Pasadena, CA Real Estate News

West San Gabriel Valley      February  2009 Pasadena, Altadena, South Pasadena, and San Marino   Market Index A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market.    The Market Index continued to drop to 0.20 from 0.22, compared to 0.15 last year.   New Listings - 204 new listings, even with last month's 199.  Last year there were 256.    Pending Listings - 88 listings opened escrow, compared to 77 last month, versus 67 last year.    Pending Ratio - 0.43, up from 0.39 last month, up from last year's 0.26 pending ratio.   Listing Inventory - 797 listings on the market, up slightly from 770 last month.  Last year we had 859.   Sold Listings -75 properties sold, down from 93 last month.  Last year 65 homes sold.  ...
Comments 0
By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
It's been an interesting couple of weeks. I've been getting multiple phone calls from home buyers finding my real estate websites and contacting me for more information on homes that they are interested in. That's great! Except for, most of these home buyers are doing research for their part time real estate agents. The phone call goes something like this: Scenario #1 Home Buyer: Hi, I wanted to get more information on 1234 Main Street. I saw it on your website and wanted to see if you can show it to me. Me: That's great. I would love to help. May I ask you, are you currently working with a real estate agent? Home Buyer: mmm... yes... but, my real estate agent doesn't have time to show me the home. He or she is very busy. Can you please schedule an appointment for me. Scenario #2 Home B...
Comments 6
By Michelle Minch, Home Staging Los Angeles and Orange County, CA
(Moving Mountains Design Home Staging, Pasadena, CA)
LinksPasadena Home Staging InfoLos Angeles Home Staging InfoPhoto GalleryLos AngelesArcadiaSilverlakeSanta MonicaKoreatownArcadiaSan MarinoSilverlakeDescriptionIf you are thinking of selling your Los Angeles or Pasadena home, staging by Moving Mountains Design will help you get your home in top market condition. When you put your Los Angeles home on the market, you are entering it in a beauty contest. The best looking homes sell faster and for a better price. Home buyers today are looking for turn-key homes, homes they can move into without having to invest money in painting, carpeting and repairs. Moving Mountains Design home stagers will help you get your home or listing into tip-top shape and enhance it with furniture, rugs and accessories so that potential buyers will choose your ho...
Comments 10
West San Gabriel Valley      January  2009 Pasadena, Altadena, South Pasadena, and San Marino   Market Index A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market.    The Market Index crashed back down to 0.22, down from  0.33.   New Listings - 199 new listings, almost double the  105 from last month. Last year there were 262.    Pending Listings - 77 listings opened escrow, compared to 65 last month, versus 55 last year.    Pending Ratio - 0.39 down from 0.62 last month, up from last year's 0.21 pending ratio.   Listing Inventory - 770 listings on the market, down from 605 last month.  Last year we had 776.   Sold Listings -93 properties sold, down from 133 last month.  Last year 73 homes sold.   Average Sales P...
Comments 0
By Fran and Rowena, La Canada Realtors - (818) 952-0077
(Dilbeck Real Estate)
If you enjoy art, and you enjoy a FREE event, then mark your calendar! On Friday, March 13 from 6 to 10 pm you can enjoy art and music throughout Pasadena. There is free transportation between the venues. For additional information, visit the website: ArtNight Pasadena ************************** For additional information on Pasadena, or on Pasadena real estate, please contact Fran and Rowena of Dilbeck Realtors GMAC at (818) 952-0077.Fran and Rowena serve the greater Foothills communities of La Canada (also known as La Canada Flintridge), La Crescenta, Pasadena, Sunland, Tujunga, Glendale, South Pasadena, Altadena, Arcadia, Sierra Madre, San Marino, and the greater Los Angeles area.Dilbeck Realtors is independently owned and operated.
Comments 1
By Michelle Minch, Home Staging Los Angeles and Orange County, CA
(Moving Mountains Design Home Staging, Pasadena, CA)
Staging to sell by Moving Mountains Design took this modern Pasadena Architect designed home from last centruy to NOW!     Living room before home staging                           Living room after stagingLast November, a Pasadena Realtor I frequently work with, Judy Rubin, asked me to consult with a client to prepare their contemporary home for sale. This is one of the most unique and interesting Pasadena homes I had ever been asked to stage. Designed in the 1970's by the Architect residents, the house has a very open floor plan with many unique features. Trouble was, after almost 40 years of residency, and sheltering a family with three children and multiple grandchildren, the home was full of 'memories' that masked the true beauty of the contmeporary International style architecture...
