Monday, March 12, 2007

Odd sales in February

I've been seeing unusual sales in Redondo Beach. They have gotten to the point where I had to add exclusion fields to my database records so I can exclude these sales as outliers whenever I do calculations of median and average sale price.

In case you are new to this blog, whenever I discuss a specific property, I always reverse the address numbers and the letters of the streetname, to protect the guilty and the innocent. Sometimes I exclude the number and give the actual street name.

316 S. Adurtreg is one of the February sales for which I never had an inventory listing. According to the county tax asssessor it has 2331 square feet, 4 bedrooms and 3 baths. A 02/26 sale is listed for $363,636. This obviously isn't what 2300 square feet homes go for in South Redondo. So is this property now bank-owned, or what? Somebody got a deal here, and this kind of stuff annoys me because I'm sure there are tons of people out there who would love to pay that price for such a property in South Redondo, and they'd be able to make the payments.

Here's another one: 3142 Namirrah Lane #B. It has 1896 square feet, 3 bedrooms and 3 baths. A 02/21 record claims it sold for $169,005. Again, I did not have a matching inventory record. Some kind of weird deal went down here. This is not listed in the tax assessor site. That price is unreal. Or it is a data entry error. Or something!

Or how about this one: 1071 Xamol Lane. This place sounds like a monstrosity with 3742 square feet, 8 bedrooms and 6 baths. At first I thought it was an apartment building, but no it's a SFR. It sold for $895,000 on 02/23. That sale price sounds low, but get this - the same place sold just last November 15 for $890,000. Was this a flip gone wrong? What?!? I didn't have an inventory record for this one either.

The last odd sale I'll highlight is 5361 Reyemevah Lane. This is a 2250 square feet 4 bedroom 2+ bath house. According to my records it was listed August 9 at $876,000, then reduced around October 11 to $849,000. The 02/23 sale record says $152,500. If it's a bad sale record, I don't know how Zillow gets such things.

5 Comments:

Blogger WannaSell said...

could these be intra-family transfers or family trust acquisitions rather than open-market sales?

that doesn't seem to account for all of them

12:34 PM, March 13, 2007  
Blogger bearmaster said...

This gets more mysterious by the day. Now the record for 3142 Namirrah Lane #B is no longer in the Zillow database! I don't take drugs and I'm pretty sure I did not imagine it.

4:41 PM, March 13, 2007  
Blogger Paris2LA said...

I think these are exactly what wannasell said, intra-family transfers and estate gifting transactions. I'm not surprised if Zillow removes them as outliers.

10:34 PM, March 13, 2007  
Blogger wannabuy said...

Wish I could add something...
But they are just mysterious to me.

Will they adopt me? ;)

While I know it is tax time and the scatter plots require a bit of work, I had hope to see them for February. :) Although, the bar charts probably work better due to it being the "slow month."

Got popcorn?
Neil

10:44 PM, March 13, 2007  
Blogger bearmaster said...

Here's another odd one I didn't post:

1082 Yelkrab Lane

3641 sqft 3/3 according to Zillow
3641 sqft 6/3 according to ZipRealty

Originally listed 05/17/2006 for $1,325,000, reduced 09/07/2006 to $1,200,000, sold 02/07/2007 for $2,328,000.

Last known sale was 08/15/1995 at $375,000.

4:26 AM, March 14, 2007  

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