According to CNN, “The housing market hasn’t bottomed out yet. For the third quarter, the closely-watched S&P Case-Shiller national home-price index fell 16.6%, and experts are predicting further declines. Of the top 100 markets, here are 10 with the worst forecasts.” And out of those 10, 8 of them are in California. This isn’t news … Continue reading 8 out of 10 Worst RE Markets for 2009 in California
When IrvineRenter approached us to write a review about his book I almost said no. Although I still follow the local housing market closely I really didn’t have the time nor energy to keep up with all the housing blogs. A week or so passed and the book came in the mail and just sat … Continue reading The Great Housing Bubble
Things have not improved. Our buddies are Meryll, once snotty and too important to hang out with us, are now asking for employment applications. That is on top of the phone calls we keep getting from ex-Lehman guys. Anyways, this is a great summary of the current housing situation. Enjoy! Home values plunge in Southern … Continue reading Quick Update- August 2008
First of all, I want to apologize to everyone for not blogging the last couple of days. A crisis had erupted at work and we’re all scrambling to keep the company from collapsing. Some of you know that I work for a real estate development firm. Unlike public giants such as KB Homes or Lennar, my … Continue reading Crisis on the Homefront
We are currently looking for 1-2 more authors that would like to write for AHB. It can be once a week, once a month or even daily (if that interests you). Please email me if you’re interested: thearcadian@arcadiahousingblog.com.
On August 8th, 2008, we received the following comment from “bwrealestate@yahoo.com”. I can only guess that he/she is a Realtor: You all are idiots, I have a buyer for this property…and no way to contact you. Great idea, complain, complain…but offer and do nothing effective. Thanks Your worthless. The comment was left on my 300 … Continue reading It’s Official: AHB is Worthless
Let’s forget housing for a weekend. Get off the internet, turn on NBC and root for your country.
For those who enjoy the Victorian style homes, here’s a special one; a 4,693sf single story property sitting on .41 acres. It was remodeled in 2002 and it looks to be in great condition inside and out. 1910 S 2nd Ave. Arcadia, CA 91006 Price: $1,380,000 ($294/sf) Beds: 4 Baths: 4 Sq. Ft.: 4,693 Lot … Continue reading 13 years of depreciation
Condos and townhomes are attractive to home buyers because they offer more living square footage per dollar and generally require less exterior maintenance. This is perfect for those who have no desire to maintain a 3,000sf yard or worry about landscaping. Of course, the responsibility of maintenance in condos is paid through HOA fees; so … Continue reading Evaluation of Townhomes
We snuck into San Marino last night to check out Lacy Park’s annual fireworks show. From what I’ve heard, there are residents who camp out for the event 24 hours in advanced. The entire city must have congregated here because parking was horrible, there was a strong police presence and people were walking everywhere. Lacy … Continue reading Enjoying a July 4th Weekend
We’ll be out of town until Monday but please enjoy the following article on homeowner’s insurance. I can spend days writing about the number of families who have been forced into distress because they never took the time to verify their insurance coverage or inventoried their belongings. It is wise to do a home inventory … Continue reading Home Insurance – Doing a Home Inventory
2209 Canyon Rd. Arcadia, CA 91006 Listing price: $1,999,000 ($358/sf) Beds: 6 Baths: 6 Sq. Ft.: 5,586 Lot Size 0.44 acres Since it has been a long week at work for me, we will switch gears and avoid the usual negative comments regarding real estate. So here we have a $2MM home located in the … Continue reading Worth your $2MM in the Highlands
Ever since the credit crunch reared its ugly head last year, everyone from realtors to specuvestors to homeowners strapped to their overpriced properties all wished for a quick recovery. Fall and winter came and went with nothing but disheartening news of subprime woes. Spring was suppose to be the turning point, but we’ve heard nothing … Continue reading Where’s the Summer Rush?
Zip Codes: 91006, 91007 Current Market Listings as of June 21st 2008* Properties for Sale: 224 (+6) Median Listing Price: $758,900 (0.00%) Weekly Foreclosure Update* Properties in Foreclosure: 34(+2) Properties in Pre-Foreclosure: 68 (+5) *+/- is compared to previous week’s data.
