CENT CTY / CHEVIOT MELTDOWNS
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Desert Allegory
By Mort Rabinowitz
The Wedding Couple
By Mort Rabinowitz
Female Nude #2
By Mort Rabinowitz
Abstract #1
Mort Rabinowitz
6 comments:
Not too many houses in Century City. Here is a juicy CONDO Meltdown:
2160 Century Park E. Unit #111, LA CA 90067
2+2, 1097 sqft, SOLD on 11/14/06 for $675K, $615 / sqft
2160 Century Park E. Unit#711, LA CA 90067
2+2, 1097 sqft, SOLD on 2/21/07 for $530K, $483 / sqft
483 / 615 = .785 (RBX) Rabindex (-21.5%) in 3 months!
Also 7th floor versus 1st floor...
Any other observations about Century City ?
2131 Century Park Ln #201 LA 90067
2+2, 1150 sqft, SOLD on 12/15/06 for $840K, $730 / sqft
2131 Century Park Ln #405 LA 90067
2+2, 1301 sqft, SOLD on 2/21/07 for $782.5K, $601 / sqft
601 / 730 = .823 (RBX) Rabindex (-17.7%)
in just over 2 months
Just added Cheviot Hills to the blog. Here goes the first ones:
10625 Butterfield Rd LA 90064
3+3, 2881 sq ft, SOLD on 11/2/06 for $1606K, 6250 sqft LOT
2881 / 6250 = .461 (HF)
.461 x $1606K = $740.3K (HV)
$740.3K / 2881 = $257.0 / sqft (P/SQFToH)
1.0 - .461 = .539 (LF)
.539 x $1606K = $865.7K (LV)
$865.7 / 6250 = $138.5 / sqft (P/SQFToL)
257.0 + 138.5 = 395.5 (HPM) House Price Multiplier
10640 Butterfield Rd LA 90064
2+1, 1500 sqft, SOLD on 5/24/07 for $899.4K, 6450 sqft LOT
1500 / 6450 = .232 (HF)
.232 x $899.4K = $208.6K (HV)
$208.6K / 1500 = $139.1 / sqft (P/SQFToH)
1.0 - .232 = .768 (LF)
.768 x $899.4K = $690.8K (LV)
$690.8K / 6450 = $107.1 / sqft (P/SQFToL)
139.1 + 107.1 = 246.2 (HPM) House Price Multiplier
246.2 / 395.5 = .622 (RBX) Rabindex (-37.8%) in 7 months
Another House of interest
10637 Northvale LA 90064
3+2, 1435 sqft, SOLD on 3/7/07 for $820K, 6230 sqft LOT
1435 / 6230 = .230 (HF)
.230 x $820K = $188.6K (HV)
$188.6K / 1435 = $131.4 / sqft (P/SQFTofH)
1.0 - .230 = .770 (LF)
.770 x $820K = $631.4K (LV)
$631.4K / 6230 = $101.3 / sqft (P/SQFToL)
131.4 + 101.3 = 232.7 (HPM) House Price Multiplier
LOT prices appear to be dropping in value...
Last month according to Melissa Data, the number of sales and average selling prices in 90067 were:
5/06 4 sales @ $1003K
5/07 7 sales @ $831K
Sales +75.0%
Price -17.1%
According to the LA Times Southland Home Prices (6/24/07):
LA/Century City 90077
Condos dropped (YoY)
10 sales, $1025K median price, -21.2%
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