pasadena real estate blog: The Pasadena June Real Estate Market Report
- 07/16/08 05:46 AM
The Pasadena housing market continues to hobble on one leg. While this strategy seems to work well for Tiger Woods, and the manner in which he won the US Open It does not bode well if you are a property owner attempting to sell a house. June home sales continue to confirm what we have seen year to date with (1) fewer home's being sold (2) a continuing decline in the median sales price. June's median price was $700,000, compared to $790,000 last year, a decline of 11.3%. Compared to Pasadena's median home price last month of $760,000, prices declined 7.9%. June is normally … (0 comments)
pasadena real estate blog: Before You Pass Go, Check for the Pasadena Occupancy Inspection
- 06/04/08 04:39 PM
If you are buying Pasadena real estate, there is a good chance the property will be inspected by a city employee. A 6 page form will be completetd entitled “Housing Inspection Report”. Responsibility of the report and its findings can be negotiated through the purchase agreement. In other words who assumes the responsibility, the buyer or seller? The report includes the following: Building & Structural Weather Protection Fire Detection/Protection, Exits & Safety Natural Light & Ventilation Heating and Mechanical Plumbing Pool Safety, Environmental Health & Sanitation Use & Parking The back page of the report speaks to Landmark and Historic Districts … (0 comments)
pasadena real estate blog: 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 blog: Prop’s 60 & 90, A Wonderful Exemption For Certain Home Seller’s
- 06/15/07 08:09 AM
California Law allows certain owners of real property to transfer their tax basis once a principal residence is sold, to a new replacement property. There are certain exclusions, but overall this is a great benefit for those who qualify. Lets look at a hypothetical example. For instance, if you have lived in your home for 20 years you have surely acquired a fair amount of appreciation on your property. So if you purchased your home for $75,000 and it is now worth $700,000 you have done quite well. The new owner will now pay annual property taxes in the amount of … (2 comments)
The Pasadena housing market continues to hobble on one leg. While this strategy seems to work well for Tiger Woods, and the manner in which he won the US Open It does not bode well if you are a property owner attempting to sell a house. June home sales continue to confirm what we have seen year to date with (1) fewer home's being sold (2) a continuing decline in the median sales price.;)
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