November 2010 
There are 15 blog entries for November 2010.
Not Slowing West of Sepulveda
Monday, November 29th, 2010 at 8:04pm. 120 Views, 0 Comments.
If you hear about a sales slowdown anywhere, don't blame MB west of Sepulveda. Here we're pulling more than our weight, according to a new look at sales pace data.
Yesterday at MBC we touched on sales data for the 4-month period of July 1-Oct. 31, roughly the period in which you'd see all Summer sales close.
In researching sales data for a newspaper column, we had found that 3 separate regions of the South Bay had seen significant slowdowns in sales in 2010 for this period, compared to 2009 and some of the other years dating back to 2006.
For instance, the 3 beach cities combined saw 70 fewer sales of SFRs and townhomes/condos this year than in 2009, the same number drop as Torrance saw and quite a bit more than the 30 fewer sales this year in PV.
But as that…
Yesterday at MBC we touched on sales data for the 4-month period of July 1-Oct. 31, roughly the period in which you'd see all Summer sales close.
In researching sales data for a newspaper column, we had found that 3 separate regions of the South Bay had seen significant slowdowns in sales in 2010 for this period, compared to 2009 and some of the other years dating back to 2006.
For instance, the 3 beach cities combined saw 70 fewer sales of SFRs and townhomes/condos this year than in 2009, the same number drop as Torrance saw and quite a bit more than the 30 fewer sales this year in PV.
But as that…
Where Sales Are Slowing
Sunday, November 28th, 2010 at 6:05pm. 160 Views, 0 Comments.
First off, just a quick note here that we won't have a formal "Weekend Opens" post, on account of how few opens there are and how many of you are in transit this weekend, not shopping.
That said, you can try this Redfin map list of open houses or the more traditional Beach Reporter list of opens if you've got time and a hankerin' for viewing.
We'll point you to the new South Bay Confidential column in the Daily Breeze, which discusses data on the sales pace in our grand region.
Looking at escrows closing in the 4 months from July 1 through Oct. 31 – the period in which most Summer deals close – we found a significant slowdown in some segments, comparing this year to last year, as well as to prior years.
The 3 beach cities (Redondo, Hermosa, Manhattan) saw a…
That said, you can try this Redfin map list of open houses or the more traditional Beach Reporter list of opens if you've got time and a hankerin' for viewing.
We'll point you to the new South Bay Confidential column in the Daily Breeze, which discusses data on the sales pace in our grand region.Looking at escrows closing in the 4 months from July 1 through Oct. 31 – the period in which most Summer deals close – we found a significant slowdown in some segments, comparing this year to last year, as well as to prior years.
The 3 beach cities (Redondo, Hermosa, Manhattan) saw a…
Ciao, Monticello
Wednesday, November 24th, 2010 at 5:24am. 160 Views, 0 Comments.
We're getting to that time of year when the car companies start hinting that you should buy your lifetime sweetie a new ride for Christmas. A Lexus with a gigantic bow around it in the driveway. The keys to a new Mercedes in the stocking.
There are some holiday gifts that need no fantasy sales pitch or extra adornments, though.
2100 Pine (5br/5ba, 3100 sq. ft.) probably fits in that category.
As we've noted twice in a week, this is a newer, custom-built "timeless classic with a distinctly American flavor." (See more in "Monticello Returns" and our recent "Weekend Opens" post.)
Though the home sold for $2.1m in March of this year, the new owners faced a job change and offered it back for $1.995m.
The home, once dubbed "Monticello" in a misdirected – though…
There are some holiday gifts that need no fantasy sales pitch or extra adornments, though.
2100 Pine (5br/5ba, 3100 sq. ft.) probably fits in that category.As we've noted twice in a week, this is a newer, custom-built "timeless classic with a distinctly American flavor." (See more in "Monticello Returns" and our recent "Weekend Opens" post.)
Though the home sold for $2.1m in March of this year, the new owners faced a job change and offered it back for $1.995m.
The home, once dubbed "Monticello" in a misdirected – though…
Late-Bubble Beauty Slammed Upon Resale
Monday, November 22nd, 2010 at 4:20pm. 141 Views, 0 Comments.
The bubble years of the early 2000s gave MB a bunch of spec construction, mostly in a Caliterranean or Cape Cod style.
But not everything was done in a cookie-cutter fashion. There were some creative, one-off, standouts like 2523 N. Valley (4br/5ba, 2800 sq. ft.), completed in 2005 and sold in Feb. 2006 for a kindly $2.050m. That was, not incidentally, just months before the bubble era began to end locally.
