San Dimas Real Estate Market Watch, December 3-9, 2011

San Dimas Real Estate Market Watch, December 3-9, 2011

Market Watch

New Listing (9)
Price Change (7)
Back On Market (6)
Backup Offer (2)
Expired (5)
Pending (4)
Sold (6)

Okay, so here we go with the last week's SAN DIMAS REAL ESTATE MARKET WATCH.  It has the statistics and explainations from the last seven days activity in real estate.
 It seems that the confidence of home sellers is coming back to the real estate marketplace.  This is shown by the 9 new listings that are new to the City of San Dimas.  This coupled with the fact that 6 homes were sold would tell one that the housing market in San Dimas is starting to pick up!

There are 4 pending homes - homes that have gone into escrow and 6 that have gone into backup status, meaning they are working with an offer but taking backup offers in case the first one doesn't work out for some reason.  This is a must in today's volatile real estate marketplace.  A good agent will take backup offers so that the seller doesn't waste a lot of time on one offer only to have the buyer pull out at the last minute or not have the loan work out.  If they didn't they would have to start all over from scratch and wait for another offer. 

Since there are 7 price changes I have to write yet another paragraph on pricing.  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.  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.

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

San Dimas Real Estate Market Watch - October 28-November 3, 2011

San Dimas Real Estate Market Watch - October 28-November 3, 2011

Market Watch

New Listing (12)

Price Change (10)

Back On Market (1)

Backup Offer (7)

Expired (3)

Pending (3)

Sold (13)

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 San Dimas Real Estate Information for the last week.

It seems that the confidence of home sellers is coming back to the real estate marketplace.  This is shown by the 12 new listings that are new to the City of San Dimas.  This coupled with the fact that 13 homes were sold would tell one that the housing market in San Dimas is starting to pick up!

There are 3 pending homes - homes that have gone into escrow and 7 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 ten 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.  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

San Dimas Real Estate Market Watch - September 24-30, 2011

SAN DIMAS REAL ESTATE MARKET WATCH, SEPTEMBER 24-30, 2011 

Market Watch

New Listing (5)
Price Change (13)
Back On Market (3)
Backup Offer (3)
Expired (3)
Pending (5)
Sold (7)

 

Okay, so here flows the information.  Five new listings with seven sold.  Looks like the inventory or homes coming into the market are slowing down while the actual selling is speeding up a bit.  Good for SAN DIMAS!  As a buyer this means that your choices in SAN DIMAS are narrowing a bit.  It also means that the banks appear to be moving along on selling those short sales and Bank owned homes.  Can I say it?  It's about time!

In the City of SAN DIMAS this past week, there were 13 price changes.  It's tough when a bank takes a long time to make up it's mind about sales.  The prices locally are continuing to change and sometimes that means price changes on the homes.  However, if you have a really good agent who knows how to price properly from the beginning, it should help you out quite a bit.  It also helps if they know how to get through a short sale, and every bank is different.  Those should be questions you ask your agent right from the get-go.

We have discussed "back on the market" before, but I think everyone could use a refresher on this subject.  These three homes have either been labeled as pending which means it was entered into escrow, or as back up offers only which means it had an offer that the bank was thinking about.  Like we have said previously, the bank owned and short sales can take a few months.  This means that sometimes a buyer will cancel his offer or the bank can turn down the offer.  All this time leads to homes being changed to "back on the market".

There are three homes in backup status and five pending homes.  This could very well lead to eight new families shortly moving into their new home.  This is always exciting!

  And just a reminder,  this weekend (October 1 and 2) is the annual SAN DIMAS RODEO AND WESTERN DAYS.  You can read about it here.


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.


SAN DIMAS LIVING! 

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

San Dimas Real Estate Market Watch - September 2-7 2011

San Dimas Real Estate Market Watch - September 2-7 2011

Market Watch

New Listing (10)
Price Change (5)
Back On Market (4)
Backup Offer (0)
Expired (5)
Pending (4)
Sold (4)

Okay, so better late than never - here is this week's SAN DIMAS MARKET WATCH.  Not bad for a holiday week!


Ten new listings means that people are gaining confidence in the SAN DIMAS REAL ESTATE MARKET.  And it seems to me to be picking up as well.  And four have actually made it through the sale process and become closed sale.  This is also good news, especially for a holiday weekend.


 Pending homes mean four homes are now in escrow and on their way to becoming closed sales.  There are also five expired listings which means that the home did not sell in the time allotted by the seller.  This could also mean that the house did not get approved for short sale and the bank is moving to foreclose.  There could be many reasons for an expired listing.



