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Pasadena Luxury Homes for Sale – Over $5,000,000

Pasadena Luxury Homes for Sale – Over $5,000,000

Do you have $5 million dollars or more to spend on a Pasadena luxury estate?

I thought that it would be fun to showcase the available homes in Pasadena on the market right now.

 

Pasadena Luxury Estates

 

  Address BR BA Listing Price Price / Sq.Ft. HOA Dues MLS # DOM
1 2097 Villa Heights Road, Pasadena 6 7 $5,995,000 $711 $600 22115494 19
2 1613 Vista Lane, Pasadena 5 5 $9,500,000 $2,089 $0 22105103 233
3 1500 Lombardy Road, Pasadena 5 7 $9,500,000 $1,069 $0 22107713 180
4 860 Fairfield Circle, Pasadena 6 7 $12,000,000 $968 $0 22113522 63
5 1060 S San Rafael Ave, Pasadena 7 10 $17,500,000 $1,250 $0 22111363 109
6 2 Oak Knoll Terrace, Pasadena 9 9 $19,000,000 $543 $500 22094952 721

 

Here’s more information for each of these beautiful homes courtesy of ITEC (Pasadena Foothills Real Estate Association):

1. 2097 Villa Heights Road

One of Pasadena/s finest Estates. Located behind the gates of No. Kinneloa Ranch, this Custom-built Mediterranean rests on an acre of grnds & offers dramatic city & mtn vus. Excellence in design, & craftsmanship coupled w/supr quality of construction. Features incl. ceilings up to 28 ft in height, double crown & base moldings, Cherry wood cabinetry t/o, distressed Cheery HW flrs, French drs, marble, limestone, Walker Zanger tile, steel frame construction w/arched doorways, verandas, & balconies providing an Old World charm. Two semi-circular staircases lead into the dramatic entry Rotunda. The one-of-a-kind kitchen affords a 72 Viking Range in a tiled recessed alcove, two 36 Sub-Zero refrig/Freezer, plus all the culinary accoutrements. A sensational MBR suite offers two fpl’s, & an oversized luxurious limestone bath. There are a 1000 s.f. of covered verandas, porches, & balconies. A pool, spa, waterfall w/Koi pond grace the beautifully appointed formal grounds. A true masterpiece!

Listed by Dickson Podley

2. 1613 Vista Lane

This gracious Colonial Revival estate, designed by Giannetti Architects and built in 2005 by Finton Construction, features all the detail one would expect from the grand mansions of Pasadena’s golden era: crown molding, French doors, carved fireplaces, marble and mahogany floors, hand-painted wallpaper & paneled walls, exquisite window coverings and crystal chandeliers. A grand two-story entry with circular staircase welcomes you to this classic center hall floor plan. The first floor offers formal living and dining rooms, a family room with fireplace, a projection theatre, a gourmet kitchen with double Thermador ovens and 6 burner cooktop, Sub Zero refrigerators and a breakfast area, a downstairs bedroom with bath and an elevator. The second floor has a beautifully appointed master suite with his/her marble baths, a wood paneled library and three additional bedroom suites. A separate guest house is an additional 1148 square feet with an additional bath.

Listed by Coldwell Banker

3. 1500 Lombardy Road

With over NINE acres, this gated estate is perfect for complete privacy or holds potential for investors. It is indeed an extraordinary property which feels infinitely removed from its central urban location. The natural topography provides an ever changing experience as one traverses the property; oak shaded terraces, sun-drenched sagebrush slopes, awe inspiring vista lookouts, rolling lawns, sheltered glades, and abundant groves. The oversized pool, spa, tennis court and meandering trails compliment the extensive grounds. Floor to ceiling windows and doors with an open floor plan connect the interior to the landscape. This five bedroom, five bathroom residence, rebuilt in the 90’s, is inexorably connected to its natural surroundings of unspoiled rolling hills, glorious California Live Oaks and tranquil cultivated gardens. A whimsical vintage caboose is perfect for office or playroom. Discover vestiges of Pasadena’s long vanished rural past tucked away in the hills of Linda Vista.

