Home Sales Up in July 2008 - 09/21/08 03:43 PM
According to the newest sales report by California Association of Realtors, the number of home sold this July increased 43.3% comparing to July 2007.While sales volume increased, the median price of an existing single-family detached home in California dropped 40.3% from $587,560 for July 2007 to $350,760 for July 2008. Why are we seeing an increase in sales but decrease in price? According to C.A.R. President William E. Brown, "Deep-discounted, distressed sales continue to drive volume in many regions of the state."Since lenders are dumping foreclosed properties back to the market at a huge 10% to 30% discount, we are seeing … (0 comments)

Great Selection of Rentals - 09/20/08 12:33 PM
In the past years, we are seeing about 10 to 15 properties for rent per month in Diamond Bar and Chino Hills in the MLS database. As of 09/20/08, Diamond Bar has 67 properties for rent and Chino Hills has 52 houses for rent in the local MLS.Why is it that we are seeing 4 to 5 times more available rentals on the market this year? Here are 3 reasons:1. A lot of the sellers turned renters went back to purchase a house since house price dropped 30% to 40% in the past one year.2. Due to the low housing price, … (0 comments)

How Much To Offer On A Property? - 09/04/08 10:59 PM
Since it is a buyer's market now, the most logical way is to make an offer based on appraisal value.Appraisal value is derived from comparing similar properties recently sold in the same area within past 6 months. You can obtain estimated instant valuation at Zillows and Yahoo, here's the links:www.zillow.com
realestate.yahoo.com/HomevaluesSince value is only an opinion, most likely you will get different numbers. However, they will give you a good ball park idea of it's worth. Depending on how much you like the house and number of bids on the property, you can consult with your agent on how much … (0 comments)

August Market Reprot - 09/01/08 01:22 PM
The following is a list of home sales in neighboring cities.
Number of homes for sale remains almost the same as last month. Sales activities went up comparing to last month.
… (0 comments)