The Real Estate market is definitely heating up in Pasadena and the surrounding areas.

Mortgage rates are still at all-time lows, we have low inventory on properties coming on the market and at the same time we have many people moving to our area who want to raise their families here. Myself and many agents are experiencing multiple offers and bidding wars as we did six years ago before we had the big mortgage debacle and the economy tanked.

The reasons for the low inventory are many but the main ones are worries over new taxes, higher income taxes, tax on home sales, etc. have caused many people to hold off on selling their property. Hopefully now know that some of the tax questions have been answered we will see some people feeling more comfortable that if they sell they won’t be subject to additional tax on the sale.

Is this a good time to buy or sell?

This is a good time for both buyers and sellers! Interest Rates are at an all-time low, the minimum for fico scores for a loan has dropped several points.

Owning a home in Pasadena and surrounding areas is still a sound investment and we can still deduct mortgage interest on our taxes. However, on the other hand, inventory of homes for sale is very low at the moment. Some sellers have been waiting to find out about the consequences of taxes on the sale of their homes and income tax rates and just the whole talk about the fiscal cliff effects the overall comfort level for many. But the good news for sellers is that we are seeing the return of multiple and higher than listed offers on most properties in Pasadena and the surrounding areas, like we did before the market crashed a few years ago.

Find out what your home is worth!

There are many important people who make up my real estate team, and I will introduce one of them every week.

Please feel free to contact them, or me, if you have any questions or need someone to help you with their particular expertise.

Every person on my team plays an integral part in ensuring a successful acceptance of your offer and a successful close of escrow if you are buying, and helps to generate a dynamic marketing campaign, negotiate the best price, and ultimately ensure a stress free transaction if you are selling.

The market in Pasadena is hot and it makes transactions, whether buying or selling, complex and makes it essential that you have a very experienced team working for you.

Because multiple offers on well priced homes are becoming more and more the norm, having a well respected mortgage professional is a plus, sellers want to make sure that you can close the deal.

My go-to lender is Danny Nashua because he always goes above and beyond for his clients. Danny has been a residential mortgage professional for more than 10 years, and has been recognized nationally as a Top 100 producer in Mortgage Originator Magazine.

Daniel Joseph Nausha
Mortgage Loan Originator
Home Loan Division
Real Estate Mortgage Exchange – REME
Work 626-639-1708 Pasadena
Cell 818-384-9065
Fax 818-949-0220

California Department of Real Estate Salesperson License #01363472 / NMLS #246355

Years ago you had to go to a real estate agent in order to get information on property listings. Volumes were filled with all the local real estate listings, and were distributed to real estate offices. The agents would review the books and find homes that matched the needs of their clients. Then the address was given to the clients so they could do a “drive by” to see, at least, the outside of the home. This information was not readily available to the public.

The times have changed drastically. Today, the majority of once-private information is now public. So does that mean you can handle the entire real estate transaction on your own? Not likely… especially if you want a highly successful outcome.

Understanding my value as an agent:

Professional experienced real estate agents are trained to help streamline your real estate transaction. Experienced agents are highly knowledgeable about the industry. I can offer more than just good listings for you to consider. I can help you understand the information that you are getting. I can help you sort through comparable properties and decipher information listed in the Multiple Listing Service. I can help you spot potential issues and make you aware of important documents. Having me as your agent to help guide you through the process of buying or selling your home can help you save time, and money.

Pricing experience:

One of the biggest values an experienced professional agent can offer has to do with pricing. Whether you’re buying or selling your home, I can help you understand the current market conditions. . I can design negotiation strategies to help ensure that your interest is protected. Good negotiation skills of a highly knowledgeable agent can be critical to your transaction. When you hire me to work on your transaction, I have a vested interest in the sale. However, the commission is far less than the amount of interest you have in the property. Therefore, I, as an experienced agent, can leave emotional interest out of the negotiations and work for the best outcome by presenting my client’s situation in the most appealing way possible. I must also keep my client information confidential as part of my fiduciary duty.

Coordinating the process:

Another very useful function of an experienced professional real estate agents is the assistance I can provide to coordinate the complex home-buying and home-selling process. Real estate transactions require an enormous amount of paperwork. I cannot provide legal advice about the documents, but I can point out important aspects and disclosures, and alert you to the filing time-frame when these materials must be signed. I also have a very good network to direct you to other business experts for more specific answers to your questions. I am very accustomed to coordinate and keep on schedule things like hiring inspectors, staying in touch with the other party’s agent, explaining how repairs will be fixed and who should pay for them, and directing you to resources for financial matters. I have a transaction coordinator on site to make sure everything is done in a timely matter prior to closing.

I also tell my clients, ”when you are in a position to buy or sell real estate, get educated.” Read articles, go on the internet, and watch videos from as many sources as possible. Study the market and prepare questions to ask me when we meet. This will make you more prepared to interview and hire the right agent. Ultimately, you will find that having an experienced professional agent to help guide you through the real estate transaction will be a very good investment.

Pasadena home prices have increased at different rates, depending on the neighborhood you live in.

The average price per square foot for Pasadena is approximately $401.00 an increase of 14.6% compared to the same period last year.  The median sales price for homes from November 2012 to January 2013 was $525,000 bases on 370 home sales. Compared to the same period one year ago, the median home sales price increased 11.9% or $56,000, and the number of home sales increased 7.9%  there are approximately 347 resale and new homes on the market in Pasadena, as well as approximately 395 homes in pre-foreclosure, or bank owned.

The average listing price for homes in Pasadena was $955,786 for the week ending February 13th, which is a 4.7% or $43,269 increase compared to the week before.

Some of the most popular neighborhoods include:
North central average list prices of $490,647, up 10.1%
South arroyo, average list price, $1,026,726, up 12.6%
South Pasadena, average list price, $1,181.333382 up 11.8%
Mid central, average list  price, $624,488 down 4.9%
East Pasadena, average list price, $1,368,000 down 15.4%