Take The Stress Out Of Homebuying

Buying a Pasadena home should be fun, not stressful. As you look for your dream home, keep in mind these tips for making the process as peaceful as possible.

1. Find a Pasadena real estate agent who you connect with. Home buying is not only a big financial commitment, but also an emotional one. It’s critical that the Pasadena REALTOR® you chose is both highly skilled and a good fit with your personality.

2. Remember, there’s no “right” time to buy, just as there’s no perfect time to sell. If you find a home now, don’t try to second-guess interest rates or the housing market by waiting longer — you risk losing out on the home of your dreams. The housing market usually doesn’t change fast enough to make that much difference in price, and a good home won’t stay on the market long.

3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas from too many people will make it much harder to make a decision. Focus on the wants and needs of your immediate family — the people who will be living in the home.

4. Accept that no house is ever perfect. If it’s in the right location, the yard may be a bit smaller than you had hoped. The kitchen may be perfect, but the roof needs repair. Make a list of your top priorities and focus in on things that are most important to you. Let the minor ones go.

5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price or by refusing to budge on your offer may cost you the home you love. Negotiation is give and take.

6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself — room size, kitchen, etc. — that you forget about important issues as noise level, location to amenities, and other aspects that also have a big impact on your quality of life.

7. Plan ahead. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate home insurance, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.

8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be costs. Don’t leave yourself short and let your home deteriorate.

9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big financial commitment. But it also yields big benefits. Don’t lose sight of why you wanted to buy a home and what made you fall in love with the property you purchased.

10. Choose a home first because you love it; then think about appreciation. A home’s most important role is to serve as a comfortable, safe place to live.

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7 REASONS TO OWN YOUR OWN HOME

If you are considering buying a Pasadena Home, here are a few benefits to consider:

1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home.

2. Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005, and increased 88.5 percent over the last 10 years, according to the NATIONAL ASSOCIATION OF REALTORS®. In addition, the number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing.

3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.

4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.

5. Predictability. Unlike rent, your fixed-mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will increase.

6. Freedom. The home is yours. You can decorate any way you want and benefit from your investment for as long as you own the home.

7. Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.

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5 FENG SHUI CONCEPTS TO HELP A HOME SELL

Feng Shui is the ancient Chinese practice of learning to live in harmony with one's surroundings - being a part of nature rather than a blot on the landscape. There are several different schools of Feng Shui, with varying methods. To put the best face on a Pasadena Home listing and appeal to buyers who follow feng shui principles, keep these tips in mind.

1. Pay special attention to the front door, which is considered the “mouth of chi” (chi is the “life force” of all things) and one of the most powerful aspects of the entire property. Abundance, blessings, opportunities, and good fortune enter through the front door. It’s also the first impression Pasadena Home buyers have of how well the sellers have taken care of the rest of the property. Make sure the area around the front door is swept clean, free of cobwebs and clutter. Make sure all lighting is straight and properly hung. Better yet, light the path leading up to the front door to create an inviting atmosphere.

2. Chi energy can be flushed away wherever there are drains in the home. To keep the good forces of a home in, always keep the toilet seats down and close the doors to bathrooms.

3. The master bed should be in a place of honor, power, and protection, which is farthest from and facing toward the entryway of the room. It’s even better if you can place the bed diagonally in the farthest corner. Paint the room in colors that promote serenity, relaxation, and romance, such as soft tones of green, blue, and lavender.

4. The dining room symbolizes the energy and power of family togetherness. Make sure the table is clear and uncluttered during showings. Use an attractive tablecloth to enhance the look of the table while also softening sharp corners.

5. The windows are considered to be the eyes of the home. Getting the windows professionally cleaned will make the home sparkle and ensure that the view will be optimally displayed.

Compass Feng Shui, as the name suggests, uses the direction your house faces to arrive at certain information, as well as dividing your house (or even a single room) into 8 areas or enrichments.

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Source: Sell Your Home Faster With Feng Shui by Holly Ziegler (Dragon Chi Publications, 2001)

5 THINGS EVERY HOME BUYER SHOULD KNOW

Most buyers know the basics of a real estate transaction; the information directly effecting their situation such as mortgage payments, closing costs, commission and so on. Most feel confident in their choice of houses and may have put some time into researching the area and schools, but there are a few things that catch many people off guard. These details often appear at the last minute and the buyer is aware then details usually cannot be changed and the results can often cause delays and or loss of funds.

