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Showing posts from September, 2009

WTF?

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The list price was "$295,000" and changed to "$520,250" Getting started early on the "Spring Bounce"...in 2039?

Skaneateles Real Estate - The Weekly Update

As Bob left the house this morning wearing a hat and his longjohns, bringing gloves with him, I was reminded once again that winter is coming. I think this weather has more to do with the pro golf tournament being held out at Turning Stone. The weather gods want to keep Central New York pristine, so it dis-encourages people coming to this area. In Seattle there was a popular bumper sticker: "Have you been mean to a tourist today?" Of course, more than half the population had come from somewhere else, and we all knew that Seattle was not the rainy city that has always been promoted. The same with here. A week from now it will be 70 degrees again with brilliant October sunshine. Just have to get those golfers out of here first! Currently there are 154 active listings in the Skaneateles area as defined by the multiple listing service. Only one new one came on this week, a 3 bedroom under $200,000 in the Jordan-Elbridge School District. No, I take that back. A second p

Weekends Away

In the fall Bob's family pulls up stakes wherever they are and journeys to the Adirondacks (usually) for a weekend to celebrate his mother's birthday. This started after his father died in 2002 because she wanted the family around her. "The family" means seven married children with many children, step-children and now great-grandchildren as well. The first year we numbered 30 for Saturday night dinner at a restaurant in Old Forge. We never went out to eat again, en masse! In other years we've stayed at the incredible Sagamore Great Camp, the past home of the Vanderbilts. After a four mile drive into the estate from Route 28, we took over the lodge for the weekend. We walked, had bonfires, huge dinners with the other guests (meals included but don't be late!) and then toured Old Forge on Sunday afternoon. Accommodations were single rooms in the lodge - you can see footage of it in "The Good Shepherd," a Matt Damon film a few years back. This ti

RE in the LBC's 300th Post!

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300! Can you believe it? When I started this blog in January 2008, I never imagined this little hobby of mine would become so, well, prolific. I also can't believe how much has changed since the Long Beach Housing Blog's inception. I remember all the hate mail I used to receive from real estate "experts" and others who simply refused to see what was so obvious: The housing bubble party was as dead as Elvis and things were about to get real ugly, real quick. And obviously not everything I predicted came true, but a depressing amount of my prognostications did. But the point is I took the time to educate myself and see both sides of the coin even as the circumstances changed. There's no glory in being wedded to a certain outlook or position--especially when data and facts show that position to be woefully ignorant or contrary to an ever-changing reality. Having an open, nimble mind is a great quality--one I strive to maintain, and seek out in others. Anyhow, as I&#

I Hate to Brick it to You

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257 Belmont, 90803 Price: $955,000 Beds: 4 Baths: 3 Sq. Ft.: 2,536 $/Sq. Ft.: $377 Lot Size: 6,150 Sq. Ft. Year Built: 1931 MLS#: P675017 On Redfin: 227 days Description: Sophisticated Tudor style 4 bedroom home with 2 1/2 baths, stunning hardwood floors throughout, formal entry, huge living room with gas burning fireplace wood beamed ceiling and corbels, formal dining room, breakfast room with built-ins, original door knobs, wainscoting throughout, 2 downstairs bedroom, inside laundry room, spectacular remodeled upstairs bathroom, large bedrooms, a secret playroom, basement, original kitchen with Wedgewood stove, 2-car garage and more. This property has so much charm and character throughout. A must see for the appreciative Buyer! See the implication there? If you aren't interested in checking out this place or paying the million-dollar price tag, you're not an "appreciative Buyer" with a capital B . So why don't you just run along to the welfare line and get som

Skaneateles Real Estate - The Weekly Update

I spent this evening doing a walk-through of a lovely property. Way out in the country, the trees starting to turn, mist rising over the hill being caught by the setting sun. I wanted to pull up a chair and sit on the wrap-around porch and watch the night come in. But I had miles....and miles...to go before I sleep...and this update to write as well. Currently there are 155 active listings in the Skaneateles area of the multiple listing service. Seven are new. Three are basic re-lists - reductions in price, a "new look and number" in the computer. (An agent can hit a button and come up with the history of the property.) Four are new. Two are town properties under $200,000. One has an amazing almost 200 acres with gorgeous views of the lake - development anyone? Castle? The last one is actually out of the county and in the Homer school district, but has a tremendous view of the lake. Two homes were marked newly contingent. One is in the half million dollar range an

