Pomona, California

For Pomona, CA, the annual median household income is $48,993.

In the city of Pomona, California the home value median is $418,200. 10.5 percent is the amount home values have gone up in the last year. Within the following year it has been predicted that home values will go up 10.1 percent.

Wow! Just think of it – with this kind of increase:

1. If it continued at this rate, it would be around 6 to 7 years, and home prices would double.
2. For those who want to purchase a home (especially first time home buyers), being able to come up with the down payment and income requirement could be very difficult.

Continuing with the real estate numbers on Pomona, $304 is the per square foot list cost median. The Los Angeles-Long Beach-Anaheim Metro area has a higher per square foot list cost average of $425.

For houses presently listed in Pomona, $429,400 is the home cost median. For houses that have been sold, $409,600 is the median cost.

In Pomona, $2,095 is the rent cost median. The Los Angeles-Long Beach-Anaheim Metro area has a much higher rent cost median of $3,100.

When it comes to the realty economy, the foreclosure rate is a factor. How does this work? The lower the foreclosure rate, the higher the value of the property. When purchasing properties it is important to check on the foreclosure rate for the area you are purchasing the property.

In Pomona, California, for every 10,000 houses, 1.0 houses go through foreclosure. This is a higher foreclosure rate than The Los Angeles-Long Beach-Anaheim Metro area which has 0.9 houses foreclosed for every 10,000 houses. The United States has a foreclosure rate of 1.6.

Concerning the foreclosure process, the first thing that happens is mortgage delinquency. Mortgage delinquency occurs when the person who owns the home does not come through on making a payment on their mortgage.

In the city of Pomona, 1.6 percent is the percentage of delinquent mortgages. The United States has a 1.6 percent mortgage delinquency rate.

The homes in our nation fell a greater amount than 20 percent as a result of the 2008 recession. As a result of this recession, quite a few home owners are experiencing being underwater concerning their mortgages.

When a home owner is underwater concerning their mortgage, it means that they have a debt on their mortgage that is larger than the worth of their house. In the city of Pomona, 6.7 percent of owners of houses are experiencing being underwater regarding their mortgages.  The Los Angeles-Long Beach-Anaheim metro area has a lower homeowner underwater rate of 5.6 percent.

For Pomona, CA, the annual median household income is $48,993.

When it comes to Pomona commercial real estate, there is a redevelopment project taking place at the historic 80,000 square foot YMCA which had been constructed in 1920. It has the distinction of being listed with the National Registry of Historic Places.

At 350 N. Garey Ave., the property consists of 2 existing buildings that are free-standing, and purchased at the price of $2.65 million. The plan is for the property to be restored to its previous magnificence. Also plans include creative offices that are newly designed, concert design that is state of the art, venues of special events, as well as a coffee bar café, and for the community – a lounge.