La Canada, CA

Real Estate Market Report

La Cañada Flintridge, CA November, 2009

La Cañada Flintridge is continuing to retain the unique privilege of having one of the lowest Market Activity Indexes, moving down from number 6 to number 2 from the bottom. Prices appear to have resumed a downward trend, so if you are interested in buying, this would be a great time.

Market Index 0.35, down 3 points.

The Market Index is at 0.35 down 0.03 from last month's 0.38 and up .19 from last year's 0.16.

New Listings - 17, down from 20 last month and last year's 16.

Pending Listings - 9 listings opened escrow, down from 10 last month. Last year 4 properties entered escrow.

Pending Ratio - At 0.53, up slightly from 0.50 last month. A year ago it was 0.31.

Listing Inventory - 63 properties were on the market, down from 72 homes last month and down from 87 last year. Inventory continues to decline.

Sold Listings - 17 homes sold, down from 23 last month. Last year 11 homes sold.

Absorption Rate - 4.5 months up from last month's rate of 4.2 months. In 2008 it was 8.7 months.

Average Sales Price - $1,143,020, down from last month's $1,322,441 and down 7.2% from last year.

Price per square foot - $457.03, down from last month's $464.83 and down 10.7% to last year.

Conclusions

The Market Activity Index continues to decline, perhaps aided by the lack of competitive financing for loans above $729,750.

For buyers - Beware of strong competition for "good deals". Appraisal issues continue to cause problems and lengthen escrow time for transactions. Hint: listings that have longer market times (over 60 days) are probably inclined to accept a lower offer, averaging around 10% less than list.

For sellers - Selling property is not the key problem, rather marketing and preparing your property to maximize the sale price and minimize negotiating to result in a successful close of escrow. Offer buyers "extras", such as picking up the sewer bond, might be helpful. Appraisals can cause headaches as the market turns.

Keith Sorem DRE#01374635

Glendale Realtor of the Year 2009

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

In a vote directly related to the economy, La Canada Flintridge residents have voted to approve Measure LC, giving the award-winning La Canada School District a much-needed influx of funds.

Measure LC provides for a parcel tax of $150 per parcel, per year for each of the next five years. 

There is a Senior Exemption for residents age 65 and older, and and exemption for owners of contiguous parcels owned by the same owner (so that owner pays the tax once for the contiguous parcels).  To qualify for these exemptions, you must apply by July 17th, 2009.  More information is on the Measure LC website here:  Measure LC Frequently Asked Questions.

***********************************

Follow Fran and Rowena on Twitter - Fran and Rowena on Twitter

Become a Facebook "fan" - Fran and Rowena on Facebook

This weekend is the annual Fiesta Days celebration in La Canada Flintridge. There are events scheduled throughout the weekend.




Today you can go to "Afternoon In The Park" which includes a Food Court, Games, Music and more at La Cañada Memorial Park from noon to 3:30 p.m.

Tonight is the Family BBQ, Music and Fireworks Show at Memorial Park. The BBQ dinner starts at 6 pm. Bring your blanket, or stake out one of the tables and chairs that are set up on the grass. The High School Jazz Band will perform at 6:30 pm, followed by the fireworks show at 8:30 pm.




Tomorrow, Memorial Day, starts out with the Crescenta Cañada YMCA Fiesta Run. The start is at Descanso Gardens at 7:30 a.m. We like to watch the runners go by our front yard.

You can attend the Memorial Service at La Cañada Memorial Park at 9:00 a.m.

And, what would Memorial Day be without our local parade! Each year the two east-bound lanes of Foothill Boulevard are blocked off for the event. This year's theme is "Team Up for Schools" and the Grand Marshalls are the local area school principals. The parade starts at 10:30 am. We like to say that everyone from the community is in the parade - so we need you to come out and watch the parade!

For a pdf Schedule of Events, go here: Schedule of Events

We hope to see you there!

