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May 2009 Loan mod: Go it alone?, Inman News, 5/11/09 Second homes: Live like the rich and famous in L.A.'s South Bay, USA Today Seeking closure on short-sale holdups, Inman News Home sales boom in 'busted' markets, Inman News, 5/5/09 House hunting? It's not a buyer's market everywhere, LA Times, 5/5/09
April 2009
4/1/2009 - David just sold Candy Spelling's Holmby Hills estate, "The Manor," to a long-time client looking to downsize. The 56,000 sq. ft. home, listed for $150,000,000, is situated on 4.7 acres and has over 100 rooms. Terms not given at this time. OK, April Fools.
March 2009
GREAT NEW SOURCE FOR MLS SEARCHING & INFO Here's the best new real estate resource to come along in a long time: It's called LISTINGBOOK, and with it you can search the MLS the same way I do PLUS save your preferences and receive up to the minute notices of properties meeting your criteria. And it's FAST. To get your own free account, enabled by me and offered as a free service to my clients and website visitors, send a brief message with your name and email address to david@davidjwhite.com. That's all it takes!
GOOD NEWS DESPITE THE NEW WAR! So much is happening in the real estate market that heads are spinning nationally, regionally, and locally. But the good news is that Manhattan Beach real estate began a comeback in January 2009. Not to inflated levels, but to a more normalized market with buyers and sellers entering the market and lenders beginning to loosen the stranglehold on credit. Despite our government's War on Prosperity, we are genuinely seeing a substantial increase in demand for well-priced properties. That's a good thing, with positive indications for Hermosa and South Redondo as well. Give me a call if you'd like to have a frank discussion of what we're seeing in the local market. 310-916-1533. February 2009 It was bound to happen, and now it has: My son James has become a supermodel. He's the poster kid for this summer's Beach Sports camp advertising.
Check out their great camps at www.beachsports.org.
January 2009 Sadly, I'm quite disappointed with the performance of my current website provider. As I'm sure you've noticed, the response time of this site is incredibly slow and the site itself is quite clunky. That's just not good enough for my clients. What's more, the time it takes to load new information on this site is EVEN WORSE, so it has become quite cumbersome to maintain. As a result, I will be switching to a new provider in April. It will be a completely new site called www.BeachCityDigs.com, and will be FASTER, BETTER, and much more FULLY FUNCTIONAL! Thanks so much for bearing with me in the interim. The information you need is just a phone call away at 310-916-1533. December 2008
Mortgages hit 37-year low Foreclosure home-hunting strategies
October 2008
Need a mortgage workout? Call your mortgage insurer -------------------------------------------------------- 'Tread carefully' with owner financing -------------------------------------------------------- HUD puts out list of HOPE lenders -------------------------------------------------------- More sellers are lenders, too -------------------------------------------------------- How Sarah Palin's Email Got Hacked Timing the market: Refi or keep ARM loan? -------------------------------------------------------- I have a 2005 Subaru Forester XT Turbo for sale (just 28,000 miles, great condition.)
Click here for the ad on cars.com. -------------------------------------------------------- What if I owe more on my home than it's worth??? See this article from Inman News (10/10/08) and my HOT TOPICS section on Keeping Your Home. -------------------------------------------------------- In difficult economic times like these, it's important to reflect on the things that are REALLY important. Here's a story that's right along those lines, sent to me by my friend Stephanie Crowe: Two Choices At a fundraising dinner for a school that serves children with learning disabilities, the father of one of the students delivered a speech that would never be forgotten by all who attended. After extolling the school and its dedicated staff, he offered a question: 'When not interfered with by outside influences, everything nature does is done with perfection. Yet my son, Shay, cannot learn things as other children do. He cannot understand things as other children do. Where is the natural order of things in my son?'
The audience was stilled by the query.
