Pasadena Real Estate

San Marino and foreclosures are not synonymous.  There were only 2 bank owned homes in San Marino last year.  Well, we have a new one on the market now.

2810 Lombardy Road in San Marino was auctioned off on November 6th 2009 and reverted to Index West LLC when there were no takers.  It is now listed in the Multiple Listing Service for $1,550,000 and is the first San Marino foreclosure for 2010.

This home features 4 bedrooms and 3 baths and is listed by the tax assessor to have 2,839 square feet.  It sits on a 12,000+ sq. ft. lot.  I have not had an opportunity to drive by and take a look at the property, but as soon as I do, I'll post some pictures.

So... how did this foreclosure happen?  What is the story behind this foreclosure home?  Let's take a look here:

September 2005:  Home purchased for $1,220,000.  The home buyers put a 30% down payment and financed the difference with a $854,000 loan.

July 2006:  Home owners took out an equity loan of $150,000

February 2007:  Home owners refinanced their loans to combine into one - $1,000,000 trust deed.

August 2007:  a 2nd loan was obtained for $500,000.

Fast forward to December of 2008:

Notice of Default filed by the Trustee on 12/12/08

Notice of Trustee Sale was filed on 3/23/09

Actual Auction Sales date was on 11/6/2009

It took the bank 2.5 months to actually list the property for sale.  Information on the listing is at the bottom of this post for your review.

In the meantime, let's take a look at how San Marino may be affected by foreclosures in the upcoming months:

There are currently, 3 homes slated to go to auction between now and the end of February and 5 San Marino homes are in pre-foreclosure process with Notices of Default already filed.

Unfortunately, San Marino is also beginning to feel the pain of this market place.  

READ MORE:  Pasadena Foreclosures - What Can We Expect in 2010 

Search all San Marino Homes for Sale here.

Search all Foreclosures here

If you are interested in seeing this home or getting information on upcoming foreclosures in San Marino, give us a call.  If you are a home owner in distress and need help in negotiating with your bank(s), let us know, we might be able to help.

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

(626)629-VIEW(8439)

http://www.pasadenacarealestatehomes.com/00A5BD

 

Check back here often to see all Pasadena real estate foreclosure listings.  This feed is straight from the MLS (Multiple Listing Service) and updates as new Pasadena property foreclosure is available.

For detailed property information, please visit Pasadena foreclosure list - REO for sale.

RELATED POSTS:

Altadena Foreclosures List

Burbank Foreclosure Home List

South Pasadena Foreclosure Home List

 

If you are interested in seeing any of these Pasadena foreclosures, please give us a call, we'll be happy to set up an appointment to show them to you.

 

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

(626)204-3340

 

 

http://www.pasadenacarealestatehomes.com/0097F4

 

Do you remember the commercial?  Where is the beef?  Inventory in South Pasadena is sort of like that especially when it comes to South Pasadena condos and townhomes.

The pendulum is swinging very quickly to a buyer's market in South Pasadena and most of the neighborhoods in and around Pasadena.  Every offer that I have written in the last several weeks encountered a multiple offer situation.  And, when I say multiple offers, I mean multiple offers!  Unfortunately, we're seeing buyers out in force and the minimum number of other home buyers that my clients had to compete against was four, maximum so far this month was 28!  Although, I am happy to say that my buyers did beat out the other 27 and secured the home for themselves - yeah!

South Pasadena for the month of April did have 18 new homes listed, but the inventory is still holding at only 41 available housing units.  Condos and townhomes in South Pasadena are only at 12 available - not much selection. 

We are anxiously waiting for the foreclosure inventory which hopefully will be released by banks shortly.  Keep checking back... real estate market is changing daily.

