South Pasadena, CA Real Estate News

By Doug Willis
(RE/MAX Property Concierge)
The South Pasadena Housing Market bounced back from its dismal showing in June to a more moderate pace. Last year the market took it's dip in July, as opposed to this year in June. This is why its good to look at a minimum three month reporting cycle, so that the monthly volume swings have an opportunity to correct themselves.Overall, there are fewer homes being sold in ‘07 as opposed to ‘06. This appears to be a fact, no matter which area you are in. However the South Pasadena market has been very resilient to some of the changes going on in the industry. One reason is the affordability factor in South Pasadena. Of the twenty homes sold in July, there were only three recorded sales under $650,000. Homes for sale that are priced below $650,000 seem to be feeling more of the slowdown in...
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By Doug Willis
(RE/MAX Property Concierge)
South Pasadena is often thought to be somewhat immune to the typical ups and downs of the real estate cycle. However in June it showed that if the rest of the area has caught a cold, South Pasadena has the sniffles. June is typically the time we begin to see the Summer selling season kick into high gear, but this year it failed to show up. It didn't even make an appearance. There were only 9 recorded home sales for June 2007 compared to 25 last year. Why the dismal June? It can be hard to quantify. For a home to be sold in June, it would have probably gone into escrow late April or by the end of May. A slight up tick in interest rates may have kept the lid on home sales.Also if you look at the absorption rate with approximately 67 homes for sale or waiting to close escrow, there is curr...
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By Eddy Martinez
(Nationwide Funding Group)
Credit protections have mulitplied rapidly in the past few decades. The concepts of "fair" and "equal" credit have been written into laws that prohibit unfair discrimination in credit transactions, require that consumers be told the reason when and why credit is denied, let borrowers find out about their credit records, and set up a way for consumers to settle billing disputes. The main purpose of each individual laws was meant to reduce the problems and confusion about consumer credit. In todays economy credit is used more widley. Your credit is checked when you open a bank account using chex systems. When you apply for store credit your credit is also checked. With so many different companies running customers credit in many different ways credit problems become more and more complex....
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