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  #601  
Old Posted Jan 14, 2022, 6:25 PM
mrnyc mrnyc is offline
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Originally Posted by Crawford View Post
Agreed.

SI generally isn't my cup of tea, but it's still really affordable, some of the corridors are quite nice, almost all the neighborhoods are safe and decent, schools are above average, and now real urban amenities are arriving.

And the topography in many parts is pretty dramatic. You can get an impressive hilltop home, with amazing Manhattan and harbor views, for a not-crazy price.
well, you can also get a 3 bdrm condo by the ferry for half the price of the other boros that is built in this century -- with the aim to retire in.

now these straggler owners just need to get a move on. the final on or about date is in a few weeks, so it shouldn't be too much longer.
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  #602  
Old Posted Jan 14, 2022, 6:35 PM
lio45 lio45 is offline
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A Central Park South apartment that sold for $93 million just prior to the pandemic recently sold for $190 million. Talk about a nice return:

https://www.wsj.com/articles/new-yor...ey-11642098997

Can the "cities are dead" narrative finally be put to rest? Or do we need a thousand more articles mansplaining how Google Teams will encourage everyone to move to rural Kentucky or an island in the South Pacific?
That penthouse is pretty much a giant bitcoin functionally, it’s not relevant data to the question “are normal people fleeing NYC or not?”

Note that I’m not taking a position here (on whether or not WFH and pandemic-induced fear of crowds are new solid longer-term trends that are going to keep causing harm to dense city neighbourhoods), just pointing out your argument is not a good one.
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  #603  
Old Posted Jan 14, 2022, 6:41 PM
Crawford Crawford is offline
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True, but the Manhattan condo market has nothing to do with "normal people". And 220 CPS is occupied by NY families, not random billionaire investors. The seller is a billionaire New Yorker, in finance, with three kids.

Back in 2020-21, when people were discussing pandemic effects on NY real estate, they were usually talking about the 1% temporarily ensconced in the Hamptons or Berkshires or Palm Beach. So the kind of people who live in 220 CPS.

I don't think anyone was seriously arguing that random teachers and plumbers in Queens moved. Working and middle class neighborhoods in NYC didn't have any type of outmigration.

And, yeah, while just one sale, it illustrates the fact that 2021 was, by far, the most successful year for high end real estate in NYC history. Which makes sense, since 2020 was terrible. All the unmet demand from 2020 was packed into 2021. It's the same reason that current suburban sales volume is terrible. All the current demand was already packed into 2020.

So basically the entire pandemic-era narrative was wrong. It was just that suburban/rural areas had an unusually good 2020, because all the demand for a few years was packed into a year, and now it's the urban market's time to shine, until the markets are back to the pre-pandemic equilibrium. In the long run, it appears nothing really changed.
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  #604  
Old Posted Jan 14, 2022, 6:42 PM
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The North One The North One is offline
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Originally Posted by lio45 View Post
But if you know with absolute certainty that your RE asset(s) is worth more than your RE debt even in the worst case scenario, can't the logical part of your brain take over and allow you to sleep well?

I owe millions of dollars and see no reason whatsoever that fact would keep me up at night. It's not even on the list of my top 100 worries.

Now, if someone owed money to organized criminals AND weren't in a position to pay, sure, that's a very uncomfortable debt, and a dangerous one; that would keep anyone up at night, trying to think about solutions to the problem.

But RE debt? That's like the healthiest sort of debt there is.
The guy is completely illiterate when it comes to real estate in general so not a surprise he doesn't understand basic home ownership financials.
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  #605  
Old Posted Jan 14, 2022, 7:05 PM
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JManc JManc is offline
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Originally Posted by sopas ej View Post
From The Eastsider:

543 N Mission Drive | San Gabriel
4 Beds | 3 Baths | $1,995,000

I like it. It even comes with a wine fridge. I'd get rid of the pool, though.




We have that exact same Saltillo tile in our kitchen as well but you would think they would at least pressure the outdoor patio tiles before taking these photos. Especially for a two million dollar house.
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  #606  
Old Posted Jan 14, 2022, 7:15 PM
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We have that exact same Saltillo tile in our kitchen as well but you would think they would at least pressure the outdoor patio tiles before taking these photos. Especially for a two million dollar house.
Nah, I think it'll still be snapped up. The dirty outdoor tiles give it a more rustic look anyway.


