La Canada Real Estate

A Look at La Canada Market Activity This Week

We've had 5 new listings and one re-list come on the market this week:

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I haven't seen 5454 La Forest but it appears to have been remodeled. 1110 Lavender is a victim of the current market....It sold in March 2006 for $1,390,000 to someone who was going to do an addition. They put it back on the market earlier this year for $1,198,000 (big loss) and now it is on for $100,000 less than that (huge loss). Ouch. I haven't seen 510 Knight Way. I drove by but it wasn't open on caravan. What can I say? Looks, er, interesting. 5188 Vista Miguel is very nice and a great price per square foot. The second story was added and the home was remodeled in 1987. Lovely yard with pool. I like Vista Miguel because it is a cul-de-sac. 3778 Hampstead was reloaded into the MLS this week. It is an incredible example of John Lautner's work but at $1,221 per square foot it is a hard sell in La Canada. As for 3627 Karen Sue, "located high in the hills of La Canada" is putting it mildly. It is a long drive up that hill. The original house and property sold in 2005 for $1,391,000 so it is safe to assume that the Sellers have put an enormous amount into it. It is hard to see it in the computer renderings of the new house.

4 homes went into escrow this week in La Canada:

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4733 Castle was priced very well. 210 Mero has been off and on since last fall. Incredible attention to detail and beautiful finishes. The floor plan wasn't for everyone which explains the time on market. 4849 Fairlawn was reduced about $600,000 before it sold. The power lines that run along the west side of the property hurt the sale price. We'll see what it closes for...5173 Earl sold 2 years ago for the current list price. The sellers spent a lot of money renovating so are selling for a loss. I think the buyers may be the sellers of the Vista Miguel house (just speculating).

4 houses closed escrow this week in La Canada:

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4755 La Canada Blvd. was on a narrow private drive. 4857 Commonwealth sold about $70,000 under the original list price. 941 Milmada was on the market for over a year. It's proximity to Angeles Crest hurt the sale. 1085 Inverness sold almost $800,000 below the asking price, yet closed at a respectable $547 per square foot. All in all, not a bad week for local sales.

Last week I mentioned beginning a blog about the saga of my front yard "make-over" (ie:disaster). My beloved laptop had a meltdown and is currently being operated on. All of my photos of the progression (or lack of) of the project are stored on said laptop. So next week I will begin the blog. Meanwhile, the ne'er-do-well contractor has been sighted riding his bajillion dollar bike around the Rose Bowl with his pack of wild friends. Hopefully he will stop by sometime and give some advice to our befuddled workmen.

La Canada market activity this week

Okay, still reeling from the Coldwell Banker news...only 4 new listings (really 3 plus one re-list):

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5367 Godbey is a townhouse with views. Evening Canyon is on a flag lot. Lovely views but backs up to Angeles Crest (noise?). Best to look at during rush hour to get the full impact of the location. I have not seen 2208 Cross yet. El Vago is a retread... already on the market for 264 days before listing with a heavy-hitter, Michael Dilsaver from Pasadena. He's a nice man but I equate it to putting glitter on dog poop (I got that phrase from a fabulous semi-retired agent who does not want to be quoted in my blog). I was recently called out on a listing appointment for a home currently listed by another agent. The seller wanted to believe that a new agent could infuse his tired listing with lifeblood. Sad to say I told him that it was his price, not his agent that was the problem. Something tells me that I will have a lot of free time with my kids this summer. Truly, a blessing....

2 homes sold in La Canada this week:

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1939 Tondolea sold with multiple offers...proving the old adage: location, location, location. 4255 Oakwood is also in escrow. Lovely home with incredible detail in a perfect location.

3 homes closed escrow this week:

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5148 Oakwood: an incredible deal despite the "flag" location. 5031 Oakwood was redone and greatly reduced from 6 months before. 4168 Dover, a Buff, Straub and Hensman. Undersold on the LA market given the popularity of the contemporary home, but not necessarily compatible with the La Canada market.

