La Crescenta, CA Real Estate News

By Ben Bahrami
OLIVE BRANCH   I think everyone loves eating.  Here is a great restaurant.  Some of you might not have had Persian food, but you are missing out!  I am half-Persian, and I introduced this food to my wife, and it's now her favorite.  Please go visit Olive Branch (NOT OLIVE GARDEN). It is in La Crescenta, CA.  So If you are in the area, you must go.  Let me know if you love Persian food like me. There are many more Persian places you can go in L.A. also.  Another favorite is Raffi's in Glendale, not very far from Americana at Brand.
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Market Index A market index of above 1.20 is a seller’s market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer’s market.   Declined five points to 0.30, mirroring other markets, but not as severe a drop.    New Listings – 22 new listings, compared to 27 last month. Last year there were 45.   Pending Listings – 11 new escrows opened, compared to 11 last month, and 9 last year.   Pending Ratio – 0.50, up from last month’s 0.41.  Last year the ratio was 0.20.   Listing Inventory –90 homes left on the market, compared to 99 homes last month.  Last year we had 162 listings on the market.    Sold Listings – 16 listings closed escrow, compared to 24 last month, compared to 17 the year before.   Average Sales Price - $580,235, down from last month’s $597,238, but still abo...
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By Kendyl Young
(Teles Properties)
A friend/client recently encountered the strangest scam with her rental property in La Crescenta. I thought you should all be alerted. My friend received an e-mail about her Craig's list ad. The gentleman said he was being relocated from England to Los Angeles and that he would arrive on a specific date, 3 weeks in the future. He said he really liked the home based on the Craig's List ad, and had instructed his employer to send her a check for the first month plus security deposit. The language was very odd, very formal and slightly archaic. In fact, it sounded a lot like the Nigerian 411 scam e-mails - the ones where the writer pleads for help from a US citizen to help them move a twenty million dollar inheritance. My friend was instantly suspicious. However, she couldn't see the risk ...
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By Keith Sorem
(Keller Williams Realty)
Market Index Up slightly to 0.32, last September during the mortgage meltdown 0.14.  New Listings – Fifty Five new listings this month, compared to forty-four in August. Last year there were 27. Pending Ratio 0.22, a drop of five points from August, the third month it declined. Last year the ratio was 0.22. Listing Inventory – Dropped to 98 from118 in August.  Last year we had 158 listings on the market.  Sold Listings – Sold 19, down from 24 last month and  16 last year. Average Sales Price $552,747, which is 24.6% down from last September, compared to 19.3% below last August. Price per square foot –$342.68, down 24% from last year.  The true value shift appears  to be around 20% if you average the two figures.   The area has not lost as much value as some.  If you can find the right h...
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Here is a July calendar of events for the Foothill area:  7-12-08     Montrose Art Walk 9am to 4pm on Honolulu Avenue  7-12-08     Lady Falcon Rummage Sale 7am to 2pm at CV High  7-19-08     Cruise Night  5:30pm to 10:30pm on Brand Blvd., Glendale  7-25-08     Summer Night on the Plaza  6pm to 9pm at Glendale City Hall  7-26-08     Lady Falcon Car Wash 7am to 1pm corner of La Crescenta and Honolulu
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By Judy Lamason
(Century 21 Crest)
Here is another view of the Foothills from the La Crescenta area.  We are usually above the smog!  Small town community but close to downtown Los Angeles.  What a wonderful place to live and work! The La Crescenta area has wonderful schools and lots of parks.  We are currently building a new library at the corner of Foothill and La Crescenta.  
