Dena Land News A
M O NT H L Y N EW SL ET T E R B Y L I N DA LA N E- WH IT E – K EL LE R W IL LIA M S REA LT Y S E R VI N G M Y H O M ET O W N OF A LT A D E NA/ PA SA D E NA A ND O UT L Y I NG A R EA S
PROS & CONS OF BUYING IN TODAY’S MARKET
February 2008
Linda Lane-White “Singing” Realtor ® CA Lic #01091347 Notary Public In T un e W ith Y ou r N ee d s
445 S. Fair Oaks Avenue Pasadena, CA 91105 Phone: 626-786-1231 Fax: 626-296-1979 www.lindalanewhite.com
Home Office: 519 Alameda, Altadena, CA
Inside this issue: Pros and Cons
1
Active Adults Corner
2
Recipe of the Month
2
Energy Facts
2
Ceedub Construction
2
For Sale
3
Ask An Expert
3
For Lease
4
Valentine’s Day Gifts
4
Recent Area Sales
4
Bill Lane
5
February In Dena Land
6
When the housing market slows down, buyers often wait on the sidelines for a clear sign that the market has recovered. The only problem with this strategy is that you can only know for sure that a market has turned through hindsight. In other words, you can’t time the market. A slow market is perceived as an opportunity by some buyers, as it takes longer for listings to sell. The inventory of unsold listings tends to grow, giving buyers more choice than is the case in a hot seller’s market when listings sell quickly. In a highinventory market, there are usually fewer multiple offers so buyers can cut a better deal with the seller. However, it pays to be careful about what you buy and how you finance the purchase. HOUSE HUNTING TIP: The least expensive home in an area may not be the best investment. Unless you are a contractor with years of experience fixing up properties, you should hire the best inspectors you can find to look carefully at the condition of a property before you buy. Many home buyers, particularly first-timers, don’t give enough attention to the cost of maintaining a home. Home maintenance is a neces-
sary part of home ownership. It can be expensive, particularly if you need to hire others to do the work. Some homes require more maintenance than others. A good inspector should be able to give you a good indication about how much work a home needs now and how much it will need on an ongoing basis. Buying a wellmaintained home that will also have relatively low ongoing maintenance is one way to keep your over-
all housing costs down. Inexperienced home buyers should resist buying a fixer-upper just because it’s offered at a cheap price for the neighborhood. It’s difficult to get a firm grasp on renovation costs during the inspection contingency period, particularly if it’s a big job. Remodeling projects can run over budget because of unanticipated problems like faulty electrical or plumbing, or an old furnace that goes bad. Or the city inspector could require that you do additional work to correct non-codecomplying improvements
done by previous owners. These sorts of costs can mount up so that you end up with far more invested in the property than it’s worth on the market. Try to avoid buying a home that has an incurable defect. This is something that you can’t change, like a location next to a freeway. These homes don’t hold their value well when the housing market softens. A risk of buying in a slow market is that the value of what you buy might drop before it rises. Or, prices could stay flat for some time, which means that you won’t build equity unless you pay down principal on your mortgage. If you should have to move during a time when prices are soft, you might not be able to sell for the amount you paid. To decrease this risk factor, don’t buy for the short term. Give careful consideration to how you finance your purchase. Stay away from mortgages that have short due dates and balloon payments. If the market in your area stays soft for longer than anticipated, you don’t want to be caught having to refinance at a time when your home might not appraise for the price you need to complete the transaction. THE CLOSING: A benefit of buying in a soft market is that you have the opportunity to buy at a reasonable price, without having to compete with other buyers. But, it makes no sense if you put yourself at financial risk.
Active Adults Corner Transition From Analog to Digital TV If you get TV reception through an antenna, as roughly 42 million homes do, things will change for you on February 17, 2009. Next year American television stations will end all analog broadcasts and begin broadcasting exclusively in a digital format, as mandated by the Deficit Reduction Act of 2005. Digital TV is a more efficient and flexible use of the airwaves, provides crystal clear pictures and sound and allows stations to broadcast multiple programs simultaneously instead fo broadcasting only one channel at a time. Many seniors on fixed income are not able to afford to buy a new television, nor are they able to afford cable T.V. or satellite T.V. service.
