by Kathy Gibson | Dec 11, 2024 | Market, Selling
Supporting senior parents as they consider downsizing involves more than just helping them pack and relocate. It’s a process that blends emotional sensitivity with practical planning, as many seniors face a mix of excitement, uncertainty, and nostalgia during this transition. Downsizing can mean letting go of a lifetime of belongings and adjusting to a new space, but it also presents opportunities for a fresh start and a simpler lifestyle. By approaching the situation with empathy and preparation, you can help your parents navigate this change smoothly while honoring their memories and preferences. Embracing a Simpler Lifestyle This transition is not just about moving to a smaller home; it’s about embracing a lifestyle that prioritizes simplicity and quality of life. By downsizing, your parents can focus on what truly matters, freeing themselves from the responsibilities of maintaining a larger home and instead dedicating time to activities they love. This shift also allows for meaningful decluttering, where possessions with sentimental value are prioritized, fostering a sense of freedom and clarity. Supporting your parents through this process can strengthen family bonds and create a shared journey towards a more fulfilling future. Supporting Seniors Through Emotional Transitions When seniors consider downsizing, they often face emotional challenges due to their strong attachment to their long-time homes. To support seniors effectively, it’s essential to approach these feelings with empathy and understanding. Acknowledging their emotional ties while gently guiding them through the process can help ease their anxiety. By actively listening and validating their concerns, you can facilitate a smoother transition to a new living situation. Downsizing in Their Own Way Your parents decision to downsize...
by Kathy Gibson | Nov 18, 2024 | Buying, Home and Garden, Market, Neighborhood, Open House, Selling
Pasadena Real Estate Market Update: November 18, 2024The Pasadena housing market continues to favor sellers this week, with the median list price for a single family home holding steady at $1,823,500. The Market Action Index (MAI), which measures the balance between supply and demand, has slightly increased to 46, up from last month’s MAI of 45. This subtle shift reflects a strong seller’s market. Inventory UpdateThe number of homes available for sale has decreased to just 98, reinforcing the tight inventory conditions that have defined Pasadena’s real estate market recently. With demand outpacing supply, sellers remain in a strong position, but the market appears to have reached a relative equilibrium between sales and inventory. What Does This Mean for Buyers and Sellers?– For Sellers: Low inventory and sustained demand mean this is a great time to list your property. With the MAI firmly in seller’s market territory, competitive offers and favorable terms are more likely. – For Buyers: While competition remains high, market stasis could provide an opportunity to negotiate, especially if you’re ready to act quickly. Staying aware of new listings is key as inventory levels remain tight. What to WatchIf the market heats up further, with either a reduction in inventory or an increase in buyer activity, we may see prices begin to climb again. Keeping an eye on the Market Action Index will provide valuable insights into whether conditions are shifting more in favor of buyers or sellers. ConclusionPasadena’s real estate market remains robust, driven by limited inventory and steady demand. Whether you’re considering buying or selling, understanding the dynamics of the local market is essential...
by Kathy Gibson | Nov 4, 2024 | Buying, Market, Neighborhood, Selling
Pasadena, CA Mon Nov 04 2024 This week the median list price for a single family home in Pasadena, CA is $1,804,500 with the market action index hovering around 46. This is an increase over last month’s market action index of 45. Inventory has held steady at or around 98. Market Narrative In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward...
by Kathy Gibson | Oct 7, 2024 | Buying, Home and Garden, Market, Neighborhood, Selling
The housing market continues to adjust to the first rate cut by the Federal Reserve in years, sliding mortgage rates, and an economy that keeps surprising to the upside. Putting all of these factors together, the California Association of Realtors (C.A.R.) released its forecast for 2025 and expects both home sales and home prices to continue their upward trend. Pasadena, CA Mon Oct 07 2024 This week the median list price for a single family home in Pasadena, CA is $1,789,000 with the market action index hovering around 45. This is less than last month’s market action index of 49. Inventory has increased to 97. Market Narrative The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on...
by Kathy Gibson | Sep 12, 2024 | Buying, Home and Garden, Market, Neighborhood
Buying a home is a monumental decision, often marked by excitement and uncertainty. Home buyers’ biggest dilemma is choosing between a starter home — a first step on the property ladder — and a forever home, where many years (if not a lifetime) will be spent. Understanding various considerations is critical to making this significant choice a little easier. Realtor Kathy Gibson shares more: Understanding Your Financial Landscape The first and perhaps most critical factor in your decision-making process is assessing your current financial situation and budget. Buying a home, whether a starter or a forever home, is a substantial financial commitment. Understanding what is fiscally feasible for you at this point in your life is vital. Consider your savings, income, debts, and other financial obligations. Remember that the cost of a home isn’t just the listing price; it includes property taxes, insurance, maintenance, and potentially homeowner association fees. Deciphering Loan Terms Another essential aspect is understanding the loan terms available for starter and forever homes. The type of loan, interest rate, duration, and down payment requirements can significantly impact your monthly expenses and long-term financial planning. Different loan products are tailored for various types of buyers and homes, so it’s essential to find the one that best suits your situation. Energy Efficiency — A Cost-Effective Future Evaluating a home’s energy efficiency is increasingly important. More up-to-date, energy-efficient homes — often found among forever homes — can lead to significant cost savings in the long run. These homes might feature better insulation, energy-efficient windows, solar panels, or newer HVAC systems to reduce your carbon footprint and lower utility bills....
by Kathy Gibson | Sep 9, 2024 | Buying, Home and Garden, Market, Selling
Pasadena, CA Mon Sep 09 2024 This week the median list price for a single family home in Pasadena, CA is $1,799,000 with the market action index (MAI) hovering around 50. This is an increase over last month’s market action index of 49. Inventory has decreased to 95. In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward...