M A G A Z I N EAUGUST 2012

BUYERS

SELLERS

The Names You’ve Trusted For Over 25 Years

www.MARKandAL.comMARK & AL

Percent of Homes Closed

August 2011 to June 2012Included Areas:Azusa, Baldwin Pk, Chino, Chino Hills, Claremont, Corona, Covina, Diamond Bar, Fontana, Glendora, Hacienda Hgts, Industry/La Puente /Valinda, La Verne, Montclair,Ontario, Pomona, Rancho Cucamonga, Rowland Heights, San Dimas, Upland, Walnut, West Covina, Whittier **Data now pulled from Carets

For up-to-date information or a close look at your property specifically please call or email us!

626-335-6000 • 909-599-3000

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Pomona $365,000Claremont schools!!! The floor plan of this single fami-ly home offers a formal living room and dining areaalong with a separate family room. The kitchen offersupgraded cabinetry counters and looks out to yourrefreshing pool and spa. The master bedroom boastsa master bath. Almost all of the windows are new dualpane and energy efficient. You'll enjoy the ceramic tilein the high traffic areas at the entry and kitchen areas.The corner lot features R/V parking, a large side yardand in the back you'll love the custom built BBQ area,and outdoor fireplace. All of this on a cul-de-sac street,convenient to downtown La Verne and minutes fromthe popular Claremont Village. (M-470-P)

West Covina $389,000This fully remodeled 4-bedroom / 2- full bath home islocated on a huge lot in a desirable neighborhood.There are 4 large bedrooms, (two are very large withwalk in closets), and two fully remodeled baths. Allnew kitchen, cabinets, fixtures, windows, doors, andflooring throughout. You are sure to enjoy many apool party and BBQ in the huge rear yard surroundedby block walls. Large living room with fireplace, cen-tral a/c and heating, and indoor laundry room are buta few of the features. A must see and absolutely willnot last long… hurry! Located on a short leg of Lyall,South of Rowland, but you enter on Marbury St eastoff of Osborne.(M-420-L)

Glendora $ 449,000Move in perfect home and this has always been asought after street in Glendora! Cul de sac location,very sharp surrounding properties show pride of own-ership. Single story pool sized lot with 4 large bed-rooms. The master suite has an attached full bath.Family room, dining room and entry have vaulted ceil-ings. All windows and sliding doors have beenreplaced. Freshly painted, and all newer flooring andmany fixtures. Central a/c and heating. You’ll enjoy theover-sized garage and large covered patio. The yardsare fully fenced using block wall construction. This iswithin Glendora school district. Priced well andabsolutely will not last so hurry to see it. (M-817-C)

Glendora $239,000Great value for a spacious 2 bedroom, 3 bath town-home. Two very large bedrooms with attached privatebaths. One bedroom has its own fireplace. Both bed-rooms have large walk out balconies, spaciouswardrobes, and vaulted ceilings. The large communitypool and spa are just far enough away not to be heard,but close enough to be convenient. The large livingroom with fireplace opens to your own private patioand yard. Two car attached garage. Value priced for afast sale. (M-1216-G)

Glendora $695,000Great investment opportunity! Some of the units havebeen recently updated. Unit A new carpet & paint in2011, Unit C new carpet & paint in 2012. Newer win-dows and newer granite counter tops in the bathroomand the kitchen. Shared BBQ area. Drive by only offerssubject to interior inspection. Rents are low at thistime. (M-664-L)

West Covina $399,000Located in a nice neighborhood of West Covina, thishome is move-in ready! The welcoming entranceopens to the living room with a fireplace and the for-mal dining room. The kitchen has granite counter-tops, stainless appliances, and has a nice eating area.There are 3 large bedrooms, a huge family room (withwalk in closet could be used as 4th bedroom), 2 fullyremodeled baths and 1,663 sqft. Central heat & airconditioning offer year round comfort. Laundry hook-ups are conveniently located in an individual room.Amenities include new flooring, new light fixtures &ceiling fans, and newer windows and sliding doorsthroughout the home. The patio and fenced swim-ming pool make for lots of summertime fun. There isa 2 car garage. (M-832-L)

