Pasadena, CA Real Estate News

Real Estate Market Report West San Gabriel Valley           June, 2009 Pasadena, Altadena, South Pasadena, and San Marino    Market Index   - .0.49, up 4 points A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market. This is the 4th consecutive monthly increase.  Last year the index was 0.28.   New Listings - 177 new listings, down from last month's 204.  Last year there were 234.    Pending Listings - 112 listings opened escrow, compared to 151 last month, versus 107 last year.                                                              Pending Ratio - 0.63, down from 0.74 last month, up from last year's 0.46 pending ratio.   Listing Inventory - 616 active listings, down from 694 last month.  Last year we had 88...
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By Dawn Rickabaugh, Note Queen
(Dawn Rickabaugh (Note Queen) Owner Financing Consultant)
I’ve been working on developing an ezine (’Seller Financing on Steroids’) as well as a simple decision making guide for people to use.  I finally got the first draft up, and I’d really appreciate any feedback, especially on how I can improve the Decision Making Guide. The reason I started developing it was because I was spending a lot of time communicating with people by phone or email.  I finally realized that most of them would have 75% of their questions answered before they ever got to me if they just had a simple tool to help them filter out all the possibilities and narrow it down to a few tools that would probably help them with their specific real estate situation. Sign up for ‘Seller Financing on Steroids’ and the ‘Seller Financing Decision Making Guide’.  It will answer many ...
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Today's Real Estate market in the Pasadena area, as well as all over the country, is so frustrating to both buyers and sellers.  We need to educate our clients so they can understand the frustrations of pricing homes, going after shortsales and REOs, and the loan challenges currently facing all buyers.  My objective is to put all these issues on the table, before we start to negotiate
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By Dawn Rickabaugh, Note Queen
(Dawn Rickabaugh (Note Queen) Owner Financing Consultant)
It’s hard to keep covered against the chill winds of the market sometimes.  Perhaps it’s possible to get a nice, thick sheepskin warming the front half of your body, but investors, builders and developers are increasingly finding their backsides completely exposed to the elements . . . brrrr! If you’re a real estate investor, investing in shorts sales and REO’s, how can you keep clothes on both sides of your body simultaneously?  Is there a way around the seasoning issues that hang these deals up? What in the heck am I talking about? Here’s a typical scenario: Investor buys REO bank foreclosure for 50 cents on the dollar or less.  They get a great price (that’s the sheepskin in the front), but they’ve used hard money at 12% with a 1 year balloon, so they need a quick exit strategy. That...
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By Dawn Rickabaugh, Note Queen
(Dawn Rickabaugh (Note Queen) Owner Financing Consultant)
I recently received this email: “Dear Dawn, I saw your recommendations in the Tribune article on waiting for Recovery. My question to you is should we sell our home now or next year? We bought this home 7/2007 for $950,000.  We have spent $150,000 plus. The last project is to have the outside of the house painted, which is scheduled for July. We have been told that we could probably sell for $950,000. The lot is about ¾ acre, the house is about 2500 sq feet. We realize we are losing money and our proposition 60 taxes.  But the lot has proven too much for us.  We would expect to buy a replacement home for about $850,000. Our property taxes will increase ($6,000 to about $11,000 a year).  We will look for the same size house, but a smaller piece of property in the same city. If we wait, r...
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By Dawn Rickabaugh, Note Queen
(Dawn Rickabaugh (Note Queen) Owner Financing Consultant)
Yes!  It’s very common for business owners to carry a portion of the sale when selling a business, and frequently, the note can be sold after 6 months of seasoning (this can be less in certain circumstances). People selling business notes need to understand that typically, there are significant discounts involved, so if you’re not prepared for a 20%-50% discount (depending on all factors involved), then you’d be better off waiting out the term. To set up your note and transaction ahead of time so you have a note worth as much as possible, you’ll want to consider hiring me to help you put your deal together. The basic info I’ll need to start working on your business note: type of business location (city & state) sale date how note created (seller carryback?) sale price down payment origi...
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By Michelle Minch, Home Staging Los Angeles and Pasadena, CA
(Moving Mountains Design Home Staging, Pasadena, CA)
Model Home Staging A Pasadena Townhome A couple of weeks ago, I was contacted by a very upset Pasadena builder. It seems the home staging company they had hired earlier, had sent them an email that they would not be able to stage the builder's model the following week. She asked if I would be able to stage a model home in time for the scheduled open house and do it within their budget. Of course I said yes! Read more: Home Staging a Pasadena Townhome Southern California home staging company Moving Mountains Design offers vacant home staging, occupied home staging, model home staging and home staging consultations in Los Angeles, Pasadena, Arcadia, Encino, Long Beach and throughout Los Angeles County. Contact us via email or by telephone (626)441-8975 to learn how we can help you prepare...
