Granite Park Luxury Condos in Pasadena CA - New Development

Granite Park - Pasadena CA

This is a video of the new development of luxury condominiums in Pasadena CA. For more information on this new development on Lake Ave., check out the Granite Park Pasadena Real Estate site where you can contact a Pasadena Real Estate Agent about buying one of these beautiful condos. If you are looking for other Pasadena Condos we also have information on the Pasadena Real Estate site.

Pasadena CA Condos - A Great time to Buy!

Pasadena Condos

Have you been considering getting our of your apartment and buying a condo? Tired of wasting $1500 a month on rent and not getting anything for it?

If so, this is the time for you. It has been several years since it was possible to buy a condo in Pasadena and pay less....yes, you hear me.....less per month for a mortgage than you would pay rent in a two or three bedroom apartment.

I recently had a condo go into escrow for $170k. It is a studio, but the monthly payments will almost be identical to paying rent on a one bedroom apartment, and she only put 3.5% down! If interest rates drop any lower, it is only going to get better!

The value of getting into a Pasadena condo and paying a mortgage (even if it is a little more than rent) is in the equity. As the property appreciates and the market goes back up, you are leveraging the bank's money (at a low interest rate) to gain equity for yourself!

For more information on buying a Pasadena Condo, click on the link above, or check out these condos on main streets like: Del Mar Condos & Cordova Condos.

Kinneloa Mesa Pasadena

The Kinneloa Mesa area is a great neighborhood in Northeast Pasadena. Located on a hill off of New York Blvd., the Kinneloa Mesa area is a great place to purchase a home.

The area was named after a man with the last name of Kinney. He was an early pioneer in Southern California. After building a two story home on the hill the people began referring to it as "Kinneloa," which means Kinney's hill in Hawaiian. After finding Kinneloa, Kinney went on to help develop and build Venice along the coast.

Today there are beautiful homes for sale in this area. If you are interested in learning more about the real estate possiblities in the Kinneloa Mesa area, send Dave Knight an email.

Latest Mortgage News and Updates

Fed Funds Rate at 1%

The Federal Reserve continues to take drastic steps in reaction to the current economic situation. Banks have been trading preferred stock with the treasury for billions in cash which the treasury hopes will increase liquidity and ultimately ease lending for the consumer. The Federal Reserve also dropped the benchmark lending rate to 1% on October 29th. The rate is now equal to the lowest it has been since June 25th 2003 when a huge refinance boom was spurred on by low rates and easy lending.

Fed Rate History: http://www.federalreserve.gov/fomc/fundsrate.htm

Stock for Cash: http://www.bloomberg.com/apps/news?pid=20601087&sid=a1ysz59UAZnM&refer=home

What does all of this mean to you?

Lending may not be as easy as it used to but the good news is if you have a mortgage that you got into in 2003 that is adjusting soon, your rate very likely may not go up. In fact depending on your mortgage your rate may still be lower than current rates. While most people don't want to stay in an adjustable rate mortgage or loan that is only fixed for a year at a time, at least it gives a chance to refinance into a longer term fixed loan.

On the positive side this market is ripe with opportunities. You know what they say "Buy low, sell high"! Well if you are looking at purchasing whether it be a new home or business, now could be an incredible opportunity if you have the money. Many business savvy customers are pulling out cash now in preparation to buy up investments at pennies on the dollar.

In this market Cash is King! There is a reason the rich get richer and the poor get poorer in these markets. So we can all complain about the losses in this economic downturn or you can put your resources to use and take advantage of what is happening!

Bull markets don't go up forever and likewise bear markets don't go down forever.

Show me the money!

Their are plenty of half price deals out there. I had a bank owned home in good condition that went on the market two weeks ago in Altadena for $249k. We had 10 offers in the first two days. On an FHA loan with only 3% down ($7,470) your payment including taxes is $1,917 . Once you factor in an estimated tax savings of $464 a month (based on a 35% tax bracket/ $15,925 yearly mortgage interest write off) that gives you an effective payment of $1,453. Not bad for a property that just over two years ago was estimated at $520k according to Zillow. Now this market may be starting to look a little bit more appealing.

