Why It is STILL a Sellers Market in San Dimas, CA

Okay, so the last statistics have proven to you that it is definitely a SELLERS MARKET.  But the trend is continuing and even growing here in San Dimas, CA.  

Last week, there were a total of 5 new listings.  Last time there were 6 new listings which is good for sellers.  Less inventory means higher prices.  When you compare this week's 5 to the 6 sold homes you can see that there aren't going to be many homes on the market for very long.  

What does this mean to you if you want to sell?  This means that your home can be sold in a short period of time and many times will sell for more than the asking price.  Naturally, this doesn't mean that you can price your home high and expect the same results.  But that's another whole blog.  This whole environment can cause bidding wars which can make the price of your home increase.

There were 4 price changes, usually this means lowering of the asking price and 3 more have gone into back-up status.  Back-up status means that the home has an accepted offer but for some reason they are preparing in case the buyer backs out, or for some other reason like a short sale waiting on the bank's response.

When you figure in the 2 that went pending (into escrow), that's a whole lot more properties than came on the market this week.  

So, in recap, 2 pending, 6 sold, and 3 into back-up for a total of 11 homes off the market.  When you compare that to the measly 5 that came into the market, you can easily see why this is a great time to get top dollar for your home.

If you are thinking of selling, or buying for that matter, please always contact a local expert for the area so they know how to advise you.  All real estate is local down to the neighborhood still and so you need someone who knows what's what.  I stay on top of the cities I serve (such as San Dimas, CA) as you can see and will be more than happy to help you with your real estate needs whether that be to answer any question you may have or give you a free home valuation. And ALWAYS go with a Realtor you can trust!

Serving the 210 Corridor - the cities of Monrovia, Duarte, Azusa, Glendora, San Dimas, La Verne, Claremont, Upland, Pomona, Chino, Chino Hills, Rancho Cucamonga and Fontana - wherever the need arises.

Warmest Regards,
Linda K. Mayer, Realtor

License # 01767321

A Realtor you can Trust!

(626) 824-8927 Cell

LindaKMayer@live.com

Linda's Website

Reverse For Purchase - New and Improved

Reverse For Purchase - New and Improved

Okay, so we all know seniors (age 62 or over) who want or need to sell their current home. Maybe they have a two-story and can no longer handle the stairs, maybe they want to be closer to their kids or grandkids; maybe their house is way too big; maybe they want to be with other active seniors or possibly they can no longer afford the mortgage... many, many reasons this could be happening.

But since they happen to be a senior, they are on a fixed income (usually) or have other factors that would not make them NOT a good candidate for a new home loan, plus they are just not sure about making the new payments.

I have GOOD NEWS for both the seniors and their realtors! The "Reverse for Purchase" can come into play!  Here's how it works...

Step One: Mr. and Mrs. Stiles meet with their Realtor and place their home on the market. 

Step Two: Mr. and Mrs. Stiles start looking for a new home to purchase that will fit their needs.  

Step Three: The Realtor introduces Mr. and Mrs. Stiles to a Reverse Mortgage Consultant who explains the process to them.  

Step Four: Their home sells for $300,000!

Here's how it looks on paper:

New Purchase Price                   $400,000**

Reverse Amount                       $230,000**

Cash Needed to Close                $170,000**

The cash can come from the proceeds of the sale of their previous home or other sources and the rest can go into their own pocket.  And because of the Reverse Mortgage on the new home, they will never have a payment* until they can no longer live in the home or they pass away.

You have heard about investors getting all the homes on the market because they are offering cash.  Well, a Reverse for Purchase is just like a cash offer.  There is no qualifying - you must simply be 62 or older and have some equity in your existing home or cash on hand for the new purchase.  Great deal, right!

And everybody's happy!

So if you know of a senior who needs some financial help, needs to move or has some questions about the new and improved Reverse Mortgage Process, please don't hesitate to contact me by phone or email.  I would love to help!

*House must be kept up to FHA standards and all taxes and insurance must be kept up to date.

**Amounts are approximate

Serving the 210 Corridor - the cities of Monrovia, Duarte, Azusa, Glendora, San Dimas, La Verne, Claremont, Upland, Pomona, Chino, Chino Hills, Rancho Cucamonga and Fontana - wherever the need arises.

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

It's as Simple As Supply and Demand

It's as Simple As Supply and Demand

Okay, so I wrote about stats in some of my local cities last week.

Why Is Now The Time To SELL Your Home in La Verne, CA?

Why Is Now The Time To Sell You Home in San Dimas, CA?

Why Is Now The Time To Sell You Home in Glendora, CA?