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By Dawn Rickabaugh, Note Queen
(Dawn Rickabaugh (Note Queen) Owner Financing Consultant)
I recently consulted with a couple who are renting a home in Pasadena.  They own a home in Tujunga, but instead of selling it when they moved last year, they decided to rent it out, even though it represented a negative cash flow of $500/month. Why not wait to sell until the market ‘recovers?’ Their loan broker referred them to me when he realized what they were trying to accomplish would be impossible through conventional means. Given the economy, and the fact that his wife was struggling to build a new business for herself, they wanted to refinance the home (now investment property) so they could pull out $20,000 to put in savings for a rainy day.  It would also help subsidize the negative monthly cash flow. They bought the home for $250,000 and refinanced to a loan amount of $315,000...
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By Michelle Minch, Home Staging Los Angeles and Pasadena, CA
(Moving Mountains Design Home Staging, Pasadena, CA)
Do smart landlords and property managers hire a home stager to stage Los Angeles rentals?                   Yes, because they understand the value of having a beautiful guest house, apartment, condo or townhouse to show prospective tenants. It works the same way as home staging when selling a home. The better the rental looks, the more tenants you will have to choose from. Nicer people want and will be attracted to a nicer place to live. It’s that simple. As a smart landlord myself, and a professional home stager in Los Angeles, I always stage my rental properties in hopes of attracting the best tenants. Read more about hiring a home stager to stage Los Angeles rental property Los Angeles home staging company Moving Mountains Design, stages homes and rentals in Los Angeles, Pasadena, Ar...
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By Jodie Miller, Realtor, KW, Pasadena
(Keller Williams Realty)
It's been a good year professionally for me, but rough emotionally, as anyone knows me well can attest. My father passed away recently after a long, and then abruptly sudden, illness.  He was surrounded by friends and family. He was home for his last week on earth, which was both a blessing and a terrible burden.  His comfort and his care were in our hands, and so our hands were trembling a lot.  More than once, I found my eyes meeting my mother's eyes and the weight of what we had to do was palpable.  It was present.  It was bad.  It was exhausting. But like all Truly Bad Things, it came with a nice thing sidecar. Through medication schedules and feedings and washings and diaper changes, I'm not sure how we slept or ate.  I just know that food showed up and the nap was offered and some...
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By Fran and Rowena, La Canada Realtors - (818) 952-0077
(Dilbeck Real Estate)
If you live in and around Pasadena, California no doubt you are familiar with the annual Pasadena Showcase House of Design. What began as a fundraiser in 1965, is now hailed as "the largest, most successful and one of the oldest house and garden tours in the U.S." Since 1948, over fifteen million dollars have been awarded in gifts and grants as a direct result of their efforts. This year's event starts on April 19 and goes through May 17. Each year, the volunteers at the Pasadena Showcase House for the Arts (formerly known as The Pasadena Junior Philharmonic Committee) select a house (translation: estate property) in the local area. The house is redone room-by-room, with each room decorated by a different designer who donates their time, efforts and materials. The gardens are also divid...
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By Dawn Rickabaugh, Note Queen
(Dawn Rickabaugh (Note Queen) Owner Financing Consultant)
Creative financing, creative property viewing . . . it's all good. Realtors need an increasingly diverse skill set to compete in today's market!
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By Michelle Minch, Home Staging Los Angeles and Pasadena, CA
(Moving Mountains Design Home Staging, Pasadena, CA)
There just aren't enough superlatives to describe the Pasadena home we staged last week. This is an owner occupied staging and we were fortunate to work with the homeowners beautiful furnishings. We added artwork & accessories from our extensive inventory. Here's the brochure for the home:                                           Contact the listing agent, Gerard Current at (626)893-5700 for more information about this magnificent one-of-a-kind home. You can also visit the web site www.524SouthGrand.com To read more: Pasadena Home Staging - Luxury Living At Its Best The home will be open this Thursday, April 2, 2009 for Brokers Caravan and thereafter by appointment. All photos were taken by Michelle Minch ©2009 Michelle Minch and Moving Mountains Design   Michelle Minch is an award win...
