La Canada Real Estate

OPEN HOUSES THIS SUNDAY JUNE 28TH 2009

To view this Sunday's Open Houses click on this link:

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For  a printable list of Open Houses this Sunday click on this link:

Download OpenHouses6_28_09

Something to do Saturday!

Please join the Pasadena Animal League of the Pasadena Humane Society & SPCA (PAL) for "Artistic License," an evening of art, music and food to benefit the animals and programs at the shelter. The event is held at a private residence and features an art auction, fabulous food from the Spitfire Grill and a full bar. I am the president of PAL and have been involved with this group and event since 1999. It is a cause close to my heart!

  

Tickets are available at the door. Please call for location!

La Canada Market Activity This Week

We have 119 active listings in La Canada. 4 of them are new:

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1119 Atlee last sold in 2002 for $694,000. It was priced very aggressively and they reviewed offers today. I heard they had 26! 5830 Angeles Crest last sold in 2003 for $1,270,000. It is now a short sale, listed at $250 per square foot. While that seems very low, you have to factor in the location and the style of the home that justify the price. 2245 San Gorgonio is in Sagebrush off of Ocean View Blvd. It is new construction, but priced on the high side. 535 Berkshire sits on a beautiful 1-acre plus lot on a private drive. It has a separate suite with an outside access and plenty of room for a pool.

5 homes went into escrow this week in La Canada:

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404 Canon de Paraiso was a fixer and sold after about 1 month on the market. 271 Starlane has been on the market for 5 months. When it came on the market for $1,357,500 it was tenant occupied. It reduced over $200,000 then opened escrow 3 months later. 1127 Atlee sold in 2003 for $635,000 then again in 2006 for $830,000. The current owners listed it in 2008 for $899,000 but it did not sell. This time, it appears to have sold off market as it was reported only when the property went pending. The seller is taking a large loss. 750 Wendover came on the market in April for $1,795,000. It's views and lovely kitchen did not tempt a buyer until the house was reduced $300,000. 2052 Lyans last sold in 2007 for $1,975,000. It was listed in May for $1,825,000.

5 homes closed escrow this week in La Canada:

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787 Starlight Heights sold in 2002 for $822,000. It listed in April for $888,000 and was in escrow within a month. 207 Starlane was listed in June 2008 for $1,159,000. It reduced many months later and finally found a buyer in April. 5216 Bramblewood last sold in 2003 for $1,200,000. This time around it was on the market for 6 months and had 2 reductions. 4606 Palm was listed in January for $1,495,000. It had 2 $100,000 reduction before selling. 5224 Bubbling Well had multiple offers and sold immediately.

On another note, did you read the article in the LA Times about La Canada High School? While it brings up flaws in the public school system in general, it certainly makes me grateful to live in this community. Read it here:

http://www.latimes.com/news/local/la-me-11thgrade22-2009jun22,0,2883533.story

Perfect time to plug Measure LC! Have you sent your ballot in? Every vote counts! There is a "Margaritas for Measure LC" party at Urban Army Pilates and Fitness Studio (645 Foothill) at 7:30 Tuesday, June 30. Ihopefully it is a pre-celebration...RSVP to Jennifer 818-636-9778

 

 

OPEN HOUSES THIS WEEKEND

Click on this link for Open Houses this weekend:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=TaM1C53AX6x3JT8LoIX3TaSEg98yTZWY%2FFYt%2FQkKN4s%3D&KeyRid=1&Include_Search_Criteria=

For a printable version click link below:

Download Open Houses 6_21_09 Sheet1

What is happening on Foothill?

As I angrily inched my way up Foothill today I watched the crosswalk on Foothill and Angeles Crest being replaced again. Haven't we done this before? So I called our wonderfully accessible city for some answers. I spoke to Michael in Public Works. Apparently, the bricks are defective and have been recalled. The manufacturer is replacing the bricks, so at least this is not costing the city a penny. All of the work on Foothill will be complete by the end of next week. Then work begins on the Angeles Crest crosswalk. There will also be asphalt repair from the damage caused by the truck accident. That will be covered by an insurance company, presumably the truck driver's. I learned something else today. The City of La Canada is responsible for Angeles Crest south of the freeway only. Cal Trans is in charge of the rest of it. A little LC factoid for your information...

