November 2011 
There are 16 blog entries for November 2011.
John Relo Trades at '09 Price
Wednesday, November 30th, 2011 at 4:17pm. 141 Views, 0 Comments.
If mid-2009 was the local RE market's bottom, can you get that kind of price today?
In one recent case, the answer is yes, with some qualifications.
Now, the high end in the Hill Section is hardly a typical slice of the MB market, but we do have a same-house trade that offers an example of someone getting an '09 price now.
612 John (6br/8ba, 7400 sq. ft., on a 10,000 sq. ft. lot) is a huge home with huge ocean views befitting a kingly corner-lot property.
This home commanded $3.320m in 2000 when new, and was listed in 2008 as high as $7.3m.
It actually sold for $5.450m in July 2009, right between those figures – noteworthy at the time because of that chop of nearly $2m from the start price. (See "Some of the Biggest We've Seen.") A positive turnaround of…
In one recent case, the answer is yes, with some qualifications.
Now, the high end in the Hill Section is hardly a typical slice of the MB market, but we do have a same-house trade that offers an example of someone getting an '09 price now.
612 John (6br/8ba, 7400 sq. ft., on a 10,000 sq. ft. lot) is a huge home with huge ocean views befitting a kingly corner-lot property.This home commanded $3.320m in 2000 when new, and was listed in 2008 as high as $7.3m.
It actually sold for $5.450m in July 2009, right between those figures – noteworthy at the time because of that chop of nearly $2m from the start price. (See "Some of the Biggest We've Seen.") A positive turnaround of…
Must-Sell Shortie in the Trees
Monday, November 28th, 2011 at 6:55pm. 134 Views, 0 Comments.
It is in the post-Thanksgiving period of the year that some of the most interesting deals – even bargains – come along.
Increasingly as inventory thins out, the remaining listings include a higher proportion of "must-sell" offerings and motivated sellers. It can be a great time to be a buyer.
Jockeying for attention today is one example of a must-sell property: 2708 Ardmore (4br/3ba, 1850 sq. ft.).
It's a reasonably sized house on one of the skinny 2500 sq. ft. lots you see along both Valley and Ardmore. The listing has always been frank in mentioning that there is an NOD against the property, and it has now officially become a short sale as well.
Translation: They must sell, and preferably soon.
With a quick 17% chop in the list price (-$200k) to $950k…
Increasingly as inventory thins out, the remaining listings include a higher proportion of "must-sell" offerings and motivated sellers. It can be a great time to be a buyer.
Jockeying for attention today is one example of a must-sell property: 2708 Ardmore (4br/3ba, 1850 sq. ft.). It's a reasonably sized house on one of the skinny 2500 sq. ft. lots you see along both Valley and Ardmore. The listing has always been frank in mentioning that there is an NOD against the property, and it has now officially become a short sale as well.
Translation: They must sell, and preferably soon.
With a quick 17% chop in the list price (-$200k) to $950k…
Sunday Opens (11/27)
Sunday, November 27th, 2011 at 2:39pm. 186 Views, 0 Comments.
It's just terrific to forget about work for a few days when you can, and here's hoping you've had that chance over this long weekend.
We've been trying to figure out if it was an overdose of tryptophan, or maybe just a few too many candles-burning-at-both-ends days, that led to an avalanche of catnaps. Oh well, take 'em when you can get 'em.
It's no surprise that open-house pickings are slim for the holiday weekend, and this trend will continue... But take another look here at some listings that seem determined to get their market exposure and – perhaps – make their deals this holiday season. We're revisiting a few of the gems open Sunday down below.
One news item: This weekend marks Dave's last "South Bay…
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| Runaway turkey just wants to surf. |
It's no surprise that open-house pickings are slim for the holiday weekend, and this trend will continue... But take another look here at some listings that seem determined to get their market exposure and – perhaps – make their deals this holiday season. We're revisiting a few of the gems open Sunday down below.
One news item: This weekend marks Dave's last "South Bay…
Shocker East of Highland
Wednesday, November 23rd, 2011 at 5:13am. 137 Views, 0 Comments.