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By Michelle Minch, Home Staging Los Angeles and Pasadena, CA
(Moving Mountains Design Home Staging, Pasadena, CA)
Staging An Occupied Pasadena Home With Art & Accessories Here's some photos from our latest Pasadena home staging project. Moving Mountains Design was hired by the homeowner/listing agent to "add the icing" to this beautiful home. As this was an occupied home staging, we used the homeowner's existing furniture and some accessories, and brought in art work, silk plants and additional accessories from our extensive inventory. We were very fortunate that the homeowner had some lovely pieces for us to stage with.                                                                                               ©2009 Michelle Minch & Moving Mountains Design - We know what makes homes sell! Michelle Minch is an award winning designer and Los Angeles home stager.  Please visit our Los Angeles home ...
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I think it is time to toot my own horn. I have helped many homeowners and I just wanted to show this letter from a client I helped get his first home last month. March 25, 2009 Dear Mortgage Shoppers, SUBJECT: JUAN CEPEDA, MORTGAGE BROKER We would like to quickly tell you about our excellent experience working with Juan Cepeda as our mortgage broker. My wife and I recently bought our first home, and Juan Cepeda got us a very low 30-year fixed mortgage rate. Before we found Juan, we were working with a major bank and an independent mortgage broker discussing rates and terms. Since we were not totally satisfied with what either the bank or broker were able to offer, we came across Juan’s web page and sent him an email. He quickly gave us all the information that we wanted, and explained w...
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West San Gabriel Valley      February  2009 Pasadena, Altadena, South Pasadena, and San Marino   Market Index A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market.    The Market Index continued to drop to 0.20 from 0.22, compared to 0.15 last year.   New Listings - 204 new listings, even with last month's 199.  Last year there were 256.    Pending Listings - 88 listings opened escrow, compared to 77 last month, versus 67 last year.    Pending Ratio - 0.43, up from 0.39 last month, up from last year's 0.26 pending ratio.   Listing Inventory - 797 listings on the market, up slightly from 770 last month.  Last year we had 859.   Sold Listings -75 properties sold, down from 93 last month.  Last year 65 homes sold.  ...
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By Irina Netchaev, Pasadena CA Real Estate
(Pasadena Views Real Estate Team, Inc.)
It's been an interesting couple of weeks. I've been getting multiple phone calls from home buyers finding my real estate websites and contacting me for more information on homes that they are interested in. That's great! Except for, most of these home buyers are doing research for their part time real estate agents. The phone call goes something like this: Scenario #1 Home Buyer: Hi, I wanted to get more information on 1234 Main Street. I saw it on your website and wanted to see if you can show it to me. Me: That's great. I would love to help. May I ask you, are you currently working with a real estate agent? Home Buyer: mmm... yes... but, my real estate agent doesn't have time to show me the home. He or she is very busy. Can you please schedule an appointment for me. Scenario #2 Home B...
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By Michelle Minch, Home Staging Los Angeles and Pasadena, CA
(Moving Mountains Design Home Staging, Pasadena, CA)
LinksPasadena Home Staging InfoLos Angeles Home Staging InfoPhoto GalleryLos AngelesArcadiaSilverlakeSanta MonicaKoreatownArcadiaSan MarinoSilverlakeDescriptionIf you are thinking of selling your Los Angeles or Pasadena home, staging by Moving Mountains Design will help you get your home in top market condition. When you put your Los Angeles home on the market, you are entering it in a beauty contest. The best looking homes sell faster and for a better price. Home buyers today are looking for turn-key homes, homes they can move into without having to invest money in painting, carpeting and repairs. Moving Mountains Design home stagers will help you get your home or listing into tip-top shape and enhance it with furniture, rugs and accessories so that potential buyers will choose your ho...
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West San Gabriel Valley      January  2009 Pasadena, Altadena, South Pasadena, and San Marino   Market Index A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market.    The Market Index crashed back down to 0.22, down from  0.33.   New Listings - 199 new listings, almost double the  105 from last month. Last year there were 262.    Pending Listings - 77 listings opened escrow, compared to 65 last month, versus 55 last year.    Pending Ratio - 0.39 down from 0.62 last month, up from last year's 0.21 pending ratio.   Listing Inventory - 770 listings on the market, down from 605 last month.  Last year we had 776.   Sold Listings -93 properties sold, down from 133 last month.  Last year 73 homes sold.   Average Sales P...
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