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By Judy Lamason
(Century 21 Crest)
We live in a fairly secluded community.  Very few people know we are here, but we are just minutes from Glendale and Downtown Los Angeles.  We are an area of lovely homes and even lovlier people! Welcome to the fabulous community of La Crescenta! Check out available homes at http://century21crest.com/index.htm  
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By Judy Lamason
(Century 21 Crest)
Crescenta Valley High School.  The facade was recently remodeled.  This is a great school for athletics, the arts and general education.  We have a terrific faculty with talented coaches and teachers.  Test scores are above average.  We rate a 10 out of 10 on the "great schools" website.  Glendale School District rates an 8 out of 10. 2900 Community Ave.La Crescenta, CA 91214  
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By Judy Lamason
(Century 21 Crest)
It is going to be a great weekend in the La Crescenta area!  We will have our usual fireworks set off from Crescenta Valley High School.  You can view them from most homes in the area, but pull up a chair at Lincoln Grammar School and join the festivities.  Remember to restrain your dogs and give them comfort during the fireworks.  Animal Control sees an increas in requests for service following every Fourth of July. Our neighbors in Sunland/Tujunga will be having their annual Fourth of July Parade and will have activities in Sunland Park.  Lots of fun and games for the kiddies.  Remember to bring lots of water. Most of us aren't traveling too far this year, what with gasoline at record highs.  But, I will just bet that you can stop in at almost any home in the neighborhood and find som...
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By Judy Lamason
(Century 21 Crest)
July is a great month in La Crescenta!  All of the High School kids have already had try-outs for athletics at Crescenta Valley High School.  Summer league play is beginning.  We will be having our usual Fourth of July Fireworks Celebration at or near Crescenta Valley High School on the Fourth! For those of you who are new to the area, we are the center of the universe when it comes to Blue Ribbon Schools.  We have blessed with extraordinary teachers, coaches and administrators.  We have some fabulous local restaurants.  Just a few of my favorites are La Cabinita, Divina, New Moon, Joselitos and Tortas de Mexico.  Try all of our local restaurants and compare them.  The service in this part of the world is exceptional. La Crescenta is located in the Foothills just a hop, skip and a jump ...
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By Linda S. Lane
(Dilbeck Real Estate Real Living)
For Condominiums: 5 Condos sold with an average of 3 bedrooms and 2 baths with a 1,476 sf average. The average Days on Market were 105. The average sold price was $507,500. For Single Family Homes:18 homes sold with an average of 3 bedrooms and 2 baths with 1,647 sf. The average Days on Market were 81. The median price of these homes were $597,500 with an average Days on Market at 59 days.Homes are moving pretty fast due to the end of the school year approaching and the buyers that I'm coming across are anxious to get their children into the excellent school system that La Crescenta has to offer. 
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By Terry Rasner-Yacenda, "Dreams Realty"
(Broker,Owner - Dreams Realty)
On the extra large postcard pinned to the wall in the grocery store there was this colorful message:  For Sale: Rally Neat House!  It continued...."There are lots of trees -- BIG ONES!  There's a 4-ft. wall in the lower front yard that a family of toads lives in; they have two openings in the wall to go in and go out.  There's a great big back yard with a patio for barbecues, and a lawn for sports."The house has three bedrooms: one for mom and dad; one for myself and my younger brother; and one for my little sister.  We have a good place to eat and plenty of room to watch television, and if you like roses, my mom has a great rose garden in the front yard surrounded by a flagstone porch.  The soil in the rose garden is great for growing fishing worms, too."You can buy this house for abou...
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By Keith Sorem
(Keller Williams Realty)
The leaves have fallen, with the real estate market fluttering in the winter winds of the Foothills.  As most of you are preparing for Christmas, Realtors® are busy helping buyers and sellers figure out what to do next.  The Glencrest Team is working with buyers and sellers and we are busier now than we were during peak selling season.  Why is that?  Sellers that need to sell need to figure out the best way to squeeze the most out of their sale, and buyers are trying to determine when the rock bottom price is really rock bottom.Going by the numbers, when the Market Index is above 1.20 we have a seller's market, between 1.20 and 0.80 a neutral market, and below 0.80 a buyer's market.  Last November La Crescenta was had a Market Index of 0.37, in July 0.031, and in November 2007 a Market ...
