"Ring out the old, ring in the new"

January 1, 2009


At the beginning of every new year, I reread the verses from Alfred Lord Tennyson's poem "in Memoriam". For me, and hopefully for you, it inspires our hopes for the new year.


I quote:


"Ring out, wild bells, to the wild sky,


The flying cloud, the frosty light;


The year is dying in the night;


Ring out wild bells and let him die.





Ring out the old, ring in the new,


Ring, happy bells, across the snow:


The year is going, let him go;


Ring out the false, ring in the true.





Ring out the grief that saps the mind,


For those who here we see no more,


Ring out the feud of rich and poor,


Ring in redress for all mankind.





Ring out the want, the care, the sin,


The faithless coldness of the times;


...





Ring out false pride in place and blood,


The civic slander and the spite;


Ring in the love of truth and right,


Ring in the common love of good.





Ring out old shapes of foul disease,


Ring out the narrowing lust of gold;


Ring out the thousand wars of old,


Ring in the thousand years of peace.





A Happy New Year to All !!!!!!

Some Watchwords of 2008

December 31, 2008


Have you ever noticed that the media latch on to certain expressions and words. 2008 seemed to generate its share. I thought that the expression "a Perfect Storm" had passed into oblivion, but this past week it surfaced in several news broadcasts.

A carry over from 2007 was "at the end of the day". It still occurs in editorials, op-ed pieces and news commentators summaries of current events.

I don't know how long the expression "skin in the game" has been around, but as commentators talked of the "mortgage meltdown", the phrase "skin in the game" started popping into the commentary.

Then, of course, there was the constant use of "CHANGE" as the primaries and the presidential election dominated the news.

Of late, "headwind" has crept into the news vocabulary. The economy is facing stiff "headwinds". The stock market will face strong "headwinds".

Lastly, there is "hope" that the economy is "resetting", that "consumerism" is on the wane and "old fashioned values" are resurfacing as the world faces the current economic downturn.

If other phrases have stuck in your mind, check the comment and enter them here.

Not Too Late to Sow Wild Oats - Oops, Wildflowers That Is)

December 30, 2008
You have 2 days to strew those wildflower seeds, if gardening experts are correct. They recommend casting the seeds between Halloween and Christmas. Well, Christmas is past, but I'll bet it is not too late. I certainly am going to give it a go!
California poppies swaying in the springtime breezes are a real joy to behold. Your local garden store might still have seed packets and strewing these seeds is a great way to have color in the spring. There are also other wildflower seeds that can be tossed. If they sprout it will be wonderful. If they don't, you can try another time.
Since many of the birds also enjoy the seeds, it might be helpful to throw some planter mix on top of the area where you have scattered seeds. Just writing about the possibility of a display of wildflowers has lifted my spirits and gives me a hope for a bright new year. I'm going to celebrate the new year by tossing seeds rather than confetti !

I once sold a house in the month of April and the yard was filled with wildflowers blooming their hearts out. The buyer was enchanted with the colorful array. It was back in one of our down markets and it took 4 months to close the escrow and the wildflowers were gone. There was a bit of a discussion as to whether the yard was in the same condition as when the buyer made the offer. Flowers do make a property more appealing, but they have seasons and they bloom and they fade, but they are worth planting. Even if you are not a gardener, strewing wildflower seeds can bring a colorful array.

Shed the Doom and Gloom

December 29, 2008

It seems to me that it has become fashionable to try to bemoan the state of the housing market, the state of the credit crunch, the state of the world as a whole. Certainly there is enough "grist for the mill", but what can be the benefit of moaning about our sorry state of affairs?

If the theme of the 2008 presidential election was "change", perhaps what we now need to do is "change" our perspective. From focusing on the bad news (and I agree that the news is a bummer), it is time to on positive ways to effect a better 2009.

