We’ve just listed a sophisticated flat in the Castle Green, Pasadena’s famous 1898 landmark:

Facing east toward the sunrise, with two balconies perched above the treetops, it offers sweeping views of the City and the San Gabriel Mountains. A union of two separate units, #405 & #406 feature a living room, a bedroom, and two beautifully updated baths in addition to high ceilings, historic wood detailing, two faux fireplaces and polished concrete floors. The tastefully remodeled kitchen has marble counters, stainless appliances, period fixtures and custom cabinets. In both the living room and bedroom, there are lovely Murphy beds framed in wood and complete with shelves, niches and storage. Amenities include the use of the Castle Green’s public spaces, a doorman and elevator operator,  full-time building staff, and proximity to the Gold Line and the wealth of Pasadena’s cultural resources.

The Castle Green is located at 99 South Raymond Avenue. This home, priced at $389,000, presents a rare opportunity to own a very livable, secluded condominium in the heart of Old Pasadena. Please visit our website, www.Haussler.com, for additional photos and information.

Our website, www.Haussler.com, has just undergone a major face lift. In honor of its 10-year anniversary, Steve and I decided to give it a completely new look.

But we didn’t stop there…we added tons of new content, too. It took over a year to finish, but we’re quite happy with the result. Please visit, explore, and let us know what you think.

The California Association of Realtors (“C.A.R.”) reported that home sales increased 2.1% in September in California compared with the same period a year ago, while the median price of an existing home declined 7.3%.

“The market’s momentum continued in September, as many home buyers took advantage of the federal tax credit for first-time home buyers,” said C.A.R. President James Liptak. “The success of the federal tax credit is clear. Nearly 70% of first-time home buyers report that the tax credit was ‘the most important’ or a ‘very important’ factor in their decision to buy a home.”

“C.A.R. is calling for the U.S. Senate to swiftly adopt the Dodd-Lieberman-Isakson amendment, which would extend the federal tax credit through June 30, 2010, remove the first-time buyer requirement and extend the credit to all home buyers, and increase the qualifying income limits so more families are eligible for the credit.”

Closed escrow sales of existing, single-family detached homes in California totaled 530,520 in September at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR® associations statewide. Statewide home resale activity increased 2.1% from the revised 519,530 sales pace recorded in September 2008. Sales in September 2009 increased 0.6% compared with the previous month.

The statewide sales figure represents what the total number of homes sold during 2009 would be if sales maintained the September pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

The median price of an existing, single-family detached home in California during September 2009 was $296,090, a 7.3% decrease from the revised $319,310 median for September 2008, C.A.R. reported. The September 2009 median price rose 1.1% compared with August’s $292,960 median price.

“A new milestone was reached in September, when five C.A.R. regions reported positive year-to-year increases in the median price, the first such increase since January 2008,” said C.A.R. Vice President and Chief Economist Leslie-Appleton-Young. “September also marked the seventh consecutive month of month-to-month increases in the statewide median price and the first single-digit decline in the year-to-year median price since October 2007, after 22 consecutive months of double-digit decreases.”

“Efforts by the government to stimulate housing and the economy clearly are impacting the market. Sales have exceeded 500,000 homes for 13 consecutive months, and now are 33.1% higher on a year-to-date basis compared with 2008,” added Appleton-Young.

Highlights of C.A.R.’s resale housing figures for September 2009:

• C.A.R.’s Unsold Inventory Index for existing, single-family detached homes in September 2009 was 4.2 months, compared with 6.5 months (revised) for the same period a year ago. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.
• Thirty-year fixed-mortgage interest rates averaged 5.06% during September 2009, compared with 6.04% in September 2008, according to Freddie Mac. Adjustable-mortgage interest rates averaged 4.59% in September 2009, compared with 5.14% in September 2008.
• The median number of days it took to sell a single-family home was 33.6 days in September 2009, compared with 46.2 days (revised) for the same period a year ago.