Home of the Week

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4926 Palm last sold at the end of 2003 for $1,220,000. At the time it was owned by architect Craig Stoddard and his wife Marion, an interior designer. They did a fabulous job updating and expanding the home. It features 4 bedrooms upstairs including the master suite. There is a spacious family room that opens to the back patio and guest house. The yard is big enough for a pool. This is perfect for a big or extended family or for someone who works from home. The house will be open on Sunday from 2:00-4:00.

Check back tomorrow for the new open house list!

La Canada Market Activity This Week

We have 117 active listings in La Canada. 4 of them are new:

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350 Santa Inez Way is a bank-owned 50's modern. It has a fabulous open floor plan with 4 bedrooms and 2 baths. Offers will be reviewed by the bank at noon on June 24. Given the price and location, there will probably be several. Buyers can get discouraged by multiple offer situations in this market, but this home is definitely worth throwing your hat into the ring. 1433 Olive has been in the same family since 1969. It is on a flag lot. 1117 Sheraton is in a great location south of Foothill. It is being sold by a trust but requires no court confirmation. 4926 Palm is my home of the week...

5 homes went into escrow this week in La Canada:

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4619 Ocean View hasn't been on the market since 1998. It features guest quarters. 348 Baptiste is under contract after one week on the market. I believe they had 2 offers. 5039 Angeles Crest, after 522 days on the market, is in escrow. In January 2008, it came on the market for $1,695,000. It reduced a couple of months later to $1,595,000 and went into escrow. Unfortunately for the sellers, it fell out shortly thereafter. Now priced almost $400,000 less, it is once again in escrow. I actually love the house...a sprawling hacienda with a big lot. The issue is the house in front of it (horrendous) but at the right price it will be a good deal for the buyers. 172 Lamour last sold in 2005 for $1,195,000. It came on the market in November for $1,349,000. 4730 Oakwood last sold in 2004 for $900,000. It was completely renovated by the current owners. They listed it in February for $1,549,000 and reduced. The listing had actually been withdrawn when a buyer finally came through with an offer. I find it is always darkest before the dawn in real estate.

4 homes closed escrow this week:

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1959 Lamp Post was bank owned and had many offers. It listed for $774,900 and sold wellover asking. 5025 Jarvis was a great Ranch high in the deodars. 4335 Oakwood listed in March for $2,495,000. Gorgeous house in a great location. It's houses like that the emphasize how much the market has changed. 2 years ago it would have flown off the shelf for at least 20% more. 1925 Tondolea is a bright spot in our market. It was a perfect situation for the seller as the buyer had to buy quickly to get her children into the schools and sports. At $619 per square foot, it will help with many appraisals for the next 3 months.

Happy Father's Day!

La Canada Market Activity This Week

There are 121 active listings in La Canada. 6 of them are new:

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4393 Chevy Chase last sold in 1993. It is in a good location on a nice lot. The house will be open Sunday from 1:00-4:00. 4947 Revlon last sold in 2006 for $885,000. It is on a corner so the yard is on the small side. 348 Baptiste was leased last year for $3600 and is now on the market for sale. It backs up to the water company. 1703 Verdugo last sold in 2003 for $775,000. It is a lovely home on a nice lot. The challenge is the location. 549 Paulette is completely renovated with views. The only drawback is the steep driveway, but it is definitely worth seeing. I shows beautifully and all of the finishes add to the charm. It is a one level home with a finished basement. The large backyard features a pool. The house will be open on Sunday from 2:00-4:00. 463 Richmond is one that has been off and on the market. It last sold in 2004 for $1,850,000. It was listed in January 2008 for $2,695,000. Then it was put up for lease. It didn't lease. It was staged and re-listed with another agent for the same price. It was finally pulled off the market last July. It is now on again for $300,000 less. We will see if the new price overshadows the location behind commercial buildings on Foothill.

