Anyone ready to buy in prime Venice walk streets?
A few new lotfillers are due to hit the market in the next few weeks. These have been under construction since last summer before the bubble started to deflate. Anyone's guess as to what they'll ask for these nicely done but excessively large spec homes. Teardowns on these 3300 sq. ft lots in the Milwood section of Venice were selling for $1.1 plus in summer '07; so the builders will need to list the properties way north of $2m to walk away with a decent profit.
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9 comments:
LARRGE is the key word here. One of these houses is more than 3,000 square feet. 3,000 square feet on a 3,300 sq. ft. lot?
There oughta be a law.....
Californication
well, in the 90402 there was an anti mansionization law passed
basically a house can't be more than 60% of the lot size
so if this lot was in the 90402 the house would max out at 2000 square feet
if you want to limit house sizes in venice a law is needed
It makes sense to have density in venice--they definitely shouldn't have laws preventing people from using their lots.
That said, way over $2M for those houses seems absurd to me.
I think LA did pass a mansionizing ordinance a few months ago, but that was long after these permits would have been issued.
Your LUPC is working on it!
The anti-mansionization ordinance passed by the city earlier this year doesn't apply to the coastal zone. Therefore, only the areas of Venice east of Lincoln Blvd. are affected.
Who are you? Why are so many posts from people that don't want to be identified. I can only assume you must be one of those people that is living in a camper outside my house on Venice Blvd. - out to lunch with people that own and live here!
Want respect -- who am I addressing?
This blog is an opportunity for individuals to leave their comments without fear of personal attack. We could 'turn off' the anonymous feature and allow only identified users make comments; however this would defeat the purpose of the open forum.
If the remarks become hostile, derogatory or inappropriate, then anonymous comments will be prohibited. But ideally, people should feel free to speak openly.
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