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I'm flying to Chicago for the weekend, so no updates until sometime next week. Enjoy the beautiful weather.

Many apologies for the tardiness of this blog! No, my birthday celebration did not take on gargantuan proportions - as a matter of fact, I worked through most of it. I'll have another birthday next year - and my sister will come to that one, too, I hope! There are currently 161 homes listed as active in the Skaneateles area. There were 9 new listings this past week, of which 5 were re-lists, 2 new waterfront properties, and 2 new town/village. Two properties were marked contingent - and 3 were pending, of which 2 went directly to pending, didn't pass "K..." but will collect a bundle of money if the offer is anywhere near the list prices! And we don't know, and won't know until the properties are closed. If anything should happen - and as I've written, it does all too frequently, especially these days - the agents don't want the price negotiated to be common knowledge. We had a village closing, too. That's 2 this month - an improvement on t...

Finally, the day has come. According to another great post from Dr. Housing Bubble , Long Beach has finally claimed its #1 spot: That's right, kids. 90813 in LB has claimed the top spot in year-over-year price declines ( -65% since 6/2007). In your face, Pasadena! Congratulations on your profound accomplishment, Long Beach. Go ahead and take a victory lap...you earned it.

The best way to describe this listing is as a defeated, exhausted shrug . Address: 1130 E 1st St #301, 90802 Asking Price: $299,000 Year Built: 1959 (!) Size: 2 beds, 2 baths, 977 sq. ft. $/Sq. Ft.: $306 HOA Fine: $287 Purchase price: $415,000 Purchase date: 1/2007 MLS#: P648286 On Redfin: 5 days Down Payment: $60,000 Monthly Payment: $2,100 Income Requirement: $75,000 Description: Unit was remodled two years ago. All new flooring, kitchen appliances,paint and lots of nice up grades. Front Corner, top floor. Great view of the city, the Queen Mary is visable from in front of unit. Two, assigned underground parking spaces, come with this unit. Short sale. Three words into the listing and there's a typo. "Remodled"? They actually meant to say "reMOLDed," because this place sure as hell isn't "remodeled." Please, I beg of you, other than the wood floors show me one picture containing "visable" evidence this 50s relic was remodeled ever , let ...

In my Inbox this morning, Redfin informed me that six Long Beach property listings have been updated. In a rapidly deteriorating market, this usually means one of two things: 1. Jackass realtors changing the status from "Active" to "Contingent" to make it look like people are actually interested in their overpriced properties, or 2. Price reductions So imagine my surprise when I saw six price INCREASES staring at me. WTF? It's worth noting that all properties are tiny, in the same no-man's-land 'hood, and listed by the same agent: 2530 E 10th St, 90804 The list price was "$284,000" and changed to "$324,000" The status was "Active" and changed to "Contingent" 2540 E 10th St, 90804 The list price was "$284,000" and changed to "$324,000" 2542 E 10th St, 90804 The list price was "$289,000" and changed to "$329,000" 2544 E 10th St, 90804 The list price was "$299,000" and...

Reader James pointed out a property featured on the Long Beach Housing Blog has recently undergone a massive price reduction. To bring you up to speed, please check out my post from April: http://longbeachhousingblog.blogspot.com/2008/04/flippin-aint-easy.html I mean, are those pictures amazing or what? It's like they couldn't get out of there fast enough! Reality appears to be sinking in for this failed flip, because the asking price has been slashed once again--bringing the total price reduction since listing in February to $162,000. Don't get too excited. The original asking price was an astounding $562,599. That's like congratulating someone for losing weight, when all they did was take off their shoes. Sadly, this recent $100,000 haircut is still not enough to move this half-completed wonder. As James said, "150-200K more and it would be worth considering." The funny thing about James' timing is that I too noticed the recent price cut and was just tal...

