February 2010 
There are 25 blog entries for February 2010.
Sunday Opens (2/28)
Sunday, February 28th, 2010 at 4:08am. 131 Views, 0 Comments.
February looks like it's going to close out with 38 new SFR offerings west of Sepulveda – a bumper crop here in Winter as Spring officially approaches.
Once again that means plenty of new offerings for open-house viewing.
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.
Hill Section
1009 8th (5br/5ba, 4550 sq. ft.) is a big, newer (2004) home with a big sense of space, including amply sized secondary bedrooms. On this 7200 sq. ft. lot, you…
Once again that means plenty of new offerings for open-house viewing.
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.
Hill Section
1009 8th (5br/5ba, 4550 sq. ft.) is a big, newer (2004) home with a big sense of space, including amply sized secondary bedrooms. On this 7200 sq. ft. lot, you…2305 Pine Is Back, 3 Years Later
Friday, February 26th, 2010 at 4:44am. 165 Views, 0 Comments.
Three years will give you some perspective.
The very first post here at MBC, back in March 2007, concerned 2305 Pine, a home that was for sale then, and is for sale again now.
Way-back-when, your blog author was aghast that 2305 Pine – and one other listing – had increased its price by $100k. That didn't seem like a smart way to sell a property in a market that appeared to be declining.
But you know what they say about predicting...
Your blog author's opinion about the market, in general, in that first post has proved to be right. We've seen prices slide 15-20% or more since MBC launched with a public statement that home prices locally were dropping.
But boy, were we wrong about 2305 Pine.
Pine began at $1.495m almost 3 years ago to the day (Feb. 23, 2007).…
The very first post here at MBC, back in March 2007, concerned 2305 Pine, a home that was for sale then, and is for sale again now.Way-back-when, your blog author was aghast that 2305 Pine – and one other listing – had increased its price by $100k. That didn't seem like a smart way to sell a property in a market that appeared to be declining.
But you know what they say about predicting...
Your blog author's opinion about the market, in general, in that first post has proved to be right. We've seen prices slide 15-20% or more since MBC launched with a public statement that home prices locally were dropping.
But boy, were we wrong about 2305 Pine.
Pine began at $1.495m almost 3 years ago to the day (Feb. 23, 2007).…
Neighborhood Runs Coming Up
Thursday, February 25th, 2010 at 9:35pm. 131 Views, 0 Comments.
One of the great little features of life in MB is the school-sponsored runs through town.
Yes, the beachfront MB 5k's in Summer and Winter are great, there's a friendship run/walk in October and, of course, the granddaddy of them all, the MB Hometown 10k.
As a newbie to MB, you'd be forgiven for thinking that everyone in town is a runner.
Where your blog author grew up (wherever that was), we simply didn't have such things. Nor did they shut down our main thoroughfares for a renowned bike race. And fireworks were usually in July, not at Christmas. But we digress.
Here are the upcoming school fundraiser runs:
Martyrs 5k: This Saturday (Feb. 27) at 8am is the first school fundraiser run of the season, a 5k benefiting American Martyrs School. It's the 30th year…
Yes, the beachfront MB 5k's in Summer and Winter are great, there's a friendship run/walk in October and, of course, the granddaddy of them all, the MB Hometown 10k.
As a newbie to MB, you'd be forgiven for thinking that everyone in town is a runner.
Where your blog author grew up (wherever that was), we simply didn't have such things. Nor did they shut down our main thoroughfares for a renowned bike race. And fireworks were usually in July, not at Christmas. But we digress.
Here are the upcoming school fundraiser runs:
Martyrs 5k: This Saturday (Feb. 27) at 8am is the first school fundraiser run of the season, a 5k benefiting American Martyrs School. It's the 30th year…
A Dropout Sells Off-Market
Thursday, February 25th, 2010 at 5:00am. 135 Views, 0 Comments.
