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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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June 26, 2008

Pasadena California - Madison Heights

MADISON HEIGHTS

Pasadena California

Madison Heights

A great neighborhood right next to the South Lake Avenue District. It has a strong neighborhood association and has an annual 4th of July parade and other family oriented activities.

The neighborhood was laid out in the 19th century, and the oldest house still standing dates from 1890. Some of the origins of our street names go back to this era. The most prominent is El Molino Avenue, named for Col. E. J. C. Kewen's El Molino Ranch with its "old mill of the padres."

Euclid Avenue was opened in 1885 by C. M. Skellen who took the name from Euclid Avenue in Cleveland, Ohio. Glenarm Street was named by Thomas Banbury after his wife's hometown in Canada. Los Robles Avenue was named after Governor George Stoneman's ranch which was at the southern extremity of the road. Oakland Avenue originally did not extend south of California. It was named after the City of Oakland and the street was also lined with oak trees. The section of the street in Madison Heights was originally called Eastern Avenue.

The original "Madison Avenue Heights" subdivision consisting of 63 lots was opened in July, 1906. Lots were priced from $1,500 and carried a stipulation that homes to be built should cost at least $3,000.

The Madison Heights neighborhood was largely developed between 1910 and 1917. It consisted of family homes of professional people. A number of architects and contractors who worked in the neighborhood also lived here. Many early residents subdivided their lots to build homes for their grown children. To this day, it's common for multiple generations of a family to own separate homes in the neighborhood.

Read More: Everythng You Wanted to Know about Pasadena Neighborhoods

Allendale Branch Library (1920s)

1130 S. Marengo Ave.

At the southern border of Madison Heights, this adobe structure is currently a Pasadena Public Library branch as well as a school library for Allendale Elementary School. Built as an isolation hospital for patients with infectious diseases, it became a library in 1951.

Heineman-designed House (1911)

885 S El Molino Ave.

Heineman House

This Craftsman home was designed by Arthur S. Heineman.

E.J. Blacker House (1912)

675 S. Madison Ave.

EJ Blacker

You can call this craftsman Pasadena home, a grandbaby of the original Blacker House in Oak Knoll. This one was built a few years later.

Read More: Pasadena's Oak Knoll Neighborhood

READY TO START YOUR PASADENA HOME SEARCH TODAY?


If I can be of any assistance with your Pasadena Real Estate needs, please do not hesitate to email me or call me at (626)629-8439. Thank you!

Interested in more information about Greater Pasadena Area cities, check out our City Guides below:

Alhambra City Guide

Altadena City Guide

Arcadia City Guide

Eagle Rock City Guide

Monterey Hills City Guide

Pasadena City Guide

San Gabriel City Guide

San Marino City Guide

Sierra Madre City Guide

South Pasadena City Guide

And, if you are interested in fun activities to do, take a look at our 365 Things To Do In Pasadena® page.

Thinking of selling your home? Interested in finding out the current market value of your single family home, condo or investment property? Then call Irina Netchaev at (626) 629-8439 to discuss what is happening in today’s Southern California Real Estate Market.

June 26, 2008

It's fun to be famous... if only for one day!

Last week, I shared with you an article by Joanna Beresford who writes a weekly real estate column for Pasadena Weekly.

Joanna and I met last week when she contacted me about another article that she was doing about Pasadena short sales. We took a couple of hours to go out and preview some of the homes for sale and had an opportunity to get to know one another.

So without further ado and with much fanfare, here's this week's Pasadena Weekly's articles on Pasadena Short sales with a few memorable mentions of me. How fun! Enjoy!!!

History in the making

Short sales make owning a home a reality for many

By Joanna Beresford 06/26/2008

Last week's CMA Report listed 20 single-family residences available as short pay properties in the city of Pasadena, more commonly referred to as short sales. Offered at prices ranging from $279,000 to $869,000, most of those homes have been on the market for about 100 days. The newest house on the list was built in 1984; most date from the first half of the last century, and the oldest place was constructed in 1886.

