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        <title>MB Confidential</title>
        <link>https://www.mbconfidential.com/blog/2011-05/</link>
        <description>Manhattan Beach Real Estate Blog with Market Data and Expert Analysis, News, Opinion, Listing Reviews and Open Houses. By Dave Fratello, Manhattan Beach Broker with Edge Real Estate Agency.
</description>
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    <guid>https://www.mbconfidential.com/blog/first-mistake-on-speedy-speckie.html</guid>
    <link>https://www.mbconfidential.com/blog/first-mistake-on-speedy-speckie.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>First Mistake on a Speedy Speckie</title>
    <description> <![CDATA[ 
Welcome back, and here's hoping you had a great holiday weekend. Thanks for permitting MBC a little (unannounced) break.We did have a new South Bay Confidential column this past weekend, looking at the biggest price chops we've seen this year in the broader region. Hint: The bigger they start, the harder they fall. As to weekend opens, this weekend, it looked like a virtual boycott of Memorial Day. We saw only one new offering [226 42nd, (3br/2ba, 1600 sq. ft.), $1.088m, pictured] in the Sand, and El Norte at that.Alas, we didn't visit or review, but we're open to feedback from any who did.So with the past behind us, let's turn to the news.And once again, somehow, it seems to involve the Speedy Speckies.Turns out, the launch price of the flagship of the bucket of 5 new homes, 2516 Pine – the only one that's on the MLS – has been reduced 9 in less than 2 weeks on market. Quite quickly, it's at $1.999m.Are we supposed to have forgotten that 2516 Pine launched at $2.199m on May 16? Are we supposed to forget the published record? (See &quot;$2.2m for First Speedy Speckie.&quot;) Are we supposed to trust the MLS to track this properly?The listing agent did seem to pull what we used to call a &quot;bogus re-list&quot; on the property. At the beginning, the property had the MLS S11062077.Eleven days later, with the price cut, the property acquired its new MLS S11067622.The user-friendly Redfin site counts days on market for 2516 Pine as 4 as we write, meaning they've been fooled. The MLS shows a full 15 CDOM, meaning &quot;combined days on market,&quot; a count which tolls for the property regardless of re-lists. But average consumers – even devotees of Redfin – get the whitewashed record.OK, so they made a mistake with the start price. Who's not human?And that $2.0m-range re-start price is still worth watching. There's a lot of potential profit planned into these quick builds on $800k lots. Just a little less, now, than before.
 ]]> </description>
    <pubDate>Tue, 31 May 2011 13:09:00 -0700</pubDate>
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    <guid>https://www.mbconfidential.com/blog/clogged-strand-finds-6m-option.html</guid>
    <link>https://www.mbconfidential.com/blog/clogged-strand-finds-6m-option.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Clogged Strand Finds a $6m Option</title>
    <description> <![CDATA[ It's a wonder that it took 6 months for 3112 The Strand to reach $6m. (Technically, $5.999m.)Was it not obvious by late last year that the $6.9m start price was a drastic overreach?Clearly, anyone's free to ask $1m, or $2m, or however many m's more than their property's worth. But 3112 The Strand seemed to start a bad trend along The Strand this year, so it stands out for special attention.Back in early March, we featured 3 pretty new Strand listings, all now proving to be overpriced. One was 3112, the others:

2504 The Strand (4br/5ba, 3415 sq. ft.), touted as &quot;exquisite&quot; and &quot;stunning,&quot; but actually dated with an older modernistic update (to a 50s original). Some square footage is tucked away in the back part of a duplex.  


Nearly 90 days into this listing, we can read the market's reaction as, roughly, &quot;Please don't ask $7 million for a house that needs so much work.&quot; 

The start and current list price: $7.190m.




3308 The Strand (technically 3309 Ocean, an SFR with 4br/5ba, 3100 sq. ft.) is also 1950s construction. It's pretty plain on the inside, clearly showing off its past, and a bit unusual, with an  interior, brick-paved courtyard off the middle (Ocean Dr.) level. Nice feature: bedrooms on  the top and bottom floors get ocean frontage.


