Monday, December 31, 2007
Friday, December 28, 2007
The Case-Shiller year-over-year decline for LOS ANGELES of April 1991 vs. April 1990(a.k.a. the begining of the last bust in housing) was 7.16%.
Do you know what the year-over-year decline for LOS ANGELES was for October 2007 vs. October 2006? Do you?! *drum roll*
That's a record.
Source. (Note: It's in MS Excel)
Thursday, December 27, 2007
Property Shark details:
$148.5k Grant Deed from Bin, Fred & Anna to Garcia, Joel & Hayde
$000 Grant Deed from Garcia, Joel to Garcia, Hayde
$451k Trustee's sale from Alliance Title to HSBC Bank
$534k Grant Deed HSBC Bank to Mosher, Michael
Listed by Mosher on 08/01/07.
Price Reduced: 08/14/07 -- $719,000 to $689,999
Price Reduced: 08/25/07 -- $689,999 to $670,000
Price Reduced: 08/27/07 -- $670,000 to $659,999
Price Reduced: 08/28/07 -- $659,999 to $649,999
Price Reduced: 09/13/07 -- $649,999 to $634,999
Price Reduced: 10/13/07 -- $634,999 to $619,999
Price Reduced: 10/31/07 -- $619,999 to $599,999 (16.55% down)
08/14/07: Zestimate™ $645,201
12/27/07: Zestimate™ $577,913 (10.43% down)
Monday, December 24, 2007
Debbie Domer, director of marketing for Honey Baked Ham, says: “The ham has already been fully cooked and smoked for up to 24 hours,” she explains. “It’s very delicate, so we recommend bringing it out (of the fridge) about 30 minutes before serving so it will come to room temperature.” Not only can heating a Honey Baked Ham dry it out, it can turn that signature, crunchy honey coating into mush, Domer says.
The 50-year-old company still sells more hams at Christmas, but Easter is the second-biggest time of year, Domer says. And if you’re wondering, the Southern United States is the country’s biggest consumer of hams. Honey Baked Ham is well known for its honey glaze and its precut “spiral sliced” hams, which the company says makes for easy serving. But there are lots of other places to buy a ham in town. And you don’t necessarily need a spiral cut to enjoy some of that falling-off-the-bone hammy goodness.
MLS #: F1747435
This blog doesn't normally venture so far North in the Valley, but we are making an exception for this submission by Reader Rich.
First: Hee! Because I have the same sense of humor, apparently, as a 9-year-old boy I think it's funny that this house is located on Kickapoo Trail. Get it? Kick a poo? Ha! Okay, sorry.
So, this house is located in the Pornography Capital of the World (whatever, you can say it's Tokyo all you want, everybody knows Chatsworth is REALLY the capital), and granted it is likely a tear down, but I don't think there was a mansion on the land the last time it sold. So how do you justify the 44.71% haircut? See below for the dirty details.
Last Sale: 08/10/06
Sales Price: $520,000
Current List: $287,500
Full Baths: 1
Square Feet: 758
Lot Size: 13,939 Sq. Ft.
Year Built: 1946
Listing Date: 12/21/07
Friday, December 21, 2007
"... I noticed that the purchase contract is for the amount of $620,000. But when I met with the seller at the house, he tells me that there is another purchase contract floating around somewhere for the amount of $680,000."
"I asked him, in this market, how did he get from $620,000 to $680,000? Did the buyer agree to this increase and is the contract fully executed (meaning has it been signed by both buyer and seller)? He then told me his loan broker determined the new price and needed the value to be increased to make this deal work."
"Because there was so much confusion, I pulled out my cell phone to call the loan origination manager at my office with the hopes to clear up some of these questions. He reached over and yanked the phone out of my hand and said to me, 'I don’t want the appraisal anymore. You can go.' "
Thursday, December 20, 2007
Curious if your neigborhood is foreclosure hell? Now you can checkout the trustee sales (red dot) and notices of default (purple dot) at a glance at Property Shark.
Monday, December 17, 2007
MLS #: F1745760
Last Sale: 05/16/06
Sales Price: $1,400,000
We're talking about a $670k haircut. And you gotta love the MLS description:
"Previous owner was in the process of remodeling - come and bring your ideas and make this home yours! Tax rolls shows 5 bedrooms, 3 baths but upstairs bedroom does not have a closet."
Thursday, December 13, 2007
Thanks to the boys at Project Rungay for the clip!
