Comments on: Pasadena’s July Home Sales Are Highest Since 2006 http://www.up2daterealestate.com/2009/08/11/pasadenas-july-home-sales-are-highest-since-2006/ Brought to you by Doug and Deena Willis Thu, 25 Feb 2010 17:30:52 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Hannah B. http://www.up2daterealestate.com/2009/08/11/pasadenas-july-home-sales-are-highest-since-2006/comment-page-1/#comment-10133 Hannah B. Mon, 17 Aug 2009 20:58:26 +0000 http://www.up2daterealestate.com/?p=3506#comment-10133 You mention that the season home sales have returned... but are you absolutely certain it ever left? Looking at your data as well as data I have compiled along with others, I don't think there's any way to prove that seasonal home sales ever left. We're taking the same data and interpreting it differently based on our own viewpoints. For example, when I look at your graphs for the past couple of years, the relative shapes are very similar. What that says to me is that there may be some level of a seasonal effect, regardless of how minimal the impact. To me, it looks like seasonality played a role in not making price "correct" at a quicker pace. You mention that the season home sales have returned… but are you absolutely certain it ever left? Looking at your data as well as data I have compiled along with others, I don’t think there’s any way to prove that seasonal home sales ever left. We’re taking the same data and interpreting it differently based on our own viewpoints. For example, when I look at your graphs for the past couple of years, the relative shapes are very similar. What that says to me is that there may be some level of a seasonal effect, regardless of how minimal the impact. To me, it looks like seasonality played a role in not making price “correct” at a quicker pace.

]]> By: Tim K. http://www.up2daterealestate.com/2009/08/11/pasadenas-july-home-sales-are-highest-since-2006/comment-page-1/#comment-10094 Tim K. Sun, 16 Aug 2009 15:59:30 +0000 http://www.up2daterealestate.com/?p=3506#comment-10094 Prices in Pasadena are still WAY higher than what the local population can afford. I suspect part of the recent sales activity has been juiced due to Obama's 8K tax credit. For some people, saving 8K even though they overpay by 10's of thousands is a 'deal'. I agree with BC though - it really is sad when nearly everyone in this city, could not re-purchase their own home today if they had to. Prices in Pasadena are still WAY higher than what the local population can afford. I suspect part of the recent sales activity has been juiced due to Obama’s 8K tax credit. For some people, saving 8K even though they overpay by 10’s of thousands is a ‘deal’.

I agree with BC though – it really is sad when nearly everyone in this city, could not re-purchase their own home today if they had to.

]]> By: BC http://www.up2daterealestate.com/2009/08/11/pasadenas-july-home-sales-are-highest-since-2006/comment-page-1/#comment-10036 BC Thu, 13 Aug 2009 16:03:31 +0000 http://www.up2daterealestate.com/?p=3506#comment-10036 I still don't understand why the median home price is 600k and average 50 yrs old. Sure it's come down from the high, but if the high was already inflated by 2.5 times or more, it dropping by 35% or even 50% is still not worth it. You have to have a combined income of 200k to qualify for a loan unless you go back to the crazy loans that falsely brought the prices up the first time and lead to the crash and people living above their means with no savings. This at a time where incomes are decreasing, taxes going up, and jobs being lost and stockmarket still at a 7 year low? People who buy these homes are not making a wise decision and for people to tell them that it's a great time to buy should be a crime. Working as a professionally licensed engineer for 12 years and still can't afford a medium sized home in pasadena despite a 90+k/year job (at one point 100k+) and 800 + credit score is sad. I still don’t understand why the median home price is 600k and average 50 yrs old. Sure it’s come down from the high, but if the high was already inflated by 2.5 times or more, it dropping by 35% or even 50% is still not worth it. You have to have a combined income of 200k to qualify for a loan unless you go back to the crazy loans that falsely brought the prices up the first time and lead to the crash and people living above their means with no savings. This at a time where incomes are decreasing, taxes going up, and jobs being lost and stockmarket still at a 7 year low? People who buy these homes are not making a wise decision and for people to tell them that it’s a great time to buy should be a crime. Working as a professionally licensed engineer for 12 years and still can’t afford a medium sized home in pasadena despite a 90+k/year job (at one point 100k+) and 800 + credit score is sad.

]]> By: Twitted by pasadenaup2date http://www.up2daterealestate.com/2009/08/11/pasadenas-july-home-sales-are-highest-since-2006/comment-page-1/#comment-10001 Twitted by pasadenaup2date Wed, 12 Aug 2009 00:52:41 +0000 http://www.up2daterealestate.com/?p=3506#comment-10001 [...] This post was Twitted by pasadenaup2date [...] [...] This post was Twitted by pasadenaup2date [...]

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