Worth $1Billion More!

By Nef Cortez The housing market continues to steam ahead at a strong pace with upward trends in appreciation of values.  The California Association of Realtors (C.A.R.) updated their projections for sales in 2018 statewide and their revision included an increased number of home sales as well as an accelerated price appreciation. Much of the anticipated […]

Elections Impact Home Prices

By Nef Cortez Home prices in Diamond Bar, in California, and in the United States in general, have risen substantially over the last 7 years.  As reported previously in this column, the Median Sales Price of a Single Family Residential detached home (SFR) had reached a post Great-Recession high of $735,000.00. This being an election […]

Diamond Bar Median Household Income Exceeds National Average

By Nef Cortez The Diamond Bar Median Household income has continued to rise to the level where it has now surpassed the national average by more 52%.  The national median household income stood at $59,039.00 as per the last figures available from the U.S. Census. The same data source reported the Diamond Bar number at […]

California Dreamin’?

By Nef Cortez The Legislative Analyst’s Office, which is the California Legislature’s Nonpartisan Fiscal and Policy Advisor, reported earlier this year on the net migration of California’s population. The report stated that between 2007 to 2016, about 5 million people moved to California from other states, while about 6 million left California. As high as […]

Investors Seek Higher ROI!

By Nef Cortez Investors worldwide are searching for a higher return on their investment! Throughout the United States, some cities are attracting a higher number of  real estate investors due to many factors, but primarily because their Cash on Cash return exceeds the return if they invested in real estate elsewhere. Today’s worldwide low interest […]

Rents Rocketing? Part 2

By Nef Cortez Diamond Bar property values have increased tremendously over the last 8 years, as they have throughout California. Rents have also increased more than 30% for Single Family Residential (SFR) detached homes over that same period of time. This week we will look at the rental rates for Townhomes and Condominiums in Diamond […]

Rents Skyrocketing?

By Nef Cortez I have reported on home values rising fast in Diamond Bar. Today, wetake a look at how fast rents are increasing as well. Home values typically follow the pattern of economic recessions, with prices increasing as the economy improves, and peaking at about the same time or slightly after the economy has […]

Boomerang Buyers Re-enter Market

By Nef Cortez “Boomerang Buyers”, homeowners that lost their homes through foreclosure or were forced to sell their homes as “Short Sales”, are re-entering the market.  The peak of foreclosure notice filings-bank repossessions, scheduled auctions, and default notices-occurred in 2010, passing the 2,870,000 mark. It surpassed the previous year’s record number of 2,300,000 filings.  The […]

Diamond Bar Condo Sales Update!

By Nef Cortez The “California Screamin’” Roller Coaster ride that is the housing market continues! Diamond Bar Condominium and Townhome sales dropped like the downward hurtle after the “loop” at the famous Disneyland ride.  The number of recorded condominium and townhome sales in Diamond Bar dropped dramatically from 74 in the 4th quarter of 2017 […]

Diamond Bar Homes Sales Update

By Nef Cortez    Homes Sales Down! True Home prices up! Median Sales Price is down! The trends have changed. The lower number of sales usually indicates a lower sales volume, and so do home prices. The fact that the number of homes sales in Diamond Bar decreased for a third consecutive quarter is not […]

Sources of a Down Payment

By Nef Cortez   How much money does a person have to have in order to buy one’s home? The answer to this question, of course, varies in many ways. One variable is in what city one decides to make their home. That decision, of course, will affect the price of homes that a person […]

Prepare To Buy Right Part 2

By Nef Cortez Last week I wrote regarding what a buyer needs to do to prepare to buy a home. Steps such as accumulating a down payment, developing credit, as well as others steps they can take to prepare were presented. Here I now present some of the next steps: finding a realtor, finding a lender, and locating the home. Purchasing a home will be one of the biggest investments a […]

Prepare to Buy Right

By Nef Cortez Zig Ziglar, motivational speaker/author quoted: “Success occurs when opportunity meets preparation.”  How does opportunity meet up with a home buyer? Opportunities will present themselves.  Important prerequisites for a home buyer to include in their planning to be “buyer ready” and prepared to buy right and at the right opportunity are: build credit, […]

Where Will Our Children Buy?

By Nef Cortez Some have likened living and raising a family in the wonderful community of Diamond Bar to the “fantasyland life experienced at Disneyland”. Many longtime residents of Diamond Bar have worked their way up to being able to afford this safe and beautiful community.  The comparison of where they live now to where […]

Diamond Bar “Fix and Flip”

By Nef Cortez Are there fix and flip opportunities in Diamond Bar? It appears there are. Generally, fix and flip opportunities are more common in communities that are long established, where the housing stock is older, and the combination of time and deferred maintenance intersect to provide the “perfect storm” that allows for the fix […]

Diamond Bar Housing

By Nef Cortez The Diamond Bar housing market has achieved a median sales price which is at an ALL TIME high! The roller coaster ride that has been housing sales prices in the last 30 years is now achieving new record high levels.  Factors that drive this market to its current high include a shortage of […]

Eaten Out Of House…

By Nef Cortez ​…And Home!.  Many a person who is a head of a household makes this outcry when facing the burdens and responsibilities of having to provide for their families.  They feel so burdened by trying to make ends meet, such as the home mortgage, the taxes, the insurance, utilities, and food.  However, there […]

Diamond Bar Home Sales Update!

By Nef Cortez Homes Sales Down! Home prices up! Usually when sales volume goes down, so do home prices. The fact that the number of homes sales in Diamond Bar decreased for a second consecutive quarter is not an indication that there is a lowering of demand for homes in this community. It is more […]

Interest Rates Going Up?

By Nef Cortez Housing affordability is greatly affected by the interest rate that one can secure when obtaining their loan. Interest rates go up and down, and are largely influenced by forces that affect all markets: Supply and Demand. Due to the Great Recession of 2008, long term mortgage interest rates have been low for […]

Rent or Buy?

By Nef Cortez Most people start their independent living when they first move out of their parent’s home by renting.  They either choose to rent a room at another person’s home, or possibly move into a friend’s apartment. Many times they go from that living arrangement to sharing the cost of renting an apartment or […]