Pasadena Real Estate

Langham Hotel, previously known as the Pasadena Ritz Carlton, is surrounded by some of the most beautiful luxurious estates in Pasadena and San Marino.  So, if you are curious to see what's available in the Langham Huntington Hotel Neighborhood, let's take a look at a couple of homes I previewed today.

1535 Kenmore Road, Pasadena

My personal favorite of the tour.  This 4 bedroom, 3 bath home is right around the corner, on a cul-de-sac, with a tranquil and peaceful back yard. 

Per Listing Agent:  An entry is a journey, & architect Miller Fong has employed harmony, flow & spatial dynamics to guide us into his own stylish contemporary world. This striking residence is open & livable w/ a flexible floor plan, walls of glass & remarkable vistas. On entering, a serpentine wall leads past a spacious den w/ fireplace towards the great room w/ generous seating area, fireplace, dining space & fantastic kitchen w/ newer stainless appliances. The materials are exciting: a mosaic tile backsplash is juxtaposed against a polished, stained concrete floor; marble counters are a foil for sponged walls; & natural skylights contrast w/ European, low voltage cable strung lighting. A convenient guest bath & laundry are adjacent. The master suite offers a grand picture window, a spectacular bath w/ Jacuzzi tub & wall-less garden shower & a dream dressing room that shares the entry's dramatic serpentine wall. 3 additional bedrooms, a handsome bath & extensive patio space complete this exquisite home.

 

Listed with Tink Cheney, Coldwell Banker

830 Huntington Garden Drive, Pasadena California

This home is right behind the Langham on the magical Huntington Garden Drive.

Per Listing Agent A traditional Cape Cod near the Langham Hotel on a quiet street. The lovely kitchen is updated with granite counters and newer appliances. A large bedroom suite is on the same floor level with the living room, the dining room, & kitchen. The living room is special living space with an elegant fireplace, and views over the pool. The family room is downstairs with bathroom, and 3 bedrooms with access to pool area and gardens. There is a stone patio, a wood deck and grassy area with a beautiful pool. The bathrooms are marble with granite counters hardwoods and limestone floors.

Listed with Monica Wilson (w/ Janet Fitzgerald), Coldwell Banker

445 Buena Vista Street, San Marino California

Close enough to the Langham, but just a few blocks away from San Marino's Mission District and infamous Julienne's Restaurant.  The best of both worlds!  In conversation with the listing agent, this property is not expected to be available for longer than a week or so.  Multiple offers expected.

Per Listing Agent: FABULOUS MONTEREY COLONIAL HOME IN THE POPULAR MISSION DISTRICT. A WONDERFUL NEIGHBORHO0D NEAR PASADENA & SOUTH PASADENA,PLUS EASY ACCESS TO THE 110 FREEWAY.Y0U WILL LOVE THIS LOCATION. DON'T MISS THIS LOVELY SPACIOUS, REMODELED HOME; IT'S A TRUE GEM. GREAT 3RD FLOOR LOWER LEVEL WITH A FIREPLACE, 2 WINDOWS, BUILT-IN CUPBOARDS, AND NEWER CARPET.A PERFECT AREA FOR A MEDIA ROOM OR RECREATIONAL AREA.

Listed with Linda O'Neal, Dilbeck Realtors

1335 Saint Albans Road San Marino

This home is also in San Marino known for its #1 rated California Public Schools.  It is almost across the street from Lacy Park with its rose garden and tennis courts.  If you're looking for a Mid-Century this luxury property might be for you.

Per Listing Agent - A spacious one story mid century home situated on over 1/2 acre (25,200 sq.ft.) in one of the most desirable San Marino locations, adjacent to Lacy Park and the Huntington Library. Enter this beautiful home through Chinese fret work entrance. This home features 4bed, 3ba., powder room, large living room with raised marble fireplace, formal dining room, kitchen with breakfast area, charming wood paneled family room with built in book shelves, corner fireplace and wet bar, a grand sized multipurpose garden room overlooking and opening out to rear patio gardens and pool. The exquisite professionally landscaped front and rear gardens featuring oversized resort style pool, specimen trees: palms, bamboo, foliage plantings and ferns, rear patio, private rear deck, two 2-car detached garages, all add to and extend the livability of the San Marino residence.

