A Quality Realty

Anonymous said...

There is house North of Montana that is in foreclosure right now House is on Alta Avenue - it is a teardown with two bedrooms and two bathrooms. The balance of the mortgage is $1.4 million dollars. I humbly request that others on this board post the teardowns North of Montana that they know about.The reason why teardowns North of Montana are a good thing to watch carefully is that for all other types of westside property, people will argue as to what is really comparable - i mean some will argue a condo is worse or better than some other condo - even a completed house is very hard to compare to another completed house.The standard 7500 square foot lot north of montana is as close as it gets to a pure commodity - any of us that have followed SM closely for years can recognize the price trends today by looking at the vacant lots and teardowns.One other point - if we see a house sell for $5 million in September, it won't really tell us anything about the market - it just means there is another billionaire that wants to be in SM and doesn't care about he local market. Remember that Manhattan apartments in the $20 million range are selling rapidly even right now - someone who has a second home in Manhattan at that price will regard a third home in Santa Monica as an incredible bargain at only $5 million However, no one buys a vacant lot or teardown on impulse - it requires very careful thought and careful predictions of where the market will be in two years when a house is completed. so the pricing for teardowns and vacant lots may represent more of a careful analysis of the future while a $5 million house sold just shows a need for immediate gratification.Please don't flame me - i don't think any home is "worth" $5 million and i don't predict that we will see more sales at $5 million, All i am saying is that a group of sales at $5 million won't astound me. Whereas a group of sales of teardowns at top dollar would astound me.Comments?

August 31, 2007 6:29 PM

Uh oh: Balloon boy says “we did this for a show”

posted at 8:15 am on October 16, 2009 by Allahpundit
Share on Facebook | printer-friendly

This clip’s better than the one I posted in Headlines last night. Blitzer does follow up after the kid blurts out something about a show, and dad … gets awfully defensive. Maybe the kid simply meant that they built the balloon in the first place with an eye to appearing on some reality or science show? (Which might explain why the brothers were videotaping the backyard.) That makes no sense in the context of the question, admittedly, but that’s six-year-olds for you. On the other hand, after a long, traumatic day in which at least one of their kids outright lied to them about whether his brother was in the balloon or not, it’s … odd that the parents were holding full family media availabilities with CNN mere hours later, no?

To clarify one lingering ambiguity being kicked around in comments last night: The reason the parents didn’t speak up and tell anyone that there was no box/basket attached to the balloon while the media was still reporting that the boy might be trapped inside is that the basket was attached during the whole flight. There was a lot of confusion about that yesterday, but the cops finally said last night that it was still on there when the balloon crashed. So, yeah, the parents might genuinely have thought he was inside. Might.

êàòàëîã ôèðì