In addition to getting rid of the pool, I'd get rid of the sprayed-on stucco and have it re-stuccoed with that smooth, flat, hand-troweled look. I'd also reroof.
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  #607  
Old Posted Jan 14, 2022, 7:30 PM
Crawford Crawford is offline
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SGV is hot much of the year. I imagine buyers in the $2 million range would want a pool. Aren't pools pretty expected in higher end LA-area RE?

A really nice wine fridge is like 3k, so shouldn't make a difference one way or the other. An acceptable one can be purchased for $500.
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  #608  
Old Posted Jan 14, 2022, 7:48 PM
homebucket homebucket is offline
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I actually like the houses across the street from it more.

https://goo.gl/maps/LPtwdmXG3yH5Wnz49
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  #609  
Old Posted Jan 14, 2022, 8:30 PM
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Quote:
Originally Posted by Crawford View Post
SGV is hot much of the year. I imagine buyers in the $2 million range would want a pool. Aren't pools pretty expected in higher end LA-area RE?

A really nice wine fridge is like 3k, so shouldn't make a difference one way or the other. An acceptable one can be purchased for $500.
Only in the summer. Right now at 12:28pm it's 74 degrees, and we're having unseasonably warmer-than-usual temps.

It was bone chilly the morning of the Rose Parade January 1st.

I guess pools are expected, but I never liked them. I didn't grow up with one, either. My sister's husband did, so, of course when they got a house, they just HAD to have a pool. I only grew up swimming in friends' pools--the ones that had them, of course.

I don't know, even a well-designed pool, there's just something I find tacky about them. I'd rather have a really nice, rustic-looking garden.
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  #610  
Old Posted Jan 14, 2022, 8:32 PM
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I actually like the houses across the street from it more.

https://goo.gl/maps/LPtwdmXG3yH5Wnz49
Yeah those are nice.

Years ago, I briefly worked for a lawyer who lived on Country Club Drive in San Gabriel. Now those houses were huge and nice. I ran an errand with his personal assistant and we went to his house. Dayam. I won't say which house it was, but here's the street: https://www.google.com/maps/@34.1088...7i16384!8i8192
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  #611  
Old Posted Jan 27, 2022, 4:10 PM
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Sharon Tate never had it this gaudy on Cielo Drive. This is what replaced that Manson murder house.

Nice city views, though. And it's for sale.

Home of the Week: Inside the Spectacular $85 Million Beverly Hills Mansion That ‘Full House’ Built











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  #612  
Old Posted Jan 27, 2022, 4:28 PM
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Steely Dan Steely Dan is offline
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I interrupt this episode of "Lifestyles of the Rich & Famous" to bring you this important news bulletin about regular people shit from my neck of the woods.....



4609 N Rockwell St #1, Chicago, IL 60625

$299,900 | 2 bed | 2 bath | 1,100 SF

(no parking, but it's 1 block from the Rockwell brown line stop)

zillow link: https://www.zillow.com/homedetails/4...63692933_zpid/








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Last edited by Steely Dan; Jan 27, 2022 at 4:46 PM.
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  #613  
Old Posted Jan 27, 2022, 4:32 PM
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And now in my neck of the woods...


HOME OF THE WEEK: A 1925 ADOBE-STYLE HOME LOCATED ON GARFIELD AVENUE, SOUTH PASADENA


511 Garfield Ave., South Pasadena, CA 91030
Offered at $1,595,000


By SARAH ROGERS

PUBLISHED ON JAN 20, 2022



Set in the quaint Mission District of South Pasadena with Award Winning Schools, you’ll fall in love with this 1925 adobe style home which has been thoughtfully updated while maintaining the historic feel and character. The front yard has been completely re-landscaped with new lawn, new irrigation, a succulent garden, and avocado trees. Enter through a charming front gate into this walled, private oasis.



The home boasts classic details, from high ceilings, thick walls, handsome fireplaces to majestic views of the gardens and expansive patios, to Saltillo tile floors and a barrel ceiling in the hallway. The home is tucked away on a quiet street in a private setting. The tall mature trees add to the unique ambiance of the property, including three olive and one magnificent Moreton Bay fig tree, one of the most splendid trees in the city. Enter through the welcoming entry which has a beautiful front door, tile floor, coat closet, and high ceiling.

















