Pasadena, CA Real Estate News

By Doug Willis
(RE/MAX Property Concierge)
The content of this article holds the key to what so many have searched before. The text is not based upon speculation, not based on here-say, but rather predicated on market fact. Everyone has an opinion on the housing market. But when does fact supersede opinion/ And although the secret is a widely know belief, has it been proved beyond a reasonable doubt? . The key to selling your house in this current market will soon be revealed. The basis for a successful property transfer was discovered in less than an hour. Not merely by accident like rubber and the telephone, but by proving a theory. There must be a correlation somewhere between why some experience success while others repeat failure. Selling houses is not rocket science. There is no magic bullet, no formula that has been passe...
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
Usually, when a buyer purchases a Pasadena home, one of the first things that their Pasadena real estate agent will recommend that they do will be a home inspection. A common home inspection usually takes anywhere from 3 to 5 hours depending on the size of the home and after the inspection, a buyer will receive a pretty complete report identifying both small and large items. The home inspection also takes place in the first week or ten days of the escrow AFTER an offer on your home has been accepted.  The buyer will review the list of items on the inspection report and will submit a list to you the seller of items/conditions that they will want you to repair, replace or give the buyer credit for.  This is a perfect opportunity to re-negotiate the price of the home for many a savvy buyer...
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By Doug Willis
(RE/MAX Property Concierge)
If you are buying Pasadena real estate, there is a good chance the property will be inspected by a city employee. A 6 page form will be completetd entitled “Housing Inspection Report”. Responsibility of the report and its findings can be negotiated through the purchase agreement. In other words who assumes the responsibility, the buyer or seller? The report includes the following: Building & Structural Weather Protection Fire Detection/Protection, Exits & Safety Natural Light & Ventilation Heating and Mechanical Plumbing Pool Safety, Environmental Health & Sanitation Use & Parking The back page of the report speaks to Landmark and Historic Districts and also the City’s Tree Protection Ordinance. The Intent of the Report Most of the issues identified as “minor” violation can be easily ad...
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
On May 28th the Huntington Art Gallery will re-open after a $20 million renovation. Enjoy the Art Gallery along with the Huntington Library and Botanic Garden…a real Los Angeles treasure To receive more information about events in Los Angeles, click here to subscribe http://losangelesrealestatetalk.com/whats-rss/   To read the original article, click here:  A $20 Million Renovation!
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By Ellie Viray, Realtor, GRI
(Deasy Penner Podley)
Jacarada is everywhere in City of Pasadena. Driving down streets of Pasadena, like Del Mar Blvd., and navigating through the residential neighborhood, you cannot take your eyes off the beautiful Jacaranda. I want to share the great photgraphs of this tree with beautiful blue/purple flowers; a sub-tropical tree native to South America.
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By Ellie Viray, Realtor, GRI
(Deasy Penner Podley)
I am seeing several homes under/at $350,000 in Pasadena and Altadena. Pasadena - There are 11 condo/townhomes Lowest price - $225,000  736 N. Garfield #104 (2bd, 2ba) Highest price - $349,000  592 N. Mar Vista #2  (2bd, 2ba) Pasadena - There are 27 single family homes Lowest price - $275,000  168 Grandview St.  (2bd, 2ba) Highest price - $350,000  329 Stanton Ave.   (3bd, 1ba) Altadena - There are 2 condo/townhomes $ 284,900  2104 Raymond #10 (2bd, 2ba) $295,000   840 E. Mendocino #A6   (2bd,2ba) Altadena - There are 11 single family homes Lowest price - $284,900  617 Devirian Place  (2bd, 1ba) *worth checking out, large lot Highest price - $349,900 2350 Olive Ave.  (3bd, 2ba) Banked owned or short sales are some of the lower priced homes coming up in the market. *information provided f...
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By Dawn Rickabaugh, Note Queen
(Dawn Rickabaugh (Note Queen) Owner Financing Consultant)
National housing is down 14% . . . how does Pasadena fare? Here's the data for zip code 91107: Wow! There were 63% fewer closed real estate transactions in March of 2008, than March of 2007! Holy cow! That's quite a lot, isn't it? But the interesting thing to note is that prices were UP, not DOWN!!! Average home sales were up 9%, and the median home price was up 5%. OK, so you had to wait a little longer (63 average DOM), but prices are still going UP instead of DOWN. Just fewer people are risking it, I guess. Priced well, homes are getting multiple offers and selling within a couple of months. Not bad. The government is currently offering some great incentives, so if you're thinking of buying, don't wait!
