In Los Angeles, 49 units are taking 17 years to build, facing nearly every hurdle that state laws allow. A Los Angeles nonprofit was given government land in January 2007 to build a few dozen units of affordable housing. They’re finally hoping to open the building next year. Lorena Plaza, a 49-unit development rising in the […]
Here is a new feature, showing Pasadena condo and home sales by period. This first post shows activity through December of 2017. We have separated home sales activity from condos. Homes The highest median price and the average price per square foot for homes were in July of 2017. The median sale price that month was […]
While there was some volatility, it was relatively quiet last week for mortgage rates. The major economic data was mixed. In a nice break from the recent upward trend, mortgage rates ended last week with little change. Housing Starts: The latest report on housing starts was encouraging. In January, single-family housing starts rose 4% from December. They […]
The key points for a seller, according to Zillow.com: A full price or higher offer A pre-approved buyer Smooth timing for a move Sellers may also want buyers to either waive an inspection or be responsible for any repairs. Before negotiations, the best idea for sellers is to carefully calculate what they need from a […]
Sales Flat in February, Median Price Falls 2.3 Percent Cash Sales 25.3 Percent of Total Sales, Highest Since March 2014 Cash Buyers Still Plentiful Despite High Prices California single-family home and condominium sales were 24,409 in February 2016, nearly unchanged from a revised 24,273 in January 2016. Sales volumes are typically low […]
Here’s the September Property Radar California Real Estate Report: Seasonal forces pushed California single-family home and condominium sales down 4.3 percent to 35,629 in September from a revised 37,227 in August but were up 5.8 percent from 33,674 in September 2014. Driving the increase in year-over-year sales was the 9.4 percent increase in non-distressed property […]
California single-family home and condominium sales fell 13.1 percent to 36,733 in August from 42,261 in July but were up 3.1 percent from 35,613 in August 2014. Driving the increase in year-over-year sales was the 6.4 percent increase in non-distressed property sales. “While we had a couple of strong months this year, August sales are […]
Despite many promising factors leading into 2015, home sales in January fell sharply from December, a modest dip from a year earlier and the 14th month in the last 16 to post year-over-year declines. While a decline in sales is typical during the winter months, many experts were hopefully that the abnormally low mortgage rates […]
Madeline Schnapp, Director of Economic Research, PropertyRadar said, in a recent blog post that: “for the sixth-consecutive month, January 2014 California property sales declined year-over-year, suggesting that the May-June 2013 jump in mortgage interest rates isn’t the only factor slowing California real estate sales. I believe two more temporary factors will likely push sales lower […]
Pending home sales in the U.S declined for the fourth consecutive month in September (and rose in Pasadena), as higher mortgage interest rates and higher home prices curbed buying power, according to the National Association of Realtors®. In addition there was growing insecurity over lawmakers’ inability to agree on a budget and that hurt consumer […]