La Canada Real Estate

Home of the Week

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=EKS%2F2aNfo8yX98urRNVVNjyZd2xMhfekjo3O7ZmVsSU%3D&KeyRid=1&Include_Search_Criteria=on

OK...so it is huge and out of most of our budgets but worth talking about just the same. This is a custom home and very well done. The front of the house is really gorgeous with its simple landscaping and sweeping driveway. The house has a center hall floor plan that I like because you enter the house and look through to the back yard. It is very "done," contrary to my house and not how I could see the Frame family living, but it is fun to see. There are great murals and finishes in the house done by my friend Linda Miller (957-5580). Really lovely way to accent things like the stove hood and the master bath. The back yard is wonderful, with a pool, sport court and outdoor fireplace/cooking area. They are having a twilight open house tomorrow, Thursday from 5:00-7:30. It is sort of the ultimate lookey-loo experience.

La Canada Market Activity This Week

We have 80 active listings in La Canada. 4 of them are new or are being "revisited" from late last year:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=EKS%2F2aNfo8yX98urRNVVNqOwP1Nk2SMLwrorvDuZ7SM%3D&KeyRid=1&Include_Search_Criteria=on

4636 Grand (revisited) was on the market from September-November for $1,199,000. Now it is a much better price, though still may suffer from its location on the corner of Fairview. Lots of school traffic. 271 Starlane is on for $557 per square foot and the buyer has to assume the tenant who has a lease through December of this year. It makes it a tough sell in the spring market as people are trying to move for the next school year. 305 Oriole is huge. It is basically a one-story house that goes on forever. It also has a small guest house. It is priced well for the square footage and lot size but is across from the freeway. 4363 Oakwood is going to be my home of the week...rather shamelessly due to its size and price, but it is really beautiful.

No homes went into escrow but one did close escrow:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=EKS%2F2aNfo8yX98urRNVVNiwN%2BEJrAMjNv3fge9zo9O8%3D&KeyRid=1&Include_Search_Criteria=on

4849 Oakwood was listed in September for $1,695,000. It reduced in October. It had been nicely updated and had a great yard. Given that it was located on a flag lot and had no master suite, the sellers got a very good price for the house.

I'm blogging early this week because we are going to Mammoth along with every other La Canadan who is enjoying the Friday school break. Look for lots of activity and new listings next week... 

Home of the Week

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=EKS%2F2aNfo8yX98urRNVVNpBEI5hvaWXf3HHmUvTFu6s%3D&KeyRid=1&Include_Search_Criteria=on

5444 Castle Knoll was purchased by the current owners in 2001. They have completely updated and remodeled the home. The kitchen features granite countertops, stainless steel appliances and a lengthy counter bar perfect for a large party or casual meals. Bathrooms have also been updated and the wood floors refinished. Included in the square footage is the finished basement that provides for a media or bonus room. The outdoor entertaining area includes a barbecue, fridge and plasma TV overlooking the pool and spa. The house will be open for the first time Sunday, 2:00-4:00.

La Canada Market Activity This Week

There are 72 active listings in La Canada. 3 of them are new:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=EKS%2F2aNfo8yX98urRNVVNqX0P85QeUX5YdjZJtVoiW0%3D&KeyRid=1&Include_Search_Criteria=on

1860 Foothill is a 3 bedroom with views. It sits well off of Foothill behind the Mormon church. It sits on a knoll and most of the large lot is hillside. 5444 Castle Knoll is on a lovely, quiet street. It has been meticulously maintained and updated (see "home of the week" for more details). 2114 Cross street just came on so I have not seen it yet. It is in the Sagebrush area of La Canada with Glendale schools. The house is open on Sunday from 1:00-4:00.

It has been a busy week in La Canada, with 4 homes going into escrow:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=EKS%2F2aNfo8yX98urRNVVNmVLsQoJBDsPXk5TCq3AVQA%3D&KeyRid=1&Include_Search_Criteria=on

940 De Linda is in escrow after being on the market for a year. It last sold in September '07 for $1,000,000. It was put back on the market that December for $1,075,000. By April '08 the sellers hired a new agent at $999,000. In October, it went back to the original agent for $975,000 and has reduced twice since then. 4832 Commonwealth is officially back in escrow (as reported last week). 4911 Vineta has proved to be a beacon of light in our declining market. There were 6 offers on the property in the first week and it is rumored to be in escrow over the asking price. Let's hope this sets a new precedent for our spring market. 921 Regent Park sold in less than 2 weeks. It is a charming, emotional home.

