Pasadena Real Estate - Everything You Ever Wanted to Know About Buying or Selling Your Home in Pasadena!

Greater Pasadena real estate market trends, valuable news about market conditions, including foreclosure information in Pasadena and surrounding cities plus much more.

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Sept. 14, 2009

Monrovia Homes for Sale - List of Foreclosures (REOs) in Monrovia California

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Sept. 12, 2009

Pasadena Homes For Sale - Dusty Deals (TM) List for September 2009

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 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 home seller has been actively marketing their home 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!

Pasadena Condos for Sale and on the Market Over 100 days:

ADDRESS BR BA PRICE $/Sq. Ft. HOA Dues MLS
1115 Cordova St #119 Pasadena, CA 91106 0 1 $149,900 302.83 $273 12124834
300 N El Molino Ave #311 Pasadena, CA 91101 0 1 $179,000 397.78 $343 22120678
736 N Garfield Ave #202 Pasadena, CA 91104 2 2 $189,900 224.47 $220 654566945
695 E Orange Grove Blvd Pasadena, CA 91104 2 2 $199,999 210.53 $160 650948793
2444 E Del Mar Blvd #107 Pasadena, CA 91107-4803 1 1 $237,000 290.09 $332 22119326
372 E Ashtabula St #105 Pasadena, CA 91104-4271 3 2 $249,998 295.16 $310 655017979
1015 N Michillinda Ave #102 Pasadena, CA 91107 2 2 $289,500 294.81 $255 22123060
801 N Garfield Ave #6 Pasadena, CA 91104 3 2 $299,900 196.27 $200 650954903
259 N Holliston Ave #1 Pasadena, CA 91106 2 2 $329,000 323.18 $280 22117527
736 N Garfield Ave #101 Pasadena, CA 91104-4273 3 3 $338,800 298.24 $282 22122668
555 N Holliston Ave #2 Pasadena, CA 91106-1272 2 2 $350,000 384.62 $200 655297136
286 N Madison Ave #106 Pasadena, CA 91101 1 1 $358,000 367.93 $259 22123459
1310 E Orange Grove Blvd #110 Pasadena, CA 91104 2 3 $399,000 297.98 $275 655469838
439 S Catalina Ave #305 Pasadena, CA 91106 2 2 $419,000 368.19 $367 22124399
1138 E Union St #7 Pasadena, CA 91106 2 3 $419,000 377.82 $241 652499879
1044 E Orange Grove Blvd #1 Pasadena, CA 91104 2 2 $439,000 457.29 $310 22115993
1044 E Orange Grove Blvd #2 Pasadena, CA 91104 2 2 $439,000 457.29 $310 22117107
347 Parke St #102 Pasadena, CA 91101 3 3 $449,000 275.63 $160 653146404
120 S Mentor Ave #101 Pasadena, CA 91006 2 2 $449,000 465.29 $293 655468380
130 S Mentor Ave #303 Pasadena, CA 91106 2 2 $459,000 486.23 $291 655468372
1097 Blanche St #124 Pasadena, CA 91106 2 3 $459,000 449.12 $393 22122071
190 Arroyo Ter #208 Pasadena, CA 91103 2 2 $465,000 359.35 $372 22123342
222 S Catalina Ave #6 Pasadena, CA 91106 3 4 $475,000 384.3 $350 654122821
973 E Villa St #3 Pasadena, CA 91106 2 2 $498,000 477.47 $0 655315487
130 S Mentor Ave #102 Pasadena, CA 91106 2 2 $499,000 446.73 $310 655468373
130 S Mentor Ave #103 Pasadena, CA 91106 2 2 $499,000 446.73 $310 655468374
451 S Oakland Ave #4 Pasadena, CA 91101-3374 2 2 $499,000 396.03 $260 654888717
1265 S Orange Grove Blvd #4 Pasadena, CA 91105-3351 2 2 $499,900 301.51 $593 652887304
795 Magnolia Ave #9 Pasadena, CA 91106 2 3 $499,900 388.72 $250 12124973
840 E Green St #221 Pasadena, CA 91101 1 1 $512,500 399.45 $690 655114099
