Glendale, CA

Glendale, CA September , 2008

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.

Our up and down market continues, 0.30 for September after 0.33 in August.

New Listings - One hundred seventy two new listings, compared to 134 last September. It is unusual for the new listings to increase, probably due to more forced sales.

Pending Ratio -That big jump in new listings affected the Pending Ratio, only 47 homes opened escrow giving us a ratio of 0.27, about half of the 0.55 we experienced in August. Interestingly 0.27 is the same ratio we had a year ago.

Listing Inventory - Three hundred forty five homes this month, up eleven from August. Last year we had 490, so we can see that although new listings has increased, total inventory is lower.

Sold Listings - Fifty-six homes sold, compared to 39 last year, down slightly from the 61 homes sold in August.

Average Sale Price - Dropped to $548,107, down 26.7% from last year. This was due in part to the size of homes sold this month (smaller).

Price Per Square Foot - Declined to $343, down 20% from last year.

Conclusions

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

Buyers are definitely taking advantage of the shift in prices. Homes that are properly prepared, marketed, and priced are selling with a few weeks, some with multiple offers.

For a consultation or questions feel free to call.

Glendale Buyers often ask me, "How long has this house been on the market?", and I always ask back, "What will that information tell you?"

The truth is, the buyer often has no idea beyond the concept that the longer it's on the market, the more motivated the seller must be.

While that is often true, there is so much more you can learn!

There are two "Days on Market" numbers in the MLS. The first is the number of days the listing has been with this particular listing contract. There is no real explanation needed, here. 9 times out of ten, if you ask your Realtor how long the home has been on the market, they will give you this number.

The real juice, however, is in the second number, the "Cumulative Days on Market"(CDOM) and the "Listing History". The CDOM is the number of days the home has been on the market in the last 365 days. Sometimes this will tell you the home has spent a whole wack of time moving through the distressed sale process. Sometimes this number will reveal an unrealistic seller. 287 days at the same price? Move on, this sucker ain't gonna sell. (Or it is about to go short or foreclose)

At a minimum, the CDOM will tell you if you should look at the historical listing data - the record of a homes marketing journey going many years back. This information can often tell you if the property has had a history of problem selling or it might reveal when the seller is likely to drop their price again.

If your agent isn't sharing the historical data with you, shame on them! Ask about it and demand to see the data from them. If your agent isn't in the same MLS as I am, they are still able to get their hands on the data. Don't let them fool you. A good, professional agent, will give you this data without you asking, especially when you're getting ready to write that offer. If they don't, shame on them! Demand to see it.

There is some seriously good hiking in the hills behind Brand Park. Regular hikers know that there are two trail heads in Brand Park: the fire road that starts at the Doctor's House and the "Ridge" that starts at the Miss American Green Cross. Today I want to talk about the "Ridge". The statue at the trail head is one of the most unusual I've seen. Here is what the Glendale City Website has to say about this statue:

The statue of Miss American Green Cross was created in 1928 as a tribute to an early 20th Century tree society and a symbol of the deforestation that was taking place across the country at that time. After a car crashed into the statue, it was dumped behind Brand's Castle, and laid abandoned for 30 years. Hikers discovered it in an overgrown canyon in the mid-50's reporting that the arm of Miss American Green Cross was missing. It was assumed that vandals had carried it off. In 1981 the monument was taken to the city maintenance yard where she remained for 10 more years ~ until Glendale Parks, Recreation and Community Services, along with the organization Glendale Beautiful, raised money to have her restored.

The statue was created to commemorate preservation of our forests and to remind everyone that trees are a renewable resource - if you manage them properly. Even in 1928 there were forward thinking environmentalists... Anyway, the "Ridge" is always my favorite route. It is steeper, more rugged and challenging and, frankly, shorter, than the fire road. In a couple of places you need to scramble up a short stretch with hands and feet. The Ridge dumps you out close to the abandoned reservoir and, from there, you can continue up to the towers. Take the road less traveled. Visit Miss American Green Cross and contemplate our forests. You'll be glad you did.

Farmers' Market Information for Glendale

Day: Thursday

Hours: 9:30 AM to 1:00 PM

Location: Brand Boulevard, between East Wilson Ave & East Broadway

City: Glendale

County: Los Angeles

Manager: Christopher Nyerges

Office Address: P.O. Box 41834, Eagle Rock, CA 90041

Phone: 818-548-3155

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

So, you're probably wondering, what's Fresh Right Now! This is a great time for fresh veggies if you like Spinach, Avocados, Winter Squash, Brussel Sprouts, Mushrooms, Green Beans, Beets or Chinese Broccoli. 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.

Glendale 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 Thursday between 9:30 am and 1 pm to the Glendale Farmers' Market this week and every week!

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