Glendale, CA

Now it's on to talk about the Rossmoyne area of Glendale. Again, this is the first month of on on going series. As we progress, you will get a great idea of the trends for this year.

Single Family Homes	January
New Listings	20
Total Listings	62
Sales Pending	7
Homes Sold	10
Expired Listings	7
Average Days on Market	98
Average $per Sq.Ft.	$319
Median Selling Price	$716,500
Average Selling Price	$615,308
Absorption Rate *	5
* The # of months to sell current inventory at present rate of sales

You can call this the baseline. We are starting this year with 5 months of inventory on hand. This is considered a balanced market, with neither a strong bias toward buyers or sellers. I know this is bursting the bubble of some of you buyers out there... but the truth is, there is not a heck of a lot of good houses on the market to choose from, and a fair number of buyers competing for those few homes. The bulk of the homes on the market... well, they need to season a bit (as in, be on the market long enough to get the sellers to put up or... well, you get the idea)

Condos and Townhomes	January
New Listings	4
Total Listings	10
Sales Pending	5
Homes Sold	3
Expired Listings	4
Average Days on Market	40
Average $per Sq.Ft.	$293.21
Median Selling Price	$233,000
Average Selling Price	$260,667
Absorption Rate *	5.71
* The # of months to sell current inventory at present rate of sales

Rossmoyne is not well known for it's condo inventory, but there are a few delightful buildings just off Brand above Glenoaks Blvd. There is good news and bad news in this chart. The good news is that there are a very healthy number of sales in January. Also, the average days on market if quite short, only 40 days. The bad news is that there are 5.71 months worth of inventory, not quite a buyers market, but getting there. Click here for the latest in Rossmoyne Home Listings.

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ABOUT GLENDALE

At the foot of the Verdugo Mountains, Glendale spans more than 30 square miles and is the third-most-populous city in Los Angeles County. Community spirit is strong in Glendale. Neighborhoods are clean, business districts are built smartly and social amenities are abundant, a result attributed to the city's focus on safetly, neighborhoods, education and community development. The Glendale Unified School District has a reputation as a a leder in educational quality. There are three hospitals and one county health center. Scattered strategically through the city are more than 30 parks and six libraries. The city's economy is dominated by retails and service industries, with wholesale and manufacturing playing a secondary roled. Glendale has a successful redevelopment program that has revitalized its downtown. The Central Glendale Redevelopment Project Area now includes about 5 million square feet of office space. Americana at Brand - a $400 million retail, commercial and residential development - opened this spring next to the Glendale Galleria, another of Southern California's largest and most popular malls. Carlos Handyman in Glendale is a bilingual handyman serving Glendale, Burbank & nearby areas of San Fernando Valley. (Se Habla Espanol)

ABOUT CARLOS HANDYMAN - (Se Habla Espanol)

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We are a family-owned-operated maintenance & handyman services with care!. We are dedicated to providing our clientele with prompt, professional and friendly service. Our goal is to ensure complete satisfaction of every customer while offering knowledgeable and great customer service at affordable rates. We provide quality work at reasonable fees!

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DISCLOSURE:

Carlos is NOT a licensed Contractor, Carlos is an EXPERIENCED unlicensed HANDYMAN. Carlos has a business license in Burbank CA which allows him to do home repairs & maintenance services labor under $500 per Contractor's State Board Licensing Requirements. (owner to provide any material to be needed)

Market IndexA 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.

The Market Index back up 0.39 TEN points from 0.29 compared to 0.16 last year.

New Listings - 41 new listings this month, compared to 53 last month, versus 49 a year ago.

New Pending Listings - 42 listings entered escrow, the same for the last three months, compared to 35 in 2007.

Pending Ratio - 1.02, the highest this year. A year ago it was 0.71.

Listing Inventory - 248 listings, down from 295 homes last month. In 2007 we had 354 listings.

Sold Listings - 55 homes sold, compared to 43 last month and 54 last year. Watch for this to rise due to the high pending rate.

Average Sale Price - Declined again to $550,635 down 18.6% from last year.

