Pasadena, CA Real Estate News

By Doug Willis
(RE/MAX Property Concierge)
According to the Real Estate Publication Real Trends the amount of money you pay to sell your home is on the rise. Due to the slowing market, real estate agents claim they have to market homes more aggressively in order to get them sold. A quick read between the lines interprets this to mean they have to spend more of their own money. What should you expect to pay when you list your home for sale?A quick recap of the 115 homes sold in Pasadena for the month of May indicates that Buyers Agents (an agent who represented the Buyer in the transaction) were paid the following amounts:In order to interpret the chart, we need to make some assumptions. Typically a listing agent (representing the seller) will offer as compensation, 50% of the fee to the Buyer's Agent. A commission of 2.5% probab...
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By Doug Willis
(RE/MAX Property Concierge)
Time to get out the crystal ball or the Ouija Board and make some sense of what is happening in the Pasadena Housing Market. Sales results for May indicate that fewer homes are being sold this year versus last, and down considerably when compared to May 2004. It is also taking longer to sell a home today than it did just 12 months ago.One thing I learned early in my career is that you can spin data in any number of ways to get a desired effect. When you look at fewer homes being sold and the ones that are being sold are taking longer to sell, I have a hard time supporting the theory that prices are still going up. The other justification is that in May ‘07 houses sold for 98.6% of their asking price as compared to May ‘06, when they sold slightly over asking price at 100.45%.To understa...
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By Doug Willis
(RE/MAX Property Concierge)
Looking to pick up a bargain? This could be your weekend. There will be an auction this Saturday, May 19 in Los Angeles by a company known as Real Estate Disposition Corporation. They just held an auction in San Diego this past Saturday and will also have one on Sunday, May 20th in Riverside. Click the link for all of the details and property information. A quick glance at the list identified three properties in Pasadena.
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By Doug Willis
(RE/MAX Property Concierge)
Last week, I reported on the April sales numbers along with the inactivity we were seeing in certain area's and price ranges. These numbers appear to confirm my suspicions. The activity in the lower price points, namely $500,000 to $599,000 was very weak. There are more houses available for sale than there are buyers willing to purchase."It was the best of times, it was the worst of times"The worst of times is an over dramatization, but it is illustrative of what is happening on the other side of the coin. If you have a house valued in excess of $1,000,000, then the market is fairly active. No sub-prime lending woes here.What does this all mean? Well, I suppose you could theorize that the move up market could eventually be impacted if houses aren't selling at the lower levels. It seems ...
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By Doug Willis
(RE/MAX Property Concierge)
Sales results for the month of April indicate that residential units were down about 23% vs. April 2006. There were 99 units sold for April 2007 compared to 128 units sold for the same period last year.However, a closer look at sales by area indicates that Pasadena Real Estate is still doing quite well. Pasadena is broken down into four geographical area's as follows:Of the four areas, the "Southeast" seems to be doing the best with sales up 10% over last year. Two other regions, the "Northeast and Southwest" are showing smaller declines. The area bearing the brunt of a slow down is the "Northwest" with year to date sales -35%.This area is predominantly lower priced homes, many in the range of $500,000 to $600,000. Homes are staying on the market longer and home sellers have been reluct...
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
Restaurant Row is located in Old Pasadena on Raymond Avenue (between Union & Holly)  just off of Colorado Boulevard.  It's steps from the new Metro Gold Line station, Pasadena's Senior Center, Norton Simon Museum and Memorial Park. Restaurant Row offers an eclectic mix of dining venues ranging from neighborhood cafes to some of the highest Zagat-rated gourmet restaurants in Southern California. Nearby movie theaters, bookstores and trendy designer shops make sthis an easy walking destination with plenty to occupy an after noon or evening visit. There's plenty of parking - both valet and public - making it a convenient stop. Restaurants: 54 Holly Street Cafe known for it's hearty portions of homestyle cooking such as pancakes, omelets and burgers.  Open daily.  Cash only.  54 E. Holly St...
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By Doug Willis
(RE/MAX Property Concierge)
It's a New Year. Your at home with a blanket watching the Rose Bowl Parade on TV, and then it hits you. Why am I here? The winters are too cold and grey. Look at those people in California, enjoying the sunshine and the outdoors 52 weeks of the year. So before you pack your bags, here are some things you should know.Housing is Expensive - the median priced home is LA County is in excess of $500,000. In Pasadena, its even more expensive. In March, the approximate median price of a home in Pasadena was $670,000, then add property taxes in the neighborhood of 1.25% annually or $8375Beautiful Landscape-from the beach to the mountains its all here. A wonderful array of the earth's beauty is found within a 2 hour drive. On a clear day the sights are unbelievable. Remember I said "on a clear ...
