First Sundays

February 27, 2009

Can you believe that Sunday will be March 1st? It seems as though February came and went in a flurry of constant economic news. It will be interesting to see the data for February when I compile it next week. I am anxious to see if it supports Leslie Appleton Young's analysis of the Inland Empire market that she presented on Wednesday.

On a different subject - first Sundays have become a tradition at the San Bernardino County Museum. I am happy to say that Century 21 Lois Lauer Realty began the sponsorship of a free admission day at the museum and the museum association and the county supervisors have continued supporting a free admission day on the first Sunday of every month.
The staff also plans a special event to enhance the visit to the museum. This month the Embroiderer's Guild will be showing off their work and speaking on the art of embroidery.

The special exhibit that went up in the Fisk Auditorium in February is "Gadgets and Gizmos", a really fun showing of implements of the past.

As the Inland Empire population grows, so do the cultural opportunities. A true plus for the residents.

Fear and Desire

February 26, 2009

The two emotions that drive the housing market are reputed to be "fear" and "desire". If you read the media or listen to the media, you are aware that favorite words are "fear" and dread". So what has happened to desire? What is the "desire" that motivates folks to purchase a home?

If you have suggestions, click the comment button and input your ideas. In the meantime, here are a few "desires" that have motivated my Buyers and Sellers.

1. Sellers have reached a point where the maintenance and size of their property is greater than they want. (Downsizing)

2. Sellers have outgrown their present home and want a larger one.

3. Buyers want or need a larger home. (New baby or parents coming to live with them.)

4. Sellers for job reasons or family reasons need to move to another city.

5. Buyers have new employment in our areas (Transfers and Relocators)

6. Buyers have been renters and want to have a place of their own.



These are just a few of the situations that fuel the "desire" to purchase real estate. At one time, the "desire" included building future equity by paying on a mortgage rather than paying rent to a landlord. The "desire" included having a space that you could call your own. Somewhere in the 20th century, the "desire" that infiltrated home ownership became "making money". Your home became primarily a wealth generator. Hence, the cyclical economic downturns focused on the money you lost when the value of your home declined and "fear" took hold of the real estate market.

If anyone has a "desire" to own a home, certainly now is the time to explore the real estate market. Prices have declined to a point where your mortgage payment may likely be less than the rent you are paying. Contrary to the media spin, loans are available. If you have good credit and enough cash to put 3.5% down and pay approximately another 2% in closing costs, this market is a bonanza for you! If the house is right for you and meets your need list and perhaps your want list, don't let the "fear" that prices might drop further, inhibit your decision to buy. Think, prices might stabilize and rise and "fear" would have prevented you from owning a home.

Adding Edible Plants to Your Garden

February 25, 2009
There are some truly beautiful garden plans that incorporate vegetables and fruit into residential landscaping. In our Inland Empire heritage, citrus trees have long been a favorite with homeowners. In the spring the citrus blossoms have an unbeatable fragrance and the fruit adds bright color to the garden. Citrus also is a fairly easy maintenance with deep irrigation monthly. (They do not like to be on a daily watering system.)
Tomato plants are not the most attractive as they can get scraggly, but mixed in with marigolds and other flowering plants in a garden bed, they add color and when ripe, a homegrown tomato is an entirely different flavor from those sold in the market. (I have yet to be a successful tomato grower, but the memory of the flavor filled tomato keeps me trying.)
Chives are another attractive plant with great purple-lavender blossoms that can enhance a garden border. Basil, parsley, rosemary and other herbs have long been standard in garden borders. Lettuces and carrots with their frilly tops add interesting texture among the flowering plants.
Now is the time to prepare the soil and visit the garden center. Using old newspapers to mulch around the newly plants will keep the soil warm and as the newspapers disintegrate they will add nutrients to the soil. (A great way to recycle those newspapers.) Just posting this information has me ready to redo my garden beds!

