As many of my readers know, I have not been updating this blog on a regular schedule.  It's been an extremely busy summer for me.  My family and I just came back from a two week vacation in Maui.  I have helped 14 families buy or sell a home over the last few months and have 6 open escrows as I write this post. 

I can't tell you how busy and exciting this summer has been.  We have seen the best and the worst in the real estate industry.  Buying and selling homes in Pasadena has been evolving daily.  Let's see:

• Lenders were tight with their money.  Lender conditions were outrageous and ridiculous at times.  Many lenders are slowly, but surely are now moving back to a more balanced view and perspective on helping home buyers get home loans.  The pendulum is slowly shifting to a bit more of a realistic approach to lending. 
• Bank of America went beserk with their take over of Countrywide and screwed up a ton of escrows.  A few of my home buyers got caught in Bank of America's turmoil and no one in management seemed to care or be able to address any issues.  There is only one B of A loan officer that I trust and will not work with any other.  Email me for his name.
• FHA loans with minimal down payment are more and more prevalant and accepted.  I have helped several home buyers buy their Pasadena homes with only 3.5% or 5.1% down.
• Home sales were down and then exploded with multiple offers on any home decently priced.
• Bank foreclosures are here and more are expected.  The last few months have shown that timing is everything when it comes to bank owned or REO homes.
• Short sales are here, but need to go away...  Only 1 in 9 are successful!  Thank you, NOT, non-responsive loss mitigators.
• California came out with a New Construction Credit and ran out of funds almost immediately!
• First time home buyer credit is here for only a few more months.  Yes... all you first time home buyers listen up:  You have to find a home and buy it before November 1st, 2009 to qualify for your $8,000 tax credit.  And, yes... it's an actual credit against what you owe.  Pretty darn good!
• New government regulations came out for the Truth in Lending and HVCC (Home Valuation Code of Conduct)
• Home buyers now need to get pre-approved with at least 2 lenders.  Although, if you are working with me to find your next home, you are most likely approved with 2 direct lenders and a mortgage broker.  Minimum requirements if you are a serious buyer!

I can go on and on... but to not bore you and finish my real estate home sales reports, this month, I will combine the different city home sales reports in one.  Too much guilt on my end for not getting them out timely.  So... here goes...

Pasadena Home, Condo and Townhome Sales and Real Estate Reports:

Read more »

http://www.pasadenacarealestatehomes.com/009B70

San Marino real estate market did not show any drastic changes during the 2nd quarter of 2009.  Number of homes available for sale has remained consistent in the mid 30s.  Although the number of new listings decreased by 27% in June.

The least expensive home on the market in San Marino is priced at $1,180,000 and is located at 1445 S San Gabriel Blvd.

The most expensive San Marino home available for sale is priced at $5,600,000 and is located at 1505 Circle Drive.

The most interesting sale this month was an estate priced at $862.73 per square foot with an asking price of $5,625,000 that sold in 81 days at full price!  This San Marino luxury estate was located at 920 Avondale Road.

Other interesting statistics:

3 San Marino homes sold over asking price

2 San Marino homes were sold at asking price

11 San Marino homes were sold under asking price

On average San Marino homes sold at 96% of asking price.

Real estate statistics for San Marino for April through June 2009:

Data for San Marino real estate was taken from ITEC (Pasadena Foothill Association of Realtors)

Interested in seeing what is currently for sale in San Marino?

Specific information can be found at San Marino homes for sale post which is updated real time.

Interested in seeing more San Marino Real Estate Reports:

San Marino Real Estate report - five years in review 2003-2008

San Marino real estate report for May 2009

San Marino real estate report for March 2009

READ MORE:

San Marino City Guide

South Pasadena City Guide

Altadena Foreclosures List

Burbank Foreclosure Home List

Pasadena Foreclosure Home List

South Pasadena Foreclosure Home List

If you are thinking of buying or selling your San Marino home, 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

San Marino's real estate prices have always been driven by their top rated public schools, a small knit community and close proximity to Pasadena and downtown LA.  As expected, San Marino real estate activity has stayed strong even in the down market and as Pasadena's real estate started picking up, San Marino housing market immedicately followed.

Inventory of homes remained pretty much the same last month, but the sales activity has picked up significantly and so did the price per square foot that home buyers are willing to pay.  Take a look at the data below.

San Marino Real Estate Statistics for February through May 2009:

Search all San Marino homes for sale - live feed from the Multiple Listing Service below:

For more property detail, please visit San Marino Homes for Sale post.