1. Your Initial Deposit: When you made an offer to purchase, this included a good faith deposit. This deposit is also called "earnest money". This deposit is held in escrow until the close and is credited to the buyers closing costs. But, if escrow gets cancelled what happens to the deposit? Most people are unclear about the disposition of their deposit; sellers assume the deposit is automatically theirs if the buyer cancels but this may not be the case. It's best to find out how this process works and what is needed in order for the buyer to recoup their deposit or what details constitute the forfeiture of the buyers deposit. This is often spelled out in the initial offer, so ask your Pasadena Real Estate Agent to explain the process.
2. Taxes: Most people are aware of their tax rate, but have never calculated what the actual yearly amount will be. Something else to consider, if you purchase a new home from a builder you're going to receive a supplemental bill shortly after the close of escrow. This supplemental bill will be equivalent to one year's worth of property tax. This is a shock to many people, since most people never know its coming. Another little detail that often slips through the cracks; assessments. Newer communities likely have assessments in addition to your basic property tax rate. Many people don't know that often assessments can change and be added yearly, which equates to higher property taxes every year.
3. Homeowners Association: When considering a home within a homeowner's association, it's always prudent to thoroughly read all the Covenants, Conditions and Restrictions (CCNR). Yes, this is often a huge document, but it's given to you before you close escrow for a reason; these CCNRs directly affect you. If you don't know and understand all the rules, this can lead to a less than ideal situation if you unwittingly break a few. Little things like permission to paint your garage door or installation of a backyard patio can lead to huge problems including legal action. Know the rules!
4. Home Warranty: Understanding how your home warranty works will save you a tremendous amount of frustration and hassle. Research before you close escrow, find a plan you understand and feel comfortable with, then request any extra coverage you think you need. Most home warranty companies offer basic coverage for appliances and air conditioning but, did you know they also offer coverage for an additional fee for such items as roof, well, and septic tanks?
5. Homeowner's Insurance: Of course everyone knows they need homeowner's insurance before closing escrow. Unfortunately most people wait till the last minute, run into snags, and then closing is delayed. If you approach this task as soon as you enter escrow this allows time to compare rates and if a snag does arise you have time to handle it, avoiding a hasty decision. If the previous homeowner has had a recent claim this can affect you the new purchaser. Better to know this early rather than the last minute.

Ask your Pasadena Realtor to help you understand the details that are a part of every real estate transaction and you'll enjoy smooth sailing every step of the way!
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New Stylish Designer Condo Homes

If you are looking to buy a luxury condo in Pasadena, you should see Orange Grove Circle Garden Homes. They are an exquisite condo community located near the heart of historic Old Pasadena on Orange Grove Boulevard. Located about ten miles northeast from downtown Los Angeles, this unique enclave of condo homes encapsulate the charm of a “small-town” feel with it’s timeless architecture, quaint restaurants and one of a kind shopping that are to be found in this truly unique area.

Pasadena is famous for hosting the annual Rose Bowl football game and Tournament of Roses Parade. Pasadena is the home of many leading scientific and cultural institutions, including California Institute of Technology (Caltech), Art Center College of Design, the Pasadena Playhouse, California School of Culinary Arts Pasadena and Norton Simon Museum of Art. With so much to do in the area, these optimally located luxury condo homes on renowned “Millionaire’s Row” will be sure to suit your lifestyle.

These attractive Pasadena condo homes range up to 3 bedrooms, with up to 2,200 square feet of living space with private patios, decks or courtyards and are surrounded with plentiful lush, mature landscaping. Now available to you in one of Pasadena’s most exclusive neighborhoods, Orange Grove Circle Garden Homes offers a unique collection of modern luxury condo homes with a variety of one-of-a-kind open floor plans. A perfect retreat awaits you.

Priced from the $700,000's, homebuyer's will appreciate these low maintenance homes as they're freed to optimize the cultural, retail and fine dining options just minutes beyond their door. Find a Pasadena Real Estate Agent for more information on these fabulous Pasadena Homes.

5 THINGS TO DO BEFORE PUTTING YOUR PASADENA HOME FOR SALE

There are many things you can do make your Pasadena home shine on the market. Make your home more appealing for potential buyers with these quick and easy tips:

1. Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before open houses begin.

2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.

3. Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.

4. Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.

5. Spruce up the curb appeal. Pretend you’re a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?

For more home selling tips or to find a Pasadena Real Estate Agent that can help you sell your Pasadena home visit http://www.soldbyramiro.com/

Top 10 Mistakes Buyers Make When Buying in Pasadena

LOOKING FOR A new home in Pasadena? Well, you're in luck -- sort of. First, the good news: Home prices are adjusting and buyers have more negotiating power than ever before. Now, the not-so-good news: Lining up financing has become slightly more difficult as droves of current homeowners default on their existing mortgages. This isn't to say you won't be able to secure the home of your dreams, but you will need to be a bit more cautious and conservative with your purchase.

