La Canada Market Activity This Week

We have 55 active listings in La Canada. 5 of them are new:

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4413 Indiana last sold in 2009 for $424,000. It has been updated and fluffed since then. 5109 Angeles Crest last sold in 2003 for $457,000. It was in default last year listed as a short sale. It went on the auction block and sold to an investment group for $381,600 last fall. There was a first for $540,000 and a line of credit for $209,000 (ie:lender ate it). 4848 Hampton is an incredible price for the location. The house is charming. 30 gallons of white paint will make it a bright little cottage in PCY. 4831 Angeles Crest Highway looks nice but busy street (Highway). 5238 Angeles Crest Highway is on a private drive off the south side of ACH overlooking Valley Crest. It last sold for $1,710,000 in 2002 and was listed again in 2006 and 2010 around $3,300,000.  It did not sell.

3 homes went into escrow this week in La Canada:

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4855 Ocean View (Sagebrush) sold in less than a week. 308  Baptiste has been on for 5 months. While photos hardly sell a house, posting only 2 photos in the MLS does not help. 4008 Dover sold within 2 weeks...lovely fixer on a large lot.

2 homes closed escrow in La Canada this week:

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4818 Crown sold with multiple offers well over asking. 2134 Lyans also sold quickly. Price reflects the difference between LC schools and Glendale schools in Sagebrush.

I'd like to say that is it for our market but did you see the Valley Sun today? Shame on them for quoting a local Realtor that no one has ever heard of. "According to statistics provided by the Multiple Listing Service," I have found that "local Realtor" Keith Sorem has not sold a property in La Canada in the last several years (I went back to 2008) so I question the validity of his opinion. Apparently it is front page news that LCF sales volume dropped 9% last year...a huge surprise since new listings dropped more than 9% last year. I am grateful to Sam Buchanan for being the voice of reason in the article. Not only does he live in La Canada but he works here and actually sees the homes that Mr. Sorem merely comments on. After a quick search of "statistics provided by the Multiple Listing Service" I see that Glendale also has a back log of unsold, presumably overpriced homes on the market. So thank you Valley Sun and Keith Sorem, member of the Glendale Board and not PFAR, for teaching something none of us knew...if it is overpriced, it will not sell. "Fear is the path to the dark side"-Yoda. But maybe it sells newspapers.