Thursday, January 29, 2009

California Vintners Come to the Inland Empire

January 30, 2009

This Saturday, January 31, the Rotary Club of Redlands will hold their 24th annual wine tasting event. In ints beginning years, it was held at the San Bernardino County Museum. However, it has outgrown that venue and is now held at the University of Redlands' Orton Center which is located at 1200 E. Colton Avenue. (Actually the Orton Center is easily located just west of Grove Stareet with a driveway off of E. Brocton Avenue.)

Headlined as "Red, Wine & Blues" the event features many California vintners and food specialties from Inland Empire Restaurants. The club members have assembled items for silent auction.

There will also be some special weekend trips and for wine connoiseurs sosme special wines and 6 liter bottle of wine that a member has held since the initial wine tasting. These will be auctioned in a lively live auction.

The event takes place from 5 p.m. to 8 p.m.. Tickets are $50 in advance or $60 at the door. Obviously attendees must be 21 or older.

More information can be found at http://www.redwineblues.com/ or call the Rotary office at 909-798-0953. (or you can call me, Shirley Harry at 909-748-7002.

Stimulus Package Passes in the House of Representatives

January 29, 2009

President Barrack Obama has been successful in obtaining the support of the Democrats in the House of Representatives. There will always be controversy over what programs and over how much to spend to recreate a healthy U.S. economy.

Some of the provisions that may actually help ordinary people are the possible reduction in the withholding amount taken from their paychecks. For folks who have been laid off from work, the extension of their unemployment benefit checks will be a help as will increases in the amount of food stamps issued to them.

While all of these programs are designed to put money in citizens hands, the help for homeowners is still up for discussion. Fortunately, like many housing market down cycles, prices do come down to a level that is seen as a good value. The statistics from December that show the increases in the number of sales are a sign that we may have reached that price point. For those of us in the trenches of the real estate industry, what needs to happen is a speeding up of the "short sale" process. We believe that a significant number of properties could be sold before they reach the sale on the court house steps. What is necessary is for lenders to respond quickly to a buyer's bid and to process a sale. Losses to the lender could be cut and properties would not have time to become overly neglected.

I have read that the government is working with servicers and investors to make the short sale process more efficient. Let's hope that monies to accomplish this are in the final stimulus package.

Wednesday, January 28, 2009

It's So Beautiful !

January 28, 2009

If you are living in the Inland Empire of Southern California, just look outside. It is such a beautiful morning! The temperatures should climb to the mid 70s and the air is crisp and clear.

How great is that!





I saw this Peanuts cartoon in the Los Angeles Times newspaper yesterday as I was scanning the news for positive reports. As a long time fan of "Peanuts", I have always liked Charles Schulz's charming cartoon strip. I love the "Big Blue Skies, Bright Suns and Beautiful Lawns". Yes, we are in some challenging economic times, but we can still stop and appreciate that which is good.

Prices may have declined substantially, but a news bulletin cited the 84.9% rise in the pace of properties that are selling. That can translate into "Happy Pictures" for all those new homeowners.







Tuesday, January 27, 2009

Here Are Some Positive Tidbits

January 27, 2009

If you set your mind to find some positive signs in the present economy, you can find a few.

1) The number of existing homes sold in December showed unexpected gains. (if you checked this blog on January 8, you would have noted this trend in the Inland Empire.)

2) The Conference Board's index of leading indicators also showed a gain in December.

3) Statisticians reported that 60% of the Inland Empire families could qualify for the median priced home.

4) Price declines have opened the door to home ownership for folks who were priced out in the past 5 years.

5) Interest Rates are remaining low.

Some of the positive signs are the normal trends in market cycles. In the best of all possible worlds, the government will enact programs that build on these signs.

Monday, January 26, 2009

Do We Need Some Pollyanas Now?

January 26, 2009

There was a novel and a movie that featured a young girl enduring a disruption in her family and the need to be cared for by a relative. It has been such a long while since I read the story, that many of the details escape me. However, the term "pollyana-ish" did become part of the American vernacular. It meant being optimistic in the face of hardship. Used in a derogatory sense, it implied being unrealistically optimistic.

