Kendyl's Open House

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Northwest Glendale Real Estate Hot Sheet

Click here for chart explanation and disclaimer

Wow - days and days of nothing and then BOOM, there it is!  Let’s start at the top of the chart.

1017 Newby looks like a pretty good deal above Glenoaks.  Newby is not one of the “name brand” streets, but it is reasonably pleasant.  The listing agent is advertising a very unusual thing - AITD or all inclusive trust deed.  The simplest way to explain this is that the new buyer would take over the current owner’s loan payments.  This is generally done because the prospective buyer can not obtain financing on their own merits.  This is a creative financing method that was popular in the early 80’s when interest rates zoomed to 20 and 22 percent.  In the right situations there is nothing wrong with this financing… as long as everyone has a really good understanding of the pros and cons.  As the mortgage industry gets tighter and tighter, buyers and sellers will get more and more creative.

1743 Stanton is in the rancho area of Glendale.  This was on the market in June of last year, for $100k more.  Too bad they didn’t reduce it to this price last year.  Now this price just seems ok, not outstanding.

1326 Alameda looks like a really sweet, light filled cottage.  The price also seems very nice.  Alameda can be a busy street, though.

1225 Dorothy is a puzzlement.  Good sized house that looks remodeled on a humongous lot.  However, that end of Dorothy is close to a condo building and the street is devoid of trees.  In the previous market this would have sold in heartbeat for the lot size alone.  Today, however, will the buyers pay for lot if the location isn’t outstanding?

Same thing, kind of, for 729 Olmsted.  This is a truly outstanding remodel for it’s genre.  The pictures portray a high end model home!  But, as we saw with 1345 Cleveland, no amount of pretty will overcome the limitations of location.

1348 Justin deserves a little love!  While the paper value seemed high, the location is good…. and the location won!  In escrow after only 16 days - high 5’s all the way ’round!