Are 1 Bedroom Condos a Good Investment?

In most suburbs, real estate agents usually counsel clients to buy 2 bedrooms. However, Pasadena is not most suburbs. There are plenty of young professionals who don’t mind purchasing one bedroom units.

When we sold the Gardens on Hill in 2007, the one bedroom units were the most popular units. We sold out within the first month and we wished that we had more one bedroom condos to sell because there is definitely a demand for these types of units.

There are young professionals out there who would prefer not to have a roommate and who like Pasadena and all of the benefits of living in Pasadena. After all, who wouldn’t like the cosmopolitan nature of Pasadena, but without the commute and congestion of the west side?

To find out more about more about condos or real estate in Pasadena please visit our agent web site at http://www.DavidandPei.com or you can call us 626.922.4268 for a no obligation tour of Pasadena neighborhoods and its fantastic new construction and resale condos and townhouses.

Definition of a Loft vs Condo

One of the most common questions that we get asked is “what is a loft?”

The strictest definition of a loft is a reused residential space that was originally used for some other purpose, such as commercial or warehouse. The Ostrich Lofts in South Pasadena are technically lofts because they were originally an ostrich farm. And it was an adaptive reuse of warehouse space.

The Raymond Lofts in Old Town Pasadena were partially adaptive reuse. They completely gutted the interior of the project leaving just the exterior shell. The developer literally rebuild everything and then added levels that were not there before. Yet I would argue they are lofts.

Pasadena is beginning to have new loft style condos. They aren’t truly lofts because they are not adaptive reuse. Also, there are usually partitions between the bedrooms and the living areas. Usually lofts are big open spaces that have can be used for kitchen, dining room, office, and bedroom. A pseudo loft are the Cinema Lofts in Pasadena since they recently opened. They are newly built from the ground up and have open spaces. But there is a division between the bedroom and living areas, although the kitchen, living and dining areas are completely open.

To find out more about more about condos or real estate in Pasadena please visit our agent web site at http://www.DavidandPei.com or you can call us 626.922.4268 for a no obligation tour of Pasadena neighborhoods and its fantastic new construction and resale condos and townhouses.

FHA Condos – Is Your Complex Approved?

FHA also does cover condos and townhouses for Pasadena real estate. If your complex is approved, then buyers can write up an offer without having to worry about inspections for the condition of the complex. It saves a lot of headache and allows you to skip some steps.

You can check online to see if your condo or townhouse is available by doing the following:
1. Log on to HUD website at http://www.hud.gov/
2. Click on Lenders under the Housing Industry header
3. Select Condominium Projects under Work Online header
4. Enter the pertinent info to determine if the project is approved.

Call or e-mail us if you have any questions about FHA approval.

To find out more about more about condos or real estate in Pasadena please visit our agent web site at http://www.DavidandPei.com or you can call us 626.922.4268 for a no obligation tour of Pasadena neighborhoods and its fantastic new construction and resale condos and townhouses.