October 2011 Homes Sales in California

October 2011 Homes Sales in California

Okay, so it's time once again to get 'the bigger' picture.  These statistics and figures are obtained from DQ News, a real estate data capturer and are really accurate.

According to the DQ News Article, home sales in California for the month of October 2011 were down 3.7% from September and up 4.3% from last October.  so overall, this points to an upswing in home sales over the year.

The median price for a home went down to $240,000 from $249,000 in September which is a 3.6% decrease in value in just a month.  Last October the median price was $256,000 in October of 2010.  The home values in California have been consistently dropping every month for the last 13 months.  Interestingly the bottom value was $221,000 in April, 2009 while the peak for this cycle was $484,000 in early 2007.

Distressed Properties (short sales and foreclosures) continue to make up over half our the current home sales in California. Of the existing homes sold last month 34.1% were foreclosures.  This figure was up from September but down from last year.  The all time high was in Feburary 2009 and was 58.8%. As for short sales, they made up 19.5% of the existing home sales in October.

Buyers are committing to lower and lower mortgage payments as time goes on. The average payment was $924 which is much lower ( I can attest) than the mortgage payments which were being handled early on in this housing bubble. In fact, the $924 is the lowest mortgage payment on record and down 58% from the spring peak of 1989and 66% lower than the current cycles peak in June of 2006.

If you are interested in buying or selling or simply have questions about real estate, please feel free to contact me.  I will be more than happy to assist you!

Warmest Regards,
Linda K. Mayer,
Realtor, Office Manager  
License # 01767321
A Realtor you can Trust!
(626) 824-8927 Cell
(909) 670-2711 Direct
LindaKMayer@live.com
Linda's Website

And the World Will Live As One

And the World Will Live As One

Okay, so can you IMAGINE?  An art exhibit dedicated to John Lennon and Yoko Ono's peace activites - and it's on exhibit here in LA VERNE!  READ ABOUT IT HERE.

The name of the exhibit is "IMAGINE PEACE" and will be on exhibit through December 15, 2011.  The admission is free. It is located at the University of La Verne in the Harris Art Gallery, the only stop for this traveling art exhibit on the West Coast.

The Gallery hours are from 11am to 4PM Monday through Thursday by appointment only.  Make your appointment early so you won't miss this traveling piece of Rock N Roll/War History!

Warmest Regards,
Linda K. Mayer,
Realtor, Office Manager  
License # 01767321
A Realtor you can Trust!
(626) 824-8927 Cell
(909) 670-2711 Direct
LindaKMayer@live.com
Linda's Website

Paying It Forward on Thanksgiving!

Paying It Forward on Thanksgiving!

My momma taught me well.  Nobody should ever be alone on Thanksgiving.  So I thought about some people I have met over the course of the year who may not have a place to have their turkey dinner.  Low and behold, this amazing girl who I love to death took me up on my invitation!

She's about my daughter Lucy's age (25) and part of her family is in Africa and part of them are back east. She and Lucy have already hit it off so it's good for Lucy to have another girl around.  I'm so excited and blessed that she can come and I just know my family will love her, too!

I have also invited a couple of clients who are alone and am waiting for their responses as well.  My take on the whole thing,

NOBODY SHOULD BE ALONE ON THE HOLIDAYS!

Warmest Regards,
Linda K. Mayer,
Realtor, Office Manager  
License # 01767321
A Realtor you can Trust!
(626) 824-8927 Cell
(909) 670-2711 Direct
LindaKMayer@live.com
Linda's Website

Crimes Against Real Estate Professionals and Other People

Crimes Against Real Estate Professionals and Other People

Okay, so we all need to be reminded of safety.  Today my friend wrote on Facebook how she was robbed at gunpoint last night in the parking lot after grocery shopping.  This same thing happened to my mother a few years ago during the Christmas season. However, this blog is not about that, but about what is happening all over the country to real estate professionals during this horrible housing situation where people are losing their homes and just need someone to blame.

So I was reading once again and saw this story on ABC.News.Go about Crimes Happening To Real Estate Professionals. It was a bit scary and prompted me to look for blog on this topic.  Here are two of the best Active Rain has to offer.

David Burrows wrote one on safety.

Tami Vroma writes Safety Tips for Women Realtors.

