Real Estate

As prices dip and California soars to the top of the list in the nation for real estate foreclosures, Realtors in this little hamlet are holding their collective breath for ?the other shoe to drop? ? but, as yet, prices and sales don?t appear to be affected by national, or local trends, said Carey Haynes, Realtor with Keilholtz Realtors, Inc., in La Cañada Flintridge. This is true in several small ?micro-markets,? upscale zip codes (such as 91011) where ?prices are up this year over last, and plenty of buyers still want to move in,?

After a year defined by tightening credit lines, falling home values and foreclosures, La Cañada Flintridge real estate agents said this week that they are seeing some indication that a recovery in the residential real estate market is underway. Janice McGlashan, an agent with Coldwell Banker, said there are currently 78 houses listed for sale in the city. That number is down from more than 100 houses that were listed late last year and early this year, she said. ?Interestingly enough, our month of August was very successful here in town,?

An informative, free seminar that will provide powerful wealth building techniques designed to assist real property owners will be presented on May 22 at the La Cañada Country Club. Among the information offered will be: 1031 Tax Deferred Exchanges. Valuable ideas will be offered on exchanging and deferring taxes on the gain of proceeds from real estate sales. Tenant In Common Ownership . Attendees may be surprised to discover new ways to hold title that could be helpful in reducing taxes.

With more than 400 in attendance, Dilbeck Realtors GMAC Real Estate recently rolled out its new branding statement at the Sportsmen's Lodge in Studio City. Dilbeck President Mark Dilbeck made the announcement. "Today we are rolling out our new primary marketing statement, that will be known as our branding statement, 'Generations of Trust for Generations to Come,'" Dilbeck said. With this statement, Dilbeck Realtors is leveraging the past, while focusing on the future.

by Jacqueline Chen Realtor Sam Buchanan, an 11-year resident of Sugar Loaf Drive, gets frustrated when he hears rumors that La Cañada's real estate market has slowed down. "There were five or six weeks during the summer when it was a little slow," he said during a telephone interview during Thanksgiving week. "I think it's because people are getting over (the terrorists' attacks of) 9/11 and are starting to travel again, but things have picked up. "There's so little inventory, and it's continued to decline over the last three years because there are so many more buyers," he said.

The Trader Joe's shopping center at 475 Foothill Blvd. recently sold for $16 million, according to the real estate firm that helped broker the deal. A group of private commercial real estate investors bought the property, said William Asher of Hanley Investment Group Real Estate Advisors. The property was never on the market, and the new owners assumed an existing loan. "It was a rare sale of a pride-of-ownership neighborhood shopping center in the Greater San Gabriel Valley area and overall in today's market," Asher said.

A La Cañada Flintridge woman who spent years perfecting every aspect of an aristocrat’s dream home has put it on the market for a staggering $10.7 million, an asking price that aims to set a new bar for local real estate values. It’s an impressive space: 8,000 square-feet of high ceilings, carved marble fireplaces, stately polished limestone floors, seven bedrooms and living spaces wide open to natural light that pours in from an expansive courtyard and pool area. But for all of the grand aspirations, reminiscent of an 18th-century French royal chateau, the 567 Meadow Grove St. estate owned by Heather and Austin Kim is really a monument to obsessive detail.

La Cañadans Kevin Ehrhart and Nelson Rising were honored when the Los Angeles County Bar Association held its annual real estate awards dinner on June 13 at the Riviera Country Club. Ehrhart, a partner of Allen Matkins Leck Gamble Mallory & Natsis, was one of the three recipients of the Outstanding Young Real Estate Lawyer Award. Ehrhart's practice focuses on the acquisition, disposition and financing of various types of real estate assets with an emphasis on commercial and industrial buildings, hotels, golf courses and undeveloped land throughout the country.

Dilbeck Realtors GMAC's La Cañada Flintridge office branch managers Lynn Beckenhauer and Carole Kunz were pleased to announce that Leona Dukes recently joined their staff of professionals. Dukes has over 12 years of Real Estate experience and comes to Dilbeck from another local firm. She specializes in residential, business and commercial properties in the Foothill areas including Glendale, Eagle Rock and Arrowhead. Dukes' strong negotiating skills, extensive knowledge of the market and ability to listen to her clients' goals and provide solid real estate guidance all along the process makes her the perfect choice for a Realtor.