I visited the latter home recently, where I swear, when I put my hands on an original door frame and closed my eyes, I could almost hear the conversations and feel the vibrations of people who've passed through those rooms for the past 122 years. This was a slightly melancholy place. The previous owners have left behind neat piles of clothing, children's toys, even family photos. I studied a picture of a mother and her two handsome boys for a while. They looked very proud and confident. Maybe they're coming back for these belongings, or maybe they had to leave them behind.

Irina Netchaev, a broker with Keller Williams Realty, guided me through several short sale properties. She's great at making lists and she offered me, at the outset of our tour, an overview of the short sale process in list format:

1. Seller contacts a Realtor for help

2. Seller completes a hardship package

3. Short sale application along with hardship
package is submitted to the bank (or banks) for review

4. Bank reviews for completeness, orders valuation and assigns to a negotiator

5. Negotiator begins the initial review and contacts Realtor and homeowner

6. Property valuation performed according to investor guidelines

7. Mortgage insurer and investor approval gained and additional liens negotiated by Realtor

8. Application decision is made and a decision letter mailed.

This list applies to sellers, obviously. Potential buyers should consult a lender and determine what they are comfortable with paying for a home. Buyers can research the market to some extent on their own and then should contact a real estate professional who can help them find the perfect home.

Many agents don't want to bother with short sale properties because, ironically, the process can be LONG and arduous, compared to a more conventional transaction. Netchaev considers it an obligation to present buyers and sellers with all options, so she's become adept at negotiating the ins and outs of the short sale procedure.

"The first question I ask a potential seller is, 'what are you trying to accomplish with this sale?'" says Irina. "And what helps me as the Realtor is education. So many of us aren't trained properly, and I've found it invaluable to me and my clients that I'm familiar with trends, listings, timing, and aspects of the community."

Here's another list and this one I made up all by myself - Five Reasons Why I Admire
Irina Netchaev:

1. She's got the most delicious Russian accent

2. She has a spiffy GPS system in her car

3. She's smart, honest and funny

4. Her husband is a former Russian hockey player and mentor
to hundreds of other athletes (not relevant, maybe, but interesting!)

5. She's pretty and extremely graceful

In 1886 (by the way, the year the oldest short sale house was built), Pasadena incorporated as a city. I've been told that the main reason residents sought incorporation was so they could get rid of the local saloon. In the next decade sewers, paved streets, and electric lighting were installed.

Educational facilities expanded, the Shakespeare Club and Grand Opera House opened, and the Pasadena Street railroad opened.

And here's this house, redolent of all that history, that just needs a little love and refurbishment. The city of Pasadena, like every community, rides the thrilling roller coaster of good times and bad, but certain universal truths prevail: we all want to go home, and somewhere out there is a home for everyone.

Joanna Dehn Beresford is a former teacher, nanny, actress, rock star, farm girl, waitress and clerk. She can be reached at truewrite@yahoo.com

Posted in About Us
June 25, 2008

Pasadena California Condos and Townhomes for Sale between $800K and $900K

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June 25, 2008

Desperate Pasadena Realtor Needs HELP and is Willing to PAY for it!

Okay, I've been struggling with something for a few weeks now and decided that I can't do it alone. So... that's the reason for this post. I need YOUR help!

I have been trying to come up with a catchy term for "stale" home listings.

What is a stale listing? A home listing that has been sitting on the market, in our Pasadena MLS for over 3 months with no takers.

Pasadena home buyers are not interested in these home listings because they're either over priced, not marketed properly by the real estate agent or are just plain overlooked by the Pasadena real estate community for a variety of reasons.

As new homes come up on the Pasadena Real Estate Market, the first few weeks are critical to the successful sale of that home at the best price.

This is the time when most Pasadena Realtors will preview the homes on the Pasadena weekly broker tours. Open Houses will drive a lot of new home buyer traffic during the first weekend or two of the home being placed on the market and on-line marketing is at its strongest with search engines picking up the new home listing.