I heard a news person on one of the Sunday talk shows suggest that what we need is a "reset". She seemed to suggest that our value system had gotten out of whack and that it will be a better world if we learn to live within our means. We had become such a consumer society that we lost sight of real value. Her opinion was that if we recognize that we can't have it all, and that there are other important values that made our country strong, we will build a more solid foundation for economic recovery. Our homes will once again become the places where we enjoy our family life and not be just a temporary investment that we shied when markets cycle. Our livelihood will come from an honest days work and not from speculation and gambling. What a concept!

Traditionally, we make resolutions for the New Year. What sort of resolutions shall we make for the 2009 "reset" year?

The Celebrations Continue

December 26, 2008

If you like contemporary dance performances, there will be a real treat for Inland Empire residents on Sunday at the Lewis Family Playhouse in Rancho Cucamonga. The Lula Washington Dance Theatre will be performing at 3 p.m. This dance troupe is "top-notch" according to the Redlands Bowl program director and have performed regularly at the Redlands Bowl.
Tamica Washington-Miller is the associate director of her parents' troupe and both choreographs and dances. She has become connected to the Inland Empire since she and her husband, Marcus Miller, a drummer with the Freedom Jazz Movement moved to Redlands about 4 years ago. She is enthusiastic about the culture activities available in the Inland Empire and we are certainly fortunate to have talented people willing to bring more and more events inland.

The concert will be this Sunday, December 28 at 3 p.m.

12505 Cultural Center Drive, Rancho Cucamonga.

Tickets are $27.50. For more information you can call 909-477-2752 or on line at http://www.lewisfamilyplayhouse.com/.

Celebrate the Day

December 25, 2008



The message for this holiday and for everyday is



"PEACE ON EARTH - GOODWILL TO MANKIND"



This is the best gift that we could give each other.

The Best Present

December 24, 2008

If you have been doing your last minute shopping, you know that in spite of the economy, folks are at the malls.Traffic on the off ramps near the Galleria or Montclair Plaza or Citrus Plaza are filled with cars. (It took me 7 light changes to get through one intersection.) The so-called "Black Friday" was not so packed with shoppers, but the retailers have offered so many price reductions that they seem to have enticed buyers.

At CENTURY 21 Lois Lauer Realty we learned that price is the key to selling real estate in the present economy. Banks who have come into the ownership of real estate are also learning the attraction of super bargain pricing. So - are we at the bottom of retail sales and the bottom of real estate sales? I certainly do not know, but would offer this suggestion. If a property meets your needs, you can make an offer and see if the seller will negotiate. Sales actually have been improving and agents will be among the late holiday shoppers because they have been occupied with writing purchase agreements and closing escrow. Don't be full of doom and gloom, this last quarter of 2008 seems to have created some happy holiday for buyers, sellers and agents. Why not give the best present - a home for enjoying friends and family.

The Tradition of Pointsettias

December 23, 2008

An article in the Los Angeles Times newspaper this morning focused attention on the flower that seems to symbolize the Christmas holidays for many Americans - the Poinsettia. These traditionally green plants with the bright red bracts represent the most purchased plant in the U.S. and is a mainstay foe the Ecke Family that developed many varieties and were the first to take the native Mexican Euphorbia pulcherrima, a plant growing outdoors in Central America and Mexico, and develop it in to the beautiful plant that it is today. For a long time the family's methods of propagation were closely guarded, but today other growers have copied them with some success.

The name of Poinsettia was given in honor of the First U.S. Ambassador to Mexico, who, while visiting the Taxco area in 1828, was intrigued by the brilliant red blooms. He sent some plants back to his plantation in South Carolina and began propagating the plants and giving them to friends. It was in the early 1900s that the Ecke family of southern California grew them commercially.

Today that are many different colors of Poinsettias. Mostly all, if not all of these varieties have been developed by the Ecke family and there web site is worth a visit if you want good information about the history and the care and tending of your poinsettias. http://www.pauleckepointsettis.com/

You can also visit the Los Angeles Times web site, http://www.latimes.com/ , and check out the current challenges being met by the Ecke growers.