The father continued. 'I believe that when a child like Shay, who was mentally and physically disabled comes into the world, an opportunity to realize true human nature presents itself, and it comes in the way other people treat that child.’ Then he told the following story:
Shay and I had walked past a park where some boys Shay knew were playing baseball. Shay asked, 'Do you think they’ll let me play?’ I knew that most of the boys would not want someone like Shay on their team, but as a father, I also understood that if my son were allowed to play, it would give him a much-needed sense of belonging and some confidence to be accepted by others in spite of his handicaps.
I approached one of the boys on the field and asked (not expecting much) if Shay could play. The boy looked around for guidance and said, 'We're losing by six runs and the game is in the eighth inning. I guess he can be on our team and we'll try to put him in to bat in the ninth inning.'
Shay struggled over to the team's bench and, with a broad smile, put on a team shirt. I watched with a small tear in my eye and warmth in my heart. The boys saw my joy at my son being accepted. In the bottom of the eighth inning, Shay's team scored a few runs but was still behind by three.
In the top of the ninth inning, Shay put on a glove and played in the right field. Even though no hits came his way, he was obviously ecstatic just to be in the game and on the field, grinning from ear to ear as I waved to him from the stands. In the bottom of the ninth inning, Shay's team scored again.
Now, with two outs and the bases loaded, the potential winning run was on base and Shay was scheduled to be next at bat. At this juncture, do they let Shay bat and give away their chance to win the game?
Surprisingly, Shay was given the bat. Everyone knew that a hit was all but impossible because Shay didn't even know how to hold the bat properly, much less connect with the ball. However, as Shay stepped up to the plate, the pitcher, recognizing that the other team was putting winning aside for this moment in Shay's life, moved in a few steps to lob the ball in softly so Shay could at least make contact.
The first pitch came and Shay swung clumsily and missed. The pitcher again took a few steps forward to toss the ball softly towards Shay. As the pitch came in, Shay swung at the ball and hit a slow ground ball right back to the pitcher. The game would now be over.
The pitcher picked up the soft grounder and could have easily thrown the ball to the first baseman. Shay would have been out and that would have been the end of the game. Instead, the pitcher threw the ball right over the first baseman's head, out of reach of all teammates. Everyone from the stands and both teams started yelling, 'Shay, run to first! Run to first!'
Never in his life had Shay ever run that far, but he made it to first base. He scampered down the baseline, wide-eyed and startled. Everyone yelled, 'Run to second, run to second!’ Catching his breath, Shay awkwardly ran towards second, gleaming and struggling to make it to the base.
By the time Shay rounded toward second base, the right fielder, the smallest guy on their team, had the ball and now had his first chance to be the hero for his team. He could have thrown the ball to the second baseman for the tag, but he understood the pitcher's intentions so he, too, intentionally threw the ball high and far over the third baseman’s head.
Shay ran toward third base deliriously as the runners ahead of him circled the bases toward home. All were screaming, 'Shay, Shay, Shay, all the way Shay!’ Shay reached third base because the opposing shortstop ran to help him by turning him in the direction of third base, and shouted, 'Run to third! Shay, run to third!'
As Shay rounded third, the boys from both teams, and the spectators, were on their feet screaming, 'Shay, run home! Run home!’ Shay ran to home, stepped on the plate, and was cheered as the hero who hit the grand slam and won the game for his team.
'That day', said the father softly with tears now rolling down his face, 'the boys from both teams helped bring a piece of true love and humanity into this world.
Shay didn't make it to another summer. He died that winter, having never forgotten being the hero and making me so happy and coming home and seeing his mother tearfully embrace her little hero of the day!’
