More Short Pay Stats
In Glendale, La Crescenta and LaCanada there are currently 20 homes listed for sale, subject to lender’s approval of short pay off. In the past 6 months only one has closed escrow.
By examining them, you will notice that some of the owners aren't having difficulty due to market stabilization but because they have been taking their equity out of the house.
Glendale 91206, List Price $749,000
Purchased 12/06 $1,080,010
Glendale 92102, List Price $449,000
Purchased 8/03 $405,000
Glendale 91201, List Price $539,000
Purchased 6/05 $635,006
Glendale 91201, List Price $599,900
Purchased 8/05 $580,000
Glendale 91202, List Price $649,000
Purchased 10/05 $699,006
Glendale 91201, List Price $699,000
Purchased 6/06 $865,008
Glendale 91202, List Price $729,000
Purchased 10/05 $875,008
Glendale 91201, List Price $839,000
Purchased 7/02 $460,000
Glendale 91207, List Price $690,000
Purchased 6/06 $751,007
Glendale 91206, List Price $699,000
Purchased 10/95 $174,001
Glendale 91208, List Price $699,000
Purchased 7/05 $690,006
Glendale 91206, List Price $345,000
Purchased 3/07 $525,000
Glendale 91206 List Price $498,000
Purchased 10/05 $560,005
Sagebrush Area, La Canada, List Price $1,050,000
Purchased 6/06 $1,050,000
Descanso Area, La Canada, List Price $1,197,000
Purchased 4/07 $1,400,014
Deodar Area, La Canada, List Price $1,400,000
Purchased 1/04 $950,007
La Crescenta, List Price $450,000
Purchased 6/02 $315,000
La Crescenta, List Price $499,900
Purchased 3/06 $503,005
La Crescenta, List Price $598,500
Purchased 1/18 $268,500
La Crescenta, List Price $729,000
Purchased 3/07 $729,007
The sale was in Glendale's Verdugo Woodlands and sold at $774,000, purchased 9/05 for $905,009. And the only short sale in these neighborhoods in the past six months. So the above homes will either sell via short sale, go through foreclosure or the owner will continue to make payments and keep their home. But the asking prices are all over the board….and while the lender may be willing to take a loss through a short sale; the lender’s goal in a sale is to sell for market value.
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7/22/2008 3:30 PM
Los Angeles Real Estate Blog wrote:
Last week, saw two foreclosures, both in Glendale: Rossmoyne (neighborhood) Purchased in August of 2002 $417,000Listed for 119 days, expiring in 2007 for $785,000Relisted at $651,000 for 298 days as a short sale for $651,00 - another Glendale short sale that didn't sellAt time of foreclosure $668,000 owed arrears. Glendale Adams Hill Interestingly this was a home where the former owner (owner prior to the foreclosed owner) was also unsettled. This home was on and off the market without selling in 2001 -
7/22/2008 3:31 PM
Los Angeles Real Estate Blog wrote:
Last week, saw two foreclosures, both in Glendale: Rossmoyne (neighborhood) Purchased in August of 2002 $417,000Listed for 119 days, expiring in 2007 for $785,000Relisted at $651,000 for 298 days as a short sale for $651,00 - another Glendale short sale that didn't sellAt time of foreclosure $668,000 owed arrears. Glendale Adams Hill Interestingly this was a home where a recent former owner (prior to the foreclosed owner) was also unsettled. This home was on and off the market without selling in 2001 -
7/22/2008 3:49 PM
Los Angeles Real Estate Blog wrote:
Last week, saw two foreclosures, both Glendale: Rossmoyne (neighborhood) Purchased in August of 2002 $417,000Listed for 119 days, expiring in 2007 for $785,000Relisted at $651,000 for 298 days as a short sale for $651,00 - another Glendale short sale that didn't sellAt time of foreclosure $668,000 owed arrears. Adams Hill (adjacent)Interestingly this was a home where a recent former owner (prior to the foreclosed owner) was also unsettled. This home was on and off the market without selling in 2001 -
7/22/2008 6:40 PM
Los Angeles Real Estate Blog wrote:
Last week, saw two foreclosures, both Glendale: Rossmoyne (neighborhood) Purchased in August of 2002 $417,000Listed for 119 days, expiring in 2007 for $785,000Relisted at $651,000 for 298 days as a short sale for $651,00 - another Glendale short sale that didn't sellAt time of foreclosure $668,000 owed arrears. Adams Hill (adjacent)Interestingly this was a home where a recent former owner (prior to the foreclosed owner) was also unsettled. This home was on and off the market without selling in 2001
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