Tomorrow is my birthday. I am looking forward to spending a good deal of it with my sister, Bev, and her husband, John. This will be my first birthday with her. As an only child, I always had friends and neighbors with whom to share my birthday. Since it was in the summer, the kids at camp came to my party and I always asked for Mrs. Funck's lasagna as a special treat for dinner. In later years Alex and his friends would be there and later still Bob came into the picture. He proposed on my birthday at the lake, as a matter of fact. But my family wasn't that close and really consisted only of cousins. Once we got the camp when I was 10 they became less prominent in my life. But now I have a sister. I was adopted and found my birthmother in 1992. She told me that my father had two daughters but didn't know what had become of them. At her funeral the next year I learned that one had died of cancer and the other was in Florida somewhere. The gentleman who told me offered to act...

It's 6:15 on Friday night. I'm back in the office today after a busy morning and afternoon, preparing an itinerary for tomorrow's showings. I am also fielding phone calls for showings of my own listings. The line to Doug's extends in front of our window. I estimate a 45 minute wait, but they are all smiling and thrilled to be in Skaneateles in the sunshine. The band will play in a while, they will have good food to eat, and they will leave satisfied with their evening in the Village. Blogging has taken a toll the last few days. I have been running full out, getting home around 9:00 and starting the phone calls and e-mails at 8:30 the next day. I didn't go to any broker's opens this week - there were only two, and I'd seen them both, if I recall. So sorry - no "House of the Week" for the second week! I received a comment you'll see - and please, feel free to comment on my blog! You can do so anonymously! - that requested definition of th...

Well, as I'm sure you know by now, the Deadbeat Homedebtor/Greedfaced Lender Bailout legislation is all but a done deal. I'm almost too depressed to comment about it. All I will say is that while I see the value in rescuing Frannie and Freddie, considering how the government has allowed them to become essentially the linchpin of the lending arena and how their dissolution would most assuredly cause market panic and a freeze in lending, I am disappointed that our representatives have embraced the idea of moral hazard as fiscal policy. All this bill will succeed in doing is drawing out the housing crash longer than it needs to be; keeping responsible, hard-working people like me priced out of The American Dream (tm ) and simultaneously rewarding stupid, uninformed, irresponsible behavior. By the way, I lost $500 playing roulette last time I was in Vegas. The guy next to me, who told me he was an expert at betting, told me that after five reds in a row I was bound to hit black. Ca...

Peter Viles over at the excellent L.A. Land Blog posted a cool chart showing Southern California ZIP codes with the largest increase in foreclosures (among other useful information). And guess what? Out of all of SoCal, Long Beach made it into the Top Six ! Go Beach!! According to the chart, 90814 had 11 foreclosures compared to one in 2007, earning a 1000% increase. Nice! Now, when you start out with one measly 2007 foreclosure, a 1000% increase isn't that newsworthy. But what is worth noting is that this is in 90814, hardly considered a crappy neighborhood. In fact, 90814 encompasses most of Belmont Heights, considered by many (including me) to be a very desirable part of town (well, parts of it, anyway). Either way, the median price is a whopping $570,000, meaning other so-called "immune" areas are going to start feeling the pressure from these foreclosure comps. Some other notables: 90805: 119 foreclosures in second quarter 2008, earning the top spot in LB. 90807: ...

Currently there are 160 active single family residence listings in the Skaneateles area in the multiple listing service. This past week 7 new homes came on the market. Two of these are re-lists, two others are re-configurations of old listings (I'll explain later), and the other three are brand new (or at least not having sold in the past 7 or so years that the ML covers.) About the reconfigurations: these are new construction homes that initially were marketed as million dollar plus homes. They are now being sold as 600K homes - certainly smaller, less magestic, fewer bells and whistles. The market just isn't there. Butters Farm a few years ago learned that lesson also. People simply do not pay for that type of home not on the water or not historic - at least not yet in Skaneateles. Three homes closed this week! Hooray! At this rate we will exhaust our backlog in about a year. There are now 23 closings - last year at this time there were 50. I just spoke with a coupl...

