REAL ESTATE MARKET UPDATE; JANUARY 2010

January 2010 Real Estate Market Update

Visit our website to get more info on Pasadena Homes for Sale for sale and Pasadena Foreclosures

RAMIRO@SOLDBYRAMIRO.COM
626-497-4606

KELLER WILLIAMS PASADENA
445 S. FAIR OAKS AVENUE
PASADENA, CALIFORNIA 91105

A LOS ANGELES DAY TRIP: THE PASADENA GOLD LINE

The light rail Metro Gold Line spans 13.7 miles linking Pasadena, starting at Sierra Madre Villa in the east to the Union Station in downtown Los Angeles, which from there will continue through Little Toyko and ending at the Atlantic station in East Los Angeles.

Aside from using the Gold Line as a form of transportation to and from work, it is a great way to explore the cultures of the communities around Pasadena. If you feel the need to “get away” on a day off you can depart on the gold line from any of Pasadena’s six stations. The Pasadena Gold Line will take you to Highland Park where you can visit the Southwest Museum, to Chinatown where there are many restaurants and great art galleries, or the Union Station to visit the historic Olvera Street for a colorful taste of Mexican culture.

It’s much more relaxing to explore the culture’s of Los Angeles when you don’t have to worry about the stresses of freeway traffic and parking.

The Southwest Museum of the American Indian is an ideal destination to learn about the history of the native people that once solely inhabited Los Angeles. The Southwest Museum’s collection representing the Native American is second largest, next to the Smithsonian Institute. The Gold Line’s Southwest Museum Station is located at the base of Mt. Washington, just below the museum.
www.autrynationalcenter.org

Chinatown is home to an eclectic community of shops that sell a wide array of bargain priced items. There is also a diversity of restaurants rants that are consistently featured in the food and dining section of the Los Angeles Times. In addition to shopping and dining, there is a surprising amount of art galleries that will build an understanding and appreciation for the Chinese art culture, especially in visiting the Chinese-American museum.

Chinatown Los Angeles is a great place to experience the celebration of the Chinese New Year. Chinatown will be hosting a series of events on February 20th and 21st to welcome the New Year of the Ox.

www.ChinatownLA.com

Olvera Street is also known as the El Pueblo Historic Monument and is thought by many to be the birthplace of the city Los Angeles. In walking through the traditional Mexican style plaza area that features 27 stores, you feel like you are in a quaint town in Mexico. You can shop for many handcrafted items or dine at one of the restaurants serving authentic cuisine and feel like you are away. On weekends there is outdoor entertainment featuring Mariachis, Bollero Musicans and performances by Aztec Indians and folkloric dancing. Olvera Street is just outside of the Union Station, at 845 N. Alameda Street.

ElPuebloDeLosAngeles.com
www.Metro.net

ERICA SWANSON
RIVAS & ASSOCIATES


818-257-1054
ERICA@RIVASESTATES.COM

WWW.RIVASESTATES.COM - WWW.SOLDBYRAMIRO.COM

Pasadena Foreclosures; Shadow Inventory

The Pasadena Real Estate Market has been holding steady with home sales going up. What most people don't know is that Pasadena, like many other other cities, is flooded with what is called shadow inventory. What is Shadow Inventory? Shadow Inventory are foreclosure properties not on the MLS (multiple listing service). These properties are comprised of:

• Preforeclosures, homes that have a NOD (Notice of Default) filed
• Auction Scheduled NTS homes
• REO, bank owned homes not on the MLS

Many say that preforeclosed and NTS homes cannot be considered as shadow inventory, because they have not been been foreclosed on. The reality is that most people behind on their mortgage are typically behind due to financial distress. Most banks will not forgive a large debt and most loan modifications are not approved. Hiring a short sale specialist may be helpful to avoid foreclosure, but the chances on a short sale approval is slim.

As a Pasadena resident, I see this Shadow Inventory everywhere. A great way to spot these foreclosed homes is by looking for the following:

• Boarded up windows
• over grown landscaping
• notice of "Do not trespass" typically on the front window(s)

Visit our website to get more info on Pasadena Real Estate for sale and Pasadena Foreclosures

RAMIRO@SOLDBYRAMIRO.COM
626-497-4606

KELLER WILLIAMS PASADENA
445 S. FAIR OAKS AVENUE
PASADENA, CALIFORNIA 91105

PASADENA DANCE STUDIO: FRED ASTAIRE

Fred Astaire dance studio in Pasadena offers classes for people of all ages that want to learn many forms of dance. Fred Astaire is a ballroom studio that teaches ballroom, rhythm, Latin, including popular dances such as Foxtrot, Waltz, Quickstep, West Coast Swing, East Coast Swing, American Tango, Argentine Tango, Samba, Rumba, Salsa, Cha-Cha, Bolero, Country, and many others.

