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 Home Sales up2date Review
October 10, 2008 By 1 Comment
I have prepared my elevator speech for the Pasadena housing market...."consistent". There you have it, nothing fancy, and nothing dramatic, just a quick conveyance of an idea that succinctly sums up Pasadena home sales for the month of September. Consistent was derived by looking at the median price decline for the month, which just happens to be the same decline as we had in August. Again, rather than insert a matrix of numbers and try to explain each segment of our real estate market you … [Read more...]
Upcoming Pasadena Home Sales, A False Positive?
July 24, 2008 By 2 Comments
Pasadena home sales for the month of July are still about 3-4 weeks away from being released on a national level. Expect a reversal in the continuing bad news that has plagued the housing market for the last year. Why the change? Is it from the expected passage of the Housing Bill making its way through Congress? Have the number of foreclosed homes finally reached their peak and now are beginning to level off? Have home buyer's come to recognize that the bottom is soon approaching and pent up … [Read more...]
Pasadena CA Homes for Sale & Interest_ing Rates
June 24, 2008 By 1 Comment
When you hear the word "sensitive" the Pasadena real estate market is probably not the first thing that springs to mind. That being said, we are probably in the midst of the most sensitive housing market in years. Volatility will continue to reign, until time has a chance to cure the current ills. If you are looking to buy a property, there is no more important factor than your interest rate. It can make or break your deal. A slight change can end up costing you hundreds if not thousands of … [Read more...]
Pasadena California Residential Real Estate, 1st Quarter Recap
April 17, 2008 By 2 Comments
Earlier this week we reported on the Pasadena real estate market and the sales numbers for March. Two things are quite obvious; unit sales are off by about 50% across the board. This seems to be true in LA County as well as California. And secondly, inventory levels of homes listed for sale are at the highest point we have probably seen in the last 10 years. Since the Pasadena area covers such a wide geography and demographic area and because all real estate is local, I decided to break … [Read more...]
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