How much have Glendale home prices dropped?
Perusing the new listings, sales and “pendings” (in escrows) this morning in the MLS (multiple listing service) and noticed this home on Woodbury which just sold for $560,000. MLS Remarks read: “Spanish style 2-Story home, Remodeled Kitchen with Newer tile flooring, New cabinets, New appliances, New counter top. Hardwood floor in Living room, Guest bath at entry level, two bedroom plus Master Bedroom with fireplace downstairs. Large Balcony, Bay window, Brick BBQ. Must See!”
This home was purchased 10/03/05 for $675,000
MLS Remarks read: “BANK REPO.FIXER,GOOD NEIGHBORHOOD IN GLENDALE NEEDS WORK.HAS POTENTIAL. TAX ASSESSOR SHOWS 2 BEDROOM, 1 1/2 BATHROOMS. STEPDOWN SPACIOUS LIVINGROOM WITH PICTURESQUE WINDOW, HARDWOOD FLOORS & FIREPLACE. SEPARATE DINING ROOM NEXT TO LARGE KITCHEN COULD BE A FAMILYROOM. SOME HARDWOOD FLOORS. DOWNSTAIRS HAS A SMALL DEN AREA. LARGE MASTER BEDROOM SUITE WITH FIREPLACE,FULL BATH,WALK-IN CLOSET. 2 MORE BEDROOMS,BONUS ROOM & EXTRA CLOSET/STORAGE DOWNSTAIRS. 2LEVEL TERRACED BACKYARD WITH BRICK BARBEQUE AREA,FRUIT TREES & STORAGE SHED......"
It appears that AFTER the kitchen remodel the owner lost $115,000 in the market decline.
Phyllis, I'm quite impressed with your blog. I really appreciate how much information you provide to your clients. I have been reviewing other blogs around the country for a good one to emulate and you are definitely one of them. I'd love to establish a relationship with an agent in Los Angeles and vice versa. Keep up the great work.
Oh by the way, our home prices have dropped in certain areas as much as 45% since 2005, so if you have any investors, now is a great time to buy out here.
Felipe Crook
Prudential Americana Group Realtors
Las Vegas NV
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45% Wow! I recall the prices in some of the high rise buildings, and wondering how they could command those prices "out it the middle of the desert.."
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