House Hunting
2022 brought us one of the biggest market shifts in real estate history. With interest rates that dropped to record-breaking lows and a shortage of inventory that couldn’t keep up with the sudden influx of buyers, home prices skyrocketed. It was a phenomenon even our team has never seen in our 20+ years of business!
Now, we are finally seeing the market return to the “previous norm”. No longer are 100+ buyers lined up to see one house, with each listing getting over 30 offers, causing a bidding war.
But with this shift, people are having to adapt to the new market.
Homeowners who were expecting to get the results we saw pre-May and overpricing their home are now realizing that it’s costing them. More and more, homes on the market are getting price reductions and the average days on market climbed to over 40 days. (As a seller, this is why it’s crucial to have an agent who understands the local market and how to effectively navigate it.)
As a buyer, this is great news! It’s the perfect opportunity to get a great deal on a home while there is less competition. So this week, we put together a list of 5 beautiful homes in Chino and Chino Hills that had a price reduction in the last week!
Price cut: $25,000
4 bedrooms, 3.5 bathrooms, 2,160 square feet
Joseph Mariles DRE #01948010, RE/MAX CHAMPIONS
Price cut: $3,000
4 bedrooms, 3.5 bathrooms, 2,160 square feet
Joseph Mariles DRE #01948010, RE/MAX CHAMPIONS
Price cut: $20,000
3 bedrooms, 3 bathrooms, 1,450 square feet
Listed by: Ben Braksick DRE #02120512, OPENDOOR BROKERAGE INC
Price cut: $18,000
4 bedrooms, 3 bathrooms, 1,792 square feet
Listed by: Jackie Homrighausen DRE #02006098, Coldwell Banker Realty
Price cut: $20,000
4 bedrooms, 2 bathrooms, 1,113 square feet
Listed by: Steve Anz DRE# #01431222, Ska Real Estate
Any of these catch your eye or want something different?
The team at Park Group Real Estate is eager to help you every step of the way. Whether you’re thinking of selling your old home to upgrade to something new, entering the real estate marketplace for the first time, or just wanting more info on buying or selling, we’re here to answer all your questions. Don’t hesitate to reach out and let us know your plans!
All listings courtesy of CRMLS.
Want to know more about what it's like to live in Chino Hills? We're experts in the area. Give us a call at 909-696-6540 to learn more.
