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Archive for October, 2008

Check out Los Angeles Times’ Haunted House Makeovers photo gallery for ideas on how to trick your home out for Halloween.

From Pasadena Now!:
If you’re still looking for a Halloweeny event to take the kids to, check out One Colorado, in Old Town Pasadena.  Young ghosts, witches & other creepy critters are invited to go store-to-store for [...]

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From Business Week, posted by Chris Palmeri on October 22:
“California home sales are soaring. What? Aren’t we in the middle of a credit crunch and mortgage industry meltdown?
Bargain shoppers are snapping up distressed property, according to real estate researcher DataQuick. In Northern California sales were up 40% in September, the largest jump in six years. [...]

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This depends, of course, on area, size, and condition of the particular home.  I have heard that the average home price in pasadena has rolled back to between 2004 and 2005 prices.
Here is a case study on a really nice home in a really desirable neighborhood:
360 S. Greenwood, Pasadena 91107
(in the Caltech neighborhood)
            
This [...]

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Due to stricter loan underwriting standards and increased difficulty for some borrowers to qualify for a loan, even for those who are well-qualified, more sellers are offering financing to potential home buyers, which some believe can be mutually beneficial to both buyers and sellers, and can give sellers a competitive edge.
To read the full story, [...]

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California Association of Realtors Economists Forecast Number of Homes Selling in 2009 to Increase, Prices to Decrease.
The number of home sales this year has already increased significantly over the 2007 low point, but economists at the California Association of Realtors do not forsee price increases for quite a while — until the glut of foreclosed [...]

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An article in The Australian states that U.S. real estate is in “bargain territory” and now could be the time to “snap up a holiday or investment property.”
If people overseas are thinking we have hit bottom and that bargains are to be had, how does that make you feel?  Personally I think that with the combination [...]

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The Effect of Global Banking Changes on Homeowners
Central Banks Coordinate Global Cut in Interest Rates
Hoping to thaw the current credit freeze, the Federal Reserve, the European Central Bank, the Bank of England, and the central banks of Canada and Sweden reduced their primary lending rates by a half percentage point Wednesday.  The Chinese central bank [...]

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Not in the MLS!  This home is not my listing, but it is so special that I had to get the word out.  I can’t publish the address, so please call me if you would like to see it.
Home: 4,476 square feet
Lot: 12,898 square feet
Location: prime Southwest Pasadena location with prestigious street address
Price: $3,580,000
A sophisticated [...]

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We have just finished running the numbers for the third quarter update to my Pasadena area real estate report.  This is unique, original research not available anywhere else.  I take each Pasadena zip code (as well as surrounding areas such as San Marino, South Pasadena, Altadena, Sierra Madre and more) and compare last quarter’s average [...]

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