Since May 2013 the inventory in the San Gabriel Valley and Inland Empire has steadily been increasing while closed sales have remained consistent.  In September 2013 the available homes for sale reached 3,118 in the San Gabriel Valley and Inland Empire.  Closed home sales dropped to 1,549.  The increase in inventory might slow down the multiple offers and give buyers a chance on getting their offers accepted. 

Our Supply Vs. Demand data is pulled from the Multiple Listing Service and covers the following cities:  Azusa, Baldwin Park, Chino, Chino Hills, Claremont, Corona, Covina, Diamond Bar, Fontana, Glendora, Hacienda Heights, Industry, La Puente, Valinda, La Verne, Montclair, Ontario, Pomona, Phillips Ranch, Rancho Cucamonga, Rowland Heights, San Dimas, Upland, Walnut, West Covina and Whittier.

Direct Lenders Pre-Approval Letter

If you're thinking of purchasing a home within the next year, it's a great idea to contact a Direct Lender to get pre approved for a loan.  Even if you're six months to a year away from your purchase, it's worth starting the process. This will not only give you an idea of what you qualify for and what down payment options are available, the process will also inform you of any qualification problems.  

Some of the problems we run into with buyers are low credit scores, debt to income issues, business owners, corporations and self employed buyers.  It's a great idea to find out about these possible issues well in advance so you have plenty of time to work on gathering the proper paperwork and work out any issues that might arise.

Below, please find a list of the items that the lender will request for a home loan pre qualification.

A)1 month of pay stubs
B)W2s for last 2 years
C)Tax Returns for last 2 years
D)2 Month's bank statements

If you are self employed and the business is a partnership or corporation:

A)K1s for last 2 years
B)Corporation or Business returns for last 2 years

November 2012 Supply Vs Demand - San Gabriel Valley,Los Angeles County & Inland Empire

Ending November 30, 2012 we are down to 1.6 months of inventory.  This means that if another house was not listed, we would run out of inventory in 1.6 months.  We had 1,715 houses close escrow in the month of November for the cities listed below.  As you can see our inventory has been steadily decreasing for at least a year, while closed sales/demand has stayed consistent even during the holidays.  We are noticing multiple offers on properties that are listed at market value, especially if they're  are priced under $500,000.  This is putting some upward pressure on prices.  We are noticing more and more appraisal issues as buyers are willing to offer over the comparable closed sales in the area in order to get their offers accepted.  If a house is listed in today's market there is over an 80% chance that it will sell.  In November 2012 it appears that Rancho Cucamonga, Fontana & Chino Hills take the top 3 spots for the highest percentage of homes closed vs active available properties for sale.

Our Supply Vs. Demand data is pulled from the Multiple Listing Service and covers the following cities:  Azusa, Baldwin Park, Chino, Chino Hills, Claremont, Corona, Covina, Diamond Bar, Fontana, Glendora, Hacienda Heights, Industry, La Puente, Valinda, La Verne, Montclair, Ontario, Pomona, Phillips Ranch, Rancho Cucamonga, Rowland Heights, San Dimas, Upland, Walnut, West Covina and Whittier. ***Data now pulled from Carets***

October 2012 Supply Vs Demand Los Angeles County & Inland Empire

The housing inventory in Los Angeles County & Inland Empire drops again in October 2012 while closed sales increase.  Back in January 2012 we had approximately 3.9 months of available inventory and today we have 1.2 months of available inventory.  Pomona, La Verne & Fontana  closed more houses than were listed in October.  At the end of October, Pomona had 111 active porperties for sale while San Dimas had 44 available houses to choose from.  Homes priced close to market value continue to recieve multiple offers the first week on the market.

Our Supply Vs. Demand data is pulled from the Multiple Listing Service and covers the following cities:  Azusa, Baldwin Park, Chino, Chino Hills, Claremont, Corona, Covina, Diamond Bar, Fontana, Glendora, Hacienda Heights, Industry, La Puente, Valinda, La Verne, Montclair, Ontario, Pomona, Phillips Ranch, Rancho Cucamonga, Rowland Heights, San Dimas, Upland, Walnut, West Covina and Whittier. ***Data now pulled from Carets***

Sept. 2012 SGV & Inland Empire Supply Vs Demand

September 2012 - Supply in the San Gabriel Valley & Inland Empire dropped again in September to 2,402 units for sale while closed sales dropped to 1,518 units closed.    We are currently showing a 1.6 Month Supply of Inventory.  This basically means that if no other listings came on the market and we continued with our monthly closings of 1,518 we would be out of inventory in 1.6 Months compared to November 2011 in which we had 3.9 Months worth of supply.

While looking at individual cities, Fontana tops the list with 96% of homes closed compared to total active listings.  Fontana showed 182 total active listing and 174 closed units in September 2012.  Rowland Hieghts is at the bottom of the list of percentage of homes closed at 29%.  Our data shows 68 active units with 20 closed sales in Sept.

Our Supply Vs. Demand data is pulled from the Multiple Listing Service and covers the following cities:  Azusa, Baldwin Park, Chino, Chino Hills, Claremont, Corona, Covina, Diamond Bar, Fontana, Glendora, Hacienda Heights, Industry, La Puente, Valinda, La Verne, Montclair, Ontario, Pomona, Phillips Ranch, Rancho Cucamonga, Rowland Heights, San Dimas, Upland, Walnut, West Covina and Whittier. ***Data now pulled from Carets***

August 2012 San Gabriel Valley & Inland Empire Supply Vs Demand


Aug 2012 - Supply in San Gabriel Valley & Inland Empire dropped again in August 2012 to 2,651 units for sale while closed sales increased to 1,956.  Per MLS data we have 1.3 Months of Inventory compared to 4 Months back in October 2011.  Available inventory has consistently dropped month after month while demand has stayed consistent.  This is creating multiple offers on listings that are priced close to market value.

Our Supply Vs. Demand data is pulled from the Multiple Listing Service and covers the following cities:  Azusa, Baldwin Park, Chino, Chino Hills, Claremont, Corona, Covina, Diamond Bar, Fontana, Glendora, Hacienda Heights, Industry, La Puente, Valinda, La Verne, Montclair, Ontario, Pomona, Phillips Ranch, Rancho Cucamonga, Rowland Heights, San Dimas, Upland, Walnut, West Covina and Whittier.

For the last year the San Gabriel Valley and Inland Empire housing inventory has been steadily decreasing while demand has stayed consistent.  In September 2011 we had approximately 4 months of inventory left, meaning that if there were no more houses listed for sale from that point on, we would run out of available houses in 4 months.   By the end of July 2012 our inventory was cut by more than half to 1.6 months of available inventory.    Homes that are listed at or close to market value are receiving multiple offers.  At the close of July 2012 our market place per MLS data had 2,835 available properties and July closed sales of 1,738.   

Our Supply Vs. Demand data is pulled from the Multiple Listing Service and covers the following cities:  Azusa, Baldwin Park, Chino, Chino Hills, Claremont, Corona, Covina, Diamond Bar, Fontana, Glendora, Hacienda Heights, Industry, La Puente, Valinda, La Verne, Montclair, Ontario, Pomona, Phillips Ranch, Rancho Cucamonga, Rowland Heights, San Dimas, Upland, Walnut, West Covina and Whittier.