Blogger Janie Sue Nagy once hinted that 3308 The Strand could be viewed as a &quot;Strand bargain&quot; at the start (and current) price of $6.590m, but we didn't really agree, and almost 90 days into the listing, neither does the market. Also, it seems that a sense of urgency conveyed in the listing language was misplaced (&quot;Call today before this bygone era Beach House is buy gone&quot;).             
In a completely different league is 2016/2020 The Strand, a double lot that has been up at $30m for 4+ months. Obviously the dirt value of each lot, taken alone, does not justify that price – consider simply that the lot at 2020 traded (off market) just last year for $9m. It's the scarcity factor – the difficulty of putting together 2 Strand lots in a good location – that is supposed to add lots of extra value. How much? TBD.
 
What's Strand dirt really worth? There's a lot to debate when you're looking at location, even along The Strand. But we did see one sale near the pier this year at 1012 The Strand, marketed as &quot;land value&quot; pricing with an attractive Spanish triplex as a bonus. The triplex is staying and the sale came in at $5.895m in February. (See &quot;New Strand Sale  ]]> </description>
    <pubDate>Thu, 26 May 2011 18:33:00 -0700</pubDate>
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    <guid>https://www.mbconfidential.com/blog/motivated-if-soft-spoken.html</guid>
    <link>https://www.mbconfidential.com/blog/motivated-if-soft-spoken.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Motivated, If Soft-Spoken</title>
    <description> <![CDATA[ We've been puzzling over 3201 Laurel each time it's hit our radar.That's been over the space of more than 6 months now, so... a lot of small bursts of puzzling. (See our first review here.)It's a home that seems littler than its official counts (3br/2ba, 1650 sq. ft.) would suggest – probably it's the tiny (but remodeled) kitchen that stands out to influence that view.But it's a street-to-alley lot up near the crest of Laurel near 33rd, with treetop views to the south and west. The location is a quiet little pocket of the Trees. A cute home there should find buyers, no?No, not yet. But the newest chop to $1.059m might start to get a buzz going. It's now down more than $200k (-16) from the start at $1.268m last year. The newest cut also came with a critical change in the listing language.To appreciate the change, you have to take a look at the whole writeup. Every word of the listing description is in ALL CAPS, which – online anyway – we interpret as SCREAMING WHY ARE YOU SCREAMING AT ME??But the newest words aren't in all caps. Softly planted in the midst of all the hype is this phrase, in lower case: &quot;seller very motivated.&quot;That follows 8 exclamation points from the prior sentence. It's quite an effect. Guitars are wailing, drums are pounding, the audience is waving fists in unison, and the arena goes shockingly silent for a single, quiet moment. The lead singer bellies up and whispers, &quot;seller very motivated.&quot; Nice effect.Where should 3201 Laurel wind up?Look down the same block along Laurel to 3100 Laurel, an awkward corner lot with a hideous, dated house on it – that home's getting deep into a remodel now, but that inferior house on an inferior lot was purchased for $995k a month ago. (See &quot;Laurel Deal's Done.&quot;) Surely a cuter house in a better location at just $64k more has a chance, finally?Especially if, as they say, &quot;seller very motivated.&quot; ]]> </description>
    <pubDate>Wed, 25 May 2011 04:10:00 -0700</pubDate>
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    <guid>https://www.mbconfidential.com/blog/on-31st-itll-stay.html</guid>
    <link>https://www.mbconfidential.com/blog/on-31st-itll-stay.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>On 31st, It'll Stay</title>
    <description> <![CDATA[ One of the big questions with 608 31st (4br/2ba, 2220 sq. ft.) was, as we put it in a video tour last month, &quot;should it stay, or should it go?&quot;The home is a 1950 original cottage with an add-on in back. The nearly prime location on the &quot;best&quot; (south) side of super, canopied 31st St. would lead many people to conclude that this would be a lot sale.But no. Not this time.After multiple offers, 608 31st sold to buyers who intend to remodel the home – to mend it, not end it.Final sale price: $1.210m for a lot tired home on a lot of average size (4770 sq. ft.) in a much-better-than-average location. We wrote this past weekend of MBC's &quot;preservationist instincts,&quot; which we expect to be thwarted in the case of 3120 Alma, a little vintage house on a Sand Section corner lot.Similarly, for 31st, we had nursed a worry that the cottage was a goner, only to learn that the buyers are keeping it, brightening the day a bit. (And proving again that nursing worries gets you nowhere.)In the &quot;Weekend Opens&quot; post in which we debuted a video tour (below), we wrote:
Though the home's  dated and cramped in parts, it's not wrecked and could be fancied up  with a little vision and some dollars. Economics and progress probably  argue for a scraping and a new home on the site, but we often root for  the underdogs.
Today, underdogs win

