Pasadena CA Real Estate

by Brian Brady

The economy is really sick:

Today's CPI report signals deflation, or a prolonged price slide, may become another hazard facing Federal Reserve Chairman Ben S. Bernanke and President-elect Barack Obama. Deflation could worsen the economic downturn by making debts harder to pay off and countering the impact of Fed interest-rate cuts.

''The economy's really just in horrific shape,'' said Joseph LaVorgna, chief U.S. economist at Deutsche Bank Securities in New York. Fed officials will ''take rates as low as they have to'' to avoid ''a deflation-type scenario, which now all of a sudden is very possible.''

LaVorgna predicts the Fed will cut its main rate to 0.5 percent from its current 1 percent when it meets on Dec. 16.

Fed Vice Chairman Donald Kohn said today that while the risk of deflation is ''still small,'' policy makers must be ''aggressive'' in fighting the danger. The economy ''is declining right now'' and will record a couple of quarters of contraction, he said in answering questions after a speech in Washington.

Fed policy makers last month forecast the U.S. economy will contract through the middle of 2009, with some officials prepared to cut interest rates further in response, according to a record of the group's meeting.

If the Fed's thinking of cutting rates further, why aren't mortgage rates going down?  I think it's because the Fed has done all it can do.  Future rate cuts are like that eighth scotch.  Drinking that eighth scotch isn't going to make you feel any better than the seven prior.  It just might make you feel worse.

I advised folks, right after the election, to lock loans with rates under 6% if they were closing within 30 days.  Today, I'm suggesting that you lock any loan that is closing this year.  Today, a 45-day lock for a 6.0% rate would costs 1.25%.  While you may see rates drop below 6% , in the next 45 days, the risk of them moving higher is greater.

Take 6% and run.

Altadena real estate is still seeing an increase in home listings.  Inventory is increasing, prices are going down and sales will be decreasing in the next couple of months.  Take a look at the number of Altadena homes with accepted offers (sales pending) and you will see a significant decrease from 37 in June to 22 in October. 

Starting with October 2008, I will be able to include the Median Sales Price which will help us in tracking the real estate market a bit more effectively.

In the meantime, Altadena is still in a very strong buyer's market.

Condos and townhomes in Altadena are still almost nowhere to be found, but for the persistent few who want to buy an Altadena condo there are a couple available for sale.

If you are looking for Altadena foreclosures, here's a list of all Altadena homes that are bank owned and foreclosed.

Altadena Real Estate Market Statistics for October 2008 with comparison to June and September:

 Real estate data based on information from ITEC (Pasadena Foothills Association MLS service)

SEARCH HOMES FOR SALE IN ALTADENA (Single Family Residences)

SEARCH ALTADENA CONDOS AND TOWNHOMES FOR SALE

Real estate market activity with real time updated data can be found on Pasadena California Real Estate Blog's How is the Real estate Market tab.  These real estate housing reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

Posted by Irina Netchaev, Real Estate Agent.

As a real estate agent working in and around Pasadena California, I am constantly getting phone calls from buyers looking for great deals and information on the latest real estate prices.

If you are looking for a real estate deal, you came to the right place. I will be posting my "Dusty Deals" by area on a monthly basis right here for your review.

What is a "Dusty Deal" list? It is a list of homes for sale in Pasadena including homes, condos and townhomes that have been on the market for over 100 days. Are all of these great deals? Not necessarily. BUT, the seller has been actively marketing their homes for a very long time and is probably ready to deal.

Why are these homes on the market still? The most likely reason is that they were overpriced to begin with. The first few weeks of marketing a home for sale are the most critical weeks for any seller. If the property is overpriced, or not marketed correctly, it gets stale. Local real estate agents ignore these homes and avoid showing them to their buyers. Potential home buyers look these homes up on the internet, but wonder what is wrong with these homes since they didn't sell.

My take on this is, if you are looking for a deal, these homes are the best place to start. Why? Home sellers are tired of showing their homes and most are ready to NEGOTIATE their price and SELL!

For a complete list of dusty deals for November - homes for sale in Arcadia, Alhambra, Altadena, Burbank, Eagle Rock, Highland Park, La Canada Flintridge, Monrovia and Monterey Hills, please visit - Dusty Deals for November 2008.   With the inventory of homes being at a record high, you'll need to scroll down to find the city that you're interested in.  It's a very long post.

If there's a particular city that you're interested in getting a list for, please leave a comment and I'll make sure that I include it in future posts.

So here's a list of homes for sale in San Marino California that have been on the market for over 100 days:

As you're going through the list, please look at the last column titled DOM (Days on the Market). This will tell you how many days these homes have been on the market.

