Friday, March 20, 2009

Weekly inventory update

3/20/09 - Santa Monica was flat, Palisades down a little, and Mar Vista up from new listings.

Low-end Sunset Park featured the 2/1 at 1128 Marine St. dropped to $699K and the 2/1 at 2250 27th St. to $895K. The 3/2 at 1736 Oak St. (last listed at $990K) and the 4/3 at 2450 Euclid St. ($1,099K) both fell out of escrow.

And low-end north-of-Montana found the 3/2 at 320 9th St. dropped another $100K to $1,699K. Redo the kitchen and bathrooms and it would be a nice house to live in.

3/13/09 - Santa Monica is up. Palisades and Mar Vista are down, largely from withdrawn listings.

3/6/09 - The net of some new escrows, and some new but also more withdrawn listings is Santa Monica, Pacific Palisades, and Mar Vista are relatively flat for the week.

A third low-end north-of-Montana member joined the $1.8M club: 720 17th Street.

      LA County  Santa Monica Pacific Palisades  Mar Vista
<$3M New Tot DOM<$2M New Tot DOM Tot New DOM

-------- ------ -------------- -------------- ----------
1/30/06 27,732
2/28/06 29,420
3/31/06 31,819
5/ 1/06 34,032 38 33
6/ 2/06 37,847 56 36 38
6/30/06 42,317 66 40 49
8/ 4/06 45,315 70 34 50
9/ 1/06 46,781 71 27 59
10/ 6/06 47,369 83 25 98 71
11/ 3/06 45,780 80 20 91 77
12/ 1/06 43,103 65 18 72 96 39 20
1/ 5/07 35,646 54 4 60 117 33 6 71 66
-------- ------ -------------- -------------- ----------
2/ 2/07 36,715 38 15 45 124 29 16 61 71 70
3/ 2/07 41,251 42 14 51 114 26 10 68 79 55 25 76
4/ 6/07 42,857 41 23 49 107 18 8 73 103 54 52 50
5/ 4/07 45,918 46 28 54 92 19 6 82 79 71 37 52
6/ 1/07 52,198 50 25 61 78 17 15 87 78 77 39 53
6/30/07 52,769 42 18 56 81 17 11 92 77 74 33 61
8/ 3/07 54,166 53 28 68 86 23 12 78 76 84 39 68
8/31/07 57,432 57 21 72 98 18 7 69 75 90 40 79
9/28/07 58,973 59 17 74 103 26 9 90 81 87 20 87
11/ 2/07 58,731 62 19 81 120 29 7 106 77 98 35 88
11/30/07 59,108 52 14 67 136 23 11 88 94 96 23 96
12/31/07 53,475 42 5 53 148 19 2 73 119 79 13 116
-------- ------ -------------- -------------- ----------
2/ 1/08 53,722 54 16 67 157 26 16 101 118 89 36 96
2/29/08 53,520 50 10 68 178 29 8 108 108 88 21 103
3/28/08 53,566 57 17 81 171 32 14 122 92 82 22 105
5/ 2/08 54,098 59 14 83 159 35 7 136 93 90 33 96
5/30/08 53,216 56 23 79 147 34 9 142 106 91 29 89
6/27/08 53,058 74 28 98 131 30 6 129 107 96 26 95
8/ 2/08 51,906 66 14 89 125 34 8 120 136 99 35 101
8/29/08 50,124 62 9 79 122 29 5 108 156 91 25 104
10/ 3/08 48,113 58 14 82 145 41 15 128 132 84 24 109
10/31/08 47,017 64 22 90 131 55 18 159 126 83 21 103
11/28/08 45,216 64 12 91 141 54 7 151 124 73 9 130
12/31/08 40,810 52 3 80 171 47 5 130 134 63 10 144
-------- ------ -------------- -------------- ----------
1/30/09 38,486 67 16 94 181 59 15 157 145 66 15 157
2/27/09 37,647 73 14 98 164 73 17 181 148 75 19 131
3/ 6/09 75 10 97 149 73 4 187 144 74 2 140
3/13/09 78 14 102 145 68 5 186 143 71 8 140
3/20/09 79 16 102 149 66 7 184 148 76 17 122
3/27/09

12 comments:

dwr said...

