May 2010 
There are 29 blog entries for May 2010.
Sunday Opens (5/30)
Sunday, May 30th, 2010 at 3:52am. 128 Views, 0 Comments.
Enjoy your weekend and your Monday off, with no need to schedule your holiday around a Lakers-Suns Game 7. (First match against the old green men from Boston is Thursday.)
This week, all of the Tree Section properties that make our list are on busy streets, a quirk of what's new or interesting this weekend.
Click here for the complete list of opens published in the Beach Reporter, or see it at any time by using the link in the right-hand column under "Prop. Search Tools."
If you do get out & around this weekend, please report back here on what you've seen, what you liked, didn't like, etc.
Hill Section
872 9th (5br/5ba, 4050 sq. ft.) jilted us once before, failing to open up after published promises, but this weekend should be different.
This…
This week, all of the Tree Section properties that make our list are on busy streets, a quirk of what's new or interesting this weekend.
Click here for the complete list of opens published in the Beach Reporter, or see it at any time by using the link in the right-hand column under "Prop. Search Tools."
If you do get out & around this weekend, please report back here on what you've seen, what you liked, didn't like, etc.
Hill Section
872 9th (5br/5ba, 4050 sq. ft.) jilted us once before, failing to open up after published promises, but this weekend should be different.This…
What Goes Up Comes Down
Friday, May 28th, 2010 at 4:55am. 147 Views, 0 Comments.
A 3-month old Sand Section listing may have now set a record for most frequent tweaks to the list price.
With 10 separate list prices already over 83 DOM, it'll be hard for any other listing to compete with 445 32nd for the title, but there's half a year left.
Oh, and 445 32nd may not be finished yet.
It all started March 5, when 32nd (3br/2ba, 1900 sq. ft.) debuted at $1.4m.
It was clear, though, that the market was heating up by then.
So the price was suddenly increased by 1071%. Yes: $15,000,000.
But that was a typo. Later the same day, the price was up to (down to?) $1.5m.
Realizing that overpricing the property was not working, the agent/owner dropped it back down to $1.45m just 5 days later.
And the next week, since there were no buyers yet, she …
With 10 separate list prices already over 83 DOM, it'll be hard for any other listing to compete with 445 32nd for the title, but there's half a year left.Oh, and 445 32nd may not be finished yet.
It all started March 5, when 32nd (3br/2ba, 1900 sq. ft.) debuted at $1.4m.
It was clear, though, that the market was heating up by then.
So the price was suddenly increased by 1071%. Yes: $15,000,000.
But that was a typo. Later the same day, the price was up to (down to?) $1.5m.
Realizing that overpricing the property was not working, the agent/owner dropped it back down to $1.45m just 5 days later.
And the next week, since there were no buyers yet, she …One Old World Closing
Thursday, May 27th, 2010 at 4:04pm. 132 Views, 0 Comments.
Two of the 3 "old world" style homes featured here at MBC almost 3 months ago have found buyers. (See "Kickin' It Old World.")
Newly closed: 435 10th (4br/3ba, 2025 sq. ft.), which began in October last year at $1.799m, posted a deal but returned.
Months later, 10th has now sold for $1.499m, according to the MLS, the last list price after a March 1 chop.
10th is unusual, and, as we once noted, wound up at a price nearing lot value, reflecting the fact that the funky old-world look and feel of this particular home was not for everyone. On the plus side: a flat walkstreet near downtown.
A second old-worlder, 2701 Maple, a pre-ZORP biggie (4br/4ba, 4000 sq. ft.) that won a design award in 1983, is still in escrow, last at $1.775m.
The odd old-worlder out is …
Newly closed: 435 10th (4br/3ba, 2025 sq. ft.), which began in October last year at $1.799m, posted a deal but returned.Months later, 10th has now sold for $1.499m, according to the MLS, the last list price after a March 1 chop.
10th is unusual, and, as we once noted, wound up at a price nearing lot value, reflecting the fact that the funky old-world look and feel of this particular home was not for everyone. On the plus side: a flat walkstreet near downtown.
A second old-worlder, 2701 Maple, a pre-ZORP biggie (4br/4ba, 4000 sq. ft.) that won a design award in 1983, is still in escrow, last at $1.775m.