Since for a least 6 months, we seem to be inundated with doom and gloom, perhaps some positivism might be helpful. Several weeks ago, Time Magazine had an article on some researchers who seemed to have discovered that happiness is contagious. If you live with a happy person, chances are you, too, will be happy as will the people with whom you have frequent contact. Conversely, I suppose, if you are around doom and gloom folks, you will have a doom and gloom outlook.

So.....let's start this week with being "Pollyannas". It will be a challenge, but the economic times that we are in may have the outcome of a stronger and more caring population.

Friday, January 23, 2009

Environmentally Friendly Thngs to Do

January 23, 2009

The city of Fontana is inviting volunteers to show up Saturday morning at 8 a.m. at Martin Tudor Jurupa Hills Park located at 11660 Sierra Avenue. It is a city sponsored clean-up day for the park. Bring your rakes and brooms and litter bags (city will probably have supplies) and help make this park beautiful. For more information you can call 909-350-6505.

The Humane Society of San Bernardino Valley is hosting an e-waste recycle day on Saturday. This is a great opportunity to get rid of your electronics and also help out a worthwhile organization. The site will open at 9 a.m. on Saturday. The Humane Society is located at 370 W Orange Show Road in San Bernardino. For more information call 909-386-1400, ext.224 or go to their web site at http://www.hssbv.org/.

A fun activity that will begin at noon Saturday and continue for the next 4 weeks is the ReUSE:ReCYCLE Art Workshops. For a cost of $50 for 4 weeks of instruction, you can learn to turn every day scraps and throwaways into creative and functional pieces of art. The classes will be held at the Art Pod Studio, 11996 Jack Benny Drive in Rancho Cucamonga. For more information call 909-477-3007 or on the web at http://www.artpodstudio.com/.

Thursday, January 22, 2009

Some Suggestions for Lowering Your Energy Costs

January 22, 2009

A recent electric bill was almost half of what has been the usual amount. I hadn't done any special energy saving changes, but the difference was the result of the pool motor needing to be replaced and hence being off for a few weeks. Wow! having a pool does impact the monthly electric bill. However, swimming laps in a pool is important to me.

So what are ways to cut your energy bills.

1. During these cooler months, run your pool pump for a shorter time.

2. Set you thermostats at 68-72 degrees.

3. Call your utility company and get an energy audit.

4. Check your insulation.

5. Seal your windows and doors.

6. Replace older windows with new dual panes. (According to researchers, this is the home improvement that gives you the best return on the dollars spent.)

7. Then there are the light bulbs. (I found it took some time to get used to the light produced by the new energy saving bulbs, but they do cost less to operate.)

8. Change your furnace filters frequently

9. Install ceiling fans and don't use the AC unless it is unbearably hot.

10. Southern California Edison will install a turn off device on your AC and give you a discount on your electric bill. (We have done this for years and it has not been an inconvenience.)

11. Insulate your hot water tank. If you need a new tank, consider the tankless heaters.

12. Don't fall asleep watching that LED or plasma TV. It absolutely sucks juice.

13. Check out all those little green lights that indicate that your appliances are plugged into the electric current. If you can, unplug those that you are not using. According to one source, standby power accounts for 10% of residential usage.

14. Check out the rebates that are available for replacing refrigerators, freezers and other appliances.

15. Set your sprinkler timers to every other day, during the cold season.

16. Install drip watering systems where possible.

After a month or two of these energy saving changes, check your bills. Hopefully you will be pleasantly surprised.

Wednesday, January 21, 2009

Today's Real Estate Market

January 21, 2009

From 2003 until sometime in 2005 or 2006, the real estate market was described as a sellers' market. Sellers' markets are characterized by properties selling quickly and at the seller's asking price. Sellers become unwilling to negotiate and typically buyers will concede to the seller's price. Generally sellers' markets are also times of rising prices.

Sometime in 2006-2007 the market transitioned to a market where sellers no longer held the upper hand, and buyers began to sit on the sidelines as they watched to see if sellers would reduce prices and by how much.

