September 2011 
There are 19 blog entries for September 2011.
Tight Supply, Quick Deals
Thursday, September 29th, 2011 at 5:10pm. 117 Views, 0 Comments.
You could characterize local RE inventory these days as pretty tight – there's plenty to choose from in some categories and at some price points, but much of what's available has some kind of question mark or issue – from location to price – that gives buyers pause.
But with quality offerings with fewer questions, you see quick deal after quick deal.
We mentioned 2509 Laurel last week (see "Laurel Hit the Sweet Spot"). That Tree Section home came out at $1.695m and, despite having no real yard, had an accepted offer within a couple of days. Recently a few more have hit their own sweet spots.
709 33rd (4br/4ba, 3450 sq. ft.) hit roughly the same spot as Laurel – a reasonably big, charming Tree Section home, but this one with a yard (and pool) and on a nicer…
But with quality offerings with fewer questions, you see quick deal after quick deal.
We mentioned 2509 Laurel last week (see "Laurel Hit the Sweet Spot"). That Tree Section home came out at $1.695m and, despite having no real yard, had an accepted offer within a couple of days. Recently a few more have hit their own sweet spots.
709 33rd (4br/4ba, 3450 sq. ft.) hit roughly the same spot as Laurel – a reasonably big, charming Tree Section home, but this one with a yard (and pool) and on a nicer…Caveat Emptor, Executives
Tuesday, September 27th, 2011 at 7:24pm. 198 Views, 0 Comments.
What's a good beach view in MB?Here's one. You'd have to be on the second or third floor of your Strand home to have it – or possibly in the pier parking lot.
But that's a nice view.
Or maybe you find The Strand too congested. All that riff-raff, not to mention the ruff-ruffs and their unmentionable droppings.
So you might move up the Hill and capture a panorama like this one. (Click to enlarge; thanks to Meinke Photography for these view photos.)Ah, yes, the world is a big blue marble, and you can drink it all in from your living room or porch if you set yourself up just right in the Hill Section.
Increasingly, these prestige areas are the province of executives. CEOs, hedge fund guys, corporate turnaround specialists – folks in the stratosphere who aren't…
Fall Cuts, Part II
Monday, September 26th, 2011 at 4:42pm. 172 Views, 0 Comments.
It wasn't fully 2 weeks ago when we said that sellers who mean to make a deal this year had better take stock, check their calendars, and recognize that it's "[t]ime to cut and send a message." (See "The Season Calls for Cuts.")
As Fall takes hold, demand often slackens. Do you want to be on the market during the holiday season? That's bargain-hunting time.
Better to make your move now.
Here are few more places where a sense of urgency is kicking in. Bet on more later this week.
200 Shell (3br/3ba, 1900 sq. ft.) is a beaut that we've called "the fanciest custom build in El Porto Norte," noting that the 2007-built home "drips with higher-end detail at every turn."
Despite its location just 6 homes up from The Strand, the ocean views from 200 Shell are…
As Fall takes hold, demand often slackens. Do you want to be on the market during the holiday season? That's bargain-hunting time.
Better to make your move now.
Here are few more places where a sense of urgency is kicking in. Bet on more later this week.
200 Shell (3br/3ba, 1900 sq. ft.) is a beaut that we've called "the fanciest custom build in El Porto Norte," noting that the 2007-built home "drips with higher-end detail at every turn." Despite its location just 6 homes up from The Strand, the ocean views from 200 Shell are…
Weekend Opens (9/24-9/25)
Saturday, September 24th, 2011 at 3:25pm. 175 Views, 0 Comments.
An interesting crop this week as we see a $3m spec home, a grand TH with a location issue, a dollhouse and 2 difficult homes competing for buyers' attention.
To plan your weekend tours, try this Redfin map list of open houses – 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 usual, we appreciate it when readers share views on this week's featured properties. Let us know what you like, don't like or must have.
And if you're in the market as a buyer or seller, please consider asking MBC for help identifying the right agent for you.
