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Let Me Talk To My Manager, I Think We Can Get You Into A House Today

December 5, 2007 By 1 Comment
adjustable rate

It is becoming apparent that we will soon know what the government's response will be to the growing real estate mortgage crisis. In this upcoming election year, nobody wants to appear insensitive to homeowners possibly losing their homes, so many knee jerk reactions are being formulated. How will a plan of this magnitude even become close to being fair? As you can see from the chart below, many adjustable rate mortgages are about to reset and foreclosures are expected to increase as … [Read more...]

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Pasadena Housing Market Foreclosure Update

November 26, 2007 By 1 Comment
up2daterealestate preforeclosure

In the current housing market the only segment that is showing any growth has to do with the foreclosure market. Looking as far back as 1990 in Los Angeles County, foreclosure activity peaked in the third quarter of 1996 and did not begin to level off until approximately one year later. The foreclosure market hit bottom in the third quarter of 2005, but since then has been steadily increasing. When home prices are rising at 15 - 20% per year the amount of foreclosure activity is almost … [Read more...]

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What Does Starbucks Have In Common With The Housing Market?

November 19, 2007 By 2 Comments
starbucks.jpg

Whatever is good for General Motors Starbucks, is good for the US economy. I cannot think of any US companies that have been able to build a brand that has become so ubiquitous. And in the manner in which they have done it. Think about it. When was the last time you saw a Starbucks ad or flier in the newspaper offering a discounted price on a cup of coffee to get you into the store? What if Target or Best Buy could generate increased store traffic week after week without those fancy … [Read more...]

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Pasadena Home Values Near 2005 Levels?

November 15, 2007 By Leave a Comment
up2date real estate blog median price

The Los Angles Times reported today that home levels are near their April 2005 levels. Just for kicks we went back in time to April 2005 when there were approximately 180 recorded residential sales made up of single family, condos and townhomes. I found that the median price was $598,000. Then I looked at where the median price for Pasadena was in October 2007. Again, I merged the data using single family, condos and townhomes. The median price was $655,000, with 54 units sold. Not quite near … [Read more...]

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