Realtors Having A Hard Time Selling New Real Estate
Monday, November 3rd, 2008 Subscribe To Our Feed
Why is there so much new development in Southern California if the market can’t sustain it? I don’t think many of the developers realized some of the real estate challenges we are facing today. Even though there are still buyers out there, it is definitely harder for developers to get rid of their inventory. Several developments have sat empty and vacant in Southern California. The price has dropped slowly over the past year, but not quick enough to get below the market. Therefore, developers are just sitting on their completed complexes. Although it might not be a good time to sell right now, it can be a good time to buy newly developed Real Estate.
Granite Park Pasadena is a new development that is located in Pasadena California. This elegant development of luxury condominiums will consist of 71 high end condos ranging in price from 1 million to 2.5 million dollars. The Granite Park condos will consist of: underground parking, architecture inspired by Irving Gill, photo gallery in the lobby, 1,400 s.f. terraces, 24-hour security, Viking appliances, Kohler fixtures, beautiful landscaping, private walkways, gardens & meditation areas, large pool and spa, barbeque area, putting green for golfing enthusiasts, and a great location (located next to shops & restaurants)
The Granite Park Pasadena condos are not yet listed on the MLS. In order to have an opportunity to buy one of these luxury condos, you need to schedule a viewing of the show room with a Real Estate Agent and put down a fully refundable deposit.
This is not the only new development in the area. The city of Pasadena and nearby cities are filled with brand new Real Estate that Real Estate Agents have listed for sale. When buying a property whether it be a first home or an investment property there is always question as to whether or not it is a good time to buy. In a great real estate market when homes are selling faster than people are moving, the question is “Is the price inflated?” Buyers are afraid because the market could turn downward and they would lose equity. The question in today’s market is “Has it hit bottom yet?” Although this is a valuable question, it shouldn’t keep buyers from buying. Few people are ever going to time the market exactly. If you buy when it is “down” in a general sense, then you just have to wait for the natural cycle to take it back up.
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