Building a Home in the 21st Century

December 22, 2008

I was intrigued by an Associated Press piece in this mornings Los Angeles Times. It was entitled "Building a Green Lifestyle." The writer is reviewing an exhibit created under the aegis of the Chicago Museum of Science and Industry. http://www.msichicago.org/.

An Oakland, California Architect designed the "Smart Home". (I can remember in early 2000, when a client asked if a new tract of homes were "smart homes". In that instance what was being asked was whether the home had been wired for Internet access and wireless capability. The "SmartHome" on display in Chicago tried to take ideas for incorporating environmentally sustainable methods into the design and construction of the SmartHome.

The hardwood floors are sustainable bamboo, the bathroom tiles are actually made of recycled wine bottles. The roof is flat and is a garden with solar panels incorporated into the design. This is Chicago and solar can work there as well as here in California. It is a modular home uses half the energy and a third of the water of traditional homes. (One innovation is plumbing a bathroom so that the water from the bathroom sink is used in flushing the toilet. The overall purpose of the exhibit is to educate the public about green possibilities. While the SmartHome is architecturally ultra modern, David Johnson, who owns an international green building consulting firm in Boulder, Colorado suggests that what is fundamental to green building is that it can be a regular Craftsman house or a Cape Cod or a Santa Fe adobe or a California ranch.

It is well worth a visit to the Chicago Museum's web site http://www.msichicago.org/ to take a tour of this innovative exhibit.

Outdoor Holiday Lighting Is Still Brightening the Season

December 19, 2008
Since it is now dark when I drive home from work, the past few weeks I have had the pleasure of seeing the outdoor lights pop up on residences. I truly enjoy the brightness and the creativity that is expressed with these holiday decorations. Since the advent of the low voltage mini-lights, and the many yard decorations that can be purchased, some folks have created winter wonderlands in their yards.
Perhaps because of the economy, some cities seem to have given up on contests for the best lit properties, but fortunately, the residents are still putting up the lights and creating bright spots for all of us to enjoy.
One of the memories of my childhood was being driven around town by my dad and looking at all the holiday light displays in folk's yards. Then it was the large multi-colored lights that created such memories. Now we have the white lights and the roof line icicles that give the sparkle to the street scape.
Of course, for the lights of all lights, the Mission Inn in Riverside is awesome and we are blessed that the economy has not dampened this celebration.

Caliifornia Real Property Tax Dates

December 18, 2008

As 2008 comes to a close, there are some property tax deadlines that may be important to owners of real property. By now the deadline for paying the first installment of your 2009 property tax bill has passed This deadline was December 10, 2008. December 10 was also the last day to file for a Homeowners' Exemption or a Veterans' Exemption or a Disabled Veterans' Exemption. Hopefully those homeowners who are eligible for these exemptions have filed the necessary paperwork. The December 10th date was also the date to file for a postponement of taxes with the State Controller. If you failed to meet these deadlines, you might file the appropriate documents now so that you will have the exemptions in place for the next tax year. If you missed making your first installment payment, do it now to keep interest a penalties at a minimum.

The issue with property taxes this year has become the assessed value of your real property. With the decline in value in the real estate marketplace, many homeowners may be eligible for a reassessment. December 30 is the last day to file an application for "decline-in-value" reassessment with the assessor's office. Contact your county assessor's office is you feel that the current assessed value of your property has declined below your Proposition 13 value. If you have owned your property for some time, your Proposition 13 value may still be under the current value of similar properties. You will need supporting data to establish why you believe a reduction in value is appropriate.

For folks who purchased property in the 2008, your current tax bill will be based on the assessed value of the previous owner. Since Proposition 13 has generally established that the value of property is established by the selling price, you probably expected a much lower tax bill. I am told that county officials have been working on how to handle these lowered assessments. In the past when the selling price was greater than the seller's assessed value, the buyer received a "supplemental tax bill". Now that the selling prices are less than the seller's assessed value, I am told that the buyer still needs to pay the current bill, but that an adjustment will be made in the future. It is probably a good idea for folks in this situation to file the application for "decline-in-value" reassessment, just to be safe that you will see a reassessment for the current taxes.

