Calling All Inland Empire Cat Lovers

July 31, 2009

There will be a cat show At the Perris Lake Fairgrounds on Saturday from 9 1.m. to 5 p.m. The San Diego Cat Fanciers are bringing this event to the Inland Empire. It will raise money for local and national animal charities. Proceeds from the show go to local shelters as well as the national Winn Feline Foundation which supports research on cat health. If you just love cats or want to learn more about cats, this is an event you will not want to miss. The show's manager, Karen Wilkins, says that there will be between 125 and 150 cats from 30 breeds. The cats will be divided into champion, premier and kitten categories and evaluated by seven judges. One member of the San Diego Cat Fanciers will be showing a few of her Selkirk Rex, a breed of cat with very curly hair that originated in Montana in 1987.

Admission is $7 for adults, $5 for children, seniors and military personnel and free for children under 6 years of age when accompanied by an adult. For more info go to http://www.sandiegocat.org/.

For train lovers, there will be a big model train exhibit from 9 1.m. to 5 p.m. on both Saturday and Sunday at the San Bernardino History and Railroad Museum in the historic Santa Fe Depot at 1170 Third Street in San Bernardino. Admission is free. More info (909)885-2204

On Sunday at the San Bernardino County Museum admission will be free and there will be a live concert in the museum's new outdoor amphitheatre at 3 p.m.

This is a small sampling of events that keep Riverside and San Bernardino residents busy during these summer months.

A Tale of Government Stimulus

July 30, 2009

On August 1, the new federal rules regarding disclosure by lenders to borrowers will go into effect. These rules are designed to inform the borrower about the actual cost of the loan and the cost associated with the purchase of a home. The rules are awesome in the amount of constraints that they impose on all lenders in the home loan business - banks, mortgage brokers, etc. There seems to be a belief amongst lawmakers that if borrowers are better informed, they will have less fear of entering the real estate market to purchase a home and that these better informed borrowers will help to up the sales statistics. Unfortunately, these new rules will probably increase the complexity of a real estate transaction.

But let's see what existing stimulus packages have done to stabilize the real estate market.

1. The Federal $8,000 tax credit. In all probability this tax credit has had a positive effect as first time home buyers have become a significant portion of present real estate sales. It seems clear that this tax credit did what it was designed to do - encourage buyers to purchase now.

2. The California $10,000 credit for purchasing new construction. This also seemed to work as new home sales increased substantially and the monies set aside for this credit have been reported to be depleted.

3. The stimulus funds for loan modification. This is still a questionable benefit to underwater homeowners. Just this week, the Obama administration announced it was putting some pressure on lenders to be more aggressive in making loan modifications and in approving short sales. If lenders have been allocated a pool of money from the federal government to offset their losses, why does a short sale take 6 months? Why have so few loan modifications been made?

4. The Home Valuation Code of Conduct. This set of rules for lenders and appraisers went into effect on May 1, 2009 and by all reports has created a nightmare. The intention was to distance appraisers for anyone who had a vested interest in a property appraising at the selling price. The result has been somewhat chaotic. The most difficult part of the appraisal process is the appraisal review that occurs just before the final step in a lending process - the funding of the loan. A "desk review" is conducted and this individual who has never seen the property has the power to change the appraised value - mostly down. This process has seemingly prevented prices from recovering even though buyers and willing and qualified to pay more. Rather than protecting buyers from overpaying, it has had a dampening effect. It has also delayed closings.

It would seem that direct money credited to buyers works far better than regulations that have unintended consequences.

Weeding, Feeding and Maintinaing the Garden

July 29, 2009

We have had record breaking heat the past week or so and this hot, dry weather can be stressful to your plants. Well maintained landscaping is a great value enhancer for any property. Plants generally are happy if they have food, water and a weed and pest free setting.

The use of mulches is a great help in keeping the weeds away. There are some common household items that can deter the bugs. Soapy water sprayed directly onto aphids will wash them off or kill them. (1-3 teaspoons of detergent into 1 gallon of water) Rolled up newspaper will look like hiding places to bugs like earwigs. Put them out at night and collect and dispose of them in the morning. Saucers of beer will attract and trap slugs. Sprays made with garlic, chives and marigolds will keep bugs away. Plantings of nasturtiums will repel white flies and spearmint and tansy will repel ants.

For a natural fertilizer, here is a great idea. Scoop compost into a burlap bag and suspend it in a bucket of water. Steep it for a week or two, moving the bag a little every few days. Use the liquid full-strength or dilute it and your plants will respond with new growth.

Always keep the sprinklers in proper working order. Mow and blow gardeners have a tendency to disturb the sprinkler heads with their weed whackers and not only are the plants not watered properly, you are wasting water.

A well tended garden is a thing of joy and it will give good curb appeal to your property and give pleasure to you, your neighbors and all passersby.

Now is the Time if You Want Your Property Reassessed

July 28, 2009


So often folks call us about how they can get their property taxes reduced to match the reduction in the market value of their property. Now is the time. It is not good to wait until you get your 2009-2010 tax bill as you will be too late for that tax year.