In consideration towards dance studios in Pasadena, Fred Astaire seems to provide a larger studio space in comparison to other dance studios in the area. They also have social events, including "Club Social", where all dancers come to practice the dances they've been working on to get a chance to break out all you've worked so hard to learn and have fun with your friends. Food and Beverages are included with a $10 cover.

From beginner, to advanced, to professional levels, whatever you want from dancing, they seem to offer it, including:

•learning how to dance as a beginner
•social dancing for fun
•becoming a better salsa dancer for night clubs
•becoming a better dancer at public ballroom dances
•working on a dance for a wedding
•sending your kids to learn ballroom dance
•taking your existing dance skills to a higher level
•joining a team to work on a show or event- dance sport competitions locally and across the USA.

Dance Center of Pasadena
1368 North Lake Ave.
Pasadena, CA 91104
(626) 797-4700
www.pasadenadance.com

ERICA SWANSON

RIVAS & ASSOCIATES

818-257-1054

ERICA@RIVASESTATES.COM

Mission District Loft in South Pasadena, CA, Offered at $699,000

For Sale: Studio/1BA Loft in South Pasadena, CA, $699,000

For more information on this listing: 812 Fremont Avenue #103, South Pasadena

ERICA SWANSON
RIVAS & ASSOCIATES

ERICA@RIVASESTATES.COM
818-257-1054


WWW.RIVASESTATES.COM - WWW.SOLDBYRAMIRO.COM

PASADENA HOME SALES: FOR SALE VS. SOLD

PASADENA REAL ESTATE MARKET UPDATE
Residential Single Family Homes
With data that we pulled from the Multiple Listing Service, we researched the amount of Pasadena real estate, month-by-month, that have sold and are up for sale in Pasadena from September 2008-November 2009. The statistics show that over the past year the number of homes that actually sell is slowly increasing, meanwhile the amount of inventory that sits on the market has slowly been decreasing. Also increasing is the amount of houses each month that are pending in escrow.

ERICA SWANSON
RIVAS & ASSOCIATES

ERICA@RIVASESTATES.COM
818-257-1054


WWW.RIVASESTATES.COM - WWW.SOLDBYRAMIRO.COM

THE SOUTHERN CALIFORNIA HOME BUYER'S FAIR: MARCH 13TH AND 14TH

With interest rates at historic lows, home prices at affordable levels, and a wide range of homes from which to choose, now is an ideal time to buy a home. Chances are you have many questions, ranging from how to find and qualify for a mortgage loan, to what steps are required to get from finding a home to closing escrow and moving in.

The answers to these and many other crucial questions about the home-buying process will be the subject of more than 60 educational seminars presented in English and Spanish by a wide variety of real estate experts at the Southern California Home Buyer’s Fair on Saturday and Sunday, March 13 and 14, at the Los Angeles Convention Center in downtown Los Angeles.

The Southern California Home Buyer’s Fair is being co-sponsored by the California Association of Realtors® and the Los Angeles Times. This free, two-day trade show and educational forum was expressly created to give you all of the information you need to successfully navigate the road to homeownership -- whether you’re a first-time buyer, investor, or existing homeowner looking for the most up-to-date information about today’s real estate market.

The Southern California Home Buyer’s Fair also will feature more than 70 exhibit booths where visitors can obtain information from industry experts about a vast range of programs pertaining to homeownership and the home-buying process.

For more information about the Southern California Home Buyer’s Fair or any other real estate questions/needs: Home Buying Information

LOCATION: The Los Angeles Convention Center, Concourse Hall, in downtown Los Angeles; 1201 S. Figueroa St., Los Angeles, CA 90015.

DATE & TIME: Saturday, March 13, 2010, from 10 am to 5 pm.
Sunday, March 14, 2010, from 11 a.m. to 4 p.m.

COST: Seminars and exhibit hall entrance are free to the public.

EVENTS: More than 50 educational "how-to" seminars designed to help home buyers navigate today's real estate market with confidence and peace of mind.

