Los Angeles Compared With Dunbar

Hat-tip to ‘metalhead’ [at RE Talks 29 Nov 2010 8:56am] for pointing out the Bel Air, LA property above, for sale for $2.45M.
“4,200 square feet, 4 bedrooms, 5 bathrooms. Office and staff quarters. Spacious back yard has a heated, free form black bottomed swimming pool, attached spa, barbecue areas, circular sunken fire pit and a large lawn area.”

This is just one of many such examples we could take from LA.
As ‘metal’ suggests, let’s compare this to what you’d get in Dunbar [Westside Vancouver] in a similar price range. Keep in mind that the LA market likely hasn’t yet bottomed.

$2.26M; 3419 W 23rd; 2,838 sqft; 33×122 lot; MLS V857830.

$2.388M; 3688 W 35th; 3,895 sqft; 50×130 lot; MLS V820562

$2.50M; 3356 W 27th; 3,021 sqft; 33×131 lot; MLS V849344

$2.60M; 3930 W 38th; 3,349 sqft; 62×166 lot; MLS V856281.


Afterthought:
For the aesthetes in our readership, we thought we’d add this bonus ‘butt-view’ of the $2.388 Million property.
Where do we sign?
What are we thinking?



22 responses to “Los Angeles Compared With Dunbar

  1. In favour of Vancouver’s real estate, we all know that it always goes up, and Vancouver RE Never Go Down. We also know that LA’s RE is falling. Therefore, Vancouver real estate, as ridiculously-priced as it is, is still a better buy! Time to get rich on RE!

  2. To be fair we need to look at property taxes and other utilities/expenses. I’m guessing prop taxes there are easily in the $10s of K per year.

    • I did a search on Zillow and indeed, a $2M comp in the area is paying $25K/year in taxes.

      • So that’s an extra $15-20K per year. Not that much more, actually. Including some of the larger upkeep expenses with the LA property, that would warrant maybe a $500K reduction in cost apples-to-apples.

  3. Sure, the property tax is a little higher but just look at the homes and the neighbourhoods.
    A mansion with a view in Bel Air compared to a shack with close in neighbours in Dunbar? No comparison at all really.

  4. Come on guys, you’re all forgetting – Vancouver is a world-class city, while LA is just a … hey, wait a minute!

  5. You could pay the difference in tax with what you saved on your Ferrari.
    Cars are much cheaper down there, too. 🙂

  6. No Bubble here. People don’t make ten bucks an hour in this burg. Broke Irish are swamping the shops, and will work for cash – who is buying this crap?
    Where are they from?
    Something really stinks and we are about to find out what – and soon.

  7. Great for putting things into perspective!

  8. I’ve been (renting) in L.A. since 2006 and I’m glad to see this comparison. I keep telling my friends back in Canada about this and they barely pay attention. For those of you who are not familiar with Bel Air, let me tell you, humbly and respectfully, that this neighborhood doesn’t have a Canadian equivalent. It just doesn’t. This 2M property is an entry level home, surrounded by 15M villas. I mean, this is the area where Michael Jackson used to live. You have to see it to believe it.

  9. I would wager that the Dunbar homes all have rental suites in the basement. The bel-air home probably doesn’t even have a basement! Take that L.A.! You really know you’ve made it when you have someone living in your basement.

  10. Coming to the CBC: “The Fresh Prince of Dunbar.” We can all enjoy the antics of a suburban white kid from Abbotsford living in a very different neighbourhood.

    • lol Probably won’t be as funny. The butler Jeffrey will be a transient cast of foreign exchange students, and an episode will consist of doing DIY drain tile replacement or renting out the basement suite with 6′ ceilings.

  11. As long as by “different”, you mean completely Chinese.

  12. “foreigners living in China are only allowed to buy a single home for their own personal use”

    Let’s do that here!
    NO THAT’s RACIST!

  13. http://www.vancouversun.com/sports/Olympic+village+condos+return+market+significant+price+cuts/3902747/story.html

    bob rennie just announced likely 30% reductions for the olympic village. how long before others follow suit?

  14. Bob Rennie quote from that article: “It can be seen as a weakness. But it can also be seen as a strength.”
    Well, Bob, I think that just about covers all the possibilities.

  15. Frank Lloyd Wright Compared with Dunbar
    http://www.nytimes.com/2010/12/02/greathomesanddestinations/02gh-what.html?_r=1&hp

    [Thanks, UnagiDon. This comparison has been headlined. -ed.]

  16. Pingback: What are we thinking? – Frank Lloyd Wright Californian Home on 80 Acres compared with Dunbar Box on 0.15 Acres | Vancouver Real Estate Anecdote Archive

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