Pasadena, CA Real Estate News

By Doug Willis
(RE/MAX Property Concierge)
Every month we recap the housing statistics in the Pasadena area and provide an analysis of what is happening with respect to home values and how they correspond with the overall real estate market. On a macro level, the Pasadena Housing Market appears to be holding up pretty well compared to other parts of California. Each month the median price of a Single Family Residence continues to increase and the number of units that are sold continue to decrease.Sales for the third quarter continue to support this rationale:However, if we begin to break it down by sales price and by geographical area, things aren't quite as rosy as they appear. Since Pasadena covers such a wide socio economic area and offers many different types of housing, can house prices still be increasing when there are fe...
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
One of the trendier areas of Pasadena, CA is unarguable the South Lake Avenue District. Lake Avenue is a beautiful tree-lined street that features 10 blocks of top retailers, smaller boutiques and fantastic restaurants. It is also the heart of Pasadena's financial district. South Lake Avenue District runs from Colorado Blvd to the North, to California to the South, Hudson Avenue to the West and Mentor Avenue to the East. The history of South Lake district dates back to 1947 when Bullock's (now Macy's) opened its doors. Prior to that, this was a residential neighborhood with homes lining both sides of the street. "The Store of Tomorrow" as Bullock's was called was designed by a renowned architect Welton Becket. His goal was to create unity both "inside" as well as the "outside" of the b...
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
From STAFF REPORTS  Tuesday, October 30 | 6:15 amIn recent months there have been a series of residential burglarieswhere residents are tricked into stepping outside their residence byone suspect while another enters the home and steals property.These burglaries tend to be in the central and east portion of thecity just north of, and adjacent to, the 210 freeway.The suspects tell residents that their company is completing varioustypes of repairs or services in an adjacent yard and that they needaccess to the victim's yard and/or residence to complete the work.In other incidents, the suspects distract residents by saying thatthey lost their ball in the back yard or that they are looking for aneighbor to gain access to the neighbor's property or home.The suspects are described as two Hisp...
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
 Ritz Carlton has been a landmark in Pasadena since 1904.  It overlooks San Marino and is set on 23 acres of the most beautiful, lush grounds.  It has 392 rooms and a wonderful spa.  My family and I have been to many Sunday brunches to celebrate special occasions. So... it's with a sad heart that I read today that Ritz Carlton sold for $170 million.  It was purchased in 1994 for $42.5 million by LACERA (Los Angeles County Retirement Association.) The Hong Kong company, Great Eagle, currently owns a chain of luxury hotels in Australia, New Zealand, London, Boston and Hong Kong.  The new name of the hotel has not been released. For additional information, please visit LA Times - http://www.latimes.com/business/la-fi-ritz24oct24,1,2512203.story?ctrack=1&cset=true
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By Hayden Gerson
(HPM Financial LLC)
In the last year over 100 mortgage lenders have gone out of business due to the "mortgage meltdown" as most of you might now it is getting much more difficult to qualify for mortgages in Pasadena. The reason it is difficult to qualify for your Pasadena mortgage is because guidelines have changed drastically. Even reverse mortgages in Pasadena are getting harder to qualify for, leaving many looking for a honest mortgage company in Pasadena.Since many mortgage brokers in Pasadena are going out of business, and others are not able to get you qualified, you need to call a reputable company to help you with your home mortgage in Pasadena. We here at America One Mortgage Group are a national company headquartered out of Southern California. We have offices in many states and fund millions of ...
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By Ricardo Bueno
(Diverse Solutions)
Recommendation: Continue to float but float cautiously! Contact me for a personal rate quote!  Mortgage Bonds traded modestly higher today. Remember...                        Bonds Rates Up = Interest Rates Down   |   Bond Rates Down = Interest Rates Up Important News Today:Initial Jobless Claims reported today well above expected levels for the highest weekly total in (7) seven weeks now...Important Housing News...  the Office of Federal Housing Enterprise Oversight (OFHEO) announced today that the conforming loan limit WILL NOT be reduced for 2008. The current conforming loan limit remains at $417,000. READ FULL REPORT! 
