Archive for December, 2007
December 31, 2007
Did everyone get everything they wanted for Christmas? At least everything but a new home? Well, if you’re looking in Westchester, there are a few newbies on the market for you to consider. The La Cienega home is more affordable, but fronts a busy street. The one on 90th St. seems a wee bit overpriced - especially considering it needs work. According to the listing, someone bought it, ran out of funds, and is looking to sell. The Belford property is east of La Tijera and north of Manchester. That one looks ready to go as is from the pictures. Take a look.
7153 S. La Cienega Blvd./3bd, 1bth/Two-story/$570,000
7236 W. 90th St./3bd, 2bth/Needs work/$825,000
8512 Belford Ave./4bd, 3bth/Move-in condition/$758,000
December 31, 2007
Your head might spin trying to keep track of all of the developments and re-developments happening in downtown Glendale these days. The city is still bullish on its prospects, declaring that “The market for housing development in Glendale continues to be very strong”. Here are a few of the recently approved, and a few nearing completion:
City Center II
Location: Brand/Wilson
$210-million, connected dual-tower, mixed-use residential, commercial and hotel combo
West Tower: 135 condominiums
East Tower: 49 condominiums and 172 hotel units
Redevelopment project of former Department of Public and Social Services building
Location: (Broadway/Louise)
Six-story, 62-unit condominium building
The 416 (pre-qualifying for interested buyers)
Location: Broadway/Jackson
118 unit mixed use residential condominium, approx. 10,000 sq.ft. commercial
Americana at Brand
Location: Brand/Broadway
475,000 sq.ft. of retail with 338 residential housing units, expected completion Spring 08
December 30, 2007
The eyes of the world will be on Pasadena these next few days. Between the Fighting Illini taking on USC in the “The Granddaddy” of college Bowls, and the spectacle of Tournament of Roses Parade, one might even find the time to look for a home in this here Crown City. Here are some of the latest on the market:
920 N HUDSON AVE (re-listed bank owned)
$549,900
Beds: 2 / Baths: 2
SQ.FT.: -
$/SQ.FT.: -
267 N Craig AVE #A
$799,000
Beds: 4 / Baths: 4
SQ.FT.: 1,950
$/SQ.FT.: $410
184 Avenue 64
$1,080,000
Beds: 3 / Baths: 3.5
SQ.FT.: 2,295
$/SQ.FT.: $471
355 South Madison AVE #318
$329,000
Beds: 1 / Baths: 1
SQ.FT.: 714
$/SQ.FT.: $461
December 29, 2007
As you’d expect, Open Houses are scarce this weekend; however if your appetite must be satiated in this area you might look toward Eagle Rock with these two offerings, of which, 1205 EAGLE VISTA DR opens with truly one of the worst listing photos I’ve ever laid eyes on.
Listings open Sunday, Dec. 30; 1 to 4PM
4243 YOSEMITE WAY
$714,500
Beds: 4 / Baths: 2.75
SQ.FT.: -
$/SQ.FT.: -
1205 EAGLE VISTA DR
$989,000
Beds: 3 / Baths: 2
SQ.FT.: -
$/SQ.FT.: -
December 26, 2007
As you might expect, there’s not a whole lot of activity happening as far as listings right now. But this update came across this morning. Apparently, this five-bedroom, four-bath house in the Hollywood Dell area (in L. A., south of Hollywood Reservoir) has fallen out of escrow after 237 days on the market, and its exasperated owners have chosen to slash its price – from $2,495,000 to $1,999,000.
This is a huge house on a fairly big lot (nearly 10K square feet). It kinda looks like a big tract home — I’m sure it was a teardown. But a 20 percent cut in price is certainly worth noting. We’ll have to see whether this does the trick.
Prices in the neighborhood vary wildly: For sale on the same street are this three-bedroom “pre-foreclosure” for $777,777 (cute; lucky for someone, but not the seller); and this seven-bedroom, 10-bath for $6,695,000.
