An analysis of the Pasadena Housing Market indicates that the market has slowed and the word "patience" has kept back into home sellers' vocabulary. However, Chicken Little is nowhere in sight. This analysis looked at Single Family Residences' from January to June. Sales compiled from 400 + transactions indicate that the market is not moving forward or backward but holding steady in terms of pricing. The median price continues to be $750,000, which is the median price we recorded for the same period last year. Considering the overall state of the national housing market, I think Pasadena has performed very well. To be even with last years numbers speaks well to the local economy.In terms of the number of houses that are selling, fewer are being sold this year vs. last and they are takin... 07/16/2007

Last night I decided to leave my cozy home and head down the hill to the re-opening of the Pasadena City Hall.  The area has been under construction for retrofitting and renovations for over 3 years and the project is now complete.  Of course I had a problem finding a place to park since it was such last minute and then I went down there to find at least 2,000 people there, many sitting in chairs they brought.  Silly me, I didn't bring a chair, so I stood and walked around the rest of the evening (along with the stilt walkers).  It was ok, though.  I was sitting most of the day anyway, so I didn't need to sit anymore.   I got there in time to hear the Pasadena POPS Orchestra perform with Valarie Pettiford and see the spectacular light show.  Actress Tracy Scoggins read something patriot... 07/16/2007

Sales of single family homes continued to slow for the month of June. There were fewer units sold this year compared to last and also increased evidence of a softening market in terms of pricing.When fewer units are being sold and it is taking longer for those houses to sell, that's a pretty good indication that prices may begin to show some vulnerability. There is a saying in real estate that "all markets are local". What applies to one market may not necessarily apply to another. We actually see evidence of this here in the Pasadena housing market with some houses selling very quickly and others taking much longer. Their locations can be as little as just a few streets apart.The data indicates a house listed for sale at $500,000 last year would sell in 39 days and actually sell for $5... 07/13/2007

The Pasadena Condo Market seems to be ignoring all the publicity about the slowing housing market. Unit sales were up 20% and the median price increased to $575,000 compared to $470,00 last year.If you have had the opportunity to drive through town, you have seen some new construction going on and chances are it may be new housing additions. There are several new complexes for sale on Green St, Chester Avenue and Union St., with prices starting in the mid $500's and up into the mid $800's. There seems to be a trend towards more luxurious and more expensive units.Despite the growth in this particular segment, there did appear to be some softening in sales prices. Sales indicate on properties that were sold, achieved 97.86% of their list price compared to 99.27% last year. While they are ... 07/12/2007

This Saturday, July 14th will be the 30th Annual Celebration on the Colorado Street Bridge.This event is sponsored by Pasadena Heritage with Capital Group and Indymac Bank.   It will include live music, dancing, antique cars, children activities, food vendors and beverages.Photography by Fred PalmerinoPasadena Street Bridge is one of the most beautiful bridges in the area.  It was dedicated on December 13, 1913 with over 30,000 people in attendance.  Engineered by John Alexander Lowe Waddell of Kansas City, it was designed to connect Pasadena to Los Angeles.It was the first curvilinear bridge and the tallest concrete bridge of its day.  It is now listed in the National Register of Historic Places as a Civil Engineering Landmark.For more information and tickets, please call Pasadena Heri... 07/12/2007

If you have considered remodeling or upgrading your kitchen appliances or maybe replacing your bathroom fixtures Pasadena Water & Power may be willing to help with the cost. They want to encourage their customer's to get rid of those old appliances and fixtures that consume a lot of energy and replace them with Energy Star products which have a higher energy efficiency rating. The program offers rebates on clothes washers, dishwashers, refrigerators, water saving toilets, air conditioners and others. Not to be left out The Gas Company also offers a few rebates of its own.Before you make that purchase, confirm that the appliances you are considering do in fact receive the rebates and pay close attention to the qualifying dates for redemption.This is a great program in which everyone bene... 07/10/2007

Find out what is happening in your neighborhood with regard to June home prices. How long are they taking to sell? Are they selling above, below or at asking price? Stay up2date on everything real estate.In addition to Pasadena, home sales are also included for Altadena and South Pasadena. 07/09/2007