3 homes went into escrow this week in La Canada:

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4453 Rosebank last sold in 2006 for $669,000. It took 2 weeks to sell at the new low price. 1050 Stratford was listed in 2003 and again in 2004 for $1,475,000. It did not sell then. This time around, it came on at an incredibly aggressive price ($323 per square foot!) and had 16 offers. It is in escrow well over the asking price. 4536 Rockland sold as unfinished, bank-owned construction in 2008 for $520,000. It was completed and listed in March for $1,295,000. They had one reduction before going into escrow.

2 homes closed escrow this week in La Canada:

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5055 Westlope was listed at the end of March and sold quickly. It just closed over the asking price. 5444 Castle Knoll is a lovely renovated home that was originally listed for $1,675,000. It reduced once and sold for the new price.

Things are slowing down as we head into summer. Houses that do not sell will either reduce or go off the market until fall when sales volume historically picks up again. Next week, we are adding a new feature to the blog...a printable open house list sorted by location to make your Sunday home touring easier. Have a wonderful weekend...

La Canada Market Activity This Week

There are 125 active listings in La Canada. 3 of them are new or "reconditioned "(re-listed with a new agent at a new price):

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4319 La Granada Way last sold in 2006 for $1,100,000. It has been leased since then. One has to wonder how a house that has been leased for the last 3 years while the market has gone down is now worth 20% more, especially a house in a challenged location with a spectacular front and center view of the 210 freeway. 5326 Angeles Crest last sold as a brand new home at the beginning of 2002 for $1,710,000. It was on the market for 9 months in 2005 for $3,390,000 and did not sell. Now, with the market down at least 20% since then they have put it back on the market for approximately 1.2% less. Hmmm...And 777 Georgian (reconditioned) last sold in 2007 after more than a year on the market for $4,250,000. The people who bought it updated the property (painting the outside was a huge improvement) and listed it in October 2008 for $5,995,000. It is now on the market at the reduced price of $5,000,000 with a new agent.

6 homes went into escrow this week in La Canada:

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4733 Oakwood listed in February for $835,000 and reduced twice before selling. Finally my 4815 Daleridge is in escrow after 2 reductions and almost 3 months. Once we reduced to $899, we had multiple offers. 4835 Oakwood is in escrow after 2 months and one reduction. 4606 Palm listed in February for $1,499,000 and had 2 significant reductions before selling. 791 Saint Katherine listed in September for $2,270,000 and has had 3 big reductions, the most recent in May. 4449 Commonwealth sold in 2004 for $2,970,000 and again in 2005 for $3,100,000. It listed this time around in February for $3,495,000 and had a $300,000 reduction before selling.

We had 5 homes close escrow this week in La Canada:

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4538 Belita sold before it hit the market. It is a cute 3 bedroom home. 4620 Alta Canyada sold quickly but had a long escrow. It was was not updated but in good condition. 5289 Haskell sold last year for $1,300,000. The owners had plans for an addition drawn and then put it back on the market for $1,258,000 in January and reduced in March before selling for about 12% less than they paid for it. 310 Canon de Paraiso sold within 2 weeks of listing. 2114 Cross Street in Sagebrush listed in January for $1,799,000 and reduced twice before selling. Inventory is inching down as sales begin to out pace new listings. Contradictory reports on the economy make it almost impossible to predict what the next year will look like. Negative amortized loans are resetting early next year and we will see another wave of foreclosures, hopefully not too many in La Canada. Look for longer contingency periods as Bank of America and Wells Fargo dominate the loan markets and drag their feet on appraisals.

But I don't want to end on a down note...1330 El Vago will be open on Sunday from 2:00-4:00, hosted by my faithful assistant Jenny Sukys and featuring fresh baked cookies from Kristensbakery.com. Also open are:

639 Foxwood 2:00-4:00

4735 Alta Canyada 2:00-4:00 (great new price of $2,295,000)

4343 Chevy Chase 2:00-4:00 (great new price of $1,995,000)

4355 Oakwood 2:00-4:00

Have a wonderful weekend!