La Canada Real Estate

Open Houses in La Canada this Superbowl Sunday

For MLS version click below:

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For printable version click below:

Download Open Houses 2.7.10.xlsx

La Canada Market Activity This Week

We have 72 active listings in La Canada. 9 of them are new or recycled:

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5117 Castle is in Sagebrush (Glendale schools). It sold in 2008 for $1,089,000. 5289 Haskell Street sold in 2008 for $1,300,000 and again in June 2009 for $1,150,000. 2340 Conle Way, also in Sagebrush was last listed in 2002 for $649,000. It did not sell then but is now on the market again 8 years later for almost twice the price. 5467 Burning Tree last sold in 2005 for $1,650,000. It was listed last year for $1,590,000 but took a break for the holidays. It is now back on for a slightly lower price. 4709 Oakwood (no photos at time of posting...surely the agent could dig up a digital camera!) last sold in 2007 for $1,515,000. Now on for more....with no photos. 925 Chehalem last sold in 2007 for $2,195,000. I think 2007 was the true height of the La Canada market. 348 Blythe is my home of the week (love it!). 1517 Olive was on last year for $3,448,000. It did not sell and is now back on the market. 4245 Mesa Vista is tucked away on a private drive. I've driven by it countless times (my sister lives up the street) and had no idea it was so big. The house shows very well and is immaculate. It features a pool, tennis court and koi ponds. The koi are gorgeous and have apparently been there since before the house was built.

1 house went into escrow this week in La Canada:

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1226 Olive, the charming Ranch on that big lot. It last sold in 2003 for $905,000. The current owner replaced the roof and upgraded electrical and HVAC. There were multiple offers.

2 homes closed escrow this week in La Canada:

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5025 Alta Canyada last sold in 2006 for $1,580,000. Since then the house went through a major face lift and was done to perfection, hence the higher sale price this time around. 5645 Bramblewood last sold in 2003 for $830,000 and then was expanded. It was on the market for 3 months before selling.

Have a safe and happy Super Bowl weekend!

Open Houses in La Canada this Sunday

For MLS Version click below:

http://itech.rapmls.com/scripts/mgrqispi.dll?APPNAME=Itech&PRGNAME=MLSLogin&ARGUMENT=HFDsIaPvYtvwH3EvXf%2Fp1CP9un0o%2BgRDZvXrGFMO328%3D&KeyRid=1&Include_Search_Criteria=

For Printable version click below:

Download Open Houses 1.31.10.xlsx

La Canada Market Activity This Week

We have 67 listings in La Canada. 4 of them are new:

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241 Starlane came on today. It last sold in 2004 for $835,000. Most homes in La Canada are not back to 2004 prices so this does not look out of the realm of possibility. 2340 Conle way is in Sagebrush in that small development to the west of Ocean View. No photos at the time of posting, but I am guessing it has a 70's or 80's vibe. 4075 Chevy Chase sold in 2002 for $750,000 and again in 2003 for $899,000. The buyer's children lived there and are apparently moving on. It is very cute and sits above the street. A bit hobbled by its actual square footage of 1884...it would be a tough appraisal at 1.2. 2208 Cross, also in Sagebrush on the corner of Castle Road, sold in 2002 for $699,950 and again in 2007 for $1,250,000...back when we were all drinking the Koolaid.

5 homes went into escrow this week as spring flirted with the market:

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2145 La Canada Crest #3 came on in October for $509,000 and had one reduction before selling. 370 San Juan way sold as a probate in September for $785,000. The buyer renovated and painted. Hardly a profitable flipper once sales costs are paid, but she really did improve the property. 1960 Lombardy came on the market with an already accepted offer. It is a short sale with no notice of default filed yet. It last sold in 2005 for $1,290,000. 3971 Robin Hill is a cool Mid-Mod with awesome views so no surprise that it sold (great location). 4159 Hampstead, again no surprise...I loved that house.