READ MORE:

San Marino City Guide

South Pasadena City Guide

Altadena Foreclosures List

Burbank Foreclosure Home List

Pasadena Foreclosure Home List

South Pasadena Foreclosure Home List

If you are thinking of buying or selling your San Marino home, 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

Check out the 2010 Pasadena Area Fireworks Activities on 365 Things To Do In Pasadena!

UPDATE TO POST FOR San Marino's 4th of July 2009

This year, 4th of July wristbands can be purchased for $20 at the San Marino Recreation Department located at 1560 pasqualito Drive.  Hours are Monday through Friday, June 15th through July 2nd from 8 am to 5 pm.

If you are a San Marino resident, wristbands are available for $5 through Thursday July 2nd.

Please note, I have no more wrist bands left to distribute this year... thanks to all for your emailed requests.

READ MORE:  4th of July firework celebration in Pasadena and surrounding cities!

Lacy Park 2009 - activities for 4th of July!

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Every year, the City of San Marino holds a 4th of July celebration in Lacy Park.  This year, San Marino community is invited to celebrate this family event on Friday July 4th.  

This is an all day event featuring ongoing game booths, bingo from 4 until 7 pm, stage entertainment from 5:30 until 9 pm and of course, the most amazing firewords display in the area (starting at approximately 9 pm.)

The Virginia Road entrance (1485 Virginia Road) to the park will open at 8 am.  No entrance will be allowed via the back park entrance at St. Albans Road until 3 pm.  Guests may reserve areas using blankets, chairs and ropes.  No stakes will be permitted in the ground.

Read also:  The run of the wild - San Marino Tradition

Also, same day the Annual Fourth of July Parade sponsored by the Rotary Club of San Marino will begin at 5 pm.  Young kids on decorated bikes and accompanied by an adult are welcomed and encouraged to participate.  This is a true hometown parade. 

If your child would like to participate, registration is not required.  You can just proceed to the front section of the parade. 

Read also:  2007 preparations for 4th of July parade in San Marino

If you are a resident of San Marino, you can pick up to 10 complimentary wristbands at the San Marino Recreation department starting on Monday June 9th at 8 am. 

If you are not a resident of San Marino, you may purchase wristbands for $10 per person at the San Marino Recreation Department also.  San Marino rec is located at 1560 Pasqualito Drive in San Marino and is open Monday through Thursday from 8 am until 5 pm.

If you purchase the wristband on the day of the event, the cost will be $20 per person.

READ MORE:  4th of July 2008 at Lacy Park

See you on the 4th of July at Lacy Park!

Actually, this year the Showcase House of Design is in San Marino right on the border of Pasadena and just steps from South Lake Avenue Shopping District.  It is truly a magnificent Italian Renaissance Revival estate built in 1917.  This gorgeous property was designed by the renowned Pasadena architect G. Lawrence Stimson and has over 10,000 square feet of living space and sits on 2 acres of land.

Rumor has it that this estate belongs to one of San Marino's past city mayors.  It's a huge honor to have your home selected to be the Showcase Design home.  At the same time, it takes a lot of patience on the part of the owner because they have to move out months ahead of time to allow designers the time to work their magic.

It is interesting to note that Pasadena's Showcase House of the Arts is an all volunteer organization with members donating their time and talents since 1948.  They originally started out as The Pasadena Junior Philharmonic Committee, and adopted the Pasadena Showcase House of Design as their annual benefit in 1965. It is one of the oldest, largest and most successful house and garden tours in the nation.  For more information please visit Pasadena's Showcase House website.

I love visiting the Showcase House of Design each year not only to see the amazing transformation and vision of individual designers, but also to visit the shops and restaurant which is catered by Wolfgang Puck.  The shops have the most amazing selection of beautiful, hand made gifts - perfect for Mother's Day!  I always stop by Wick'd Bean Candle display and load up on my favorite scent - Champagne and Apricot. 

The Shops and Restaurant at Showcase hours are:

Tuesdays 9 am to 5 pm

Wednesdays through Friday 9 am to 9 pm

Saturdays and Sundays 9 am to 5 pm.

Closed on Mondays.

The Showcase House Entry Hours:

Tuesday, Saturday, Sunday - 9 am to 3:45 pm

Wednesday, Thursday, Friday - 9 am to 7:45 pm

Ticket times are scheduled on the quarter hour.

Closed on Mondays.

To order tickets, please call 714-442-3872 or visit www.pasadenashowcase.org

Ticket Prices are from $30.

READ MORE:  Pasadena Real Estate Guide

Do you have $52 Million to spare?  Extraordinary Pasadena luxury estate