Mark & Al’sMark & Al’sHomes for SaleHomes for Sale

Glendora $899,000Wow, looks like brand new and the view is amazing too!Built in 2001 this north Glendora home takes advantageof the seclusion, privacy, and amazing views.Experience the view from your very private patio orwhile soaking in your hillside spa. Although this homeis in the foothills there is more usable land than firstmeets the eye. In addition to the large patio there aresteps down to a large grassy yard and gazebo area forkids and entertainment (this yard area will be on yourleft hand side as you approach the home and beforeyou get to the driveway and garage. You’ll enjoy thelarge master suite and bathroom with a large soakingtub, separate shower, walk in closet, fireplace, and gor-geous city light views. 3 additional good size bedrooms,and other terrific spaces make for a truly usable home.The bright and spacious great room opens to theexpansive patio, view deck, and spa. The center islandkitchen with granite counters is beautiful. Yourattached 3 car garage makes for easy access and roomfor all your stuff. Homes with seclusion, features, andviews like these don’t last… hurry. (M-1250-H)

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“Tell the customer the truth, give them the absolute best service, and maintain them for life as a customer.”

— Mark & Al

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With so many new regu-lations, laws, anti-fore-

closure and consumer protec-tion measures, short salechanges, new taxes, etc. I can’t begin to, nor would I want totry, to cover them all herein. For the average home buyer orseller it can all be very confusing. It seems that every day youread or hear of something new affecting the real estate market; it can be almost paralyzing. So, in the shortest form possible allow me to explain what is occurring locally, andhow it affects you as a buyer or seller of real estate.

Inventory has dropped drastically. If you take a look atthe enclosed graph you’ll notice that in less than a year wewent from over a 4-month supply of homes for sale to lessthan a 1.6 month supply. During the same period you’ll alsonotice that the number of sales increased. Less inventory andmore buyers equals a higher demand and should supportprice increases. Buyers face fierce competition today. Anyactive agent or buyer in the market today will tell you thatcompetitive offers are commonplace.

I can already hear you asking; if inventory is lower and competition is so fierce then why have prices dropped from1-2 years ago, and why aren’t prices increasing rapidly now?

Here is the complex answer. 99% of standard sales aredependent upon appraised value. Most buyers need a loanto purchase a home, therefore an appraisal is required. Newbanking regulations have placed burdensome constraintsupon appraisers. Appraisers need a certain number of recentsales to support their appraised value, and if they can’t findgood sales recently enough they have to use whateverrecent sales are available. Over the past 12-18 months thehigher percentage of sales were distressed (either bankowned or pre- foreclosure short sales), not standard or market rate sales. Since appraisers have to use the mostrecent sales to establish value (they aren’t allowed to usestandard sales from a year ago), they have not been able tomake their appraised values match current offer prices inmany purchase transactions. Banks will only loan basedupon appraised value, therefore an artificial ceiling is inplace holding values down and slowing price increases. Infact because of the lack of standard sales (standard sales aretypically higher price sales than distressed sales), pricesdropped in the last 12-18 months because of the lowappraisals despite lower interest rates and increased buyeractivity. This drop was not because of a lack of buyers butabsolutely appraisal driven! Prices are trying to creep up aswe speak with offers coming in above listed prices becauseof competitive offers. Nonetheless often times the acceptedoffer gets readjusted to a price much lower based upon theappraisal once in escrow. So, prices will creep up as morebuyers are willing to add more down payment to pay overappraised value, but this takes time. Little by little the nextsale can increase as appraisers begin to use the most recentstandard sales, especially those where buyers are able to payslightly over appraised value. So you can see how priceincreases are sort of being regulated by appraisals. Needlessto say if you are the seller, have multiple offers above your

asking price, and are thenforced to reduce your pricebased upon appraised value itisn’t fun! Many sellers we have

represented have been forced to sell for a lot less thanoffered simply because the buyers could not get the financing tied to appraised value. This is why sellers must berealistic when pricing their home for sale or they set themselves up for massive frustration.

