Showing posts with label Valley Village real estate. Show all posts
Showing posts with label Valley Village real estate. Show all posts

News of the week and house of the week in Valley Village

Whew! Coming up for air here, and bringing you news of the week.

First, the house of the week: 5501 Morella, Valley Village, $499,994, 3+1.5, 1334 sf, pictured above.  I showed this last night and it's in a cool little pocket.  The house needs decorating, but it's clean and has been expertly maintained by the sellers.  I wish my carpet looked as good, and I wish my kitchen was as spacious.  If you are looking for a decorating project, this would be a great buy.

What did I tell you about L.A.'s "eastside"? You'll see my take on Highland Park, et al, below -- I toured the area recently and was really impressed.  Now, Alejandro Lazo of the L.A. Times has a front page article entitled Investors flip over Highland Park.  That's just what I saw when I was there a few weeks back.

And now for the really big news: I have two listings coming up in Burbank. One is a (rare) architectural home designed by a noted architect, and the other is close to the Chandler bike path.  More news soon!

Finally, 1585 Knollwood, Pasadena is in escrow, after less than a week on the market.  We're still showing for backups. I'll miss going to this house; the setting is just so serene.

It never rains, it pours...

Whew! I submitted a purchase offer for an Echo Park buyer today.  Showed a condo in Van Nuys.  Set up showings for tomorrow in Valley Village. I took two listings in Burbank, got one offer in on a listing that we then countered, and am about to write yet another offer in Sherman Oaks.  I don't remember being this busy since 2006.  Believe me, I'm not complaining and I'm not bragging.  But if you're wondering about how the market is doing, I think it's doing really well.  I'll be back on this blog when things calm down a bit.

Lowest price and highest price active listings in Studio City, Sherman Oaks, Valley Village and Toluca Lake

Thanks to our manager, I have the stats on the lowest and highest prices for homes for sale in Sherman Oaks, Studio City, Valley Village, and Toluca Lake as of this day.  These are all active as of today, and it lumps condos and single family homes together. Sorry, Burbank, no stats for you right now:
Sherman Oaks lowest home price: $329,923
Sherman Oaks highest price: $2,495,000

Studio City lowest price: $489,000
Studio City highest price: $10,000,000

Valley Village lowest price: $379,000
Valley Village highest price: $1,595,000

Toluca Lake lowest price: $525,000
Toluca Lake highest price: $8,299,000

Houses of the weekend, or not

I've seen a bunch of new properties in the San Fernando Valley in the last few days and here's my take on them.  In some cases, here are my clients' takes on them, too.

3833 Ridgemoor, Studio City (pictured above) is a 2 bed, 2 bath + den in the hills for $549,000.  It has been listed for awhile.  The setting is gorgeous and green and I love the organic look of the wood siding.  But the house seems a little precariously pitched against the hill.  There are some signs of displacement and the floors slope, which is not uncommon in this area.  But that's not what my clients were looking for.

14312 Califa, Sherman Oaks but really Van Nuys is a 3+2 plus bonus room for $569,500.  This area is tricky, as are many SFV areas -- the major artery streets look beaten up and a little scary, but once you get off those and into the residential areas, the neighborhoods get very nice and peaceful.  Anyway, this house has been professionally redone and looks really nice.  It may be a flip.  We were a little put off, however, by the Realtor's flyer -- "On the Market Three Days and Already has Offers!"  That's really not what first-time buyers want to see, especially when, as in this case, it's not true, as the agent later confirmed.

12414 Albers, Valley Village is a 3+2 for $598,000.  Great neighborhood and a nicely updated done house with a great floorplan.  Some of the countertops and other finishes look like they're from the last remodel.  Nothing wrong with that, just saying. 

5732 Wilkinson, Valley Village is a 3+2 with a pool for $579,000.  This was my clients' favorite.  It has really pretty light wood floors, a custom remodeled kitchen and a stand-alone fireplace separating the living room and dining area.  The backyard is all tile, and while the pool looks recently redone, the yard slopes towards the house.  Needless to say, this is bad for drainage -- the last thing you want is a pond of water up against your foundation.  Fixable? Very likely, but for a price.

11641 McCormick in Valley Village is a 3+2 for $519,999.  It, too, has been nicely redone and just had the price reduced.  However, the location is really less than ideal.  You can hear the 170 Fwy, there is plane noise overhead, and you can see North Hollywood High (yikes! teenagers!) at the end of the street.  The backyard needs to be sodded, too.

One of the houses had a bidet (!) but I can't remember which one.  If a bidet is on your housing wish list (is it? be honest), call me and I'll put my memory hat on.