READ MORE:

Dusty Deals list for September 08 - Pasadena, San Marino, Alhambra, Altadena, South Pasadena, Arcadia, Monrovia, Sierra Madre, Monrovia

Dusty Deals List for August 08 - Pasadena, Alhambra, South Pasadena, Monterey Hills, Altadena, Sierra Madre, Arcadia, Monrovia and San Marino

As you're going through the list, please look at the last column titled DOM (Days on the Market). This will tell you how many days these homes have been on the market.

Are you looking to buy a home in San Marino California? We are happy to give you all the information that might help you with your home purchase.  Please call us at   626-204-3340   or email Irina at Irina@Irina4RealEstate.com.

As a real estate agent working in and around Pasadena California, I am constantly getting phone calls from buyers looking for great deals and information on the latest real estate prices.

If you are looking for a real estate deal, you came to the right place. I will be posting my "Dusty Deals" by area on a monthly basis right here for your review.

What is a "Dusty Deal" list? It is a list of homes for sale in Pasadena including homes, condos and townhomes that have been on the market for over 100 days. Are all of these great deals? Not necessarily. BUT, the seller has been actively marketing their homes for a very long time and is probably ready to deal.

Why are these homes on the market still? The most likely reason is that they were overpriced to begin with. The first few weeks of marketing a home for sale are the most critical weeks for any seller. If the property is overpriced, or not marketed correctly, it gets stale. Local real estate agents ignore these homes and avoid showing them to their buyers. Potential home buyers look these homes up on the internet, but wonder what is wrong with these homes since they didn't sell.

My take on this is, if you are looking for a deal, these homes are the best place to start. Why? Home sellers are tired of showing their homes and most are ready to NEGOTIATE their price and SELL!

For a complete list of dusty deals for November - homes for sale in Arcadia, Alhambra, Altadena, Burbank, Eagle Rock, Highland Park, La Canada Flintridge, Monrovia and Monterey Hills, please visit - Dusty Deals for November 2008.   With the inventory of homes being at a record high, you'll need to scroll down to find the city that you're interested in.  It's a very long post.

If there's a particular city that you're interested in getting a list for, please leave a comment and I'll make sure that I include it in future posts.

So here's a list of homes for sale in South Pasadena California that have been on the market for over 100 days:

Dusty Deals list for September 08 - Pasadena, San Marino, Alhambra, Altadena, South Pasadena, Arcadia, Monrovia, Sierra Madre, Monrovia

Dusty Deals List for August 08 - Pasadena, Alhambra, South Pasadena, Monterey Hills, Altadena, Sierra Madre, Arcadia, Monrovia and San Marino

As you're going through the list, please look at the last column titled DOM (Days on the Market). This will tell you how many days these homes have been on the market.

Are you looking to buy a home in South Pasadena California? We are happy to give you all the information that might help you with your home purchase.  Please call us at  626-204-3340  or email Irina at Irina@Irina4RealEstate.com.

As a real estate agent working in and around Pasadena California, I am constantly getting phone calls from buyers looking for great deals and information on the latest real estate prices.

If you are looking for a real estate deal, you came to the right place. I will be posting my "Dusty Deals" by area on a monthly basis right here for your review.

What is a "Dusty Deal" list? It is a list of homes for sale in Pasadena including homes, condos and townhomes that have been on the market for over 100 days. Are all of these great deals? Not necessarily. BUT, the seller has been actively marketing their homes for a very long time and is probably ready to deal.

Why are these homes on the market still? The most likely reason is that they were overpriced to begin with. The first few weeks of marketing a home for sale are the most critical weeks for any seller. If the property is overpriced, or not marketed correctly, it gets stale. Local real estate agents ignore these homes and avoid showing them to their buyers. Potential home buyers look these homes up on the internet, but wonder what is wrong with these homes since they didn't sell.

My take on this is, if you are looking for a deal, these homes are the best place to start. Why? Home sellers are tired of showing their homes and most are ready to NEGOTIATE their price and SELL!

For a complete list of dusty deals for November - homes for sale in Arcadia, Alhambra, Altadena, Burbank, Eagle Rock, Highland Park, La Canada Flintridge, Monrovia and Monterey Hills, please visit - Dusty Deals for November 2008.   With the inventory of homes being at a record high, you'll need to scroll down to find the city that you're interested in.  It's a very long post.

If there's a particular city that you're interested in getting a list for, please leave a comment and I'll make sure that I include it in future posts.

So here's a list of homes for sale in Pasadena California that have been on the market for over 100 days:

Dusty Deals list for September 08 - Pasadena, San Marino, Alhambra, Altadena, South Pasadena, Arcadia, Monrovia, Sierra Madre, Monrovia

Dusty Deals List for August 08 - Pasadena, Alhambra, South Pasadena, Monterey Hills, Altadena, Sierra Madre, Arcadia, Monrovia and San Marino

As you're going through the list, please look at the last column titled DOM (Days on the Market). This will tell you how many days these homes have been on the market.

