San Marino, known for its stately homes and green lawns is begining to see foreclosures in the real estate market.  A couple of days ago, I wrote a post about 2975 Wallingford - a San Marino property that is now owned by the bank and is listed as a foreclosure. 

Today, I profiled 1525 St. Albans in San Marino on the San Marino Community Website.

Take a look at the Google Street Map of the home on St. Albans:

This San Marino home has been under construction for over a year now - actually, construction has pretty much stopped awhile back.  It's located only a few blocks from Lacy Park and will be an amazing property once completed.

For more information about San Marino, California, please visit my San Marino City Guide

For information about foreclosures and short sales, you might want to take a look at the following property searches:

Pasadena Foreclosures

San Marino Foreclosures

South Pasadena Foreclosures

Arcadia Foreclosures

San Marino California's real estate inventory remains pretty stable for October. The number of new homes listed for sale remains at 12 with no change from August and the overall number of available homes is still in the low 30s.

On average, it is taking a little over a month to market and sell a home in San Marino and the homes are still selling in the mid $1 million dollar range.

San Marino homes that sold in October sold on average OVER their asking price at 102.43%. The average home sold was 2,868 sq. ft. and had 4 bedrooms and 3 baths.

SEARCH ALL SAN MARINO REAL ESTATE HOMES FOR SALE

Read the full article with detailed statistics for San Marino real estate by clicking here - San Marino real estate market housing report and statistics for 2008

In the meantime, here's a live feed of all San Marino homes for sale in California for your review:

For additional information on San Marino housing and real estate market conditions or a confidential consultation to see how your San Marino home is fairing in the market, please call Irina at 626-627-7107.

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 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 seller has been actively marketing their homes 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!

For a complete list of dusty deals for November - homes for sale in Arcadia, Alhambra, Altadena, Burbank, Eagle Rock, Highland Park, La Canada Flintridge, Monrovia and Monterey Hills, please visit - Dusty Deals for November 2008.   With the inventory of homes being at a record high, you'll need to scroll down to find the city that you're interested in.  It's a very long post.

If there's a particular city that you're interested in getting a list for, please leave a comment and I'll make sure that I include it in future posts.

So here's a list of homes for sale in San Marino California that have been on the market for over 100 days:

As you're going through the list, please look at the last column titled DOM (Days on the Market). This will tell you how many days these homes have been on the market.

READ MORE:

Dusty Deals list for September 08 - Pasadena, San Marino, Alhambra, Altadena, South Pasadena, Arcadia, Monrovia, Sierra Madre, Monrovia

Dusty Deals List for August 08 - Pasadena, Alhambra, South Pasadena, Monterey Hills, Altadena, Sierra Madre, Arcadia, Monrovia and San Marino

As you're going through the list, please look at the last column titled DOM (Days on the Market). This will tell you how many days these homes have been on the market.

Are you looking to buy a home in San Marino California? We are happy to give you all the information that might help you with your home purchase.  Please call us at   626-204-3340   or email Irina at Irina@Irina4RealEstate.com.

I just came back from voting today.  My polling place was at the Fellowship Hall in the San Marino Community Church.  There were no lines and the process was very organized.  The setting of the San Marino Community Church was beautiful so I thought that I'd capture some of these moments on film. 

Starbucks and Sierra Cup in Monrovia are giving away free cups of coffee to voters and Ben & Jerry's is giving away free ice cream.  So, go out, vote and celebrate with coffee and yummy ice cream!

Want to learn more about San Marino California, visit our San Marino City Guide page!

September was a slow home sales month for San Marino.  There were only eight homes that were sold.  These luxury San Marino estates ranged from $805,000 to $2,580,000.  Three of the homes were under $1.5 million and five were over.

1.  2370 Sherwood Road, San Marino - Listed at $1,549,000 and sold for $1,600,000 - SOLD OVER ASKING It was on the San Marino real estate market for only 18 days - this home was priced correctly and showed beautifully.