Monday, December 10, 2007
The MLS description reads:
"Huge price reduction!!! Motivated seller!!!!Charm house on a quiet cul de sac street. 3 bedroom + 2 bathroom. Master bedroom leading to a backyard and spa. Fully remodeled and upgraded property. Ready to move in. "
So, how much you wanna bet this listing goes inactive in a day or two? It's just had the telltale price increase:
Price Reduced: 12/06/07 -- $825,000 to $749,900
Price Increased: 12/07/07 -- $749,900 to $780,900
Either they got cold feet, or at least one buyer is still squeezing out the cash-back-at-close deal.
Thursday, December 06, 2007
You can read the official PR yourself here.
But the highlights are:
PropertyShark.com recorded 2436 first time trustee sales in Los Angeles during November 2007, 13.09% higher than last month and 233.7% higher than the same month in 2006.
The top six zip codes for Los Angeles County foreclosures were in Lancaster and Palmdale.
Aren't you impressed with how quickly they get out their data?
I heart PropertyShark! Go on... check them out. Shoo.
Wednesday, December 05, 2007
3909 LONGVIEW VALLEY ROAD, Sherman Oaks, CA 91423
Price Reduced: 09/18/07 -- $815k to $799k
Price Reduced: 10/30/07 -- $799k to $780k
Price Reduced: 12/04/07 -- $780k to $720k
Square Feet: 1,256
Lot Size: 6,307 Sq. Ft.
Year Built: 1952
Listing Date: 09/13/07 (This is a relisting)
List Price: $720K
Last Sale: 10/25/05
Sales Price: $740,000
(photo not yet available)
MLS #: F1745563
Square Feet: 1,014
Lot Size: 14,820 Sq. Ft.
Year Built: 1954
Listing Date: 12/04/07
List Price: $685k
Last Sale: 07/20/06
Sales Price: $856,000
Tuesday, December 04, 2007
5448 ALLOTT AVENUE, Sherman Oaks, CA 91401
MLS #: F1745058
Square Feet: 1,600
Lot Size: 7,300 Sq. Ft.
Year Built: 1933
Listing Date: 11/28/07
List Price: $799k
Last Sale: 11/28/06
Sales Price: $803,000
3933 GLENRIDGE DRIVE, Sherman Oaks, CA 91423
MLS #: F1744507
Square Feet: 2,117
Lot Size: 7,630 Sq. Ft.
Year Built: 1953
Listing Date: 11/26/07
List Price: $849K
Last Sale: 05/07/07
Sales Price: $1,275,000
14755 VALLEYHEART DRIVE, Sherman Oaks, CA 91403
MLS #: F1744945
Square Feet: 1,566
Lot Size: 7,530 Sq. Ft.
Year Built: 1952
Listing Date: 11/29/07
List Price: $749k
Last Sale: 01/30/06
Sales Price: $749,000 (okay, technically, not a short sale YET)
FOR YOU CONDO SHOPPERS:
4360 VENTURA CANYON AVENUE #2, Sherman Oaks, CA 91423
MLS #: F1741276
Full Baths: 2.5
Square Feet: 1,359
Lot Size: 940 Sq. Ft.
Year Built: 1999
Listing Date: 10/15/07
List Price: $560k
Last Sale: 01/24/07
Sales Price: $690,000
Square Feet: 1,598
Lot Size: 8,100 Sq. Ft.
Year Built: 1949
Listing Date: 11/11/07
List Price: $869k (SNARF!)
So, if you read my occasional posts on L.A. Land you may recall the last house on which E and I officially bid (pictured above); I posted about it here. We were pretty disappointed when we didn't get this house because we loved it. But the winning bidder offered way over list (which was a bit of a head scratcher for us because it was a slightly over priced fixer to begin with). We figured the current owners must have loved it way more than we did.
Or not. Because now it's back on the market. So either they got themselves into a heap of financial woe or they were competing for the title "Dumbest Flippers of All Time". I suspect it was the latter.
Anyhoo... I thought y'all would enjoy watching them go down in flames because, in my mind, they stand for everything that is wrong with the housing market today: (1) they bought a house that they either couldn't afford or had no plans to live in; (2) they did a cheap interior reno (no additional square footage) and expect to see a profitable return after a mere 5 months holding period; and (3) they got cash back at close and (temporarily at least) drove up the comps in the neighborhood.
This house won't sell for a dime over $720k (which is about $70k less than they paid). Mark my words.