Pasadena Real Estate

Pasadena California is the place to be!  I get phone calls constantly from home buyers saying that they want to live in Pasadena.  Pasadena California is wonderfully located. It's close to the beach and it's close to the mountains.  Pasadena is minutes from downtown LA.  Pasadena is a walkable city.  It is filled with restaurants specializing in the most delectable cuisines, spectacular museums, boutiques, and coffee houses.

Pasadena has historic and character homes like California bungalow and craftsman.  Homes that literally have been built from a box and still grace our historic and landmark neighborhoods.  Pasadena has tree lined streets.  Pasadena is known for its Rose parade and its Rose Bowl.

No wonder we have so many people relocating to Pasadena!

This post is a compilation of articles that I have written on my various Pasadena real estate websites.  This post will be updated constantly as new information is available to help you buy a Pasadena home.  This is your ultimate Pasadena Real Estate Guide!

SELECTING A PASADENA REAL ESTATE AGENT:

How do you find a great real estate agent?

Here's a fun post with a hilarious video.  I get a kick out of it every time I see it - How to find a great real estate agent.  Don't forget to place those hidden cameras during your Open Houses. :-)

Does your real estate agent utilize the latest technology tools to sell your home and help you buy your home?

The real estate market has changed.  What's the saying?  "Out with the old and in with the new."  Well, it's quite true in many ways.  If you are interviewing for your Pasadena real estate agent, take a look at this post - Is your real estate agent using cutting edge technology?

How do you interview your Pasadena real estate agent?

Every real estate agent market the homes they list a little differently.  What does your real estate agent do for you?

Social Networking and Real Estate - Read about why is it important for your real estate agent to have a major presence on social networks? Get an edge over your competition.

PASADENA REAL ESTATE GUIDE:  HOME BUYER TIPS AND ADVICE

Tips for getting more home for your money - stretch that $.  Read 5 tips for getting more home for your $.

Every industry, real estate included, has its own "rules of the game".  It is important to understand the proper etiquette when you are shopping for a home in Pasadena.

An absolutely "must read" when buying a home - 9 Stupid Things Buyers do to Mess Up their Home Purchase.

Before you apply for your Pasadena home loan, please take a look at FICO Scores and 5 Steps to a Credit Makeover.  This post can save you a lot of money in lower interest rates!

 

PASADENA REAL ESTATE GUIDE: UNDERSTANDING THE HOME BUYING PROCESS

Real estate agents are not the same.  Each agent has their own style and process on how they work with their buyers.  Read What does a buyer's agent do for you to get a pretty good idea on how I work with my home buyer clients.

Okay, so you have an accepted offer, you down payment is lined up... what will you be paying in closing costs?  Read what kind of home closing costs should I expect during escrow?

Did you know that there are two types of closing costs when purchasing a home:  Understand the difference between recurring and non-recurring closing costs.

What are home purchase contingencies?  And, can the escrow be cancelled by a seller?  Yes... read how at Pasadena home sale escrow can be cancelled by a seller.

When you buy a home in Pasadena, it's usual and customary to put a 3% earnest money deposit.  Make sure that you understand how to protect that hard earned money by reading the fastest way to lose your earnest money deposit.

Now that you found your home, what kind of inspections should you be ordering?  A physical home inspection and sewer line inspection at a minimum!

One of the things that home buyers need to decide on while they are in escrow is how to hold title.  Take a look at Property Title Insurance - What is it for and what are your options?

And, then of course,  a critical decision that you will have to make in escrow is How to Hold Title on your home, condo or townhome - 7 Common Ways of Holding Title in California.

Read also:  When NOT to call a Real Estate Agent

 

PASADENA REAL ESTATE GUIDE:  HOME SELLER TIPS AND ADVICE

Selling your home in 30 days or less - a three part home seller series:

Sell Your Home in 30 days - Part 1 - how to prepare your home for sale and price it correctly!

Sell Your Home in 30 days or less - Part 2 - how do you make your home stand out?  Why should a real estate agent show your home vs. your competition?  What differentiates your home from the rest of the avialable inventory?

Did you know that there are power words that will help sell your home?  Really - there are!  Take a look at The Power of words to sell your Pasadena home.

We all love photos.  The more photos the merrier.  When I talk with a potential home buyer, they always want to know if there are any additional photos of a home that they are interested in.  Of course, we're doing so much research on line when thinking of buying a home.  Pictures truly are worth a thousand words!