The filing period for the 2009 for those whose properties have decreased in value due to the present economic downturn is from July 2 to November 30.


San Bernardino County has a revamped assessment appeals Web site at www.sbcounty.gov/assessmentappeals to help you get started with the appeals process. There is also a hot line at (909) 387-4413 available between 8a.m. and 5 p.m. Monday to Friday.


An appeal application form can be completed and submitted via the Internet. There is also a video entitled "Your Assessment Appeals".


Likely candidates for assessment appeals are property owners who purchased during 2005, 2006, and 2007. Properties purchased in 2008 may also have declined in value, but probably not as significantly.


Just one caveat: During the 1990s downturn, properties were also reassessed and the property taxes were reduced. However, I have been told that when prices rose, the assessment returned to the former level. In other words, the reduction may not be a permanent reduction of your property tax basis.


If the process requires you to provide comparable sales information, your professional real estate agent will be happy to be of assistance.

Energy Efficiency for Your Swimming Pool

July 27, 2009

I saved an article about energy efficiency for swimming pools that was in the Los Angeles Times newspaper on July 4. If you have a swimming pool in the southern California area and the pool is older, there are some steps that you can take to increase the energy efficiency and to reduce your operating costs.

Many of the older pools have gas fired heaters which have not been used for decades as the cost to operate them became almost prohibitive. At least twenty years ago, it was possible to purchase a solar system to heat the pool and these systems are great cost savers. However, the most costly part of a pool's operation is the electricity used to operate the pump. As of next year, any new pools and the replacement of a pump in an older system will require a more energy efficient device. These new pumps will cut a pool owners energy bills. According to the article, these new, variable speed pumps have the biggest potential for electrical savings - probably up to 75% on the power bill. Pool owners can use Pentair's IntelliFlo web site to compare their current pump with an energy efficient one. http://www.pentairpool.com/

Other steps mentioned in the article include resurfacing the pool. Two resurfacing products are Colorquartz and Pebble Tec. Did you know that you can switch your present pool lights to LED fixtures? Another step has been in use for a very long time - pool covers. People tend not to use them because they can be a bit of a hassle, but improvements have been made in recent years. Yorba Linda will not sign a final inspection on a new pool until there is a solar blanket on site. These blankets are not expensive and do reduce the amount of evaporati0n and of heating to bring the temperature to comfortable swimming temperatures.

Especially lately, with our weather being very hot, a dip in a pool is a wonderful treat and a great place to have your family vacation. In all probability, the cost ofimproving the energy efficiency will be less than a week's vacation at a resort.

"Wish You Were Here"

July 24, 2009

"Wish You Were Here" was a Broadway musical in the 1950s, but in the Inland Empire it is the title of an exhibit at the UCR/California Museum of Photography in Riverside. The exhibit features memorable photos of vacation getaways from the museum's permanent collection. The museum is at 2824 Main Street in Riverside. The hours are noon to 5 p.m. Tuesday through Saturday. More info at (951)827-4787 or http://www.cmp.ucr.edu/



Yesterday the annual musical began at the Redlands Bowl. This year the presentation is "1776". As always, these performance continue through Friday and Saturday evenings at 8:15. Local talent is showcased and these musical are high points in the summer music festival. The performances are without admission fees, but a free will offering is collected at the intermission.

More info: (909) 793-7316 or http://www.redlandsbowl.org/

If you want to travel to the Victor Valley Community Hospital on Saturday you can participate in its 8th annual Kids Care Fair. This event combines free rides, magic shows, face painting, live music, snacks and drinks to accompany the free physicals, health screenings and immunizations. The fair opens at 8a.m. and will end at 1 p.m. . It is being held at the San Bernardino County Fairgrounds, 14800 7th Street in Victorville. Admission is free, More info at (760) 843.6180



Also, for those being affected by the current economy, Cal State San Bernardino will be the venue for a foreclosure seminar being sponsored by the Inland Empire Economic Recovery Corporation. The seminar begins at 8 a.m.. Attendees may park in Parking Lot D and are encouraged to arrive early so that they may receive one on one consultation from expert consultants. For more info call Bob Hooker at (909)723-8323 or e-mail rhooker@ieerc.org



Never say there is nothing going on in the Inland Empire !

What's on Your Mind?

July 23, 2009

Yesterday I posted blog #700. When I began blogging two years ago, I thought that folks would submit questions and that we would respond to their real estate concerns. Selling, buying, financing, leasing, maintaining, etc. For whatever reasons, the blog as been mainly comment free.

I have posted information that interests me and information that was a response to questions asked of me as I went about the community. I scour newspapers, new magazines and trade journals to keep abreast of facts, figures and trends. Blogging has become a wonderful cure for any writer's block that I may have had.

I like to keep track of statistics. I like to cite events that are happening in the Inland Empire. I like to give helpful hints for improving and maintaining a property. Most of the time I avoid controversial subjects as the object of the blog is to present useful information to anyone interested in the subject of real estate.

I encourage any of you out there who read this blog to click the comment button and to feel free to suggest a subject for a blog. I love researching subjects and would do my best to address new subjects.

