Sunday, March 30, 2008

33% haircut in Panorama City

Remember how the Case-Shiller index's biggest drop is in lower-priced Los Angeles houses, 21.9% so far from the November 2006 peak?

How about a 33% haircut in two years in the Panorama City neighborhood of our October 29 "Beautiful white iron gate" (no longer on the market but no sale recorded)?

This 2 bed / 1 bath 1950 tract house, last sold 04/24/06 for $448K, is now asking $300K. Not much description: "Two bedrooms,one bath...Nice home for first time home buyer".

No indication if it is REO or a short sale, but neither its 2006 sale price nor its current asking price are unusual for this neighborhood. Listed 3/4/08, there's no action yet.

8 comments:

Anonymous said...

I'm heading out to Panorama City this afternoon. Will definitely pick up some BBQ from Dr. Hogly Wogly's on Van Nuys (just south of Roscoe on the east side of the street for everyone who likes bbq and has yet to find something as good). Back to the point, Panorama City is definitely not the westside and despite the new hospital, it is a horrible existence. I would rather live in Sylmar or West Hills. Wait, I would rather end myself.

Anonymous said...

Since when is Panorama City on the Westside?

Anonymous said...

Dr. Hogly Wogly's is the best ! Hope you enjoy your BBQ. Yeah Panorama City is pretty bad though I would have to say Pacoima is much worse than all the above.

speedingpullet said...

mmm...Hoggly Wogglys

Best thing about living in the Valley.

Anonymous said...

Did you know that under current laws, the owner of Hogly's can't sell or bequeath the property as an operating smokehouse bbq. There is some environmental law that governs this. The place has been around forever and the owner is getting on in age. It looks like in a few years the place dies despite a huge and loyal following and its iconic status. I think the best one can do is to break down the pit and move it to another state. Well, that's what I was told by the waitress. It could be totally wrong and I should be admonished for getting real estate and legal advice from the server at a bbq house.

Regardless, there are few good smokehouses anywhere in LA. If this happens, I'm going to be stuck eating Baby Blues or Cecils.

Anonymous said...

"Regardless, there are few good smokehouses anywhere in LA. If this happens, I'm going to be stuck eating Baby Blues or Cecils."

Cecils as in the one on Pico in WLA? I thought you were talking about good smokehouses?

Anonymous said...

No, I was using it as an example for bad bbq. It's (Cecil's) not even a smokehouse. No smoke from what I can tell. The only other decent one I have had in LA is in Norwalk, but I can't remember the name. Pitts something?

Andrew said...

I'm sad to learn of Hogly Wogly's troubles! I live nearby and will miss it when it's gone.

As for good BBQ, Phillip's is also great:

2619 Crenshaw Blvd (at Adam's)
Los Angeles, CA 90016
(323) 731-4772

And closer to the westside.

Cheers!