"The 3/2 at 1736 Oak St. (last listed at $990K) and the 4/3 at 2450 Euclid St. ($1,099K) both fell out of escrow."

As I said the other day, going into escrow means nothing in this market.

Anonymous said...

My husband and I have three kids under the age of 6

private school for the three kids will cost us $75k per year - we can't afford that

Unfortunately, we also can't afford a house in the Franklin School district -

Does anyone know the admission policies for Franklin - is there some way I can live in a less expensive school district and still send my kids to Franklin ?

If I get some sort of job at Franklin will that entitle my kids to get in ?

Anonymous said...

Your kids don't need to go to Franklin in order to grow-up well educated and prepared for college.

I won't even mention what Westside schools that I attended back in the old days and yet I ended up doing okay as did many of my classmates.

With the economy collapsing there are far more important things to worry about than getting your kids into your perceived "good" school.

Anonymous said...

Maybe she wants them to learn a trade in the middle school- pot dealer perhaps?

Anonymous said...

How kids turn out is about 90% dependent on who the parents are. Too many parents (including many who post on this blog) think all they have to do is send their kids off to the "right" school- ie the one with the best test scores.

Anonymous said...

How about answering the young lady's question instead of being cynical

Anonymous said...

Her question reminds me of a line in an article I just read: "Affluent towns are not communities; they're clubs. If you cannot pay the dues, you have to resign."

Trying to be part of the life in the 90402 will eat you up and you will never be a better person for it.

Just call me Maria said...

Don't let the really negative anons get you down. We just moved to the Palisades for the same reasons. While I do not doubt that the parents at Monte Vista Elementary (in Highland Park) are not caring human beings and that the school is populated by caring teachers, a new music program, afterschool athletics and some amazing language programs, I'd like to avoid schools that experience weapons lockdowns and "pancake" drills.

Each of the Santa Monica schools offers a good education and you can join the lottery to ensure your 1st child a spot if you live out of the Franklin area and inside of Santa Monica. If you live in any other city and want to send your child to Santa Monica, then you are going to have to work a lot harder for that permit. The limited non-SMMUSD students attending Santa Monica Schools are on municipal employment permits- meaning that one or both parents are working for the City or the school district.

Anonymous said...

Also, if you live in SM, and the kids attend another elementary school, you can apply for an interdistrict permit for Franklin or another school. However, the popular schools are harder to get in and you have to have a legit. reason for the transfer, i.e. work in the school, work across the street from the school, etc.

Currently, the only two SM elem. schools that take out-of-district permits (based on a lottery) are SMASH, an alternative school (think PS 1 and Wildwood curriculum) and Edison, a Spanish language immersion in the Pico neighborhood.


The other schools are NOT currently taking any out of district permits, largely due to the goal of taking down the population at SAMO high....which is the only H.S. all the SM schools feed into.....its large student population (3K +) has been a problem for years.

Anonymous said...

"Don't let the really negative anons get you down."

Maybe a call to the board, or to the school itself, would be the place to go, rather than to a blog about a bursting housing bubble, no?

Westside Bubble said...

Roosevelt is arguably equal or better than Franklin, despite (or because of) drawing in part from the apartment neighborhood between Wilshire and Montana. They both feed Lincoln Middle School.

Anonymous said...

There are plenty of apartments between 15th and 20th and between Montana and Wilshire - every kid in those apartments gets to attend Franklin

With the depression, rents in that area have fallen dramatically it is not that hard to rent one of those apartments - and automatically get in to Franklin. The cost of private school for 3 kids is 75k - you can rent two apartments in that neighborhood for 75k per year