One house closed escrow this week:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=EKS%2F2aNfo8yX98urRNVVNol0J11WGwRcEtTOXD8xOb4%3D&KeyRid=1&Include_Search_Criteria=on

Third time is the charm! In escrow with 2 other buyers, 4072 Chevy Chase finally sold for $15,000 over asking. It needs work but has a great lot.

Did you see the Outlook this morning? La Canada is the 17th wealthiest town in the nation. While it doesn't fully explain how they arrive at those numbers (I think the ratio of renters vs. owners can skew the numbers, edging out wealthy zip codes like Pasadena's 91106), it suggests a bit of stability in our real estate market. Here is to a phenomenal 2009! One can only hope....

The Never-Ending Project Update

For several months now the "pedestrian entry portico" (as our landscape architect calls it) has been noticed and commented on by several neighbors and random passer-byers:

The 12x12 posts were a hard sell for me, but I eventually got used to the idea and have been warming up to it over time. Apparently, someone didn't like it and went to the city, and then began the battle of gazebo (our interpretation) vs. structure (the city's interpretation). Needless to say, the city won and the "portico" is coming down. Look for a much smaller structure that is no wider than the wall in the coming months (years). Some progress...the gate is actually electrified! And while we never actually close it, it is nice to know that we can.

La Canada Real Estate This Week

We have 71 active listings in La Canada. 7 are new:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=EKS%2F2aNfo8yX98urRNVVNnJ93K0D70unMZcaonWlZ6A%3D&KeyRid=1&Include_Search_Criteria=on

5430 Rock Castle is a view property in Sagebrush (as I write my 3 year old is doing my hair and repeating "Do you like it?" so forgive me for any typos). 4921 Commonwealth last sold at the beginning of 2006 for $1,025,000. It has been renovated. The kitchen looks new, though no dishwasher or fridge? All that for $270,000 more than what they paid for it in '06? Hmmm...5227 Crown last sold in 2003 for $939,000. This one looks like they did a very nice remodel. It is open Sunday from 1-4. 4911 Vineta is on a fabulous street. It is a bit on the funky side and the big lot is pie-shaped, but it could be a fun remodel. I would turn the garage around so it faces the front. 921 Regent Park last sold off-market in 2002. It is a wonderful English cottage with great furniture. The lot is private, witha hedge in front and a grove of tree in back. If you like Inns in the UK, this is for you. 1427 Sugar Loaf looks well priced for newer construction, though I have not seen it yet. 4200 Beresford was last on for $3,395,000 in August. It is a Paul Williams with a gorgeous yard. It is open Sunday 2-4.

2 homes went into escrow this week:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=EKS%2F2aNfo8yX98urRNVVNsjjX6fHXshHAXx9k7p%2FdVE%3D&KeyRid=1&Include_Search_Criteria=on

5248 Palm is in escrow after 271 days on the market. The house came on in April for $1,295,000 and has seen 4 reductions. 331 Oriole was going to be my HOME OF THE WEEK, but I will report on it here. Great location with only a hum of freeway noise, the home features 6 bedrooms on a approx. 30,000 square foot lot. While not completely updated, it is in perfect condition and has a beautiful back yard. There are 2 garages, one for two cars and the other for four. The sellers were realistic in their pricing. A year ago, it could have sold for at least 10% -15% more. Hot off the press- 4832 Commonwealth has not been reported yet but is in escrow again after multiple offers. Proof that their is still life in our market!

One home closed escrow this week:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=EKS%2F2aNfo8yX98urRNVVNm24%2BS2OmA0MjZgyZglOw%2Fw%3D&KeyRid=1&Include_Search_Criteria=on

4474 Indiana is the little cottage behind Magpies. It sold for $1,000 over asking.

Look for more next week as exciting new listings come on the market in La Canada!!!

Home of the Week

OK, so I know I said I wouldn't only feature CB listings but this just happens to be another one of them. I would have picked Chula Senda, a Dickson Podley listing, but at $702 per square foot, it doesn't meet my "home of the week" criteria.