Another property has joined the $2,000,000+ club. This one is located in the beautiful Santa Anita Oaks area, or “Upper Rancho Estate”. Bordering close to San Marino and South Pasadena, homes in this community will always carry a hefty premium over other similar Arcadia properties. Of course, there’s nothing normal about these homes either: 3,000+ … Continue reading No Appreciation in the Hamptons
In addition to tracking home listings in Arcadia, I also try to stay updated in the rental market. My usual sources are the following: Rentals.com Apartments.com Craigslist Newspaper Classifieds This weekend I came across a new site: oodle.com. Their property rental section somehow pulls listings from several other sites and aggregates them into a searchable … Continue reading $2.5MM Home for Rent
Obviously, I’m not up at 5am every morning when the daily posts go ‘live’. Property profiles are written the evening before and set to publish the following morning. Unfortunately for me, it’s 12:00am and both Redfin and NeighborCity are down. I’m guessing the servers are undergoing routine maintenance. Since this is the case, I decided … Continue reading First look: Trulia Snapshots
Here is a list of some properties we profiled the last 3 months. Some have been sold and many are still… not! 35 W. Norman – Listed: $1,338,000, Sold for: $1,100,000 31 Woodlan Ln – Listed: $1,724,980, Sold for: $1,667,500 after 350+ DOM. 750 Arcadia Ave – Listed: $558,000, Sold for: $540,000 707 Joanquin Rd– … Continue reading Update on Sale Prices
333 Eldorado St. #A Arcadia, CA 91006 Asking Price $859,000 ::: Sq-ft 2,578 Purchased Price $357,000 ::: Lot Size Attached Condo Purchased Date 5/17/1999 ::: Beds 3 Days on Redfin 2 ::: Baths 2.75 $/Sq-ft $333 ::: Year Built 1998 20% Downpayment $171,800 ::: Area East Arcadia Income Required $214,750 ::: Type PUD/Townhome Est. Payment* … Continue reading A PUD I’d rather rent.
That’s who the average sellers are…hopeful romantics. If this were 2005, I can imagine the logic of buy, wait and resell for profit, but I find it difficult to comprehend that silly people were still doing that last year. The numbers are out for the month of April and DataQuick reported that Arcadia zipcode 91007 … Continue reading Hopeful Romantics
Are you frustrated about how expensive homes are? Do you feel cheated that people who made $30,000 a year were able to drive that decent $400,000 starter home you’ve been saving up for to over $800,000? Now you’re stuck paying someone else’s mortgage and hoping that you’ll be able to afford a decent condo one … Continue reading Are you an angry renter?
The internet has changed the way we live. From electronic shopping to scrapbooking, the internet has become the go-to source for researching just about anything. It’s completely changed the way people buy their airline tickets and turned the negotiation tables around on the car dealership show floor. There’s literally an entire world of information at … Continue reading Internet Savvy Buyers
It’s the weekend and you’re bound to see a lot of open house signs everywhere. If you have nothing else to do, check out one of these distressed properties and get a good hard look at the market landscape. Heck, if it strikes you to do so, throw in a few ultra lowball offers while … Continue reading Arcadia Properties in Distress
Unless you live under a rock, it’s hard to live life without hearing something about the market bailout. Whether you get the news from the local paper, television, internet or at the office water cooler, you’re bound to come across conversations regarding the drowning housing market. The Feds have bailed out Bear Stearns and there’s … Continue reading Shout About the Bailout
I received an email from “John” last week. Thinking it was a friend, I opened the mesage and it turns out to be from John Laing Homes. My email is registered with all the builders so it wasn’t surprising that John had some comments regarding the current housing market. See for yourself and let us … Continue reading Message from a local builder
Most bubble blog readers know that the housing correction will be severe, but I sense that the average Joe still does not quite understand the magnitude of the consequences caused by this Great Ponzi Scheme. The mainstream media is partially to blame for their cheer-leading headlines and quotations from the National Association of Realtors’ (NAR) … Continue reading The Data Does Not Lie
After doing property profiles on AHB day in and day out, it has come to my attention that most sellers are still overpricing their property for sale. As a potential buyer, I would like to share something with them. Perhaps they are still in denial and believe that buyers are willing (and/or able) to meet … Continue reading Dear Homedebtors…
The nesting instinct is typically characterized by the irrational behaviors of women during and after childbirth. Its symptoms are also common among newly-weds and young couples. This irrationality often entails purchasing a home with or without sound financial prudence. As a woman, I understand that and accept responsibility for the financial and/or emotional trauma our … Continue reading Fight the Nesting Instinct
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 … Continue reading I am Renter
1219 S. 6th Ave Asking Price $1,392,000 ::: Sq-ft 1942 Purchased Price $1,230,000 ::: Lot Size 26,414 Purchased Date 02/21/2007 ::: Beds 3 Days on Redfin 75 ::: Baths 2 $/Sq-ft $717 ::: Year Built 1922 20% Downpayment $278,400 ::: Area Near Monrovia Income Required $348,000/yr ::: Type SFR Est. Payment* $7,038/month ::: MLS# S515166 … Continue reading Get Out While You Can
Welcome to AHB! As one of the authors of this site, I’d like to take the opportunity and briefly introduce myself. I am a full-time analyst for a real estate development firm. My duties involve evaluating real estate acquisitions, studying market trends and determining the profitability of these investments. We routinely work with public builders … Continue reading Who is TheArcadian?
Whether you agree or disagree with the bearish views on this housing blog, you’re here because you’re interested in the state of the housing market. Unlike the stock market or other financial sectors where participation is voluntary, the housing market is not. Everyone needs a place to live – rent or own. From the early … Continue reading From American Dream to Nightmare on Main St.
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 … Continue reading Who is SavedByGrace?
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 … Continue reading A Load of Bull
Welcome! This is an informative web-log chronicling the real estate market in and around the city of Arcadia, California. Along with other cities in sunny southern California, Arcadia has enjoyed a significant increase in its average home price since the start of the real estate boom back in 2001. This site intends to observe, document … Continue reading Introduction to Arcadia Housing Blog