tag:blogger.com,1999:blog-2983944778720243687.post2671314672666549795..comments2023-11-05T04:24:01.807-08:00Comments on Westside Bubble: Not selling in Sunset ParkWestside Bubblehttp://www.blogger.com/profile/03383559105050069002noreply@blogger.comBlogger27125tag:blogger.com,1999:blog-2983944778720243687.post-9320035988826347612008-05-23T12:22:00.000-07:002008-05-23T12:22:00.000-07:00wasn't '06. I guess you took "few" to mean "exact...wasn't '06. I guess you took "few" to mean "exactly two". Expand your parameters just a bit (maybe a few months) and get a life. You are really lacking something worthwhile to do if you are fact checking a reasonable home sale on a blog thread. Oh wait, my off market deal doesn't show on mls or title co websites, so maybe you can try the assessor. Have fun.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-47006316867961952332008-05-23T11:04:00.000-07:002008-05-23T11:04:00.000-07:00"Nope. Funny, it was a little old man."What's real..."Nope. Funny, it was a little old man."<BR/><BR/>What's really funny is that there isn't a single public record of something selling on that block in 2006 for anywhere near what you claim.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-17120509512253329652008-05-21T17:37:00.000-07:002008-05-21T17:37:00.000-07:00Nope. Funny, it was a little old man.Nope. Funny, it was a little old man.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-11959273126736393442008-05-20T16:25:00.000-07:002008-05-20T16:25:00.000-07:00"The guy on 1800 block of Ashland here - my purcha..."The guy on 1800 block of Ashland here - my purchase was definitely an inside job, but not from my family. If it hit the open market it would have sold for over $1mm."<BR/><BR/>Do you lose sleep at night thinking about the little old lady who you swindled?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-4865178135932736992008-05-20T08:46:00.000-07:002008-05-20T08:46:00.000-07:00Bears = smart/educatedBulls = dumb/"real estate al...Bears = smart/educated<BR/>Bulls = dumb/"real estate always goes up"Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-68105892251959584212008-05-19T15:13:00.000-07:002008-05-19T15:13:00.000-07:00you are. Even insightfuller.you are. <BR/><BR/>Even insightfuller.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-25036014673885636472008-05-19T15:06:00.000-07:002008-05-19T15:06:00.000-07:00Anon 5:13 - "I did see where SM SFR volume is down...Anon 5:13 - "I did see where SM SFR volume is down, but I believe its based on a reduced number of homes being sold..."<BR/><BR/>Very insightful. I think your are right.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-34206859618531741262008-05-19T09:46:00.000-07:002008-05-19T09:46:00.000-07:00The guy on 1800 block of Ashland here - my purchas...The guy on 1800 block of Ashland here - my purchase was definitely an inside job, but not from my family. If it hit the open market it would have sold for over $1mm. And, please don't call me a bull. I develop residential neighborhoods and think we have a half decade of housing depression coming down the pike. It was my work in acquisitions that allowed me to seek out a better deal on a house. As far as the 1800 block confusion goes, the first reply to my post didn't seem to understand where my house is. My mention of that block was indicate that I think my location is a little inferior to homes farther west. As far as the comments about my home being bought at the peak, I think I was about a year before the peak in Sunset Park. It was still increasing as recent as a year ago.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-51691891168224023162008-05-18T17:13:00.000-07:002008-05-18T17:13:00.000-07:00dwr...Is there evidence that SM SFR prices are fal...dwr...<BR/><BR/>Is there evidence that SM SFR prices are falling? Year over year? I haven't seen that chart....<BR/><BR/>I did see where SM SFR volume is down, but I believe its based on a reduced number of homes being sold...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-67305974621893000692008-05-17T17:14:00.000-07:002008-05-17T17:14:00.000-07:00I saved the numbers from lap2 on my other computer...I saved the numbers from lap2 on my other computer, I'll post them on Monday and I'll wait to see the self-proclaimed "bears" who think SM is different attempt to explain away those numbers.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-90953891687380497732008-05-17T13:02:00.000-07:002008-05-17T13:02:00.000-07:00I hope you're right, dwr . . . It's been a long w...I hope you're right, dwr . . . It's been a long wait, and it's alarming to see the nightmare prices ending in most of LA but SM acting as if it's still 2005.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-7935948287752465402008-05-17T07:53:00.000-07:002008-05-17T07:53:00.000-07:00Hello lap2 (if you're out there),Can you please re...Hello lap2 (if you're out there),<BR/>Can you please re-post the numbers of sales in SM this year compared to last year? There seem to be many people on this blog who don't understand how these down cycles work- first the sales volume dries up (where SM is currently wrt SFRs) and then prices start to drop. All these comments about "Santa Monica being spared all of the carnage" are ridiculous. All one has to look to is the sales volume. <BR/><BR/>To the "it's different here crowd",<BR/>I can't recall the exact numbers that lap2 posted a month or so ago but I believe for Q1 of '08 sales volume was off something like 50% in terms of both the number of sales and total sales revenue in Santa Monica when compared to Q1 of 2007. People who have been following the bubble for some time will recognize that's what happened around 2006 or 2007 in every other area that is now crashing price-wise.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-40764678492200198432008-05-17T05:44:00.000-07:002008-05-17T05:44:00.000-07:00i am a bear. all the fundamentals point to prices...i am a bear. all the fundamentals point to prices going down<BR/><BR/>the people living in sunset park can't afford to buy there<BR/><BR/>the average person in sunset park is living in a house that costs eleven times their job income<BR/><BR/>i am a bear<BR/><BR/>however, what i notice is that plenty of people with low paying jobs today seem to be able to buy today since parents buy for them<BR/><BR/>so i am a bear but must admit there are buyers at today's crazy pries <BR/><BR/>waiting for prices to fall may mean a long waitAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-50163531262365368392008-05-16T22:50:00.000-07:002008-05-16T22:50:00.000-07:00"Other than that, prices are not tumbling....as I ..."Other than that, prices are not tumbling....as I would have hoped they would. All i'm finding is bargain SFR that are located off Lincoln, next to an apt. bldg, in back of the Taco BEll drive thru...you get the drift."