This current real estate market has clearly changed the fairly simple way that Proposition 13 established "assessed value".

January 1, 2009 is the first day to file for the tax year beginning in July 2009. So if you missed the exemption deadlines for 2008-2009, don't miss the window from January 1 to February 15.

Is "Investment" a Dirty Word

December 17, 2008

The year 2008 has certainly been a challenging year for folks invested in the stock market. If, as some news articles have reported, folks have lost their life savings, "investment" does become a dirty word. the reality of any "investment" is that there can be a risk and some are riskier than others.Usually, the greater the risk, the greater the possible gain, but also the greater the possible loss - that is what risk is all about.

Investing in the stock market is clearly about risking monies to increase ones wealth. The caveat that many stock brokers often offer is that one should only use the monies that one is willing and able to lose, not monies that are needed for living. With the advent of 401Ks as retirement vehicles, the investment in stocks became very widespread and when stock markets fall, so do the funds for retirement.

So what does this have to do with the real estate market? If you are wanting a place to live and you have the income and qualifications to purchase a home, now is the time. It seems to me that the reason that folks get so concerned about whether prices might still go lower is that they are thinking of their homes as "investments" rather than where they want to enjoy their lifestyle.

True, there are "investors, who buy real estate as an income generator; i.e. rental property. This present market has seen many of these investor/buyers purchasing property to use as rentals. With interest rates low and property values depressed, and rents up, a single family home can be a positive cash flow "investment".

For those who want a desirable place to live, they could follow the example of investor.buyers and purchase when home prices and interest rates are as low as they have been in 5 years.

Five years from now, I believe that we will be able to look back and be grateful that we took advantage of the opportunity to own a home.

Why Do Short Sales Take So Long?

December 16, 2008

On Sunday, December 14, 2008, the Los Angeles Tmes Newsspaper had an article written by Lew Sichelman which gave some rationale for the lengthy process that is known in the real estate and lending worlds as a "short sale". If you go to www.latimes.com/business you may be able to read the article in its entirety.

Mr. Sichelman suggests that lenders are so swamped by underwater borrowers who need permission to sell their homes for less than the mortgage amount owed, that they (the lenders)

only take seriously the packages submitted that meet certain criteria.

Some of these criteria include: The borrower must be behind in the monthly payments;

The borrower must show hardship; payments being greater than the borrower's ability to pay; The borrower must submit a financial work sheet listing bank accounts, real estate owned and all other assets; (It is important to be totally honest with both the real estate agent and the lender; If possible, obtain a copy of the lender's short sale package and give them everything they want.

Each type of loan may have different criteria. Recognize that lenders seemingly have not yet established efficient processes and that they are sorting out the best way to proceed.

It would seem that all the affected parties, Borrowers, Lenders, Investors, etc. would recognize that it is in their best interest to get these properties sold. Waiting the 121+ days for a trustee's sale and then marketing the bank-owned properties can cost more money than being able to sell the property in the early days of a borrower's non-payment.

However, the reality is that short sales are taking even longer than foreclosures. What is wrong with this picture?

It is a Different Kind of Market

December 15, 2008

It is mid December and we are having the first serious rain of the winter season. I am certain that the ski resorts in our mountains are delighted with the falling snow. Those of us in the real estate profession have found 2008 a challenging year, and we have had to learn some new and different skills. We are hopeful that the brisk activity of our December market is indicative that the market has found a bottom.

For the first 2 weeks of December, normally a very slow time, we have seen new listings and an active pending sales market. Folks seem to be taking advantage of reduced prices and historically low interest rates. Banks have been aggressive in their pricing of foreclosed properties and they have stepped up activity in their loss mitigation (short sale) departments.

Just a quick overview of the December statistics for the Redlands market place as reported through the IMRMLS.

New listings.......................41........of which 10 are bank owned and 11 are short sales.

Pending listings.................22.......of which 13 are bank owned and 1 is a short sale.