2.  2822 Gainsborough Drive - Listed at $1,920,000 and sold for $1,829,053.

3.  2855 Devonport Road - Listed at $1,880,000 and sold for $1,860,000.

4.  2890 Monterey Road - Listed at $1,850,000 and sold for $1,990,000.  SOLD OVER ASKING

5.  20 Mill Canyon Road - Listed at $2,888,888 and sold for $2,580,000

Information gathered from ITEC (Pasadena Foothill Association of Realtors)

If you are ready to start your San Marino luxury home search or thinking of relocating to San Marino and would like more information, please visit our San Marino website here.

READ MORE:  San Marino Schools are #1 in California again!

Every Thursday, real estate agents get together to preview new San Marino homes that are listed for sale.  This week, there were five San Marino homes available for preview.

You can find information about this week's San Marino homes for sale by clicking here.

Even though, the inventory of homes in San Marino is fairly stable and is not increasing the number of San Marino homes sold is almost 50% less in September compared to August.  October will not look much better since only six San Marino homes are in escrow right now, but new home listings are holding steady at about 11 to 13 homes a month - double the buyers' demand.  This can potentially lead to an overabundance of homes on the market and reduction of prices especially going into the slowest season of the real estate cycle - winter.

San Marino listings are also being priced higher than the average selling price over the last several months.  The average price per sq. ft. for active San Marino homes in the MLS is $653.  The sold price per sq. ft. is listed below - September closed at $625.  It's also interesting to note that the 6 San Marino homes currently under contract average out at $598 a sq. ft.

Of the eight San Marino home sales last month, three of these homes sold over asking price, with the highest priced sale for the month at $2,580,000 for 20 Mill Canyon Road.  This home was originally listed for sale at $2,888,888.

The lowest priced San Marino home on the market is $875,000 at 1913 S Los Robles.

The highest prices San Marino home on the market is $8,900,000 at 1385 Old Mill Road.

Read More:  San Marino Real Estate Market Report for August 2008

San Marino Real Estate Statistics for June 2008 to September 2008:

To give you a better understanding of what is happening in the San Marino real estate market, the graph below shows how the homes are selling in each quartile.  A quartile is 25% of the total San Marino homes listed.  The quartiles have been broken out as follows:

Quartile #1 - 25% of most expensive San Marino homes

Quartile #2 - 25% of upper middle priced San Marino homes 

Quartile #3 - 25% of lower middle priced San Marino homes

Quartile #4 - 25% of least expensive San Marino homes

In reviewing the above graph, we can see that home prices in most of San Marino quartiles have been trending higher in recent weeks except for the high-end of the real estate market, which has been essentially flat.

Data of San Marino homes for sale and San Marino solds was taken directly from ITEC (Pasadena Foothill MLS)

SUBSCRIBE TO WEEKLY SAN MARINO REAL ESTATE MARKET REPORT BY THE PREMIER REAL ESTATE REPORTING ANALYSIS FIRM, ALTOS RESEARCH

FIND SAN MARINO HOMES FOR SALE

Posted by Irina Netchaev, San Marino Luxury Home Real Estate Specialist

There were three San Marino homes on the Real Estate Broker's Open House tour today.  Two of the homes were luxury estates over $3 million and one home was a San Marino home that has been on the real estate market for awhile and just had a price reduction.

Let's start with the home that just had a price reduction.  It's a 4 bedroom, 3 bath home on 1635 Rubio Drive.  This home was originally listed at $1,790,000 and in my opinion was extremely overpriced.  It has a lot of deferred maintenance, doesn't show well - was not prepared for sale nor has care been taken to prepare it for any showings including previous broker open houses.  All in all, it is not a surprise that the price was reduced to $1,499,000.  This home has been on the San Marino real estate market for 118 days as of today.  It is currently priced at $557 square feet and definitely falls into my "San Marino dusty deals" category where the seller most likely will be willing to negotiate a bit more to move this property.  

