RC CitizenView

During the past few weeks, multiple offers on homes that sat on the market for months – caused in part by investors pouncing on underpriced bank-owned homes – may have signaled a change in the housing market, perhaps a “bottoming out” of prices. Buyers, especially first-time home buyers, are discovering that rising interest rates offset lower prices and now are intensifying their home search.

Homes Sold: Eleven previously-owned homes closed escrow in Rancho Cucamonga, CA, during the week ending August 9, 2008, and 31 Rancho Cucamonga homes reportedly were listed as pending during the week, according to the Inland Multi-Regional Multiple Listing Service, which shows listings and sales of previously-owned homes reported by real estate professionals in the Inland Empire.
Homes for Sale: The MLS said 42 new Rancho Cucamonga listings were added during the week, for a total inventory of 817 previously-owned homes listed in Rancho Cucamonga on August 10, including 536 single-family homes with no monthly fees and 281 condominiums, town homes and single-family homes in associations. The MLS listings indicated 292 of homes currently on the market were vacant. Of the homes for sale in Rancho Cucamonga, 250 were listed as “short sales” and 117 were being sold by the lender, according the MLS listing information.

Homes for Lease: As of August 10, the MLS reported, 118 Rancho Cucamonga homes were available for leasing. Of those, the median monthly rental price was $2,200.

Please click on http://marketreport.ilajosephs.com to see local sales statistics for June 2008.

Ila prepares weekly market activity reports for her website, http://www.ilajosephs.com, surveying the cities of Chino, Claremont, Fontana, La Verne, Montclair, Ontario, Pomona, Rancho Cucamonga, San Dimas and Upland.

Whether you are buying or selling real estate in cities along the 210 Freeway from San Dimas to Fontana, or in Ontario, Montclair or Chino, Ila and her team of experienced professionals will be happy to assist you.