The highest-priced home sold in October 2019, was 430 S San Rafael Ave Pasadena. This 1917 Mansion was listed for $8,000,000, reduced three months later to $6,888,000, and sold for $6,400,000. The sellers carried the mortgage for this buyer with no bank financing involved. There are several reasons a seller might carry a mortgage. One is to defer capital gains. Another reason is that a buyer may not be able to obtain financing.
430 S San Rafael Ave Pasadena | MLS Remarks Read:
Discover a perfectly preserved antique Pasadena estate of H.A. Fuller. Put on your spats and step over the threshold into this 1917-built mansion on the most sought-after western edge of the Pasadena Arroyo, overlooking the Colorado Bridge and the Vista del Arroyo Hotel. 102 years will vanish, and you will experience the elegant life and architectural majesty of this beautiful time capsule designed by renowned architect Reginald Davis Johnson. Truly timeless in design, quality and class. Every main bedroom has a fireplace and bathroom en suite, all the main rooms have fireplaces and high ceilings. The luxury of elegance and convenience. You will be transported; in more ways than a just ride in the vintage elevator. A time and history that is rarely available.
Home purchases by international buyers have dropped by over one third since last year. The average price of a home has also slipped during the same period of April, 2018 to March, 2019. “A confluence of many factors – slower economic growth abroad. Tighter capital controls in China, a stronger U.S. dollar. And a low inventory of homes for sale – contributed to the pullback of foreign buyers,” said Lawrence Yun, NAR chief economist. “However, the magnitude of the decline is quite striking. Implying less confidence in owning a property in the U.S.” Read the rest here
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