Completely amazed.
That's how we felt upon seeing the new closed sale price at 305 18th: $2.050m.
It's a virtual mint for a quirkily laid out duplex that needs help.
Only the property's uniquely sweeping ocean views offer an explanation for why someone went so deep into this odd property.
Here at MBC, we already expressed our surprise when this one went pretty quickly into escrow when the third agent took over. (See "A Little Crow" from about 6 weeks ago.) List price then was $2.189m.
Not so long before, in "Quick Change, Small Change, we had documented the property's history of overly ambitious list prices and quick triggers with listing agents. We concluded then: "A property with this many questions doesn't just need a new agent…
That's how we felt upon seeing the new closed sale price at 305 18th: $2.050m.
It's a virtual mint for a quirkily laid out duplex that needs help.
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| $2m views from 305 18th |
Here at MBC, we already expressed our surprise when this one went pretty quickly into escrow when the third agent took over. (See "A Little Crow" from about 6 weeks ago.) List price then was $2.189m.
Not so long before, in "Quick Change, Small Change, we had documented the property's history of overly ambitious list prices and quick triggers with listing agents. We concluded then: "A property with this many questions doesn't just need a new agent…About 1.9 and Quick
Monday, November 21st, 2011 at 10:22pm. 216 Views, 0 Comments.
Now that they have closed, it's worth giving another little shout-out to a couple of recent listings that hit a sweet spot just under $2m and found more or less immediate deals.
One was east of the highway, one west – and closer to Rosecrans and the refinery than you might expect to be instantly desirable.
The quick sales here point to a lack of quality inventory in a key price range – and suggest that sellers of comparable properties may have an easier time finding buyers.
1540 Gates (5br/5ba, 4125 sq. ft.) is a big and newer Caliterranean on a full-size, upsloping lot just a little bit east of Pennekamp.
The block is pretty nice – Pennekamp is just over a bump of a hill but not imposing, and Mira Costa, though nearby, is not exactly a neighbor or impact.…
One was east of the highway, one west – and closer to Rosecrans and the refinery than you might expect to be instantly desirable.
The quick sales here point to a lack of quality inventory in a key price range – and suggest that sellers of comparable properties may have an easier time finding buyers.
1540 Gates (5br/5ba, 4125 sq. ft.) is a big and newer Caliterranean on a full-size, upsloping lot just a little bit east of Pennekamp.The block is pretty nice – Pennekamp is just over a bump of a hill but not imposing, and Mira Costa, though nearby, is not exactly a neighbor or impact.…
Weekend Opens (11/19-11/20)
Saturday, November 19th, 2011 at 4:00pm. 132 Views, 0 Comments.
We don't want to say there's nothing to see this weekend, but with a holiday approaching, the truly new options have dried up.
Drying up – that's not the order for Sunday. "Light rain" and sub-60 temps could literally put a damper on weekend tours. A good weekend to someplace like Cabo. (Weather Sunday: 78 and sunny.)
But there are still plenty of options worth visiting or revisiting among the inventory that's hanging around. Here's something of a "greatest hits" tour list to help you cover the good stuff.
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…
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| Think sun & sand this weekend... ah, Cabo. |
But there are still plenty of options worth visiting or revisiting among the inventory that's hanging around. Here's something of a "greatest hits" tour list to help you cover the good stuff.
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…Walnut Twins Have Deals
Thursday, November 17th, 2011 at 8:51pm. 185 Views, 0 Comments.
On consecutive days this week, 2 of the more challenged Tree Section listings posted deals.
Are they awful houses? Why, no. But these big, next-door neighbors share a location that's not only far north of Valley and approaching Rosecrans, but also, due to their position on the hill, they enjoy have too great a view of the refinery complex, and suffer noise impacts as well.
We have clients looking in the Tree Section for whom the Walnut Twins were a complete no-go. One drive-by and the location ended the discussion.
How do you fix an issue like this? With price, of course.
3525 Walnut (4br/4ba, 3500 sq. ft.) is the newer of these 2 homes, sporting a 2001 build date, and also the larger of them at 3500 sq. ft.
