Comments on: NE Pasadena’s Declining Home Values http://up2daterealestate.com/2009/02/03/ne-pasadenas-declining-home-values/ Your Home Is Our Business Fri, 18 May 2012 19:11:25 +0000 hourly 1 By: Doug Willis http://up2daterealestate.com/2009/02/03/ne-pasadenas-declining-home-values/comment-page-1/#comment-4960 Doug Willis Fri, 03 Apr 2009 12:43:57 +0000 http://www.up2daterealestate.com/2009/02/03/ne-pasadenas-declining-home-values/#comment-4960 Sandra, Find out how many units have sold or are in escrow. If you do decide to purchase your lender willl require this information as well. If it were me, I would be hesitant to be one of the first buyers in a new complex. There just doesn't appear to be a very vibrant market for condo's over $500k. The decision should be based upon how long you plan to live in the unit. The Cinema Lofts is a good example. Early buyers paid higher prices. You can make the argument that they had their pick of the units, but I think the developer was eager to sell based upon the declining market conditions. Lastly, various parts of Pasadena have been affected differently by the housing slump. I would say overall that it has held up better than some of the other cities in LA county, but also not as well as South Pasadena or La Canada Sandra,
Find out how many units have sold or are in escrow. If you do decide to purchase your lender willl require this information as well. If it were me, I would be hesitant to be one of the first buyers in a new complex. There just doesn’t appear to be a very vibrant market for condo’s over $500k. The decision should be based upon how long you plan to live in the unit. The Cinema Lofts is a good example. Early buyers paid higher prices. You can make the argument that they had their pick of the units, but I think the developer was eager to sell based upon the declining market conditions.

Lastly, various parts of Pasadena have been affected differently by the housing slump. I would say overall that it has held up better than some of the other cities in LA county, but also not as well as South Pasadena or La Canada

]]> By: Sandra http://up2daterealestate.com/2009/02/03/ne-pasadenas-declining-home-values/comment-page-1/#comment-4947 Sandra Fri, 03 Apr 2009 04:16:03 +0000 http://www.up2daterealestate.com/2009/02/03/ne-pasadenas-declining-home-values/#comment-4947 what do you think of the Lake@Walnut condos? they are asking $615K for the one I am interested in--they have come down quite a bit from the 700K they were asking and now they throw in a 10-12K incentive package---but it still seems high-- I am told Pasadena is not affected by the overall California real estate decline as much as elsewhere in California---even in LA County Advice? what do you think of the Lake@Walnut condos? they are asking
$615K for the one I am interested in–they have come down quite
a bit from the 700K they were asking and now they throw in a 10-12K
incentive package—but it still seems high–

I am told Pasadena is not affected by the overall California
real estate decline as much as elsewhere in
California—even in LA County

Advice?

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