As a Realtor, it’s a fine line from being truthful to being negative.  The reality of our La Crescenta real estate market is that short sales and foreclosures comprise a sizeable chunk of our home sales.  I am not being negative, it’s a fact and one both buyers and sellers need to be aware of. 

What does that mean for La Crescenta home sellers and buyers?  Many homebuyers are making down payments of 20% and they don’t typically have the funds remaining for remodeling and fixing.   Short sales usually have more deferred maintenance than standard sales; people who are losing their home don’t often keep up with routine home maintenance. And with foreclosures either the lender has done a cheap rehab or the home is in distressed condition.  In this real estate market, homes in move in condition command a premium and that’s why I offer my sellers a complimentary home staging consultation prior to getting their home on the market.

There are 240 real estate agents with a La Crescenta business address and last month 28 homes sold. But the good news is that it was the highest number of homes sales in a one month period year to date.  Percentage of selling price to list price also increased.  The absorption rate decreased making it a seller's market.

Now for the not so good, average price per sq ft dropped, days on market increased) average selling price decreased as well.

These are facts and once armed with the facts both home buyers and sellers can make informed decisions.  If you have real estate questions, remember I am only a phone call or email away.