Values in Van Nuys

In Van Nuys, the meat-and-potatoes, tortillas-and-frijoles heart of the Valley, listings don’t tend to linger while going through multiple price reductions before they approach the sweet spot of affordability.   More often than in many Valley locales, they hit the market running, priced, if not to sell, then at least to draw real interest from the outset. 

At this moment, Redfin’s search engine delivers at least 24 new listings of detached single family homes listed in the last seven days in Van Nuys, priced from $275,000 to $660,000.  The median price is under $425,000. 

Here are a few new listings that stand out in Van Nuys:

14139 Cohasset St.
$420,000
Beds: 4 / Baths: 2
SQ.FT.: 2,054

A short sale; it sold in March 2006 for $582,000, a 28% reduction.

15408 Stagg St.
$359,900
Beds: 3 / Baths: 3
SQ.FT.: 1,741

Vacated bank-owned foreclosure; $207 per sq. ft.!  Sold for $526,500 in November 2007, a 32% discount.

7960 Saloma Ave.
$362,900
Beds: 3 / Baths: 2
SQ.FT.: 1,030

Although this home sold for $438,000 a year ago February, it isn’t listed as a short sale or REO.

15444 Archwood St.
$475,000
Beds: 4 /Baths: 2
SQ.FT.: 1,508

Two-level contemporary, spa in back yard.  Represented as short sale.