A bit of a yawner for a lazy Sunday, since most of us believe we'll see 2002/2003 (earlier?) pricing when all's said and done, at least on an inflation-adjusted basis, but some data points anyway. Not surprisingly, condos continue to make up the bulk of the rollbacks ...
There were 14 new properties listed in the last two weeks (as of today).
Of those, 6 were 2007 or prior rollbacks, and we're really starting to see some disparity in pricing (vs. prior levels).
SFRs:
1130 N. Wetherly Dr. - $2,795,000
3 + 4.5, 2545 sq ft
Last Sold: 2/06 - $2,940,000
(has played relist game for more than a year)
Condos:
9255 Doheny Rd. #806 - $2,895,000
2 + 2, 1845 sq ft
Last Sold: 1/07 - $3,500,000
(aka the "Matthew Perry" building; relist game for a year +)
874 Hammond #4 - $380,000
1 + 1, 757 sq ft
Last Sold: 3/07 - $420,000
(Short Sale; Also sold in the 2002-2003 time frame for low to mid-$200k)
1250 N. Kings Rd #303 - $489,000
2 + 2, 1134 sq ft
Last Sold: 3/07 - $500,000
740 N. Kings Rd #311 - $269,900
1 + 1, 664 sq ft
Last Sold: 8/08 - $323,000
7505 Hampton Ave #8 - $455,500
2 + 2, 952 sq ft
Last Sold: 1/06 - $470,000
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4 comments:
Are you sure the price on 1250 N Kings Rd #303 is $439k? Redfin is showing $489k.
Ah, yes, good catch - a typo on my part - post updated to reflect $489k. Thanks.
Insufficient discount on Kings Road. Try $425 and you will sell.
Another Rollin' Back SFR listed on 7/20/09:
1155 N. Fuller - $650,000 asking
3+1, 1472 sqft house/6636 sqft lot
Last Sold: 10/06 - $985,000
06/04 -$699,000
11/01 -$405,000
(Rollin' down the river to an early 2004/late 2003 price as a short sale, but who's the owner exactly--will full disclosure be forthcoming?)
Although listed a while ago, these two properties are also symptomatic of the boomdiada speculator mania that engulfed West Hollywood in 2006:
1050 N. Genessee - $699,000 asking
2+1, 1204 sqft house/6500 sqft lot
Last Sold: 9/06 - 1,015,000
(approved for demolition and construction of new units apparently).
1202 N. Detroit - $720,000 asking
Duplex, 2580 sqft house/6859 sqft lot
Last Sold: 6/06 - $999,000.
(apparently lots of flipping shenanigans here over the years) The eviction of 1202 Detroit's tenants made the front page of the West Hollywood Independent weekly.
Note that all three properties sit on "Big Valley/Ponderosa" sized land in the east end of apartment-dense West Hollywood and generally allow for the construction of 4/5 housing units.
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