Usually the first room to target in a remodel is the kitchen. After all, this will be the primary gathering place when you entertain or get the kids ready for school. Options are endless, go budget or budget buster complete with all of the latest high end stainless appliances. Or opt for the retro approach to create a warmer environment with character and charm.

If a fireplace is the center or focal point of the living room, then the stove must inherit the same traits in the kitchen. While most attention turns to the shiny new stove with the over-sized knobs, one option overlooked is the old vintage stove from years past.

Every once in a while while searching for a home to buy, one of these old gems will appear. Many times it will be in a house which has been occupied by the same owner for the last 40+ years.

The Easter Egg

Software companies refer to the hidden features or bonuses in their products as Easter eggs; bonuses you do not expect but which add an additional level of excitement or value to the purchase.

Purchasing a home and becoming the proud new owner of an old Wedgewood or O’keef & Merritt stove is an exclusive club and membership is limited. They just don’t make them anymore.

Chances are, if you acquire membership in the club, your new stove may need to be serviced. Several years ago, I gained membership by purchasing a house in Pasadena. A company in Los Angeles, Antique Stove Heaven offered a service call whereby they would come to the house, give it a check up and put it through the paces.

There is probably a good chance you have seen some of these stoves on television as they have been featured on various programs and sitcoms. Many of these have been restored with new paint and have an amazing look and quality to them. It can definitely add a unique perspective along with a tremendous amount of character to your home and kitchen.

If you want to keep track of the Pasadena real estate market, see our post on the latest home sales in Pasadena.

The post Heating Up Home Sales appeared first on Pasadena Real Estate.

Many other cities refer to the weather and state that if you don’t like it today, wait untill tomorrow. That doesn’t really apply here in California, since our weather is so constant.

However I guess we could apply the same axiom to prices, namely gas and real estate.

We know gas prices are always moving up or down, and apparently real estate is no different. From steep declines only a few years ago, to a market that levels off and shows very little change in the last few years to today, where prices and demand are exhibiting signs of 2006 again.

Big Differences in Buying or Selling

In Professional Sports there is generally a huge difference if you are the Home team. From a couple of runs in a baseball game to several points in football.

Buying or selling a home is no different. If you are Selling in this market, congratulations and enjoy your home field advantage. You have earned it after the roller coaster ride of the last few years. If you are buying, be prepared you are coming onto the seller’s field, their stadium, their house. Be prepared to be the competitive underdog.

Sellers are enjoying a big advantage with low inventory and big demand. Buyers are not completely left out, due to the interest rate consolation, and their home buying dollar being stretched much, much further. But still face many obstacles such as multiple offers, higher prices and possibly finding creative ways to induce a seller with other concessions.

Anyway, the report is enclosed and would like to hear your feedback and your experiences.

Lastly, if you’re trying to buy a house, give us a call. We have some ideas on how you can eliminate the home field advantage and level the playing field.

Stay up2date on the Pasadena Real Estate Market with up2daterealestate!

The post Pasadena Home Sales and Market Activity appeared first on Pasadena Real Estate.

1035 Arroyo Verde is a very special property. With 1504 square feet and 3 bedrooms and 3 baths, this end unit property is ready for a camera shoot in Architectural Digest. The living room has raised high ceilings creating a wonderful feeling of space and openness. The hardwood floors are polished and have a new appearance. The fireplace can be used with gas or wood logs and has a glass tile front which compliments the overall decor of the home. A sizable half bath is also included on the main floor.

Unique lighting fixtures and window coverings also adorn the downstairs and add a sophisticated elegance.

The kitchen is spacious and warm with its dark cabinets, granite counters and stainless appliances. Plenty of counter and cabinet space which in other similar properties are always in short supply. The kitchen includes a gas cook-top and range along with a built in microwave.

Crown moldings and decorative baseboards accent the downstairs areas and provide details not commonly found in condominiums within this price range. The master suite features a small balcony area and walk in closet and the bath has been remodeled with dual sinks and low profile toilet. The crown moldings and baseboards are also found throughout the upstairs area which features two additional bedrooms and a shared full bath.

The property also features new double paned windows which were just installed this year, central heat and air conditioning, newer carpet and incredible rich wood simulated laminate flooring upstairs. There is a two car attached garage which provides direct access into the unit, which is very nice feature to have. The washer/dryer units are located in the garage and also includes a large storage area.

This complex consists of only 14 units with a monthly HOA fee of $175/month and includes water, trash and landscape maintenance. Pets are permitted, just inquire about the pet policy.

