I report on the same statistics every time, and I’ll tell you if that number is more or less than the last report- it’s kind of like a stock market ticker. Note the change of value mentioned in the parentheses below for the difference between this market update and last market update. This way, you will have a weekly update for a sense of how your home’s “value” is trending.

Here are the statistics:

Active- the single family homes available at the time I pull the report

In Escrow- all single family homes under contract at the time I pull the report

Sold- all single family homes that closed escrow within 6 months from the time I pull the report

Median Price (Med. Price)- the median price all single family homes that sold within 6 months from the time I pull the report.

Days on Market (DOM)- the average days it takes to put a home under contract

So, here it is, Rossmoyne, your updated market watch:

May 24: Active: 16 (+5), In Escrow: 12 (+1), Sold: 29 (-3), Med Price: $840,000 (+$20K), DOM: 60 (-5)

May 17: Active: 11 (+0), In Escrow: 11 (+2), Sold: 32 (+0), Med Price: $820,000 (+$0K), DOM: 65 (+0)

May 10: Active: 11 (+2), In Escrow: 9 (-4), Sold: 32 (+2), Med Price: $820,000 (+$60K), DOM: 65 (+0)

May 3: Active: 9 (-5), In Escrow: 13 (+4), Sold: 29 (+0), Med Price: $760,000 (+$0K), DOM: 65 (+2)

April 26: Active: 14 (+4), In Escrow: 9 (-5), Sold: 29 (-2), Med Price: $760,000 (+$10K), DOM: 63 (+3)

April 19: Active: 10 (+1), In Escrow: 14 (-1), Sold: 31 (-2), Med Price: $750,000 (+$40K), DOM: 60 (+3)

April 12: Active: 9 (-2), In Escrow: 15 (+2), Sold: 33 (+1), Med Price: $710,000 (+$5K), DOM: 57 (-1)

April 5: Active: 11 (+0), In Escrow: 13 (+0), Sold: 32 (+1), Med Price: $705,000 (+$20K), DOM: 58 (+0)

March 29: Active: 11 (+6), In Escrow: 13 (-1), Sold: 31 (-3), Med Price: $685,000 (+$12K), DOM: 58 (+2)

March 22: Active: 5 (-2), In Escrow: 14 (+1), Sold: 34 (-1), Med Price: $673,000 (+$2K), DOM: 56 (-1)

Check back again next week for another update.

I hope you are continuing to revisit the site weekly for this valuable information about the market near your home!

I report on the same statistics every time, and I’ll tell you if that number is more or less than the last report- it’s kind of like a stock market ticker. Note the change of value mentioned in the parentheses below for the difference between this market update and last market update. This way, you will have a weekly update for a sense of how your home’s “value” is trending.

Here are the statistics:

Active- the single family homes available at the time I pull the report

In Escrow- all single family homes under contract at the time I pull the report

Sold- all single family homes that closed escrow within 6 months from the time I pull the report

Median Price (Med. Price)- the median price all single family homes that sold within 6 months from the time I pull the report.

Days on Market (DOM)- the average days it takes to put a home under contract

So, here it is, Montrose , your updated market watch:

May 24: Active: 22 (+0), In Escrow: 23 (+1), Sold: 65 (+2), Med Price: $750,000 (+$0K), DOM: 66 (+2)

May 17: Active: 22 (+1), In Escrow: 22 (+4), Sold: 63 (-1), Med Price: $750,000 (+$6K), DOM: 68 (+0)

May 10: Active: 21 (+2), In Escrow: 18 (-2), Sold: 64 (+3), Med Price: $744,000 (-$6K), DOM: 68 (-2)

May 3: Active: 19 (+3), In Escrow: 20 (-1), Sold: 61 (-1), Med Price: $750,000 (+$29.4K), DOM: 70 (-5)

April 26: Active: 16 (-2), In Escrow: 21 (-3), Sold: 62 (+3), Med Price: $720,600 (-$4.9K), DOM: 75 (-2)

April 19: Active: 18 (-3), In Escrow: 24 (+2), Sold: 59 (-1), Med Price: $725,500 (-$4.5K), DOM: 77 (+3)

