August 24, 2006 at 4:38 PM #7297LABenParticipant
For those of you unfamiliar with Los Angeles, Manhattan Beach is one of the most affluent cities in LA. It’s one of those coastal cities where prices are never supposed to go down…
2323 N Herrin, Manhattan Beach, 90266
*** The seller has decided to use the auction method to sell the property. Please note the listing agent has no further information in regards to the auction. The seller requested this language be put in the MLS***: “HOME FOR AUCTION — Inspection Saturday 8/26 and Sunday 8/27, 12 pm – 5pm. Home will be sold Sunday night the 27th to HIGHEST AND BEST BIDDER. CALL FOR FREE 24HR RECORDED INFO AT 310-341-3453. Built 1970, Remodeled 2001 with Copper Piping, Kitchen upgrade, including all new Appliances, new flooring, upgraded Electrical. In 2006 new Lighting throughout, Bathrooms refinished, New landscape front and back. Valued at $1,348,450 starting Bid is $967,975 or best Reasonable Offer”.August 24, 2006 at 4:40 PM #33069waiting hawkParticipant
Someone tell that owner that RE never goes down in those areas and to take that auction off the block!August 24, 2006 at 5:42 PM #33089PerryChaseParticipant
Another bunch of bull sales gimmick to drum up traffic. So many sellers say auction and that they’ll take the best offer by friday xx/xx/06. When the time comes around, the property is still sitting unsold. Then the seller lost all credibility with his potential buyers.
If I were to buy, I’d put in one low-ball offer and that’s it.August 24, 2006 at 5:47 PM #33094(former)FormerSanDieganParticipant
Actually in the last downturn areas like Manhattan Beach and Santa Monica suffered the worst of the brunt. But what do I know, I was in Kansas at the time.August 24, 2006 at 5:56 PM #33097powaysellerParticipant
This property is not listed on foreclosure.com. Without a pre-foreclosure or foreclosure status, it is obviously a sales gimmick.
Manhattan Beach has 18 pre- and foreclosure properties.
No area is immune.
Next week, after my kids return to school, I will do a study of beach communities, unless one of our realtors has the information for us before that. I am interested in the declines so far,and what happened in the last downturn to areas within 3 blocks of the beach.
I am also interested in how much faster builder tract subdivisions lose their value. I was told that anything east of the I-5 is considered sub-par by long-time San Diego residents. The cool properties are west of the I-5. Can anyone confirm that? This friend said exceptions are for old money areas of Poway,e tc. She said newbies to San Diego flock to the McMansions in San Marcos, Escondido, Carmel Valley, but they are nothing special, and native San Diegans shun these places. Any comments?
An area in Poway, called the Grove, is like that. Large homes on 1/2 – 1 acre lots or larger, priced starting at $1.5 mil. Sterile, boring neighborhood. Every house looks the same practically. Palm trees here and there,but no character, no big trees. I would NEVER even rent in the Grove. The gate is so pompous. My friend had her purse stolen one morning, from the top of her car. What good was the gate? Give me Green Valley, a 1970’s neighborhood, with architecturally distinct homes, custom homes, no two alike, any day of the week. That is my dream neighborhood. Trails, a creek, lots of large trees, large lots. Never could see why anybody would buy a hey-I=look-just-like-you type of tract house. Especially when they are so close together. Even the ones far apart are hideous. I hope builders will get back to being craftsmen, instead of slapping together a bunch of wood without any creativity at all. Boring boring boring. My pet peeve is builder tract homes. A real dishonor to the name “builder”.August 24, 2006 at 6:20 PM #33107(former)FormerSanDieganParticipant
The cool thing about West of I-5 is that it is literally cooler. In the summer the temperature is 1-2 degrees higher per mile as you move inland, compared to the coast.
e.g. 78 degrees at Point Loma or Mission Beach
83 degrees in Clairemont
87 degrees at Qualcomm Stadium
94 degrees in La Mesa
100 degrees in El Cajon
Yeah, it’s definitely cooler west of I-5.
