Inland Empire participates in the Rose Parade

December 31, 2006

The annual Rose Parade has been for millions of people the defining start of a new year. Sure, the parties on New Year's Eve and the New York Times Square celebration do welcome in the New Year, but on the morning of January 1 approximately 1 million people will line the streets of Pasadena to watch the 118th parade. Millions more (myself included) will be watching on national television.

The parade, which starts at 8:00 A.M. will find the Inland Empire well represented. The University of Redlands will have a spectacular float, designed by Larry Crain and Raul Rodriguez, will be entry number 20. It will be just behind the band and float entries for the Rose Bowl game contestants and in front of the Tournament of Roses' Honor Band. While the U of R float may be a spectacular participant in the parade, the cities of Ontario and Palmdale are also sponsoring floats in the parade. Riverside King High School was one of the lucky bands to be selected for marching in the parade.

Have a safe evening celebration and tune in to one of the many channels on which the parade will be broadcast. And for those of you not presently living in Southern California, look at the beautiful weather and when you decide to escape the ice and snow, call us at Century 21 Lois Lauer Realty and we will find you your dream home. Happy New Year !

Feedback Needed

December 30, 2006

If you read the daily newspapers, or listen to talk radio you have heard some expert analysing the real estate market in 2006 or predicting the real estate market in 2007. One says the bubble burst, another says the market "normalized". Depending on which expert you give the most credance to, you will be optomistic or pessamistic about the real estate marketplace.

For those of us at Century 21 Lois Lauer Realty, it has been a transitional year in the real estate marketplace of the Inland Empire. However, if you read my blog of yesterday, you will note that houses still sold. In the 30 years that we have been a company, we have experienced many up and many down markets. Our agents have managed to help homeowners in all economic cycles.

We would like to hear from the public about their perception of the real estate market in 2006 and their view of the future market of 2007. Knowing how buyers and sellers are seeing the market would help us to help them.

Click on the comment button and send me your opinion.

2006 Market Data

December 29, 2006

I decided to take a look at the statistics on closed sales in some of the Riverside/San Bernardino County cities where Century 21 Lois Lauer Realty focuses the company's real estate marketing.

The data comes from the IMRMLS and is based on reported closed single family transactions from January 1, 2006 through December 28, 2006.

In alphabetical order:

Banning/Beaumont............ 964
Fontana................................ 2454
Highland............................... 673
Loma Linda.......................... 172
Moreno Valley..................... 2907
San Bernardino................... 2624
Redlands.............................. 714
Riverside............................. 4460
Yucaipa................................ 670

In most all of these real estate markets, almost one half of all single family home sales were between $375,000 and $500,000.

This data's reliability depends on sales reported and is not meant to do more than present a broad brush look at the 2006 single family home market in our area.

California Homeowners' Insurance Rates lowered

December 28, 1006

Farmer's Insurance--California's second largest homeowners insurer--will lower its rates in the state by 18 percent, Joining State Farm, Safeco, Hartford, USAA, Nationwide and Kemper in heeding Insurance Commissioner John Garamendi's call for lower rates.

Farmer's rate cuts apply to the company's Special Form, Protector Plus, Renters and Condominium Owners policies, and are likely to take effect in June 2007, the Department of Insurance said in a statement.

After a study concluded that four of the state's insurer's were paying less than 50 percent of each premium dollar on claims, Garamendi in June 2006 ordered Allstate, State Farm, Farmers and Safeco Insurance to justify their homeowner rates. The study found that auto and homeowners insurers experienced historically low loss ratios in 2004 and 2005.

Here's hoping that these low loss ratios continue and that insurers will continue to keep the homeowner rates lower.

Fix-it tips

December 27, 2006

A Q and A feature from the NY Times News Service writer Peter Hotton has this tip for homeowners concerned about wear and tear on older porcelain-on cast iron plumbing fixtures:

For those scratches which develop over time, try rubbing them with an auto rubbing compound made by DuPont, or Never Dull Magic Wadding, sold in hardware stores or online. The compounds are designed for metals, and can work also on glass, Mr. Hotton suggests that they can be effective on those shallow porcelain scratches on tubs and sinks.

