We have 42 active listings in La Canada. 4 listings are in Sagebrush, 20 are over $2,000,000 and only 2 are under $1,000,000. 7 of our active listings are new:
4315 Alta Canyada is on a private drive on the south side of the 210. The house last sold in 2003 for $520,000 and yes, it still overlooks the freeway. 5218 Escalante is in Sagebrush. 1251 Fernside last sold when it was brand new in 1997 for $610,000. it was one of 2 built at that time on a lot that was divided. This is the back house. It has loads of square footage and a nice back yard. 403 Gleneagles sold in 1982 for $234,000 and again in 1998 for $638,500. It looks like a Palm Springs modern on the outside and has views of the mountains. 600 Knight Way last sold in 1999 for $829,000. It is a great location in close proximity of PCY and features a pool and guest house. 4210 Hampstead sold in 2008 for $1,267,500. It has been updated since then. 814 Berkshire is like a charming hotel that you want to go stay at. Beautiful grounds with a pool and sport court, horse barn and chicken coop. It was very hard to go home to my little house after seeing this one yesterday.
10 homes have gone into escrow over the last 2 weeks in La Canada:
5259 Gould is a very clear example of how much the market has changed. It was listed early last year at the same price. It received no offers and eventually leased for $3200 per month. This year there were multiple offers well over the asking price. 804 Houseman, another example: last listed in 2011 for $799,000 when it languished on the market. It also eventually leased. This year, it sold within a week. 4801 Indianola received 9 offers and sold way over the asking price. It sold to a cash buyer with no contingencies. 300 Corona defies the current market trend. It last sold in 2006 for $1,100,000. This time it is about 9% lower. 4810 Viro was listed last year for $998,000 and ended up leasing. The current tenant painted and replace carpeting so it shows much better. It is in escrow after receiving multiple offers. 4912 Oakwood is in escrow again. Not sure why this one keeps falling out. 5231 Redwillow last sold in 1999 for $720,000. It has been remodeled. There were multiple offers on this property as well. 1110 Wiladonda, a modern with a guest house is in escrow after 2 months on the market. 833 Greenridge is in escrow for the second time. What is amazing about this market is that falling out of escrow is no longer a stain on a property. Chances are that the value went up a hair from the time you opened escrow to when escrow is cancelled so you can actually come back on the market and sell for more. 4319 Woodleigh is pending after receiving 3 offers.
12 homes have closed escrow in the last 2 weeks in La Canada:
1101 Lavender sold for almost $200,000 more than the asking price. 4539 Daleridge had multiple offers over the asking price. Ditto for 4836 Commonwealth, a tear-down on a nice lot. 4818 Crown was purchased in 2012 for $808,000 and flipped this year. It was updated. 4902 Alminar was listed for $998,000, then the price was increased to $1,100,000, went into escrow, fell out of escrow, was reduced to $1,050,000 and then sold. A word of advice to sellers, not a good idea to yank the price up after you have been on the market. It makes buyers not like you or your property. 1315 Green is lovely but sold for a crazy price. No back yard! 264 Knight Way sold quickly, yet under the asking price. 1705 Lila had 13 offers and sold $141,000 over the asking price. 4031 Hampstead has finally closed escrow after being off and on the market since early 2012. It has an inverted floor plan that buyers struggled with. 5047 Fallhaven sold quickly. It is in a wonderful location. The yard was on multiple levels, a negative for some buyers. 1113 Uintah has closed after falling out of escrow once. 4839 Gould had multiple offers and sold over asking. 639 Foxwood last sold in 2004 for $1,800,000. Great location but the house sits well below the street, an issue for some buyers. 509 Meadow Grove was once listed for $4,995,000 so the sale price makes it look like a bargain.
The new Case Schiller report is out confirming what we already knew...
I like a little bubble as much as the next person, it's the hangover after that I dread. I am still a bit shell shocked from 2008 but of course would trade this market for that one. Where do we go from here? At this rate 2006 prices are just around the corner. How can this be sustainable without massive job growth? Ok...deep breath. Have a wonderful Easter!
645 Durwood was flipped in 2005 for $1,395,000 but the current owners purchased it off market in 2007 for $1,545,000.
We have 45 active listings in La Canada (happy happy joy joy! Finally some inventory!). 8 of them are new or trying it again since the market is so strong:
A shining example of the market turn: 5259 Gould was on the market for almost 3 months at the beginning of 2012 and got little attention and no offers. Re-listed last week for the same price, the house received 9 offers and is selling over the asking price. Yippee! 4810 Viro was listed in 2010 for $1,029,000 and again in 2012 for $998,000. Both times it did not sell and was leased. The garage was coverted to an attached guest house (I believe with permit) and has a car port. We will see what the market bears for this one in a brisk market. 4921 Angeles Crest last sold in 1984 for $130,000 (and why is it that our government leaders continually say there is no inflation?). It looks charming and seems to be priced for the location (highway frontage). 5246 Donna Maria is on the east side of the street across from the power lines. It last sold in 2005 for $1,410,000. Most recently is was leased for $4600 per month. 645 Durwood sold as a major fixer to a flipper in February 2005 for $924,500. It was quickly updated and sold again in May 2005 for $1,395,000. It is a charming house with a pool. This sale will be another indicator of how close we are to 2005-2006 prices in the low-mid level LCF housing. 5246 Gould last sold in 2010 for $1,010,000 but don't hold that against it. Then it looked like this: Gould 2010. The owners have done an amazing job. I love the wallpaper and the dining room chairs. 4300 Beulah...another one that languished in the old market (listed in 2010 for 60 days listed fror $2,000,000 and reduced to $1,949,000). Despite an unusual floor plan it now looks like a pretty good deal. Great location near Descanso Drive.