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By Ricardo Bueno
(Diverse Solutions)
Mortgage Bonds are modestly higher; remember... Bonds Rates Up = Interest Rates Down   |   Bond Rates Down = Interest Rates Up That brings us to our point...It's time to start floating those loans! We should be watching mortgage rates in Pasadena drop lower these next 3-7 days. Do not lock in your mortgage rate at application; lower rates may be here next week.  [CONTINUE TO FULL REPORT]  
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By Michelle Minch, Home Staging Los Angeles and Pasadena, CA
(Moving Mountains Design Home Staging, Pasadena, CA)
I'll let the pictures speak for themselves:                                                                                                          Dining Room Before                                                 Craftsman Dining Room After Staging by Moving Mountains Design. With a fresh new paint color and now clutter-free, all the beautiful original Craftsman details, like the built-in cabinets really stand out.                                                 OK, here is the Master Bedroom before:Sorry, I couldn't get into the bedroom to get a better angle. Somewhere in there is the bed that the homeowners were sleeping in!        And here is the Master Bedroom after staging:         This 1920's California Craftsman home located in Pasadena, CA sold in two weeks for the full askin...
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By Nancy Morris
(Kellerwilliams)
Once a year a number of the organizations and cultural institutions in Pasadena get together for an Art Night.  Well, this Friday, Oct. 12 is Art Night for 2007.  This year the artists involved were give the theme "Skin".  I am amazed at the diversity in the work that has resulted.  My friend, Dana Hursey, who is an eclectic photographer with an extremely varied background (everything from 14 Days in Great Britain  to commercial work for clients like Pacific Care and the White Sands Film Festival) was commisioned by the Pasadena Conservatory of Music to do a series of photographs for Art Night.  His work is currently on exhibit at the Conservatory.The Pasadena Playhouse is featuring all of the crafts associated with theater.  I am told their courtyard will be a great place to visit on F...
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By BZPros Real Estate Team
(Keller Williams Realty)
Hey everyone!Please visit our new resource RealSquid.comSee you there!The BZPros Real Estate Team
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
Do you have a rental property in Pasadena, CA where the tenant moved out and you're getting to ready to lease it again?  Are you in the process of selling your home or condo?Did you know that if you own the property in Pasadena, CA, you have to comply with the city ordinance requiring an occupancy inspection?     Here's what the City of Pasadena says:Occupancy Inspection ProgramThe Occupancy Inspection Program is designed to ensure the quality and maintenance of the City's single family homes, duplexes, and condominiums. This is achieved by conducting inspections of these dwelling units at the time of sale or change of occupancy. If, at the time of inspection, a dwelling unit is found to be in violation of the Housing Code, the property owner is notified of the violations and given a re...
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By Teresa Lopez
(Piedmont Investment Company)
Hi everyone!There is a really cool event taking place in Old Town this Tuesday (the 25th) from 5:30 to 9pm. It is called "Taste of Pasadena" and basically you pay $25.00 to roam around Old Town for a couple of hours and try out food from the participating restaurants menus. Its a good cheap evening and you get to sample some amazing cuisine.My co-worker Patty is selling tickets so if you any of you are interested please let me know and I will save you however many tickets you might need.Cash and checks are accepted. Checks should be made payable to P.F.A.R.C.F. Hope to see you there!
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Pasadena has gone to the dogs!!!Sunday, September 30, 2007, Pasadena will host a fund raiser for the Pasadena Humane Society and the Society for the Prevention of Cruelty of Animals.  This is the biggest fundraising event every year for the shelter. Last year they raised about $155,000 and this year their goal is $200,000.  Funds are used to care for lost, injured and abandoned animals in their care.   The shelter is an independent, non-profit, donor supported organization that serves 7 cities with a combined population of approximately 500,000.  Animals give such happiness to so many people.On the day of the walk, you can join us with or without a pet.  You have a choice of either walking for 1 or 3 miles.  If you will feel strange not having a dog with you, that's ok - you can borrow ...
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By Doug Willis
(RE/MAX Property Concierge)
We all have been hearing of how foreclosures, Notice's of Default and Short Pays are on the rise and having a negative impact on the real estate market. But how is this affecting us locally, or more specifically, the Pasadena Housing Market?The above graphic only looks at Notice's of Defaults that have been filed. It does not necessarily mean that a house is going into foreclosure, only that the homeowner is delinquent in their payments. Considering the overall number of homes in Pasadena, the number is relatively small, considering the month to month number of defaults filed compared to homes sold, the numbers are significant.We will watch and see what happens within the next few months. Many of the reports I see in the media forecast this situation reaching its peak in early to mid 20...