And four more are what's called "back on the market."  Let me explain this to you.  I believe that homes are going back on the market due to the short sale process and the time it is taking for bank's to finally get around to making a decision.  It can take anywhere from 30 days to 120 days to get an approval from the bank to go ahead with a short sale.  Now, let me say that this is a definite improvement from the "early days" of this real estate slump.  In those days (Ya, like it was 50 yrs ago, right?!!?) some short sales were taking up to a year and sometimes even longer to go through. So, needless to say, if you are a buyer and your offer is accepted by the seller (the homeowner) this does not mean that the sale will necessarily go through.  This means that the offer is submitted to the bank for an approval.  The bank may take up to four months (yes still) to give approval or denial.  So instead of wasting time waiting for a specific home, buyers are putting in multiple offers.  If one home gets approval first, the buyer then backs out of other offers and therefore the property goes "back on the market". Of course, there are other causes, like loans that were denied, etc., but the main cause right now seems to be those crazy short sales.
  
And only five price changes, we are definitely improving in this arena!  This si exciting to me as I have been harping commenting on this for weeks now.


And, as always, if you have real estate questions or need to buy or sell a home, please feel free to call me, a local expert.  I will be honored 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

SAN DIMAS REAL ESTATE MARKET WATCH - AUGUST 6-12, 2011

SAN DIMAS REAL ESTATE MARKET WATCH - AUGUST 6-12, 2011

Market Watch

New Listing (14)
Price Change (16)
Back On Market (5)
Backup Offer (2)
Expired (4)
Pending (5)
Sold (7)

Okay, so I truly thought that SAN DIMAS would be as slow as some of the other neighboring cities.  I reasoned that maybe people are getting a bit nervous because of the issues with the federal budget and the downgrade in our nation's credit rating.  The financial institutions have been hit as well and I think people are unsure of what will come of all this in the near future.  It makes sense for yet another slow down, if you think about it logically.  (YA, metrying to be logical!)


Anyway, there were 14 new listings on the market.  Moving along at a great clip.  Seven have sold which means the loans are getting closed still which is extremely important.  Between the pendings (5) and the back ups (2) seven are going into escrow.

Now for the regular issue.  I was reading another persons blog who I highly respect. She was mentioning that she believes pricing is subjective - house by house.  Now this is a true statement, some are in better shape than others, some are more upgraded than others, etc.  But I have found that the only value that matters, especially if a loan is involved, is the BPO or the appraisal value.  Appraiser's add very little value for upgrades.  Their main focus is size, bedrooms, lot size and so on.  An extra bathroom will only add about $500 in value and so on.  So you can see, that the values change very little from house to house.


So, again I maintain that the homes MUST BE PRICED RIGHT from the get-go.  A good agent will know how to get that job done and the house will appraise for the sale price.  This week, there were 16 price changes.  One of the neighboring cities had the usual number cut in half, so I thought we were getting somewhere with this.  Apparently I was wrong.  (Yep, it happens, I can be wrong!  Just don't tell my husband!)


And, as always, if you have real estate questions or need some help with selling or buying your home, turn to a local expert.  Give me a call and I will be more than honored to assist you.


SAN DIMAS LIVING! 

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

SAN DIMAS REAL ESTATE MARKET WATCH - JULY 23-29, 2011

SAN DIMAS REAL ESTATE MARKET WATCH - JULY 23-29, 2011  

 

Market Watch

New Listing (6)
Price Change (17)
Back On Market (2)
Backup Offer (6)
Expired (1)
Pending (4)
Sold (8)

Okay, I have made a decision.  I know this shocks and surprises you (LOL NOW!) but I actually have.  The HIGHS AND LOWS series that I started will be seperate blogs because there was so much content.  It would be way too long if it was all in the same blog.  So Friday's will be the same REAL ESTATE MARKET WATCH and the beginning of the week will be the HIGHS AND LOWS.

So here we go again, and let's start with the most important thing - THE PRICING!  Seriously, when will agents out there learn their jobs?  THE MOST IMPORTANT THING RIGHT NOW IS PRICE.  If it's priced too high, a good agent will know it's not a good deal for their client and NOT SHOW IT.  If it's priced too low, well, you know what happens there, the seller will be upset in the end, the bank will not give an okay to the price, etc. Same result, no selling the house. In one of my previous entries, I posted a blog from my good friend Ilona Matteson which illustrates how most homes are selling within the first two weeks.  Why would you waste six months or more on a listing that missed the boat from the start.  And after that time, your home wouldn't be worth as much as when you started.  After all, can you afford to lose money, possibly thousands, due to a bad agent and the declining market?

That being said, AGAIN  (I'm such a nagger...) let's move on.  There are six new listings and two back on the market.  That's not so bad as far as the inventory goes.  Six in backup status and four in pending.  Those ten should be through escrow and sold within the next 30-45 days and have new families.  And eight have sold.  This is another week where the inventory coming into the real estate market is less than the sold homes going off of the market.  I just wish the sales were closing faster so we can get out of this culture of short-sales and bank owned properties!  Soon, I think!

As always, call me for your real estate questions and any help you may need in navigating the Southern California Real Estate Market.

