La Canada Real Estate

Soap Box Time!

OK...I've deciding being popular isn't as important as it was when I was 16 so I am going to go on about the proposed parcel tax. And honestly, I am speaking as a homeowner first, parent second. Don't get me wrong, my children are my absolute priority, but there is always Crestview if the schools go south.

First, the good news....

Because of the fiscal responsibility and capital management demonstrated by our school board, we are in far better shape than San Marino and South Pasadena:

San Marino has authorized the elimination of 48 (yes, 4 DOZEN) full-time positions with teaching credentials and South Pas is preparing to lay off more than 30 teachers and 20 non-teaching staff. Meanwhile, La Canada has already increased their facility lease rates and space available for leasing, reduced worker comp claims, reduced custodial staff and overtime budgets...I could go on and on.

Now, the bad news:

The current year tax cut is 2.2 million ( a whole lotta custodial staff reductions) and we are slated for 13.6 million in cuts over the next 4 years=15.8 million over the 5 year period. And this is a best case scenario if the State projections are correct (given that it took 8 months to come up with this budget I am not overly optimistic that this is the last we will hear from Sacramento).

So, back to the good news:

The proposed parcel tax is only $150 per year for 5 years (seniors and non-residential parcels are exempt). I'm figuring for the next 5 years I will forgo approximately 3 lattes per month and I can afford to pay this tax. Remember, if you lived in San Marino you would be looking at an additional $750 on your almost $300 existing parcel tax. We are talking about $150 per year. A dinner for 4 at Taylor's without a bottle of wine. And your property value won't be going down while you cut into your steak.

La Canada is an incredible community, whether you take advantage of the schools or not. But take away the schools and you take away the fundamental component that makes our community great. Our property values are supported and upheld by all of the families that move here specifically for the schools. If we let our value be whittled away by little more than your weekly Starbuck's splurge, what does that say about our community?

Home of the Week

Once again, one of my listings makes the list! It shares the spotlight this week:

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4825 Matley has not been on the market for 30 years. Located on a cul-de-sac in the Sagebrush area, it is a quintessential Ranch. There are 4 bedrooms and 3 baths in themain house with a detached office and additional 3/4 bath. The large yard features a pool with flag stone surround and patio, grassy play yard and flower gardens. It is a hard-to-find single story with well over 3000 square feet of living space. It has been incredibly maintained and updated. I will be open on Sunday from 2:00-5:00.

4335 Oakwood sits in the sweet spot of La Canada with a pool and guest house. A must-see for Spanish enthusiasts. It will be open on Sunday if it does not sell first.

 

La Canada Market Activity This Week

There are 115 active listings in La Canada. 6 of them are new:

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310 Canon de Paraiso last sold in 2004 for $901,400. It has been updated with a new kitchen and baths. 4611 Vineta is a cute Ranch in need of repair. 5025 Jarvis is a mountain retreat. Good bones in a good location. It needs updating and landscaping. 4825 Matley and 4335 Oakwood are my homes of the week. 4257 Woodleigh last sold in 2005 for $2,250,000. It has a lovely pool area and the back yard is on a lower level. The house is charming but feels small.

3 homes went into escrow this week:

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4816 Castle is new construction and sadly, a short sale. It started in August 2007 at $1,799,000 and has had 7 reductions. An example of chasing the market down. 4812 Ocean View last sold in 2005 for $775,000. It has been on the market since September. 4849 Fairlawn sold in August for $1,550,000. It was purchased by an interior designer and given a total face lift. It came back on the market in December for $2,675,000. It was reduced March 13th and is now in escrow.

2 home closed escrow in La Canada this week:

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4818 La Canada Blvd. started in November at $880,000. It reduced and finally sold. 4917 Burgoyne was originally listed in February 2008 for $1,795,000. It had 3 significant reductions and has finally closed escrow.

The market is moving as sellers have come to understand the current market and are either coming on at very reasonable prices or are reducing to them. Amazingly, multiple offers are going over asking. Prices overall are not rising so one has to wonder where the infamous bottom is.

Home of the Week

639 Foxwood can be described in 3 words: location, location, location.

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The home last sold in 2004 for $1.8. It has been remodeled and updated by the current owners. Walls of glass highlight this incredible 4 bedroom, 5 bath home. The private lot features a pool, spa and outdoor fireplace. Even if you are not a 60's architecture enthusiast, it is worth seeing!