My house of the week, however, is another Burbank townhouse at 230 Bethany #119.  It's an REO and is listed for $347,000.  It has two huge patios, and nobody above or below it.  Plus, a bonus room has been designed to be a third bedroom or den.  This is a very popular complex in Burbank and in my opinion, this is a killer price for a unit this nice in this location.

 More later!

Colfax Elementary in Valley Village is too good for its own good

This article by Cathy Flynn just appeared in the North Hollywood/Studio City Patch.  Also, I just noticed that a former Valley Glen elementary school is now Ararat Charter.  Anybody got any info on that?

Colfax Reaches 910 API and Closes Its Doors to New Enrollment

This highly sought school becomes a little too popular.

Can a school be too good?
With all the news these days of failing schools, falling test scores and high school graduates who are not prepared for college, the schools that are doing well make the headlines, are celebrated, and publicized as a goal for other schools to emulate.
And then there’s Colfax Charter Elementary School in Valley Village.
It used to be a well-kept secret that Colfax was a great little gem of a school – kind of like Carpenter without the bucks. The school is diverse, with a very active parent base. Its charter dictates that its core academic curriculum be integrated with arts, science and technology, and Colfax’s graduating students easily excel at the middle school level along with high-performing private and public elementary schools that are much more affluent.
Three weeks ago, API (Academic Index Report) scores were announced and Colfax hit an astounding 910 (anything over 900 is considered very impressive). But Colfax is not hanging up its banner to publicize the good news.
Why?
Colfax has reached its capacity, and new students – even if they live in the Colfax district – are now being turned away and forced to go to nearby Riverside Drive Elementary School in Sherman Oaks.
In 2008, with just over 500 students, Colfax became an affiliated charter, which means that they are still a part of the Los Angeles Unified School District, but they have flexibility in instructional programs and budgets.
Ten years ago, Parents Association of Colfax Elementary (PACE) had an annual budget of about $3,000 to pay for capital projects and extracurricular activities. Today, the budget has increased 100 fold to nearly $300,000. Parents collectively pay for classroom aides, extra science and math programs, a working farm (with both plants and farm animals), violin and keyboard instruction, chorus, orchestra, visual arts, theatre, dance, a computer lab and laptop carts.
Early this year, principal Susana Gomez-Judkins could see that Colfax was filling up. A well-publicized first day registration in April attracted a line of about 80 families rushing to enroll their children for the fall. More families registered in the following months. A preschool class for special needs children was relocated to Riverside Drive to make room for the additional enrollees. Late spring, an LAUSD redistricting committee closed the option areas that Colfax shared with nearby Carpenter Community Charter School in Studio City, Riverside and Rio Vista in Toluca Lake. But on Aug. 31 – exactly one week before the start of the 2011-2012 school year – Colfax had reached its capacity limit.
“We would love to take everyone in the area and accommodate all the kids,” says principal Gomez-Judkins, but she is adamant about keeping the school small.
She is reluctant to consider constructing additional buildings or bungalows for the school.
“It would impact the ability for us to provide a quality program.” She notes that the original charter dictates that Colfax serves approximately 500 students, yet that number has mushroomed to its current population of 647.
“Obviously we have an obligation to serve all the neighborhood kids,” Gomez-Judkins states, and she finds it heartbreaking to turn away children who live walking distance from the school. Yet she must abide by the policy of  “last one in, first one out” when it comes to enrollment.
Although it may at first glance seem like a ruthless task, Gomez-Judkins is actively pursuing families who have lied about their residency and actually live outside the Colfax district. A spot taken by someone who should legally be going to a different school prohibits someone else who rightfully lives in the area from being allowed to attend.
This has sparked occasional rumors from parents who speculate that other students may live outside the area. Gomez-Judkins intends to keep inaccurate rumors from turning into a witch hunt by having parents tell her directly.
“It’s not hearsay, it’s not a rumor, it’s not some other person told me,” Gomez-Judkins advises. “If you have first-hand knowledge about it, don’t gossip about it with your friends. Tell the front office and don’t tell anyone else. That limits the witch hunt mentality.”
An example would be if they were invited for a play date and the house was in Van Nuys. Gomez-Judkins has been known to knock on the door of the home listed on the enrollment form and ask to see the child’s toothbrush.
The principal used to have a hard time playing bad cop in kicking out the families who lied on their application, but now she feels like it’s a necessary evil that’s required to protect the families who deserve to be enrolled.
The cap will have an even greater affect on next year’s enrollment because overcrowding may prompt the necessity for fewer kindergarten classes.
Gomez-Judkins suspects that Colfax grew more popular when it became an affiliated charter.
“But Riverside Drive is now an affiliated charter. Carpenter is an affiliated charter. Sherman Oaks Elementary an affiliated charter,” the principal states. “Increasingly there are more options for people to pursue in the affiliated charter area. There are a lot of great things going on in the local schools. Colfax doesn’t have to be the only one drawing in these kids. There are a lot of other schools looking for those families to change their school communities.”
Perhaps it will be just a matter of time before Riverside Drive Elementary becomes the hot new affiliated charter school and they, too will need to cap their enrollment and send students off to yet another public school.

