Pasadena, CA Real Estate News

By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
Summer is about being outdoors, enjoying activities with friends and family and of course, heading over to your favorite park for a concert.  If that concert is free, well... that's even better. PASADENA, CA Location:  Levitt Pavillion, 87 North Raymond Avenue #250, Pasadena Call                     626-683-3230              August 1 8 pm Celtic Spirit (World Rhythms) August 2 8 pm Rolando Morales (Musica Latina) August 3 7 pm Billy Mitchell (Jazz Night) August 6 Circus Night (Children's Entertainment) August 7 7:30 pm Lisa Haley (American Music) August 8 Smader  Levi (World Rhythm) August 9 8 pm Nocy (Musica Latina) August 13  7 pm Steve Songs (Children's Entertainment) August 14  7:30 pm Stone Honey (American Music)  August 15  8 pm Tidawt (World Rhythms)  August 16  8 pm Los Pinguos ...
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By Tracy King, Tracy King
(Teles Properties)
Constant readers know I am the King of Eagle Rock, but my real estate license is good in the state of California, and I have sold a lot of real estate all over Northeast Los Angeles and the western end of the San Gabriel Valley including Altadena and Pasadena in my 18 years as a Realtor. Last week, I co-listed a terrific property at 3150 San Pasqual Street, Pasadena, for $1,875,000. We priced this to sell, not to market. We had 121 Realtors attend the Broker's Caravan last Thursday and 112 people attended the public open house last Sunday. We were given a good offer after the Realtor caravan and after a bit of negotiation came to a mutually acceptable agreement by the end of the open house. Wow, this sounds like the activity of the good old days, doesn't it? Here's the deal: we had sell...
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By Keller Williams
(Keller Williams Realty)
One of the most important trends in the current real estate market is creative financing.  Creative financing involves borrowing money from sources other than institutional lenders and banks.  Buyers have used it in past market downturns when bank financing became less desirable.  The most common form of creative financing is seller financing, in which the seller lends some or all of the money to the buyer.  And then because most home sellers don't want to be lenders, they sell the loan to an investor who does want to lend money and actually receive payments. Here's how it might work... Joe is selling a home for $500,000, but isn't finding many buyers.  Mike is interested in Joe's home, but doesn't have the 20% down he needs for a down payment, which he's required to have because his jo...
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
If you are living in Pasadena California or are thinking about relocating to Pasadena, you've come to the right place.  This post will be updated monthly, around the first week of the month, for the previous month and will give you key real estate market indicators for Pasadena California.  Bookmark this page and visit it each month to see how Pasadena homes, condos and townhomes are faring in today's real estate market. If you are already a Pasadena homeowner and would like to get a monthly email sent to you with real estate activity around your Pasadena home, please click here and order your real estate monthly market report.  You will not be contacted by me or anyone on my team and the information will be generated automatically via email based on the criteria that you list. If you a...
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By Doug Willis
(RE/MAX Property Concierge)
The Pasadena housing market continues to hobble on one leg. While this strategy seems to work well for Tiger Woods, and the manner in which he won the US Open It does not bode well if you are a property owner attempting to sell a house. June home sales continue to confirm what we have seen year to date with (1) fewer home's being sold (2) a continuing decline in the median sales price. June's median price was $700,000, compared to $790,000 last year, a decline of 11.3%. Compared to Pasadena's median home price last month of $760,000, prices declined 7.9%. June is normally a strong month for housing as evidenced by last years median price of $790,000 for May and June. The fact that we experienced further declines this past month  is a good indicator the housiing market continues to softe...
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By Keller Williams
(Keller Williams Realty)
Perhaps you saw the recent headlines about property values being on the rise in Pasadena in the Pasadena Star News, and wondered what it meant for your prospects of buying or selling your home.  If you're like me, newsstand headlines are an important source of Pasadena news.  But what is the real story on the headline, "Property values on rise; Pasadena, San Gabriel show big increases"? What the story reports is that the total value of the property in these cities has increased from the perspective of tax assessments.  There are two reasons for this:  first is the new building projects around Pasadena in the last year such as Archstone Pasadena at the Del Mar Metro station.  When developers turn land into high-rise luxury apartments Los Angeles County significantly increases the assesse...
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By Keller Williams
(Keller Williams Realty)
Foreclosures and Fixer-Uppers Looking for a good deal and don't mind doing a little work for it?  You may be interested in buying a "fixer-upper" to save money.  There are more fixers for sale than in other periods because of the prevalence of foreclosures in the Pasadena area.  When foreclosures happen, it means the homeowners are in serious financial trouble, which usually leads to not making repairs or doing necessary maintenance to save money.  On top of the financial difficulties, the homeowners expect that the house will be taken away from them, and they are not happy about that.  Homeowners in foreclosure may even damage the house out of resentment toward the lender who is foreclosing on them.  And once the foreclosure process is complete and the homeowner is evicted, the house c...