As a former resident (who was first in SD in 1992) I consider areas west of I-5 such as Point Loma, La Jolla, Del Mar, Solana Beach, Pacific Beach to be more desireable than Clairemont, Kearny Mesa, North Park, Normal Heights, La Mesa, El Cajon, Lemon Grove.
However, there are notable exceptions, such as Mission Hills (East of I-5) but very nice and some parts of lower Ocean beach (West of I-5), mostly nice, but with some crappy pockets.August 24, 2006 at 6:24 PM #33103PerryChaseParticipant
True, west of I5 is where the old money is except for Rancho Santa Fe, Fairbanks Ranch and Mission Hills.
Powayseller, I agree with you on houses, but not everyone can afford an architect-built house. That’s just too costly and not realistic.
Mass home builders provide good products at good prices. We just need more low-end, higher density, better planned communities (outside the home, not just inside), and public transport.
I prefer old cities like New York and Paris, but for new planned new cities, I like Singapore. The housing is affordable (built by the government) well maintained and pretty decent for the common man. The home ownership rate there is 85%, the highest in the world. To me, Singapore is very much like San Diego but with higher density. The average person lives in decent condos and rich people live in luxury towers or in SFR.August 24, 2006 at 7:04 PM #33113DanielParticipant
Singapore has the best government in the world, bar none. The country is run like a business enterprise.August 24, 2006 at 9:26 PM #33138barnaby33Participant
Its really really eerie to hear people hold up singapore as a model of what a good government is, seriously eerie. Their laws are draconian. Most Americans couldn’t stand living in that place. Sure its clean, because they cain you if you aren’t. Sure its peaceful, there are ghurkas there to knock sense into people if they get out of line. Sure there is housing, its all govt built (talk about govt meddling in your personal life). Oh there is even a govt agency to help ugly people find spouses. Lovely place, simply stunning.
I hate being a flag waving American, that kind of jingoism really rankles me. On the other hand this place offers alot of freedom while still providing a structure most people can live within. Caining wouldn’t be a bad idea though…
JoshAugust 24, 2006 at 9:33 PM #33139CAwiremanParticipant
We rent in Carmel Valley and we were able to get through the whole summer without turning the airconditioner on. Before that, we lived in Mira Mesa and it was breezey where we lived, though I turned on the A/C periodically. But, when we drive through Poway in the summer ITS BRUTAL without the A/C on in the car.
This is not to slam Poway. Aside from the hotter temperatures, we love the area and were tracking property there for a awhile. (we have freinds we love to visit there and my wife used to work in the area).
But, if we can afford to buy a place closer to the coast in 3 to 5 years, we’ll do it despite the higher premium.August 24, 2006 at 9:35 PM #33140CAwiremanParticipant
duplicateAugust 24, 2006 at 9:43 PM #33145DanielParticipant
Point taken. I’m not saying it’s for everyone. But I like it a lot. Businesses like it a lot, too. There isn’t much freedom to spit on the sidewalk, but it takes you only half an hour to open up a new business. By most measures of quality of life (education, health, crime, corruption), it’s way up there. Should we do the same here? Definitely not. It’s not in this country’s spirit. But I can still dream of it, can’t I?August 24, 2006 at 10:17 PM #33148greekfireParticipant
Powayseller – I have also heard about properties west of I-5 being more of a premium. I think it is part perception, part reality, and part marketing hype.August 25, 2006 at 7:31 AM #33161lamoneyguyParticipant
Valued at $1,348,450 starting Bid is $967,975 or best Reasonable Offer
Who is to say what it is “valued” at? Isn’t that up to the market? Apparently he has been unable to sell it at that price, so that makes me think that’s not its true value. Also, the starting bid is still an awful large amount of money. I’m sure the seller would be happy to unload at that price.
Also, the property does not appear on zillow. When you put the address into google maps, you get pointed to the space between two homes that have different addresses. Weird.August 25, 2006 at 7:38 AM #33163carlislematthewParticipant
Who is to say what it is “valued” at? Isn’t that up to the market? Apparently he has been unable to sell it at that price, so that makes me think that’s not its true value.
I agree. I’ve seen MANY people say things like, “I sold my house at 5% under market”. Uhhh, no. If that’s what you were *able* to sell your house at, in that momement in time, then that is what the market value was.
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