Marketing your Pasadena property:  Property Brochure - the do's and don'ts.

Ever wondered how real estate agent come up with home prices?  Read Pricing Your Pasadena Home to Sell.

Proper Seller Etiquette?

Seller Bloopers: What not to do when you are selling your home!

MORTGAGE PROCESS AND ADVICE

Your loan rate will be based in part, a large part, on your FICO score, read the article - 5 tips to improve your FICO score.

FORECLOSURE INFORMATION

Steps to a Foreclosure - find out what options are available to you if you are behind on your payments, need a loan modification or are considering a "short sale" or a foreclosure.

Short Sale -It's all about forgiveness! - short sales, overall, are very difficult for both the property buyer and the home seller.  As a home seller going through the short sale process, you need to ensure that there's appropriate forgiveness language included in the acceptance letter from the lender.

Life after Foreclosure or Short Sale - information on what happens to your credit after a lender forecloses on a home or a short sale is negotiated.

PASADENA REAL ESTATE GUIDE:  HOME SEARCH

For property information and specifics, please click on the links below:

Search All Pasadena Homes for sale

Search All Pasadena Condos and Townhomes for sale

Search All Pasadena Bank Owned or Foreclosure property for sale

Search All Income Property for sale in Pasadena California

Search All Pasadena Land for Sale

Click on the Pasadena zip code below for a list of homes (SFR) for sale in tht zip code:

91101

91103

91104

91105

91106

91107

 

PASADENA REAL ESTATE GUIDE:  HOUSING AND STATISTICS INFORMATION

The chart below will show you statistical trends in Pasadena for the last five years, the full report with analysis can be found at Pasadena's Real Estate Housing Analysis and Trends for 2003 through 2008.

2010 Pasadena Real Estate Forecast - see how Pasadena's real estate performed in 2009 and what to expect in 2010

State of the Pasadena housing market - update by Leslie Applton, Chief California Association of Realtors economist; a 2010 Pasadena economic update is here.

 

 

If you are thinking of buying or selling  a Pasadena home, Pasadena condo or townhome, please give us a call for a comprehensive and free consultation.  We can be reached at 626-204-3340.

 

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

(626)629-VIEW (8439)

 

 

 

 

 

http://www.pasadenacarealestatehomes.com/0096D5

South Pasadena's inventory of new homes for sale is on the decline.  With only 9 new homes on the real estate market and 5 condos and townhomes, it's no wonder that this month's Dusty Deals™ list is so minimal.

Dusty Deals™ is a name that I've given to homes for sale that have been marketed for over 100 days.  Are all of these great deals? Not necessarily. BUT, the sellers have 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 or receive property listings from their real estate agents from the Multiple Listing Service, but wonder what is wrong with them 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!

So without further ado, here's the very minimal Dusty Deals™ list for South Pasadena.  Please note that there are no Single Family Homes on the market for over 100 days, only a few South Pasadena condos.

READ MORE:  South Pasadena Dusty Deals^TM for December 2009

Pasadena Dusty Deals™ for December 2009

South Pasadena's Dusty Deals™ for April 2009:

Address	BR	BA	Original Price	Current Price	Price /SqFt	HOA	MLS#
1810 Ramona Ave #26 South Pasadena, CA 91030	2	2	$380,000	$380,000	$292	$432	12114812
1035 Arroyo Verde Rd #D South Pasadena, CA 91030	3	3	$430,000	$430,000	$382	$150	640030215
6221 E Monterey Rd Los Angeles, CA 90042	2	2	$450,000	$450,000	$298	$255	642284967
1130 Huntington Dr #B South Pasadena, CA 91030	2	3	$499,999	$499,999	$348	$170	637791054
1946 Huntington Dr South Pasadena, CA 91030-4959	2	3	$529,800	$529,800	$321	$300	642313552
402 El Centro St #5 South Pasadena 91030-3054	3	3	$592,500	$592,500	$337	$505	642295205

List extracted from the Multiple Listing Service (ITEC)

 

I have previewed a few of these South Pasadena condos over the last few days and have to tell you that they were in terrible shape.  Unkept and not clean, smelly and unpleasant to walk through.  If you can see beyond that, this might be an opportunity.

All South Pasadena homes and condos for sale on the real estate market today:

 

For South Pasadena Property details, please visit South Pasadena homes for sale and South Pasadena conods for sale.