April 12: Active: 21 (+0), In Escrow: 22 (-3), Sold: 60 (+0), Med Price: $730,000 (+$22.5K), DOM: 74 (-1)

April 5: Active: 21 (+0), In Escrow: 25 (+0), Sold: 60 (-1), Med Price: $707,500 (-$2.5K), DOM: 75 (+1)

March 29: Active: 21 (+5), In Escrow: 25 (-5), Sold: 61 (+1), Med Price: $710,000 (+$12.5K), DOM: 74 (+1)

March 22: Active: 16 (-2), In Escrow: 30 (+3), Sold: 60 (-2), Med Price: $697,500 (+$7.5K), DOM: 73 (+3)

Check back again next week for another update.

I hope you are continuing to revisit the site weekly for this valuable information about the market near your home!

Here is a sample of homes available for sale in Montrose and Verdugo Woodlands.

I report on the same statistics every time, and I’ll tell you if that number is more or less than the last report- it’s kind of like a stock market ticker. Next week I will note the change of value in parentheses for the difference between this market update and last market update. This way, you will have a weekly update for a sense of how your home’s “value” is trending.

Here are the statistics:

Active- the single family homes available at the time I pull the report

In Escrow- all single family homes under contract at the time I pull the report

Sold- all single family homes that closed escrow within 6 months from the time I pull the report

Median Price (Med. Price)- the median price all single family homes that sold within 6 months from the time I pull the report.

Days on Market (DOM)- the average days it takes to put a home under contract

So, here it is, Adams Hill, your market watch:

May 24: Active: 4 (-1), In Escrow: 9 (+1), Sold: 22 (-1), Med Price: $489,250 (-$16.75K), DOM: 63 (+2)

May 17: Active: 5 (+3), In Escrow: 8 (+0), Sold: 23 (-1), Med Price: $506,000 (-$9.5K), DOM: 61 (+1)

May 10: Active: 2 (+0), In Escrow: 8 (+0), Sold: 24 (+1), Med Price: $515,500 (+$9.5K), DOM: 60 (+0)

May 3: Active: 2 (-1), In Escrow: 8 (+1), Sold: 23 (-2), Med Price: $506,000 (+$33.5K), DOM: 60 (+2)

April 26: Active: 3 (-1), In Escrow: 7 (-1), Sold: 25 (+2), Med Price: $472,500 (+$7.5K), DOM: 58 (-2)

April 19: Active: 4 (+0), In Escrow: 8 (+0), Sold: 23 (-1), Med Price: $465,000 (+$7K), DOM: 60 (+4)

April 12: Active: 4 (-2), In Escrow: 8 (+1), Sold: 24 (+0), Med Price: $458,000 (+$11K), DOM: 56 (-2)

April 5: Active: 6 (+0), In Escrow: 7 (+0), Sold: 24 (-2), Med Price: $447,000 (-$18K), DOM: 58 (+3)

March 29: Active: 6 (+1), In Escrow: 7 (+0), Sold: 26 (+1), Med Price: $465,000 (+$0K), DOM: 55 (-4)

March 22: Active: 5 (+0), In Escrow: 7 (-2), Sold: 25 (+1), Med Price: $465,000 (-$3.25K), DOM: 59 (+4)

Check back again next week for another update, where I tell you how much each number has changed.

I hope you are enjoying this feature and that it will provide you with some valuable information about your home!

Here is a sample of homes available for sale in Adams Hill:

I report on the same statistics every time, and I’ll tell you if that number is more or less than the last report- it’s kind of like a stock market ticker. Note the change of value mentioned in the parentheses below for the difference between this market update and last market update. This way, you will have a weekly update for a sense of how your home’s “value” is trending.

Here are the statistics:

Active- the single family homes available at the time I pull the report

In Escrow- all single family homes under contract at the time I pull the report

Sold- all single family homes that closed escrow within 6 months from the time I pull the report

Median Price (Med. Price)- the median price all single family homes that sold within 6 months from the time I pull the report.