Comments 46
By Michelle Minch, Home Staging Los Angeles and Orange County, CA
(Moving Mountains Design Home Staging, Pasadena, CA)
Staged Pasadena home sells in 5 days! I called the Listing Agent of a Pasadena cottage we staged 2 weeks ago, just to check in and lend support where needed. The listing agent told me that they got an offer after 5 days on the market and the house was now in escrow! The listing agent paid for the staging and we only staged the living room, dining room and kitchen to keep costs down. It is rare for the LA to pay for the staging, at least among the agents I work with, but this listing agent and her investor client have an ongoing relationship with multiple buys and sales between them. The house was a 3 bedroom, 2 bathroom house that is owned by an investor who fixes and flips 'em and was listed for $840,000.00. This was such a small, quickie job for us, I didn't even take before and after...
Comments 26
By Steven Galindo
(Keller Williams Realty, Pasadena)
When looking to buy a home, you don't need a Buyer's Agent, right? Wrong!!!! 7 Reasons why you should hire a Real Estate Professional BEFORE you start the home search process. As Realtors, we are your advocates. It is our job to inform you. To keep you up-to-date with the latest trends. To let you know what's going on in the real estate market. Since we see many properties on a weekly basis, we know the good deals from the bad. We know how to guide you through a transaction with the least amount of headaches. We know how to find you that special property, faster than you would on your own. And when you do find that home that interests you, we know how to protect and negotiate with your best interest. Here are the main roles of your Realtor and why you should hire one before you start t...
Comments 0
By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
Last week, I was privileged to attend a presentation by Leslie Appleton-Young.  Leslie is the Vice President of California Association of Realtors and their Chief Economist. I have never heard Leslie speak before and was surprised with her vibrant personality and down to earth style.  it's always hard to deliver bad news to a room full of Pasadena realtors, but she did with style and ease. It turns out that Leslie is a resident of Pasadena and has been living in our community for the last year and a half.  Pretty exciting for me since I'm hoping that I'll run into her one day at Pete's and will have an opportunity to pick her brain a bit.  I will be writing a post over the next few days to share my thoughts on real estate market expectations for 2009 in Pasadena, but in the meantime, he...
Comments 6
By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
Here's the latest and greatest report for Pasadena's real estate market inclusive of statistics going back to August 2008. Pasadena's real estate inventory of homes has decreased in October to 127 units overall - inclusive of single family residences, condos and townhomes.  It is not surprising as folks are getting ready for the holiday season and in the natural annual cycle of real estate, we expect to see less inventory to choose from.  The sales have closed strongly in October at 117 units.  Next month, we will see a marked decrease in this number as evidenced by the decline in the Pasadena home buyers going into escrow in October. This month, I was able to catpure the median Pasadena home sales price and will be adding that information to all future reports.  Median home sales price...
Comments 4
By Dawn Rickabaugh, Note Queen
(Dawn Rickabaugh (Note Queen) Owner Financing Consultant)
This is the time for note professionals to shine. Our expertise can make a meaningful contribution to the economy. I got an email from Kay, who found me as a result of an Investor’s Business Daily interview: Seller Financing Can Seal the Deal in Rough Market. She was thrilled, and so was I, that we only lived 5 miles apart. (It’s always fun when you get to work with people in your own back yard). She and her husband had an escrow that was falling apart, and they asked me to step in and put it back together. If this deal didn’t close, then they would most likely lose at least another $50,000 on this southbound investment. Here’s the scoop: A British buyer had originally made an all cash offer on a $764,000 home. He put down a non-refundable deposit of $24,000, and was willing to walk awa...
Comments 0
By Alan Siebenaler, Building Rental Income Portfolios
(Retire On Income)
Deferring Capital Gains Taxes When Selling Property Part one of a 5 part Series on Deferring Capital GainsCapital Gains Deferral Deferral of capital gains has received much attention over the last few years as property valueshave grown rapidly. Many tax experts will often advise their clients to just pay the taxes becausethe capital gains rates are the lowest they’ve been in years and are likely to go up in 2011.Advice such as this can be misplaced and may not be in the best interest of the property owner.Take a hypothetical case in which someone purchased a property 20 years ago for $250,000.Assume that the property has appreciated to $2,000,000. This appreciation represents a capitalgain of $1,750,000. If the property is located in California, then that property is subject to federalc...
