Pasadena Condos: Home or Condo?

Condominiums and townhouses offer an affordable option to single-family homes in many markets, and they’re ideal for those who appreciate a maintenance-free lifestyle. But before you buy, make sure you do your legwork and seek the help of a Pasadena Realtor. These are some of the important elements to consider:

Storage. Some condos have storage lockers, but usually there are no attics or basements to hold extra belongings.

Outdoor space. Yards and outdoor areas are usually smaller in condos, so if you like to garden or entertain outdoors, this may not be a good fit. However, if you dread yard work, this may be the perfect option for you.

Amenities. Many condo properties have swimming pools, fitness centers, and other facilities that would be very expensive in a single-family home.

Maintenance. Many condos have onsite maintenance personnel to care for common areas, do repairs in your unit, and let in workers when you’re not home — good news if you like to travel.

Security. Keyed entries and even doormen are common in many condos. You’re also closer to other people in case of an emergency.

Reserve funds and association fees. Although fees generally help pay for amenities and provide savings for future repairs, you will have to pay the fees decided by the condo board, whether or not you’re interested in the amenity.

Resale. The ease of selling your unit may be dependent on what else is for sale in your building, since units are usually fairly similar.

Condo rules. Although you have a vote, the rules of the condo association can affect your ability to use your property. For example, some condos prohibit home-based businesses. Others prohibit pets, or don’t allow owners to rent out their units. Read the covenants, restrictions, and bylaws of the condo carefully before you make an offer.

Neighbors. You’re much closer to your neighbors in a condo or town home. If possible, try to meet your closest prospective neighbors.

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Pasadena Real Estate: Tips To Selling Your Home

In a down market, whether you're selling a multi-million dollar mansion or a condo, pricing it well affects how long it sits on the market. When it's a buyers' market, time is of the essence, and the longer a house sits, the less it will eventually sell for. Especially if you have a high-quality property, don't be afraid to sandbag the listing price to garner more interest. Chances are the money you lose here will be less than if you listed it higher and subsequently reduced the price.

Tip #1: Proper Pricing

Economists, brokers and home sellers agree a mispriced home sits on the market longer, and eventually sells for less than a similar, correctly priced home. The same theory holds for trophy properties. Slightly lowballing a price upfront often results in a higher sales price, because it generates greater interest and more offers. It is also less likely to languish; when this happens, buyers wait, hoping its price will go further south. In a down market, that's a good way to go for houses that, in an up market, would have multiple offers.

Tip # 2: Employ An Internet Savvy Pasadena Realtor
More often that not, realtors add enough value to the sale of your home to make up the 6% of the sale price they will receive in commission. The National Association of Realtors (NAR) estimates that three-quarters of home buyers start their searches online. The most important thing is to choose a realtor with online presence and who is familiar with your neighborhood. Search online on sites such as Craigslist.com or type in Pasadena Realtor in Google.com. Pick a realtor with heavy internet presence. In a down market, a realtor with internet marketing knowledge becomes critical, because he or she knows how to market to not only local buyers but also to potentially thousands of buyers searching for a Pasadena Real Estate Listings on the internet.

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