Arcadia Home for Sale with Guest House Please visit www.PasadenaViews.com for more information and photos. 

Today, was one of sunny Pasadena mornings that is really difficult to fathom for anyone living on the East Coast given that we hit the highs of mid 80s on January 2nd.  But, this is what makes Pasadena so special and the Rose Parade, one of the most beautiful parades to attend.

Here are just a few photos to highlight today's 123rd Tournament of Roses Parade.  If you'd like to see more, please visit - PasadenaViews for more.

 

    Don't forget that you can view the floats after the parade at Victory Park. You can see all the floats immediately after the Parade from 1 pm until 5 pm and then again on January 3rd from 7 am until 5 pm. Please note that 7 am to 9 am is for special viewing needs admissions only. All regular admissions are from 9 am until 5 pm. Price is $10 per person. Please refer to parking instructions and directions to Victory Park at the official Tournament of Roses site here. READ MORE: Pasadena Rose Parade Float Viewing

Still trying to decide what to do for New Year's eve in Pasadena?  Here's a list of New Year's eve parties:

NYE 2012 at Noor
260 East Colorado, Pasadena
Celebrate NYE 2012 at Noor in the Ella Lounge with music provided by DJ Creativity. Your tickets price includes live DJ music all night, complimentary appetizers, open bar, party favors, and champagne toast at midnight! 8PM to 2AM Presale tickets: $85 $110 at the door. For more information, call 626.793.4518

Noor’s Sofia Ballroom will feature DJ Sets with live music by Sako. Family style dinner, open bar, party favors and champagne toast at midnight. Presale tickets start at $135. For more information, call 818.618.2348

NYE Last Supper at Vertical Wine Bistro - 
Upstairs at 70 North Raymond Avenue, Pasadena
Old Pasadena’s Vertical Wine Bistro is ringing in 2012 in style! Vertical’s Executive Chef and upcoming Top Chef Season 9 contestant, Laurent Quenioux has crafted an exquisite four course New Year’s Eve Last Supper menu. Its the perfect way to kick off the New Year. The prix fixe menu is $89 per person. Reservations are recommended. Call for more information (626) 795-3999

Historic 1922 Barcelona Building in Pasadena

Eco Friendly Townhome - Residences at Wilson

 

 

 

September 2011 Real Estate Market Report for Pasadena California Condos and Townhomes:

 

• There are 188 active condos and townhomes for sale in Pasadena California.  50 of these properties were listed in the month of September with an average list price of $603,800.  The volume remains similar to August’s numbers, but the condos and townhouses listed this month are substantially more expensive.  Luxury condo buyers have more choices.
• There are 80 pending/under contract sales and in the past 30 days there has been 38 closed sales with an average closed price $353,574 spending an average of 160 days on the market.
• YTD there have been 350 closed sales with an average sold price of $422,605 spending an average of 126 days on the real estate market.
  • Average price per square foot was $325
  • Average interior square footage – 1,296
• Highest  sold in September– $723,000  – 123 days on the market.  This was a conventional sale in the Residences at Wilson.  See photo above.
• Lowest sold in September – $159,000.  Another all cash sale – 1 bedroom and 1 bath.

READ Full Report here: Pasadena Housing Update for Condos and Townhomes September 2011

READ MORE: Pasadena Real Estate Guide - Everything You Need to Know to Buy or Sell Your Next Home

LOOKING FOR A HOME?  SEARCH FOR HOMES HERE

 

Interested in more information about Greater Pasadena Area cities, check out our City Guides below:

 

 Alhambra City Guide

 

 Altadena City Guide

 

 Arcadia City Guide

 

 Eagle Rock City Guide

 

 Monterey Hills City Guide

 

 Pasadena City Guide

 

 San Gabriel City Guide

 

 San Marino City Guide

 

 Sierra Madre City Guide

 

 South Pasadena City Guide

 

And, if you are interested in fun activities to do, take a look at our 365 Things To Do in Pasadena™ page.

 

Thinking of selling your home? Interested in finding out the current market value of your single family home, condo or investment property? Then call Irina Netchaev at (626) 629-8439 to discuss what is happening in today’s Southern California Real Estate Market.