Closed transactions..........18........of which 6 were bank owned and 1 was a short sale.

Prospective purchasers and their agents have had a tendency to avoid short sale properties because of the length of time it is taking to receive bank approval. As the banks establish processes we are hopeful that the sales of these properties will increase and we can rescue the upside down homeowners.

No Lack of Entertainment in the Inland Empire

December 12, 2008
This weekend there is a variety of things to do for entertainment. Some of the events are free, others will require tickets. This evenings concert by Metallica at the Citizens Business Bank Arena in Ontario is already sold out. If you really want to attend you could contact www.ticketmaster.com and perhaps obtain a ticket. (Minimum price according to an article in The Sun Newspaper is $177.)
There are two rather diverse concerts on Sunday - one in San Bernardino Sunday evening featuring Frankie Valli and the Four Seasons (www.theatrearts.com or www.ticketmaster.com)
This concert will be at the California Theatre of the Performing Arts, 562 W. Fourth Street in San Bernardino. The other in Redlands at the University of Redlands Memorial Chapel is "A Celtic Christmas". It will feature the Celtic Spring fiddle and dance band and the Kevin R. Blandford Memorial Pipe Band. www.redlands.edu/events or 909-748-8116.
Performance Riverside will team up with the Riverside Community College Marching Tigers to present a program called "Hollydazzle". Friday (tonight) at 8 p.m. and Saturday at 2 p.m. and 8 p.m. and Sunday at 2 p.m. at the Landis Performing Arts Center 4800 Magnolia Avenue in Riverside.
If you are a fan of the Victorian Christmas, the Riverside Heritage House will be hosting an open house on Sunday from 11 a.m. to 4 p.m. The house is located at 8193 Magnolia Avenue. Admission is free.
While you are in Riverside, don't miss the Mission Inn. The Christmas lighting and decorations are spectacular and a sight to behold!
This time of year, just search your newspapers. I feel certain you will find an event for fun and celebration.

"How the Grinch Stole Christmas"

December 11, 2008

"How the Grinch Stole Christmas" is one of the popular Dr. Suess books. Obviously, the Grinch gets converted and all ends well. I thought that I would play around with attaching a word to the letters Of G-R-I-N-C-H. Could it be:

G - Government

R - Regulators

I - Intervene

N - No

C - Christmas

H - Holiday

??????????????????????????????????????????????????????????????????????????????????

Certainly the year 2008 and especially the last several months, we have seen government officials intervene in the housing, the credit and now the automobile crises. Unlike the Grinch, I believe that their intentions are to save the economy and to save homeowners, lending institutions and a portion of the manufacturing sector. A year from now, we shall have some indication of the success of their interventions.

Since this is primarily a blog about real estate, let's look at some of the actions that have been taken. First, the government backed loan limits were raised to make refinancing of high balance loans possible. Interest rates have been kept at historically low levels. The HOPE NOW program was instituted as an effort to counsel agencies and mortgage servicers to modify loans on a strictly voluntary basis. Borrowers who had the toxic "Option ARMS" could call 1-888-995-HOPE and for $300 they were to be assisted in negotiating a recast loan from their lender. Thus far, it has not accomplished much of what it was established to do. If the restructuring of mortgages is successful, homeowners will be able to retain their homes with more affordable monthly payments and, if the future reassembles the past, the value of the property will come back to the purchase price. Think about it, if you rent, you do not consider the value of the property you are renting. In some ways, making a mortgage payment is similar to renting. The government Grinch is really working very hard to not steal your holiday. Some of the efforts will require homeowners, lenders/investors and manufacturers to participate in these efforts. Homeowners need to want to stay in their homes; lenders/investors
need to want to exxtend credit; and manufacturers need to create revised business plans. Together we can defeat the negative GRINCH.

What is "The Inland Empire Economic Recovery Corporation"?

December 10, 2008


A headline in yesterday's Press Enterprise Newspaper discussed a proposed organization that would partner with county and city governments. The plan is to purchase foreclosed housing and resell them after the houses had been rehabbed.


