August 13, 2014 by Leave a comment

Pomona, Calif., was named in 1875 when the Roman goddess of fruit, “Pomona,” was deemed the best entry in the city’s naming contest. Interestingly, this was before any fruit trees were planted in the city: Pomona’s present fruitful abundance came later.

Located west of the Inland Empire in the Pomona Valley, the city is usually considered a suburb of Los Angeles and many people who live in the city commute to the major metropolis. Pomona has a warm climate year-round and summers get noticeably hotter here than in other parts of California.

One of the most fun things to do in town is to visit the Fairplex’s 543 acres of scenic gardens, especially during the month of September when the city hosts the L.A. County Fair, an exciting mixture of concerts, picnics, great food and fairground rides.

Pomona has a healthy housing market and a median home sales price of $308,000, representing a 22.2 percent increase since February. Pomona’s proximity to Los Angeles (about a 40 minute drive) and its relatively healthy economy means that the housing market here has been able to recover from its 2009 low and values have increased quite sharply since 2012.

Are you looking to purchase a new home?  Rates are close to the lows of the year, and you may be able to lock in a low rate for many years to come. Call us today to get a free rate quote or to speak with one of our licensed mortgage professionals.  

One of Pomona’s nicest and most popular neighborhoods is Phillips Ranch, a master-
planned community developed in 1965 and located in the southwest part of the city. The average listing price of homes here is $525,317. Just north of Phillips Ranch is a historic, Second Empire home known today as the Phillips Mansion after its original owner, a wealthy rancher. Interestingly, some bricks from the Phillips Mansion were buried in a time capsule at the entrance to the Phillips Ranch community in 1981: a real meeting of the old and the new.

Other good neighborhoods in Pomona include Ganesha Hills and Lincoln Park. If you’re looking for something just outside the Pomona city limits, consider Claremont, Diamond Bar, San Dimas or La Verne, all very safe, small-sized cities in the Pomona area.

What kind of mortgage payments can you expect to make in Pomona? The Zillow mortgage calculator currently gives 30-year fixed-rate mortgage rates in the area ranging from 4.26 to 4.43 percent. Based on these and an average Pomona property, you’re likely to pay between $1,194 and $1,230 per month.

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