I checked GOOGLE to find out where Never Dull might be available. There are a number of sources listed as well as a site that explains what it is, what is in it and how to use it. I thought I would order some and report here after I use it how effective I found it to be. If you try it let me know your results.

If you are planning to sell in 2007....

December 26, 2006

If you are planning to sell your home in 2007, it would be wise to call a professional real estate agent. You might cynically say "Oh sure". However, 2006 was a transitional year for the real estate market in Southern California and perhaps nationwide. Gone are the days when putting a "For Sale" sign in your yard brought several qualified buyers ready, willing and able to purchase your home at your asking price or better. Buyers in 2006 had more choice and became much pickier about the condition of the property. Inspection often triggered cancellations if repairs could not be negotiated.

SO....

Invite a professional realtor to walk though your home and make recommendations as to what repairs you should do now and what improvements will make your home more competitive in a crowded market place. This is a service a professional agent is happy to provide and will prove
beneficial to the Sellers who pay attention to the advice given.

"It's a Wonderful Life"

December 25, 2006

It has probably been at least ten years since I have watched the classic Jimmy Stewart movie, "It's a Wonderful Life". Last night my family and I all decided to watch it and I was struck by its messages.

Putting your plans aside and helping others.
Providing the means for others to own theier own home. (Perhaps we forget what a revolutionary idea the Building and Loan movment was in the 1920s and 1930s. Perhaps we now take for granted we can obtain a loan .)
Owning a home released families from the tyranny of a "Mr. Potter"
And the most important: Family and friends are the heart and soul of what makes life wonderful!
From Century 21 Lois Lauer Realty "Have a blessed Celebration!"

Twas the day before Christmas

December 24, 2006

Twas the day before Christmas and all through the house
The creatures were stirring and making a feast.
There was baking and wrapping and hanging of tinsels
And CDs were playing those holiday carols

Soon families will gather and greetings will fly through the air
And Century 21 Lois Lauer Realty sends to all a holiday wish:
"Peace on Earth, Good will to all men.

It's a Great Time

December 23, 2006

From The National Association of Realtors:

Right now may be one of the best times to buy a home. Consider these facts:

INTEREST RATES NEAR RECORD LOWS
Today's rates are comparable to 40 year lows;

LARGE INVENTORY WON'T LAST FOREVER
We have had a record inventory of homes on the market in recent months, offering consumers the greatest choice in decades.

PRICES OVERALL HAVE STABILIZED
Contracts for home sales are up slightly and economists think they may be up 5-6% in 2007.

POSITIVE OUTLOOK
According to industry estimates, 2006 will be the third best year on record for home sales. The number of US households is expected to increase 15% during the next decade, creating a continued high demand for housing.

REAL ESTATE IS A GREAT INVESTMENT
Homeownership is a relatively safe, secure way to build long-term wealth.

DON'T DELAY
Now is a great time to buy or sell a home. Call Century 21 Lois Lauer Realty and they will
provide you with the tools to make that buying or selling decision.

Buying down an interest rate

December 22, 2006

A new report suggests that buying down the interest rate on your mortgage may not be the best strategy for borrowers. This study was co-aauthored by Abdullah Yavas, Wlliott Professor of Business Administration at Penn State's Snead College of Business, and Yan Chang of Freddie Mac. The two considered 3,785 individual mortgages originated from 1996 -2003, looking at points paid, interest rate and loan length.

Points paid to purchase a primary residence are deductible on your federal income-tax return in the year they are paid; points paid to refinance must be written off over the life of the mortgage.

The study found that only 1.4 percent of borrowers who purchased points held their loans long enough to make it pay off.

If you are considering paying the points to buy down an interest rate, it would seem wise to do the math. Figure the cost of the points. Figure the change in monthly payment and figure how many months it will take to recoup the cost. An experienced loan officer can give you the information you need to choose the best loan package for your situation.