2 homes closed escrow in La Canada:

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5164 Redwillow came on in May for $879,000 and the seller waited over 7 months for the buyers...but they finally came. 339 Santa Inez is a major fixer but has a great lot.

So, nothing out of the ordinary or beyond expectation. Look for more listings after Super Bowl Sunday (Feb 7)...

La Canada Market Activity This Week

There are 68 active listings in La Canada. 9 of them are new or back on the market after a holiday hiatus:

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5401 Palm is north of the school on a fantastic lot. It has sort of a cool 50's feel with a nice living room overlooking the property. The master bedroom is on the top (living) level and another bedroom and lounge-like room with an empty spa are on the lower level with a decidedly Greg Brady-vibe. 1500 Descanso last sold in 2006 for $1,329,000 when it was listedfor $1,175,000. It sold again in 2008 for $1,150,000. Both buyers were planning to develop the property but were unable to, perhaps because construction loans were drying up. It is nice inside (small, just under 1700) and has a gorgeous backyard that borders Descanso Gardens. 227 Starlane last sold in 2003 for $725,500. It was listed in 2005 for $1,350,000 but did not sell. 1226 Olive last sold in 2003 for $905,000. It has loads of charm, a gorgeous lot and a new roof, HVAC and electrical panel. 4397 El Camino Corto sold in 2004 for $1,070,000 (listed for $999,000) and then again a year later for $1,320,000. While I know we should only look forward, it is hard to look at returns like that and not get a little teary about the boom years. 4882 Commonwealth last sold in 2006 for $2,400,000. It is on a little cul-de-sac north of the freeway. 4735 Vineta shows well but there is a bit of freeway noise. I haven't seen 792 Starlight Heights, a town home near the Country Club. And then there is 4337 Beulah...most recently on at the end of 2009 as a short sale for $899,000. I called the agent to ask if this new number is an approved short sale, but she hasn't called me back. I must admit to being a bit of a skeptic, but I really examined the history of this property and here is what I've come up with: in 2005 it sold as a tear-down for $986,000 to buyer #1. In 2006 it sold as a short sale to buyer #2 (looks like the Notice of Default was filed in January that year, it sold in July). Later in July 2006, title transfered back to buyer #1. In 2007 buyer #2 obtained a $1,600,000 construction loan against the property. In 2009, the Notice of Default was filed against buyer #2. I assume at some point buyer #1 quit-claimed back to buyer #2. Confused? I hate to use the F-word here (fraud). You decide.

2 homes went into escrow this week:

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1728 La Barranca was previously leased, then came on the market last year for $799,000 but did not sell. $700,000 is owed and it is now in escrow as a short sale. 4642 Alveo came on in October for $1,249,000 then reduced in November. It is a nice home, but all it is ever going to be. Curious to see where it closes.

3 homes closed escrow this week in La Canada:

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1622 Leycross last sold in 2005 for $940,000 and has basically been on the market since then at a myriad of different prices. This time, it listed for $924,000 in January 2009 and a year later it is closed. 5138 Redwillow last sold in 2006 for $880,000, proof that the 20-25% decline does not apply to all homes. 274 Baptiste listed in September for $1,149,000 and reduced in November. It last sold in 2002 for $780,000.

Be safe and drive slowly in this rain!

Open Houses this Sunday

For MLS Version click below:

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 For Printable version click below:

Download Open Houses 1.17.10.xlsx

Home of the Week

I can't say enough about 4159 Hampstead. As a family, we hike Cherry Canyon on Sundays. It is quiet and peaceful. As for the house, it is spacious with 5 bedrooms upstairs. while you may want to update, the floor plan works with all the bedrooms together and a big family room and bonus room. There is a pool and horse stalls and all of this is adjacent to the entrance of Cherry. What more could you ask for? I love this location because it is quiet and tucked away from freeway noise but it is still close to everything in La Canada and Cherry Canyon...an unsung hero of La Canada. I love the house and the property. If it were 2006 and loans were being handed out to anyone with a driver's license, I would buy this. Sure it needs a little glitter, but it could be a show place.

