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.