For property owners looking to rent their units Monterey Hills has always been a great investment. The proximity to USC and downtown LA makes these condos easy to rent. This could explain the decreased number of sales as owners are taking advantage of the easy rentals and holding on to their property until the market turns around.

Here are statistics for Monterey Hills Real Estate for December 2008 through February 2009:

Information gathered from ITEC (Pasadena Foothill Multiple Listing Service)

Search for available Monterey Hills condos and townhomes:

For weekly updates on Monterey Hills real estate market activity, please feel free to request market analysis reports with detailed information by clicking here. These reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

Posted by Irina Netchaev, Monterey Hills Real Estate Agent 626-627-7107

If you are thinking of buying or selling your Monterey Hills Townhome or Condo please give us a call for a comprehensive and free consultation. We can be reached at 626-204-3340.

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

(626)204-3340

So when you are ready to buy your first condo in Monterey Hills what should you look for?

1. Amenities: each Monterey Hills condo complex has different amenities and its own history. Almost all have pools and spa, but some Monterey Hills condo complexes have a recreation room, steam room, sauna, gym and paddle tennis courts.
2. Floor plan: In my experience, Monterey Hills has mostly 2 bedroom condos. Of course, there are 1 bedrooms and 2 plus den (which by the way some sellers try to convert and claim as 3 bedrooms – make sure to check the tax records) Mostly 2 bedroom floor plans come in two types: bedrooms on either side of the living room or together, on one side. Whats important to you? Do you have a small baby that youd want in a bedroom next to you? Or would you like more privacy and have the 2nd bedroom a bit away from you?
3. Floor Location of the condo: what is your preference? Do you like to be on the 1st, 2nd or 3rd floor? Pricing wise, 3rd floor condos are a bit more expensive since you do not have anyone living above you. 2nd floor condos are least expensive since you have someone living above and below you. 1st floor condos can be as expensive as 3rd floor is they have large patios. Some of the Monterey Hills complexes have 1st floor condos with huge patios.
4. Location of the condo within the complex: corner units are a bit more in demand. They usually have only one side neighbor, extra windows and better views.
5. Architecture: some of the older Monterey Hills complexes have more traditional floor plans – clean lines and angles, four wall rooms, etc. The newer ones have more angles in the rooms – a bit more challenging to decorate, but very lovely nonetheless.
6. Rules and Regulations: What are the quiet hours? Are pets allowed? Can you barbecue on your patio? Whats important to you? Review the Rules and Regulations carefully before buying your Monterey Hills condo.
7. History of the complex: some of the Monterey Hills condo complexes have been modified and rebuilt over the years. Some have better reputations and are just more in demand.
8. HOA Dues: HOA stands for Home Owners Association Dues. Each complex has their own dues. Most are based on the amenities and services provided like Post Security. For the most part, HOA dues are based on square footage of your unit.
9. Management of the complex: as you walk around each Monterey Hills complex, you will have a pretty good feel about how this condo complex is managed. Does it look like it has some deferred maintenance? Is the landscaping taken care of? Is pool patio furniture clean and in good shape? Is the gym equipment up to date and the gym looks clean over all?
10. Financial Health of the complex: Always ask to see the financial statements of the complex. Do they have a lot of money in reserves? Is the Association anticipating any special assessments? What are the HOA dues being spent on? Is there a trend of specific repairs that might affect your HOA dues in the future.

READ ALSO: Monterey Hills Neighborhood Overview

Make sure to hire a real estate agent that is familiar with the history of Monterey Hills and can guide you through the process of buying in the Monterey Hills.

If I can be of any assistance with your Monterey Hills Real Estate needs, please do not hesitate to email me at Irina@Irina4RealEstate.com or call me at  (626)627-7107  . Thank you!