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. 16, 2011

Roland Coate Designed Estate in San Marino - 1260 Shenandoah

Spectacular!  What an absolutely spectacular estate perched at the top of Shenandoah in the hills of San Marino!  Built in 1926 and designed by one of the great architects of the 20th century, Roland Coate, this San Marino gem is something to behold.  Reminiscent of the stately manors and country houses found in Nantucket Connecticut or New York, this is one grand dames that will retain its charm for many years to come.

Ronald Coate San Marino

Mature oak trees, behind private gates, frame this beautifully landscaped lot - over 1 acre.  Lacy Park is a few minutes away, but truly, it feels like being in your own private oasis with plenty of land to entertain and relax.  You will have your own four-hole putting green, a koi pond with a 90 ft flowing stream, a pool and plenty of space to roam around.

The main house has 4 bedrooms and 6 baths with most of the bedrooms on the second level - each with spectacular views.  No fear though - an elevator offers easy access to the living quarters.  The kitchen retains its original charm with lots of drawers and built ins.  A carriage house has been converted into a gym, spa retreat and a lovely guest house.

It's really one of the loveliest homes I've seen in awhile and it can be yours for $7,530,000.

Co-listed by Sotheby's and Coldwell Banker, listing agents offer us a bit of history:

Originally built for Annie Wilson, the daughter of local pioneer Benjamin D. Wilson after whom Mount Wilson is named, on land owned by George S. Patton.

This home has been on the market, on and off, since May of 2010 and was originally listed for $8,860,000.  The last sale recorded was $5,780,000 in December of 2007, but has been extensively updated since.

If this is in your price range, this home is not to be missed.  So give me a call at 626-629-8439 for more information and a private consultation.

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Sept. 9, 2011

Short Sales - Deficiency Protection Extended

You may have heard about Senate Bill 931 which stated that lenders who have agreed to a short sale would not have the ability to obtain a deficiency judgment against the seller after the short sale was completed. The law applied only to first mortgage loans secured by one to four residential units.

Effective immediately, Senate Bill 458, will extend the same protection to any secondary or junior loans involved in the transaction. This means, after agreeing to the terms of the short sale, secondary or junior lien holders no longer have the right to pursue a deficiency judgment and the seller will no longer be required to owe or pay for a deficiency in a short sale.

Please read:  Senate Bill 458

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.

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Sept. 7, 2011

Pasadena Homes for Sale - $900,000 to $1 Million

Homes for sale in the price range for $900,000 to $1 million in Pasadena, California.

Can be seen by clicking on the button below for full access to the Multiple Listing Service in Pasadena California.


 

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.

Interested in seeing what available for sale? Take a look at the home listings below. The information is updated real-time as new homes are entered into the Multiple listings service:

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.

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Sept. 7, 2011

South West Pasadena MLS Homes for Sale

Homes for sale in South West neighborhood of Pasadena.

Get access to all home listings for sale on the Multiple Listing Service in the Pasadena South West neighborhood by clicking on the button 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.

Interested in seeing what available for sale? Take a look at the home listings below. The information is updated real-time as new homes are entered into the Multiple listings service:

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.

Aug. 27, 2011

Does This Inspire You to Buy This Home?

Real Estate Photos?  Do they inspire you to buy a home?

As a real estate agent, I review new home listings on a daily basis for my existing home buyer clients and to keep track of home inventory in the surrounding Pasadena neighborhoods. I start by looking in is the Multiple Listing Service (MLS).  In reviewing homes, the first thing that captures my attention are the photos that are associated with each home.  My home search and review goes something like this:

  1. Pull up an area like Arcadia California for example.
  2. Put in the price range, I'm interested in.
  3. Get a list of all homes for sale.
  4. Look at the photos
  5. Read the description
  6. Make a decision as to whether or not to show the home.

Does this remind you of something?  If you are a home buyer looking to buy a home, the steps are pretty familiar, right?

So what happens, when you see the following photos?

Arcadia home for saleBad photo of bedroom

 

horrible photo of a bathroom

Take a look at the last photo.  Can you tell what it is?  If you are on a laptop, turn the laptop sideways.  If you are on a desk top, sorry... you'll have to turn your head sideways to figure this one out.  Yes... this is the way the photo has been uploaded to the MLS - sideways!

I don't know about you, but these photos do NOT inspire me.  They do not create any desire for me to get into the car and preview this property for one of my buyers.  And, above all, they speak highly of the professionalism, or lack thereof, of the real estate agent representing this home.  These photos, in fact, are a huge red flag for me in terms of what kind of transaction I would expect in working with a real estate agent like this.

Considering the fact that the majority of home buyers start their search on-line, photographs used to market your home for sale should be exquisite.  They should create emotion and inspire you to quickly set up an appointment to see the home.

So... let me ask you again, do the photos above inspire you to buy this million dollar Arcadia home?  Would you list your home for sale with an agent that provides this type of marketing?

For spectacular home marketing and world-class real estate representation, give me a call at (626)629-8439.  Let's chat to see how I can help you sell or buy your next home in the Pasadena area.

