2611 Oneida Street, a stylish mid-century home in Pasadena, closed last Friday (the 16th) with a final sales price of $580,000. This was one of the smoothest escrows we've had this year, always much appreciated! Features include the crips lines of the mid-century style, original details such as casement windows, hardwood floors and a fireplace in the living room. Skylights brighten the interior. More modern upgrades include central air and heat, a new patio cover and a fountain in the backyard. The spacious family room just off the kitchen opens up the floorplan and adds to the versatility of this 1600 square-foot two-bedroom, one-bath home.

Listed for $589,000
Sold for $580,000
2 bedrooms, 1 bath
Built in 1948
1,610 sq. ft. on a 7,850 sq. ft. lot

For more pictures and details visit www.2611OneidaStreet.com

After a year of traveling the world, our buyers were ready to settle back down in Pasadena.  We helped them buy 1532 Rose Villa Street, a Mediterranean-revival 3 bedroom, 2 bath home located on a tree-lined street.  Features include a Batchelder tile fireplace, gourmet kitchen, outdoor fireplace with built-in grill, in-ground jacuzzi, and period hardware throughout.

Listed for $1,175,000 by Cynthia Luczyski, Deasy/Penner and Partners
Sold for $1,184,000 on September 16, 2011.
2,094 sq. ft. on 0.25 acre lot
Built in 1925

We Realtors like to think that we are the experts at the center of the transaction, but we really can't give information about aspects of the purchase that are outside our areas of expertise. I'm not a roofer, I can't tell you if the roof looks good. I'm not a plumber, I can't tell you if the house has all copper plumbing. I can help you prioritize what you need to do to put your house on the market, strategize the pricing and marketing plan, write up a good purchase contract, negotiate a sale, guide you through the escrow process and many many other tasks that are part of helping you accomplish your real estate goals. When it comes to plumbing, roofing, flooring and other such things, I defer to others' professional expertise.

I am asked all the time about where property lines are at a property for sale. My answer is always, "If you really want to know, have a survey done." But there is a middle path--once in escrow, you can ask your title company to come out and identify the boundaries. This gives you a pretty good idea of where the lines are, though the survey is still the best way to determine them.

From the excellent loan officer, Linda Wilkes, Prospect Mortgage:

Fences should not be considered an indication of property boundaries. Legal property boundaries are demarcated by surveyor pins or stakes. These are typically 1/2" to 3/4" round iron pipes flush or buried slightly below land surface. Newer pins might have yellow or orange caps that indicate the surveyor's license number.

Locating property lines can be challenging. Older surveyor pins tend to erode. Older property markers could be metal posts, rebar, pipes or car axles. Those having difficulty locating their surveyor pins, also called corner pins, should contact their city or county government and get a copy of their plat map.

A plat map will identify each specific lot located in a subdivision — as well as the shape and dimension of the lot — and where the surveyor pins are located.

If a plat map is not available, or no pins are found, the next step is to contact a registered land surveyor to locate the property lines and set new surveyor pins. The boundary surveyor will thoroughly research city and county records relating to the land and all adjacent property. After research, the field work begins, reconciling the research with the onsite analysis on the property to determine the final boundary lines.

Boundary surveys might also include property improvements, fences, power lines and any encroachments crossing the property lines. Costs of a boundary survey can vary depending on property size, terrain, vegetation, location and season.

A survey is strongly recommended before subdividing, improving or building on land. Building beyond property lines could result in being forced to alter or remove a structure, fines and lawsuits.

 

Just sold, with multiple offers! We listed this Spanish charmer for $449,000 and sold it for $521,000. This home has only had two owners, and is ready for the excited new home owners to move in and make it their own. Located north of Colorado Blvd., it has spacious rooms, including a large eat-in kitchen, plus a great backyard with covered patio.

 

Here are the details:

Listed on July 18 for $449,000
Closed escrow on August 30 for $521,000
1,640 sq. ft. home
7,650 sq. ft. lot
3 bedrooms, 1.5 baths

 

 

 

 

 

 

 

Just sold! 1907 Oak Street in Burbank just closed escrow after receiving multiple offers. This 3 bedroom, 1 bath Spanish cottage was upgraded with central air and heat, automatic sprinklers, and updated plumbing and electric systems. The backyard is a real retreat with a patio, old-fashioned barbecue, lush lawn with a hammock strung between shade trees for relaxing summer evenings.

