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Monrovia Real Estate – State of the Housing Market Report

Monrovia Real Estate – State of the Housing Market Report

If you are living in Monrovia or are thinking about relocating to Monrovia, you’ve come to the right place.

This post will be updated monthly, around the first week of the month, for the previous month and will give you key real estate market indicators for Monrovia California. Bookmark this page and visit it each month to see how Monrovia homes and condos are faring in today’s real estate market.

If you are already an Monrovia homeowner and would like to get a monthly email sent to you with real estate activity around your Monrovia home, please click here to request your real estate monthly market report. This very comprehensive real estate market report will be emailed to you weekly and will give you a clear idea of real estate market trends.

If you are seriously considering selling your Monrovia home, condo or townhouseand would like a private consultation, please contact me at 626-627-7107 or Irina@Irina4RealEstate.com.

Monrovia Real Estate Market Report for the month of July 2008:

The median sales price of Monrovia Single Family Residence (SFR) has dropped from the high of approximately $650,000 last year to just around $575,000 as of August 3rd. The average price for last month is running in the low $513,000 range. The price per square foot has dropped accordingly and the market time is increasing to over 4 months.

The summer months have held pretty stable with most of the drop in price taking place in the winter and spring.

One of the concerns, potential buyers raise was the recent shooting at the Monrovia high school. In speaking with Monrovia residents, the general concensus is that the school and Monrovia police department are taking the necessary action to address the issues that lead up to the shooting.

Overall, this is a wonderful family community with older, character homes and stable long term residents.

All the real estate indicators are pointing to Monrovia presenting opportunities for buyers.

Single Family Residence Jul-08
New Listings 27
Total Listings 161
Sales Pending 23
Homes Sold 24
Listings Expired 12
Average Days on the Market 144
Average Price Per Sq. Ft. $350
Average Selling Price $513,854
   
   
Condos and Townhomes Jul-08
New Listings 9
Total Listings 20
Sales Pending 11
Homes Sold 6
Listings Expired 6
Average Days on the Market 224
Average Price Per Sq. Ft. $302
Average Selling Price $418,000
   

 

Data taken from ITEC (Pasadena Foothills Association MLS service)

If you are interested in beginning your Monrovia house search, please click on the search home link here.

For weekly updates on 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.

Posted by Irina Netchaev 626-627-7107

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Posted on August 6th, 2008
Posted by: Irina Netchaev

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Home Seller Tips: Sell Your Pasadena Home in 30 days or Less – Part II

Home Seller Tips: Sell Your Pasadena Home in 30 days or Less – Part II

In the previous post, Sell Your Pasadena Home in 30 Days or Less, we discussed the basic formula for selling your home. There are three parts to your selling success:

  1. Preparing your Pasadena home for sale.
  2. Determining a price for your home.
  3. Deciding how to market your Pasadena home.

Today, I wanted to go into a bit more detail on the type of marketing and advertisement methods that are available in today’s Pasadena real estate market.

We talked about the importance of bringing “eye balls” to see your home. Exposure is of utmost importance in getting the highest possible price for your home and selling it in record time. The more people that see your home, the more opportunity you have in selling it well.

To fully market your home today, it is imperative that you put the power of the internet to work for you. Internet, not only, exposes your home to the immediate real estate market consumers, but it also is an extemely powerful tool which will bring buyers that are thinking of relocating to Pasadena.

We already know that we need to have your home listed in the local Multiple Listing Service. Please note, that in Pasadena there are several Multiple Listing Services (MLS). We have ITEC which is part of Pasadena Foothill Association. And, there is IMRMLS, which is part of Arcadia Realtors Association. Please make sure that your Pasadena home is listed in one of these MLS services. If it’s listed in one, it’s listed in both through the magic of new computer programming that was recently implemented.

If you have a realtor friend who is working out of the area, who will be listing your home for you. Not the best idea, but that’s a different post. Please ensure that your real estate agent contacts one of these MLS services and enters your home there.