Demand for residential real estate is picking up in Pasadena and nearby cities, but prices are lagging behind at what looks like the tail end of a years-long slide. Local agents say that combination is prompting sellers to stay on the sidelines, and is driving buyers into tough competition for available homes. In March, the average price of a single-family home in La Cañada Flintridge dropped to $1.31 million from $1.38 million a year ago, according to statistics compiled by Glendale-based Keller Williams Realty agent Keith Sorem.

Doug Drummond has been selling homes with the same real estate office in La Cañada Flintridge for 30 years. But in the currentslump Drummond is moving to a smaller firm, seeking flexibility as the market fluctuates and unusual deals - foreclosures and short sales - take center stage. ___________________________ FOR THE RECORD: This article incorrectly reported that Realtor Doug Drummond had worked at Podley Properties for 30 years. In fact, Drummond was affiliated with Podley for three years out of his 30-year career.

Los Angeles-based IDS Real Estate Group has purchased La Cañada Flintridge Town Center for a price in excess of $40 million, the company announced Thursday. A deal for the 7.6-acre retail complex at Foothill Boulevard and Angeles Crest Highway, the city’s largest commercial development, had been in the works for months. Anticipation of a sale has generated a positive buzz among local business leaders that IDS would invest in Town Center to expand its amenities. “We see an opportunity to add value to key elements of the center,” said IDS Senior Vice President Rob Fuelling in a written statement by the company.

A La Cañada Flintridge woman who spent years perfecting every aspect of an aristocrat’s dream home has put it on the market for a staggering $10.7 million, an asking price that aims to set a new bar for local real estate values. It’s an impressive space: 8,000 square-feet of high ceilings, carved marble fireplaces, stately polished limestone floors, seven bedrooms and living spaces wide open to natural light that pours in from an expansive courtyard and pool area. But for all of the grand aspirations, reminiscent of an 18th-century French royal chateau, the 567 Meadow Grove St. estate owned by Heather and Austin Kim is really a monument to obsessive detail.

The Trader Joe's shopping center at 475 Foothill Blvd. recently sold for $16 million, according to the real estate firm that helped broker the deal. A group of private commercial real estate investors bought the property, said William Asher of Hanley Investment Group Real Estate Advisors. The property was never on the market, and the new owners assumed an existing loan. "It was a rare sale of a pride-of-ownership neighborhood shopping center in the Greater San Gabriel Valley area and overall in today's market," Asher said.

The La Cañada Flintridge commercial real state market is on a tentative road to recovery, local real estate watchdogs said this week. At this time last year there were 18 vacant commercial properties, said Sid Karsh, a longtime La Cañada Realtor and broker. That number has dropped to about 10, he said. “A year ago was probably the low point in the commercial real estate market in La Cañada,” Karsh said. “There is not that many [vacancies] now but there is still a lot. It used to be in the good old days we didn’t have any.” The recession has driven down prices throughout the San Gabriel Valley, Karsh said.

Regional foreclosure filings surged 63% in 2009, tripling the increases seen in California and the nation as mortgage trouble rippled into previously unaffected areas, according to a real estate report released Jan. 28. The 3,325 foreclosure filings in Glendale, Burbank, La Crescenta, Montrose and La Cañada Flintridge were up from a total of 2,044 in 2008, according to data prepared for the La Cañada Valley Sun/Glendale News-Press by real estate...

Average home prices in La Cañada Flintridge dipped in November for the third consecutive month, according to a real estate report released this week. The average home price last month fell to $1.14 million last month from $1.32 million in October and was down 7.2% from the same period a year ago, according to Keller Williams Real Estate Services, a firm that tracks the real estate market in the Crescenta-Cañada and San Fernando Valley areas. “[Home prices] have gone up and down a lot during the year, but if you compare it to last November, the average price per square foot dropped about 10%,” Keller Williams agent Keith Sorem said.

After a year defined by tightening credit lines, falling home values and foreclosures, La Cañada Flintridge real estate agents said this week that they are seeing some indication that a recovery in the residential real estate market is underway. Janice McGlashan, an agent with Coldwell Banker, said there are currently 78 houses listed for sale in the city. That number is down from more than 100 houses that were listed late last year and early this year, she said. ?Interestingly enough, our month of August was very successful here in town,?