 ]]> </description>
    <pubDate>Mon, 23 May 2011 21:15:00 -0700</pubDate>
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    <guid>https://www.mbconfidential.com/blog/weekend-opens-521-522.html</guid>
    <link>https://www.mbconfidential.com/blog/weekend-opens-521-522.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Weekend Opens (5/21-5/22)</title>
    <description> <![CDATA[ It must be Spring, because the Snoop has returned. (No, not the guy kicked out of Mira Costa last week.)Of the 6 homes on this year's Sophisticated Snoop tour, 5 are in MB, including 2 near each other in the South End – a beachy treat and a European delight. You can go to any of the homes on the tour from 10-4 on Sat. or Sun. and buy tix at the door for $30 each. For more on the tour and links to the properties, see Janie Sue Nagy's post. The Snoop options are great, but there's at least one option this weekend that could be a feature on the tour, too: 416 10th, but it's free. See our review below, and plan to drop in Sat. or Sun.To plan your open-house tours for this week, use MB Confidential's online list of Manhattan Beach open houses (it's mobile-friendly).Hill Section910 2nd (5br/4ba, 3400 sq. ft.) is a dozen years old, but shares the basic look and feel of lots of newer homes in the Hill and even Sand sections by this particular local architect.Of the listed 5br, there are 4 downstairs, while one upstairs is an office and probably would remain as such. Downstairs, the master in back has tall ceilings and a surprising feeling of grandeur in a fairly modest space. Across the hall are 2 smallish kid rooms that share a bath, putting the whole fam in very close proximity. The fourth br up front is more of a separate guest suite.You build upside-down layouts to feature views. Mostly, 2nd doesn't have them – there are peeks from the front office and living room, but the views from there require an effort. The big views are off the  deck in back off the kitchen/great room. The PV+blue views are great now, though we should note that a maxed-out house replacing the nice, but older, house in back could seriously challenge the views in the future.Busy 2nd St. is going to be a factor for a lot of people – traffic is quite noticeable from the office or front living room.  We've seen 910 2nd before. The sellers tried in 2008 at $2.895m and took some cuts later. They tried again in 2010 and were at $2.299m in June 2010. That's where they restart now.910 2nd restarts at $2.299m and is open Sun. 1-4pm. 707 Anderson (5br/4ba, 3800 sq. ft.) is an extra-large custom Spanish built in 1990. It's quite big, but most buyers will want to update it. Of the home's 5br, there are 4 downstairs in this upside-down layout, including one of the 2 master suites. A big kitchen and 2 living rooms are upstairs, including a sunny, southern-exposed deck right off the living area.The smallish back yard – now dominated by a lap pool – feels somewhat more like the Tree Section than the Hills.Now at $1.949m, 707 Anderson is open Sun. 2-4pm.Sand Section



416 10th (4br/6ba, 4300 sq. ft.) has to be the highlight of the weekend, at least among the free open houses.It's an abundantly custom, European-styled home (some Spanish and French details and accents) with a pleasantly different layout and flow to it.At every turn, some small detail makes you take note of how inspired the build was – a unique type of distressing treatment to the wood floors that gives them a very old, yet clean look; little flower designs etched into the wrought-iron handrails on the stairs; true plaster walls with trowel marks and curves at the ceilings that lend an almost ancient air. There are dozens of little &quot;wow&quot; moments throughout as you see the quality materials and thoughtful implementation.On the walkstreet level, the 2004 build offers a big living room that opens out to the front patio – which should be de rigueur for newer walkstreet homes, but you don't always see it – plus a very private guest suite in back. Three more bedrooms are on the midlevel, including the master with a florid, centuries-old, hand-carved, imported Indian door. The whole suite seems huge. Top level includes terra cotta floors and a huge kitchen.416 10th is one of those homes that's hard to reduce to words, even as we try. Definitely worth a look.416 10th starts at $3.295m, and is open Sat. &amp; Sun. 1-4pm. 