New Home Listings this week:  Luxury San Marino estates

As discussed on this real estate blog previously, San Marino's luxury price point starts around $3 million.  A luxury home buyer in San Marino can expect an estate with a minimum of:

• 5 or more bedrooms with more than 5,000 sq. ft.
• An estate on a large lot
• A pool and a spa
• A guest house
• Location North of Huntington Drive
• Gourmet kitchen

1.  950 Roxbury Road in San Marino  -  Asking Price $3,650,000

This is a really lovely English Tudor situated on almost 2/3 of an acre.  This home is 5 bedrooms and 5 baths with over 5,300 sq. ft.  I loved the floor plan and felt there was quite a bit of light coming into the home for a Tudor.  The grounds were absolutely beautiful with a rose garden, outdoor entertaining area, a 50 foot pool and a very charming guest house.  This estate was nicely updated and has a three car garage.  A couple of drawbacks included its location - South of Huntington Drive and close to Alhambra and this was by far the grandest home on Roxbury Road.  $677 per sq. ft. seemed a bit high for the San Marino market right now.  September San Marino home sales closed at $625/sq. ft. on average.

2.  660 Lombardy Place, San Marino - Asking Price $3,650,000

A Monterey Colonial Revival built by famed architects, Marston, Van Pelt and Maybury in 1927.  This luxury home has 6 bedrooms and 7 baths with over 5,400 sq. ft. and sits on over 25,000 sq. ft. lot.  This San Marino home has a guest house and a 4-car garage, a salt water pool and spa.  This hoem exhudes tranquility and peace.  It's priced at $621 per sq. ft.  This San Marino home is located North of Huntington Drive, but only 1 block away from San Gabriel Blvd.

 SEARCH HOMES FOR SALE IN SAN MARINO

Posted by Irina Netchaev, Real Estate Agent

I woke up to a beautiful rainbow right over my home in San Marino.  What a way to start a Monday... Enjoy!

San Marino real estate housing status has remained pretty stable in August 2008.  We did see an increased number of homes listed by real estate agents that have expired - meaning the sellers decided to take these homes off the real estate market.  Both June and July of this year had an average of 4 San Marino homes expire, but in August we saw 11 homes that were taken off the market.

The number of San Marino homes that were newly listed is about the same as in previous months.  The number of San Marino home sales for August is also running pretty close as the rest of the summer months.  The chart below gives the specific for the last three months.

Least expensive San Marino home in August was $899,999.

Most expensive San Marino home listing in August was selling for $8,900,000.

Inventory has been decreasing lately but the Market Action Index is falling also. With days-on-market climbing, these are relatively negative implications for the San Marino real estate market.

 

Read More:  Buyers' Market or Sellers' Market - understanding the Market Action Index

Data of San Marino homes for sale and San Marino solds was taken directly from ITEC (Pasadena Foothill MLS)

READ MORE:  San Marino Real Estate Market Report for September 2008

SUBSCRIBE TO WEEKLY SAN MARINO REAL ESTATE MARKET REPORT BY THE PREMIER REAL ESTATE REPORTING ANALYSIS FIRM, ALTOS RESEARCH

FIND SAN MARINO HOMES FOR SALE

Posted by Irina Netchaev, San Marino Luxury Home Real Estate Specialist

As a real estate agent working in and around Pasadena California, I am constantly getting phone calls from buyers looking for great deals and checking into 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 real estate for sale 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 seller has been actively marketing their homes 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 over priced 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!

READ MORE:  Dusty Deals list - August 2008

So here's a list of homes for sale that have been on the market for over 100 days separated by city.  This list includes homes for sale in Pasadena, South Pasadena, San Marino, Altadena, Alhambra, Arcadia, Monterey Hills, San Gabriel, Monrovia and Sierra Madre:

SINGLE FAMILY RESIDENCES

Alhambra Real Estate

Altadena Real Estate

Arcadia Real Estate

Monrovia Real Estate

Pasadena Real Estate