Pasadena, CA Real Estate News

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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By Dawn Rickabaugh, Note Queen
(Dawn Rickabaugh (Note Queen) Owner Financing Consultant)
As you can see from the above market statistics, home sales have slowed considerably since March of last year . . . the number of closed sales is just over half. Prices are holding fairly well, though, (down about 4%) but you have to be willing to wait a little longer to close escrow. Still, 63 days on market isn't bad, considering that the national numbers are showing 10 months of inventory (meaning, the average time it takes to sell a home is 10 months). Fewer sales are occurring, but they are occurring, and the sellers that are willing to price their property reasonably are doing better than their national counterparts. The listings insisting on last 2 years' prices are expiring unsold in droves, but the properties priced well are selling fairly quickly. When a bank offers an REO (r...
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
Did you know that most Pasadena agents will not show their buyers available homes for sale that are in a ‘short sale' process?Why?Most Pasadena real estate agents do not understand how to work with a ‘short sale'.  They do not understand how to counsel their buyers appropriately and do not want to put in the time or effort into the short sale, thus avoiding any listings that state that they are ‘short sales'. We have been fortunate over the last 6 to 8 years not to work with loss mitigators at the banks in handling these home sales.  It is an art more than a science.  Each bank has thier own idiosyncrasies.  It does get complicated and requires a lot of work on the part of your Pasadena real estate agent.Can YOU buy a home through a Short Sale?  YES¦ I just helped buyers purchase and su...
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By Dawn Rickabaugh, Note Queen
(Dawn Rickabaugh (Note Queen) Owner Financing Consultant)
Sellers who are willing to offer terms and carry paper can really give themselves a nice seller financing advantage in today's market, but sometimes they get freaked out by the "due on sale" clause. They are worried that if they wrap the existing lien, they'll be in trouble if the bank gets wind of the transfer. Wrapping good underlying financing is a great way to put a deal together, but there can be a lot of fear out there, as evidenced by this email I just received from another real estate agent: Question: "I have a client looking to carry and was just told by Title that the banks could call the loan due at any time. Has anyone ever had that happened and would it be beneficial to contact their mortgage company with a 'heads up' of what they were doing, or would that red flag it? Cann...
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By Dawn Rickabaugh, Note Queen
(Dawn Rickabaugh (Note Queen) Owner Financing Consultant)
Learning to use public transportation (the metro) was really a stretch in the beginning, but now it's a cherished aspect of travel for my whole family. The gold line's Memorial Station drops you off a block or so from historic Old Town Pasadena, one of the most delightful places to hang out this side of the Mississippi. Holly Street Village sits right on top of the Memorial Station, and has the distinction of being the only apartment community situated within the heart of Old Pasadena's renaissance district. This property is the winner of the prestigious Gold Nugget award for its architectural design and land use planning. The units are 1 and 2 bedrooms each: Monthly Rent From: $1,695 - $2,700151 E Holly St., Pasadena, CAPhone: (888) 699-7938 And, happily, my daughter's cheer gym, Victo...
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By Dawn Rickabaugh, Note Queen
(Dawn Rickabaugh (Note Queen) Owner Financing Consultant)
And you thought you needed capital gains strategies before . . . Both Senator Clinton and Senator Obama have called for an increase in the capital gains tax rate. It's currently at 15 percent, and they'd like to see 20 or even 25 percent. Property owners, more than ever before, need to learn intelligent use of the installment sale to avoid the wealth-sapping wonders of the IRS. But hey, we all have to do our part to bail out the speculators, don't we? Where do I sign up? Of course, I want to do my best to be patriotic, yes, of course. But will all the other middle class property owners join me? Both senators have said an increase in capital gains taxes would increase federal revenues, but when the tax was raised in 1986, from 20 to 28 percent, tax receipts went down, not up. People just...