MLS Listings are very different. How do you make your Pasadena home stand out?

  • Make sure that you have a wonderful, detailed and honest description of your home. You want people to read the description and want to visit your home to see if it’s the right home for them. You need to create the emotion of really, really wanting to see your home.

READ ALSO: Words that Sell Your Home

  • Use lots of photos. Now… when I say lots of photos, let me clarify. Use GOOD photos. Please do not place photos that are out of focus, or show messy rooms, or are crooked, or show a ton of ceiling, or showcase your furniture. Remember, you are trying to sell your home. MLS services allow anywhere from 25 to 30 photos per listing. Put up as many photos as the service allows. Buyers love to be able to see photos of homes, especially buyers that are thinking of relocating to Pasadena.

Photography Tip: Use a wide-angle camera! It’s very difficult to photograph a house without one.

    • Front of the house photo
    • Back yard
    • Entry
    • Bedrooms
    • Living Room (preferably several views)
    • Kitchen (preferably several shots from different angles)
    • Bathrooms
    • Pool & Spa (if you have one)
    • Garden
    • View of the surrounding area (street, etc)
    • Special features of the house (think what made you buy this house, photograph it and put it up on the MLS)

READ ALSO: Pictures are Worth a Thousand Words

  • Videotape your home. Yes… you heard me, video your house. Not only should you video the home, you should narrate the video and talk about what made you buy your house, what you loved about living in your home, what did you love about living in Pasadena, why the buyers would want to purchase your Pasadena home, etc. Trust me on this… it works!

Place your video on www.YouTube.com . I video tape my clients’ homes all the time. Out of town buyers love that! Even the buyer down the street will love it. There are other services that I use to upload your video to. The more the merrier.

  • Create a Flash Presentation or a Virtual Tour. Companies like www.RealEstateShows.com do a wonderful job of hosting these presentations and distributing them to additional search engines.

In my next post, we’ll talk about creating a real estate home brochure and other ideas to help you in selling your house. In the meantime, please do not hesitate to call me if you have any questions. I can be reached at 626-627-7107 or via email at Irina@Irina4RealEstate.com

MLS listing Search How much is my home worth
contact real estate agent real estate market statistics
Posted on August 4th, 2008
Posted in Sellers
Posted by: Irina Netchaev

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Alhambra Real Estate Market Report – July 2008

Alhambra Real Estate Market Report – July 2008

If you are living in Alhambra or are thinking about relocating to Alhambra, you’ve come to the right place.

This post will be updated monthly, around the first week of the month, for the previous month and will give you key real estate market indicators for Alhambra California.  Bookmark this page and visit it each month to see how Ahambra homes and condos are faring in today’s real estate market.

If you are already an Alhambra homeowner and would like to get a monthly email sent to you with real estate activity around your Alhambra home, please visit our real time real estate market page and sign up for your real estate monthly market report.  You will not be contacted by me or anyone on my team and the information will be generated automatically via email based on the criteria that you list.

If you are seriously considering selling your Alhambra home and would like a private consultation, please contact me at      626-627-7107      or Irina@Irina4RealEstate.com.

Additional Alhambra Real Estate Market Reports:

Alhambra Real Estate Market Report – August 2008

Alhambra Real Estate Market Report – September 2008

Alhambra Real Estate Market Report for the month of July 2008:

The number of new homes for sale (SFR) almost doubled in July with the number of home sales remaining the same as in the last couple of months.  Price per square foot is moving down as well.  There is several months of inventory for Alhambra home buyers to choose from.