Days on Market (DOM)- the average days it takes to put a home under contract

So, here it is, Canyons, your updated market watch:

Check back again next week for another update.

I hope you are continuing to revisit the site weekly for this valuable information about the market near your home!

Here is a sample of homes available for sale in The Canyons.

I report on the same statistics every time, and I’ll tell you if that number is more or less than the last report- it’s kind of like a stock market ticker. Next week I will note the change of value in parentheses for the difference between this market update and last market update. This way, you will have a weekly update for a sense of how your home’s “value” is trending.

Here are the statistics:

Active- the single family homes available at the time I pull the report

In Escrow- all single family homes under contract at the time I pull the report

Sold- all single family homes that closed escrow within 6 months from the time I pull the report

Median Price (Med. Price)- the median price all single family homes that sold within 6 months from the time I pull the report.

Days on Market (DOM)- the average days it takes to put a home under contract

So, here it is, La Canada, your market watch:

May 24: Active: 53 (-3), In Escrow: 57 (+11), Sold: 111 (+0), Med Price: $1,183,000 (-$17K), DOM: 64 (-3)

May 17: Active: 56 (+0), In Escrow: 46 (+6), Sold: 111 (-6), Med Price: $1,2oo,000 (+$9K), DOM: 67 (+0)

May 10: Active: 56 (+1), In Escrow: 40 (+1), Sold: 117 (+1), Med Price: $1,191,000 (-$9.05K), DOM: 67 (-1)

May 3: Active: 55 (-1), In Escrow: 39 (+4), Sold: 116 (-4), Med Price: $1,200,050 (+$4.55K), DOM: 68 (+0)

April 26: Active: 56 (+3), In Escrow: 35 (-1), Sold: 120 (+7), Med Price: $1,195,500 (+$4.5K), DOM: 68 (-3)

April 19: Active: 53 (+4), In Escrow: 36 (+3), Sold: 113 (+3), Med Price: $1,191,000 (+$17K), DOM: 71 (-1)

April 12: Active: 49 (+3), In Escrow: 33 (+1), Sold: 110 (+1), Med Price: $1,174,000 (-$9K), DOM: 72 (-4)

April 5: Active: 46 (+1), In Escrow: 32 (+0), Sold: 109 (-5), Med Price: $1,183,000(+$10.5K), DOM: 76 (+0)

March 29: Active: 45 (-1), In Escrow: 32 (-5), Sold: 114 (+5), Med Price: $1,172,500(+$7.5K), DOM: 76 (-2)

March 22: Active: 44 (-1), In Escrow: 37 (+1), Sold: 109 (+1), Med Price: $1,165,000(+$10K), DOM: 78 (-4)

Check back again next week for another update, where I tell you how much each number has changed.

I hope you are enjoying this feature and that it will provide you with some valuable information about your home!

Here is a sample of homes available for sale in La Canada:

I report on the same statistics every time, and I’ll tell you if that number is more or less than the last report- it’s kind of like a stock market ticker. Next week I will note the change of value in parentheses for the difference between this market update and last market update. This way, you will have a weekly update for a sense of how your home’s “value” is trending.

Here are the statistics:

Active- the single family homes available at the time I pull the report

In Escrow- all single family homes under contract at the time I pull the report

Sold- all single family homes that closed escrow within 6 months from the time I pull the report

Median Price (Med. Price)- the median price all single family homes that sold within 6 months from the time I pull the report.

Days on Market (DOM)- the average days it takes to put a home under contract

So, here it is, Glendale Condos, your market watch:

May 24: Active: 41 (-5), In Escrow: 120 (+0), Sold: 225 (+7), Med Price: $310,000 (-$2.5K), DOM: 51 (+1)

May 17: Active: 46 (+2), In Escrow: 120 (+0), Sold: 218 (+8), Med Price: $312,500 (+$5K), DOM: 50 (-1)

May 10: Active: 44 (+2), In Escrow: 120 (+0), Sold: 210 (+0), Med Price: $307,500 (+$4K), DOM: 51 (-1)

