November 25, 2012

The Only Thing Missing Right Now is the Beach

photo: Partners Trust
If (or 'when') the "Big One" strikes California and Pasadena becomes an seaside city then I hope this is what my future home will look like.  In the meantime, this particular home is for sale over at El Pescador Beach in Malibu...for $17,500,000!  It sure is a beaut!

Pasadena Home Prices Up, Inventory Low

According to figures compiled by realtor Phylis Harb, the average selling price for a Pasadena home was $730,100 in October 2012 compared to $643,823 same time last year.  For the last several months Pasadena has seen a gradual rise in prices.  But buyers these days are faced with a shortage of inventory.  Keller Williams agent Keith Sorem pointed out that there were only 156 homes on the market in October vs. 296 in October of 2011.

Along with many homeowners here in Pasadena I've been receiving a lot of mailers lately from agents inquiring about listing my place.  And as a homeowner (or, in my case, condo-owner) I should feel fortunate that the tide is finally turning.  Sure, there are still some caveats, notably the still-high unemployment, the fragile state of the economy (domestic and world) and the fiscal cliff problem.  But taking a peek at both Realtytrac and Foreclosure Radar I'm amazed at the huge reduction in foreclosure activity in and around the Pasadena area.  There are still many homes mired in the foreclosure mess, but also looking at areas surrounding Pasadena, like Highland Park and Eagle Rock, our region is on the road to recovery.  Home ownership this time around is more organic as opposed to the rampant speculation and easy money of years earlier.  But one can only keep his/her fingers crossed that this trend can continue.

Urban Farming...In Pasadena??

photo: Los Angeles Times

There was an interview article in last week's LA Times in which Patt Morrison talked to Tara Kolla who's pioneering the concept of urban farming in Los Angeles.  As I was reading the article I kept thinking of how we can apply the basic tenets of urban farming to Pasadena.  We are a city in which many houses sit on large lots and a growing farmer's market presence in several Pasadena spots.  I'll have to check on the local laws, both county and city regarding small, localized farming.  In addition to residential properties there are many empty plots north of the 210 freeway (Altaden and Sierra Madre, I'm also talking to you) that can be utilized towards urban farming, and many of those abut major streets such as Fair Oaks.  Imagine a small colorful or green oasis instead of empty or even blighted parcels.