3120 Alma (3br/2ba, 1425 sq. ft.) is probably a lot sale, and a bigger-than-normal (3500 sq. ft.) lot at that – on a corner with ocean views.The 1920s original home tugs at our preservationist instincts – isn't there a way to make this little place work somehow?But it needs everything. New kitchen and baths are obvious. Fixing the odd addition in back to make it real living space – and to erase the mistake of dividing a bathroom down the middle with a hallway – could require some serious construction.And if you do all that work, you've still got a pretty small, one-story house that will raise the same question the next time it hits the market: Wouldn't it be better to scrape this and start over?The more interesting question is what the right price is for a lot of this size and location up on the plateau. We don't see a lot of trades like that. Though this is yet another in a seemingly endless supply of homes along Alma to come up for sale.3120 Alma starts at $1.495m, and is open Sun. 1-4pm.  



462 36th Place (2br/2ba, 1200 sq. ft.) requires us to do a little rewrite.The home's been redone substantially since its last purchase in 2008, evidently at great expense, and it's different – no longer the shabby, slapdash remodel with utterly bizarre features that we called a &quot;Turkey&quot; in 2007.There are now real wood floors, not Pergo installed on the fly. The kitchen is still a small alley, but it's upgraded. The baths are modern.Maybe the biggest change: What we once called the &quot;Tower of Horrors&quot; has been rebuilt. The stairs up used to be too steep and narrow; now they're normal. A loft area that was effectively the third floor, but accessed only by a flimsy ladder, has actually been built out as a proper third story – with a real floor and real stairs.The home can now be said to have 3br, one on each level, though the middle &quot;bedroom&quot; still has no separate door to seal if off from the stairs up or down. Is 462 36th Place now a gem or dream home? Not exactly. It's a tight fit with an odd layout in a poor location on an alley. But it's more credible now than it was the last time around, when the current owners paid $825k.Oh, go ahead and say it now: MBC has gone soft. (Disclosure: We got a free sandwich during our tour.) The fact is, there's been real change and we needed to recognize that.462 36th Place starts at $925k, and is open Sat. &amp; Sun. 1-4pm. 



319 32nd Place (1br/1ba, 525 sq. ft.) is a cute little place for your flip-flops and board, though not much else.Yes, that's just 525 sq. ft. of living space, and the outside ain't much to look at, though the interior's got its charms.Mostly this seems to be a chance to park yourself on an alley half lot (1350 sq. ft.) for one of the lowest prices we've seen in the Sand: now $699k.The home needn't be scraped at once, but practically it can serve only as a weekend getaway or the home of a single person... maybe a couple with no plans to expand the family.An intriguing option would be to hold the land till the neighboring half-lot (adjoining 32nd) can be acquired. Maybe an option soon, maybe not. A street-to-alley lot here would offer better development options.  319 32nd Place is at $699k and is open Sun. 2-4pm.Tree SectionHow do you like the 700 block of 29th? This week you have 2 options.



705 29th (5br/4ba, 3750 sq. ft.) is an early-90s custom build with some updates. If you know this builder's name, you know to raise your expectations.The phrase &quot;lovingly maintained&quot; in the listing might warn you that nothing's been brought into the 21st century, but we thought a couple of baths had a polished, newer look and the kitchen did not all have to be 20 years old.Overall the layout offers all the things you might hope for in a good floorplan – a first-floor bedroom tucked away that might serve older guests equally well as it might be the family office. Lots of open, but separately defined living spaces around the downstairs spaces, opening nicely to the back patio. Upstairs, 3 of the 4br are together, while another is truly a separate suite with its own staircase up in front. The master and its bath are quite large, and while you might update the materials, it's not urgent.The walkway in front and the whole back yard/patio feature newer pavers that give a sharp, newer look, distancing the home from its birthdate. At $1.875m, the location, condition and flow frankly blow away some contenders at or near the price point.705 29th starts at $1.875m and is open Sun. 1-4pm.



