by Kathy Gibson | Mar 15, 2023 | Market, Uncategorized
Leonard Steinberg, a New York Compass agent and Chief Ambassador for our company, wrote this blog post this week and I found it so encouraging, I decided to share it with you. Here’s what he had to say: Sunday’s Oscar’s reminded us of something: sometimes – especially now – it feels as if everything is happening all at once – everywhere – to challenge us: much higher interest rates, major inventory shortages, high inflation, crypto and bank failures, a raging war in Europe, heightened global geopolitical tensions, bird flu, extreme weather, the never-ending chatter of a looming recession, acute political divisions, soaring debt, painful media bias, profiteers of outrage (and war) winning (for now)……I could go on.At times all of this can feel a bit overwhelming. It can make you feel a wee bit hopeless. Today would be my Dad’s 110th birthday, and a good time to reflect on some of his words of wisdom: As someone who immigrated to South Africa from Germany at the age of 23, as a trained actor unable to speak fluent English in the 1930’s, who lost both parents in a concentration camp and a brother to suicide on the same day he was notified of their murder, lived through the awful apartheid years, two world wars, more wars, the Great Depression, several recessions, etc, he spoke with the authority of decades of experience, having witnessed multiple personal, global and local challenges. While his grasp of the local language Afrikaans (a mix of Dutch, Flemish and German) was minimal, he would quote a local saying: “Alles Sal Reg Kom”……or translated, “Everything will be...
by Kathy Gibson | Mar 13, 2023 | Buying, Market, Neighborhood, Selling
Pasadena, CA Mon Mar 13 2023 This week the median list price for Pasadena, CA is $1,594,000 with the market action index hovering around 47. This is an increase over last month’s market action index of 45. Inventory has increased to 94. Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues. Glendale, CA Mon Mar 13 2023 This week the median list price for Glendale, CA is $1,439,500 with the market action index hovering around 55. This is an increase over last month’s market action index of 47. Inventory has decreased to 34. Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues....
by Kathy Gibson | Mar 6, 2023 | Buying, Market, Neighborhood, Open House, Selling
Pasadena, CA Mon Mar 06 2023 This week the median list price for Pasadena, CA is $1,599,000 with the market action index hovering around 47. This is an increase over last month’s market action index of 44. Inventory has increased to 95. Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues. Sierra Madre, CA 91024 Mon Mar 06 2023 This week the median list price for Sierra Madre, CA 91024 is $2,350,000 with the market action index hovering around 45. This is an increase over last month’s market action index of 39. Inventory has decreased to 9. The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing...
by Kathy Gibson | Feb 27, 2023 | Buying, Market, Neighborhood, Open House, Selling
Pasadena, CA Mon Feb 27 2023 This week the median list price for Pasadena, CA is $1,588,000 with the market action index hovering around 46. This is an increase over last month’s market action index of 44. Inventory has increased to 97. Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues. South Pasadena, CA 91030 Mon Feb 27 2023 This week the median list price for South Pasadena, CA 91030 is $1,918,500 with the market action index hovering around 50. This is about the same as last month’s market action index of 50. Inventory has held steady at or around 8. Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues....
by Kathy Gibson | Feb 23, 2023 | Buying, Home and Garden, Market, Neighborhood, Selling, Uncategorized
Did you know?* After peaking at $47.7 trillion in June 2022, the total value of US homes declined by $2.3 trillion, or 4.9%, in the second half of 2022. (Bloomberg)* Of homes purchased in January, 29% were all-cash transactions, up from 28% in December and 27% one year ago. (BARRONS)* The Federal Housing Administration will reduce the fee borrowers pay to have their mortgages insured by the agency by about $800 a year on a typical loan, or 0.3 percentage point. (Bloomberg)* In less than one month the price of lumber dropped over 27%….down over 75% off its 2021 high…….lumber is a good indicator of builder demand….. Compiled by Leonard Steinberg, Compass Manhattan Photo by Collov Home Design on...
by Kathy Gibson | Feb 6, 2023 | Buying, Market, Neighborhood, Selling
Pasadena, CA Mon Feb 06 2023 This week the median list price for Pasadena, CA is $1,394,750 with the market action index (MAI) hovering around 44. This is an increase over last month’s market action index of 43. Inventory has increased to 88. The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again. Altadena, CA 91001 Mon Feb 06 2023 This week the median list price for Altadena, CA 91001 is $1,307,500 with the market action index (MAI) hovering around 51. This is less than last month’s market action index of 54. Inventory has increased to 24. The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on...