It's the beginning of May -- where are the L.A. area houses for sale?

If you are searching for a home in the SFV or elsewhere in the L.A. area, you may be wondering why there aren't more homes for sale.  Or you may be wondering where the homes for sale are.  You're right -- inventory is very, very short, except for condos and townhomes.  And many, many other buyers are looking for a home as well.  Here's what you can do: 1) consider a different area.  I know you want to live in Silverlake or Studio City, but why not consider neighborhoods in Glendale or North Hollywood? Prices will be lower there, too, and most neighborhoods offer lots of attractions that you may like. 2) If you don't have a family, consider a smaller home or a condo.  You can usually always add on to a single family home, and if you need a home office you might be able to convert your dining room or garage space (I bet 95% of garage spaces are used for storage and not for parking.) I know, I know; this is all so easy for me to say.

If you are thinking about selling your home, you are probably wondering: a) where you're going to go.  The homes you may move into are just as expensive as the house you're selling.  So there goes your profit. And b) you want to stay put for your commute or your kids' school or another good reason.  Selling and moving will be really tough.  I don't have suggestions here, except: home prices have come roaring back.  If you are considering making a life change, this year may present great opportunities for you, at least as far as home profits go.  Will home prices continue to increase? Nobody knows.  If you're thinking about selling, I'm happy to prepare a comparative market analysis for you that will show you what you may gain -- just call me.

Glendale is Curbed LA's neighborhood of the year

Our little Glendale is Curbed LA's neighborhood of the year.  Really.  Okay, good.  Apparently, there are 1000's of new apartments/lofts/condos being built there, which kind of scares me but whatever.

Would you buy a hoarder's home? Somebody will.

Yesterday's NY Times had a very interesting article about selling a hoarder's home.  Yes, it sold.  It was on Park Avenue in NYC and went for over a million dollars.  Click the link here for the article.

Over the years, I've had two hoarder listings.  In each, the hoarders were really lovely, intelligent people who were not distressed in any other way.

The first was in an apartment building for sale in North Hollywood, and the buyer-investor didn't care as long as the tenant-hoarder paid the rent on time.  The tenant had her stuff piled up very neatly and had made paths through it.  The "walls" on either side of the paths were so high that I could barely see over them.

The other place was owned by two very brilliant people who just couldn't see how much junk they had.  They were willing to work through it, though.  With the help of family, they actually threw stuff away.  They filled eight City of Glendale dumpsters from a 1200 ft. Glendale house.  It didn't hurt that they were moving out of state.

Gorgeous Cape Cod in Adams Hill is now on the market

Check out 1221 E. Palmer in the Adams Hill section of Glendale -- it will be on the mls Saturday and is listed for $499,000. More pics can be found on my website at JudyGraff.com.  This adorable home is notable for its outstanding maintenance and the restoration of its original character charm, along with its peaceful hillside location.  The seller has done a beautiful job in making this perfect -- no detail has been overlooked. With peek-a-boo views from almost every room, this 2 bedrooms, 1-1/2 bath cottage also features a dining room, gorgeous hardwoods, large kitchen, dormer windows, laundry room (all appliances stay), garage, storage, central heat and air, and a flat backyard. Updated electrical service and plumbing, refreshed landscaping plus a whole-house fan complete the picture.  Adams Hill is located in south Glendale and is adjacent to Atwater and Eagle Rock.  This pristine neighborhood of character homes was listed by L.A. Magazine as “One of the Ten Best Neighborhoods (That You’ve Never Heard of).”  Please call me if you'd like to see it -- it will be open on Feb. 10 from 1 to 4.

Save the Rancho in Burbank

The Burbank Rancho neighborhood is one of the city's most unique features, especially if you're a horse or horse owner.  The homes are zoned (most of them) to allow the stabling and boarding of horses in the back yard.  There are Griffith Park riding trails close by, and the neighborhood blends into the Glendale Rancho area.  It is also home to the L.A. Equestrian Center.  The residents are understandably very protective of the Rancho and have faced -- and beaten -- challenges to development over the years.

Now, the GM training facility in the neighborhood has been sold, and the new developer wants to put up a 50-unit detached condo complex.  Most of the Rancho neighbors object as it affects the neighborhood's character and is just too damned big.  Last night's Burbank City Council held public comments on the issue and predictably, it was running about 20-0 against the project (some of the comments were, uh, very um, racist inappropriate).  The objecting area residents seem to favor an equine hospital instead.  If you'd like to learn more about this issue, please visit SavetheRancho.com.  Where do I stand? I understand why developers like big projects -- it's more money for them.  But why do cities like big projects? Why must all development be big, with all of bigness's attendant problems? If not the horse vet center, why not, say, 10 homes zoned for horses, such as the Dincara Street development?