3 ways to transition to digital: 1. Subscribe to a cable, satellite or telephone company television service provider, in which case, analog sets will continue to function. 2. Purchase a new TV set with a built-in digital tuner. 3. Purchase a DTV converter box that will convert the new digital signal for an existing analog television set. Congress has appropriated $1.5 billion to fund a digital-to-analog converter box coupon program, which is administered by the government. You can request up to 2 coupons valued at $40 each, to go toward the purchase of a converter box. Boxes are expected to cost between $50 and $70. Coupons will be sent through the mail and
Over 50? Get http://overthe out of the house! hillganglosa ngeles.org
consumers will have approximately 3 months to redeem them. Applications for these LIMITED SUPPLY coupons will be accepted from January 1, 2008 until March 31, 2009. Call 1-888-DTV-2009 (1-888-388-2009) TTY: 1-877-530-2634 Online: www.DTV2009.gov Mail: P O Box 2000, Portland Or 97208 Fax: 1-877-DTV-4ME2 (1-877-388-4632) With the coupon(s) you will also receive instructions, a list of eligible certified TV converter boxes, a list of retailers, and frequently asked questions about using the coupon.
Crock Pot White Chicken Chili INGREDIENTS: 1 1/4 lbs. boneless skinless chicken 2, 15 oz. cans great northern beans or navy beans 1, 15 oz. can hominy or white corn 1, 4-1/2 oz. can of chopped green chiles 1, 10-3/4 oz. can condensed cream of chicken soup 1, 14 oz. can chicken broth 1/2 cup sour cream Chopped green onions (optional) Monterey jack cheese (optional) DIRECTIONS: Place chicken in a 4 quart slow cooker. Top with beans and corn. In a medium
bowl, combine taco seasoning, chiles, condensed soup, and chicken broth. Pour over top of ingredients in the crock pot. Cover and cook on low for 8 to 10 hours. Before serving, stir gently to break up chicken, then stir in the sour cream. Serve topped with green onions and jack cheese, if desired.
Remodeling? Adding On? Need a New Home Built? CEEDUB CONSTRUCTION (626) 786-1229 CA Lic #883002 Chris White, Owner (30+ years of experience) 519 Alameda, Altadena FREE ESTIMATE Residential and Light Commercial
No-brainers To Save Energy Now Energy Facts and Stay Warm! Instead of turning up the extra blankets on your bed, heat, put on a sweater. A light and use warmer fabrics long-sleeved sweater equals such as flannel sheets. almost 2ºin added warmth, To warm up your insides, while a heavy, long-sleeved make a big batch of soup. sweater adds about 4º. Eat some and freeze some for later. Take advantage of free heat from the sun. Open curtains and drapes on the sunny side of your home “When my life is over, during the day. But be sure I’m curious if I will feel to close the curtains and that I’ve lived it or just drapes when the sun sets. got through it.” - Elise To stay warm at night put Page 2
STAR® qualified fluorescent bulb, it would save enough energy to light 7 million homes and save $600 million in utility bills. A programmable thermostat could save up to $100 per year on utility bills. An ENERGY STAR® qualified furnace, when properly sized and installed, along with sealed ducts and If every U. S. household a programmable thermoreplaced just one incandesstat, can save up to 20% on cent bulb with an ENERGY heating bills. Dena Land News
Sho
! e l a rt S
Sho
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ale!
Unbelievable Price! 728 Colman Street, Altadena, CA 91001
Only $749,000 (only $305/sf) 4 Bedroom, 3.5 Bath House 2,456 sf home on a 6,840 sf lot
Private Oasis on a Quiet Cul-de-sac Completely rebuilt in 2006
2 master suites, 1 with a fireplace, walk in closets 2 master baths with dual sinks, Jacuzzi© Tubs, separate standing glass showers, & Toto low flow toilets Stainless steel Dacor stove, Jenn-Air refrigerator, Insta-Hot dispenser 2 Rannei gas “tankless” water heaters 2 HVAC units 2 bedrooms downstairs, 2 master suites upstairs
Huge family room upstairs Wrap around balcony Pool with child proof security fence Spa with multi colored lights New Built In BBQ with sink located on covered porch New copper plumbing throughout New electrical wiring throughout New roof
More Info? Call Linda Lane-White (626) 786-1231 lindalanewhite@kw.com COME FOR REFRESHMENTS ON SUNDAY, FEB. 17TH 1-4PM Q: A few weeks ago, my mother-in-law passed away. My husband and I are now trying hard to move my father-in-law closer to us. He is currently about 2 hours away. If he were to sell their home of 17 years, would he be entitled to the $250,000 or $500,000 principal residence sales tax exemption? A. Your father-in-law can claim up to $500,000 tax-free profits on the sale of his principal residence if it is sold in the same tax year as your mother-in-law’s death. That’s presuming they both occupied the home at least 2 of the 5 years before the sale to qualify for the Internal Revenue Code 121 exemption. If he waits until the following year to sell the principal residence, then he can claim up to a $250,000 tax exemption. However, presuming he inherited the half of the house owned by your late mother-in-law, he gets a new stepped-up basis on either 50% or 100% of the home's market value on the date of death. The exact stepped-up valuation depends on how they held title and in which state the house is located. He should consult his personal tax advisor to be certain he maximizes his principal residence sales tax exemption. Have a real estate question? Feel free to contact me. Linda Lane-White
Ask an Expert
Who do you know right now who’s looking to buy, sell or invest in real estate? Give me a call or send me an E-mail. I’m never too busy for your referrals to friends or family. T h is p ub l i c at io n is fo r in fo rm at io n a l p u rp o se s only an d does not c o n st it ut e le g a l or fin an c i a l advice. All information was obtained from sources deemed reliable, and while I do not doubt its accuracy, I cannot guarantee it. Some items provided by CAR Client Direct and Fidelity National Home Warranty. If your property is listed with another broker, this is not intended as a solicitation.
