Pasadena Real Estate

Here's the latest and greatest list of properties for sale around Pasadena California.

As a real estate agent working in Pasadena and surrounding cities, 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. Every month, on the Pasadena real estate blog you will find the latest "Dusty Deals™" list broken out by area fro your review.

What is a "Dusty Deal" list? It is a list of homes for sale in and around 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!

By the way, this month's dusty deal list is a lot longer than the previous lists. A sign of economic times - more homes coming up for sale on the market and these homes are taking longer to sell and market.

Pasadena Property Dusty Deals™ for April 2009 - Pasadena real estate homes and condos

Dusty Deals™ list for December 08 - real estate and homes for sale in Pasadena and surrounding cities

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

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

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 that have been on the market for over 100 days - it's a long list so scroll down to the city of interest (in alphabetical order):

Alhambra Real Estate Dusty Deals™ for January 2009:

Read more »

Monterey Hills condos and townhomes are definitely feeling the downturn in the economy.  Only 2 Monterey Hills condos and 1 townhome sold in December.  The listing inventory is very low as well.  Less than a dozen properties are available for sale.  Take a look at the real estate statistics for the last quarter of 2008 below.

Monterey Hills Real Estate Statistics for October 2008 to December 2008:

Search for available Monterey Hills condos and townhomes:

Data taken from ITEC (Pasadena Foothills Association MLS service)

If you are interested in beginning your search for a Monterey Hills condominium or townhouse, please click on the search home link.

For weekly updates on Monterey Hills real estate market activity, please feel free to request market analysis reports with detailed information by clicking here.  These reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

Posted by Irina Netchaev, Monterey Hills Real Estate Agent                 626-627-7107    

If I was a home seller and this was my house, I'd be pretty unhappy with my real estate agent. I don't know about you, but it pains me to look at this home listing's photo. This is the only home photo that is in the Multiple Listing Service.

The description of this home claims that this Arcadia home is a "nice and lovely 2 bedroom". The real estate agent goes on to say that "this property has great opportunity for all types of use" (misspellings corrected by yours truly) and that this Arcadia home has an "additional 2 bedroom and 1 bathroom without permit". What exactly does "all types of use" mean? Real estate is zoned for a specific use. This is residential real estate zoned for a single family residence ONLY! There should be no additional illegal additions and advertised impications that this is okay. YIKES! Now, this Arcadia home seller is in trouble. They are trying to sell this home as a short sale. This means that the home seller owes more money to the bank on this home than what it is worth. They are hoping that this real estate agent will be able to effectively negotiate with the bank or banks (depending on how many loans they have on this property) on their behalf to save their credit worthiness. Would you hire a real estate agent that would market your home for sale like this? Most consumers do more research when they buy a computer or decide to sell their car. It really, really saddens me to see this. What do you think?

READ MORE HOME SELLER ARTICLES:

Pictures are worth a thousand words

Make a first great impression

Formula for selling your home in 30 days or less

Formula for selling your home in 30 days or less - Part II

5 tips for getting more house for your $

Pricing your home to sell in today's real estate market

Is your Realtor using the latest technology to give your home listing an edge?

San Gabriel real estate ended the year on a positive note.  Single Family homes closed at $378 per sq. ft. just a bit higher than the average San Gabriel home sold in 2008 at $362 per square foot. 

The volume of homes sold each month has slowed down in the last quarter to about 10 a month.  In December 11 homes sold.  2008 averaged about 17 homes per month with summer months being the busiest.  Overall inventory for San Gabriel homes is pretty high at 77 homes available.  At December's rate of sales, it will take over 30 weeks to clear this inventory.

San Gabriel condos and townhomes had no movement last month.  Only 1 townhome sold and no condos.  Absorption rate, the number of weeks it will take to sell condos and townhomes is at an all time high.

San Gabriel real estate market statistics for October 2008 through December 2008:

Data taken from ITEC (Pasadena Foothills Association MLS service)

See all homes available for sale in San Gabriel:

For weekly updates on San Gabriel real estate market activity, please feel free to request market analysis reports with detailed information at How is the Market button on this site.  These real-time real estate market reports are gathered and updated by Altos Research and will be emailed to you weekly with my compliments.

Posted by Irina Netchaev, Real Estate Agent

The numbers don't lie and South Pasadena home sellers need to come face to face with the reality that they can not be asking 2007 home prices in December of 2008.  There were only 2 South Pasadena home sales last month and both sold at high $400 per square foot of living space.  A lot of the homes listed in South Pasadena for sale now are in the $500 to $600 per square foot range.  One home is even listed over $700 per sq. ft.

With real estate data so readily available on line to most consumers, expecting South Pasadena home buyers to pay such a premium for a home is pretty unrealistic.

In reviewing the last five years of South Pasadena real estate statistics, 2008 ended on a great note with an average price per sq. ft. for single family homes at $510.  Although the last several months of 2008, the prices have been slipping more in the high $400 range. See for yourself below.

READ MORE:  South Pasadena real estate statistics and analysis for 2003-2008

The inventory of homes is still in the 30 homes per month range, but given the slow down in sales, it will take over a year to sell these homes if the rate of sale remains this low.  December is usually a slower month in real estate overall, so I expect the absorption of homes to increase over the next few months.

The sales of South Pasadena condos and townhomes was pretty consistent in December 2008 compared to previous months.  Since quite a few condos and tonwhomes went under contract and opened escrow in December, we expect to see a higher number of solds in January.  Something to be said for marketing your South Pasadena home in December and not waiting for after the holidays!

South Pasadena Real Estate statistics for October through December 2008:

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

Read More:  November South Pasadena Real Estate Market Report

                  Information about South Pasadena California

Search all South Pasadena properties on the market below:

South Pasadena 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 South Pasadena real estate housing reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

Posted by Irina Netchaev, Pasadena Real Estate Agent.