Supernatural, Superserious

No, this is not a dig on some over the top listing in the Hollywood Hills, but I'm sure we will find a few of those in the coming months.

Wanted to make a plug for the new R.E.M. single that is making the internet rounds at the moment leading up to the release of the April 1 album entitled "Accelerate."

Now, your author is no professional music critic, so we are not going to wax poetically about grinding guitar riffs, brooding vocals and the like.

What we will say is that it seems that 16 years after the release of "Automatic For The People" it would appear that R.E.M. is acting like a band again. The song may not be a major hit for the boys, but it is nice to hear them engaged in the art of writing a song and having fun doing it. And this is a very engaging song!

You can download a the link to the MP3 on the upper right-hand page of this Slovakian fan site. Save it as an MP3 and then just import it into your iTunes or other music software. Now the disclaimer: Music is not meant to be stolen and when the actual song/album comes out on iTunes, buy it and support the artists. We are not so naive to believe that songs are not leaked to sites like this on purpose to get some early word out, but you get the point.

Enjoy the listen, and more real estate fun is coming soon!

Bless This Mess

In the short time that your author has been publishing this blog, we have commented often on the proliferation of "wedding cakes" being pawned off as houses in our neighborhoods.

Now, we understand that many of the houses that once stood on these lots were in major distress and it is hard to argue that something had to be done. Where we draw the line, however is when a simple, single-story house that is in keeping with the character of a neighborhood is replaced with a big-ass, two story house complete with guest house over the garage, built out to the last inch of the prevailing setback requirements. That is before any subjective argument over good and bad taste.

So, today we are looking for a buyer. A buyer that can afford about a million dollars. The buyer should have 20% down and good credit. If you are out there, this might be a time to pick up this little gem located within walking distance to the ever-popular Grove as well as the great little spots that fill up 3rd.

In this tricky market that we currently reside in, this one just feels like a good deal. So spread the word, and let's get someone in here to save this one! Rosalie Klein of Prudential has the listing on this one at $995,000.

The photos are horrible and don't really help with the analysis of the home's character. Outside of the tragic 50's fireplace in the living room, the rest of the house appears to be in the need of cosmetics.

The right buyer could pull this off for under $200K if they were thinking smartly and not going to great lengths to trick the place out. The property is located at 6236 Drexel Avenue and is promoted in the MLS as follows:

A very sweet character Spanish with a fabulous front porch arcade, 3Br/1.75Ba, with "to die for" soaring cathedral ceiling and stained glass portal. There is also a floor to ceiling rock fireplace. High beamed ceiling in the dining room lead to the kitchen with breakfast room. The spacious backyard holds much promise for the future. A great place to start, priced to sell...a must see...won't last long! Trust sale. Sold "As Is". Trustee will do no termite report.

So, someone, anyone, buy this house and restore it. But let's shut out the developers on this one.

We already hear whispers that an offer has been presented by someone who will immediately tear it down and build a new monster.

Listings in the neighborhood of that type are going in the mid $2,000,000 range, so that might work for the developer. But keep in mind that restored versions of these houses have been regularly selling for $900 per square foot based on location. The right buyer here may be able to actually preserve the sanctity of the neighborhood and not be under water after restoration costs. Maybe your author should buy it....

The Other Super Tuesday

Tropical Modern #1 (Edgemont Drive)















Tropical Modern #2 (Green Oak Drive)











It's a rare occurrence when real estate mirrors politics, but today there are two houses vying for your attention that are running on similar platforms, but with very different appearances.

Today's "oops" award goes to Holly Purcell at Prudential's Los Feliz office who has lifted the exact same headline for her new listing at 5524 Green Oak Drive as Dorothy Carter and Michael Orland's long-on-the-market flip at 2494 Edgemont Drive.

Yes, both are being marketed as a "Tropical Modern." So, which "Tropical Modern" gets the Super Tuesday prize?

Holly, we are not trying to be mean, but do you follow the market? 7 months of Tropical Modern advertising week after week, just 1 mile away from your listing and you couldn't figure out another name for yours?

Now, when the Edgemont house hit the market last August, we weren't really sure what "Tropical Modern" meant. The house wasn't tropical. The landscaping was kind of tropical. But I had a hard time connecting the dots without feeling that I was being pandered to by an agent who was trying to fluff up the list price by fluffing up a property that was rather ordinary by most thinking-person's standards.