They called this one a "Monterey Colonial," and while it may not nail the style – we found examples of "Monterey Colonial" design that, frankly, look nothing like 2523 Valley which, for example, lacks a hip roof – we have called the home "darling" and "meticulously crafted" here at MBC in prior posts. (Such as this May 2010 "Weekend Opens.")
We wanted to…
But not everything was done in a cookie-cutter fashion. There were some creative, one-off, standouts like 2523 N. Valley (4br/5ba, 2800 sq. ft.), completed in 2005 and sold in Feb. 2006 for a kindly $2.050m. That was, not incidentally, just months before the bubble era began to end locally.They called this one a "Monterey Colonial," and while it may not nail the style – we found examples of "Monterey Colonial" design that, frankly, look nothing like 2523 Valley which, for example, lacks a hip roof – we have called the home "darling" and "meticulously crafted" here at MBC in prior posts. (Such as this May 2010 "Weekend Opens.")
We wanted to…
Weekend Opens (11/20-11/21)
Saturday, November 20th, 2010 at 7:10pm. 125 Views, 0 Comments.
Well, we went and did it – talked up the toasty weather and big ocean views just in time to see Mother Nature deliver a somewhat stormy weekend. See our new Daily Breeze column, a revision and expansion of the MBC story earlier in the week on Hill Section lot sales.
New listings these days have slowed to a trickle, but an intriguing mix nonetheless.
To plan out your weekend tours, try this Redfin map list of open houses – you can sort by price or sub-region of MB by clicking the title on a column. Or click here for the more traditional Beach Reporter list of opens (which may not be as complete).
As always, click on any highlighted address for more pics & details via Redfin. We ask MBC readers who visit the featured homes, or any open house, to also…
New listings these days have slowed to a trickle, but an intriguing mix nonetheless.
To plan out your weekend tours, try this Redfin map list of open houses – you can sort by price or sub-region of MB by clicking the title on a column. Or click here for the more traditional Beach Reporter list of opens (which may not be as complete).
As always, click on any highlighted address for more pics & details via Redfin. We ask MBC readers who visit the featured homes, or any open house, to also…
Monticello Returns
Friday, November 19th, 2010 at 5:08am. 143 Views, 0 Comments.
It was just 50 weeks ago that we poked a little fun at 2100 Pine, a terrific custom build that was being marketed as a landmark home.
A specific landmark home, that is: Pine was compared to Monticello in the first line of the listing description. (See our post, "Monticello?" from back then, complete with a photo of the real thing in Charlottesville.)
The comparison was dubious at best, but we did say, "give them points for novelty."
A month after that post, 2100 Pine (5br/5ba, 3100 sq. ft.) had a deal, and it closed for $2.1m this March. (The folks who custom-built it for themselves had tried to sell it for as much as $2.425m for several months before the "Monticello" moniker got stuck onto the property.)
Now, things have changed for the new owners, and…
A specific landmark home, that is: Pine was compared to Monticello in the first line of the listing description. (See our post, "Monticello?" from back then, complete with a photo of the real thing in Charlottesville.)
The comparison was dubious at best, but we did say, "give them points for novelty."
A month after that post, 2100 Pine (5br/5ba, 3100 sq. ft.) had a deal, and it closed for $2.1m this March. (The folks who custom-built it for themselves had tried to sell it for as much as $2.425m for several months before the "Monticello" moniker got stuck onto the property.) Now, things have changed for the new owners, and…
'Amazing' REO, Or Not
Thursday, November 18th, 2010 at 12:26am. 121 Views, 0 Comments.
If what you've got is a little mutt, why pretend it's a show horse?
A new listing at 3608 Maple today became the 9th Tree Section listing below $900k, with its start at $769k, and what that price suggests is 2 things:
1) it's a small, original cottage, needing lots of updates; and
2) it may best be viewed as a lot sale. Those things are readily apparent.
The listing also happens to be an REO.
Someone bought Maple for the unfortunate, wildly inflated price of $1.250m back in Sept. 2005. Must have seemed smart at the time. It went back to the bank 5 years later, and now shows up priced nearly $500k lower.
So maybe this one winds up a bargain for someone who can deal with a location issue and a tiny-house issue. (It's 2br/1ba, 930 sq. ft..)
Still, the listing…
A new listing at 3608 Maple today became the 9th Tree Section listing below $900k, with its start at $769k, and what that price suggests is 2 things:1) it's a small, original cottage, needing lots of updates; and
2) it may best be viewed as a lot sale. Those things are readily apparent.
The listing also happens to be an REO.