Here's to the next 700 posts !

A Chance to Dispose of Electronic Waste

July 22, 2009

This weekend there will be an opportunity to dispose of the almost undisposable. I saw notices in the newspapers that both San Bernardino will have free electronic-waste recycling events on Saturday, July 25, from 91 a.m. to 5 p.m. in Redlands and from 9 a.m. to 4 p.m. in San Bernardino. California law requires that electronic waste be properly disposed of and cannot be thrown into the regular trash.

The even in San Bernardino is being sponsored by and for the benefit of the Community and School Allianace (CaSA) as a fundraiser for mini grants to teachers. Last year they raised $1300. The droop off site will be the parking lot of the San Bernardino City Unified School District at 777 N. F Street in San Bernardino. Items accepted include computer monitors, televisions, PC systems, printers, laptops, copiers, scanners, home entertainment systems, toner cartridges, cell phones, FAX machines, Mainframe units, phone sets, lab testing equipment, VCR/VCD/DVD players and other small portable devices. They also accept microwave ovens, but there is a $5 processing fee for the ovens. Just bring your stuff to the cite and there will be volunteers on hand to unload it. For more information contact Greenview Resource Management at 562-372-2855 or http://www.greenviewresource.com/

The even in Redlands is sponsored by The Clean PC. They will be accepting pretty much the same categories of e-waste, but probably not microwave ovens. The Clean PC will be offering a free physical cleaning and inspection service to anyone who brings a computer. Other discounted services and refreshments will also be offered. The Clean PC is located at 250 West Stuart Avenue in Redlands.

If you miss these great recycling opportunities, do be aware that Goodwill Industries also accepts electronic waste at its drop off centers on a daily basis.

Is it a "V" or an "L"?

July 21, 2009

Yesterday I heard a commentator on Bloomberg TV interview a financial guru concerning the state of the economy. Of late, the stock market has been on the upside and the economists being quoted in the media have turned a bit more optimistic concerning our recovery from the current recession. The particular expert who was being interviewed was very optimistic and stated that he thought the recovery would be a "V" shaped, while the majority of economists have felt that the recovery would be "L" shaped. Most of the time these economists are speaking about the financial market recovery. Rarely are they discussing the shape of a real estate recovery.

A "V" shaped recovery is one in which the economy has sunk quickly and deeply over a short period of time (2-3 years), but the recovery to pre recession pricing is equally quick and over a short period of time. Hence the "V"; down sharply, up sharply.

An "L" shaped recovery is one in which the economy has sunk quickly and deeply over a short period of time (2-3 years), but the recovery is flat like the base of the letter "L" and takes a much longer period of time before prices recover to pre recession levels.

If the measuring stick for when real estate prices will attain par with their 2005-2006 levels is a "V" or an "L", my research of previous real estate down markets suggests that real estate usually recovers more like an "L". Actually I would suggest that the letter"U" is more representative of past downturns and upturns in the Inland Empire real estate marketplace. Thus prices reach a peak and then the down market takes over. At some point the down market

fades and prices remain pretty level for a period of time. Eventually prices begin their recovery and do recover. The typically time in the real estate market in the Redlands area that I have research, the time between the peak and the next peak is 10-12 years with the years in between reflecting the time to get to the base of the "U" and the time to recover to the upside of the "U".
No matter which letter proves correct, purchasing real estate now neems like a great opportunity!

In 2016, let me know!

Did This Realy Happen?

July 20, 2009


I was sorting through some articles that I had saved as material for blog subjects and one of these caught my attention. It was a "Realegal" bulletin from the California Association of Realtors dated July 11, 2008 entitled "Foreclosure Relief Bill Becomes Law." A year later it is a bit difficult to assess any impact on the adverse effects of the high foreclosure rates in California.


As a real estate agent or as an ordinary resident of a community in the Inland Empire, I am inclined to believe that one of the bills provisions has not been seriously enforced. I feel certain that I am not alone in seeing properties that have not been maintained and that clearly the owners, either individuals or lenders, have let deteriorate; especially as regards the exterior maintenance of the property. With our high temperatures and low rainfall, landscapes have turned brown, trees and shrubs are dying and weeds have proliferated.


Here is what the statute included:


"Maintenance of vacant Properties: Effective July 8, 2008, anyone who acquires a property through foreclosure must maintain the exterior of vacant residential property. Violations of the law include permitting excessive foliage growth that diminishes the value of surrounding properties, failing to take action against trespassers or squatters, failing to take action to prevent mosquitoes from breeding in standing water, or other public nuisances. This law authorizes a government entity to impose a civil fine up to $1,000 per day for any violation, as long as the owner has been given notice and an opportunity to remedy the violation. A violator must be give at least 14 days to begin, and 30 days to complete, such remediation before a fine can be assessed."


Pretty clear, don't you agree? Yet I see many bank-owned properties that are clearly neglected. Is the reason that the notices are not being given to the owners? Why does it seem that this provision of the law has seemingly been ignored? Do any of you readers have the answer?