Follow Fran and Rowena on Twitter - Fran and Rowena on Twitter

Become a Facebook "fan" - Fran and Rowena on Facebook

La Canada Flintridge has it's annual Spring Clean-Up Week from May 18 to 22, 2009. During this week, on your regular trash day, bulky waste can be placed and the curb and it will be picked up FREE OF CHARGE!

Bulky items can include furniture, appliances, electronic equipment, clothing, tires ... stuff that you have been stashing aside until you could figure out what to do with it!

Of course, donating usable items to a local thrift store or charity can be a good idea.

Note that hazardous or toxic items are not collected. For information about hazardous waste disposal call 1-888-CLEANLA or check the website - www.888CleanLA.com This is a great opportunity to do some spring cleaning! It's easy - and free!

********************

Additional blog posts about La Canada Flintridge:

La Canada Home Statistics as of May 1, 2009
Nasa Jet Propulsion Laboratory Annual Open House
La Canada Commuity Scholarship Foundation Raffle
Cheers to Andrew Celebration and Fundraiser
5th Annual Andrew Torres Memorial Golf Classic
88th Annual Childrens Horse Show
Spring and Summer Classes at La Canada Community Center
Descanso Gardens Events
La Canada Easter in the Park
Beatles Tribute Band at Descanso Gardens
La Canada Home Statistics as of March 1, 2009
Spotlight on La Canada Flintridge Educational Foundation
La Canada Amgen Cycling Race - Lance Armstrong
La Canada on Course of Amgen Cycling Race
Historical Home Tour - La Canada and La Crescenta
La Canada High School Theatre Department
La Canada Home Statistics as of February 2, 2009
La Canada newspapers
La Canada Fun
La Canada Flintridge Event - Camellia Show
La Canada photos
La Canada Junior Baseball and Softball sign-ups
Home Sale Statistics as of January 1, 2009
La Canada High School - Congratulations
La Canada Skate Park
La Cañada Tournament of Roses Association
La Canada - spotlight on La Canada Flintridge Community Center
La Canada – spotlight on Descanso Gardens
La Canada Hiking Trails
La Canada Hiking Trails - photographs
La Canada Home Statistics as of December 3

Follow Fran and Rowena on Twitter - Fran and Rowena on Twitter

Become a Facebook "fan" - Fran and Rowena on Facebook

La Canada Flintridge - monthly market activity statistics* report as of May 1, 2009 –

Prior reports –
La Canada Home Statistics as of March 1, 2009
La Canada Home Statistics as of February 2, 2009
La Canada Home Statistics as of January 1, 2009
La Canada Home Statistics as of December 3, 2008

Active Residential Listings as of May 1 -
Quantity - 128
Minimum list price - $449,900
Maximum list price - $5,999,000

Contingent/Pending (accepted offer, in escrow) as of May 1 -
Quantity - 35
Minimum list price - $788,000
Maximum list price - $4,995,000

Sold Residential Listings, with close of escrow 4/1/09 to 4/30/09 -
Quantity - 13
Lowest sale price - $630,000
Highest sale price - $2,550,000
Average sale price - $1,249,808

Note: looks like we missed the April 1 numbers ... how did that happen?

Search La Canada listings here: La Canada homes for sale

Fran and Rowena
Dilbeck Realtors GMAC
(818) 952-0077

Fran and Rowena serve the greater Foothills communities of La Canada (also known as La Canada Flintridge), La Crescenta, Pasadena, Sunland, Tujunga, Glendale, South Pasadena, Altadena, Arcadia, Burbank, Sierra Madre, and the greater Los Angeles area.

Dilbeck Realtors is independently owned and operated.

*Disclaimer: This information is provided as a courtesy, and from data obtained from the multiple listing service. Information is deemed reliable, but not guaranteed.

**************************

Follow Fran and Rowena on Twitter - Fran and Rowena on Twitter
Become a Facebook Fan - Fran and Rowena on Facebook