patrick.net

Obama can inject all the money he wants into the housing market. I say this crap needs someone to push the RESET button so guys like me can move forward with raising my family in a nice neighborhood...

Until Obama gets the point that the Financial and Housing sectors need to be reset...I am NOT buying unless this fever catches a hold of me again.

LOL

Yes, we need that reset button for sure.

It's SO annoying that all they try to do is increase buyer debt and they call that "affordability".

We need people in the streets demanding LOWER PRICES for housing, and that means an end to Fannie, Freddie, FHA, etc.

Unfortunately, the government is attempting to increase GDP using housing equity instead of simply bringing the jobs back to American Workers.

Its simple economics: if you give an American Worker a wage paying job he will find something to spend the money on...LOL

A view from the street on Google Maps
That's a really tiny place for $450/sqft--and built in 1922.
The nabe looks better-kept than many here in uppity Marin at a bit more $.
Still, how long before 1000sqft 2/1 inflicts claustrophobia--and buyer's remorse?

if you give an American Worker a wage paying job...

Yeah, when corporations cannot manage to develop business opportunity (ie jobs)--why subsidize the executive epic fail? Execs take shareholder money and dick around with it, then take taxpayer money and do the same. Let them fail, and others with a clue will rebuild. Sorry for the op-ed...the "short-term vision" in business irks me.

Yep, this area of Pasadena is exclusive to those who make 100K and over in Salary. I have lived here for 5 years and it is generally considered an area where Preppies go to live...meaning those that want to live a decent life. I saw a similar area in Washington in a town called Bellevue a few weeks ago. I fell in love until I found out that condos were going for 1 million.

Yep, this area of Pasadena is exclusive to those who make 100K and over in Salary.

I'm glad you like the area and all, but isn't it a bit sad how one has to make a good salary to live in pre-Depression cottages built for blue collar families? I see the same BS in Marin, and I opted out of the game entirely--because prices all across CA are unsupportable.

This place won't sell for over 400.

325K

I called on it and it is already in escrow...sad aint it. This was a request for a backup offer...

Didnt mean to sound like a uppity fellow, I am definitely all for the blue collar American Worker.

That IS sad... I actually live in this area of Pasadena, rent a 2/2, 1000 sq.ft. for $1300 a mo., make WAY more than anyone in my neighborhood (I am pretty sure, based on my research of Pas. stats), and I STILL never feel like I can get ahead. I'm sure I'll never be able to comfortably retire, nevermind pay off a modest home (I'm not asking for a mansion here, just maybe another bedroom or some extra cupboard space). I keep waiting for these buyers to smell the Folgers and stop paying insane prices for blue collar homes, but it ain't happening. Hang in there 4X, I'm with ya.

4X,
I didn't consider you uppity at all. I just laugh at the uppity tude I see when people spend huge sums for cottages and then act like they've got a "special" tract of dirt. One could call that cognitive dissonance, when a good salary affords you nothing better than an old Depression-era 2BR. Same BS up here. If you ask me--that's a meager reward for a career in CA, despite all the noise about "wealth" in this state.

Sorry to hear that Just shoot me. I feel more of the same actually as my wife and I are in six figures and can barely see any reason to buy now adays.

Kurt, i like that special tract of dirt...its my new slogan. LOL

It came down to should we spend 1/2 my income on a cottage or rent while saving the remainder. I dont need a special tract of dirt...LOL

Sold for $442K.

JG1 says

Sold for $442K.

P.T. Barnum once said....

There's a lot of minutes.

Its crap like this that cause arguments between my wife and I. When she sees properties go for these prices I always hear “see people are still buying them they are not going to come down much more” then I have to respond that there are a lot of suckers” I hope I am right. I just signed a lease in South Pasadena for a 2br 1250sq apt. with W/D, huge back yard for kids to play in for 1495.00 only pay gas and electric. And they want like 500k+ for the same amount of space in the area. I would love to buy a nice house nothing fancy for a decent price like they were 10+ years ago. I am not going to gamble on my financial future for some crackerjack box. And for the amount of money I am saving I can put up with the smell of curry in my entry way.

254 marguerita Ln 2br 1.25b 1309sqf lot 4500sf 603$ per sqf $789,000.00
http://www.redfin.com/CA/Pasadena/254-Marguerita-Ln-91106/home/7010888

1730 Bank St, 2br 1b 1152sqf lot 4722sf 575$ per sqf 662.00 $662,000.00
http://www.redfin.com/CA/South-Pasadena/1730-Bank-St-91030/home/7007741

Sick

seems like rpanic01 is stealing. He should be ashamed. How's that gonna help make property affordable in Amerikkka? Honestly though, congrats to him. He's right in line with what Patrick said. Renting is cheaper. As I read his post I was thinking of the house at 1730 Bank because I was there at the open house yesterday. it is actually a one bedroom with a porch in the back turned into an office like space and the only heat is a wall heater in the living room. In any eastern state it would be worth $60,000.00 on the outside. This stuff is insane. The uppity realtor (spell check wants me to capitalize that. I think not) looked cornered as I asked about offers. She said they are going to collect them and present them all next week. As a comparison to that I can buy a 3300 + sq ft in San Marcos, East Carlsbad built after 01 with all the amenities including pool and spa, a gorgeous house for their asking price. Well, I can't buy it but the money can.

*titter*