Pasadena: Thursday March 22nd, 2018

Rain from morning to night. What a treat! Not too long ago, we had a drought in Southern California.

This torrential weather is the ultimate test of a home's structural soundness. Saw a slew of new listings on Caravan today. Luckily, even the fixer homes stayed dry on the inside!

I stuck to the Pasadena area for this one, and I won't list all the caravan addresses. There's a search function you can use on the MLS page of my website that comes with a map. Don't hesitate to get in touch with me if you have questions, need consultation, details, or comparable sales.

There were three open houses on Linda Vista near the Rose Bowl, as well as a smattering of opens near Caltech and Hastings Ranch. They comprised a mixture of turnkey types: new construction; full renovation; well maintained with layered home improvements. Other homes I sought out were teardown ready, and will eventually fall into one of the turnkey categories.

Some of the homes in this neighborhood could be multi-generational homes, with accessible ground level access, as well as upstairs living quarters. They tend to be large estates, starting from at least 10,000 S.F. for lot space.

These are the kinds of updated homes that older buyers (55+) can afford to purchase upon the sale of their primary residence in a more established neighborhood (if that home has appreciated to equivalent price levels). Such homeowners would then be able to transfer their old property tax basis to their new home and continue to pay roughly the same amount of tax as they do currently.

The greatest benefit to these buyers is the immediate utility, and, reduced amount of maintenance needed for a new or recently renovated home (that simply has not endured wear and tear). It doesn't hurt either that new appliances normally come with warranties (if not, warranties can be purchased separately).

In this way, as older homeowners reach a new stage in their lives, they can graduate to a comfortable turnkey home in the Pasadena neighborhood pockets now offering these new listings.

By selling their homes, owners allow the homes they've occupied for decades to fall into the hands of a younger family, or contractor, who will put in the labor needed to renew and update them. This frees up the same homeowners to buy new homes that better suit their current needs and lifestyle.

Please contact me if you've been thinking about selling your home and would like to discuss next steps.

Jessica Lo | CalRE: 02047393 | Direct Line: (626) 685-4065

www.1969oakwood.com