Real Estate News

OMG!!!! Coldwell Banker La Canada and Old Town is closing! If Dilbeck markets itself correctly, we could have an even bigger advantage in the community. We'll see how this plays out. CB top agents will work out of the South Lake office, but the field is wide open for all of the other agents that may opt to go to work for a local company. Old Town closes 07/08 and CB La Canada closes 07/09. Does this mean that the rumors that Sotheby's is coming to Town Center are true? Ah...the simplicity of a small town. Big news or little news, at least it is news!

La Canada Market Activity This Week

Sorry for the delay in posting. I was all set to log on last night when the electricity went off. Off course we were notified by Edison last week but it still came as a total shock. In an instant I realized how dependant I am on electricity. No Internet, no TV, no lights. And then something novel: my husband and I had and in-depth conversation. Neither of us were reading or watching Ace of Cakes. It is amazing how you think you are communicating when you are surrounded by everyday conveniences (distractions) and a simple interruption like the electricity going off makes you realize how diluted or intermittent your communication really is. But now, back to normal. I'm at the breakfast table blogging while he sits across from me reading the paper.

We have 112 listings in La Canada. 10 of them are new:

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2202 Cross is a 910 square foot condo alternative. 4733 Castle is on a private drive, only $400 per square foot. 4511 Hillard has been off and on for about 6 months. A major fixer in a marginal location overlooking Foothill. 1939 Tondolea is darling but small, a classic example of location, location, location. They already have an offer. 4588 Viro is cute. I haven't see 261 Starlane or 5704 Evening Canyon. 1615 Del Oro sold at the beginning of '07 for $1,365,000. Perhaps it is the one house in California that has not been effected by the real estate down turn. Ditto for 1139 Flintridge, a house that has been listed (and not sold) for years. The last time I saw it was in '06, when it was listed for $1,595,000. Hmm...1004 Vista Del Valle hasn't caravaned yet. Looks like it has a great lot.

4 homes sold this week:

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4546 Lasheart was in a great location for the price. 2240 San Gorgonio was just listed and sold the day of caravan. Nice street and lot but the house needed tons of work (ie: tear down). Chevy Chase had been cleaned up and staged. 4227 Beulah had multiple offers. Cute house on an awesome lot.

2 houses closed this week:

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2013 Derwood was way up Ocean View. 1004 Wiladonda was cute but had to be reduced because of its location on the corner of Angeles Crest. It sold for $240,000 under the original list price.

Next week I will begin a blog about my front yard. It is a never-ending project featuring a ne'er-do-well general contractor (my husband).

La Canada Market Activity This Week

We've had 7 new listings come on the market in La Canada since last Friday:

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We'll start with the sobering news: 4627 Viro and 1102 Fairview are short sales. While short sales spare the seller some (but not all) damage to their credit, they can be a pain for a buyer. Negotiations can take months while the lender holds the buyer's earnest money deposit with no guarantee an agreement will be reached. If these properties do not sell now, they will end up in foreclosure. 1366 Green is too close to the power lines. 4816 Pal isn't available for showings until the open house Sunday, 2:00-5:00. 2264 Laughlin is in Sagebrush and has a small yard with a view. 4826 Fairlawn is also near the power lines. It is open Sunday 2:00-5:00. I haven't seen Stardust. It is also open Saturday and Sunday from 1-4.

We had one house go into escrow this week:

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While the price was high per square foot, it is in a great location with a nice lot. We'll see where it closes in a few weeks.

We had 4 houses close escrow in La Canada this week:

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4279 Beulah is in an awesome location and was a great deal. It sold over asking with 2 offers. FYI-I've heard 4227 Beulah has 2 offers on it, not surprising even in this market. 4746 Hampton sold $100,000 under asking, but still closed at $573 per square foot. 1500 Descanso sold in September of '06 for $1,329,000. The buyer had plans drawn and the project is ready to pull permits. It just closed for $179,000 less than it did in '06, more than a 12% drop. 1242 El Vago closed well below asking, but still at $731 per foot. That's all for this week...