If You Are Wanting to Go Native

February 24, 2009

Along with the "green", the "sustainability" trends, there is increasing interest in "native" gardens. These gardens use plants and design elements that once grew wild without any human care. With talk of water rationing, a native garden can also be very drought tolerant - because once upon a time the plants depended on rainfall or underground springs for their water needs.

A native garden also will attract native birds and butterflies, according to one source, hummingbirds will thrive in a native garden and be more attracted to it than they are to your hummingbird feeder.

If you have an interest in seeing native actual specimens, the Rancho Santa Ana Botanic Garden in Claremont says it is the largest garden dedicated to California native plants, a place where visitors can stroll and see flora blooming from February through April. The park recently opened a "Grow Native Nursery" which offers more than 1,500 plants. It is staffed by horticulturists who can assist you in determining the plants best suited for your garden. The store is open from 9 1.m. to 4 p.m. Wednesdays through Sundays at 1500 N. College Avenue in Claremont. (909)625-8767 or online at http://www.rsabg.org/

Making Your House Better

February 23, 2009

It is fun at open houses to listen to visitors speculating on the changes they would make to a property. Even before a prospect actually purchases a property, they have planned new paint, new appliances, new carpet and a variety of other alterations that would make the property "theirs". Then after one moves in, sometimes inertia or finances slow down the projects. I know that when we purchased a home that truly needed to be recarpeted, it took us 5 years to accomplish this renovation. In one house, we actually resold it before the carpet was replaced and put in an extra bath just a few months before we sold it. Wouldn't it have been nice to have enjoyed it for the 9 years that we lived in that house. In some ways the issue really was a question of wants versus needs.

Obviously one's budget will be a determining factor of what improvements will ultimately be completed. Paint is the single most cost effective improvement that a homeowner can do - especially if one does the painting oneself. Actually, since labor is a large portion of any project, if one is at all handy, doing the work oneself can more than half your costs.

So many folks fell into the trap of taking out loans to make major improvements. If you are thinking of going this route, check out some of the charts that show approximate value that a home improvement project might add to a home. It is still true that a home can be "over improved" and push what dollars the owner has put into the property past the value of other properties in the area.

To use a popular phraseology, "at the end of the day" whatever you choose to do should be within your financial means.

January 2009 - Foreclosure Filings in the Inland Empire

February 20, 2009

Because foreclosures are the focus of seemingly everyone, I am sharing the numbers of filings beginning with the month of January 2009. NOD stands for Notice of Default and is the first document that is filed by the trustee of a deed of trust for the beneficiary(lender) when a borrower has fallen behind in the mortgage payments. Once it is recorded, the borrower has 90 days to bring the loan current. After the 90 days have elapsed, the trustee can then record a Notice of Trustee Sale (NOT). This must be published in the newspaper 3 times during a 21 day period.

The Notice of Trustee Sale will contain the date that the property will be sold in a public auction.The borrower can still bring the loan current or pay it off in its entirety. After the 21 days, the trustee can sell the property for the amount owed. The lender has the first bid for the amount owed and if no one else bids, the property then goes back to the lender, the foreclosure is complete and the property becomes an REO (Real Estate Owned).

Here are the filings:

Banning.................NOD/52............NOT/49............REO/33

Beaumont.............NOD/99............NOT/55............REO/45

Bloomington.........NOD/56............NOT/44............REO/21

Calimesa,,,,,,,,,,,,,,,,NOD/7..............NOT/7..............REO/5

Colton....................NOD/95............NOT/67............REO/48

Fontana.................NOD/515..........NOT/358.........REO/243

Grand Terrace.....NOD/20............NOT/11............REO/4

Highland................NOD/106.........NOT/51............REO/40

Loma Linda...........NOD/29...........NOT/13............REO/2

Mentone................NOD/16...........NOT/14.............REO/12

Moreno Valley......NOD/529.........NOT/367..........REO/243

Redlands...............NOD/69............NOT/36............REO/29

Rialto.....................NOD/247..........NOT/48............REO/94

Riverside..............NOD/677...........NOT/408.........REO/234

San Bernardino....NOD/477...........NOT/312.........REO/241

Yucaipa.................NOD/64.............NOT/41...........REO/23



I will be watching to see if the moratorium that the government has asked for will impact the future numbers.

