pasadena real estate: Pasadena Home Sales Report for August
- 09/14/08 03:27 PM
The month of August has typically began the end of the summer selling season. However this August has been anything but typical. As a matter of fact, the real estate market for the last couple of years has been anything but typical. As we report the Pasadena home sales for the month of August we begin to see a couple of developments taking shape, one positive and one negative. On the positive side, unit sales for the July-August period are the highest they have been all year. Could the fact that median home prices continue to fall have something to do … (0 comments)
pasadena real estate: Pasadena California and the Future of Eco Friendly Housing
- 01/29/08 12:03 PM
The City of Pasadena California is attempting to promote itself as a green and sustainable community. This is a very desirable program to promote due to our declining natural resources and increasing demands for power and electricity. In a fitting tribute to the City of Pasadena and its green initiative, we will soon begin to witness the construction of the Pasadena Eco House. This environmentally friendly structure is designed by architect Robert Mechielsen, and his company Studio RMA. Mr Mechielsen's goal when constructing a house is to design "Carbon Neutral Living Architecture". His designs are built to LEED design standards and incorporate … (0 comments)
pasadena real estate: Rare Duplex in Pasadena's Madison Heights - For Sale
- 01/07/08 10:19 AM
Properties of this size and character are very unique and rarely become available. First time on the market in 40 years this property offers 3 beds and 1.25 baths with approximately 1700 square feet on one side and two master suites adjacent on the other side in approximately 1600 square feet. The owners side has been updated with central air and heat. The property offers updated plumbing, a newer roof, and tremendous charm and character. The other unit is occupied by tenants on a month to month lease. Thee is a detached two car garage and beautiful landscaped grounds. Offered at $1,375,000 and Open Sunday, … (1 comments)
pasadena real estate: Foreclosure Update for the Pasadena Housing Market
- 11/30/07 09:05 AM
In the current Pasadena housing market the only segment that is showing any growth has to do with the foreclosure market. Looking as far back as 1990 in Los Angeles County, foreclosure activity peaked in the third quarter of 1996 and did not begin to level off until approximately one year later. The foreclosure market hit bottom in the third quarter of 2005, but since then has been steadily increasing. When home prices are rising at 15 - 20% per year the amount of foreclosure activity is almost nonexistent as increasing equity can offset rising debt. What is Happening in Pasadena? The chart … (0 comments)
pasadena real estate: The Pasadena October Market Report
- 11/09/07 04:15 AM
The real estate news for October just seems to get worse. Not that it wasn't unexpected, considering the current market conditions and the time of year. People just are not buying houses. One of the primary decisions in the purchase of a home is how much the payment will be and the factor that determines that is the interest rate. Interest rates are very favorable these days. Lender's have been offering 6 - 6.25% with no points for the past couple of weeks on a 30 year fixed rate conforming loan. Despite the fact that interest rates are historically low, most … (0 comments)
pasadena real estate: Pasadena Housing Report for the 3rd Quarter
- 11/03/07 02:51 AM
Every month we recap the housing statistics in the Pasadena area and provide an analysis of what is happening with respect to home values and how they correspond with the overall real estate market. On a macro level, the Pasadena Housing Market appears to be holding up pretty well compared to other parts of California. Each month the median price of a Single Family Residence continues to increase and the number of units that are sold continue to decrease. Sales for the third quarter continue to support this rationale: However, if we begin to break it down by sales price and by geographical … (1 comments)
pasadena real estate: "My Wife Hates Real Estate Agents"
- 10/12/07 11:12 AM
How's that for a greeting? Nice to see you as well. I met with a couple the other day and was greeted outside by the husband. He immediately informed me that his wife had a tremendous dislike for real estate agents. Actually that is not news. Right or wrong, just or unjust, most people have an immediate opinion of people in the real estate profession. We're in good company though. Right up there with telephone solicitors, used car salesmen and lawyers. I don't understand how lawyers made it into this elite field. Maybe I was being placed on notice, or I was in for … (5 comments)
pasadena real estate: And You Thought Low Interest Rates Led the Housing Boom
- 09/16/07 02:41 AM
Today's Wall Street Journal has a preview of the new book by Alan Greenspan, entitled "The Age of Turbulence: Adventures in a New World". In the book he speaks of several things including criticizing the current administration on its economic policy. Forget that, what I found interesting was his analysis of what has fueled the housing market over the last several years. I thought it was low interest rates, greedy lenders, unqualified borrowers, easy money and a mentality that the market would continue to increase. Turns out, according to Mr. Greenspan, it was the end of communism. The end of communism "unleashed … (4 comments)
pasadena real estate: Pasadena "Notice of Defaults" on the Rise
- 09/15/07 12:44 PM
We all have been hearing of how foreclosures, Notice's of Default and Short Pays are on the rise and having a negative impact on the real estate market. But how is this affecting us locally, or more specifically, the Pasadena Housing Market? The above graphic only looks at Notice's of Defaults that have been filed. It does not necessarily mean that a house is going into foreclosure, only that the homeowner is delinquent in their payments. Considering the overall number of homes in Pasadena, the number is relatively small, considering the month to month number of defaults filed compared to homes sold, … (0 comments)