Our advice to sellers these days is to take a critical lookat what a property will appraise for first, and then attempt tolist slightly above that number. Given enough buyer interestthere is at least a chance that a buyer will be able to bring ina down payment strong enough to exceed the appraisedprice (a buyer can make up the difference between appraisedvalue and their offer if they so choose, lenders just won’tfinance the difference). If you can’t get the price at leastyou’ve given it your best shot. The good news is that as longas you have equity and a presentable property you’ll have noproblem selling, and in most cases almost immediately.

Buyers must be prepared to compete. Don’t even thinkof buying if you aren’t totally prepared as you will just befrustrated when your offer gets passed up. I can tell youfrom experience that sellers and their agents are going toselect the buyer that can best prove he has the money available, verifiable, and a loan approval to support his offer(of course cash is even stronger). If you have a house to sellfirst you simply must have it in escrow already, with solid documentation to back you up, if you hope to competeagainst other offers. It can be done, but I suggest you hire avery experienced Realtor. By the way we’d be happy toapply for that job!

The investment property (multiple unit residentialbuildings) market is strong and supported by investors(many paying cash), that were sick and tired of leaving theirmoney essentially rotting in the bank earning one half of apercent a year. It makes a lot of sense to buy now and holdinvestment real estate at the lower price point. Otherwisenon-interested investors are now on to real estate.

What to expect in the near term? Interest rates are verylow, and as long as they stay there we can expect a stablemarket, with small incremental price increases. However, ifinterest rates spike considerably it could dampen buyer interest. One more proviso; there is still a very large shadowinventory of property in pre-foreclosure stages. If banks startforeclosing sooner (and we expect a flourish of foreclosureactivity before year end), we could see an increase in inventory. This would be great for buyers because we coulduse the extra inventory but could temporarily stall priceincreases. Beyond that and the upcoming election… who theheck knows! Half of the problems we face were created andbeing perpetuated by our so called elected “leaders”. Wepray for the best.

Obviously we are here to, and enjoy, answering anyreal estate questions you have! Our team and our familiesappreciate your loyalty and support. Call or email us whenwe can be of assistance.

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Apparently the only thing consistentin real estate is change!

Opinions, estimates, forecast, and other views contained in this publication are those of Mark and Al. Our views and opinions are our own, and are subject tochange. We do not recommend you make any financial decisions based upon them. Always seek the advice of your own advisor.

4The properties shown do not imply they are the listings or sales of Mark and Al/or Century 21 Masters. The sales data contained herein is obtained from sourcesdeemed reliable but accuracy is not guaranteed.

