Thursday, December 11, 2008

Oh you crazy Tolucans!

Yeh, yeh. I've been away. I know, I know. But a lot has been goin' down for ole Kate and, also, the prices aren't moving much there just hasn't been a whole lot to post about. BUT ENOUGH OF ME AND MY STINKING EXCUSES, RIGHT?

Some Jack Ass in Toluca Lake wants $810/sq ft for his house. Seriously. SERIOUSLY.

10444 BLOOMFIELD STREET, Toluca Lake, CA 91602
MLS#: F1792521

Beds: 2
Baths: 2/0
Sq. Ft.: 1,018
Lot Size: 6,000 Sq. Ft.
MLS #: F1792521
$/Sq.Ft.: $810
List Date: 12/08/08

What do they think this is? 2007?

Monday, October 13, 2008

Where o where can the bottom be? O where o where can it be-e-e-e?

No doubt you'll be hearing people say: "Now's a great time to buy! Prices have rolled back five years!" And they have rolled back about five years, at least in the flat parts of Sherman Oaks. Behold an average Zestimate graph for the area:

But does that mean it's a great time to buy? Well, I don't think so. Because check out the graph of that same house for the last ten years:

Yeah. Uh-oh! We've got another price dump coming up. The credit crunch and the DOW are strangling out even the most obstinate buyers and so I am pretty confident that another round of meaningful reductions will come. I'm recommending not buying for another 6 months minimum (but I suspect we've got another 12 to 18 months to get serious about buying).

Thursday, October 09, 2008


Okay, okay. Are you like sitting down? Seriously. This is one of the reasons the Valley is so coolio. Here it is:

13630 ADDISON ST, Sherman Oaks, CA 91423
MLS #: 08_314527

Yeh, I know! It's like supercrazyfantastic right? Yeh, it's whackadoodle. But I still kind of want it. Because ... it could be super cool. And check out the stats:

Beds: 4 '
Baths: 3/0
Sq. Ft.: 3,388
Lot Size: 13,500 Sq. Ft. (Yeh! Not a typo!)
Built: 1977 (You know Rachel Zoe totally wants it now too!)
List Date: 09/18/08
List Price: $799k
$/Sq.Ft.: $236

And look at the fireplace:

And the bizarro 'Children of the Corn' wall mural!

They didn't even bother to paint over that. They were like: "What? That is totally some sweet mural! Keep it up!"


Remember this house on Blix? They listed it at $925k on March 28, 2007 then reduced down around $800k. Well it sold! Ayup. It sold last August. Guess how much? Go ahead. Guess. I'll wait.

Waiting ...
Waiting ...

Okay, I can't take it anymore. I'll just tell you! You, lazy reader, You. I bet you didn't even click on my link above. I can tell, you know. I can! I have that kind of tracking going on here. Anyhoodle. It sold for $635k. And the owner paid $725k in '04. Uh-huh, they did! And I suspect they did all those fancy upgrades. Oopsie! Some people shouldn't invest in real estate. Right?


*yawn* No, Virginia, your condo is NOT worth $800k.

4179 SUNNYSLOPE AVENUE #102, Sherman Oaks, CA 91423
MLS #: F1785991

Beds: 3
Baths: 3/0
Sq. Ft.: 2,073
List Price: $799k (Baaaaaa! hahahahah!)
List Date: 10/08/08
$/Sq.Ft.: $385
Last Sale: 06/14/05
Sales Price: $745,000 (Yup! They want more than they paid in '05! HAHAHAHA!)
Zestimate™ $675,000


13131 MARGATE STREET, Sherman Oaks, CA 91401
MLS #: F1786032

Beds: 3
Baths: 3/0
Sq. Ft.: 1,819
Lot Size: 7,200 Sq. Ft.
List Date: 10/08/08
List Price: $839k (Hi Delusional! You are talking North of Magnolia here!)
$/Sq.Ft.: $461
Last Sale: 11/13/03
Sales Price: $580,000
Zestimate™ $675,000

Thursday, October 02, 2008

Getting a bit more realistic on Benedict Canyon

So a couple of days ago I wrote about this house and today it's reduced even further.

