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Empty McMansion #4
2008-03-03 15:00:00
322 Leda Ln. Asking Price $1,999,000 ::: Sq-ft 4,450 Purchased Price $779,000 ::: Lot Size 9,840 Purchased Date 11/03/2006 ::: Beds 5 Days on Redfin 45 ::: Baths 4.5 $/Sq-ft $449 ::: Year Built 2008 20% Downpayment $399,800 ::: Area Santa Anita Income Required $499,750/yr ::: Type SFR Est. Payment* $10,107/month ::: MLS# W08008865 *Estimated monthly payment assume 20% down, 30-yr fixed @ 6.50% Welcome back to another week at Arcadia Housing Blog. Today I will continue to document yet another empty, equity burning McMansion. Like #3 from last week, this brand new construction is also listed ...
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Inventory and Market Report - 3/1/08
2008-03-02 15:00:00
Zip Codes: 91006, 91007 Current Market Listings as of March 1, 2008 Properties for Sale: 263 (+16)* Median Listing Price: $779,000 (+0%)* Weekly Foreclosure Update Properties in Foreclosure: 14 (+3)* Properties in Pre-Foreclosure:61 (-1)* *+/- is compared to previous week’s data. January sales figures are in: Number of homes sold: 32 (+3 from Dec. 2007) Median sales price: $687,500 (-13% from Dec. 2007) In one month ...
More About: Report , Inventory

I am Renter
2008-03-01 15:00:00
There are renters and home owners. I am currently a renter. Why? Because ? 1) Market prices are way over and above the fundamentals 2) It?s cheaper to rent than to buy a home of similar caliber 3) No strings attached I am a renter and I?m not ashamed to declare it. In the olden days, homeowners were well ...
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Empty McMansion #3
2008-02-29 15:00:00
415 W. Palm Dr. Asking Price $1,999,000 ::: Sq-ft 4,475 Purchased Price $765,000 ::: Lot Size 9,480 Purchased Date 08/01/2006 ::: Beds 5 Days on Redfin 7 ::: Baths 4.5 $/Sq-ft $447 ::: Year Built 2008 20% Downpayment $399,800 ::: Area Baldwin Stocker Income Required $499,750/yr ::: Type SFR Est. Payment* $10,107/month ::: MLS# A08026688 *Estimated monthly payment assume 20% down, 30-yr fixed @ 6.50% Today marks the 3rd day of our Empty McMansion series and this one just came on the market last week. Compared to the last two properties that needed over $500k for ...

Empty McMansion #2
2008-02-28 15:00:00
1103 S. 8th Ave. Asking Price $2,880,000 ::: Sq-ft 7478 Purchased Price $750,000 ::: Lot Size 27,063 Purchased Date 04/19/2004 ::: Beds 7 Days on Redfin 113 ::: Baths 7.5 $/Sq-ft $385 ::: Year Built 2007 20% Downpayment $576,000 ::: Area Near Monrovia Income Required $720,000/yr ::: Type SFR Est. Payment* $14,561/month ::: MLS# A07162003 *Estimated monthly payment assume 20% down, 30-yr fixed @ 6.50% “Brand New Luxurious Estate at Prestigious location in Tree Street.” Riiight. Since when did 8th Street become a prestigious location? The seller would certainly want potential buyers to think that it’s prestigious when ...
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40+ Excellent Freefonts For Professional Design [Digg]
2008-02-25 18:27:00
40+ high quality type faces for display and body type. Lots of cool faces that could be used in your next web or print design project. Enjoy.
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Normal Price Reductions
2008-02-19 15:00:00
35 W. Norman Ave. Asking Price $1,180,000 ::: Sq-ft 2,854 Purchased Price $1,269,000 ::: Lot Size 0.42 acres Purchased Date 07/27/2006 ::: Beds 4 Days on Redfin 92 ::: Baths 3.5 $/Sq-ft $413 ::: Year Built 1926 20% Downpayment $236,000 ::: Area Santa Anita Income Required $295,000/yr ::: Type SFR Est. Payment* $5,966/month ::: MLS# H07166852 *Estimated monthly payment assume 20% down, 30-yr fixed @ 6.50% This is listed as a single family residence, but from the description it’s really a triplex with an office and guest house in the back. From the view on Google maps, ...
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Flipper Turn Sucker
2008-02-18 15:00:00
807 W. Camino Real #B Asking Price $569,900 ::: Sq-ft 1,883 Purchased Price $481,500 ::: Lot Size 2,047 sqft Purchased Date 01/11/2008 ::: Beds 3 Days on Redfin 4 ::: Baths 2.75 $/Sq-ft $303 ::: Year Built 1986 20% Downpayment $113,980 ::: Area Near TC Income Required $142,475/yr ::: Type Att. Townhouse Est. Payment* $2,881/month ::: MLS# A08022540 *Estimated monthly payment assume 20% down, 30-yr fixed @ 6.50% Every time I think people finally see the light and realize the US housing market is going down the drain, someone always surprises me. Here we have yet ...
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Inventory and Market Report - 2/16/08
2008-02-17 15:00:00
Zip Codes: 91006, 91007 Current Market Listings as of February 16th, 2008 Properties for Sale: 248 Median Listing Price: $755,000 Foreclosure Updates as of February 16th, 2008 Properties in Foreclosure: 10 (+2*) Properties in Pre-Foreclosure:70 (+4*) *Compared to previous week. In 2000, the estimated median value of homes and condos in Arcadia was $393,700. Based on U.S. Census data, that figured ballooned to ...
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$952/sq-ft in 91006
2008-02-16 15:00:00
1431 S. Santa Anita Ave. Asking Price $1,149,000 ::: Sq-ft 1,207 Purchased Price $816,000 ::: Lot Size 19375 sqft Purchased Date 02/17/2004 ::: Beds 3 Days on Redfin 150 ::: Baths 1 $/Sq-ft $952 ::: Year Built 1946 20% Downpayment $229,800 ::: Area Santa Anita Income Required $287,250/yr ::: Type SFR Est. Payment* $5,809/month ::: MLS# W07137114 *Estimated monthly payment assume 20% down, 30-yr fixed @ 6.50% This is the most over priced house in Arcadia and probably the most over priced house I’ve ever seen. When I decided to sort by $/sqft in Redfin for this ...

