However, and contrary to the opinion above (which some still do happen to hold, and often in highly vociferous ways), it would appear that the greater the square footage of your house, the lower your real estate intelligence quotient. Or at least that is what appears to be going on down there.
So what is Core Logic telling us? Arcadia single family homes in its 91006 locations, and as of September 2015, are down a shocking -25.6% from September 2014 prices. Conversely, Sierra Madre 91024 "Single Family Homes" prices, as of September 2015, are up a stunning 27.8% from September 2014 prices.
Does anybody still believe that restricting McMansions in Sierra Madre will cause property values there to plummet? Or that building vanity castles in Arcadia will cause peacock prices to skyrocket? Only the misinformed and gullible, greedy developers, along with Arcadia Councilmen Roger Chandler and Sho Tay, appear to share in that opinion now.
The reality seems to be that community preservation, and not wholesale mansionization, is what is driving the real estate boom we can see today in Sierra Madre. And having quite the opposite effect in Arcadia.
Here are the screen shots:
Don't take my word for it, link here to get your data straight from the Core Logic horse's mouth.
Bonus coverage from Nov 5: McMansion Mad Arcadia Home Sales/Prices In A Tailspin (link)
Barry Gold writes to the Library Services Proposal Committee
Tonight is the latest incarnation in City Hall's many attempts to get utility taxes increased in Sierra Madre. They have already held the Police Department, Paramedics, Fire Department and Water Enterprise hostage, so tonight the city have little choice left but to nail the Library to the mast as well.
Barry Gold recently wrote the following letter to the members of the Library Services Proposal Committee, so I figured it would be best to post it here as well. This is what he had to say:
They won't be televising this one, either. If anybody happens to be there, please share what went down.