Unfortunately, by 2008, the absence of buying activity had seriously affected home values and those homeowners who had entered into 100% financing, began to find that they owed more than their home could be sold for. The foreclosure rate accelerated and by late 2008, almost 50% of the properties being sold were bank-owned with a smalal portion being shory sales. Because the affordability rate became almost 60% the Inland Empire, buyers began to buy and, using traditional terminology, the market was portrayed as a "Buyers' Market".

As this real estate market unfolds, agents have come to create a new term for the market we are experiencing: "Bankers' Market". In a "short sale" situation, it is the bank/lender who decides what the price and terms of a transaction will be. In a "real-estate-owned" transaction the bank/lender sets the price and offers the property "as-is". The buyers can take it or leave it. There is no negotiating.

Since it is the bank/lenders that also provide the financing, they also determine how much they will lend on any particular property. This is the market where neither the seller nor the buyer is in control. The banks/lenders set the price, set the condition of the property and set the criteria for the loans. According to the media, banks are in trouble because of their past lending practices. If they would consider the give and take between sellers and buyers in establishing prices, there might be fewer real-estate-owned properties and more "short-sales' in which the lenders might lose less of their investment.

Tuesday, January 20, 2009

Taking Possession

January 20, 2009

I was interested by one of the op ed pieces about the change in administration that is taking place today. The writer mentioned that the bushes would be moving out of the White House today and the Obamas would be moving in. All of this possession moving would be taking place while the inaugural activities were taking place. Last night the Bush family was in possession, tonight the Obama family will be the occupants of the White House.

Those of us in the business of selling homes know that the transition in the occupying of a property is one of the important coordination steps in a real estate transaction. Our purchase agreements have a clause which sets the time frames for this transition. It can be the day escrow closes or some time in the future. A buyer could even take possession under a rental agreement prior to the closing of the escrow.
The same day transition can be very tricky. The moving vans can be early or late. There can be more to move than was estimated. A van from out of the area can arrive with the new owners' possession before the old owner has vacated the property. The moving day can require much patience.

Taking possession of a new residence is an exciting time. It is important to pay attention to the details in planning for your move.

Monday, January 19, 2009

"I Have a Dream..."

January 19, 2009

This week is a milestone week in the history of the American people. Today is a holiday celebrating the birth of Dr. Martin Luther King, an important leader in the civil rights movement of the 1960s. His famous "I have a dream..." speech delivered on August 28, 1963, has kept alive the hopes and aspirations of America's African American population. Yesterday, millions gathered again on the Washington Mall, not for a protest march, but for a celebration.

Tomorrow, Barack Obama will take the oath of office and become the first African American to be elected to the highest office in our land. We have come a long way in the 46 years since Martin Luther King delivered his historic speech.

In my business, the real estate business, we often speak of dreams; dreams of homeownership and dreams of what the perfect house will look like. These are the dreams that have been overshadowed by the current economic crisis. They probably pale in comparison to the dream of freedom that the civil rights movement espoused, but in part, are one component of the freedom of choice.

The government is struggling to find ways to help folks keep their homes. Homeowners who want to retain their property must be willing to seek the help that the government is offering. Real estate values have cycles. The current one has been downward. If history repeats itself, over time, the cycle will rebound. In the meantime, since human beings need shelter, exploring the possibilities of what is being offered by the government could keep you in your home. If you dreamed of homeownership because you truly wanted to live in a place of your own and it was not just for investment purposes, you may still be able to keep your dreams.

This week is certainly the time to believe in dreams!

Friday, January 16, 2009

Family Outings for the Weekend

January 16, 2009


As of later, there is so much going on in the Inland Empire that it is hard to keep up with it. No matter what your interest ,may be, there is probably some entertainment available. As is becoming usual, the San Bernardino County Museum will be holding a special weekend event. This Saturday and Sunday, January 17 and 18, the model train folks will be showing off there model trains. This is a very popular event and is a great family outing. The museum is located at 2024 Orange Tree Lane in Redlands. The hours are 9 a.m. to 5 p.m. The museum will also be open on Monday, January 19th which is the Martin Luther King holiday.