 

 

September market statistics are out and it looks like Pasadena's inventory is slowly ticking up from the lows of August where we saw a drop to only 251 active properties compared to 321 in July.

We are still seeing many cash buyers and definitely some micro-markets in certain neighborhoods and architectural styles.

For a complete report, please visit Pasadena Real Estate - Single Family Homes Market Report where you'll see housing statistics for September and the previous months.

Here's a quick overview of year to date numbers:

• YTD there have been 657 closed sales with an average sold price of $765,005 spending an average of 112 days on the market.
  • Average price per square foot remains at $376
  • Average interior square footage – 1m982
• Highest sold in September – $2,048,000 million – sold in 113 days on the market.  This was a MidCentury Modern, a style of homes that seems to be “hot” and quite in demand recently.
• Lowest sold in September – $170,000 – 80 days on the market.  Another all cash sale.

Spectacular! What an absolutely spectacular estate perched at the top of Shenandoah in the hills of San Marino! Built in 1926 and designed by one of the great architects of the 20th century, Roland Coate, this San Marino gem is something to behold. Reminiscent of the stately manors and country houses found in Nantucket Connecticut or New York, this is one grand dames that will retain its charm for many years to come.

It's really one of the loveliest homes I've seen in awhile and it can be yours for $7,530,000.

Co-listed by Sotheby's and Coldwell Banker, listing agents offer us a bit of history:

Read History and More at Pasadena Real Estate Site.

Pasadena's housing inventory has hit the lowest point in 2011. And, we are not alone. Wall Street Journal just wrote an article stating that the national housing inventory dropped to the lowest point of the year in August- down 1.9% from July 2011 and 19% from same time last year (data used Realtor.com). Pasadena is definitely following the trend, but our numbers are quite a bit higher. Take a look at the data below:

July 2011 - 554 housing units

August 2011 - 533 housing units

3.8% drop in inventory from last month for Pasadena's real estate market.

Now, let's compare this to 2010:

July 2010 - 805 housing units

August 2010 - 803 housing units

That's a whopping 33% drop in available Pasadena homes for sale comparing same period year over year!

So what does this mean to you?

To answer that question, let's look at some additional statistics that will help us glean more information. Usually, when the housing inventory goes down, more demand is created and home sale prices go up. Here's where Pasadena real estate falls:

August 2010 - Average Sales Price $655,000

August 2011 - Average Sales Price $704,000

The price of a home sold in Pasadena increased by 7.5% from last year!

Even though there were less Pasadena homes available on the market this August, the number of homes actually sold this August was 21.3% higher - 114 homes (20 homes higher than in August of 2010.)

Wall Street Journal says "Normally, a decline in inventory would be a positive sign, but in the current market, that isn’t necessarily the case. Instead, low sales volumes and declining inventory suggests that there aren’t many opportunities for “price discovery.”"

I would argue this point in Pasadena. Obviously, Pasadena real estate has seen a bit of that "price discovery" looking at the increase in sales price and the number of units sold. However, being an active real estate agent and working with home sellers and home buyers daily, I would agree that we're seeing a lot of buyers and sellers still on the sidelines, trying to see if this is the right time to buy or sell.

My advice would be, if you are a home seller and do not see an absolute need to sell over the next 7 to 10 years. Hold on to your home. Pasadena is a very desirable area and prices will go back up.  If you do think that you might need to sell within the next few years, then now is the time. With the interest rates at the historical lows - a bit over 4% fixed for 30 years! - the buying power for home buyers is immense and they are out there shopping. Once the interest rates go down and the potential "foreclosure shadow inventory" is released, home prices will stagnate.

If you are a home buyer, what a great opportunity for you to take advantage of the amazing interest rates. Remember that each 1% increase in interest rates will mean a 10% decrease in your buying power. Take advantage of these unbelievable rates! They will not be here for much longer!

READ MORE: Pasadena Real Estate Guide - Everything You Need to Know to Buy or Sell Your Next Home

OPEN HOUSE SCHEDULE:

Saturday, September 3, 2011 from 1 pm to 4 pm

Sunday, September 4, 2011 from 1 pm to 4 pm

More Information:  www.MillionairesRowCondo.com