May 3: Active: 42 (-2), In Escrow: 120 (+3), Sold: 210 (-4), Med Price: $303,500 (+$1.5K), DOM: 52 (+0)

April 26: Active: 36 (-2), In Escrow: 117 (+2), Sold: 214 (-2), Med Price: $302,000 (+$1K), DOM: 52 (+1)

April 19: Active: 38 (-8), In Escrow: 115 (+4), Sold: 216 (+1), Med Price: $301,000 (+$1K), DOM: 51 (-6)

April 12: Active: 46 (-1), In Escrow: 111 (-4), Sold: 215 (+4), Med Price: $300,000 (+$0K), DOM: 57 (-2)

April 5: Active: 47 (+3), In Escrow: 115 (+0), Sold: 211 (-2), Med Price: $300,000 (+$0K), DOM: 59 (-1)

March 29: Active: 44 (+0), In Escrow: 115 (+9), Sold: 213 (-4), Med Price: $300,000 (+$4.5K), DOM: 60 (+1)

March 22: Active: 44 (+0), In Escrow: 106 (+5), Sold: 217 (-5), Med Price: $295,500 (+$2.5K), DOM: 59 (-3)

Check back again next week for another update, where I tell you how much each number has changed.

I hope you are enjoying this feature and that it will provide you with some valuable information about your home!

Here is a sample of condos and town homes available for sale:

I report on the same statistics every time, and I’ll tell you if that number is more or less than the last report- it’s kind of like a stock market ticker. Next week I will note the change of value in parentheses for the difference between this market update and last market update. This way, you will have a weekly update for a sense of how your home’s “value” is trending.

Here are the statistics:

Active- the single family homes available at the time I pull the report

In Escrow- all single family homes under contract at the time I pull the report

Sold- all single family homes that closed escrow within 6 months from the time I pull the report

Median Price (Med. Price)- the median price all single family homes that sold within 6 months from the time I pull the report.

Days on Market (DOM)- the average days it takes to put a home under contract

So, here it is, Downtown Glendale, your market watch:

Check back again next week for another update, where I tell you how much each number has changed.

I hope you are enjoying this feature and that it will provide you with some valuable information about your home!

Here is a sample of homes available for sale in Downtown Glendale:

I report on the same statistics every time, and I’ll tell you if that number is more or less than the last report- it’s kind of like a stock market ticker. Note the change of value mentioned in the parentheses below for the difference between this market update and last market update. This way, you will have a weekly update for a sense of how your home’s “value” is trending.

Here are the statistics:

Active- the single family homes available at the time I pull the report

In Escrow- all single family homes under contract at the time I pull the report

Sold- all single family homes that closed escrow within 6 months from the time I pull the report

Median Price (Med. Price)- the median price all single family homes that sold within 6 months from the time I pull the report.

Days on Market (DOM)- the average days it takes to put a home under contract

So, here it is, Northwest Glendale, your updated market watch:

Check back again next week for another update.

I hope you are continuing to revisit the site weekly for this valuable information about the market near your home!

Here is a sample of homes available for sale in Northwest Glendale.

I report on the same statistics every time, and I’ll tell you if that number is more or less than the last report- it’s kind of like a stock market ticker. Note the change of value mentioned in the parentheses below for the difference between this market update and last market update. This way, you will have a weekly update for a sense of how your home’s “value” is trending.

Here are the statistics:

Active- the single family homes available at the time I pull the report

In Escrow- all single family homes under contract at the time I pull the report

Sold- all single family homes that closed escrow within 6 months from the time I pull the report

Median Price (Med. Price)- the median price all single family homes that sold within 6 months from the time I pull the report.