Listed by Prudential California Realty

4. 860 Fairfield Circle

Designed by the noted architect Robert H. Ainsworth, this Mediterranean Revival home was completed in 1931. The property has been featured in several newspapers and architectural publications. Architectural Digest featured the house in 1932. In April 1933, the Architect and Engineer published a lengthy illustrative article about the house. The massive home is sited on the property like a Tuscan Villa, overlooking the terraced gardens and pool to the east. Its classic details of old-world Mediterranean architecture have been enhanced by the current owners with an incredible sense of sophistication and elegance. Grand public rooms with extensive carved wood details create a wonderful venue for formal entertaining. The grounds, designed by the noted landscape designer Rick Button, have been created with plant and tree species indigenous to the Mediterranean landscape.

Listed by Coldwell Banker

5. 1060 S. San Rafael

This is a Roland Coate treasure perched on the banks of the Arroyo in Pasadena. This grand estate has it all. The listing photos begin to tell the story, a private and confidential showing will continue the journey. Detached guest house with separate entrance. Pool Cabana, tennis court, breathtaking gardens and towering Oaks.

Listed by Steve Davies Estates

6. 2 Oak Knoll Terrace

Located in the prestigious Oak Knoll neighborhood adjacent to the Langham Huntington Hotel, (formerly the Ritz Carlton), this gated estate comprise a magnificent 12,000sf Colonial home plus a separate 23,000sf art gallery. Situated on 2.45 private acres, the stately residence, designed by renowned architects Myron Hunt & expanded by Gordon Kauffmann, features a center hall floorplan with grand public rooms, library, pub, nine large bedrooms and a finished 2000sf basement. French doors open to a wonderful terrace and backyard, inviting pool, garden pavillion & pool house. Meander along a scenic garden path and you will encounter an amazing art gallery, designed in 1973 by Ladd & Kelsey, with a 2-story domed atrium, state-of-the-art technology plus guest quarters with kitchen facilities. Transform this unique showplace into your own museum or theater. Convenient to fine dining, shopping and downtown LA, this exceptional estate in prime Pasadena awaits a special buyer’s personal touch.

Listed by Coldwell Banker

 

READ MORE: Luxury Condos are coming to Pasadena

Pasadena Luxury Home Sales for August 2008

San Marino Luxury Home Sale for August 2008

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Posted on September 24th, 2008
Posted in Pasadena
Posted by: Irina Netchaev

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Arcadia Real Estate Market Report for August 2008 and Real Estate Housing Trends

Arcadia Real Estate Market Report for August 2008 and Real Estate Housing Trends

In reviewing the last four months of Arcadia’s real estate market activity, it was interesting to note that the price per square foot of sold homes has remained fairly constant throughout the summer for all types of housing.  The number of homes sold during July was the highest which is in line with the cyclical nature of real estate driven by summer moves and parents not wanting to disrupt their kids with school changes. 

The inventory of Arcadia homes for sale is beginning to decrease which is a good sign since at the height of the summer season, we had over 22 weeks of absorption of existing homes on the market.

Arcadia real estate is still very clearly a buyers market and I anticipate it will remain a buyers market throughout the slower winter months.

In August, 31 SFR (Single Family Residences) sold at 95.16% of asking price.  Having said that, the asking price of 9 of these homes was reduced from the original price and that was not included in the calculation of this statistic.   A lot of Arcadia home sellers are still not realistic in setting their home prices and are overpricing their homes thereby chasing the market down and losing more money in the end. 

 

If you are not a motivated seller, don’t put your home on the market and save yourself a lot of grief.

 

 

Altos Research group after analyzing the Arcadia real estate market says the following:

“Inventory has been tightening and days-on-market increasing recently. The Market Action Index has been basically flat, not providing strong indication for market conditions.”

Here’s the Market Action Index Chart that Altos is referring to:

Arcadia Market Action Index

For more information on how to interpret the Market Action Index graph, see my post titled Buyers’ or Sellers Market?  Market Action Indicator may offer help!