743 29th (4br/3ba, 2025 sq. ft., 8400 sq. ft. lot) is probably yet another lot sale.Can you remember so many lot sales hitting the public market, let alone going up for public opens? Some years ago, you never saw the choices – spec builders did. Now, each week brings 1-3 more for all of us to see. The existing rancher here – originally a 1930s build, but probably added to since – wraps around a central, concrete courtyard and the garage, tucked in back. The home isn't decrepit, but it's not too big and it'll be hard to draw nearly $2m for the privilege of living in this house.To sell this as a unique option, the listing chirps, &quot;You've waited over 55 years for this one.&quot;Do we expect a 55+ buyer? The listing also calls this a &quot;double corner lot, A+ tree section location,&quot; which is a little harder to argue with – though the lot probably is not splittable, just big. 743 29th starts at $1.849m, but check out the big neighboring lot at 2920 Agnes, where construction is under way now. That lot sold for $2.1m in Feb. 2010. It's 10,800 sq. ft., a full 22 larger than 29th. If lot square footage were precisely comparable, you'd be near $1.65m for 29th.743 29th is open Sun. 2-5pm. ]]> </description>
    <pubDate>Sat, 21 May 2011 05:14:00 -0700</pubDate>
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    <guid>https://www.mbconfidential.com/blog/flashbacks-from-08.html</guid>
    <link>https://www.mbconfidential.com/blog/flashbacks-from-08.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Flashbacks from '08</title>
    <description> <![CDATA[ What kind of difference does 2-3 years make?In recent days and weeks, we're seeing at least 3 listings hit the market that last sold in 2008, each with a not-insubstantial history at MBC.Do they want more, or less, than their 2008 prices?

532 6th (4br/4ba, 2750 sq. ft.) is a high-concept modern that manages to be warm and family-friendly, too, though some spaces are cramped. Even with the Valley-front location, we've had a soft spot for this one somehow. We could rave a bit, but let's save that for another time.The home sold for $1.818m in March 2005, tried (and failed) at $2.7m in late 2007, and eventually sold for $1.820m in Oct. 2008 – yes, just $2k above the 2005 price. Just over 2.5 years later, 6th is back at $1.989m to start, a markup of $169k (+9). 

742 27th (4br/4ba, 3550 sq. ft.) is a late-80s build that struck us last time as pretty special. We even ran a pricing poll on it. (Remember those?)The 2008 listing called the remodeled home &quot;better than new.&quot; While we explored that label critically, we tended to see it as accurate. In 2008, it showed really well, the layout seemed friendly and only the exterior seemed to need help. (See our story here reviewing the property and setting up the poll, and this one with the poll results.)Ultimately the home traded for $2.075m in April 2008. It's back now asking less: $1.999m (-3). Some longtime readers will remember a little controversy that bubbled up over 742 27th. A commenter reported hearing that there was a problem with a fence crossing a property line. MBC published a story refuting that. (See &quot;Fence is Alright at 742 27th.&quot;) Currently the home doesn't show as sparklingly as we recall from before. But it's still a huge and updated house with a good floorplan in a good location. One of these days someone will help the outside to properly advertise the inside.

462 36th Place (2br/2ba, 1200 sq. ft.) seems like a ghost we conjured. It was just last week in &quot;Under $800k in the Sand&quot; that we happened to mention this home. We don't get to write about SFR sales in the Sand under $800k much, because they virtually never happen. But, once upon a time, 462 36th Place was one – in Aug. 2007, before a sorta remodel.Our coverage was not complimentary. Around Thanksgiving 2007, we advised readers to give thanks that they did not live here. (See &quot;A Real Turkey.&quot;)  In Nov. 2007, after a quick remodel, the new owner, who paid $760k, tried to get $930k. In Aug. 2008, they got $825k, which might have paid for the costs of holding, remodeling and costs of sale, or maybe not.The newer version of 462 36th Place seems to have had some additional work. They're up there asking $925k (+$100k/+12) to start. So look at these 3 flashback properties as a bunch.All 2008 purchases. The best of the bunch wants 9 more than 2008. The middlest wants 3 less than '08. And the lowest-priced and most, er, acquired taste of the bunch wants 12 more.Can anyone get more than a 2008 price here as Summer 2011 approaches? ]]> </description>
    <pubDate>Fri, 20 May 2011 04:11:00 -0700</pubDate>
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    <guid>https://www.mbconfidential.com/blog/cheap-dirt-pricey-walkstreet-house.html</guid>
    <link>https://www.mbconfidential.com/blog/cheap-dirt-pricey-walkstreet-house.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Cheap Dirt, Pricey Walkstreet House</title>
    <description> <![CDATA[ It wasn't so very long ago that we saw a particular flat, South End walkstreet lot sell for a number that seemed a low point for the area for dirt in a good location.The lot was then called 441 6th Place, at the corner of 7th/Ingleside. It hosted a little home and garage with a noteworthy cactus garden between. The dirt sold in Jan. 2010 for $1.5m.