Would you have made the same choice? September 2008 Are you facing foreclosure or having difficulty making your mortgage payments? I'd encourage you to check into HOPE NOW, an alliance of lenders and credit counselors formed at the behest of the Treasury Dept. and HUD for purposes of helping people stay in their homes. Here's a background statement from their website:
HOPE NOW is free. They may be contacted at 888-995-HOPE or at www.hopenow.com. --------------------------------------------------------------------- Economists differ on housing recovery, but If selling today, there's a formula to follow - Inman News, 9/29/08 --------------------------------------------------------------------- See Milder economic hit seen for area for a forecast of the South Bay's economy by the South Bay Economic Development Partnership - Daily Breeze, 9/25/08 August 2008 The Beach Reporter featured David in a Real Estate Profile written by Jennifer Evans on August 7, 2008. Click here to see the article! July 2008 Pro Athletes?...They'll Take Manhattan (Beach)! See this article from the LA Times on why Maria Sharapova and a number of other professional athletes have moved to Manhattan Beach... Click here for the article --------------------------------------------------------------------- Photo Gallery: Pro Athletes who live in Manhattan Beach Click here --------------------------------------------------------------------- An amazing new source of economic and demographic information, presented graphically on detailed interactive maps, is available from www.policymap.com. Much of this information is free, and the site includes a number of preset "Quick Answers" links providing highly visual answers to many questions of interest in real estate research. Check it out. Like Larry the mattress guy says...it's freeeeeeeeeeeee!!! June 2008
We get many inquiries about current hot topics in real estate, including buying foreclosure properties. Please click on the new section "HOT TOPICS" for links to articles we think present factual information you can rely upon - - instead of the sensational but largely uninformed perspectives generally served up by mainstream media! --------------------------------------------------------------------- INFO FOR BUYERS IN A SLOW MARKET
May 2008 On May 30, David participated in a daylong session with Manhattan Beach city planning & building officials led by Mr. Dave Dockter, a senior planning official with the City of Palo Alto. Dave D. spent the day educating us on how to manage our city's "Urban Forest" of beautiful trees. As administrator of Palo Alto's highly successful tree ordinance, Dave D. showed us a number of highly promising methodologies for improving on the way our own tree ordinance is presently being enforced. As a result, David and the Tree Committee are very hopeful that the problems experienced by many with the current ordinance will soon be alleviated by responsive city officials... --------------------------------------------------------------------- On May 15, David was quoted in The Beach Reporter's front page article by Julie Sharp entitled Controversial Tree Ordinance to be Revised. His comments included, "The solution we seek is realistic, flexible, thoughtfully enforced, and enhances the canopy without sacrificing private property rights." Click here to read the full article. --------------------------------------------------------------------- As a member of the Manhattan Canopy Tree Committee, David spoke before the Manhattan Beach City Council on May 6 on the topic of revising our city's tree preservation ordinance in order to enhance and enlarge the tree canopy by sensible, community-supported legislation consistent with individual property rights. --------------------------------------------------------------------- David will be listing a beautiful Plan 7 Townhome in a prime area of of Manhattan Village in late June or early July. Contact me now if it you would be interested in seeing it as a possible "fixer"... --------------------------------------------------------------------- David will be selling a charming starter home on a large lot in a lovely neighborhood of Sherman Oaks in late May or early June for around $575,000... --------------------------------------------------------------------- Home prices are generally down of course, but not as much as popularly-quoted indices say. Click anywhere on this MarketWatch article for details: March 2008 by David White (Van Zanten & White Development)
February 2008 David married the lovely Tina M. Oswald on February 2, 2008!
January 2008 PRICING A 5-BEDROOM HOME IN THE MANHATTAN TREE SECTION
Dear Clients,
I recently had the opportunity to analyze the pricing of a home in the Manhattan Beach Tree Section that had been offered for sale in the current buyer’s market for over 130 days without an offer. For that purpose, and as an example of the types of analytics we can create for you in the course of assisting you in pricing a home for sale (or evaluating what to offer for one), I present this analysis below.
The pricing of a home in a buyer’s market must be performed with a clear view toward the available substitutes on the market. Even strong advertising, frequent open houses, and special offers (e.g., financing and agent incentives) cannot overcome the stigma attached to an overpriced home in such a market. Moreover, in a buyer’s market involving financing resistance, buyers are generally reluctant to make what they fear might be perceived as a “lowball” offer for an overpriced home. So they make no offer at all.