As time goes by, these in most instances, overpriced homes, sit on the market and lose value day by long day. This offers an amazing opportunity for my Pasadena home buyers to pick up these homes at a great price.

So... getting to the point here... what I would like to do is provide a monthly list of these "stale" homes to my readers and clients. And to do that, I need a catchy name for this list of homes. For example, a real estate agent in San Franciso, Alexander Clark, has come up with a great, catchy name for his list of homes that he calls his StaleFish List.

My creative juices are just not flowing and I'm getting some major writer's block here, so I am hoping you can help me come up with a name that would be perfect for our Pasadena Real Estate Market's stale homes.

If you have a suggestion, please comment below. If I end up using the name you suggest, I will thank you by giving you a $100 gift certificate to your favorite restaurant.

So come one... what are you waiting for? Please help a desperate realtor. :-)

Posted in Dusty Deals
June 25, 2008

Pasadena California - Lower Arroyo Seco & San Rafael

LOWER ARROYO SECO & SAN RAFAEL

In 1940s, the housing shortage in Pasadena led to the development of the San Rafael area and new residences were built that reflected the upper middle class and very wealthy families.

What is a surprise to many is that this residential area used to house the elaborate Busch Gardens which closed its doors in 1937.

This area is quite diverse and is known for its famed "Millionaire Row" condo complexes on Orange Grove, stately estates on Grand Avenue and very rustic and quaint hills of San Rafael.

READ MORE: Everything you wanted to know about Pasadena Neighborhoods

Colorado Street Bridge (1912-1913)

Colorado Street Bridge After the Rain by PasadenaViews(™)

This is one of the most graceful and beautiful bridges in the area. This curving bridge is made out of reinforced concrete. It was restored in the 1990s and spans nearly 1,500 feet. It connects Old Pasadena to the San Rafael Hills and Eagle Rock.

Vista del Arroyo Hotel (1920)

125 S. Grand Avenue.

The federal government acquired this Sylvanus Marston designed resort hotel to use as a military hospital. It is now used as the Ninth Circuit Court of Appeals.

La Casita del Arroyo (1933)

177 S Arroyo Blvd.

La Casita Sign

 

Designed by Myron Hunt at no charge, this structure was built using Arroyo stone and lumber from bicycle tracks built at the Rose Bowl for the 1932 Olympics.La_Casita_del_Arroyo

Batchelder House (1909)

626 S Arroyo Blvd.

 

Ernest Batchelder is a famed artisan known around Pasadena for his beautiful decorative tiles around the fireplaces. These tiles became emblematic of the Arts & Crafts movement. Batchelder's kiln remains in the backyard of this lovely home, and the discerning viewer can see examples of his tile work from the street.

Batchelder House

Wrigley Mansion (1911)

391 S Orange Grove Avenue

 

wrigley mansion

This ornate mansion built for the chewing-gum mogul William Wringley, who controlled the development of Catalina island. It is now home to Pasadena's Tournament of Roses.

Wrigley Mansion side

Church of the Angels (1889)

1100 Avenue 64

 

 

church of the angels

This church was commissioned by the widow of Alexander Campbell-Johnston, the developer of Rancho San Rafael, and designed by the British architect Arthur Edmund Street to memorialize her husband.

church_of_the_angels_side

Pergola House (1910)

1025 S. Arroyo Blvd.

Pergola House

Remnants of Busch Gardens are incorporated into a home built considerably later.

READY TO START YOUR PASADENA HOME SEARCH TODAY? IF SO, CLICK ON THE BUTTON BELOW TO FIND YOUR DREAM HOME:

Find Your Home

Interested in more information about Greater Pasadena Area cities, check out our City Guides below:

Alhambra City Guide

Altadena City Guide

Arcadia City Guide

Eagle Rock City Guide

Monterey Hills City Guide

Pasadena City Guide

San Gabriel City Guide

San Marino City Guide

Sierra Madre City Guide

South Pasadena City Guide

And, if you are interested in fun activities to do, take a look at our 365 Things To Do In Pasadena® page.

