June 2010 
There are 29 blog entries for June 2010.
Recent Quitters
Wednesday, June 30th, 2010 at 3:44am. 145 Views, 0 Comments.
June is just about a wrap, and the first half of 2010 gave lots of people cause for optimism about the local RE market. (See "Front-Line Views of the Rally" and "Looking Back at Q1 '10.")
But, of course, not everyone who has tried during this period actually sold.
Some recent quitters:
Back in April 2003, the current owners paid $2.125m. We'll have to assume this one rented out. Maybe greener pastures await.
But, of course, not everyone who has tried during this period actually sold.
Some recent quitters:
- 505 N. Dianthus (5br/4ba, 4650 sq. ft.) is fairly new (2002) and plenty big, with city views to the north.
Back in April 2003, the current owners paid $2.125m. We'll have to assume this one rented out. Maybe greener pastures await.
- 801 11th (3br/3ba, 3050 sq. ft.), also in the Hills, was a
Checking In on 822 John
Tuesday, June 29th, 2010 at 7:06pm. 231 Views, 0 Comments.
A year ago, there was a new listing on a corner lot on John in the Hill Section.Kind of thrilling, except that 822 John was a bit of a letdown as an actual house.
It was a boxy brick home, more of an east coast look that an MB beach look. The home had plenty of space (5br/4ba, 3725 sq. ft.) but cried out for updates.
Now, it turns out, those updates are under way.
As our second pic here shows, work crews have stripped the home down to the studs.We'll keep watching this one to see what the new owners make of it. Indeed, there are a few other big-time remodels and rebuilds under way around town that we may feature from time to time.
822 John began last year at $2.389m, logged 4+ months on market, and wound up selling for much less: $1.788m (-$601k/-25%). …
Welcome Self-Corrections
Monday, June 28th, 2010 at 9:02pm. 149 Views, 0 Comments.
You might really mess up in pricing your property out of the gates. Plenty of people do.
The question then becomes: How quickly can you fix it?
In just over a month, 3116 Manhattan Ave. (3br/3ba, 3300 sq. ft.) has cut 19% from its ambitious start at $3.1m.
After 2 separate cuts of $250k and $350k, it's now down to $2.5m.
As MBC said in our first reference to the home a few weeks back, the home:
offers big ocean views, yet tends toward the wacky, with a remodel of a 1940s home that's got odd angles, decor and that rarest of MB finds: an indoor tree. The garage-door mural is yet another bonus.
We'll also note that a few pics from the upper deck do faithfully represent the ocean views from the house, but one great view pic taken from the walkstreet below…
The question then becomes: How quickly can you fix it?
In just over a month, 3116 Manhattan Ave. (3br/3ba, 3300 sq. ft.) has cut 19% from its ambitious start at $3.1m. After 2 separate cuts of $250k and $350k, it's now down to $2.5m.
As MBC said in our first reference to the home a few weeks back, the home:
offers big ocean views, yet tends toward the wacky, with a remodel of a 1940s home that's got odd angles, decor and that rarest of MB finds: an indoor tree. The garage-door mural is yet another bonus.
We'll also note that a few pics from the upper deck do faithfully represent the ocean views from the house, but one great view pic taken from the walkstreet below…
Beach Palace Featured in SBC
Sunday, June 27th, 2010 at 3:30pm. 224 Views, 0 Comments.
Do check out this week's opens in MB if you can. Meanwhile, you may also be interested in this week's edition of South Bay Confidential, the Daily Breeze column by MBC's blog author, which features a Hermosa home you probably won't find open: a $25 million Strand palace.
The column is also available online here or also here, if you prefer seeing it in its print layout with photos.
The Breeze highlighted this week's column on Saturday's front page, above the fold.
The home is 2909 The Strand (click for pics & details via Redfin), which also has a dedicated website here.
Weekend Opens (6/26-6/27)
Saturday, June 26th, 2010 at 4:45am. 157 Views, 0 Comments.
Your kids are out of school, but isn't it time to be locking in your next home in time for next year?
That's motivating some buyers, but getting the heck out of town is motivating a lot more people.
This weekend, the market's responding more to the shoppers. The list of opens, old and new, is just about the longest we've seen this year.
If you're in town, you might – might – be treated to a one-time shot at seeing a pretty fabulous newer home on the plateau in the Sand. For more, see below.
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…
That's motivating some buyers, but getting the heck out of town is motivating a lot more people.
This weekend, the market's responding more to the shoppers. The list of opens, old and new, is just about the longest we've seen this year.
If you're in town, you might – might – be treated to a one-time shot at seeing a pretty fabulous newer home on the plateau in the Sand. For more, see below.
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…
MB Market Update, Trees
Friday, June 25th, 2010 at 2:35pm. 141 Views, 0 Comments.
As with yesterday's update on the Hill & Sand Sections, we'll take the info from our 6/1-6/15 spreadsheets and merge it with some more up-to-date information before we head into the weekend.
That's a harder task, in some respects, because the Trees have been busy all month.
There were 9 new listings and 8 sales (new escrows) in the Trees in the first half of the month, and already we see 4 more new listings and 2 more sales (new escrows) in the subsequent week or so.
Tally those up, and you have 13 new listings in June, plus 10 sales, with a week to go. A majority of the action has been at the "lower" end, with 8 new listings and 6 sales priced under $1.5m.
