The LA Times turns toward the ocean to once again consider the Westside real estate market--how's it doing? Freaking fantastic, of course. As the paper puts it: "L.A. real estate spans two worlds: one in which owning a house — any house — is the dream of a lifetime, and another in which a house is just a nuisance." Yep, they mean that teardowns are hot and, naturally, expensive (a Santa Monica house listed at $2.6 million "could go either way," teardown or rehab). Here are the best (most likely to incite a revolution) parts:
-- First of all, is everyone on the Westside a doctor? Four of the buyers or sellers mentioned happen to be physicians (there's also one "psychology professional").
-- "Hordes showed up for each [open house this past weekend], complaining that almost nothing was on the market."
-- "One Brentwood fixer-upper featured misbegotten design choices such as square bathroom tile in a light mauve and a gaping Jacuzzi tub. The fireplaces in the living room and bedroom were hung with rusty chain curtains, and mold was growing on the garage ceiling. It was listed at $1.5 million. 'I hope that comes with a bulldozer,' said one viewer."
-- One "young man" on the hunt "said you could start by putting in a second floor, then 'three or five years down the line, tear it down and built it up again.'"
-- "[A]t the Santa Monica Spanish open house, an Anna-Wintouresque real estate woman in giant sunglasses dropped by and opined that the celery-colored house was doomed. 'It's under-built for the neighborhood,' she said. 'The kitchen is nothing.' 'Two words, it's not functional, and it's not for modern living,' her male business partner said (they declined to be identified, saying they're well-known in Westside real estate circles.)" (Guesses in the comments, please!)
· Home sweet home or merely a teardown? [LAT]