Soon, an ambitious custom build was under way. The design was inspired by the &quot;British Colonial&quot; style that may be emerging as an alternative to &quot;Cape Cod&quot; and the various -erraneans.The grandest execution of &quot;British Colonial&quot; – 212 The Strand, the first and last triple-lot on MB's beachfront. (See &quot;Big, Beautiful, Too Much?&quot;) At 441 6th, after all the searching for a perfect lot, and all the work building a custom, fully detailed-out house, the owners had a change in plans. They offered their product up to someone else who might love it.It's been an open secret for months that the new home, newly rechristened 440 7th, could be had. Now the sale has closed at $3.660m.The home's almost as big as they come on these standard size, 2700 sq. ft. lots: 4br/5ba, 4000 sq. ft. You expect high-end everything from this builder.The sale's a significant jump from a new home sale last year, one short block away along Ingleside.Last July, 440 6th, a somewhat bigger new Cape Cod (6br/6ba, 4200 sq. ft.) sold for $3.275m. The bump for 440 7th is +$385k/+12 for a custom home, better location, and a sale done quietly off-market rather than after a public, rocky year on-market with more than $1.2m in cuts. (See &quot;Close the Books on 440 6th.&quot;) It may be time for a bigger look at the South End walkstreets. About a year ago we looked at the sales activity in the area somewhat comprehensively in &quot;Flat Walkstreet Action.&quot; We'll put an update on the list. ]]> </description>
    <pubDate>Thu, 19 May 2011 03:41:00 -0700</pubDate>
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    <guid>https://www.mbconfidential.com/blog/22m-for-first-speedy-speckie.html</guid>
    <link>https://www.mbconfidential.com/blog/22m-for-first-speedy-speckie.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>$2.2m for First Speedy Speckie</title>
    <description> <![CDATA[ 

From 'dozer to domicile in 5 months?That's what they're promising at 2516 Pine, the first of 2 spec homes going up right now on the former double-lot at 2600 Pine. It's the first of 5 new homes under way that we called the &quot;Speedy Speckies&quot; in a post just a few weeks ago. We were amazed by the rapid progress on all of these homes shortly after escrows closed on nearly simultaneous land deals. This sketch is our first look at the expected end product. The listing promises 5br and 4.5ba, and while square footage isn't yet listed, you'd expect 3100-3250 sq. ft. or so.Start price: $2.199m. They estimate completion in 90 days.It's hard to compare these to any other new construction sales today because, well, there aren't any. 

