kaulat

7/28/2006: Purchased $770,000 1/25/2010: Sold $610,000 So, factoring in commissions the seller lost nearly -$200,000 . And he also pumped a lot of cash into upgrades, meaning he lost a veritable truckload of his own dough in this transaction. But, I'm glad that he's finally free from his poor decision and avoided Short Sell Hell! To the new owner, congratulations and enjoy that awesome view (and that kitchen resembling a Smurf's diaper)! ++++++++++++++++++++++++++++++++++++++ 25 15th Pl #804, 90802 Price: $579,995 Beds: 3 Baths: 2 Sq. Ft.: 1,310 $/Sq. Ft.: $443 HOA: $407.40 Year Built: 1989 MLS#: P697199 On Redfin: 8 days Down Payment: $116,000 Monthly Payment: $3,500 Income Requirement: $166,000 Description: The pride of Long Beach! Featuring astounding beach and ocean views, a gorgeous interior, and an impeccable presentation, this is a paradise for anyone that has ever dreamed of a peaceful and wonderful getaway for their home. It is impossible to not fall in love with t...

I am not going to push myself to always write on the day of the week for which I report the update. In that way I won't have any after dinner "got to get it done" updates, but a thoughtful presentation (I hope!). This update will refer to the past week, that being January 20th through the 27th, Wednesday to Wednesday. There are currently 101 active listings in the Skaneateles area as defined by the multiple listing service. Five new properties - well, sort of - came on this past week. Two are re-lists, a small house in the village and a ranch just outside. One of the new properties is in the high $200,000 and has lake rights just outside the village. The other two properties are admittedly my own listings. The larger one has 50 acres, a 3,000 sf house overlooking the lake, and 153 feet of waterfront down below. Contained within this is a separately deeded 75 feet of waterfront and a two acre building lot with lakeviews. The second listing does not contain the wate...

The price was "$875,000" and changed to "$825,000" Now we're getting somewhere! P.S. We're at 84 DOM, and the illiterate realtor still hasn't fixed the "Elementry" typo. Great work, champ! ++++++++++++++++++++++++++++++++ The price was "$899,000" and changed to "$875,000" Hey, at least he's under $600 per square foot now! ++++++++++++++++++++++++++++++++ I've been traveling more than George Clooney's character in Up in the Air . Savannah was pretty cool and Austin was a blast as always. Anyhow, I'm back and have been checking out this bungalow LBCee sent in: ADDRESS: 5266 East APPIAN Way, 90803 ASKING PRICE: $899,000 BEDS: 3 BATHS: 2.75 SQ. FT.: 1,471 $/SQ. FT.: $611 LOT SIZE: 5,000 Sq. Ft. YEAR BUILT: 1940 MLS#: P709784 ON REDFIN: 35 days DOWN PAYMENT: $179,800 INCOME REQUIREMENT: (4x income): $225,000 MONTHLY NUT: $4,900 DESCRIPTION: Charming Belmont Park cottage style home. Included in sq. ftge. is deta...

January 27: The price was "$344,999" and changed to "$344,888" Wheeeeeeeeeeeeeeeeeeeeeeeee! This is fun! P.S. I've decided that I REALLY like this place. I would be willing to make an (incredibly low-ball) offer...if they were smart enough to accept financed bidders. Oh well. +++++++++++++++++++++++++++++++++++ January 22: The price was "$356,000" and changed to "$344,999" Wow, are they finally getting serious? +++++++++++++++++++++++++++++++++++ January 18: The price was "$356,001" and changed to "$356,000" LOL! +++++++++++++++++++++++++++++++++++ 700 East OCEAN Br #2102, 90802 Asking Price: $356,002 Purchase Price: $518,000 Purchase Date: 6/2007 (right at the peak, ouch.) Beds: 2 Baths: 2 Sq. Ft.: 1,080 $/Sq. Ft.: $330 View: City Year Built: 1965 MLS#: Y904098 On Redfin: 137 days HOA: $638 Down Payment: $356,002 Monthly Nut: $638 Description: THIS IS A CASH ONLY DEAL!! Property is corporate owned, we respond to offer...