I have lists of these properties before they even hit the market. So if you would like me to keep you up to date just shoot me an e-mail and I will put you on a special list. Just remember you must have an approval letter from me in order to submit an offer on any of these. I handle all of the REO's/Bank owned properties in the area.

Special Programs and Pricing

-We have a "Super Credit" program for non-conforming loans (729k+). Rates are currently in the low 6% range on this program which allows some of the best rates we have seen in a long time on the larger loan amounts. ( 720 fico and <75%>
-High Balance conforming 417k to 729k still in effect until Dec 31st. Take advantage of lower conforming rates at higher loan amounts.
- 100% financing on VA loans for anyone who was in the military or a qualifying reservist.
-FHA Only 3% down required through the end of the year.

Now is the time to take advantage. Don't wait until its to late, many programs are only good through the end of the year. Have your friends, family members or borrowers give me a call for a pre-approval or evaluation at no cost to them.

As always feel free to contact me anytime!

Best Regards,

Steven Lazerus

Estates Pasadena Development

This is a brand new development featuring luxurious 5 bedroom homes in Pasadena. If you are looking for new construction or would like the chance to customize your home, Estates Pasadena could be a great choice. Since these homes are still under construction, the builders can take into account buyers’ preferences on certain features of the homes. When I drove by today, I saw that the roofers were working on the roofs on some of the homes, so construction is definitely still progressing.

Developers in Pasadena as well as the rest of the country have been greatly affected by the credit crisis. Their business is built on easy access to credit to fund their purchases and construction projects which can stretch for years. In the current economic environment credit has tightened up. I have heard from local developers that the combination of slowed sales of homes and stricter lending has squeezed them like never before. And even outside Southern California one local government supervisor confirmed that developers have all but shut down their projects in his area, as very few plans were submitted to his department for review.

So if new construction real estate is appealing to you, it’s a great time to buy. Estates Pasadena is one of the beautiful new developments in our area, and we can set up an appointment for you to view the model home or any other Pasadena real estate that’s right for you.

To find the current availability for the Estates Pasadena development, search the Pasadena MLS for Cambridge Court or Avondale Road. The development is located at the intersection of Sierra Madre and Sierra Madre Villa in Pasadena. If you'd like to receive updates on Pasadena luxury homes, you can sign up for our Hot List, and we'll send info directly to your inbox.

Pasadena Townhouse - New Development in Pasadena

Villa Verona is a new development of townhouses in Pasadena. These brand new mediterranean style townhouses are priced as low as $490,000! If you are looking for a Pasadena townhouse or Pasadena condo, these units deserve a look.
For a free detailed report of these townhouses using the Pasadena MLS or to schedule a showing, email a Pasadena Real Estate Agent.

Townhouse Features:

• 2-3 bedrooms, 1..75-2.75 baths
• 1472-1590 sq. ft.
• 2 car garage
• Courtyard
• Gated community with Intercom System
• Italian Cabinets - "Scavolini Sax"
• Bosch Stainless Kitchen Appliances
• Designer wood floor and marble tile entry
• detailed interior design with recessed lightings
• crown moldings and dual pane windows
• $197/mo association fee

Pasadena New Development - Catalina Villas

There is a new development in Pasadena on the Southeast corner of the Catalina and Villa intersection. Or is it a new development? The Catalina Villas were built over a year ago and have been on the market ever since their completion. Right now there are at least 4 units that have still not sold. The price of these units has dropped nearly $100,000 over the past year! Currently they are priced in the high 300,000's and lower 400,000's, dependent on square footage and floor plan.

After visiting these condominiums I was very impressed. They offer a clean, gated condominium complex with creative floor plans that would be a great purchase for a first time homebuyer, student or investor. The only downside is that each unit is around 1000 sq. ft., but the floor plan makes the units feel bigger than they actually are.

For more information on this development email BeautifulPasadenaHomes.com