We Specialize In These SoCal Area Communities

Alhambra - Arcadia - Duarte - Azusa - Pasadena - West Covina - Chino Hills - Diamond Bar - Glendora - Fullerton - Rancho Cucamonga - Brea - Walnut

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Struggling to Afford a Down Payment in LA?



I have good news for buyers in LA County who have struggled to put together a down payment for a home in our hot market. A new loan program allows you to buy a home with just 1% down.

Today, I have good news to share.

Many of you have asked me about the affordability of housing. Currently, the median price in LA County is $550,000, making the down payment needed to buy a home very high. The good news is, right now, we have a 1% down loan available. It comes from Freddie Mac's Home Possible program that requires 3% combined with a 2% grant from a nonprofit. This 2% grant doesn't need to be repaid, either.

Unlike FHA or conventional loans, this one doesn't require mortgage insurance.

A 680 FICO score is required, and your income should fall within the average median income of $62,000 in LA County, $61,400 in San Bernardino, or $85,000 in Orange County. If you fall into those parameters, you don't even need to be a first-time home buyer. You can even be a boomerang buyer—someone who had a foreclosure or short sale previously.

Another thing that makes this program great is that unlike FHA or conventional loans, you won't be required to have private mortgage insurance if you put less than 20% down. That can save you a lot of money in the long run.

If you want to learn more about this program, talk to your lender soon. If they don't offer it, don't hesitate to give me a call or send me an email. I'd be glad to refer you to many lenders who offer this program at this time. I hope to hear from you soon!

Does the Election Affect the Southern California Market?


How does the election impact the real estate market? I ran some numbers to figure out exactly how the election affects our area.



How does the election impact the real estate market? I ran some numbers to figure out exactly how the election affects our area. 

What’s in store for the real estate market during this election? I ran the numbers and compared September 1st to October 15th in 2015 to the same time period this year to measure what (if any) impact the election has had on the Southern California market. 

In 2015, 2,570 units sold between the 1st of September and the 15th of October. This year, only 2,483 units sold, so there was a slight drop in sales, 3.4% drop in the number of units sold. However, homes are also selling faster this year than they did last year. In 2015, the average days on market was 58, and this year, it’s 57. 


Not only are homes selling faster this year, they are also selling for more money. The average price in September of 2015 was $559,000; this year, the average price is $589,000, which is a 5.4% increase in home value
The good news for buyers is that interest rates have dropped from 4% to 3.5%. 

So, regardless of what has been happening in the European, Japanese, or Chinese economies, the U.S. real estate market has continued on. This negative election cycle has not negatively affected our market. Trends in the real estate market still follow the basic economic principle of supply and demand. 

The real estate market relies on supply and demand, not politics.

The reason there was a drop in units sold year over year is that we have lower inventory this year than we did in 2015. Prices have increased by 5.4%, which is a hefty increase, so now is a great time to put your home on the market. Now is also a great time to buy a home and take advantage of those low, 3.5% interest rates. 

If you have any questions about buying or selling a home in our current market, just give me a call or send me an email. I would be happy to help you!

This Is Where Our Market Is Heading


Our real estate market operates in seven- to 10-year cycles. We are in year six from the last downturn, so we are keeping a close eye on any changes in the market.

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Real estate markets operate in cycles. Most of these cycles last seven to 10 years. The first one I experienced started in 1983 and lasted until 1990. In 1983, the market was normal. In 1986, we saw a big decrease in interest rates, which dramatically increased affordability and also led us to a big wave of refinances. Then in 1990, things started all over again.


No matter who wins the election, interest rates will likely go up.

The last recovery we had stopped in 2011, so we are six years removed from that. This cycle has been very interesting because the seventh year will fall under a new presidential administration. Who knows what will happen. One thing we do anticipate no matter who wins is that interest rates will start to increase.

As for our current market, we are seeing lots of positive trends. We took the numbers from January 1 to July 31, 2015, and compared them with the numbers from the same time frame in 2016. Overall, the average price of a home is up slightly, from $570,000 last year to $576,000 this year. Here’s what has been happening in a few specific markets.

In Chino Hills, we saw a lot of positive signs. From January 1 to July 31, 2015, there were 509 homes sold for an average price of $607,000 in an average of 65 days. For the same time period in 2016, the average price increased to $623,000 representing a 2.5% increase in value and the number of sales and the average days on market stayed pretty much the same. 

Another market we looked at was Arcadia. We are seeing the opposite happen here. In 2015, they had 365 home sales for an average of $1,372,000 in 66 days. This year, home sales dropped to 349, the average days on market increased to 69, and the average home price dropped by 3% to $1,295,000.

One more thing I wanted to mention is that I would love the chance to meet up with some of you in October to talk about real estate investing and what your plans for next year are. If you are interested in meeting up, give me a call or send me an email. I would love to hear from you. I’m also always here to answer any questions you may have.