Northwest Glendale Real Estate Review

I thought it would be fun to look at each of our little areas, here in Glendale and Above the 134, and review our real estate activity.  Let’s see where we really are, shall we?

First up is Northwest Glendale.  This comprises of single family homes in 91201 and 91202, from Brand Park to the 134 freeway; from Brand Blvd. to the Burbank border.

The Lowest Price Sale in 2008

429 Sonora is the cheapest home to sell (would it be nicer to say, “least inexpensive”? “Lowest price”?).  This was a short sale that started at $450,000 and 176 days later closed for $100k less than asking at $350,000.  It has 3 bedrooms, 2 bathrooms and nearly 1500 sf.

Agent Remarks: REDUCED !!!!! REDUCED!!!! REDUCED !!!!!WELL KEPT HOME WITH NEWER INTERIOR PAINT, HARDWOOD FLOORS, RECESSED LIGHTINGS IN THE LIVING ROOM, NEW TILE FLOORING AND LIGHTINGS IN THE KITCHEN, COPPER PLUMBING, GOOD SIZE BACKYARD AND LOTS MORE. 3RD BEDROOM HAS SEPARATE ENTRACE WHICH COULD BE RENTED OUT FOR ADDITIONAL INCOME. VERY ACCESSIBLE TO FREEWAYS, PUBLIC TRANSPORTATION, AND SCHOOL.

My Remarks:  Girlfriend, lay off the caps.  We do not need you shouting at us like we are deaf!  The location is tough, being below the freeway and just below Lake.  However, I see pictures of a clean and tidy home with a humongous flat screen TV over the fireplace.

The Highest Price Sale in 2008

This is the most expensive house to sell in Northwest Glendale.  1565 Columbus listed for $1,700,000 and sold for $1,635,000 zero days later.  Zero?  Oh, it sold before processing.  There are 4 bed/5 bath in 3250 SF.  The lot is 13,970 sf

Agent Remarks: Stunning Mediterranean on a huge flat lot with pool and spa. Designer style and loads of amenities. Sold before processing.

My Remarks:  I don’t know that I can be more pithy than the above.  The scale of the rooms are grand, except for the kitchen, which is inextricably tiny.  A very nicely remodeled tiny, but out of proportion with the house.  The lot is outstanding and no one can argue with the location.

2008 Real Estate Review

First thing to note is we took a HUGE dip in price in the last quarter.

Up until this report I was seeing a 12% – 15% rolling 12 month average price drop.  I think the 4th quarter really hit us hard.

I find the shorter marketing times hilarious, but I have an explanation.  We recently merged our MLS with a few others and the days on market from these new listings are often zero.  Also, the REO listings are often priced to sell in just a few days, skewing our averages even more.

The effects of these REO listings really show up in the sales price average for our smaller homes.

The good news?  There are only 3.3 months of inventory on the market right now.

Other Neighborhood Reviews:

Northwest Glendale
Chevy Chase Canyon
Glenoaks Canyon
Rossmoyne
Verdugo Woodlands