$300k price drop in Flintridge
4190 HAMPSTEAD Rd La Canada, CA 91011
Listing Price Information
- Original Price: $1,515,000.00
- Search Price: $1,259,000.00
This one is being sold by the owner, who is also a real estate agent. It’s been on the market for over half a year, and rightfully so — 1.5m is a joke. In today’s market, considering today’s financing and competing properties, I’d say somewhere in the $900k range would be generous.
It’s got an awkward layout, everything needs updating, it’s small for the price and it’s split upon multiple levels — the street leads down to the house and then a pool about 30′ below the house — everything feels tight. You might notice that the photo of the house is crowded, almost like the photographer should have stepped back, well he couldn’t. He would have stepped off a cliff.
I can see this as a possible tear-down, at least the neighborhood is ok.
Summer 2008 Armchair Economist
The Conference Board posted a report illustrating that consumer confidence is the lowest since ‘92 (a survey of 5,000 households, based on an index of 100 created in 1985). I am skeptical of subjective surveys to random phone numbers across the US asking leading questions like, “Do you think you are worse off than last year, or really worse off? Choose one.”
I will argue that the real inflation rate, not the bogus one published by the government, is the real number to watch with regard to consumer confidence through the balance of the year.
I am also going to watch new vehicle sales numbers through the summer, specifically luxury automobiles, to verify the current theories in the press that home equity was driving a surge in consumer spending. On paper this seems obvious, but crashing sales of MBZs and BMWs will solidify the proposition in my mind.
Theoretically, rents should also go up as demand increases for rental property fueled by people walking away from foreclosed homes.
On the bright side, business should be good: money is cheap, the weak dollar will encourage exports and the agriculture bubble should energize commodity markets, keeping money in the country. And the weather is nice.
by the way..
I got a new wallet today in a Shibuya department store. It’s made by a local designer, it’s cool and if you know me and see it, you will be jealous. Hah!
Meiji Shrine, et al
Work obligations stole the morning and rain threatened to take the afternoon, but we struck back and braved the downpour with a visit to the Meiji Shrine. It started off with a repeating theme for this trip: we walk within 100′ of our destination, lose orientation and proceed to walk in a long arc away from our target. It happened in Akihabara, the golf range and today. Anyway, the shrine was cool. Glad we did it.
They had these cool lamps hanging from the eves of the main building and I snagged what I thought would be useful as wallpaper.
Today’s trip was prefixed by another venture into an inexpensive sushi bar in Shibuya, the Standing Sushi Bar. It was delicious, filling and like yesterday, just short of $10. With one exception I’ve been eating sushi at every meal on this trip (and loving every bite).
Konichiwa, Arregato, Sayonara!
Haven’t posted in a while but what better time to update my blog with an occasion as special as leaving Beijing and arriving in Tokyo.
Beijing is raw, Tokyo is refined. Beijing is full of counterfeits, Tokyo is the real thing. Beijing is the frontier, Tokyo is the big city. Beijing pulsates on potential, Tokyo has been realized. Beijing doesn’t know how to bill you, Tokyo will open a hole in your wallet. Above all, Tokyo is the epitome of cool. I have a new found respect for the Japanese people and the magnificent city they’ve built in Asia, and I’m honored to partake in the adventure that is walking around Shibuya, Tokyo, Akihabara, Ginza, Ueno and Asakusa.
Today was electronic sensory overload in Akihabara from 7 floors of coin-op video games to 7 floors of electronic gadgets followed by a compulsory visit to the Apple Store in Ginza and split nicely down the middle with a conveyor-belt style sushi restaurant cheap enough by LA standards to be considered all-you-can-eat (and I just about ate all I could eat).
Yesterday was an adventure in getting lost trying to find a driving range sandwiched between two pro baseball stadiums highlighted with a vehement argument between Bill and I as to whether a particular fence in the distance was part of a baseball stadium or the range (turns out, both).
The adventure continues tonight as I have convinced my plain-hamburger-eating, lactose-intolerance-faking, diet-coke-in-the-veins-drinking buddy Bill to eat Japan’s signature dish: sushi. Although I’m confident there will be a KFC or McD’s chaser, I will at least get him to eat 1 sake sushi and post a video for those of you who would be amazed at such antics. To his credit, he did eat a whole shrimp 3 nights ago, tentacles, legs and all.