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La Canada Market Activity This Week

There are 62 active listings this week in La Canada. 7 of them are new (spring may be springing early!):

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4413 Indiana...Ok...sold as a foreclosure in November (2 months ago!!!) for $424,800. But wait...it gets better. At that price it was $524 per square foot, a hefty number in today's market. A bit of fluffing has gone on over the last 2 months and the listing agent wisely omitted the house measurement on the new listing (it is only 811 square feet). This rehabbed gem with a panoramic view of the power lines that must vibrate from the pulse of the freeway is now on the market for $862 per square foot. Are you kidding me? Onto bigger and better...4507 El Camino Corto is slightly challenged by the fact that it is on the corner of Foothill but it has a really nice, open floor plan and 4 house rabbits who make it worth going to see (my rabbits live in a $1400 custom-made hutch with buried chain link so they can dig a warren and not get out, but this bunny set-up made me feel sorry for them). 370 San Juan sold in a split second before caravan (probate with no court confirmation) in September for $785,000. The new owner has rehabbed the kitchen and baths, repainted the interior and exterior (it was a horrible yellow) and installed an incredible Ikea light fixture in the dining room. It shows much better this time around but will be hobbled on appraisal given what it sold for 4 months ago. 3971 Robin Hill is a great buy in a great location. 745 Lynnhaven is not available for preview or showings before caravan Tuesday but we all know the house with the reindeer topiary and the price is very nice. 1002 Ridgecliff has an almost Sopranos vibe with the interior but has amazing views. 4159 Hampstead is my home of the week.

3 homes went into escrow this week in La Canada:

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4609 Rockland last sold in 2007 for $845,000. It came back on the market 4 months later for $899,000 but did not sell. 903 Coral Way was listed in 2006 for $1,260,000. In 2006, if the house didn't sell, you knew there was a problem. As an REO, it came on $500,000 under that price and sold quickly. 5207 Starlight Mesa sold quickly as it was priced to move.

3 homes closed escrow this week in La Canada:

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1708 La Taza last sold in 2006 for $1,155,000. It was listed in 2007 for $1,390,000 and then reduced down to $1,189,000 before leasing. Now it has sold as a short sale for $435,000 less than the last sale price. No way of telling exactly when it went into escrow as many short sales are held open as actives even with and accepted offer until the bank approves the price. 1016 Fairview was listed in 2008 for $1,350,000 but did not sell. It came on again in August for $1,100,000 as a REO and had 3 reductions before selling. 4344 Hayman was in a great location. It was listed in April for $1,299,000 and rode the market down into short sale territory. It last sold in 2004 for $1,035,000 with a $724,500 loan. Over the years, the owner's refied and got lines of credit and ended with a $1,120,000 first with a $125,000 line of credit. Because the numbers were far less egregious than many other short sales, the bank approved the sale and closed within 60 days.

The Super Bowl has not happened yet but the market appears to be picking up. Wonderful news for buyers who want to take advantage of lower prices and get in in time to register for the school year. Things should really open up in February and March.

On another note, a friend and I have been going to Bikram Yoga in the Penguins (and now Jersey Mike's shopping area). I can't explain why we go, but we go. The trick is picking the right instructor. On Monday nights, this really lovely young girl takes you through the 26 moves but it is like 150 degrees and all you can think about is getting through the work out without melting into the (scary) carpet. I am not limber and the only pose that works for me is Savasana but because my friend is there I feel obligated (and motivated, oddly enough). Tonight, another equally nice young woman lead us through a blissfully 105 degree work out and it was awesome! The only thing I can say is as much as you hate it you will love it and you get all of this in La Canada! For $20...or if you commit as we did tonight $15 with a 10-class card. Or if you are a masochist you can sign up for the 60 classes in 60 day special, but I would rather be at Jersey Mike's downing the Sub-in-a-Tub (low carb!). And I have mastered Savasana...

