Saturday, May 9, 2009

Mar Vista sales Jan-Apr

Mar Vista is where a lot of our local sales activity is. By Westside standards it is affordable coastal, much within reach of conforming loans, while higher-priced areas have very little happening. The predominant sales price range this year in Mar Vista has been $5-800K.

Most of the quick sales of well-priced listings we listed last Sunday were there. Conversely, high-end sales on Mar Vista Hill are nearly dead, and it took a 37% reduction from $3,995K to $2,500K to sell the architectural at 4056 Marcasel (photo below).

Besides tracking its inventory I've highlighted it occasionally; these were in the last year:

Mar Vista indicator 9/08
Mar Vista west of Centinela outcomes 9/08
Ancient on Michael x 2 6/08
Corinth Corinth Corinth 6/08
Not selling on Mar Vista Hill 5/08
It made sense to divide Mar Vista into east and west of Centinela, north of Palms, from Palms to Venice, and south of Venice. I've also highlighted reductions over 10% in red.

Address, bed/bath, current price (-% from orig.), orig.list date, sale date, sale price (-% from last list price)

Venice-Culver, Walgrove/Redwood-Centinela

4058 Lyceum (photo above), 3/1, $525K, 2/17/09, 4/2/09, $510K (-3%)
12494 Rubens, 5/3, $530K (-15%), 12/16/08, 3/26/09, $530K
4310 Alla, 3/1, $539K (-17%), 10/8/08, 2/5/09, $475K (-12%)
4240 Moore, 2/1, $550K (-11%), 9/19/08, 2/20/09, $555K (+1%)
12546 Mitchell, 2/1, $550K (-21%), 8/15/08, 1/22/09, $478K (-13%)
12521 Rubens, 4/3, $699K (-12%), 3/28/08, 3/3/09, $645K (-8%)
4210 Chase, 2/1.75, $699K (-4%), 10/26/08, 1/20/09, $650K (-7%)
2421 Walgrove, 3/2, $699K (-13%), 8/13/08, 2/2/09, $660K (-6%)
4220 Sunnyside, 2/1, $719K, 11/6/08, 1/5/09, $717K (-0%)
4053 Beethoven, 3/1.75, $739K, 2/4/09, 3/24/09, $775K (+5%)
12937 Panama, 3/1.75, $745K, 1/7/09, 3/31/09, $728K (-2%)
4234 Kenyon, 3/2, $749K (-14%), 11/19/08, 2/12/09, $713K (-5%)
4018 Coolidge, 3/2, $789K, 12/13/08, 3/18/09, $777K (-2%)
3827 Lyceum, 3/2, $859K, 1/9/09, 3/10/09, $855K (-0%)

Venice-Culver, Centinela-405

11535 Culver, 3/2, $470K (-18%), 4/24/08, 2/25/09, $465K (-1%)
3923 Berryman, 3/1, $485K, 10/15/08, 1/22/09, $525K (+8%)
11814 N Park, 3/1, $695K (-4%), 9/30/08, 2/20/09, $675K (-3%)
4056 Marcasel (photo below), 3/3, $2,995K (-25%), 10/2/08, 3/2/09, $2,500K (-17%)

Palms-Venice, Walgrove-Centinela

2125 Walgrove, 2/1, $570K (-5%), 11/9/08, 2/9/09, $555K (-3%)
3748 Ashwood, 3/2, $675K (-10%), 9/12/08, 1/8/09, $665K (-1%)
3779 Colonial, 2/1, $685K (-2%), 10/29/08, 1/14/09, $670K (-2%)
3613 Greenwood, 3/2, $839K, 1/30/09, 3/25/09, $832K (-1%)

Palms-Venice, Centinela-405

11250 Tabor, 4/2, $550K (-29%), 2/1/08, 3/13/09, $475K (-14%)
11625 Charnock, 2/2, $629K (-3%), 12/4/08, 3/17/09, $607K (-3%)
3540 McLaughlin, 3/1.75, $679K (+3%), 12/1/08, 2/4/09, $671K (-1%)
3556 Purdue, 3/2, $739K, 9/19/08, 2/3/09, $739K
3475 McLaughlin, 3/2, $749K, 1/23/09, 3/13/09, $749K
3666 Barry, 4/2, $775K, 8/22/08, 2/25/09, $650K (-16%)
3543 Butler, 3/2.75, $779K (-22%), 11/26/07, 1/28/09, $740K (-5%)
3769 Grand View, 4/2, $950K, 7/29/08, 3/11/09, $870K (-8%)
11942 Lawler, 3/2, $1,050K, 2/18/09, 4/11/09, $1,008K (-4%)