The odd old-worlder out is …Get 'Er Done
Wednesday, May 26th, 2010 at 4:36am. 134 Views, 0 Comments.
Not so long ago, if you wanted 2708 Pacific, you'd need to pay $1.849m. But not now.Actually, someone once agreed to pay something close to that for the 5br/4ba, 3400 sq. ft., early-90s home with its graceful updates.
As you may recall from "Spring's Intriguing Signs," back around 3 months ago, Pacific had a quick deal, which MBC cited as Exhibit A for a series of "quick sales on new listings that don't even seem particularly well-priced."
The deal didn't stick, though, and Pacific hung around quite a while longer. It was last seen 2 weeks ago at $1.699m, when it quit. (See "Luck Runs Out.")
How quickly fortunes reverse.
Now 2708 Pacific is teed up to be the sensation of the week.
Re-listed at $1.399m, Pacific has a new come-hither price.
The sellers' orders…
Way Lowe-r
Tuesday, May 25th, 2010 at 3:38am. 153 Views, 0 Comments.
When the Dodgers let go of pitcher Derek Lowe after the 2008 season, it was one of those moments where you wondered why they couldn't just hold onto proven assets. Money trouble? Did the team really think he wouldn't perform in the future?The Dodgers don't always look smart in their bets on the future, but Mr. Lowe has not exactly provided the value or promise in the 4-year, $60 million contract he got from Atlanta.
His innings were down last year, his ERA was up 1.50 and he gave up lots more hits and walks. He's on track for a much worse 2010.
Mr. Lowe's own bet on MB real estate hasn't panned out so well, either.
In Aug. 2006, he bought 204 19th (4br/4ba, 4260 sq. ft.) new for $5.0m.When his last of 4 seasons with the Dodgers was nearly over in Sept.…
3 Quickies
Monday, May 24th, 2010 at 7:17pm. 125 Views, 0 Comments.
That pound-pound-pound sound you may hear is either construction noise from all the remodels and new builds around town, or a bunch of buyers knocking. Maybe both.
We're hoping you got a good look at 2 of the listings from MBC's "Weekend Opens" feature this weekend, because they're basically gone.
Sources are telling MBC about 3 quick sales:
856 11th in the Hills was at $1.499m, featuring a somewhat refreshed 70s home and some parkland a big back yard. Knock knock!
2317 Walnut in the Trees came out at $1.175m, a sweet spot where there's almost no inventory and certainly nothing well-located, clean and livable like this one. Multiple offers.
Last Summer, Walnut was up for a couple of months at $1.329m (+$154k over this year's start), with no takers. Things have…
We're hoping you got a good look at 2 of the listings from MBC's "Weekend Opens" feature this weekend, because they're basically gone.
Sources are telling MBC about 3 quick sales:
856 11th in the Hills was at $1.499m, featuring a somewhat refreshed 70s home and some parkland a big back yard. Knock knock!
2317 Walnut in the Trees came out at $1.175m, a sweet spot where there's almost no inventory and certainly nothing well-located, clean and livable like this one. Multiple offers.
Last Summer, Walnut was up for a couple of months at $1.329m (+$154k over this year's start), with no takers. Things have…
Weekend Opens (5/22-5/23)
Saturday, May 22nd, 2010 at 3:35am. 122 Views, 0 Comments.
After some slow weeks, there's plenty new to see this weekend, including a treasure on one of MBC's favorite streets, 31st in the Trees.
Plus a new flat walkstreet home.
With lower inventory overall, it's at least interesting to see some desirable new stuff coming on.
Click here for the complete list of opens published in the Beach Reporter, or see it at any time by using the link in the right-hand column under "Prop. Search Tools."
If you do get out & around this weekend, please report back here on what you've seen, what you liked, didn't like, etc.
Hill Section
219 N. Dianthus may surprise you. It's a lot of house (4br/4ba, 3300 sq. ft.) despite a skinny lot, and comes with amazing views for just $2.089m to start.
The layout may throw you off. Three…
Plus a new flat walkstreet home.
With lower inventory overall, it's at least interesting to see some desirable new stuff coming on.