Every-day, all-day wine tasting in Glendale

Winos (like me) rejoice! Glendale is now a destination for us. I popped into Red Carpet Wine at 400 East Glenoaks Blvd. yesterday.  If you're not familiar with Red Carpet, they have a complete stock of everything booze, and a knowledgeable staff to help you find what you're looking for.  RC also has a cool space for wine tasting with two new-fangled automatic pour wine tasting machines, one for red wine and one for white.  Here's how it works: you buy a plastic card with a set amount of money on it, then swipe it into the machine.  Next, you pick your particular wine and your particular-sized pour -- you can get one ounce, one half-glass, or a full glass.  When your card runs out of money, you just add more dollars again, just like at Starbucks.  And you can do this during Red Carpet's hours of operation.  Red Carpet also has several "event" nights -- Octoberfest is on the 12th -- with food trucks outside and tastings inside.  Check out their website at redcarpetwine.com (and RC, I'm ready for my endorsement glass of wine now).

Meet the new neighbors in Glendale -- coyotes!

Residents in North Glendale got a somewhat unwelcome surprise when a family of coyotes moved into an abandoned, fire-damaged house on Brockmont Drive.  Read about it here in the L.A. Times.  As many as seven coyotes may be living in the house, and some of them are youngsters...as in teenagers.

The powers-that-be in Glendale are currently deciding how to deal with the coyote family, which while making all the neighbors a bit nervous, has not caused any real harm...except for the fact that the teenage coyotes stay up late at night partying and playing music by Howlin' Wolf and Three Dog Night at peak volume.  Also, the Acme Supply Company truck has been seen outside the house delivering dynamite and other items used by at least one "wily" coyote to catch roadrunners.

There is no indication in the article about whether the coyotes plan to rehab/remodel the house and whether or not they've applied for any building permits.  The coyote family has not yet rsvp'd for the annual Brockmont block party, but if they come they plan to bring their special rodent kabobs.

Winner homes -- and not -- of the weekend

We were all over the place this weekend.  I won't give the address of the "winner" house since my clients are interested in it, but it is in Toluca Lake and has very fanciful decorating.  The bathroom picture is above.

The second pleasant surprise was at 543 Stocker in Glendale.  This is a typical 80's townhouse.  I have a bit of a prejudice against these as they're usually in neighborhoods that are way over-built by now, but was clean and nice and has 2 decent-sized bedrooms.  The living room is a little small, but for $299k...

And then there's 4276 Kling in the Burbank portion of Toluca Lake, which is a short sale.  Everybody, including me, loves this complex.  I could probably sell five townhomes there today alone if the price was low enough.  Alas, it just wasn't for my buyers. 

And now for the losers:  The first is a 1960's condo in Glendale.  The neighborhood is okay, and the place was clean, but it looks like the complex your grandmother lived in during the 1960's.  Just very apartment-y.  And there's no laundry in the unit.  And the home owners association dues are $429, but that includes all utilities.  This poor little unit just had nothing about it to love.

Then there's the condo on Oxnard in Valley Glen.  My clients and I have tried to see this twice.  The first time we were told it couldn't be shown because the bed wasn't made.  This time, we had an appointment and somebody was going to meet us there to wrangle the large dog.  But we were stood up.  My clients were very good-humored about it, but I felt really badly that their time had been wasted.  I think that just might be it for condos in Valley Glen, but you never know.

(Where the hell is) Sparr Heights, the land that time forgot

I know this post probably seems counter-intuitive since I usually work more to the west, but I previewed a really nice home (above) in Sparr Heights this week. You say you don’t know where that is? Why, it’s part of Montrose (which is the north side of Glendale [where it meets La Crescenta and La Canada]).  Not far from Descanso Gardens.  And the 2 Fwy.  And close to the best TJ Maxx in our area (in La Canada).

When I haven't been there for awhile, I am always instantly reminded of how nice the community is.  If you've never been there, here’s the dope: it’s a very pretty, residential area with an old-school, charming vibe.  The properties are unspoiled but well-maintained (mostly, anyway) single family character homes of about 1100 sf to 1800 sf, with old growth trees, old L.A. street lights (the area began to develop in the 20’s), no McMansions, no upzoning,  and good public schools.  Real estate prices start in the $500ks.  For you statisticians, here’s a link to the city-data.com entry, which also has a map.  The community is close to the Montrose shopping streets of Honolulu Avenue and Ocean View, which is also an area that chain stores and restaurants mostly forgot.  The shopping street probably has more mom-and-pop stores than any other area this side of Arizona, but it also has some really cool restaurants, including the newish and getting better-known-by-the-day Bashan. 