Fun Things to do Around the Inland Empire.

July 17, 2009

For all you American Idol Fans, tonight the American Idol Summer Tour will be at the Citizen's Business Bank Arena. For ticket info, you can google Citizen's Business Bank, Ontario, CA. You can also get their calendar of great events coming in the remainder of the month of July such as Earth Wind and Fire next Wednesday and then from the 29th through the 31st, the Ringling Brothers Barnum and Bailey Circus. It is so wonderful to have these classic events come to the Inland Empire!

Also this evening, the Redlands Summer Music Festival and the Redlands Theatre Festival will be presenting programs. The Music Festival at the Redlands Bowl at 8:15 p.m and the Theatre Festival at Prospect Park. The concert is being presented by a group called Viver Brasil Dance Company.

Tomorrow, (oops, last week I said it was a happening then) the Redlands Optimist Club will have their car show and chili coo-off at Sylvan Park in Redlands from 9 a.m. to 2 p.m.

Then Saturday evening you can go to the Yucaipa Regional Park on Oak Glen Road and enjoy the Ravelers, a classic rock band. This free concert starts at 6:30 p.m.

Our weather has been spectacularly beautiful and a great time to enjoy the outdoor events.

The Closing Date - Certainty or Uncertainty?

July 16, 2009

When a contract is written for the purchase of a property, one of the terms will be the date for the close of escrow and transfer of title. Even though a purchase agreement may say within 30 days from date of acceptance, the escrow documents will contain a date certain. Buyers and sellers have always felt that this date was an absolute upon which they could rely to make their moving arrangements. Actually, it has always been a target and could vary depending on outside factors such as lender processing. In the past, however, the date was more often met than not and if a delay occurred, the delay was usually just a few days.

Well, in today's real estate environment, a closing date is still a target, but it is definitely a moving target. It is important for agents to keep in touch with their buyers and sellers and with escrow and with lenders to track the processing of the transaction. A closing date for a short sale is meaningless. A buyer of a property that requires a lender to reduce the valance owed by the seller can take months. Under President Obama's mortgage stimulus plan, lenders are improving, but an actual closing date upon which buyers and sellers can rely is still uncertain.

For a buyer purchasing a bank-owned property, the buyer is really pressured to meet the negotiated closing date. Banks insist that the closing date in the contract be met or they "punish" the buyer by charging a daily late fee - usually $100 a day for every day past the stated closing date. The buyer is caught as most often the delays are due to the length of time it takes for a lender to process their their loan. Banks want these properties off their non-producing inventories, but some latitude would be helpful in cases where the buyer has met buyers obligations and the delay is not of their doing.

The best way to deal with a closing date is to pay attention to the necessary steps n a transaction and to recognize that purchasing a property today requires flexibility in your move in or move out arrangements.

The Short Sale Conundrum

July 15, 2009

I looked up "conundrum" on google to be sure that the definition fit what is happening in the world of short sales. While the first definition was that a conundrum was a puzzle that usually included a pun, the second and third definitions seemed an appropriate description of what faces lenders, sellers and buyers in today's market.

A "conundrum" is a question or problem having only a conjectural answer; an intricate and difficult answer; a difficult choice or decision that must be made.

Surely these definitions fit short sales.

A lender must decide whether to agree to take less from a borrower than the borrower owes. The lender must decide how much less and whether the borrower is actually financially unable to make the payments on the loan. The latter determination is difficult because lenders often will not consider reducing the mortgage balance until the borrower fails to make the payments for several months. Ultimately, if the borrower fails to make payments and the property goes into default, the lender must then decide which nets the most from the non performing loan - a short sale or selling the property once the lender gets the property back though a foreclosure sale. on the surface, getting rid of the non performing asset sooner rather than later, especially in a declining market, seems like a no-brainer. However, from the length of time it takes a lender to make a short sale decision, there must be many other factors to consider - thus the "conundrum" e.e. the intricate and difficult problem.

For the seller who can no longer keep up the mortgage payments and for whom the balance of the mortgage is greater than the property's current market value, trying to "short sell" it and negotiating with the lender for a reduced pay-off seems a reasonable decision. Unfortunately, some sellers who put a property on the market as a "short sale' could make the payments but choose not to because the property is worth less than they owe. If a property owner must make a choice between letting the property go though a foreclosure action or selling it "short", the decision might be influenced by the impact of this decision on the seller's credit scores and the future ability to purchase another property. In both cases, the seller's credit has been affected. The question becomes is on effect worse than the other. Many financial advisers believe that the short sale may have less negative impact because the number of missed payments may be less. The short sale may more quickly put an end to the credit damage. In fact, one attorney expressed an opinion that a seller who sells with a reduced pay off demand should request that the loan be reported as "satisfied" rather than as a reduced pay-off.

For the buyer, a short sale is a conundrum because the wait for an approval from a lender has been extremely lengthy; it could be six month or more. Most buyers are faced with the problem of wanting to purchase a home now, not in six months plus the reality that the property may even have declined in value after they submit an offer. Another factor for the buyer is the not knowing whether the sale of property will be approved or whether it will just continue on the path to foreclosure.

