The summer is winding down, vacations are behind us and kids are getting ready to return to school. We hope everyone enjoyed their summer, however it was spent. We are getting increased requests for market analysis from many Fairfield Ranch residents. Often times people are surprised to learn of foreclosures and REO's that are impacting the property values in Fairfield Ranch. Everyone can stay current on the situation by simply checking the public notices in the papers (The weekly Chino Hills Champion is a great source).

Although you might not know it, all the news is not gloomy. The most recent report from the California Association of Realtors (C.A.R.) shows Chino Hills' median home price increased to $597,500 in July 2007 from $593,500 in July 2006 (0.7 % increase). While this might not seem like much, if you compare it to results from other cities in our area, our home values are holding up quite well.

Chino (-6.3%)

Corona (-5.2%)

Diamond Bar (-1.4%)

Pomona ( - 5.8%)

San Dimas (-10.3%)

Although we are definitely in a buyers market, resulting in fewer transactions than last year, Chino Hills is a very desireable place to live and that is reflected in the relative stability of our median home price.

Fairfield Ranch Update

We thought we would give everyone an update of market activity. Current MLS inventory shows 21 homes actively listed for sale in Fairfield Ranch. Prices range from a low of $500,000 to a high of $759,900. There are four properties in escrow at this time. Year to date MLS closed sales show 25 properties sold this year. Price range from a low of $490,000 to a high of $670,000. The above date was gathered from MRMLS listings and does not include any foreclosure or private transactions. As always, please feel free to contact us for any specific questions.

Market Update

Chino Hills homes sales fell 12% in the month of July. 58 sales closed in July 2007 compared to 66 sales closed in July 2006. Available inventory remains high with 369 homes currently active on the MLS in Chino Hills. The number of foreclosure and short sale properties on the market continue to grow. In addition we are seeing increased levels of appraisals reviews of those properties that are in escrow. All of this indicates the critical importance of pricing when listing your home for sale. The properties that offer value and are reasonably priced, are still selling!