I am Deann Guill, a full time Real Estate Agent in Chino Hills and the surrounding area and a proud member of the Centennial Team. I have built my business on a simple principal – that you, the customer, must always come first. Whether you’re buying or selling a home in Chino Hills, Chino, Corona, or Ontario, locating the right Realtor who is an expert in the area can make all the difference in the world.
Centennial is the Inland Empire’s #1 Real Estate firm with five offices located in Chino Hills, Chino, Corona, and Ontario. Why not go with a leader? Centennial is the most recognized name in real estate and Centennial is the number one real estate brokerage serving the Inland Empire.
Whether you are a first time buyer or an experienced investor, I hope that you will find useful information about how to choose the “right” property, making an offer, negotiating, financing, mortgage rates, moving, and everything involved in making an informed real estate decision in today’s market.
If you are looking to purchase a home in Chino Valley, please take a look at my selected at the properties I select weekly that feature Homes in Chino Hills, Homes in Chino, Homes in Corona, and Homes in Ontario. You may also access the Tri-County Association of Realtors Multiple Listing Service (MLS) which contains the properties listed through the local realtors in the area. If you’re not quite ready to purchase a home, I also provide a weekly update of Homes for Rent in Chino Hills, Homes for Rent in Chino, Homes for Rent in Corona, and Homes for Rent in Ontario.
See exclusive listings!!!
Exclusive Pinehurst Hills Executive Home – $750,000
1206 Shepherd Way
16588 Quail Country Avenue, Chino Hills
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A Rare Find In Claremont – $520,000
1206 Shepherd Way 1206 Shepherd Way, Claremont, CA 91711
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Gated Diamond Valley Estates Pool Home – $865,000
1622 Pleasant Hill Dr, Chino Hills, CA 91709
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What’s Going On in the Chino Valley Real Estate Market – June 2007?
Previous Market Updates
Chino Valley Home Sales
The State of the Chino Valley Market for June 2007
The number of detached single family homes sales in the Chino Valley cities of Chino Hills, Chino, Corona, and Ontario has seemed to have stabilized at just under 200 homes per month demonstrating the strong desire people have to live in the area. Although home prices still seem to be declining, the fact that there are continuing strong homes sales in the area indicates that the real estate market is weathering the sub-prime mortgage meltdown. While I see a significant number of foreclosed homes for sale (also known as Real Estate Owned or REO) in the area I don’t believe that they have yet started to have a major impact yet on home values.
A note on the sub-prime mortgage meltdown…
I wanted to take a minute to talk about what I think happened to cause the sub-prime mortgage market to fall apart and how I think it will effect home financing in the future. Basically, the sub-prime lenders, such as the bankrupt New Lake Financial Corp and American Home Mortgage Investment Corp were making loans using underwriting guidelines that assumed that property values would not see a significant decline. Most of the sub-prime loans that are in trouble were made to people with less than perfect credit who put little or no money down. The widespread industry practice allowing people to obtain loans using “Stated Income” without requiring income verification may be a big factor of why we are seeing so many people who are having trouble making their mortgage payments.
You might be asking why a mortgage company would make these risky sub-prime loans, and the answer is that they were extremely profitable for the mortgage companies and also extremely expensive for the consumers who purchased them as explained in the August 26, 2007 New York Times article Inside the Countrywide Lending Spree
Most mortgage lenders combine the loans they make into packages that are sold to investors. These investors depend upon investment research companies such as Standard and Poor’s to evaluate the risks associated with the loan packages and grade the risk. As home values started to decline the number of foreclosures many investors felt that risk associated with these loan packages had been incorrectly evaluated. As a result, the investment market has reacted by not purchasing any loan packages except those backed that are backed by the Government Agencies Fannie Mae or Freddie Mac which caused companies like Country Wide Financial to be unable to make new loans. As you may have heard or read, Bank of America has invested $2 billion in Country Wide in August which not only ensures that Country Wide will be able to continue to make mortgages, but it also shows Bank of America’s strong believe that properly underwritten mortgages are still a good investment.
Should You Buy Now?
If you’re one of the buyers who are waiting on the sidelines for the real estate market to reach the bottom, you need to be asking yourself “how do I know when it’s the right time for me to buy”. Here are some things I tell my clients to think about to help them determine the purchase strategy that’s right for them.
Every home buyer and every home are different. In my opinion, finding a deal isn’t as important as finding the right match at the right value. The current large selection of homes for sale and motivated buyers provides a better selection of homes to choose from and the ability to negotiate a price based upon similar homes in the area that are not as close a match for you.
Real Estate should be a long- term investment. During the super-heated real estate market over the last couple of years, buyers got used to viewing property as a short- term investment where they could sell for a profit or refinance in as little as a year or two. Traditionally, most real estate professionals have advised to plan on holding real estate for 5 years for it to appreciate enough to be able to sell and see appreciation. You should plan on purchasing a home where the payments are comfortable and you would not need to think about selling for several years.
Should you try before you buy? You can rent a house in the Chino Valley for the same or less than it would cost to purchase a similar house. If you are planning on moving here from out of the area, it may make sense to get a feel for what it would be like to live here and help you to decide which neighborhood you would purchase in. In addition, if you will be working in another area, renting first before you purchase may be especially attractive in order to test drive what the actual commute will be like on a day-to-day basis. To get a feel for properties for rent in the area, I would encourage you take a look at my list of homes for rent in Chino Hills, Chino, Corona, and Ontario.
Please feel free to browse through this site to explore the San Bernardino County communities of Chino Hills, Chino, Corona, and Ontario. This comprehensive online tool offers direct access to the latest realestate for sale in your area. Featuring extensive community information, consumer links, school information, relocation, free reports, answers to commonly asked real estate questions, and more, you’ll find everything about real estate within one easy source. If you currently own property and are thinking of placing it on the market, this site contains information about preparing your home for sale, selecting the right agent, pricing your home appropriately, marketing it effectively, going through the inspection processes, and receiving a timely market evaluation.
Please feel free tocontact me for information about Chino Hills, Chino, Corona, or Onatatio or to have me prepare a personalized report for you about Chino Hills Homes For Sale, Chino Homes For Sale, Corona Homes For Sale, or Ontario Homes For Sale that is fitted to your personal needs.