Today I have some great news for everyone in the Pasadena area looking to buy or sell. It appears that we have a win-win situation here whether you’re buying or selling. There are a few reasons why this is true, and allow me to fill you in on why this is:
- Interest rates are still very low: Mortgage rates are hovering around 4-5%, and these historically low rates are making mortgages more affordable than ever. If you’re selling, this will spur buyers to purchase. If you’re buying, this is only another reason to buy now rather than later when interest will be rising.
- Prices are holding steady & rising: For example, just last month in Pasadena, there were 74 homes that closed Escrow, yet 26 of them closed at list price or above.
- The same thing happened in San Marino, where 6 of the 7 properties were sold for much more than their listing prices. The same thing goes for South Pasadena too!
- Inventory is still low: This helps to raise the price of properties by creating a great demand for them. This will mainly help sellers, but as spring comes around the corner more homes will be popping up, and that will help buyers too. There will be more homes to choose from, so prices will not be shooting up as high.
If you’ve been delaying a real estate transaction, then now is the time to enter the market.Whether you’re buying or selling, you can get a good price on a home, and I can help you. Contact me with any inquiries about Pasadena real estate and I would be more than willing to help you out.