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
Lycee International de Los Angeles's Pasadena campus is now accepting enrollment for the school year 2007/2008.  If you have a child aged 2 (have to be potty trained) to 5th grade, now is the time to contact the school to get more information.This wonderful school will be having a Fair on Saturday, May12th from 11 am to 5 pm on their campus at:30 North Madison Avenue just across Pasadena City College (PCC) on ColoradoThey will have an auction with great items like a week in South of France, electric scooter, art pieces, classes, wine and more!Additional Open House dates are scheduled for April 25th and May 9th from 8:30 am to 5:30 pm.Please call the school at 626.793.0943 for additional information.There are additional locations of this school in Los Feliz, Orange and West Valley.For in...
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By Jodie Miller, Realtor, KW, Pasadena
(Keller Williams Realty)
“My father would drive around town and point at various houses. He’d say ‘You know, I could have bought that house for $2800 in 1940.’ Why didn’t you? I would ask. His answer: ‘Because it cost too much.’”  -Actor Tim Matheson, Money Magazine. I think about that quote a lot when I'm driving around town, largely, I think, because everybody knows that guy.  I know that guy.  That guy, in my life, is my father-in-law Keith Miller.  He can drive all over Pasadena and point out houses that went for like twenty dollars a mere thirty years ago.  He knows the exact sales price of just about every house in town, at various points in history, whether they were fixers or turnkey, Craftsman or postmodern.  The one thing all those houses had in common was that he couldn't afford them at the time. Kei...
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
Yes... it's heaven in Pasadena!This April, get ready for the 18th Annual Architectural Tour of Bungalow Heaven in Pasadena, California.  This beautiful neighborhood consists of over 800 craftsman and bungalow style homes and is rich in history.  It's hard to believe that some of these absolutely gorgeous homes were selling for as little as $2,500 during the bungalow boom.  The architecture, attention to detail, the use of wood and built-ins throughout make these homes so very special.  If you are new to our community or have lived here your whole life, I know that you will enjoy a self guided home tour or a guided neighborhood tour this April.  The information is listed below or can be found on my website.ENJOY! Self-Guided Home Tour:Advance Home Tour Ticket Day of Home Tour Ticket $15....
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
Need information on Pasadena, CA area? Please visit my website for additional and surrounding cities and to search Pasadena homes and condos for sale as their added to the Multiple Listing Service. Please click on the topic that interests you.  Please call me should you need additional information at 626.629-8439 or help with your home search process.  Enjoy!   City of Pasadena WebsiteCity of Pasadena DepartmentsCity of Pasadena Government OfficesCity Services Pasadena HeritagePasadena History Bungallow Heaven Pasadena Rose BowlPasadena Playhouse Pasadena Public LibraryPasadena Kid's KlubPasadena Tournament of RosesLocal RestaurantsLocal Public Schools Pasadena City College California School of Culinary Arts California Institute of Technology You and thousands of other residents, neigh...
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By BZPros Real Estate Team
(Keller Williams Realty)
The opportunity for great real estate deals has not been better in years! After years of record high prices & meager inventory, we are NOW in a market where prices have been tamed, interest rates are at a 7-months LOW &the inventory offers the extraordinary luxury of choice.According to the national association of realtors, 2006 is shaping up to be the 3rd best year in history and the alignment of LOWER prices, LOWER interest rates & fabulous inventory offer INCREDIBLE buyer & investor opportunities in the coming months.Savvy buyers have already gotten the message. This is the market condition they've dreamed about. join them & "SEIZE THE DAY" and the chance to make your lifestyle dreams come true. The brokers & agents of the BZPros Real Estate Team are ready to assist you with knowledg...
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By Eddy Martinez
(Nationwide Funding Group)
I hope this is helpful for all of you non spanish spaking or spanish speaking professionals out there. I am mexican so the diatlect might slightly differ from other latinos and the terminology they use.Mortgage = Hipoteca    -----    Hipoteca Ajustable = Adjustable Rate Mortgage --- Hipoteca Fija = Fixed Rate Mortgage Penalidad = Penalty  ------ Hipoteca Segunda = Second Mortgage ---- Agente de Bienes y Racies = Real Estate AgentLoan = Prestamo ----- Cobros = Fees ----- Opciones = Options ----- Pago Mensual = Monthly PaymentImpuestos = Taxes ----- Aseguransa = Insurance ----- Loan Officer = Agente de Prestamos / Presamista Financiamiento = Financing ---- Cash Out = Dinero en effectivo ----- Equity = Equidad If anybody has anymore terms they need translation on feel free to ask.............
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