As should be evident, short sales pose a true "conundrum".

Kitchens Do Influence Buyers

July 14, 2009

Surveys still reveal that a kitchen remodel will give sellers a big bang for the bucks spent. However, not every seller can afford to replace all their cabinets, add new appliances and install a granite counter. While you might get 80+% of the costs of such a renovation when you sell your house, you might also not have the funds to spend on such a renovation.

Here is what a homeowner might do that would add some sparkle to a kitchen.

Over time, natural wood kitchen cupboards such as the oak and ash and birch cupboards that were used in the 1960s through the 1970s get to look very warn. Cooking vapors in the air and greasy residue attach to the wood and can make them look very grungy. Some cupboards in these time periods had no hardware handles or the hardware finish became dull through the constant use.

So......Remove all of the handles and knobs from both the cabinets and the drawers. Set the screws aside and put the hardware in the sink or in a basin filled with hot water and a few squirts of grease cutting dishwasher liquid. The soap will soak away the grime while you clean the cabinet surfaces.

As for the cabinets you can use a damp sponge with a dab of that grease-cutting dish washing liquid. Murphy's Oil soap can also be used to dampen your sponge. Using a new, clean and damp sponge, wipe the cabinet surfaces again to remove any of the soapy residue. Dry the surface with a lint-free micro fiber cloth and your finish should look as good as new.

It is also possible that your cupboards may need more than just a good cleaning and buffing. If the finish has worn away, it may be necessary to re lacquer or re varnish them. You might even consider painting them for a brighter and more contemporary look. However, before you apply any new finish make sure that the wood surface has been properly prepared. Proper preparation before resurfacing is vital for improving the look of tired cabinets.

When the cabinet surfaces are clean. reattach the hardware. At minimum cost, you will have given the kitchen a crisp and clean appearance. Crisp and clean should always be a sellers goal.

Mid Year Median Prices

July 13, 2009

Here are the median prices for the first six months of the years 2009 back to 2002. They follow a pattern that seems to occur in every real estate cycle. Prices rise, then spike for approximately eighteen months to three years and then fall rather sharply. It is amazing to me in the almost thirty years that I have been tracking real estate prices, that even though causes of the spike and then the decline may differ, the pattern is consistent.

Add three zeros (000) to the prices quoted.

Banning Beaumont.......2009/175.....2008/242......2007/300......2006/325......2005/320

........................................2004/195.....2003/145......2002/125

Bloomington..................2009/135.....2008/223......2007/387......2006/370......2005/367

........................................2004/227.....2003/160......2002/136

Colton.............................2009/120.....2008/217......2007/335......2006/334......2005/330

........................................2004/188......2003/145.....2002/118

Fontana.........................2009/200.....2008/309.....2007/420......2006/415......2005/431

.......................................2004/271.......2003/196.....2002/165

Grand Terrace............2009/195.......2008/280.....2007/380......2006/383......2005/380

......................................2004/278.......2003/211......2002/152

Highland......................2009/150.......2008/267......2007/379......2006/365......2005/317

......................................2004/235.......2003/185......2002/156

Loma Linda.................2009/250.......2008/335.....2007/417......2006/395......2005/399

......................................2004/300.......2003/225.....2002/172

Mentone......................2009/115........2008/329.....2007/300....2006/335.......2005/269

......................................2004/195.......2003/153......2002/134

Moreno Valley............2009/137.......2008/225......2007/380.....2006/375.......2005/374

......................................2004/251.......2003/180......2002/149

Redlands......................2009/225......2008/323......2007/400.....2006/393......2005/421

......................................2004/299......2003/220......2002/198

Rialto............................2009/144......2008/230......2007/375......2006/379......2005/385

......................................2004/240......2003/180......2002/145

Riverside.....................2009/174.......2008/285......2007/402.....2006/416.......2005/417

......................................2004/299......2003/212......2002/182

San Bernardino...........2009/80........2008/184......2007/310......2006/307......2005/255

.......................................2004/175......2003/125......2002/107

Yucaipa/Calimesa.......2009/212......2008/285......2007/370.....2006/374......2005/390

.......................................2004/262......2003/190......2002/159



Remember. Median Prices just show where the transactions are taking place. They do not show what might be the value of any particular piece of property. Medians are where half of the transactions were higher and half were lower.

Summer Events Are Everywhere

July 10, 2009

The Redlands Theatre Festival begins its summer season this evening with "A Little Shop of Horrors" at 8:30 this evening followed Saturday with "Mid-Life! The Crisis Musical" I.m told by some members of the troupe that it is a lot of fun. Tickets are $18. for more info go to http://www.rtfseason.org/ or call 909-792-0562.

Opening this weekend at the Museum of History and Art in Ontario is a special exhibit featuring the cartoons of Charles Schultz. (if you were not aware, Charles Schultz at one time lived in Needles and had a real dog named Spike. This exhibit focuses on his great creation, the beagle Snoopy. The name of the exhibit is "Snoopy as the World War I Flying Ace" and features more than 40 cartoons and photos of the cartoonist at work. Admission is free. For more info call 909-395-2510.