December 26, 2007
Thanks in large part to fallout from the housing market, an economic recession may be unavoidable, according to this L.A. Times article.
California’s employers added only a net 900 new jobs to total nonfarm payrolls last month, increasing some economists’ concerns that the weak housing market and mortgage crisis could push the state into a recession.
How long will the economic downturn last?
“We see substantial weakness in real estate and employment growth below 1% through 2009,” said Ryan Ratcliff, the forecast’s head economist. “It will be pretty slow in 2008 and better in 2009.”
December 25, 2007
This article in The New York Times notes that homeowners throughout the country are appealing their property-tax assessments in light of lower home values.
For example, in 2007 roughly 1,800 homeowners asked for reassessments in Los Angeles County, far above the average of about 500, yet far below the tens of thousands of homeowners in Los Angeles who looked for tax adjustments during some years of the downturn in the 1990s. But elected officials and property tax experts said that the numbers were notable and that they expected them to grow in 2008.
Contact your county assessor (the person who sends you your property-tax bill) for more information.
December 24, 2007
We’ve been saying that home prices are coming down, but even we couldn’t have imagined they’d fall this much. Check out this listing for a two-bedroom, two-bath condo in Westwood — priced at just $3,200!
OK, of course we know this is a mistake. Clearly our seller should have hired an agent who knew that the property was worth more than $3,200. The agent’s listing description should have set off alarm bells (e.g., “recess lighting,” “aces to transportation,” etc.). Plus, there are no pictures of the property, which was listed the weekend before Christmas!
Like we said, this one won’t last.
December 22, 2007
You have to wonder why anyone would choose Dec. 21 as the day to list their home. Even if you don’t celebrate Christmas, lots of folks do, which is one reason this time of year is traditionally the slowest for home sales. Coupled with the terrible economic conditions, you have about as much chance of getting a buyer right now as Lynne Spears has of becoming Mother of the Year.
Even worse, some listing agents make it even harder on themselves — and their clients — by creating listings that are less than appealing.
Here are the few Hollywood-area properties new on the market as of Friday.
1303 N. Sierra Bonita Ave., Los Angeles: Check out the first few photos of this three-bedroom, three-bath home, priced at $724,900. They are downright scary. To be fair, the listing description does contain this warning: “This home is ready to move in and has been updated in some areas, but be aware that this is a 91 year old home and shows its age.” Um…what the heck does that mean?? I’m even more scared now.
2055 Laurel Canyon Blvd., Los Angeles: Here is a quirky little short sale, priced at $649,000. It’s actually two separate residences: a one-bedroom, two-bath “main house” and a 1+1 guest cottage, “perched high off the street.” It also features a 10,000-foot lot. Looks interesting. Guess the bank wanted to put it out there asap.
And finally, there’s 6551 Franklin Ave., Los Angeles, a three-bed, three-bath, 1,966-footer that’s priced at $1,200,000. The listing description assures that the home is gorgeous, and we’ll have to take her word for it, since there are no accompanying photographs. Someone please explain to me why anyone would put a listing up on the MLS with no photos! Doesn’t that just scream, “I’m hiding something!”
Happy Holidays, everyone!
December 21, 2007
Who’s staging an Open House on the eve of Christmas Eve? Not too many brave souls. For the lucky few not braving the hordes for last-minute shopping, here are a few paltry offerings for you this weekend.
Rather stay in? Why not cozy up to cherished ‘classic’ Jingle All The Way and reminisce of the good ol’ days when the Governator spent the holidays starring in sappy Christmas movies instead of assuring Californian homeowners everything will all be alright.
Merry Christmas!
Listings open Sunday, Dec. 23; 1 to 4PM
1370 IRVING AVE
$859,000
Beds: 4 / Baths: 3
SQ.FT.: -
$/SQ.FT.: -
1375 S Los Robles AVE
$1,995,000
Beds: 3 / Baths: 4.5
SQ.FT.: 4,206
$/SQ.FT.: $474