I live on the border of San Gabriel, Pasadena and San Marino.  After my morning coffee and crepes (family tradition - my kids are used to starting the day on Sundays with crepes and nutella), I took a drive around the neighborhood.  Open House signs were everywhere.  Some corners had five or six different realtor signs pointing San Gabriel Valley buyers to their Open Houses.  It was quite a colorful sight.If I would have been a pedestrian, I would have been in major trouble.Now my take on Open Houses is simple.  They do NOT sell homes in most instances.  After holding hundreds of Open Houses, I have only sold 2 homes in the last 6 years that I could directly tie back with holding an Open House.   Why do I hold Open Houses?  Well... several reasons:As I put a new home for sale on the mar... 07/08/2007

My sister, Robin Neudorfer, is an artist and frequently paints or draws in the Pasadena and Altadena areas.  She posted something she did today on her blog and I am just blown away by how good it is.  I'd like to share it with the world and this seems the best, if unusual, way.  Check out her blog and her website.  If you aren't familiar with Pasadena and Altadena her work will give you a feel for how beautiful our foothill area can be.  06/30/2007

 You have probably heard the phrase "I live on the upper east side"? I bet you did not know that it referred to Upper Hastiings Ranch, which is Pasadena's northeasterly neighborhood. Most of the homes in this area were constructed between 1950 to 1955 and just like its neighbor to the south Lower Hastings, most of the architectural styles exhibited are California ranch, dominated by 3 bed / 2 bath homes with front or side entry garages. The area offers hilly terrain and close up views of the San Gabriel Valley Mountians.Prices for single family homes in Upper Hastings are fairly consistent with the median price of home's in Pasadena. There are currently eight houses under contract, and while the median price is in the range of $780,000, ocassionally a house will appear for sale in the m... 06/27/2007

You've seen them, there all over town, typically on Saturday and Sunday afternoons signs are on every street corner. Some have balloons, some have flags. Some even have a picture. There "Open House" signs and they are a viable component in helping to sell a house. Many prospective home buyers drive through the neighborhoods they want to live in, expecting to see the signs that will guide them through twists and turns, eventually to the house that is for sale. A quick survey of "open House" attendees indicates that many more people see the sign as opposed to the newspaper ad announcing the event.First a big "Thank You", to our elected officials here in Pasadena. We do not have a sign ordinance. I guess our City Housing Inspection Report makes up for it, but nonetheless, no sign ordinance... 06/25/2007

If you have been looking for homes throughout Pasadena and have decided that a hundred year old home is not for you, then welcome to Lower Hastings Ranch. Any frustration you have experienced with the Pasadena housing market, just might end here. Most of the homes in this area were constructed between 1949 and 1953, considered new by Pasadena standards. Architectural styles are typically California Ranch (do you think this may have had something to do with the name Hasatings Ranch?) and single level. The neighborhood is dominated by single family homes, however there is one small townhome complex with approximately 31 units and prices ranging in the low to mid $500's.Lower Hastings is characterized by larger than normal lot sizes in the range of 10,000 to12,000 square feet and also larg... 06/19/2007

                        As you exit the 110 freeway, Arroyo Parkway serves as the gateway into beautiful Pasadena. This summer, Arroyo Parkway is in for quite the landscaping facelift! What we know so far...The project (known as The Arroyo Parkway Enhancement Project) will be supervised by the Public Works Department and will commence this summer between Colorado & California Boulevards; we can already see some of the renovations taking place as you drive up and down Arroyo Parkway close to Colorado Boulevard. Completion of the overall project is set for the Fall. Imagine driving off the 110 freeway to the sights of this!                                                         This is one amongst a set of eight public works projects scheduled. Come to a Community Meeting to learn more a... 06/18/2007

Are you 55 or older?If so, you can save thousands of dollars each year in your home property taxes.  How?  Proposition 60/90!What is it?  How does it work?This proposition was passed to provide tax relief to senior citizens who sell their existing home and purchase a replacement residence worth the same or less than the original.In essence, if you are ready to sell your home and would like to down size into something smaller, maybe a condo or just a less expensive house, this proposition will carry over your current assessed real estate tax value.For example,      Your existing home is worth $750,000.       You bought it for $200,000.      You are probably paying somewhere around $2,500 a year in Real Estate Taxes.NOW, you are ready to downsize and are looking to buy a home for about $6... 06/18/2007