2601 East OCEAN Blvd #605, 90803 Asking Price: $529,000 Purchase Price: $338,000 Beds: 3 Baths: 2 Sq. Ft.: 1,484 $/Sq. Ft.: $356 Year Built: 1973 MLS#: P711189 On Redfin: 71 days HOA: $566 Income Requirement: $132,250 Down Payment: $105,800 Monthly Nut: $3,300 Description: Highly sought after corner, panoramic ocean and city view unit in the newly remodeled, elegant and oceanfront security building, the 'Versailles', located in the estate section of Bluff Park. Stunning ocean white water views of the shoreline, Queen Mary & Catalina. Not to mention amazing 270 degree plus views back to Downtown LA and the Mountains as well from your floor to ceiling windows in every room! Three bedrooms and 2 balconies make for a great open floor plan with views everywhere you look and terrific ocean breezes!This home is priced aggressively and is a rare find not to be missed!Terrific location steps to Bike Path, beach & Art Museum. Small pet ok. Just like yesterday's realtor, this ...

By way of Calculated Risk, Diana Olick's latest article on Strategic Defaults : The lead story in commercial real estate today is the dynamic duo of Tishman Speyer and BlackRock walking away from Stuyvesant Town and Peter Cooper Village in Manhattan. The two have been trying to refi $4.4 billion in debt on the 11,200-apartment property, to no avail. So now they're handing over the keys to the lenders. The joint venture bought the property at the height of the market for $5.4 billion. Now, thanks to falling values in commercial and residential real estate, it's worth about $2 billion. Here's the quote from the venture: "The only viable alternative to bankruptcy would be to transfer control and operation of the property, in an orderly manner, to the lenders and their representatives." [That's a nice way of saying: WALK THE HELL AWAY] This news comes on the heels of Morgan Stanley walking away from its commercial mortgage commitments on five buildings out in ...

1728 East 3RD St #3, 90802 Asking Price: $289,000 Purchase Price: $132,500 (10/1999) Beds: 2 Baths: 1 Sq. Ft.: 910 $/Sq. Ft.: $318 Year Built: 1928 MLS #: P703419 On Redfin : 130 days Income Requirement: $72,250 Down Payment: $10,115 (FHA) Monthly Nut: $2,000 (yikes!) Description: WOW!!! This fabulous historical Rose Toweers condo is three blocks from beach, trendy shops and dining and public transportation. This unit is downstairs and has wonderful hardwood floors, faux fireplace in living room, faces courtyard, has dining area in living room and kitchen and has great choice of colors throughout. The complex falls under the Mills Act because it is historical and is on the National Registry of Historical buildings. WOW. Just a beautiful and charming place. This is not a short sale or REO property WOW!!! How the hell do you misspell "Towers"? And I love this... Property Features: Window Bars Bonus! I really like the look of this complex. I can't explain it. It just look...

This is one of those sports weekends that makes Syracuse the place to be. I've loved it since I was a kid and walked over to Manley Field House with my friends to watch Jim Boeheim play ball with his friend Dave Bing. Now I enjoy the walk in to the Dome to watch him coach. We went to the Marquette-SU game Saturday, two of over 29,000 fans gathered for the event. It's amazing to witness - no other basketball house comes close to the Dome and its people. From where we sat we could see Bob's cousin Mike with his orange towel under the basket, and see that he brought Aunt Joanne (even though she wore pink, we'll still claim her!) And we were far up, next to "311 Heaven." What a great place to go on a Saturday! Today Mike Hart suits up to play with the Indianapolis Colts for the AFC championship and a chance to go to the Super Bowl. For newcomers to the area, Mike played for tiny Onondaga Central and broke all records (I swear!) for high school running back...

Via The Big Picture Blog :

The price was "$875,000" and changed to "$850,000" I have to give him credit for consistently lowering the price, but I've got bad news: on the very same day as his $25,000 price reduction, his (waaaaaaaaaaaaaaay nicer) competition on Monrovia lowered his ask to $835,000 (FYI, that's down from $1,055,000 in July 2009. He's been reducing the price every week since). +++++++++++++++++++++++++++++++++++++ I apologize for the recent focus on 90803 bungalows, but these nitwits and their delusional senses of entitlement have to be called out. Address: 222 SAINT JOSEPH Ave, 90803 Asking Price: $875,000 Beds: 2 Baths: 2 Sq. Ft.: 1,600 $/Sq. Ft.: $547 Lot Size: 4,050 Sq. Ft. Year Built: 1937 MLS#: P694685 Source: SoCalMLS On Redfin: 157 days Down Payment: $175,000 Income Requirement: $220,000 Monthly Nut: $4,800 Description: BACK ON THE MARKET!!! Will consider trade for a duplex with a yard. Restored, enlarged Belmont Shore showplace home on a larger lot. 2 be...