Can the Government Stem the Flood of Foreclosures?

February 19, 2009
The new plan announced yesterday is aimed at the underwater homeowners. Thus far, the previous programs have been deemed to be relatively ineffective. Will more money and more incentives reduce the problem?
I am collecting the data to track the foreclosures in the 14 communities that I have been following for their real estate activity. Tomorrow, I hope to post the numbers for Notice of Default filings, Notice of Trustee Sale filings and the properties that are now owned by lenders. Just as I have tracked the monthly data for listings and sales, I plan to list the number of filings each month. Perhaps the data will indicate that foreclosures are being reduced - maybe through the government's efforts and maybe because they are sold prior to foreclosure procedures being begun.
Tune in tomorrow.

A Gift From Your Government

February 18, 2009

"I'm from the government and I'm here to help." This has been a standing joke for as long as I can remember. Folks have felt that the government's help has always come with a catch - fees, more regulations or just increased red tape. Perhaps this is the reason that there has been little rejoicing about the just enacted stimulus bill and the soon to be announced foreclosure assistance plan.

However, as nearly as I have been able to comprehend it, the first time home buyer tax credit is a real gift from the government. An $8,000 tax credit on your 2009 tax return can be an incentive to purchase a home in 2009. If the low prices of homes are not enough incentive, the $8,000 could be a true stimulus for a reviving real estate market.

Here are some excerpts from a great article published by U.S. News and World Report Magazine on their web site: http://www.usnews.com/.

"This credit is equivalent to 10 percent of the purchase price of the home - although it is capped at $8,000- and applies only to first time home buyers and principal residences."

"Only those who purchase a home on or after January 1 and before December 31, 2009 are eligible for the credit."

"Single buyers need a modified adjusted gross income of $75,000 or less to qualify for the full credit, that's $150,000 for married couples."

And the main restriction is: " Buyers have to own the home for at least three years in order to capitalize on the credit. If they sell the home before then, they will have to return the credit to the government."

Unlike the $7,500 credit of 2008, this credit does not have to be repaid except in the instance cited above.

Today's market is a great opportunity for buyers of any sort, but for first time home buyers, the government has given a real gift.

Pricing a Home in Today's Market

February 17, 2009

I would like to quote from an article that I saved from the Broker Agent News web site. It was written by Jim Remley of Pro Performer Seminars and it was a right-on analysis of "The Secret to Pricing Your Home to Sell".

" Contrary to popular belief, when selling your home its value is determined by one thing and one thing only - what a qualified buyer is willing to pay for it. No more and no less. Sure, many sellers will argue that their home has an insurance replacement value, or an appraised value, or a tax assessed value, but unless your insurance agent, your banker, or your tax assessor is willing to write you a check for the home - guess what? None of that matters. A home without a buyer has no value in the market place. Sure it might have a value to you the seller, and it might have a value to your banker, and to your insurance agent, and to your appraiser. But none of these people are buyers."

So what are the factors that influence the selling price in today's real estate market?

1. What similar properties have sold for within the last ninety days.

2. What are the prices of similar properties buyers are finding on the Internet. Today's buyers are becoming so knowledgeable about the market that they can guess with reasonable accuracy when a property is priced well.

3. How up-to-date your property is. Does it have granite counters? Have the windows been replaced? Does it have a master suite with a large bathroom and a sitting area? These are some of the amenities that today's buyers want. Since they now have to have a sizable down payment, they will not have money left over to make improvements. Hence "dated" homes will be discounted in the current market place.

Overpricing and planning to wait for a change in the real estate market are poor strategies for a seller that wants to or must sell. If you owe more than a market analysis suggests is the current market value. you may need to make some hard decisions, but putting your property on the market at a price which is unsupported by market data will not solve your problem.

