Tuesday, May 1, 2007

BRENTWOOD MELTDOWNS

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14 comments:

latesummer2008 said...

1338 Longworth, LA 90049
3+3, 2000 sqft, SOLD 5/19/06 for $2395K, 8964 sqft LOT

2000 / 8964 = .223 (HF) Housing Factor
.223 x $2395K = $534.1K (HV) Housing Value
$534.1 / 2000 = $267.0 / sqft (P/SQFToH)

1.0 - .223 = .777 (LF) Land Factor
.777 x $2395K = $1860.9K (LV) Land Value
$1860.9K / 8954 = $207.6 / sqft (P/SQFToL)

267.0 + 207.6 = 474.6 (HPM) House Price Multiplier


1320 Longworth, LA 90049
4+2.5 + Pool, 2650 sqft,SOLD on 4/18/07 for $2100K,
9845 sqft LOT

2650 / 9845 = .269 (HF)
.269 x $2100K = $564.9K (HV)
$564.9K / 2650 = $213.2 / sqft (P/SQFToH)

1.0 - .269 = .731 (LF)
.269 x $2100K = $1535.1K (LV)
$1535K / 9845 = $155.9 / sqft (P/SQFToL)


213.2 + 155.9 = 369.1 (HPM) House Price Multiplier

369.1 / 474.6 = .777 (RBX) Rabindex (-22.3%) in 11 months

latesummer2008 said...

Any other observations out there about Brentwood ?

Anonymous said...

11912 Gorham Ave #3, LA 90049
3 bed / 3 bath / 2121 sq ft

Sold $1,010,000 on 01/11/06

Sold $858,122 on 03/13/07

-15% in 14 months. Ouch.

latesummer2008 said...

Exact numbers like $858,122 probably means it was foreclosed on by the bank(REO). but it is still a sale and nobody bought it at the trustee sale. It will be interesting to see how much it eventually sells for, once the bank lists it for sale.
Good Work !

Joe said...

2789 MANDEVILLE CANYON RD, Brentwood, CA 90049.
Sold 12/30/05 1.7M
Listed 4/26/07 1.585M

latesummer2008 said...

Joe,

It will be interesting to know if and what the Mandeville Canyon Property sells for. Looks like they are going to take a big hit. Maybe you can follow it and let us know.

Good Work !

latesummer2008 said...

Last month, according to Melissa Data, the number of sales and average selling prices were:

5/06 34 sales @ $1237K

5/07 48 sales @ $1334K


Sales +41.1%

Price +7.8%

latesummer2008 said...

According to Melissa Data, just in, zip code 90049:

(6/2006) 27 Sales, Average Selling Price $1503K
(6/2007) 33 Sales, Average Selling Price $1034K

Sales +22.2%
Average Selling Price -31.2%

latesummer2008 said...

More bad news for Brentwood according to Dataquick. City and County Chart for the month of July shows median prices:

(2006) $1255K
(2007) $1067K on 44 sales

-14.94%

latesummer2008 said...

Just more bad news for Brentwood, I'm afraid. According to Dataquick's CA City and County Chart for August:

(August 2006) $1075K median price
(August 2007) $935K median price on 28 sales

-13.07%

latesummer2008 said...

October numbers are in from Melissa Data for 90049. And they are Baaad:

$37,774K Total Sales Volume (2006)
$18,864K Total Sales Volume (2007)

-18,910K (-50.0%)

latesummer2008 said...

Brentwood was hit hard last month according to DataQuick. By looking at the month of November, year over year (YOY), we see in the CA County and City Chart:


Median Prices

$1410K (2006)
$644.5K (2007)on 22 sales
-755.5K (-54%)....Wow!!!!

latesummer2008 said...

Looking on Zillow this morning I found this interesting sale:

1253 Casiano Rd 90049
Built 1980, 3br + 4ba, 2924 sq ft, 10,454 sqft lot,
SOLD 0n 2/20/08 for $1,210K ($414/sqft)

That is quite a drop when compared to:

1248 Casiano Rd 90049
Built in 1959, 3br + 4ba, 3038 sqft, 25,360 sqft lot
SOLD on 12/28/07 fo $1,985K ($653/sqft)

$414 / $653 = (-37%) in 3 months..

Granted it is bigger lot, but is their really that much difference between the two?

Also, 1248 Casiano Rd 90049 sold:
(12/28/01) for $1,540K..

Perhaps we have rolled back to 04' if not late 03'......

latesummer2008 said...

Brentwood 90049 got smacked according to the latest Melissa Data numbers for March:

(March 2007) 43 sales @ $1117K = $48M
(March 2008) 12 sales @ $1044K = $12.5M

12.5/48 = .26 (-74%) in Total Sales Volume !!

And 2007 was not a great year.....