One of the more unique properties in the Trees has found a buyer – 1811 Agnes is in new hands as of Wednesday.That's interesting in part because Agnes quit the market in early November, as MBC noted at the time in "A Pair of $2m Dropouts." Speaking of Agnes and one other listing in the story, we said:
Perhaps buyers will get another crack at them after the Super Bowl. In fact, the buyers made their move a couple of weeks before that, in late January, while selling another home in MB.
Let's reach back for a refresher on Agnes, which drew some oohs and ahhhs the couple of times we mentioned it here. From our MB Market Update for 7/31/09:
1811 Agnes (4br/3ba, 3425 sq. ft.) is on perhaps the most isolated street in the Trees, opening down a hill into a…
Long in the Tooth
Wednesday, February 24th, 2010 at 5:04am. 135 Views, 0 Comments.
Yesterday we discussed several listings that have sold quickly here in 2010. But of course, there's some stale inventory out there as well.
That contrast was on full display when 645 12th (pictured) made a price cut early this week amid the minor rush of fast sales. The "new" home near Martyrs is now down to $3.445m, down $1.054m from its start in September 2008, a full 515 DOM ago.
(We're saying "new" in quotes because, while the home is new construction, 515 days was a long time ago – here's a link to our Sept. 2008 open-house feature mentioning the first open. Note that the listing gives 2009 as the build date because that's when the occupancy permit was issued.)
So what else is lingering long-term, getting a little long in the tooth? Let's look by…
That contrast was on full display when 645 12th (pictured) made a price cut early this week amid the minor rush of fast sales. The "new" home near Martyrs is now down to $3.445m, down $1.054m from its start in September 2008, a full 515 DOM ago.(We're saying "new" in quotes because, while the home is new construction, 515 days was a long time ago – here's a link to our Sept. 2008 open-house feature mentioning the first open. Note that the listing gives 2009 as the build date because that's when the occupancy permit was issued.)
So what else is lingering long-term, getting a little long in the tooth? Let's look by…
Spring's Intriguing Signs
Tuesday, February 23rd, 2010 at 3:51am. 209 Views, 0 Comments.
Now there's more evidence that February 2010 is not going to feel much like February 2009.
Now we see not just a noteworthy bounceback in demand, the first buyers of the Spring Selling Season diving in.
We see not just a few quick sales. (MBC first noted a few "impressive" quick sales in "Quickies in the Trees" earlier this month.)
Now we are seeing quick sales on new listings that don't even seem particularly well-priced.
For perspective, let's recall that February 2009 saw 14 new escrows open among SFRs west of Sepulveda, by MBC's count. (See the MB Market Update for 2/28/09.) In February 2008, the sales pace was exactly the same.
This year, we're already up to at least 18, with most of a week left in this short, fairly hot month.
Among the more surprising…
Now we see not just a noteworthy bounceback in demand, the first buyers of the Spring Selling Season diving in.
We see not just a few quick sales. (MBC first noted a few "impressive" quick sales in "Quickies in the Trees" earlier this month.)
Now we are seeing quick sales on new listings that don't even seem particularly well-priced.
For perspective, let's recall that February 2009 saw 14 new escrows open among SFRs west of Sepulveda, by MBC's count. (See the MB Market Update for 2/28/09.) In February 2008, the sales pace was exactly the same.
This year, we're already up to at least 18, with most of a week left in this short, fairly hot month.
Among the more surprising…
Weekend Opens (2/20-2/21)
Saturday, February 20th, 2010 at 4:45am. 117 Views, 0 Comments.
Pitchers & catchers reported this week, certifying that Spring is upon us.
As if those few summery days this week hadn't clued you in.
Here at MBC we're happy with any time of year that means more new listings and more new opens, and this week brings us a goodly new crop.
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.
Hill Section
929 Highview (4br/4ba, 3550 sq. ft.) is for lovers of bold, modern style – or even dabblers.
The local architect…
As if those few summery days this week hadn't clued you in.
Here at MBC we're happy with any time of year that means more new listings and more new opens, and this week brings us a goodly new crop.
