Pasadena, CA Real Estate News

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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By Teresa Lopez
(Piedmont Investment Company)
Here is some information we like to share with our clients regarding loan payoffs, it may be helpful to your clients as well!ALMOST ALL INTEREST ON LOANS ARE PAID IN "ARREARS": EXAMPLE - IF YOU MAKE YOUR PAYMENT ON THE FIRST DAY OF THE MONTH, THIS PAYMENT PAYS THE INTEREST TO THAT DATE AND NOT TO THE FIRST OF THE FOLLOWING MONTH.PAYOFFS REQUIRE INTEREST TO BE PAID TO DATE OF RECEIPT, NOT CLOSE OF ESCROW: IF YOUR LENDER IS OUT OF AREA OR OUT OF STATE ALLOW TIME FOR MAILING.ALL LENDERS REQUIRE THAT YOU KEEP PAYMENTS CURRENT ON YOUR LOAN, EVEN IF IN ESCROW: WE REQUEST THAT YOU EITHER CONTACT YOUR REAL ESTATE AGENT/LOAN BROKER OR YOUR ESCROW OFFICER IF YOU ARE GOING TO MAKE A PAYMENT DURING THIS ESCROW PERIOD.PLEASE BE AWARE THAT IF YOUR LOAN IS AN "FHA" LOAN THE LENDER WILL REQUIRE INTERES...
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By Doug Willis
(RE/MAX Property Concierge)
The Pasadena Housing Market appears to be confused. The sales numbers for July reflect volume typically seen in January and February, not what you would expect for the height of what is supposed to be the home selling season. Unit sales of Single Family Homes were off almost 50% compared to last July. The median price shows an increase over last year, which I feel is attributable to what is taking place in the market. The housing market for homes priced $700,000 and above is strong and Pasadena real estate is no exception.The weakness as we have seen in the past few months is coming form homes priced below $625,000. There were only ten homes that sold last month that fall into this category. There is currently about one hundred houses on the market that are either "for sale" or in escro...
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By Doug Willis
(RE/MAX Property Concierge)
Your house has been for sale now going on 60 days along with many other houses here in Pasadena and you just accepted an offer. Congratulations, time to start packing all those personal items, right? You might wait a few days before making that trip to the box store and here's why. When a Seller places a home on the market "For Sale", they are 100% committed to sell it (most of the time, I have seen some exceptions). When a Buyer has a purchase contract accepted they are usually 50% committed to buy it. Notice a disparity here?Our purchase agreement drafted by the California Association of Realtors provides for a seventeen day contingency period. Contingencies are provided to the Buyer for a number of issues including obtaining a loan, appraisal of the property, investigation of the con...
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By Ricardo Bueno
(Diverse Solutions)
In 1991 while most of the block was vacant, One Colorado was the project that let the forefront for the redevelopment of Old Pasadena. It's now the hot spot for all retail, restaurants, entertainment and business offices here. Whether you're shopping, looking for a place to have lunch or dinner, or you work here, there's always something to do out on the boulevard. Their website explains it best, "the urban experience is fresh and the retail caliber high." -- (One Colorado Website; Quick Facts). So what's going on this week in the Courtyard? Kids Day in the Courtyard | Thursday, July 26thWhy is it important? We all work long hours and sometimes don't spend much time with family. Make it a fun day, stop by and enjoy the festivities. Spend time with your kids taking them to this mini-circ...
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
I have always believed that real estate is strictly a LOCAL business.  To this day, I am flabbergasted by the local Pasadena news media writing and panicking about national real estate trends.  What does that have to do with Pasadena home sales?  Very little!  The real estate market in and around Pasadena, California has been pretty steady.  It's not as hot as it used to be, but we're definitely seeing a shift to a more balanced market. Buyers are being more cautious and are taking a little more time to find the home of their dreams.  Sellers are begining to be a bit more realistic about how fast their home will sell and for what price. Is this a good thing?  Yes!  Pasadena home prices could not have sustained the 20% to 25% increases in home values for much longer.  The fact that the p...
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
 DANCE!!!From Sizzling Salsa to Sensational Swing... Pasadena evenings heat up in Paseo Colorado this summer.  Paseo Colorado is located in the heart of Pasadena's downtown civic center along historic Colorado Boulevard. Every Friday and Saturday from July 6th to August 25th, you can get free dance lessons or just enjoy the wonderful music and dancing.  This event starts at 6:30 pm.Fridays are dedicated to Swing and Saturdays to Salsa - pick one or stop by to enjoy both!  For more information and the line-up, please visit click here.
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By Linda S. Lane
(Dilbeck Real Estate Real Living)
Take some time and take your kids tomorrow night to see Terrell and Takako at the Levitt Pavilion in Pasadena's Memorial Park at 145 N. Raymond/85 E Holly Street, Pasadena.Terrell and Takako are a husband-and-wife variety duo. They perform as jugglers, magicians, mimes, unicyclists, and paperfolders for audiences of all ages throughout the world. They have delighted audiences in Canada, Japan, and the United States. Terrell and Takako have performed at conventions, corporate events, fairs, festivals, colleges, hotels, schools, clubs, and theme parks. Their show includes selections from more than 20 routines involving more than 20 types of props. I saw these people on a promo for Disneyland Tokyo and they were amazing - they juggled, mimed and clowned around. I always believed that mimes...
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By Doug Willis
(RE/MAX Property Concierge)
An analysis of the Pasadena Housing Market indicates that the market has slowed and the word "patience" has kept back into home sellers' vocabulary. However, Chicken Little is nowhere in sight. This analysis looked at Single Family Residences' from January to June. Sales compiled from 400 + transactions indicate that the market is not moving forward or backward but holding steady in terms of pricing. The median price continues to be $750,000, which is the median price we recorded for the same period last year. Considering the overall state of the national housing market, I think Pasadena has performed very well. To be even with last years numbers speaks well to the local economy.In terms of the number of houses that are selling, fewer are being sold this year vs. last and they are takin...
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By Linda S. Lane
(Dilbeck Real Estate Real Living)
Last night I decided to leave my cozy home and head down the hill to the re-opening of the Pasadena City Hall.  The area has been under construction for retrofitting and renovations for over 3 years and the project is now complete.  Of course I had a problem finding a place to park since it was such last minute and then I went down there to find at least 2,000 people there, many sitting in chairs they brought.  Silly me, I didn't bring a chair, so I stood and walked around the rest of the evening (along with the stilt walkers).  It was ok, though.  I was sitting most of the day anyway, so I didn't need to sit anymore.   I got there in time to hear the Pasadena POPS Orchestra perform with Valarie Pettiford and see the spectacular light show.  Actress Tracy Scoggins read something patriot...
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By Doug Willis
(RE/MAX Property Concierge)
Sales of single family homes continued to slow for the month of June. There were fewer units sold this year compared to last and also increased evidence of a softening market in terms of pricing.When fewer units are being sold and it is taking longer for those houses to sell, that's a pretty good indication that prices may begin to show some vulnerability. There is a saying in real estate that "all markets are local". What applies to one market may not necessarily apply to another. We actually see evidence of this here in the Pasadena housing market with some houses selling very quickly and others taking much longer. Their locations can be as little as just a few streets apart.The data indicates a house listed for sale at $500,000 last year would sell in 39 days and actually sell for $5...
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