Listed with Linda Chang (w/ Brent Chang), Coldwell Banker

Listing information for properties above is deemed reliable but not guaranteed. Read full disclaimer.

Take a look at some of the other San Marino homes for sale below:

 

For specific details of the home above, please visit San Marino Luxury Homes For Sale.

 

IRINA NETCHAEV & ASSOCIATES

PasadenaViews Real Estate Team

445 South Fair Oaks Avenue

Pasadena, CA 91105

Irina at PasadenaViews.com

(626)629-VIEW (8439)

 

http://www.pasadenacarealestatehomes.com/00AB60

Last week, I had the opportunity to tour 1649 Lombardy Road in Pasadena California.  This gracious home resides among the Pasadena estates that are minutes from the Huntington Library in San Marino and CalTech in Pasadena.

Wallace Neff, the architect known for developing the "California" style of homes excelled himself when he designed this estate in 1924.  Since then, this luxury home has been tastefully renovated and is now waiting for a new owner.

READ MORE:  Top 10 Luxury Estates sold in Pasadena in 2009

Estate Property Details:

5 Bedrooms and 6 Baths

House was measured to be over 7,300 sq. ft. per agent's brochure

Lot size is 23,425 per assessor

Formal Dining Room

Amazing Great Room with an Open Kitchen

Game Room

3 Car Garage

Zoned HVAC System

Double Gated Driveway

and much, much more...

 

As you walk through this home, the attention to detail and the use of materials throughout is breathtaking.  Take a look at some of these photos, courtesy of Laurie March.

Peace and tranquility with lush landscaping and use of wood floors throughout...

Library/Ofice... love the nook for the books and tons of light through the windows.

Read more »

http://www.pasadenacarealestatehomes.com/00A71B

As 2009 wrapped up, it's interesting to see how Pasadena and surrounding cities real estate market performed.  So instead of writing our monthly report, I wanted to take a look at the last few years of home sales.

Last year was difficult for many families, short sales and foreclosures were showing up in both low end and high price spectrum of the real estate market.  However, 2009 presented many opportunities for both investors, first time home buyers, as well as long term renters waiting for prices to come down to a point of affordability.

The prices have not moved down as much as expected in Pasadena California and surrounding neighborhoods, but the interest rate remained historically low and coupled with tax incentives, home buyers were out in force.

Let's take a look at the home sales statistics below.

Pasadena Home Sales 2003 through 2009:

Throughout this year, I've been saying that Pasadena was very low on inventory.  The moment a home came up on the market, if it was priced correctly, it was gone immediately.  We were expecting to be hit with a wave of foreclosures, but that never realized.  We've seen some bank owned properties hit the real estate market, but moratorium after moratorium kept the majority of the foreclosures from hitting the streets. 

There's been a lot of talk of "shadow" foreclosure inventory.  The inventory of foreclosure homes that are still sitting on bank books.  2010 might be the year for the shadow inventory to be released especially in the higher priced end of the market.

As you can see, 2009 had a higher number of home units sold at 841 an increase of 28% over 2008, but still far short of the 1,300 to 1,400 units in 2003 and 2004.

Take a look at the average listing price per square foot vs average sold price per square foot.  This pretty much tells you the story of the Pasadena real estate market in 2009 - multiple offers!  Prices were bid up by the buyers and on average the price per sq. ft. was almost 22% higher than the original listed sq. ft. price - pretty darn amazing!

The actual average closing Pasadena home sales price was at $900,582, way higher than 2008's $851,702.  Don't let anyone tell you that there are no home buyers out there.  The home buyers are there and ready to buy.  The prices are right and the financial conditions - interest rates, government tax incentives are making this a perfect storm for many.

