Which homes are selling in La Canada?
It's easy to get carried away by statistics and because of that, I prefer to look at small segments of the Los Angeles real estate market.
In La Canada, six homes have closed escrow, month to date (per the MLS). These (month to date) homes are smaller and more affordable (by La Canada) standards. When smaller homes are selling, the average selling price is reduced (not because of falling prices but because inexpensive homes are selling). Yes, prices have dropped, but trying to determine a percentage is a bit difficult.
About the sales:
San Juan was a fixer, which sold over asking price
Indiana was near high tension lines (never good for resale)
La Canada was fairly close to the elementary school
Conle, is in the Sagebrush neighborhood and not the La Canada school district
Encinas offered a 12,000+ sq ft lot (near the elementary school)
Lombardy is a more typical La Canada "starter" home
In La Canada, six homes have closed escrow, month to date (per the MLS). These (month to date) homes are smaller and more affordable (by La Canada) standards. When smaller homes are selling, the average selling price is reduced (not because of falling prices but because inexpensive homes are selling). Yes, prices have dropped, but trying to determine a percentage is a bit difficult.
About the sales:
San Juan was a fixer, which sold over asking price
Indiana was near high tension lines (never good for resale)
La Canada was fairly close to the elementary school
Conle, is in the Sagebrush neighborhood and not the La Canada school district
Encinas offered a 12,000+ sq ft lot (near the elementary school)
Lombardy is a more typical La Canada "starter" home
Is 2316 Conle was sold for 780k?
I was looking at this house since May 2008, when the owner told us that there is too many offers and the bank not accepting any more offers.
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Yes, I believe it was a short sale.
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It was a really good deal!
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Appears that way, sometimes there is more to the story, than what is reported to the MLS. Hard to know for sure without an inside look at the transaction.
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