After a cloudy, dreary, overcast day in Long Beach today, the sun finally broke through and we had an absolutely gorgeous day. Schooner or Later, if you've never been there, is a Southern California gem. In fact, realtors would be wise to mention a property's proximity to it: "A TENN MEEnUTE BIKE RYdE 2 skOONER 'r L8R!!!1!" Anyhow, we've seen some gloomy days in Long Beach real estate but I am confident the sun will eventually come out and those of us priced out of even the most disgusting, undesirable roach motels will have our pick of the litter for reasonable, economically sane prices. Sadly, that day has not yet arrived and delusion is still ruling the roost in the LBC. Address: 3401 E. 1st Street #6, 90803 Asking Price: $649,000 Year Built: 1966 Size: 2 beds, 2 baths, 1,481 sq. ft. $/Sq. Ft.: $438 HOA Fine: $200 Purchase price: $375,000 Purchase date: 6/2003 MLS#: P623107 On Redfin: 152 days Down Payment: $129,800 Monthly Payment: $4,000 Income Requiremen...

Just getting ready to leave it all behind for 24 hours or so and head for the lake. This sidewalk sale appeared to be a huge success! People everywhere - up and down the streets, eating ice cream, wandering through stalls. Lisa said it took her 15 minutes to go from the Post Office on Fennel to East Lake Road. Bob said cars were parked all the way up Genesee Street. That rain keeps coming at odd moments. Bob calls it "Hawaiian weather." First so hot and humid it's hard to breathe, then gushing rain showers until the gutters spill over and the drains fill up. Then a few hours of breathing until the heat comes again. Lush, lush vegetation though! This year's Nationals - all the hot rods and older cars at the State Fair - was fun. Someone told us it was 104 degrees - but not so hot as a couple years ago when I almost keeled over with the heat. We saw "The Fonz" in the Center for Progress Building. The guy behind Bob said, "Hey, Fonz!" and ...

10 Atlantic Ave #110, 90802 587 DAYS AND COUNTING... Just sayin'

Watching CNN yesterday at noon I was amazed at the lines of people waiting to get their money out of the California bank that failed. On the way in to the village I heard that any money over $100,000 was not insured, so the excess would be returned 25 - 50 cents on the dollar. I really never expected to see this in my lifetime. I thought of the scene in It's a Wonderful Life in which the people flood the bank, demnding their cash. Grapes of Wrath came to mind, with belongings (and Grandma) strapped to the pick-up. Say it ain't so! Well, it's not. It's a different world today than in the Great Depression. Institutions learned from that and changed, put in safeguards so America (and the world) would never have to go through that again. Yes, it will be different this year. Take the train, not the car to The City. Enjoy the beauty of the Finger Lakes and not Italy perhaps. Go to Saratoga and not Santa Monica. Sail instead of ski; Toggenburg instead of Aspen. Bu...

Q. Why are houses so much more expensive in Southern California than, say, Battle Creek, Michigan? A. Higher incomes Any reasonable, thinking person would accept that as a basic economic fact. If jobs don't pay much, people can't afford much. Supply and demand, baby. My follow-up question is, if we can so readily accept that other parts of the country are less expensive because higher prices couldn't be supported by local incomes, why do so many (still) readily accept that the rules don't apply in California?

This will be short, but maybe not sweet yet. The tide is turning. I'm writing this Tuesday morning and as I checked my MLXchange for broker's opens, I found none. I spoke with Lisa in the office and she said there were none that she could find, either - "I've never seen it like this!" she added. I think it's progress. We're now going to sell off everything that's there. Quickly, I hope! Snapshot: There are 159 active listings in the Skaneateles area. Only two new listings came on this past week, a village home and a waterfront for 1.4M. There are two new properties marked "K" for contingent for a total of 7 waiting for the next designation. Altogether there are 6 pending which means that all they need to do is close! We have 21 closures according to the MLS so far this year. Last year there were 48 closed by this date. Sigh. Marcellus had 32 last year and now 28; Camillus had 120 last year and now 141. Elbridge has held even. (BT...