And remember, during the trying economic times and especially the holiday season, people are getting desperate.  Be aware of your surroundings and know how to protect yourselves!

Warmest Regards,
Linda K. Mayer,
Realtor, Office Manager  
License # 01767321
A Realtor you can Trust!
(626) 824-8927 Cell
(909) 670-2711 Direct
LindaKMayer@live.com
Linda's Website

Six Home Projects That Don't Pay

Six Home Projects That Don't Pay

Okay, so the other day I was reading - I know you find this hard to believe - yet another article about real estate.  Just let me say that it takes quite a bit of reading to stay at the top of your real estate game.  And it takes quite a bit of being able to sift out the good from the bad advice/information/statistics to be a local expert. Anyway, about this article.  It was in Yahoo Finance and was about home improvements that simply do not pay off. 

We, as consumers, have been taught that if you upgrade your home in any way it will pay off when you get around to selling your home.  Well folks, that's no longer the case and hasn't been for a few years now.  There are simply some home improvements that are much too costly to ever get a return on your investment.  So get ready to change the way we think!  (Notice I said WE!)

DISCLAIMER: Now, before we get into a few of them, let me say that in different parts of the country, some of these would not even be considered, such as a home office remodel.  And the costs reflected in the article are on a nationwide scale.

Something that stood out to me was as "UPSCALE MASTER SUITE ADDITION".  Really?  How sad for me as a homeowner as I can just see the Cosmo closet I would have with a whole entire wall for SHOES!  But according to the article, the cost for adding this much square footage to your home while using only the best materials would come to a whopping total of over $232,000.  And in some of our cities right now, you could buy an entire home for that amount which was built recently and probably has dual walk-in closets to begin with.  (That's okay for me because Rich can use the closet in the spare room!)  Bye,Bye Cosmo closet... I'm so sad to see you go!

Another insteresting thing was the ADDITION OF ANOTHER BATHROOM.  The cost varied due to building materials in the Yahoo Finance article from $21,695 to $40,710.  The result either way was a 53 cent return per dollar upon sale of the home.  Really, not a very good deal if the only reason you're doing it is for resale value.

So, my conclusion is that most home improvements I would like to make would be for my own personal use and to my own personal taste.  I won't get a good return for my investment on SOME home improvements and so it simply won't pay off. After all, the next owner may hate the Cosmo closet and want a home office or something different.

You can learn about more home improvement returns by clicking on the article link above.

If you are interested in buying or selling or simply have questions about real estate, please feel free to contact me.  I will be more than happy to assist you!

Warmest Regards,
Linda K. Mayer,
Realtor, Office Manager  
License # 01767321
A Realtor you can Trust!
(626) 824-8927 Cell
(909) 670-2711 Direct
LindaKMayer@live.com
Linda's Website

HIGHS AND LOWS - San Dimas, CA - November 15, 2011

HIGHS AND LOWS - San Dimas, CA - November 15, 2011

Okay, so here is today's report for the San Dimas, CA real estate market.

SINGLE FAMILY RESIDENCE

Lowest Priced Home   $     185,000

Highest Priced Home   $  2,250,000

Average   $     399,900

Active Listings   116

Sold This Week  2

New Listings This Week  5

WHAT THIS MEANS TO YOU:  You now have more information about what's happening with the SAN DIMAS REAL ESTATE MARKET so you can make an informed decision on whether this city is right for you and if the prices fit into your budget.  The last blog had the average price in SAN DIMAS at $425,000 and this week that average has dropped to $399,900.

The other thing you can learn from this information is the saturation rate of the existing active real estate listings.  The saturation rate is determined by the amount of sales in a week and the number of listings available for sale.  So in this case, there are 116 homes being actively marketed by Realtors for sale.  If you divide those 116 by the number of homes sold this week, in this case two, you have your saturation rate.  This means that if you placed your home on the market to sell you can expect it to take a little over 58 weeks to complete the sale of your home.  That is if no other listings come into the real estate marketplace during that time.  And we all know how likely that is, now don't we...  In fact this past week there were five new listings.

