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Norma Mardelli's Blog

By Mardelli Real Estate | Agent in Pasadena, CA
  • California Showing Best Year-Over-Year Home Prices

    Posted Under: General Area in California, Home Buying in California, Home Selling in California  |  November 28, 2012 10:28 AM  |  94 views  |  No comments

    At the risk of sounding like a broken record, it's a great time to buy real estate and most active buyers agree! The amount of homes listed for sale on the market remain at an all time low. Down 17 percent to be exact. The market may slow down due to the slight rise in median home prices. A recent report in October by Realtor.com, found average national home price the same as last year.

    Here is the best part, California is showing several areas that are showing rising prices year-over-year. The areas showing the biggest growth from this time last year are:

    1. Sacramento - Year-over-year: 31.01%
    2.  Santa Barb-Santa Maria-Lompoc - Year-over-year: 27.03%
    3. Phoenix-Mesa, Ariz. - Year-over-year: 25.57%
    4. San Jose - Year-over-year: 20.49%
    5. Oakland - Year-over-year: 17.49%
    6. San Francisco - Year-over-year: 17.37%
    7. Fresno - Year-over-year: 14.64%
    So for all you sellers out there, this may be a great time to re-evaluate your situation as many homes are receiving multiple offers and selling over asking!

    Source: Realtor.com October 2012 Real Estate Data

  • Recovery in Housing Market Brings Gratitude

    Posted Under: Home Buying in Pasadena, Foreclosure in Pasadena  |  November 20, 2012 12:04 PM  |  102 views  |  No comments

    November brings warm thoughts and gratitude to the forefront, and thanks certainly appear to be in order when it comes to the progressive developments in housing this year.

    While some market stabilization was anticipated for 2012, we’ve seen a healthy recovery in many areas of California. Although we’re far from the peak of 2006, the California median home price is up 2.6% from June and up 11.5% from last year.

    One factor contributing to price stabilization – and even appreciation – is the fact that housing inventory remains tight. According to MLS trends, at the end of October, there was a meager 2 1/2-month supply of inventory in the city of Pasadena compared to last year which was 5 1/2-months.  With prices seeing movement and less homes for sale, the timing is right to sell. So, in addition to preparing your home for the holidays, this also may be time to get your home ready to list in the New Year.

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