Warmest Regards,
Linda K. Mayer, 
Realtor, Office Manager
A Realtor you can Trust!
(626) 824-8927 Cell

SAN DIMAS REAL ESTATE MARKET WATCH - JULY 16-22, 2011

SAN DIMAS REAL ESTATE MARKET WATCH - JULY 16-22, 2011  

SAN DIMAS REAL ESTATE MARKET WATCH JULY 16-22, 2011 

Market Watch

New Listing (11)
Price Change (12)
Back On Market (4)
Backup Offer (5)
Expired (1)
Pending (4)
Sold (6)

Okay, so this week in SAN DIMAS is moving along pretty well!  There are eleven new listings, so people are still selling and moving.  Maybe one of those eleven will be the house for you!

So, let's start with the PRICE CHANGES.  There are a tremendous amount of PRICE CHANGES.  Twelve is  quite a few for such a short amount of time.  As always, I caution you to make absolutely sure that you use a Realtor who KNOWShow to price right the first time!  Naturally, I do or I wouldn't be stressing the issue so much!  LOL  But seriously I know how to do a proper CMA with great comparables to your home.  I can also run comparables from another site that the appraisers go to so you can see a close estimate of what the house will appraise for.  (No, I am not an appraiser, nor do I claim to be, but their site is fantastic for being dead on.)  Gee, maybe I should write a blog on that subject - More to come!

On to BACK UP OFFERS - There are five homes that went into backup status. A BACK UP OFFER is when they already have an offer they are working on, but they are taking others just in case the first offer doesn't happen to go through.  This is really smart for Realtors to do, especially when working with short sales or bank owned properties.  Short sales and bank owned properties can take a longer amount of time and some buyers really don't have the patience and drop their offer.  It's a shame, really, but that's the reality of the situation.

Four are actually PENDING - This means that the offer has been accepted by all parties and has moved into the escrow phase.  Hopefully these will get a new family within a month or so. And six homes have made it all the way through the sale process and have become SOLD.  Four properties have fallen out of escrow and are now back on the market.

That's about it for this week.  As always you can contact me with questions or for all of your SOUTHERN CALIFORNIA REAL ESTATE NEEDS.

   

 SAN DIMAS LIVING!

Warmest Regards,
Linda K. Mayer, 
Realtor, Office Manager
A Realtor you can Trust!
(626) 824-8927 Cell

SAN DIMAS REAL ESTATE MARKET WATCH - JULY 9-15, 2011

Market Watch

New Listing (11)
Price Change (13)
Back On Market (7)
Backup Offer (7)
Expired (2)
Pending (7)
Sold (8)

Okay, so, here is the SAN DIMAS REAL ESTATE MARKET WATCH for this week. There were eight closed sales.  That's good as it looks like more homes in SAN DIMAS are actually getting new families.  But when you consider that there are seven back on the market and eleven new listings, that's not really a lot.  This means that more homes have been put into the inventory.  And the inventory is not selling at the same pace as they are coming into the home market.

And once again, I cannot say enough about using a Realtor who prices their home correctly - THE FIRST TIME!  I reblogged a segment written by my friend Ilona Matteson this last week that spoke about the absolute need to price your home right from the get go.  She does graphs and charts and basically shows in a more scientific manner than me just how many homes actually sell within the first two weeks.  She also shows how much money you can lose as the seller by not pricing your home right. You should read more about it.  Here is the link.  Seriously, still with the 13 price changes?  That's way too many!

So, if you're thinking of buying or selling in SAN DIMAS, please give me a call.  I can help you with all of your Southern California Real Estate Needs!

SAN DIMAS LIVING!

Warmest Regards,
Linda K. Mayer,
A Realtor you can Trust!
(626) 824-8927 Cell

SAN DIMAS REAL ESTATE MARKET WATCH, JULY 2-8, 2011

SAN DIMAS REAL ESTATE MARKET WATCH, JULY 2-8, 2011

Market Watch

New Listing (16)
Price Change (15)
Back On Market (3)
Backup Offer (2)
Expired (5)
Pending (5)
Sold (4)

Okay, so I was on vacation last week and was not able to do our weekly market watch.  So I apologize for being away, but we had a good time on our much-needed holiday!

Let's start out with new listings, shall we?  Sixteen is a lot of new real estate listings coming into the marketplace, especially when only four homes actually closed escrow and have new families now.  There are seven pending and back-up offers which means that those seveescrow last week and are back on the real estate market.

Then there's the recurring subject of the price changes.  16 OF THEM!  Once again, I can't stress enough that you need to use an agent who knows how toproperly price a home for sale.  You can always find an agent who will tell you what you want to hear and price it your way.  But that just leads to more time on the market and price reduction after price reduction.  I also heard a statistic that most homes are sold within the first twelve days right now.  So if you price it too high, you're going to miss the boat.  And really, with the market declining, can you afford to lose even more money than if you had just priced it right the first time?

With all that being said, NOW is the perfect time to buy or sell!  Buyers get the added benefit of lower prices and even though the seller may sell at a lower price, the new home they purchase will also be at that lowered amount, so it kind of evens out in the end.

Please feel free to call me with all our your Southern California Real Estate needs.  I will be more than happy to help!

**All information is taken from the IMRMLS.