Housing Bubble Chatter

By Nef Cortez   As a licensed agent since 1976, I have seen a few cycles of the Real Estate market.  None that I have seen have been exactly like one of the others.  Lately, there has been a lot of “Chatter” in real estate circles, or in articles written about whether we’re in the […]

When Does 1% = 12.5%?

By Nef Cortez Is this an example of “Modern Math”? 1 % can be a BIG number in the Real Estate industry, as well as in the Home Lending industry.  As the economy improves (and this last quarter’s 4.1% increase in the Gross Domestic Product (GDP) indicates that it is), home loan interest rates are […]

Interest Rates Affect Home Values

By Nef Cortez Interest rates have been trending at historically low levels for the last decade. Beginning with the Great Recession (which many have termed a Depression), interest rates on home loans carrying a fixed rate and a 30 year payback term, have meandered under 4.75%.  They have ranged from the current 4.5% down to […]

Millennials # 1 in Housing

By Nef Cortez Millennials have now surpassed Baby Boomers as the largest segment of homebuyers.  According to a report by the National Association of Realtors (NAR), millennials comprised 38% of all buyers across the US in 2013, surpassing the 32% comprised of Baby Boomers. Since then, Millennials have consistently been the largest segment of the […]

Consumer Confidence and Housing

By Nef Cortez Consumer confidence, which reached new heights the previous months, retreated slightly this past month as reported by the Federal National Mortgage Association (FNMA). The housing confidence reading of 90.7 was down 1.6 points from the previous month’s record high of 92.3. One of the contributing factors in reaching historically high home price […]

Homeownership is Good for Kids

By Nef Cortez Homeownership has long been lauded as an important factor in the success of children in school and subsequently in their careers. Much research and many studies have been completed with analysis on the beneficial impacts of homeownership on children. This fact has long been used by the real estate and lending industries […]

Affordability Crisis Looming?

By Nef Cortez As the real estate market continues to chug along with a strong price trend increase, the question of affordability is at the forefront of many discussions. The obvious center of discussion is the real estate industry itself, including real estate agents, mortgage originators or loan agents, escrow companies, title companies, and other […]

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, […]