Interested in more information about Pasadena and surrounding cities, check out our City Guides below:

Alhambra City Guide

Altadena City Guide

Arcadia 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 in Pasadena, take a look at our 365 Things To Do In Pasadena® page.

Aug. 20, 2011

Selling Your Home? Top 10 Tax Tips per IRS

If you are selling your home, you'll want to understand your tax implications - positive or negative - prior to listing your home for sale.  The first thing that you want to do is to consult with your CPA (Certified Public Accountant) for tax advice.  Next, a consultation with a real estate agent selling homes in your neighborhood is essential to find out the market value of that home and to understand what you need to do to prepare your home for sale.

On August 8th, 2011, IRS released the newly updated 10 Tax Tips for Individuals Selling Their Homes which you can find on the IRS Summertime Tax Tip 2011-15.

Here are the selling tips from the IRS to keep in mind:

  1. In general, you are eligible to exclude the gain from income if you have owned and used your home as your main home for two years out of the five years prior to the date of its sale.
  2. If you have a gain from the sale of your main home, you may be able to exclude up to $250,000 of the gain from your income ($500,000 on a joint return in most cases).
  3. You are not eligible for the exclusion if you excluded the gain from the sale of another home during the two-year period prior to the sale of your home.
  4. If you can exclude all of the gain, you do not need to report the sale on your tax return.
  5. If you have a gain that cannot be excluded, it is taxable. You must report it on Form 1040, Schedule D, Capital Gains and Losses.
  6. You cannot deduct a loss from the sale of your main home.
  7. Worksheets are included in Publication 523, Selling Your Home, to help you figure the adjusted basis of the home you sold, the gain (or loss) on the sale, and the gain that you can exclude.
  8. If you have more than one home, you can exclude a gain only from the sale of your main home. You must pay tax on the gain from selling any other home. If you have two homes and live in both of them, your main home is ordinarily the one you live in most of the time.
  9. If you received the first-time homebuyer credit and within 36 months of the date of purchase, the property is no longer used as your principal residence, you are required to repay the credit. Repayment of the full credit is due with the income tax return for the year the home ceased to be your principal residence, using Form 5405, First-Time Homebuyer Credit and Repayment of the Credit. The full amount of the credit is reflected as additional tax on that year’s tax return.
  10. When you move, be sure to update your address with the IRS and the U.S. Postal Service to ensure you receive refunds or correspondence from the IRS. Use Form 8822, Change of Address, to notify the IRS of your address change.

Please note that this article is not meant to offer legal or tax advice and that you should consult your accountant for specific tax advice. When it comes time to sell your Pasadena area home and you need a real estate consultation, give us a call at 626-629-8439 for a free and private analysis of your house's worth, real estate market conditions and the suggested marketing plan.

READ MORE:  Pasadena California Real Estate Guide

Aug. 14, 2011

South Pasadena House Pick

As I was previewing South Pasadena homes that were just listed for sale, I came across this little gem.  Located at 1102 Foothill Street, it is a perfect condo alternative in one of the cutest South Pasadena neighborhoods.

This contemporary house is in move-in ready condition with large windows letting in the sun and showcasing nicely landscaped small but very functional back yard.  Home sellers obviously love water fountains and have incorporated them around the house.  These water features add to the tranquility and peace of the area.

South Pasadena home for sale

Perfect for entertaining with a large kitchen that opens into a living/family room and leads outside.

beautiful modern kitchen - South Pasadena Home for Sale

There's a two-car garage which is attached to the house.  Overall, just a pleasure to tour and a wonderful starter home for anyone looking to minimize yard work and get in to a wonderful South Pasadena school district.

2-car garage

front yard

Home Details:

Offered at $729,000

Bedrooms:  3

Bathrooms:  1.75

Fireplace, washer & dryer area, central air and heat, fireplace, stainless steel appliances, hardwood floors.

Offered by John Aaroe Group.

If you're interested in seeing this South Pasadena home, please call Irina at (626)629-8439 to schedule a free home buyers consultation and a showing appointment.  For more information about South Pasadena, please visit our South Pasadena City Guide.

 


Interested in seeing what South Pasadena homes are available for sale? Click on the home search button below to search for full access to the Multiple Listing Service. 

 


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.

 

Aug. 14, 2011

Pasadena Back To School Calendar

Pasadena families are getting ready for another school year. If you are new to the area and not sure which school your kids will be attending, the first place to look would be at the handy-dandy school locator:

Pasadena School Locator

Once the school is identified and registration process taken care of, here are some critical dates that all parents want to know:

First day of school is August 29th, 2011
Winter Holiday is December 23 through January 6th
Spring Break is April 2nd through April 6th

PUSD is quite a large public school district. You can see all the schools including alternative and charter on our PasadenaViews site.

Posted in Pasadena
July 19, 2011

Luxury Home Buyers: High Balance Loan Limits are Expiring!

Are you in the market for a luxury home in the Greater Pasadena area?  If so, you need to be aware that effective September 30th of 2011, High Balance Loan Limits that have been in effect for awhile now will expire.

What does this mean for you? It means that you will have to get a JUMBO loan to finance your new home.  This means higher interest rates and tighter qualifying guidelines.