385 S Oakland Ave #206 Pasadena, CA 91101-3324 2 2 $525,000 348.61 $335 654991974
319 S Orange Grove Blvd Pasadena, CA 91105 2 2 $539,000 371.21 $457 22124014
333 S Orange Grove Blvd Pasadena, CA 91105 2 2 $539,000 357.66 $499 22125039
130 S Mentor Ave #205 Pasadena, CA 91106 2 2 $549,000 448.53 $314 655468375
66 N Allen Ave #1 Pasadena, CA 91106 3 3 $549,000 369.45 $298 22125475
120 S Mentor Ave #204 Pasadena, CA 91106 2 3 $559,000 401 $337 655468379
190 Arroyo Ter #203 Pasadena, CA 91103 2 2 $565,000 369.04 $421 22122164
68 N Allen Ave #8 Pasadena, CA 91106 3 3 $568,000 413.99 $290 22120213
125 N Raymond Ave #302 Pasadena, CA 91103 1 2 $570,000 590.06 $394 22124631
840 E Green St #216 Pasadena, CA 91101 2 1 $599,000 492.6 $330 650515418
1000 S Orange Grove Blvd #20 Pasadena, CA 91105 3 2 $599,000 320.32 $0 22122676
2025 Maple Ave Pasadena, CA 91107 4 3 $645,000 263.8 $85 654720063
80 N Raymond Ave #210 Pasadena, CA 91103 2 2 $645,000 465.03 $337 654476622
80 N Raymond Ave #210 Pasadena, CA 91103 2 2 $645,000 465.03 $337 655459435
66 N Allen Ave #3 Pasadena, CA 91106 3 3 $649,000 400.86 $308 22120210
63 Harkness Ave #5a Pasadena, CA 91106 3 3 $650,000 402.73 $299 654857115
1045 S Orange Grove Blvd #6 Pasadena, CA 91105 2 3 $655,000 380.37 $409 22123128
130 S Mentor Ave #304 Pasadena, CA 91106 3 2 $659,000 458.59 $345 655468376
1088 S Marengo Ave #4 Pasadena, CA 91106 3 3 $679,000 435.26 $328 650174714
125 N Raymond Ave #510 Pasadena, CA 91103 1 2 $690,000 598.96 $413 22124975
840 E Green St #417 Pasadena, CA 91101 2 2 $695,000 515.96 $696 22122526
125 N Raymond Ave #408 Pasadena, CA 91103 2 2 $695,000 604.35 $412 22124971
120 S Mentor Ave #102 Pasadena, CA 91106 3 3 $699,000 425.18 $368 655468377
120 S Mentor Ave #203 Pasadena, CA 91106 3 3 $699,000 404.51 $377 655468378
380 S Orange Grove Blvd #5 Pasadena, CA 91105 3 2 $729,000 343.87 $570 22122583
480 S Orange Grove Blvd #15 Pasadena, CA 91105 3 2 $739,000 354.27 $800 22122378
700 E Union St #102 Pasadena, CA 91101-5637 2 3 $795,000 474.34 $568 22103626
125 N Raymond Ave #501 Pasadena, CA 91103 2 3 $795,000 576.09 $436 22124972
44 Arroyo Dr. #102 Pasadena, CA 91105 2 3 $799,000 384.32 $609 22109819
44 Arroyo Dr #202 Pasadena, CA 91105 2 2 $799,000 391.47 $606 22113716
437 S Orange Grove Blvd #3 Pasadena, CA 91105-1723 2 3 $799,000 380.11 $500 22124260
457 S Marengo #2 Pasadena, CA 91101 2 3 $835,000   $384 654284861
1110 Las Riendas Way Pasadena, CA 91107 3 3 $848,000 378.07 $516 22123855
630 S Orange Grove Blvd #2 Pasadena, CA 91105 3 2 $849,500 425.18 $392 22125500
840 E Green St #PH506 Pasadena, CA 91101 2 2 $858,000 507.39 $396 22118792
457 S Marengo Ave #12 Pasadena, CA 91101 3 3 $899,000 548.17 $403 646988525
700 E Union St #106 Pasadena, CA 91101-5637 3 4 $945,000 458.74 $591 22103627
125 N Raymond Ave #411 Pasadena, CA 91103 2 2 $975,000 516.97 $487 22125606
40 Arroyo Dr, #201 Pasadena, CA 91105 2 2 $995,000 414.07 $638 22108707
251 S Orange Grove Blvd #8 Pasadena, CA 91105-1767 2 3 $995,000 415.28 $727 22124830
250 Delacey Ave #204 Pasadena, CA 91105 3 3 $1,055,000 612.3 $612 22125350
80 N Euclid Ave #602-3 Pasadena, CA 91101-1702 2 2 $1,150,000 725.55 $611 22117977
40 Arroyo Dr #202 Pasadena, CA 91105 2 3 $1,325,000 400.67 $719 654462050