What’s the catch? It’s miles from anything except La Crescenta and La Canada (and the best TJ Maxx).  Americana at Brand isn’t really even close.  And you have to go over or around a mountain to even get to Pasadena.  That’s probably why it’s so unspoiled – nobody goes there that doesn’t already live there and the residents like it just the way it is.  And houses don’t go up for sale there very often.  Still, the neighborhood is definitely worth a field trip if you're considering a single family home in the price range.

Kendyl rocks multiple offers

My friend and top producing colleague, Kendyl Young, wrote a great blog post last week about how to deal with multiple offer situations.  It was so succint that I asked and received her permission to re-post it here (the italics are mine):

Last week I told you about a hot Glendale Home on Ridge. It was 3 bedrooms, 2 baths and had a pool with a lovely view. My friend, Anne, listed it for $499,000. She had multiple offers. The home is now in pending status and I thought a few details of what happened could help those of you who are active buyers.


First of all, Anne set a low price on purpose. This home was sold as a trust and the attorney wanted an auction-like scenario. Frankly, she could have created that with a price of $599,000- but $499,000 worked.

She received 40 offers.


Now, Anne is a true professional and she is not about to tell me what price was accepted, but she indicated that it was “high”.

There are some useful insights to be learned, here.

* With proper marketing and exposure, it is impossible to underprice a home


* There are a lot of buyers who have the ability to buy- don’t assume you are the only one.


* If you think it is a great deal everyone else does, too.


* Processing 40 offers is an insane amount of work. Make an offer designed to appeal to the listing agent as much as the seller.


* Know home values in the area you want to buy. Your offer should reflect exactly what you think the home is worth and not a reaction to the list price. (I would add that a low offer probably won't work and may not even get you to the counter-offer stage.  Brutal, but true. - Judy)

So here is a question for you. If the home of your dreams has 40 offers- what would you do? Make an offer or walk away? Would the number of offers influence your feeling about that home’s value?

Glendale lofts - an idea who's time has come, apparently

Rick Caruso was right all along, and we were wrong. Americana at Brand only has twelve residential units left for sale! Thanks, Phyllis Harb, for blogging about this. But don't worry. Even if you've been procrastinating about buying a Glendale loft, you'll still have an opportunity when the Circuit City project opens in 2012. Read all about it here, courtesy of our friends at Curbed L.A. The artist's rendering above is via Tropico Station.

Homes in Burbank, Toluca Terrace, North Hollywood and Glendale between $364k and $422k

I showed a bunch of houses in Burbank, Toluca Terrace, Noho and Glendale yesterday and here's my take:

6121 Auckland, North Hollywood $389k - a flip, and very nicely done. Only one street out of Burbank. Three beds, 2 baths and I'm told they have one offer in already.
1805 Hollywood Way, Burbank $355k - a short sale with a nice layout. Well kept up, possible alley access, but of course on Hollywood Way. Difficult to show.
10401 Margate, Toluca Terrace, $419k - a short sale in one of my favorite pockets. Nicely redone 3+1 with a nice big kitchen. Exterior needs a little work. Third bedroom is now an office without a door. One street outside of Burbank.
528 N. Griffith Park, Burbank, $422k - This foreclosure has been on the market for quite awhile and has fallen out of escrow at least once. It needs some work, but since the price was just reduced to $422k, it's now priced a little below comparable properties. It's a 2+1 with a huge, non-permitted (I think) guest house in the back. Main kitchen is large.
752 Glenwood, Glendale $389k - another flip, and cute as hell. But no backyard, teeny kitchen and proximity to Hoover High and a grade school make this a questionable buy for my clients, IMO.

Really nice house in Glendale

Colleagues Laureen and Doyle just listed this beauty at 3028 E. Chevy Chase in Glendale.  We saw it on our office caravan, and it is jaw-droppingly lovely.  It features 3698 square feet and is up against a lush, green hillside.  It is listed at $1,590,000.  Wish I could afford it. 

Btw, although Glendale is known for it's 1920's-1930's Spanish style and Monterey Colonials (not to mention it's 1990's columned palaces), I spotted two Lloyd Wright homes very close to this home -- what a welcome surprise!

Huge reduction on overpriced Glendale condos

The Excelsior at Americana has just reduced prices on all of its condos.  High time.  Prices used to run $842,000 to $1,124,000 for units from 1,338 sf to 1,529 sf.  Oh, yes, that's right -- they did have a view of the common area.  Was there really a market clamoring for condos at that price point in Glendale?  Are there really lots of buyers who wish to live over a shopping mall (actually, that might be fun) and pay a premium on Glendale real estate to do so?  Anyway, the prices are now $585,000 to $695,000 -- still high, but not out of line with prices on condos in the area. 

