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Pasadena, CA Real Estate News

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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By Ellie Viray, Realtor, GRI
(Deasy Penner Podley)
Broker's Open House/Caravan - May 1, 2008I saw number of homes today and here is a great English Cottage I like to introduce.A Charming English located on 2064 Queensberry Road, Pasadena.  Home is price at $689,000. 2 bedrooms, 1.5 bathrooms. 2 car garage. It has a white picket fence and a walkway with vibrant colored flowers.  The property is built in 1934.  Highlights commented by the listing agent are:  wood beamed ceilings, beautiful picture window, period wall scones, fireplace, formal dining room, gourmet kitchen, farmhouse sink, custom glass cabinetry, stainless steel appliances, cute breakfast room and more.  A picture perfect home in NE Pasadena, CA.
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By Ellie Viray, Realtor, GRI
(Deasy Penner Podley)
When it comes to buying real estate, Pasadena, CA. has become a really popular location in the last few years.  Why is that?  First, Pasadena is situated perfectly surrounded by main cities like, Glendale, La Canada, Arcadia, San Marino, Eagle Rock.  It takes roughly 15-20 minutes to go to Downtown Los Angeles.  The Metro Rail makes it very convenient for those who wish to take the public transportation.   For those who love to shop, there is the South Lake Shopping, The Paseo Colorado, Old Town Pasadena, Hasting Ranch Shopping area. Plus Arcadia Mall has added many more restaurants and shops.  Nearby South Pasadena on Mission St. has and unique boutiques.  There is a Farmer's Market in South Pasadena and Pasadena.If you enjoy the city life, there are number of new constructions going o...
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
Earlier today, I had an appointment with a home seller in Pasadena.  He had his home listed on the market and in the period of two months had only a few showings.  His listing expired and he is now in the process of interviewing to find a Pasadena real estate agent that he can trust to handle the sale and marketing of his home.  A very smart move on his part given the diversity of experience in the Pasadena real estate market place. His previous real estate agent entered his home in the Multiple Listing Service (MLS).  Thats great, right?  NO¦  The problem is that his real estate agent added his listing in the wrong MLS.   The Multiple Listing Service that provided listings of home in Los Angeles NOT Pasadena. Pasadena Home Seller Tip: When interviewing your Pasadena real estate agents ...
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By Linda S. Lane
(Dilbeck Real Estate Real Living)
Remember so long ago when we were kids? OK for some of us it WAS a long time ago.  But, one of my favorite memories was dressing in our pajamas, piling into our station wagon and heading over to the Pasadena Library for story time.Tomorrow night, Monday, April 28, 2008 at 7:00pm you have the opportunity to do the same thing - for your children. Unless, of course, you want to dress into your own PJs and listen to a story.  The Pajama Storytime will take place at the Pasadena Public Library at the Hastings Branch at 3325 East Orange Grove Blvd.  It's FREE.  Just bring the kids and they can bring their favorite stuffed animal to the library for bedtimie stories that are sue to inspire sweet dreams!For more info, call 626/744-7262 or go to www.cityofpasadena.net/library 
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By Linda S. Lane
(Dilbeck Real Estate Real Living)
A dear friend of mine, also a fellow musician, Billy Mitchell, will be presenting John Reed at Jones Coffee Rosters in Pasadena.John Reed, a student at Sante High School (LA) member of the All-City Marching Band and SAPPA mentee, delivers his own brand of classic and original RagTime. Jones Coffee Rosters is located at 537 S. Raymond Avenue in Pasadena, just north of California.  The coffee is fantastic and they roast it right there on the site.  Talk about FRESH!!!For more info, call 626/564-9291 
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By Linda S. Lane
(Dilbeck Real Estate Real Living)
In 2002, Sunset Magazine named Bungalow Heaven the "Best Neighborhood" in the West.Bungalow Heaven is a collection of over 800 homes built in the early 1900's that started the evolution of the American Arts & Crafts movement. It's been nominated to the National Register of Historic Places.On Sunday, April 27, 2008 from 10am to 4pm you have the opportunity to attend a self-guided tour of a collection of these historic homes. Unfortunately, strollers are not allowed in any of the homes and there is no disabled access.Tickets are available on Sunday for $20.00 per person at McDonald Park at Mar Vista Avenue and Mountain Street in Pasadena. For more information, call 626/585-2172 or go to www.bungalowheaven.org 
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By Ellie Viray, Realtor, GRI
(Deasy Penner Podley)
Today, I attended an event called the "Shred and Fed."  This event was held by Coldwell Banker Old Pasadena Office, located in Old Town Pasadena.  It was a HIT.The agents of the office hires a reputable secure and disposal/recycling company to get rid of your e-waste and paper/files.  Such as: computer, monitor, telephone, radio, battery, old bank statement, financial documents, credit card bills, printer, cell phone, VCR, keyboard, fax machines, and the list goes on and on.  This recycling company can destroy hard drives using their "Separation Technology."  Note:  The company does not land fill anything.With all the GREEN MOVEMENT, clients love this, and love the catering.  Yummy, Mexican Food awaits after you toss away all your trash.  Clean out your garage. You drive through and dri...
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
If you are a homeowner in Pasadena or any of the Los Angeles County areas and your home value has declined, this article is for you.Today, I had an opportunity to meet with and interview Carol Wong Quan.  Carol is a Special Assistant with Los Angeles County Assessors office.  She was excited about the proactive approach that the Assessor is taking in re-evaluating single family homes and condos for a possible Decline-In-Value reassessment.If your home was purchased between July 1,2004 and June 30,2007, you do not need to do anything.  The assessors office is actively reviewing 316,000 parcels to see if your property taxes need to be lowered due to value decline.  Over 152,000 homes in the Los Angeles County have been reviewed already and close to 72,000 home owners will get the happy ne...
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By Mary Thomas BH,MB,HB, PV, Estates LA+, Mary C. Thomas Your Agent around the Globe
( Remax Estates Properties)
  Pic courtesy of mymoneyuniversity.com                                                                 Pic courtesy of google,com                               Picture courtesy of google.com                                                                                                         Currently the market is going to start moving again, The investors are coming back, when theinvestor can put 20% down and break even , they will start investing again. This is one chance in a lifetime when it is cheaper to buy than rent providing you have a down payment of at least 10-20%. THe downside is that you have to be extremely qualified becuase the lender's are making it harder to obtain a loan, which just goes with life.  When opportunity knocks only a choosen few are ready..Is it you? ...
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