A Gift Suggestion to the Homeowner

December 21, 2006

If you are a homeowner whether you are thinking of selling in 2007 or just want to make home improvements for your own enjoyment, here is a suggestion for a gift. "How to Increase the Value of Your Home" by Vicki Lankarge and Daniel J Nahorney is a light, easy-reading book. It is filled with information that homeowners, buyers and real estate agents will find valuable.

Virtually every possible improvement is considered. The details are amazing, such as the type of new siding to install on your home and the pros and cons. There is also a detailed explanation of "synthetic stucco" which is the subject of many lawsuits.

According to the authors, the criterion for deciding whether to make an improvement should be how much you will enjoy it as a homeowner. Interestingly, they suggest that if you are planning to sell your home in a year or so, most of these renovations won't be worth the cost and hassle.

However, the book offers many good suggestions and contains practical, easy-to-understand explanations of situations homeowners encounter when considering renovations.

The book may be ordered through amazon.com and is priced at $10.61 plus shipping.

Build Your Dream Home

December 20, 2006

Now that Southern California is having a bit oif a cold snap its wonderful to put a log in the fireplace, snuggle up and dream. While the holidays may be a great time to dream "visions of sugar plums" it might also be a fun time to dream about your future residence.

What would you really like that future home to be like? Would it have one fireplace or would there be other rooms with firplaces (bedroom, family room, etc.)?. Would you have a huge kitchen or a "step saver" kitchen? Electric or gas appliances? Would it be a one story or a two story or maybe even multiple stories? What style would it be; contemporary, colonial, cratsman,
spanish? Would it be an existing home in an established neighborhood or would you want a brand new home? So much fun to dream all these amenities.

Have fun and then you'll be better prepared to start a search for that property that matches your dreams.

Spread your blessings

December 19, 2006

December seems to be the season for partying! There are brunches and lunches and cocktail parties and dinner parties and dances. Many of thse events are used as fund raisers for charitable organizations. Many are just get-togethers with friends - new and old. Whatever the occasion, the pace of our lives seems to be on fast forward.

The holiday spirit can be spread in many places. Those bell ringers for the Salvation Army feel rewarded when the store patrons pause to slip some money in the kettle. Of course you can always make a donation. Check out the web site at www.salvationarmy.org. This years online "red kettle campaign" allows individuals and groups to host one of the Salvation Armt's famous red kettles, vitually.

The Boys and Girls Clubs (ww.bgca.org) provide after school care, arts and crafts classes, tutoring, sports and many other activities for young people. Check your local phone book if you want to send a check.

Anysoldier.com has wish lists and contact info for nearly 4,500 servicemen and women. They pack up a care bundle of books, magazines, chocolate and phone cards.

The agents at Century 21 Lois Lauer Realty just sent bikes and dolls and computer games to the San Bernardino County Chilidren's Fund. Another group, instead of a gift exchange, sent checks to Family Service. This saves looking for the $20 gift that probably won't be loved and gives some needful person a gift they would not have had.

Be creative and be charitable. It makes the holidays less hectic.

Generation X-ers (continued)

December 18, 2006

Yesterday I wrote of some mindsets that Generation X-ers may have in common . Continuing to look at this age group (born 1965-1976) there seem to be three behavioral characteristics that shape their actions.

1. Generation X Buyers demand that they get what they want the way they want it.
This age group grew up with prosperity, privelege, ample possessions, and instant
gratification. As consumers, they are motivated and have the skill and confidence to find
whatever takes their fancy in the market; but they want their own salesperson. -
someone to be their advocate and someone skilled in the buying process.

2. Generation X Buyers are accustomed to using technology to check out facts.
These buyers will do their own research. They know what they want and they
have the determination to find it. They seem to have a great belief that whatever they are
looking for can be found. They want the salesperson to give them facts and they will work out
how the facts fit their desired goal.

3. Generation X Buyers care deeply about how these "facts' are presented.
These buyes have grown up with computers and the Internet. They go online frequently and
trust that they will find the answers they are looking for online. Email or text messaging is
their preferred mode of communication. This generation is independent and rarely trusts
authority. They have worked to develop skills that put them in the driver's seat.