Price Per Square Foot - After three months of increases it dropped in December to $336.99. Although down 10.5% from December 2007, it will be very interesting to see what the rate is after these listings currently in escrow close.

Conclusions

As the Pending Ratio continues to rise, closed sales will increase next month and the month following. More pending listings, combined with the steady decrease in listing inventory and the recent drop in interest rates are likely to put pressure on prices.

The economy is having an affect on the market, and as the government buys mortgage-backed securities, lenders will need to lend more money to make money. If the stimulus package works, expect lower interest rates.

Data from Itech and SRAR MLS has not been verified, is not guaranteed, and is subject to change.

For a consultation or questions feel free to call

It was one of those crystal clear blue sky white puffy cloud days that are so rare in Southern California. I had been diligently working all day at my computer trying to drum up real estate business when I decided to go out and enjoy one of Glendale and La Crescenta's best parks. I took my camera and my lunch and drove up to Deukmjian Wilderness Park.

This huge park has a historical stone barn that was built from 1914-1918 and is currently under a restoration adaptive resuse plan adopted by the city of Glendale. The site was aquired in 1898 by George Le Mesanger, a French Immigrant who was a wine grower and businessman. He raised grapes and made wine until prohibition. He resumed the wine business after that until a fire gutted the barn and swept through the area in 1933. The barn was then rebuilt and the upper floor was turned into residential quarters. They family lived there until 1960.

The property was purchased by a developer in 1968 who planned to build 250-350 homes on the site, but the city of Glendale obtained an option on the land in 1986. A park concept plan was developed in 1987 and the city bought the land for $5.2 million dollars. The site is 704 acres and is now a popular wilderness area and hiking site. In May 2004 Phase III was implemented and my husband Bob Yousefian, the Mayor of Glendale at the time, was on hand for the ribbon-cutting ceremony along with former Govenor Deukmjian who the park was named for.

As you will see by the photos, the park is a fabulous place to unwind and get away. When I was there, a young family was at the park flying a kite. The facilities are spotless and the park is unpopulated and undiscovered. I encourage you to take a walk in this park at your earliest convenience.

The address is 3429 Markridge Rd. in La Crescenta CA and park hours are 7 am til sunset. I hope you have found this useful and will take a break and visit this park. If you have any real estate questions please call me at (818) 668-4005 or email me at sue@ellertheseller.com. I am very familiar with the Glendale, La Crescenta, La Canada area and would be happy to assist you! Take a look at the pictures below to see what a great place the park is!

Here is a complete list of Glendale, La Crescenta and La Canada Open Homes. Burbank is a partial list. Al homes are open Sunday, Jan 24 from 2-4PM. Many are also open from 1 PM.

Address			Area	Bed	Bath	SF	Lot	Price
628	E	Palm #C	Burbank	2	3	1160	7446	$405,000
436		Spencer	Northwest	3	2	1900	7900	$839,000
812	E	Chestnut	Northwest	2	1	936	7087	$459,000
1230		Cortez	Rossmoyne	4	3	2861	8708	$949,000
1817		Tamerlane	Woodlands	3	2	1778	8105	$625,000
1923		Hampton	Northwest	4	4	3492	10980	$1,049,000
1961		El Arbolita	Montecito	4	5	3121	7845	$995,000
2052		Valderas	Montecito	2	2	1290	28024	$539,000
2141		Rimcrest	Rossmoyne	5	5	6755	78194	$1,975,000
3423		Ayars Canyon	Rossmoyne	5	5	5214	8075	$1,749,000
1860		Foothill	La Canada	3	3	1955	24830	$799,000
4645		Hillard	La Canada	4	3	2430	10200	$1,295,000
5227		Crown	La Canada	5	4	2874	29288	$1,349,000
5444		Castle Knoll	La Canada	5	3	3492	12608	$1,675,000
2331		Chapman	La Cres.	3	3	3549	11764	$1,345,000

If you are in a mood to "sight see" I highly recommend Hampton (so romantic!) and Hillard (excellent value). The "deal" of the bunch is Foothill. Great price for a good house in an unusual location (private but NOT quiet) with La Canada schools. If these do not float your boat click here for a quick and easy search of our local MLS.