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.
Hill Section
929 Highview (4br/4ba, 3550 sq. ft.) is for lovers of bold, modern style – or even dabblers.The local architect…
MB Market Update for 2/15/10, Sand
Friday, February 19th, 2010 at 4:33am. 132 Views, 0 Comments.
In February we finally started to see some action in the form of new listings in the Sand, which had been pretty quiet in January.
Of the 21 new SFR listings in this 2-week period west of Sepulveda, 10 were by the beach. (See the page of Sand Section actives $2m; use the links on our online spreadsheets to view properties directly.) The new listings included...
3 on The Strand:
Of the 21 new SFR listings in this 2-week period west of Sepulveda, 10 were by the beach. (See the page of Sand Section actives $2m; use the links on our online spreadsheets to view properties directly.) The new listings included...
3 on The Strand:
- 112 The Strand (3br/4ba, 4400 sq. ft.), a late-80s home that holds up nicely enough today. (Pictured.) Light, bright, south and Strand – a worthy combo, starting at $7.795m.
- 908 The Strand (4br/5ba, 2775 sq. ft.), an older home with a bonus unit out back, offered at the come-hither price of $5.595m, below the lot values for 2 other Strand lots further south that sold last year.
MB Market Update for 2/15/10, Hills
Thursday, February 18th, 2010 at 4:47am. 116 Views, 0 Comments.
The MB Market Update spreadsheets for the first half of February are online and can be viewed with this link here, or at any time by using the pull-down menu at the top of the front page.
The first half of February saw 21 new listings of SFRs west of Sepulveda, and another week has begun with a smattering more.
Yes, that did feel a bit like a "Super Flood." But it also put February 2010 right on pace with February 2009, which saw 42 new listings – including comebacker listings that had taken the holidays off. This year, few comebackers as of yet.
Inventory of SFRs stood at 80 as of mid-month. Looking by sub-region west of Sepulveda :
Hill Section: 16
Sand Section: 35
Tree Section: 29 The rush of new offerings was countered by some decent sales activity – 9…
The first half of February saw 21 new listings of SFRs west of Sepulveda, and another week has begun with a smattering more.
Yes, that did feel a bit like a "Super Flood." But it also put February 2010 right on pace with February 2009, which saw 42 new listings – including comebacker listings that had taken the holidays off. This year, few comebackers as of yet.
Inventory of SFRs stood at 80 as of mid-month. Looking by sub-region west of Sepulveda :
Hill Section: 16
Sand Section: 35
Tree Section: 29 The rush of new offerings was countered by some decent sales activity – 9…
REO Speckie Gets a Markup
Tuesday, February 16th, 2010 at 4:44am. 153 Views, 0 Comments.
The newest SFR listing west of Sepulveda is a failed speckie that's back after a few months in the clutches of a bank.
It's also marked up 10% over the last price we saw it at in 2009.
One of the most prolific spec-funding banks in the area got behind 660 33rd (5br/5ba, 4750 sq. ft.) in late 2006. The lot was scraped and the new home was ready for market by June 2008.
But a start price of $3m, and the general chaos in the market soon after, combined to make it a rough ride for the listing. The bank imploded and eventually got absorbed in Summer 2009, but not before starting foreclosure proceedings on 33rd.
The bank that became the new holder of the note, worth $2m at the outset, took title at the courthouse steps last October. The listing remained active for…
It's also marked up 10% over the last price we saw it at in 2009.
One of the most prolific spec-funding banks in the area got behind 660 33rd (5br/5ba, 4750 sq. ft.) in late 2006. The lot was scraped and the new home was ready for market by June 2008.But a start price of $3m, and the general chaos in the market soon after, combined to make it a rough ride for the listing. The bank imploded and eventually got absorbed in Summer 2009, but not before starting foreclosure proceedings on 33rd.
The bank that became the new holder of the note, worth $2m at the outset, took title at the courthouse steps last October. The listing remained active for…