If you are a music lover, the San Bernardino Symphony will be performing at 3 p.m. Sunday afternoon at the California Theatre of Performing Arts, 562 W. 4th Street in San Bernardino.


The orchestra is under the direction of Carlo Ponti and this concert entitled "Fanfare for the Family" will feature Carlo's younger brother Edoardo narrating Camille Saint-Saens' The Carnival of the Animals". For information you can call 909-381-5388 or go online to http://www.sanbernardinosymphony.org/.



For first-time homebuyers there will be a free workshop from 9 a.m. to 4 p.m. on Saturday, January 17th at Cal Baptists university, 8432 Magnolia Avenue in Riverside. The workshop will be held in Mission Hall, Room 109. The Fair Housing Council of Riverside County is putting on the workshop which will be informative for any persons thinking of purchasing a home this year.

For more information or to reserve a seat, call 951-682-6581 or 1-800-655-1812.

Wednesday, January 14, 2009

Time to Collect Your Financial Documents

January 15, 2009


I have a tendency to keep all sorts of financial documents. Statements about my 4091k, bank statements, cancelled checks, deposit slips, credit card receipts, tax bills and tax returns, etc., etc, etc.


I happened across an article (actually an ad for Consumer Reports Magazine) that had a chart tossing those financial documents. I share the information with you.


Bank-deposit slips..............................................After you reconcile the statements


Canceled checks..................................................Generally after 1 year,


..............................................................................7 years for checks that support tax filings


Loan documents.................................................Not until you repay the loan


Product receipts.................................................When the warranty expires


Credit card receipts...........................................When you get your monthly statement and . ..............................................................................it matches your purchases


401(k) statements.............................................When you get a new one


Personal state and federal

tax returns and supporting documents..........After 7 years





When you toss remember to shred. If you look on line at http://www.switchboard.com/ or in the Yellow pages, you can find a mobile shredding company. If you have very much to shred, they are very beneficial for not a lot of money.

Reminders That We Live in Earthquake Country

January 14, 2009

Last weeks little shakes served to remind me that I need to check out my earthquake preparedness. Over time, I tend to use up my canned foods and bottled water supplies. And frankly, I have not yet purchased a survival kit. I did notice that 2 person and 4 person back packs were available at Home Depot. I'm thinking that it might be wise to have one of these kits available should the need arise.

The San Bernardino Sun newspaper this morning offered the following tips:

Conduct a "hunt hazard" to look for things like your TV, computer, bookcases, furniture, unstrapped water heaters and any other items that could go fling across the room in a major shake.

Make a plan that includes how you will evacuate your home, how you will reunite with other family members, who could you call out of state, where are you going to store the emergency supplies, etc.

You might even want to have a contractor check your building for structural weaknesses such as masonry facades, chimneys or patio covers that might come tumbling down.

Locate where you could "drop, cover and hold on". Sturdy tables and desks are possible locations
for protection from falling objects.

None of these steps will impede are your daily living, but should that earthquake occur, you will be very happy that you made these preparations.

Tuesday, January 13, 2009

Fixing or Remodeling - Permits Could be Important

January 13, 2009

I read an article in the newspaper this morning that d0-it-your-selfers are coming back. First off, I never knew that they went away. However, it seems that home supply stores are seeing an increase in shoppers of home improvement items.

If you are one of the folks who plans to do some fixing or remodeling or even adding some space to your property, one of your first stops should be your local building and safety department, often called "Community Development" or, as in Redlands, "Quality of Life". As a real estate agent, I have learned that work done without the proper permit can impact the sale of a property. Appraisers will make note of unpermitted work and often the "after-built" permit will be required. For a seller, this can delay a closing and/or be expensive if work violated building codes.

Generally speaking, building permits are required for any work that could create a safety issue. If a patio roof could fall, someone could be hurt. If the electrical was not properly installed, someone could be hurt. Knowing the building codes is important for every potential project.

A licensed contractor is not required to obtain a building permit. You can obtain a permit to do work on your own home, generally with the limitation that you are not intending to sell in the next six months. In any event, in California the disclosure laws require the seller to disclose all additions and alterations and whether they were done with or without a permit..

The information required to obtain a permit will vary with the type of project you are proposing.