February 2008
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I’m still looking for a new neighbor!
This corner lot home is located just down the block from my home. It’s a great neighborhood near Christmas Tree Lane, the Rose Bowl, and JPL (3 blocks west of Lake Ave.)
3 Bedrooms, 2 Bathrooms Fireplace 2 car detached garage Spacious front & rear yards Washer & Dryer included Central Air/Heat Alarm system Pets OK with deposit Water, trash, gardener included
444 Alameda Street, Altadena For Lease Only $2,600 per month Call (626) 786-1231
Top 10 Unique Romantic Gifts Dare To Be Different This Year! 1. 2. 3. 4. 5. 6.
24k Gold Roses. Real roses preserved in 24k gold. www.romanceher.com Personalized Romance Novel www.yournovel.com Her Own Star. Name a star after your sweetheart! www.starregistry.com Personalized Love Poem www.agiftofpoetry.com Photo Memory Book. A gift that documents your romance www.snapfish.com/regcampaign (timeless gift) More Meaningful Flowers. Send her a gorgeous bouquet of paper roses, customized with your romantic message
www.justpaperroses.com Gourmet Chocolate Covered Strawberries. www.costco.com 8. Message in a Bottle. Letters are placed in a bottle and delivered in gorgeous packaging www.timelessmessage.com 9. Custom Canvas. Take your photos and transform them into beautiful canvas prints www.canvasondemand.com 10. Customized Box of Chocolate. Create your own customized box of gourmet chocolates www.danschocolates.com 7.
Recent Area Sales Days on Market
Sold Date
Sale Price
72 124 104 14 324 213 98 196 26
01/31/08 01/24/08 01/31/08 01/18/08 01/30/08 02/01/08 01/29/08 01/25/08 01/21/08
500,000 412,700 490,000 750,000 520,000 460,000 520,000 1,955,000 625,000
2791 Santa Rosa 3294 Dabney Ave 611 Stonehurst Dr 301 E Norman Ave 726 Ridgefield 402 Larkspur 513 Comstock 2040 Tondolea Ln 622 Vaquero
40 35 107 78 143 271
01/28/08 01/30/08 02/01/08 02/01/08 01/18/08 01/28/08
468,000 850,000 750,000 1,180,000 760,000 404,312
1116 N Catalina Ave 1625 Sierra Bonita Ln 1118 Las Riendas Way 1885 Robin Rd 66 Ross 1257 14th
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Address
Bed/ Bath
S.F. Home
S.F. Land
Altadena Altadena Altadena Arcadia Claremont Glendora Glendora La Canada Monrovia
3/2 3/2 3/2 3/2 3/2 3/2 3/2 4/4 3/2
1339 1210 1172 1502 1360 1248 1857 4351 1809
7370 6450 6912 9928 10600 6800 8453 11271 8820
Pasadena Pasadena Pasadena San Marino Sierra Madre Upland
4/3 3/2 3/3 5/3 3/2 4/3
1548 1782 2131 2892 1679 2203
10080 10829 condo 16970 8773 10125
City
Dena Land News
February is Black History Month In Loving Memory of Bill Lane As February is Black History Month, I thought it only fitting to let you know a bit about my father, Bill Lane. His biography will be listed in the Afro American National Biography at the DuBois Institute at Harvard University by the end of this year. Born William Clay Lane in Rosedale, Mississippi January 27, 1922. Wrote for Woman’s Magazine, Coronet, Esquire, Pageant, Downbeat, the Negro Digest, and the Michigan Chronicle. interviewing 100’s of entertainers, politicians, and civil rights leaders including Medgar Evers, Malcolm X and Dr. Martin Luther King, Jr. Scripter for “Eyes on Tomorrow” for WXYZ radio in Detroit, Michigan. Was one of the first writers for Ebony and Jet Magazines. Due to the low salaries paid by black newspapers, he became the 1st black “licensed” Public Insurance Adjustor in the state of Michigan and later the 2nd in California. Became the 1st salaried black disc jockey on a national white radio station, WJR, in Detroit, Michigan in 1952. Discovered such entertainers as LaVerne Baker, Johnny Ray and
February 2008
Della Reese, et al. Became the 1st Public Relations Director for Motown Records On June 21, 1961, he moved the family (7 kids) to Los Angeles where he became Entertainment Editor at the Los Angeles Sentinel. Worked as DJ for the Hollywood beat for XPRS and KJLH Worked with Maggie Hathaway and Bob Jones in creating the Hollywood/Beverly Hills Chapter of the NAACP, where in 1967 all three co-founded the NAACP Image Awards. As President of the NAACP in 1971, he worked with entertainment industry leaders to open studio doors and make it possible for minorities to gain fair employment in all facets of the industry and to be allowed into the unions. This sparked rights efforts that led to a Government forced “consent decree” which still governs the hiring and promotions of blacks in the industry today. During this time he fought to get the Image Awards televised. This materialized in 1973. He died on June 21, 1995. He stood for equality and justice for all people regardless of race, creed or color.