For those of us in the real estate business longer than 20 years, the concept being proposed is not an entirely new one. Back in the downturn in the 1990s, there were several private companies who purchased the repossessed properties, rehabbed them and resold them. Perhaps some of you who read this blog can remember these companies. I believe that one of them was recognized for the enhancement to the community.


The purpose of this proposed "Inland Empire Economic Recovery Corporation" would be "to mitigate the fire sale of the region's foreclosed homes as the Federal Deposit Insurance Corporation sells off the assets of failed banks." According to the article in the Press Enterprise, there are about 4,2356 homes in San Bernardino County alone that are bank owned. Riverside county is that they have begun there own project and will continue with it. It is also not clear just how many cities would wish to participate.


The FDIC is already bundling homes for auction and private investors are poised to purchase more than 30 of these homes for the as yet established corporation. On December 16, an item is on the agenda of the San Bernardino County Board of Supervisors for consideration to authorize a $2.5 million contract with the proposed organization.


Hopefully, this proposed corporation will help to eliminate the blight that is caused by vacant, foreclosed homes create.

A Sampling of Median Price History In the Inland Empire

December 9, 2008

Though the IMRMLS data records, I researched median prices for the years 2003, 2005, and 2008. I chose these years because 2003 was when the market began its rise, 2005 was near, if not at, the peak, and 2008 is the current market place. These are prices of closed sales in the month of November. This is not a scientific analysis. I only look at the total number of reported closed sales, divide in half, and pick the price of the halfway property. It is interesting, but may not accurately reflect median prices.

Banning/Beaumont.......2003/$160,000..........2005/$327,500..........2008/$199,000

Bloomington...................2003/$192,000..........2005/$370,000..........2008/$142,000

Colton..............................2003/$187,500..........2005/$310,000..........2008/$170,000

Fontana..........................2003/$236,000..........2005/$392,000..........2008/$235,000

Grand Terrace..............2003/$222,000.................................................2008/$240,000

2003/$234,000..........2005/$349,900..........2008/$257,000

Highland.........................2003/$191,000...........2005/$379,900..........2008/$170,000

Loma Linda...................2003/$280,000...........2005/$360,000.........2008/$190,000

2003/$345,000...........2005/$410,000..........2008/$240,000

Mentone........................2003/$170,000...........2005/$275,000...........2008/$90,000

........................................2005/$293,000..........2008/$138,000

...............................................................................2008/$325,000

...............................................................................2008/$442,000

Moreno Valley..............2003/$210,000.........2005/$365,000............2008/$165,000

Redlands.......................2003/$283,500..........2005/$425,000............2008/$239,000

Rialto.............................2003/$203,000.........2005/$371,500.............2008/$180,000

Riverside......................2003/$257,500..........2005/$405,000............2008/$210,000

San Bernardino...........2003/$145,000..........2005/$307,000.............2008/$110,000

Yucaipa/Calimesa.......2003/$248,000.........2005/$365,000.............2008/$239,000

......................................2005/$379,000.........................................

Where I have posted several prices for a year, it is because there was a fairly significant spread in the prices at the median point.

November Sales Closed - 2003-2008

December 8, 2008

A commentator on Bloomberg Television this morning opined that a bottom will be reached when prices steady, but more importantly when they are steady with increasing volume. If his opinion is correct, the real estate market shows a remarkable increase in the number of sales.

Here is the data.