It was also consistently the lowest-priced of the…
Are they awful houses? Why, no. But these big, next-door neighbors share a location that's not only far north of Valley and approaching Rosecrans, but also, due to their position on the hill, they enjoy have too great a view of the refinery complex, and suffer noise impacts as well.
We have clients looking in the Tree Section for whom the Walnut Twins were a complete no-go. One drive-by and the location ended the discussion.
How do you fix an issue like this? With price, of course.
3525 Walnut (4br/4ba, 3500 sq. ft.) is the newer of these 2 homes, sporting a 2001 build date, and also the larger of them at 3500 sq. ft.It was also consistently the lowest-priced of the…
Recent Deal Mishmash
Wednesday, November 16th, 2011 at 3:00pm. 139 Views, 0 Comments.
It's interesting to see who's making deals at this time of year. The later we get, the more interesting, we suspect.
Here are a few of the very most recent pending escrows to post, and a little background on each property.
513 3rd (5br/5ba, 4000 sq. ft.) is a newer (2002) Mediterranean on a street-to-alley lot near Robinson school and the flat family walkstreets.
Recently we noted that the sellers were "starting to get realistic on price," after cutting to $2.399m. Last year, they were $400k higher.
Here's the sales history from the early part of the decade:
Here are a few of the very most recent pending escrows to post, and a little background on each property.
513 3rd (5br/5ba, 4000 sq. ft.) is a newer (2002) Mediterranean on a street-to-alley lot near Robinson school and the flat family walkstreets.Recently we noted that the sellers were "starting to get realistic on price," after cutting to $2.399m. Last year, they were $400k higher.
Here's the sales history from the early part of the decade:
- June 2002 (new): $1.620m
- Sept. 2004: $2.260m (+$640k/+40%)
- May 2005: $2.750m (+$490k/+22%)
A Look at October's Sales, Part II
Tuesday, November 15th, 2011 at 5:30pm. 146 Views, 0 Comments.
Here's the wrap on October's sales. Our first segment last week covered sales up to $1.330m, including a couple east of the highway. (See "A Look at October's Sales, Part I.")
One quick update, first, on the "cheap dirt trade" we mentioned then at 1021 33rd, a west-of-Sepulveda lot that just went for $680k. It's a big (7050 sq. ft.) and triangular lot perched above the greenbelt right where Ardmore becomes 33rd St. and heads to Sepulveda.
We said last week that it wasn't certain that this would become new construction. Now it is – the old home is scraped and a new project is under way, just like that.
We continue our look at other sales from October in price order below.
608 29th (4br/4ba, 3070 sq. ft.) is a home we frankly called "flawed," but one with…
One quick update, first, on the "cheap dirt trade" we mentioned then at 1021 33rd, a west-of-Sepulveda lot that just went for $680k. It's a big (7050 sq. ft.) and triangular lot perched above the greenbelt right where Ardmore becomes 33rd St. and heads to Sepulveda.
We said last week that it wasn't certain that this would become new construction. Now it is – the old home is scraped and a new project is under way, just like that.
We continue our look at other sales from October in price order below.
608 29th (4br/4ba, 3070 sq. ft.) is a home we frankly called "flawed," but one with…Weekend Opens (11/12-11/13)
Saturday, November 12th, 2011 at 5:30pm. 138 Views, 0 Comments.
We're going to throw the rulebook out – this should be a slow time, but the number of listings popping onto the market is surprising. We couldn't even get to everything Friday; 2 that we saw (including 121 36th Place) are technically off-market listings looking to generate some buzz before they launch who-knows-when.
East MB seemed particularly to be popping. Janie Sue Nagy reviews the new offerings there in a new post.
To plan this weekend's 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 always, we appreciate it when readers see these homes and offer opinions here at MBC.
Sand Section
121 36th Place (4br/4ba, 2700 sq.…
East MB seemed particularly to be popping. Janie Sue Nagy reviews the new offerings there in a new post.
To plan this weekend's 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 always, we appreciate it when readers see these homes and offer opinions here at MBC.
Sand Section
121 36th Place (4br/4ba, 2700 sq.…