San Fernando Valley diversity and traffic delays, as if you didn't already know

Here's a Burbank Leader article with the title, "Valley residents more diverse, wealthy, delayed."  It contains facts from the U.S. Census Bureau re the demographics of our fair land.  I love that it refers to the SFV as "the nation's largest geographic non-municipal entity."  Other factoids: the SFV has 1.74 million residents (good God, is that all?), we experience longer traffic delays than other local areas (no!), more than half of SFV residents spend 35% or more of their incomes on housing, and Glendale has over 10% unemployment.  But the SFV still has no high-end, gourmet taco trucks.  When will we be worthy?

Maybe this is why Glendalians are such bad drivers

Remember about a month ago when an informal poll showed that Glendale drivers are the worst in the county? Well, now we know why, thanks to the L.A. Times. Read about Glendale's drug problems here.

"According to the city's Quality of Life report, which was released Oct. 30 and uses 2005 data from the L.A. County Department of Public Health, Glendale had L.A. County's highest percentage of adults who reported using marijuana and cocaine." Considering, it's probably a good idea to avoid Glenoaks Boulevard whenever possible.

Glendale is on track for another honorarium: local community with most a-hole drivers!

Curbed L.A. occasionally runs posts asking its readers to identify communities with the worst drivers. And today, you can Curbed's piece about awful West Hollywood drivers. But wait! Check out the comments! It appears that Glendale is, uh, coming up fast on West Hollywood and may even over-take it! Major props, Glendale! I can hear the chants from speeding beemers on Glenoaks now: "We're number 1! We're number 1!"

The government already mandates insurance - fire insurance

Mercifully, the local fires have not yet destroyed many homes. Are people who own homes in high fire hazard areas able to even get hazard insurance? Yes, thanks to the government. And you.

California Fair Plan was adopted by the state legislature in 1968. It guarantees that insurance companies who do business in CA must contribute to an insurance pool that will issue a fire insurance policy of “last resort.” In other words, if you live too close to stuff that burns up and can endanger your home (see Glendale’s information here for example), nobody will issue you insurance – except the California Fair Plan. At a great rate, btw. And it’s financed through the payments the rest of us make on our hazard insurance premiums. Does this encourage home building in high fire hazard areas? Of course it does -- and has.

With fire season just beginning, and with substantial areas of the state already in flames, I wonder if any so-called “tea baggers” who live in fire-endangered areas are happy they have government-mandated fire insurance on their property?

Nicest house of the week, so far

This is 1251 Graynold in Glendale. Listed by my collegues Laureen Endoso and Doyle Barnes, it's a 3 bed, 1.5 bath, 1692 sq ft on a 6480 sq ft. lot. List price: $679,000. It's really nicely done inside as well. More pictures are on my site at www.JudyGraff.com. For those of you who don't know Glendale, this is in northwest Glendale, above Glenoaks.

Questions from a recent transaction

Question 1: should non-profit, city government-funded housing entities sell houses that are unsafe?
Question 2: should non-profit, city government-funded housing entities sell houses to investor groups?

These questions have to do with a recent client transaction. Some names have been changed to protect the innocent (and me!).

My clients, Mr. and Mrs. Buyer, are approved for an FHA loan. We have been looking for a home for them since February. They found a home in Glendale that seemed to perfectly fit their needs.

The house was owned by Verdugo Housing Corporation, a non-profit organization that, I’m told, is chartered by the City of Glendale. I understand that Verdugo Housing was formed as a non-profit city partnership to increase affordable home ownership in Glendale.

Verdugo Housing had recently purchased the property for somewhere in the $200,000’s and had done a cosmetic rehab (carpet and paint). The home was for sale in the very high $400,000s and Mr. and Mrs. Buyer made a full-price offer just before it went on the market. Escrow was opened in April.

We repeatedly asked for legally-required physical inspection disclosures, but VHC never furnished them to us. And the house inspection did not go well. At all. (Recall that FHA will not fund loans on substandard houses.) The roof was crumbling. A couple of rooms that were added on were not attached to the foundation. The a/c and the stove didn’t work. The electrical work was substandard in places. Those were the major issues; there were many minor issues as well.
The buyers asked the sellers to fix the major issues; after all, a non-profit housing corporation would not want to sell substandard homes, right? To our surprise, the VHC declined to do so. My broken-hearted clients cancelled the escrow. We heard through the grapevine that the day after escrow was cancelled, Verdugo Housing Corporation sold the house on an all-cash deal to a group of local investors, who intend to rent it out.