Here’re the last four months of real estate market statistics for Arcadia, California:

 

Single Family Residence May-08 Jun-08 Jul-08 Aug-08
New Listings 77 46 48 31
Total Listings 156 157 132 106
Sales Pending 20 48 22 16
Homes Sold  27 30 50 31
Listings Expired 23 16 28 19
Average Days on the Market  80 193 93 188
Average Price Per Sq. Ft. $420 $414 $431 $416
Average Selling Price $972,274 $991,057 $917,052 $1,007,310
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 25.0 22.7 11.4 14.8
         
Condos May-08 Jun-08 Jul-08 Aug-08
New Listings 6 5 8 4
Total Listings 18 20 20 17
Sales Pending 4 3 2 3
Condos Sold  3 5 7 5
Listings Expired 6 1 2 2
Average Days on the Market  153 98 74 153
Average Price per Sq. Ft. $299 $343 $315 $303
Average Selling Price $503,296 $559,300 $475,357 $456,800
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 26.0 17.3 12.4 14.7
         
Townhomes May-08 Jun-08 Jul-08 Aug-08
New Listings 10 16 16 6
Total Listings 33 34 35 20
Sales Pending 8 14 6 1
Townhomes Sold  15 6 18 7
Listings Expired 2 8 7 11
Average Days on the Market  111 80 86 83
Average Price Per Sq. Ft. $329 $353 $316 $349
Average Selling Price $579,700 $579,333 $553,111 $603,571
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 9.5 24.6 8.4 12.4

SEARCH ARCADIA HOMES FOR SALE (Single Family Residence)

SEARCH ARCADIA CONDOS AND TOWNHOMES FOR SALE

Data taken from ITEC (Pasadena Foothills Association MLS service)

For weekly updates on Arcadia real estate market activity, please feel free to request market analysis reports with detailed information by clicking here.  These reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

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Posted on September 24th, 2008
Posted by: Irina Netchaev

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Monrovia Real Estate Market Housing Report – August 2008

Monrovia Real Estate Market Housing Report – August 2008

Monrovia real estate has been on the downtrend since the begining of the year.  Median home prices for Monrovia has fallen almost $100,000 from January 1st 2008 through Sept 21, 2008 per Altos Research real estate, premier real estate analysis company.  The number of days that it takes to sell a Monrovia home has been increasing as well with absorption rates for single family residences in the 5+ months range. 

Even though the inventory for single family Monrovia homes has decreased, it is still at record highs.

August 2008 data shows that Monrvovia homes sell, on average, at 97.34% of asking price.  This indicates that the home sellers are begining to price their homes more aggressively and closer to the actual selling price.

Lowest priced Monrovia condo is $195,000.

Highest priced Monrovia condo is $525,000.

There were 9 codominium and townhome price reductions in the month of August out of the 16 total listings.  Below are July and August statistics for your review.  The information was gathered from ITEC Pasadena Foothill Association.

Single Family Residence Jul-08 Aug-08
New Listings 27 18
Total Listings 161 117
Sales Pending 23 6
Homes Sold  24 23
Listings Expired 12 15
Average Days on the Market  144 220
Average Price Per Sq. Ft. $350 $341
Average Selling Price $513,854 $488,632
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 29.1 22.0
     
Condos and Townhomes Jul-08 Aug-08
New Listings 9 7
Total Listings 20 16
Sales Pending 11 1
Homes Sold  6 8
Listings Expired 6 1
Average Days on the Market  224 112
Average Price Per Sq. Ft. $302 $273
Average Selling Price $418,000 $353,738
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 14.4 8.7

 

SEARCH MONROVIA HOMES FOR SALE

SEARCH MONROVIA CONDOS AND TOWNHOMES FOR SALE

Posted by Irina Netchaev, Monrovia Real Estate Agent

Posted on September 24th, 2008
Posted by: Irina Netchaev

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Sierra Madre Real Estate market Report – August 2008

Sierra Madre Real Estate market Report – August 2008

Sierra Madre real estate home sellers are begining to price their homes more aggressively and closer to what the home buyers are willing to pay.  The average price per square foot for sold homes in August was $435 and the average price per square foot of homes on the real estate market is $452.  There’s still a bit of a discrepancy, but it’s getting closer.

