Chatsworth, CA

This last Sunday, I went to my first live real estate auction. I have been to fundraising live auctions before for my kids' schools, but this was a new experience! A cute puppy or front row seats at graduation might fetch a handsome sum, but this was a whole different level!

On the auction block were twelve newly built townhomes in a desirable Chatsworth neighborhood. The units had been open for previewing for a few weeks prior to the auction: I had gone twice, with two different buyers one of whom accompanied me to the auction with the intent of making a bid and hopefully walking away a first time homebuyer. The units ranged in starting bid prices from $140,000 to $170,000. All units featured upgraded materials, high ceilings, and large open kitchens with 3 bedrooms and 3 baths. The square footage ranged from a bit over 1500 to a bit over 2500.

Those were the only numbers my client and I knew going in--what we didn't know was how high the bidding would go. The auctioneer began with the published starting bid and went up quickly in $10,000 increments; as the bidding escalated and there were fewer bidders he went up by $5,000 increments. Eventually, he went up in $1,000 increments, often between just a few bidders. It was interesting to see how the smaller increment bidding played out: if the price were, say, $320,000 and nobody bid up to $325,000 the auctioneer would ask for $321,000 then $322,000 and so on. Guess what? The price would eventually exceed the earlier stopping threshold of $325,000. Perhaps buyers felt they were so close--what's another thousand dollars?

Ultimately, the sales prices ("subject to seller's acceptance," which the auctioneer said every time after booming "sold!") for the units ranged from just over $300,000 to $400,000--well over double the starting bids! And my buyer? He is still waiting to be a first-time homeowner, but his day will come!

If you would like more information on new construction in the San Fernando Valley, or Chatsworth properties in general, let me know and I will be happy to tell you more.

My Realty Executives office wanted to do something different to attract buyers and to help people in our community that may be facing forclosure.

We purchased some signs in bright colors that say, short sale, bank owned and Foreclosure Center. We have had more walk in traffic than ever before. Some great leads, people with money wondering if this is the right time to buy. As well as a few people with questions about loan modifications.

We of course are helping the buyers to find the propeties they like. But we also give the people inquiring about a loan modification a step by step guide on how to do their own modification for FREE.

HOMES

21600 San Jose St $ 318,000

19844 Septo St $ 575,000

http://www.stoppayingrentinla.com

Farmers' Market Information for Chatsworth

Day: Saturday
Hours: 8:00 a.m. to 1:00 p.m.
Location: Metro Link Train Station Parking Lot off Devonshire St, between Topanga Canyon Blvd and
anoga Ave
City: Chatsworth
County: Los Angeles
Manager: Dan Rochin
Office Address: 21704 Devonshire St #106, Chatsworth, CA 91311
Phone: 818-470-0808
Fax: 818-701-0135
Parking: Plenty of free parking on 2 large paved lots - one next to the market and another large lot 200 feet south
Transportation: The following MTA bus lines stop immediately adjacent to the Market: 158, 166, 167, 243 and 245. Metrolink and Amtrak trains also stop at the Market entrance. At the Metrolink Train Station Parking Lot off Devonshire Street, between Topanga Canyon Boulevard and Canoga Avenue at 10046 Old Depot Plaza Road, Chatsworth 91311

Make sure to visit the Chatsworth Farmers' Market any time you visit the Los Angeles area. A street map to get to the Chatsworth Farmers' Market is attached for your convenience.

Chatsworth Certified Farmers' Market features Certified Farmers, prepared foods, flowers, and crafts.

So, you're probably wondering, what's Fresh Right Now! For fresh fruit check out the Pomegranates, Tangerines, Limes, Persimmons, Asian Pears, Mandarin Oranges and Grapes. Other produce that's in season includes Walnuts and Honey. This is a great time for fresh veggies if you like Spinach, Avocados, Winter Squash, Brussel Sprouts, Mushrooms, Green Beans, Beets or Chinese Broccoli.

Chatsworth is one of the community's fortunate enough to have a Certified Farmers' Market (CFM)! Supporting your local Farmers Market not only gives you the freshest fruits and vegetables but it's also a way to give your local small business owners the support they need to stay in business in an age of large chain stores. So, go on down Saturday between 8 am and 1 pm to the Chatsworth Farmers' Market this week and every week!

This message is supported by James90210 on Active Rain, Localism and all other blogs.

Chatsworth Houses Sold 9/01/08- 9/30/08

In my monthly print newsletter, I give the previous month's home sales in Chatsworth. For the past few months, 21 homes closed each month but September pushed the volume higher to 24 closed sales! I knew it was busy, both from personal experience and from talking with fellow North Valley agents. Alas, the average sales price was lower and the average days on market rose.

For more information on these homes or any other property, call or email Harley.

The information on these properties was provided from the SoCalMLS and represents the sales of all companies. Information deemed to be accurate but not guaranteed and provided for the sole purpose of keeping you updated in your area. This is not intended as a solicitation if you currently have a broker.