Richard Bleuze

Housing Market In The San Gabriel Valley

The industrial vacancy rate in the San Gabriel Valley is only 1.9%. In the year 2005, nearly 2.3 million square feet of space was under construction. The real challenge in the San Gabriel Valley is finding land for new development. The office vacancy rate in mid-2005 was only 10.0%. However, once again it is because it is not easy to find vacant land. In addition, many of the vacant land have what is known as Brownfield issues. A Brownfield is a site, or a portion of a piece of property, that has actual or perceived contamination and an active potential for redevelopment or reuse. Many areas across the country that were once used for industrial and commercial purposes have been abandoned - or are underused, given their location.

On the residential front, new homebuilding in the San Gabriel Valley is difficult because there are few large parcels of land, and communities are concerned about growth, traffic congestion and impact on public services. In addition, this economic downturn has affected many developers in the area. Pasadena has seen an increase in transit-oriented residential development and a surge in multi-family units. However, for the San Gabriel Valley as a whole, the bulk of new building permits have been for single-family residencies The resale housing market has a wide range of prices. La Canada Flintridge and San Marino are at the high end of the spectrum, with averages of $1,200,000 and $1,100,000 respectively. The most affordable cities in the San Gabriel Valley are Pomona and Baldwin Park, at $350,000 and $375,000 respectively. However, I'm sure with the economic downturn, the prices will drop even further. I know that, at the moment, homes in general are not selling.

Those who choose to live in one of the region's 31 communities find that the San Gabriel Valley offers something for everyone. Housing options range from new starter and move-up homes to select executive-level properties in some of the most exclusive neighborhoods in California. And, all these varied choices are within a short distance of quality educational institutions.

In addition, the San Gabriel Valley enjoys a year-round temperate climate. The San Gabriel Valley is within short distance from the beach, mountains, Santa Anita Horsetrack, and famous amusement parks.

In general, I would say that the San Gabriel Valley is the place to live!

ABOUT THE AUTHOR:

Richard sells real estate in the San Gabriel Valley which is about 12 miles South of Los Angeles. For more information, visit his website at http://www.westsangabrielvalleyrealestate.com

HARVEST HOEDOWN & CRAFT FAIR
October 25
Temple City Park
9701 Las Tunas Drive
10 a.m. - 4 p.m.

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HALLOWEEN CARNIVAL
October 31
Live Oak Park
10144 Bogue Street
6:30 - 8:30 p.m.

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Blood Pressure Screening
NOVEMBER 18
Free Blood Pressure Screenings
Live Oak Park Community Center
9:30 a.m. - 10:30 a.m.

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HOLIDAY DONATION DRIVES

SOCK-O-RAMA & MORE and
SANTA'S PAWS & CLAWS

Donations accepted at City Hall, Live Oak Park Community Center & the Civic Center

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LIGHTS ON TEMPLE CITY
December 7
Temple City Park
9701 Las Tunas Drive
3 p.m. - 8 p.m.

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HOLIDAY HOME DECORATING CONTEST
Applications available November 3 on line and at City Hall.
Pre-registration required

ABOUT THE AUTHOR:

Richard sells real estate in the San Gabriel Valley which is about 12 miles South of Los Angeles. For more information, visit his website at http://www.westsangabrielvalleyrealestate.com

Upcoming events in the city of Arcadia.

Santa Anita Race Track

Betting on the horses is cool and you can make some major and minor cash if you know what your doing and know what horses to bet on. I been there for the micro brew too and that's fun and crazy. Some people just don't know how to drink though and ruin it for everybody else shutting the micro brew down early with cops on their horses in full riot gear. Don't get caught in the tunnel head-in out.

Free Desert Camping Essentials Clinic
When: Oct 29, 2008 7:00 pm (Wednesday)
Where: Arcadia REI - 214 Santa Anita Avenue
Arcadia, CA

Take advantage of the cool weather and the desert mystique during Fall & early Winter. Come learn about the best spots to camp and hike, what specific gear to bring and how to best prepare for the desert weather.

Bean Counting Fridays - Borders in Arcadia
Where: 400 Baldwin Arcadia, CA 91007
When: Hours: Monday - Sunday 10:00 am to 10:00 pm

Every Friday is Bean Friday in our Seattles Best Coffee® cafe. Buy a bag of beans and receive a FREE medium beverage.

