Comments on: Pasadena, We’re One Month Closer http://up2daterealestate.com/2008/08/01/pasadena-were-one-month-closer/ Your Home Is Our Business Fri, 18 May 2012 19:11:25 +0000 hourly 1 By: Doug http://up2daterealestate.com/2008/08/01/pasadena-were-one-month-closer/comment-page-1/#comment-986 Doug Fri, 08 Aug 2008 04:38:41 +0000 http://www.up2daterealestate.com/2008/08/01/pasadena-were-one-month-closer/#comment-986 Mike, Thanks for the comments. It's nice to have someone comment who is in the industry. I agree with you. The market will be slow to turnaround. As a matter of fact, my last post speaks directly to this issue. http://up2daterealestate.com/2008/08/07/pasadena-median-home-price-history/ Mike,

Thanks for the comments. It’s nice to have someone comment who is in the industry. I agree with you. The market will be slow to turnaround.

As a matter of fact, my last post speaks directly to this issue.

http://up2daterealestate.com/2008/08/07/pasadena-median-home-price-history/

]]> By: Mike B http://up2daterealestate.com/2008/08/01/pasadena-were-one-month-closer/comment-page-1/#comment-983 Mike B Fri, 08 Aug 2008 00:04:08 +0000 http://www.up2daterealestate.com/2008/08/01/pasadena-were-one-month-closer/#comment-983 Pasadena appraiser here...No we are not about to turn around. Lending programs and products that were readily available less than a year ago are no longer available; The result is higher interest rates and higher qualification standards; these conditions result in less loans being made. Fewer loans available reduces the amount of purchase-ready buyers and increases the amount of competition among the sellers for those fewer buyers. When sellers are competing for buyers, they do so by lowering prices. Add the REO's and Short Pays and we have one strange brew. Its not going to reverse anytime soon. Pasadena appraiser here…No we are not about to turn around. Lending programs and products that were readily available less than a year ago are no longer available; The result is higher interest rates and higher qualification standards; these conditions result in less loans being made. Fewer loans available reduces the amount of purchase-ready buyers and increases the amount of competition among the sellers for those fewer buyers. When sellers are competing for buyers, they do so by lowering prices. Add the REO’s and Short Pays and we have one strange brew. Its not going to reverse anytime soon.

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