1270 Hillcrest Avenue
Secluded View Estate Pasadena

House: 7,112 Sq. Ft. (Measured)
Lot: 40,888 sq.ft. (Assessor)
Built in: 1939/Updated
Architect: Jonathan Ring
Style: Monterey Revival
Builder: J. Pierre & Son

Offered at: $6,650,000

A stunning two story Monterey Revival masterpiece designed by noted architect Jonathan Ring together with esteemed builder J. Pierre & Son… and situated on over one acre (40,888 sq. ft.) in the Premier Pasadena estates location, adjacent to the Langham Hotel. This home combines the integrity of design together with the finest of materials which has been impeccably updated to today’s lifestyle.

This residence features: an impressive two story entry, pretty powder room, master bedroom suite with four additional bedroom suites, six full baths and two half baths, elegant living room with fireplace opening to rear terraces, beautiful spacious formal dining room also opening to rear terraces, library with fireplace, Japanese Mahogany bookshelves, and bar with Italian marble countertop with custom cabinetry. State of the art gourmet kitchen with adjoining family room, fireplace all opening out to charming private patio, service room and two car detached garage with Chauffeur’s quarters.

This very private, secluded estate features professionally designed front and rear gardens including: incredible mountain and valley vistas, impressive rear terraces with three custom designed fountains, salt water pool and Jacuzzi-type spa, rolling grassy area, mature specimen trees including Oak, Redwood, Ornamental Pear, Citrus, Italian Cyprus, and Birch … and beautiful perimeter gardens… all add to the ambiance and extend the livability of this incredible Pasadena Estate.

Additional Features:

• State of the art Security System.
• Four zone HVAC.
• Elevator servicing three floors.
• Steel Beam Construction.
• 2,000 sq.ft. Basement with abundant storage.
• Separate Wine room with custom cabinetry.
• Light filled Gym with adjacent bath.
  

Grounds:

• Automatic sprinklers, front and rear.
• Circular driveway with Porte-Cochere.
• Salt water Pool and Spa.
• Rose Garden.
• Climate controlled Greenhouse.

Both San Marino and South Pasadena Voters Approve Taxes to Support Schools

On May 5, residents of San Marino passed a $795 annual property tax to support its public schools. A similar measure was passed in South Pasadena this month in which parcel owners will pay a $288 annual tax to raise about $2 million a year for the school system.

By passing these measures, residents acknowledged the importance of sustaining high-quality public education in their cities. A main reason many residents move to San Marino and South Pasadena is for the quality of the public education that the cities provide.

In recent times, with the down economy many families have chosen to remove their children from high tuition private schools, invest in San Marino real estate and use the public school system. These families pay a premium up front, but end up saving in the long run, especially those households with multiple children.

It's Snowing in San Marino!

Lacy Park is transformed into a winter wonderland of snow and sledding every year on Snow Day. The event features activities for the entire family to enjoy. Forty tons of snow are delivered for children to make snowmen, throw snowballs and sled down ramps. Food, rides, a children’s craft fair and pony rides are also among the day’s highlights.

Stately Traditional in San Marino

This elegant traditional home is centrally located in San Marino; within walking distance to schools, downtown and the new library.  It features five bedrooms (four upstairs), three bathrooms plus powder room, formal dining room, living room, family room with glass doors leading to a large flat grassy yard and bonus room. A perfect family home. Coming soon.

Beautiful Mediterranean Home, Coming Soon!

A beautiful two story Mediterranean home situated on a large (12,250 sq.ft.) lot on one of the most desirable streets in San Marino… within walking distance to Valentine elementary school, Huntington middle school and the new San Marino library.

The home features: four bedrooms, three baths, gracious step down living room with fireplace, elegant formal dining room, “New” gourmet kitchen is a cook’s delight with breakfast room, spacious “Great” room with fireplace and large picture window overlooking the pool. French doors open to the rose gardens, pool, and loggia … and a two car detached garage with outdoor pool bathroom.

An abundance of architectural detailing together with professionally landscaped front and rear gardens, grassy area, covered loggia off the formal living room … add to the ambience and livability of this exquisite San Marino residence.

Coming the first week of November, 2008.

It's a Great time to Buy

With interest rates near historic lows and home prices declining in some areas, homes are more affordable than we have seen in several years.  In addition agency and FHA Jumbo loans to $729,750 will be gone on Dec 31st, replaced by new agency conforming and FHA limit of $625,500 beginning Jan 1, 2009.  

Multiple Offers are Alive and Well

During the hay day of California real estate, it was a common occurrence for properties to have multiple offers and to sell well above their listing price. Many people believed that those days were well gone, but in San Marino, we are seeing a resurgence of multiple offers at 100K’s above the listing price.

This property, which we represented the seller, at 2890 Monterey Road, San Marino was listed at 1,850,000. The property has 4BR, 3BA 3,208 sqft on a 13,909 sqft lot. We received five offers on the property, four at asking price or above, with the accepted offer being over 100,000 over asking.

This property, which we represented the successful buyer, at 843 Santa Anita, San Marino, is listed at 1,288,000. The property features 3BR, 2BA, 2,430 sqft on a large 16,016 sqft lot. This property received 27 offers, 20 over asking with many of them 200k over asking.

Although these properties do not represent the majority, it does show that if the house is priced right, and has desirable characteristics, buyers are still willing to pay well above asking price. When involved in multiple offers, it is tremendously important that you are represented by a knowledgeable, experienced and respected agent. As in many cases, the offer that is accepted isn't the highest offer. Sellers and their agents take into account many factors that as a whole represent the overall strength of the offer that will attribute to a successful and smooth completion of escrow.

A combination of factors are influencing the strong market in San Marino but I will focus on two main factors: the public schools system and the weak US dollar. With its #1 API ranking in the state, the San Marino Public School system plays a tremendous role in the strength of the housing market. Having grown up in San Marino, and matriculated from K thru 12 in the San Marino School system, I have many childhood friends who are now moving back to San Marino for its school system. Their reasoning is simple, by using public schools, their children can receive the same quality education as private schools, while saving hundreds of thousands of dollars. A friend named Charles, who went to private school in Pasadena, said he calculated that he would save 400,000 in tuition fees by sending his kids to San Marino Schools, so the premium placed on the property he is interested in San Marino, 200k above the home he is interested in Sierra Madre, is well worth it by Charles’ reasoning. The second factor is the weakness in the US dollar. We are seeing a surge of foreign buyers who are buying for investments, secondary residences and primary residences. Whereas in the past, foreign buyers where mainly from Asian, with the current strength of the euro, we are experiencing a surge of European buyers. These buyers are often all cash buyers, or take small loans, so the crunch in the lending market tends not to affect them.

For a link to school data: including demographics, enrollment and graduation stats, please visit the links section of our website.