tag:blogger.com,1999:blog-2983944778720243687.post4117473783763796510..comments2023-11-05T04:24:01.807-08:00Comments on Westside Bubble: Monthly inventory chartsWestside Bubblehttp://www.blogger.com/profile/03383559105050069002noreply@blogger.comBlogger44125tag:blogger.com,1999:blog-2983944778720243687.post-78783971895889442462009-03-08T05:27:00.000-07:002009-03-08T05:27:00.000-07:00It is all about the school district. If you live i...It is all about the school district. <BR/><BR/>If you live in Venice or near Main Street in SM the average kid in the school district is different than the average kid in Franklin.<BR/><BR/>It depends who you want your kids going to school withAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-34996065934538281212009-03-06T23:43:00.000-08:002009-03-06T23:43:00.000-08:00I strongly prefer the shops and galleries and over...I strongly prefer the shops and galleries and overall vibe of Main Street and Abbott Kinney, to those of Montana. But homes are less alluring there - lots are tiny, schools aren't great, streets are laid out funny and parking is impossible.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-21999740376089736602009-03-06T13:39:00.000-08:002009-03-06T13:39:00.000-08:00Some quotes from Warren Buffett over the years:If ...Some quotes from Warren Buffett over the years:<BR/><BR/>If past history was all there was to the game, the richest people would be librarians.<BR/><BR/>We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.<BR/><BR/>There seems to be some perverse human characteristic that likes to make easy things difficult.<BR/><BR/>The investor of today does not profit from yesterday's growth.<BR/><BR/>Price is what you pay. Value is what you get. <BR/><BR/>Risk comes from not knowing what you're doing.<BR/><BR/>Let blockheads read what blockheads wrote.<BR/><BR/>It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-74680962042561435792009-03-06T13:27:00.000-08:002009-03-06T13:27:00.000-08:00of course the locals shop there, don't be ridiculo...of course the locals shop there, don't be ridiculous. All kinds of people shop there, of course, but as a local (with an expensive wife and daughter), I can definitely assure you that locals shop there all the time. Interestingly, locals also buy cars in Calabasas, Encino, and Sherman Oaks. I bought mine in Ontario and it still has the dealership license plate frame on it, so don't be confused by what you see.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-4001744301723848292009-03-06T13:13:00.000-08:002009-03-06T13:13:00.000-08:00You think out-of-town looky loos were the ones buy...You think out-of-town looky loos were the ones buying $200 jeans?<BR/><BR/>I am on Montana all the time during the day, and see the shoppers. The first set is tourists in rental cars with maps, not sure what they buy, but they park and walk up and down the street. The second set is groups of women, all decked out, in luxury cars with plates from Calabassas Mercedes, Encino, Sherman Oaks, etc. dealers and clearly dressed like the shops they are going to - and they buy bags and bags of stuff. The last category is the women with drivers, not as often, but they also buy a lot. Trust me, the locals don't buy from the boutiques; the locals are getting their shoes fixed, coffee, a bite to eat, etc.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-50513147091997044802009-03-06T12:30:00.000-08:002009-03-06T12:30:00.000-08:00"fall in lock stepbut the 90402 will maintain its ..."fall in lock step<BR/>but the 90402 will maintain its premium since it is much safer and cleaner than the cheap parts of sm"<BR/><BR/>I have to know- where is your apartment, and how small is it?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-852857111442413772009-03-06T12:28:00.000-08:002009-03-06T12:28:00.000-08:00"I was so mad when I saw they were building one. I..."I was so mad when I saw they were building one. It's a blight, and has absolutely no place on Montana. I actually drive to the one in BH just to boycott the Montana one, we don't want it here."<BR/><BR/>Could there ever be a more classic example of a NIMBY mentality than this? How about you boycott the whole store? No, you can't do without their $40 oven mits. Disgusting, why do I even think about living in the 90402!?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-50972740572010555342009-03-06T12:25:00.000-08:002009-03-06T12:25:00.000-08:00"I welcome the changes on Montana - we need more r..."I welcome the changes on Montana - we need more restaurants and cafes and fewer stores - more places to hang out and relax and fewer places to buy stuff"<BR/><BR/>You sound like one of the 10,000 renters who live just south of Montana.