South Pasadena School & Area Information

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See more information on South Pasadena schools from Education.com

• Elementary {7}
• Middle {4}
• High {3}
• Preschool {1}

High Schools in South Pasadena, CA

3 High Schools found in the area.

School	Type	Grade Level	Enrollment	Students per Teacher
South Pasadena Senior High School Phone: (626) 441-5820 1401 Fremont Ave, South Pasadena, CA 91030	Public	9-12	1525	26
Almansor Center Phone: (323) 344-4290 1955 Fremont Ave, South Pasadena, CA 91030	Private, Special Education	3-12	144	12
Westbrook Academy Phone: (626) 441-1184 1605 Hope SW100, South Pasadena, CA 91030	Private, Alternative	10	2	2

Elementary Schools in South Pasadena, CA

7 Elementary Schools found in the area.

School	Type	Grade Level	Enrollment	Students per Teacher
Arroyo Vista Elementary School Phone: (626) 441-5840 335 EL Centro St, South Pasadena, CA 91030	Public	K-5	631	22
Marengo Elementary School Phone: (626) 441-5850 1400 Marengo Ave, South Pasadena, CA 91030	Public	K-5	672	23
Monterey Hills Elementary School Phone: (626) 441-5860 1624 Via Del Rey, South Pasadena, CA 91030	Public	K-5	533	20
Holy Family Catholic School Phone: (626) 403-6159 1301 Rollin St, South Pasadena, CA 91030	Private	K-8	318	20
Almansor Center Phone: (323) 344-4290 1955 Fremont Ave, South Pasadena, CA 91030	Private, Special Education	3-12	144	12
St James Parish Day School & Kindergarten Phone: (626) 799-6906 1325 Monterey Rd, South Pasadena, CA 91030	Private, Early Childhood Program/Day Care Center	PK,K	123	8
Holy Family School Phone: 1301 Rollin, South Pasadena, CA 91030	Private	K-8	317	22

Middle Schools in South Pasadena, CA

4 Middle Schools found in the area.

School	Type	Grade Level	Enrollment	Students per Teacher
South Pasadena Middle School Phone: (626) 441-5830 1600 Oak St, South Pasadena, CA 91030	Public	6-8	1054	26
Holy Family Catholic School Phone: (626) 403-6159 1301 Rollin St, South Pasadena, CA 91030	Private	K-8	318	20
Almansor Center Phone: (323) 344-4290 1955 Fremont Ave, South Pasadena, CA 91030	Private, Special Education	3-12	144	12
Holy Family School Phone: 1301 Rollin, South Pasadena, CA 91030	Private	K-8	317	22

Preschool Schools in South Pasadena, CA

1 Preschool Schools found in the area.

School	Type	Grade Level	Enrollment	Students per Teacher
St James Parish Day School & Kindergarten Phone: (626) 799-6906 1325 Monterey Rd, South Pasadena, CA 91030	Private, Early Childhood Program/Day Care Center	PK,K	123	8

The post South Pasadena Condo For Sale, 1035 Arroyo Verde Road appeared first on Pasadena Real Estate.

Hot Water Heater w/ Watts 210 Valve

Prior to the close of escrow a homeowner must obtain an Occupancy Certificate. According to the website some of the items to be examined include electrical, plumbing and heating systems, structural hazards and other health and safety items. Also zoning concerns such as illegal building additions, garages, attics and basement conversions to dwelling spaces are also checked.

Added an east wing to your house? Converted your garage into a studio apartment? These are major no-no’s.

How about some of the more common but less costly penalties?

This may include a hot water heater which has been added without a permit. That’s right, that new hot water heater you had installed last year will cost you approximately $90 in permit fees.

One of the other major infractions is one you probably don’t know about and will catch you completely off guard. That big shade tree which has been there for the last 30 years and was there when you bought the house. It has now matured to the point where the tree roots have grown under the sidewalk and have lifted it up causing the pavement to become very uneven along with being a potential safety hazard.

The City has your number here as well. When you make the initial application, your contribution (fine) will have already been uploaded into the system informing you of your amount due. Just think, if the City could somehow be that efficient and synchronize the traffic lights on Green St., Colorado Blvd., Lake Ave., Walnut, etc., etc. Oh well, we can dream can’t we?

How to Pass Go

The inspectors I have had the opportunity to work with are always very courteous and helpful. They even provide you with an evaluation form to mail in. They are not there to burden you with a hardship. The number of violations you receive will determine how you proceed towards the approval and the eventual occupancy certificate. If none exist, you will receive it on the spot. Minor violations depend upon your good word signifying the corrections have been made. Major violations may require additional work, or may require you to obtain permits. Chances are you will have a re-inspection.