The Ruth and Charles Gilb Arcadia Historical Museum
Where: 380 West Huntington Drive, Arcadia CA 91006
When: Open Tuesday through Saturday from 10:00 a.m. to 4:00 p.m.
Closed Sunday and Monday

Exhibitions and Events
Featured Exhibitions, Family Fun Days, Adult Learning Series and Special Exhibits such as Seabiscuit: An American Icon and Daring Dames: Women's Firsts in Arcadia, make repeat visits to the Museum a must.

Collections
Museum exhibitions follow a timeline of the development of Arcadia and include artifacts and ephemera from the collection started in 1952 by the Arcadia Historical Society. Items reflect the area's unique history and include Baldwin Family treasures, numerous photographs of bygone landmarks such as the Ross Field Balloon School and Anoakia, period furnishings, and civic artifacts. Check out the "Artifact of the Month" for a brief history of selected pieces in the collection.

Halloween Fun for Kids - Haunted Halloween event!
Where: Arcadia Community Center
When: Friday, October 31 from 4:30 - 6:30pm

Haunted Halloween Happening at the fifth annual Haunted Halloween event!
Elementary school students can roam the haunted hallways of the
Community Center and enjoy activities like the Eewey Gooey Room, Scary Crafts.
Also featuring a Costume Contest, Trick-or-Treating and Goblin Games. This event is free of charge and open to the public

ABOUT THE AUTHOR:

Richard sells real estate in the San Gabriel Valley which is about 12 miles South of Los Angeles. For more information, visit his website at http://www.westsangabrielvalleyrealestate.com

West San Gabriel Valley Events Being Held In Monrovia:

Held every Friday from 5PM to 9PM - Farmers Market
Come to your local farmers' market to purchase the freshest produce available, support local farmers and artisans making everything from jewelry to cheese, and partake of some of the food stalls. Farmers' market regulars include tamale, roast chicken, and crepe vendors, and that's just to start.10/11-10/12.

3D Animation Expo (MONROVIA, CA 121 E Huntington Dr.)
WHAT: 3D Animation Exposition
WHEN: October 11 & 12 10:00 am - 5:00 pm
WHERE: Montecito School of Fine Arts 121 E. Huntington, Monrovia, CA 91016
DETAILS:
Live professional and student 3D animation demonstrations and simulations
Professionals in 3D animation will discuss their industry experience
$30,000 in scholarship money available at nationally recognized art school

MEET ASIAN WOMEN, Singles Dance $20 only (West San Gabriel Valley)
Saturday, October 11, 8pm-12midnight at:
Courtyard by Marriott in Monrovia
700 W. Huntington Drive,
Admission: $20
Please view details at:
http://www.pacificsoulmate.com/party.html

ABOUT THE AUTHOR:

Richard sells real estate in the San Gabriel Valley which is about 12 miles South of Los Angeles. For more information, visit his website at http://www.westsangabrielvalleyrealestate.com

Asking prices are still outrageous in the West San Gabriel Valley because of two factors:

#1 Many sellers do not have the ability to lower prices anymore. Think about it: If someone was able to buy a home in 2005 with $0 down or with a 10% down payment, there is no way he/she can resell it at a lower price-point because it suddenly becomes a short-sell subject to lender approval. This statement mostly applies to other area in the West San Gabriel Valley and not homes in Arcadia.

#2 Greed and misinformation. Agents will recommend an asking price based in comparable listings in the neighborhood/city. A quick look on Redfin will reveal that actual sale prices are slowly dropping each month. 5% in the West San Gabriel Valley.

Properly priced homes, homes priced about 25% below their asking price, will FLY off the shelves in the West San Gabriel Valley cities. As compared to other areas in the county of Los Angeles which at the moment are showing a 34% drop in value. It is unfortunate that the 300+ sellers currently on the market are not so lucky.

In Arcadia, sellers are still asking 2007 prices while homes in other areas of the West San Gabriel Valley have dropped around 20%. Now, however, sellers who were not willing to accept past offers will have their homes sit on the market while prices re-adjust - mostly down!.

I'm personally hoping that McCain/Palin win the election. But, I do not think it will happen. Thus, if Obama becomes president, he wants to allow people to be able to keep their houses even if they declare bankruptcy. In other words, allow these people to stay in house they couldn't afford in the first place. I only wish that I had known about this free house offer sooner..... Damn, I hate it when I miss a good deal.

ABOUT THE AUTHOR:

Richard sells real estate in the San Gabriel Valley which is about 12 miles South of Los Angeles. For more information, visit his website at http://www.westsangabrielvalleyrealestate.com