<BR/><BR/>Exactly: SFRs in Santa Monica have been spared all of the carnage, so far. The market also seems to have taken a breath this past month: wall street is calling a bottom, inventories are finally stabilizing, a bailout is on the way, etc. <BR/><BR/>The question for Santa Monica SFRs now is: does this breather signify that SM SFRs have been spared the worst of it, and will now just stay flat for 10 years as wages and rents catch up? Or was this all just the first chapter in the story, and chapter 2 will be about the high end collapsing?<BR/><BR/>ArtiAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-9843044215626727252008-05-16T20:42:00.001-07:002008-05-16T20:42:00.001-07:00I still don't get the 1800 block comment....why is...I still don't get the 1800 block comment....why is that a factor?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-50436694728498186722008-05-16T20:42:00.000-07:002008-05-16T20:42:00.000-07:00People seem to be getting back to sanity....when y...People seem to be getting back to sanity....when you didn't have to pay millions to buy a POS (as you say) in a dodgey location....so what I have seen as the 'correction' in Sunset Park is that well located, good condition SFR are moving way faster than homes in 'off' locations. Other than that, prices are not tumbling....as I would have hoped they would. All i'm finding is bargain SFR that are located off Lincoln, next to an apt. bldg, in back of the Taco BEll drive thru...you get the drift.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-89872125742207059622008-05-16T13:54:00.000-07:002008-05-16T13:54:00.000-07:00"I think Sunset Park is holding its value well. Th..."I think Sunset Park is holding its value well. The inventory of home for sale is still low, and well located, turn key homes are moving quickly."<BR/><BR/>How can you claim that an area is holding its value when only "well located, turn key homes" are selling, as opposed to two years ago when any POS would sell?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-47119545882458275312008-05-16T13:46:00.000-07:002008-05-16T13:46:00.000-07:00"There is now talk of a "bottom" being around the ..."There is now talk of a "bottom" being around the corner in the media (started by that Wall Street Journal article of two weeks ago)"<BR/><BR/>You mean the media that basically missed the entire housing bubble? Kind of like the talk of a "soft landing" 12 months ago? Yeah, take that to the bank.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-85293129574642911332008-05-16T12:24:00.000-07:002008-05-16T12:24:00.000-07:00Hey Mr. Genius home buyer,Why would you write "but...Hey Mr. Genius home buyer,<BR/>Why would you write "but in the 1800 address range" when the list includes places with 1600 and 1700 addresses? One whole block makes a difference or something?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-17080679287839104102008-05-16T12:17:00.000-07:002008-05-16T12:17:00.000-07:00anything for $750K- 2 years ago was:a) small squar...anything for $750K- 2 years ago was:<BR/><BR/>a) small square footage<BR/>b) bad floorplan<BR/>c)some bad design/defects<BR/>d) badly located<BR/>e) inside job , ie, bought from an ignorant little old lady/sketchy RE agent/family member<BR/><BR/>which one???Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-13180116771956327562008-05-16T12:12:00.000-07:002008-05-16T12:12:00.000-07:00what does the 1800 block have to do with it?what does the 1800 block have to do with it?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-89499153297649667502008-05-16T11:49:00.000-07:002008-05-16T11:49:00.000-07:00Hmmm, you bought "well under market" right at the ...Hmmm, you bought "well under market" right at the peak when things were flying off the market in two days? You either bought it from your mommy, or you're lying.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-46291232163787184102008-05-16T11:48:00.000-07:002008-05-16T11:48:00.000-07:00After a whole year of the bears ruling this board ...After a whole year of the bears ruling this board (and those like it) because of the pricing collapse in most of LA, it seems to me that the momentum is turning and the bulls are getting bolder. <BR/><BR/>There is now talk of a "bottom" being around the corner in the media (started by that Wall Street Journal article of two weeks ago), and the SFRs in Santa Monica have held up like the British against French cavalry at Waterloo--no price reductions. <BR/><BR/>I've always been a bear myself, but could it be that rather than suffering declines, the Westside SFRs will instead merely have a really long flat period for say 10 years as rents and incomes catch up? A depressing thought for anyone on the sidelines waiting to get in.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-75386309936016782952008-05-16T11:31:00.000-07:002008-05-16T11:31:00.000-07:00Easy now.....wow....bears vs. bulls need to take a...Easy now.....wow....bears vs. bulls need to take a time out.<BR/><BR/>I think Sunset Park is holding its value well. The inventory of home for sale is still low, and well located, turn key homes are moving quickly. Mr. 1800 Ashland - you had a good buy at $750K....<BR/><BR/>I don't see this market tanking at all.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-55661837151283536372008-05-16T11:20:00.000-07:002008-05-16T11:20:00.000-07:001800 block of Ashland is what I meant and when I p...1800 block of Ashland is what I meant and when I paid 750k the neighbors were paying over $1mm already. My sale was considered well under market. You obviously have no clue about the neighborhood's values and are just spewing crap. 1800 block of a north/south street wouldn't even be Sunset Park, it would be somewhere north of Pico. Fool.Anonymousnoreply@blogger.com