Weekend Opens (11/7-11/8)

By Dave Fratello | November 7th, 2009
The dog-trainer had a story Thursday about pricey homes being opened up to the public – "open-house upscaling," they called it.

The point of the story being: if $10m+ Westside L.A. homes are being shown freely to the rabble, it's some kind of sign of the times.

Still, one agent who recently held a $13m home open said: "You'd be surprised at the high-profile people who come through on a Sunday open."

Indeed, and some of them just may come because a little real estate blog sent them.

Here at MBC we'll often call attention to the debuts of high-priced opens, as we did most recently with 2920 The Strand and with Lamar Odom's house (not so high-priced, but high interest). This weekend you could see:
  • 116 Terraza (East MB), still at $10m, and looking increasingly like a fixture on the weekend-opens circuit, open Sun. 1-4pm;
  • 645 9th, a huge, certified "green" house in the Hills, at $7.475m, open Sun. 3-5pm; or
  • 216 7th, an elaborate Tuscan-inspired home on a beach-close, ocean-view walkstreet near downtown, now at $5.595m, open Sun. 1-4pm.
It's hard to say how this selection matches up against the best of 90210 and so forth, but we can boast a short flip-flop hop to the beach, and no booties at the opens – just shuffle in and ditch the sandals at the door. Try that in the Hollywood Hills.

To plan your open-house tours for this week, use MB Confidential's online list of Manhattan Beach open houses (it's mobile-friendly!).

Please report back here at MBC on any open houses you visit – what you like, what you don't like, etcetera.

Hill Section

918 1st won't make any list of "open mansions" this weekend – it's nearly the opposite, despite the $3.4m pricetag.

When the first listing pic is a view from the property, it's probably a lot sale.

And yet it's one of our favorite kinds of open houses, anyway, beckoning: "Come see the 70-year-old cottage that's sure to be razed by the next owner."

The lot is a very decent 10,000 sq. ft.  Open Sun. 2-5pm to feature those sunset views.

Sand Section

After trying to sell for 6 months mostly without public opens, 221 3rd (4br/5ba, 4075 sq. ft.) is breaking down and letting the commoners in. (Maybe the sellers read that LA Times piece, too.)

The west-of-Highland home is a bold, newer (2006) Mediterranean that is beach-close with big ocean views.

It's what you want in a walkstreet in the South End.

Priced at $4.495m, pretty much unchanged since mid-May.

Open Sun. 1-4pm.

317 8th is a corner lot at Crest on a flat walkstreet right near downtown.

The listing gamely attempts to tout the features of the current house, allowing for how someone might actually buy the home to live in rather than to scrape, but there's not much heart in it.

Like with our first-pic-is-a-view rule above with 918 1st, we're thinking: If you keep the blue carpeting, you're probably not trying to sell the house itself.

Regular readers know MBC is walkstreet-friendly, even going so far as to label the controversially kid-friendly 7th St. walkstreet a "Great Street." What's interesting is that properties down south just didn't trade much for a long time, but now we're getting some data points that are reducing the mystery and resetting values.

Just across the street, the lot-and-a-half at 316 8th sold recently (closed in mid-Sept.) for $2.150m.

That 4,040 sq. ft. lot went for $532/PSF for the dirt; the regular-size lot at 317 8th is priced at $1.699m or $629/PSF, though of course this comparison is inexact.

A prime, interior flat-walkstreet corner lot at Ingleside/7th (441 6th Place) hit the market Sept. 30 at $1.649m and apparently sold quickly; we'll have to wait to see where it winds up, but that one could pull 8th/Crest down a bit.

Finally, for some historical perspective, that 6th Place corner lot started out $400k less than 440 6th sold for in 2007, before it got a new $4m house on it (active still).

Several data points, a down trend – good for those who'd like some of that sweet land before the kids are too big to enjoy the walkstreet.

317 8th is open Sat. & Sun. 1-4pm.

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