Pasadena California Single Family Homes Sales - 7 year analysis (2003 - 2009)

SFR	2003	2004	2005	2006	2007	2008	2009
# of Units Sold	1402	1390	1294	1069	811	657	841
Ave List Price/Sq.Ft.	$339	$402	$472	$502	$496	$440	$382
Ave Sold Price/Sq.Ft.	$336	$408	$479	$497	$489	$428	$433
Ave List Price	$620,750	$717,994	$835,039	$938,407	$977,794	$880,432	$739,797
Ave Sales Price	$616,489	$728,126	$847,985	$928,328	$959,394	$851,702	$900,582
% of Sold to List	99.3%	101.4%	101.6%	98.9%	98.1%	96.7%	121.7%
Ave # of Days on the Market	27	24	26	37	51	96	71

Read More:  See all Pasadena homes for sale

Pasadena Condo and Townhouse Sales - 7 year analysis (2003 - 2009)

A similar situation with condos and townhomes, the volume of home sales is down, but not as signifcantly as we see in Pasadena's single family homes.  Pasadena condo and townhome buyers are seeing prices at the 2004 level.  Think of rolling the home prices back 5 years - not bad!

It is taking longer to sell these condos and townhomes, but still less than 3 months.  Remember the post about whether or not we are in the buyer's vs seller's market?  We are still in a pretty strong seller's market - these properties are selling if priced correctly.

	2003	2004	2005	2006	2007	2008	2009
# of Units Sold	664	744	731	683	597	374	488
Ave List Price/Sq.Ft.	$268	$341	$410	$437	$442	$409	$359
Ave Sold Price/Sq.Ft.	$269	$346	$420	$431	$432	$388	$348
Ave List Price	$343,168	$425,945	$499,323	$526,625	$571,055	$529,495	$464,392
Ave Sales Price	$344,487	$430,696	$507,887	$519,946	$557,042	$504,093	$449,964
% of Sold to List	100.4%	101.1%	101.7%	98.7%	97.5%	95.2%	96.9%
Ave # of Days on the Market	24	23	31	50	66	95	85

Read More:  Pasadena's New Construction Condos for Sale

See all Pasadena Condos and Townhomes for sale

South Pasadena Real Estate Data 2003 through 2009:

South Pasadena home sales were on fire... great school district and a small town, family oriented atmosphere was driving real estate sales last year.  The volume went up drastically from 2008, but buyer were much more finicky. 

South Pasadena is known for older, character homes.  The homes that were staged and updated sold immediately with multiple offers.  Homes that had deferred maintenance or were not presented as well as they should took a bit of time to sell. 

Sold price per square foot dropped from the high of $513 in 2005 to $477 in 2009 - still a pretty high number considering that an average home sold cost almost a million dollars.

South Pasadena Home Sales - 7 year analysis (2003 - 2009)

SOUTH PASADENA	2003	2004	2005	2006	2007	2008	2009
SFR
# of Units Sold	255	180	179	185	145	79	117
Ave List Price/Sq.Ft.	$344	$401	$481	$510	$518	$524	$488
Ave Sold Price/Sq.Ft.	$344	$415	$488	$513	$517	$510	$477
Ave List Price	$656,128	$796,551	$937,169	$1,037,107	$1,023,445	$1,152,025	$1,027,664
Ave Sales Price	$646,771	$819,416	$957,034	$1,042,387	$1,017,776	$1,095,100	$993,201
% of Sold to List	98.6%	102.9%	102.1%	100.5%	99.4%	95.1%	96.6%
Ave # of Days on the Market	37	34	32	42	44	81	67

Read More:  See all South Pasadena homes for sale

South Pasadena Condo and Townhouse Sales - 7 year analysis (2003 - 2009)

There were really some amazing deals to be found in South Pasadena's condo and townhome market.  First of all, families were able to buy homes within one of the top school districts in the area for as little as $349 per sq. ft.  On average, a So Pas home buyer would need a bit over $500,000, but that's still half the price of a single family home.