Days on Market (DOM)- the average days it takes to put a home under contract

So, here it is, Verdugo Woodlands, your updated market watch:

May 24: Active: 22 (+0), In Escrow: 23 (+1), Sold: 65 (+2), Med Price: $750,000 (+$0K), DOM: 66 (+2)

May 17: Active: 22 (+1), In Escrow: 22 (+4), Sold: 63 (-1), Med Price: $750,000 (+$6K), DOM: 68 (+0)

May 10: Active: 21 (+2), In Escrow: 18 (-2), Sold: 64 (+3), Med Price: $744,000 (-$6K), DOM: 68 (-2)

May 3: Active: 19 (+3), In Escrow: 20 (-1), Sold: 61 (-1), Med Price: $750,000 (+$29.4K), DOM: 70 (-5)

April 26: Active: 16 (-2), In Escrow: 21 (-3), Sold: 62 (+3), Med Price: $720,600 (-$4.9K), DOM: 75 (-2)

April 19: Active: 18 (-3), In Escrow: 24 (+2), Sold: 59 (-1), Med Price: $725,500 (-$4.5K), DOM: 77 (+3)

April 12: Active: 21 (+0), In Escrow: 22 (-3), Sold: 60 (+0), Med Price: $730,000 (+$22.5K), DOM: 74 (-1)

April 5: Active: 21 (+0), In Escrow: 25 (+0), Sold: 60 (-1), Med Price: $707,500 (-$2.5K), DOM: 75 (+1)

March 29: Active: 21 (+5), In Escrow: 25 (-5), Sold: 61 (+1), Med Price: $710,000 (+$12.5K), DOM: 74 (+1)

March 22: Active: 16 (-2), In Escrow: 30 (+3), Sold: 60 (-2), Med Price: $697,500 (+$7.5K), DOM: 73 (+3)

Check back again next week for another update.

I hope you are continuing to revisit the site weekly for this valuable information about the market near your home!

Here is a sample of homes available for sale in Montrose and Verdugo Woodlands.

I report on the same statistics every time, and I’ll tell you if that number is more or less than the last report- it’s kind of like a stock market ticker. Note the change of value mentioned in the parentheses below for the difference between this market update and last market update. This way, you will have a weekly update for a sense of how your home’s “value” is trending.

Here are the statistics:

Active- the single family homes available at the time I pull the report

In Escrow- all single family homes under contract at the time I pull the report

Sold- all single family homes that closed escrow within 6 months from the time I pull the report

Median Price (Med. Price)- the median price all single family homes that sold within 6 months from the time I pull the report.

Days on Market (DOM)- the average days it takes to put a home under contract

So, here it is, La Crescenta, your updated market watch:

May 24: Active: 26 (-0), In Escrow: 57 (+2), Sold: 129 (+1), Med Price: $573,000 (+$1.5K), DOM: 45 (-1)

Check back again next week for another update.

I hope you are continuing to revisit the site weekly for this valuable information about the market near your home!

Here is a sample of homes available for sale in La Crescenta.

943 N. Isabel is back on the market.  This cozy home is a 1920s, two bed Spanish bungalow with a great breakfast area.  The 7000 sq. ft.+ lot provides plenty of outdoor relaxation space. Open Sunday 1 – 4.

Not looking for a Spanish? How about a traditional with a gorgeous resort-like backyard? 2237 Hollister Terrace in Glenoaks Canyon may be for you.  With a nicely manicured front lawn, two outdoor dining areas, pool, and two side yards, you’ll enjoy plenty of outdoor space at this property as well. This home will be open Sunday 2 – 4.

Lastly, we have 2750 E Chevy Chase Drive, a treehouse in Chevy Chase Canyon.  Great views, three bedrooms and two baths and open on Saturday 1 – 3.

Those are my best bets. Looking for something different? Check out the other Open Houses this weekend below.

Is it good to sell your Glendale Ca home in just a few days?

Do you want top dollar?

A fast sale will cost you money- a lot of money.

Sales in less than 5 days sold for 6% less

What does this mean to me?

Sales that register on the MLS with a super short marketing time are often sold before they are listed for the general public.  While a buyer might make an offer immediately on viewing, it generally takes several days to negotiate and then change the status on the computer.  It is possible… but not probable.

Therefore, a good portion of these fast sales are probably Pocket Listings- a listing that is held off the MLS and quietly marketed to a select group of people.

Make sure you understand your agent’s strategy for marketing your home.  Pocket Listings can be a great strategy, but the statistics show this method leaves a lot of money on the table.

I know what my home is worth, I won’t sell for less.