4224 BENEDICT CANYON DRIVE, Sherman Oaks, CA 91423
MLS #: F1776216

Beds: 3
Baths: 2
Sq. Ft.: 1,246
Lot Size: 5,449 Sq. Ft.
List Date: 07/22/08
Last Sale: 05/20/99
Sales Price: $319,000 (so it doesn't look like a short sale, but perhaps they pulled out "equity")

Price Reduced: 08/12/08 -- $749,000 to $685,000
Price Reduced: 09/05/08 -- $685,000 to $649,000
Price Reduced: 10/01/08 -- $649,000 to $599,000 ($480/sq.ft.)

"Big reduction!! Must go!!!, now seller is in default on the mortgage!!! & vacant go direct south of the boulevard, great open floor plane,fireplace in l.R. Hard wood floors, tile kithen and bathrooms, french doors, was remodeled about 7 years ago included roof and a/c, alarm system with camera,washer dryer and refrig. Are included, dixie canyon school district, walking distance to ventura blvd. But yet very quiet, back yard with spa, yard need some work."

I still think it's a bit high for this market. But they may accept $550k. Personally, I wouldn't pay that much for this house but it never ceases to surprise me that somebody else will.

Tuesday, September 30, 2008

Amestoy's competition...

5359 OAK PARK AVENUE, Encino, CA 91316
MLS #: F1782718

Beds: 6
Baths: 8
Sq. Ft.: 7,500
Lot Size: 17,250 Sq. Ft.
$/Sq.Ft.: $573
List Date: 09/11/08
List Price: $4,299,000

At $573/sq.ft., I'd say this listing will give the Amestoy listing (below) a good run for it's money. Who says the high end hasn't felt the pinch yet?

Why not chop a cool million off the list price?

Back in May, I posted about this pretty little number in Encino. At the time, it was listed at $7.9M. Well, hold on to your horses:

5266 AMESTOY AVENUE, Encino, CA 91316
MLS #: F1754357

Price Reduced: 04/17/08 -- $7,974,000 to $7,495,000
Beds: 7
Baths: 10
Sq. Ft.: 9,000
Lot Size: 37,100 Sq. Ft.
$/Sq.Ft.: $766
List Date: 02/14/08
Price Reduced: 07/03/08 -- $7,495,000 to $6,895,000

Uh huh. That's a $1.079M reduction over 5 months. But at $766/sq.ft., it's still mighty pricey. Donchya think?

Seriously. No shortage of good listings under $700k

3605 WILLOWCREST AVE, Studio City, CA 91604
MLS # 08_276885

Beds: 3
Baths: 3
Sq. Ft.: 1,934
Lot Size: 8,997 Sq. Ft.
$/Sq.Ft.: $361
List Date: 04/30/08

But beware: this home has "geologic" issues.

Another one that would've blown my mind back in '07

4731 BURNET AVE, Sherman Oaks, CA 91403
MLS # 08_310299

Beds: 3
Baths: 3
Sq. Ft.: 2,033
Lot Size: 7,650 Sq. Ft.
$/Sq.Ft.: $344
List Date: 08/25/08
List Price: $700k
Last Sale: 12/29/06
Sales Price: $725k

At $344/sq.ft. this home is moderately priced. It's a lovely little neighborhood and if the market were more stable I'd be all over this. It's a nice big lot. Sure the house needs some updating but it's got good square footage. You never would've seen this type of listing in '07. Note that they've only held the property for less than two years and it's a short sale. I am seeing foreclosure all over this one. Look for it to be listed under $700k soon.

And so it begins...

I am suspecting that a lot of the overpriced listings I tracked last year are going to pop back up as foreclosed homes. Listings like this one that I blogged about last year (it was originally listed at $815k! HA! Click link for details).

3909 LONGVIEW VALLEY ROAD, Sherman Oaks, CA 91423
MLS # B2103672

Beds: 3
Baths: 1
Sq. Ft.: 1,256
Lot Size: 6,307 Sq. Ft.
$/Sq.Ft.: $490
List Date: 07/22/08
Sale History:
05/30/2008: $625,523
10/25/2005: $740,000
05/21/1986: $182,000

Price Reduced: 08/26/08 -- $669,900 to $646,905
Price Reduced: 09/25/08 -- $646,905 to $615,559

I'm thinking this would sell at $550k. You?