Single Family Residence Jul-08
New Listings 21
Total Listings 61
Sales Pending 17
Homes Sold 15
Listings Expired 8
Average Days on the Market 62
Average Price Per Sq. Ft. $350
Average Selling Price $505,133
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 20.3
Condos and Townhomes Jul-08
New Listings 11
Total Listings 39
Sales Pending 11
Homes Sold 12
Listings Expired 7
Average Days on the Market 84
Average Price Per Sq. Ft. $305
Average Selling Price $406,708
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 21.1

Alhambra Real Estate Market Report for the month of June 2008:

Single Family Residence Jun-08
New Listings 12
Total Listings 54
Sales Pending 14
Homes Sold 13
Listings Expired 9
Average Days on the Market 112
Average Price Per Sq. Ft. $414
Average Selling Price $511,692
Condos and Townhomes Jun-08
New Listings 14
Total Listings 45
Sales Pending 11
Homes Sold 8
Listings Expired 7
Average Days on the Market 66
Average Price Per Sq. Ft. $280
Average Selling Price $373,238

Alhambra Real Estate Market Report for the month of May 2008:

Single Family Residence May-08
New Listings 11
Total Listings 62
Sales Pending 19
Homes Sold 13
Listings Expired 9
Average Days on the Market 92
Average Selling Price $483,669
Condos and Townhomes May-08
New Listings 15
Total Listings 47
Sales Pending 10
Homes Sold 10
Listings Expired 5
Average Days on the Market 146
Average Selling Price $400,180

 

SEARCH ALHAMBRA HOMES FOR SALE (Single Family Residences)

SEARCH ALHAMBRA CONDOS AND TOWNHOMES FOR SALE

 

Posted By: Irina NetchaevPasadena California Real Estate Agent – Irina Netchaev & Associates.  Irina and her Team of Real Estate experts work in the beautiful Keller Williams Realty in Pasadena California specializing in residential real estate.                     (626) 629-8439            

 

Posted on August 4th, 2008
Posted by: Irina Netchaev

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First Time Home Buyer Programs Information Series

First Time Home Buyer Programs Information Series

Pasadena Real Estate Blog welcomes our new guest writer – Sean Thomas Furlong of The OCD Group. Sean is an expert when it comes to govenrment assistance programs for first time buyers. He will be sharing his wealth of experience with us in a series of posts.

moneyIn case you haven’t read, seen or heard, now is the time to buy a Pasadena home. Prices have fallen and inventory is high. There are bargains to be had all around us. What you may not know, however, is that there are still First Time Home Buyer programs available that make the great deal you’re getting on your Pasadena house or condominium, an even better deal.

You can find many of these programs on your own with a bit of research. The problem with self-research is that there are many “fine-print” guidelines for these first time buyer programs which make it difficult or impossible for the programs to work with each other. Occasionally, the programs aren’t even funded. What you want to do is find a Lender who is an expert on the programs that are available, and will be able to explain how they work with each other.

For the sake of this article, we will be covering the most usable products available through the California Housing Finance Agency (CalHFA). All of these program have Income, Property and Geographic limitations. For more details, you will want to call me at The OCD Group at 800.963.4623.

CalHFA is a State run agency providing secure loans to First Time Home Buyers in California. They offer competitive rates, eased credit restrictions, and up to 102% financing! CalHFA also offers a variety of specialty programs and Down Payment Assistance (DPA) programs to qualifying borrowers. These programs can lower your first mortgage and keep your monthly payments LOW. A First Time Pasadena Home Buyer is someone who has not owned a property during the past three years. These programs include, but are not limited to, the following:

1st Mortgage Products: 30 Year Fixed, 35 Year Fixed with 5 Year Interest Only Period, 40 Year Fixed

  • HICAP – 4% of the Purchase Price of your home.
  • CHDAP – 3% of the Purchase Price of your home.
  • CHAP – 2% of the Purchase Price of your home.
  • ECTP – $15,000 towards the Purchase Price of your home for qualifying teachers, and the lowest 30 Year Fixed Rate available through CalHFA.
  • Home Choice Program – for homes with a Permanently Disabled Person in the household provides for a 30 Year Fixed Interest Rate of 4%

Keep in mind that ALL programs, even within CalHFA, do *not* work together.

In the coming weeks, we will be covering additional programs that remain funded and available. These programs can provide you thousands of dollars in buying power, while keep your payments deferred. In the meantime, for more information, please call 800.963.4623.