From 8 a.m. to 4 p.m. at Sylvan Park in Redlands the Optimist Club will hold their annual chili cook-off and car show. The Optimist Club says that there will be "hundreds of mechanical masterpieces" on view along with 30 homemade chili's to taste. A $3 donation for adults and $2 for children 12 and under is requested. All proceeds go toward nine local youth programs. For more info go to http://www.redlands-events.com/ or call 909-792-1238.

There will be two events at the Redlands Bowl this weekend. Tonight at 8:15 p.m.Cody Bryant and the Western Sage will perform Western classics. Then Saturday the Navy Band Southwest will present a concert of traditional band music. http://www.redlandsbowl.org/ or 909-382-2780

In Temecula the Temecula Valley International Jazz Festival will be held from tonight through Sunday. moreinfo at http://www.temeculajazzfest.com/ or call 951-678-2517.

This is just a sampling as the inland Empire is clearly a happening place.

"You Are So Beautiful"

July 9, 2009

The San Bernardino, San Gabriel and San Jacinto Mountains are "out". It is difficult for me to believe that this is the month of July. The view of the mountains more resembles the month of November when they are before us in all their "purple mountain majesty".

I can remember when we moved to Redlands in July of 1967. The real estate agent would talk about "view property" and how special it was. For us, having grown up in the flat lands of Ohio, we really could not picture what a mountain view might be like. Quite frankly, in 1967 we did not see the mountains until after Labor Day in September. Then we knew. I wrote to my friends in Ohio: "This must be the most beautiful place in the world." And when the mountains are in full view, the real estate clients being transferred to this area seem to agree.

This morning was clear and bright and as I drove to work the mountains were "out". You could see clear down to the tip of the San Gabriels and to Mt. San Jacinto looming over Palm Springs.

It was interesting to me to see a headline article in the Riverside Press Enterprise that announced we have had fewer smoggy days than in the past two years. Perhaps all our emission control regulations have had an effect. For whatever reasons we can certainly echo a number of musical refrains to describe the beauty of Southern California's Inland Empire.

"You Are So Beautiful"

"On a Clear Day You Can See Forever"

"...the purple mountains majesty" and so on.

A Look at 2009 January to June Transactions

July 8, 2009

It has been interesting to me to follow the numbers for closed real estate transactions reported through the IMRMLS for 14 different communities in the Inland Empire. When I began tracking sales in 2007, my hope was that the numbers would reflect when, or if, a bottom in the market decline had been reached. To the extent that volume is an indicator, the number of sales have clearly increased. The number that is probably necessary for determining a true change in the market direction is the median price of properties sold. Up until now, it has continued to decline.

In addition to the total number of units reported sold through the IMRMLS, I am including the number of those transactions reported a selling price over $400,000 as the upper end of the market has yet to recover.

Banning/Beaumont.......2009/744.......2008/469........2007/351........2006/530........2005/529

.........................................2004/514.......2003/411.........2002/245

Over $400,000.............2009/4...........2008/19...........2007/46..........2006/103........2005/40

.........................................2004/26.........2003/4.............2002/3

Bloomington...................2009/197.......2008/51...........2007/45..........2006/138........2005/118

.........................................2004/110.......2002/131.........2002/76

Over $400,000.............2009/0...........2008/3.............2007/12.........2006/44...........2005/12

.........................................2004/0...........2003/1.............2002/0

Colton..............................2009/376.......2008/124........2007/138.......2006/299.........2005/266

.........................................2004/199.......2003/269........2002/151

Over $400,000.............2009/2...........2008/7.............2007/22.........2006/40...........2005/11

.........................................2004/5...........2003/2.............2002/0

Fontana..........................2009/2156.....2008/827.........2007/660......2006/1359.......2005/1541

........................................2004/1236.....2003/1295.......2002/839

Over $400,000............2009/16..........2008/79...........2007/377.......2006/738.........2005/479

........................................2004/121........2003/3.............2002/0

Grand Terrace..............2009/54.........2008/40...........2007/35........2006/54...........2005/50

........................................2004/49.........2003/45...........2002/30

Over $400,000............2009/1............2008/1.............2007/15........2006/21............2005/9

........................................2004/2............2003/1.............2002/1

Highland........................2009/375........2008/188........2007/200.....2006/362.........2005/414

........................................2004/347........2003/408.......2002/231

Over $400,000............2009/18..........2008/24..........2007/73........2006/116.........2005/99

........................................2004/32..........2003/11..........2002/2

Loma Linda...................2009/72..........2008/64..........2007/75........2006/86..........2005/87

........................................2004/74..........2003/75..........2002/43

Over $400,000............2009/8............2008/14..........2007/42.......2006/42...........2005/32

........................................2004/17..........2003/6............2002/0

Mentone........................2009/53..........2008/46.........2007/32.......2006/48...........2005/49

........................................2004/46..........2003/33.........2002/30

Over $400,000............2009/0............2008/13.........2007/7.........2006/8.............2005/5

