There are 19 blog entries for January 2012.
Tuesday, January 31st, 2012 at 6:42pm. 451 Views, 0 Comments.
If you check in on Redfin's MB page regularly, or however you get your market updates, you've already seen the evidence of more and more choices coming out.
Here were are on the morning of January 31, with some time still for more new listings to come out today, and we're already just above last year's level for the month of January with 46 new listings for the month.
That 46 figure does include both SFRs and THs and covers the entirety of MB. Also, it includes 7…
Saturday, January 28th, 2012 at 4:22pm. 623 Views, 0 Comments.
We've got more choices.
Inventory is fairly exploding now, a full week before the Super Bowl, traditionally the kickoff for Spring listings.
Ask any agent trying to get around MB on Friday – the number of debuts was daunting. Your blog author got to 11 homes in 2 hours, but that was a challenge.
Out of the whirlwind, there was just one we desperately wanted to see, and that's the one we recommend above all others for your weekend viewing as well.
Make it a point to see 116 Morningside Dr. on Sunday between 1-4pm.
It's an inspired South End beach cottage with 4br and 3000+ sq. ft. Something of a dream, clearly an accomplishment, a beaut. Don't miss it.
Among the East MB listings, we also liked 1515 5th St., so check that out if you…
Friday, January 27th, 2012 at 5:05am. 682 Views, 0 Comments.
The big (7br/7ba, 5675 sq. ft.) beachfront home was ready for a new owner, just about 3 years after a July 2006 sale at $9.0m.
But the seller believed he had a really rare jewel, and wanted a healthy markup. Surely the land was rare – a corner lot with about 1/3rd more dirt than the typical Strand lot (4500 sq. ft. vs. about 3300).
The listing launched at $12.5m, a markup of +$3.5m/+39%.
Can you remember what the world was like in June 2009? That markup was a fanciful request any time, but especially so then. You can almost say our market had bottomed right then, and optimism was scarce.
What ensued was over 800 DOM in a series of stop-and-start listings, with the price always far too high, making…
Wednesday, January 25th, 2012 at 4:30pm. 415 Views, 0 Comments.
And then another 5 months went by after that.
Tuesday the home switched from "backup offer" status – where it had been since mid-December – to "pending," likely an indication that some contingency has been met by the buyers, perhaps sale of their existing home. (Admittedly we haven't pressed for details.) This makes it all the more like that this second reported deal will wrap up. At last.
At Palm, they've rolled on for 279 combined days on market, a pretty surprising accomplishment for an attractive, newer (2000), corner-lot home in a pretty great location.
The last offering…
Tuesday, January 24th, 2012 at 4:15pm. 431 Views, 0 Comments.
Price with a 7 in front.
That'd be 433 Marine Place we're discussing – a full-size lot (2700 sq. ft.) along a nice street just steps from Grandview elementary and with ocean-peek potential. And forget that formal address, which sounds like (and is) off an alley. The lot comes all the way forward to 23rd St., where the address would properly be 432 23rd. (The current structure, pictured here, is tucked away back on the alley.)
The start price: $725k.
By way of comparison, on the open market today you can find 2 smaller and much less-well-located Sand Section lots at similar prices:
- 3600 Vista is a pebble's throw from Rosecrans and the lot's just 1800 sq.
Monday, January 23rd, 2012 at 4:18pm. 574 Views, 0 Comments.
That was 832 1st (4br/4ba, 4275 sq. ft.), which quit the market in mid-September. But it was certain to sell – the owners already had purchased their new property.
We half-expected to see the listing come back after the (Pats-Giants) Super Bowl. But no. It sold right at the end of last year. We just took note of it, since the sale did not post on the MLS.
3 months on market, 3 months off market – and a deal.
So how did the sellers do?
The start price for 832 1st was $3.595m. We toured it with a client while it was being marketed, and the client gave it some serious consideration. Standing outside, we agreed the home made sense at about $3.2m.
Saturday, January 21st, 2012 at 6:29pm. 1,045 Views, 0 Comments.
That means: Yes, you can live in MB for less than a million, quite a bit less. But here's hoping you don't have too much stuff.
Before we describe the week's new housing offerings, here's a shout-out to a new feature on CBS (TV) LA's website regarding MB shopping, dining and nightlife. The focus there is on some of our town's newer offerings – a reminder that the last few years have really given us some headline-worthy additions. The feature's author: Mrs. MBC!
To plan out your weekend home tours, use 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…
Friday, January 20th, 2012 at 6:56pm. 412 Views, 0 Comments.
Here are a few recent examples – including at least one big eye-opener.
3100 Laurel (4br/3ba, 2100 sq. ft.) is our first case. Our before-and-after photos here show the evolution.
This is a home on a corner lot at 31st St. that MBC said had "almost too many flaws to count" with a layout we said was "shockingly awkward," partly due to the mid-level garage. (The listing called it a "great layout," so you can see there is room for different opinions. Har.) That mid-level garage is almost necessitated by the odd upslope of the lot toward Laurel – unless you scrape the house.
The ivy-covered 60s original with a pool in back was going…
Thursday, January 19th, 2012 at 6:10am. 618 Views, 0 Comments.
Back in September (!) in "Laurel Hit the Sweet Spot," we noted the almost instant deal on the big, remodeled home, which had come out at $1.695m. (Here's our review from the first open house.)
But that was just the first deal, and it flopped.
Thereafter, Laurel sat.
Instead of about 1 DOM, it logged 101.
It's a very big house, redone since its last (2007) purchase, in a location that's walkable to school and town. You might want to update it further (kitchen and master in particular), but nothing's pressing.
There's no yard, really, which was a killer for some buyers.
Once Laurel sat, it sat and sat. The last time we…
Wednesday, January 18th, 2012 at 10:51pm. 393 Views, 0 Comments.
In that post, the main findings were:
- Sales of SFRs in MB were almost flat (+12) compared to 2010
- The median price for SFRs in MB was down 6% from 2010 (we repeat the chart here)
- MB's median price for 2011 was the same as 2004's (before adjusting for inflation)
This was the first issue of the new year, so we figured we might see some 2011 wrapup stats for the South Bay.
We did see some stats, and many were flawed. Your blog author went a little bit batty trying to figure…