Cher Mayer, CP, Realtor - Century 21 Masters

04/06/2018

Friends and clients: I am currently helping an ill relative in Las Vegas, Nevada but am available by phone. I am still working with my Covina associates and so please give me a call if we can be of assistance to you. Hope to see you soon.

04/23/2016

To get a free Market Analysis of your property go to -
http://tpr.cm/gdq

09/20/2014

I would love to hear from my friends, associates and clients on how I can help improve my page and what advise and information you would like to see.

09/20/2014

Just started updating my profile and information on Zillow.com.
Unfortunately, I did not keep a complete "paper" record of all of my sales and my computer crashed when I moved to Big Bear Lake. I have however posted a representation of some of my sales.
Since the majority of people search the internet before finding the Realtor to work with, it is important to have a presence on it.

04/03/2014

Cal-BRE # 00702972 (Real Estate License No.)

03/05/2014

Want to buy? Suggest now before interest rate go up much more/

03/05/2014

Our Market continues to improve. Interest rates are still low - perfect time to do some business!

02/11/2014

CALIFORNIA HOUSING MARKET IS EXPECTED TO BE UP IN 2014

The California housing market had a decent performance in 2013. For the first nine months of 2013, sales of existing single-family detached homes were down 3.2 percent when compared to the same period of last year. This decline in sales was attributed partially to the hike in interest rates in recent months, as the average 30-year fixed rate increased more than 100 basis points since April 2013 and was the highest since the mid of 2011. Looking forward, annual sales of detached homes are expected to decline slight from 439,420 units in 2012 to 430,270 units in 2013, with 2014 improving to 444,040 units.

The year 2013 is a year when the housing market transition from "investor sales" to "primary home sales". The share of investor sales is expected to decline as the number of bargain properties continues to decrease, while the share of primary home sales is expected to improve as the economy continues to grow. As such, the increase in sales bought as primary homes will be undercut by the reduction in investor sales, and hence the slight decrease in overall sales in 2013. 2014 will be a more "normal" year and the economy will presumably grow at a faster pace, which will provide support to the housing market.

With the inventory levels lean through the balance of 2013, the California median price is projected to increase 28.0 percent from $319,310 in 2012 to $408,600 in 2013. The significant increase in price in 2013 was due in part to the mix of sales. The sales share for higher end homes will continue to inch up or remain near the current level for the rest of the year. Thus, more homes in the upper price segments will be sold in 2013 when compared to 2012. Because of the change in the mix of sales from 2012, the statewide median price is expected to increase significantly on a year-to-year basis.

The increase in the median price at the state level, however, appears to be slowing down in recent months. Since the sales share of distressed sales is already at a low level and was expected to remain at or near that level for the rest of 2013. It is unlikely to see the sales share of distressed properties declining much lower in 2014. The price appreciation due to a shift in the mix of sales should thus be much smaller than what we observed in 2013. As a result, the median price for California existing single family homes is projected to increase only six percent to $432,800 in 2014.

With the value of discounted properties continue to appreciate, investors are paring their purchases of distressed homes as their profit margin narrows. As investors take a step back, inventory will likely improve slightly in the upcoming year. Meanwhile, the increase in home prices will also encourage more homeowners to put their houses up for sale. The housing supply will grow and should gradually climb back from under three months in 2013 to about four months in 2014.

Article courtesy of the California Association of Realtors, Market Data Research.

02/04/2014

Mortgage Rates Ready To Rise
Homeowners and potential homebuyers will face higher rates in 2014. How high will rates go? That will depend on the Federal Reserve and how the economy performs.
The Fed has reduced its $85-billion-per-month bond-purchasing program to $75 billion and may continue to trim the program. The tapering was somewhat expected by investors, but rates are likely to climb as the Fed keeps scaling back on the bond purchases.
"If the Fed is able to taper and eventually stop buying bonds and the economic recovery gains steam, mortgage rates could move above 5 percent and stay there," McBride says. "But anything short of hitting both of those marks and mortgage rates will spend more time below 5 percent than above."
The Mortgage Bankers Association expects the 30-year fixed rate to rise to about 4.8 percent by the second quarter of the year, reaching 5 percent in the third quarter, according to the MBA’s latest forecast. That gives potential buyers time to shop for a home and still grab a low rate, but don’t waste time.
“Mortgage rates will rise during 2014, so don’t gamble with your rate lock,” McBride says.

Contribted by: J. Gamboa, ICM 02/03/14

02/01/2014

Home sellers excited about the market again; have confidence to repurchase, C.A.R. survey finds

LOS ANGELES (Jan. 16) – Home sellers are more optimistic about repurchasing a home than in the past few years, thanks to strong growth in home prices, record-low interest rates, and better personal financial situations, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2013 California Home Sellers Survey.”

More than two-thirds (69 percent) of home sellers purchased a home after selling their previous residence, up from nearly half (47 percent) in 2012, and from only 12 percent in 2011.

“Much-improved housing market conditions in the last year have given sellers more confidence to own a home rather than to rent one,” said C.A.R. President Kevin Brown. “With sellers being more positive about the future of home prices, the vast majority of sellers who are currently renting plan to buy again in the future. In fact, 70 percent of sellers who are currently renting said they would purchase another home, up from 22 percent in 2012.”

Nearly half of sellers (43 percent) believe that home prices will rise in one year, compared to just 9 percent in 2012, and nearly three of five sellers (58 percent) believe home prices will increase in five years, up from 12 percent in 2012.

Additional findings from C.A.R.’s 2013 California Home Sellers Survey include:

• The reasons for selling changed significantly in just one year. In 2012, the majority of sellers sold primarily because of financial difficulties, but as home prices surged, a desire to trade up became the top reason for selling in 2013. Others wanted to take advantage of low interest rates to finance their next home, and some sellers believed the price of their home had peaked and wanted to cash out.

• Heightened market competition in the first half of 2013 led to an increase of multiple offers, nearly all home sellers (98 percent) said they received multiple offers, up from 83 percent in 2012. On average, each home sale received 5.9 offers in 2013 compared to 3.1 offers in 2012.

• Fierce market conditions also led to bidding wars, with nearly half (45 percent) of all sellers receiving offers higher than the asking price. In fact, more than one-third (37 percent) received three or more offers above asking price. Sellers, on average, received 2.2 offers above asking price.

• The Internet continued to be the most common resource for sellers to find an agent, with 51 percent of sellers finding their agent online. One-fourth of sellers used the agent with whom they had previously worked, up significantly from just 3 percent in 2012.

• Website listings were an integral part of the selling process, with more than two-thirds of sellers finding Realtor.com as the most important website in the selling process.

• Social media is playing a larger role in the home-selling process. Nearly three-fourths (74 percent) of sellers incorporated social media into the selling process, up from only one-fourth (24 percent) in 2010. Sellers used social media sites such as Facebook (83 percent); Twitter (52 percent); YouTube (39 percent); LinkedIn (24 percent); and Yelp (19 percent) to learn more about their agents or to communicate with them.

California Home Sellers Survey slides:

• More sellers are repurchasing.
• Sellers optimistic about home prices.
• More sellers received multiple offers.
• Reasons for selling.
• Sellers’ most used websites.

The 2013 C.A.R. Home Seller survey was conducted by telephone to 600 people statewide to measure their perceptions of the home selling process. Eligible respondents all closed escrow on their homes within the six months prior to August/September 2013. Access the full report on the survey findings here: http://www.car.org/marketdata/surveys/seller/

Leading the way…® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with 165,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

All of the surveys about sellers in CA.

01/23/2014

Cher Mayer @ RE/Max Masters will help you find or sell a home in Covina. Contact me Today.