I asked Irina Netchaev, (your Pasadena, CA Real Estate Agent) to give us a Market Update. Here's what she had to report:
Question: by Ricardo Bueno
ANSWER: by Irina Netchaev
Great question - the real estate market just came out of its cyclical annual slow period - fall and winter months. Every year, we see a slow down as kids go back to schools and families are enjoying Thanksgiving, Christmas and New Year holidays.
As spring comes upon us, the market starts blooming just like the flowers in my garden. There are more homes on the market, but also more buyers.
The real estate market is definitely stabilizing. We are not seeing tremendous increases of 20 to 25% a year, but are tracking an average of 5 to 7% depending on the area. When you add these "modest" increases on top of the already high home prices, the sellers are experiencing a nice growth rate.
San Marino and South Pasadena are doing great since a lot of families are looking to buy into their award winning school district. Bungalow Heaven, Historic Highlands, Madison Heights and South Lake District of Pasadena are also "flowering".
It seems like homes in the range of $800,000 to $1.2 million are selling better than homes in the $500,000 to $700,000 range.
Buyers are not going through as many multiple offer situations which makes it a little easier on them. TAlthough, we are still seeing multiple offers in some areas. They also have a little bit more inventory to choose from.
It's a WIN WIN for all.
Overall, we're in for another great summer!
For information about Pasadena, please visit the following links:
Pasadena Real Estate Guide and FREE Multiple Listing Search
Everything you ever wanted to know about Pasadena and more!
Looking for condos near Pasadena? How about Monterey Hills?
Other interesting information:
Thinking of Selling Your Home - What should your Agent be doing?
Heard the Buzz about Staing? What is it?
--
Ricardo Bueno - Your Residential & Commercial Investment Advisor
Ricardo Bueno is a Loan Officer & Team Leader with Wilshire Financial, Inc. A diversified mortgage brokerage located in Pasadena, CA.
Question: by Ricardo Bueno
How do you see the market performing?
ANSWER: by Irina Netchaev
Great question - the real estate market just came out of its cyclical annual slow period - fall and winter months. Every year, we see a slow down as kids go back to schools and families are enjoying Thanksgiving, Christmas and New Year holidays.
As spring comes upon us, the market starts blooming just like the flowers in my garden. There are more homes on the market, but also more buyers.
The real estate market is definitely stabilizing. We are not seeing tremendous increases of 20 to 25% a year, but are tracking an average of 5 to 7% depending on the area. When you add these "modest" increases on top of the already high home prices, the sellers are experiencing a nice growth rate.
San Marino and South Pasadena are doing great since a lot of families are looking to buy into their award winning school district. Bungalow Heaven, Historic Highlands, Madison Heights and South Lake District of Pasadena are also "flowering".
It seems like homes in the range of $800,000 to $1.2 million are selling better than homes in the $500,000 to $700,000 range.
Buyers are not going through as many multiple offer situations which makes it a little easier on them. TAlthough, we are still seeing multiple offers in some areas. They also have a little bit more inventory to choose from.
It's a WIN WIN for all.
Overall, we're in for another great summer!
For information about Pasadena, please visit the following links:
Pasadena Real Estate Guide and FREE Multiple Listing Search
Everything you ever wanted to know about Pasadena and more!
Looking for condos near Pasadena? How about Monterey Hills?
Other interesting information:
Thinking of Selling Your Home - What should your Agent be doing?
Heard the Buzz about Staing? What is it?
--
Ricardo Bueno - Your Residential & Commercial Investment Advisor
Ricardo Bueno is a Loan Officer & Team Leader with Wilshire Financial, Inc. A diversified mortgage brokerage located in Pasadena, CA.
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