HOW THIS AFFECTS YOU:  If your price is competitive and your home is in relatively decent shape you can have it sold in as little as one day or as much or more than the 58 weeks.  It also depends on the agent you are using.  The more aggressive your agent's marketing plan is for your home, the more exposure your home gets and you can see that would have a great impact.  On the other hand, if you use someone who merely puts your home on the MLS and does nothing more, it will most likely take a little more time to sell.  

If you are a buyer, this means you have a large selection to choose from and you have a better chance right now of getting an offer accepted.  Not to mention that the average home price has dropped in the last month making you as they buyer able to afford a better home.

CONDOS AND TOWNHOMES

Lowest   $   165,000

Highest   $ 369,000

Average   $ 269,000

Active Listings   34

Condos Sold This Week  0

New Listings This Week  4

So if the same holds true for CONDOS, then it would take approximately 34 weeks to sell your condo or townhome.  And a buyer has 34 to choose from right now.  It seems that during these trying economic times, people are really not doing much in the way of buying or selling condos.

Warmest Regards,
Linda K. Mayer,
Realtor, Office Manager  
License # 01767321
A Realtor you can Trust!
(626) 824-8927 Cell
(909) 670-2711 Direct
LindaKMayer@live.com
Linda's Website

HIGHS AND LOWS - Claremont, CA - November 15, 2011

HIGHS AND LOWS - Claremont, CA - November 15, 2011

Okay, so here is today's report for the Claremont, CA real estate market.

SINGLE FAMILY RESIDENCE

Lowest Priced Home   $     170,000

Highest Priced Home   $  4,000,000

Average   $     499,000

Active Listings   128

Sold This Week  6

New Listings This Week  8

WHAT THIS MEANS TO YOU:  You now have more information about what's happening with the CLAREMONT REAL ESTATE MARKET so you can make an informed decision on whether this city is right for you and if the prices fit into your budget.  The last blog had the average price in CLAREMONT at $499,000 and this week that average has maintained the same amount, $499,000.

The other thing you can learn from this information is the saturation rate of the existing active real estate listings.  The saturation rate is determined by the amount of sales in a week and the number of listings available for sale.  So in this case, there are 128 homes being actively marketed by Realtors for sale.  If you divide those 128 by the number of homes sold this week, in this case two, you have your saturation rate.  This means that if you placed your home on the market to sell you can expect it to take a little over 21 weeks to complete the sale of your home.  That is if no other listings come into the real estate marketplace during that time.  And we all know how likely that is, now don't we...  In fact this past week there were eight new listings.

HOW THIS AFFECTS YOU:  If your price is competitive and your home is in relatively decent shape you can have it sold in as little as one day or as much or more than the 21 weeks.  It also depends on the agent you are using.  The more aggressive your agent's marketing plan is for your home, the more exposure your home gets and you can see that would have a great impact.  On the other hand, if you use someone who merely puts your home on the MLS and does nothing more, it will most likely take a little more time to sell.  

If you are a buyer, this means you have a large selection to choose from and you have a better chance right now of getting an offer accepted.  

CONDOS AND TOWNHOMES

Lowest   $   199,900

Highest   $ 702,688

Average   $ 309,000

Active Listings   14

Condos Sold This Week  0

New Listings This Week  0

So if the same holds true for CONDOS, then it would take approximately 14 weeks to sell your condo or townhome.  And a buyer has only 14 to choose from right now.  It seems that during these trying economic times, people are really not doing much in the way of buying or selling condos.

Warmest Regards,
Linda K. Mayer,
Realtor, Office Manager  
License # 01767321
A Realtor you can Trust!
(626) 824-8927 Cell
(909) 670-2711 Direct
LindaKMayer@live.com
Linda's Website

The Unveiling of the San Dimas Veteran's Memorial

The Unveiling of the San Dimas Veteran's Memorial

Finally, after seven long years, the vision of San Dimas residents Janellen Graef and Gary Enderle is almost completed just south of downtown San Dimas.  

Hundreds lined the streets for the unveiling of the San Dimas Veteran's Memorial which was unveiled on Vetran's Day 2011.  Although the project was not complete as of yet, it was the signifigance of the day that prompted the early unveiling.

Among those attending were Sherriff Lee Baca, Mayor Cort Morris and many World War II Veterans.  Veterans as young as 35 and as old as 86 were recognized during the special ceremony.