Are you looking to buy a home in Pasadena California? We are happy to give you all the information that might help you with your home purchase.  Please call us at   626-204-3340  or email Irina at Irina@Irina4RealEstate.com.

Over the last few months, Pasadena home buyers have been learning about short sales. A short sale simply means that a bank is willing to accept less money than what the owner owes on his or her home because the property can not sell at a price high enough to cover the mortgage and selling expenses fully. In essence, an owner is "upside down" on their property.

Short sales create an opportunity for Pasadena home buyers to get a potential deal on the home of their dreams. Short sales are not the easiest sales to pull together and it takes a real estate agent with experience, excellent negotiating skills, and perseverance to work with the banks. I say banks, because in most cases, there are several banks involved in the transaction since the home sellers usually have more than one loan on their property.

Short sales also take a lot of patience on the buyer's side. They have a tendency to drag on, sometimes for months. But, having said that, we can not ignore the fact that they present potential opportunities.

Here's a list of short sales in Pasadena and surrounding cities for your review. Feel free to call me at 626-627-7107 or email me at Irina@Irina4RealEstate.com for more information or to set up an appointment for a private showing.

Also, feel free to search the multiple listing service at your convenience. This home search service allows you to create your own account where you can create multiple home and condo searches for Pasadena, San Marino and other areas. As new home listings become available, you will be notified via email automatically. This way, you will always have the most current and latest home inventory information.

I just came back from voting today. My polling place was at the Fellowship Hall in the San Marino Community Church. There were no lines and the process was very organized. The setting of the San Marino Community Church was beautiful so I thought that I'd capture some of these moments on film.

Starbucks and Sierra Cup in Monrovia are giving away free cups of coffee to voters and Ben & Jerry's is giving away free ice cream. So, go out, vote and celebrate with coffee and yummy ice cream!

Want to learn more about San Marino California, visit our San Marino City Guide page!

I have been getting multiple calls and emails from Pasadena Real Estate blog readers asking me to post a list of foreclosure properties, also known as Real Estate Owned (REO) propertiesin Pasadena and surrounding cities.

If you are interested in additional information on any of these homes or would like to set up an appointment to discuss buying a bank owned property, please give me a call at 626-204-3340 or email me at irina@irina4realestate.com

Also, feel free to search the multiple listing service at your convenience. This home search service allows you to create your own account where you can create multiple home and condo searches for Pasadena, San Marino and other areas. As new home listings become available, you will be notified via email automatically. This way, you will always have the most current and latest home inventory information.

Over the last couple of days, I've been taking long walks around Pasadena and San Marino and looking at all the amazing decorations that are gracing our beautiful homes.  It's no small feat to put some of these up.  I, for one, am not much for decorating - maybe it's the lack of time or just not enough creativity - I don't know.  My decoration was three huge pumpkins (2 of which unfortunately walked away off of my porch a few days ago) and a door hanger.

This morning, as I'm watching my kids put together their costumes, get the cookies and cups ready for school parties and talk about this evening's activities, I'm reflecting on how commercialized Halloween is getting.  This is not going to be a rant, but out of curiousity, I wanted to look at some Halloween facts as presented by National Retail Federation.

• "This year, the average person plans to spend $66.54 on the holiday, up from $64.82 one year ago. Total Halloween spending for 2008 is estimated to reach $5.77 billion."
•  "This year, consumers will spend an average of $24.17 on Halloween costumes (including costumes for adults, children, and pets). People will also be buying candy ($20.39 on average), decorations ($18.25) and greeting cards ($3.73)."
• National Retail Federation estimates that total Halloween spending is expected to reach $5.77 billion
• Halloween remains most popular with young adults, as 18-24 year-olds plan to spend $86.59 on the holiday, the most of any group.

Are folks trying to get away from the economical roller coaster by focusing on Halloween?  Is it because, Halloween falls on a Friday this year, that adults are taking more of an effort in decorating and getting ready to celebrate?

As my social media buddy, Dave Taylor asks - What will Halloween look like 20 years from now?

What are you doing around Pasadena to celebrate Halloween this year?

Whatever you do STAY SAFE and HAVE FUN!!!

• By: Brian Brady
• America's #1 Mortgage Broker

We analyze Pasadena mortgage rates by examining the mortgage-backed securities market and its reaction to economic data and events.  Today, the Federal Reserve cut the Fed Funds rate to an historical low of 1%:

The Fed funds rate target is now 1%, the low