Wednesday, January 30, 2008

The Sunny Side of the Street

Here we have contestant #1

And now a warm EN welcome for contestant #2

Confused? No, these are two "identical" houses. Well not really identical, you see in southern California it is the right and duty of all homeowners to put their indelible stamp of uniqueness on each house they touch. Sure they are steps away from each other, sure they share floor plans but some homes are more special than others. 2886 LaPlata is $50,000 less special than 2865 LaPlata. Lets see why:
Turns out Relitters® are right about one thing, location does matter.
Apparently a "backyard" 12 ft x 50 ft against the public golf course is worth something.

What about sales history?
2886 Sold new 10/11/2000: $356,000
2865 Sold new 05/14/2001: $416,000
According to Zillow both are down about $100,000 from last spring. For once, call it an accident, Zillow is probably right. Still both are probably $100k still too high for the market. The owners have got to be looking at the trend. They've "lost" $100k in the last 10 months and they aren't stupid, they see another $100k in the next 10 months.

7 comments:

chickenlittle said...

Is it just the perspective or does house #2 have zero driveway space?

Sweet Cashback said...

These houses are the MURST cookie cutters.....

Sweet Cashback said...

Going back to you pay for what you use.

They should create some gigantic GPS based driving/parking calculation system that sends you a bill every month for driving and parking in the public realm.

Germany is leading the way with that type of system for trucks on highways......

Rob Dawg said...

Yep, zero driveway. What do you want for $700k?

Peripheral Visionary said...

I think it is entirely possible that we will see a return to the ghost towns of yore. Probably not in San Diego or Los Angeles proper, but some of the more remote communities. Densely built cookie-cutter housing that is light years from nowhere, makes absolutely no sense.

What some people do not understand is that the record high vacancy rates in some of the hardest-hit communities are not going to take a long time coming down, they are not coming down, period. Banks renting bulldozers to plow homes under before we are done with all of this.

Curious said...

Either #1 raised their price today, or #2 took another 30k haircut today.

#1 shows a price of $749K, #2 is $669K.

And they're both ugly on super tiny lots. 12x50 backyards? Ick.

I can't see the location of #2 on your map and I'm too lazy to google/mapquest it, but if #2 is right next to the community tennis courts, I'd be PAYING somebody to live in it! I can't imagine how annoying the thwack of tennis balls 12-16 hours per day would be.

unbelievable said...

House #1 has a 5000 sf lot

House #2 has a 1 sf lot