The 2011 Selling Season Has Arrived - Now Show Me Some Rollbacks *Update 1*

I last featured 1025 25th back in January of this year.

Previous Purchase: 9/13/05 - $1,720,000


Old Listing History: 2/27/09 - $1,895,000

Current Listing History: 1/14/11 - $1,650,000

Withdrawn after 70 days on market


I'm guessing we will see this house back on the MLS at some point in the future.

BOMB on Montana *Update 1*

I last featured 754 23rd all the way back in April 2008.

But 2008 wasn't even the first time it was listed. As we found out last time I did a post on this house, it was first listed in June 2006 for $2.7mm.

When I featured it in April 2008, it was asking $2.279mm.

Nothing ever happened and now it is Back On Market (Baby).

Current Listing: 3/24/11 - $1,949,000

There is a location discount in effect for sure as this house is located on Montana. I don't know if the current asking price is low enough to finally produce a sale but I will follow this and update the blog when/if it sells.

Delusion Isn't Dead *Update 1*

I last featured 2323 California earlier this month when I said this house was wildly overpriced.

Listing History: 3/7/11 - $2,595,000

Reduced down to - $2,450,000


They reduced the price pretty quickly. However, this wasn't that big of a reduction and the starting price was way too high...so ultimately this looks to still be pretty overpriced.

2004 Rollback

Address: 443 14th - 90402

Details: 4 bed/5.5 bath 4,071 sq ft house, 7,550 sq ft lot, 2002 construction

Description:  Fabulous newer north of Montana two story Spanish remodeled with great taste, style & quality. Wonderful authenticity including elements from the 1920’s but with a fresh, whimsical, Contemporary feel. Cylindrical entry with sweeping stair leads to step down living room with tall wood beamed ceiling & fireplace, large formal dining room, generous office/den and sensational cook’s kitchen/family room that opens through French doors to patios, outdoor fireplace, built in bbq, synthetic lawn and gorgeous pool and spa with an electric cover. Ideal floor plan includes a total of 4 spacious bedrooms + office/guest/yoga room upstairs with one of the bedrooms downstairs. Terrific master w/ fireplace, window seat, private terrace, lavish bath and large walk-in. High ceilings, hardwood floors, custom hardware & fixtures and beautiful finishes throughout. Close to Montana shops & restaurants. Very special home featured in LA Times Home Section and Domino Magazine. Best Los Angeles lifestyle!

Previous Purchase: 4/5/05 - $3,333,000

Listing History: 9/2/10 - $3,795,000
Reduced down to - $3,295,000


SOLD: 3/11/11 - $3,100,000

Delusion Isn't Dead

EDIT 2 -- The listing is back with a new MLS # and a new description (the first one was useless). Emotional Country Craftsman Bungalow. Enjoy ocean breezes in this remodeled home that is conveniently located near shops, schools, beach and wonderful Douglas Park. Open light filled rooms with high ceilings, large windows, warm country kitchen and family room that opens to a European garden for entertaining, additional separate library, sun room, large open loft/office, reclaimed hardwood floors and doors, finished garage. Custom finishes with great attention to detail.


EDIT -- The listing has now been "withdrawn". So this was listed for one day. I did a post that day and overnight it goes to "withdrawn". Interesting.


Address: 2323 California - 90403

Details: 4 bed/3 bath 3,400 sq ft house, 5,060 sq ft lot

Description: Open House Sun 2-5pm Nature living in the city. Beautifully country garden in front of this fully equipped home located in a peaceful residential area of Santa Monica. Close to shops, transportation, movie theaters, and upscale restaurants. Easy to bike ride to Venice beach, downtown Santa Monica, Third street promenade and Montana Ave. Best sunny whether and fresh ocean breezes. French doors and hardwood floors throughout. Great for entertaining. Two car garage. Just one block from the new whole foods store and Douglas Park, the most popular children's playground on the westside, and center for activities for families. One block away are two tennis courts open all day and lit at night for night time playing. Malibu beach just minuets away the playground of the Hollywood elite, attracts surfers, kayakers, and bathers as well. Of course world famous Santa Monica beach one the the most beautiful beach in the world along with Santa Monica pier the end of the road for Route 66.


Previous Purchase: 4/28/89 - $495,000

Listing History: 3/5/11 - $2,595,000

I think this house is wildly overpriced. Small lot, not the greatest location, house is old.

For comparison, readers will remember my last post about a property less than one block away that I did back in May 2009. 1024 23rd was a 4 bed/4.5 bath 3,500 sq ft house on a 6,118 sq ft lot. It was brand new construction and it sold in May 2009 for $2.425mm. Even if you argue that the buyer got a good deal due to timing, I don't think the market has moved up that much since that time. So what you have here is that this house on California is priced HIGHER despite the fact that it is slightly smaller, is on a smaller lot, has 1.5 fewer bathrooms, and it isn't even close to new construction!

Good luck delusional sellers.

Junk REO *Update 1*

I last featured this disaster at 1308 26th back in November 2010.

Previous Purchase: 4/15/04 - $698,000

They tried to short sale it in 2009 but then stated that the seller declared bankruptcy at the last minute and that there were three different lenders. Messy.

REO Listing History: 11/11/10 - $669,900

SOLD: 2/15/11 - $570,000

90403 Boomerang *Update 1*

I last featured the now upgraded 1030 Chelsea back in January when I said that I didn't think the house was a screaming bargain, but I also argued some younger couple might want to pay up a bit and avoid the headache of fixing something up.

Previous Purchase: 11/25/08 - $1,200,000

Listing History: 1/11/11 - $1,425,000

SOLD: 2/28/11 - $1,350,000

This house went into escrow after just 6 days on market so it certainly had a fair amount of appeal to someone right off the bat.