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By Ellie Viray, Realtor, GRI
(Deasy Penner Podley)
Do you love to dance?  Then go to Paseo Colorado on Friday nights and join Dancing Under the Stars - Swinging Summer. Every Friday until end of August, you can enjoy music and learn to dance.  Free dance lessons provided by the Pasadena Ballroom Association. Paseo Colorado is at 280 East Colorado Blvd. Pasadena.   Shop, Eat, Listen to Music and Dance.  Pasadena is Happening in the Summer!
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By Ellie Viray, Realtor, GRI
(Deasy Penner Podley)
The Pasadena Foothill Association of Realtors will be hosting its Third Annual Jazz Night at the Paseo Colorado.  July 23, 2008 WEDNESDAY Location:  Pasadena Jazz Institute (260 East Colorado Blvd. Suite 206, Pasadena) Time:  Doors will open at 6:00PM and music will begin at 7:00PM - 10:00PM. Join the music and fun on July 23, Wednesday for live jazz, food, and raffles.  All of the proceeds would go to support local charities and scholarships.  Food provided by Paseo Cantina with a no-host bar. Tickets are $20.00 and can be purchased through the Pasadena Foothill Association of Realtors at (626) 795-2455.  (1070 E. Green St.  Suite 100, Pasadena)  
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By Steven Galindo
(Keller Williams Realty, Pasadena)
Home Buyers...FHA Is Here So Get Off Your Duff And Buy A House!!!  Yes I know that sounds drastic, but I submit the following for your consideration. If you have been thinking about buying a house but you are "on the fence", let me recommend that you jump off the fence.  FHA (Federal Housing Administration) has raised the limits of their Federally Insured Loans to $729,750 in high cost metropolitan areas such as Pasadena, Eagle Rock, South Pasadena, Altadena, Highland Park and their surrounding communities.  Previously, FHA's loan limits were at $362,790.  The change in loan limits will help provide economic stability and give 240,000 additional homebuyers a safer, more affordable mortgage alternative.    Why should you consider an FHA loan?   An FHA insured loan makes lenders more will...
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By Steven Galindo
(Keller Williams Realty, Pasadena)
When it comes time to interview agents, you may want to be weary of the agent that is telling you that they can get you a higher price than the other agents are quoting you.  Many times an agent will mislead a home seller by telling them that they can get a higher price for them, only to ask for a price reduction in the future because the property is NOT SELLING.  If that agent is so convinced that they can get you a higher price, then ask them to put a clause in the listing contract that will allow to cancel the moment they ask you for a price reduction.  That is a reasonable request, right? You bet it is!! Review the comparable sales carefully.  Pricing your property at market value is key to getting offers, and thus getting it sold.  Hire an agent based on experience, marketing plan,...
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By Steven Galindo
(Keller Williams Realty, Pasadena)
Do I Want To Sell? OR Do I Need To Sell? These 2 questions will probably determine whether your home will sell or not.  All too often people that want to sell price their property above market value, this is a grand mistake because you will be competing with sellers who "need to sell" and have priced their property at (or below) market value.  I am not recommending that sellers give their property away by pricing it too low, but I do recommend that they price their property at market value.  Buyers determine home values by comparison shopping.  They look at the price of your home based on its features and benefits, then compare it with the features and benfits of similar homes that have recently sold or currently on the market.  I am actually seeing properties in Pasadena receive multip...
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By Steven Galindo
(Keller Williams Realty, Pasadena)
Why should a home buyer hire a "buyer's agent"?   1.  A buyer's agent can help you find most properties for sale in your price range and city of choice.  An experience agent can tailor a search just for you.  2.  A buyer's agent can handle all the details involved in buying a home. 3.  A buyer's agent will answer any and all of your real estate questions. 4.  An experienced agent has the skills to negotiate in "your best interest" at all times to get you the best deal possible 5.  A buyer's agent will be in frequent communications with you, keeping you informed throughout the home buying process 6.  A buyer's agents fee is FREE! You pay ZERO! NADA!  You will not have to pay a buyer's agent to find you a home, negotiate on your behalf, manage all the details, keep you informed and answer...
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By Steven Galindo
(Keller Williams Realty, Pasadena)
What to demand (from your real estate agent) when selling your home... What's the biggest fear when a home owner lists their property with a real estate agent?  It's simple.  They worry about being stuck with an incompetent agent that makes them sign a lengthy listing contract.  That's why you should demand your agent to to place a clause in the listing contract that will allow you to cancel the listing at anytime, for any reason, providing that you supply a written notice (to the agent) requesting the cancellation. Any experienced, confident and competent agent should have no problem with you cancelling the listing if you are unhappy with the way they are marketing the property.   Please feel feel to contact me if you have any real estate questions or concerns. Steven Galindo Keller Wi...