Why Is Now The Time To Sell You Home in Claremont, CA?

And in all of those posts, the inventory was less than two weeks supply.  So as I read this article today about the future of housing values, I had to post the link.

The best part for home sellers is their loose guideline.  It states that for a 1-4 month supply of homes it is definitely a sellers market.  And as you can see from the city blogs, it is more than that!  Sellers can expect top dollar with less than two weeks supply!

Five to six months supply is a "balanced" market according to the article.  And as you can tell, we are quite a long way from being balanced.  And they say a buyers market is when there are more than seven months supply of homes in the housing market.

I stay on top of my local cities and know the area really well.  So if you are looking to buy or sell a home, choose me, a local expert.  I will be happy to answer all of your questions and take care of your needs.  And always pick A Realtor You Can Trust.

Serving the 210 Corridor - the cities of Monrovia, Duarte, Azusa, Glendora, San Dimas, La Verne, Claremont, Upland, Pomona, Chino, Chino Hills, Rancho Cucamonga and Fontana - wherever the need arises.

Warmest Regards,
Linda K. Mayer, Realtor

License # 01767321

A Realtor you can Trust!

(626) 824-8927 Cell

LindaKMayer@live.com

Linda's Website

Another Satisfied Customer in Tujunga

Another Satisfied Customer in Tujunga

Okay, so I am happy to report that my home for sale in Tujunga just closed.  When I listed it, I told the seller it would sell for $550,000 but we should put it a tad bit higher so the buyer thinks they are getting a deal.  We marked it up to $555,000.  

Low and behold, it did sell for exactly $550,000 and appraised, too!  Of course, that's what you get when you have a listing agent who knows how to price.  Apparently, I am getting good at that - pricing.  The last four homes I have sold have been within a day or two of listing.  The longest one on the market was this Tujunga beauty.  That's because there was a death (natural causes) in the property last year.  Even the spectacular views couldn't help the time frame on this one.

(Yes, it was a cloudy day in SoCAL)

And so I am here to gladly report that the home closed, the buyers are all moved in and doing some remodeling.  And my seller, well, he moved to the place of his dreams - Palm Springs!

So if you happen to be thinking of selling your home, please don't hesitate to call me for a free home evaluation.  I will be more than happy to answer any questions and help you get top dollar for your home.

Serving the 210 Corridor - the cities of Monrovia, Duarte, Azusa, Glendora, San Dimas, La Verne, Claremont, Upland, Pomona, Chino, Chino Hills, Rancho Cucamonga and Fontana - wherever the need arisis!

Warmest Regards,
Linda K. Mayer, Realtor

License # 01767321

A Realtor you can Trust!

(626) 824-8927 Cell

LindaKMayer@live.com

Linda's Website

Reliable Senior Help, Part 1 Reverse Mortgage - New and Improved

Reliable Senior Help, Part 1

Reverse Mortgage - New and Improved

Okay, so I am going to break apart the myths surrounding Reverse Mortgages and this is the first in a series.  Out with the old and in with the new!  In this series I will address issues such as, "I heard that the bank owns your house if you have a Reverse Mortgage" and, "I want to leave something for my heirs".  I will also address why it is important that there is no qualifying especially in a Reverse For Purchase.

What is a Reverse Mortgage? 

A Reverse Mortgage is a way for seniors, 62 or older, to take a portion of their equity from the home to use in any way they see fit.

For instance, if someone you know has trouble paying their bills each month.  Possibly the can no longer make their mortgage payment.  Maybe they want to take their family on a cruise around the world. And then again, maybe they need help with health care expenses or simply in-home care expenses.

So, how can I get the money out in a Reverse Mortgage?

There are three ways to take part of the equity out of your home!  First, you can receive monthly payments. Secondly you can receive a lump sum. And thirdly you can get a line of credit. There is also a Reverse For Purchase which is amazing for people wishing to relocate or downsize.

I belong to a national group of Realtors.  So if you are relocating to be near a family member, or just to a new place, I can refer you to someone to help you navigate the process in that area.  And then you will always know you have an honest and reliable Realtor wherever you go!

How do I know if I qualify for a Reverse Mortgage?

There is technically no qualifying.  All you have to do is be 62 years or older and have equity in your home.

Does this matter to you?  Yes!  We have all heard the stories about how the investors with cash offers are buying up all the properties and people with loans are having to write many, many offers.  Because there is no qualifying, a Reverse for Purchase is just like a cash offer!  This puts you as the buyer at the top of the list and hopefully your first offer will be accepted!

How do I know how much money I can get from a Reverse Mortgage?

