Foreclosure Resales in Glendale/La Crescenta 91214

Four out of five July 2008 foreclosure resales in the La Crescenta area changed hands for less than the lender paid to buy them back. Two of the five were condominiums.

I gathered this data from a Property Shark Excel download covering all zip codes in Los Angeles County. I’ll post my findings on other Glendale and Pasadena zip codes next week; for today, I thought I’d focus on the hillside neighborhood I featured in my fire season post.

La Crescenta, the “balcony of Southern California,” is part unincorporated L.A. County and part city of Glendale. Most single-family residences here are modest older homes on sloping lots, and many small to large newer condominium and townhome developments line the main streets.

Redfin shows a $382 average sales price per square foot for the last three months in 91214. The neighborhood page shows that 37% of single-family home and 50% of condominium listings have had their prices reduced, with an average reduction of 6%.

Here are the 91214 foreclosure resales I found on Property Shark:

3305 Mills Avenue
$415,000 (7/24/08)
Purchased for $539,000 (7/1/05) and taken back by the lender for $449,650 (6/1/08)

3348 Community Avenue
$350,000
The previous sale price is $202,000 (1/22/1999); the lender bought this home for $352,981 (5/22/08)

3100 Santa Carlotta Street
$465,000 (7/25/08)
Purchased for $670,000 (10/13/05) and taken back by the lender for $514,266(5/16/08).

3075 Foothill Blvd, #115
$295,000 (7/21/08)
Purchased for $410,000 (6/30/05) and taken back by the lender for $303,645 (4/8/08).

3130 Montrose Avenue, #113
$330,000 (7/31/08)
Purchased for $440,000 (6/9/05) and taken back by the lender for $297,464 (1/16/08).