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By Steven Galindo
(Keller Williams Realty, Pasadena)
Is it a good time to buy a home? ABSOLUTELY!!! Owning a home is like having a saving plan you didn't know you had.  Home ownership is key to building long term wealth. According to the Ferderal Reserve Survey Of Consumer Finances the average homeowners net worth is $171,000.  That's 46 TIMES that of a the average renters net worth of $4,800.  Most areas are experiencing a buyer's market.  More and more home-sellers are very flexible with their asking price and some are willing to pay for the buyers loan fees which could add up to many thousands of dollars.  That's right; many sellers are willing to actually help you buy their home.  These favorable (home buyer) terms were unheard of a couple of years ago when it was a sellers market.  Another favorable indicator for buyers is that mortg...
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By Steven Galindo
(Keller Williams Realty, Pasadena)
Real Estate Market Update For The City Of Pasadena, Ca, 91107 Month Of June 2008   In my endless pursuit to keep my friends, family and past clients updated in the Real Estate Market, I am submitting to you the following statistics for the city of Pasadena.    The following is the criteria I used;   Property Type: Residential   Property Subtypes: Condominium, Planned Unit Development (PUD), Single Family Residence, Townhouse   Properties that have opened escrow for the month: 11 Average days on the market for properties that have opened escrow: 53 Minimum price of properties that have opened escrow: $314,000 Average price of properties that have opened escrow: $878,000 Highest price paid for a property that has recently opened escrow: $1,980,000 Properties that have sold for the month: ...
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By Steven Galindo
(Keller Williams Realty, Pasadena)
Real Estate Market Update For The City Of Pasadena, Ca, 91106 Month Of June 2008   In my endless pursuit to keep my friends, family and past clients updated in the Real Estate Market, I am submitting to you the following statistics for the city of Pasadena.    The following is the criteria I used;   Property Type: Residential   Property Subtypes: Condominium, Planned Unit Development (PUD), Single Family Residence, Townhouse   Properties that have opened escrow for the month: 9 Average days on the market for properties that have opened escrow: 66 Minimum price of properties that have opened escrow: $285,000 Average price of properties that have opened escrow: $440,000 Highest price paid for a property that has recently opened escrow: $790,000 Properties that have sold for the month:  20...
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By Steven Galindo
(Keller Williams Realty, Pasadena)
Real Estate Market Update For The City Of Pasadena, Ca, 91101 Month Of June 2008   In my endless pursuit to keep my friends, family and past clients updated in the Real Estate Market, I am submitting to you the following statistics for the city of Pasadena.    The following is the criteria I used;   Property Type: Residential   Property Subtypes: Condominium, Planned Unit Development (PUD), Single Family Residence, Townhouse   Properties that have opened escrow for the month: 10 Average days on the market for properties that have opened escrow: 54 Minimum price of properties that have opened escrow: $330,000 Average price of properties that have opened escrow: $547,000 Highest price paid for a property that has recently opened escrow: $1,155,000 Properties that have sold for the month: ...
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By Steven Galindo
(Keller Williams Realty, Pasadena)
Real Estate Market Update For The City Of Pasadena, Ca, 91104 Month Of June 2008   In my endless pursuit to keep my friends, family and past clients updated in the Real Estate Market, I am submitting to you the following statistics for the city of Pasadena.    The following is the criteria I used;   Property Type: Residential   Property Subtypes: Condominium, Planned Unit Development (PUD), Single Family Residence, Townhouse   Properties that have opened escrow for the month: 9 Average days on the market for properties that have opened escrow: 40 Minimum price of properties that have opened escrow: $255,000 Average price of properties that have opened escrow: $479,000 Highest price paid for a property that has recently opened escrow: $950,000 Properties that have sold for the month:  15...
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By Steven Galindo
(Keller Williams Realty, Pasadena)
Real Estate Market Update For The City Of Pasadena, Ca, 91105 Month Of June 2008   In my endless pursuit to keep my friends, family and past clients updated in the Real Estate Market, I am submitting to you the following statistics for the city of Pasadena.    The following is the criteria I used;   Property Type: Residential   Property Subtypes: Condominium, Planned Unit Development (PUD), Single Family Residence, Townhouse   Properties that have opened escrow for the month: 10 Average days on the market for properties that have opened escrow: 65 Minimum price of properties that have opened escrow: $678,000 Average price of properties that have opened escrow: $1,392,198 Highest price paid for a property that has recently opened escrow: $2,600,000 Properties that have sold for the month...
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