Under $700k SOB

4224 BENEDICT CANYON DR, Sherman Oaks, CA 91423
MLS #: 08_298951

Beds: 3
Baths: 2
Sq. Ft.: 1,246
Lot Size: 5,450 Sq. Ft.
$/Sq.Ft.: $521
List Date: 07/22/08
Last Sale: 05/20/99
Sales Price: $319,000

Price Reduced: 08/17/08 -- $749,000 to $685,000
Price Reduced: 09/06/08 -- $685,000 to $649,000

I wouldn't say this is a bargain. But when I was actively house hunting, this would've totally blown my mind. I don't think $521/sq.ft. is appropriate today -- at $450/sq.ft. this home would be closer to $560k. But look out because $350/sq.ft. is just around the corner. If this seller were smart they'd drop the price before it's too late.

Monday, September 22, 2008

Oh. I have a blog?

Sorry, Peeps. A lot has gone down here at May 5. Mr. Kate and I are going through some changes. Erm... that kind of sounds like he's having a sex change surgery, huh? Well, he's not. Sorry to disappoint. And I took a long trip to Italy that two words describe: "endurance contest."

And the market has just been limping along. I'm going to try to get back to posting real soon. That is, if y'all will forgive my absence.

Thursday, August 14, 2008

It's the end of the world as we know it (and I feel fine).

I should preface this by saying: there could be a typo here. That's how stunning this listing is.

13260 MAGNOLIA BOULEVARD, Sherman Oaks, CA 91423
(MLS #: F1779010)

Beds: 4
Baths: 5/0
Sq. Ft.: 4,218
Lot Size: 9,956
List Price: $625,000
$/Sq.Ft.: $148
List Date: 08/13/08

Last Sale: 12/07/05
Sales Price: $1,050,000

The baths have that model homey thing going on. But you know, people like that. And there's FIVE of them. So...

Kitchen clearly redone. So...

Yeah. I'm not sure what the hell is going on here. I gotta think typo. I mean $148 a sq. ft.? Last sale $1.05M? And the description doesn't even mention in passing that it's "priced to sell." I mean, at this price, you'd think they'd mention it. Here's the description:

Beautifully done gated spacious home on approx. 10,000 sq ft lot in gorgeous magnolia estates! Stunning kitchen w/ top stainless steel applicances, center island, high ceilings and breakfast area! Large formal living, formal dining rm, and family room! Gorgeous gleaming dark wood floors, 3 fireplaces, french doors, built-ins! Gorgeous master suite with sauna!Lovely yard with delightful bbq area! Stylishly done in like new condition throughout! Tenant occupied, temporarily cannot be shown

Tuesday, August 05, 2008

Zip Code Controversy!

At least one reader thinks that house on Margate (see comment in post below) really is in Sherman Oaks. The commenter says that Sherman Oaks cuts off at Burbank. Which would mean that 91401 is half in Sherman Oaks and half in Van Nuys. Which is silly, really. As far as I'm concerned there are two Sherman Oaks zip codes: 91423 and 91403. Check out their cutoffs below.

Nevertheless, apparently the post office will recognize a few homes in 91401 as Sherman Oaks (using their address look up tool). Any of you Valley politicos reading this who care to share the city council history on this naming convention -- please feel free to do so in the comments. Or if you just want to wax poetic about your thoughts on Valley neighborhoods: hey, it's a free country. Knock yourself out!

Error or Realtor trick?

It could be the case that there's a little trick that goes like this:

(1) If the house is in Van Nuys, list it in Sherman Oaks. Sherman Oaks is fancier and more people will look at a listing that would be ridiculously expensive for Van Nuys but is actually kind of cheap in Sherman Oaks.

(2) Put down the wrong zip code. That way no Zillow information will be available. ALSO! If you put in a super fancy zip code (like maybe Sunset Plaza) the sales comps will be way higher per square foot. BONUS!

Or it could be the case that the Realtor just made some typographical administrative errors. I report. You decide. Here's the listing:

13465 MARGATE, Sherman Oaks, CA 90069 ($649k)
Beds: 3
Sq. Ft.: 1,304
Lot Size: 7,810 Sq. Ft.
MLS #: F1777810

Real address: 13465 Margate, Van Nuys, 91401.
Last sale: 06/21/2006: $700,000

UPDATE: The listing has the right zip code now (but still says Sherman Oaks). And it has a new MLS # :08_301921. Just a coincidence?