Pasadena Homes for Sale Over 100 days on the Market - Dusty Deals™:

ADDRESS BR BA PRICE $/Sq. Ft. MLS
250 Alpine St Pasadena, CA 91106-3602 2 1 $499,000 $376 22103969
360 Glenullen Dr Pasadena, CA 91105-2100 2 2 $549,000 $403 22104045
1384 Sunset Ave Pasadena, CA 91103-2145 2 1 $279,000 $342 22105041
502 Laguna Rd Pasadena, CA 91105 4 6 $2,985,000 $628 22108310
1060 S San Rafael Ave Pasadena, CA 91105 7 10 $9,900,000 $707 22111363
580 Madeline Dr Pasadena, CA 91105 10 9 $2,695,000 $252 22112199
1098 Linda Glen Dr Pasadena, CA 91105 4 5 $2,595,000 $617 22113368
45 Glen Summer Rd Pasadena, CA 91105 4 3 $1,285,000 $440 22113403
18 Grace Ter Pasadena, CA 91105 2 2 $805,000 $404 22113706
2037 Jefferson Dr Pasadena, CA 91104 4 3 $659,000 $290 22117132
673 S Mentor Ave Pasadena, CA 91106 6 5 $1,595,000 $293 22117134
1190 Avenue 64 Pasadena, CA 91105 3 2 $649,000 $372 22117677
80 N Euclid Ave #602-3 Pasadena, CA 91101-1702 2 2 $1,150,000 $726 22117977
1475 San Pasqual St Pasadena, CA 91106 5 8 $7,950,000 $795 22118287
101 W Howard St Pasadena, CA 91103 1 1 $499,900 $746 654775883
1776 Lincoln Pasadena, CA 91103 4 3 $588,888   649901903
2190 Kinneloa Canyon Rd Pasadena, CA 91107 5 6 $2,510,000 $395 653208920
580 Madeline Dr Pasadena, CA 91105-2840 10 9 $2,795,000 $262 654276952
3149 E Green St Pasadena, CA 91107 3 2 $550,000 $402 649080702
494 S Oakland Ave Pasadena, CA 91101 5 2 $992,000 $412 22119633
1836 Lincoln Ave Pasadena, CA 91103-1312 3 2 $449,999 $340 646131943
1190 Linda Vista Ave Pasadena, CA 91103-2362 4 5 $1,798,000 $400 22119512
1125 Lincoln Ave Pasadena, CA 91103-2824 2 1 $279,000 $206 653363699
2 Oak Knoll Ter Pasadena, CA 91106-4534 9 9 $12,000,000 $343 22119944
774 Coniston Rd Pasadena, CA 91103 2 1 $479,500 $429 22119808
1272 La Loma Rd Pasadena, CA 91105 3 2 $1,127,000 $592 22120214
3174 Orlando Rd Pasadena, CA 91107 3 3 $1,349,000 $581 654557017
790 Worcester Ave Pasadena, CA 91104 4 3 $507,000 $308 655315849
948 N Hudson Ave Pasadena, CA 91104 3 2 $499,000 $430 22120347
2075 Pasadena Glen Rd Pasadena, CA 91107 0 2 $485,000   652810187
2075 Pasadena Glen Rd Pasadena, CA 91107 0 0 $485,000   652810188
2056 Rose Villa St Pasadena, CA 91107 2 1 $590,000 $425 22120600
426 California Ter Pasadena, CA 91105 4 4 $1,745,000 $472 22120697
1940 Canyon Close Rd Pasadena, CA 91107 2 2 $775,000 $439 22120916
830 Huntington Cir Pasadena, CA 91106 4 5 $2,175,000 $430 22121225
1623 Hastings Heights Ln Pasadena, CA 91107 5 4 $2,398,000 $470 22121223
3503 Ranch Top Rd Pasadena, CA 91107 5 5 $1,699,000 $358 22121420
1621 N Los Robles Ave Pasadena, CA 91104 6 2 $899,000 $198 22121445
412 N Chester Ave #A Pasadena, CA 91106 3 2 $5,580,000   654160684
395 N Chester Ave #B Pasadena, CA 91106 3 2 $3,900,000   654160685
1809 N Los Robles Ave Pasadena, CA 91104 1 1 $275,000 $593 22121623
1330 Riviera Dr Pasadena, CA 91107 3 2 $710,000 $393 22121697
1738 Asbury Dr Pasadena, CA 91104 3 1 $450,000 $438 22121978
1413 S Marengo Ave Pasadena, CA 91106 3 2 $895,000 $471 12122302
101 S Michigan Ave Pasadena, CA 91106-3118 4 2 $490,000 $362 655375670
627 S Euclid Ave Pasadena, CA 91106 5 5 $1,975,000 $454 22122444
1010 Prospect Blvd Pasadena, CA 91103 5 4 $1,895,000 $445 654949322
1983 N Garfield Ave Pasadena, CA 91104-1035 4 3 $499,000 $243 22122620
884 N Catalina Ave Pasadena, CA 91104 5 2 $590,000 $439 650636977
912 GLEN OAKS Blvd Pasadena, CA 91105 3 4 $1,249,000 $449 22122785
1205 N Summit Ave Pasadena, CA 91103-2657 5 3 $399,900 $169 653400935
