by Kathy Gibson | May 8, 2023 | Buying, Market, Neighborhood, Open House, Selling, Uncategorized
Pasadena, CA Mon May 08 2023 This week the median list price for Pasadena, CA is $1,649,000 with the market action index hovering around 51. This is an increase over last month’s market action index of 49. Inventory has decreased to 77. 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. Altadena, CA Mon May 08 2023 This week the median list price for Altadena, CA is $1,199,000 with the market action index hovering around 58. This is an increase over last month’s market action index of 55. Inventory has increased to 29. 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...
by Kathy Gibson | Mar 21, 2023 | Uncategorized
Pasadena, CA Tue Mar 21 2023This week the median list price for Pasadena, CA is $1,702,900 with the market action index hovering around 45. This is less than last month’s market action index of 46. Inventory has held steady at or around 94. The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several weeks. 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 persistently, prices are likely to resume an upward climb. Altadena, CA 91001 Tue Mar 21 2023This week the median list price for Altadena, CA 91001 is $1,180,000 with the market action index hovering around 51. This is an increase over last month’s market action index of 49. Inventory has decreased to 25. While the Market Action Index (MAI) shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the...
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 | 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 2, 2023 | Buying, Market, Selling, Uncategorized
Five Considerations….About 10,000 Americans retire every day. Many own their (too large for their needs) home and were planning to downsize or move, but feel they should wait now that real estate markets have dipped off highs that surged between 2020 and 2022 in many areas: Why should they sell now? Here are some reasons why selling now might make sense:1. Liquidating a home now when all markets are down – including equity markets – allows you to buy replacement investments at lower prices with a stronger potential upside….including equities.2. Liquidating a home now allows you to earn more for your cash deposits that now produce much higher returns. Even a basic savings account delivers over 3%.3. Holding on to a large expensive home has carrying costs: insurance, maintenance, repairs, electricity, gas, mortgage payments, real estate tax payments. If markets recover in the next 2 years to where they were, will those gains outstrip the costs to carry this home?4. The lower the sale price, the lower your capital gains taxes too. Many who have owned their homes for many years may have large capital gains taxes beyond the $250k or $500k exemptions.5. In a down housing market with higher interest rates, job losses and a recession looming, first time home buyers are often more disadvantaged: the smaller homes that also appeal to retirees may be more affordable and attainable now than later when – not if – the economy bounces back with lowered interest...
by Kathy Gibson | Aug 13, 2022 | Uncategorized
The plan is starting to come together! Last week a concrete truck pulled up and before I knew it, the crew had leveled the concrete smooth and left it to dry. I’ve been dreaming about all of the things I’m going to be making. Maybe because I’ve been watching this guy with a YouTube channel called The Wood Fired Oven Chef right before I go to sleep (his voice is so calm but at times can be overly-dramatic). Although I’m super excited to make pizza, there are so many non-pizza dishes I can’t wait to try! What’s your favorite non-pizza dish to make in a pizza oven?...