This is the next "leadership" generation. Will they have as profound effect on the economic environment as did the preceding generation of Baby Boomers?

Real Estate and Generation X

December 17, 2006

Generation X has been defined as those who were born between 1965-1976. As the Baby Boomers (1946-1964) move on to retirement age, Generation X-ers are beginning to put there mark on the American economy.

Many Generation X-ers have defined WHAT they want, and HOW they spend their money. Some prevailing views that they may have in common include:

*Independent - determined to behave as individuals, rather than as a group
*Disillusioned and sketical - not willing to accept on blind trust
*"Quality of Life" means high "fun" - without sacrifice
*Comfortable with change - accustomed to a fast pace and a lack of stability
*Not concerned about traditions or absolutes
*More sensative to people and desire lasting personal relationships
* Pragmatic and defensive
*Will not commit easily or quickly
* Flexible

While some of these characteristics seem somewhat hard for me to reconcile to a cohesive description of Generation X-ers, they could serve as a guide as to how they expect to be treated. I do wonder how one can be "disillusioned and skeptical and yet "more sensative to people and desire lasting personal relationships."

If you are a Generation X-er, post your comments about whether the above characteristics fit your point of view.

Tomorrow's blog will address how the Generation X-er might approach the purchase of a home.

Using the Web for real estate searches

December 16, 2006

A recent study by the Pew Foundation concluded that 39% of Internet users are looking for housing information online. This number has been growing steadily the last six years mostly due to more online sources for listings and real estate information. Six years ago Realtor.com, the site owned by the National Association of Realtors, pretty much controlled online residential listings. Today it seems that every week brings a new web site online to offer listings and home valuations.

Younger Internet users were more likely to seek housing information online than older Web users. Fifty-one percent of Internet users 18-29 years old have searched online housing information, compared with 43 percent of Internet users 30-49 years old, 27 percent of Internet users 50-64 years old and 15 percent of Internet users age 65 and older. The number of years a person has been an Internet user and the type of Internet connection they have at home were two other characteristics associated with the likelihood of seeking housing information online, according to the study.

Century 21 Lois Lauer Realty would be interested in receiving feedback from Internet users in our market area. How often do you search online for housing? Which Internet sites offering real estate information do you like best? Click on the "comment" button and type in your comments.

Riverside's "Live Building"

December 15, 2006

The bulldozer's performance on Saturday night (12/16/2006)will be the grand finale of a 12 day recycling project conceived by Jason Middlebrook, a New York based artist. When the decision was reached that theWurms Janitorial Service building on Main Street in Riverside would be knocked down, the UCR/Artsblock was initially looking for an artist to do something to this building. Middlebrook saw an oppportunity to salvage something from the building. So far several unconventional benches and a table, each built and designed by an individual, have emerged. Basically the wood is coming from roof timbers.

"In this project at least there will be a memory, a sense that the building didn't just go into a landfill." says Middlebrook. These "historic" pieces are available for sale. Check them out and come Saturday evening, the at 7:30 to the grande finale as the bulldozer knocks down the building amid a crashing of falling bricks, stucco, wood and metal.

Riverside Redevelopment in collaboratin with UCR continues to improve the downdown pedestrian mall.

A Great Gift Idea

December 14, 2006

The Sun Newspaper has been advertising a photo essay book about our mountains. Written by Ann and Farley Olander, it is a personal account of the mountains' appeal. It would make a great gift to friends and relatives and spotlights the beauty of our area. It has been awarded the Independent Publisher Regional Non-Fiction Book of the Year Book Award.

Century 21 Lois Lauer Realty has always been an advocate of the natural assets that our region offers to residents. This book can be a great marketing tool for selling the region as a great place to live. The Riverside/San Bernardino Valley area is scenically enhanced by the surrounding mountains. These vista have long had an economic impact as home buyers have been willing to pay a greater premium for a "View Site".