1849 Lundy Ave Pasadena, CA 91104 2 1 $265,000 $353 12122881
731 N Marengo Ave Pasadena, CA 91103 5 4 $568,910 $234 653905455
280 W Washington Pasadena, CA 91103 10 4 $445,000 $140 653993656
402-404 N Chester Ave Pasadena, CA 91106 4 2 $399,000 $274 22123050
494 Bradford St Pasadena, CA 91105 5 5 $3,125,000 $672 22123209
362 E Montana St Pasadena, CA 91104 4 3 $485,000 $366 22123217
1190 Linda Vista Ave Pasadena, CA 91103 4 5 $1,798,000 $400 654721051
820 San Rafael Ter Pasadena, CA 91105 4 5 $1,795,000 $506 22123418
596 Tamarac Dr Pasadena, CA 91105-2147 3 3 $889,000 $379 654949091
1492 Old House Rd Pasadena, CA 91107 2 2 $1,499,000 $578 654376778
1241 E Villa St Pasadena, CA 91106 3 2 $439,888 $220 654676966
1004 Linda Glen Dr Pasadena, CA 91105 4 3 $1,349,000 $486 22123715
1151 Kewen Dr Pasadena, CA 91108-1015 4 3 $990,000 $296 22123894
1812 La Loma Rd Pasadena, CA 91105 4 3 $769,000 $363 22123905
1295 Doremus Rd Pasadena, CA 91105 4 2 $959,000 $522 22123922
57 N Wilson Ave Pasadena, CA 91106-2305 3 1 $1,200,000 $760 655467634
2939 Magna Vista St Pasadena, CA 91107-1841 3 2 $749,000 $366 646869632
1000 Hillside Ter Pasadena, CA 91105 2 3 $1,400,000 $578 22124097
356 Douglas Pasadena, CA 91104 3 3 $650,000 $217 655225657
1405 Glengarry Rd Pasadena, CA 91105 4 3 $798,000 $360 655445111
1325 Cresthaven Dr Pasadena, CA 91105 4 2 $929,000 $428 654200140
1627 Poppy Peak Dr Pasadena, CA 91105-2709 4 4 $1,299,000 $383 22124452
744 Canyon Wash Dr Pasadena, CA 91107 3 3 $649,500 $353 653352366
525 S Lotus Ave Pasadena, CA 91107 7 8 $2,488,000 $413 653952063
681 Lincoln Ave Pasadena, CA 91103-2936 3 1 $355,000 $240 654610041
451 S Sierra Bonita Ave Pasadena, CA 91106 3 2 $1,088,000 $487 22124677
1244 Linda Vista Ave Pasadena, CA 91103 2 2 $874,900 $541 22124745
330 N San Rafael Ave Pasadena, CA 91105 4 5 $3,700,000 $841 22124764
988 Buckingham Pl Pasadena, CA 91105 3 5 $3,900,000 $666 22124797
382-384 N Michigan Ave Pasadena, CA 91106 3 2 $599,000 $371 22124794
1029 N Hill Ave Pasadena, CA 91104 4 3 $879,000 $341 652163818
1994 N Los Robles Ave Pasadena, CA 91104 3 2 $649,000 $300 22124842
276 N Allen Ave Pasadena, CA 91106 2 1 $515,000 $620 655470601
1564 Sinaloa Ave Pasadena, CA 91104-2744 2 1 $515,000 $565 655241578
1853 Kinneloa Canyon Rd Pasadena, CA 91107 3 2 $948,000 $515 22124776
1554 Navarro Ave Pasadena, CA 91103 6 5 $599,000 $196 22124910
231 Glen Summer Rd Pasadena, CA 91105 3 3 $1,249,000 $484 22124831
1585 Locust St Pasadena, CA 91106 2 1 $425,000 $453 655459319
333 Manford Way Pasadena, CA 91105 4 3 $1,550,000 $437 12125089
560 Laguna Rd Pasadena, CA 91105 4 4 $1,499,000 $452 22125094
1484 N Chester Ave Pasadena, CA 91104 4 3 $649,000 $249 22125110
3735 E Sierra Madre Blvd Pasadena, CA 91107 3 2 $750,000 $389 22125120
110 S Sunnyslope Ave Pasadena, CA 91770 3 3 $639,200 $355 654949696
847 Eaton Dr Pasadena, CA 91107 3 2 $880,000 $369 22125307
250 Delacey Ave #204 Pasadena, CA 91105 3 3 $1,055,000 $612 22125350
1411 N Los Robles Ave Pasadena, CA 91104 6 5 $1,199,900 $299 655468005
1071 E Woodbury Rd Pasadena, CA 91104 4 3 $989,000 $406 22125496
160 California Ter Pasadena, CA 91105 4 6 $1,750,000 $404 22125383
336 S Los Robles Ave Pasadena, CA 91101 7 2 $925,000 $330 654912400
1725 N Summit Ave Pasadena, CA 91103 3 2 $349,000 $300 22125622
1159 N Chester Ave Pasadena, CA 91104 3 2 $649,000 $386 22125714
608 Vallombrosa Dr Pasadena, CA 91107-5423 6 6 $2,695,000 $421 22122780
286 N Allen Ave Pasadena, CA 91106 2 1 $515,000 $620 655471047