Comments 1
By Dawn Rickabaugh, Note Queen
(Dawn Rickabaugh (Note Queen) Owner Financing Consultant)
Aloha Dawn, Hope everything is going well for you. I was out yesterday educating Realtors at open houses on non traditional financing, ie Land Trusts. They all seem to recognize that things are different and were open to pursuing the EHLT approach. A couple questions came up and I thought I’d ask you your thoughts on them. Q: Assuming a $1.2M MAV with an underlying $250,000 mortgage. RB comes in with lets say $100,000 and seller agrees to carry $1.1M at 6.5%. Would it be possible to take the difference between the remaining equity of $850,000 ($1.2M - $100,000 =$1.1M - $250,000 underlying) and divide it into two notes of $425,000 each at 6.5% and then sell one of the notes at some small discount (I don’t know how much it would have to be discounted) so the seller gets more cash up front...
Comments 4
By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
Over the last couple of days, I've been taking long walks around Pasadena and San Marino and looking at all the amazing decorations that are gracing our beautiful homes. It's no small feat to put some of these up. I, for one, am not much for decorating - maybe it's the lack of time or just not enough creativity - I don't know. My decoration was three huge pumpkins (2 of which unfortunately walked away off of my porch a few days ago) and a door hanger. This morning, as I'm watching my kids put together their costumes, get the cookies and cups ready for school parties and talk about this evening's activities, I'm reflecting on how commercialized Halloween is getting. This is not going to be a rant, but out of curiousity, I wanted to look at some Halloween facts as presented by National R...
Comments 10
By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
'...The Third Annual Race For The Rescues was A HUGE SUCCESS and I hope you were all able to enjoy the pay off of all your hard work and dedication.  We are still tallying but it looks like we raised over $50,000 that we will share with the other rescues groups who attended. CHOO CHOO! ...'  Quote from Lisa the Founder of the Rescue Train. Lisa you are wonderfull. Thank you for your spirit and all those who ran, donated, adopted and volunteered. Thank you for all the Celebs that endorsed this Great Event. A special Thank you to THE Volunteers. Make Adoption not just your First Choice, but your only choice!
Comments 11
By Dawn Rickabaugh, Note Queen
(Dawn Rickabaugh (Note Queen) Owner Financing Consultant)
Answer: "Well, because I can." Question: "Why do you write totally random quirky posts sometimes? Don't you want us to think that you're a respectable professional?" It is intuitively understood by most people that anyone who goes by 'Note Queen' is likely to be eccentric at times. I don't actually think anyone is surprised at this point. Besides, as one of my teenagers likes to say, "Mom . . . nobody cares." So, I got a call over the weekend from husband & wife sellers who had an escrow that was falling apart. They asked if I would please step in to put it back together. It's hard to think of being asked to do anything that sounds like more fun. The sellers arranged a meeting with their listing agent, the selling agent, the buyers (and a token boyfriend, I think) and myself, and we all...
Comments 2
By lee cuellar
(keller williams/mistermidcentury)
Hi all, I've been a bit busy with listings and whatnot and have neglected my Midmod blogging.  For that I apologize.  This week, I am going to talk about two wonderful homes. One completely original home in the Glendale foothills, the other on top of the Linda Vista area of Pasadena.  The Cedarhill residence is a classic wall of glass affair with wonderul curves.  The dining area faces the street through floor to ceiling glass panes.  Most of the living spaces include original furniture built for this home.  In the baths, you will see more great curves, incorporated into the counter tops, and round bath tub installed in the floor.  The walls facing the pool area are floor to ceiling glass and round out an amazing example of midcentury modern architecture.   Next up we have an amazing re...
Comments 1
The , composed of Pasadena, Altadena, South Pasadena, and San Marino   Market Index A market index of above 1.20 is a seller’s market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer’s market. September marks the eighth month in a row that the Market Index has increased to 0.32.  A year ago it was 0.26.   New Listings In September 244 new listings, compared to 156 in August, last year there were 230.   Pending Ratio New homes entering escrow are indicators of future sales.  This month we had 0.46, compared  with last year’s 0.18.   Listing Inventory      This month 761, in August 837, and last year 730.   Sold Listings In September132 homes sold, compared to August 155, and in 2007 sales of 87.   Average Sales Price The average this year was $830,283, down 33.5% fro...
Comments 0
By Dawn Rickabaugh, Note Queen
(Dawn Rickabaugh (Note Queen) Owner Financing Consultant)
It's my privilege to speak to the agents at Keller Williams in Pasadena this Friday. The management is very supportive of every possible strategy to help their agents earn more commissions. KW is one of the most supportive and progressive real estate companies I've seen so far. Let's face it . . . the Real Estate "Warrior" of today needs more tools to get transactions closed. Having an open mind, some flexibility, and learning a little about seller financing and real estate notes can get your escrows closed, and give your seller what they need most. Do you have a seller stuck on price? What if you could show them how to get their price by offering terms? Is your listing getting ready to expire? What if you knew how to approach your seller about carrying paper? Do you know people who won...
Comments 2