For real estate, these are the "dog days"

Regardless of how the r.e. market is doing, every mid- to late-August, the local real estate market slows down.  Of course, it's doing that this year, too.  I often refer to this period as "the dog days of summer."

The official definition of "dog days" on Wikipedia is really interesting; here's a quote: "A casual survey will usually find that many people believe the phrase is in reference to the conspicuous laziness of domesticated dogs (who are in danger of overheating with too much exercise) during the hottest days of the summer. When speaking of "Dog Days" there seems to be a connotation of lying or "dogging" around, or being "dog tired" on these hot and humid days. A similar myth asserts that the time is so-named because rabid dogs are supposed to be the most common then. Although these meanings have nothing to do with the original source of the phrase, they may have been attached to the phrase in recent years due to common usage or misunderstanding of the origin of the phrase."

Why does the real estate market slow down? People are getting in their last-minute vacations, getting kids ready for school, no longer feeling the imperative to close before the end of the summer, etc, etc.  Of course, bad economic news has an impact as well, but trust me, it's always slow at this time of year.

If you're a buyer, and are disappointed by how few homes there are for sale in Burbank, Studio City, Toluca Lake, Valley Village, etc., please know that you're not alone.  Inventory usually picks up about the second week in September.  And of course this is the time for price reductions on homes that have been on the market for awhile.  Remember, you're only looking for one house.

A really nice surprise in Valley Village

This home is the nicest surprise of the week. It's located at 5523 Voletta Place in Valley Village, and is now listed at $709,000.  The neighborhood is very cool in a late 1970's-early 1980's way as the same developer built all the homes in this and adjacent cul-de-sacs.  The house has five, yes, five bedrooms, 3 baths, a big redone kitchen, a pool, new windows, attached garage, lots of system upgrades and more in 2500+ sf.  I personally think this is a fabulous deal in this neighborhood for somebody that needs a lot of space.

Deal of the weekend in Valley Village

This house at 5236 Bellaire in Valley Village impressed me.  It’s a 2+1.5, 1310 sf on a 6982 sf lot, with an added-on den and a screened-in patio and has a new roof, new windows, and sparkling pool.  The decorating is completely dated but the house is priced to sell at $525k.  There is real pride of ownership here -- you can tell that the senior owner has expertly fixed and improved anything that has broken there for the 40+ years he’s lived there. I bet there’s not a single screw that needs tightening on the property.  Again, the decorating is dated, but the house is in pristine condition and is in a terrific location, too.  And since yesterday was Fathers' Day, here's my belated shout-out to all the senior dads and grandfathers who knew how to fix absolutely everything!

I've joined a new real estate company!

Yesterday, I ended my eight-year long association with Dilbeck Realtors and joined Aaroe + Williamson, a division of John Aaroe Group.  My new office will be in Sherman Oaks, but I'll still be covering Burbank homes for sale, Studio City real estate, Toluca Lake, Toluca Terrace, Glendale, Hollywood Hills, North Hollywood, Valley Village, Valley Glen and Sherman Oaks real estate.  And of course, as needed, Pasadena, Eagle Rock, the West San Fernando Valley, Silverlake, downtown L.A., etc., etc.  I cover the waterfront for my clients.

It was difficult to leave Dilbeck Realtors.  I've been in that office for 8 years (10 if you count when it was Coldwell Banker) and the people there are like family to me.  I know that's cliche to say, but it's true.  I have been very comfortable there.  Too comfortable.  I am ready for new real estate challenges, a new outlook, and new clients, and the John Aaroe Group fits the bill. (Call me or email me offline if you want more details.) I'm thrilled to be with r.e. geniuses John Aaroe's and Michael Williamson's relatively new real estate company.

For those of you that are curious, yes, I investigated other brokerages (again, email me offline...), including Redfin. I think Redfin may indeed be the wave of the real estate future, but I was not ready to jettison my own online presence -- and that includes blogging for you, dear reader.  But I hope to become a "partner" agent for Redfin once my feet are on the ground at JAG.

I don't have a new phone number yet, but if you would like to contact me, please call me on my cell, email me or answer here.  And please wish me luck!
 
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