Someone bought Maple for the unfortunate, wildly inflated price of $1.250m back in Sept. 2005. Must have seemed smart at the time. It went back to the bank 5 years later, and now shows up priced nearly $500k lower.
So maybe this one winds up a bargain for someone who can deal with a location issue and a tiny-house issue. (It's 2br/1ba, 930 sq. ft..)
Still, the listing…
Quick and Dirt-y in the Hills
Tuesday, November 16th, 2010 at 5:26am. 155 Views, 0 Comments.
Another week, another big-dollar lot sale in MB's Hill Section.
It seems like that's mostly what people are buying in the Hills, though that's not quite the case.
This week's land grab is at 600 John, a corner lot on the higher, eastern side of the street. Did we mention that it's nearly 10,000 square feet? There, we did.
Ahhhh, John.
Ahhhhzure seas.
Someone's looking to start their dream home with a dirt cost of $4.4m, or thereabouts. (That was the start price, anyway.)
When John posted a deal Monday, just 18 days into the listing, surely there were still plenty of folks asking, "What took so long?"
We've been hearing for months about a queue of buyers frustrated with the lack of completed, high-end view homes in the Hills on public offer. So, you don't like…
It seems like that's mostly what people are buying in the Hills, though that's not quite the case.
This week's land grab is at 600 John, a corner lot on the higher, eastern side of the street. Did we mention that it's nearly 10,000 square feet? There, we did.Ahhhh, John.
Ahhhhzure seas.
Someone's looking to start their dream home with a dirt cost of $4.4m, or thereabouts. (That was the start price, anyway.)
When John posted a deal Monday, just 18 days into the listing, surely there were still plenty of folks asking, "What took so long?"
We've been hearing for months about a queue of buyers frustrated with the lack of completed, high-end view homes in the Hills on public offer. So, you don't like…
Poll Results: 3601 Laurel
Monday, November 15th, 2010 at 11:05pm. 122 Views, 0 Comments.
It was just a week ago that we asked MBC readers for opinions on the price at 3601 Laurel.
It seemed obvious that the corner-lot cottage (3br/2ba, 1530 sq. ft.) near Rosecrans and the refinery had begun too high.
Within the week, the sellers agreed, dropping $200k from the start price just 8 days into the listing – a quick self-correction. That brought the asking price down to $1.4m.
Now that we've closed the latest MBC pricing poll, it's safe to say that those voting believed there's a lot more cutting in 3601 Laurel's future.
As our graph shows, two-thirds of those voting believed that Laurel's value is $1.1m or less.
A plurality, 35%, thought the property to be worth less than $1.0m.
To create this chart, we had to combine the top 3 price tiers we offered…
It seemed obvious that the corner-lot cottage (3br/2ba, 1530 sq. ft.) near Rosecrans and the refinery had begun too high.
Within the week, the sellers agreed, dropping $200k from the start price just 8 days into the listing – a quick self-correction. That brought the asking price down to $1.4m.
Now that we've closed the latest MBC pricing poll, it's safe to say that those voting believed there's a lot more cutting in 3601 Laurel's future.
As our graph shows, two-thirds of those voting believed that Laurel's value is $1.1m or less.A plurality, 35%, thought the property to be worth less than $1.0m.
To create this chart, we had to combine the top 3 price tiers we offered…
Weekend Opens (11/13-11/14)
Saturday, November 13th, 2010 at 5:42am. 133 Views, 0 Comments.
There's not too much new this week, after a couple with some gems that sold quickly. But we're thinking that one theme for any weekend touring ought to be views, views, views.
If you've been anywhere near the coast recently, we've had some sparklingly clear days with Catalina in clear view, azure seas, even crisp views of downtown L.A., if that's your thing. (We're trying to put out of mind that silly "mystery missile" from Monday night's sunset.)
We'll start with a list below of open houses offering the best ocean views, hoping we don't invite some unexpected marine layer by doing so.
To plan out your weekend tours, try this Redfin map list of open houses – you can sort by price or sub-region of MB by clicking the title on a column. Or click here for the…
If you've been anywhere near the coast recently, we've had some sparklingly clear days with Catalina in clear view, azure seas, even crisp views of downtown L.A., if that's your thing. (We're trying to put out of mind that silly "mystery missile" from Monday night's sunset.)
We'll start with a list below of open houses offering the best ocean views, hoping we don't invite some unexpected marine layer by doing so.
To plan out your weekend tours, try this Redfin map list of open houses – you can sort by price or sub-region of MB by clicking the title on a column. Or click here for the…