5 homes went into escrow this week in La Canada:
1101 Lavender sold immediately with multiple offers. 4637 Rockland in Sagebrush is in escrow for the second time. 5169 Princess Anne is a charming old Ranch in need of major decluttering and fresh paint. It was on the market for 3 weeks before finding a buyer. 5034 Gould is a stunning new home right behind PCY. It sold with multiple offers. 509 Meadowgrove was on the market it 2011 for $4,995,000 and again in 2012 for 4 months. It has now come back in the MLS as pending.
4 homes closed escrow this week in La Canada:
5310 La Forest sold with multiple offers way over asking. It was a cash sale so it closed quickly. 5110 Crown was listed in 2009 for $1,520,000 but did not sell. This time it sold above that price within days of hitting the market. 4741 Hampton sold quickly and closed in 45 days. 2051 Los Amigos came on the market in August for $2,795,000 and had 3 reductions before selling.
I am trying a new format linking individual listing links to each property address. I would love feedback as to whether this is easier to navigate than posting all the actives, in escrow and closed together. Also important to mention that all of the MLS links that I post are only active for 30 days after posting. If you have questions on any properties from past posts that have inactive links, please email or comment. Have a great weekend!
As a parent, I was stunned about the suicide at LCHS last week. I know I am not alone:
A LCHS senior jumped off of one of the buildings on campus last Friday. As for the reasons, none of us know and it is almost degrading to speculate. All I know is that it makes me hold my children closer and do whatever I can to keep the lines of communication open. That being said, I have an 8 and 9 year-old. I have not figured out how to start the conversation about suicide. I do not want to introduce the idea of suicide as an option to my children. My children do not really know what happened last week. I answer questions only as they are being asked.
If you or your child needs help coping with this tragedy, LCHS offers the following resources:
We have 39 active listings in La Canada this week. 6 of them are new:
804 Houseman last sold in 2000 for $357,500. It was expanded and then put back on the market in 2007 for $899,000, then again in 2011 for $799,000. Both times it was shot down by the proximity to the freeway (across the street). It was leased in the meantime, most recently for $3550 per month. In this desperate time of low inventory, if the house does not sell it may never. Ditto for 221 Starlane. This is a lovely home but at $668 per square foot in Starlight Mesa...one has to wonder. 3852 Keswick last sold in 2001 for $1,475,000. At that time it was marketed as an "impeccably restored" home. Now the "needs TLC and upgrading" makes one think it has been abused over the last 12 years. Poor house. Amazing what can happen to a structure in just over a decade. 762 Greenridge last sold in 2006 for $2,556,000 after an extensive remodel by a "noted interior designer." That was back when we could all afford a noted interior designer. Yes, I am as bullish as the next agent when it comes to the direction the market is headed but to think we are 10% above 2006...no. 839 Chehalem was last listed in 2005 for $1,790,000 and did not sell. This time around they have an amazing agent (Michelle Ko from Kobeissi Properties). If anyone can pull a rabbit out of a hat it is Michelle so I will couch my opinion of this house for the time being. 5034 Gould is beautiful. The property last sold in 2007 for $1,120,000 for land value. The original home was raised and the new home was built in 2011. While the location is not for everyone (across from PCY playground), it works for families looking to establish roots in a wonderful neighborhood for young children.
6 homes have gone into escrow this week in La Canada:
1931 Parkdale...a dump in close proximity to both the 2 and the 210 sold immediately with multiple offers due to the price. 2014 Ahlin last sold in August for $407,000 to the agent who has it listed now. Here is what it looked like then-
The agent purchased the property and flipped it. There were multiple offers and a ferver that was not there last year. 1862 Foothill last sold in 2004 for $675,000. Citibank took it back in November for $708,000 ($883,000 was owed). It was listed with wonderful photos including the bathroom with the toilet seat up (I have been very up front about my hatred of toilet shots in the MLS...at least put the seat down). 1101 Lavendar is a vintage fixer on a large lot that attracted 20 offers. 4836 Commonwealth...this one is a little tricky if you are looking at it from the curb. The house fronts the back lot (magestic oak behind structure). The front lot is also in escrow (asking price $699,000). Wonderful location and almost a playground for builders. If only lending guidlines were back in the 2006 era my husband would have been thrilled to buy this property and build it. My understanding is that both the front and back lot are in escrow with the same builder. 603 Chatham last sold in 2005 for $2,500,000. It came on in Januray 2012 for $3,450,000 and was slowly reduced to $2,500,000. It is a very nice home, yet sits below the street and has very little usable yard.
4 homes have closed escrow this week in La Canada:
4170 Cambridge is a shining example of what went wrong in the last market upswing. It sold in 2001 for $695,000. Oozing with potential (and freeway noise) it sold again in 2007 for $1,450,000. The REO agent has reported the sale to the MLS at $799,000 yet no updated sale reports are available through title. Hmmmm....2012 Hilldale does have views yet is in the armpit of LCF (I can say this as I used to live on Hilldale), south of the 210 and west of the 2. 5078 Commonwealth sold off market...a charming house but the lot stepped quite a bit from the north side to the south. 1451 Descanso: clearly my aversion to the power lines does not play into the wack-a-doo market that we are in. Please consider listing your home if you are considering moving out of LCF. My little violin is breaking strings and can barely play the sad ballad of low inventory...