by Kathy Gibson | Aug 7, 2023 | Buying, Market, Neighborhood, Open House, Selling
Pasadena, CA Mon Aug 07 2023 This week the median list price for a single family home in Pasadena, CA is $1,596,500 with the market action index hovering around 53. This is an increase over last month’s market action index of 52. Inventory has increased to 88. 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 market action index. If the market heats up, prices are likely to resume an upward climb. South Pasadena, CA 91030 Mon Aug 07 2023 This week the median list price for a single family home in South Pasadena, CA 91030 is $1,895,000 with the market action index hovering around 46. This is about the same as last month’s market action index of 46. Inventory has decreased to 14. 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...
by Kathy Gibson | Jul 24, 2023 | Buying, Home and Garden, Market, Neighborhood, Selling
Pasadena, CA Mon Jul 24 2023 This week the median list price for a single family home in Pasadena, CA is $1,699,999 with the market action index hovering around 54. This is about the same as last month’s market action index of 54. Inventory has decreased to 81. 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. Altadena, CA Mon Jul 24 2023 This week the median list price for a single family home in Altadena, CA is $1,349,000 with the market action index hovering around 58. This is an increase over last month’s market action index of 55. Inventory has decreased to 32. The market has achieved a relative stasis point in terms of supply and demand – conditions don’t seem to be getting hotter or cooler. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as a result....
by Kathy Gibson | Jun 26, 2023 | Uncategorized
Pasadena, CA Mon Jun 26 2023 This week the median list price for a single family home in Pasadena, CA is $1,499,991 with the market action index hovering around 52. This is an increase over last month’s market action index of 50. Inventory has increased to 91. 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 market action index. If the market heats up, prices are likely to resume an upward climb. Altadena, CA Mon Jun 26 2023 This week the median list price for a single family home in Altadena, CA is $1,249,000 with the market action index hovering around 58. This is about the same as last month’s market action index of 58. Inventory has increased to 35. Market appears to have begun to cool. As we’re still notably in a Seller’s market, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s...
by Kathy Gibson | May 30, 2023 | Buying, Market, Open House, Selling
Op-Ed written by Ron Wynn, Compass So Cal agent In the fast-paced and ever-changing world we live in, it’s easy to become complacent and comfortable with what we have. This is particularly true when it comes to our financial decisions, especially when it involves something as significant as an interest rate. Many individuals find themselves holding onto low-interest rates for dear life, afraid to let go and explore new opportunities. But what if this mindset is holding us back from truly living a full and exciting life? In this article, we will delve into the concept of being a prisoner to your interest rate and challenge you to reevaluate your priorities. The Rent-Controlled Apartment Dilemma: Let’s start by examining the example of individuals who have lived in rent-controlled apartments in New York for several decades. While it may seem like an advantageous situation on the surface, there’s a deeper question to consider: Have they missed out on other experiences and opportunities by holding onto their rent-controlled status? While their friends and peers moved around, exploring different neighborhoods, raising families, and building equity through real estate investments, those clinging to their rent-controlled apartments may have limited themselves in terms of personal growth and financial gains. The 3% Interest Rate Trap: Similarly, many individuals today find themselves trapped by low-interest rates on their mortgages or other loans. While a 3% interest rate is indeed attractive and worth preserving, it’s essential to recognize the potential trade-offs. By fixating solely on keeping that low rate, individuals may miss out on life-changing opportunities, such as pursuing new career paths, starting their own businesses, or...
by Kathy Gibson | May 22, 2023 | Buying, Home and Garden, Market, Neighborhood, Open House, Selling, Uncategorized
Home purchase sentiment improves as consumers’ optimism on mortgage rates amend: The Fannie Mae Home Purchase Sentiment Index® (HPSI) increased in April to its highest level since May 2022, jumping 5.5 points to 66.8. All six of the HPSI’s components increased month over month, including the one associated with consumers’ expectations on mortgage rates. While almost half of respondents still expected mortgages rates to rise over the next year, nearly a quarter (22%) of them expect mortgage rates to go down. Pasadena, CA Mon May 22 2023 This week the median list price for a single family home in Pasadena, CA is $1,599,000 with the market action index hovering around 50. This is less than last month’s market action index of 51. Inventory has increased to 87. The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence. Altadena, CA 91001 Mon May 22 2023 This week the median list price for a single family home in Altadena, CA 91001 is $1,356,000 with the market action index hovering around 60. This is an increase over last month’s market action index of 56. Inventory has increased to 30. 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....