Mar Vista Hill back under $1 million

This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts.

Good morning. Westside Bubble reports there are a now a few listings on Mar Vista Hill for under $1 million.

We can imagine your response: Do you mean to tell us that houses on Mar Vista Hill were selling for more than $1 million? Yes, they were; some still are. The point of the Westside Bubble post is that prices are slipping a bit.

Example: 3 bed, 2 bath house at 3046 Mountain View Ave., asking $925K, was originally listed before 1/30/07 at $1,099K.

We’ve written before that we find these neighborhood price milestones worth monitoring. When prices ran past these milestones during the bubble (‘You can’t find anything on Mar Vista Hill for under $1 million anymore!’), these hyper-local rules of thumb became part of the bubble mentality.

Your thoughts? Any barriers being broken in your neighborhood? E-mail story tips to lalandblog@yahoo.com.
Photo Credit: Westside Bubble