The Green Oak house which is being viewed for the first time today could be given the benefit of the doubt, but we're pretty sure it is just a 50's modern design and the tropical elements of the house are really the landscape and the fish tank as evidenced by the typo-filled description below:

Tropical Modern

The resort-like home features mature tropical vegetation buffering the occupants into an island of luxury. Glass doors slide open to a view of the estate's emotionally engaging tropical forest, water fall and koi pond. Spend evenings under the starts enjoying dreamlike expanse of pool and lounge! Or, delight in the master suite with it's spa-like bath featuring elegant double-sinks and wall length-length vanity, a steam shower, and lavish soaking tub. The public rooms are arranged in an open floor plan accented with Brazilian woods and polished stone. Architectural cut-outs allow in natural light and glimpses of colored sky. Vaulted ceilings house two oppulent living rooms distinguished by an architectural floating hearth fireplace. The dining room is flanked with a luminous wall of exotic tropical fish on one side and an upscale chef's kitchen with Viking appliances and custom cabinetry on the other.

Wow! Evenings under the starts! And that vanity must be really, really long. But outside of the bad typos in the ad for the property, we're intrigued. House looks pretty good and that description... Makes us want to grab a jar of Cialis pills and hope that we're not pregnant or nursing, cuz this sounds like a big 'ol sex pad. We're going out to talk to our doctor before the open house just to be prepared.

Tropical Modern #1 is still listed at $3,999,000 and located at 2494 Edgemont Drive.

Tropical Modern #2 is sort of listed at $2,987,000 and located at 5524 Green Oak Drive.

There is reference to a web site for the property (although not active yet) at HollywoodModern.com but this one is conspicuously missing from the MLS. This would either be the owner holding it out, or Miss Purcell looking for her own buyer during this week culminating on Sunday when neighboring residents can expect to see a minimum of 30 open house signs for this property.

All Work And No Pay

These are tough times for realtors.

The slowdown in the market cannot be overlooked and it has resulted in many realtors working very hard with no true income to show for it.

Now, your author does not subscribe to the "scum of the earth" feelings that populate most of the real estate blogs out there when it comes to the profession, but we do see some interesting points when it comes to the profession and those who practice it.

A large number of agents entered the market during the boom years of 2003-2005. This would happen in any high-growth industry when money is being dished around at will. The problem, however, was that a great many of those "new agents" simply did not have the passion for the job nor the business acumen to succeed when the going got tough.

Combine that with the stalemate currently occurring between buyers and sellers, and you have a recipe for disaster among agents who have not established a proven track record and reputation.

Think about it this way:

1. 2008 has already seen not lower, but higher list prices than in preceding years. Seems like nobody got the message that home prices are correcting, loans are hard to get and buyers are scared to death to jump in. Sellers are looking at other list prices in the Multiple Listing Service (most of those not selling) and using a list price of other homes to guide them to their listing prices. This is truly a flawed strategy as it just creates more pent-up inventory and exacerbates the slowdown in the marketplace.

2. With agents having less business to work with, the feeling is that any listing is worth having, so they play ball with their sellers and put houses out at inflated prices that in many cases have no chance of selling without 2-3 price reductions.

3. The slowdown in the market also brings up a fear that we cannot substantiate is actually happening, but good 'ol common sense says is very real: Agents become desperate to make a sale and integrity goes right out the window when monthly income is not keeping up with monthly expenses. Say what you want about the profession when things were good, but fear the profession when times are bad.

Think about it, when sellers were making money hand over fist during the boom, were they actually bashing their real estate agents? Nope.

So, we thought today would be a good day to talk to sellers of homes about selecting agents to represent you in the event that you need to sell your home and aren't already going steady with your agent and have no intention of cheating on him or her.

This is not the typical "selecting the best agent list." The internet has increased the ability of any house to gain exposure, so a "neighborhood expert" may not hold the same weight as it did 10 years ago. Yes, a proven track record is important, but we offer these five criteria for selecting an agent that you might not have thought of:

1. Body Language - Anyone can walk into your home and gush for an hour about how much they LOVE your outdated bowl sinks, your vinyl windows with fake panes, the tract-home granite in your kitchen, etc. But when it comes down to pricing and marketing, does the agent appear confident? And are they realistic? Look for someone who shows genuine excitement about working with YOU through the good times and the bad.

2. Honesty - If I had to select an agent right now to represent the sale of my house, I would probably pick the one who was not afraid to tell it like it is. It doesn't mean I can't list higher that what they recommend, but right now, I would lean towards someone who is conservative as opposed to saying anything to get my blood flowing as it relates to price. Look for someone who understands the nuances of the market.