Plan Ahead

The California Residential Purchase Agreement states who will be responsible for procuring the certificate. Ask your real estate agent about this. We always like to do it in advance to eliminate the possibility of surprise and know the facts beforehand. It certainly helps when we begin negotiating with a home buyer.

The post Selling Your Pasadena Home? Did You Know.. appeared first on Pasadena Real Estate.

I was out the other day delivering our most recent neighborhood newsletter “Street Talk”. I have tried the direct mail approach, but this time I thought I would get out amongst the people. Much easier to associate the name with the face, right?

After recently delivering several hundred flyers, there are several things I have noticed about my neighborhood here in Northeast Pasadena that I have found interesting. I don’t think I have uncovered any demographic data Nielsen would pay for, but nonetheless, I found it rather intriguing.

In no particular order of importance:

• Pets – a lot of people have pets, primarily dogs. And not just one. In many cases, Fido has a playmate and do they go crazy when you get close to the house. They will stand up and paw at the window, already covered in dog lick. They so viciously attack the front door that I have a new found respect for our postal carriers. I wonder if I carried a blue bag if that would throw them off?
• Door Mats or Welcome Mats – I would say this is pretty evenly split between the have and have not’s. About half of the homes do have a door mat at the front entry. Rubber seems to be preferred over the coir mats. Some are decorative, some oversize, some are festive and bright while others deliver a more grim message… go away. How can a welcome mat, be a welcome mat if it says, Go Away?



• House decorating – this is a mixed bag. The majority of homes are void of any kind of celebratory message. A couple still had Christmas decorations, a few were putting out Valentines and one still had Halloween. Still have Halloween decorations? That’s spooky.
• The Front Door – the front door is where the homeowner has an opportunity to create the personality of the home. Wood doors are preferred over the fabricated ones, but whatever your material preference, color reigns supreme. They come in all colors, just like iPods. Green, Burgundy, are tried and true. Etched glass or no glass, even red, white & blue. One item not too often seen was a door knocker. This offers a way to accessorize your front door. Jewelry or bling designed to speak to the fashionista in you.
• No Soliciting – and finally it just wouldn’t be right if you could not express yourself in free speech. One occupant even decided to go one step further and post this …”No Bible Thumpers”. Yes, it is the dumb asses that give this country so much character.

I wonder what they think of real estate salespeople?

The post Street Walker Confessions appeared first on Pasadena Real Estate.

What could Google possibly have to do with the successful sale of your home? Does your prospective agent have any Google presence? Should you be concerned if they don’t?

I’ve seen numerous articles written on the questions to ask and how to interview an agent to sell your home. It kind of reminds me of a Presidential news conference. The questions sound probing and intuitive, but the responses are easily canned and preplanned. They sound intellectual and authoritative, but can easily mislead someone unfamiliar with the industry or subject matter.

We market your property across many platforms

With 80% to 90% of home buyers beginning their home search online, a better strategy would be to focus on the prospective agents understanding of the internet, including search optimization and how they plan to effectively market to those people that are looking online.

Why Google

By typing your agents name into Google you will quickly find out what kind of internet persona they have. You may also discover that it is nonexistent. You will notice which social networks they utilize and if they have their own website. Or do they have only a single entry under their brokerage name, implying very little knowledge of the marketing process?

The reason for this is simple. If Google shows a longer resume, then you can bet they understand more about the internet and how to utilize it to the benefit of their clients.

Ask your agent…”What are you doing to insure my listing is optimized in the Search Engines? Sometimes the simple, direct approach is best. You will find out very quickly their knowledge of how to market your property on the internet.

Search Engine Optimization

Search Engine Optimization refers to the visibility of having a website or a posting on the internet, and how quickly it can be found and what kind of traffic it generates. For instance, when a house is listed for sale, increasing the visibility affects how many people will see it. The more people it is exposed to, the greater likelihood of multiple offers being received.

Imagine a highly optimized internet presence for your home compared to a “for sale by owner” who only markets the property by installing a sign in the yard. Unfortunately many agents don’t have an understanding of the “search” process and the way they market a property amounts to a lowly “for sale” sign.

The internet has rapidly changed the real estate industry and offers many advantages for the agents and brokers who understand how to use it to their advantage. The internet also had a very negative and damaging affect on travel agents. Many have gone out of business, since you can now make your own reservations , select seats and find the cheapest fare.

You wouldn’t trust your most expensive asset to a travel agent, would you?