If you need to sell in today's market, find a professional real estate agent and trust the opinion of value that there analysis projects.

Presidents' Day - 2009

February 16, 2009


Over the past several weeks, there has been much media coverage of the fact that February 12, 2009 was the 200th anniversary of the birth of Abraham Lincoln. Our current President, Barrack Obama, is an admirer of Lincoln and, according to reports, has studied both the character and the actions of Lincoln' presidency. It will be interesting to see how his admiration of Lincoln translates into President Obama's character and actions as he leads this country out of its current economic downturn.


If, and it is a big if, the current recession is being blamed on housing and foreclosures and financial woes stemming from bad loans, then the president and congress and all the experts advisers appointed to solve this "crisis", we need to figure out how to stabilize the housing markets.


From the trenches of professional real estate agents, there are many potential purchasers. Financial institutions do have loans available. (They are being cautious about the qualifications of borrowers, but most folks agree that that is a good thing.) The provisions in the current stimulus package that may prove more helpful than the drafters of the bill thought could be the raising of the conforming loan limits from $417,000 to $729,000 in some areas and allowing investors to have loans on up to ten houses rather than limiting them to only four properties.


The latter could be extremely beneficial as investors can purchase distressed properties, fix them up and resale them at a higher price, thus increasing value in the market place. The former could break the log jam in the sale of properties over $400,000, a stagnant part of the current real estate market.


So, as this Presidents' Day holiday begins the fourth week of the Obama administration, which supposedly is going to focus on housing, we hope that the president and his advisers will recognize that it may take unpopular decisions to turn the housing market around.


Leadership and character are about unpopular decisions. Both George Washington and Abraham Lincoln made many unpopular decisions. Fortunately for us and for them, the decisions were for the most part correct ones.

Don't Forget To Celebrate

February 13, 2009

Today is the dreaded Friday the 13th, but the omen of better days ahead was in the sky! As I drove to work this morning, there was a huge rainbow shining through the stormy skies. There is something very special about the atmospheric phenomenon that creates the arc of color in the sky!

Arriving at the office, CENTURY 21 Lois Lauer Realty, I was greeted by our annual tribute to Valentine's Day. What a wonderful set of experiences to give one enthusiasm for living and working in the Inland Empire.

The Stimulus Will Begin

February 12, 2009

Is it possible that the President will be signing the 2009 stimulus plan on Abraham Lincoln's Birthday? The conference committee has supposedly worked out the differences between the House and Senate plans and that both houses will be voting today. Perhaps they have already as there is the 3 hour time differential between Washington and California. I feel certain that President Obama will sign the bill as soon as it reaches his desk.

Based on newspaper reports, here are some of the provisions:

About two thirds spending initiatives and a little over one third tax cuts.

There will be contributions to the states.

There should be aid to Medicaid and to education.

$40 billion to provide extended unemployment benefits through December 31, 2009

$20 billion to increase food stamp benefits

$14 billion to give a one time $250 payment to Social Security recipients, poor people on Supplemental Security Income, and veterans receiving disability and pensions.

$46 billion for transportation projects.

$21 billion to provide a 60% subsidy of health care insurance premiums for the unemployed under the COBRA program.

$87 billion to help states with Medicaid.

$19 billion to modernize health information technology systems.

$10 billion for health research and construction of National Institute of Health facilities.

And the list goes on.

$2.8 billion for Homeland Security.

$4 billion for state and local law enforcement officers.

$54 billion in state fiscal relief to prevent cuts in state aid to schools.

About $70 billion to spare about 24 million taxpayers from being hit with the alternative minimum tax.

$13 billion to provide a $2500 tax credit for college tuition and related expenses in 2009 to 2010.

$3.7 billion to change the requirement that the $8000 first time home buyer tax credit be paid back.

$2.5 billion to make sales tax paid on new car purchases deductible.

I have not totaled this up and I am positive there are many more allocations in the bill since the total cost is quoted at $790 billion.

We shall watch with interest how all of this stimulus effects the housing market.

