August 18, 2008

My Favorite Listings Sold or Off Market in Pasadena 91107

Home sale trends in East Pasadena are plainer than the signs in today’s Zen Monday entry on Pasadena Daily Photo. The photograph looks like it was taken in the foothills of zip code 91107, and its No Parking signs point outward in front of a fenced-off empty parking lot.

car parked My Favorite Listings Sold or Off Market in Pasadena 91107Four buyers can now park in front of zip code 91107 homes I’ve tracked on Redfin’s newly upgraded Favorites page. Two other sellers are still waiting to park somewhere else.

The change in status of my Redfin Favorites caused by these four buyers is now easier to track, and the Favorites page is easier to use. Individual listings can be expanded without opening a new window.

If you store Redfin email updates on neighborhood listings, you can also find original listing prices on sold properties (these disappear from the MLS when the property is sold). Here’s my report:

Six Pasadena 91107 listings I featured in previous posts have sold or gone off market, while 5 are still active.

SOLD:

1265 Michillinda Ave.
$750,000
(7/30/08)
Listing price: $769,000 (6/5/08)

1385 Rexford Avenue
$634,000
(7/9/08)
Listing price: $689,000 (5/13/08)

1475 Riviera Drive
$620,000
(6/20/08)
Listing price: $689,000 (6/6/08 – came back on the market after falling out of escrow)

3710 New Haven Road
$820,000
(7/18/08)
Listing price $888,000 (6/4/08 – came back on the market after falling out of escrow)

OFF MARKET:

930 Crestview Drive
Listed at $750,000 and reduced to $725,000 before going off the market.

620 Mercedes Avenue
Listed at $620,000, eventually reduced to $565,000. The last email I received on this property showed its status as “contingent,” however, no sale appears to have taken place and it is now off the market.

ACTIVE:
I list two of the five remaining favorites below. The first one is priced at almost $100 less per square foot than all the others. The second is the most expensive of the five.

3690 Mayfair Drive
$625,000

3 bed/2 bath
1,750 sq.ft.
$357 per sq.ft.
On Redfin 80 days
No photos of this house are available.

1155 Rexford Drive
$800,000

3 bed/2 bath
1,698 sq.ft.
$471 per sq.ft.
On Redfin 73 days
This is advertised as a view home and a short sale subject to lender approval. Since the last sale price is $550,000 (2003), it appears the sellers took out their bubble equity.


  • BlogReader
    Thanks Jeff.
  • Jeff
    well, coming from someone who's been looking at homes in the Pasadena area for a little while now, here's my 2 cents. 91107 near San Marino is very nice. it's also decent east of altadena and west of rosemead. i'd avoid any homes within 2 blocks of the 210.

    if you can afford it, the 91106 south of the 210 and the 91105 W of Ave 64 are the way to go.

    avoid anything east of Lake to the Rose Bowl and N of the 210.

    the 91104 is also really nice especially in between Lake and Hill N of Orange Grove and along Orange Grove, Casa Grande, and Mountain.

    -Jeff
  • BlogReader
    Thanks for the comprehensive reply. Well, these forums are not real estate forums, just regular forums on websites such as city-data.com. When I said they suggest to stay away (mostly from renting) its because of other reasons such as, being less walkable than other areas of Pasadena, safety, etc.
  • Elise Kalfayan
    Please let me know which online Pasadena real estate forums you are following! I'd like to read the comments of others following the market in detail.

    As far as the 91107 zip code is concerned, I would not agree that it is an area to avoid in general. Perhaps you are confusing it with zip code 91103 north of the 210 (and east of the Arroyo).

    In 91107, streets just north and south of the 210 are probably less desirable. Just a few blocks in either direction, though, and there are neighborhoods of charming older homes.

    The far southern end of 91107 borders on San Marino, and the neighborhoods are very nice (and expensive).

    The far northern end has view estates and hillside homes that are probably overpriced at this point, but again, these are nice neighborhoods.

    The Hastings Ranch area north of the 210 is more of a traditional mid-century suburban tract. Homes here have few individual touches or luxury features, although some have been remodeled and upgraded. Here, also, the prices are high, perhaps too high for the product being sold.

    I imagine forum comments are focused on price and its future direction in zip code 91107. Redfin shows that asking prices per square foot are $432 for single family homes. Of the favorites I tracked, the sales price per square foot averaged $350 (when I eliminated one of the four sales, which looks like an outlier).

    Again, direct me to those forums; I'd like to read what others are saying about 91107.
  • BlogReader
    I have been looking into Pasadena, and all the online forums seem to suggest to stay away from the 91107 zipcode, especially north of the 210 fwy. Would you agree? What areas in the zipcode would you buy in and what areas would you not buy in?
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