What: The Pasadena Chalk FestivalWhere: Paseo Colorado                                                                                                           280 E. Colorado Blvd.           Pasadena, CA 91101           (Between Marengo & Los Robles)            Murals on Garfield Promenade & Upper Fountain CourtWhen: Saturday 6/16/07 & 6/17/07           10 A.M. to 7 P.M. What is it? It's the world's largets street painting festival! Various artists from all across Southern California will be there to draw spectacular murlas using sticks of pastel chalk. And their canvas? Pavement covering two city blocks! This event is now in it's 15th year and is open to the public free-of-charge!For more information you can visit: www.pasadenachalkfestival.com Here some samples of great art produced... 06/16/2007

The Levitt Pavilion in Memorial Park85 E. Holly St., Pasadena(626) 683-3230    www.levittpavilionpasadena.org7:00-8:00 pm Wednesday - Sunday   - FreeJune 22 - September 2Wed.       - Children's Night 7:00 pmThurs.      - World Rhythms 7:00 pmFri.          - R & B 8:00 pmSat.         - Musica Latina 8:00 pmsun.        - Jazz Night 7:00 pm  Visit the web for details. Garfield Parkon Mission St., east of Fair Oaks, So. Pasadena(626) 285-2171   www.ci.south-pasadena.ca.us7:00-9:00 pm Wednesdays - FreeJune 24:      SwingsationsJuly 15:       The Answer - Classic RockJuly 22:       Louie Cruz Beltran - Latin JazzAug 5:         The Gratefull Dads - Rock & RollAug 12:       The Silverados - CountryAdditional concerts in the area:Pasadena, CA - Garfield Park & The Levitt PavillionLa Canada, CA -... 06/14/2007

According to the Real Estate Publication Real Trends the amount of money you pay to sell your home is on the rise. Due to the slowing market, real estate agents claim they have to market homes more aggressively in order to get them sold. A quick read between the lines interprets this to mean they have to spend more of their own money. What should you expect to pay when you list your home for sale?A quick recap of the 115 homes sold in Pasadena for the month of May indicates that Buyers Agents (an agent who represented the Buyer in the transaction) were paid the following amounts:In order to interpret the chart, we need to make some assumptions. Typically a listing agent (representing the seller) will offer as compensation, 50% of the fee to the Buyer's Agent. A commission of 2.5% probab... 06/14/2007

Time to get out the crystal ball or the Ouija Board and make some sense of what is happening in the Pasadena Housing Market. Sales results for May indicate that fewer homes are being sold this year versus last, and down considerably when compared to May 2004. It is also taking longer to sell a home today than it did just 12 months ago.One thing I learned early in my career is that you can spin data in any number of ways to get a desired effect. When you look at fewer homes being sold and the ones that are being sold are taking longer to sell, I have a hard time supporting the theory that prices are still going up. The other justification is that in May ‘07 houses sold for 98.6% of their asking price as compared to May ‘06, when they sold slightly over asking price at 100.45%.To understa... 06/07/2007

Looking to pick up a bargain? This could be your weekend. There will be an auction this Saturday, May 19 in Los Angeles by a company known as Real Estate Disposition Corporation. They just held an auction in San Diego this past Saturday and will also have one on Sunday, May 20th in Riverside. Click the link for all of the details and property information. A quick glance at the list identified three properties in Pasadena. 05/14/2007

Last week, I reported on the April sales numbers along with the inactivity we were seeing in certain area's and price ranges. These numbers appear to confirm my suspicions. The activity in the lower price points, namely $500,000 to $599,000 was very weak. There are more houses available for sale than there are buyers willing to purchase."It was the best of times, it was the worst of times"The worst of times is an over dramatization, but it is illustrative of what is happening on the other side of the coin. If you have a house valued in excess of $1,000,000, then the market is fairly active. No sub-prime lending woes here.What does this all mean? Well, I suppose you could theorize that the move up market could eventually be impacted if houses aren't selling at the lower levels. It seems ... 05/07/2007