With all due respect, you might know what an appraiser will say it is “worth”, but you can’t know what the marketplace will pay for your home.  I am continually surprised by what my listings sell for, and I think about home values in Glendale Ca every single day.

There is only one way to know the top dollar value of your home, great marketing and wide exposure to the market.

It wasn’t easy to buy a home back then.  Interest rates were double digits, high unemployment rates were a very fresh memory and the collapse of the junk bond market and the savings and loan crisis were our corporate finance debacles of the day.

But the American Dream of homeownership was unassailable.

“The only thing that remains the same is change”

According to many financial wags and grey beards, times are more difficult now than they were in the Great Depression.  Unemployment, education, health care, social security; everything is in a crisis mode.  These institutions help make the fabric of our identity as Americans- and each one is being forced to change.

The institution of Home Ownership is no different.

Now, as a card carrying member of the Real Estate Industry, I am required to tell you that real estate is the greatest wealth building vehicle in America and all manner of personal sacrifice is worthy in order to call oneself a “Homeowner” (cue Tabernacle Choir and Heavenly Light).

Now, don’t get me wrong.  I’ve read all the articles and analysis on home ownership.  From a pure financial perspective it makes all the sense in the world to buy.  I would argue, however, that for most people a home is a lot more than a financial decision.

The hard truth is that many can not afford their important priorities in life and the houses that match.  For example, if your priority is being close to family, and your family lives in an affluent area, should you live in a remote area just to afford a home?  What if your priority is spending time with your kids, but the only areas you can afford are an hour commute to your work?

 This does not mean you should NOT buy a home.

Buying a home means you get to participate in the only significant tax break available to most Americans.  Homeownership is also the most common vehicle for wealth creation.

When you are a renter, the landlord controls your payments, the condition of your dwelling and, even, your right to stay in the home.  As a homeowner you have far more control over your environment.

Lastly, owning a home encourages a sense of connectedness to a community and, in turn, a strong community creates higher home values.

 What should YOU do?

I think you need to carefully assess your own priorities and pit them against your budget.

Can you afford a home that suits your priorities?

How important is wealth building to you?

Can you build that wealth in some other manner?

How important is a sense of permanence and control to you?

The answers to these questions should help you make your decision.  The one thing I implore… do not buy because some idiots say you are “lessor than” if you do not own your home.

 It is a fantastic time to buy.

Affordability is at an all time high and everyone expects inflation to bite us, hard, at some point in the near future.  While inventory is low and the buying environment is competitive, great homes are being bought every single day.

Should one of those homes be yours?

Image © Dana Rothstein | Dreamstime Stock Photos

The market is looking good for sellers- but don’t get cocky!

Inventory is UP!

Inventory is up nearly 20%- this is the first significant gain in inventory in 2 years.

But, at the same time, the number of sales is marching lockstep with the inventory, rising and falling in exactly the same manner.

This means buyer demand still outstrips supply and there is room for even more homes to come on the market.

But, what about prices?

Average price and median price took a large dip in March, decreasing 14% and 11%, respectively, from February.  This has more to do with the appallingly low number of homes sold under $500,000.  And, this low number of sales is due to lack of inventory, not lack of demand.

A better number to consider is the average dollar per square foot.  Average $/sf is up over the last three months, BUT- we had a huge decrease in Jan.  When you compare the average over the last two quarters, our average price/sf has not really changed.

Now, how is this possible?

Every listing seems to have multiple offers and stories of spectacular sales prices are stock in trade at every dinner party.  I, myself, have been astonished at the prices my homes have sold for, recently.

However, statistics are 30 days, or more, behind the market. These numbers reflect what was happening 30 and 60 days in the past.  This means the most spectacular sales have yet to close escrow and be reflected in the statistics.

It might be helpful to remember, an open sale is not the same thing as a closed one.  At the end of the day this means our actual sales prices might not match the tales told over wine and cocktails.

If I had to guess I would say that next months statistics will show a healthy rise in all indicators and, perhaps, we’ll see a rise in the next months numbers, as well.  If I had to guess.

Like I said, don’t get cocky!