"Call of the Mountains" explores our scenic mountain ranges and provides great photgraphs of some less familiar mountain venues. It can be purchased at the Sun Office, located at 2239 Gannett Parkway, San Bernardino, CA 92407 which is open M-F from 8 a.m. to 5:00 p.m.
You could also mail a request to Call of the Mountains, c/o San Bernardino Sun, PO Box 9400, San Bernardino, Ca 92407-9400. The price of $34.95 includes tax and shipping and handling.

New Tax Breaks for Mortgage Insurance

December 13, 2006

From an Inman News article:
Households with annual income of $100,000 or less can get a tax break on their mortgage insurance when purchasing a home in 2007.

Mortgage insusrance is a lender requirement for loans with less than 20% down payment and the premium paid was not considered a deductible expense.

However, effective January 1, 2007 a new tax deduction will allow buyers to write off the full cost of theier private mortgage insurance on their federal tax return.

"Making the cost of mortgage insurance tax deductible helps those who need it most: low and moderate income Americans, primarily first time home buyers, who are financially responsible but simply don't have the means too amass a 20% down payment," said Mortgagae Insurace Companies of America president Steve Smith ina statement this week.

The deduction applies to private and government mortgage insurance programs, such as FHA backed loans. The deduction can only be claimed for mortgage insuracne contracts between January 1 and December 31, 2007. Additional legislatin would be required to allow those who purchase mortgage insurance after 2007 to claim the deduction.

Sellers want "Top Dollar"; Buyers want "A Deal".

December 12, 2006

"Top Dollar" in a changing real estate market is not really different than "Top Dollar" in any market. It is what a willing, ready and able buyer will pay for a property. Overpriced homes do not sell in any market and in a market that has changed, there is no margin for erring on the high side. In most markets, slightly underpricing often leads to multiple offers and the seller may be able to realize the best possible price.

Buyers who want "A Deal" look for properties that have been on the market a while and then write offers that are considerabley under the listing price. Most Sellers will not accept these offers and will either completely reject them or counter with a much higher price than they might have considered. The best strategy is always to consider an offer only slightly below comparable property data.

Buyers who are serious about buying another home at the best possible price, need to select a professional real estate agent, ask for comparables and get pre qualified with a lender. Knowing the market and being guided by a professional can very often lead to "A Deal"

Sellers need to make their property clean and crisp. The most profitable improvements include painting, cleaning and repairing. Sellers' goals need to be to make the residence as close to a"model home" as possible.

AAA offers holiday savings

December 11, 2006

Rodney Tanaka, a staff writer for the San Bernardino Sun Newspaper had an article in the buisiness section of this morning's newspaper, which made mention of savings available to members of the American Automobile Association. He also mentioned that many members remain uninformed about these savings. According to AAA only about 4% of the members know about the discounts.

Most members are aware of the hotel and travel discounts, but the "Show Your Card & Save" network provides many retail and travel discounts. I personally know that Winchell's Donuts would give customers a discount if they showed the membership card. AAA plans to be more agressive in advertising the discoucnt benefits of AAA membership. Westways, the AAA magazine, has lists every month of participating vendors.

For the holidays, AAA offers a gift card which is a VISA gift card and can be used anywhere Visa is accepted. Gift cards have become a gift of choice when it is difficult to find the "perfect" gift.
This AAA Visa gift card maybe your answer for the person who has everything.

Remodeling: Cost Vs. Value

December 10, 2006

If you are thinking that you might be selling your home in 2007 or if you just wish to remodel or redecorate for your own pleasure, but wonder whether you will evr recoup some of the money you spend, the National Association of Realtors publishes an annual report of current costs vs. the possible return you might expect.

To quote a portion of the article in Realtor Magazine, "When you consider its value at resale, a home improvement project only costs 20 cents to 25 cents on the dollar. The other 75 cents to 80 cents spent on the project goes directly back into the home through increased value - not to mention increased owner enjoyment."