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=EKS%2F2aNfo8yX98urRNVVNqpkzeZ7DorSxIMbAftRkxY%3D&KeyRid=1&Include_Search_Criteria=on

2021 Tondolea Lane, a beautiful Cape Cod on a tree-lined street. Definitely a victim of the current market. It sold off-market in 2005. Had it been listed at that time, it would have had multiple offers and sold for more. I remember 2005-2006. The market was going up so fast that you would price off of the most recent sale and then sell it for 10% more. I know it was that reckless behavior that got us into this mess, but I must admit to missing the good ol' days. Back to the house...listed in July for $2,095,000, reduced in August and then again in November. At $454 per square foot, it is a great deal even in today's market. The house shows like a Pottery Barn catalog. The only valid complaint I have heard is that the yard is small, and it is. In spite of that fact, this is one of those houses that agents look at and can't believe it is still on the market. If you need 4 bedrooms and a great finished basement, this house could work...

La Canada Market Activity This Week

We have made it through the first week of 2009 with 65 active listings. 6 of them are new:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=EKS%2F2aNfo8yX98urRNVVNtVxEPP8fBRD72zCwSKrigY%3D&KeyRid=1&Include_Search_Criteria=on

2061 Ahlin is located downhill from the YMCA, just above La Granada. Good price for La Canada, but freeway close. 5612 Bramblewood needs updating but has awesome views of the golf course. The price for this home will be greatly affected by the sale of 434 Noren, another view property (2533 square feet with a pool) in escrow at around $1,000,000. 4606 Palm Drive was on in 2007 as a major fixer for $895,000. It did not sell then but has now been fixed up. Given the new price and what it didn't sell for in 2007 (a much better market), I hope the new fixtures are solid gold. 2051 Los Amigos...no comment. At the time of this posting the agent has not uploaded any photos. How hard is it to take a digital picture? Sorry for the rant, but it is a pet peeve. 3929 Starland...OK, its not really a new listing since it was on the market most of last year and was pulled prior to Christmas. Originally on in March for $1,930,000 it is now priced to sell below $425 per square foot. It is a nice home bordering Cherry Canyon. 4232 Chula Senda was purchased in 2000 and completely remodeled. It is very well done, with gorgeous wood floors in the kitchen. Really only 3 bedrooms with an office, it sits on a choice Flintridge street with very little freeway noise.

No homes went into escrow in the last week, though we do have 15 homes pending sale in La Canada. 3 homes have closed escrow in 2009:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=EKS%2F2aNfo8yX98urRNVVNnahotz8nq294hDVuYvN0uE%3D&KeyRid=1&Include_Search_Criteria=on

375 Santa Inez Way last sold in 2005 for $799,000. It puts a hole in my philosophy that we are back to 2005 prices, since it closed almost 7% higher this time around. 3778 Hampstead is the picked-over Lautner that I have blogged so much about. It sold in 2004 for 2 million and again in 2007 for the same price. That buyer put lots of money into it only to sell it for just over $1,525,000. Still not as bad as most stocks....951 Descanso is another one that has defied the current market. In the best of all markets it would not have sold for more than 2.9-3.0. Advertised at 5400 square feet, over 1,000 of that was in the basement. While the basement was finished with a beautiful wine seller and was living space, the market has never given full value to that square footage. This sale will serve as an excellent comp for newer homes selling in the spring. The spring market is already perking up but I don't expect loads of sales until after Super Bowl. Don't ask me why, but that is when things really pick up...

La Canada MArket Activity This Week

We have 60 homes on the market this week in La Canada. No new listings came on this week and no homes went into escrow. One home did close escrow on Dec. 31:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=EKS%2F2aNfo8yX98urRNVVNi%2FNJKv32UokVGfEghhxcx0%3D&KeyRid=1&Include_Search_Criteria=on

1032 Wiladonda is a beautiful brand new home at the end of the Wiladonda cul-de-sac, just west of Angeles Crest. It sold for under $500 per foot, a signal that even the high demand new construction market in La Canada is finally being hobbled by the economy. The buyers got a fabulous home for about 15% less than they would have in 2007 and the sellers have a clean slate for 2009.

Look for more "Home of the Week" entries this year as well as reports on my beleaguered front yard. I am also open to any suggestions. Is there anything that any of you would like to see in this blog?

Happy New Year!