$900k Listing Sells in One Day

Listings priced below market value move quickly in San Marino. Case in point - This listing at 700 Winthrop,(corner of Winthrop and El Molino) listed at $900,000, sold in one day. Near asking, all cash, 10 day escrow. Could the seller have received a better offer if they had exposed the listing to the market? Almost certainly, but everyone is under different circumstances.

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.