I am working with several Pasadena home buyers who are looking for a character home in Pasadena. When one thinks of a character home, Pasadena Craftsman or California Bungalows come to mind.
Pasadena craftsman homes in particular have been very difficult to come by. In April, to date, only 5 new Craftsman homes for sale appeared in the Multiple Listing Service. A total of 29 Craftsman homes are available for sale in Pasadena with 22 of these homes listed at over $500,000.
If you are a Pasadena home seller with a craftsman home under $500,000 and worked diligently to prepare your home for sale, you know that your home will most likely sell the first weekend with multiple offers. Why?
For the first time in a very long while, home buyers are realizing that there's a tremendous opportunity to finally buy and own a home of their own.
- Pasadena interest rates are still under 5%, the lowest that they've been in years.
- Pasadena's home prices are the lowest they've been in years.
- Obama's Stimulus Incentive for first time home buyers and a potential $8,000 tax credit is extremely inviting.
- And, we're beginning to see more and more Pasadena foreclosures available.
Since February 1, 2009, 9 craftsman homes have closed escrows and have been sold for an average of $631,544. This interprets to about $382 per square foot. There are also 10 homes that are currently in escrow or under contract, with smart sellers pricing them in the $375 per sq. ft. on average. It'll be interesting to see the price that these homes close at. Based on what I've seen over the last month of so in the Pasadena real estate market, I'll take an educated guess and say that they will sell over asking price.
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If you are thinking of selling your Pasadena home, please give us a call for a comprehensive and free consultation. We can be reached at 626-629-8439.
IRINA NETCHAEV & ASSOCIATES
Pasadena Real Estate Agents