You kids remember 204 Nieto in Belmont Shore ? Well I have a little update for you: Days on Market: 509 HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA ! New Description: Priced to Sell! Live in the Heart of Prestigious Belmont Shore! 2 nd Street's Unique Shops, Restaurants and Coffee Shops are Steps Away! Enjoy a Short Stroll to the Beach to Watch the Sunset. This is a Beautiful Craftsman Home w/Hardwood Floors and has been Completely Updated. Best of all you Benefit from the Extra Income the One Bedroom Rental Unit brings in every Month. This Home is Georgous and a Must See!! Seller recieved job transfer and moving out of area. Seller is VERY motivated to sell! " recieved "? “ Georgous ”? Really, you didn't have enough time to fix those egregious typos? Obviously this place isn ’t “Priced to Sell!” because IT’S STILL ROTTING ON THE MARKET AFTER 509 EXCRUCIATING DAYS! Please see the original post , where I marveled at a then-insane 328 days. And I see the new pricing strategy...

I've spent the weekend here in the village. Yesterday I showed properties literally from morning to night, and of course in between I held open 14 Hannum Street. In making appointments, I spoke with many agents and all were very willing to share what they've heard about the movement of properties. Some we know - there's a SOLD sign on the house on the corner of State and Austin. Actually, that may be all we know in that fashion, but.... The "million dollar home" - the brick on the corner of East and Onondaga - is 99% gone according to one inside source. It's never closed until it's closed, but SOLD may appear soon. A superb waterfront home that just came on may or may not be SOLD - we'll have to wait and see, but that should be resolved by the end of the week one way or another. I do know that my clients won out over four other offers and now have the privilege of doing a home inspection on a place in Skaneateles. I can't wait to see SOLD ...

Sean Kirst's column today in the Post-Standard had me in tears before 8:00, as his columns often tend to do. I read them with trepidation, wondering what emotion he will wring from me. Go to www.syracuse.com/kirst for his blog or the local section of today's P-S on www.syracuse.com to see what stirred me. Sean wrote about a culture that appears to be dying. He spoke movingly about his experiences growing up in an upstate New York city, and how he wanted the same for his children. The impetus was a report that said Syracuse, for the first time in decades, is under 140,000 in population. I've run into Sean over the years at Little League games and when my nephew returned from an extended tour of duty in Iraq. Many of my nieces and nephews have grown up on the west side of Syracuse, playing with his kids or at least enjoying the same pastimes. They've had true summers in the city - baseball games at the different parks, church on Sunday at Holy Rosary, theatrical pr...

Anybody trying to sell a property in this disastrous economic environment is either severely distressed or severely stupid. I'm having trouble figuring out which category this falls under. Address: 4045 E 3rd St #311, 90814 Asking Price: $361,500 Year Built: 1968 Size: 2 beds, 2 baths, 1,155 sq. ft. $/Sq. Ft.: $330 HOA Fine: $274/month Purchase price: $282,000 Purchase date: 7/2002 MLS #: P645213 On Redfin : 7 days Down Payment: $57,225 @ 15% Monthly Payment: ~$2,600 Income Requirement: $95,375 Description: Rarely on the market. Belmont Heights Casa Grande Condo. End Unit on the 3rd floor. Quiet and clean complex. Low HOA dues. 2 Parking SPACES! Pool. Walking distance to Ocean Blvd & 2 nd Street. South Facing. Hills View. Great price, for this area! Spacious bedrooms. Well kept home. Move in ready. Great balcony with breeze. You cannot miss this opportunity to live in Belmont Heights at this price. Newer carpet, paint & bathroom fixtures. Seller to include a 1 year hom...

No question. I walked in to this home at 14 Hannum Street and was greeted by John Petrus ( homeloan.chase.com/john.f.petrus ) with " This is the House of the Week!" Apparently John has been reading my blog; he was there providing the refreshments for Jerry Morrissey's broker's open. I chatted for a while with the homeowner, and we played the small world game. Her kids went to school with my niece and nephew, she's good friends (who knew?) with one of my sisters-in-law, and she also knows old friend Randy, famous for mentions in Jeff Kramer's irreverent column in the Post-Standard. Phfew! Got that out of the way! As I stood there in the kitchen I realized overwhelmingly that I was in a unique home. I knew the house from its last incarnation - small, but with a measure of character, certainly a village home on the order of a Provincetown home without the exterior charm, close to others but so wonderfully in the village and on the creek. There were possibilities...