 

If you are thinking of buying a South Pasadena home, South Pasadena condo or townhome, please give us a call for a comprehensive and free consultation. We can be reached at 626-204-3340.

 

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

(626)204-3340

 

 

 

http://www.pasadenacarealestatehomes.com/0096BE

San Marino California is a bit of a "humpty dumpty" - up again and then down again!  What's going on?

Last month, San Marino real estate saw more inventory, but home sales prices and price per square foot dropped to the low $500s.  Of course, this has to do with the fact that there was only 1 sale in the month of March.  Just one home sold in a neighborhood with over 4,400 properties!

I also find it fascinating to see that the median price of San Marino homes in 2009 year to date is way higher, yes... I said higher, than in 2008.  Take a look at the graph below:

 

April is going to be much more telling since there are 9 San Marino homes in escrow right now.  Once these homes officially close escrow, we will see whether or not San Marino's real estate market is in step with Pasadena real estate and South Pasadena real estate.

READ MORE:  Pasadena real estate is on the rebound and South Pasadena Real Estate statistics for March 2009

San Marino is also in the process of voting for Measure E, the parcel tax initiative to support San Marino schools during the California budget crisis.  If you are interested in buying a San Marino home, you might want to learn more about Measure E.

 

READ MORE:  Measure E for Excellence in Education in San Marino schools

San Marino Real Estate statistics for January through March 2009:

Single Family Residence	Jan-09	Feb-09	Mar-09
New Listings	9	13	18
Total Listings	24	30	38
Sales Pending	4	4	9
Homes Sold	3	4	1
Listings Expired	6	1	6
Average Days on the Market	43	126	29
Average Price Per Sq. Ft.	$513	$631	$521
Median Selling Price	$1,780,000	$2,049,000	$1,738,000
Average Selling Price	$1,736,667	$2,147,333	$1,738,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	34.7	32.5	164.7

 

Let's take a look at Altos Research and their analysis of San Marino real estate as of today April 24, 2009:

 

If you are interested to see San Marino homes for sale, all available San Marino properties are shown below:

 

 

To see San Marino property details, please visit San Marino homes for sale.

 

If you are thinking of buying a San Marino home or are interested in looking at neighboring Pasadena property, please give us a call for a comprehensive and free consultation. We can be reached at 626-204-3340.

 

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

(626)204-3340

 

 

 

http://www.pasadenacarealestatehomes.com/0096B2

I was reading Jana Coles post Technology, Yes, but always Verify and it occurred to me how many Pasadena agents still continue to fax over offers when representing their buyers.

When I started my career in real estate, I was taught to always present my buyers offer in person to the Listing Agent.  Unfortunately, over the last several years, with the market in Pasadena, CA going through the roof, many Listing Agents would not allow presentation of the offer in person.  Especially, with multiple offers, where we sometimes get 15 to 20 offers at a time, it would make going through the presentations very time consuming.

Since I represent many sellers in Pasadena and surrounding cities, I have always been amazed by the lack of care that Buyers Agents show to their clients. 

Half the time, an offer would arrive without even a phone call from the agent. 

The other half, the agent would call me, ask most, if not all of the right questions, and then knowing that it is a mutliple offer situation, still submit a very badly and sloppily written offer. 

In any case, this post is not about how to write an offer.  Its about how to SUBMIT an offer.

Now, to me, this is common sensical.  When I represent buyers, I have to ensure that I not only sell my buyers to the seller, but I sell myself to the other agent. 

At a minimum, this is what I would do:

Prior to writing the Offer:

• Call the Listing Agent to introduce myself and ask about the property:  Is the home still available?  Did any offers come in?  When will the offers be reviewed?  What is the seller looking for in terms of escrow length?  Where is the seller going to?  Do they have a new home lined up?  Are there certain providers that the seller and the agent are more comfortable working with or already have a relationship with?  I always ask for any additional information that the Listing Agent thinks I should have.
• Get together with my buyer to strategize on the best way to structure the offer.  Agents, please listen carefully, the offer is NOT ONLY ABOUT THE PRICE!  Terms are very, very important!  How long should the contingency period be?  Escrow period?  Do we need a loan or appraisal contingency?  How do we come up with the price?  How much does my buyer want the property?  THERE ARE SO MANY DIFFERENT WAYS TO MAKE MY BUYERS OFFER STAND OUT FROM THE REST OF THE PACK!

Okay the offer is written, now what?

