Saturday, February 28, 2009

King(s) Me!

A quick, observational post on a Saturday. For those readers who have asked about the new Milano at Laurel condo building, stayed tuned. Lots going on with that one - requires a little more homework, but I'll have something up before the end of the weekend.

I did a quick search on Redfin - my favorite real estate site these days - for condos and townhomes priced between $300k and $1mm in WeHo.

177 results came back.

Of those, a whopping 12% (20) were units on Kings Road, including four buildings with multiple units for sale.

I usually don't drive up Kings Road, but just know it as "condo alley" (and for Kings Road Cafe!).

Maybe someone with more insight can share their views, but this looks like something we've seen during the still-early days of the real estate market decline. It's still all about location, location, location, and something about Kings Road seems to be making it a pawn in this game (sorry - too easy!).

4 comments:

Anonymous said...

When you consider that Dataquick only recorded 14 condo sales in all three WeHo zips last month:

http://www.dqnews.com/Charts/Monthly-Charts/LA-Times-Charts/ZIPLAT.aspx

It gives you an even better idea of the pain that's out there. 11 months inventory, and it's only February? Yikes!

As for Kings Road...I can't tell you how many times I've heard from fellow residents that prices in OUR building will never go down because we're "not like one of those crummy buildings over on Kings Road". To this day I'm not sure if the problem is location or the lack of architectural style.

BTW -- Thanks for finally giving us a WeHo-centric bubble blog, and for doing the legwork on the Milano. I can't wait!

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