To buy or not to buy?
2008-02-15 15:00:00
That is the question. That may not be Hamlet’s question, but that is certainly the question looming over potential buyers as they try to decide whether or not to purchase a home right now. I’ve said before that comparable rents is a key indicator of market fundamentals and I still think that holds true today. To ...
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Update: Golden McNugget
2008-02-14 15:00:00
Today we have clear evidence that Arcadia is not immune from the market forces and that the flip-happy mentality that’s been free flowing for years is coming to a painful end. It’s Valentine’s Day, but there’s no love for this seller. Last month I profiled a McMansion that was a failed flip. Things haven’t gotten ...
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Open House Sunday Recap
2008-02-13 15:00:00
There are many homes on the market in Arcadia. If you don’t believe me, just drive through any neighborhood on a Sunday afternoon and you will see as I did. There were “Open House ” signs on every corner, some with more than one sign on a corner and others with signs on all four corners. ...
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Santa Anita Races
2008-02-12 15:00:00
Despite all my years in Arcadia, I’ve never been to a race at the Santa Anita Race Track. I hear it’s fun and quite exciting to cheer on your horse all the way to the finish line. The thrill of a race and potential to strike it rich on a lucky bet is more than ...
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What Created the Housing Bubble?
2008-02-11 15:00:00
A financial bubble by definition is the unsustainable growth of a market due to deviations from certain market fundamentals. These bubbles, much like the ones your 5-yr old blows out in the backyard, will pop. That?s just the nature of the beast. Today we will examine several major contributing factors to the expansion of the ...
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Inventory and Market Report - 2/9/08
2008-02-10 15:00:00
Zip Codes: 91006, 91007 Current Market Listings as of February 9th, 2008 Properties for Sale: 253 Median Listing Price: $749,000 Median sales price for quarter ending Jan. 2008: $650,000 December 2007 Sales Report Properties Sold: 29 Median Price: $790,000 Foreclosure Updates as of February 9th, 2008 Properties in Foreclosure: 8 Properties in Pre-Foreclosure: 66 Inventory has not changed much this past week and plenty of ...

Interest Rates vs. Purchase Price
2008-02-09 15:00:00
Everyone except those in denial knows that home prices are going to take a tumble crash until it?s back to fundamental normals. Great news for buyers on the sidelines right? Well, what about the offset effects of rising interest rates? Rates have been at historic lows the past few years and it looks like Bernanke ...
More About: Analysis , Interest Rates , Price , Interest

Out and About
2008-02-08 15:00:00
Last week’s find - $900,000 Dirt, was so outrageous I decided to check out the property in person. Time permitting, I will attempt to check out properties on a weekly basis and share my findings here. There are some things you just can’t see or tell from a Redfin or ZipRealty listing. Here’s a better ...