January 18: The price was "$356,001" and changed to "$356,000" LOL! +++++++++++++++++++++++++++++++++++ 700 East OCEAN Br #2102, 90802 Asking Price: $356,002 Purchase Price: $518,000 Purchase Date: 6/2007 (right at the peak, ouch.) Beds: 2 Baths: 2 Sq. Ft.: 1,080 $/Sq. Ft.: $330 View: City Year Built: 1965 MLS#: Y904098 On Redfin: 137 days HOA: $638 Down Payment: $356,002 Monthly Nut: $638 Description: THIS IS A CASH ONLY DEAL!! Property is corporate owned, we respond to offers right away. Take a look at the inside, this is chic to say the least and is perfect for somebody who just wants to move in right away. Sellers [SIC] loss, your clients [SIC] gain. "THIS IS A CASH ONLY DEAL!!" LOL. Way to expand your buyer pool, idiot. Smart move catering only to buyers with hundreds of thousands of dollars just sitting around in coffee cans. Because we all know their numbers are growing by leaps and bounds. Such a shame too because if they opened themselves up to a ...

Via US News & World Report: Strategic Defaults and the Foreclosure Crisis [I really wish they would stop calling it a foreclosure "crisis." Debt is the disease and foreclosure is the cure--why don't people realize foreclosure is ultimately a good thing?] Nearly a year after the Obama administration unveiled its ambitious housing rescue program, foreclosure tallies continue to break records. Foreclosure filings were reported on more than 2.8 million properties in 2009, up 21 percent from the previous year and 120 percent from 2007, according to RealtyTrac. With nearly 10 percent of mortgages now delinquent--which is also a new record--even more homeowners appear headed for foreclosure this year. "A massive supply of delinquent loans continues to loom over the housing market," RealtyTrac CEO James J. Saccacio said in a statement. "Many of those delinquencies will end up in the foreclosure process in 2010 and beyond." Homeowners have found themselves...

"The Weekly Update." Hmm. I didn't start out this year with a weekly update, or any update for that matter, except for the list of homes that closed at the end of last year. I did that purposefully because I was feeling as if the weekly update was getting stale, and compulsory. I didn't like that. But as I go through the listings and sales, I am reinvigorated. I do love those statistics that tell the story! I also like being right on top of things, knowing my market. A weekly update forces me to learn. Kind of like weighing myself every day - which I'm not doing either. Monitor and adjust - maybe I just have to make it more interesting to me! Currently there are 95 active listings in the Skaneateles area. Last year at this time there were 121 - a significant difference! Of the 121, 34 were waterfront. This year there are 23 identified as such. I want to believe that with the reduction of inventory the sales will increase. This is a great sign! The ...

I was up in Signal Hill last week for a group walk. Not only was it great exercise, but the views were absolutely astounding. I haven't been up there for a really long time and it reminded me how beautiful Long Beach at night can be. On our route up, down, and around the hill, I realized just how out of control the development of SH was during the bubble. Good Lord! Practically every square inch of land was covered by a hulking McMansion! However, there were some GORGEOUS houses up there in the gated areas. It kind of reminded me of areas in South OC like Aliso Viejo or San Juan Capistrano, actually. The nice aspects of suburbia like the little parks and playgrounds for the kiddies, newly paved streets, and clean-looking new construction. And the negative aspects like houses so close to each other that you can flush your neighbor's toilet from your bedroom (one development sported "houses" with shared driveways and a common wall running from the garages through the en...

Thanks Anonymous for sending this one in: Hey El Bee, New reader. Love your style. Keep it coming! PS - What did you think about the 400k price reduction at 308 Claremont?!? But a short sale with the need for lender approval from two different banks. That's about as likely to happen as... 324 per sq ft in the shore though. Not that bad. Address: 308 CLAREMONT Ave, 90803 Asking Price: $999,900 Purchase Price: $1,330,000 Beds: 4 Baths: 3.5 Sq. Ft.: 3,076 $/Sq. Ft.: $325 Lot Size: 3,454 Sq. Ft. Year Built: 1969 MLS#: P706454 On Redfin: 98 days Down Payment: $199,980 Income Requirement (4x income): $249,975 Monthly Nut: $5,900 Description: An amazing home in the highly sought after Belmont Park area on one of the most desireable streets. This is a unique three story home with fantastic water views from the third floor. Upon entering you quickly realize you have found something special, with a large step down formal living room with fireplace, built in cabinetry, and soaring vaulted cei...