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

It was an interesting month for Alhambra's real estate activity.  Sales of single family homes declined a bit from June to only 14 homes sold.   Condos and townhomes on the other hand had a significant increase - twice as many condos and townhome sold in July vs. June -  but at a lower price per square foot.  However, the number of inventory has increased for both homes, condos and townhomes. 

The highest priced home sold in Alhambra in July 2009:  819 North Olive Avenue, Alhambra - sold for $576,000.

• Single Family homes in Alhambra have sold at 98.72% of list price.

The highest priced condo/townhome sold in Alhambra in July 2009:  208 Palmetto Drive #E, Alhambra - sold for $498,000.

•  Condos and townhomes have sold at 100.80% of list price.

Alhambra Real Estate Activity for April 2009 through July 2009:

 

Single Family Residence	Apr-09	May-09	Jun-09	Jul-09
New Listings	13	16	20	25
Total Listings	40	41	46	59
Sales Pending	19	17	25	21
Homes Sold	31	18	16	14
Listings Expired	4	15	5	3
Average Days on the Market	165	54	50	51
Average Price Per Sq. Ft.	$323	$332	$347	$352
Median Selling Price	$455,700	$525,000	$475,000	$475,968
Average Selling Price	$496,029	$572,278	$470,813	$482,781
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	5.6	9.9	12.5	18.3
Condos and Townhomes	Apr-09	May-09	Jun-09	Jul-09
New Listings	9	11	10	24
Total Listings	32	41	36	45
Sales Pending	7	15	18	13
Homes Sold	10	7	8	16
Listings Expired	6	1	7	6
Average Days on the Market	115	105	77	45
Average Price Per Sq. Ft.	$263	$286	$282	$270
Median Selling Price	$336,250	$400,000	$366,500	$391,500
Average Selling Price	$342,440	$402,686	$361,000	$362,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	13.9	25.4	19.5	12.2

 

Interested in seeing what is available for sale in Alhambra?  Take a look below at all available homes on the real estate market:

 

To see specifics on any of these homes, please visit Alhambra homes for sale.

You can find all Alhambra foreclosures for sale here.

 

 

READ MORE:

Pasadena Real Estate Guide

San Marino City Guide

South Pasadena City Guide

Altadena Foreclosures List

Burbank Foreclosure Home List

Pasadena Foreclosure Home List

South Pasadena Foreclosure Home List

Pasadena Income Property for Sale

 

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

(626)204-3340

 

 

 

http://www.pasadenacarealestatehomes.com/009AB3

Real estate activity is picking up in Alhambra.  The number of home sellers has increased this month, but the number of buyers making offers and opening escrow is at it's highest at 25 in June.  Alhambra homes are also selling pretty close to their asking price at 99.6% sold to list price.

The home buyers that I have been working with who are looking for Alhambra homes have experienced multiple offers and have to be fully prepared to act on homes they like otherwise they go into escrow fairly quickly.

Here are the Alhambra real estate statistics for your review for the months of April to June 2009:

 

Single Family Residence	Apr-09	May-09	Jun-09
New Listings	13	16	20
Total Listings	40	41	46
Sales Pending	19	17	25
Homes Sold	31	18	16
Listings Expired	4	15	5
Average Days on the Market	165	54	50
Average Price Per Sq. Ft.	$323	$332	$347
Median Selling Price	$455,700	$525,000	$475,000
Average Selling Price	$496,029	$572,278	$470,813
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	5.6	9.9	12.5
Condos and Townhomes	Apr-09	May-09	Jun-09
New Listings	9	11	10
Total Listings	32	41	36
Sales Pending	7	15	18
Homes Sold	10	7	8
Listings Expired	6	1	7
Average Days on the Market	115	105	77
Average Price Per Sq. Ft.	$263	$286	$282
Median Selling Price	$336,250	$400,000	$366,500
Average Selling Price	$342,440	$402,686	$361,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	13.9	25.4	19.5

Take a look below at available homes on the market:

To see specifics on any of these homes, please visit Alhambra homes for sale.

You can find all Alhambra foreclosures for sale here.

 

 

READ MORE:

Pasadena Real Estate Guide

San Marino City Guide

South Pasadena City Guide

Altadena Foreclosures List

Burbank Foreclosure Home List

Pasadena Foreclosure Home List

South Pasadena Foreclosure Home List

Pasadena Income Property for Sale

 

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

(626)204-3340

 

 

 

http://www.pasadenacarealestatehomes.com/0099A1

 

Summer is about being outdoors, enjoying activities with friends and family and of course, heading over to your favorite park for a concert.  If that concert is free, well... that's even better.

So, without further ado, here's a list of Summer Concerts in the Park.

2009 Summer Concert Schedule:

ALTADENA, CA

Location: 568 East Mt. Curve Ave. in the Ampitheater at Farnsworth Park

Time: 7:00 p.m.

