There are 18 blog entries for February 2011.
Monday, February 28th, 2011 at 8:48pm. 366 Views, 0 Comments.
1) A new listing came out, 1022 2nd (3br/3ba, 2850 sq. ft.), an opulent if not-so-big family home with views, starting at $1.799m. (See "Sunday Opens (2/27).")
2) A newer (2009) Cape Cod with views at 852 8th (5br/6ba, 4700 sq. ft.) posted a deal. This one was first offered in late 2008 pre-completion, asking $4.250m. At the time, MBC readers lauded the home's "gorgeous" details and Catalina views, but the listing ran through Summer 2009 with no sale.
Returning to market in November last year, 8th was offered for $3.7m and then $3.599m, the last price before buyer and seller agreed – the escrow posted this…
Sunday, February 27th, 2011 at 4:26am. 381 Views, 0 Comments.
As Ski Week wraps up, it's time to get back to clear vistas, school schedules and regular commutes – whoops! a day early! – it's definitely time for the vistas, perhaps none better than you'll find this weekend at 304 30th (see below).
To plan out your 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.
As always, click on any highlighted address for more pics & details via Redfin. If you tour, tell us what you see, what you like and what you don't like in the comments here.
We griped mildly the…
Friday, February 25th, 2011 at 2:34pm. 462 Views, 0 Comments.
There were some hot lot sales late last year.
There are 2 somewhat unexplored/undiscovered gems hanging around.
There's one recent sale (new escrow) that's worth a mention.
But it does seem like months since things were really hopping up in MB's prestige estate community.
Perhaps this will change as Spring actually springs.
Those 2 seemingly forgotten gems we mentioned are 819 10th (4br/4ba, 4675 sq. ft.) (pictured), a contemporary home on a big lot with pool and cool cabana/office out back ($3.9m, 190 DOM), and 230 Anderson (5br/4ba, 6125 sq. ft.), a big and rather formal custom build with ocean views ($5.495m, 88 DOM). No action yet?
952 11th (5br/4ba, 5050 sq. ft.) is a long-running listing…
Thursday, February 24th, 2011 at 1:06am. 575 Views, 0 Comments.
But that was the situation at 3121 Alma (3br/3ba, 2600 sq. ft.), an REO that just happened to be ready for the market then. (See "REOs East and West (WoS).")
It launched at $1.147m, a price we called "curiously precise – and very low."
We predicted "a little frenzy" for the property, and a "stampede" broke out (as Blake Roberts called it in a post with a fun Photoshopped graphic). A deal was cemented a few days into 2011.
The sale closed Wednesday at $1.425m.
Considering its size, views and condition, we said late last year that "you can readily argue that it belongs in the $1.5-$1.9m range now." If that's your measuring stick, the buyers still wound up with a deal, even after overbidding…
Wednesday, February 23rd, 2011 at 5:16am. 614 Views, 0 Comments.
And that's just the way it was 5 and a half years ago, too, when the home was brand new.
But there's one big difference between the sales: about $500k.
1221 6th is a pretty big house (5br/5ba, 4225 sq. ft.) on one of those coveted full-size East MB lots (7500 sq. ft.).
New, pre-market in Sept. 2005: $2.495m.
Now, list price with an immediate deal (near list): $1.999m.
Most of you can do that math in your head – a drop like that is a 20% chop from that quite-nearly-peak-year purchase.
Earlier this year, MBC reported that most South Bay cities were down pricewise somewhere in the mid-teens. Torrance and MB – always and ever moving in sync, natch – were down 14% from…
Tuesday, February 22nd, 2011 at 10:45pm. 391 Views, 0 Comments.
What's that? No one knows anything anymore? Signals have gone haywire?
It's fairly big news that the National Association of Realtors apparently has been overstating home sales nationally since roughly 2007 – perhaps by 10, 15 or 20%. (See today's WSJ article.)
This may not strike you as all that surprising, if you're skeptical of the RE lobby group generally. And it may ring especially true if you recall the shadiness around the group's past top economist, David Lereah – named by Time Magazine as one of "25 People to Blame for the Financial Crisis."
A new economist took over at NAR in 2007, but the suggestion – for…
Saturday, February 19th, 2011 at 5:23pm. 362 Views, 0 Comments.
Our short, new video tour this week attempts an homage to the holiday – a little Sand Section cottage with a cabin feel that we found ourselves calling "more Tahoe than playa."
Not quite the flood of new inventory this week that we saw last week, some of which is sold already. 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).
Thursday, February 17th, 2011 at 5:12am. 454 Views, 0 Comments.
It was always overpriced, and often underrepresented.
So they tried some razmataz.
It's a "Celebrity Beach Home" (2008). Well, it's, "Owned by a sports celebrity" (2009).
There was the free Porsche convertible offered to buyers. (See "Open-Air Living, Open-Air Driving" from Dec. 2009.)
Always, there was lots of gushing about the rare and big roof deck.
But price was always the big problem.
The 2008 start was at $3.999m. The free car came along when the listing was at $3.6m.
When the listing quit last Halloween, the price was at $2.999m.
So that makes the restart this year at $2.550m somewhat more intriguing.
That's 36% off the first list price, $1.050m (-29%) off the…
Wednesday, February 16th, 2011 at 5:00am. 390 Views, 0 Comments.
A Hermosa listing (right on the border with MB) at 215 Longfellow popped up under the "Price Reduced" tab with this curious fact.
It was "news" that the price had been "reduced" to $999,000, but the original/start price, listed right there on the page, was $999,000.
Were there pennies involved somewhere that had been shaved off?
Nope, it turns out they had flirted with the old price-increase tactic.
The listing has appeared in parts of 2008, 2009 and 2010, at list prices starting at $1.299m but declining, gradually, to $999k when it rebooted – after a long break – in early November last year.
Tuesday, February 15th, 2011 at 5:10am. 769 Views, 0 Comments.
Ask Hosni Mubarak whether it was some kid Google exec, or Facebook, or Twitter that helped bring him down, and here's the answer you'll get (roughly translated from the Masri): "Huh?!?"
Sometimes, a regime, or a brand, just dies. Ask AOL. (HuffPo, be warned!)
No doubt, we live in interesting times.
In terms of real estate, we live in a time when the recent nationwide RE recovery stoked by cash giveaways and unspeakably cheap money seems now to have stalled out. But that's nationwide. (According to Case-Shiller, no bulls they.)
Hyperlocally, 2010 was a recovery year and, moreover, the respected Dataquick team says "luxury" real estate across California (prices $1m+) saw a 21% increase in sales volume last year. (See this LA Times…