List of all Pasadena homes for sale in the Multiple Listing Service:

 

READ MORE:  Pasadena real estate update 2012 – see luxury home sales.


Irina is a Top Realtor and the founder and President of Pasadena Views Real Estate Team™. She is available to assist you in all of your Real Estate transactions. Email or call her today at (626)629-8439.

Are you relocating to Pasadena?  If so, take a look at our 365 Things To Do In Pasadena® .  Call us at 626-629-8439 to schedule a time for your free home buyer or home seller consultation!

Read More:

Getting More House for your $

9 Stupid Things Buyers do to mess up their home purchase

The fastest way to lose your earnest money deposit

Pasadena Real Estate Guide

Real Estate Market Reports for August 2009

Pasadena Real Estate and Home Sales Report for 2003 to 2008

Homes for Sale Information:

Altadena Foreclosures List

Burbank Foreclosure Home List

South Pasadena Foreclosure Home List

Pasadena Condos for Sale - New Construction Developments and Condos

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

Pasadena, California

 

Posted in Dusty Deals, Pasadena
Sept. 6, 2009

Real Estate Market Trends for Pasadena California - August 2009 Home Sales Report

There's nothing like a visual representation as to what is going on in Pasadena's real estate market. The trends are easier to spot, especially when reviewing long term data. The graph below is for the period of 14 months. It's interesting to note that May of this year showed a significant turn around in the prices of homes sold at $770,000 on average, almost the same as last year in August.

