Diamond Bar, CA

Have you notice a lot of for rent signs on the street lately? Why are we having so many houses for rent this time of the year? Here are the 3 main reasons:

1. Investors move into the rental market:
Since there are a lot of bargain buys of bank owned and short sale properties, investors are moving into the market to secure good deals and rent them out.

2. Quality renters make purchases:
Quality renters with good credit and enough savings for down payment are buying now creating large quantities of available rentals.

3. Holiday seasons:
Traditionally, very few people like to move during the holiday seasons especially from November to January. Rental activities do not normally resume again until March.

Because of this, this time of the year is the best time for bargain conscience renters to secure good deals.

For landlords, be sure to keep your house in the optimal condition at an aggressive price in order to attract quality renters who have so many option to choose from.

The months of supply of homes for sale is low for single family homes in Diamond Bar. From this time last year, the supply of homes for sale has decreased by 57%.

In the city of Diamond Bar over, since last September, the median sales price has decreased by 2%. Additionally, this is not the only good news. Since last year, the average days on the market has increased by 21%. This means homes are on the market approximately 10 days longer.

So what does all this mean for you? It means that there are many buyers looking in Diamond Bar, homes continue to sell for close to the same price as this time last year but they are staying on the market a little longer than last year.

Keisha Hosea is a local Market Expert and Realtor in Chino Hills, California with Keller Williams Realty, She is the Team Director and CEO of KASI Homes. She has been a local resident of Chino Hills and the Inland Empire for over 22 years and enjoys volunteering with the City of Chino Hills in her spare time. You may call her direct at (909) 261-6377 for further questions on this information or any other real estate advice. You may also visit the website at http://KASIHomes.com

Navigating through any home sale can be full of bumps and pitfalls just in general. Now in our current climate, let's add on a short sale issue on top of all of our every day bumps. Okay, so now that we have navigated our way through three months of the murky waters that we currently call a 'short sale negotiation' now let me introduce you to our next delightful pain in my side. I'd like to introduce you to the fine gentleman who runs the Home Owners Association. We'll just call him MR. HOA.

Home Owner Association documents were requested in writing from Mr. HOA weeks ago. Numerous people have called to inquire about the status of the HOA documents to no avail. So here we are down to the final week before closing and we are still looking for these documents. I put in another call to Mr. HOA and inquire about the documents when Mr. HOA rudely announces, "All these reminder calls are not going to make me move any faster. We process them in the order received. I told you guys earlier that I would have them out today. I have ten escrows closing and I will get to them when I can."

This response absolutely appalled me. I understand that many people are a little stressed out on the job right now but what ever happened to professional courtesy and decorum. Needless to say, I responded by saying "Mr. HOA, I certainly appreciate hearing how you work and what your normal protocol is. It is my job to continue to represent the interest of my client My client is due to close escrow and requires that documentation immediately to do so. I will continue to call until such documents are received."

My question is and still remains, what goes on behind this Homeowners Association? I happen to be representing a seller in this case and truthfully would be very skeptical about ever introducing a buyer to this development after this interaction. What Mr. HOA fails to understand is that this interaction, on perhaps what was just an unfavorable day, has left an indelible impression on me. We must truly be careful of our approach or it can do irreparable harm. Mr. HOA you have managed to leave an absolutely dreadful impression.

Keisha Hosea is a local Market Expert and Realtor in Chino Hills, California with Keller Williams Realty, She is the Team Director and CEO of KASI Homes. She has been a local resident of Chino Hills and the Inland Empire for over 22 years and enjoys volunteering with the City of Chino Hills in her spare time. You may call her direct at (909) 261-6377 for further questions on this information or any other real estate advice. You may also visit the website at http://KASIHomes.com

The months of supply of homes for sale is low for single family homes in Diamond Bar. From this time last year, the supply of homes for sale has decreased by 31%. There are 16% more homes available since last month.

The supply and demand for single family homes in Diamond Bar shows us that while the supply is down 34%, the demand for single family homes is up by 15%. Despite what you may have heard from the national media reports, in the city of Diamond Bar over the past year the median sales price has increased by 5%. This is a 1% gain since last month. This is not the only good news. Since last year, the average days on the market has decreased by 19%. This is also up since last month by 15%

Keisha Hosea is a local Market Expert and Realtor in Chino Hills, California with Keller Williams Realty, She is the Team Director and CEO of KASI Homes. She has been a local resident of Chino Hills and the Inland Empire for over 22 years and enjoys volunteering with the City of Chino Hills in her spare time. You may call her direct at (909) 261-6377 for further questions on this information or any other real estate advice. You may also visit the website at www.KASIHomes.com

In an effort to stimulate housing demand, President Barack Obama included a tax credit of up to $8,000 for certain first-time home buyers in the $787 billion economic stimulus package he signed in February.

Only buyers of principal residences who make purchases before December 1 and have an adjusted gross income of $75,000 or less (or $150,000 for married couples) are eligible for the full credit.

We are experiencing a boom real estate market starting this March right after the law is in effect. Falling home prices have worked their magic and the tax credit has played a key psychological role in pushing buyers off the sidelines.

The tax credit is one of a number of factors that have worked to bolster the housing market in recent months especially entry level home that is priced below half a million dollar in our area.

The federal tax credit of $8000 to the first time home buyer is about to expire on 11/30/09. Although the credit's deadline isn't until the end of November, buyers may need to make an offer on a house by the middle of October to take advantage of it since it will take about 30 days to close an escrow.

Unless the tax credit is extended by lawmakers, this will be the last chance for the first time home buyer to secure a home at an unbelievable low market price (comparing the price from last year) with a great tax incentive.