Here are 10 mistakes to avoid when looking for a home in today's Pasadena real estate market.

You didn't set a budget
Buy a Pasadena home that's way out of your price range and you could well derail your ability to fund other important items such as retirement savings, your kids' education -- not to mention an entertainment budget.
Mortgage brokers will tell you how much you can borrow. But that amount may not be what you can afford to pay.
"What if you have a lot of kids or you like to travel a lot?" he said. "You've got to ask 'How is this housing purchase going to affect our monthly spending?' You have to look at all of your monthly expenditures."
Experts say your total monthly debts, including your mortgage, should not exceed 36 percent of your income before taxes.

You picked the wrong mortgage
These days, many homebuyers are rushing to secure a mortgage as fast as possible without fully exploring their options. That's because sellers often only consider bids from individuals who have been pre-approved for a loan. A word of advice? Pick your financing package with care.
First-time home buyers may qualify for a programs that requires lower down payments and easier qualification limits than standard loans.

You picked the wrong area
Some areas may just be out of your price range, and you'll probably have to search for a location that's affordable for your budget. That doesn't mean you should choose the cheapest locale.
If you don't like the location you'll be unhappy. What's more, you'll probably have a hard time selling your property if the area isn't good. Ask around and read the local papers to know how the area is faring economically, what the major issues are, how many resources it offers.

You didn't know what homes really cost
The best way to determine if you're getting a fair deal is by comparing the cost of the home you're interested in with similar homes in an area. You can do this easily by having your Pasadena Realtor provide you with a CMA (that's short for Comparable Market Analysis). A CMA lists such things as addresses of recently sold homes, prices, date sold, the number of bedrooms and bathrooms and -- ideally -- such things as the home's condition, its size and extra features.

You used a bad real estate agent
Don't make buying a home more difficult by choosing the wrong agent. You want a buyer's agent who works for you and understands your needs and financial limitations.
References from friends can help you find a good pro. Interview three, and ask to see their activity lists, which reveal every property the agent sold (or whose clients bought) in the past year. Look at sales prices. Make sure the agent has experience in the area where you want to live and the price range that you're looking for. Find a Pasadena Real Estate Agent.

You never went back to check on the neighborhood
If you're like most homebuyers, you probably spend many weekends looking for a new dwelling. But what happens to the neighborhood on weekdays or after dark? Is the house that's "convenient to town" sitting on a main thoroughfare that fills up with cars come commute time?
The only way to answer these questions is to go back and see what the neighborhood's like at various times of the day and week. Do your neighbors spend weekends with the stereo blaring? You want to know as much about the neighborhood as possible before you buy.

You forgot to consider resale
It's easy when you're house hunting to forget what it's going to be like to sell your home down the road. But as you tour homes, put yourself in the perspective of the sellers. You may be drawn to a home that has quirky features or no closets or just one, tiny bathroom. But others may not be as enthusiastic. When you buy, think about the day it comes time to sell.

You bought the most expensive home on the block
It's wonderful when you find your dream house, but if it's the most expensive home on the block you could have a problem. Quite simply, your neighbors' lower home values will dampen yours. Remember, people who buy a $500,000 home usually want to be surrounded by other $500,000 homes, not tiny $100,000 bungalows.

You didn't do an inspection
Bottom line: you should never buy a home without having it inspected. After all, you don't want to learn that you've bought a house that's filled with termites or has a frazzled electrical system. If you're building a new home, an inspection can ensure that all the work has been finished properly.
Home inspections typically run $300 to $600 and usually include a check of a home's heating and air condition systems, plumbing and electrical works, roof, walls, foundation/structure, drainage, the garage and basement.
What's frequently not covered? Termite, radon, asbestos, mold and lead inspections. Don't rely on inspectors to hire other pros to check for these items, that's part of your responsibility. Most home inspectors will describe what they do and what they don't do.

You forgot about closing costs
Think it's bad to pay tax when you eat out? Wait until you're paying closing costs, which can run 2 to 5 percent of the home's purchase price
A mortgage lender should provide you with a specific estimate of what costs will be. But keep in mind they include such things as origination (points) on a loan, escrow fees, title and homeowners insurance, legal costs, property taxes, fees to record your need deed and notary fees.