To start your Pasadena home search, click on the Find Your Home button below or call Irina at 626.627.7107.

MLS listing Search How much is my home worth
contact real estate agent real estate market statistics
Posted on August 3rd, 2008
Posted in About Us
Posted by: Irina Netchaev

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Pasadena Mortage Rates Report: August 1, 2008

Pasadena Mortage Rates Report: August 1, 2008

Pasadena Real Estate Mortgage rates for August 1, 2008.  Loan amounts up to $417,000:

 

3/1 ARM              5.500%

5/1 ARM              5.625%

7/1 ARM              6.125%

10/1 ARM            6.250%

30 Yr Fixed          6.250%

 

All rates offered to the borrower with 1 point cost.  Rate quotes assume a purchase transaction with a 20% down payment, 720 credit score, and full income qualification.  Rates are subject to fluctuation.  Custom rate quotes and rate lock advice are available by calling  (858)-777-9751 .

 

PASADENA MORTGAGE RATE TREND:

 

Next 7 days:       Slightly Lower

Next 30 days:     Slightly Lower

Next 3 months:   Neutral

 

This mortgage rates report is offered courtesy of Brian Brady.  Contact Brian for more information about a home loan or apply online.

Posted on August 1st, 2008
Posted by: Irina Netchaev

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How to Use The Power of Words to Sell Your Home

How to Use The Power of Words to Sell Your Home

What sells Pasadena Homes?

  1. Location, Location, Location!
  2. Correct Pricing!
  3. Condition and Staging!
  4. Sales Words Used in the Multiple Listing Service!

Huh?  Words sell homes?  That’s something new…

Well, experienced and successful Pasadena Real Estate agents have known this for quite awhile.  Now, there’s an article in The Seattle Times by Ann Brenoff that discusses just that.

 

 

Words matter. Wars have started over words. Civilizations have collapsed because of them. And, it appears the speed with which a house sells can be determined by them. Ann Brenoff

 

So, how can home sellers use words to give them the edge in selling their Pasadena house? 

A study done by a Canadian professor, Paul Anglin, after analyzing more than 20,000 home listings, found that sales words not only affect the speed of home sales, but also the PRICE of a home sale.

Certain words can make your home sell faster and for more money.  So roll up your sleeves and let’s look at this together.

Words that help sell your Pasadena home faster and for more money are:

words sell homesHandyman special

Beautiful (these homes moved 15 percent faster and for 5 percent more in price than the benchmark)

Curb appeal

Move-in condition (home listings took 12% less time to sell)

Landscaping (homes sold 20% sometimes)

Granite

Gourmet

Golf

Words that hurt:

Motivated seller (homes sold for 8% less in the study! In another study by Ronald Rutherford of University of Texas, afinance and real-estate professor, homes that listed “Motivated Sellers” in their description stayed on the market for 15 longer and sold for 4% less!)

Moving (homes sold for 1% less in the study)

Good value

As-is

Clean

Quiet

New paint

 Los Angeles Times

Another word: “MUST SEE” was not received well by home buyers and did not do anything statistically to improve the number of days a home was on the market before selling.

If you are selling your Pasadena home, review your Multiple Listing Service (MLS) description to see how your home is advertised and feel free to share this with your Pasadena Real Estate agent.

If you are selling your home by owner (FSBO), review all your marketing – MLS, flyers, etc and incorporate the words that sell.

If you are considering selling your home in and around Pasadena, work with a respected and knowledgeable real estate agent who can ensure that you get the highest $ for your home.

                               

 

Posted on July 31st, 2008
Posted by: Irina Netchaev

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Overbid of the Month – 1522 Wembley Road, San Marino

Overbid of the Month – 1522 Wembley Road, San Marino

It’s always interesting to see what homes sell for as compared to the home’s asking price

When I start working with a new buyer, I recommend that we set them up to receive home listings directly from the MLS (Multiple Listing Service) inclusive of homes that go under contract and homes that just sold. 