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By Dawn Rickabaugh, Note Queen
(Dawn Rickabaugh (Note Queen) Owner Financing Consultant)
One of the things I love about Pasadena is the intelligence, creativity and fun-loving nature of the trees. These palm trees behind Pasadena's Gold Shell in Memorial Park are doing a good job of making shadow shapes that definitely look like . . . well, trees. No, wait, I see it now! There's both a front and a side view of a tribal headdress . . . or maybe a couple of turkeys or slightly battered peacocks. The metro's gold line has a station here at Memorial Park, which is very convenient for my daughter, who gets off at this station to get to her down town cheer practice. (Victory Cheer Company) "The Levitt Pavilion for the Performing Arts in Memorial Park sits in the hub of Pasadena, truly in the center of the City of Pasadena’s diverse neighborhoods and cultures. Once the home of th...
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By Ellie Viray, Realtor, GRI
(Deasy Penner Podley)
Here is the local market overview for the month of March 2008, from our KW Realty, Pasadena Market CenterAltadena, CA17 Units Sold, 98.07% of List Price        Dollar Value  $10,008,000     Avg. List Price  $600,294,    Avg. Sold Price  $588,706 ,   Avg. Market Time  60 days      Avg. Price/Sq.Ft  $357.00    Ave. Sq.Ft.  1648  Pasadena, CA62 Units Sold, 95.72% of List PriceDollar Value  $43,520,500Avg. List Price   $733,338    Avg. Sold Price   $701.944,    Avg. Market Time   81 daysAvg. Price/Sq.Ft   $425    Avg. Sq.Ft. 1651*Information courtesy of J. Daniels, Agent Services.  Information is compiled from Itech MLS.
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By Dawn Rickabaugh, Note Queen
(Dawn Rickabaugh (Note Queen) Owner Financing Consultant)
Although I always associate this important Pasadena landmark with parking tickets (I never seem to have enough quarters), there's a little more to it. For instance, this is where the Posada Candlelight AIDS Walk begins and ends each year. I first joined the December Posada Walk in 1996. We pulled 4 children (all in diapers or pull-ups) in a little red wagon all over Pasadena that night as they took turns cradling a semi-mutilated, but most coveted Baby Jesus doll. "The Pasadena City Hall was built in 1927 to inspire the city with beauty, boldness and vision, and is an important part of this community’s rich architectural heritage. John Bakewell Jr. and Arthur Brown Jr. designed this handsome domed Baroque structure at the junction of two broad avenues in 1925. Equally impressive are th...
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By Mary Thomas BH,MB,HB, PV, Estates LA+, Mary C. Thomas Your Agent around the Globe
( Remax Estates Properties)
  Location, Location, Location,,, Relocation,Relocation,Relocation for Education, Are they the same thing?Pasadena has some fantastic and wonderful legacy, the Rose Bowl, Fine Dining and Great Shopping but when shopping the Schools you will find this link verY helpful when relocating to this beautiful Foothill community. Just click this link and you will find all the information that you will need to compare your schools to the Pasadena Area. http://www.greatschools.net/   Since Pasadena schools are not rated as high as San Marino, Arcadia, Sierra Madre, I find that many of my clients choose private school for their children.  There are some excellent private schools in Pasadena Area but unfortunately there is no rating scores for the private schools. Just give me a call and I will be h...
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By lee cuellar
(keller williams/mistermidcentury)
Hello friends,Just a quick note to let you all know about a wonderful event coming up on March 30.  The Postwar Pasadena, a tour of eight architecturally significant homes.  I have the honor of docenting at the King Residence, an amazing example of Buff and Hensman architecture.  All of the furniture and most of the art in this residence was created and built by Buff and Hensman.    from the http://www.pasadenaheritage.org/ website:House Tour: Sunday, March 30, 2008 - 9 AM - 4 PMPasadena Heritage presents Postwar Pasadena, a tour featuring eight privately-owned homesthat are outstanding examples of Pasadena's Modern architecture.Following World War II, the building boom in Southern California saw a new interest in architectural experimentation. Architects who trained at the University o...
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By Nancy Morris
(Kellerwilliams)
My sister is a fine artist and is exhibiting in Pasadena starting this Friday night.  It is well worth your time to go check out this exhibit.          The California Art Club and             the Pasadena Public Library proudly present   Arroyo Seco en Plein Air   Opening Reception at Art Night Pasadena Friday, March 14, 6-10 pm                                                    Junn Roca, Arroyo Creek, Oil on linen, 24" x 20"   You are cordially invited to attend the Opening Reception of Arroyo Seco en Plein Air on Friday, March 14, 6 - 10 pm at the Pasadena Public Library. This special exhibition is organized in conjunction with the Arroyo Seco Foundation and the Pasadena Public Library for Art Night Pasadena, an evening of free events at various museums, and cultural venues in the ci...