Sometimes all that is needed is the make and model number of what is being installed. If you are moving walls or adding space, you will need a set of drawings - sometimes simple, sometimes completed by a professional.

Remember, a wise first step is to consult the governmental entity that will issue a permit. They probably have written materials and will be ready to answer your questions.

Monday, January 12, 2009

New Year - Thinking of New Flooring

January 12, 2009
We are slightly over a week into the new year and we've set our goals. One of them could be to freshen up our present homes. Touring the new tract model homes and also visiting real estate agents' open houses is one way to shop for redecorating ideas. In my 30+ years in real estate, it has not been unusual to have open house visitors coming to look for ideas that they can use in their homes. One basic redecorating project is new flooring - either carpeting or hard surfaces.
Wall to wall carpeting has been popular for at least 60 years. Since the advent of synthetic fibers, it has become even more popular. Wool carpeting was the standard, but now-a-days some of the synthetics such as the acrylics and nylons have the appeal of easier maintenance.
As for the hard surface flooring, natural stone tiles such as travertine have become extremely popular. Regular ceramic tile offers a very wide variety of color and of texture, often simulating marble and travertine. The down side of these is that they are very hard and can be very cold underfoot. Also the grout lines can become discolored by dirt over time and become a bit difficult to keep clean. However, stone, and ceramic are probably the most durable flooring you can install.
Another popular choice, is laminate flooring. These are the floors that can be real wood veneer that is laminated to plywood and that will give the look of hardwood flooring. They do require special cleaning and unlike real hardwood flooring, they usually cannot be refinished.
Hard wood floors such as maple, oak and walnut have been around since homes were built. They offer a warmth to a home that the stone and ceramic floors do not. You can note by visiting homes built in the late 1800s that these floors have a long lifetime.
Another flooring material that has come into vogue in the 21st century is bamboo. It is installed in planks and resembles a hardwood floor. It is definitely to be considered if you are eco-friendly as bamboo is a renewable resource.
Lastly, there are thousands of different vinyl flooring available - either in sheets or in tiles. These floors can look like wood, or tile or stones and the colors and patterns are endless.
So many choices. Consider how you live and what will best create the environment for your daily activities.

Friday, January 09, 2009

For Film Afficianados

January 9, 2009

If you are a fan of movies, you are fortunate to live in the Inland Empire. In its 20th year, the Palm Springs International Film Festival opened last night with the Gala event. From now until January 19, 2009, you will have the opportunity of view a wide variety of films selected from films created world-wide. You can go to http://www.psfilmfest.org/ and get a schedule of what will be showing and where. It is a first rate event and has given us Inlanders the best of the best without traveling to Cannes, Sundance or Hollywood. Just one more reason that Riverside and San Bernardino counties have become a desirable location.

If you are not quite ready for the edginess of some of these films, you can see live theatre locally.

The Lifehouse Theater at 1135 N. Church Street in Redlands is presenting "Beauty and the Beast" January 10 through February 15 for information http://www.lifehousetheater.com/.

"On Golden Pond" opens this evening at the Grove Theater, 276 E. Ninth Street in Upland. http://www.grovetheatre.com/

Saturday at 8 p.m. and Sunday at 3 p.m., the Redlands Symphony will present their first concerts on 2009 at the University of Redlands Memorial Chapel. www.symphony@redlands.edu.