Banning Beaumont...2008/105.....2007/47.....2006/62.....2005/100.....2004/79.......2003/85

Colton.........................2008/43.......2007/9.......2006/37......2005/50.......2004/47.......2003/30

Fontana.....................,2008/301.....2007/81.....2006/142...2005/211......2004/224.....2003/192

Grand Terrace..........2008/8..........2007/10.....2006/10.....2005/13........2004/14.......2003/8

Highland.....................2008/55.......2007/35.....2006/31......2005/77........2004/54.......2003/54

Loma Linda...............2008/10........2007/10.....2006/10......2005/7..........2004/12.......2003/7

Mentone....................2008/4...........2007/13.....2006/6........2005/10........2004/5.........2003/10

Moreno Valley..........2008/389......2007/72......2006/153...2005/301......2004/216.....2003/237

Redlands...................2008/35.........2007/38.....2006/51......2005/59........2004/71........2003/61

Rialto.........................2008/125.......2007/37.....2006/51......2005/86........2004/106......2003/111

Riverside..................2008/371........2007/141...2006/259...2005/397......2004/367.......2003/363

San Bernardino........2008/229.......2007/72.....2006/154....2005/219.....2004/188.......2003/221

Yucaipa/Calimesa...2008/47..........2007/26.....2006/50.....2005/57........2004/85.........2003/61



The decrease in pricing in some of this areas is definitely a contributing factor to the volume of sales. However, the data shows that there are buyers who recognize the opportunity that this market gives them. Low interest rates, coupled with low prices permits more of the population to qualify for a home purchase. It has been an interesting exercise to track the numbers as they are reported through the IMRMLS. Again, these numbers to not represent new home sales , nor for-sale-by-owner.

The Holidays are in Full Swing

December 5, 2008


A number of annual Holiday events will take place this weekend. There are so many traditional Christmas parades this weekend. At 10 a.m. to noon on Saturday, the Colton parade will proceed from Wilson Elementary School at 750 S Eighth Street to Fleming Park, 525 La Cadena Avenue. More activities will continue at the park until 3 p.m.


Also on Saturday, the Redlands evening parade will kick off at 6 p.m. and proceed from State Street to Brookside and Citrus and through downtown Redlands.


At 8 p.m. tonight, Friday, and also 8 p.m. Saturday, the Inland Dance Theatre will present Tchaikovsky"s "The Nutcracker" ballet. There will also be a Sunday Matinee performance at 2:15 p.m. The venue is the California Theatre of Performing Arts at 562 W. Fourth Street in San Bernardino. Tickets are $20, $25, and $30. For information you can call 909-891-1563.


Then on Sunday, the annual Y Home Tour will take place in Redlands. This year there are seven homes that can be toured from 9:30 a.m. until 4:30 P.M. Tickets can be purchased in advance at the YMCA boutique on Saturday for $25. or Sunday at any home for $30. The tour includes a 7600 square foot Mediterranean-style home, four historic homes, a remodeled mid-century ranch and a stately French chateau-style residence. For more information you can call 909-798-9622 or register at http://www.ymcaeastvalley.org/.


Sunday night will also be the lighting of the Christmas tree at Kimberly Crest in Redlands.


If you know of other events that the public would enjoy, post a comment and I will publish it.

If the Price is Right

December 4, 2008
There seems to be a characteristic of all markets - when prices are seen as bargains, people want to buy. One has only to read the assessments of the retail activity on Black Friday. Folks went to the stores in the wee hours of the morning to wait in line for the "door-busters". Generally the sales were better than expected, but the retailers interviewed by the media claimed it was the heavy discounting that stimulated the buying activity.
The same increase in activity seems to occur when stock prices fall dramatically, buyers come back into the market.
The real estate market is no exception. As prices have declined and bank-owned properties have been put on the market at attractive prices, multiple offers occur. With real estate markets, there is the additional factor of credit. With the losses suffered by many investors, loan standards changed and the number of qualified buyers diminished. What is remarkable is that given the prices of many properties, there were sufficient qualified buyers to double and sometimes triple the number of sales over the 2007 market. Price is clearly a motivating factor.
As I post this blog, three very positive developments are very likely to stimulate buyers to purchase homes in the next months. 1) Home prices have generally receded to 2003, 2004 levels. 2) Mortgage money is available and the available limits are adequate for the prices. 3) Interest rates are at record low levels (I heard this morning that 5%/30 year fixed loans were being offered.).
It certainly looks like "The Price is Right".