 

Here are the details:

Listed on July 18 for $439,000
Sold on August 30 for $462,000
986 sq. ft. house
5,850 sq. ft. lot

 

 

 

 

 

Just sold! 5126 Ellenwood Drive just closed escrow - proof that short sales are indeed do-able!  We brought this classic Craftsman bungalow on the market on March 28 of this year, accepted on offer on April 18, and closed escrow on August 29. Just four months to get short sale approval from Bank of America, navigate through buyers' inspections, and close escrow.

 

Here are the details:

Listed on March 28, 2011
Closed on August 29, 2011 - for a final sales price of $584,000!
3 bedrooms, 2 full baths
1,612 sq. ft. house
9,150 sq. ft. lot, with pool

 

 

 

 

 

Just sold! 1145 Oak Grove Drive, in Eagle Rock, sold last week for $535,0o0. This mid-century traditional has 3 bedrooms, 2 baths, plus an entire downstairs for use as a family room, den, and office. The private backyard is perfect for outdoor living with an deck, outdoor kitchen, spacious play area, and dog house.

 

Here are the details:

Listed on July 8, 2011 for $539,000
Sold on August 26, 2011 for $535,000
1,540 sq. ft. home
7,160 sq. ft. lot
Upgrades include remodeled kitchen and baths, central air and heat, and finished garage

 

 

 

 

 

Here’s my take on this report:

Median price means half the properties sold for more than this number and half sold for less than this number. Is it meaningful? Figure this out (all concerning the month of July only):

3 of the sales this year were for more than the highest sale last year

But what is truly noteworthy about this year over last year is:

The number of active listings is over 40% fewer
The number of properties pending sale is 150% more
The percent of properties under contract compared to what is on the market is over 330% more!

The market is much more active right now. Why? We can say it’s low interest rates and that there is a perception that we are truly at the bottom, but we had the same factors going last year. The economic news isn’t much better, in fact, a number of homeowners have decided to sell because the future holds no promise that the picture will improve in the next couple of years. I think the true meaning is that buyers are buying homes to live in because everyone has to live somewhere and many people do not want to rent, and sellers can sell in this market if their homes are priced right.

I'm posting this because it strikes me as good advice that shows some thinking outside of the box for financial planning, which is what I like to think I do regarding real estate. I have subscribed to Justin's email newsletter ever since I saw him speak at a California Association of Realtors conference a few years ago. I have never worked with him, I don't know how good a job he does, but you might want to contact him if you are looking for a Financial Planner. I certainly will.

Justin Krane, a Certified Financial Planner^TM professional, is the founder ofKranefinancialsolutions.com. Known for his simple, savvy, holistic approach to financial planning, he has the unique ability to advise his clients on how to merge their money with their lives, so that they can make sound decisions with their finances, and get more of what they want in their lives.

8 Things I Want You to Know Right Now

1. Try not to panic. It's tough to make money that way.

2.  Keep your eye on the price of gold. For stocks to make a comeback, gold needs to go lower.

3.  The stock market needs leadership from Washington. Obama needs to appeal to business owners and tell Congress to come back from vacation and get a better budget deal done.

4.  If you had a target allocation of 50% bonds and 50% stocks, you probably are now 45% stocks and 55% bonds. Consider rebalancing back to what your initial allocation was.  This is general advice.  I have no idea what your risk tolerance is and when the PERFECT time is for rebalancing.

5.  Company insiders (CEOs) have been buying their own company stocks aggressively. That is a good thing.  Many retail investors have been selling out of mutual funds - great contrarian indicator - meaning the general public makes poor timing decisions.

6.   Based on your situation, consider converting your IRA to a Roth IRA. Talk to your financial advisor and CPA for all of the details.

7.  Call your mortgage person and consider refinancing your mortgage.

8.  Not sure what you should do based on your own circumstances?  Give us a ring.  310-989-0934 or 800-506-6071 or email us at This email address is being protected from spambots. You need JavaScript enabled to view it.. We're here for you.  No judging, just really solid advice to help you figure this financial stuff out.

This newsletter is for informational purposes only and should not be construed as individualized investment advice.

P.S.  Click Here to forward this information to anyone who might be interested.