........................................2004/0............2003/0...........2002/0

Moreno Valley..............2009/2497......2008/1204.....2007/620...2006/1681.......2005/1437

........................................2004/1437......2003/1287......2002/935

Over $400,000............2009/3............2008/21..........2007/170....2006/551........2005/223

........................................2004/36..........2003/5............2002/1

Redlands........................2009/306.......2008/242........2007/313....2006/381.......2005/465

........................................2004/430.......2003/437........2002/272

Over $400,000............2009/45.........2008/76...........2007/157....2006/178........2005/163

........................................2004/101.......2003/61...........2002/24

Rialto..............................2009/871.......2008/309........2007/266....2006/601.......2005/681

........................................2004/600......2003/625........2002/407

Over $400,000............2009/0...........2008/2............2007/78.......2006/179........2005/63

........................................2004/1...........2003/0............2002/0

Riverside.......................2009/2892.....2008/1476.....2007/1388...2006/2377......2005/2420

........................................2004/2183.....2003/2098....2002/1447

Over $400,000............2009/142.......2008/270.......2007/716.....2006/1376.......2005/871

........................................2004/446.......2003/88.........2002/37

San Bernardino............2009/1979......2008/700.......2007/668.....2006/1358......2005/1261

.......................................2004/1282......2003/1346.....2002/825

Over $400,000...........2009/4............2008/18..........2007/91.......2006/126........2005/49

.......................................2004/11..........2003/8............2002/1

Yucaipa/Calimesa.......2009/308.......2008/263........2007/265.....2006/345.......2005/395

.......................................2004/406.......2003/362........2002/243

Over $400,000...........2009/22.........2008/40..........2007/112......2006/126.......2005/103

.......................................2002/51.........2003/18..........2002/8

There you have it. During the peak year of 2005. the price of homes had risen significantly which led to the increase of sales over $400,000. As you can see, that price point has yet to return. What is driving the present market are home being sold under $300,000.

Closed Sales as Reported through the IMRMLS on July 7, 2009

July 7, 2009

Here are the numbers for closed sales in the month of June in the years 2002-2009. These numbers are interesting to track as they rather clearly indicate the trend of this particular real estate cycle.

Banning Beaumont.......2009/134.......2008/103.......2007/67........2006/131.......2005/97

........................................2004/102.......2003/89.........2002/67

Bloomington..................2009/42.........2008/15.........2007/10........2006/23.........2005/27

........................................2004/22.........2003/19.........2002/17

Colton.............................2009/71.........2008/33.........2007/21........2006/66.........2005/59

........................................2004/29.........2003/57.........2002/44

Fontana..........................2009/369......2008/247.......2007/98........2006/244.......2005/312

........................................2004/237.......2003/224.......2002/223

Grand Terrace..............2009/14.........2008/12.........2007/8..........2006/11..........2005/11

........................................2004/4...........2003/9...........2002/9

Highland........................2009/64.........2008/43.........2007/23........2006/65.........2005/73

........................................2004/60.........2003/70........2002/60

Loma Linda...................2009/14.........2008/14.........2007/11........2006/20.........2005/19

........................................2004/13.........2003/18.........2002/7

Mentone........................2009/16.........2008/7...........2007/3..........2006/9...........2005/12

........................................2004/11.........2003/11.........2002/7

Moreno Valley..............2009/403......2008/307......2007/103......2006/299.......2005/351

........................................2004/254......2003/209......2002/277

Redlands........................2009/53........2008/48........2007/58........2006/79..........2005/84

........................................2004/88........2003/82........2002/74

Rialto..............................2009/168......2008/73........2007/34........2006/116........2005/116

........................................2004/123......2003/119......2002/124

Riverside.......................2009/562......2008/388......2007/235.....2006/419........2005/490

........................................2004/436......2003/392......2002/412

San Bernardino.............2009/336......2008/174......2007/102.....2006/231........2005/247

........................................2004/242......2003/233......2002/232

Yucaipa/Calimesa........2009/47.........2008/54........2007/54.......2006/77..........2005/81

........................................2004/74.........2003/81........2002/59



Some observations. For the most part these numbers do not include sales of new construction. In 2009, there are some listings of builders unsold inventory.

Smaller communities such as Loma Linda and Grand Terrace show a remarkable consistency in the number of transactions.

Of the 14 communities that I track only 4 had fewer closed sales in June of 2009. The larger communities such as Fontana, Moreno Valley, Riverside and San Bernardino all had significantly higher closed transactions than in any previous year.

It will be interesting to see if these trends continue.

Speaking of Clean Air

July 6, 2009

I recently read an article about some research at NASA that suggested that houseplants are a great antidote to many of the unhealthful substances that contribute to poor indoor air quality. Greenery soaks up VOCs (Volatile Organic Chemicals), breaks them down and uses them for food. The suggestion was that two to three houseplants in 8 to 10 inch pots for every 100 square feet of living area will help to clean up the air you breathe.

Here are some of these recommended super plants.