Why?  Because getting information on home sales show how quickly these homes sell and for how much.  It’s the quickest and easiest way to get a pulse on the real estate market.

So far, San Marino real estate home sales for the month of July are at 9 homes sold.

On average, these homes sold at 97.97% of asking price.  That’s pretty good considering the average price per square foot for these San Marino homes is $611.22 and they were on the market for 57 days on average.*

This month, there was a bit of a multiple offer war for the property at 1522 Wembley Road: 

1522 Wembley Road

It originally came on the San Marino real estate market at $1,598,000.  It just closed escrow (SOLD) at $1,668,000 at a whopping $725.85 a square foot (compare it to the $611 average for the rest of the sales.)  It also sold in about two weeks!

Why was this home so special?

The location was great – it was in the Huntington LibraryDistrict of San Marino minutes from Lacy Park.  This home was beautifully staged and nicely updated. 

Congratulations to the Sellers and the new Buyers!

Interested in More San Marino Real Estate data? 

ALSO READ:  San Marino Real Estate Market Report

* ITEC data as of July 29,2008

Posted on July 29th, 2008
Posted by: Irina Netchaev

1 Comment »

Info on FREE Summer Concerts in the Park

Info on FREE Summer Concerts in the Park

We all love Summer!

Summer is about being outdoors, enjoying activities with friends and family and of course, heading over to your favorite park for a concert.  If that concert is free, well… that’s even better.

So, without further ado, here’s a list of Summer Concerts in the Park.

ALHAMBRA, CA

Location:  2nd Street, between Main Street & Commonwealth Avenue

Time:  6:00 to 10:00 pm (Headliner Band starts at 8:30 pm)

August 2 Foreigner
August 9 Kenny Loggins
August 16 The Fab Four
August 29 Tower of Power

 READ MORE:  Alhambra, California

 

ARCADIA, CA

Location:  City Hall West Lawn, 240 West Huntington Drive, Arcadia

Time:  7 pm to 8:30 pm

August 7 Juke Box heroes (Elvis & Buddy Holly Tunes)
August 14 Mrs. Murphey’s Chowder (High Energy Irish/American Show)
August 21 Nannett & Her Hotsy totsy Boys (Days of the Roaring 20s)

READ MORE:  Arcadia California

COVINA, CA

Location:  Covina Park Bandshell, 301 North 4th Avenue, Covina

Time:  7:30 pm

August 4 Covina’s Got Talent (Favorite Local Talents)
August 11 Teresa James & The Rhythm Tramps (Funky & Greasy)

 

GLENDORA, CA

Location:  Bandshell at Finkbiner Park, 160 North Wabash Avenue, Glendora

Time:  6:00 pm

August 3 Rodeo Drive (Cabaret/Show Tunes)
August 10 Surfin’ Safari (Beach Boys Tribute)
August 17 Cold Duck (Classic party Favorites)

 

LA CANADA FLINTRIDGE

Location:  Memorial Park, 1301 Foothill Blvd

Time:  6:00 pm until 8:00 pm

August 3 Palm Drive (Classic Rock)
August 10 Swing Inc.
August 17 LCF Community Band (American Concert)
August 24

Hot August Night (Neil Diamond Tribute)

Followed by  “High School Musical 2”

 