When reviewing real estate data, always keep in mind that the housing statistics for a particular month show data that is a few months old. For example, if we are looking at a Pasadena home sale that sold in July of 2009, same house probably was listed for sale sometime in April or May, received an offer and was in an escrow period of 30 to 45 days.

 

Pasadena Real Estate Home Sales Statistics for June 2009 through August 2009:

As the summer comes to an end, we're seeing less housing inventory coming on the market from the high of 93 new home listings in June to 56 in August. Number of home sales decreased by about 20% from July to August, but the price per square foot held as well as the average house selling price increased to $779,146.

Overall, I'm seeing a lot of buyers in the $400,000 to 600,000 price range that are looking for Pasadena houses. As a home comes up that is well priced, multiple buyers bid and multiple situations are quite common.

 

Single Family Residence Jun-09 Jul-09 Aug-09
New Listings 93 59 56
Total Listings 313 276 257
Sales Pending 111 111 91
Homes Sold 68 101 80
Listings Expired 31 22 20
Average Days on the Market 193 65 75
Average Price Per Sq. Ft. $408 $376 $374
Average Selling Price $881,754 $712,909 $779,146
Median Selling Price $660,000 $599,000 $645,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 19.9 11.8 13.9
       
Condos Jun-09 Jul-09 Aug-09
New Listings 38 48 50
Total Listings 152 168 171
Sales Pending 44 51 50
Homes Sold 39 34 28
Listings Expired 29 18 24
Average Days on the Market 155 91 91
Average Price Per Sq. Ft. $330 $339 $360
Average Selling Price $420,436 $462,626 $457,211
Median Selling Price $430,000 $459,000 $448,500
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 16.9 21.4 26.5

Data above is from the Pasadena Multiple Listing Service (ITEC).

The graph below shows that Pasadena's house inventory is moving towards a seller's market. A buyer's market is when there is 6 months of inventory or more. Anythign under 6 months is in the seller's market category.

For specific Pasadena property details, feel free to search all Pasadena homes for sale and all Pasadena condos and townhomes for sale.

Many home buyers are looking for deals and are curious to see if there are any foreclosures available for sale in Pasadena. Foreclosure propertie are actually REO or real estate owned. Quite simply, these are homes, condos or townhomes owned by banks and sold at a lower price.

A list of all Pasadena foreclosures for sale below:

 

READ MORE:  Pasadena real estate update 2012 – see luxury home sales.


Irina is a Top Realtor and the founder and President of Pasadena Views Real Estate Team™. She is available to assist you in all of your Real Estate transactions. Email or call her today at (626)629-8439.

Are you relocating to Pasadena?  If so, take a look at our 365 Things To Do In Pasadena® .  Call us at 626-629-8439 to schedule a time for your free home buyer or home seller consultation!

To see all foreclosure property details, click on Search all Foreclosures in Pasadena.

Read More:

Getting More House for your $

9 Stupid Things Buyers do to mess up their home purchase

The fastest way to lose your earnest money deposit

Pasadena Real Estate Guide

Real Estate Market Reports for July 2009

 

Homes for Sale Information:

 

Altadena Foreclosures List

Burbank Foreclosure Home List

South Pasadena Foreclosure Home List

If you are thinking of buying or selling your home, condo or townhome, please give us a call for a comprehensive and free consultation. We can be reached at 626-629-8439.

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

Sept. 3, 2009

Pasadena Home Buyers: Your Escrow is in Danger of NOT Closing due to Station Fire

With Station Fire burning for the last week or so, home insurance carriers are taking a strong stand when it comes to providing fire insurance to Pasadena home buyers.

Station Fire Action

A United States Forest Service air tanker drops fire retardant next to a line of fire as the Station fire burns in the hills above a home in Acton last night (AP Photo/Dan Steinberg)

One of the conditions of getting a home loan is to provide evidence of fire insurance. Certain insurance carriers have advised home buyers that they are no longer writing insurance policies in certain zip codes until the Station Fire is out.

