by Kathy Gibson | May 13, 2024 | Buying, Market, Neighborhood, Open House, Selling
The Federal Reserve kept the fed funds rate unchanged at their last meeting, pointing to a robust economy and stagnant inflation. However, a disappointing 175k job additions hint at a cooling labor market. With the Fed signaling rate hike unlikelihood and weaker jobs data, mortgage rates fell to early April lows, raising hopes for declining rates in H2 2024. Pasadena, CA Mon May 13 2024 This week the median list price for a single family home in Pasadena, CA is $1,982,000 with the market action index hovering around 57. This is an increase over last month’s market action index of 54. Inventory has increased to 78. The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend....
by Kathy Gibson | May 6, 2024 | Buying, Home and Garden, Market, Selling
Looking to buy or sell a home in Pasadena? Connect with agent Kathy Gibson to find detailed listings and get expert real estate advice to help you make the right decision. Evaluating Whether to Rent or Sell Your Flipped Home: A Strategic Guide Photo by Freepik When you flip a home, the final step involves deciding whether to sell or rent it. This decision can significantly impact your financial outcomes and personal flexibility. Both options carry unique benefits and responsibilities, which you should carefully weigh against your long-term objectives and current financial situation. Analyze Potential for Future Profit Once you’ve renovated and are ready to move on from your flipped property, selling it outright might seem like the quickest way to profit. By selling now, you capture current market value, which can be substantial depending on your improvements and market trends. However, holding onto the property could potentially yield greater returns as market values increase. This longer-term perspective requires balancing the immediate payoff with potential future appreciation, a gamble that could either secure or lose additional profit depending on how real estate markets evolve. Weigh Personal Use and Family Considerations Renting out your flipped home could be more than a financial decision — it might also reflect personal or family planning. This option allows you to retain ownership of the property, providing a future personal residence or a valuable asset to pass on to your children. The flexibility of reclaiming the property if your circumstances change is a significant advantage, offering both a safety net and an investment opportunity. The Role of a Landlord Deciding to rent out your...
by Kathy Gibson | May 6, 2024 | Buying, Home and Garden, Market, Neighborhood, Selling
Pasadena, CA Mon May 06 2024 This week the median list price for a single family home in Pasadena, CA is $2,188,000 with the market action index hovering around 57. This is an increase over last month’s market action index of 53. Inventory has increased to 73. The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current...