But I have a small note of caution.  March saw a large decrease in the number of homes that entered escrow.  This is probably due to the large decrease in listings (fewer homes to buy leads to fewer contracts), but it is a number worth watching.  This, coupled with the fact that we have not solved for unemployment, budget woes  or credit issues mean that we can not sustain a long term rise in prices.

I am not predicting any sort of bubble burst.  I am merely urging caution to potential sellers banking on long term rises in sales prices.

This remodeled and perfectly detailed home sits slightly above the gracious, tree lined street in beautiful Northwest Glendale. There is a “Bed and Breakfast in Vermont” sort of charm to this home that will make every day feel like a vacation.   Elegant Cook’s Kitchen, central heat and air and copper plumbing means you can move right in.  Enjoy the large family room, sumptuous master suite with views, and the resort like yard with large pool and entertaining patios.  For many, this will feel like a home forever.

4 Bedrooms  |   4 Bathrooms  |   2,426 SQFT  |   9,693 Sq Ft Lot  |   Remodeled, Sits Above Tree Lined Street, Cook’s Kitchen, Move-In Ready |   $979,000

Hover over the floor plans below in order to see pictures of the rooms.

Past Northwest Glendale Market Watches can be found here

This home is located in Northwest Glendale.  Here is an interactive map- click on any icon you see to learn more about the area!

This remodeled and perfectly detailed home sits slightly above the gracious, tree lined street in beautiful Northwest Glendale. There is a “Bed and Breakfast in Vermont” sort of charm to this home that will make every day feel like a vacation.   Elegant Cook’s Kitchen, central heat and air and copper plumbing means you can move right in.  Enjoy the large family room, sumptuous master suite with views and the resort like yard with large pool and entertaining patios.  For many, this will feel like a home forever.

Listed for $979,000.  Open House April 28, 2013, 2:00 – 5:00 PM

Have you ever noticed that some homes exude a great energy… it just feels good to be there?  1201 Norton is certainly that kind of home.  Solid, maintained, bright and cheerful- this home is less about flash and more about a great place to live.

 

Strangely, a simple, quality home, on a quiet, treelined street, is a rare treasure- and you’ve found it here.  Lovingly maintained for more than five decades by the same family, 1201 Norton feels like a place to call HOME.  A formal entry leads to a graciously sized living room with fireplace and bay window.  The large formal dining room leads to a cheerful Kitchen and breakfast nook.  The Master Suite has a wall of closets with built-ins and a wall of glass leading to the large covered patio.  The den could easily be a third bedroom.  This was a forever home for the current homeowners- maybe it will be a forever home for you.

2 Bedrooms | Convertible Den  |   2 Bathrooms  |   1,670 SQFT  |   6,113 Sq Ft Lot   |   $625,000

This home is sold. Please contact Kendyl Young for more information at (818) 396-7588.

The common lament, in Pasadena Real Estate, is the appalling lack of homes on the market.  In fact, the inventory of available single family homes fell more than 45% in the last twelve months and more than 72% in the last two years. The reasonable person wonders-

What does this mean to me?

If you are a buyer it means fewer homes to choose from, naturally.  It also means multiple offers on the homes you like.

Sellers- by the numbers you are in the cat bird’s seat.  Homes are selling faster, and for more money…. but not every home sells, price is still a factor.  Homeowners who ignore market values in their offering prices are passed over by buyers wary of “paying too much”.

Can you back that up?

Sure, let’s get into the numbers.

Inventory of single family homes fell 45% from February to December 2012- a new low of just 118 homes for sale in a city with 54,000 homes.  To put a little perspective on just why this number is shocking- the last time we felt the inventory pinch was in 2005.  At that time we had approximately 300 homes on the market. Shocking.

February’s inventory has risen to 144 homes on the market;  it is the start of the spring home selling season.

As expected, new contracts have started to rise, jumping over 30% from the previous month- there are more homes to buy, and the buyer’s appetite is very strong.  Closed escrows are flat, reflecting a seasonal lull in the number of new contracts through the winter and holiday months.

What does this mean for prices?