ADDRESS CITY BD/BA SQ.FT. SOLD630 W. Leadora Glendora 4/2 1,527 515,600650 E. Sierra Madre Glendora 4/3 2,416 540,0001643 Oak Tree Terrace Glendora 3/2 2,198 561,500739 Hunters Glendora 4/3 2,295 590,0001031 Stonehedge Glendora 4/3 2,528 610,0001266 E. Palm Glendora 4/2 2,172 610,000121 S. Country Club Glendora 3/4 2,401 615,000538 Fernpark Glendora 4/3 2,804 625,000757 Fountain Springs Glendora 4/2 2,086 650,0001621 Oak Tree Glendora 3/3 2,463 652,000538 Oak Trail Place Glendora 4/4 2,680 675,0002227 Swiftwater Glendora 6/4 3,582 720,0001209 W. Sierra Madre Glendora 4/4 3,034 790,000825 Via Estrellita Glendora 4/4 3,106 800,0001112 Flamingo Glendora 5/3 3,136 840,0002215 Swiftwater Glendora 5/4 3,293 889,0001530 Fawn Valley Glendora 4/3 3,446 916,5001130 Hidden Springs Glendora 5/5 4,146 955,000915 Cloverview Glendora 4/4 4,149 1,000,000245 Morgan Ranch Glendora 5/4 4,345 1,145,0001873 2nd La Verne 3/2 1,180 269,1991402 5th La Verne 2/1 1,006 275,5002633 Kendall La Verne 3/2 1560 280,5002065 5th La Verne 2/1 768 285,0001975 9th La Verne 3/2 1,340 290,0002237 2nd La Verne 3/2 1,675 305,0002630 Pattiglen La Verne 4/2 1,366 310,0001773 Lordsburg Court La Verne 3/3 1,748 315,0001006 Alessandro La Verne 6/2 2,027 316,000827 Ghent La Verne 3/2 1,373 326,0002650 3rd La Verne 4/2 1,360 335,0001895 Pinyon La Verne 3/3 1,867 350,000963 Glenlea La Verne 3/2 1,617 350,0001878 2nd La Verne 4/2 1,709 360,0001815 Circle La Verne 3/2 1,412 371,0001052 Bonner La Verne 3/2 1,376 375,5001956 Baseline La Verne 3/2 1,505 390,0001010 Eastglen La Verne 3/2 1,556 395,0001122 Canyon View La Verne 4/3 2,070 400,0002528 Kendall La Verne 4/2 1,880 400,0002220 Bonita La Verne 3/3 2,322 400,0004236 Stone La Verne 4/2 1,655 415,000991 Eastglen La Verne 4/2 1,442 415,0002637 Fawn La Verne 4/2 1,828 430,0005017 Wheeler La Verne 3/2 1,869 430,0001060 Sentinel La Verne 3/2 1,705 436,0006663 Shemiran La Verne 3/3 1,980 440,0001375 Aldersgate La Verne 3/3 2,408 440,0002412 8th La Verne 4/4 3,229 450,0002397 Sloan La Verne 3/3 1,907 475,0001151 Oak Knoll La Verne 3/2 1,568 505,0003230 Marsh Hawk La Verne 4/3 2,000 510,000

Home Sales in Your Neighborhood for June and July6742 Angus La Verne 4/3 2,043 565,0002277 Trickling Creek La Verne 4/3 2,288 570,0002442 Sloan La Verne 4/3 2,043 580,0004860 Via Alista La Verne 4/3 2,298 585,0006942 Sherwood La Verne 4/3 2256 625,0005675 Skyline La Verne 4/3 3,160 639,9004875 Live Oak Canyon La Verne 4/2 2,574 655,0005716 Ridgeview La Verne 4/3 3,401 822,0006122 Fairfield La Verne 5/3 4,046 850,0002255 Morningside La Verne 4/4 3,454 900,00025421 Brassie La Verne 5/6 5,858 1,510,000701 Wildwood San Dimas 3/2 1,104 237,000532 Pearlanna San Dimas 3/2 1,758 250,000636 Canyon Hill San Dimas 2/3 1,238 255,000622 Santa Paula San Dimas 2/3 1,287 260,000424 W. 4th San Dimas 3/1 796 261,000831 El Paso San Dimas 3/3 1,625 272,000417 W. 2nd San Dimas 3/1 1,100 275,000321 N. Cataract San Dimas 3/2 1,140 285,000138 E. 3rd San Dimas 3/2 1,432 292,000212 N. Rennell San Dimas 4/2 1,300 300,000360 E. Baseline San Dimas 4/2 1,548 300,000221 N. Eucla San Dimas 3/1 1,000 309,0001231 W. Payson San Dimas 4/2 1,255 309,950401 N. Rennell San Dimas 3/2 1,480 320,0001303 Hansel San Dimas 3/2 1,542 325,0001331 W. Covina San Dimas 3/2 1,680 330,000612 W. Allen San Dimas 3/2 1,311 330,000327 E. Allen San Dimas 4/2 2,148 331,000640 Pearlanna Drive San Dimas 4/3 1,603 345,000438 E. Gladstone San Dimas 3/2 1,402 365,0001056 Chisholm San Dimas 4/3 2,050 367,000380 E. Payson San Dimas 4/2 1,408 375,0001637 Calle Miradero San Dimas 3/2 1,420 375,0001243 W. Kirkwall San Dimas 4/2 1,522 380,0001401 Somerset San Dimas 3/2 1,230 389,000410 S. Valley Center San Dimas 4/3 2,206 395,000439 Balboa San Dimas 4/2 1,825 399,999418 Columbiana San Dimas 3/2 1,729 419,9001617 Calle Ciervos San Dimas 3/2 1,420 424,900124 Abbey San Dimas 3/2 1,708 427,5001430 Eaton San Dimas 3/2 1,706 430,000469 Oakglen San Dimas 5/4 2,268 455,000851 Chapparal San Dimas 4/3 2,346 459,6991315 Paseo Dorado San Dimas 3/4 2,501 465,000421 N. San Dimas San Dimas 4/5 2,400 490,0001620 Calle De Armonia San Dimas 4/3 2,264 510,0001434 Calle Linda San Dimas 4/3 2,809 555,0001859 Newcastle San Dimas 6/4 2,831 610,000108 Avenida Melisenda San Dimas 4/3 2,918 679,9001045 Cataract San Dimas 6/4 3,816 779,950