Flipping Woes on Camino
2008-02-07 15:00:00
405 E. Camino Real Ave Asking Price $548,000 ::: Sq-ft 812 Purchased Price $505,000 ::: Lot Size 5,040 Purchased Date 06/08/2007 ::: Beds 2 Days on Redfin 110 ::: Baths 1 $/Sq-ft $675 ::: Year Built 1947 20% Downpayment $109,600 ::: Area Santa Anita Income Required $137,000/yr ::: Type SFR Est. Payment* $2,771/month ::: MLS# A07153216 *Estimated monthly payment assume 20% down, 30-yr fixed @ 6.50% This seller has an astounding asking price of $675/sq-ft for this teeny, tiny 812 square foot house on a postage stamp sized lot. That’s about the size of two two-car garages, ...
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Flip ?n Flop
2008-02-06 15:00:00
725 Tiffany Terrace Asking Price $998,000 ::: Sq-ft 2,777 Purchased Price $1,038,000 ::: Lot Size 8,625 Purchased Date 06/05/2007 ::: Beds 4 Days on Redfin 101 ::: Baths 3 $/Sq-ft $359 ::: Year Built 1985 20% Downpayment $199,600 ::: Area Near Monrovia Income Required $249,500/yr ::: Type SFR Est. Payment* $5,046/month ::: MLS# A07156761 *Estimated monthly payment assume 20% down, 30-yr fixed @ 6.50% Here we have another flip gone wrong. It was very tempting for speculators to take part in the bubble when housing prices were ballooning at the alarming rate of yesteryears. This flipper was ...
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The Future of Real Estate Agents
2008-02-05 15:00:00
Do you take pride in your work? Dan & Joy Blanding of REMAX Realty obviously don’t because their downed RE sign has been in front of this house for at least 4+ months. It was removed temporarily and then resurfaced in the exact same position about a week later. Do you make people angry? Do you ...
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Not So Peachy Anymore
2008-02-04 15:00:00
***Update*** This listing was modified today to include a slightly lower asking price of $679,000. You think the realtor/seller saw our profile and decided they need to do something to move this property? The direction is correct; the magnitude is not sufficient. 517 Peachtree Lane Asking Price $699,900 ::: Sq-ft 1,492 Purchased Price $825,000 ::: Lot Size 8,900 Purchased Date 08/29/2006 ::: Beds 3 Days on Redfin 139 ::: Baths 2 $/Sq-ft $469 ::: Year Built 1965 20% Downpayment $139,980 ::: Area Near Monrovia Income Required $174,975/yr ::: Type SFR Est. Payment* $3,539/month ::: MLS# 22099204 *Estimated ...

Inventory and market report for Arcadia, CA
2008-02-03 15:00:00
Zip Codes: 91006, 91007 Current Market Listings as of February 2nd, 2008 Properties for Sale: 256 Median Listing Price: $749,000 December 2007 Sales Report Properties Sold: 29 Median Price: $790,000 Foreclosure Updates as of February 2nd, 2008 Properties in Foreclosure: 8 Properties in Pre-Foreclosure: 64 Although many local Realtors continue to claim that Arcadia ’s housing market is still strong due to high demand, check ...
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Who is SavedByGrace?
2008-02-02 15:00:00
Since I am the primary author for this blog, I owe it to my readers to disclose (at least in part) my background. First and foremost, privacy is paramount. I will share the following facts about me, but fully intend to remain anonymous mainly for self-preservation and safety concerns. I have lived in Arcadia and its ...

Weekly News Recap 1/31/08
2008-02-01 15:00:00
Every Friday I will provide a short list of news headlines that reflect the current state of our housing market; either locally, statewide or nationally. By looking back at these headlines we can analyze the current state of the market and project where it is heading from here. Just in case you missed it, SavedByGrace had ...
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A Load of Bull
2008-01-31 15:00:00
There are facts and there are myths. There are truths and there are lies. There are bears and there are bulls. There are some lies that select members of the financial and real estate industry would love for you to accept as fact. Real estate agents, brokers, lenders, appraisers, contractors, bankers and anyone else who profits from a ...
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Golden McNugget
2008-01-30 15:00:00
6709 N Golden West Ave. McMansion alert! McMansion alert! McMansion alert! Here’s another McMansion up for sale. I can’t imagine why anyone would like the look of a house that’s way overbuilt on its lot. The dominating three car garage at the front of the house is so 1980s. According to one of our readers, McMansions are ...

Macbook Pro. Make it 40?f-50?f Cooler! [Digg]
2006-10-08 20:20:00
Rokem modified some .kext files to make Macbook Pro's fans run faster. It makes the machine 40?f-50?f cooler! Only 5-10 mins battery life shorter!
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