by Kathy Gibson | Oct 7, 2024 | Buying, Home and Garden, Market, Neighborhood, Selling
The housing market continues to adjust to the first rate cut by the Federal Reserve in years, sliding mortgage rates, and an economy that keeps surprising to the upside. Putting all of these factors together, the California Association of Realtors (C.A.R.) released its forecast for 2025 and expects both home sales and home prices to continue their upward trend. Pasadena, CA Mon Oct 07 2024 This week the median list price for a single family home in Pasadena, CA is $1,789,000 with the market action index hovering around 45. This is less than last month’s market action index of 49. Inventory has increased to 97. Market Narrative The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on...
by Kathy Gibson | Sep 9, 2024 | Buying, Home and Garden, Market, Selling
Pasadena, CA Mon Sep 09 2024 This week the median list price for a single family home in Pasadena, CA is $1,799,000 with the market action index (MAI) hovering around 50. This is an increase over last month’s market action index of 49. Inventory has decreased to 95. In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward...
by Kathy Gibson | Sep 3, 2024 | Buying, Home and Garden, Market, Neighborhood, Selling
Photo by Freepik Flipping real estate offers a unique opportunity for adult students to fund their college education while building a profitable business. With the right preparation and a solid understanding of the market, you can turn property investments into a reliable source of income. This approach allows you to manage both your educational pursuits and entrepreneurial ambitions, making it possible to achieve financial stability and academic success simultaneously.Master the BasicsBefore you start flipping properties, familiarize yourself with the fundamentals of real estate. This involves understanding market trends, property valuation, and the renovation process. These are critical areas that will influence your ability to make profitable investments. Consider enrolling in real estate courses, attending workshops, or learning from seasoned flippers. This initial investment in education will provide the knowledge you need to navigate the complexities of the market and make informed decisions.Plan Your FinancesCreating a financial plan is crucial for any real estate venture, especially when your goal is to fund your education. Start by determining how much capital you can invest initially and how much profit you need to generate to cover educational expenses. Include a detailed budget for purchasing and renovating properties, and ensure you have a financial buffer for unexpected costs. This financial planning will help you stay on track and avoid the pitfalls of overspending or underestimating expenses.Study the MarketThorough market research is the backbone of successful house flipping. Focus on identifying areas with high growth potential, where property values are on the rise and there is a demand for housing. By understanding local market conditions, you can make more informed investment choices that maximize...
by Kathy Gibson | Aug 19, 2024 | Buying, Market, Neighborhood, Selling
The market in our area continues to be competitive, with the majority of homes selling above the asking price. Home prices are expected to continue rising, but at a slower pace compared to previous years. The likelihood that the Fed will lower interest rates soon is high, with a rate cut anticipated at the Fed’s next meeting in September. This expectation is driven by weakening job market conditions and inflation nearing the Fed’s 2% target. Pasadena, CA Mon Aug 19 2024 This week the median list price for a single family home in Pasadena, CA is $1,735,000 with the market action index (MAI) hovering around 49. This is less than last month’s market action index of 52. Inventory has increased to 106....
by Kathy Gibson | Aug 12, 2024 | Buying, Market, Neighborhood, Selling
With the conclusion of the Olympics, the focus of the market has shifted back to inflation concerns. This week will see the release of two inflation reports, which are anticipated to further confirm the trend of cooling prices. Additionally, a retail sales report is expected before the week’s end, providing more insights into the economy’s health. Mortgage rates had recently fallen to their lowest since April 2023 but have risen again in the past few days. Positive outcomes from these reports could potentially drive mortgage rates back down. Pasadena, CA Mon Aug 12 2024 This week the median list price for a single family home in Pasadena, CA is $1,660,000 with the market action index (MAI) hovering around 49. This is less than last month’s market action index of 53. Inventory has increased to 102. The market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action....
by Kathy Gibson | Aug 5, 2024 | Buying, Home and Garden, Market, Neighborhood, Selling
Image via Freepik City Lights, New Sights! Moving to a new city can be both exhilarating and daunting, especially after experiencing a low point. Embracing this change can offer a unique opportunity to reset, rebuild, and rediscover yourself. Realtor Kathy Gibson explains how to navigate this transition effectively and find a new sense of purpose and belonging. Establishing Stability Through Routine Establishing a daily routine is crucial to finding stability in a new city. Simple, consistent habits like fixed meal times and regular exercise slots can anchor your day and provide comfort. These routines offer structure and lessen the stress and upheaval of relocating. Adhering to a schedule helps ease the transition, allowing you to settle into your new environment more smoothly. Pursue Your Passions: Career and Education Relocating to a new city offers a unique chance to realign your career or launch a business, perfectly aligning with your passions. An MSN degree can catalyze your entry into diverse nursing fields such as education, informatics, administration, or advanced practice. Online degree programs provide the flexibility to maintain full-time employment while advancing your education. This strategic investment in professional development can pave the way for a more rewarding and prosperous future. Embrace the Journey of Self-Discovery Relocating unlocks a unique opportunity for self-discovery, free from familiar constraints. Immerse yourself in new activities, explore local scenes, and experiment with hobbies that pique your interest. This exploration can deepen your understanding of your values and goals. Redefining yourself in this fresh context allows you to grow on your terms. Physical Activity as a Vital Tool Incorporating regular physical activity into your life...