Some Energy Cost Savings

February 11, 2009


With budgets tightening, it could be helpful to use some of these suggestions for "going green" or just reducing your utility costs.


If you don't already have one, a programmable thermostat allows you to have greater control over your energy bills. You can program the gadget to lower the temperature on a nightly basis in these cold wintry nights or raise the temperature on summer nights when our climate cools in the evenings. The Department of Energy's EnergyStar program has a calculator on its web site that allows you to calculate how much these advanced thermostats can save you.


A really cost benefit strategy is to keep your heating and cooling filters clean. Changing them at least 3 times a year is probably sufficient to increase the efficiency of your system and thereby reduce the operating costs. Such an easy fix, that can be overlooked.


Along the lines of preset control, installing motion sensor lights outdoors can be a useful electric bill saver, Instead of turning the porch light on, these sensor lights only work when someone approaches. If you are forgetful and leave the light on overnight, this device will definitely provide a cost benefit.


For years, low flow fixtures have been promoted as a water saver as well as a cost saver. There are low flow shower heads, faucet aerators and toilets. It may amaze you how much you can reduce your water consumption for an almost immediate cost savings. Faucet aerators cost approximately $2 and will definitely create a savings.


More and more promotion is being given to compact fluorescent light bulbs. Experts say that replacing light bulbs with CFLs can be the cheapest and most effective way to get significant savings on energy bills.


Check out your blinds, shades and curtains. They can insulate against bot winter cold and summer heat. If you are redecorate, look into some of the new products.


You might want to have an energy audit, which can be done at no charge from a utility provider such as the electric or gas company. If you have air leaking out of or onto your house, filling the gaps around windows and doors can conserve energy.


Some of these strategies can almost be done at no cost. Others may cost initially, but over time will prove beneficial.

What Should My Offer Be?

February 10, 2009

"What should I offer?" is a question frequently asked by buyers who have found a home that they would like to purchase. It puts the real estate professional on the spot. If you read yesterday's blog that cited the sales data for January 2009, you have some idea of what is occurring price-wise in the various Inland Empire Markets. However, even with all that information, there is no formula for what an appropriate purchase offer for a particular property should be. The first response to the question of what to offer is generally "It depends".

So what are the factors that will influence the decision of what price to offer for a particular property?

First: How much do you want this property? If you have decided to make an offer, there should be something bout it that excites you on some level. i.e. picturing your self living there. (Of course, a really competitive listing price may be one influence, but I have found that buyers ultimately decide on a property because it satisfies one or more of their dreams about a home.)

Second: What other similar houses in that area have recently sold and what were the selling prices of those homes? Were they updated (new windows, new appliances, new paint, etc.)

Just as a real estate agent will do a market analysis for a potential seller to determine a listing price, so, too, should a buyer's agent give the buyer a market analysis.

Third: Perhaps this should be the first consideration: How much can you afford or how will the payments for this property fit into your budget?

Fourth: How actively has this property been shown? Are there other buyers interested in it? Your agent can check with the listing agent to see if there have been any previous offers. In this market with lower prices for homes and low interest rates, there is a large pool of buyers searching for a home. Strange as it may seem, this is a real estate market that has as many multiple offers on properties as did the heated market of 2004-2005. Thus, knowing the activity on a particular property can be useful in determining the answer to the question "What should I offer?"

Since many properties presently on the market are either Bank-owned or short sales, the seller's needs often play a role in determining what will be an acceptable offer. You as a buyer, need to also determine what will fit into your time frame, your budget and ultimately your life style.

Inland Empire Median Prices (as posted in the IMRMLS)

February 9, 2009\

Median prices are arbitrarily decided as the selling price of the property that is at the halfway mark of all properties reported sold. Half of those that sold in January sold for more than the median and half sold for less.

Banning Beaumont...........$178,000

On average the 97 listed sales sold in 77 days for 2.38% less than the asking price.

Bloomington......................$139,000

On average these 29 listings sold in 89 days at .090% less than the asking price.