La Canada Market Activity This Week

We have 114 active listings in La Canada. 7 of them are new:

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1892 Foothill has a large lot but is on Foothill. I always get nervous when the front of the house is not featured in the MLS...4518 El Camino Corto just came on so I have not seen it. 1708 La Taza last sold in 2006 for $1,155,000. It came on the market in 2007 for $1,390,000 and has been off and on ever since. Now it is one of the dreaded short sales. Ditto for 1622 Leycross. It sold in 2005 for $940,000, was remodeled and then put back on the market 5 months later for $1,195,000. It has been off and on with different agents since, once as high as $1,499,000. Wouldn't you think that if it doesn't sell for $1,195,000 that $1,499,000 is out of the question? Now the seller is negotiating with the bank...4544 Palm is a cute house on a fantastic lot with great frontage. It will be open on Sunday from 2:00-4:00. 4379 Chevy Chase was last on the market in 2003 for $1,750,000 subject to the seller's finding a home of their choice. I'm guessing they didn't find it then but have found one now. That house used to belong to Doug Drummond and before that my husband's grandparents. If you live here long enough, you learn the histories of all of the homes! 639 Foxwood is my home of the week.

It was an amazingly busy week in La Canada with 7 homes going into escrow:

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1738 La Barranca started in January at $719, was reduced at the beginning of the month and is now in escrow. 940 Delinda last sold in 2007 for $1 million. Three months later it came back on the market for $1,075,000. It has been off and on the market since with different agents. It went into escrow in January and fell out but is back in again. 5755 Summit Crest was priced well and sold with multiple offers over asking. 4019 Hampstead was also priced well and went with multiple offers. 4458 Chevy Chase was last on the market in 2005 for $2,395,000 but it did not sell. The owners took it off the market and did a massive remodel and this time it sold with multiple offers. 4200 Beresford was listed last May for $3,395,000. It has had 2 significant reduction and is now in escrow at an incredible price. 4132 Chevy Chase is the dreaded foreclosure. I have no idea what it is in escrow for, but the list price is more than $300,000 under what is owed on the property.

6 homes closed escrow this week (finally, spring has sprung!):

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5616 Ocean View last sold in 2004 for $790,000. Ouch!!! 736 Lynnhaven was never officially on the market. Great location and lot. 4318 Bel Aire and 3821 Domal were tied together for 6 months. Domal went into escrow in September contingent on the sale of Bel Aire. That home came on the market for $1,595,000 and had 3 reductions before it finally sold and they were able to move to Domal. Bel Aire last sold for $1.5...331 Oriole sold quickly with seller financing. 4377 Commonwealth sold with cash in 7 days.

The market, while unpredictable is finally moving! It is hard to price a home based on a prior sale because the sale price is so dependent on who is in the market at the time the house comes on the market. There is a lot of activity as buyers position themselves for public schools. Speaking of which...there is a meeting this Wednesday for the parcel tax steering committee and the community at 7:30. I am assuming it will be at the district offices on Cornishon but check http://lcusd.com/lcusd/site/default.asp for exact location.

I will be hosting an open house at 4741 Orange Knoll this Sunday from 2:00-4:00. Please stop by!

Home of the Week

Once again, a bit prejudiced because it is my listing...

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4815 Daleridge is a wonderful 3 bedroom home in a perfect location. The house had been completely updated and shows beautifully. Truly and indoor/outdoor home, the great room opens to a spacious deck and overlooks the pool and spa. The kitchen features new granite countertops and appliances. Both baths have been upgraded and there is hardwood flooring throughout most of the home. The house sits north of Baptiste on a quiet cul-de-sac, yet is close to schools and shopping. I will have the house open from 2:00-5:00 on Sunday. Please come by! 

La Canada Market Activity This Week

We have 107 active listings in La Canada. 10 of them are new:

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1926 Hilldale overdlooks Verdugo Blvd. just west of the 2 freeway and the movie theaters. It was on the market in 2007 for $895,000, then again for 2 months in the middle of 2008 for $595,000. Title is held by an individual, but the verbiage suggests that it is in foreclosure. 5140 Redwillow has been in the same family for years and years. It has not been updated but is in very good condition. It has views and is located at the end of a private drive. The house will be open on Sunday from 2:00-4:00. 310 Santa Inez Way last sold in 2004 for $735,000. 4815 Daleridge is my listing and of course, Home of the Week. 5755 Summit Crest is in excellent condition. It is priced to move and already has 4 offers. 4019 Hampstead is an incredible Hacienda style home with views and a pool. Also priced to sell and in multiple offers. 1323 Green Lane sold in 2004 for $820,000 and again in 2005 for $1,085,000. Those were the days! I didn;t see 5077 Walmar. I like the street and location. The house will be open Sunday from 1:00-4:00. 4458 Chevy Chase was last on in 2006 for $2,395,000. The sellers took it off the market and completely renovated it. Great square footage and condition for the price. 4343 Commonwealth is very nice with great curb appeal. The yard is the best part, with a pool and tennis court as well as a guest house.