One comparison – if not a formal comp – that pops up is one of the last examples of this builder's work to sell in the Trees: 1901 Poinsettia (5br/5ba, 3200 sq. ft.), which sold for exactly $2.0m in March 2008.Poinsettia launched at $2.499m in Aug. 2007, but the market was beginning to collapse by then and it was clearly overpriced. Chops began in Sept. 2007, and the listing for Poinsettia was at $2.179m by December and $1.999m in mid-January 2008.There's a note in the old listing saying, &quot;Show your buyers willing to make full price offers  This price is FIRM&quot; We're going to guess that note applied to the $1.999m price, and not the 6 different offering prices before that.      A buyer knocked a month later and took it for full price, as instructed.Looking back now to 2516 Pine, remember that the double lot went for $1.6m, so individual lots were valued at $800k. Between that $800k and a $2.2m offering price, there may be some, er, flexibility – there's a lot of profit built in. No doubt, these speckies will be fascinating to watch. ]]> </description>
    <pubDate>Tue, 17 May 2011 16:01:00 -0700</pubDate>
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    <guid>https://www.mbconfidential.com/blog/weekend-opens-514-515.html</guid>
    <link>https://www.mbconfidential.com/blog/weekend-opens-514-515.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Weekend Opens (5/14-5/15)</title>
    <description> <![CDATA[ Thanks for hanging with us this week as the world of Google-hosted blogs – of which MBC is but one – experienced a huge burp. For a couple of days we could not log in to the system's &quot;back end&quot; to post or edit, and a recent post vanished, returned, and vanished again. (It's back).That was annoying, but not quite as scary as the day back in March when MBC literally disappeared for almost an hour after the site was hacked. (We're looking at you, Mr. Bulgarian bad guy.) Fortunately, most readers didn't see any disruption from that previous problem.It's good to be back, and humbling to be reminded that every single one of us is subject to the whims of The Google – unless we unplug. (Time for a camping trip?)To plan out your tours, try 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 Beach Reporter list of opens.Sand Section305 Homer (3br/4ba, 2150 sq. ft.) is a standalone TH way down south – so far south for MB that the street is literally half MB and half Hermosa. (MB seems to favor asphalt, while Hermosa likes concrete.)It's a plus that this one is the second home off of Highland, which, after all, isn't that busy near HB.The custom layout is a bit startling. The first floor offers only the garage and a smallish, tiled media room. The midlevel hosts all 3 bedrooms, and nothing's big or particularly ornate. It's a Sand TH, so of course the top level hosts the modern kitchen (it's a 2005 build) and the main living/dining spaces. Views, though – they're sparse. There is a spacious balcony off the living room.MLS records tell us that this TH started at $2.165m new in 2005, selling after about 2 months for $1.950m in Nov. 2005.305 Homer starts now at $1.8m, rewinding about 8 back from 2005, and is open Sat. &amp; Sun. 2-5pm.473 34th (3br/4ba, 3175 sq. ft.) has made a few runs now in the public market, starting new this week with a new agent.As we've noted before, the  custom Mediterranean has a very familiar look and feel if you know the local  architect's work, but the layout's quite different, and the choice for  3br, instead of more, will limit its appeal to families. With 2br on separate floors being accessed off their own  private step-up staircases (they're over the garage), the layout simply takes some getting used to.We're told that the home's newly staged in a more comfortable, less formal style. Though we haven't seen it yet as such, if you've had this one on your radar, it may be worth another look at the reimagined version.  473 34th is still asking $1.995m. One way to think about this price point is to look at what you can get in a townhome in other areas for about the same price – you'd expect a smaller home and much more cramped layout, putting 34th in a somewhat better light. It is open Sun. 1-4pm.Tree Section