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By Dawn Rickabaugh, Note Queen
(Dawn Rickabaugh (Note Queen) Owner Financing Consultant)
I hope you all had a nice holiday weekend . . . how national home prices fared we won’t know for a bit, but we did get some numbers for March. Prices have fallen over 14% from last year, reports the S&P/Case-Shiller Home Price Index“ There are very few silver linings that one can see in the data,” says David Blitzer, chairman of S&P’s index committee. “Most of the nation appears to remain on a downward path.” In the index’s 10 major metropolitan areas, prices fell 2.4% from February to March and 15% year over year. As per usual, Las Vegas was the ugly duckling - prices down 26% in the last year. Additionally, new home sales plunged 42% in April, year over year, but were actually up 3% from March: the first new home sales up-tick in six months. So what happened over the same time period ...
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
To continue with my series of FHA posts, today, we're going to look at advantages and disadvantages of getting an FHA loan.     ADVANTAGES:    LOW CASH OUTLAY - Pasadena buyers can get an FHA loan for as much as 97% of Pasadena home purchase price.  Only 3% down, not a bad deal. FHA LOANS ARE FULLY ASSUMABLE.  Yes, you read it correctly.  These loans are assumable as long as the new buyer qualifies and is not an investor. FHA LOANS DO NOT HAVE A PREPAYMENT PENALTY.  FHA loans do not have penalties for paying off all or part of the loan before the scheduled term. This feature also gives the FHA buyer the opportunity to refinance the loan to lower interest rates if rates decline (with some additional costs involved in refinancing). DISADVANTAGES:  READ HERE
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
Yesterday, I outlined FHA NON Allowable expenses for a seller to be aware of when considering an offer from a buyer using FHA financing. READ MORE:  What Pasadena Sellers need to know about FHA Loans - Part I Today, I wanted to provide both the Pasadena sellers and Pasadena buyers with a list of items that FHA ALLOWS buyers to pay for.  So, with no further ado, here it is: BASE Escrow Fees Title Insurance ALTA FHA Appraisal Compliance Inspection Fee 1% loan Origination Fee FHA MIP premium READ MORE HERE
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
FHA loans have been in the news recently due to the increase in the FHA mortgage limits, up to $729,750 for single family homes and the fact that buyers can get an FHA loan with a much smaller down payment - as low as 3% down. READ MORE:  Distressed markets and FNMA announcement       If you are a Pasadena home seller, it is critical to be aware of the following:       Pasadena home buyer with less than 20% down in almost all instances will need PMI insurance (Property Mortgage Insurance.)  PMI rates are going up quickly and making it more expensive for home buyers which in turn makes the home that they want to purchase NOT affordable.  Most home buyers are not aware of these changes in the lending/mortgage industry until they are already in escrow.  FHA Buyer will have to get MIP (Mor...
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
Or, are you just listening to the white noise? As I was getting ready to go to work this morning, I overheard a news report that my husband was watching about the real estate market.  What struck me as odd was not that it was yet another "chicken little" report about the downfall of the Los Angeles real estate values.  Let's face it, there's nothing like fear to get viewership. No... what struck me as odd was that immediately after that dreaded real estate "for sale" sign, there was an image of a No Vacancy sign and a discussion about the difficulty renters are having finding good housing at a reasonable price. So let's see... the prices are going down and the rents are going up, does anyone see an opportunity here?  Savvy investors do. It's common sense, isn't it?  There's an opportuni...
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By Ellie Viray, Realtor, GRI
(Deasy Penner Podley)
There are several events that take place in Pasadena, the Rose City, throughout the year.  Following are events worth checking out to learn about preserving our city's history and architecture. May 18, 2008 "Preservation Month - Pasadena Japonisme" A docent guided tour to discover influence of Japanese architecture and design on homes. The tour will  visit the oldest true Meiji garden in California, the Storrier Stearns Garden, and Tadashi Shoji Residence. July 19, 2008 "Celebration of the Colorado Bridge" Join to celebrate the preservation of the famous bridge.  There will be music, dancing, children's activities, food and drinks on the bridge. October 17-19, 2008 "17th Annual Craftsman Weekend" This is an opportunity to learn about the Craftsman-era homes, exhibits by antique dealers,...
