Los Angeles First Time Buyer | You Must Be Armed And Ready to Play in this market- It's getting crazy out there again! Multiple offers, properties flying off the market. I really enjoyed the Lull we had at the beginning of the summer, It seemed like all of my clients were in escrow within a week or two. We even had the upper hand in many negotiations. But now, if you are a Los Angeles First Time Buyer be prepared! If you want to find a home, take advantage of today's low interest rates and be a well informed buyer, be prepared and keep these 8 basic principles in mind for our current market. Have your finances in order. You must speak with your lender (bank) and get pre-approved for the loan. Do your "looking" on line but when it comes to "touring" be prepared! An experienced Realtor wi... 08/18/2010

Los Angeles First Time Buyer | How much truth is in that 20% down statement? My fiancé was just informed by one of her friends that in today’s market we are going to have to come up with 20% down at the table for whatever home we are looking to purchase. How much truth is in that 20% down statement? We would like something to start off with in the range of $250,000 - $300,000. $50,000 is A TON O CASH! Thanks Stephen! Christopher My Answer: $50K IS at TON O CASH! No disrespect to your friend Christopher but in many situations, their statment is FALSE.There are at least 2 loan programs I’m aware of that require only 3-3.5% Down. The loan programs are perfect for the Los Angeles First Time Buyer and they are  FHA and Home Path. Here are 3 Excellent Points relating to these loans. 1. They a... 08/17/2010

Homes For Sale Pasadena Ca| No Photos, No Description-NO SALE! Let me begin by saying there are many good agents out there. For the most part my experience as an agent has been pretty darn good here in the Pasadena and the LA area. Unfortunately though, there are a few agents who simply take their business for granted and for the most part, snap a photo of your home and put it on the MLS, that's it! My heart goes out to the sellers that have unknowingly placed their trust with one of their biggest assets into an agent who could care less. Which boggles me because I know the goal of a great agent is at the very least to sell the home! Duh... Not only to sell the home, but to sell it for the most the market will bear, with the pride of creativity in their marketing and integrity with thei... 08/17/2010

What a week! First, I was invited to present to Realtors® from all over California at the annual California Association of Realtor's convention. It's quite an honor since only one other "working" real estate agent has been invited, my co-presenter, Ted Mackell of Simi Valley Real Estate. Immediately following the announcement, I was notified that our real estate blog has been nominated for "People's Choice Award for Best Real Estate Blog in Pasadena". This contest is being held at www.Zillow.com. So... If you are enjoying this blog, please VOTE by clicking on the link below and selecting PASADENA VIEWS! We so appreciate your help and the recognition!!!! THANKS to all our loyal readers!!!!! 08/12/2010

  Eaton Canyon-A Power Hike to the Water Falls-One of the great things about living in Pasadena is being close to some excellent hiking. I love to incorporate my cardio exercise into nature but I usually only allow an hour or two to do so. An afternoon hike to Eaton Canyon Falls is perfect for burning calories and bonding with nature! Eaton Canyon Natural Area Park and Nature Center is just moments from Old Town Pasadena and located at 1750 North Altadena Drive in Pasadena, just at the intersection of North Altadena Drive and New York Dr. What I really like about Eaton Canyon is it’s not as crowded as Runyon Canyon in Hollywood and there’s no dog poop! On the day I took these photos there were a lot of kids enjoying the 1.5 mile hike to the falls. There were also some adults but clearly... 08/11/2010

Overpriced Homes-Sell Slower and For Less If there’s anything we can take away from the plethora of Bank Owned Foreclosures is they certainly know how to price a home to move! I maintain that you almost always shoot yourself in the foot by overpricing your home. Your home will almost always sale at or above market value by pricing at or below market value. So why is that? Well think back at when YOU were buying a home. Remember when a “great deal” came on the market and everybody and their agents were “swarming” to the open house? You placed your offer only to find out their were 10 other offers and they were going above the asking price? This “bargain price” created an auction affect and got people excited. THAT is how banks are pricing their homes and if you want your home to move qui... 08/05/2010

Double Up And Back It Up Double Up And Back It Up-I knew my PC was having problems about a month ago when it kept randomly shutting down. I kept thinking, I really need another computer to jump to when this one freezes up or so I can take it in for maintenance. Well, this past Wednesday, my computer bit the dust at the end of a very busy day. Thank GOD I have my blackberry and THANK god I have every thing backed up on Mozy. I felt my computer world crashing around me quickly so I rapidly downloaded any documents I knew I had to have for the next couple days to my Google Docs and external hard drive. And then, off to FRYS Electronics in Burbank California to buy a new “back up” notebook less than 1 hour before they closed. In less than 20 minutes I walked out the door of FRYS with a (Tos... 07/30/2010