Colton.................................$144,000

On average these 48 properties sold in 72 days at .070% less than the asking price.

Fontana..............................$$201,500

On average these 297 properties sold in 76 days at 2.39% less than the asking price.

Grand Terrace..................$209,000

On average these 6 properties sold in 122 days at .72% less than the asking price.

Highland.............................$170,500

On average these 52 properties sold in 86 days at 3.55% less than the asking price.

Loma Linda........................$308,000

On average these 15 properties sold in 73 days at 8.14% less than the asking price.

Mentone..............................$115,000

On average these 5 properties sold in 87 days at 6.93% less than the asking price.

Moreno Valley....................$150,500

On average these 349 properties sold in 64 days at 1.46% MORE than the asking price.

Redlands.............................$215,000

On average these 51 properties sold in 81 days at 2.97% less than the asking price.

Rialto...................................$160,000

On average these 130 properties sold in 68 days at .62% MORE than the asking price.

Riverside.............................$195,000

On average these 373 properties sold in 71 days at 1.21% less than the asking price.

San Bernardino..................$99,000

On average these 279 properties sold in 70 days at 2.38% less than the asking price.

Yucaipa/Calimesa.............$225,000

On average these 42 properties sold in 62 days at 3.92% less than the asking price.

Snowshoes at Big Bear Lake

February 6, 2009


This Saturday, February 7, 2009 the Village of Big Bear, California will be host to the only snowshoe event in Southern California. With the storms today, there should be a great covering of snow. Kahtoola Snowshoes the Bear will sponsor event's from 9 a.m. until 2:30 p.m.


Registration for competitors will be from 7 a.m. to 9 a.m. at Equada Outfitters, 663 Pine Knot Avenue in Big Bear Village.


The mountain trails will offer competitors all levels of challenge.


The event is free to spectators; $25 for the 5 kilometer race; $45 for the 10 kilometer race. The cost includes prizes and T-shirts for all participants. Athletes (spectators could also) are asked to bring any amount of food- fresh or canned- to help the Big Bear food bank.


There will also be a Discovery Center, Snowshoe Demo Tours, dog sledding demos, live music, a rock climbing wall, sports and fitness exhibits and food vendors.


For more information you can call 909-224-9315 or on the Internet http://www.snowshoebear.com/


We are so fortunate to live in the Inland Empire where we have these great opportunities close at hand!

Closed Sales Reported for January 2009 - IMRMLS

February 5, 2009

Are residential real estate prices attractive and affordable to potential purchasers? Are lenders making loans? The following data suggests that "yes" is the answer to both questions.

As reported through the IMRMLS, these are the number of closed transactions for 2003-2009 in the 14 communities that I track.

Banning/Beaumont.....2009/97......2008/48......2007/54......2006/59......2005/68......2004/73

.......................................2003/61

Bloomington.................2009/28......2008/6........2007/6........2006/12......2005/12.......2004/14

.......................................2003/24

Colton............................2009/46......2008/14......2007/26......2006/32......2005/33......2004/30

.......................................2003/52

Fontana........................2009/293.....2008/59.....2007/120....2006/154....2005/186....2004/178

......................................2003/197

Grand Terrace........................2009/6.........2008/3........2007/7........2006/8.........2005/6........2004/11

......................................2003/9

Highland......................2009/51.......2008/16......2007/35......2006/42......2005/53......2004/54

......................................2003/61

Loma Linda............................2009/15......2008/3........2007/12.......2006/8........2005/18......2004/7

......................................2003/10

Mentone......................2009/5........2008/4........2007/7.........2006/7........2005/6........2004/5

......................................2003/1

Moreno Valley..........................2009/350...2008/119....2007/95......2006/198....2005/214.....2004/203

.....................................2003/198

Redlands....................2009/50......2008/31......2007/40.....2006/41.......2005/63.......2004/56

....................................2003/71

Rialto..........................2009/127....2008/31......2007/43.....2006/64.......2005/98.......2004/90