High FICOs Hightailing It

Anton Chigur writes: El Bee: Would appreciate your thoughts/comments relative to the scenario outlined in the below article. http://www.latimes.com/classified/realestate/news/la-fi-harney20-2009sep20,0,2560658.story Thanks Anton for sending this in. This article has been making the rounds and basically says owners with high FICO scores are walking away from properties in droves. No surprise. Those with good credit scores tend to be better with money and can spot a worthless investment when they see one. So they bounce when they see the writing on the wall. As far as my opinion on the matter, lots of people have encapsulated my own thoughts pretty well . One such person is a reader of this very blog: Wizard writes: Anton Chigur. Purely a business decision. Nothing ethical or moral. It's in the contract,house is collateral for loan. They made loan with said collateral. Also to be considered: With so many walkers.. credit scores will adjust to suit. That pretty much says it all. And W

Vacation Thoughts

Last week we went to the Cape for a few days. We've gone in the past. The first time we brought my mother and a hurricane hit while we were there, after hours of being stuck in traffic trying to get there well before the storm. We came back early. The second time it was just us and the dogs. I spent a marvelous September beach day sitting in the sun and strolling the beach. We went up to Provincetown and ate lunch outside (with the dogs lying peacefully under the table) and rambled through the town looking into the shops. That was a particularly good vacation. Generally wherever we go has extraordinarily bad weather (hurricanes and frosts) while at home it's a week of unseasonably lovely weather or fantastic blizzards we would have enjoyed. So it's always with trepidation that we set out. This was no exception. Bob went up early - it's a working vacation for him - and I followed with Koko the next day. We ate at a fish place that didn't compare with Doug&#

Solar Heated Fool

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3626 E Vermont St, 90814 Price: $589,000 Beds: 2 Baths: 1 Sq. Ft.: 1,180 $/Sq. Ft.: $499 Lot Size: 5,940 Sq. Ft. Year Built: 1920 MLS#: P703217 On Redfin: 8 days Down Payment: $118,000 Income Requirment: $168,000 Monthly Nut: $3,300 Description: 1920 Craftsman gem located in Belmont Heights. No water landscaping in front yard. Expansive front porch with stone accents. New carpet and fresh paint in living room and both bedrooms. Completely remodeled kitchen with granite, new cabinets and new appliances. Laundry room located off of the kitchen for convenience. Back yard has a solar heated endless pool and large patio. Huge back yard perfect for gardening. One car finished garage and long driveway for extra parking. "Completely remodeled kitchen." Thanks for not providing a decent photo. Bang up job there, Sparky! This thing was purchased in 1988 for $230,000 . Now that the mortgage has reached legal drinking age, they're unburdening themselves and trying to walk with a ti

Pepto Dismal: UPDATE

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Remember this pink panther slinking around the MLS? The list price was "$345,000" and changed to "$325,000" I guess I missed a price reduction earlier this month because the last time we checked in, this stinky pinky was asking a mind-blowing $365,000 . $40,000 more in imaginary equity down the drain. Wow, this short sale just keeps getting shorter! Unfortunately, it's still incredibly overpriced. And, uh, hideous. This short seller, if he doesn't get serious soon, is fucked with a capital F. As for some guidance to where you should be priced, let's check out the recently sold comps (seller, I strongly suggest taking a swig of Pepto, crunching a couple of Tums, and bracing yourself for this): $190,000 1919 E Beverly Way #1 Sold on Apr 08, 2009 0 miles 2 bd / 2 ba 1,014 Sq. Ft. $163,000 1919 E Beverly Way #2 Sold on Jun 29, 2009 0 miles 2 bd / 2 ba 1,014 Sq. Ft. $235,000 1919 E Beverly Way #3 Sold on Jun 02, 2009 0 miles 2 bd / 2 ba 1,014 Sq. Ft. Pl

