Diamond Bar Housing Market Falters Too!

By Nef Cortez I wrote last week on the California housing market as reported by the California Association of Realtors’ (C.A.R.) on the subject of the statewide faltering housing market in California.  The data showed that for first time in nearly two years, the rate of home sales in California fell below the 400,000 level for […]

Housing Market Falters

By Nef Cortez The California Association of Realtors (C.A.R.) reported that for the first time in nearly two years, the rate of home sales in California fell below the 400,000 level, with the annualized number of sales falling for the fourth straight month to 399,600.  The sales rate declined 1.8 % from July, and down […]

Stuck in Your Home?

By Nef Cortez One of the factors driving California housing prices higher is that there are many people stuck in their homes because they cannot afford to sell the home where they live and move to another comparable one, or even one of lesser value. A large number of Californians purchased their homes more than […]

Proposition 5 and Taxes Affect Me How?

By Nef Cortez Whether or not you are a homeowner, get familiarized with California’s Proposition 5 regarding property taxes.  In one form or another, this measure will affect you or your family members.  As usual, during the elections, you will be hearing about the pros and cons from interested parties as to how they recommend […]

Rents Still Skyrocketing?

By Nef Cortez I have reported on home values rising fast in Diamond Bar. Today, we take 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 […]

Housing Prices Declining?

By Nef Cortez I reported last week that the Diamond Bar Condominium and Townhome market saw an increase of almost 11% year over year (2nd quarter 2018 as compared to 2nd quarter 2017) in its Median Sales Price (MSP). What happened to the price of detached homes in Diamond Bar for the same period? According to the […]

Diamond Bar Condo Market Update

By Nef Cortez The Diamond Bar Condominium and Townhome market continues to roll along! The Median Sales Price (MSP) of Diamond Bar condos and townhomes went up Year over Year by almost 11%. The increase of the condominium/townhouse MSP went up from $360,000 in the 2nd quarter (April-May-June) of 2017 to $399,000 in the 2nd […]

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 […]