Thursday, January 08, 2009

14 Inland Empire Communities - Closed Sales 2003-2008

January 8, 2009
Here is an overview of the volume of closed residential real estate transaction for the years 2003 through 2008. To date, Moreno Valley, Fontana, Grand Terrace, Loma Linda and the Banning/Beaumont/Cherry Valley area have exceeded the number of transactions in the year 2003. The good news, however, is that closed transactions are generally significantly above the number in 2007. Always, the question: "Have we bottomed out?" Volume may have, but the median pricing data is not yet rising - hopefully no longer declining.
Banning/Beaumont.....2008/1205.....2007/615......2006/942......2005/1118......2004/1022
2003/878
Bloomington.................2008/217........2007/84........2006/229......2005/284.......2004/272
2003/271
Colton............................2008/427........2007/201.....2006/517.......2005/571.......2004/500
2003/541
Fontana........................2008/2809......2007/1050...2006/2277....2005/3039....2004/2663
2003/2668
Grand Terrace............2008/100........2007/72........2006/1016....2005/148.......2004/117
2003/98
Highland......................2008/567.........2007/340.....2006/616......2005/833.......2004/699
2003/766
Loma Linda.................2008/148.........2007/114......2006/176......2005/152.......2004/151
2003/144
Mentone......................2008/89...........2007/58........2006/76........2005/99.........2004/80
2003/97
Moreno Valley............2008/3859......2007/1019....2006/2530...2005/3380....2004/3095
2003/2864
Redlands......................2008/561........2007/548......2006/718......2005/901.......2004/918
2003/937
Rialto............................2008/1082.....2007/467.......2006/967......2005/1364....2004/1272
2003/1312
Riveride.......................2008/4272......2007/2061....2006/3770...2005/5000....2004/4536
2003/4495
San Bernardino...........2008/2231......2007/1099....2006/2288...2005/2646....2004/2635
2003/2811
Yucaipa/Calimesa......2008/569........2007/441.......2006/675.....2005/793.......2004/845
2003/761
Moreno Valley and the Banning/Beaumont/Cherry Valley areas in 2008 closed more transactions than any of the six previous years. Let's hope that the volume rise in transaction numbers will stabilize the prices.

Wednesday, January 07, 2009

December and November Median Prices - 2008

January 7, 2009

For all you data wonks who have been following my postings regarding the Inland Empire real estate market as reported through the IMRMLS, here is the data on median prices for closed sales in November and December 2008.

Banning/Beaumont......December/$203,000...........November/$196,950

Bloomington..................December/$159,000............November/$142,000

Colton.............................December/$145,000............November/$134,900

Fontana..........................December/$220,000...........November/$240,000

Grand Terrace..............December/$175,000............November/$240,000

Highland.........................December/$217,000............November/$185,000

Loma Linda...................December/$295,000............Novemebr/$240,000

Mentone........................December/$154,000............Novemebr/$138,000-$325,000

Moreno Valley..............December/$195,000............November/$165,000

Redlands.......................December/$265,000............November/$239,000

Rialto.............................December/$148,500.............November/$179,000

Riverside......................December/$200,000............November/$211,750

San Bernardino............December/$104,000............November/$110,000

Yucaipa/Calimesa.......December/$236,900.............November/$240,000



For me, median prices can always be taken with a grain of salt. The way I find them is to take the total number of closed sales, divide by 2, and then find the transaction that was at the halfway mark. As was the case in Mentone, there are sometimes too few sales and the spread at the halfway mark is too great to pick the exact transaction. The one bit of data that stands out is that in all 14 communities, half of the closed sales were under $300,000. This reflects where the present activity is taking place, probably influenced by where the loan money is most available.

At any rate, I am a data wonk and I do find tracking the data interesting. I am not sure that it yet tells me what the future holds. However, it does tell me that if the price is right, the goal of owning a home is still alive and well.

Tuesday, January 06, 2009

December 2008 - Closed Sales

January 6, 2008

Just as the ratio of pending sales to listed properties has risen, the closed sales in December (historically a slow month) were up considerably from the past two years. Here is the data as reported through the IMRMLS.

Banning Beaumont...2008/112......2007/38......2006/54......2005/92......2004/70......2003/66

Bloomington..............2008/37........2007/8........2006/18.......2005/23......2004/30......2003/26

Colton.........................2008/59........2007/6.......2006/27.......2005/47.......2004/54......2003/57

Fontana......................2008/355......2007/76.....2006/162.....2005/217.....2004/243....2003/250

Grand Terrace..........2008/6...........2007/3.......2006/6.........2005/16.......2004/9.........2003/6

Highland....................2008/60.........2007/21.....2006/36.......2005/67.......2004/59.......2003/61

Loma Linda...............2008/15.........2007/5.......2006/7..........2005/4........2004/14........2003/13

Mentone....................2008/3...........2007/2.......2006/1..........2005/12......2004/4..........2003/13

