by Kathy Gibson | Sep 12, 2024 | Buying, Home and Garden, Market, Neighborhood
Buying a home is a monumental decision, often marked by excitement and uncertainty. Home buyers’ biggest dilemma is choosing between a starter home — a first step on the property ladder — and a forever home, where many years (if not a lifetime) will be spent. Understanding various considerations is critical to making this significant choice a little easier. Realtor Kathy Gibson shares more: Understanding Your Financial Landscape The first and perhaps most critical factor in your decision-making process is assessing your current financial situation and budget. Buying a home, whether a starter or a forever home, is a substantial financial commitment. Understanding what is fiscally feasible for you at this point in your life is vital. Consider your savings, income, debts, and other financial obligations. Remember that the cost of a home isn’t just the listing price; it includes property taxes, insurance, maintenance, and potentially homeowner association fees. Deciphering Loan Terms Another essential aspect is understanding the loan terms available for starter and forever homes. The type of loan, interest rate, duration, and down payment requirements can significantly impact your monthly expenses and long-term financial planning. Different loan products are tailored for various types of buyers and homes, so it’s essential to find the one that best suits your situation. Energy Efficiency — A Cost-Effective Future Evaluating a home’s energy efficiency is increasingly important. More up-to-date, energy-efficient homes — often found among forever homes — can lead to significant cost savings in the long run. These homes might feature better insulation, energy-efficient windows, solar panels, or newer HVAC systems to reduce your carbon footprint and lower utility bills....
by Kathy Gibson | Aug 4, 2021 | Market
Here is a Market Report for Altadena and Pasadena for the week of 8/11. Altadena This week the median list price for Altadena, CA 91001 is $1,048,000 with the market action index hovering around 77. This is less than last month’s market action index of 78. Inventory has increased to 33. The market remains in a relative stasis in terms of sales to inventory and prices have been relatively stable for a few 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, prices are likely to resume an upward climb. Click here to view a detailed report. Pasadena This week the median list price for Pasadena, CA 91101 is $1,590,000 with the market action index hovering around 18. This is about the same as last month’s market action index of 18. Inventory has held steady at or around 1. The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes. Click here to view a detailed...