Okay, a quick Quiz:  What sells Pasadena Homes?

1. Location, Location, Location!
2. Correct Pricing!
3. Condition and Staging!
4. Sales Words Used in the Multiple Listing Service!

Huh?  Words sell homes?  That's something new...

Well, experienced and successful Pasadena Real Estate agents have known this for quite awhile.  Now, there's an article in The Seattle Times by Ann Brenoff that discusses just that.

Words matter. Wars have started over words. Civilizations have collapsed because of them. And, it appears the speed with which a house sells can be determined by them. Ann Brenoff

So, how can home sellers use words to give them the edge in selling their Pasadena house? 

A study done by a Canadian professor, Paul Anglin, after analyzing more than 20,000 home listings, found that sales words not only affect the speed of home sales, but also the PRICE of a home sale.

Certain words can make your home sell faster and for more money.  So roll up your sleeves and let's look at this together.

Words that help sell your Pasadena home faster and for more money are:

Handyman special

Beautiful (these homes moved 15 percent faster and for 5 percent more in price than the benchmark)

Curb appeal

Move-in condition (home listings took 12% less time to sell)

Landscaping (homes sold 20% sometimes)

Granite

Gourmet

Golf

Words that hurt:

Motivated seller (homes sold for 8% less in the study! In another study by Ronald Rutherford of University of Texas, afinance and real-estate professor, homes that listed "Motivated Sellers" in their description stayed on the market for 15 longer and sold for 4% less!)

Moving (homes sold for 1% less in the study)

Good value

As-is

Clean

Quiet

New paint

 Los Angeles Times

Another word: "MUST SEE" was not received well by home buyers and did not do anything statistically to improve the number of days a home was on the market before selling.

If you are selling your Pasadena home, review your Multiple Listing Service (MLS) description to see how your home is advertised and feel free to share this with your Pasadena Real Estate agent.

If you are selling your home by owner (FSBO), review all your marketing - MLS, flyers, etc and incorporate the words that sell.

If you are considering selling your home in and around Pasadena, work with a respected and knowledgeable real estate agent who can ensure that you get the highest $ for your home.

It's always interesting to see what homes sell for as compared to the home's asking price. 

When I start working with a new buyer, I recommend that we set them up to receive home listings directly from the MLS (Multiple Listing Service) inclusive of homes that go under contract and homes that just sold. 

Why?  Because getting information on home sales show how quickly these homes sell and for how much.  It's the quickest and easiest way to get a pulse on the real estate market.

So far, San Marino real estate home sales for the month of July are at 9 homes sold.

On average, these homes sold at 97.97% of asking price.  That's pretty good considering the average price per square foot for these San Marino homes is $611.22 and they were on the market for 57 days on average.*

This month, there was a bit of a multiple offer war for the property at 1522 Wembley Road: 

It originally came on the San Marino real estate market at $1,598,000.  It just closed escrow (SOLD) at $1,668,000 at a whopping $725.85 a square foot (compare it to the $611 average for the rest of the sales.)  It also sold in about two weeks!

Why was this home so special?

The location was great - it was in the Huntington LibraryDistrict of San Marino minutes from Lacy Park.  This home was beautifully staged and nicely updated. 

Congratulations to the Sellers and the new Buyers!

Interested in More San Marino Real Estate data? 

ALSO READ:  San Marino Real Estate Market Report

* ITEC data as of July 29,2008

Mortgage rates for July 25, 2008.  Loan amounts up to $417,000:

3/1 ARM              5.625%

5/1 ARM              5.750%

7/1 ARM              6.125%

10/1 ARM            6.375%

30 Yr Fixed          6.375%

All rates offered to the borrower with 1 point cost.  Rate quotes assume a purchase transaction with a 20% down payment, 720 credit score, and full income qualification.  Rates are subject to fluctuation.  Custom rate quotes and rate lock advice are available by calling (858)-777-9751.

MORTGAGE RATE TREND:

Next 7 days:       Slightly Lower

Next 30 days:     Slightly Lower

Next 3 months:   Neutral

Pasadena Mortgage rates for July 25, 2008.  Loan amounts up to $417,000:

3/1 ARM              5.625%

5/1 ARM              5.750%

7/1 ARM              6.125%

10/1 ARM            6.375%

30 Yr Fixed          6.375%

All rates offered to the borrower with 1 point cost.  Rate quotes assume a purchase transaction with a 20% down payment, 720 credit score, and full income qualification.  Rates are subject to fluctuation.  Custom rate quotes and rate lock advice are available by calling (858)-777-9751.

PASADENA MORTGAGE RATE TREND:

Next 7 days:       Slightly Lower

Next 30 days:     Slightly Lower

Next 3 months:   Neutral

If you are living in Sierra Madre or are thinking about relocating to Sierra Madre, you've come to the right place. 

This post will be updated monthly, around the first week of the month, for the previous month and will give you key real estate market indicators for Sierra Madre California.  Bookmark this page and visit it each month to see how Sierra Madre homes and condos are faring in today's real estate market.

If you are already a Sierra Madre homeowner and would like to get a monthly email sent to you with real estate activity around your Sierra Madre home, please click here and order your real estate monthly market report.  You will not be contacted by me or anyone on my team and the information will be generated automatically via email based on the criteria that you list.

If you are seriously considering selling your Sierra Madre home and would like a private consultation, please contact me at  626-627-7107  or Irina@Irina4RealEstate.com.

Sierra Madre Real Estate Market Report for the month of June 2008:

Sierra Madre Real Estate Market Report for the month of May 2008:

Single Family Residence	May-08
New Listings	14
Total Listings	41
Sales Pending	4
Homes Sold	9
Listings Expired	4
Average Days on the Market	72
Average Selling Price	$758,000
Condos and Townhomes	May-08
New Listings	3
Total Listings	9
Sales Pending	1
Homes Sold	1
Listings Expired	1
Average Days on the Market	65
Average Selling Price	$575,000

*Data gathered from ITEC MLS

Posted By: Irina Netchaev - Pasadena California Real Estate Agent