I really love this quote. I've always thought that  it takes as much energy (if not more) to be poor as it does to be wealthy (in mind and pocket book). I agree and subscribe to this quote by the Donald!   "You have to think anyway, so why not think big?" Donald Trump     Clearly this was his inspiration when choosing a hairstyle! Don't let the hair throw you off, the message is intended to be taken seriously! He hee,he hee heeee. :)       07/27/2010

What Is The Difference Between A Short Sale And Foreclosure|How It affects your credit The intention of this article is to give you a brief understanding of how a Short Sale Vs. Foreclosure affects your credit and ability to buy a home in the future. The description of each process is very brief and a "nut shell" version of the more detailed definitions of each. You can click on any of the links below to gain a broader understanding of the Short Sale and Foreclosure Process. This article assumes you already have a basic idea of each. Nutshell Description of a Short Sale and Foreclosure. Short Sale: When a seller must sell their home for less than they owe on the property, and the lender that they owe the money to agrees to take less than they originally loaned, that is a short sale. Th... 07/27/2010

What Is A Home Short Sale| Short Sale FAQ's- What is a Short Sale? A Short Sale is the sale of a home when the net proceeds do not fully pay off the existing mortgage loan(s) and the Lender is willing to accept a discounted payoff. The closing costs that are typically paid by the Seller are paid out of the proceeds from the sale, including but not limited to, commissions, escrow and title fees and any negotiated Buyer’s cost. Your home is sold and you avoid foreclosure. Why would my lender accept less than what is owed on my mortgage? Lenders are in business to lend money, not to own real estate. They do not want the expense of the foreclosure process and/or the holding and maintaining of the property if it does not sell at foreclosure. The foreclosure process is very expensive and time... 07/23/2010

Short Sale Alternatives| What are your options? Before you consider a short sale, you must look at all of your options.I'ts important that you weigh each Short Sale Alternative against each other and an actual Short sale.  Here are some options: Refinance | If you're current with your mortgage payments then this is a pretty good option. But typically speaking, distressed homeowner don’t have any equity in their home and their credit is shot so this not going to be an option for many. Do nothing or walk away | The Implication is clear here and the lenders only option will be to foreclose on your property. Lender Workout | Your lender may be willing to: 1.Add the missed payments to the existing loan balance. 2.Change the interest rate, including making an adjustable rate into a fixed rate... 07/22/2010

What Is A Non Judicial Foreclosure| Non-judicial foreclosures are processed without court intervention, with the requirements for the foreclosure established by state statutes. Most Foreclosures in California are Non-Judicial foreclosures. In a Non-Judicial Foreclosure there must be a power of sale clause in the mortgage/loan document or deed of trust. This is a clause saying that the home owner agrees to allow the lender to sell the home in the event the buyer defaults on the loan. Of course there are a number of steps involved that allow the home owner to “make good” on the loan by catching up payments and even renegotiate the loan so they can stay in their home. If that’s just not an option the homeowner can exercise, eventually the Lender will publish a Notice of Default, a Notice o... 07/21/2010

Hardship For Short sale | What qualifies as a hardship? Here is a Simple “Hardship Test” that will give you an idea if you qualify for a Short Sale. Ask yourself: Have you lost your job since you’ve purchased your property? Have you become disabled or had a bad accident since purchasing the home? Have you been recently divorced Have you experienced a death of a spouce Have you had a business failure Have you experienced a natural disaster Have you experienced sudden illness Are you encountering Large Medical Bills for you or your family since the purchase Have you been relocated to another city or state? Has the interest rate on your loan gotten out of control and beyond your ability to afford the payment?You must be able to prove hardship to the lender. The lender will look at each ind... 07/21/2010

Things To Do In Pasadena California- As they say, some of the best things in life are free! And it cost you absolutely nothing to do a walking photo tour of Pasadena. I start every day (no kidding, every day) with a one hour power walk. Many of those mornings I will do my walk or jog through some of Pasadena's most beautiful neighborhoods. I belong to the 24Hour Fitness on Colorado Blvd and rather than bore myself to death on the treadmills, I do my cardio outside. Every once and awhile I will bring my camera along with me and the photos you see here today are the result of a very recent walk South on S. Los Robles & S.Oakland Ave. Besides the health benefits of my walk, I need to keep track of local inventory and somehow I feel like I keep a better thumb on the market by personally to... 07/06/2010