Please see our analysis of this home below for our considered advice on this topic. Also please note that this summary analysis was supported by 40 page report also provided to the client.
PRICING ANALYSIS
A high quality property that has been on the market for more than a couple of months is quite likely overpriced for the market (supply, demand, local real estate economy, time of year). The biggest issue right now is that there are a number of brand new 5 bedroom homes still on the market from the summer and before, and new homes tend to sell before existing homes when the prices are similar (or less). In this case several are less.
SO, we've interviewed several brokers we respect and also created an updated CMA on this property evaluating 5BR Tree Section homes (1) currently on the market and (2) sold since 6/1/07.
Here's what this work reveals:
ACTIVE PROPERTIES
SOLD PROPERTIES (using actual sales prices individually adjusted by us for comparability with this home in terms of size, age, yard, etc.)
ADDITIONAL INFORMATION
RECOMMENDATIONS Based on our analysis and the information summarized above, we believe that the current pricing of this home, which was at the top of the market in summertime, is now completely out of the money.
Because we must look to the market for confirmation of asset values, we further believe that the proper pricing of this home to generate offers at this time and in this market is now $2,195,000-2,249,000.
As professional advisors, we recommend a price at this level. As an alternative, we could offer the property for lease (MLS, Craigslist, Westside Rentals) for 6 months, and then relist at what would be a better time of year and hopefully a better overall selling market. However we believe it unlikely that the inventory of new homes will have fully worked its way through the market by that time, so this approach, while covering current costs, would involve greater uncertainty. __________________ *Below 4000 sq. ft. (generally meaning without media room & wine cellar) and off the ultra-premium "gaslight district" 600 and 700 blocks of 31st St.
December 2007 Celebrate the Season ~ Experience the Dear Clients and Friends, The Holidays are such a joyous time. Please join me in experiencing the Journey to Bethlehem, a fun-filled evening of walking through the ancient city of Bethlehem on the night Christmas began.
November 2007 Picture featured in The Easy Reader!
November 2007 Article on Michael Locke in The Beach Reporter! Dear Clients and Friends, This incredible article came out in the most recent publication of The Beach Reporter. I was honored to give the interview about this brave local kid! I have included the link below so you can share in our community outreach to help Michael and his family.
November 2007 An Incredible Opportunity to Help!
August 2007 Register Today! Dear Clients and Friends, Are you thinking of selling your home? Want great tips on preparing for a quick sale? Looking for ways to save money for those simple upgrades to make your home shine even more? Register today on my site and I'll send you some great tips on preparing your home for sale & a 10% off coupon for Lowe's merchandise. http://davidjwhite.com/contact.sell.htm Are you thinking about buying and you are looking for ways to save on big purchases for your new home? Unsure of where to begin your search? Please register today and let my team of professionals help you find your dream home.... while interest rates are still low! I'll also send you a free 10% off coupon from Lowe's! http://davidjwhite.com/homesrch.htm
July 2007 A FEW THOUGHTS ON TREES Dear Clients and Friends, Over the years with my Residential Development partner, Jim Van Zanten, we have come across some incredible trees. Below you will find the link that allows you to share in our experience. http://www.vzwdevelopment.com/1901957.html
June 2007 NEW WEBSITE TO ENHANCE CLIENT Dear Clients and Friends, We are currently bringing up the brand new web site you are viewing in order to serve you better than ever. If you will bear with us for the time being, I'm certain that you won't be disappointed when the site is fully built out in the near future. In the mean time, please:
Thank you so much! Cordially, David J. White T: 310-916-1533 |
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David J. White, Licensed Realtor® & Residential Developer (Lic. 01357398)
South Bay Brokers, Inc. | 2501 N. Sepulveda Blvd., 2nd Floor
Manhattan Beach, CA 90266 | Office phone 310-546-7611 x398
Email: david.white@southbaybrokers.com | Direct phone 310-916-1533 |