The post Google the Name of Your Real Estate Agent appeared first on Pasadena Real Estate.

Tweet your home to @Pasadenaup2date

Unfortunately, so much real estate copy used to describe properties for sale is the same old regurgitated line after boring line. It’s pretty much a rehash of the obvious. If the pictures tell the story, then why do different pictures keep telling the same story?

If you were in the market to buy a home, would your perceptions about the property change if you read details which allowed you to picture yourself coming home from the office to your new home? What if the information was used to create a new impression or lifestyle of how your life was about to change?

When entering a new listing, too many real estate agents sell the steak and forget the sizzle, when in fact it should be the opposite. For example, most descriptive copy used to describe a master bath says something similar to …spacious master bath, includes high ceilings, whirlpool tub, walk in closets and dual vanities.

Instead, what if the explanation were something similar to….It’s 9pm and you have just returned home after a business trip. Waiting for you in your own private retreat is a hot relaxing bath. The tub is so big you can almost swim in it. As the soft music plays in the background and the candle lights flicker, you anticipate tomorrow and eagerly await the new opportunities that lie ahead.

Unusual, perhaps. Strange, could be. More interesting reading…ABSOLUTELY!

May the Best Tweet Win

Whoever submits the best 140 character story line wins a $20 iTunes or Starbucks gift card. Your choice. Send those tweets to @Pasadenaup2date, and for convenience here is my Twitter profile. Contest closes on Monday, January 28th, 2013 at 5pm pacific time.

The post Describe Your Home in a Tweet appeared first on Pasadena Real Estate.

Taped television has the benefit of the “edit”. Simply put …everything looks easy and it always works out just as you had planned in the end. After all, Tiger Woods makes the game of golf look so easy and in the process serves as motivation to hundreds of weekend golfers willing to spend 5 hours searching for that one shot that will bring them back next weekend.

Real estate fantasy programs are no exception. The money guy drives around in his expensive automobile, making those around him appear to be unqualified and just hoping they can hang on until their lunch break. Looks easy doesn’t it?

Real estate buy low and sell high (hopefully) productions pull us in with the drama and keep us there. At first, there appears to be no downside to the increasing upside potential of the property in question. It’s so easy, why don’t more people do it? However, once the patient is put on the table and the cutting begins, the drama begins to unfold, and the cash infusion is administered.

The continuing deterioration captivates us as we sit there and sweat through the accounting details as the budget nears exhaustion. If the Kardashian’s put on hard hats and tool belts, the theatricals they produce in one hour still couldn’t compare. This is sit on the edge of your seat intensity as the interim owner begins to contemplate the safe return of a money market investment. That 1% annual return is beginning to look very attractive.

Account for the Unexpected

By most accounts, real estate investors, flippers, or speculators appear to be doing quite well in this market. I hesitate to refer to them as investors. My understanding of the word “investor” is someone who buys and holds, while a speculator is someone looking to make a quick profit. You say to-mate-o, I say to-mott-o.

The “we didn’t expect that” moment usually comes in the form of some hidden unexpected cost. Be it mold, termite, asbestos, drainage or dealing with the city building department, you can count on it just as sure as Tiger Woods will birdie the 18th hole on Sunday

If you have been involved in any remodeling or know someone who may have been, then you know what I am about to say.

You will always spend more than you planned. It’s one of the universal truths of remodeling.

The best way to protect yourself is to figure in cost overruns of 20%. If you come in under that, proceed to GO and collect your payday. If not, you averted the surprise attack and anticipated it.

Oh and those TV shows, I am always amazed at how cheaply they are able to do things. They need to publicize the name of their accountant.

The post Real Estate Flipping for Dollars appeared first on Pasadena Real Estate.

Pasadena Short Sale and Foreclosures 2010 – 2012

I have included a three year history of Pasadena Short Sales and Foreclosure home sales. There was a point when the “short sale” and “bank owned” categories were added to the Multiple Listing Service and became mandatory disclosures when entering a new listing. The data source for this particle article is the i-Tech MLS.

Click on the chart and expand to full page view.

In a recent post, I summarized the last 5 years of home sales in Pasadena along with median prices and prices per square foot. I pointed out that 2012 was the best year for home sales in Pasadena based upon the number of homes old. From the new chart you can easily see that 2012 was a banner year. What you also see however, is the median price of a Pasadena home is not changing. In fact it has been very steady for the last 3 years.