Thinking of selling your home? Interested in finding out the current market value of your single family home, condo or investment property? Then call Irina Netchaev at (626) 629-8439 to discuss what is happening in today’s Southern California Real Estate Market.

June 24, 2008

Do you have $52 Million to spare?

Last month, we looked at a $9.3 million luxury estate in San Marino. Today, I wanted to share with you an amazing Pasadena estate that has been on the market for almost two years - actually 645 days.

Why is it taking so long to sell?

Well... it could be the fact that the price tag on this Pasadena beauty is $52,000,000. This begs a question, what can you get for $52,000,000?
Let's see:

1288 Oakland Avenue, Pasadena California
$52 Million Pasadena estate

  • You can throw a really great party and have your guests choose any of the 15 bedrooms should they choose to stay over.
  • There are 19 bathrooms on this property.
  • The breathtaking European-style gardens feature an expansive lawn, topiary sculptures, stained glass domed pavillions, romantic resting areas, secluded pond w/bridge&a serene waterfall, enchanting walkways through bamboo&covered arbors,koi pond, meditation point, fountains, statuaries, water gardens, practice court and an elaborate Grecian-style pool with cascading spa. What a great spot for a wedding!

outside gardens

  • The main floor of this one-of-a-kind estate features a Porte cochere, foyer, library, an office, a gallery, a lounge,an elevator. Of course, the standards like the Living Room, a ballroom, a dining room, Family Room and Kitchen are included. There are two suites on the main level, as well.

outside_gates

  • The upper level includes a gallery, a media room and 8 bedroom suites.
  • The lower level consists of 3 maid's bedrooms, a wine cellar, laundry,exercise room, a massage area, lounge, steam rooms, and indoor pool & spa.

All the above is pretty much in the listing information in the Pasadena MLS service.

But, here's some additional information that you did not know courtesy of LA County Tax Assessor's records.

  • Believe it or not, LA County Tax Assessor considers this Pasadena Estate with over 15 bedrooms to be a Single Family Residence.
  • This home was built in 1991 and last sold in 1997.
  • In August of 1997, this estate was sold for $4,300,043
  • The current owner is paying property taxes on a bit more than $5.7 million dollars.

So the question is, would you like to buy this Pasadena luxury estate? Would you be willing to spend $52,000,000 for the privilege of living there? What would be the first you did upon moving in?

The other high end, luxury estates on the market in Pasadena include:

1060 S. San Rafael Avenue, Pasadena (a Roland Coate design in the Arroyo)

Price Tag: $17,500,000

Read More: Pasadena's Lower Arroyo and San Rafael

2 Oak Knoll Terrace, Pasadena (Oak Knolls Neighborhood - next to the "old" Ritz Carlton)

Price Tag: $19,000,000

Read More: Everything you wanted to know about Oak Knoll

Tea Time at the Ritz

If you are ready to start your dream home search in Pasadena, please email me at Irina@Irina4RealEstate.com or call me at 626-627-7107 .

* Listing information courtesy of Pasadena Foothill Association and Coldwell Banker.

Posted in Pasadena
June 24, 2008

Pasadena California Condos and Townhomes for Sale between $500K to $600K

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June 24, 2008

Pasadena California Condos and Townhomes for Sale between $1.0 and $1.2 million

See all condos and townhomes for sale in Pasadena California in the price range of $1,000,000 to $1,200,000.  The map below will show you geographically where these homes for sale are and you can click on any of the homes for more information.  Below the map, you will find a partial list of all condos and townhomes for sale in that price range.

As always if you need assistance, give us a call at (626)629-8439.

Find Pasadena Luxury Condos for Sale in the Million to $1.2 Million range:


 


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!

June 24, 2008

Pasadena California Condos and Townhomes for Sale over $1.4 million

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June 24, 2008

Pasadena California Condos and Townhomes for Sale under $300K

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