Pasadena, CA Real Estate News

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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By Keller Williams
(Keller Williams Realty)
Imagine this: You have just been offered your dream job in New York.  There's only one problem.  You can't sell your Los Angeles home because the market's slow.  What do you do?  Turn down the job offer?  Rent out your home and become a landlord from 3000 miles away?  If only you could find someone in New York who needs to move to LA, you could simply trade houses. This idea of home swapping is becoming a reality for an increasing number of sellers who have been unable to find a traditional buyer for their home.  Sellers get connected with other sellers in the areas to which they hope to move.  Accurate numbers on this home swap trend aren't available but owners of popular home swap websites guess that 40,000 or more homes are listed on such sites according to the LA Times.    A variety...
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By Keller Williams
(Keller Williams Realty)
What is an REO?  When a homeowner doesn't make their mortgage payments, the lender forecloses on the property and auctions it off.  If no one buys the home at the foreclosure auction, then the bank still owns the property and wants to get rid of it as quickly as possible.  This is an REO, which stands for "real estate owned." The name comes from a category on the bank's list of assets.  REOs are also known as bank-owned properties or lender-owned properties. Banks don't want to build their own real estate empires.  They want to get rid of these properties quickly, because when banks' money is tied up in real estate they can't use it for lending or other kinds of investing, which is their primary business.  Since banks want to sell these homes quickly, REOs are often listed well below th...
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
PROSPECT PARK Prospect Park is a tiny neighborhood just North of the 134 Freeway and West of 210 - where the two freeways meet and is off of Orange Grove and Prospect Blvd.  This area was designated as a housing development in 1906 and had Sylvanus Marston clinker-brick portals on Orange Grove at Prospect Boulevard.  Beautiful and mature camphor trees create a shady arch over the wide boulevard as you enter from Orange Grove.  This neighborhood showcases a collection of Greene & Greene houses, the Gamble House and Frank Lloyd Wright's La Miniatura. READ ALSO:  Pasadena Historic Neighborhoods Gamble House (1908) 4 Westmoreland Place, Pasadena Called a Gamble House because it was built for David and Mary Gamble of, yes... you guessed it, Proctor & Gamble fame.  Alice Millard House (La Min...
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It seems like everyone's "going green" these days, from car makers, to educational institutions, to big companies trying to save on paper costs for bills.  Now home builders are jumping on board too.  Nationally, builders expect that by 2010 as many as 40-50% of homes being built will be "green," according to the National Association of Home Builders in March 2007.  Even in Pasadena we have seen the eco-friendly Wilson Residences listed recently, and construction has begun on the "Pasadena Eco-House." So what is a "green" home?  The US Green Building Council has provided a useful rating system called the Leadership in Energy and Environmental Design (LEED) Green Building Rating SystemTM.  The LEED ratings begin with the assumption that a home is a system, just like the human body or the...
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By Dawn Rickabaugh, Note Queen
(Dawn Rickabaugh (Note Queen) Owner Financing Consultant)
Well, it IS Friday, what do you expect? Plus, I feel it's my duty to warn unsuspecting citizens of how incredibly wild and dangerous Old Town Pasadena can be. This bunny sighting happened right in front of Cafe Bizou at the corner of Holly and Raymond. Amidst honking and hooting, this brood of bunnies was seen heading into Vertical at approximately 6pm on a Friday evening. They haven't been seen since. This is the type of unfortunate thing that happens when women are not properly repressed. Women hit their 40's and sometimes they simply break out of social constraint, creating havoc and cultural instability wherever they go. AND, they seem to be quite amused, don't they? It does appear that it may have been a birthday celebration (note the crown). Six bunnies . . . does this mean that t...
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