San Dimas Avenue and Commercial Street is where the monument is permanently located.  To read more about this amazing event, please read this article.

Warmest Regards,
Linda K. Mayer,
Realtor, Office Manager  
License # 01767321
A Realtor you can Trust!
(626) 824-8927 Cell
(909) 670-2711 Direct
LindaKMayer@live.com
Linda's Website

HIGHS AND LOWS - LA VERNE, CA - November 14, 2011

HIGHS AND LOWS - LA VERNE, CA - November 14, 2011

Okay, so here is today's report for the La Verne, CA real estate market.

SINGLE FAMILY RESIDENCE

Lowest Priced Home   $     189,000

Highest Priced Home   $  3,500,000

Average   $     449,000

Active Listings   136

Sold This Week  3

New Listings This Week  5

WHAT THIS MEANS TO YOU:  You now have more information about what's happening with the LA VERNE REAL ESTATE MARKET so you can make an informed decision on whether this city is right for you and if the prices fit into your budget.  The last blog had the average price in LA VERNE at $465,000 and this week that average has dropped to $449,000.

The other thing you can learn from this information is the saturation rate of the existing active real estate listings.  The saturation rate is determined by the amount of sales in a week and the number of listings available for sale.  So in this case, there are 136 homes being actively marketed by Realtors for sale.  If you divide those 136 by the number of homes sold this week, in this case three, you have your saturation rate.  This means that if you placed your home on the market to sell you can expect it to take a little over 45 weeks to complete the sale of your home.  That is if no other listings come into the real estate marketplace during that time.  And we all know how likely that is, now don't we...  In fact this past week there were five new listings.

HOW THIS AFFECTS YOU:  If your price is competitive and your home is in relatively decent shape you can have it sold in as little as one day or as much or more than the 45 weeks.  It also depends on the agent you are using.  The more aggressive your agent's marketing plan is for your home, the more exposure your home gets and you can see that would have a great impact.  On the other hand, if you use someone who merely puts your home on the MLS and does nothing more, it will most likely take a little more time to sell.  

If you are a buyer, this means you have a large selection to choose from and you have a better chance right now of getting an offer accepted.  Not to mention that the average home price has dropped in the last month making you as they buyer able to afford a better home.

CONDOS AND TOWNHOMES

Lowest   $   73,000

Highest   $ 339,950

Average   $ 155,000

Active Listings   14

Condos Sold This Week  2

New Listings This Week  0

So if the same holds true for CONDOS, then it would take approximately 7 weeks to sell your condo or townhome.  And a buyer only has only 7 to choose from right now.  It seems that during these trying economic times, people are really not doing much in the way of buying or selling condos.

If you are interested in buying or selling or simply have questions about real estate, please feel free to contact me.  I will be more than happy to assist you!

Warmest Regards,
Linda K. Mayer,
Realtor, Office Manager  
License # 01767321
A Realtor you can Trust!
(626) 824-8927 Cell
(909) 670-2711 Direct
LindaKMayer@live.com
Linda's Website

A Special Tribute To My Vets - Happy Veteran's Day

A Special Tribute To My Vets - Happy Veteran's Day

 

I read a blog by Mike Cooper today and my mind started racing. This is for all the service members out there who put their lives on the line for my life each and every day.  But I need to pay special tribute to some special Vets.

 

I'd like to start with my cousin who was in the Army for an entire career.  He recently retired and is living out a civillian life with his wife, six kids and one grandson.  I can't thank him enough for everything he had to learn, for every one of his three trips overseas in combat.

 

My son-in-law was on the air craft carrier the MIDWAY during the Persian Gulf War which is now a museum complete with planes in San Diego, California.  

 

My amazing adopted son Bill is in North Dakota at the Air Force Base there.  Happy Veteran's Day, Mr. Bill!  You make me proud every day!  Come home soon so we can have Christmas in our pajamas in the rain again...

 

To all the brave friends of my kids who have selflessly gone over in all branches and all services THANK YOU.  

 

The list goes on and doesn't stop.  However, I have to take a minute to pay tribute to someone from my town of LA VERNE who also happens to be the cousin of my friend Becky Compton.  Cory Hiltz was killed in action on June 28, 2007.  He was only 20 years old.

