La Canada Real Estate

Home of the Week

I'm launching a new feature this week and I promise not to only feature my listings or CB listings. Some properties deserve to be highlighted, and here is my pick of the week:

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4832 Commonwealth, built in 1911 is one of the last original La Canada homes. I used to spend summers on the East Coast with family and this house reminds me of my cousin's home in Harwood, Maryland. If you are looking for charm and warmth combined with great character this house could be for you. And what an address! The other 3 homes listed on Commonwealth range in price from $3,000,000 - $6,300,000.

This listing was in escrow but fell out because the buyers were unable to close (really...no fault of the house!).

This house does happen to be listed in my office with Carey Haynes (818-599-8066). Call your agent or one of us if you would like to see this lovely property.

La Canada Market Activity This Week

No new listings came on the market this week but 3 homes went into escrow in La Canada:

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2056 Lyans is on the private drive offthe south side of Lyans. Older home in a lovely setting. The house sits on 2 lots, though one of the lots has so many oak trees building on it could be problematic. 4601 Hillard is my listing and my seller signed a lease option (the tenants have a year to purchase the property). 4849 Oakwood is on a flag lot north of the freeway.

One house closed escrow this week:

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1112 Wiladonda is a fixer on a nice lot. It sold quickly with more than one offer.

La Canada Market Activity This Week

We have 79 active listings in La Canada. 2 of them are new:

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4609 Ocean view is a short sale. It is just north of Foothill in the Sagebrush area. 4825 Angeles Crest is new construction and priced for its location.

3 homes went into escrow this week:

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625 Georgian is a remodeled Ranch on a wide, shallow lot. It was listed November 2007 for $3,745,000, a ridiculous price even in a better market. It was relisted with another agent in April for $3,388,000. In July, the sellers took matters into their own hands and listed it themselves under a phony real estate company name. They actually took the CB Previews logo and used that on their sign until our legal department sent them a letter. Anyway...they got a bit more realistic on the price ($2,988,000) and after 5 months have an accepted offer. 3778 Hampstead is the Lautner. It sold in 2004 for $2,000,000 and was completely redone. It was listed in early 2007 for $3,000,000 (a ridiculous $1665 per square foot). It sold later that year for $2,000,000. This time around it was listed in January for $2,200,000 and has seen 5 reductions. In this market, even Lautner fans are not willing to overpay. 5306 La Forest is a charming completely redone Craftsman in a private, quiet location. It sold in less than 3 weeks.

2 homes closed escrow this week:

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1125 Lavender, the home I mentioned last week that sold off-market. The listing agent represented the buyer as well and it sold for the asking price. 4617 Lasheart last sold in March 2007 for $1,195,000. It was updated, then came back on the market in July for $1,289,000. The price was reduced 3 times before selling this week.

This week will be slow. We should see many listings coming off the market. My listing on Chevy Chase is being withdrawn this weekend and I will put it back on the market the first week in February when sales volume is expected to pick up.

OK-so here is my pitch for La Canada businesses...if you are like me, most of my holiday shopping has not been done and much of it will not get done (I learned my lesson buying a Playwell structure for my kids. They rarely use it but can't get enough of the $20 ski rope my husband hung from a tree and made a "swing"...ie: they really don't need much). But the little shopping I am going to do will be done here in La Canada in support of the local business owners. For great women's clothing, Frockx is having a big sale and Triangle (going out of business) has blow-out pricing. Flintridge Books has a huge selection and is a lovely shopping experience. Adobe and Botanicals have loads of great gift ideas. And there is always Sport Chalet. While I am less than thrilled with the design of the Town Center, it does look better as a street view.

Local scoop: Walgreens is in escrow on the old Sport Chalet building. If they get through the city we may have a giant drug store on Foothill...hmmm

I will post a short blog next week on Christmas. Happy Holidays!

La Canada Market Activity This Week

We have 82 active listings in La Canada. One is new:

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4645 Hillard last sold in July 2006 for $1,370,000. Prior to that it sold in December 2003 for $908,000. Ah, the good old days. Actually, I read a report that showed how most markets in the US, especially in California had appreciated over the last 60 months. So my friends, all is not lost. When this house sells it will stand as an example of how much our property values have gone up averaged over the last 5 years (I'm guessing at least 30%).

It was a big week for sales. 5 properties went into escrow:

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4474 Indiana...a rock-bottom price for La Canada. 1125 Lavender sold prior to coming on the market. The agent is related to the seller so it could have been a "pocket listing." 5131 Crown was a foreclosure. A friend of mine held it open and put an "REO" sign rider on the day of the open house. She said it was like bees to honey. Actually, she compared it to crack but I'm trying not to be so crass at holiday time. Many buyers think REO (real estate owned) means the house is at the rock bottom price so they come in droves and can end up bidding against each other and netting the bank a higher price than it expected or was willing to sell it for. 1032 Wiladonda is beautiful new construction, as is 951 Descanso. Both are spec houses and the sellers were motivated. Many of the homes sitting on the market in La Canada do not have to be sold. The sellers dig in and hope for a high price (I've heard this referred to as "homallucination"- the current market does not apply to your house or neighborhood). But homes like Wiladonda and Descanso, the ones that do have to be sold, will redefine prices in the coming year.

But let's not end on a down note. Statewide sales have increased significantly. October sales reached the highest level since late 2005. La Canada had 15 sales in October of 2005 and 13 sales during the same month this year. Not too shabby...

 

La Canada Market Activity This Week

We have 86 active listings in La Canada. 3 are new to the market:

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4475 Indiana has been owned by the same family since 1947. Cute with a guest house and you can dine frequently at the Magpie, immediately north of the property. 5555 Burning Tree is in bankruptcy subject to court confirmation and overbid. Nice price, but messy process. 2000 Tondolea sold in March 2007 for $1,785,000. It sold before that in June 2003 for $1,150,000 which illustrates the tremendous run-up in values that took place in the easier more fun part of this decade.

No homes went into escrow this week. Not exactly joyous news, though not uncommon for this time of year. 1 home did close escrow this week:

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5814 Briartree sold before it went into the MLS for 100% of its asking price. Not a bad note to finish this weeks sales on...