Monday, October 13, 2008

2003 prices in Bel Air

Originally listed 1/17/08 for $1,599K, this 3 bed/2 bath house at 785 Linda Flora Dr. in Bel Air is now asking $1,079K as a short sale.

It last sold 1/22/04 for $1,179K (per Zillow), so we are looking at 2003 prices here!

SHORT SALE. ALL OFFERS SUBJECT TO LENDER APPROVAL. Wndrful Architectural in Lower Bel Air. Liv Rm w/Woodburning Fireplace & Cathedral Ceilings, Walls of glass looking out to Glorious Canyon & Getty Views & Tons of Sky. Gourmet Kit w/Stainless Applnces, Soapstone Counters & Brkfast Bar. Luxurious Mster Suite. Master Bath w/Spa Tub, Dbl Sinks & Many Windows for Great Lite. Gleaming Wood Flrs....

Notice how they tout the "Canyon & Getty Views" but overlook the 405 freeway in that canyon, not that far below this house's location northeast up the hill from Moraga and the freeway.

And although the stock market bounced back today, did the fundamentals of consumers overextended in debt and the economy in recession change?

10 comments:

latesummer2009 said...

That is an impressive Westside Meltdown. I wonder which bank holds that note? Whoever it is, they know what's a comin.

Can you say Alt-A ???

http://www.westsideremeltdown.blogspot.com

Anonymous said...

ou are lazy westside....more posts

Anonymous said...

This is my last attempt at reading the blog.

Daily updates = daily visits.

Weekly updates = goodbye.

Anonymous said...

He's probably bored of writing this blog and I can understand that. The data doesn't seem to suggest much of anything new or worthy to discuss and the constant management of a blog would require better action in the market in order to get my ass off the porn and onto something constructive. Maybe start writing about Santa Monica political issues that might move the market a little. Like the airport's potential closure in about 5 years. Prop T. or talk about the 17th st gang. Anything fresh?

Anonymous said...

Westside, here is another one that can make your head spin - 900 Chantilly Rd.

Listed 4/2005 @ $1,325,000
Sold 4/2005 @ $1,710,000 (multiple offer overbid)
Listed 4/5/08 @ $7,350,000 (New Construction)
Reduced 5/29/08 to $6,995,000
Reduced 7/25/08 to $6,495,000
Reduced 8/1/08 to $5,950,000
Expired 9/20/08
New listing with dif. agents on 9/22/08 @ $5,495,000
10/17/08 Reduced to $4,995,000

Agents descriptions sais - Seller must sell." Just screeming desperation. I wouldn't be surprised to see this one on the auction block.

Anonymous said...

Where the hell is chantilly road?

Anonymous said...

The Titanic has already hit the iceberg. The only question is how many people are going to survive.

The RE ship will take significantly longer to go down compared to the Titanic.

RE bubble blogs are rather useless at this point in time.

Anonymous said...

Well as a further suggestion we could open up the topic of the growing homeless problem and the city's inaction in Santa Monica, since that's been banned over at SM Distress.

Westside Bubble said...

I appreciate the comments, pro and con. See my latest post for what seems of substance to me right now.

... growing homeless problem ...

Nooooooooooooooooooooo!

Anonymous said...

with the deep recession california is heading in to the number of homeless will go up by 5x or 6x from here

buckle up