Feb. 2010.
The developers have been buying ads (including those faux news sections of the newspaper) and sprucing up their website (check out the quick cuts on the developers' website) to whip up interest in the unfinished resort condoplex-to-be.
All along, they're hyping the development's…
Strand Sales of 2009
Wednesday, December 23rd, 2009 at 4:47am. 143 Views, 0 Comments.
During MBC's first 2 full years online, very few Strand properties changed hands.
In 2009, it was a minor flood. (And we use such a term cautiously in reference to our town's tony tsunami zone.)
Many Strand properties were offered, many were taken. Here's the list of sales, lowest-priced to highest (click any highlighted address for more pics & details via Redfin):
In 2009, it was a minor flood. (And we use such a term cautiously in reference to our town's tony tsunami zone.)
Many Strand properties were offered, many were taken. Here's the list of sales, lowest-priced to highest (click any highlighted address for more pics & details via Redfin):
- 3216 The Strand almost certainly winds up as a lot sale, given that the duplex on site is deeply flawed. (The listing leads with "Best priced piece of land available on The Strand.") However, it's still occupied for the time being.
We'll Take the Gaslamp
Monday, December 21st, 2009 at 5:26am. 173 Views, 0 Comments.
A sharpened-up little postwar cottage in the gaslamp district just went for about a million, over at 528 24th. (Click for more pics & details via Redfin.)
Here are some things about this taut little remodel that are not for the average family moving into MB:
- 2 bedrooms.
- 1200 sq. ft.
- Not much of a yard on a 2700-odd sq. ft. lot, a size common to the area.
Add to all that the sense of getting a discount of sorts, and it feels right.
The same home was…
MB Market Update for 12/15/09, Hill & Sand
Thursday, December 17th, 2009 at 5:14am. 148 Views, 0 Comments.
As we noted yesterday, the new MB Market Update spreadsheets are online for your viewing by clicking here, or at any time by using the pull-down menu at the top of the page under "MB Market Updates." The current update, dated 12/15/09, covers the first 2 weeks of this month.
Our first post on this month's activity so far covered the Tree Section, a little inversion of the norm that helped us make up for a missing update. It also meant we focused right away on where much of the buying action was in December.
Back we go now to the Hill Section and Sand. (For the 11/30/09 updates on these regions, click here for Hills and here for Sand.)
Hill Section
Inventory is getting scarce in the Hills now, down to 8 as we near year end. (Click here for the list of…
Our first post on this month's activity so far covered the Tree Section, a little inversion of the norm that helped us make up for a missing update. It also meant we focused right away on where much of the buying action was in December.
Back we go now to the Hill Section and Sand. (For the 11/30/09 updates on these regions, click here for Hills and here for Sand.)
Hill Section
Inventory is getting scarce in the Hills now, down to 8 as we near year end. (Click here for the list of…
MB Market Update for 12/15/09, Trees
Wednesday, December 16th, 2009 at 4:37am. 123 Views, 0 Comments.
The year's almost out. Just one more MB Market Update for 2009 after this.
The new MB Market Update spreadsheets are online for your viewing by clicking here, or at any time by using the pull-down menu at the top of the page under "MB Market Updates." The current update, dated 12/15/09, covers the first 2 weeks of this month.
Remember, you can easily click between the different pages (seeing MB by region, and by active or sold) using the blue tabs at the top of the page.
December so far has seen a nearly equal number of new listings and sales (new escrows), 5 new offerings and 4 new deals made. Also, 2 listings returned to active status during this period shortly after cancellations last month.
With 5 more pre-holiday dropouts, there's another net reduction…
The new MB Market Update spreadsheets are online for your viewing by clicking here, or at any time by using the pull-down menu at the top of the page under "MB Market Updates." The current update, dated 12/15/09, covers the first 2 weeks of this month.
Remember, you can easily click between the different pages (seeing MB by region, and by active or sold) using the blue tabs at the top of the page.
December so far has seen a nearly equal number of new listings and sales (new escrows), 5 new offerings and 4 new deals made. Also, 2 listings returned to active status during this period shortly after cancellations last month.
With 5 more pre-holiday dropouts, there's another net reduction…
Reminder: Please Take the Survey
Tuesday, December 15th, 2009 at 6:56pm. 125 Views, 0 Comments.
We'll have a little more content later today, but it's time for a quick reminder: If you have not already, please take the MBC reader survey.
We're near 200 responses now, a fabulous rate of participation. Thanks to everyone who has already chimed in.
Though the survey will take you 5-8 minutes, it seems to hold people's attention: 98% of those who start it complete it. (And one non-completer was a relative of your blog author who confessed to skipping the questions.)
This survey is your chance to tell us how we're doing and steer the development of the site in the future. Please take it today!
We're near 200 responses now, a fabulous rate of participation. Thanks to everyone who has already chimed in.
Though the survey will take you 5-8 minutes, it seems to hold people's attention: 98% of those who start it complete it. (And one non-completer was a relative of your blog author who confessed to skipping the questions.)
This survey is your chance to tell us how we're doing and steer the development of the site in the future. Please take it today!
How Much Would You Pay to Bring a Buyer?
Monday, December 14th, 2009 at 9:29pm. 148 Views, 0 Comments.
When you list your home for sale, you decide who gets paid, and how much, for helping.
The always-negotiable standard commission rate, in total, is about 6% – with half to the listing agent and half to the buyer's representative. In the South Bay, it seems the standard is closer to 5%, given higher prices (i.e., same or more money even at a lower commission rate), which means 2.5% per side.
Of course, a small percentage of a large number is still a lot of money. When you sell your house, you want the money. So people look for ways to cut costs.
From the listing side, you have options to save. You might go FSBO, maybe use a low- or flat-fee service to put your property on the MLS and wait to see what happens. (A letter-writer in yesterday's LA Times claims…
The always-negotiable standard commission rate, in total, is about 6% – with half to the listing agent and half to the buyer's representative. In the South Bay, it seems the standard is closer to 5%, given higher prices (i.e., same or more money even at a lower commission rate), which means 2.5% per side.
Of course, a small percentage of a large number is still a lot of money. When you sell your house, you want the money. So people look for ways to cut costs.
From the listing side, you have options to save. You might go FSBO, maybe use a low- or flat-fee service to put your property on the MLS and wait to see what happens. (A letter-writer in yesterday's LA Times claims…