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-69687049774844060552009-03-06T11:48:00.000-08:002009-03-06T11:48:00.000-08:00I welcome the changes on Montana - we need more re...I welcome the changes on Montana - we need more restaurants and cafes and fewer stores - more places to hang out and relax and fewer places to buy stuff<BR/><BR/>let's give Montana more of a neighborhood feelAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-73443981159581578092009-03-06T11:33:00.000-08:002009-03-06T11:33:00.000-08:00I get well cut, modern Levis for about $50-60, and...I get well cut, modern Levis for about $50-60, and $100 if I decide to splurge on their Capital E line. If you spend $240-300 on jeans you are quite the fool. However, you need to charge that for jeans on Montana in order to afford the exorbitant retail rents.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-29566176737025037182009-03-06T10:36:00.000-08:002009-03-06T10:36:00.000-08:00"The closed stores and lower rents are a good sign..."The closed stores and lower rents are a good sign - we can get the mom-and-pops and funky stores once again."<BR/><BR/>God I hope that Williams Sonoma store closes down. I was so mad when I saw they were building one. It's a blight, and has absolutely no place on Montana. I actually drive to the one in BH just to boycott the Montana one, we don't want it here.<BR/><BR/>"You think out-of-town looky loos were the ones buying $200 jeans?"<BR/><BR/>Actually, that jeans store that's closing down was selling $300 jeans (they had a few around $240). They're liquidating at 50% off, so you can actually get jeans for $150 now.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-7814526907922404372009-03-06T08:48:00.000-08:002009-03-06T08:48:00.000-08:00it will fall in lock step that is for sure - it wi...it will fall in lock step that is for sure - it will always maintain its premium over the rest of santa monica<BR/><BR/>if the typical house in the 90402 is 3 million today and the typical nice house in a cheap part of santa monica is today 1.5 million, <BR/>the 90402 house will get cut in half to 1.5 and the house in cheap santa monica will be 750 k <BR/><BR/>fall in lock step<BR/>but the 90402 will maintain its premium since it is much safer and cleaner than the cheap parts of smAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-55092886472752619702009-03-06T07:44:00.000-08:002009-03-06T07:44:00.000-08:00I've lived in Santa Monica for about 20 years and ...I've lived in Santa Monica for about 20 years and since then the shops on Montana have always had something equivalent to $200 jeans and overpriced trinkets and other nonsense. The neighborhood has always commanded a serious premium over the rest of Santa Monica. Regardless of what the retail market is doing, 90402 will still be what it is today. That said, it will probably fall lock-step in price with the rest of Santa Monica.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-69769878952805320732009-03-06T07:08:00.000-08:002009-03-06T07:08:00.000-08:00You think out-of-town looky loos were the ones buy...You think out-of-town looky loos were the ones buying $200 jeans? I think not.<BR/><BR/>This is more evidence that the 90402 is nowhere near as bulletproof as many people still believe.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-35654789635221382812009-03-05T22:38:00.000-08:002009-03-05T22:38:00.000-08:00wonder what they will fill all that empty space wi...wonder what they will fill all that empty space with<BR/><BR/>Before the now-closed chi-chi stores, Montana was full of mom-and-pop businesses that actually catered to locals, not out of town looky-loos. The closed stores and lower rents are a good sign - we can get the mom-and-pops and funky stores once again. This will actually improve the neighborhood, and attract more local foot traffic and shopping. Thank you recession, and good riddance designer boutiques.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-759991220601535772009-03-05T06:03:00.000-08:002009-03-05T06:03:00.000-08:00Anon 8:22....my Appraiser pal is a lifelong reside...Anon 8:22....my Appraiser pal is a lifelong resident. and very smart and cautious with his money. he will be more than fine.