That's a Helluva Sales Strategy You've Got There: UPDATE LXVIII

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**UPDATE** I love my readers. Littletiger1969 hooked us up with the 411 on our favorite saltine box. Finally some closure, but at the same time I'm pretty floored it took this long for the "Cycle of FAIL" to be completed. Check it: Littletiger1969 says: "Got these from RealtyTrac 416 Roswell Ave Long Beach, CA 90814 History of Notices Recording Date 9/10/2009 Status NTS Recording Date 6/9/2009 Status NOD Default Amount $16,261 Keep up the good work!!" Oh for fuck's sake. Just two days after this... The list price was "$414,000" and changed to "$389,000" ...we get this: The list price was "$389,000" and changed to "$414,000" The status was "Active" and changed to "Contingent" Can someone with access to public records please look up whether a Notice of Default has been filed? I'm curious if this dude has been living rent free while the bank dicks around with this short-sale-that's-not-act

Shot in the Dark

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1990 Chestnut Ave, 90806 Price: $439,000 Beds: 3 Baths: 2 Sq. Ft.: 1,638 $/Sq. Ft.: $268 Lot Size: 4,233 Sq. Ft. Year Built: 1931 MLS#: P678516 On Redfin: 195 days Down Payment: $88,000 Income Requirement: $125,000 Monthly Nut: $2,400 Description: Discover Wrigley. This 1931 Spanish Charmer on a corner lot has classic period details throughout. Enter through hall into a living room with soaring coved ceiling, mock fireplace and hardwood floors. Step up to formal dining room with period windows, updated large kitchen with bright and airy breakfast nook. Vintage tile in both bathrooms. Each of the 3 bedrooms has large closets. Walled back yard has a long driveway and a 2 car garage. This is a very special home! From Wrigley area bike path to downtown New Pike, Marina, Restaurants, Aquarium. "Bike path to downtown New Pike, Marina, Restaurants, Aquarium"? Yo, that's like a two mile bike ride! I guess that's good if the Aquarium is low on water and can use the sweat gener

Don't Stop Believin'

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1230 E Ocean Blvd #103, CA 90802 Price: $1,150,000 Beds: 2 Baths: 2 Sq. Ft.: 1,264 $/Sq. Ft.: $910 Year Built: 1985 MLS#: S523506 Source: SoCalMLS Status: Active On Redfin: 564 days HOA: $416 Down Payment: $230,000 Income Requirement: $329,000 Monthly Nut: $7,100 Description: Live at the beach! Listen to the surf! Enjoy this corner unit with a front on ocean view at sand level. Appealing upgrades include hardwood flooring throughout, gas/wood burning F.P., plantation shutters, recessed lighting & French doors. Innovative open wall spaces in kit. with granite counters, stainless steel appliances & cherry wood cab. Clever use of mirrors, updated baths with pedestal sinks, jacuzzi tub & sep glassed-in shower. Direct beach access from L-shaped balcony. "Live at the beach! Listen to the surf!" Die in a fire! $910 per square foot? How's that working out for you? Oh, 564 days rotting on the MLS? You don't say. By the way, the only reason to employ "clever us

Skaneateles Real Estate - The Weekly Update

With my cat, Oscar, helping with the keys and Koko providing good quiet assistance at my feet, I thought I'd slip in this update. I've started a major decluttering project (as Linda at the office says, "Didn't you do that last year?") and it's actually quite pleasant to sit in my studio, as I call it, now that there's less furniture. There are currently 153 active listings in the Skaneateles area as defined by the multiple listing service. A friend said the "active" A should be for the "asking" price. I can't figure out a witty K for contingent, P for pending, X for expired or C for closing. Suggestions gladly taken! The seven new listings are actually 5 re-lists and two brand new ones. The latter are new construction in the village at Parkside and a mid/upper $300,000 house in the village that apparently is in foreclosure. They are showing it and will review offers after a couple open houses. Interesting. There are on

That's a Helluva Sales Strategy You've Got There: UPDATE IV

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Ugh, just put a bullet in this thing's brain already. The list price was "$414,000" and changed to "$389,000" Has there ever been better evidence of banks doing everything in their power to delay the foreclosure process and keep properties off their books? A year and seven months of this happy horseshit. Just sayin'.

