leaving so soon?

Yes, I am actually. It's not you, Blogspot. You've been wonderful. It's me. Apparently, the cool real estate bloggers blog on Active Rain. So I'm leaving you. For them. I'll never forget what we had though.

Follow me on over....

My Active Rain blog.

Peace out.

Auctioning Neverland.

Though it's been rumored off and on for years that Michael Jackson was in danger of losing his Neverland Ranch in Santa Barbara, it seems that time is drawing near at long last, and his days of shuffling debt from one creditor to another are over. Roger Friedman at FOX News is reporting that Jackson has until March 19th to come up with $24,525,906.61 or lose the property.

According to the report, it's not just the land and the structure either. Along with those assets, the lucky buyer will also include "all personal property inside, all fixtures and appliances, furniture, and 'all merry go round type devices,' any rides, games. The auction literally includes every single thing that is or isn't nailed down."

FOX even has a copy of the notice of sale.

Buy or Wait??

The question on all buyer's lips these days seems to be "is it the right time to buy yet?" Yesterday's LA Times addresses that question with some pros and cons. The pros pertain much more to current market conditions, while the list of cons is, for the most part, a laundry list of reasons why your particular circumstances might not make this the best time for you to buy.

Says the article, selection, interest rates, lack of competition from other buyers (meaning no bidding wars), and greater bargaining power all combine to make now a keen time to buy, as long as you can actually qualify for a loan and your livelyhood isn't expected to go anywhere...

Ignore The Headlines.

Money manager Dan Kadlek has an article in last week's TIME Magazine regarding the delicate tightrope walk of trying to find the bottom of home prices AND the bottom of interest rates. Prices may be falling, but what if interest rates begin a steady rise? Well, it becomes a wash.

Says Kadlek "the thing that will make home prices stop falling is the very same thing that will push mortgage rates higher," says Jim Svinth, chief economist at mortgage firm Lending Tree. So anything you gain by a further drop in prices might be offset by rising financing costs."

Encino Home Finally Throws In Towel.

A vacant Encino home, situated on a million plus dollar street, finally decided it had had enough last night, when the foundation literally cracked in half, allowing the house to slide a few feet, causing the evacuation of at least 4 other homes nearby. The fissure under the damaged home appeared to run 20 feet deep into the hillside, the LA Times reports.

One of the evacuated homeowners, Hugo De Castro, told reporters the ground in his yard was pushed up about 6 feet from pressure from the sliding home above. The home's carport was raised 3 feet off the ground.

The house was currently undergoing renovation.


The ground lifted at the back right corner of the garage | Photo by Zach Behrens/LAist

Excellent Timing.

For the record, I started MY blog about 2 weeks BEFORE this article in yesterday's LA Times. Why my infant blog wasn't featured, I have no idea.

Stars: They're Just Like Us!

While I tend to like to take a more "glass half full" perspective on the current real estate market, I came across this article on Forbes.com about how even some celebrities are experiencing difficulty selling properties that they may have bought at the tip top of the market.

Some of those affected by the downturn of the last year include rocker Slash, who is currently suing his former Realtor, claiming that the house is neither as large nor as private as it was proported to be, and that he overpaid for it.

Canadian "rocker" Avril Lavigne is also finding it difficult to sell what was her bachelorette pad in Mulholland Estates. The 6,864 sqft house came on the market at $6.9m almost a year ago, and has since been reduced to a paltry $5.8m. Dig it here, and don't touch anything.

Finally, Carson sidekick Ed McMahon is also singing the blues, having watched the Beverly Hills mansion he listed in July 2006 for $7.7m dip all the way down to $5.7.

The good news? These people are gonna be alright!

You Can't Stop Progress.

Wehonews.com covers a battle over the old landmark Tower Records building on Sunset Blvd.

OK, I miss old school record stores as much as the next audiophile, but that there's some valuable real estate, yo.

Life For Sale.

Though she may have been quiet on the music scene for a few years now, the UK's answer to Sarah MacLachlan, Dido, is firing up some activity on the housing market. As Mama over at the awesome Real Estalker points out, Miss Armstrong recently listed her home in Los Angeles' tony "bird streets" for $4.6m.

The home is 3 bedrooms and 3.5 baths in just over 3,700 square feet. Though not one of the grander homes up there (what do you want for $4.6m??), the land alone makes this one a pretty good buy. If I wasn't down here battling a hideous cold, I'd have been able to get up there and take a gander today. Oh well. Next time.

Full listing info here.

New Definition Of Angeleno Modern?

Last night I had the opportunity to attend a drop in/reception of sorts at the recently completed Sunset Silverlake Lofts. I must say, I was pretty impressed. Consisting of 43 live/work spaces (all the rage these days, for those not paying attention) and ranging from 912 to 1,823 sqft, they definitely worked for me. The units are located in the heart of Sunset Junction and stumbling distance from the historic El Cid, Malo, Akbar and more.

With prices starting at $699,000 and the developer now ready to negotiate, I think these are one of my favorite projects I've seen in a while. Those that know me know I'm a huge fan of Silver Lake. The people, places, bars, restaurants and the art fueled energy make it a favorite destination of mine.

There are 4 freestanding structures. Open floorplans, 19 foot ceilings, and fantastic views combine to create an uber hip pad. Check them out if you can, or call me to set up a showing.

Never More Than Now.

Never more than now did the time seem right for me to begin a real estate related blog. Blogging, apparently, is the wave of the future. Old news depending on your chosen fields of interest or point of view. If your quest for up-to-the-minute factoids involves Britney's latest meltdown or drunken Z-lister's shopping lists, you've had all the right blogs bookmarked (I know I do). But in the dog eat dog world of real estate, it seems to be becoming the defacto means of displaying your knowledge and a neccesary way of showing that you're as cutting edge as the next guy.

And I'm as cutting edge as the next guy. And the guy next to him.

Stay tuned as Never More Than Now takes shape.