By Gil Rivera
This is my first in a series of short articles giving you updates about the local real estate market. We are all busy with our jobs, family and friends so I will make these articles short enough to read in “A Real Estate Minute”!
As for my background, I’ve been a State Certified Real Estate Appraiser for 25 years and have owned my real estate sales company, SellYourCasa.com, for the past 17 years. I appraise over 250 homes a year for refinances, sales, listings, trusts, bankruptcies, divorces, and estates. I’ve lived in Diamond Bar for the past 26 years. I appraise homes from Los Angeles thru the San Gabriel Valley to the Inland Empire and down thru North Orange County.
As I write this, May 2017 has come upon us and the 2nd financial quarter is almost complete. It is still a SELLER’S market! In the past few weeks, homes have been selling within 7-14 days! Ever since the interest rates went up at the end of March, the market has been booming. Why? Many Buyers who were sitting on the fence decided to take action before the rates rise again. Many buyers equals More offers which in turn yields Higher prices for Sellers!