November Sales Data for Pasadena

Sales data for Pasadena single family homes remains unbelievably strong.  In fact, sales data is showing that we are closer to the height of the market than we have ever been on this climb to recovery.  All the more reason to seriously consider selling your home if you have been waiting on the side lines for a "good time" to sell.  That "good time" is here!

We are only 10% away from the 2006 sq ft price.  With 70% LESS inventory coupled with the fact that we are currently only 2% away from 2006 median sales price, sellers are beginning to realize that the market has shifted.

Three opportunities exist right now:

1.  Move up/scale down buyer/seller - You will be VERY happy with the outcome of the sale of your home.  There is very little inventory and buyers are confident.  You will still need to prepare your home for sale, price it competitively, and market it property, but the result will be well worth it.  You will also have an opprotunity to possibly negotiate a rent back, so there will be extra time for your new home search.  And, don't forget, with the low interest rates you will have a larger buyer pool for your home, AND you will get an excellent rate for your new loan.  By the way, not finding a home seems to be the greatest worry for the move-up buyer, but rest assured, we have NEVER had a family without a home for an extended period of time.  It always works out! 

2.  First time buyer - Although inventory is tight, the interest rates can not be passed up.  We expect rates to begin going up  in 2015, and when this happens, buyer affordability will decrease, thus lowering the price point of your new home.  Even with all of the competition, finding and securing your first home can be a reality.  You just have to stay focused on your goal and never give up!

3.  Non-equity seller - For sellers with little to no equity, now is the time to sell.  As we mentioned, pricing isn't far off prices at the height of the market, so the possibility of getting out of a large and cumbersome mortgage, without bringing money to the table to do so, could be a reality.  Low interest rates and little inventory means that you will have a larger pool of buyers who want your home and willing to pay for it.  You, in the end, will benefit!

If you would like an analysis of the value of your home and the details of our 3 Steps to a Successful Sale, drop us a line.  626-818-2577 or ccohn@deasypenner.com.