Thursday, May 14, 2015

Real Estate in Yucaipa; The Data Doesn't Lie!

"Oh...you're in Real Estate?  So how's the market?  It's good. Right?"   

 

If I had a nickle for every time I heard that remark...I'd be a rich man.  But, what is "Good"?  If you're an investor looking to snap up distressed properties for pennies on the dollar, you might think a down market is "Good". If you own a home and hope that the equity you're building becomes your retirement, an increase in home values is "Good".  Data, on it's own, isn't inherently good or bad.  It's just the truth.  So here's the simple truth. 

We're often inundated with News, but more often than not this news has nothing to do with us or where we live. For this post, I personally pulled this local, Yucaipa specific market data in an effort to give homeowners in Yucaipa accurate, concrete market information.  This is not my opinion.  It's not some random journalist out of Washington regurgitating someone else's ideas.  It's not good or bad.  It's just the truth.  

First, let's take a look at the general trends, then I'll point out a few items that I see as important with regard to home values in Yucaipa...and where things are headed in the near term.  
The above listed data is for Detached, Single Family Residences in Yucaipa, California only. 
There are several things I'd like to point out about the graph above.
  1. Red is (median) what people ASKED for their homes.  Blue is (median) what they actually received.
  2. The beginning of the graph illustrates a decrease in home values; the 'end' of the housing bust.
  3. In 2011 and beyond we see aggressive recovery of the local real estate market.
  4. When the market was "bad" people listed their homes more realistically.  The gap between Asking and Sold was closer. As the market increased...so did home sellers' optimism and aspirations.  Note the increase in the gap between the blue and the red as median home values increased.
  5. At NO point was the median asking price at or below the median sold price.  (sellers virtually always think their homes are worth more than they are.)
  6. If you had to forecast the where the blue curve was heading over the next 1 to 5 years where do you see it going?
Finally, below is the proof.  If you want to geek-out on data, the screenshots below show the criteria used to secure the data needed for the simple line graph above. 







I say and write this often, "Don't wonder! ASK!"  

Thanks in advance for remembering my name when the topic of Real Estate comes up in conversation.  If you're local , just remember Andy@LoisLauer.Com I'm always here to help.  


My business thrives by word of mouth.  If you appreciate the information provided on my blog, please share this post on your favorite social media sites, and with anyone you feel could use my service.

Until next time.


















Andy Blasquez  Cell ~ 909.539.3292
BRE#01826135
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E-mail me on Andy.Blasquez@gmail.com

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