Dad, We Miss You!
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Pasadena Market Center 445 S. Fair Oaks Avenue Pasadena, CA 91105 Cell: (626) 786-1231 Office: (626) 204-3436 Fax: (626) 296-1979 Each Office Is Independently Owned and Operated
Linda Lane-White “Singing” Realtor® CA Lic #01091347 (since 1990) Notary Public (since 1987)
If You Would Like To Receive This Newsletter on a Regular Basis for Guaranteed Delivery (Snail or E-Mail) Call me or send me an E-Mail...LLW
In Tune With Your Needs
www.lindalanewhite.com
Search the MLS on my web site! February Happenings in Dena Land Don’t forget to check out the (almost) nightly entertainment offered at the Coffee Gallery at 2029 N. Lake in Altadena for information call 626/318-7917 or go to www.coffeegallery.com Every Wednesday, 8-11pm. The Robert Kyle Brazilian Trio at the Pasadena Arts Institute. Paseo Pasadena, 260 E Colorado Blvd. (Suite 206 on 2nd level in the Western Sector). www.robertkyle.com $10 Now through Feb 17 Orson’s Shadow. Pasadena Playhouse 39 S. El Molino, Pasadena 626/356-7529 or 626/792-8672 www.pasadenaplayhouse.org $25 to $65 Every Sat/Sun beginning Feb 16th. 9am-12pm. Christmas Tree Lane needs volunteers to assist in taking down the lights on the lane. FREE Coffee and donuts in the morning and a hearty lunch at noon. 626/403-1123 Feb 9, 8am. John Muir High School Alumni Softball Game. Girl’s Field. $25 donation helps the boys and girls baseball program. Contact Coach Mike Bendy at 626/625-8018 or send donations to P O Box 93367, Pasadena, CA 91109 c/o the Baseball Program. Feb 9, 11am. Ronald McDonald House 4th Anniversary Party & Family Reunion. Everyone is welcome. Come for McDonalds Quarter Pounders on the grill, desserts, games, activities for kids, moon bounce, boutique, tours of the Houses, magic show, etc. 763 S. Pasadena Avenue. 626/585-1588. FREE Feb 12, 2pm. Reflecting On A Life In Art. California African American Museum’s Executive Director, Charmaine Jefferson, interviews Artis Lane. CAAM, 600 State Drive, Exposition Park, Los Angeles. 213/744-7432 FREE! CLARIFICATION FROM LAST MONTH—Some of you were confused! Artis is NOT my sister, she’s my half sister’s Mother. Artis was my father’s first wife. Feb 13, 7pm. Movie Screening: “Cabin in the Sky” Huntington Library 1151 Oxford Rd., San Marino. Advance reservations required. Call to register 626/405-2128 www.huntington.org FREE Feb 14, 5pm. Shrine Auditorium. 39th Annual NAACP Image Awards. Special awards for Stevie Wonder and Aretha Franklin. See it on (tape delay) on Fox Television at 8pm. Feb 23, 9am. Pasadena Dance Festival. All day event offering dance classes, workshops for all dance levels. Classes are 9am to 5pm and last 45 min to 1 hour. Special evening performance at 7pm. Pasadena Civic Auditorium. 300 E Green Street. 626/3993676 or www.lineagedance.org $30 all day. $15 performance only. Feb 23, 10:30am. Grand Opening of The Huntington’s Chinese Garden. 1151 Oxford Rd., San Marino. 626/405-2100 www.huntington.org Feb. 29 Leap for Joy. Leap Year is Here! That means that each of us has an extra 24 hours or 1440 minutes this month. How do you plan to spend your bonus time? I’m sure I’ll be celebrating my sister, Philippa’s birthday. She only has a REAL birthday every 4 years. Happy Birthday, Philippa! Mar. 1, 12:00. John Muir High Class of 1979 Reunion Committee Meeting. Call Linda at 626/786-1231 for more information.