Price reductions 23 out of 37 single family Sierra Madre homes for sale underwent price reductions.  That’s 62% of the sellers finally realizing that they are no longer driving the market, the buyers are!  It’s about time since some of these homes have been on the market for a year or longer and the majority of these Sierra Madre homes have been listed for sale close to 4 months.

Lowest priced SFR (single family residence) in Sierra Madre is listed at $399,000.

Highest priced SFR in Sierra Madre is listed at almost $2,000,000 at $1,999,999.

Sierra Madre Real Estate Market statistics for August 2008:

Single Family Residence Aug-08
New Listings 8
Total Listings 37
Sales Pending 3
Homes Sold  15
Listings Expired 3
Average Days on the Market  123
Average Price Per Sq. Ft. $435
Average Selling Price $707,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 11.6
   
Condos and Townhomes Aug-08
New Listings 0
Total Listings 3
Sales Pending 1
Homes Sold  2
Listings Expired 3
Average Days on the Market  163
Average Price Per Sq. Ft. $340
Average Selling Price $562,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 6.5

 

Real estate data based on information from ITEC (Pasadena Foothills Association MLS service)

SEARCH SIERRA MADRE HOMES FOR SALE

SEARCH SIERRA MADRE CONDOS AND TOWNHOMES FOR SALE

Posted by Irina Netchaev, real estate agent in Pasadena California.

Posted on September 23rd, 2008
Posted by: Irina Netchaev

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South Pasadena Real Estate Market Housing Report – August 2008

South Pasadena Real Estate Market Housing Report – August 2008

Single Family Home Sales in South Pasadena for the month of August 2008 sold at 96.34% of their original listing price.  Even though more South Pasadena homes sold in August vs. July, the average price point was significantly lower in August.  The average sales price of South Pasadena homes in August is also significantly lower than the average sales price for active listings – homes currently for sale in South Pasadena.  The average priced home for sale in South Pasadena for August was $1,067,621 vs. average sold price of $795,273.  Interestingly enough, the price per square foot for South Pasadena homes on the market in August is $499.30 tracking closer to the average sold price per square foot ($483) for the same time period.  Buyers are getting a lot more for their money!

Lowest priced home in South Pasadena for sale in August was $474,900

Highest priced South Pasadena home for sale in August was $2,298,000

Condos and townhomes in South Pasadena have seen a decrease in inventory to only 3 new condo listings and an overall 15 available South Pasadena condos and townhomes available for sale in August.

South Pasadena Real Estate Market Statistics for the last three months are below:

Single Family Residence Jun-08 Jul-08 Aug-08
New Listings 10 11 8
Total Listings 38 24 26
Sales Pending 9 14 1
Homes Sold  14 8 11
Listings Expired 6 4 3
Average Days on the Market  93 39 119
Average Price Per Sq. Ft. $532 $607 $483
Average Selling Price $1,579,714 $1,525,000 $795,273
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 41.2 7.4 14.1
       
Condos and Townhomes Jun-08 Jul-08 Aug-08
New Listings 8 10 3
Total Listings 19 21 15
Sales Pending 2 5 1
Homes Sold  2 1 3
Listings Expired 1 9 4
Average Days on the Market  95 147 77
Average Price Per Sq. Ft. $402 $331 $352
Average Selling Price $635,944 $418,000 $561,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 27.4 45.5 65.0

Real estate data based on information from ITEC (Pasadena Foothills Association MLS service)

South Pasadena real estate market activity with real time updated data can be found on Pasadena California Real Estate Blog’s How is the Real estate Market tab.  These South Pasadena real estate housing reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

Posted by Irina Netchaev, Pasadena Real Estate Agent.

Posted on September 21st, 2008
Posted by: Irina Netchaev

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San Marino Real Estate Market Housing Report – August 2008

San Marino Real Estate Market Housing Report – August 2008

San Marino real estate housing status has remained pretty stable in August 2008.  We did see an increased number of homes listed by real estate agents that have expired – meaning the sellers decided to take these homes off the real estate market.  Both June and July of this year had an average of 4 San Marino homes expire, but in August we saw 11 homes that were taken off the market.