S.M Airport-Palms, Walgrove-Centinela

12677 Dewey, 3/1.5, $695K (-11%), 7/28/08, 4/2/09, $700K (+1%)
12511 Stanwood, 2/2, $839K, 12/5/08, 1/26/09, $825K (-2%)
12507 Stanwood, 3/1.75, $889K, 1/30/09, 3/23/09, $860K (-3%)
12737 Dewey, 5/4, $899K (-18%), 8/15/08, 3/26/09, $880K (-2%)

National-Palms, Centinela-405

3331 Purdue, 3/1.75, $879K (-4%), 12/4/08, 3/13/09, $781K (-11%)
3260 Coolidge, 3/1.75, $899K (-5%), 10/15/08, 3/25/09, $900K (+0%)
3425 Mountain View, 5/4.5, $1,975 (-14%), 8/15/08, 2/2/09, $1,700K (-14%)


Anonymous said...

Special case ? 4056 Marcasel Ave -3000 sqft

New Modern Architecture + OK site --> profit

Souce Redfin
Feb 27, 2009 Sold $2,500,000 25.9%/yr appreciation from Dec 04, 2003 Sold $750,000 13.2%/yr Oct 26, 2000 Sold $510,000

Property Tax Taxable Value
Land $811,824 Additions $692,478
Total $1,504,302

Anonymous said...

Right - massive profits

Anonymous said...

lots of people paying 1.7 for scrapers in the 90402

are these people going to live in the scrapers or are they going to tear them down?

Anonymous said...

Dirt in the 90402 is today selling for 220 a square foot

Dirt in Mar Vista is today selling for 100 a square foot. What is the better bargain? Depends on who you are and who you want your neighbors to be

Both seem to me to be spectacular bargains compared to MB West of Manhattan - there you can't find any dirt for less then 900 a square foot.

my point is that you can get nine times as much land for the same $$ in mar vista - much bigger back yard

Anonymous said...

And you won't be beachfront and you will be in LAUSD, and, as is the case with my friend's house the other day, someone might spraypaint SM13 on the side of your house. That won't happen in MB or 90402.

Anonymous said...

Mar Vista is one of most progressive areas, if not the MOST progressive area, in Los Angeles.


Anonymous said...

What does progressive mean exactly -

progressive means that you feel sympathy for the gangbangers that are spray painting your house, so instead of wanting them arrested you want them celebrated?

Anonymous said...

What exactly makes Mar Vista so progressive? I'm asking without the snark.

Anonymous said...

Mar Vista is very progressive...progressively worse as you move South and East

Anonymous said...

uhh -

count the number of feral violent youth wandering the streets of mar vista. Compare that to PP.

Make your own decision where you feel safe

Anonymous said...

Mar Vista is progressive because if you look at the younger families moving into the neighborhood, they are becoming very involved in the community and schools. The charter schools like Walgrove is becoming a very good school. MANY of the homes are being remodeled with excellent taste and with high-end materials.

The comparison of PP to Mar Vista is not a good comparision simply because of the home prices. However, look at Pali High, is that a great school? I think not..

I am a native Angeleno and know most of this city, and state for that matter, from SM, Malibu, Sherman Oaks , Encino , Calabasas and even Pasadena / Glendale (somewhat). Mar Vista although it does have it's small limited crime problem, I see a great change and am very confident Mar Vista will continue to PROGRESS in terms of socio economic status.

To those 7:37 PM and 5:27, you seem to have insecurity problems. Don't tread on me little boys. You're problably a transplant from the mid west or east coast anyways. Definately don't sound native to me.


Anonymous said...

anyone who thinks that mar vista has a crime problem really needs to move out of the city. that's just silly

i think silver lake, echo park, west hollywood are all more progressive than mar vista

the school involvement and remodeling of homes are a reflection of the higher incomes of families moving to mar vista rather than a statement of their politics

Anonymous said...

