South Pasadena's inventory of new homes for sale is on the decline. With only 9 new homes on the real estate market and 5 condos and townhomes, it's no wonder that this month's Dusty Deals™ list is so minimal.
Dusty Deals™ is a name that I've given to homes for sale that have been marketed for over 100 days. Are all of these great deals? Not necessarily. BUT, the sellers have been actively marketing their homes for a very long time and is probably ready to deal.
Why are these homes on the market still? The most likely reason is that they were overpriced to begin with. The first few weeks of marketing a home for sale are the most critical weeks for any seller. If the property is overpriced, or not marketed correctly, it gets stale. Local real estate agents ignore these homes and avoid showing them to their buyers.
Potential home buyers look these homes up on the internet or receive property listings from their real estate agents from the Multiple Listing Service, but wonder what is wrong with them since they didn't sell. My take on this is, if you are looking for a deal, these homes are the best place to start. Why? Home sellers are tired of showing their homes and most are ready to NEGOTIATE their price and SELL!
So without further ado, here's the very minimal Dusty Deals™ list for South Pasadena. Please note that there are no Single Family Homes on the market for over 100 days, only a few South Pasadena condos.
South Pasadena's Dusty Deals™ for April 2009:
|Address||BR||BA||Original Price||Current Price||Price /SqFt||HOA||MLS#|
|1810 Ramona Ave #26 South Pasadena, CA 91030||2||2||$380,000||$380,000||$292||$432||12114812|
|1035 Arroyo Verde Rd #D South Pasadena, CA 91030||3||3||$430,000||$430,000||$382||$150||640030215|
|6221 E Monterey Rd Los Angeles, CA 90042||2||2||$450,000||$450,000||$298||$255||642284967|
|1130 Huntington Dr #B South Pasadena, CA 91030||2||3||$499,999||$499,999||$348||$170||637791054|
|1946 Huntington Dr South Pasadena, CA 91030-4959||2||3||$529,800||$529,800||$321||$300||642313552|
|402 El Centro St #5 South Pasadena 91030-3054||3||3||$592,500||$592,500||$337||$505||642295205|
List extracted from the Multiple Listing Service (ITEC)
I have previewed a few of these South Pasadena condos over the last few days and have to tell you that they were in terrible shape. Unkept and not clean, smelly and unpleasant to walk through. If you can see beyond that, this might be an opportunity.
All South Pasadena homes and condos for sale on the real estate market today:
If you are thinking of buying a South Pasadena home, South Pasadena condo or townhome, 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