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5429 Newcastle, #318, Encino CA 91316

By David9 following x   2013 Aug 11, 9:42am 3,663 views   10 comments   watch   nsfw   quote     share    


A friend from work called on Saturday around 1:00pm. I wasn't quite ready at that moment to go out, so I suggested an open house I knew of nearby that opened at 2:00pm. A curiosity about Real Estate can be infectious. At 2:00pm, there was no parking anywhere on Newcastle Street or the line of parking by the 101 freeway. I see my friend, we wave, I say there is no parking, she says she'll continue to look. I drive around the block and park in the BevMo parking lot. She does the same. It must be around 2:20pm and there are already several people looking at the unit. Tricia states there is an apartment like feel to the property. The unit is open and we walk into a large living room with a balcony, there is a partial Mountain view. The Realtor is there and offers a professional hello, she was already talking with someone else. We walk onto the balcony and then into the kitchen. I say it is large and there is tile. I notice the large pantry. The Master bath is rather large with white and black tile. We walk toward the Master bedroom and stop at the door. Tricia says the building is tilting. Do you feel that? I pause and say softly no. It is. The building is tilting this way Tricia says. I notice the Realtors composure. We walk into the Master bedroom there are two walk in closets and a floor to ceiling window. You won't be able to walk around naked here. Tricia says. I give a small laugh and say I probably would anyway. The 2 story building next door is close and you can see what is on their balconies. I think of white gauze drapes. We walk to the other side of the unit where the second bedroom is, it is good sized with one walk in closet. That bathroom has the bathtub.

We walk across the street to have lunch at an Italian restaurant and order a carafe of Chablis. Halfway through lunch and halfway through the carafe of Chablis, Tricia says, I think it is going to crash. There just is not enough jobs to support this. 210k for an apartment with no street parking, are you crazy? It's real worth is 100k. I nearly choke on my Chablis. I know that, but do you think that is going to happen? Real Estate was not the only topic for the rest of the very pleasant lunch.

A story intertwined with an open house provides an uncanny mirror. http://www.redfin.com/CA/Encino/5429-Newcastle-Ave-91316/unit-318/home/4116820

#housing

1   Bigsby   ignore (10)   2013 Aug 11, 9:53am   ↑ like (1)   ↓ dislike (0)   quote   flag        

First assignment for Creative Writing 101?

2   David9   ignore (0)   2013 Aug 11, 9:57am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Not bad, with an uncanny twist, I would hope.

3   waiting_for_the_fall   ignore (0)   2013 Aug 11, 11:12am   ↑ like (0)   ↓ dislike (0)   quote   flag        

You forgot the most important detail from your open house review: Did you leave an upper decker in the toilet?

4   David9   ignore (0)   2013 Aug 11, 11:31am   ↑ like (0)   ↓ dislike (0)   quote   flag        

waiting_for_the_fall says

Did you leave an upper decker in the toilet?

lol, oh gosh darn, too many 'buy now or be priced out forever folks.' I do apologize.

5   New Renter   ignore (11)   2013 Aug 11, 11:49am   ↑ like (0)   ↓ dislike (0)   quote   flag        

David9 says

Tricia says the building is tilting. Do you feel that? I pause and say softly no. It is. The building is tilting this way Tricia says.

Next time bring a racquetball or similarly sized hard rubber ball. If the floor is not carpeted you might be able to use the ball to figure if the floor is tilting.

A level would work as well but might be hard to sneak in. You can probably sneak in a length of plastic tubing and use it as a water level. That of course would work regardless of the type of flooring.

6   David9   ignore (0)   2013 Aug 11, 12:08pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

New Renter says

Next time

Ok, thanks. Just checked my little toolbox, no level, but a rubber ball is doable.

Not too out of the ballpark as this building was build before January 17, 1994. (And sold for pennies afterwards if you click the link and scroll down.) I noticed the stucco was not original.

7   Blurtman   ignore (1)   2013 Aug 11, 12:10pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Again, reads like it was written by a porn writer. What is the point, exactly?

8   David9   ignore (0)   2013 Aug 11, 12:29pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Blurtman says

reads like it was written by a porn writer. What is the point, exactly?

Thanks. I do like compliments. Two points actually:

1.) It is an open house review.
2.) My friend, who I do not think has any knowledge of this blog, makes a strong bear statement on real estate.

9   waiting_for_the_fall   ignore (0)   2013 Aug 11, 2:17pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

and 3.) Another few carafes of wine downed by Tricia would possibly have a happy ending, when the real story begins.

queue the porn music. Bow chica bow bow

10   David9   ignore (0)   2013 Dec 6, 12:45am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Just an update, this property is back on the market for 32K more.

http://www.redfin.com/CA/Encino/5429-Newcastle-Ave-91316/unit-318/home/4116820

Possible scenarios:

1.) A new dimension of a Bank/Real Estate twilight zone exists where these properties go in and out of and no one ever lives in them.
2.) The realtor/seller does not know how to pick a financially qualified buyer.
3.) It really is all about the banks balance/profit and loss statements.


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