A few years ago, the Pasadena real estate market offered something for everyone. It did not matter if you classified yourself as an investor, a speculator or just a homeowner, the opportunity was there to buy real estate with Monopoly money. The late night TV infomercials refer to it as OPM or "other people's money". Create wealth, build your portfolio and retire rich, just don't use any of your own cash. Generally speaking, if money is readilly available the chance of abuse will likely … [Read more...]
Pasadena Median Home Price History
August 7, 2008 By 4 Comments
There has been much speculation on where the Pasadena California real estate market and home prices are headed. And also, to what extent have values declined? The median price has dropped, but to what degree have Pasadena property owners experienced a loss? Symptomatic of falling home prices are a couple of things:Supply far exceeding demand resulting in fewer homes being sold, requiring sellers to become more aggressive with pricingThe re-emergence of the under $400,000 market Both charts … [Read more...]
Pasadena Residential Property Sales Report for June
July 15, 2008 By 1 Comment
The Pasadena housing market continues to limp along on one leg. While this strategy seems to work well for Tiger Woods, it does not bode well if you are a property owner with a house to sell. Sales results for the month of June continue to confirm what we have seen year to date with (1) fewer home sales and (2) decline in the median sales price. The June median price was $700,000, compared to $790,000 last year, a decline of 11.3%. Compared to Pasadena's median price last month of $760,000, … [Read more...]
Pasadena Real Estate, May Sales Report
June 11, 2008 By 1 Comment
May was an exciting month with the Phoenix Mars Lander arriving on the Red Planet. Its goal is to look for signs of life. Was there water on Mars? If the Mars Lander somehow became misguided and landed in the San Gabriel Valley, would it find signs of life in the Pasadena Real Estate market? There does appear to be some activity as the positive signs indicate increasing unit sales in single family homes. Monthly increases this year are much smaller than in years past, but they are slowly on … [Read more...]
Pricing Your Home to Sell, an Artful Science
June 9, 2008 By Leave a Comment
Pricing your Pasadena home correctly is the critical first step to a successful transaction. Last week I provided solid evidence in a post regarding the Pasadena Real Estate Secret, that if you price your home properly you will (1) sell it in much less time and (2) maximize the value, by selling it for more money, plus reducing your ongoing out of pocket expenses. Pricing a property correctly can cause much consternation between salespeople and homeowners. Most homeowners who are considering … [Read more...]
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