1. I always recommend for the buyer to write an introduction letter to the seller.  In this letter, the buyer has an opportunity to talk about themselves and why they like and want to live in the house.  REMEMBER, A LOT OF SELLERS ARE ATTACHED TO THEIR HOME.  They have many, many memories there.  They want to have someone buy the home who will continue to love it as they did.  And, if you get a seller that doesnt really care about who the buyer is, the letter will not hurt our position.
2. I write a cover letter to the agent summarizing all the critical terms of the contract:  price, down payment, earnest money deposit, escrow term, contingency periods, providers (escrow, title, home warranty)
3. Attach a well written, PRE-APPROVAL letter from a respected lender.  Make sure that the lender is aware that an offer is being presented.  All good listing agents WILL CALL the lender to ensure the information is accurate and to ask additional questions.
4. I make THREE copies of the contract.  1 copy for the Listing Agent, 1 copy for the Seller and an extra copy for the Transaction Coordinator or assistant.  I usually put a post it note on each copy identifying who its for.
5. I package the offer in a company folder with my business card.  I put my cover letter on top, followed by the buyers letter to the home owner and the preapproval letter.
6. The folder is then placed in an envelope and personally delivered to the listing agent.  Call the agent first
7. If the agent is not available and I had to drop the offer off at the listing agents office, I would call to ensure that the listing agent knows the offer is there waiting for them.

I cant tell you how many times, this simple presentation was able to separate me and my clients from the rest.  I can attribute at least three offers that were accepted over the last four months specifically due to the way they were presented.

Remember our actions speak for themselves.  Take the time to professionally package an offer the way you would want to receive one and GOOD LUCK!

READ MORE: 

Get More House for Your Dollar

Home Buyer Etiquette

9 Stupid Things Buyers do to Mess up their Home Purchase

Pasadena Real Estate Guide

Pasadena City Guide

 

If you are thinking of buying a Pasadena home, Pasadena condo or townhome, please give us a call for a comprehensive and free consultation. We can be reached at 626-204-3340.

 

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

(626)204-3340

 

 

 

 

http://www.pasadenacarealestatehomes.com/00768F

I was just reading Petrea Burchard's post about a Pasadena bungalow that she photographed and was reflecting on the fascination that many of us have over these beautiful bungalows that make Pasadena so special.

What draws us to these homes?  Is it because they were so affordable and yet so beautiful?  Most of the homes in the Bungalow Heaven historic landmark district literally came out of the box.  In the early 1900s, you could buy a bungalow kit from Sears Roebuck if you lived on the East coast or on the West coast from The Ready Cut Bungalow Company.  These bungalow kit homes were priced from as little as $650.  Of course, the owners needed to throw in an extra $150 towards plumbing fixtures and a lot of sweat labor.

Or, is it because a lot of these Pasadena bungalows, also known as, California Bungalows, were built in the early 1900 when the Pasadena population was growing at an enormously fast rate?  Pasadena's Bungalow Heaven saw its population quadruple to 45,000 in 1920 from 10,000 in 1900.

I think that our love for the Pasadena bungalow is simply due to the simplicity and beauty of the bungalows design - kit or no kit.

So what is a Bungalow kit home?

Rosemary Thornton, co-author of the book about kit houses answers:

 

"Kit homes were sold via mail order catalogs and shipped to the wanna-be homeowner in about 10,000 pieces. These complex do-it-yourself kits came with a 75-page instruction book that told you how all those pieces went together. Kit home companies promised that a man "of average abilities" could build his own kit home in about 30-90 days."

 

Can you imagine ordering your home on-line and then having to go through a 75-page manual and 10,000 separate pieces to put it together?  To me, that is a monumental achievement! 

So maybe, it's not only the charm of these Pasadena bungalows that have us enthralled, but the love and strength that it took to build them, to achieve that ultimate dream - a dream of homeownership, that keeps us in awe.

PS The photo above is a home on Holliston Avenue in Historic Highlands.  It is not a kit box house.  I just think it is one of the more beautiful craftsman homes in Pasadena.  I've taken the liberty to post it here.  I will be posting photos of California Bungalow homes in this post later. 

Interested in buying a Pasadena home?  Take a look at the list of available homes below:

 

See Pasadena property details at Pasadena homes for sale.

See all Pasadena foreclosures - real estate owned homes for sale.

http://www.pasadenacarealestatehomes.com/0076BC