 

I don't think I could ever express adequately how much your service - your fighting for our freedoms - means to me personally and to us as a nation.  Your sacrifice willnever be forgotten.

Warmest Regards,
Linda K. Mayer,
Realtor, Office Manager  
License # 01767321
A Realtor you can Trust!
(626) 824-8927 Cell
(909) 670-2711 Direct
LindaKMayer@live.com
Linda's Website

Claremont Real Estate Market Watch - October 28-November 3, 2011

Claremont Real Estate Market Watch - October 28-November 3, 2011

 

 

Market Watch

New Listing (6)
Price Change (12)
Back On Market (2)
Backup Offer (4)
Expired (7)
Pending (4)
Sold (7)

 

Okay, so it's been a bit since I wrote one of these - an almost three-week vacation will do that to you!  So, to get back in the swing of things, here's the Claremont Real Estate Information for the last week.

There are only 6 new listings that are in the the City of Claremont.  This coupled with the fact that 7 homes were sold would tell one that the housing market inClaremont is starting to pick up!  Obviously more homes are making it through the sale process and more families are getting to realize the "American Dream".

There are 4 pending homes - homes that have gone into escrow and 2 that have moved into back up status, meaning that they are working with one offer but are taking back up offers in case the first one doesn't work out.  This is a must in today's volatile real estate marketplace.  In fact I had one in escrow because the first buyer back out of the deal!  A good agent will take these offers so the seller doesn't waste a lot of time on one and then have to start over to get that property sold.

I have to write yet another paragraph on pricing. I know it's tough in today's market, but 12 price changes is quite a lot.  To be fair, banks are doing some of the price changes, raising and lowering prices according to the BPO's they receive or the investor input.  This only affects the REO's and short sale properties though. However, I am still seeing agents making mistakes on the pricing from the very beginning.  It matters from the start because it has been shownin a study I saw that a house will sell within the first ten days.  So you can see, if you lose those first ten days with a 'trial' price, you lose out on a good chunk of what will undoubtedly be the highest and best offer you will receive on your home.

If you are interested in buying or selling or simply have questions about real estate, please feel free to contact me.  I will be more than happy to assist you!

**All information is taken from the IMRMLS.

Warmest Regards,
Linda K. Mayer,
Realtor, Office Manager  
License # 01767321
A Realtor you can Trust!
(626) 824-8927 Cell
(909) 670-2711 Direct
LindaKMayer@live.com
Linda's Website

La Verne Real Estate Market Watch - October 28-November 3, 2011

La Verne Real Estate Market Watch - October 28-November 3, 2011

 

 

Market Watch

New Listing (3)
Price Change (18)
Back On Market (4)
Backup Offer (3)
Expired (3)
Pending (4)
Sold (8)

 

Okay, so it's been a bit since I wrote one of these - an almost three-week vacation will do that to you!  So, to get back in the swing of things, here's the La Verne Real Estate Information for the last week.

There are only 3 new listings that are in the the City of La Verne.  This coupled with the fact that 8 homes were sold would tell one that the housing market in La Verne is starting to pick up!  Obviously more homes are making it through the sale process and more families are getting to realize the "American Dream".

There are 4 pending homes - homes that have gone into escrow and 3 that have moved into back up status, meaning that they are working with one offer but are taking back up offers in case the first one doesn't work out.  This is a must in today's volatile real estate marketplace.  In fact I had one in escrow because the first buyer back out of the deal!  A good agent will take these offers so the seller doesn't waste a lot of time on one and then have to start over to get that property sold.

I have to write yet another paragraph on pricing. I know it's tough in today's market, but 18 price changes is quite a lot.  To be fair, banks are doing some of the price changes, raising and lowering prices according to the BPO's they receive or the investor input.  This only affects the REO's and short sale properties though. However, I am still seeing agents making mistakes on the pricing from the very beginning.  It matters from the start because it has been shown in a study I saw that a house will sell within the first ten days.  So you can see, if you lose those first ten days with a 'trial' price, you lose out on a good chunk of what will undoubtedly be the highest and best offer you will receive on your home.

Warmest Regards,

Linda K. Mayer,

Realtor, Office Manager  

License # 01767321

A Realtor you can Trust!

(626) 824-8927 Cell

(909) 670-2711 Direct

LindaKMayer@live.com

Linda's Website