My personal lender, Mondie Pic'l, says the following:

Luxury home buyers that were previously elgibile for the high loan limits will now have to qualify using Jumbo product guidelines and rates. This will typically mean a higher rate, at least a 20% down payment and tougher qualifying criteria. The biggest issue with the Jumbo loans offered is that they require the home buyer to have large reserves in the bank after closing over and above the cost to purchase their home. In addition to needing more for a down payment (lower loan to value) they will have to have more overall asset verified to meet the reserve requirements. Some lenders are requiring as much as a 10%of the loan amount in reserve with all the funds being liquid (no retirement asset used).

New loan limits have been published and for our local counties they are as follows:

Los Angeles                        $625,500
Orange                                 $675,500
San Bernardino                 $417,000
Riverside                             $417,000
Ventura                               $598,000
San Diego                            $546,250

The conventional conforming limits will remain the same at $417,000.

Let's take a look at average sales home prices for June of 2011:

As you can see an average priced home in the neighborhoods above, will easily put you in the $800,000 price range.  Let's take a look at the example below of what it means to finance an $800,000 home today:

$800,000              Purchase Price
$640,000              Loan Amount
$160,000              Down Payment
$ 64,000                Liquid Reserve Required
$224,000              Liquid Asset required to qualify (checking, savings, stocks, bonds)

Jumbo guidelines will vary greatly from lender to lender as these are private investors who each set their own qualifying criteria. It will be important for homr buyers to shop around when applying for these loans to make sure they find a lender whose guidelines fit their financial profile.

So, if you are looking for a home in the $650,000 price range or above, you will be better off financially to find it and close escrow by end of September.

Remember that 1% rise in interest rates means 10% decline in affordabililty!

Questions?  Call me at (626) 629-8439

Here's a look at some luxury homes for sale right now:

 

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.

July 19, 2011

8 Tips for California Home Sellers BEFORE Listing Your Home For Sale

Are you planning to sell your home in Pasadena, San Marino, Arcadia, South Pasadena, Altadena or surrounding neighborhoods? Here are 8 tips to help you avoid last minute scrambling and get through the home selling process as hassle-free as possible.

Beautiful Home For Sale

  1. Review Construction Permits for Completion - Go to your city's building and planning department and pull permits.  Make sure to review them for final sign-off and completion.  Permits issues have a tendency to creep up on you during the escrow process and may cause your home sale to fall through.  By taking this step, you'll be able to avoid many headaches and reassure the new home buyer and give them peace of mind.
  2. Check your home's square footage with the Los Angeles County Assessor.   The basis of home sales price is always based on the price per square foot.  Now that you know all the permits are signed off on, you want to make sure that the additional square footage is reflected by the Assessor.  Your Realtor® should be able to pull a property profile directly from the Title Company to help you with this.
  3. Order a Pre-Home Inspection - Smart home sellers know to hire a home inspector to do a thorough inspection of the home.  This way, they can take care of many issues up-front and will not get caught off guard during the escrow inspection period.  It's always great to provide a copy of the inspection report to the home buyer.  The inspection will run anywhere between $250 to $500 depending on the size of the house and is well worth the investment.  Read More:  Pasadena Home Sellers save thousands of dollars with home inspections.
  4. Order a Termite Inspection - Contact your Real Estate Agent to order a termite inspection from a reliable, licensed California termite company.  This inspection is FREE of charge if ordered through your Realtor®.  It is standard practice in the Greater Pasadena area for the home seller to pay for Section 1 repairs.  These can be costly at times.  Understanding the costs involved will help you better calculate your net proceeds.  Read More:  Termite Inspection Explained!
  5. Order a Pre-Sale Home Warranty - Your Realtor® is able to order a home warranty for you if you do not have one on your home now.  It is very valuable in case something breaks and needs to be repaired while you are marketing your home for sale or are in escrow.  Large items like air conditioning and plumbing systems are a covered benefit.  There are some limitations of course, but talk about peace of mind.
  6. Do NOT invest money in repairs - Talk with you real estate agent first!  Many times, costly repairs or updates can be avoided.  Your realtor® will be able to guide you in what repairs will give you the most return on your money.
  7. Get a Staging Consultation - Paint, Furniture, Light, Accessories MATTER!  De-cluttering MATTERS!  Home stagers are trained in creating the right environment and eliciting emotion in home buyers.  Buyers buy on emotion especially homes that they "see" themselves living in.  Home Staging results in a quicker sale and the highest possible return on investment.  Read More:  The right paint colors can sell your home!
  8. Curb Appeal - Do not ignore your home's curb appeal.  Do you need to make some changes to your landscaping?  Ensure your grass is green?  Cut back some hedges?  Home buyers make decisions in the first few minutes as they get out of their car or drive by your home.  Read More:  Curb Appeal - Before and After - It's the little things that matter.

Make sure that your Realtor® is involved early.  We get paid for helping to guide you through the process from preparing your home for sale to marketing and through the escrow period.  Take advantage of your real estate agent's expertise.

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 Real Estate Market.

Interested in more information about cities in the Greater Pasadena area, 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 in Pasadena, take a look at our 365 Things To Do In Pasadena® page.