Wednesday, November 14, 2007

Not selling north of Montana

If north of Montana is special and everyone wants to live there, why are houses not selling? Not enough buyers, or are even those buyers price-sensitive?

Anyway, here's the fifth mid-month list of everything north of Montana over 30 days on the market (10/15 previous). Three joined the list and seven were removed, but a number of new listings within the last 30 days will likely join this list next month.

704 15th St., 2 bed/1 bath, $1,990K LP, 8/22/07 LD (red. 13%)
754 23rd St., 4/3.5, $2,395K, 9/27/07
710 23rd St., 4/3, $3,150K, 7/13/07 (red. 4%)
557 12th St., 6/5.5, $3,495K, 6/4/07 (red. 17%)
239 14th St., 5/5.5, $3,998K, 5/29/07 (red. 11%) new
333 14th St., 5/6, $4,595K, 6/29/07 (red. 6%)
533 23rd St., 5/6, $4,790K, 9/25/07 new
620 Alta Ave., 4/3.5, $5,395K, 10/11/07 new
1605 San Vicente Blvd. (photo), 6/7, $22,500K, 8/20/07

Removed listings:
611 14th St., 3/1.75, $2,049K, 9/7/07 (red. 7%)
242 25th St., 2/1.5, $2,399K, 7/7/07 (red. 4%)
256 24th St., 3/2, $2,995K, 9/12/07
202 14th St., 6/4, $3,288, 5/24/07 (red 15%)
721 Georgina Ave., 4/5, $3,450K, 8/21/07
421 23rd St., 6/6.5, $5,000K, 5/24/07
1020 Palisades Beach Rd., 6/6, $10,550K, 7/9/07


Anonymous said...

Just came across your site. Useful info but You seem to take a perverse pleasure in all this pain. I don't get it.

Anonymous said...

"All this pain"? People who own property north of Montana are hardly people in genuine financial pain. When I think financial pain, I think enduring the ravages of poverty, not that a Persian land developer just got hosed 15% on his flip project. That isn't pain, it's comedy.

Westside Bubble said...

Good one, Anon #2!

Anon #1, is the greater pain not being able to sell at inflated prices, or that prices got so inflated that buyers were priced out of the market unless they used toxic financing?

I find falling prices hopeful for future buyers. I suppose, too, there is an element of seeking poetic justice among bubble bloggers.