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By Linda S. Lane
(Dilbeck Real Estate Real Living)
Things aren't as boring as some people think around Dena Land...here's just a sampling of the next few days...Sept 6-6-8pm. Investment Seminar at Keller Williams Realty, 445 S. Fair Oaks Ave, Pasadena. FREE. Dinner served. RSVP to 626/786-1231Sept 8 & 9-7pm Shakespeare Festival's "Henry V". Levitt Pavilion. 85 E Holly St., Pasadena. FREESept 9-7pm. Tumbling Tumbleweeds. Coffee Gallery Backstage. 2029 N Lake, Altadena. 626-398-7917. $15 (ok for kids)Sept 11- 7pm to 8:30pm Estate Planning Workshop @ Trilogy Financial Services Inc. 1000 Lakes Drive #325, West Covina, CA 91790 626-918-5670 to RSVPAs always, let me know if you have questions!
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
It's hot.  It's soooo scorching hot.  It's ridiculously hot and humid!  There was even an excessive heat warning today!  I can not remember it every being this hot in my beautiful city of roses.  Earlier today, it was 112 degrees on my thermostat in my backyard.  It feels like Palm Springs.  Weather.com reports that it's 99 degrees righ now and it's 7:25 in the evening.I was curious so I decided to look at stats, the average temperature for Pasadena is 91 degrees in August and 89 degrees in September.  The last time it was so hot in Pasadena was in 1934 when the temperature hit 110 degrees.    Pasadena, CA Weather FactsOn average, the warmest month is August. The highest recorded temperature was 110°F in 1934. On average, the coolest month is January. The lowest recorded temperature was...
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By Doug Willis
(RE/MAX Property Concierge)
Every once in a while, I am at a loss for words. I cannot come up with any reasonable explanation as to why something occurred. This is one of those times.The above house is located in Pasadena, zip code 91107. It could be the "poster" house for what went wrong with real estate and how sub-prime lending (or the lack thereof) is affecting everyone across the board, from an aspiring home buyer to major banks and financial institutions.A little history about the pictured house. A very ordinary 3 bed / 2 bath, with 1550 square feet on a lot size of 6700 sq ft., built in 1927. This is where ordinary ends.This house was sold in June 2006 for a sales price of $549,000, fairly typical given the location and the condition. The buyer took out two loans, the first was $439,200 and the second was ...
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By Nancy Morris
(Kellerwilliams)
A tribute to Pasadena's unique contributions to the American Arts & Crafts Movement,Craftsman Weekend is the largest and most comprehensive celebration of the Craftsman Movement in the Western United States.  Enjoy a full weekend of events including bus and walking tours of historic neighborhoods, A craftsman House Tour that visits six distinctive Craftsman-era homes, exhibits of contemporary and antique Craftsman furnishings and accessories led by renowned experts, plus special evening events in historic sites. Opening Reception at the Castle Green - Friday, October 19, 7-9 pm. Private Tour and Reception at the Robinson House - Saturday, Oct 20, 6-9 pm. The Arts and Crafts Movement in Long Beach  - Friday, Ocober 19 9 am -4 pm. Sam Maloof House and Garden - Saturday, October 20, 9 am -...
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Eye Level Pasadena is a local Pasadena blog written by Jill Davis Doughtie, a local Pasadena resident. Now for those you interested in the local Pasadena Real Estate market and relocating to Pasadena, but you're really attached to your home, you gotta see what this home owner is doing... [READ ON]I wonder how the mailman keeps up?
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By Doug Willis
(RE/MAX Property Concierge)
July was a strange month for Pasadena real estate. The reason....Sales of townhomes and condominiums outpaced sales of single family homes. Rarely does this occur. The market for townhomes and condominiums continues to prosper as new construction offers Buyers either the amenities or lifestyle they cannot find in a comparably priced home.The median price of a townhome/condo was $575,000 compared to $850,000 for a single family. As recently reported, there is a weakness in the market for single family homes priced below $625,000, however this market represents 70% of all the condo/townhomes sold in Pasadena for the month of July.In other areas the days on market showed an increase from 46 days on July ‘06 compared to 59 days in July ‘07. Sellers also had to be more aggressive in July. Sa...
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