I see a great change and am very confident Mar Vista will continue to PROGRESS in terms of socio economic status.

Sad post from someone trying to make a silk purse (good neighborhood) from a sows ear (Mar Vista).

Reminds me of friends who moved to Venice a few years ago, talked up how 'progressive' it is, spent big bucks on a remodel, and are now stuck in a crappy devalued neighborhood with helicopters, gunshots, backpack robberies, and oh yeah, nice granite counter tops.

'Progressive' is a code-word for I can't afford the neighborhood I really want, but let me tell you how great my 'hood will be in x years. More hat than cattle, and very delusional.

Anonymous said...

"Sad post from someone trying to make a silk purse (good neighborhood) from a sows ear (Mar Vista)."

I had no idea rich folks actually said this shit out loud. Maybe I should watch more TV.

Do you also talk with your friends about how lucky you are to not have to live near poor people, black people, etc?

Anonymous said...

I don't know what to say. A person enjoys where he lives and wants to make sure his neighborhood is a good place to live and he gets attacked....

Typical for this day and age. Look at the current President we have. No wonder there are so many BO bumper stickers. Full hatred culture..

I will continue to strive and you will continue to attack because of your "short comings"..


Anonymous said...

oh yeah, progressive does not mean liberal for political reasons. I refered to it as just the opposite.

Silverlake and Hollywood is just a bunch of transplants, for the most part, trying to be the Californian. Cali was much better when it wasnt so liberal.

Anonymous said...

Do you also talk with your friends about how lucky you are to not have to live near poor people, black people, etc?

Color not important, but poor people with attitudes and values to match...Yup!

Anonymous said...

why do liberals always bring up skin color?

This whole liberal thing is very passe.. already

Anonymous said...

The liberals are the ones that import all the homeless people in to Santa Monica

"afflict the comfortable" is their motto

Anonymous said...

Why do rich conservatives continue to believe that skin color doesn't matter? Your daddy was able to get ahead only because he created ghettos to hold back competition. Then he moved to a nice neighborhood and sent you to nice schools. Or perhaps you were old enough to have benefited directly from the racist society you created. Tell me, what exactly did you or your daddy do to end apartheid in America. Or perhaps you consider your immigrant background a free pass? How many of your Irish parents were still riding in the back of the bus with my parents in the 1960s? The issue of color or class didn't just end because laws were changed. It's impact is much longer lasting than that, despite your precious "examples" of Obama and Powell. Or perhaps you are willing to put your money where your mouth is. Give your house away, quit your job, and move to South LA and see how much hard work and determination gets you and your children in that neighborhood.

Anonymous said...

Ha ! Anon says "Give your house away, quit your job, and move to South LA and see how much hard work and determination gets you and your children in that neighborhood."

We can all see that this person is dealing with a full deck. Ya right!

We can see why this person would think skin color holds you down and NOT education.

Get a grip and an education. Work hard and pull up the boot straps son!

Anonymous said...

"We can see why this person would think skin color holds you down and NOT education."

That's the point, isn't it. You've created a self-perpetuating system that makes it impossible to get ahead or get educated-as you call it-in certain environments.

So you have two choices really-blindly believe that America is a place where hard work and a determined attitude are all you need to get ahead despite overwhelming evidence that people never change social classes, or recognize that some people are fighting an up hill battle against their social environment, school sytem, local economy.

By the way, this is true for anyone regardless of color, it's just that for so long color was used as a means of sorting people into good and bad environments.

Are one and only accomplishment on this matter is that we no longer tolerate the most obvious forms of discrimination. But that hardly means that skin color doesn't matter.

Anonymous said...

Well then.. You can blame all your problems on being your certain skin color.

At least you have an excuse.. Right?

Good luck, since that all you will use.

Anonymous said...

Nope,if I were poor, of color, and living in a ghetto, I'd blame you and your daddy for doing nothing about the oppression that put me there.

And if I were white and middle class, I'd just blame affirmative action and illegal immigration for all my problems, right?

Anonymous said...

I don't know what you would do kid.

I just know what you posted.

Sounds like you make a lot of excuses based on skin color and what your daddy did or did not do.

Good luck. It's a free country. Either get yours or you don't.

You're funny for playing the blame game... Keep it up! You'll always have an excuse for not getting "it".