Realtor®

Market Report for Altadena and Pasadena | March 8, 2022

Market Report for Altadena and Pasadena | March 8, 2022

Altadena This week the median list price for Altadena, CA 91001 is $1,250,000. Market Action Index is hovering around 78, which is an increase over last month’s market action index of 76. Inventory has increased to 25. Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues. Pasadena This week the median list price for Pasadena, CA is $1,650,000. The Market Action Index is hovering around 63. This is less than last month’s market action index of 64. Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues. Inventory has increased to...

Paint Color Forecast 2022 – Favorable Shades That Are Likely to Trend

Article paraphrased from Cyndy Aldred, Better Homes & Gardens Inviting colors that bring about warmth and comfort are expected to be the most popular paint shades for 2022. From neutrals, to greens, to blues. Experts expect that there will be an emphasis on natural earth tones.    Warm Undertones Consumers are starting to move away from cool, white undertones towards more warm comfort shades.  Natural materials are starting to become increasingly popular in new construction. Such as natural stone, brick, and wood.    Paint Color: Tallow, Farrow & Ball    Restorative Greens   Global events are believed to be a determining factor in the shades consumers gravitate towards according to color experts. Paint manufacturers analyze trends and other societal influences to form color forecasts.    For 2022, research has suggested that restorative colors, especially those reminiscent of nature, will be popular due to their calming effect. Be on the lookout for green hues.  Paint Color: Bancha, Farrow & Ball   Organic Earth Tones Brown undertones, reflective of Earth’s foundation, will be the leading trend for 2022. Different saturated brown colors mixed with creamy whites will create beautiful shades that will bring attention to walls and details.    Wall Paint Color: Broccoli Brown, Farrow & Ball   Blues as Neutrals Blue has continued to show up in paint forecasts and trends for the past decade, and many designers believe it is here to stay.  Blues can be used as a neutral color if it has gray undertones and will blend in seamlessly with other neutral shades.     Paint Color: Lulworth Blue, Farrow & Ball   Tempting Taupes As trends...

How to Plan the Ultimate Staycation After Listing Your Home

So you just listed your home and you have a lot of potential buyers – yay! Now is the perfect excuse to plan a staycation. Alternatively, renting an AirBnB or hotel locally can be easier than constantly switching your schedule around for showings… and more fun!    Set a budget. First create a budget of what you are willing to spend. List your priorities then figure out how much you’re willing to spend.    Plan what you want to do. Luckily here in Southern California, there are a ton of things to do. Amusement parks, beaches, mountains, and wine countries are all a hop, skip, and jump away. Research what’s nearby you and make a priority list of what you would like to do. Here are some ideas: family movie night, spa day, local theater production, local game night, guided tour, fancy dinner   Use online resources. Scour through Groupon and see if you can find any local discount deals or promotions happening in the area.    Create an itinerary. Now that you have an idea of what you would like to do, create a schedule to make sure you can fit everything in!      Book a room. Although for staycations the idea is to stay home, if there are many showings scheduled, you might want to get a room. Find a local hotel room or AirBnB near you and close by to the planned activities for easier accessibility. Maybe access your credit card points to reserve cash for your move? Be a tourist. Treat this like any other vacation. Explore places you’ve never been before. Eat at...

5 Mortgage Misconceptions

There are plenty of misconceptions when it comes to securing a loan for your home. Below are the top 5 myths about getting a mortgage.  Myth: You need 20% down to buy a home    Larger down payments have advantages, such as better interest rates and avoiding Private Mortgage Insurance (PMI). However, having 20% is not a requirement for securing a home loan. Mortgage brokers and lenders prefer 20% down since it lowers their lending risk.    According to the National Association of Realtors, the average down payment on condos was 12%. For homeowners under age 30, the average sits at 6%. If you qualify for government-backed loans your required down payment will be even lower. FHA requires only 3.5% and VA-backed loans require no down payment at all.    Myth: Pre-qualification is the same thing as pre-approval    During a mortgage pre-qualification, a borrower answers questions regarding their financial situation. In order to be pre-approved, the lender must verify the information that the borrower has provided. In case false information arises, most sellers (and agents) will require a pre-approval over a pre-qualification letter from the lender.    Myth: You need perfect credit to get a mortgage    Credit is only one of the many things lenders look for when determining if you qualify for a home loan. They also look out for debt-to-ratio income, down payment, income, and savings.    There are programs and loans for borrowers with lower credit scores. Loans backed by FHA only require a score of 580 and most conventional loans require 620.   Myth: A 30-year fixed rate mortgage is always the best...

Prop 19: Transferring Your Property Tax Basis

What is Prop 19? Proposition 19 changed the rules for tax assessment transfers. In California, eligible homeowners could transfer their tax assessments to a different home of the same or lesser market value, which allowed them to move without paying higher property taxes. What are the new rules?   Homeowners over the age of 55 may transfer their tax assessments anywhere within the state and allow tax assessments to be transferred to a more expensive home with an upward adjustment. Previously the replacement home had to be less expensive and located within certain cooperating counties. The number of times that eligible homeowners may utilize this benefit is three times. Previously it was only one. Homes which are inherited and not used as principal residences will be reassessed at market value when transferred. Previously properties could be passed down to heirs without triggering a tax reassessment. Additional revenue or net savings resulting from the ballot measure to be directed to wildfire agencies and counties.   Are you considering making a move? Let’s have a strategy conversation!...

Hazardous Waste Disposal – LA County

Do you have hazardous waste or e-waste you need to get rid of?  Here is a resources list to help you dispose of any hazardous waste or e-waste in Los Angeles County and Pasadena.  Photo courtesy of LASAN Los Angeles County: LADWP Hazardous Waste Collection Program: Load up any hazardous waste in your trunk or the bed of your truck and drive it to one of these collection events to properly dispose of these items.  LADWP permanent collection sites for drop off: Another convenient and free way to dispose of hazardous material and e-waste is by dropping the items off at any of these permanent sites in Los Angeles county. Most of these sites are operable on Saturday and Sundays from 9am-3pm.  Here is an information sheet from L.A. Sanitization on S.A.F.E collection centers and items accepted.  E-waste collection may be picked up by calling 1-800-773-2489 or selecting Electronic Waste in the MyLA311 app.  Recycle paint: You can drop off paint at local retail stores. Here is a tool to help you find drop-off locations near you.  Los Angeles County Materials Exchange: If you have usable electronics,  list them on the LACoMAX online materials exchange site. Alternatively, you can donate usable electronics to Goodwill, Salvation Army, or Habitat for Humanity.  Battery disposal: Here is a directory of places to drop off old batteries.  Used motor oil: Click here for used motor oil collection centers.  LA County Public Works: Click here for LA County’s environmental links. Photo courtesy of LASAN Pasadena:  Los Angeles-Glendale S.A.F.E Center: 4600 Colorado Blvd, Los Angeles, CA 90039 Saturday and Sunday 9am-3pm  Accepted items South Pasadena’s...