ADDRESS CITY BD/BA SQ.FT. SOLD ADDRESS CITY BD/BA SQ.FT. SOLD703 Invergarry Glendora 3/1 1,428 250,000602 W. Glen Lyn Glendora 3/1 1,080 253,0001063 Forestdale Glendora 3/2 1,156 260,000863 Bridwell Glendora 3/2 1,409 270,000416 N. Vermont Glendora 2/1 992 270,000602 E. Lemon Glendora 2/1 780 275,000720 Armstead Glendora 4/2 1,143 278,0001830 Deserta Glendora 3/2 1,146 280,0001038 Heather Glendora 3/2 1,121 283,0001104 E. Juanita Glendora 3/2 1,557 283,000340 W. Heber Glendora 3/2 1,264 299,000639 S. Pennsylvania Glendora 3/2 1,324 300,000108 E. Duell Glendora 3/2 1,046 300,000813 W. Hollyvale Glendora 3/2 1,202 305,0001520 S. Stephora Glendora 3/2 1,242 310,000210 E. Renwick Glendora 5/3 2,086 317,000450 N. Vermont Glendora 2/1 1,121 321,000711 Cordelia Glendora 4/2 1,367 325,000922 S. Danehurst Glendora 3/2 1,198 328,000625 Lisa Ellen Glendora 3/3 1,794 335,000138 S. Worthy Glendora 3/1 1,003 335,000513 W. Leeside Glendora 3/2 1,492 338,000858 La Serena Glendora 3/2 1,230 339,000402 E. Juanita Glendora 3/3 1,086 340,000750 Brightview Glendora 3/2 1,320 348,000203 W. Newburgh Glendora 3/2 1,281 350,000621 Lochleven Glendora 3/1 967 350,000930 S. Dodsworth Glendora 4/2 1,730 352,000202 W. Norgate Glendora 3/2 1,512 358,800410 W. Kirkwall Glendora 3/2 1,672 360,000504 E. Foothill Glendora 2/2 1,476 369,900112 W. Sierra Madre Glendora 2/2 1,220 370,0001624 S. Danehurst Glendora 3/2 1,828 373,500349 N. Barranca Glendora 4/2 2,163 375,0002630 Charford Glendora 3/2 1,744 380,0001218 Wales Glendora 3/2 1,900 380,1421702 S. Bender Glendora 4/2 2,075 390,00019023 E. Mauna Loa Glendora 3/2 2,033 390,0001325 Sierra View Glendora 4/4 2,108 400,000557 N. Vermont Glendora 3/2 1,225 404,700738 E. Foothill Glendora 3/2 1,440 405,0001361 E. Cypress Glendora 3/2 1,652 431,5001234 E. Gladstone Glendora 3/2 1,528 450,000225 S. Worthy Glendora 3/2 1,815 459,900225 Roundup Glendora 3/2 1,807 460,000631 Willowgrove Glendora 3/2 1,913 470,000”1835 E. Poppy Glendora 3/2 1,584 482,000440 E. Bennett Glendora 4/2 1,606 485,000320 W. Laurel Glendora 4/3 1,656 495,000442 W. Leadora Glendora 3/2 1,840 500,000811 Rainbow Glendora 3/2 1,846 508,000411 W. Laurel Glendora 3/3 1,685 515,000

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