RANCHO PK / W.LA 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
9 comments:
2247 Manning LA 90064
SFR 2+1, 1637 sq ft, $1365K, SOLD on 1/23/07, 6075 sq ft LOT
1637/6075 = .269(HF)Housing Factor
.269(HF) x $1365K(SP) = $367.2(HV) Housing Value
$367.2K(HV)/1637 = $224.3/sq ft(P/SQFToH)
1.0 - .269 = .731(LF) Land Factor
.731(LF) x $1365K(SP) = $997.8K(LV) Land Value
$997.8K(LV)/6075 = $164.2/sq ft(P/SQFToL)
224.3 + 164.2 = 388.5 (HPM) House Price Multiplier
2206 Manning LA 90064
SFR 3+2, 1975 sq ft, $920K, SOLD on 3/2/07, 6750 sq ft LOT
1975/6750 = .293(HF)
.293 x $920K = $269.6K(HV)
$296.6K/1975 = $136.5/sq ft(P/SQFToH)
1.0 - .293 = .707(LF)
.707 x $920K = $650.4K(LV)
$650.4K/6750 = $96.4/sq ft(P/SQFToL)
136.5 + 96.4 = 232.9(HPM) House Price Multiplier
(HPM)232.9/388.5(HPM)= .599(RBX) Rabindex -40.1% in 1.5 months!
Any other observations about Rancho Park out there?
Last month, according to Melissa Data, the number of sales and average selling prices were:
5/06 27 sales @ $905K
5/07 25 sales @ $1049K
Sales -7.4%
Price +15.9%
2728 Coolidge, LA 90064
3+1, 1168 sqft, SOLD on 1/17/07 for $725K, 5304 sqft LOT
1168 / 5304 = .220 (HF)
.220 x $725K = $159.5K (HV)
$159.5K / 1168 = $136.6/sqft (P/SQFToH)
1.0 - .220 = .780 (LF)
.220 x $725K = $565.5K (LV)
$565.5K / 5304 = $106.6/sqft (P/SQFToL)
136.6 + 106.6 = 243.2 (HPM) House Price Multiplier
2700 Coolidge, LA 90064
4+1, 1597 sqft, Sold on 2/8/07 for $699K, 5940 sqft LOT
1597 / 5940 = .269 (HF)
.269 x $699K = $188K (HV)
$188K / 1597 = $117.7/sqft (P/SQFToH)
1.0 - .269 = .731 (LF)
.731 x $699K = $510.9K (LV)
$510.9K / 5940 = 86.0/sqft (P/SQFToL)
117.7 + 86.0 = 203.7 (HPM) House Price Multiplier
203.7 / 243.2 = .838 (RBX) Rabindex -16.2% in 3 weeks...
According to Melissa Data, just in, zip code 90064:
(6/2006) 26 sales, Average Selling Price $1032K
(6/2007) 26 sales, Average Selling Price $891K
Sales 0.0%
Average Selling Price -13.7%
November was a bad month according to Melissa Data in the Cheviot Hills/Rancho Park A. looking at Total Sales Volume (TSV) Year over year (YOY) we find:
LA 90064
$19,538K on 22 sales @ $888K(2006)
$8,409K on 9 sales @ $941K (2007)
-$11,067 (-57%)
For the month of January 08', only 9 sales for ALL of Rancho Park, WLA.... According to Dataquick:
8 houses and 1 condo
Credit Crunch is taking it's toll, here.
Found on Zillow this morning:
10548 Almayo 90064
Built 1931, 2Br + 1Ba, 1364 sqft, 5265 sqft lot
SOLD 1/29/08 for $744K ($545/sqft)
compared to:
10450 Almayo 90064
Built 1928, 3Br + 1Ba, 1569 sqft, 6550 sqft lot
SOLD 9/27/07 for $1275K ($812/sqft)
4 months earlier..
10450 Almayo is a 3Br, slightly bigger house and lot.Is it worth over $500K more?
Perhaps, we have rolled back prices here to early 2004, or late 2003...
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