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
FNMA announced today that it's raising its Loan to Value (LTV) limits.  This means that home buyers can put a lot less money down to buy their dream home.  It all sounds great, right?  Fabulous news! NOT Really! Well it's not as it seems just like all the other announcements that have been made recently.  FNMA is trying hard, but we need to look at other factors. Yes... FNMA will allow you to get a loan with as little as 3% down.  Any loan amount or a combination of loans, if you're fortunate to find a bank that will offer a 2nd trust deed at this time, over 80% will require Property Mortgage Insurance (PMI). Word in the banking industry is that there are announcements from PMI companies indicating significant mortgage insurance retractions that impacted a host of programs - meaning tha...
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By Teri Barton, eXp Realty of California Inc.
( eXp of California Inc.)
    What role does your credit score play in purchasing a home? Do you know what your Debt Ratio is? How much house can you afford? How can people with bad credit buy homes Join us on May 17th to learn the steps you can take to purchase a home. Order your credit scores and have unlimited access to a professional team, including an experienced financial advisor, real estate consultants, and a lender for FREE individual consultations to enable you to plan your first home purchase. Space is limited so register today! For more info, contact: Teri Barton 626.695.9179    *Call for our FREE Recorded message 626.204.3365 SEMINAR INFO:    Date: May 17, 2008                                              Time: 9:00 - 11:00 a.m.                     Location:       553 S. Marengo Avenue, Pasadena, C...
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By Richard Brinegar
(RealEstate.org)
Pasadena home values seem to be holding up better than my vegas home value. Anyone wanna buy a "Las Vegas Home with Pool in Great Neighborhood" ?. This is my first blog post. I'll try to write something more meaningful next time.
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
Why a website about Pasadena real estate? Because I love what I do - helping buyers and sellers achieve their real estate goals!  Real estate has always been a vehicle for building wealth.  There is a lot of fear involved in buying or selling a home, condo or income property.  A fear of the unknown.  A fear of being represented by an unqualified or uneducated agent. My goal is to provide a website with on-line tools and information which will give power to the consumers in Pasadena and surrounding areas.  Knowledge is Power! My promise to my readers is to provide you with:    ~~~  A FREE Multiple Listing Search for Pasadena and the surrounding cities.  This tool will allow you to create personalized home searches and/or track the real estate market at your own pace.  You can create your...
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By Linda S. Lane
(Dilbeck Real Estate Real Living)
                                           April              vs            YTD# Units Sold84243Dollar Value$58,061,141 $183,351,741 Average List Price$725,432 $783,820 Average Sold Price$691,204 $754,534 Average Days On Market8480Average Square Feet16261685Average Price/Sq. Ft.$425 $448 % of List Price95.28%96.26%This information is provided to all of the Keller Williams Realtors in our Pasadena Office. I thought I'd share this with all Realtors across the United States so you'll know what the housing market is like - out West!
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By Linda S. Lane
(Dilbeck Real Estate Real Living)
The Pasadena Police Department will conduct a DUI Enforcement Check Point tonight between 7 p.m. to 3 a.m., said a spokesperson in a news statement. Of course, the location is under wraps...as it should be.Clearly, the Pasadena Police Department's goal is to remove impaired drivers from our streets and this program has shown to be a proven and effective tool. What I don't understand is that funding for this program was provided by a grant from the California Office of Traffic Safety, through the National Highway Traffic Safety Administration.  Shouldn't this just be part of their regular schedule for holiday or special event celebrations?  Maybe the cities just don't have enough people (or money) to man these checkpoints. ???? It just kind of surprised me that the city had to get a gran...
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By Linda S. Lane
(Dilbeck Real Estate Real Living)
Now's your chance to meet our local Firefighters. On Saturday, May 10th from 10am to 4pm you can visit any one of the following fire stations that will be open to the public:Fire Station #32, 2424 E. Villa St. Fire Station #34, 1138 E. Del Mar Blvd. Fire Station #36, 1140 N. Fair Oaks Ave. Fire Station #37, 3430 E. Foothill Blvd. Fire Station #38, 1150 E. Linda Vista Ave. Fire Station #39, 50 Avenue 64Fire Stateion #31, 135 S. Fair Oaks Ave.At Fire Station #33 at 515 N Lake Avenue, some of the Pasadena firefighters will demonstrate life saving techniques that include extinguishments, rescuing someone from a vehicle and aerial ladder operations. Fire engines and other equipment will be on display and there will be hot dogs and other refreshments as well as entertainment.For more informat...
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