[quote author="CK" date=1242520809][quote author="IrvineRenter" date=1242514012][quote author="Geotpf" date=1242479404]So there's only one bank owned house in all of South Pasadena? That would support a belief that price might not fall much there.</blockquote>
It will still get dragged down by the surrounding neighborhoods.</blockquote>
I don't know about that. South Pasadena and San Marino seem to be their own market, due to the schools. Pasadena, North Alhambra, and North San Gabriel all border South Pas and San Marino, and while these immediately bordering neighborhoods have homes and streets just as great as either So Pas or San Marino --- the home prices drop hundreds of thousands of dollars when you cross school district lines. I know of what I speak, South Pas and San Marino were our original targets when we moved back to So Cal 4 years ago after a stint in the Bay Area. Irvine was a distant 3rd option. Price of admission was too steep up there, we ended up here.</blockquote>
I am going to agree with you on San Marino, but I am going to disagree with you on the surrounding cities. The problem with the FR map Deuce provided is that it was just for Pasadena, and not a map search, so the surrounding cities were excluded. Now, I searched the same map as Deuce's search, and I got nearly 3000 results, and FR would only show 500, so it still didn't look that bad. Here is what it looks like when you zoom into San Marino...
It looks like they under attack from the foreclosure terrorists, and have the necessary equipment to fight them back and keep them away from their fort.
http://i42.tinypic.com/25hekbo.jpg
When you scroll further south, you see that they are beginning to be taken over by the foreclosure terrorists, and adding more troops (green dots) daily.
http://i42.tinypic.com/6f439h.jpg
It appears that San Marino is safe for now, but their front lines have been completely rolled over and a few will eventually break through for an attack, albeit small. While San Marino will probably keep jager drinking riff raff like yourself out, the surrounding areas might let you sneak in, just bring a bottle of wine to give them a head fake.