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By Mary Thomas BH,MB,HB, PV, Estates LA+, Mary C. Thomas Your Agent around the Globe
( Remax Estates Properties)
Please sign up for the petition below to stop drive thru mastectomies. This operation is not only very painful, and emotional that the least insurance companies can do is give these women 2 days in the hospital to recover. See the testimony from the nurse on how horrible and what bad condition these woman are sent home in after one day.Now insurance companies are trying to make it an outpatient procedure. I am a big fan of the movie "sicko" a documentary on the insurance companies. These companies need to be stopped, they are getting enough of our money and if you watch "sicko" ,which you can rent at blockbuster you will see how they are paid and given bonus's to deny our claims. It is a real eye opener, you should see what poor coverage and treatment our 911 workers are given that are ...
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
On February 13th, President Bush signed the Economic Stimulus Bill into law.  There has been a lot of confusion as to the details with the most critical question what will the new conforming loan amount be?A conforming loan amount is simply the amount of money that a bank will lend you at lower interest rates.  Currently, this amount is set at $417,000.  So... if you were to buy a home for $600,000 and put 20% as down payment ($120,000), you would need to get a "non-conforming" loan or what the banks call a jumbo loan of $480,000.The reason there's confusion on this package is because all the details have not been finalized yet.  HUD has 30 days to provide certain information like median area home prices, MSAs and mortgage principal obligation limits after the bill becomes law.For the m...
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By Mary Thomas BH,MB,HB, PV, Estates LA+, Mary C. Thomas Your Agent around the Globe
( Remax Estates Properties)
Yes, It looks great, another discount broker, and here we sit waiting for the next fling of latest internet discount offers disappear but how many innocent buyers do they take down with them.  It is definitely a case of forgive them for they know not what they do.  When they have worked in th business for as long as I have they will understand my article and my sentiments for the unprotected and uninformed home-buyer.Does anyone else see more dangers that I do with Red Finn and other discount brokers? Buyers this is your most important investment of most of your lives.  I don't think I can save all real estate buyers but it should at least raise flags for concern and scare you about who is investing your hard earned dollars. In picking a Realtor, the consumer should be thinking about ho...
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By Mary Thomas BH,MB,HB, PV, Estates LA+, Mary C. Thomas Your Agent around the Globe
( Remax Estates Properties)
Christian voter guide 2008 link to Mike Huckabee's blog.Here are some info facts about Mike Huckabee's qualifications for your FYI. A great guide for his stance on the issues and a link for his blog below.Voter Guideby Team Huckabee Please reach out to friends and family nationwide this weekend and ask them to support Gov. Huckabee.  Here is a simple guide to his stance on the issues.  Huckabee for President Volunteer Issue Guide  ACCOMPLISHMENTS 1. With ten-and-a-half years of experience running state government, Governor Mike Huckabee of Arkansas has more relevant executive experience than any candidate in the race - either Republican or Democrat. 2. Recognized and tapped by his peers for leadership, the National Governor's Association selected Governor Huckabee as it's Chairman.3. TI...
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By Mary Thomas BH,MB,HB, PV, Estates LA+, Mary C. Thomas Your Agent around the Globe
( Remax Estates Properties)
                                               Internet technology is now turning a corner in real estate Monday we merged with the Greater MrmLS Boards.Which means to me that I can now service all my past clients in Arcadia, Pasadena, Monrovia, Duarte, Glendora, Covina, South Pasadena, Alhambra, Temple City,using over my 25 years experience with Pasadena,San Gabriel Valley Area with ease.I am able to set clients up on a updated market analysis and keep them informed of the latest sales in-their neighborhood at the click of the Internet.The Internet is now allowing us to serve all our clients in California as easily and with current up to the date information as the local neighborhood specialist. Which is great for me, with my track record, I have many clients who are comfortable only w...
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