Monday, August 04, 2008

Damn, I am good!

So, y'all might remember a little house I wrote about back in June. Here's the relevant part of the prior post (for those of you too damn lazy to click the link that I conveniently provided for you):

4343 AGNES AVENUE, Studio City, CA 91604

MLS #: F1761579
Beds: 2
Baths: 2
Sq.Ft. 1,499
Lot: 6700
List Date: 04/04/08
List Price: $799k
Per sq. ft.: $533

Seriously. For that? Not even at the peak of the market, Honey. So they reduced. Twice. Behold:

Price Reduced: 05/29/08 -- $799,900 to $699,000
Price Reduced: 06/12/08 -- $699,000 to $649,000

And now it's just a tiny bit shy of what it would have sold for at market peak ($675k). But we are down like 20% off peak, right? So that house is worth ... uh ... $540k? That seems right. There's no central air, original windows and doors. No photo of the kitchen or bath (and we all know what that means). Oh yeah... did I mention the apartment buildings on three sides? Yeah.
Well guess what? They reduced again. Uh-huh.

Price Reduced: 06/24/08 -- $649,000 to $619,000
Price Reduced: 08/01/08 -- $619,000 to $589,000

But I gotta say, I think they'll have to come down to about $500k at this point. The peak is pretty much behind us and this house is just not a hot property. Time will tell.

Tuesday, July 15, 2008

Recent Sales

UPDATE: Thanks to an anonymous commenter, we have down-payment details and sales vs. list price percentages on the recent sales below. Check out the comments, Peeps!

Here's a sample of June sales in 91423. Looks like we are averaging in the low $500's per sq. ft. south of the boulevard and hovering right around $400 per sq. ft. if you are north of the boulevard (but still south of, say, Magnolia).


3bed/2bath 1,804 sq.ft.
Sold 06/18/08 for $950k ($527/sq.ft.)

3bed/2bath 1,357 sq.ft.
Sold 06/13/08 $905k ($667/sq.ft.)

2 bed/1 bath 1,015sq.ft.
Sold 06/12/08 $523k ($515/sq/ft)

3bed/2bath 1,816 sq. ft.
Sold 06/06/08 $925k ($509/sq.ft.)

2bed/2bath 1,338sq.ft.
Sold 06/05/08 $749k ($560 /sq.ft.)

3bed/2bath 1,412 sq. ft.
Sold 06/06/08 0.7 $620k ($439 /sq.ft.)

4 bed/3 bath 2,264 sq. ft.
Sold 06/05/08 $805k ($356 sq. ft.)

Friday, July 11, 2008

It's summer. I'm travelling a lot. And the market is dull.

So, in a nutshell, that's why I've been a bit scarce lately. I'm sorry y'all! But the weather is amazing and you should get up away from your computer and visit the beach or something. Sellers are still in deep denial and I figure the real stories are coming in the fall anyway. So I've been filling up a bit of the hours that I normally while away on the MLS at this fabulous little blog: THE BRICK HOUSE (It's mighty mighty!) It's all about "fixing up a 1950's mid century cement brick house. Trying to make it awesome and do it on a tight budget."

Here's a sample DIY project (before is on the left and after is on the right):

Not too shabby for a thrift store find.

Monday, June 30, 2008

MLS Garbage

12754 SARAH ST, Studio City, CA 91604
MLS #: 08_291413

[server error -- photo available eventually]

Beds: 2
Baths: 2
Sq. Ft.: 1,001
Lot Size: 4,373 Sq. Ft.
List Date: 06/24/08
List Price: $719k
Last Sale: 01/20/05
Sales Price: $575,000

"This is not a short sale!! Fantastic price for this drop dead gorgeous beeman park area home!!Fabulous curb appeal greets visitors to this charming french country home exequisitely remodeled and decorated throughout*picturesque tree lined street*absolutely pristine home located in much sought after beeman park*gleaming wood floors,tumbled italian tile floors,custom windown treatments,crown molding,designer fixtures,decorator paint*beautifully remodeled kitchen and baths"

Really? At $718/ sq. ft. this isn't a short sale? Whatever. Grossly overpriced is what this is.