ARTICLE: L.A. mortgage brokers are accused of stealing nearly $1 million

Via the LA Times : The California attorney general's office says that beginning in 2007, the three co-workers conspired to forge clients' signatures on phony refinance documents and pocket fees based on bigger loans. By Nathan Olivarez-Giles, September 12, 2009 Three Southern California mortgage brokers have been arrested on suspicion of stealing nearly $1 million from borrowers seeking to adjust their home loans. Michael McConville, 31, and co-workers Garrett Holdridge, 23, and Alan Ruiz, 28, are scheduled to be arraigned Monday in Los Angeles County Superior Court on charges of bilking more than 70 homeowners, said Scott Gerber, a spokesman for the California attorney general's office. ... In May, the attorney general's office sued McConville and his brother Sean for alleged roles in a property tax reassessment scam that targeted Californians looking to lower their property taxes. The McConville brothers sent out thousands of mailers, adorned with official-looking log

Not Selling? Try a Price Increase!

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This International Tower apartment made its debut in the Girls, Girls, Girls post as an example of this guy's competition. The featured seller has since given up the ghost, but Unit #1004 has soldiered on. The last time we checked in, he was asking $565,000 (which seemed like a deal compared to the absurd $859,000 of #2505) but time has been unkind. Now he's asking $419,000 and has slipped into short sale territory. 700 E Ocean Blvd #1004, 90802 Asking Price: $419,000 Beds: 3 Baths: 2 Sq. Ft.: 1,260 $/Sq.Ft.: $333 Year Built: 1965 MLS#: L28059 On Redfin: 305 days HOA Fine: $635 Down Payment: $83,800 Income Requirement: $120,000 Monthly Nut: $2,900 Description: ACCEPTING ALL OFFERS !!!Attn This is a must see!! !!!!!Coastline view!!! Well Priced!!!! , fabulous views at night!! Designer decorated throughout open and spacious with glass walls floor to ceiling and a wrap around balcony!!Complex has a pool. gym and 24hr concierge!!2 parking spcaes and extra storage unit.condo is leg

A Few Thoughts

I spent the afternoon holding a darling three week old baby. She was born to a couple who had looked for months and months with me for the perfect house. I've written about them before, how hard it was for all of us, how much I despaired that they would ever find something. There was an urgency to it also because the wife was getting older by the minute (aren't we all?) and she wanted to be settled before having another child. The child I held was that dream baby. There are so many faces to a real estate purchase or sale. These people sold their home with me and their buyer came through me also, right about this time last year. She since has changed jobs and relocated - I hadn't taken the file out of the car before she called to list it! She rented it herself, but what a wild year we've all had. Yesterday I had lunch with another woman who has become a friend. As we sat at Bluewater - she likes the flatbread veggie sandwich, I love the ahi tuna and avocado salad

The Millennium FAILcon

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Yo, is that rooftop dish from the Millennium Falcon? 1041 E Amelia Dr Long Beach, CA 90807 Price: $899,900 Beds: 4 Baths: 3.5 Sq. Ft.: 3,019 $/Sq. Ft.: $298 Lot Size: 10,880 Sq. Ft. Year Built: 1951 MLS#: P681979 On Redfin: 384 days Down Payment: $180,000 Income Requirement: $257,000 Monthly Nut: $5,400 Description: Price reduced another $100,000! Extensively remodeled in 2000, the 4bd, 3.5bath, pool home is an entertainer's dream. Large formal living room with bay window. Formal dining room. Large gourmet kitchen with granite counters, stainless steel appliances, cherrywood cabinets, walk-in pantry with travertine marble floors. Large Great Room with fireplace overlooking salt water pool and spa with pebblecoating and 3 relaxing waterfalls. Master suite as two large walk-in closets and French doors that open to pool area. Master bath has seperate soaking tub and shower with marble double sink vanity. 2 large gallery hallways to exhibit art collection. Home and backyard wired for s

Skaneateles Real Estate - The Weekly Update

I can't wait to get all the information. It seems as if there was a lot of movement - new listings, listings changing brokerages, price changes - and hopefully some closings! If you missed it, get the Sunday Post-Standard for the House of the Week. Renee Dwyer's RE/MAX listing has had a great deal of attention from my buyers who are not ready yet to purchase but they absolutely love this property. It's a charmer - and well under $200,000! Currently there are 146 active listings in the Skaneateles area of the multiple listing service. We have seven new ones, well sort of new, this week. Three are actually new, all outside of the village and in the $250,000 to $350,000 range. One is on the market but can't be seen until mid-October, but the agent wants some exposure at least. The other four have come on either with new agents, new prices, and one with a reduction marked by less acreage for a quicker sale. There is everything - waterfront, village, town, and real