EXHIBITORS: The Southern California Home Buyer's Fair also will feature more than 65 exhibit booths where visitors can obtain information from industry experts about a range of programs pertaining to homeownership and the home-buying process.

SPECIAL PROMOTIONS: The first 200 attendees will receive a free movie ticket (one ticket per person).

Fast Fixes for Common Gutter Problems

Mesh covers keep debris from clogging gutters, but they can sometimes be more expensive than the gutters themselves.

Gutters are designed to do one thing—channel water away from the foundation—and they’re critical to protecting the structural integrity of your house. But in order for gutters to do their job properly, they have to be kept in shape and free of clogs, holes, and sags.

Luckily, most common gutter problems are easy for homeowners to fix themselves. And it’s worth the effort. “Gutters are one of those things where routine maintenance and inspecting them can really prevent bigger problems down the road,” says Jason Stutzman, director of home maintenance and repair for Brothers Redevelopment in Denver.

Here are the gutter problems that the pros see most often, and the recommended solutions.

Clogged gutters
This is the most common problem of all. Left untended, gutters and downspouts get so clogged with debris that they’re rendered useless. The excess weight of leaves, twigs, and standing water can also make them sag and pull away from the fascia.

Clean them at least once a year, and twice a year if you have a lot of trees nearby. Gary Mindlin, managing partner of New York City-based Top Hat Home Services, schedules gutter maintenance four times a year, with additional checks after big storms.

You can clean your own gutters if you’re comfortable on a ladder, don’t mind getting wet and dirty, and don’t have an extremely tall house. After you’ve cleared the muck, flush them with a garden hose to make sure they’re flowing properly. If you’d prefer, you can hire someone to do the job for you for between $50 and $250, depending on the size of your house.

Another option for dealing with chronically clogged gutters is to outfit them with gutter covers. These include mesh screens, clip-on grates, and porous foam. They still need regular maintenance, though, and the cost can be more than the gutters themselves.

Sagging gutters and gutters pulling away from the house
This is usually a problem with the hangers, the hardware that secures the gutters to the fascia. They might have deteriorated over time, the fasteners may have backed out of the wood, or they’re spaced too far apart to support the weight of full gutters. The cost to fix it yourself is cheap; hangers generally cost $10 or less apiece, and the fasteners run about $1 each.

Leaks and holes
Leaky gutter joints can be sealed by caulking the joint from the inside with gutter sealant, says John Eggenberger, vice president of training and corporate development for the Mr. Handyman franchise of home repair companies. A tube costs about $5. Very small holes can be filled with gutter sealant. Larger holes will require a patch. If you can’t find a gutter patching kit at the hardware store, you can make a patch from metal flashing.

Improperly pitched gutters
Gutters need to be pitched toward the downspouts for the water to flow properly. You want at least a quarter inch of slope for every 10 feet. Get on a ladder after a rainstorm and look in the gutter; if there’s standing water, it’s not pitched properly.

To correct this yourself, you’ll need to measure from the peak to the downspout. Snap a chalk line between the two and find the spots where the gutter is out of alignment. You might be able to push it up into place by bending the hanger. If that doesn’t solve the problem, you might need to take a section down and rehang it. If you have seamless gutters, call the company that installed them to correct the problem.

Downspouts draining too close to the foundation
Downspouts need to extend several feet from the house, or they’ll dump right into the basement. Gutter extensions attached to the bottom of the downspout will discharge water well beyond the foundation. They’re inexpensive and easy to install. “I like the downspout material extended four or five feet and screwed on,” says Reggie Marston, president of Residential Equity Management Home Inspections in Springfield, Va. Cost: less than $20 per downspout.

Missing gutters
If your house has no gutters at all, consider investing in a system. The cost depends on the material. Most residential gutters are aluminum, which is lightweight and durable. “Unless an aluminum gutter is damaged by something, it will last forever,” says Scott McCurdy, vice president of Jacksonville, Fla.,-based disaster repair contractor Coastal Reconstruction. Vinyl, galvanized steel, and copper also are available options.

Aluminum gutters range from about $4.50 to $8.50 per linear foot installed. On a 2,000-square-foot house with about 180 linear feet of gutters, that’s roughly $800 to $1,500.

Written by: Pat Curry
Serial remodeler Pat Curry is a former senior editor at BUILDER, the official magazine of the National Association of Home Builders, and a frequent contributor to real estate and home-building publications.