Regional MLS sales and price information are contained in the tables that accompany this press release. Regional sales data are not adjusted to account for seasonal factors that can influence home sales. The MLS median price and sales data for detached homes are generated from a survey of more than 90 associations of REALTORS® throughout the state. MLS median price and sales data for condominiums are based on a survey of more than 60 associations. The median price for both detached homes and condominiums represents closed escrow sales.

In a separate report covering more localized statistics generated by C.A.R. and DataQuick Information Systems, 65 of the 406 cities and communities reporting showed an increase in their respective median home prices from a year ago. DataQuick statistics are based on county records data rather than MLS information. DataQuick Information Systems is a subsidiary of Vancouver-based MacDonald Dettwiler and Associates. (The lists are generated for incorporated cities with a minimum of 30 recorded sales in the month.)

• Statewide, the 10 cities with the highest median home prices in California during September 2009 were: Manhattan Beach, $1,502,000; Burlingame, $1,401,100; Saratoga, $1,297,500; Los Altos $1,275,000; Palos Verdes Estates, $1,163,500; Calabasas, $1,073,500; Newport Beach, $1,050,000; Los Gatos, $1,050,000; Santa Monica, $1,025,000; Cupertino, $950,000; and Rancho Palos Verdes, $912,500.
• Statewide, the cities with the greatest median home price increases in September 2009 compared with the same period a year ago were: San Juan Capistrano, 40.2%; San Rafael, 30.5%; Moorpark, 29.8%; Thousand Oaks, 20.7%; Calabasas, 19.3%; Lake Forest, 17.7%; Walnut, 13.6%; El Cajon, 13.5%; Tustin, 13.1%; and Big Bear Lake, 12.1%.

Some interesting news on the home mortgage front from the California Association of Realtors:

Near historic low mortgage rates, favorable home prices, and the federal tax credit for first-time home buyers have contributed to home purchases in the past year. However, the onset of the credit crisis, new regulations for home appraisals, and more stringent guidelines for purchases and refinances have resulted in confusion for some potential home buyers.

While using a mortgage broker to find the best loan may work for some buyers, it may not always be the best route. In the past, mortgage brokers could “shop” a loan to multiple lenders to help find the best deal. However, new practices and procedures under the Home Valuation Code of Conduct (HVCC) have hampered mortgage brokers’ abilities, namely that lenders may no longer accept home appraisals commissioned by brokers. As a result, consumers may have to pay for new appraisals with each lender, which costs time and money. However, consumers who are very busy or need guidance may find that working with a mortgage broker is the easiest solution.

Qualifying for a mortgage under current lender standards is more difficult nowadays than in years past. Beginning Nov. 1 or Dec. 12, depending on the type of loan, Fannie Mae is tightening its lending standards to the 620 credit score benchmark—including loans backed by the Federal Housing Administration and Veterans Affairs. Borrowers with credit scores of less than 620 will find it very difficult to qualify for a mortgage. However, to qualify for the best rates, consumers generally need credit scores of 720 and must have verifiable, steady income. As for loan type, most real estate professionals agree that a fixed-rate mortgage is the best choice for buyers and refinancers.

We’ve just listed 811 North Altadena Drive in Pasadena for $489,000. This lovely townhouse is located in Mountain Park Villas, set in a great Northeast Pasadena neighborhood. The spacious floor plan features three bedrooms, two and one-half remodeled baths, open kitchen with granite counters and walk-in pantry, front patio, and an attached two-car garage. The master suite has a large bath, a balcony, plus views of Victory Park and the San Gabriel Mountains. Recent upgrades include maple floors on the first floor and carpet on the upper level, while other amenities include central air and a gas fireplace in the living room. The well-maintained complex offers broad walkways, a pool, spa and sauna in addition to convenient access to shopping and transportation.

This is an excellent value for a turn-key property! And, it’s a standard sale — not a short sale or an R.E.O.

Please visit our web site, www.Haussler.com, for additional photos and stop by the Open Houses on Thursday, October 15th, from 10:00 AM to 2 PM, Tuesday, October 20th, from 10:30 to 1, and Sunday, October 25th, from 2 to 4.