 

South Pasadena real estate statistics for January 2009 through April 2009:

 

Single Family Residence	Jan-09	Feb-09	Mar-09	Apr-09
New Listings	4	12	9	18
Total Listings	23	31	39	41
Sales Pending	4	8	8	9
Homes Sold	4	3	7	5
Listings Expired	5	2	5	5
Average Days on the Market	40	60	101	56
Average Price Per Sq. Ft.	$430	$468	$493	$496
Average Median Price	$720,000	$776,667	$850,000	$953,000
Average Selling Price	$831,000	$725,000	$987,000	$843,380
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	24.9	44.8	24.1	35.5
Condos and Townhomes	Jan-09	Feb-09	Mar-09	Apr-09
New Listings	2	5	5	1
Total Listings	7	15	17	12
Sales Pending	5	4	1	1
Homes Sold	4	4	1	1
Listings Expired	2	1	1	3
Average Days on the Market	49	119	111	67
Average Price Per Sq. Ft.	$332	$348	$284	$336
Average Median Price	$487,500	$596,750	$170,000	$590,000
Average Selling Price	$472,500	$627,500	$170,000	$590,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	7.6	16.3	73.7	52.0

 

Here's a nice visual of what's going on with South Pasadena prices from Altos Research:

READ MORE: South Pasadena Five Year Real Estate Review

To search for homes in South Pasadena, take a look at the listings below:

 

 

For South Pasadena property details, please visit South Pasadena homes for sale and South Pasadena Condos for Sale.

 

For detailed Monterey Hills property information, please visit Monterey Hills condos for sale.

For weekly updates on South Pasadena real estate market activity, please feel free to request market analysis reports with detailed information by going to "How is the Market" section of this real estate site . These reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

 

 

Read More:

South Pasadena City Guide

Take advantage of the $8,000 tax credit

Considering new construction? Don't miss $100 million tax credit

Property Title Insurance?  Learn all about it!

Pasadena Real Estate Guide

 

If you are thinking of buying a South Pasadena home, South Pasadena condo or townhouse, 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/0097DB

I have been getting multiple calls and emails from Pasadena Real Estate blog readers asking me to post a list of foreclosure properties, also known as Real Estate Owned (REO) propertiesin Pasadena and surrounding cities.

If you are interested in additional information on any of these homes or would like to set up an appointment to discuss buying a bank owned property, please give me a call at 626-204-3340 or email me at irina@irina4realestate.com