Blog author Dave Fratello works directly with buyer clients on a case-by-case basis, but our priority here is to make sure that anyone who…
To plan your weekend tours, try this Redfin map list of open houses – 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 usual, we appreciate it when readers share views on this week's featured properties. Let us know what you like, don't like or must have.And if you're in the market as a buyer or seller, please consider asking MBC for help identifying the right agent for you.
Blog author Dave Fratello works directly with buyer clients on a case-by-case basis, but our priority here is to make sure that anyone who…
Your Ex(spec)tations on 2516 Pine
Friday, September 23rd, 2011 at 4:33am. 150 Views, 0 Comments.
What will the first of the 5 new Speedy Speckies sell for?
That was our question to you this week, after 2516 Pine posted a deal. (See "First Speedy Speckie Snagged.")
It's the first spec home to sell in a generation in about 3 years in the Tree Section, possibly signalling a revival of spec building, or possibly signalling nothing. TBD.
The (pending) sale has the greatest relevance for the inventory of the selfsame builder/investor group. What will the other 4 go for?
Yet, at the same time, the eventual closed price is of great relevance to anyone contemplating a resale of a newer Tree Section home.
Meanwhile, the economics of a build & sale are relevant to the question of whether a new wave of spec development could loom on the horizon, or…
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| 2516 Pine |
It's the first spec home to sell in a generation in about 3 years in the Tree Section, possibly signalling a revival of spec building, or possibly signalling nothing. TBD.
The (pending) sale has the greatest relevance for the inventory of the selfsame builder/investor group. What will the other 4 go for?
Yet, at the same time, the eventual closed price is of great relevance to anyone contemplating a resale of a newer Tree Section home.
Meanwhile, the economics of a build & sale are relevant to the question of whether a new wave of spec development could loom on the horizon, or…
2011 Sales Up So Far
Thursday, September 22nd, 2011 at 2:14pm. 137 Views, 0 Comments.
We'll quickly take note of a new data post that Kaye Thomas has just put up looking at the sales pace locally.
She shows in this graph (which we've borrowed) that combined sales of SFRs and THs across all of MB are up in 2011 over last year.
Kaye's data are for Jan. 1-Sept. 15 of each year. We'll do our own run of the numbers when the 3rd quarter ends next week.
In her post, Kaye notes that sales volume is the "highest since 2007." Indeed, this year is at 85% of that bustling year's pace. Pretty amazing when you consider how tight inventory has felt much of the year.
Separating out SFRs in a quick look at the data, we see the same pattern, an uptick of 7% in sales year-over-year.
However, the median price citywide continues to decline year-over-year. When…
She shows in this graph (which we've borrowed) that combined sales of SFRs and THs across all of MB are up in 2011 over last year. Kaye's data are for Jan. 1-Sept. 15 of each year. We'll do our own run of the numbers when the 3rd quarter ends next week.
In her post, Kaye notes that sales volume is the "highest since 2007." Indeed, this year is at 85% of that bustling year's pace. Pretty amazing when you consider how tight inventory has felt much of the year.
Separating out SFRs in a quick look at the data, we see the same pattern, an uptick of 7% in sales year-over-year.
However, the median price citywide continues to decline year-over-year. When…
Into the Trees, Cheaply
Wednesday, September 21st, 2011 at 4:02pm. 146 Views, 0 Comments.
Do people want into the 90266 on whatever terms possible?
There are 5 recent, lower-end Tree Section sales that point to "yes."
It's been a sudden, perhaps coincidental, recent rush. All but 1 of these 5 came in under $900k, and the one above that threshold wasn't far above. (As always, you can click the highlighted address to see the whole listing on Redfin.)
730 Rosecrans (2br/1ba, 875 sq. ft.) is the cheapest by a lot, a very small 1950s cottage that was recently retooled for sale, with refinished floors, new windows, new wallboard, a new (if small) kitchen and fresh paint.