What is changing is the number of “Short Sale homes that are being sold. There was a 21% increase in the number of Short Sales in 2012 compared to 2011, with only a 14% increase in the total number of homes sold. This seems to correspond with most reports that banks are more willing to allow homeowners to do a Short Sale as opposed to a foreclosure. What is more revealing is that as a percentage of overall home sales, Short sales are running about 12% of overall home sales for the three year period.

Bank Owned Home Sales Declining

Where most of the change is occurring is in the “Bank Owned” category. Even though the number of “Bank Owned” unit sales have not really declined, they have declined as an overall percentage of home sales. In 2010, “Bank Owned” sales were 14% of the overall market and in 2012 they have declined to 8.6%.

In 2012 total distressed property sales declined to 21% of the overall Single Family market in Pasadena. One in five homes sold was wither a “Short Sale” or “Bank Owned” property. So there has been considerable improvement from 2010 when 1 in 4 home sales was a distressed property.

You will continue to see these numbers trend in this direction with “Bank Owned” sales declining and “Short Sales” gaining a bigger percentage of the overall “Distressed” market.

Sales Increase in Pasadena Short Sales

There have been many improvements to the Short Sale process. Bank processing times have become much shorter as well as becoming more proactive in suggesting and assisting consumers with this process. Some lenders have been very proactive in pre-qualifying and approving candidates for Short Sales and increasing their relocation assistance.

As to what the future will bring, it’s difficult to predict as loan modification and pre-foreclosure times seem to be on the increase.

The post Pasadena Short Sale and Foreclosure Home Sales appeared first on Pasadena Real Estate.

Pasadena Home Sales – Median Prices and Price per Square Foot

Fast forward to 5 years later. Most reports indicate the housing market is turning around, consumer confidence is on the upswing and better days are ahead. Where are we now compared to the last five years? (click on any chart to expand it)

Median Price and Price/Sq Ft for 5 years

The blue line represents the median home price in Pasadena by month. The numbers on the left represent ($000′s). Beginning in January 2008 the median price was approximately $650,000, before reaching $775,000 in May 2008. Now contrast that with the price per square foot represented by the green bars. January ’08 saw a price per square foot of almost $525, but dropped to almost $475 in May’08, while both declined steadily through the end of the year.

2008 began a roller coaster ride to the bottom as median home prices and prices per square foot seesawed back and forth in 2009 and 2010.

Pasadena Home Sales – Units Sold and Inventory Levels

A couple of good indicators to the rise or decline in housing vales is the number of homes being sold and how may homes are for sale.

This chart has a couple of different axis points to indicate what is being tracked. The deep blue or purple line represents the number of homes (units) for sale over the 5 year period with the scale on the left. In January of 2008, about 525 Homes were on the market, compared to October 2012 and approximately 125 units.

The number of homes in escrow as well as the number of homes “sold” are referenced on the right. In June of ’12 we had the highest number of homes in the last 5 years being sold and entering the escrow process. Also in 2012 we have more months where unit activity has been around +90 units or more.

Pasadena Home Sales – Annual Units

Low Interest Rates have helped increased housing sales

This year will definitely be Pasadena’s best housing year in the last 5 years. Just as national reports indicate a turnaround in the housing market, the local numbers are indicative as well. I have taken the liberty to forecast the remaining couple of weeks of December and It appears Pasadena will report an increase of 12.5% in actual unit sales over 2011, and clearly 2012 will be on the books as the best year for Pasadena housing since the market declined.

Pasadena Home Sales – Market Summary

Any presentation of day should beg the next question….”So what” ?

Two comparisons here we should take not of. As you can see, Pasadena home sales are still a ways off from year 2008 in terms of median sale prices & prices per square foot. However 2008 was a market in decline. Just as prices rise slowly, they fall slowly as well. Didn’t someone say something about “for every action there is an equal and opposite reaction”? The one big change over the last 5 years is that 2008 was a Buyers market, and 2012 has definitely been more of a Sellers market.

The housing market stabilized in 2011 as evidenced by the declining number of homes for sale with inventories being much more consistent throughout 2102.

The big factor was 2012 produced more months where home prices consistently maintained an average of $400 per square foot, something we did not see in years 2009 – 2011.

As comparison analysis are based on year over year, 2012 was a very positive year for the housing market in Pasadena.

As with cycles, I believe the next few years will be positive as well. It took several periods for housing to finally hit bottom, stabilize and then turn positive. If you are waiting for a return to the glory days to sell your home, I think you may still be in for a wait as price appreciation will much more likely be steady but at a much slower pace.

Share your thoughts and opinions with us. What are your thoughts?

The post Pasadena Home Sales 5 Years After the Fall appeared first on Pasadena Real Estate.