There are currently 22 blog entries related to this category.
Wednesday, July 24th, 2013 at 3:34pm. 359 Views, 0 Comments.
It's remarkable that once they sold lots in Manhattan Beach for $200.
But those were the old-fashioned days, and nothing cost what it does today. Plus, they had to wear those ridiculous head-to-toe swim outfits.
Everything's pricier now, MB's got more going for it than in those $200-a-plot days, and the swim gear's gotten better. (Now we wear head-to-toe swim outfits by choice, to stay warm.)
You don't have to look all the way back to the days of the Model T to see some very impressive value increases over time.
Let's take one townhome for an example, and a roughly 15-year timeframe to watch prices rise.
301 2nd (3br/4ba, 2100 sq. ft.) is a townhome completed in 1991.
The first title transfer we can see now goes back to 1997. Purchase price in '97:…
Tuesday, March 19th, 2013 at 8:58am. 704 Views, 0 Comments.
It's a theme we keep checking in on, because the results are so interesting: What couldn't sell before, does sell now.
And in two very recent cases, listings that ran quite a while in 2012 sold quickly in 2013 with $200K overbids.
In fact, the stories of these two recent sales have almost everything in common.
1125 3rd (4br/4ba, 3900 sq. ft.) is a newer (2005), custom-built home built on a steep hillside. In our review in February, we summarized: "Suffice to say it's an unusual home, but that they've done a lot to try to echo a conventional home despite the quirks – like countless stairs inside and out that move you into the home, around the home, and among the various tiers of outdoor spaces."
This home was offered on and off over nearly 7 months of
Wednesday, March 13th, 2013 at 5:15pm. 571 Views, 0 Comments.
Without irony, we noted that the new, 2012 listing for this fairly large TH (4br/3ba, 2300 sq. ft.) near downtown was a sign that "2009 was a great time to buy."
2009: a great time?
Of course, to be living and shopping for real estate in early 2009 seemed like more of a horror show at the time. The local market had been dipping for a couple of years and the economy didn't look so good. (Pause a moment to recall, and the understatement here is apparent.)
If you bought then, you had plenty of reason to fear that equity would start leaking out the windows as soon as you got the keys.
But now we see what can happen when you buy on the dip.
Wednesday, February 27th, 2013 at 11:01am. 777 Views, 0 Comments.
Buy it or rent it? That's a conventional question.
Sometimes a property is offered both ways, and the consumer can make the choice.
Take 3521 Walnut (5br/4ba, 3250 sq. ft.), which sold for $1.435M just 14 months ago, and hit the market this year with big ambitions: a 30% markup to $1.850M.
It's down a little now to $1.769M, but they've got a backup plan. It's for rent at $7K/mo. (See the rental listing here.)
That poses a straightforward choice: Do you want to park at least $350K in a down payment and borrow $1.4M to…
Tuesday, January 22nd, 2013 at 4:54pm. 812 Views, 0 Comments.
Both listings seemed to debut quite high for what they were, back 3-4 months ago. There are 2 ways to make a sale when you've done that: Wait. And cut.
810 1st (5br/5ba, 4850 sq. ft.), you've waited too long.
This big 80s original debuted last August, canceled for the holiday season and just returned to market last week. Boom! They've got their deal.
Welcoming this one back to market only last week, MBC said:
The issue here is that absolutely everything needs a 21st-century update. That takes…
Wednesday, December 12th, 2012 at 5:00pm. 499 Views, 0 Comments.
The market value is what it is, and distress sales – rare as they are in MB these days – just don't seem to deliver huge discounts.
But a new El
That's 316 45th (3br/4ba, 2320 sq. ft.) we're talking about, a 2006-built TH at the north end of town, and almost at the top of the steep hill that rises up to
Views? Oh yeah. We said in our review in September:
There are few higher points in MB with more unobstructed panoramas than this TH on the furthest edge of town. The master…
Tuesday, November 27th, 2012 at 2:27pm. 673 Views, 0 Comments.
614 MBB (3br/3ba, 1600 sq. ft.) has just sold for $1.050m, a trifle less than the $1.052m paid in June for 604 MBB (3br/3ba, 1725 sq. ft.).
You could see those figures pass by quickly without noticing, but we did notice. Here's why.
The newly sold unit, 614, is superior. It's the last unit in back, enjoying ocean views and no noise. The June sale was on the front unit, very, very much affected by noise from MBB and with no real view to speak of.
So where's the quiet/view premium for 614 MBB?
When the units sold new in 2002, there was a $70k difference for the back unit – a 10% increase over the street-noisy unit.
Thursday, November 1st, 2012 at 8:27pm. 469 Views, 0 Comments.
1126 Laurel, the near-twin of a TH that was on the market earlier this year in this unique duplex just off of MBB.
You'll see 1126 Laurel up now at $1.399m, a price that would seem downright cheap in lots of places in the Sand Section for a 4br/3ba, 2300 sq. ft. newer TH. (This one's technically in the Tree Section, just north of MBB and near downtown.)
Heck, just go down the hill from this TH to the busy, busy corner of MBB and Ardmore, and you can find a smaller (1800 sq. ft.) 3br TH that just sold for much more: $1.485m (1118 N. Ardmore).
But price is relative in all kinds of ways – including relative to acquisition.
This TH at 1126 Laurel was picked up in the doldrums of July…
Friday, October 5th, 2012 at 3:43am. 457 Views, 0 Comments.
One way to tell (part of) the tale is just to look at some of the most recent closed sales:
424 2nd (3br/4ba, 2550 sq. ft.) is nothing snazzy or special or perfect from any angle, just like all the other recent $1.7m-ish sales in the South End of the Sand Section.
$1.7m seems like the "new normal" for something smallish and flawed, totally livable and kinda lovable, but really needing something more... in the hallowed South End.
The poor photos don't do the home much justice. It's a good layout. Huge garage. Comfy place. But it could use a lot. We hope it does not wind up a lot sale. (We've heard conflicting things about the plans for the property.)
- 552 3rd (3br/3ba, 1850 sq. ft., $1.699m),
Wednesday, October 3rd, 2012 at 2:07pm. 621 Views, 0 Comments.
That's "middle of the road" in context. Within MB, that's a median house in a safe, suburban neighborhood. No views, no extravagant frills. Yes, we know that's a great deal of money for housing almost anywhere else.
But there's another "middle of the road" family neighborhood at MB's far eastern edge, with prices half those of the Tree Section or the rest of East MB.
This year, homes in the 10-year-old complex have been trading frequently. Sure, there's no comparing them to SFRs west of…