Pasadena Real Estate Blog

San Francisco Chronicle
With the high inventory of homes on the market, and an average time on the market of about 50 days for an existing single-family home in California, buyers have more room to negotiate. Although sale price is a large factor during the negotiation process, many REALTORS® are advising their clients that the motto […]

Although economists cannot predict when the housing market will end its decline, many believe that there are enough indicators to determine the bottom may be near, especially in California. Home prices in many regions are declining at slower rates, and some areas have actually experienced price increases. Some analysts predict that California may be the […]

Recent economic developments indicate that California may be the first state to find the bottom, based on the increase in sales volume in the previous three months. In June, home sales rose for the third consecutive month, following a 30-month decline. Although approximately 40 percent of the transactions were foreclosure sales, the increase is allowing […]

LOS ANGELES (July 25) – Home sales increased 17.5 percent in June in California compared with the same period a year ago, while the median price of an existing home fell 37.7 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.
“Statewide home sales remained above the 400,000 level for the second month in a row, […]

http://www.latimes.com/news/printedition/front/la-fi-homes17-2008jun17,0,7677060.story
From the Los Angeles Times
The financial burden of longer commutes makes homes in outlying areas that are already reeling even less attractive.
By Roger Vincent
Los Angeles Times Staff Writer
June 17, 2008
Rising gas prices may be the latest ailment afflicting the housing market, as figures released Monday showed Southern California home prices plunging 27% in May from […]

bloomberg.com
Federal Reserve Chairman Ben Bernanke Tuesday signaled he is finished cutting interest rates for now and has turned his attention to concerns about inflation in the world’s foreign exchange markets in the wake of the U.S. dollar’s 16 percent decline against the Euro over the past year. Speaking to the International Monetary Conference, Bernanke stated […]

Bloomberg.com
Bargain hunters who bought foreclosed properties in April helped reverse a 30-month decline in homes sales and sent the median home price tumbling by 32 percent compared with a year ago, according to a report issued Tuesday by the CALIFORNIA ASSOCIATION OF REALTORS®. April 2008 home sales were 2.5 percent above the April 2007 level, […]

The Associated Press
Southern California homebuyers stepped off the sidelines in April, snatching up foreclosures and homes priced under $500,000 at a rate that was 22 percent higher than in March but down 19 percent from April 2007 and the lowest level since 1995, according to DataQuick Information Services.
Keep this in mind…
•  The median home price […]

LOS ANGELES (May 20)—The percentage of households that could afford to buy an entry-level home in California stood at 44 percent in the first quarter of 2008, compared with 26 percent for the same period a year ago, according to a report released today by the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).
First-time Buyer Housing Affordability Index […]

San Francisco Chronicle 
In the past week, jumbo conforming loans have become almost as affordable as standard conforming loans thanks to higher loan limits and a drop in bank interest rates. That’s good news for high-cost markets and homeowners with equity in their homes who may be able to refinance to a lower-cost standard conforming rate. […]