Search for: Pasadena Homes for Sale and Pasadena Condos for Sale

RAMIRO@SOLDBYRAMIRO.COM
626-497-4606

KELLER WILLIAMS PASADENA
445 S. FAIR OAKS AVENUE
PASADENA, CALIFORNIA 91105

THE PASADENA TOURNAMENT OF ROSES

"A CUT ABOVE THE REST": THE 121st PASADENA ROSE PARADE

The Tournament of Roses was started in 1890 as a way to advertise Southern California’s sunny, year-round weather. Pasadena began booming at the turn into the 20th century. The idea of having a flower festival in the middle of winter shows outsiders that Pasadena offers such a temperate climate.

The first Tournament of Roses was attended by 2,000 people. Estimates conducted by The Tournament of Roses and the Pasadena Police Department showed an attendance of 700,000, with 1 million visitors to Pasadena during the week of the parade, for 2009.

The 121st Tournament of Roses will take place on Friday, January 1st. This years Rose Queen is Natalie Innocenzi from Flintridge Sacred Heart Academy. Following the Pasadena Rose Parade will be the 96th Rose Bowl game; a match-up of the two top college football teams in the nation. Starting at 8am at Orange Grove Blvd, the 23 groups of assembled bands, horse units, and floats will take approximately 2.5 hrs to pass across the 5 1/2 route.

ERICA SWANSON
RIVAS & ASSOCIATES

ERICA@RIVASESTATES.COM
818-257-1054


WWW.RIVASESTATES.COM - WWW.SOLDBYRAMIRO.COM

HANABI SUSHI BAR: PASADENA SUSHI RESTAURANT

Located at Lake Avenue and Del Mar in Pasadena, Hanabi Sushi Bar is a Pasadena Sushi restaurant that should be considered a hidden gem. Set behind Macy's in the South Lake District, Hanabi is perfect place to grab a lunch amongst other business professionals and retail employees, o for a quaint, candle lit dinner. The menu seems to offer a broader palette of flavors when compared to typical traditional Japanese cuisine. The prices are in favor for those on a budget but the menu items are brought to you in the manner of a high end gourmet Japanese restaurant. Although Pasadena seems to provide an array of Japanese Sushi bars, but I highly recommend trying this place out.

Hanabi Sushi Bar

345 S. Lake Avenue

Pasadena, CA 91101

626-796-8080

Info@HanabiSushiBar.com

RAMIRO RIVAS & ASSOCIATES
ERICA@RIVASESTATES.COM

818-257-1054



KELLER WILLIAMS PASADENA
445 S. FAIR OAKS AVENUE
PASADENA, CALIFORNIA 91105

MODERN ALTADENA HOME FOR LEASE; RUBIO HIGHLANDS

Tri-Level Modern for Lease in the Rubio Highlands

Listed at $6,800/Month, Altadena Home

Altadena Homes for Sale. This tri-level contemporary modern located in the Rubio Highlands towers above other homes making it private and perfect for entertaining. The home boasts five bedrooms and seven baths. You will be impressed by the massive living area that features tiled flooring, high ceilings, fireplace, and an expansive outdoor balcony that on a clear day you have views to Catalina Island. Get ready to enjoy fabulous meals in the large gourmet kitchen.
The third level has four master suites. The main master suite has a cozy fireplace and high ceilings. The luxurious master bath is massive in size and you can enjoy a relaxing bath while absorbing the breathtaking views of the city. Off the third level you will find the outdoor oasis with a hip pool with spa and a large bar area to entertain your guests.
Additional features include a pool house, large outdoor covered patio, a two car garage with plenty of storage space, alarm system, and priceless views.

Search for: Pasadena Real Estate and Altadena Real Estate

RAMIRO@RIVASESTATES.COM
626-497-4606

KELLER WILLIAMS PASADENA
445 S. FAIR OAKS AVENUE
PASADENA, CALIFORNIA 91105

THE CASTLE GREEN: A PASADENA LANDMARK

Originally named the Hotel Green, just north of Central Park in Old Pasadena is the well known historical Castle Green. Built in 1898, this magnificent architectural masterpiece was named in honor of the business entrepreneur Col. George G. Green, who was responsible for having the Castle Green built. The architect, Frederick L. Roehrig, pulled Moorish (Islamic), Spanish, and Victorian architectural elements all together, creating a completely unique landmark.