Finally! The spring market is here! We had 6 homes go into escrow this week:

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5367 Godbey is a town home in the Country Club area. It last sold in June 2005 for $795,000. It has been on the market since December 2007 starting at $979,000. 6 reductions later it is in escrow. 148 Lamour sold quickly...less than 2 weeks on the market. Ditto for 4620 Alta Canyada. 4638 El Camino Corto sold after only 3 weeks. 317 San Juan went after less than a week on the market. 4377 Commonwealth is in escrow! After 11 months on the market, buyers finally stepped up. It is a fabulous house and the first house in La Canada to sell over 4 million in months.

3 homes closed escrow this week:


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5131 Crown was the foreclosure. It took months to close due to the liens against the property. 1109 Wiladonda started in September at $1,695,000 then reduced to $1,595,000. The sellers even tried to lease it but it finally sold. 2021 Tondolea came on in July for $2,095,000 and saw 3 reductions before selling. That house defied most agents expectations in both the length of time it took to sell and the price. The buyers should be very happy...

Home of the Week

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5064 Oakwood is a gorgeous home completely remodeled in 2006. It has a phenomenal great room open to the kitchen. French doors are off of the great room and master suite, opening to the 2-level yard. 4 bedrooms including the master are on one side of the house. The fifth bedroom is upstairs in a loft-like area and is currently being used as a game room. The house is located on "Upper Oakwood" above Lynnhaven and is a quiet, private street. It will be open on Sunday from 2:00-4:00...truly worth seeing.

La Canada Market Activity This Week

We have 104 active listings in La Canada. 7 of them are new:

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148 Lamour was purchased in foreclosure in 2007 for about $700,000. The house was fixed up quickly and put back on the market weeks later for $998,000. It did not sell and was leased for 2 years. Now it is on the market at a more realistic price. 4508 La Granada Way last sold in 2006 for $875,000. It has been updated since then. 4536 Rockland Place was an unfinished construction project when is was foreclosed on in 2008. It was sold in August for $520,000. It has been finished and is now on the market again. 4611 Alta Canyada last sold in 2004 for $950,000. It was on the market from May 2007 through August of last year for the same price that it is listed for today. News flash: If it didn't sell in 2007 or 2008 for that price, it just might not now! 5454 La Forest sold in 2005 for $1,720,000. It was remodeled and came back on the market last year for $1,995,000. They are trying again at the new price, undoubtedly leaving money on the table. 5064 Oakwood is my home of the week. 2026 Tondolea is really beautiful and decorated perfectly. It shows very well. It sold in 2007 when it was new for $2,125,000. It will be open on Sunday from 2:00-4:00.

This one slipped under the radar. It was listed a few weeks ago but just went into the MLS this week:

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1905 Orchard was brand new in 2006 and sold for $3,100,000. It will be open on Sunday from 2:00-4:00.

And now, for some good news...2 homes went into escrow this week:

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5220 Castle has been on the market since October. 4344 Beulah is a cute house on a lovely lot in a great location. The lot is almost perfectly flat with Oak Trees out of the way for future building. After 3 weeks on the market, it sold with multiple offers.

3 homes closed escrow this week:

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4911 Vineta had multiple offers and sold for the asking price. Great location. 5188 Vista Miguel came on the market in June for $1,995,000. It reduced to $1,850,000 and went into escrow late last year. The closing was delayed because the sellers were waiting to complete their new home. 921 Regent Park sold in the first week.

The high end of La Canada has been hit particularly hard and most over $5,000,000 are seeing great reductions:

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4377 Commonwealth started last April at $7,600,000. It has had 5 reductions and is now under $5 million. 4363 Oakwood has only been on since January 21 but was just reduced $650,000. 4251 Commonwealth came on in July for $6,300,000 and is now almost $1,000,000 less.

Our spring market is barely breathing at this point. We usually see sales pick up in early February and we are still waiting! Private school acceptances and rejections go out next week so we are hopeful to see a flurry of activity in the coming weeks as families position themselves for the next school year.

I'll be holding 4741 Orange Knoll open this Sunday from 1:00-4:00. Please stop by!