Today I heard an interview with Ben Carson, Secretary of HUD and I really liked what he had to say about the Real Estate market!  The economy is already starting to turn around and the workforce is starting to get back to work! Over 1 million jobs gained last week!  Yes life in Glendora and anywhere in the San Gabriel valley, most likely, will never be the same again but with responsible and prudent guidelines we will be able to move forward and maintain a stable market.

Interest rates are expected to remain low at least through 2022 to to help protect property values and try to avoid a repeat of 2008.  The Glendora Real Estate market  has generally been very stable and in high demand due to the low crime in the city and great school district.  We need to remain optimistic and with the help of low interest rates, people going back to work and the resilience of the American people Glendora Real Estate should remain in good shape!

Real Estate is one of the mot important sectors of our economy and it is the base of the “American Dream” and we don’t ever want that to be lost.

The Commercial Real Estate market in the San Gabriel Valley has been changing steadily, in the past years investors have made billions of dollars investing in our community as the economy grew, however, since the outbreak of COVID-19 things will most likely slow down or come to a screeching halt!.  The cities of Glendora, San Dimas, La Verne, Covina have been showing increase of leasing space and a slight drop in lease rates a well as a slow down in the amount of closed sales in the area.

Investors are staying on the sidelines and being cautions when deciding on purchasing Commercial Real Estate due to the fact that unemployment is an all time high and many business remain uncertain of their ability to continue doing business.  But not all is bad, many companies have adapted and moved to run their business from home, taking advantage of technology like Zoom.com, facetime or Facebook video for group meetings to continue operating their business.

Until we are able to get back to work we will not know how far of a contraction we will have in the Commercial Real Estate arena… only time will tell and we have to be patient.   Remember, things are not always bad for all… because as a result of these uncertain times there will be many opportunities that will come up in the Valley in the near future!