Click here for the complete list of opens published in the Beach Reporter, or see it at any time by using the link in the right-hand column under "Prop. Search Tools."
If you do get out & around this weekend, please report back here on what you've seen, what you liked, didn't like, etc.
Hill Section
219 N. Dianthus may surprise you. It's a lot of house (4br/4ba, 3300 sq. ft.) despite a skinny lot, and comes with amazing views for just $2.089m to start.The layout may throw you off. Three…
MB Market Update for 5/15/10, Sand
Friday, May 21st, 2010 at 2:36pm. 118 Views, 0 Comments.
As we take a look at the Sand Section's activity so far this month, a pretty big question arises:
Hey, Sand Section, what's up?
Buyers are raging in the Trees, the Hills are doing alright, but the Sand has recorded just 3 sales (new escrows) in a month, by our count. Two of those in early May.
It's not for lack of inventory – 34 offerings of SFRs alone in the Sand as of mid-May. (MBC doesn't track townhomes, but there are plenty that add to local inventory.)
Don't say this is some kind of backlash over the banning of beer at the 6-man. If anything, that should be raising interest in Sand Section property, no?
Summer's coming. Isn't it time to buy by the beach?
Just 2 buyers agreed in the first half of May:
Hey, Sand Section, what's up?
Buyers are raging in the Trees, the Hills are doing alright, but the Sand has recorded just 3 sales (new escrows) in a month, by our count. Two of those in early May.
It's not for lack of inventory – 34 offerings of SFRs alone in the Sand as of mid-May. (MBC doesn't track townhomes, but there are plenty that add to local inventory.)
Don't say this is some kind of backlash over the banning of beer at the 6-man. If anything, that should be raising interest in Sand Section property, no?
Summer's coming. Isn't it time to buy by the beach?
Just 2 buyers agreed in the first half of May:
- 204 19th (4br/4ba, 4250 sq. ft.) is yet another listing
MB Market Update for 5/15/10, Overview
Thursday, May 20th, 2010 at 3:53am. 138 Views, 0 Comments.
Are you ready to talk about declining inventory as Spring nears Summer?
The new MB Market Update spreadsheets are up online for your viewing and use by clicking here, or at any time by using the pull-down menu on the front page under "MB Market Updates."
What you're going to see, for instance, on the tracking page, is more sales than new listings.
We show 14 new escrows and 10 new listings in this 2-week period at the start of May. Though 2 of those new escrows belong to prior periods (we're just catching up), there's no denying the balance tilt toward clearing, not new inventory.
Pause to reflect. It was conceivable, given the sales pace earlier in the year, that a "sell" signal would have been received by potential sellers on the fence, and we'd gradually…
The new MB Market Update spreadsheets are up online for your viewing and use by clicking here, or at any time by using the pull-down menu on the front page under "MB Market Updates."
What you're going to see, for instance, on the tracking page, is more sales than new listings.
We show 14 new escrows and 10 new listings in this 2-week period at the start of May. Though 2 of those new escrows belong to prior periods (we're just catching up), there's no denying the balance tilt toward clearing, not new inventory.
Pause to reflect. It was conceivable, given the sales pace earlier in the year, that a "sell" signal would have been received by potential sellers on the fence, and we'd gradually…
Buyers Raid Trees
Wednesday, May 19th, 2010 at 3:42pm. 167 Views, 0 Comments.
For a while there, if there was a pattern emerging in the Tree Section, it was a steady buildup of inventory priced at $1.5m and above.
Now, in the course of about a month, several higher-dollar listings – old and new – have been snapped up by buyers, many of them priced above $2m:
Now, in the course of about a month, several higher-dollar listings – old and new – have been snapped up by buyers, many of them priced above $2m:
- 3011 Elm (5br/5ba, 3600 sq. ft.) made a splash earlier this month, selling in its first day on market, after listing at $2.495m (down $150k from a 2007 acquisition);
- 737 35th (pictured) (5br/5ba, 3875 sq. ft.) might not have made as much news, but it sold within 2 DOM when listed at $1.999m – that's a big, newer (2004) house mid-block on 35th near the dead-end of Agnes;
- 3201 Poinsettia (5br/4ba, 3300 sq. ft.) is a late-90s Mediterranean with some updates and a big,