This week should be subtitled, "The Waterfront Edition." There are currently 163 single family homes on the market in the Skaneateles area of the multiple listing service. Of course this includes new construction and properties not actually in the Town or Village of Skaneateles but somehow related to them. This past week 8 more properties came on the market, of which 3 are waterfront and 2 are re-lists, one of them a waterfront. Since the Fourth of July weekend was last week and the village was absolutely overrun with tourists, bringing the waterfront properties on made a great deal of sense. There were 2 - count 'em! - properties marked contingent. One was an incredible waterfront (or close to - across the road) and the other had great lake views. Also, the 1 closed property was waterfront, in the low $600,000s. This made me wonder how all those many waterfront properties were actually doing in relation to other years. Of the closed properties this year-to-date (20)...

I took a brief hiatus over the Fourth of July holiday, and my apologies to you, loyal readers. That doesn't mean I wasn't busy with real estate and Life. During this time, I: Wrote three offers, one of which turned into a multiple offer rapidly (of course this also means we saw three properties, wrote the contracts, re-wrote the contracts...) Roamed the lake, bringing flares to my waterfront clients (it's a long lake!) Worked with Pat Canole of the Post-Standard to make 11 Onondaga the House of the Week this past Sunday Held 11 Onondaga open Sunday afternoon - it was amazing! The power of the press! In the Life category: My son proposed to his lovely Rachel with a sign we hung from the deck at the lake, "Rachel, Will you marry me?" She said "Yes!" We said good-bye to our old cat, Hermes, Sunday night. He was the subject of a blog (March 13th in the archives) when we thought he might leave us. Doc Schnabel said "Not yet" and Hermes got to sit i...

Address: 1100 E. 3rd Street, 90802 Asking Price: $499,000 Year Refurbished: 2005 Size: 1 beds, 3 baths, 1818 sq. ft. $/Sq. Ft.: $274 HOA Fine: $350/month Purchase price: $799,000 ( oofa .) Purchase date: 9/2006 MLS #: G101212 On Redfin : 261 days Down Payment: $74,850 @ 15% Monthly Payment: $3,500 Income Requirement: $124,750 Description: FABULOUS LOFT AT THE BEACH!! Premier penthouse loft with enormous roof deck, breathtaking views, at the beautifully restored (2005) Ebell Lofts, just 3 blocks to the sand and 2 blocks to the trendy East Village area of Downtown Long Beach. Beautiful glossy concrete floors, high end kitchen with granite counter tops and stainless steel appliances, 1 full and 2 half baths, a balcony + roof top deck with city skyline and harbor views! Truly amazing! Must be seen to be believed!!! Let’s cut right to the heart of the matter: If this loft sells for asking price, the loss to the owner will be $330,000. Even the Sultan of Brunei would wince in pain knowing...

Good lord. Address: 1450 Locust #117, 90813 Asking Price: $112,900 Year Built: 1990 (wow, that was a ROUGH 18 years) Size: 2 beds, 2 baths, 728 sq. ft. $/Sq. Ft.: $155 HOA Fine: $225 Purchase price: $239,169 Purchase date: 5/2007 MLS#: R804233 On Redfin: 69 days Down Payment: $16,935 @ 15% Monthly Payment: $1100 Income Requirement: $28,225 Description: This excellent ground floor unit will make an great investment. Two bedroom, two bath great starter home near downtown. The property is in need of rehabbing, but fix it and save. Excellent live-in unit or rental. "In need of rehabbing" eh? Yeah, you could say that. This place makes the apartment from that scene in Se7en (You know, the one with all the air fresheners hanging from the ceiling) look like the lobby of the Maui Four Seasons. The handful of pictures and the lack of any cleaning whatsoever makes me think the listing agent couldn't hold his nose any longer and bailed. What do you suppose this yellow sticker says...