One of my lucky home buyer clients, were able to buy a 3 bedroom townhome for only $420,000.  That would have been truly unheard of a few years ago.  The best advice for families that are waiting to get into the South Pasadena real estate market is to be prepared - work with a real estate agent that cares about your needs, get pre-approved and be available to view properties as they come up on the market.

SOUTH PASADENA	2003	2004	2005	2006	2007	2008	2009
# of Units Sold	54	71	76	65	55	30	42
Ave List Price/Sq.Ft.	$252	$314	$399	$426	$431	$399	$349
Ave Sold Price/Sq.Ft.	$252	$317	$404	$422	$429	$390	$342
Ave List Price	$338,313	$404,019	$477,004	$560,290	$607,253	$550,240	$517,996
Ave Sales Price	$337,435	$407,825	$483,327	$554,302	$602,763	$537,503	$506,375
% of Sold to List	99.7%	100.9%	101.3%	98.9%	99.3%	97.7%	97.8%
Ave # of Days on the Market	21	27	25	38	60	95	58

Read More:  See all South Pasadena condos and townhomes for sale

San Marino Home Sales Analysis for 2003 - 2009:

This has been a truly amazing year for San Marino real estate.  Prices held quite well and homes were selling higher than they did in 2007! 

San Marino is known for its huge lawns, amazing school district and a very close-knit community.  With Huntington Library, Lacy Park and luxury estates, it's truly an amazing place to live. 

A home buyer still needs a bit over $1.7 million to get an average priced home.  There are homes available in the low 1 million dollar range and sometimes one can find a home under a million, but for the most part these homes need quite a bit of attention.

San Marino was not immune to foreclosures.  We did see two foreclosure homes - both homes sold over a million still.  If you are interested in tracking potential foreclosures in San Marino, bookmark this San Marino foreclosure post.  It will update, real time as new foreclosures come up on the market.

It's also interesting to note that there are no condos or townhomes in San Marino.  However, there's a complex of townhomes on the border of Pasadena and San Marino that is assigned to San Marino schools.  There are also certain homes in San Gabriel and Pasadena that fall under the San Marino schools boundaries. 

San Marino	2003	2004	2005	2006	2007	2008	2009
# of Units Sold	304	303	203	192	169	110	126
Ave List Price/Sq.Ft.	$399	$470	$529	$579	$617	$595	$597
Ave Sold Price/Sq.Ft.	$375	$454	$526	$569	$611	$582	$575
Ave List Price	$1,189,954	$1,363,619	$1,500,824	$1,588,317	$1,802,251	$1,684,134	$1,797,913
Ave Sales Price	$1,094,214	$1,291,828	$1,438,804	$1,519,560	$1,729,589	$1,562,207	$1,721,617
% of Sold to List	92.0%	94.7%	95.9%	95.7%	96.0%	92.8%	95.8%
Ave # of Days on the Market	42	41	41	48	57	54	56

Read More:  See all San Marino homes for sale

San Gabriel Real Estate Home Sales Statistics 2003 through 2009:

Well San Gabriel didn't fare as well as some of the other cities near Pasadena.  It's taking longer to sell a home as well as the price sold has rolled back to 2004 levels.  This is great for home buyers.  Inventory of homes has increased and there's quite a bit of choice.  Even though, we are seeing multiple offers on some of the homes, overall buyers are able to find a home to fit their needs and check book.  Homes are being priced fairly and are selling close to aslking price - just a percentage or so below.

San Gabriel Homes for Sales data for 2003 through 2009

SAN GABRIEL	2003	2004	2005	2006	2007	2008	2009
SFR
# of Units Sold	445	452	406	368	294	207	278
Ave List Price/Sq.Ft.	$267	$332	$398	$409	$412	$372	$356
Ave Sold Price/Sq.Ft.	$267	$331	$404	$413	$404	$361	$350
Ave List Price	$429,918	$530,420	$615,726	$672,220	$673,120	$600,296	$572,244
Ave Sales Price	$436,074	$528,448	$630,230	$675,388	$658,664	$584,949	$563,219
% of Sold to List	101.4%	99.6%	102.4%	100.5%	97.9%	97.4%	98.4%
Ave # of Days on the Market	9	8	11	16	23	24	57

Read More:  See all San Gabriel Homes for Sale

San Gabriel Condos and Townhomes for sale

Price per square foot has decreased to $271 for San Gabriel condos and townhomes, but the average sales price is actually a bit higher than in 2008.  Home buyers are getting more square footage for their money. 