5503 HALBRENT AVENUE, Sherman Oaks, CA 91411
MLS #: F1773073

[server error -- photo available eventually]

Beds: 3
Baths: 2
Sq. Ft.: 1,440
Lot Size: 5,500 Sq. Ft.
List Date: 06/26/08
List Price: $6999k
Last Sale: 01/05/06
Sales Price: $670,000

"3 bedroom 2 bathroom house in prime sherman oaks. Remodeled. Priced for fast sale."

Priced for fast sale, eh? In what universe? You want $29k over what you paid at nearly the peak of market? I just spit Diet Coke out my nose. Good luck with that.

4237 BAKMAN AVENUE, Studio City, CA 91602
MLS #: F1772106

[server error -- photo available eventually]

Beds: 2
Baths: 2
Sq. Ft.: 1,376
Lot Size: 5,850 Sq. Ft.
List Date: 06/21/08
List Price: $839.9k
Last Sale: 10/06/06
Sales Price: $790,000

On this one, not only do the want you to pay market peak prices, they want you to buy all their furniture too (Uh, yeah. I love used furniture!). Ridiculous.

4621 ALLOTT AVE, Sherman Oaks, CA 91423
MLS #: 08_285759

[server error -- photo available eventually]

Sq. Ft.: 1,846
Lot Size: 7,280
Listing Date: 06/01/08
Price Reduced: 06/28/08 -- $789k to $779k
Last Sale: 09/27/00
Sales Price: $332k
Zestimate: $707,500
Based on List Price: $422
Based on Zestimate™: $383
Based on Cyberhomes estimate: $326

Friday, June 13, 2008

Reports of my death were grossly exaggerated. And now this:

4343 AGNES AVENUE, Studio City, CA 91604
MLS #: F1761579
Beds: 2
Baths: 2
Sq.Ft. 1,499
Lot: 6700
List Date: 04/04/08
List Price: $799k
Per sq. ft.: $533

Seriously. For that? Not even at the peak of the market, Honey. So they reduced. Twice. Behold:

Price Reduced: 05/29/08 -- $799,900 to $699,000
Price Reduced: 06/12/08 -- $699,000 to $649,000

And now it's just a tiny bit shy of what it would have sold for at market peak ($675k). But we are down like 20% off peak, right? So that house is worth ... uh ... $540k? That seems right. There's no central air, original windows and doors. No photo of the kitchen or bath (and we all know what that means). Oh yeah... did I mention the apartment buildings on three sides? Yeah.

Here's the satellite view (thanks Google maps! You're the best!). The little yellow dude is standing in front of the house.

Let's go down to street level and see the house head on (so you can get a good view of the alley and huge neighboring complex):

And what's across the street? Hmmm?

Oh good! More alley. More apartments. Highly desirable.

Friday, May 30, 2008

The Undaunted

My friend sent me this article today from the venerable NYT. It's basically two letters. One is from a prospective buyer saying: "get real." The other is from the "undaunted" seller saying: "I'll take my chances." Well, I suppose if you have the luxury of taking your chances in this market you aren't a real seller anyway and indeed your home will not sell. So, rather than write that response, why not just take your house off the market? Stop wasting everybody's time.

If you're shopping in Sherman Oaks and really feel the need to send correspondence to a seller, why not just email them a link to Tim Hebb's post today on Redfin? It's faster. It's more compelling.

I'm still waiting it out folks. This isn't the bottom. It's not even close. If anybody is undaunted here, it's me.

Wednesday, May 28, 2008

Mr. Big bought my house!

Remember when I told y'all I found the perfect house?

Well, Chris Noth bought it. You can read all the juicy details at the supercrazyfantastic Real Estalker.

Add him to the list of our actor neighbors. And this is important. REALLY important. Do not go over there. Do not even drive by. That is called stalking and that is against the law. Okay, that's all. Carry on.

Thursday, May 22, 2008

What is "corporate owned" exactly?