In case you wonder, kitchen and bathroom remodeling give the greatest return on the monies spent. Interestingly, in the Pacific marketplace, window replacement with wood frame dual glaze windows has been giving a 100% return in the midrange home market and a 99% return in the upscale market.

If you want to read the entire report you can google "Remodeling Cost Vs. Value" and about the 6th or 7 listing will be "2006 Remodeling report."

A Look at Solar Energy

Devember 9, 2006

Back in the 1980's, there was a push for new homes to have solar heated hot water tanks.
Bit by bit, the incentives disappeared and most homes came equiped with a standard gas powered hot water system. However, it seems that both the Federal and California state governments revisited the solar energy issue. New incentive programs were enacted and are available to homeowners until December 31, 2007. The equipment must be put into use from January 2006 until the December 31, 2007 deadline.

There is a rebate program in the state of California and a tax credit program from the federal government. To find out more details you can go to this web address: www.consumerenergycenter.org. The site offers a good Frequently Asked Questions section which is helpful to those who want to participate in the "green" revolution.

Homeowners still optimistic about value

December 8, 2006

Quoting from the Dow Jones Newswires:

"Recent broad declines in home prices have slightly dented the outlook of U.S. homeowners, but a new poll published Wednesday shows they remain optimistic about the value of their property.

A nationwide poll conducted by the Pew Research Center between October and November showed that more than eight in 10 homeowners expect the value of their homes to go up either "a little" (55 percent) or "a lot" (26 percent) in the future.

The results of the Pew poll that involved 2,000 interviews also show that, despite continued optimism, expectations have been tempered by the marked slowdown in the housing market."

Rates are down, Mortgage Aps are up

December 7, 2006

Overall mortgage application volume increased 8.1% last week inspired by a significant drop in interest rates according to a news release from the Mortgage Bankers Association.

The seasonally adjusted refinance index increased by 13.7 percent and the purchase index increased by 4.9 percent. The refinance activity represented approximately 50.1 percent of the total applications and is at its highest level since April 2004. This increase in refinance applications may reflect the consumers' desire to get rid of an adjustible rate mortgage and obtain the standard 30 year fixed rate loan.

The average contract interest rate for 30-year fixed-rate mortgages decreased to its lowest level since October 2005, falling to 5.98 percent last week from 6.13 percent the week before.

Hopefully this increase in refinance applications will allay economists fears that the foreclosure rate would increase if the adjustable mortgages had substantial rate adjustments and the borrowers could not make the increased monthly payment.

Also, it seems somewhat significant that the borrowers are staying on top of the interest rate market place and jumping in to take advantage of the favorable interest rate climate.

For a normally slow time in the home buying market, these applications for purchases are adding to the stability of the present real estate market.

Your input

December 6, 2006

It has been a month now since the Century 21 Lois Lauer Realty's updated web site was launched. We would like to hear from our visitors about the information they can get from it and the information they would like. The "blog" button in the upper right hand corner allows visitors to type in their comments and questions.

Century 21 Lois Lauer Realty has always focused on customer service. With the technology tools now avaiilable we would like to know what the consumer would like from a real estate company. For 30 years, we have been the premier company in our market area. Our goal is to constantly improve the services we provide. Your input will help us to acheive this goal.

In future "blogs", I will share some of the inovations we are now using.

Are you confused?

December 5, 2006

If you are following the business and financial news regarding the state of the current housing market, your head may be spinning! One analylst says prices will be stable, another says prices will decline and a third says they will be increasing. How are sellers and buyers and real estate professionals going to make decisions?

For Sellers, the price of the last sale of a comparable property should be a guide to the price they ask. Since Buyers will probably be using financing to purchase a home, appraisers must consider the selling price of at least three similar properties. Since many buyers are leveraging their assets with 100% financing, those comparables are very important to the investor making a loan.

For Buyers, the first and foremost consideration needs to be how a particular property fits their present or hoped for lifestyle. A home is where you live, where you entertain friends and where your family gathers. From an interest rate point of view, now is a fantastic time to make a purchase and lock in a rate. Some loans are now obtainable at 5.6% for a 30 year fixed loan.
Ask your parents who bought in the 1970s and paid at least 9% or in the 1980s and paid 22% if this is not an opportunity.