The selection of condos and townhomes is quite nice.  Inventory has doubled from last year and is higher than the year prior.  Home buyers are nicely surprised with the choice of homes.  This can also be seen in a longer marketing period of 105 days compared to previous years of only a month or less on the market.

SAN GABRIEL	2003	2004	2005	2006	2007	2008	2009
# of Units Sold	91	77	104	80	54	37	74
Ave List Price/Sq.Ft.	$201	$258	$317	$333	$330	$325	$275
Ave Sold Price/Sq.Ft.	$199	$257	$315	$371	$320	$310	$271
Ave List Price	$275,367	$325,205	$458,785	$481,131	$502,924	$458,387	$447,410
Ave Sales Price	$272,193	$323,450	$456,743	$516,066	$488,083	$437,135	$441,052
% of Sold to List	98.8%	99.5%	99.6%	107.3%	97.0%	95.4%	98.6%
Ave # of Days on the Market	11	18	25	36	31	39	105

Read More:  Search San Gabriel Condos and Townomes

Monterey Hills Condo and Townhome Sales 2003 through 2009:

I was actually quite surprised to see the inventory increase towards the end of 2009.  Monterey Hills condo and townhome owners have been holding on to their homes and not putting them on the market.  However, we did see quite a bit of distressed sales in the area which helped increase the inventory.

The price per square foot fell under $300 to $277 and is rolling prices back to the 2003 level.  Folks working in downtown LA or have kids attending USC love Monterey Hills for its geographic convenience.  A lot of investors are itching to buy units because they are so easy to rent and are conveniently located minutes from South Pasadena and Pasadena. 

Overall, I think that we'll see more foreclosures and opportunities in 2010 in Monterey Hills.  There's definitely "shadow" inventory to be found next year. We will be watching closely.

Monterey Hills	2003	2004	2005	2006	2007	2008	2009
# of Units Sold	129	108	99	61	52	35	50
Ave List Price/Sq.Ft.	$228	$303	$355	$375	$369	$325	$281
Ave Sold Price/Sq.Ft.	$224	$302	$358	$372	$361	$307	$277
Ave List Price	$259,226	$325,912	$407,407	$420,655	$406,281	$362,246	$333,350
Ave Sales Price	$254,996	$325,115	$409,962	$414,330	$397,217	$354,097	$327,107
% of Sold to List	98.4%	99.8%	100.6%	98.5%	97.8%	97.8%	98.1%
Ave # of Days on the Market	35	34	40	74	84	87	66

Read More: See all Monterey Hills condos for Sale

 As always, we will be providing monthly home sales reports for Pasadena and surrounding cities.  In the meantime, please do not hesitate to call us should you have any questions about any of the real estate data above or need helping with buying or selling a home, condominium or townhome.

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

(626)629-VIEW(8439)

http://www.pasadenacarealestatehomes.com/00A566

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:

Single Family Residence	Apr-09	May-09	Jun-09
New Listings	14	15	11
Total Listings	35	39	36
Sales Pending	12	16	15
Homes Sold	10	14	16
Listings Expired	4	5	3
Average Days on the Market	67	49	67
Average Price Per Sq. Ft.	$526	$585	$566
Median Selling Price	$1,477,500	$1,649,000	$1,435,500
Average Selling Price	$1,710,300	$1,863,057	$1,922,125
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	15.2	12.1	9.8

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

 

 

 

http://www.pasadenacarealestatehomes.com/0099B7

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

http://www.pasadenacarealestatehomes.com/0096E1