Months supply of inventory is a way to view the dynamic relationship between amount of inventory and the number of buyers willing to buy.  It is also an indicator of where prices should be going.  More than 6 months inventory is a buyers market and prices should trend down.  Four to six months is a neutral market, and anything less than four months is a seller’s market and prices should be going up.

February has just two months of inventory.

So, prices are going up?

One way to look at prices is the median price- this tells you which way the winds are blowing for the overall market.  The winds are blowing in an upward direction- gaining nearly 10% in the last quarter.  However, this merely tells the story that more expensive homes are selling than low priced homes.  This is not due to a real rise in absolute value- just a severe lack of inventory in the lower priced segment of the market.

Average price is a little more interesting- average price rose from $721,00 in October 2012 to $895,000 in February 2013 – slightly more than a 20% gain.  However, in Pasadena, we need to be really careful with averages and medians.  Our fair city was a small but very influential number of affluent neighborhoods.  A few super high end sales can completely wrack average price numbers.

That is why I like average price per square foot as a gauge of an individual home owner’s value trends.  The metric tends to smooth over the various price segments. The average price per square foot is trending fairly neutral ($421/sf in April 2012 to $425/sf in February 2013 for a 1% gain), but it is NOT flat.  The last 6 months have seen a rollercoaster effect.

A Note of Caution

I tell you ALL of this to show how unpredictable prices are, right now.  Overall it is clear, there is upward pressure on prices.  However, 191 homes went UNSOLD in the last several months, and they were removed from the market.  That is 191 homeowners that could not attract an acceptable offer despite the lowest inventory and highest buyer demand in years.

This illustrates the fact the buyers are resisting homes that are priced well above reasonable ranges.  At the same time we have lots of anecdotal evidence that buyers will engage in multiple offer situations- even bidding wars- over homes that are well presented and priced within expected ranges.  Homes that outperform all expectations of price are almost always the result of a bidding war.

A wise homeowner will study these trends carefully and craft a strategy that will leverage this dynamic and exciting market.

Or, you can call me.  I am happy to help.

I know, however, that as much as you love visiting with me and seeing my lovely new listing, you’re going to also want to visit the best homes we have to offer, right?

1355 Cedar Court in the Rossmoyne Hills looks absolutely amazing.  This is a deeeeeep Spanish Character home with some of the most amazing architectural detail I’ve ever seen.  On top of this are the stunning city views!

Not al of us can afford a Million Dollar view.  Some of us just want a magical neighborhood and a solid home to live out our lives.  410 Mesa Lila is a home you need to visit.  Whiting Woods is a slice of heaven in the Glendale Foothills.  Living here would be like being on vacation all year ’round.

Are you searching for a 3bedroom/2 bath home in great condition, with great schools around $550,000?  Have you seen 3835 Anderson in La Crescenta?  I can’t believe this gem is still on the market.

Those are my best bets and recommendations.  Click here for the full list of .

This home is sold.  Please contact Kendyl Young for more information: (818) 396- 7588.

There are places, in our lives, that reflect a life well lived.  Friends.  Family.  A glass of wine with a loved one at the end of a wonderful day.  1364 E. Topeka St. is just such a place.  Welcome home.

Manicured grounds and generous front porch, complete with a porch swing, welcome you to this romantic cottage in the Historic Highlands.  The field stone fireplace sets the tone for this 1920′s classic.  The kitchen is completely remodeled with semi custom cabinets, soft close drawers and farm house sink.  Indoor/Outdoor living happens on the expansive deck and deep backyard complete with a paver patio, mature landscape and stunning night time lighting.  Updated electric, tankless water heater and copper plumbing complete this perfect home in the Historic Highlands of Pasadena.

2 Bedrooms  |   1 Bathroom  |   905 SQFT  |   8,965 Sq Ft Lot  |   1920s Classic, Historic Highlands Cottage, Indoor/Outdoor Living, Updates |   $535,000

Twilight Sneak Peak: Friday, March 22, 2013.

Open House: Sunday, March 24, 2013.  Join us for chocolate chip cookies and a tour of this home.