I don't think there should be any doubt left in the minds of local residents, the seasonal home selling season has returned. Little did we know or realize that it was going to be 3 years to the day when the market started to fall, or that it would correct itself 36 months later. It was July 2006 when real estate markets began to soften. A gradual decline eventually turned into a market free fall. However, all of that appears to be behind us as we head into the back half of 2009. The good news … [Read more...]
Pasadena Home Sales Increase in May
June 14, 2009 By 1 Comment
Unit sales along with the median price make positive gains in May, continuing an upward trend in 2009. Predictability, which was absent in the Pasadena real estate market during the last two years appears to be making a return. Predictable that is, when the seasonal home buying months once again become the months of May thru August. The median price of a Pasadena home exceeded $500,000 for the first time since November 2008. The housing market which has exhibited some positive trends … [Read more...]
Pasadena CA Real Estate – up2date Market Report for February
March 11, 2009 By 4 Comments
What if you walked into the department store and found everything on sale, only to find you not in the mood to buy anything. Now apply that to the Pasadena housing market. Many properties for sale have reduced their price at least once, in effect putting themselves on sale. What happens if no one buys? Maybe after awhile it's marked down again until finally someone buys it or it's taken off of the market. This is the dilemma many home sellers find them self in. The federal government has … [Read more...]
Pasadena Home Sales in December, Not So Joyous
January 14, 2009 By 1 Comment
Retail sales for the month of December were released today. Year on year sales indicated a decline of 9.8%. A 10% decline in the price of Pasadena homes would be welcome news. Actually a 15% decline would be nice to see. Isn't December supposed to be the most wonderful time of the year? Other than sharing a name and a freeway, the Cities Pasadena are the antithesis of each other at least in terms of home prices. The South Pasadena real estate market can sell fewer homes and maintain an … [Read more...]
Pasadena Real Estate Report on November Home Sales
December 13, 2008 By 1 Comment
It was said many years ago people could look at the position of the sun and tell the time of day. Pasadena real estate is no different. Just look at the poor performance of home sales and it must be November. Traditional sales of Pasadena homes in the past have resembled more of a bell curve, low on both the right and left ends, (January & December) but higher in the middle (May - August), indicating a seasonality to home sales. But then again we haven't seen traditional for about two … [Read more...]
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