La Canada Real Estate

Open Houses this Sunday

For MLS version click on this link:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=Tw6mXXfO5ihBou0J%2B9BhLaQeoQ9NXGNVfqP0usTjoVQ%3D&KeyRid=1&Include_Search_Criteria=

For printable version click on this link:

Download Open Houses 11.01.09.xlsx

La Canada Market Activity This Week

We are holding steady with 70 active listings in La Canada. 2 of them are new:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=Tw6mXXfO5ihBou0J%2B9BhLfqNtyxXSiZwhHyWwdgvBZE%3D&KeyRid=1&Include_Search_Criteria=on

4178 Forrest Hill sold in 2005 for $1,082,000 and again in 2006 for $1,085,000. It is now listed as a short sale. The house is on a beautiful street in the Descanso neighborhood. 5138 Redwillow last sold in 2006 for $880,000. It was listed in 2007 for $969,000 but did not sell.

5 homes went into escrow this week:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=Tw6mXXfO5ihBou0J%2B9BhLUq5zR8MM30QnYnrWQAyJZ8%3D&KeyRid=1&Include_Search_Criteria=on

4621 Rockland Place has been off and on the market for sale or lease. This time around, it listed in September. 4921 Commonwealth sold in 2006 for $1,025,000. It was remodeled and updated before coming back on the market in January for $1,295,000. I t reduced to $1,179,000 before being cancelled in March. Now it is a short sale. They have an accepted offer but are accepting back-ups. The lender has not approved the amount so this could end up being a long process. 5403 Godbey was a pocket listing for a week before going into the MLS. It sold immediately. It is the only town home on Godbey with its own pool and has magnificent views. 660 Pomander went with multiple offers. 3751 Normandy was listed in May for $2,495,000 then quickly dropped to $1,995,000 and then again to the current list price. It was in escrow once before.

2 homes closed escrow this week:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=Tw6mXXfO5ihBou0J%2B9BhLQ3eksbNZVgwu2ODT6BvunA%3D&KeyRid=1&Include_Search_Criteria=on

4610 Commonwealth was my listing. The house is beautiful and it was priced for its location near the freeway. We had multiple offers and it sold over asking. 4323 Fairlawn is another victim of the high-end down-turn. It last sold in 2006 for $3,100,000. In that market, buyers did not seem bothered by the power lines. In this market, they became a huge problem that most buyers could not look past.

Inventory is still relatively low so the market just sputters along. We will see if the holiday season brings the usual slow down or if, like August, we are surprised by a flurry of activity. I am tired of trying to predict the market. If I talk to sellers, they have all read reports about the market going up. If I talk to buyers, they have all read reports that indicate the market is still going down. Only time will tell...

Open Houses this Sunday

For MLS version:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=Tw6mXXfO5ihBou0J%2B9BhLYuxU3MRUOlgQHyjylLih8w%3D&KeyRid=1&Include_Search_Criteria=

For Printable version:

Download Open Houses 10.25.09.xlsx

Things to do This Weekend

My family will be at the La Canada Elementary Halloween Haunt this Saturday from 10:00-4:00 at 4540 Encinas Drive (above Memorial Park). There will be wonderful food, treats, game booths and a silent auction. All proceeds benefit LCE. For more information:

http://lcepta.org/

Also this weekend are a whole slew of activities at Descanso Gardens starting at 9:00 am on Saturday

http://www.descansogardens.org/site/pumpkinfest.cfm

Loads to do in La Canada this weekend in preparation for Halloween!

Home of the Week

I haven't had a Home of the Week in a long time but I think this one is amazing for many reasons:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=Tw6mXXfO5ihBou0J%2B9BhLbMWvy1%2BtDRq5rie%2FG1j5rk%3D&KeyRid=1&Include_Search_Criteria=on

First of all, it is in a fabulous location in Flintridge (worth dealing with potential septic issues on down the road). There are 4 bedrooms and a den. If it were me, I would open up the kitchen and make the fourth bedroom and den an open family room. There is not an enormous amount of flat yard but it is on a cul-de-sac so I wouldn't hesitate to let my kids ride bikes out in front. I love the architecture and the fact that the house is one-story so it works for all sorts of buyers. Definitely the best think that has come on the market in several weeks...no open houses scheduled at this time.

La Canada Market Activity This Week

There are 71 active listings in La Canada. 5 of them are new:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=Tw6mXXfO5ihBou0J%2B9BhLQHQE9PY%2Fs7FsAGa3KbOvck%3D&KeyRid=1&Include_Search_Criteria=

4921 Commonwealth is a short sale. It last sold in 2005 for $1,025,000 and was a fixer. It was purchased with an $820,000 loan, $205,000 down. The current owner totally renovated the house and from a title search, was able to pull an addition $300,000 out of the house. That translates into a difficult short sale where there is a 2nd and probably a 3rd lien holder who will not be paid if the short sale is approved. 660 Pomander is my home of the week. 4646 Palm sits on a flag lot and last sold in 2008 for $975,000. No square footage was added though the existing structure was completely remodeled. In the first week, it has been reduced from $1,665,000 to $1,595,000. The price per square foot is crazy! 334 St. Katherine is an awesome 60's modern on a knoll with incredible views. 835 Berkshire sold in 2003 for $1,660,000 (then owned by a friend of my husband's who offered us the property for $1.2 in 2002...we declined so please do not take advice from me!). It was leased until 2007 when it was listed for $2,900,000 and sold for $3,125,000 in multiples. It has been leased since then while the current owners had plans drawn. I have no idea why they are putting it on the market now. It is an unbelievable piece of property for someone who wants to build a mansion...