Moreno Valley..........2008/456......2007/104...2006/145.....2005/264....2004/286......2003/276

Redlands...................2008/51.........2007/32.....2006/44.......2005/68......2004/91.........2003/91

Rialto.........................2008/122.......2007/42.....2006/65.......2005/120....2004/116.......2003/117

Riverside..................2008/456.......2007/155...2006/228.....2005/397.....2004/376......2003/365

San Bernardino.......2008/259.......2007/74......2006/145.....2005/257.....2004/246......2003/276

Yucaipa/Calimesa...2008/46.........2007/24.....2006/48........2005/58......2004/67.........2003/58

In many communities the volume of closing has exceeding the peak years of 2003, 2004, 2005.

Prices have fallen enough that the affordability index allows almost 60% of the Inland Empire population to qualify for a median priced home. Interest rates have continued to be stable for purchase in the $350,000 or less price range. Where sales have been sluggish or relatively non-existent is in the $600,000 plus market. This price range has been the most affected by the lack of loans. Even today, many of these "jumbo" loans are being written at a 9% interest rate, making buyers wary of continuing with a purchase. The communities where there is a good supply of lower priced homes have been booming, while communities with more higher end properties are less active. Median prices and yearly reports will be posted soon.

Monday, January 05, 2009

Properites on The Market and Those in Escrow - 01/01/2009

January 5, 2009

As of January 1, 2009, in all of the communities I have been tracking, there were fewer active listings in the IMRMLS than on January 2, 2008. This is just factual information and what it portends for the Inland Empire real estate market in 2009 remains to be see. However, many economic reports state that the supply of unsold inventory must decrease before the housing market can stabilize. The following data may be indicative of a market that has improved.



Banning/Beaumont...........Listings/774..........Pendings/193..........Percentage of P to L/25%

Bloomington.......................Listings/173..........Pendings/53............Percentage of P to L/30.6%

Colton..................................Listings/329.........Pendings/91............Percentage of P to L/27.7%

Fontana...............................Listings/1572.......Pendings/598.........Percentage of P to L/38%

Grand Terrace...................Listings/47...........Pendings/9..............Percentage of P to L/19.1%

Highland.............................Listings/336.........Pendings/92............Percentage of P to L/27.4%

Loma Linda........................Listings/82...........Pendings/25............Percentage of P to L/30.5%

Mentone.............................Listings/55...........Pendings/3..............Percentage of P to L/5.5%

Moreno Valley...................Listings/1723.......Pendings/737..........Percentage of P to L/42.7%

Redlands............................Listings/359.........Pendings/70............Percentage of P to L/19.5%

Rialto..................................Listings/728.........Pendings/292..........Percentage of P to L/40.1%

Riverside...........................Listings/2430.......Pendings/744..........Percentage of P to L/20.6%

San Bernardino................Listings/1852........Pendings/482..........Percentage of P to L/26%

Yucaipa/Calimesa...........Listings/383..........Pendingd/76............Percentage of P to L/19.8%

The change since January of 2008 is encouraging. At that time the highest percentage of pendings to listings was 10%. Since mid year we have seen a gradual increase in the number of properties entering escrow. The next data to consider will be the number of closed residential sales in December.

Friday, January 02, 2009

Mark the First Sunday

January 2, 2009

If you want some fun in 2009, mark the first Sunday of each month. Riverside First Sundays is a free event for families with kids and young teens. 7 organizations in downtown Riverside host performances, crafts, workshops and other activities from1 to 4 p.m. on the first Sunday of each month. This is a great way to participate in the community and share the fun with friends and family. These events take place at Lemon Street and Mission Inn Avenue. For more information you can call (951) 826-5369 or on the web: http://www.riversidefirstsundays.org/.

Continuing the tradition started almost 10 years ago, the San Bernardino County Museum will have a free admission Sunday, January 4 and on the first Sunday of each month. The museum is located at 2024 Orange Tree Lane in Redlands. The hours are 9 a.m. to 5 p.m. For more information you can call (909) 307-2669 or on the web: http://www.sbcountymuseum.org/.