pasadena real estate: Pasadena Townhomes & Condominiums Maintain Momentum
- 08/09/07 06:08 AM
July was a strange month for Pasadena real estate. The reason....Sales of townhomes and condominiums outpaced sales of single family homes. Rarely does this occur. The market for townhomes and condominiums continues to prosper as new construction offers Buyers either the amenities or lifestyle they cannot find in a comparably priced home. The median price of a townhome/condo was $575,000 compared to $850,000 for a single family. As recently reported, there is a weakness in the market for single family homes priced below $625,000, however this market represents 70% of all the condo/townhomes sold in Pasadena for the month of July. In other … (1 comments)
pasadena real estate: Pasadena Housing Market Reflects Industry's Woes
- 08/07/07 03:54 PM
The Pasadena Housing Market appears to be confused. The sales numbers for July reflect volume typically seen in January and February, not what you would expect for the height of what is supposed to be the home selling season. Unit sales of Single Family Homes were off almost 50% compared to last July. The median price shows an increase over last year, which I feel is attributable to what is taking place in the market. The housing market for homes priced $700,000 and above is strong and Pasadena real estate is no exception. The weakness as we have seen in the past … (1 comments)
pasadena real estate: New Construction Powers Pasadena Condo Market
- 07/12/07 08:41 AM
The Pasadena Condo Market seems to be ignoring all the publicity about the slowing housing market. Unit sales were up 20% and the median price increased to $575,000 compared to $470,00 last year. If you have had the opportunity to drive through town, you have seen some new construction going on and chances are it may be new housing additions. There are several new complexes for sale on Green St, Chester Avenue and Union St., with prices starting in the mid $500's and up into the mid $800's. There seems to be a trend towards more luxurious and more expensive units. Despite the … (0 comments)
pasadena real estate: Neighborhood Focus: "Upper Hastings", Pasadena's Upper East Side
- 06/27/07 10:49 AM
You have probably heard the phrase "I live on the upper east side"? I bet you did not know that it referred to Upper Hastiings Ranch, which is Pasadena's northeasterly neighborhood. Most of the homes in this area were constructed between 1950 to 1955 and just like its neighbor to the south Lower Hastings, most of the architectural styles exhibited are California ranch, dominated by 3 bed / 2 bath homes with front or side entry garages. The area offers hilly terrain and close up views of the San Gabriel Valley Mountians. Prices for single family homes in Upper Hastings are fairly … (0 comments)
pasadena real estate: Neighborhood Focus: Lower Hastings Ranch, Pasadena
- 06/19/07 09:24 AM
If you have been looking for homes throughout Pasadena and have decided that a hundred year old home is not for you, then welcome to Lower Hastings Ranch. Any frustration you have experienced with the Pasadena housing market, just might end here. Most of the homes in this area were constructed between 1949 and 1953, considered new by Pasadena standards. Architectural styles are typically California Ranch (do you think this may have had something to do with the name Hasatings Ranch?) and single level. The neighborhood is dominated by single family homes, however there is one small townhome complex with approximately … (0 comments)
pasadena real estate: How Much Should You Pay to Sell Your Home?
- 06/14/07 04:08 AM
According to the Real Estate Publication Real Trends the amount of money you pay to sell your home is on the rise. Due to the slowing market, real estate agents claim they have to market homes more aggressively in order to get them sold. A quick read between the lines interprets this to mean they have to spend more of their own money. What should you expect to pay when you list your home for sale? A quick recap of the 115 homes sold in Pasadena for the month of May indicates that Buyers Agents (an agent who represented the Buyer in … (3 comments)
pasadena real estate: Pasadena Real Estate.....A mixed bag
- 05/03/07 09:44 AM
Sales results for the month of April indicate that residential units were down about 23% vs. April 2006. There were 99 units sold for April 2007 compared to 128 units sold for the same period last year.However, a closer look at sales by area indicates that Pasadena Real Estate is still doing quite well. Pasadena is broken down into four geographical area's as follows:Of the four areas, the "Southeast" seems to be doing the best with sales up 10% over last year. Two other regions, the "Northeast and Southwest" are showing smaller declines. The area bearing the brunt of a slow … (3 comments)
pasadena real estate: Attention Home Sellers, Its Not August 2005 Anymore
- 04/24/07 05:43 AM
Which phrase have you heard? (1) My agent was awesome. My house sold in the first week or (2) My agent did a terrible job, my house was listed for 90 days and did not sell. Chances are you have probably heard both. I think real estate agents have always been quick to pat themselves on the back and take credit for something they had absolutely nothing to do with. On the flip side, the finger is aimed directly at them when a house does not sell. What's the difference between the two? Why are some successful and some fail? First, let's look … (1 comments)
The month of August has typically began the end of the summer selling season. However this August has been anything but typical. As a matter of fact, the real estate market for the last couple of years has been anything but typical. As we report the Pasadena home sales for the month of August we begin to see a couple of developments taking shape, one positive and one negative.;)
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