5 homes went into escrow this week:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=Tw6mXXfO5ihBou0J%2B9BhLTX4Sdfk4nSN4roycHvPTlM%3D&KeyRid=1&Include_Search_Criteria=on

4531 Leata last sold in 2004 for $549,000. It came on the market in August, went into escrow and then fell out. This escrow is the second time around. Ditto for 1123 Inverness, originally listed for $999,000. And Oy!4816 Palm was listed in June for $1,249,000. It is on a flag lot and has had 6 reductions. It is now a short sale and has found a buyer willing to weather the emotional roller coaster of dealing with the lender(s). 4611 Vineta came on in March and has had 3 reductions. It is a nice house on a fabulous street, hobbled by the fact that it backs up to the freeway. 5239 Harter was listed in March for $1,950,000. It is a lovely home but most of the yard is in the front.

6 homes closed escrow this week (residual from our phenomenal summer market):

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=Tw6mXXfO5ihBou0J%2B9BhLYCCB2DDy0G2MjG2iX3axO4%3D&KeyRid=1&Include_Search_Criteria=on

277 Baptiste sold with multiple offers well over asking. 4393 Chevy Chase came on in June. It is on a flag lot. 140 INverness came on in May for $1,395,000. It had 2 big reductions before selling. 4815 Alta Canyada actually faced Torcida and had a nice lot. it sold with multiples over asking. 4816 Hillard also sold with multiples. It had a lovely back yard and guest house. 1633 Orange Tree sold in 2006 for $685,000 and then was expanded and remodeled in 2007. It was last listed upon completion at $1,590,000. This time around it was listed on the incredibly reasonable side and sold with multiples over asking.

So...I keep talking about how slow the market is yet homes are selling. Our closings were big this week which helps the market perspective. More will be revealed...

Open Houses this Sunday

For MLS version click below:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=Tw6mXXfO5ihBou0J%2B9BhLXVeIyj9IsU7fdAbcTkrlTI%3D&KeyRid=1&Include_Search_Criteria=

For printable list click below:

Download Open Houses 10.18.09.xlsx

A Bit About the School Board

I am voting for Susan Boyd. A friend asked me to host a coffee for her, so I did. I am very impressed with her experience on the board and the PTA. She has a business back ground and it is apparent when she talks about La Canada schools. She helped to implement drug-sniffing dogs at the high school (as wonderful as LC is, we are not exempt from those issues), bridge the gap between girl's and boy's sports programs and helped increase budgetary reserves that maintain or reduce class size. I also just really liked her, on that mom-to-mom level. I have yet to research the other candidates, but I will be doing that before the elections on November 3rd.

La Canada Market Activity This Week

We have 73 active listings in La Canada. 5 of them are new:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=Tw6mXXfO5ihBou0J%2B9BhLYWBp68ScsXmajBJeDyFTY4%3D&KeyRid=1&Include_Search_Criteria=on

415 Paulette...OK, not exactly new. It was listed in August for $1,050,000 and went down to $895,000. It was withdrawn and is now a short sale at a much lower price. Similar situation with 1622 Leycross. It sold in 2005 for $940,000. It was listed in 2006 for $1,195,000, then got a new agent at $1,050,000. The seller's fortunes must have changed because in 2007 the price went up to $1,425,000 with yet another agent. Of course, it did not sell. In 2009, it was listed with a new agent for $1,025,000 but expired one month ago. Now, still gasping for air, it is listed with the local foreclosure king Henry Suarez for right around what it sold for in 2005. 4736 Hayman (above Foothill) sold in 2004 for $817,000 and again in 2006 for $1,210,000. It has been leased since then. The price looks realistic this time around...660 Pomander is in a fabulous neighborhood. I haven't seen it yet. Showings start Tuesday. 3870 Chevy Chase sits below the street. It is a bit dark but the lot os beautiful. It is in a very slow-moving price range.

3 homes went into escrow this week in La Canada:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=Tw6mXXfO5ihBou0J%2B9BhLRZeQs4D0w5FL0%2FXscJN8ac%3D&KeyRid=1&Include_Search_Criteria=on

4614 Grand was listed in 2006 for $1,199,000. It reduced to $1,055,000 but did not sell. It came on again in 2008 for $1,065,000 and reduced down to $875,000. By this point, it was headed to a short sale. It took until July of this year for it to come on the market as an official short sale. It is cute, but freeway close. 4376 Beulah is a darling 2 bedroom with a guest house and pool. It sold with multiple offers. 5555 Burning Tree last sold in 2004 for $1,300,000. In 2009 it came on the market for $1,550,000 and then expired. The new agent who is apparently too busy to take photos (none posted at time of this post) priced it aggressively.

3 home closed escrow this week in La Canada:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=Tw6mXXfO5ihBou0J%2B9BhLXqjE1sUGEQbnLaZFHiRdL8%3D&KeyRid=1&Include_Search_Criteria=on

1051 Vista del Valle was a flag lot that sold over asking with multiple offers. 5534 Rock Castle last sold as a fixer in 2007 for $870,000. It has been listed since 2008, beginning with a price of $1,350,000. 1238 Homewood sits in a great location near Descanso Gardens. The house needed a little cosmetic, but was hardly a fixer. It was listed in April for $2,088,000 and was reduced once before selling.

The market is slow like molasses. Where are all those great listings that are supposed to be coming on? If you are waiting to sell in the busy spring months, perhaps reconsider. The market is starved right now for good product and there is little competition. Buyers are out there but they have seen everything available and want something new and exciting to look at. Interest rates are low. Who knows how long that will last (if you do know, please tell me!)

Open Houses this Sunday

For the MLS version click below:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=Tw6mXXfO5ihBou0J%2B9BhLVe7WOpreVMib52C3ZAWwEU%3D&KeyRid=1&Include_Search_Criteria=

For Printable version click below:

Download Open Houses 10.11.09.xlsx