If you found a home and are currently in escrow with an anticipated closing date over the next few weeks, your closing might be affected. I currently have several home buyers in this situation. One of my buyers, who is buying a house in La Crescenta which is closer to the fire, was able to get the carrier to issue a home policy by increasing their deductable temporarily. Once the Station Fire is over, they will lower the deductible to the original policy agreement.

Another one of my home buyers, who is buying in the San Rafael hills of Pasadena, has been told that the entire zip code is not eligible for new insurance policies. Even though, this home is totally away from the fire zone and has not even come close to being evacuated.

So, if you are buying a home in Pasadena, La Crescenta, La Canada, Glendale and other fire affected cities, please contact your insurance carrier immediately to ensure that you will be able to get fire hazard policy and your home closing will not be affected.

Read More:

The fastest way to lose your earnest money deposit

9 Stupid Things Buyers do to Mess Up their House Purchase

Save Thousands of $s with Home Inspections

Pasadena Real Estate Guide

Aug. 28, 2009

Pasadena Home Owners and Borrowers - PMI Can be Deducted!

PMI stands for Private Mortgage Insurance. This is an insurance that protects lenders against potential borrower defaults and is usually a requirement for any home loans where the home buyer puts less than 20% down.

Historically, PMI was one of those real estate expenses that could not be deducted, but congress has allowed certain home borrowers to deduct the PMI expense.

But to qualify for the deduction you must have bought or refinanced your home since Jan. 1, 2007. This deduction is only available for PMI premiums paid on the original loan for a property acquired or refinanced between 2007 and 2010 and may be deducted as mortgage interest. Any prepaid mortgage interest must be deducted evenly over 84 months and, therefore, can't all be deducted in the year of payment.

Families with adjusted gross incomes of up to $100,000 can deduct 100% of their insurance premiums, much the same as they deduct property taxes. The deduction is then phased out up to an adjusted gross income of $110,000.

How much is PMI? The annual premiums run about 0.5% to 0.75% of the outstanding balance, $500 to $750 a year for every $100,000 you owe.

So if you purchased your home, condo or townhouse in 2007 or later, do not forget to take advantage of this nice tax deduction if you qualify.

Read More:

Pasadena Real Estate Guide

Real Estate Market Report for Pasadena and surrounding cities

 

If you are thinking of buying a Pasadena home, Pasadena condo or town home, please give us a call for a comprehensive and free consultation. We can be reached at 626-629-8439.

IRINA NETCHAEV & ASSOCIATES

Pasadena Views Real Estate Team

Pasadena Real Estate Agents

Pasadena, California

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Aug. 28, 2009

Search Arcadia homes for sale in 91007 - Arcadia real estate

Looking for Arcadia homes for sales in the 91007 zip code?

The list below will update automatically with all the listings of the homes for sale in Arcadia.  Feel free to bookmark this post and come back often.  Or, better yet, register for a free home search account that will give you access to all homes, condos, townhomes and income real estate in Arcadia and throughout most of Southern California.

Arcadia homes for sale in 91007 zip code

See all available homes for sale in Arcadia

 

Posted in Arcadia, Homes For Sale
Aug. 28, 2009

Pasadena Luxury Homes for Sale - Pasadena CA Real Estate over $1.5 Million

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Aug. 27, 2009

Search Arcadia CA condos and townhouses for sale including foreclosures and REOs in 91007

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Posted in Arcadia, Homes For Sale
Aug. 27, 2009

Arcadia homes for sale - 91006 - Search all houses in Arcadia California Real Estate

[idx-listings zip="91006" propertytypes="516" orderby="DateAdded" orderdir="DESC" count="100" showlargerphotos="true"]

Posted in Arcadia, Homes For Sale
Aug. 27, 2009

Search all Arcadia California condos and town houses for sale in 91006 zip code

[idx-listings zip="91006" propertytypes="511,512" orderby="DateAdded" orderdir="DESC" count="100" showlargerphotos="true"]

Posted in Arcadia, Homes For Sale