Believe it or Not - Houses Are Selling

December 3, 2008

If you read my Monday post concerning the ratios of pending sales to active listings, you saw that sales activity has increased as the year progressed. From ratios in single digit numbers to ratios in double digit numbers. Prospective home buyers have recognized that home prices are more affordable than they have been in the past four years. Add to the lower prices, the financing rates hovering around 6% for a thirty year fixed rate mortgage and the availability of government backed FHA and VA financing, buyers who were previously shut out of the real estate market place are making decisions to purchase a home.

A recent article in the Wall Street Journal cited a poll of 1000 homeowners, sponsored by real-estate-services firm Realogy Corporation, found that 91% thought that owning a home was the best long-term investment they could make. And on-line survey of 5000 people commissioned by Citigroup found that just 32% believed that it was a good time to invest in stocks - but 51% said it was a good time to buy a home. It seems like those 51% are out putting their money where their beliefs point.

While November and December are generally the months that real estate agents take advantage of slower activity and plan their vacations for this holiday period, this year the activity has increased over the earlier months of 2008. All professional real estate agents know that you work whenever there is opportunity, so they will be working this holiday season.

No matter whether a real estate market is in a boom or bust mode, the bottom line is still the desire to own a piece of the planet to call your own.

Listings and Pending Sales - December 1, 2008

December 2, 2008


It has certainly been an interesting year for the marketing of real estate in the Inland Empire. In some communities the data indicates that the activity in the market place increased substantially as prices increasingly attractive.For your information the following numbers represent the properties currently for sale and the properties currently in escrow. From the low single digit ratios of pendings to listings in January 2008 to the current levels ranging from a low of 13.2% (Mentone) to a high of 46% (Moreno Valley) the data suggests a reviving real estate market. Always remember that these numbers only represent properties listed on the IMRMLS and generally do not reflect the sale of newly constructed homes.


Banning/Beaumont......Listings/848........Pendings/202........Percentage/23.8%


Bloomington..................Listings/178.........Pendings/67..........Percentage/37.6%


Colton.............................Listings/337.........Pendings/102.......Percentage/.30%


Fontana..........................Listings/1761.......Pendings/638.......Percentage/36.2%


Grand Terrace..............Listings/54...........Pendings/11..........Percentage/20%


Highland.........................Listings/351........Pendings/111.........Percentage/31.6%


Loma Linda...................Listings/98...........Pendings/20..........Percentage/20%


Mentone........................Listings/53...........Pendings/7.............Percentage/13.2%


Moreno Valley..............Listings/1916.......Pendings/883........Percentage/46%


Redlands.......................Listings/389.........Pendings/72...........Percentage/18.5%


Rialto.............................Lisitngs/785.........Pendings/292.........Percentage/37.19%


Riverside......................Listings/2734.......Pendings/797..........Percentage/29.1%


San Bernardino............Listings/2072......Pendings/511..........Percentage/24.6%


Yucaipa/Calimesa.......Listings/428.........Pendings/81............Percentage/18.9%

What to Keep and What to Toss

December 1, 2008

Are you one of those folks who keep copies of paid bills, product warranties, tax returns, bank statements, loan documents, etc.? I found this little guide in a Consumer Reports Money Advisor. It was prepared by Tobie Stanger, Senior Editor, Personal Finance at Money Advisor.

1. Bank-deposit slips - can be tossed after you reconcile your statement.

2.Cancelled checks - can be tossed usually after 1 year, but you need to keep the checks that support your tax filings for 7 years.

3. Loan documents - can be tossed when you repay the loan. It is best to keep them until the loan is repaid.

4. Product receipts - can be tossed once the warranty expires.

5. 401(k) statements - can be tossed when you get a new one.

6. Personal state and federal tax returns and supporting documents - can generally be tossed after 7 years.

Obviously these are general guidelines. I know I am one of the folks who is fearful of throwing a document away lest I need it at a later time. However, as I read these suggested time frames, I realized that not every receipt and not every document have the same importance. Sorting them in the above categories will help make your financial management easier.