Can anyone understand the key to this thing? "No Change" and "Decrease" are between lines, but 2x, 5x, and 10x are ON lines, between colors! Does the amber color mean "up to 2x" and the dark read mean "more than 10x"?
This is why graphic artists shouldn't be allowed near these things. I'd be really disappointed, but nearly all of the graphs in the Times are badly done.
"This is exactly why despite the slow overall real estate market, I'm currently putting together a development of 8-figure homes."
Christopher, you have beautiful teeth and a very youthful look. Please keep us posted on the progress of the 8-figure homes. (Figure-8 Homes...? Like skating on thin ice?). Please give us further details. Do any of the participants have thick foreign accents?
That the high end is suffering lightly has been widely predicted. Most commenters have suggested that it will get dragged down, but my thought has been that as the lower end gets lower, there will be even more crowding into a smaller and tighter high end. The statistics are bearing this out, showing us actual price increases in certain areas while everything else is crashing. They'd better build some very tall walls with barbed wire around the development (if it happens) as I have the feeling that crime will rise commensurate with the fall of housing and the rest of the economy. Anyone tracking this?
Anyone who thinks the Westside will be exempt from this downturn is being overly optimistic. Realtors who commented on other blogs noted the very high number of 100% financing going on in that area in the last couple of years, not to mention the no-doc loans that proliferated. There are a number of condo projects that have come to a dead stop, including at Wilshire Barrington.
Let's check the statistics for the Westside about a year from now; this downturn has legs.
I hope you are right Kathy. But everyone I know wants to move to high end Westside areas in the $900k - $1.5m range. Demand for these houses are incredibly high and there are very few listings (w/ higher listing price than 2 years ago). On the flip side, the ones who bought in these areas during 2003-06 have really low fixed rates (6%) and even the ARMs are now resetting at less than that and no one is desperate to sell. I think it will be awhile before the high end areas get hit.
Peter Viles, senior producer for Real Estate at LATimes.com, has worked as a reporter for the Associated Press and CNN, and has written for portfolio.com. He lives on the Westside of Los Angeles with his wife, fashion designer Stacy Johnson, and their two children.
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thank the Lord I live in 90064
Posted by: typekey | January 23, 2008 at 11:37 AM
That map and search tool is fantastic, thanks so much for pointing it out. I will be in nerdvana tonight adding it into my spreadsheet.
Posted by: Cal | January 23, 2008 at 11:55 AM
Well, my zip code isn't doing too badly:
Fourth Quarter 2006 3
Second Quarter 2007 4
Third Quarter 2007 5
Fourth Quarter 2007 9
I don't quite belive this though. Looking at the bank reo websites, I see many more than this.
Posted by: TakeFive | January 23, 2008 at 12:11 PM
90044 - (South Central near the 110) had only 6 forecloures in the last quarter of 2006 and 41 just in the last quarter of 07.
That is amazing, given the number of families that I work with in that area that simply cannot continue to afford/pay their mortgage payments.
For the first time, I am truly afraid for those neighborhoods again...
Posted by: gettheetoannonery | January 23, 2008 at 12:39 PM
Can anyone understand the key to this thing? "No Change" and "Decrease" are between lines, but 2x, 5x, and 10x are ON lines, between colors! Does the amber color mean "up to 2x" and the dark read mean "more than 10x"?
This is why graphic artists shouldn't be allowed near these things. I'd be really disappointed, but nearly all of the graphs in the Times are badly done.
Posted by: ILuvLA | January 23, 2008 at 12:49 PM
Not so much on the Westside, huh?
See here: http://terrafirmala.com/
Posted by: Christopher | January 23, 2008 at 03:07 PM
"This is exactly why despite the slow overall real estate market, I'm currently putting together a development of 8-figure homes."
Christopher, you have beautiful teeth and a very youthful look. Please keep us posted on the progress of the 8-figure homes. (Figure-8 Homes...? Like skating on thin ice?). Please give us further details. Do any of the participants have thick foreign accents?
That the high end is suffering lightly has been widely predicted. Most commenters have suggested that it will get dragged down, but my thought has been that as the lower end gets lower, there will be even more crowding into a smaller and tighter high end. The statistics are bearing this out, showing us actual price increases in certain areas while everything else is crashing. They'd better build some very tall walls with barbed wire around the development (if it happens) as I have the feeling that crime will rise commensurate with the fall of housing and the rest of the economy. Anyone tracking this?
Please give us futher details...
Posted by: Uncle Billy | January 23, 2008 at 07:15 PM
Coming soon to a neighborhood near you!
The return of popular prices!
Posted by: firesale | January 23, 2008 at 08:14 PM
Anyone who thinks the Westside will be exempt from this downturn is being overly optimistic. Realtors who commented on other blogs noted the very high number of 100% financing going on in that area in the last couple of years, not to mention the no-doc loans that proliferated. There are a number of condo projects that have come to a dead stop, including at Wilshire Barrington.
Let's check the statistics for the Westside about a year from now; this downturn has legs.
Posted by: Kathy | January 24, 2008 at 10:40 AM
I hope you are right Kathy. But everyone I know wants to move to high end Westside areas in the $900k - $1.5m range. Demand for these houses are incredibly high and there are very few listings (w/ higher listing price than 2 years ago). On the flip side, the ones who bought in these areas during 2003-06 have really low fixed rates (6%) and even the ARMs are now resetting at less than that and no one is desperate to sell. I think it will be awhile before the high end areas get hit.
Posted by: GDC | January 24, 2008 at 12:28 PM
I cannot find the search tool to the right despite trying several times. I am using Safari on a MAC.
Posted by: ELIZABETH | April 11, 2008 at 03:08 PM