July is just around the corner, 6 months have passed in Pasadena Real Estate.  Here are single family attached & detached home sold in the first quarter of 2010 reported to I-Tech MLS.   Month Total Sold Average SF Average Price Per SF Days on Market Original Price AVG List PriceAVG Sale PriceAVG SP % LP JAN 50 1,803 $360.03 84 $697,324 $672,235 $657,354 97.79 FEB 47 1,814 $356.07 81 $690,839 $663,837 $652,809 98.34 MAR 62 1,837 $366.20 69 $720,984 $702,773 $689,877 98.17   Month High Price Low Price Median Price JAN $3, 560,000 $175,000 $526,500 FEB $3,250,000 $128,000 $562,000 MAR $2,650,000 $135,000 $607,500 In January 2010, 27 of 50 closed sales were at list price or over. In February 2010, 24 of 47 closed sales were at list price or over. In March 2010, 26 of 62 closed sales were a... 06/29/2010

Clogged drains can ruin your summer. There is no reason to wait to have them unclogged. For a limited time, a professional and licensed technician from Schuelke Plumbing will come out to your home and unclog any drain for the low price of just $68. That is an unheard of price, especially in the Los Angeles area. Usually you get what you pay for, but with Schuelke Plumbing, you can expect much more. Their work and customer service is second to none. Look at some of the benefits of choosing Schuelke Plumbing to Hydro-Jet your drains clean for example: Free follow up inspections as part of the Schuelke Plumbing guarantee Guaranteed for up to 5 years Lateral camera inspections for only $75 We own and operate our own equipment, and train our own staff (unlike the competition that send you a ... 06/29/2010

FHA Property Guidelines| Finding FHA Approved Homes & Condos: Once you are qualified for a FHA (Federal Housing Administration)loan you will now have to find properties that meet FHA Guidelines and Restrictions. Because, not all Homes qualify for FHA! This is one of the big differences between the FHA Loan Vs Conventional Loan. Let's go over some of those FHA Property Guidelines for property condition. Property ConditionFirst Time Home Buyer Los Angeles-Pay special attention to this because many of you are going to be using this loan program! Property condition is of major concern when searching for your new (or new to you) home. Here are some basic ideas to keep in mind when you're looking at the property's condition: FHA Okay * Cosmetic Wear & Tear * Outdated but in generally good con... 06/27/2010

What To Do In Pasadena California | Pasadena City Hall  is full of wonderful “photo ops” and a great place to start your journey before heading off Old Town Pasadena or Paseo Colorado Pasadena for Lunch. This California Mediterranean style City Hall of ours (designed by San Francisco architectural firm of Bakewell and Brown) was originally completed in December 1927 and is in the Register of National Historic Places. It was closed for restoration and retrofit in 2004, reopening in 2007 quickly becoming a “favorite historic building in Pasadena” by locals in the city of Pasadena and tourist alike. The ornamentation, fountains, rose gardens and the general ambiance have inspired many couples to host their wedding photos inside and around Pasadena City Hall. And it’s no wonder considering... 06/25/2010

Pasadena FHA Loan & FHA Jumbo Loan info - VanDyk Mortgage - California FHA Lender. VanDyk Mortgage is your source for FHA Loans in Pasadena. We have been making FHA loans since 1987. VanDyk Mortgage is a Direct Lender. We offer FHA & FHA Jumbo loan programs for Pasadena Homebuyers and Pasadena Homeowners to Purchase and refinance homes. FHA loans up to $417,000 FHA Jumbo Loans - up to $729,750 FHA Jumbo are also called FHA High Balance loans Pasadena FHA Loans are available up to $729,750 with just 3.5% down payment. The FHA 2011 Loan Limit for Pasadena is $729,750. Pasadena FHA Loans that are over $417K up to $729,750 are called FHA Jumbo or FHA High Balance loans. Here are some links to local Pasadena information: Pasadena City Website Pasadena Crime Maps Pasadena Statistics, Demograp... 06/23/2010

  House Vs.Condo:Which one is better? This is a very common question buyers are faced with now (especially first time buyers in Los Angeles with smaller budgets). Often because there seems to be a lot more "bang for the buck" in square footage and property condition when you compare a House Vs. Condo. One of the toughest pills for buyers to swallow is the HOA Dues (Home owner associations dues). These fees over the maintenance of the building/grounds, insurance and most of the time trash and water. On the other hand, if your strongly considering buying a house in Los Angeles, there are also Home owner dues, HOAs but their not called "HOA Dues" Their called "maintenance costs"! And they don't come in a nice neat monthly package. They come in the form of: New roof $20K, Gardner $100 per m... 06/21/2010