La Canada Market Activity This Week

We have 57 active listings in La Canada. 3 of them are new:

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4515 Leata Lane last sold in September (4 months ago) for $555,000. The seller has cleaned it up and seems to think it is worth almost $150,000 more than he or she paid for it. Interesting. 5207 Starlight Mesa is part of the association on the hill near the Country Club. 809 Highland last sold in 2005 for $2,575,000. While it is in a great location, it is hard to justify the 20% increase in price from what was a very strong market. To be fair, I haven't seen it yet so I will withhold any other commentary.

1 home went into escrow this week:

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1139 Flintridge Avenue has been on the market since 2005 with 5 different agents. This time around, it started in June 2008 at $1,825,000 and has had 35 reductions. The sad part is that the house is in foreclosure and scheduled to be auctioned off on the 19th. The seller owes $800,000 so hopefully the sale will stop the action by the bank. The foreclosure site I subscribe to also has a February auction date for the same property, so know that there is mixed information on those sites. I have also noticed lots of duplicates, so the lists are not always accurate.

No homes closed escrow this week in La Canada, mostly because of the holidays. We should see closings next week. Janice has a phenomenal house on Hampstead coming on the market at $2,250,000. It will be in the MLS and Realtor.com tomorrow. Hang in there! Listings are coming on the market!

La Canada Market Activity This Week

So sorry for the delayed posting. We were in Telluride, Colorado at my step father's ranch. Since activity in La Canada this week is limited, I will report on this incredible property: It has been on the market since 2004 (ouch!). While timing is different in any market, the results are the same: over-priced = no sale = riding the market down. Originally the house was listed for about $6.8 (over 8,000 square feet on 93 acres). Now it is listed for $3,750,000...a screaming deal by LA standards. The house has 4 bedrooms, a large office, media room and an attached guest quarters with 2 additional bedrooms. The property is gorgeous so the only reason I can tell it has not sold is that the house is about a 30 minute drive from the ski run. If you are interested, please contact TD Smith, the listing agent:

http://www.christiesgreatestates.com/properties/view_7078/

(a snap of my son in front of the house) We drove there to avoid the probability of flight delays that plague Telluride in the winter. It was our first big family road trip and I have to say thanks to the DVD player, it was a smashing success!

Now back to the business at hand: We have 57 active listings in La Canada. 2 of them are new:

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4609 Rockland is in the Sagebrush area. It last sold in 2007 for $845,000. It was listed 1 month later for $899,000 then rode the market down. It is right up the street from Big Lots (aka Pic 'N Save) so it is a tough location in this market. It is bank owned. 1338 Journey's End, also bank-owned, is on a nice street but backs up to the power lines (contact SCE for more info). There is much debate over the potential health hazard from those lines plus they visually interrupt the scenery.

One house went into escrow in La Canada this week:

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1622 Leycross, finally bank-owned after all these years on the market. The house last sold in 2005 for $940,000. It came back on the market 5 months later for $1,195,000 (can you spell greed?). It stayed on the market for a few years at various prices up to $1.4. It did not sell and went back to the bank before coming back on at a reasonable price.

5 homes closed escrow while I was struggling down the slopes in Telluride:

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1640 Orange Tree last sold in 2008 for $600,000 (another sign that the bottom of the market has bottomed out). 4518 El Camino Corto was listed for most of 2009 for $849,500. It canceled in September and was re-listed in October for $799,500 and went into escrow soon after. 4947 revlon last sold in 2006 for $885,000. It was listed again in June for $920,000 but ended up selling short of the 2006 price this time around.  2264 Laughlin (Sagebrush) last sold in 2002 for $711,000. It was listed in 2008 for $1,549,000 and was reduced to $1,399,000 before falling off. It came back on in May for $999,000 and went into escrow as a short sale immediately. More than 6 months later, it has closed escrow. 2226 Richey, also in the Sagebrush sold immediately with multiple offers over the asking price.

That is all for this week but I am predicting a flurry of activity beginning in early February. While there is no rhyme or reason to this myth, the La Canada market really picks up after the Super Bowl and 2010 will be no exception. Cheers!