Personal Finance Guide

Have you been searching for Pasadena CA Homes for Sale? The market is ripe for buyers that are either purchasing their first new home or are considering buying up and purchasing a more massive home. Today is the final walk through for a client that bought a home for $45,000 less than the appraised value. This property was bank owned and it has provided a great first time home for a young couple that couldn’t have bought two years ago.

What are the difficulties to buying in this market? Really, the biggest problem we are seeing is financing. Most people are either having a difficult time getting a loan because of credit problems, employment issues or income limitations. These challenges are putting less and less purchasers in the market today. In addition, many people are having their homes foreclosed because they can’t make the monthly payments, whether it be because of job loss or economic strain. Thus, the supply is increasing at a consistent rate.

When you bring these two together, the market becomes saturated with homes that aren’t selling. Realtors or Real Estate Agents call this a buyer’s market. When there’s more inventory than the buyers can buy, the buyers take more control and have more options to take into account and more power to leverage in negotiating. We Pasadena CA Realtors really enjoy working with buyers in this market.

But how much less than asking price can we offer? This is a common question that must be asked about each very special property. Some people think there is a magic percentage that will get accepted. We don’t believe this to be true. We are finding that some homes are priced great and they sell for asking price or even more. Some homes are way overpriced and can be bought for a lot less than asking price. Another factor to consider is the motivation of the seller. If he or she isn’t motivated it will be harder to negotiate, even though not impossible. On the other hand, if they just lost a job or need to move closer to family it is a good indication that they’re motivated to move. Asking the right questions and determining motivation is what a Realtor is paid to do.

Recently in our city we have found some of the ideal deals to be the Pasadena Condos for Sale on the market. They can be a great first time home or investment for someone seeking cash flow.

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