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If you are looking to buy a home in San Marino or Pasadena California, you have come to the right place. The market in this area of Southern California has been changing with the economy. Although some home prices have dropped drastically, others have done a good job at keeping their value for residents.
San Marino Homes have consistently kept their value over the years. You might ask why San Marino is such a desirable area. Well, some people refer to this city as the original Beverly Hills. Whether that is true or not, the city has held a consistent housing market over the decades. One of the main reasons for this is due to the prestigious schools systems they have in the city. Parents from surrounding cities often strive to buy homes in San Marino for the simple fact that they are known for their schools. There are other cities in the San Gabriel Valley that have good schools, but San Marino is among the top. Paying the extra money for San Marino Homes can pay off when you’re not spending money on expensive private schools.
So how much does one of these San Marino Homes cost? Right now, even in a down market like the one we are facing, it is hard to find a home on the market under $1 Million. Although it is possible, the last time I checked there were less than 10 homes for sale in San Marino at this price. The house prices usually start and this point and they only go up.
Compared to San Marino Homes, Pasadena Condos don’t seem like much at all. This is one part of the market that has been hit pretty hard. For example, three days ago I was showing a Pasadena Condos to my clients. We walked around the beautiful facility. There was a pool, spa, sauna, weight room, laundry facility on each floor and outdoor barbeque area. The place was kept very clean, was gated and had underground parking. After talking to the residents we found out that their estimate was that a single bedroom condo in that complex usually sells for around $350-400k. In this case, the single bedroom condo was being sold for $275k and it hadn’t sold yet!
The lower end of the housing market is getting hit pretty hard. These Pasadena Condos are dropping in price and with fewer buyers out searching the prices are continuing to drop. As a Pasadena Realtor I have enjoyed working with the buyers who are going after the bottom end homes. When I hand a client their keys to the home they never thought was possible, it makes me feel good.