Address	BR	BA	Price	$/Sq.Ft	HOA	MLS#	City
2504 Aurora Terrace Alhambra, CA 91803	3	2	$ 489,900	$ 275	$0	22114174	Alhambra
402 S Garfield Ave #12A Alhambra, CA 91801	3	3	$ 367,900	$ 245	$175	22116833	Alhambra
777 E Valley Blvd #145 Alhambra, CA 91801	2	2	$ 360,000	$ 307	$179	12117649	Alhambra
2004 Glen Allen Ln Altadena, CA 91001	4	4	$1,348,000	$ 326	$0	22112236	Altadena
374 W Mariposa St Altadena, CA 91001	3	3	$ 399,900	$ 205	$0	12114605	Altadena
3321 Raymond Ave Altadena, CA 91001	3	1	$ 465,905	$ 314	$0	22115327	Altadena
1028 Morada Pl Altadena, CA 91001	2	1	$ 175,000	$ 292	$0	22115359	Altadena
484 W Terrace St Altadena, CA 91001	3	1	$ 339,900	$ 302	$0	12116426	Altadena
583 W Harriet St Altadena, CA 91001	4	2	$ 294,900	$ 212	$0	12117409	Altadena
3508 Marengo Ave Altadena, CA 91001	4	0	$ 565,000	$ 256	$0	12117607	Altadena
2104 N RAYMOND Ave #5 Altadena, CA 91001-5753	3	3	$ 202,500	$ 169	$165	12117690	Altadena
89 Figueroa Dr Altadena, CA 91001	2	1	$ 270,000	$ 225	$0	12117846	Altadena
4151 Lynd Ave Arcadia, CA 91006	3	3	$ 449,900	$ 278	$0	12116670	Arcadia
2870 Weidermeyer Ave Arcadia, CA 91006	3	3	$ 439,900	$ 251	$0	22117960	Arcadia
800 N Keystone St Burbank, CA 91506	2	1	$ 423,900	$ 570	$0	22116324	Burbank
201 E Angeleno #209 Burbank, CA 91502	2	2	$ 424,900	$ 310	$321	12117015	Burbank
917 E Elmwood Ave Burbank, CA 91501	3	2	$ 529,900	$ 363	$0	12117611	Burbank
1452 N Pass Burbank, CA 91505	2	1	$ 299,900	$ 352	$0	12117837	Burbank
849 N Ford St Burbank, CA 91505-2716	4	3	$ 649,900	$ 260	$0	22117970	Burbank
2020 Norwalk Ave Eagle Rock, CA 90041	2	1	$ 364,900	$ 501	$0	22115600	Eagle Rock
715 Nolden St Los Angeles, CA 90042	2	1	$ 249,900	$ 437	$0	12113337	Highland Park
5114 Abbott Pl Los Angeles, CA 90042	4	2	$ 289,900	$ 184	$0	12113637	Highland Park
1009 N Avenue 50 Los Angeles, CA 90042	3	1	$ 299,900	$ 293	$0	22114283	Highland Park
5030 Hub St Los Angeles, CA 90042	3	2	$ 439,900	$ 228	$0	22115009	Highland Park
5947 Benner St Los Angeles, CA 90042	3	2	$ 299,900	$ 231	$0	22117272	Highland Park
5032 Stratford Rd Los Angeles, CA 90042	2	1	$ 348,000	$ 279	$0	12117532	Highland Park
543 Oleander Dr Los Angeles, CA 90042	2	2	$ 280,000	$ 322	$0	12117799	Highland Park
805 Temple Ter #303 Los Angeles, CA 90042	2	1	$ 289,900	$ 314	$350	12115520	Monterey Hills
796 E Mountain St Pasadena, CA 91104-4550	2	1	$ 259,000	$ 282	$0	12113201	Pasadena (NE)
276 E Elizabeth St Pasadena, CA 91104	3	2	$ 364,900	$ 292	$0	22114586	Pasadena (NE)
3240 Paloma St Pasadena, CA 91107	3	3	$ 639,900	$ 396	$0	22115811	Pasadena (NE)
1510 Creekside Ct #A Pasadena, CA 91107	4	4	$ 544,900	$ 210	$340	12116917	Pasadena (NE)
2458 White St Pasadena, CA 91107	3	1	$ 375,000	$ 389	$0	12117040	Pasadena (NE)
205 S Halstead St Pasadena, CA 91107	2	1	$ 369,900	$ 402	$0	12117386	Pasadena (NE)
920 Palm Ter Pasadena, CA 91104	3	2	$ 489,900	$ 408	$0	22117710	Pasadena (NE)
247 E Mountain St Pasadena, CA 91104-4231	2	1	$ 229,500	$ 314	$0	12100901	Pasadena (NW)
560 W Washington Blvd Pasadena, CA 91103	3	1	$ 230,000	$ 192	$0	22105636	Pasadena (NW)
114 W Montana St Pasadena, CA 91103-1730	2	1	$ 369,900	$ 335	$0	22114957	Pasadena (NW)
554 W Washington Blvd Pasadena, CA 91103	2	1	$ 239,900	$ 298	$0	22117146	Pasadena (NW)
229 Carlton Ave Pasadena, CA 91103-2922	2	1	$ 285,000	$ 372	$0	22117964	Pasadena (NW)
87 E Montana St Pasadena, CA 91103	3	1	$ 269,400	$ 273	$0	12117974	Pasadena (NW)
209 EL NIDO Pasadena, CA 91107	3	2	$ 649,000	$ 446	$0	12116690	Pasadena (SE)
173 S San Marino Ave Pasadena, CA 91107	3	3	$ 514,900	$ 322	$0	22116844	Pasadena (SE)
35 N Raymond Ave #407 Pasadena, CA 91103	2	2	$ 494,900	$ 369	$386	22106522	Pasadena (SW)
808 Manzanita Ave Pasadena, CA 91103	2	1	$ 279,100	$ 230	$0	12117810	Pasadena (SW)
502 E Mission Rd San Gabriel, CA 91776	2	1	$ 339,500	$ 368	$0	22112531	San Gabriel
5564 N Willard Ave San Gabriel, CA 91776	2	1	$ 379,900	$ 496	$0	22114530	San Gabriel
8716 Huntington Dr San Gabriel, CA 91775	2	2	$ 439,900	$ 351	$0	12117029	San Gabriel
390 Foothill Ave Sierra Madre, CA 91024	6	6	$1,119,900	$ 258	$0	22116805	Sierra Madre

Also, feel free to search the multiple listing service at your convenience. This home search service allows you to create your own account where you can create multiple home and condo searches for Pasadena, San Marino and other areas. As new home listings become available, you will be notified via email automatically. This way, you will always have the most current and latest home inventory information.

http://www.pasadenacarealestatehomes.com/0060BD