Steve and I are proud to be sponsoring the 2009 Craftsman Weekend House Tour!  This annual event, presented by Pasadena Heritage, is the signature event of the Craftsman Weekend. The in-depth tour provides the opportunity to experience the rich variety of Craftsman architecture that makes Pasadena a destination for Arts & Crafts enthusiasts from across the country. Experienced docents provide detailed histories of each of the featured homes while guests examine the natural materials, fine craftsmanship, and exquisite detailing that exemplify the Craftsman era.

The tour will be held on October 18th, between 9 AM and 4 PM. Tickets are $40 for members of Pasadena Heritage and $45 for non-members. For more information, please visit www.pasadenaheritage.org. We hope to see you there!

This upcoming series, sponsored by Altadena Heritage, sounds like a blast. In the interest of full disclosure, Steve is on the Board of this organization.

We’ve just listed a wonderful property at 1391 North Catalina Avenue for $635,000:

This gracious 1905 bungalow is located on a spacious lot in Pasadena’s Historic Highlands Landmark District. Tastefully updated and renovated, it features three bedrooms, one and three-quarter baths, formal dining room, and custom kitchen with breakfast bar and seating area. The master suite has an adjoining den with a wall of closets, and a full bath. On the upper level, there are two additional bedrooms and a remodeled three-quarter bathroom. Authentic period details — broad front porch, built-in cabinetry, crown moldings, wainscoting, multi-paned wood windows, and beamed ceilings — are found throughout. Recent upgrades include copper plumbing, new drain lines, new electrical wiring, central heat & air, and retrofitted foundation.

In the back, there is a covered deck that is ideal for outdoor dining and entertaining. The fully-fenced yard has been professionally landscaped and has mature plantings, fruit and shade trees, plus a detached two-car garage.

Here is a rare opportunity to own a turnkey character home.

Visit our web site, www.Haussler.com, for additional photos and information. And, please join us at the Open Houses on Tuesday, September 22nd, from 10:30 to 1, Thursday, September 24th, from 10 to 2, and Sunday, September 27th, from 2 to 4!

Here’s some news to make current and potential home owners smile: Long-term mortgage rates fell for the third week in a row, with 15-year fixed-rate loans hitting a new record low and the 30-year fixed-rate hovering at just above 5 %, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey.

The 30-year fixed-rate mortgage (FRM) averaged 5.04% — with an average 0.7 point — for the week ending Sept. 17, Freddie Mac said, down from 5.07% last week and 5.78% a year ago.

Rates for 30-year fixed-rate loans hit a record low of 4.78% in April, in part due to the Federal Reserve’s commitment to purchase up to $1.25 trillion in mortgage-backed securities issued by Fannie Mae, Freddie Mac and Ginnie Mae.

The 15-year FRM this week averaged 4.47% with an average 0.6 point, down from 4.5% last week and 5.35% a year ago. It’s the lowest the 15-year FRM has been since Freddie Mac started tracking it in 1991.

Five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans averaged 4.51% with an average 0.5 point, unchanged from last week and down from 5.67% a year ago.

One-year Treasury-indexed ARMs averaged 4.58%, with an average 0.5 point, down from 4.64% last week and 5.03% a year ago.

Those rates are for borrowers with an 80% or lower loan-to-value ratio on loans eligible for purchase by Freddie Mac. Borrowers making smaller downpayments or seeking loans too large or risky for Freddie Mac can expect to pay more.

We’ve just listed a home at 4739 Nob Hill Drive. Offered at $505,000, it is truly an amazing value:

This tri-level Traditional, built in 1959, is located in sought-after Mount Washington. Its light-filled floor plan offers three bedrooms, one and three-quarter updated baths, spacious eat-in kitchen, family room, plus a den well-suited for us as a home office. Other amenities include hardwood floors, fresh interior and exterior paint, and an attached two-car garage. A deck overlooking the terraced yard offers canyon views in a serene setting.

Visit our web site, www.Haussler.com, for additional photos and information. And, please stop by the Open House on Sunday, September 20th, from 2 to 4!