Real estate pros weigh in on Arcadia home size debate. Explains Arcadia residential land investment. Real estate professional Eric Rosa says big homes are not hurting real estate values and warns that the proposed ballot measure for April 12 to enact tougher limits on square footage, would be policy that can't be overturned by elected officials and would require a ballot initiative in 2018 to rescind voter-approved code amendments.
Race restrictions in Arcadia assures future property investments. No colored population in city, a record unparalleled in this section of the San Gabriel Valley. See hard copy in subject file Real Estate.
Mrs. Raymond A. Dorn, wife of Pasadena real estate man, who developed much of the property north of Foothill Boulevard in Arcadia, was killed and her husband injured in an automobile accident at Rosemead Boulevard and Callita Street.
California home sales are growing as values fall. A chart of October's median home prices gives a picture of the local real estate landscape. Arcadia's median home price in October, 2008 was $697,500, down 12.1% from the median price of $793,500 in October, 2007.
City to release first round of education campaign on Arcadia real estate rules and local zoning code in a forthcoming City newsletter. The campaign will include public meetings in November and an advisory committee comprised of Arcadia residents.
Arcadia City Council declines to further consider moratorium on residential construction. Opponents of temporary development freeze turn out in force. State law requires a five-member municipal panel have at least four votes to approve a moratorium on real estate development. The Council could not muster majority support.
A public hearing Wednesday night before the Arcadia City Council on a draft Environmental Impact Report for an extensive addition to Whispering Pines Estates drew a mixed reaction from the audience and many questions from Councilman Jeff Dring. After lengthy discussion, the council members, on a 3-1 vote, agreed that a soils study could be postponed until after submission of the final EIR.
Illegal lot splits in the area of deep residential lots has been causing many headaches for the City. City Attorney Phillips feels that most illegal splits occur because of ignorance of the law by owners and buyers. The City does not learn of the deal until it has been finalized.