Down Beat Express (Big Band)	Saturday, June 27th
Elk's #99 Concert Band (Patiotic Music)	Saturday, July 4th
The Surfing Safaris (Beach Party)	Saturday, July 18th
Elliott Caine (Jazz Trumpet)	Saturday, July 25th
Melena (Latin Jazz)	Saturday, August 1st
Those Manning Boys (Irish Dance & Song)	Saturday, August 8th
Brian Hughes (Jazz Guitarist)	Saturday, August 15th
All American Wranglers (Country)	Saturday, August 29th
Hot August Night (tribute to Neil Diamond)	Saturday, Sept. 12th

ARCADIA, CA

Location: 240 West Huntington Drive - City Hall West Lawn

Time: 6:30 - 8:00 p.m. There will also be a Free Kids Fun Zone with games and crafts

Hodads (Beach Tunes)	Thursday, July 9th
Hollin' Blues Boogie Band (Blues)	Thursday, July 16th
Rockit Scientists (Tribute to Baby Boomers)	Thursday, July 23rd
Silverados (Country)	Thursday, July 30th
Cold Duck (70's)	Thursday, August 6th
Jumpin Joz (Swing)	Thursday, August 13th
Rubber Soul (Beatles Tribute)	Thursday, August 20th

COVINA, CA

Location: 301 North 4th Avenue Covina Park Bandshell

Time: 7:30 p.m.

The Answer (Classic Rock)	Monday, June 22nd
Covina Concert Band - Swing with the Big Bands	Thursday, June 25th
Cold Duck (R&B)	Monday, June 29th
Covina Concert Band - America: Home Sweet Home	Thursday, July 2nd
The Hodads (Beach Boys Tunes)	Monday, July 6th
Covina Concert Band - Broadway Curtain Time	Thursday, July 9th
Suave (Latin Jazz, Disco & Salsa)	Monday, July 13th
Covina Concert Band - Night at the movies	Thursday, July 16th
Undercover Girls (Rock hits)	Monday, July 20th
Covina Concert Band - Music for the Young at Heart	Thursday, July 23rd
Film at Eleven & The Late Breaking Horns (Classic 60's n 70's)	Monday, July 27th
Covina Concert Band - Around the World in 80 Minutes	Thursday, July 30th

GLENDORA, CA

Location: 160 North Wabash Avenue, Glendora - Bandshell at Finkbiner Park

Time: 6:00 p.m.

The Answer (Classic Rock)	Sunday, July 12th
Stone Soul (Motown & Soul)	Sunday, July 19th
Disco Diva (70's Dance)	Sunday, July 26th
Elvis	Sunday, August 2nd
The Wise Guys (Big Band)	Sunday, August 9th
All American Wranglers (Counrty)	Sunday, August 16th
Cold Duck (R&B)	Sunday, August 23rd

LA CANADA FLINTRIDGE, CA

Location: 1301 Foothill Blvd., Memorial Park

Time: 6:00 - 8:00 p.m.

Wake the Bard  (Traditional Celtic)	Sunday, June 21st
Misplaced Priorities (Classic Rock) Classic Car Show prior to Concert	Sunday, June 28th
Steve Roth (Elvis Tribute)	Sunday, July 5th
The Jack Lantz Big Band (Big Band)	Sunday, July 12th
Pacific Coast Highway (Light Rock)	Sunday, July 19th
Brian Lynn Jones & The Misfit Cowboys (Country)	Sunday, July 26th
Swing Inc. (Swing)	Sunday, August 2nd
Hot August Night ( Tribute to Neil Diamond)	Sunday, August 9th
Bluegrass Billionares (Bluegrass)	Sunday, August 16th
Palm Drive ( Classic Rock)	Sunday, August 23rd

LOS ANGELES - DOWNTOWN

Location: 350 South Grand Avenue, Downtown Los Angeles - California Plaza

Call: 213-687-2159

Hal David - Musicology 302	July 9th 8:00 p.m.
Rocky Dawuni	July 10th 12:00 & 8:00 p.m.
Buika & Perla Batalla	July 11th 8:00 p.m.
Justo Almario's Afro-Colombian Ensamble	July 17th 12:00 p.m.
Watcha Clan & CuCu Diamantes	July 17th 8:00 p.m.
Albita	July 18th 8:00 p.m.
The Bad Plus & Wendy Lewis	July 24th 12:00 & 8:00 p.m.
Curumin & Novalima	July 25th 8:00 p.m.
Lo Cor de la Plana & Fishtank Ensemble	July 31st 12:00 & 8:00 p.m.
Mentiritas, La Santa Cecilia & Mr. Vallenato	August 1st 7:00 p.m.
Haegum Plus	August 7th 12:00 & 8:00 p.m.
Tanya Tagaq & Hyperpotamus	August 8th 8:00 p.m.
K.B. Solomon: The Paul Robeson Project	August 9th 8:00 p.m.
Toto la Momposina y sus Tambores	August 14th 12:00 & 8:00 p.m.
Rokia Traore	August 15th 8:00 p.m.
Inspiration House Poetry Choir	August 20th 8:00 p.m.
Adaawe	August 21st 12:00 p.m.
Rahim Alhaj	August 21st 8:00 p.m.