Let's look first at some of the new listings (click here for the 6/15/10 list of Tree Section actives < $1.5m, and over $1.5m):
…
That's a harder task, in some respects, because the Trees have been busy all month.
There were 9 new listings and 8 sales (new escrows) in the Trees in the first half of the month, and already we see 4 more new listings and 2 more sales (new escrows) in the subsequent week or so.
Tally those up, and you have 13 new listings in June, plus 10 sales, with a week to go. A majority of the action has been at the "lower" end, with 8 new listings and 6 sales priced under $1.5m.
Let's look first at some of the new listings (click here for the 6/15/10 list of Tree Section actives < $1.5m, and over $1.5m):
…Beach Reporter Story
Friday, June 25th, 2010 at 1:30pm. 232 Views, 0 Comments.
Lots of MBC readers live in the coverage area and are poring over their free weeklies by now, but not all.
So we'll provide this online link to a story in this week's Beach Reporter on the "coming out" of MBC's author.
There were also some nice comments on the story on the BR website, but at this writing the comments seem to be unavailable.
So we'll provide this online link to a story in this week's Beach Reporter on the "coming out" of MBC's author.
There were also some nice comments on the story on the BR website, but at this writing the comments seem to be unavailable.
MB Market Update, Hills & Sand
Thursday, June 24th, 2010 at 7:05am. 133 Views, 0 Comments.
Our MB Market Update spreadsheets cover activity for the first half of the month (June 1-15), but this update will extend a bit further up to the current moment.
With just 4 new listings and 4 sales (new escrows) combined between them, the Hill and Sand sections were relatively quiet in the first half of June. In the 8 days since the close of our twice-monthly spreadsheets, there are 8 new SFR listings spread across the areas, but no sales yet.
Here's a look at some of the new listings by section – including some that came on after June 15. (Click highlighted addresses for more pics & details via Redfin.)
Hill Section
With just 4 new listings and 4 sales (new escrows) combined between them, the Hill and Sand sections were relatively quiet in the first half of June. In the 8 days since the close of our twice-monthly spreadsheets, there are 8 new SFR listings spread across the areas, but no sales yet.
Here's a look at some of the new listings by section – including some that came on after June 15. (Click highlighted addresses for more pics & details via Redfin.)
Hill Section
- 222 John (4br/4ba, 3850 sq. ft.) is a late-90s contemporary custom-built to the lot to maximize the home's main asset: spectacular ocean
Going for 6
Tuesday, June 22nd, 2010 at 4:28am. 185 Views, 0 Comments.
The Lakers celebrated their 16th title Monday, while a Tree Section listing opened a new chapter in the local real estate record books by entering its sixth consecutive year trying to sell.
None of the other attempts at 3309 Pacific, touching parts of 5 years from 2005-2009, have worked. Could this be the year?
We can't add much to MBC's February 2009 review of the home and its for-sale history, "A Long, Strange Listing," which included this passage:
It's the beacon in the fog. The Rock of Gibraltar. Old Faithful.
3309 Pacific is, quite simply, always for sale. Always a bridesmaid, never a bride. (For the on-and-off-market history, see the Redfin link above – it's surely the longest rap sheet you've ever read.)
3309 Pacific is big (4br/5ba, 3500 sq. ft.)…
None of the other attempts at 3309 Pacific, touching parts of 5 years from 2005-2009, have worked. Could this be the year?We can't add much to MBC's February 2009 review of the home and its for-sale history, "A Long, Strange Listing," which included this passage:
It's the beacon in the fog. The Rock of Gibraltar. Old Faithful.
3309 Pacific is, quite simply, always for sale. Always a bridesmaid, never a bride. (For the on-and-off-market history, see the Redfin link above – it's surely the longest rap sheet you've ever read.)
3309 Pacific is big (4br/5ba, 3500 sq. ft.)…
Close the Books on 848 14th
Monday, June 21st, 2010 at 7:05pm. 220 Views, 0 Comments.
The bubble-era building cycle in MB is long since over, and some of the last spec homes are finally selling.
Among the most recent to close is 848 14th, a big (5br/5ba, 3500 sq. ft), stony Caliterranean near Pacific School's dropoff line.
It was daring, to say the least, for the builder to grab this lot for $1.352m in Sept. 2007 and proceed with an ambitious big home, even as the headwinds began to grow.
14th hit the market a year later, in Sept. 2008, at $2.899m, and became one of the longest-running listings west of Sepulveda thereafter, hitting 606 DOM by our count.
But 14th has now found a buyer and closed at $2.150m, down $749k/-26% from start.
Location and price punished the listing over time. The lot's proximity to the lower soccer fields and Pacific…
Among the most recent to close is 848 14th, a big (5br/5ba, 3500 sq. ft), stony Caliterranean near Pacific School's dropoff line.It was daring, to say the least, for the builder to grab this lot for $1.352m in Sept. 2007 and proceed with an ambitious big home, even as the headwinds began to grow.
14th hit the market a year later, in Sept. 2008, at $2.899m, and became one of the longest-running listings west of Sepulveda thereafter, hitting 606 DOM by our count.
But 14th has now found a buyer and closed at $2.150m, down $749k/-26% from start.
Location and price punished the listing over time. The lot's proximity to the lower soccer fields and Pacific…
