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December 2011 Market Update - South Orange Grove Boulevard Condos/Townhomes in Pasadena CA

By
Industry Observer CalDRE #01165532

December 2011 Market Update - South Orange Grove Boulevard Condos/Townhomes in Pasadena CA

Michael Jacobs Realtor 818.516.4393

This is a market recap of condominums and townhomes in the South Orange Grove corridor of Pasadena, California.  This area is also known as "Millionaire's Row".  This name is from earlier times along South Orange Grove where landmark mansions and estates once lined this gracious broad tree-lined boulevard.  

In this report, I extend beyond what some may consider the "prime area" along South Orange Grove Boulevard and include properties south of Colorado Boulevard and north of Columbia.  For the eastern boundary, I include Singer Park on California Boulevard and all of the streets that run parallel to California.   The western boundary for this report is the Arroyo(south of the Colorado Street Bridge). This report does not include any of the condos or townhomes in Old Pasadena or those north of the 210 Freeway(so it does not include Orange Grove Village I or II, Continental Court or any of the developments between North Orange Grove and Arroyo Drive). All information is from our local multiple listing service on January 15, 2012 -- it has not been verified and is not guaranteed.

Michael Jacobs Realtor 818.516.4393


December 2011 Market Update - South Orange Grove Boulevard Condos/Townhomes in Pasadena CA

Michael Jacobs Realtor 818.516.4393

There were four sales in this category along the South Orange Grove Boulevard corridor in December  2011.  The sales ranged in price from $500,000(888 South Orange Grove) to $1,975,000(the spectacular two level townhouse style condo at 300 South Orange Grove).   In December 2010 there was one sale in the category - a unit at the Rose Tree condominium complex that closed for $670,000.

As of the date of this post, there are 24 condos/townhomes on the market for sale ranging in price from $320,000(a one bedroom at Castlegate) to $1,495,000(Grand Avenue).  There are five properties in escrow ranging in price from $479,000 to $698,000.

I continue to see the number of days on market increasing and numerous price reductions -- sellers can definitely address these two issues by correct pricing upfront and proper presentation(staging can be as simple as de-clutter/touch-up to more extensive renovations).   It may be trite but you only have one chance to make a first impression.

December 2011 Market Update - South Orange Grove Boulevard Condos/Townhomes in Pasadena CA

Michael Jacobs Realtor 818.516.4393


If you would like more detailed information regarding the South Orange Grove condo/townhome market or any micro-market within the San Gabriel Valley or adjacent northeast foothill communities within the city of Los Angeles, contact Michael Jacobs at 818.516.4393 cell or michaeljacobs@coldwellbanker.com.  

Michael Jacobs Realtor 818.516.4393

 

Posted by

Michael Jacobs

 

CalBRE # 01165532

P. O. Box 587

Pasadena, CA 91102

Call/Text:  818.516.4393

mtj916@gmail.com

 

 

Comments (10)

John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Michael a very good market report. I really agree with your statement, correct pricing upfront and proper presentation can be as simple as de-clutter / touch up to more extensive renovations.  You are correct again in your statement we only have chance to make a first impression! 

Jan 16, 2012 01:06 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Thanks, John -- it's important in any market to be ready when your home is initially presented to a potential buyer.   In our multiple listing service, an agent can input photos before the listing becomes "live" yet there are far too many occasions when the property first hits the MLS with no photos --- what a shame and so simple to correct upfront.   

Jan 16, 2012 04:04 AM
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

Michael - Your market report reflects in-depth local knowledge and has a personal tone--I'm sure your readers will appreciate both.

Jan 16, 2012 10:27 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Norma -- I have followed real estate in the Pasadena/San Gabriel Valley areas before I was licensed as a Realtor.  Yes, I was one of those looky-loos, so I appreciate your comment about knowing the various markets where I do business.   

Jan 16, 2012 11:53 AM
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Hi Michael.  Great market report for South Orange Grove.  Hey, since its called South Orange Grove, does that mean that there are orange trees growing everywhere?

Jan 17, 2012 03:13 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hi Belinda -- the days of groves of orange trees have long passed but the area along the South Orange Grove corridor and throughout the city of Pasadena has many beautiful tree-lined streets which complement the varied architecture of the area.   

Jan 17, 2012 08:20 AM
Will Nesbitt
Nesbitt Realty at Condo Alexandria - Alexandria, VA
Nesbitt Realty is a family-run brokerage.

Great market report Michael, I'm sure you close one soon! happy new year

Jan 17, 2012 08:36 AM
Vince Chinell
VICO Home Inspection - Branson, MO
CPI

Michael, Now these look like some homes I'd really like to inspect.  Beautiful neighborhood!

Jan 17, 2012 06:23 PM
Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

If you price it right to start with, you usually net more in the long run.  That is great advice.  Thanks, Michael.

Jan 20, 2012 09:48 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

 

Will - thanks

Vince - South Orange Grove is one of the most desirable addresses in the San Gabriel Valley - there is much to discover in the neighborhood in addition to anything you might find during a home inspection.  

Suzanne - one of the first questions a buyer will ask me is how long has this home be on the market for sale.   Depending on that answer and if it is longer than what they can consider "normal" you can actually see the wheels turning in their head and with each turn a lower and lower price.....

Jan 20, 2012 02:52 PM