Thursday, June 28, 2007

Relisting on California

On the subject of relisted properties, the 2 bed / 1 bath at 2317 California Ave., asking $1,399K, was previously on the market late May-early July 2006 for $1,395K, no sale recorded. Must have rented it instead: "Existing house is currently leased and will continue to provide income to the buyer while plans and permits for construction are prepared and permitted." It also has a second story over the rear detached garage.


war chest said...

Asking $5K more than a year ago...prices are going up! Westside, are you keeping a spreadsheet of every property or do you have another way of digging up past listing info?

Westside Bubble said...

I've been keeping a spreadsheet, one line for each property, since early 2006, noting major events like price reductions, entering escrow, back on market, and closed.

Original listing dates are from Zip Realty. Closed dates are from Zillow or the County Assessor. Other dates are approximate, not having agents' access to the MLS.

Although between your Lexis/Nexis and laps2's MLS, as a community we now have it all covered.

Lap2, thanks for your contributions here. I'm not here to disparage. Keith is entertaining on Housing Panic, but that is a different blog.

I've seen neither crash nor boom in the Westside market the last 2 years. The question is now, will the larger economy push us down in the coming months?

lap2 said...

Only the mighty knows. The affordability ratio here in SM is quite unbelievable and yet the buyers keep coming. I thought that come summer, we will have a substantial increase in inventory and tons of expired’s. Contrary, as of now, the inventory is pretty tight. As of today:

67 SF active, 34 pending
144 condos active (down from 158 just couple of weeks ago), 64 pending.

It all boils down to supply and demand.

Anonymous said...

There are currently 4 tax lien foreclosures on Colorado Ave 90404.

If I am a buyer on Colorado I think I would be concerned about these foreclosures and why they aren't being sold instead of foreclosed. Maybe only experienced real estate investors do this sort of thing.