MONROVIA, CA

Location: Library Park Bandshell

Time: 6:30 p.m.

Doo Wah Riders	Sunday, July 12th
Moon Dance	Sunday, July 19th
The Answer	Sunday, July 26th
Reflex	Sunday, August 2nd

 

PASADENA, CA

Visit Pasadena City Guide for more information.

Read more »

http://www.pasadenacarealestatehomes.com/00764C

In reviewing the market statistics for Alhambra real estate, it is clear that 2009 started strong with almost double the home sales and Alhambra homes that went under contract compared to the last several months of 2008.

It's interesting to note that 14 homes came up on the market for sale in Alhambra and only one of the 14 is a short sale.  There were no new foreclosure homes.

READ MORE:  Why foreclosure homes are not what you think they are!

Alhambra home sellers that listed their homes for sale in January were much more realistic in their pricing with the average price per square foot running at $354 vs. the homes that have been marketted prior to January averaging closer to $385 per sq.ft.  Compare that to actual home sales at $322 per sq. ft. in January. 

Interest rates were the lowest in 50 years hitting to below 5% which encouraged buyers to finalize their home purchase and take advantage of low prices as well as low monthly payments.

The highest priced home available for sale in Alhambra is at 1301 Hoeffer Drive listed for $1,890,000.  It's a 5 bedroom home with 3,600 sq. ft. and was built in 2008.

The lowest priced home available for sale in Alhambra is at 1304 Milton Avenue and is offered for sale at  $319,000.  This home is 740 sq. ft. and has 2 bedrooms and 1 bath.

Alhambra condos had no sales at all in January.  Although 9 Alhambra condos went under contract in January 2009 compared to only 2 in December 2008.  The inventory is remaining pretty constant at 30 available units, but priced fairly high at $324 per sq. ft. 

2 Alhambra townhomes closed escrow in January and only 1 townhome went under contract.  13 Alhambra townhomes are available for sale.

I anticipate condos and tonwhomes in Alhambra dropping in value pretty fast given the amount of inventory and the rate of sales.  If everything remains constant, it'll take Alhambra condo sellers over a year and half to sell their homes!  Alhambra home sellers need to realize that time is not their friend.  Each day their home stays on the market, it will value less and less.  Only sell your Alhambra home if you are serious and need to sell!  Don't torture yourself with placing your home on the market at an unreasonable price.

Here's the Alhambra real estate data for the last three months for your review (November 2008 through January 2009):

Alhambra
Single Family Residence	Nov-08	Dec-08	Jan-09
New Listings	14	15	14
Total Listings	54	51	55
Sales Pending	8	7	13
Homes Sold	7	8	14
Listings Expired	7	11	12
Average Days on the Market	92	n/a	68
Average Price Per Sq. Ft.	$329	$312	$322
Average Median Price	$540,000	$445,063	Not Available
Average Selling Price	$552,714	$470,000	$441,957
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	33.4	27.6	17.0
Condos and Townhomes	Nov-08	Dec-08	Jan-09
New Listings	12	6	9
Total Listings	40	28	43
Sales Pending	1	2	10
Homes Sold	7	5	2
Listings Expired	5	11	11
Average Days on the Market	45	n/a	112
Average Price Per Sq. Ft.	$269	$295	$263
Average Median Price	$365,000	$390,000	$305,750
Average Selling Price	$367,000	$397,000	$305,750
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	24.8	24.3	93.2

 

If you are interested in seeing all current Alhambra homes for sale, see the list below.

Feel free to sign up for a VIP membership which will allow you to save home searches and be notified via email every time a new Alhambra home is listed with your saved criteria.

If you are interested in seeing all foreclosures in Alhambra and surrounding cities, see the list below:

 

 

 

Data compiled from ITEC (Pasadena Foothill Association Multiple Listing Service)

I invite you to request Alhambra's real estate market real time reports by clicking How's the Market button on my real estate blog.  These reports are compiled by Altos Research and the analysis is emailed to you weekly.  I also offer real estate market reports for San Gabriel, San Marino, South Pasadena, Pasadena, Arcadia, Altadena, Monterey Hills and more.

If you would like to search for homes in Alhambra, please visit the free home search here on this real estate website.

For a private consultation about buying or selling your Alhambra home, or if you have other real estate related questions, I'd love to hear from you at 626.627.7107.

Posted by Irina Netchaev, real estate broker

 

http://www.pasadenacarealestatehomes.com/009470