Home Selling in Pasadena>Question Details

Annie, Home Seller in Pasadena, CA

Are multiple offers common in the nicer neighborhoods of Pasadena?

Asked by Annie, Pasadena, CA Tue Apr 6, 2010

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Carrie Benuska’s answer
Hi Annie,
Our market in Pasadena is really starting to loosen up. Buyers are ready to buy, and now sellers seem to be gaining confidence in the market enough to sell. The key to a successful sale in this market is the appropriate pricing of the home. Our market has taken a hit, although much smaller than much of the country, and sellers must reflect this in their pricing decision. Well-priced, solid homes in good neighborhoods are selling very quickly, and sometimes with multiple offers. It is very important as a buyer to be pre-approved and have a good downpayment, so that you will be able to compete in this treacherous market. It is a great time to buy real estate!
0 votes Thank Flag Link Mon May 3, 2010
Hi Annie,

Thank you for your question. I recently listed a home in Arcadia and received 10 offers within one week. Its sometimes challenging for the buyers because you might find a home in a nice area of Pasadena and its been on the market for a while and then one down the street has generated multiple offers! When listing a home pricing it the right price is so important and if its a little underpriced it might lead to multiple offers. Good luck on your search!
Web Reference: http://www.peggybray.com
0 votes Thank Flag Link Sat Apr 10, 2010
Dear Annie,

Like everyone else has stated - yes multiple offers are common with well priced homes.
Web Reference: http://www.jpvargas.com
0 votes Thank Flag Link Tue Apr 6, 2010
Dear Annie,
If the home is well priced, I am finding multiple offers (and some all cash) in all areas that I have worked in.
0 votes Thank Flag Link Tue Apr 6, 2010
Yes, for the reasons of a well priced home and for great properties. The better the price, the better the area and the better the home, the more likelihood you will see multiple offers. Depending on the home, pricing the home in order to create a multiple offer scenario is one market strategy good REALTORS will use and use more often in nicer areas like in Pasadena and the Arroyo.

Curt Schultz, REALTOR and Architect
818 240-5006
0 votes Thank Flag Link Tue Apr 6, 2010
As an active Pasadena area Realtor, I can personally attest to seeing more than one property under 700K with over 30 offers in both the Brigden Ranch area and the western area of Pasadena. Properties in San Marino and South Pasadena are also recieving multiple offers, some up to 20 offers. There is significant buyer activity out there in most price ranges under 1.5Million. Hope that helps!

Lee Bothast, CN
2nd Generation Pasadena Area Realtor
International Sterling Society 2009
Coldwell Banker Residential Brokerage
DRE #01512696
0 votes Thank Flag Link Tue Apr 6, 2010
Yes Multiple offers are the norm currently with well priced homes and many 1st time home buyers out ther looking before the 8K credit expires at the end of April.
0 votes Thank Flag Link Tue Apr 6, 2010
Multiple offers are common in any geographic location and price range as long as the property is well price/priced below market value.
0 votes Thank Flag Link Tue Apr 6, 2010

Currently, multiple offers are common on any correctly priced home under $740,000 in any neighborhood. The main reason is low interest rates and low down payments. Don't know if your home is in that price range or not. I have even received multiple offers on homes priced over $1.0 million. It all depends on how it is priced and how is it marketed.

As a home seller (which your profile says you are) you need to make sure to price no higher than the mid-range of Fair Market Values. Your home must appear to be a great value to the buying public. That will attract lots of buyers and lots of buyers usually means multiple offers. Once you are in that wonderful position of having more than one buyer wanting your home, you are now in the top negotiating spot and should end up with a great price for your home. Dare to Dream.

Shel-lee Davis, CDPE
Your Real Estate Consultant for Life
RE/MAX Palos Verdes Realty
0 votes Thank Flag Link Tue Apr 6, 2010
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