Michael Toledo
909 821 7958909 821 7958
Meet the Agent

Coldwell Banker Top Team - 01238581

Michael Derrick Toledo is a Southern California professional realtor with Coldwell Banker. He was born and raised in Los Angeles. He’s earned a Bachelors degree from Cal State Los Angeles and a Master’s degree from Cal State San Bernardino. Michael is a family man with a devotion to god, his beautiful wife, four children, and two grandchildren. An athlete by nature who enjoys coaching both baseball and softball.

His primary focus is educating you and your family to make the best informative decision for your family’s biggest investment. He’s worked every aspect of the Real Estate industry representing sellers, buyers, investors, and banks, in both the residential and commercial market.

Michael is exceptionally well-respected with his peers and clients for performing his duties with integrity and high ethical standards. You will never be sold, you will be educated.

Coldwell Banker Top Team - 01238581 15348 Central Ave Chino CA, 91710 909 821 7958 Mike@411Property.com
  • Latest Real Estate

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  • Lack of Homes for Sale Slowing Down the Housing Market

    The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up. Home sales are up. Distressed sales (foreclosures and short sales) have fallen dramatically. It seems that 2017 will be the year that the housing market races forward again.

    However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the winter, supply is not keeping up.

    Here are the thoughts of a few industry experts on the subject:
    National Association of Realtors
    “Total housing inventory at the end of December dropped 10.8%…which is the lowest level since NAR began tracking the supply of all housing types in 1999. Inventory has fallen year-over-year for 19 straight months and is at a 3.6-month supply at the current sales pace.”

    Jonathan Smoke, Chief Economist for Realtor.com
    “More than two-thirds of the markets are seeing less inventory now compared to a year ago.”

    Lawrence Yun, Chief Economist at NAR:
    “The dismal number of listings in the affordable price range is squeezing prospective first-time buyers the most. As a result, young households are missing out on the wealth gains most homeowners have accrued from the 41% cumulative rise in existing home prices since 2011.”

    Sam Khater, Deputy Chief Economist at CoreLogic
    “The lack of affordable supply is really driving up home prices.”

    Peter Muoio, Chief Economist at Auction.com
    “Tight housing inventory remains a constraining factor limiting stronger sales growth…

    We expect further price growth to entice more homeowners to list their homes, particularly as existing homeowners have greater equity.”

    Bottom Line
    If you are thinking of selling, now may be the time. Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price.

    Thinking of Making an Offer? 4 Tips for Success

    So you’ve been searching for that perfect house to call a ‘home,’ and you finally found one! The price is right, and in such a competitive market that you want to make sure you make a good offer so that you can guarantee your dream of making this house yours comes true!

    Freddie Mac covered “4 Tips for Making an Offer” in their latest Executive Perspective. Here are the 4 Tips they covered along with some additional information for your consideration:

    1. Understand How Much You Can Afford

    “While it’s not nearly as fun as house hunting, fully understanding your finances is critical in making an offer.”

    This ‘tip’ or ‘step’ really should take place before you start your home search process.

    As we’ve mentioned before, getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and will allow you to make your offer with the confidence of knowing that you have already been approved for a mortgage for that amount. You will also need to know if you are prepared to make any repairs that may need to be made to the house (ex: new roof, new furnace).

    2. Act Fast

    “Even though there are fewer investors, the inventory of homes for sale is also low and competition for housing continues to heat up in many parts of the country.”

    According to the latest Existing Home Sales Report, the inventory of homes for sale is currently at a 3.6-month supply; This is well below the 6-month supply that is needed for a ‘normal’ market. Buyer demand has continued to outpace the supply of homes for sale, causing buyers to compete with each other for their dream homes.

    Make sure that as soon as you decide that you want to make an offer, you work with your agent to present it as soon as possible.

    3. Make a Solid Offer

    Freddie Mac offers this advice to help make your offer the strongest it can be:

    “Your strongest offer will be comparable with other sales and listings in the neighborhood. A licensed real estate agent active in the neighborhoods you are considering will be instrumental in helping you put in a solid offer based on their experience and other key considerations such as recent sales of similar homes, the condition of the house and what you can afford.”

    Consider ways of making your offer stand out! Many buyers write a personal letter to the seller letting them know how much they would love to be the new homeowners. Your agent will be able to help you figure out if there are any other ways your offer could stand out above the rest.

    4. Be Prepared to Negotiate

    “It’s likely that you’ll get at least one counteroffer from the sellers so be prepared. The two things most likely to be negotiated are the selling price and closing date. Given that, you’ll be glad you did your homework first to understand how much you can afford.

    Your agent will also be key in the negotiation process, giving you guidance on the counteroffer and making sure that the agreed-to contract terms are met.”

    If your offer is approved, Freddie Mac urges you to “always get an independent home inspection, so you know the true condition of the home.” If the inspection uncovers undisclosed problems or issues, you can discuss any repairs that may need to be made, with the seller, or cancel the contract.

    Bottom Line 

    Whether buying your first home or your fifth, having a local professional on your side who is an expert in their market is your best bet to make sure the process goes smoothly. Happy House Hunting!

    3 Tips for Making Your Dream of Buying a Home Come True

    Some Highlights:
    Realtor.com recently shared “5 Habits to Start Now If You Hope to Buy a Home in 2017.”
    Setting up an automatic savings plan that saves a small amount of every check is one of the best ways to save without thinking a lot about it.
    Living within a budget now will help you save money for down payments and pay down other debts that might be holding you back.

     

    Average Down Payment

    Homeowner’s Net Worth Is 45x Greater Than A Renter’s

    Every three years, the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).

    In a Forbes article, the National Association of Realtors’ (NAR) Chief Economist Lawrence Yun predicts that by the end of 2016, the net worth gap will widen even further to 45 times greater.

    The graph below demonstrates the results of the last two Federal Reserve studies and Yun’s prediction:

    Put Your Housing Cost to Work for You
    As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth. Every time you pay your rent, you are contributing to your landlord’s net worth.

    The latest National Housing Pulse Survey from NAR reveals that 85% of consumers believe that purchasing a home is a good financial decision. Yun comments:

    “Though there will always be discussion about whether to buy or rent, or whether the stock market offers a bigger return than real estate, the reality is that homeowners steadily build wealth. The simplest math shouldn’t be overlooked.”