Initially consisting of three large separate structures, a bridge crossing over Raymond Avenue connected the center building to the one lying on the east. The building on the east side had long been gone but the bridge that connected the two still exists and can be seen when you travel past the Castle Green on Raymond Avenue.

Although it had been built to serve as a hotel, times and the economy changes. At the turn of the century Pasadena started switching from a resort city that easterners vacationed at, to a place to live and eventually in 1924 a group of guests that frequented and resided at the hotel purchased the hotel as investors and divided it up. No longer the Hotel Green, the central structure was divided into fifty separate units for purchase and became what is now the Castle Green. The condos in the Castle Green are still used as residential units and are owned by residents that have respect and admiration for Pasadena’s history. The owner of each unit pays a monthly homeowners association fee that goes towards the constant preservation and maintenance of the building.

In addition to serving as a residence for condo owners, the Castle Green is available and is constantly in use for events, filming, and weddings. Events and weddings at the Castle Green include use of the Lobby, Main Salon, Moorish Room, Turkish Room, Sunroom, and Ballroom, as well as the Gardens. A classic wedding set up in the outdoor gardens has become a popular write up in the local magazines, including Pasadena magazine which covered a large editorial on outdoor wedding receptions at the Castle Green.

Occasionally condos come onto the market for purchase in the Castle Green, as well as owners looking to rent out their unit. A current listing that is available for purchase is a 700 square foot one bathroom studio for $365,000. Feel free to contact us for additional information on condos at The Castle Green.

ERICA SWANSON

818-257-1054 Direct Line

RIVAS & ASSOCIATES

ERICA@RIVASESTATES.COM

JUST LISTED: TWO-STORY LOFT AT THE MISSION DISTRICT LOFTS, SOUTH PASADENA

812 FREMONT AVENUE #206, SOUTH PASADENA

VIEW LISTING

This functional yet stylish two-story loft is centrally located in the highly sought after Mission District where you will enjoy modern living in one of the best communities in Southern California.

HOUSING MARKET FORECAST FOR 2010

"California’s housing market continued its strong sales rebound this year, resulting from the continued pace of distressed properties coming to market,” said C.A.R. President James Liptak. Amongst the real estate industry, particularly the California Association of Realtors (C.A.R.), we expect sales to moderate, which we have already started to see happening. Since October of 2008 there has been an increase, month-by-month, with the amount of properties selling.

For the month of August, home sales posted the largest monthly increase in at least ten years, partially due to the first-time homebuyers tax credit that is available until November 30th of this year. We are still waiting to hear if that date is going to be extended. Repeatedly we have been hearing from direct lenders with major institutional banks that they still have an incredibly overhelmling list of foreclosure properties that have yet to release onto the market, which may suppress the housing prices. Irregardless we predict median home prices to slightly increase in 2010.


RAMIRO RIVAS & ASSOCIATES
WWW.SOLDBYRAMIRO.COM
ERICA@RIVASESTATES.COM
818-257-1054



KELLER WILLIAMS PASADENA
445 S. FAIR OAKS AVENUE
PASADENA, CALIFORNIA 91105

SOUTH PASADENA REAL ESTATE, AT THE MISSION DISTRICT LOFTS

SOUTH PASADENA REAL ESTATE

1,510 sqft, 2 Full Baths

For Sale at $670,000

Get ready to own South Pasadena’s premiere two-story penthouse loft. Centrally located in the highly sought after Mission District, you will enjoy modern living in one of the best communities in Southern California.

As you enter, you will be captivated by the high ceilings, large industrial windows, and wood floors that run throughout. Endless possibilities are waiting with its open floor plan, making this perfect for entertaining.

Bring out your chef’s hat in the spacious kitchen that features granite countertops, stainless steel appliances, and plenty of cupboard space in the maple cabinetry.

Enter your private sanctuary in the upstairs master bedroom. Large and spacious, this master bedroom features a full bath with slate flooring and breathtaking views of the San Gabriel Mountains. Aside from this priceless view, enjoy outdoor relaxation in the expansive rooftop balcony.

Additional features include two side-by-side parking spaces, commercial grade double insulated windows, in unit washer/dryer hookups, and two storage units in parking area. All close to the Metro Gold Line Mission/Meridian Station, dining, shopping and entertainment.

Search South Pasadena Condos & Homes

For more information contact:

Ramiro Rivas, Realtor

626-497-4606

ramiro@rivasestates.com