3. Financial Stability - The amount of business that an agent is doing outside of your listing is very important. What are they doing in terms of advertising for other active listings? What will they do for you? Marketing a home is expensive and it is not being paid by most brokerage firms, so find out what that agent will do. If they are willing to guarantee a marketing plan, great! If they tell you that at your list price it is a bad investment on their part to dump thousands of dollars into marketing the property, then hire them and work together to get the house sold. An agent who is not selling anything and having trouble paying their own bills is not going to spend on your behalf. Period.

4. Trust - With the profession being caught up in the down market cycle, look for someone that you like and most importantly, trust to be your representative. Who would you want opening the door of your house to the worried many and the excited few? I think that an agent that instills trust and confidence, combined with the right body language and honest, can actually create a positive energy when showing a house. Don't underestimate the power of strong ethics.

5. Hard to Get - If you interview an agent and they are not saying "yes" to every one of your ideas, give them a second look. It means they are honest and busy. Not too busy to work on your house, just busy and that is good right now. If they need 2-3 weeks to get your house on the market, it means that they will prepare it correctly and not just get out their camera phone to snap 5-6 pictures.

Sellers: Follow these guidelines and my guess is, that if you are thinking rationally, you will have a better experience in selling your home this year. And quite possibly at a very good price, no matter what the clowns down the street are asking.

The Circus Is In Town!

This just came on the market with a Bel Air address and interesting does not begin to describe what we are looking at.

Melissa Alt at Teles Properties provides the details on this property listed at $1,300,000 for a large lot that needs work. That's right, the lot needs work. And that's before you do something with the "house".

A UNIQUE OPPORTUNITY TO LIVE IN LOWER BEL AIR IN A LARGE ARCHITECTURAL HOME WITH SENSATIONAL VIEWS OF THE GETTY AND THE OCEAN. ANCHORED BY A CENTER ATRIUM, THE MULTILEVELS ARE CONNECTED BY INDUSTRIAL STYLE STAIRCASES, AND A SERIES OF STEEL PIPES. TWO CAR ATTACHED GARAGE. REMODEL, RESTORE, OR BUILD YOUR DREAM HOME. THE 23,000SF DOWN SLOPE LOT REQUIRES STABILIZATION. REPORTS AND ESTIMATES AVAILABLE.

Prediction: Multiple Offers. $1,750,000 or more.

But Melissa: Is this really an architectural home? In any way? We thought so.

Do You Know Who This Is?

It's none other than Ruth Seymour, general manager at KCRW.

Why do we bother bringing this up? Well, twice a year on our favorite radio station, Ruth's voice appears asking us for money, and boy do we want to turn that dial.

I'm not sure if it is possible to take a radio station in this day and age to the levels of excellence that she has achieved during her years at KCRW. She should be congratulated and well compensated for his tireless passion for public radio and continue her efforts for as long as they will have her.

But that is it!

I can't think of a voice on the radio that brings me to such levels of disdain for someone that I have never personally met. That shrill, grating, just in from New York, pitching me on donating to the best radio station in Los Angeles voice is enough to make we want to give up my Angel donation each year and find another recipient.

Anyone else on KCRW that is hocking subscriptions is just fine with me, but they need to hide Ruth in the broom closet during these pledge drives and let the folks who are pleasant to hear do the dirty work. I just don't want to hear that voice telling me to "cawl" 800-600-KCRW anymore!

Particularly funny thing about Ruth is listening her describe the technical specs of the latest Apple Computer or IPOD. She obviously is very uncomfortable with gigabytes and memory and should leave that to others.

So, is it just me on this one?

I'm Gorgeous Inside...

We would certainly hope so.

This crazy collection of photos masquerading as a real estate listing is courtesy of the usually reliable Tracy King of Coldwell Banker in Pasadena.

It is located at 1205 Eagle Vista Drive in Eagle Rock, and we don't have much optimism for the interiors. Not that any interior shots are to be found with the listing.

Seems like Tracy might have gotten caught up in the seller's argument which probably went something like this, "I've looked on the MLS and you can't find these views, privacy and a pool for $1,000,000 anywhere."

We would respectfully opine, "But for $500,000, I'm sure you can find a house of similar condition, and the Eagle Rock buyers are not going to spend $1,000,000 for what will appear to be a tear-down."

$949,000 gets you this one. Reduced on January 22 from $989,000 which was the original list price on December 20 last year. We think the owner is going to call this one home for a very long time. And we're pretty sure that Ms. King did not volunteer this listing price.

In Hollywood, the pitch would be something like, "It's the Blair Witch Project meets Sanford and Son."

Dummy!