For professional real estate agents, the market requires an up to date knowledge of the trends and opportunites. The more knowledgeable an agent is about the market, the better advice he or she can give to clients. Buyers and Sellers need to choose the professionals and take advantage of their expertise.

Charitable Gift Giving

December 4, 2006

It is the time of year when most folks think about gift giving. Family tops the list, friends are next followed by business associates. And for many this is the time to complete their annual charitable giving and to donate to the charities that provide gifts and food baskets to those less fortunate.

As 2006 draws to an end, we need to count our blessings and spread those blessings around. Those of us at Century 21 Lois Lauer Realty have been gathering gifts for the Childrens Fund annual party. Each agent took the names and wishes of two children and Lois's office is spilling over with bikes and games and dolls. The agents are always regretful that they are limited to one gift per child!

Just look in your local newspaper and you, too, can find opportunites to enrich others. We hope that you will be inspired to find your own way to share according to your interests and abilities.

Metrolink in the Inland Empire

December 3, 2006

Talks are continuing among government and transportation personnel regarding the next extensions of a light rail system in Riverside and San Bernardino counties. At the present time there is Metrolink to Riverside and there is Metrolink to San Bernardino. However there is no connection between the Riverside station and the San Bernardino station. Is one a good idea?

For years now, extensions of the Metrolink system have been discussed, but as far as this writer is aware, no decisions have been made although right of ways have been acquired. At the present, it seems as though the decision makers are becoming more serious. Especially with infrastructure bonds being approved in the past election.

If you have been a user of the Metrolink system, we would like to hear your comments as to its benefits and/or its limitations. Just click the comment button and send us your opinions.

Disclose! Disclose! Disclose!

December 2, 2006

Since the 1980s the laws regarding disclosures in real estate transactions have been growing.

For agents a disclosure of whom they represent is mandatory. Is it the Buyer only, the Seller only or is the agent representing both the Buyer and Seller? This disclosure is very straightforward.

For Buyers, there are fewer required disclosures wiith regard to the purchase agreement, but many with regard to the loan process. However, a Buyer must disclose whether or not the property will be his own residence or whether it is being purchased as an investment.

For Sellers, the disclosure requirements are more detailed and require the Seller to disclose everything that the Seller knows about the property. For instance: additions or repairs, insurance claims, a death on the property, personal property included or not included, location in natural hazard zones and anything that a Buyer might feel has a material effect on the value of the property.

The California Association of Realtors and their attorneys have created a multiplicity of forms and checklists to aid the Seller to fulfill the disclosure requirements; an important advantage that Sellers have when they employ a Realtor to handle the transaction.

This week end enjoy parades, boutiques and a home tour

December 1, 2006

If you love a parade, you can enjoy at least 2 this Saturday, December 2, 2006. At 11:00 a.m.,
the annual San Bernardino Y.M.C.A. Kids Christmas Parade will be in downtown San Bernardino on E Street between Sixth Street and Rialto Avenue. Then at 6:00 p.m. The Redlands Community Christmas parade will begin at Eureka and State Streets and will end on Texas Street after circling Citrus to Ninth, State street to Orange and back to Texas. Sponsored by the Kiwanis Club of Redlands, this evening parade is in its 8th year. Bring the kids as the Sunrise Rotary Club is planning to give books to kids along the parade route.

Saturday and Sunday from 9:00 a.m. to 4:00 p.m, The Redlands Y.M.C.A. will have the annual handmade Christmas Boutique and Pantry. This year it will be held in the Y.M.C.A. super gym at 500 East Citrus Avenue.

Sunday from 9:00 a.m. to 4:00 p.m., the 39th annual Holiday Home Tour will feature 7 homes.
4 are historical homes and 3 are new. Tickets may be purchase thru Saturday for $25 and on Sunday for $30. All proceeds benefit the programs aof the Redlands Y.M.C.A.