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