LOS ANGELES – DOWNTOWN

Location:  California Plaza, 350 South Grand Avenue, Downtown Los Angeles

Call:         213-687-2159       

August 1 12 pm Fresh Roots Jazz Festival
August 1 7 pm Fresh Roots Jazz Festival
August 2 8 pm Armenia Mania!
August 3 8 pm Armenia Mania!
August 7 8 pm Musicology 204:Josh Kun’s Brass Band Odyssey
August 8 12 pm Jaipur Kawa Brass Band
August 8 8 pm Jaipur Kawa Brass Band
August 9 8 pm Miadi Chamber Orchestra, Chuckto Valdez
August 15 12 pm Lal Meri
August 15 8 pm Movies that Matter – The World According to Sesame St.
August 16 8 pm Movies that Matter – Gypsy Caravan
August 17 1 pm Sustainable LA
August 22 12 pm Double G’s Brass pass
August 22 8 pm Very Be Careful and Money Mark with Big Band
August 23 8 pm daKAH Hip Hop Orchestra
August 24 3 pm A Celebration of Nea Fold Arts Heritage award winners
August 29  12 pm Andy Palacio Tribute with teh Garifuna Collective & Umalali
August 29   8 pm Andy Palacio Tribute with teh Garifuna Collective & Umalali

 

MONROVIA, CA

Location:  South West Portion of Recreation Park, 620 South Shamrock Avenue, Monrovia, CA

Time:  6:30 pm to 8:00 pm

August 3 Suave (R&B)
August 10 Instant Replay (60s Surf)
August 17 Doo Wah Riders (Country)

 

PASADENA, CA

Location:  Levitt Pavillion, 87 North Raymond Avenue #250, Pasadena

Call      626-683-3230     

August 1 8 pm Celtic Spirit (World Rhythms)
August 2 8 pm Rolando Morales (Musica Latina)
August 3 7 pm Billy Mitchell (Jazz Night)
August 6 Circus Night (Children’s Entertainment)
August 7 7:30 pm Lisa Haley (American Music)
August 8 Smader  Levi (World Rhythm)
August 9 8 pm Nocy (Musica Latina)
August 13  7 pm Steve Songs (Children’s Entertainment)
August 14  7:30 pm Stone Honey (American Music)
 August 15  8 pm Tidawt (World Rhythms)
 August 16  8 pm Los Pinguos (Musica Latina)
 August 17  7 pm Charles McPherson (Jazz Night)
 August 20  7 pm Gary Allegretto (Children’s Entertainment)
 August 21  7:30 pm John Doe (American Music)
 August 22

 8 pm Xavier Quijas Yxaotl & America Indigena

(World Rhythms)

 August 23  8 pm Kevin ‘Bujo’ Jones (Musica Latina)
 August 24  7 pm Red Holloway (Jazz Night)
 August 27  7 pm The Safety Girls (Children’s Entertainment)
 August 28  7:30 pm Bill Revele & Shannon Hurley (American Music)
 August 29  8 pm Kobo Town (World Rhythm)
 August 30  8 pm Mariachi Divas (Musica Latina)
 August 31  7 pm Amy London (Jazz Night)

 READ MORE:  Pasadena, California

SIERRA MADRE, CA

Location:  Memorial park Bandshell, 222 West Sierra Madre Boulevard, Sierra Madre

Time:  6:00 pm to 8:00 pm

August 3 Aluminum Marshmallows (Rock & Roll)
August 10 The Groove (70s and 80s)
August 17 The Late Bloomers (Acoustic Folk)
August 18 Fairy Tales & Fantasy (Musical Theater)

READ MORE:  Sierra Madre, California

 

SOUTH PASADENA, CA

Location:  Garfield Park (on Mission Street between Stratford & Park Avenue)

Time:  5:00 pm to 7:00 pm

August 3 Son Mayor
August 10 Surfing Safaris

READ MORE:  South Pasadena, California

TEMPLE CITY, CA

Location:  performing Art Pavilion at Temple City Park, 9701 Las Tunas Drive

   626-285-2171   

Time:  7:00 pm to 9:00 pm

August 6 The Funky Hippeez (Disco)
August 13 Westwind Productions (Polynesian Show)
August 20 Hard Day’s Night (Beatles Tribute)
August 27 The Doo-Wah Riders (Country Western)

 

For home purchase information, please contact Irina NetchaevPasadena real estate agent at  626-627-7107 

 

Posted on July 29th, 2008
Posted by: Irina Netchaev

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2100 Huntington Dr #2

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Cell: 626-627-7107
Direct: 626-629-8439
Fax: 800-584-4632
irina@irina4realestate.com

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