It had appeared the momentum in the Pasadena real estate market had been building. Sales were increasing, buyer's were becoming increasingly optimistic, and sales were beginning to move away from just the lower end of the market. The number of homes in escrow was increasing and stories were developing of multiple offers and quick sales. And we are not just referring to distressed properties. There is really no other term to describe the month of June than just an old fashioned "blow … [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 Housing Market Comes Roaring Back
April 16, 2009 By 10 Comments
The Pasadena real estate market received a shot of adrenaline in March. For a patient that had been on life support for the last year and a half, the surgical team came in with a prognosis of "cautiously optimistic". The medication came in the form of lower mortgage rates and an $8000 tax credit for first time home buyer's. The increase from February to March was one of the biggest we have seen in 5 years. Prices always fall, even ever so slightly for this time period. But not this year. They … [Read more...]
Pasadena Real Estate Market Feels January Slump
February 17, 2009 By 2 Comments
The optimism that precedes a new year was short lived at least where Pasadena real estate is concerned. Let's face it, when it comes to real estate activity, January is, well January. This time of year is supposed to be unexciting and uneventful. From that standpoint the month certainly lived up to its expectations. I am beginning to read some articles about other real estate markets across the country, showing some signs of life. In fact a Seattle Broker created quite a stir last week when … [Read more...]
Are Pasadena Home Prices About to Bottom?
December 16, 2008 By 3 Comments
Do any similarities exist between the real estate and stock markets? In stock market jargon it is referred to as testing the bottom or testing the lows. If prices hover around the previous lows without establishing a new benchmark it can be recognized as a positive sign. It may be perceived that price stabilization will occur and that the free fall is over, at least for a while. Maybe it's just a psychological barrier more than a realistic barometer of market indicators, but sometimes all … [Read more...]
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