11437 DECENTE DRIVE, Studio City, CA 91604
MLS #: F1768009

(photo not yet available)

Beds: 3
Baths: 3
Sq. Ft.: 2,329
Lot Size: 5,180 Sq. Ft.
Built: 1964
List Date: 05/20/08
List Price: $749,900
$/Sq.Ft.: $322

Last Sale: 08/24/06
Sales Price: $1,400,000

Zestimate™ $1,171,500

" Corporate owned special!!! South of the blvd, nice tuscany villa in studio city hills*located on a quiet street* home feautures wood & tile floors throughout* 3 fireplaces* balcony with views* huge outdoor wood deck* large dining area* lots of character but this home needs tlc* priced to sell fast* "

So, according to Property Shark (god bless that site!), this home was purchased by Neda Baghbanmanesh for $485k in 2002. Then it looks like in 2005 Neda borrowed another $120k from Blueview Corporation in La Jolla. Then somebody sued Neda and filed notice of a possible lien. Then Neda sold it to Lillian Sedaghat-Pour for $1.12M in April 2006(that's a tidy profit). And good ole Lilian was able to sell it to Lorena Bendinskas for $1.4M in August 2006 (not too shabby for only holding the property for 4 months). Then an NOD was filed and then it looks like a Notice of Trustees Sale in August 2007. But there are no further transactions recorded. I guess it's possible that the reconveyance took place and that's the "coporation" that owns this property.

Anyhoodle, call me jaded but I suspect that Old Neda, Lillian and Lorena were not total strangers and something is rotten in Denmark.

But anyway this home is priced at $322/sq.ft. and that seems about right these days.

I have to sign off now and get on over to see Harrison Ford's new flick. Ciao.

Tuesday, May 20, 2008

The Valley is wild! Seriously.

Sure people have horses in the Valley. But they aren't wild. And I'm not talking about coyotes. So what is it? What could be so wild in the Valley? Monkeys! Yup. In the Valley. And wild parrots too. Mmm-hmmm. No kidding.

Yeah, some guy put a whole bunch of monkeys in the Valley. Read all about this long gone Valley spectacular here.

EEEP! No wonder it's gone.

And, if you want to know why sometimes you see parrots in your palm tree, it's because when Busch Gardens closed they basically just let the birds go -- but some people say the birds "escaped". Read about it here.

(The old boat ride at the long gone Van Nuys Busch Gardens).

Gather 'round, Darlings. It's time for a stoning.

Honestly, I am beside myself. When this listing hit my radar this morning I just shook my head. I mulled over what to do. And finally, after careful consideration, I determined that nothing less than a public (cyber) stoning will do. Ready?

14702 HESBY ST, Sherman Oaks, CA 91403
(MLS #: 08_281791)

Beds: 2
Bath: 1.5
Sq. Ft.: 1,268
Lost: 6,751


"A jewel in the valley."

A jewel? Really? I'm not seeing it. I'm seeing a small tract house with ugly faux stone facade.

"Wonderfully redone home, kitchen w/ granite counter tops, s/s appliances and slate floor, mster bathroom w/ mosaic tiled floor and shower. The back yard feels like a park with it's fully landscaped yard. A great condo alternative."


Yeah. That's right. Eight hundred and fifty thousand dollars for this. Cyberhomes estimates it at $556,813. Which is a generous $439/sq. ft.

But now, I have to do something I generally don't take on: edumacate the listing agent. Rachel Maslan, of Hilton & Hyland, please pay close attention to the map below. It shows all the other homes for sale in your client's neighborhood.

Not a clear enough picture for you? Let me pan out a bit.

This is what we call a buyer's market in every sense of the word. And you've priced this Van Nuys adjacent, two bedroom, tract home at nearly $700 a square foot. OMFG. Good luck with that. It wouldn't have sold for that at the peak of the market.

Here are some comps:

One word: Rookie.

Thursday, May 15, 2008

2538 Sundown Drive - $799k

I can't believe this house is really available at $799k. But, whatever, here's a link to the flier and here's the stats:

MLS Number 07-236455
Living Area: 1,812 Sq. Ft.
Lot Size: 10,869 Sq. Ft.

Thanks to Phaser21, you can see all the coolio photos here.

Whatever Happened To ...

Today we follow up on a few old listings to see what happened. This post is made possible by the excellent people at Property Shark. Thanks Property Shark!

