Jennifer Castillo Realtor® Pomona California Route 66 Homes

A Redwood grove in Pomona, Ca...who would have known? I decided to visit the grove yesterday. Since the weather had been hovering around 81 degrees for the past few days I knew the morning would be nice and peaceful to be out and about.

When I think of the giant Redwoods of Sequoia National Park I am filled with awe. Granted, the Redwoods in Pomona are approximately 32 years and can not be compared to the majestic beauties of the north. Even still these So. California Redwoods hold their own. As I walked along and in between them their sweet, clean, piney scent brought back fond memories of when I had been to Kings Canyon a few years back. The cool shade they provided near a couple of sitting benches was refreshing. I took several pictures and enjoyed my 20 minute stay. If you are near the area make sure to stop by and pull off the road to stroll among these timeless beauties.

The 250 tree Redwood grove is located at Ganesha park which happens to be Pomona's oldest park. The grove is at the north end of the park in the Ganesha Hills neighborhood along Mc Kinley Ave. The Pomona Fairgrounds are also across the street from the grove. This Redwood grove is the only one in So. California.

Absorption rates are a calculation of how long it will take for all the homes on the market to be sold, or absorbed, based on how many homes are on the market and how many were purchased in the last 30 days.

Exactly, how does a buyer or seller know when the real estate market is considered to be a buyers' or sellers market'? No buyer wants to pay too much and no seller wants to leave money on the table by pricing too low. The answer is in knowing the market absorption rates.

Property absorption rates in any local real estate market are usually considered the best indicators of whether that market is a sellers', buyers', or a neutral market. Knowing the current real estate market cycle is essential for success as either a buyer or seller.

Sellers' Market - Absorption Rates 1-4 months
Neutral Market - Absorption Rates 5-6 months
Buyers' Market - Absorption Rates greater than 7 months

Current absorption rates in months for Eastern Los Angeles County neighborhoods:

Claremont, 91711 - 16.3
Pomona, 91766 - 32.4
Pomona, 91767 - 23.2
Pomona, 91768 - 22.7
La Verne, 91750 - 12.3
San Dimas, 91773 - 13.3

Knowing absorption rates for local markets will be helpful for anyone trying to figure out the current real estate cycle and how to formulate a winning buying or selling strategy.

Fox 11 has a foreclosure scam story that's worth watching. Reporter Gina Silva profiles "real estate consultant" Raul Altamirano, whose advice to would be real estate investors includes: "When you don't make the payment, you should be very, very happy! ... I didn't make the payment, and I'm still here!" A couple of alleged victims tell how they followed Altamirano's advice, borrowed against their home equity, and invested money with Altamirano, never to see the money again.

Some of you will take the view that only an idiot would fall for this kind of scam. Perhaps, but the scam could only exist in an environment when lenders fought for the chance to make loans to these people.