The number of San Marino homes that were newly listed is about the same as in previous months.  The number of San Marino home sales for August is also running pretty close as the rest of the summer months.  The chart below gives the specific for the last three months.

Least expensive San Marino home in August was $899,999.

Most expensive San Marino home listing in August was selling for $8,900,000.

Inventory has been decreasing lately but the Market Action Index is falling also. With days-on-market climbing, these are relatively negative implications for the San Marino real estate market.

 

Single Family Residence Jun-08 Jul-08 Aug-08
New Listings 13 14 12
Total Listings 41 41 31
Sales Pending 8 13 8
Homes Sold  15 12 15
Listings Expired 4 4 11
Average Days on the Market  77 60 51
Average Price Per Sq. Ft. $552 $601 $589
Average Selling Price $1,638,045 $1,461,150 $1,416,600
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 17.8 11.8 11.2

Read More:  Buyers’ Market or Sellers’ Market – understanding the Market Action Index

San Marino Real Estate Market Action Index

Data of San Marino homes for sale and San Marino solds was taken directly from ITEC (Pasadena Foothill MLS)

READ MORE:  San Marino Real Estate Market Report for September 2008

SUBSCRIBE TO WEEKLY SAN MARINO REAL ESTATE MARKET REPORT BY THE PREMIER REAL ESTATE REPORTING ANALYSIS FIRM, ALTOS RESEARCH

FIND SAN MARINO HOMES FOR SALE

Posted by Irina Netchaev, San Marino Luxury Home Real Estate Specialist

Posted on September 21st, 2008
Posted by: Irina Netchaev

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Pasadena Mortgage Rates Report: September 19, 2008

Pasadena Mortgage Rates Report: September 19, 2008

by Brian Brady

Hold off on that Pasadena mortgage rate lockThe government is here to help.

 

I initially thought this massive government purchase of defaulted mortgage proposal would lead to higher mortgage rates, but quickly reversed course.  Here’s me today, on Zillow Mortgage Blog:

This action is an obvious attempt to stabilize the volatile mortgage market.  His rationale is that this plan (a massive MBS purchase) will cost the taxpayers a lot less than the alternative. Whether or not that’s true remains to be seen.  He specifically references the “spread” or yield difference between treasury notes and mortgage-backed securities.  If the US Treasury is going to buy mortgage-backed securities to narrow that spread, rates will drop in the near term.

I think we’ll see conforming 30-year fixed rates work down to 5.75% or below, next week.  Stay tuned.

 

Originally posted on Millionaire Real Estate Lender

Posted on September 20th, 2008
Posted by: Irina Netchaev

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How do you experience Pasadena?

How do you experience Pasadena?

Pasadena Weekly’s real estate columnist, Joanna Beresford has written another article.   Not only is it a very beautifully written story, but it also mentions a couple of quotes from yours truly.  Here it is for everyone’s enjoyment.

Barefoot in the park

By Joanna Beresford 09/18/2008

barefoot in PasadenaEarlier this week I was walking barefoot through the streets of downtown Los Angeles. Backpack over my shoulder and head down, I carried a pair of dilapidated flip-flops in my hand – Corona blue and gold, bought for 99 cents, having traveled many miles on many feet already and deserving their rest.

The outlandish Disney Center erupts on the block between Grand and Hope streets, where the blue plastic thong wrenched itself free from one of those flip-flops. After that, I was barefoot, but I really didn’t mind. The pavement was warm beneath my feet and the view was spectacular. I was looking for something and I may as well have found it with my scummy blistered toes as anywhere else.

Now I just can’t remember exactly what I was looking for, except I do know that I felt sad and worried and angry about a bunch of things, most of which had to do with money and love, naturally. I thought, if I can’t find some answers here, between the Disney Center and the Mark Taper Forum, these two bastions of culture, civilization and good taste, where am I gonna find  them? So I walked all the way around the soaring structure that some call a monstrosity and others call miraculous.