10748 Aqua Vista Street
(Prior Posts)

Price Reduced: 07/02/07 -- $780k to $769k
Price Reduced: 07/17/07 -- $769k to $764k
Price Reduced: 07/18/07 -- $764k to $759k
Price Reduced: 07/23/07 -- $759k to $754k
Price Reduced: 07/27/07 -- $754kto $749k
Price Reduced: 08/25/07 -- $749k to $699k
Price Reduced: 10/02/07 -- $699k to $679k
Price Reduced: 11/28/07 -- $679k to $649k

Sold: 4/25/08 -- $451,000 ($442/sq.ft.)
Bank Of America Na 4161 Piedmont Pkwy Greensboro, Nc 27410

4702 Halbrent Ave.
(Prior Posts)

Price Reduced: 10/05/07 -- $959k to $899k
Price Reduced: 10/30/07 -- $899k to $875k
Price Reduced: 11/26/07 -- $875k to $849k
Price Reduced: 01/03/08 -- $849k to $799k
Price Reduced: 02/16/08 -- $799k to $775k

Sold: 4/28/2008 -- $728k ($370/sq.ft.)
Buyers:Daniel & Teresa

4421 Noble Ave
(Prior Posts)

Price Reduced: 07/10/07 -- $849k to $824k
Price Reduced: 07/17/07 -- $824k to $799k
Price Reduced: 07/28/07 -- $799k to $769k
Price Reduced: 09/06/07 -- $749k to $699k

Sold 4/24/2008 -- $697k ($514/sq.ft.)
Charlene & Jaqueline

13480 Contour Drive
(Prior Posts)

Listed 3/20/08 -- $1.54M

Went inactive without a sale.

Monday, May 12, 2008

30-Day Change that'll make you choke.

The dark blue line is for the 10 bedroom, 12 bathroom, 21,523 sq.ft. house palace at 750 Bel Air Road. The light blue line is for zip code 90077. Umm. Yeah. They lost nearly $2.5M last month. But whatever. I mean, you could've bought this place for that much back in 2003. And you gotta love that the Zestimate has a $10M spread. That just cracks me up. Because, you know, I work for a living.
Check out the photos. I'm pretty sure that structure on the right side of the gate is the gaurd's house. You have a live-in guard, right? And he needs a 2,000 sq. ft. house, right?

Check out the purple bedroom. It certainly is .... purple. Why do super rich people decorate like this? Do they all have the same decorator who can't think of any new ideas? Also, I think all those dressers are silver leafed. I don't get the "bed on a stage" look myself. But you know. I guess somebody does.

More stats for you Stats Hounds! (From Zillow!)

Hi Kate,

Zillow just published Q1 home value reports. I thought May 5th readers may be interested in this information. According to our analysis, home values in the US experienced another historic drop, falling 7.7% over the past year (ending March 31st). One of two homeowners who purchased during the national market peak in 2006 are currently "underwater" on their mortgage.

A few links to this data …

1. Detailed quarterly reports for 160 MSA’s.


3. Overview of Q1 home value trends.

David Gibbons

P.S. In case you’re interested in how Zillow’s Zindex compares to the CSI.

Property Shark's latest foreclosure graph

(click to enlarge)

I love me some MLS photos!

This house is a wee bit overpriced so look for reductions soon. But I've featured it not because of the price. I've featured it because of the MLS photos. They're awesome! You'll see.

5512 BEVIS AVENUE, Sherman Oaks, CA 91411
(MLS #: F1766426)

*Yawn* Tract house. Well maintained. Garage in front. *Yawn*

What the? Mr. Kitty? What are you doing to that ottoman? Bad kitty!

Well, I better put ANOTHER photo up that shows the ottoman is unharmed. So people know.

Kitty! Get off the table! Off! It'll squick people out to see your butt right where they eat. We're trying to sell a house here kitty! You are not helping.

Seriously kitty. Just jump down. I'm going to take this photo one more time.

Just keep your little kitty head down. Keep it down ... keep it down. Just one more photo.

Kitty! What did we just talk about? About keeping your head down? Dammit kitty!

Bedrooms: 2
Baths: 2
Square Feet: 1,300
Lot Size: 7,425 Sq. Ft.
Year Built: 1951
Listing Date: 05/06/08
List Price: $649k

Price per Square Foot
Based on List Price: $499
Based on Zestimate™: $448 ($582k)
Sold Homes: $335 ($435k)