There are currently 43 blog entries related to this category.
Wednesday, November 28th, 2012 at 2:41pm. 247 Views, 0 Comments.
We noted the deal in the MB Property Ticker, but not here on the blog.
This big, ocean-view TH had sold in April this year for $2.600m, then turned right back around in July asking $3.200m.
The very best we could say in our post then was, "Good luck with that." (See "A Quick Return to Market, +23%.")
Turns out, they had some luck. After 4 months, a serious bite. But now, that deal has flopped out.
D'ya suppose an appraisal had something to do with it?
Undeterred, this one's right back out on the market at $3.2m again.
Good luck with that.
Friday, November 23rd, 2012 at 11:29pm. 209 Views, 0 Comments.
We had one of those down markets here from roughly 2008-2010.
Spec builders re-entered the Manhattan Beach market as of early 2011 with the "Speedy Speckies" (see "Speedy Speckies Sprout," April 2011). High-quality spec projects have begun in earnest over the past year-plus, and some have sold.
|The O.G. Flipper|
Friday's LA Times piece on multi-million-dollar flips got us asking that.
To define the term "flippers" here, we're talking about folks who buy a place in dated, imperfect condition and bring it up more toward modern tastes, then quickly resell it.
In most any stable market, you should be able to make some money if you…
Tuesday, October 30th, 2012 at 3:20am. 203 Views, 0 Comments.
This Liberty Village cottage was in original – and degraded – condition when it hit the market in February. (See our review from then.)
But boy, oh, boy, did they rework it over the ensuing 6 months or so.
This 60-year-old scraper was given the treatment by some inspired pro remodelers. They added square footage.
It was: 3br/1ba, 1075 sq. ft.
It is now: 3br/2ba, 1500 sq. ft.
|Added-on Family Room at 1605 Harkness|
Tuesday, June 19th, 2012 at 3:56pm. 184 Views, 0 Comments.
Roughly speaking, there's a $1.2m-$1.5m range where plenty of buyers are looking. Within that range, we've seen 3 recent listings come and draw multiple offers, which drives prices up.
3005 Palm (4br/3ba, 2075 sq. ft.) did not have a lot going for it. Location pretty far north of Valley is maybe a B-, the home is recognizably of a late-60s vintage, and a very recent flipper's remodel is uneven.
The re-do is snazzy in parts (high-end kitchen), but leaves several dated features intact – old rock details inside and out, a separate sauna building in the backyard, etc. That's how flippers do things. (Remember flippers?)
The home was easy to identify as a copy of 3601 Elm…
Wednesday, April 25th, 2012 at 4:35pm. 167 Views, 0 Comments.
If you can see how the same house sold year after year, or use a set of same-house sales, you can get a good picture of the market's progress.
That's the Case-Shiller Index in a nutshell.
You won't often find short-term examples in MB, but there is a same-house trade that just posted and may prove tempting. It requires all kinds of caveats, and doesn't prove to be much of a barometer, but let's take a peek regardless.
We're up on the Plateau in the Sand Section at 469 28th, a somewhat sizable (4br/4ba, 3140 sq. ft.) and fairly new (2004) home that has now traded twice in less than a year.
This one sold for $2.0m in June 2011.
The new owners had plans. They saw the 2004…
Thursday, November 3rd, 2011 at 4:15am. 209 Views, 0 Comments.
No one flips houses anymore, do they?
But that's one way to look at 469 28th, a sizable (4br/4ba, 3025 sq. ft.) and fairly new home up on the plateau in the Sand Section.
The 2004 build hit the market in late April this year and cut a quick deal for a cool $2.0m. The deal closed in June, less than 5 months ago.
After a certain amount of smashing remodeling, here it is back up on public offer.
For 16% more: $2.325m.
We're assured that this wasn't intended as a flip, but as a custom re-do for the new owners. And then something else came along. So if/when they can find a buyer, the next thing happens.
We'd like to get a look inside to evaluate the changes, and we…
Thursday, February 10th, 2011 at 7:15pm. 140 Views, 0 Comments.
Now we can share greater detail from behind the scenes before the home went back to the bank in 2010.
In short, you'll see that some would-be buyers for the property had nailed the market value last year, but the bank screwed up and rejected a short-sale offer that would have avoided foreclosure. D'oh!
Rewind a bit further back to when 801 11th first hit the market as a short sale last April. The home had been on and off the market previously at silly prices – $2.495m and $1.995m – but then it was up at $1.6m as a shortie, with that price being called…
Thursday, February 3rd, 2011 at 5:21am. 141 Views, 0 Comments.
Here's an update on one of them: It didn't work.
801 11th (4br/3ba, 3025 sq. ft.) is a newer (2004) custom Caliterranean in a compromised location. (The home runs along somewhat busy Pacific and backs up to a commercial property, 50 yards from MBB.)
This one's been on the radar multiple times. It was offered for sale from May-August 2006 at $2.495m (pre-MBC), and again from June-August 2007 for $1.995m. (See "Figuring Out a Location Discount" from June 2007.)
In April 2010 it came back as a short…
Saturday, January 15th, 2011 at 2:23pm. 182 Views, 0 Comments.
Shoveling has a whole different meaning here.
And some of those out-of-towners really think they've got it better. Well, it takes all kinds.
Speaking of all kinds, do you remember "Creepy Carrie?" (See "Creepie Carrie Hawks an HB Listing.")
Turns out, someone rather famous named Ellen thought Carrie more closely resembled the Bride of Chucky, and this, somehow, provided the opening for the newest South Bay Confidential column in the Daily Breeze. See the "Home Guide" in your print edition, or read it online here.
If you're heading out this weekend, try this Redfin map list of open houses – you…
Friday, September 10th, 2010 at 4:24am. 132 Views, 0 Comments.
Now the home is freshly back on public offer. And it's at a substantial markup over the foreclosure sale price, but just a trifle below the price at which the market rejected an "approved" short sale offering earlier this year – at $1.600m.
The new price: $1.590m.
The investor grabbed this newer (2004) home for $1.320m in July, meaning a full-price sale would bring $270k (+20%) more, or a cool $190k with a 5% cost of sale.
Good work if you can get it.
The home's a custom build that MBC called "a veritable steal for a fairly large Hill Section house" in a post earlier this year. There is the compromised location…