Bamboo Palm

Lady Palm

Dwarf Date Palm

Janet Craig Dracena

English Ivy

Kimberly queen

Weeping Fig

Gerbera Daisy

Corn Plant

Warneckei Dracena

Boston Fern

Peace Lily

Rubber Plant

Florists Mum

Hot only will these plants make your home pretty, they will contribute to the healthfulness of the air you breathe. Plants inside and outside of our homes are valuable in many ways.

Celebrate ! 4th of July Events

July 3, 2009

Today is an official holiday day. Tomorrow is really the holiday but in the American tradition of three day weekends, we are given today to celebrate the 4th of July. It is wonderful that the 4th of July celebration has remained on the actual 4th day of July.

There are more picnics, concerts, festivals and fireworks throughout the Inland Empire than I can mention. However, here are a few.

Probably the longest running event is the celebration of Independence Day that has been a part of Redlands since 1968. It begins with various community organizations setting up booths at Sylvan Park. From the first time I experienced this great participatory event, I was reminded of an old fashioned community festival. I thought I was back in the Iowa of the musicals Oklahoma or The Music Man. The Redlands 4th of July Band dons their old time band uniforms that adds to the nostalgia. This park of the day is free, but the piece de resistance has become the fireworks show at the University of Redlands Stadium. Tickets will be available at the gate and can be purchased at the Clerk's office at City Hall today. Gates will open at 6 p.m.

Another big fireworks extravaganza will be held Saturday at the Auto Club Speedway. Here the gates will open at 2 p.m. with all sorts or events taking place: a car show, a motorcycle ride, Wine tasting, "Twinkle Time" a family musical, children's activities and a variety of musical shows.

In Riverside, White Park will be the site of a concert put on by the Riverside County Philharmonic Orchestra and the Philharmonic Foundation.

If you are a baseball fan, you can attend the 66er's game at Arrowhead Credit Union Park in downtown San Bernardino. The game will be followed by a great fireworks show. The game starts at 7 p.m.

In all the festivities, I hope you pause to remember that we are celebrating the birth of our nation and the freedom that came to us.

Some Comments as I Look at the IMRMLS Data

July 2, 2009

As you might have guessed, I am fascinated by data. I measure it in as many different ways as I can to see if it will give me trends or information that can be used to counsel buyers and sellers.

As I post some of the data, I do think there are some interesting correlations to be found.

Sales of Bank-owned properties are dominating the market.

Sales known as "short sales" are a significant portion of the active listings and to some degree of the pendings. However, they remain in a pending status for a very long time. (Almost in all of the 14 communities that I track, there are more short sale listings than there are bank-owned listings. It would be of huge benefit both to consumers and to lenders if the lenders would act on short sale offers in a timely manner. Six to nine months for a decision as to whether an offer is acceptable has increased the probability that the loss to the lender will be greater.)

In the communities with the lowest ratio of pendings to listings, there is the highest percentage of "standard" listings. (A standard listing is one that is not under threat of foreclosure or bank-owned - just a seller who for personal reasons wishes to offer the property for sale.)

The median price seems to be stabilizing in the listings and pendings. (I have yet to pull the data for the closed sales as it is not usually complete until the second week of the month after.)

These are just random observations. Examine the data for yourselves.

July 1, 2009 - Listings and Pendings Reported Through the MLS

July 1, 2009

2009 is now at the halfway mark. If the data that I have been tracking for the past 2 years is any indication, we have developed a fairly active real estate market, albeit in the bottom end of our price ranges. My data is from the IMRMLS and is only as accurate as the reports submitted to the IMRMLS by its member agents.

The following numbers are the active listings, the properties presently in escrow and the percentage of the pending sales to active listings.

Banning Beaumont............Acitive/562..........Pending/251...........Percentage/44.7%

Bloomington.......................Active/101...........Pending/93.............Percentage/92.1%

Colton..................................Active/133...........Pending/116...........Percentage/87.2%

Fontana...............................Active/618...........Pending/804..........Percentage/1.30.1%

Grand Terrace...................Active/20.............Pending/26............Percentage/1.3%

Highland.............................Active/181............Pending/123..........Percentage/68%

Loma Linda........................Active/67..............Pending/32............Percentage/47.8%

Mentone.............................Active/34..............Pending/14............Percentage/42.2%

Moreno Valley...................Active/652............Pending/856.........Percentage/1.313%

Redlands............................Active/254............Pending/124..........Percentage/48.8%

Rialto..................................Active/584............Pending/337..........Percentage/57.7%

Riverside............................Active/1185..........Pending/975..........Percentage/82.2%

San Bernardino.................Active/939............Pending/639..........Percentage/68.1%

Yucaupa/Calimesa...........Active/255............Pending/90............Percentage/35.3%



As you can note, some communities have more properties in escrow than they have active listings. Normally you would expect there to be more active listings, but this real estate market seems to follow its own trends. Since I was not tracking data in past recessionary markets, or for that matter in boom markets, I have no data to use to make a comparison. However, we started 2009 with the percentage of pendings to listings as low as 11% and as high as 49.9%, it is clear that buyers have reentered the market place.