La Canada Market Activity This Week

This week in La Canada we had 7 new listings come on the market:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=uWiOuDoY0oHPhb87nosN6eQZscHL9bPHfS2v%2Fw1rtGA%3D&KeyRid=1

I haven't seen La Granada but for some reason that street is a hard sell. Palm is above the school in a quiet location. Mero was on last year for about 4 months at a higher price. Lovely finishes throughout the house. I haven't see El Vago yet. Jarvis is very well done, but $740 per foot? Apparently the seller has not been reading the Times or the Wall Street Journal. Georgian was previously listed with Steve Davis about $500,000 higher. Now Carol Chua has it and it is getting closer to where the price should be. Great agent, great location. My personal favorite this week is Oakwood. Fabulous location, great floor plan, lovely home. It is a custom home and feels like it.

We've had 4 homes go into escrow in La Canada this week:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=uWiOuDoY0oHPhb87nosN6X4z4e1DOPbexbc8YJIs0XA%3D&KeyRid=1

Orange Tree is in a challenged location, hence the days on market and price. Beulah was a nice ranch-style home surrounded by mansions. The epitome of the term "location, location, location." They did get multiple offers and I heard it went a bit over. I didn't see Castle. El Vago is a very emotional home with a gorgeous kitchen. Lovely lot with pool. Priced at $792 per foot, I think it sold for less than asking. Check back in about 5 weeks for the sale price.

We had 3 closings this week in La Canada:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=uWiOuDoY0oHPhb87nosN6fjXDlsWGoRgRdAqOE8zx1Y%3D&KeyRid=1

Castle Knoll had more than 1 offer and sold $1,000 over asking, a rare happening in today's real estate market. Berkshire was on the market for 4 months last year and came back on in early spring. Beulah has basically been on the market since March 2004! It was listed then at $2,795,000, expired in '05, was re-listed in early '06 for $3,995,000 (we lived across the street at the time so it worked for us!), expired in '07, immediately re-listed for $3,695,000, expired a year later, re-listed in 8/07 as a lease for $12,500 per month, re-listed 3/08 again at $3,995,000 and finally sold this week for $3,260,000. I think you have to give points to the Seller and the agent for riding the roller coaster for so long!

I've put a call into the city regarding the Foothill construction. Someone asked me how much of the cost is covered by the Town Center Development and how much is coming from the taxpayers. I'll blog as soon as someone from Public Works calls me back...