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By Keith Sorem
(Keller Williams Realty)
The leaves are falling from my maple tree, mirroring the sales activity in La Crescenta.  If you are a buyer, pay attention...actually, if you are a seller, you should too!Back in June, at the peak of the spring sales season, we had a market index of 0.31 with 155 active listings, selling 25.  Fast forward to October, a market index of 0.18, 148 listings active, and 10 sold.  Not a huge change just looking those numbers, but all put together, an index of 0.18 means buyers are really in control.Although not the end of the world as we know (according to some media outlets), the gradual accumulation of listing inventory coupled with the increasingly restrictive lending requirement has created a perfect storm.  As inventory levels increase, the number of qualified buyers has decreased, so w...
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By Keith Sorem
(Keller Williams Realty)
Statistics Don't Lie - REALTORS do!As we enter the second half of 2007 we have a great opportunity to evaluate our market and make some pretty broad conclusions.  Whether buying, selling, thinking (or dreading) of doing SOMETHING, don't we all like to know the TRUTH about the market?  You bet.For those that receive my monthly market report that covers 25 different local areas, you are familiar with my Market Index.  If the index is above 1.20 we have a Seller's market, if between 1.20 and 0.80 it's a balanced market where neither buyer nor seller have advantage, and below 0.80 we have a buyer's market.  Overall in my service area we are at 0.30, down from 0.32 from May.  So, in other words, a very strong buyer's market.  Which is good, because most of the time, an average market is a bu...
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What I love about the real estate market is that it is always changing.  Helping buyers and sellers understand the type of market we have is like giving someone a manicure on the telephone.  Almost impossible because of all the nuances.  Let's see if I can clear the air a little bit:In April we had 145 properties in inventory, increasing to 156 in May, typical of spring market.  In April 69 properties came on the market, and 14 went into escrow, a pending rate of only 20%.  In May 51 properties came on the market, and 23, or 45%, went into escrow.  So the typical trend of maximum inventory seems to be approaching.  People that need to buy are buying.The sale side is a different story.  In April 16 properties closed escrow and sold, with an average market time of 38 days, to add 1/3 for ...
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By Keith Sorem
(Keller Williams Realty)
The view from the "Balcony of Southern California" is great...a little smoggy, but still great.  Great school scores (they keep going up), nice people, a great place to live and work.How's the real estate market?  One of my favorite questions.   How do we really know?I'll explain how I do it:I measure the overall market with a Market Index, which is composed of key market variables we can measure.  If the Market Index is greater than 1.20, then it's a seller's market.  If it's between 1.20 and 0.80, it's a balanced market.  Below 0.80, it's a buyer's market.  La Crescenta's Market Index at the end of March was 0.53.  At the end of April it was 0.38, a fifteen point drop, or 28%.  If the stock market dropped 28% would you be worried?Let's look at what makes up the Market Index and see if...
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By Keith Sorem
(Keller Williams Realty)
Memorial Day, Monday, May 28thAs we take this time to remember those who have served in our armed forces please consider attending one of these events.  It's important to not forget the men and women who have died that we might have the freedoms that we enjoy.Burbank: Memorial Day Ceremony, 11 am at the McCambridge Park War Memorial.Montrose:  8am at the corner of Oceanview and Honolulu Avenues by the Vietnam Veterans' Memorial.La Crescenta:  Rick Dinger reporting:  8am at Two Strike Park this is a first time event that is sponsored by veterans.Glendale:  Carvel Gay, (Gay's Towing, and also the National Guard) reports: 9:30am at the Veterans Memorial, at Broadway and Isabel Streets. The keynote speaker is Maj. General William H. Wade II, the Adjutant General of the State of California, ...
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The view from the "Balcony of Southern California" is great...a little smoggy, but still great.  Great school scores (they keep going up), nice people, a great place to live and work.How's the real estate market?  One of my favorite questions.   How do we really know?I'll explain how I do it:I measure the overall market with a Market Index, which is composed of key market variables we can measure.  If the Market Index is greater than 1.20, then it's a seller's market.  If it's between 1.20 and 0.80, it's a balanced market.  Below 0.80, it's a buyer's market.  La Crescenta's Market Index at the end of March was 0.53.  At the end of April it was 0.38, a fifteen point drop, or 28%.  If the stock market dropped 28% would you be worried?Let's look at what makes up the Market Index and see if...
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