The light and surfaces stimulated me to the point of renewal, and that’s something. But I wanted more, so I headed toward the cathedral. You know, The Cathedral. That Spaniard Jose Rafael Moneo’s vision of heaven – Cathedral of Our Lady of the Angels on Temple Street. I’ve been there pretty often. I attended Sunday morning Mass once, and I bought a coffee and sat under the trees with the sparrows, reading. I love the sunbaked adobe color and the transparent walls and everything. But I should have known that a building famous for its lack of right angles (a design element dedicated to the aura of mystery that Moneo wished to explore) wasn’t exactly going to give me any solid answers. Anyway, it was late in the day, gates were closing, bells were ringing, and I kept walking. Past tourists, city employees and homeless people mostly.

“The first loss is the best loss,” Irina Netchaev says.  She’s a Realtor, but she’s also my friend, so I believe just about every word that comes out of her mouth.

READ BAREFOOT IN THE PARK

Posted on September 18th, 2008
Posted in About Us
Posted by: Irina Netchaev

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Pasadena Mortgage Rates Report: September 17, 2008

Pasadena Mortgage Rates Report: September 17, 2008

By Brian Brady

Remember when I talked about the whipsaw effect, yesterday? Rates with no lender compensation to the broker, called “par” rates in the industry *, are 5.875% now.  That’s .375% higher than the 5.5% I reported yesterday.

Will Pasadena mortgage rates come back down?


Maybe.  They SHOULD since they are backed by the full faith and credit of the US Treasury.  They SHOULD start behaving like the 10-year treasury bond yield, which is down .06% in yield today.  They SHOULD be at the 5.5%  mark….but they’re not.

The mortgage default crisis spread to the world’s largest insurance company, prompting yet another government bailout.  Mortgage bond traders are starting to think that the US Treasury is going to have to start offering classes of debt, to deal with the crisis.

 

Stratification of debt, like the old Resolution Trust Corporation bonds, will most likely take us back to where mortgage-backed securities trade at a wide premium to Treasury debt.  This isn’t happening but mortgage bond traders are speculating that it might. If it does, then the demand for a 30 year mortgage, loaned to you, the American borrower, is not as high as a direct obligation of the US government.

 

What we seek to discover is how IRRATIONAL this fear, conjecture, and speculation is.  While it doesn’t seem rational, it isn’t quite irrational at these price levels.  If the 10-year treasury bond stays under 3.5% yield, and the mortgage bonds sell-off pushes mortgage rates up over 6.0%, then I think the fear isirrational and will change my recommendation- I’m still suggesting that you lock your mortgage rate at application.

 

* A par rate is where the originating mortgage broker does not receive any yield spread premium from the lender.  Borrowers can negotiate a fee for the mortgage broker to give you access to “par rates”, which are typically lower than the “retail” rates banks offer.


Originally posted on Millionaire Real Estate Lender

Posted on September 17th, 2008
Posted by: Irina Netchaev

No Comments »

Altadena California – Mid Century Home for Sale in Altadena

Altadena California – Mid Century Home for Sale in Altadena

If you are looking to buy a home in Altadena, take a look at this gorgeous modern mid-century home that just came on the real estate market today.  Built in 1948, it is a 3 bedroom, 2 bath home with 1,740 sq. ft and sits on a lot over 7,279 sq. ft. per Assessor.

Altadena Mid Century Home for Sale

This serene mid-century modern designed by Gregory Ain as part of his Park Planned Homes has been updated as Ain would have wanted.  Every room has a view to the yard or courtyard with water features in both.  Custom cabinets, stainless steel appliances, backsplash, and farmhouse sink in kitchen.  Cork floors in all rooms except baths.  Both baths were redone including custom glass tile work.  All systems replaced (HVAC, electrical, plumbing), new insulation in roof and exterior walls, new roof and recessed lighting throughout.  Windows and doors were replaced in much of the house.  Third bedroom was expanded by 400 sq ft. in the 50’s at which time the closet was removed.  Award winning landscaping, exterior stainless steel flashing and brushed nickel hardware complete the home’s midcentury appeal.

Dining Room

 

 

 

kitchen

 

bathroom

 

back yard

 

This Altadena home is listed for sale at $729,000.

Update:  October 7, 2008 – this home has been withdrawn from the market.

Posted on September 17th, 2008
Posted in Altadena
Posted by: Irina Netchaev

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