Last month the highest priced La Crescenta home sale was 5330 Quail Canyon Rd. This luxury home was listed for $1,375,000 and sold in a bidding war for $1,525,000. The seller’s purchased this home as new construction in 1986 for $306,500. Just a gentle reminder that the easiest way to amass wealth is through real estate. The sellers put in a pool, but kitchen and baths were mostly original.
MLS remarks read: Situated in the hills of La Crescenta, this Cape Cod-style residence offers 5 bedrooms and 3.5 baths in 4,102 sqft with neighbors only on one side. With an airy floorplan, the entry foyer opens to the spacious living room with fireplace and is adjacent to the formal dining room. Cook a gourmet meal in the well-equipped kitchen with eating area, kitchen island, refrigerator, built-in gas stove with range hood, dishwasher, black granite countertops, trey ceiling with recessed lighting, and cabinet space that opens to the large family room with brick fireplace and a wet bar with cabinet display. Relax in the master suite with oversized spa-like bath including two sink vanities, oval tub, walk-in shower, and oversized walk-in closet.
For the back story…. I am the Co-Chair for the fundraising committee for the Pasadena Ronald Mc Donald House. It was the day of our big event at the Pasadena Langham. I was getting my hair and make up done, when I received a call from someone I met at my La Crescenta listing on Markridge. She wanted to see the home on Quail and there were offers, that much she knew. I explained about my overdone make up and hair and met her at the home in yoga pants…. time was running tight.
The next morning I showed the home to her husband and youngest son. With his big brown eyes he looked at me and asked if this was going to be his home and I melted. We wrote our offer for $150,000 over the asking price and offered the owner a 60 day seller rent back for $1. I was feeling optimistic until the seller’s agent told me he had a much higher offer. We regrouped and because I feel confident in my knowledge of luxury real estate values we concluded that we made an excellent offer and had to be satisfied with that – even to lose.
The seller opened escrow with the highest bidder… but as often happens, when it came time for the overly aggressive offer to get their deposit to escrow it didn’t happen. It was our turn and my client’s home.
I had to chuckle about the over asking price bid of 150k. That’s more than I paid for my first home! How times change
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