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-39942501997425898582009-03-05T05:40:00.000-08:002009-03-05T05:40:00.000-08:00No this is a very important postThe shops on Monta...No this is a very important post<BR/><BR/>The shops on Montana avenue - the environment on Montana avenue is certainly part of the reason for the high values a around montana <BR/><BR/>not most of the reason but part of the reason<BR/><BR/>i mean if they put in pawn shops and thrift stores on montana it will impact the price of houses<BR/><BR/>wonder what they will fill all that empty space withAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-51883292130029685332009-03-04T17:58:00.000-08:002009-03-04T17:58:00.000-08:00That great....but this isn't a 'commercial market ...That great....but this isn't a 'commercial market rent outlook' blogAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-88546205622474312042009-03-04T17:53:00.000-08:002009-03-04T17:53:00.000-08:00Santa Monica's Montana Avenue just keeps losing te...Santa Monica's Montana Avenue just keeps losing tenants. Between June 2008 and now, over 30 businesses have said goodbye to the street (including the eight recent closings we mapped a few weeks ago.) All the vacancy signs are having a terrible effect on morale, notes the Santa Monica Daily Press in an article that itself can't be so great for morale. "It just makes you not want to shop at all," one visitor said, thereby articulating up every local vendor's worst fears. The silver lining, such as it is: Rents are most definitely coming down.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-8650616240790491482009-03-04T17:25:00.000-08:002009-03-04T17:25:00.000-08:00anon 4:50.I think you're right that these buyers s...anon 4:50.<BR/><BR/>I think you're right that these buyers should qualify under these conditions--especially if they are willing to throw 300K into the house.<BR/><BR/>So to all. Are the banks right that these houses are just going to lose value and it's not worth making the loan, or are they too tight these days?<BR/><BR/>Others, I think it is pretty unreasonable to think that families are going to disrupt their lives for an opportunity to short their houses. If they plan on living there for 30 years and can make the payment they're not even reading this blog. If you are going to sell in the next 5-10 or want to move up, however, I agree. Sell now.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-8210326512638899862009-03-04T16:50:00.000-08:002009-03-04T16:50:00.000-08:00Anon 2:17Houses were a tad over a mil. Buyers make...Anon 2:17<BR/><BR/>Houses were a tad over a mil. Buyers make about 250K. Great credit. Have to have 30% down now(banks are that wary) <BR/><BR/>Single family homes (sidebar: in my opinion a WAY better investment than buying air space in a condo) didn't appraise or banks were not taking the appraisal due to 'current market conditions' <BR/><BR/>Now if these folks can't buy a million dollar house with that income (I think they got a 5.5% interest rate)....then the market conditions have gotten so bad that there will be NO closed sales in Calif. Scary.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-35127167303559480902009-03-04T14:21:00.000-08:002009-03-04T14:21:00.000-08:002:00 pm - you sold your house in 2003 and then the...2:00 pm - you sold your house in 2003 and then the market shot up insanely. I understand it's hard for you to get back in since that was your move. No one had any idea that we would rocket up for so long and so much, but by selling in '03 you definitely hurt yourself. Now, for someone to sell now they could still get a decent appreciation (provided they bought before '05 or so) and lock in some gains, wait a year or so, and buy back in. That's a much easier timing proposition because there's a whole lot of certainty about which way prices are heading. When the market is irrationally heading up, on the other hand, it's harder to time things. Then again, if you want to stay in your house and can pay for it, I understand that proposition as well.Woosterhttps://www.blogger.com/profile/01373096624094744181noreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-30770142593588458282009-03-04T14:17:00.001-08:002009-03-04T14:17:00.001-08:00"I know two extremely well qualified buyers who fe..."I know two extremely well qualified buyers who fell out of escrow due to the homes not appraising or reluctance to lend."<BR/><BR/>What were the home prices?<BR/>How much do these buyers make?<BR/>How big were their down payments?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-29066982450355220082009-03-04T14:17:00.000-08:002009-03-04T14:17:00.000-08:00"I know two extremely well qualified buyers who fe..."I know two extremely well qualified buyers who fell out of escrow due to the homes not appraising or reluctance to lend."<BR/><BR/>What were the home prices?<BR/>How much do these buyers make?<BR/>How big were their down payments?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-51166009636475517592009-03-04T14:15:00.000-08:002009-03-04T14:15:00.000-08:00"It's sad how few people actually do this even whe..."It's sad how few people actually do this even when they know it's the financially right thing."<BR/><BR/>Some people treat their home as just that, a home, not an investment. Being a renter sucks a$$- you know it and so does every other renter on this board.Anonymousnoreply@blogger.com