The amount of money you can get from a Reverse Mortgage depends on two things; Your age and the amount of equity you have in your home.

Why do you care about me as a senior?  You aren't even close to my age.

I grew up with a father who was nearly 30 years older than my mother.  When I was born, he was already almost 59 years old.  And because of this, I grew up with many seniors and am comfortable with them.  Not only that, because my dad was older, I knew from a very young age about the people trying to take advantage of seniors.  I feel protective of them.  I would want EVERY senior I deal with to have honest and reliable dealings and have the all information to make an informed decision about what is best for them and their family. 

Sometimes, a Reverse Mortgage is not the best thing for you or your family member.  This will be discovered as the questions about what you are trying to accomplish come to light.  Sometimes there are better options.  And as in the case of my parents, they worked hard for what they have.  Isn't it time that they were properly taken care of?

A bit of advice, always go to someone you know and trust.  Again, with the amount of schemers trying to take advantage of seniors and their heirs at this time, you can never be too careful.  I always try to be a resource for many issues that are problems with seniors.  And always, I try to be A Realtor You Can Trust. 

If you have more questions or need help with a loved one, please don't hesitate to contact me.  No question is too small, and I am never too busy to help you out.

Serving the 210 Corridor - the cities of Monrovia, Duarte, Azusa, Glendora, San Dimas, La Verne, Claremont, Upland, Pomona, Chino, Chino Hills, Rancho Cucamonga and Fontana.

Warmest Regards,
Linda K. Mayer, Realtor

License # 01767321

A Realtor you can Trust!

(626) 824-8927 Cell

LindaKMayer@live.com

Linda's Website

Why Is Now The Time To SELL Your Home In La Verne, CA?

Why Is Now The Time To SELL Your Home In La Verne, CA?

Okay, so for the past few years, it has definitely been a "buyers market".  But with the low, low inventory right now, we are back to the times of bidding wars when things were moving and shaking.  Case in point; the last seven days of movement in La Verne, CA.

Last week, there were a total of 7 new listings and when you compare that to the 7 sold homes you can see that there aren't going to be many homes on the market for very long.  

What does this mean to you if you want to sell?  This means that your home can be sold in a short period of time and many times will sell for more than the asking price.  Naturally, this doesn't mean that you can price your home high and expect the same results.  But that's another whole blog.

There were two price changes, usually this means lowering of the asking price and two more have gone into back-up status.  Back-up status means that the home has an accepted offer but for some reason they are preparing in case the buyer backs out, or for some other reason like a short sale waiting on the bank's response.

When you figure in the four that went pending (into escrow), that's a whole lot more properties than came on the market this week.  

So, in recap, 4 pending, 7 sold, and 2 into back-up for a total of 13 homes off the market.  When you compare that to the measly 7 that came into the market, you can easily see why this is a great time to get top dollar for your home.

If you are thinking of selling, or buying for that matter, please always contact a local expert for the area so they know how to advise you.  All real estate is local down to the neighborhood still and so you need someone who knows what's what.  I stay on top of the cities I serve (such as La Verne, CA) as you can see and will be more than happy to help you with your real estate needs whether that be to answer any question you may have or give you a free home valuation. And ALWAYS go with a Realtor you can trust!

Serving the 210 Corridor - the cities of Monrovia, Duarte, Azusa, Glendora, San Dimas, La Verne, Claremont, Upland, Pomona, Chino, Chino Hills, Rancho Cucamonga and Fontana.

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

Are we Obligated to Disclose here in California?

Are we Obligated to Disclose here in California?

Okay, so I was reading an article about this poor woman who moved her girls to the state of Pennsylvania from California after her husband passed away.  She was looking for a fresh start in a new place and make some new memories.

She purchased a home for a little over $600,000 and expected everything to be okay.  But when talking with a neighbor, she discovered that the year before they moved in there was a bloody massacre in which a husband killed his wife and then himself.  Of course she was shocked and surprised.  And naturally she is suing because of the lack of disclosure.  Pennsylvania law actually doesn't call for disclosure of this nature.

Now, let me put your mind at ease.  When you purchase a California home, disclosures are obligated by law.  We have to disclosure if anyone died in the property for the past three years and most people disclose everything they have knowledge about.

Are you obligated to disclosure in your state?

Serving the 210 Corridor - the cities of Monrovia, Duarte, Azusa, Glendora, San Dimas, La Verne, Claremont, Upland, Pomona, Chino, Chino Hills, Rancho Cucamonga and Fontana.
Warmest Regards,
Linda K. Mayer, Realtor
License # 01767321
A Realtor you can Trust!
(626) 824-8927 Cell
LindaKMayer@live.com