There is also a deep laundry closet with extra storage. Recent system updates include electrical, copper plumbing, sewer, roof, HVAC. This home is a perfect place to entertain. The yard, covered patio in the backyard and a side covered porch are wonderful places for family and friends to gather.

The living room features tall ceilings, leaded glass windows on either side of the tiled fireplace, a large window, and access to the rear yard. The eat-in kitchen has been updated with newer appliances and cabinets, an island with a butcher block top, granite countertops, and charming built-ins with leaded glass fronts.

The primary suite welcomes you into a sitting room with a skylight, which can be used as an office or nursery, and down two steps is the bedroom with a corner beehive fireplace, stained glass windows, a walk-in closet, and the primary bathroom which has a stall shower with a skylight. The second bedroom is spacious and has large windows and recessed lighting. Both bathrooms were remodeled in 2016.

The home sits in close proximity to the shops and restaurants of Mission Street in San Marino and the attractions of South Pasadena on Mission and Fair Oaks, are a block from Garfield Park, close proximity to the 110, 210, and 134 freeways. Come experience the unique character that this home has to offer!

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Last edited by sopas ej; Jan 27, 2022 at 4:44 PM.
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  #614  
Old Posted Jan 27, 2022, 4:38 PM
Crawford Crawford is offline
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I can't tell if I like that Pasadena house or not. On the one hand, it's super cool-looking and screams SW US vernacular. Love the roof and low maintenance back "yard". That tree is insane.

It's right on the border of kitsch, though. And the floors look chilly. Maybe a bunch of throw rugs would do the trick.
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  #615  
Old Posted Jan 27, 2022, 5:06 PM
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sopas ej sopas ej is offline
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Originally Posted by Crawford View Post
I can't tell if I like that Pasadena house or not. On the one hand, it's super cool-looking and screams SW US vernacular. Love the roof and low maintenance back "yard". That tree is insane.

It's right on the border of kitsch, though. And the floors look chilly. Maybe a bunch of throw rugs would do the trick.
It is kind of borderline kitsch, almost like it'd be like living in a bed-and-breakfast or something, but I like it. With the SGV summers, you'd appreciate those tile floors, but yes, in the winter, they'd be chilly, especially walking around barefoot. Throw rugs would indeed work, as well as house slippers. And that's my idea of a back yard, a nice place outdoors to relax in/have meals, and entertain.
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  #616  
Old Posted Jan 27, 2022, 5:17 PM
homebucket homebucket is offline
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^ The avocado and olive trees are a nice touch as well.

And yeah, since it is the SGV, with the demographics being largely Asian, most residents would be wearing house slippers.
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  #617  
Old Posted Jan 27, 2022, 5:33 PM
lio45 lio45 is offline
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Originally Posted by Steely Dan View Post
I interrupt this episode of "Lifestyles of the Rich & Famous" to bring you this important news bulletin about regular people shit from my neck of the woods.....
Speaking of regular shit that SSPers can buy, my offer just got accepted $175k for a triplex that brings in ~$30k net rent (in reality, less, since my gf and I will be moving in it). One of the (few?) markets on this continent where the numbers still make financial sense.

I have doxxed myself enough already over the years so I'll limit the damage, I can share at least a (bad) pic:

Sans titre
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  #618  
Old Posted Jan 27, 2022, 5:34 PM
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Originally Posted by sopas ej View Post
And now in my neck of the woods...


HOME OF THE WEEK: A 1925 ADOBE-STYLE HOME LOCATED ON GARFIELD AVENUE, SOUTH PASADENA


511 Garfield Ave., South Pasadena, CA 91030
Offered at $1,595,000

Love it, id buy this in a second. Of course, its gonna go over asking with multiple offers
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  #619  
Old Posted Jan 27, 2022, 6:20 PM
edale edale is offline
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I don't understand the point of this thread. To showcase random homes for sale? Just go to Zillow and poke around wherever...
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  #620  
Old Posted Jan 27, 2022, 6:22 PM
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I don't understand the point of this thread. To showcase random homes for sale?
Bullseye!

If that don't interest you, you're entirely free to not click on the thread and read it.
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