The "third bedroom" has a closet but is quite small and hosts laundry hookups. (Identity crisis!)
730 Rosecrans began at $779k, but sold for much less: $671k …
There are 5 recent, lower-end Tree Section sales that point to "yes."
It's been a sudden, perhaps coincidental, recent rush. All but 1 of these 5 came in under $900k, and the one above that threshold wasn't far above. (As always, you can click the highlighted address to see the whole listing on Redfin.)
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| 730 Rosecrans |
The "third bedroom" has a closet but is quite small and hosts laundry hookups. (Identity crisis!)
730 Rosecrans began at $779k, but sold for much less: $671k …
First Speedy Speckie Snagged
Tuesday, September 20th, 2011 at 4:05am. 129 Views, 0 Comments.
It was going to happen one of these days, and now it has.
The first new spec build in the Tree Section for about 3 years has posted a deal.
And there are 4 more where this one came from.
Interestingly, it's 2516 Pine (5br/5ba, 3200 sq. ft.) that was the first to move.
This was the first of 5 in an assembly-line production of sorts to launch. The same investors, builder and agent are involved in several simultaneous projects in the Trees.
2516 Pine hit the market in mid-May (pre-completion) at $2.199m. (See "$2.2m for First Speedy Speckie.") They quickly corrected that price, bringing it under $2m and soon to $1.899m, its last list price.
2516 Pine is also one of the 3 of the 5 new spec homes boasting an oddly embellished Mediterranean style,…
The first new spec build in the Tree Section for about 3 years has posted a deal.
And there are 4 more where this one came from.
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| 2516 Pine |
This was the first of 5 in an assembly-line production of sorts to launch. The same investors, builder and agent are involved in several simultaneous projects in the Trees.
2516 Pine hit the market in mid-May (pre-completion) at $2.199m. (See "$2.2m for First Speedy Speckie.") They quickly corrected that price, bringing it under $2m and soon to $1.899m, its last list price.
2516 Pine is also one of the 3 of the 5 new spec homes boasting an oddly embellished Mediterranean style,…Laurel Hit the Sweet Spot
Monday, September 19th, 2011 at 4:15am. 142 Views, 0 Comments.
It's a good thing MBC posted a slightly lengthy review of 2509 Laurel (4br/3ba, 3650 sq. ft.) over the weekend. Because it's gone. No one else is getting in.
Most agents saw Laurel on Friday, not before. Buyers were mostly in then and right after – including busy open houses. And by 6:30pm Sunday, an offer had been accepted.
They're in escrow at asking, with backups in hand.
The quick sale proves that there is the kind of "pent-up demand" we alluded to among Tree Section buyers "who want a good location plus the bedrooms and square footage that this home offers."
It was not hard to predict, as we did, "You can easily imagine this one going near full price quickly."
Good lessons here: Take a desirable home and location, spruce it up to leave no big…
Weekend Opens (9/17-9/18)
Saturday, September 17th, 2011 at 3:54pm. 182 Views, 0 Comments.
Just a few new offerings this week worth a review – inventory is trying to grow here post-Labor Day.
The buzz this week is sure to surround 2509 Laurel, a new Tree Section offering at $1.695m that seems to suit a lot of the criteria of frustrated buyers who are targeting the area. See our review below.
To plan your weekend tours, try this Redfin map list of open houses – 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 usual, we appreciate it when readers share views on this week's featured properties. Let us know what you like, don't like or must have.
And if you're in the market as a buyer or seller, please consider asking MBC for help identifying the right agent for…
The buzz this week is sure to surround 2509 Laurel, a new Tree Section offering at $1.695m that seems to suit a lot of the criteria of frustrated buyers who are targeting the area. See our review below.
To plan your weekend tours, try this Redfin map list of open houses – 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 usual, we appreciate it when readers share views on this week's featured properties. Let us know what you like, don't like or must have.And if you're in the market as a buyer or seller, please consider asking MBC for help identifying the right agent for…
