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Archive for La Canada home sales

La Canada Home Value & Shadow Hills Real Estate Bargain

Posted on October 30, 2009 by John Hickey

Well, it has certainly been quite a while since I posted anything!

La Crescenta Real Estate sales have been very strong over the last several months. Over the next days and weeks I’ll bring you up-to-date on real estate sales & activity in the Foothills.

The two homes that really stood out on caravan this week were:
A great La Canada California View Home for Sale, and
A special value on a Shadow Hills Horse Property for sale.

First, on Tuesday I visited this La Canada Home – located at 334 Saint Katherine Dr is a beautiful opportunity.  A fabulous view, a pool, tons of privacy and ready for you to update and remake into your dream home.  For more information click on the link:  La Canada View Home.

Today I checked out this Shadow Hills Estates home at 10053 Janetta Way.  This home is an equestrian property in Shadow Hills on a 20,000 sq foot lot featuring a pool.  For more information check out Shadow Hills Horse Property.

You can reach me by commenting in this post or calling.

Have a great Halloween!

Categories : Horse Property, La Canada Homes, Los Angeles Real Estate, Shadow Hills
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Foreclosures, Recessions – What is Going On?

Posted on April 16, 2008 by John Hickey

The press reports are certainly coming up with a lot of negative info these days.  Sales down 40%, prices down 15%, recession, no recession, and on, and on, and on.

What is going on in our neck of the woods? …La Canada, La Crescenta,  Sunland/Tujunga, Shadow Hills and the northern portions of Glendale?

The good news: The average price in the Foothills has only dropped by about 3% overall – vs. around 15% for LA County. This varies greatly throughout the various Foothill communities. For exact info on different neighborhoods, send me an email or leave me a comment here. While prices have been dropping, the length of time to sell a house has gone up dramatically – from an average of 67 days in 2007 to 94 days in 2008. The last piece of information is that the average size has gone UP. From 1744 sq. feet in 2007 to 1844 in 2008.

So, to summarize it’s taking an extra month to sell a home that’s 6% bigger than last year and get 3% less than last year. That’s what a buyer’s market looks like.

On the other hand… Foreclosures in the Foothills:
 
The chart above shows various stages of foreclosure activity in the Foothills.  The white columns indicate how many homes banks have taken title to each month – a total of 98 properties through March.  The blue column indicates the number of homes that are begining the process – which, as you can see, is rising,

In the following chart you can see the number of homes sold has gone down by about 50% from last year.  Even more troubling is the comparison of homes sold to the number of homes that banks have to sell.  The previous chart shows banks took about 98 properties so far this year in foreclosure.  Meanwhile a total of about 154 homes have sold.  In other words, 2/3 of the sales in the future will be bank-owned properties (if things continue at this rate).  This is putting tremendous pressure on prices.

So far, the local economy has not been a negative.  Let’s hope that our job picture remains healthy.

Home Sale info taken from iTech MLS; Foreclosure info courtesy of Chicago Title. Both are deemed reliable but not guaranteed

Categories : La Canada Homes, La Crescenta Homes, La Crescenta Stats, Local Foreclosure Information, Sunland Tujunga Homes
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Anthony “Tony” Parisi – Local Lender

Posted on March 10, 2008 by John Hickey

Tony Parisi

A local mortage broker in the area, Tony Parisi, is coming on board Verdugo Hills House Talk as a regular comentator on lending & financial matters. Especially as they affect our area here in La Crescenta, La Canada, Glendale and the surrounding area.

His bio (the short version) follows:

Over 15 Years of Lending Experience
11 years with Ambassador Capital Mortgage

With over 15 years in the mortgage business, and over 10 years with Ambassador Capital, Tony Parisi is a skilled professional, bringing expertise, honesty and integrity to his position.
Tony has vast experience in structuring real estate loans for all types of properties and borrowers, and is backed by a company with access to thousands of loan programs.
Customer service is a priority with Tony and he strives to ensure his clients are kept fully informed of developments throughout the entire loan process.

Tony holds a B.S. degree from University of Southern California.

Here is Tony’s first post:

….. “My input for Verdugo Hills House Talk will be to keep readers up to date with information and insight to today’s mortgages and home loans. To begin, an understanding of the current mortgage market in the United States really requires a look back at history.

Loan Rates - Last 30 Years

For a thirty year period from 1971 until 2001 (shown) interest rates on the 30 year fixed rate mortgage has been at or above 7.00% except for only a few rare months of time. During the last thirty plus years the mortgage market has evolved due to de-regulation, development of the U.S. debt or “bond” markets, and securitization and sale of U.S. based mortgages worldwide. The result of this sophisticated market for mortgages has ultimately lead to lower and lower interest rates on mortgages.. Since the extreme highs on the early 1980′s the trend has bounce and fallen by periods of recession and growth, inflation and price stability but has continued lower due to this development and expansion of available credit to own homes. Historically speaking consumers are currently experiencing a period with some of the lowest interest rates ever available.”

Tony can be reached at:
Direct: 818-949-7878
Cell: 818-482-0407

Categories : Loan Information, Verdugo Hills
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Great News on FHA Loans

Posted on March 7, 2008 by John Hickey

First, a little good news for home owners and home buyers in the Verdugo Hills!

H.U.D., the Federal Agency that regulates FHA loans has increase the FHA loan limits for our area from $362,790 to $729,750. This will enable many of the individuals & families who are unable to qualify for “Jumbo Loans” to buy a house. Some estimates say this will help as many as 33,000 California families buy a home – including our areas here in Sunland, Tujunga, Glendale, La Crescenta, La Canada & Shadow Hills. And, as you can see by the sales stats included here, it’s about time!

2008 Verdugo Hills Sales Stats

The sales figures here don’t show the increased activity of buyers shopping and making offers in the market place which is literally occuring as I write this post. Pent up demand has been building since the financial markets went into crisis in August 2007. In future posts I will show how and why more buyers are starting to re-enter the market place.

Sales information is taken from i-Tech MLS, has not been verified, is not guaranteed and is subject to change.

Categories : Internet Real Estate, La Canada Homes, La Crescenta Homes, La Crescenta Stats, Sunland Tujunga Homes
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