3008 Ardmore (3br/2ba, 1900 sq. ft.) is a wonderful blend of old and new, a nicely maintained 1950s rancher with a fully modern kitchen and a nearly double-sized lot (7490 sq. ft.). The extra land affords an ample and cute front yard, with bushes blocking off the view and some noise off of Ardmore, plus a more than adequate and nicely landscaped back yard.All the bedrooms are of a decent size, but you won't find a true master. The largest bedroom attaches to a hallway bath that is also needed for the other 2 bedrooms. The bath has got more original features than modern details and could use an update. The kitchen is almost too modern for the traditional, Craftsmanesque style that pervades the home (enhanced by current furnishings) – not that anyone will complain about a sharp, gourmet kitchen. Two living rooms, including one that opens with big sliding glass doors to the back yard, make for plenty of shared space. You wouldn't be surprised to see a home like this start somewhat higher than $1.189m, but that's where 3008 Ardmore starts. It's open Sat. &amp; Sun. 2-4pm.The listing for 2418 Ardmore (5br/3ba, 3450 sq. ft.) says, somewhat defensively, &quot;don't be fooled by address.&quot; We'll take that as an inartful way of saying, &quot;sure it's on Ardmore at Pacific, but you should give it a chance.&quot;  If you do come through, you probably will be pleasantly surprised. There's a lot of house here, with 5 full bedrooms (one now set up as a playroom) – all upstairs – and plenty of living space spread around downstairs. Though the home sports a mid-80s build date, it's obviously been updated a great deal recently. (A 2007 listing seems to show all the updates present now.)2418 Ardmore starts at $1.649m, a modest markup from the Aug. 2007 acquisition price ($1.555m). A markup over 2007 – that'll be one to watch.When we think of big homes with location issues (don't be fooled), there's one recent sale the comes immediately to mind: 1724 Oak (5br/4ba, 3325 sq. ft.), a newer (2000) home that had just been given the complete treatment and felt brand new – it sold for $1.575m in March, providing an interesting comparison.2418 Ardmore is open Sun. 2-4pm.1900 Palm (3br/1ba, 1200 sq. ft.) is going to be viewed by plenty of folks as a lot sale, but there's no doubt that the existing home could make for a decent longer-term investment or a starter home for a family that can handle a little squishing.Maybe the fresh paint job and the tidying up of the property are meant to draw in the buyers who can almost imagine making the home work as it stands. But there's this blinking light: One small, original bathroom. The listing further describes the sale as an &quot;as-is&quot; offering, so caveat emptor. 1900 Palm starts at $1.049m, and is open Sun. 1-4pm.1808 Pine (3br/3ba, 1725 sq. ft.) has location going for it, but the home needs a lot of help. The &quot;one-of-a-kind design&quot; (per the listing) is not very attractive. The separate garage out front is connected to the main home through a small passageway; meantime, owners and visitors will typically approach the home along what feels like a narrow bridge. (Pictured.) All that's missing is the moat.Inside, the home's 3 original bedrooms include 2 that are quite small. The master features nice, woodsy builtins and divided windows looking out over the treetops, but the bath is – maybe predictably – dated.The kitchen features dark wood cabinets and needs an update, pretty much the story for the whole house. Even the back yard will need attention, as it feels cluttered and overgrown.1808 Pine starts at $1.130m, and is open Sat. &amp; Sun. 2-4pm. ]]> </description>
    <pubDate>Sat, 14 May 2011 14:12:00 -0700</pubDate>
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    <guid>https://www.mbconfidential.com/blog/under-800k-in-sand.html</guid>
    <link>https://www.mbconfidential.com/blog/under-800k-in-sand.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Under $800k in the Sand</title>
    <description> <![CDATA[ They finally sealed up 3515 Vista, roughly on the plateau near Rosecrans. It's a rare sale of an SFR under $800k in the Sand Section.Final price: $779k.The listing still blares, &quot;THIS PRICE HAS NOW GOTTEN TOO GOOD TO BE TRUE.&quot;The home's a clean but dated 1950s cottage on a slightly-more-than-half lot (1650 sq. ft.). Officially, the home offers 2br/2ba and 864 sq. ft. of all-upstairs living space over a 2-car garage. A little office/crash room downstairs has a window and probably doesn't figure in. It has the more updated of the 2 baths, oddly placed with its own door direct to the back patio (can you say, &quot;fancy surf shower?&quot;) Looking back to January 2007, we found only 2 true Sand Section SFRs that sold for less than $800k:

201 44th, a little cottage (1br/1ba, 1800 sq. ft. on a 1300 sq. ft. lot) in El Porto Norte, at $799k in Sept. 2009; and 



462 36th Place (2br/2ba, 1000 sq. ft.), one of the truly bizarre homes pieces of shelter we've encountered in several years of looking at MB properties – $760k in Aug. 2007 before a rehab job that we wrote up in &quot;A Real Turkey&quot; (remember the &quot;Tower of Horrors&quot;?). 

Want to go further back? Before those mid-2007 sales, the last Sand Section SFR sale below $800k was in August 2004 – a full 3 years prior, and nearly 7 years in the rear view mirror from today. That was 226 44th, a tiny Porto house (1br/2ba, 700 sq. ft.) on a tiny lot (990 sq. ft.) that went for $780k. (It resold in '07 for $871k.)

What's interesting about 3515 Vista beyond its price may be that it could pencil out as a rental at or near that acquisition price.The home has been a long-term rental, so an investor could go into this one with a decent down payment and knowledge of market rent sufficient to put it right back out there as an income property. The 1650 sq. ft. lot will appreciate over time, even if the little cottage won't – could be a good way to make money long-term if the buyers aren't entry-level folks looking simply to get into the 90266.MBC ran through the property and posted the video tour above and at this link  back in February. Enjoy. ]]> </description>
    <pubDate>Thu, 12 May 2011 17:54:00 -0700</pubDate>
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