....................................2003/105

Riverside...................2009/371....2008/145....2007/182...2006/238.....2005/316.....2004/308

....................................2003/305

San Bernardino........2009/278....2008/74.....2007/120....2006/189.....2005/151.....2004/202

...................................2003/193

Yucaipa/Calimesa...2009/41......2008/32.....2007/36.......2006/47......2005/32.......2004/56

...................................2003/52

Fair Market Value

February 4, 2009

"Fair Market Value" is considered a legal term and in law and economics is based on "market value". The general definition is:

It is the most probable price at which a good or service will exchange, expressed in terms of cash or equivalent, in a free market assuming:

A knowledgeable and willing seller unencumbered by undue pressure to sell and acting in his/her own best interest;

A knowledgeable and willing buyer unencumbered by undue pressure to buy acting in his/her own best interest;

A reasonable time for exposure in a free and open market.

In the present real estate market, when a seller decides to sell, a real estate agent will prepare a "market analysis". The agent uses past sales of comparable properties and gives an opinion of the market value of the property. (The operative word is "opinion".) Determining market value is not a science, it is based on an educated opinion.

When a buyer and seller have negotiated a selling price, and when the buyer will be obtaining a loan in order to complete the transaction, the lender sends an appraiser to do an appraisal. The appraisal is also based on comparable sales and is also not a science but an opinion.

In the present real estate sales environment where in half of the transactions, the seller is a bank, the question arises as to whether these are free an open market transactions. However, these sales become the comparables used by agents and appraisers to determine market value.

What has made transactions fall apart can be the determination by the appraiser that the purchase price was greater than the present market value. Since it is a declining market, the appraiser makes a time adjustment and sales that are more than a month old, may have 2%-3% a month deducted from a previous selling price.

I raise the question: How can the market stabilize, if the negotiated price is then reduced by the appraisal?

At some point, buyers may start to pay over the appraisal and the comparable selling prices will adjust to a new price point.

"How Long Should it Last?"

February 3, 2009

"How Long Should it Last?" was the title of an article in the February 2009 Realtor Magazine.

Replacing some components of a home can be costly and for a prospective buyer of a resale home, it could be interesting to know what the projected lifetime of these components might be. Obviously the maintenance of the home may positively or negatively influence the longevity of the appliances and building materials.

Here is the information provided in this article:

100 years or more: Brick siding, all wooden floors, cellulose insulation material

50-100 years: Slate, copper, clay and concrete roofs(50+), copper gutters (50+) kitchen cabinets (up to 50), modified acrylic kitchen sinks (50), Vinyl floors (50)

30-50 years: Thermostats (35), wooden windows (30) wood shake roofs (30) french interior doors (30-50)

10-20 years: Built-in audio system (20), aluminum windows (15-20), asphalt shingle roofs (20),

faucets, kitchen sinks (15), gas ranges (15), cultured marble counter tops (20), dryers and refrigerators (13), air conditioning units (10-15), lighting controls (10+), interior and exterior paints (15+), electric or gas water heaters (10) furnaces(15-20)

5-10 years: security systems (5-10), heat and smoke detectors (5-10), dishwashers (9), microwave ovens (9), carpet (8-10).

Many of these items are replaced because of redecorating desires. Others are seldom replaced until they totally fail. The projected time lines came from the National Association of Home Builders and is their estimate presented for homeowners to use in deciding whether to replace an appliance or other component in the home.

Let's Look at January 200- Listings and Pendings

February 2, 2009

Today is officially Ground Hog Day and the Punxsutawny Phil saw his shadow so 6 more weeks of winter are predicted. For the Inland Empire, if these next 6 weeks resemble the past, we should be cheering!

Here are the active listing and the pending sales for January 2009 as reported through the IMRMLS.

Banning/Beaumont......Listings/763......Pendings/210......Percentage pendings to listings/27.5%

Bloomington..................Listingss/154.....Pendings/63........Percentage pendings to listings/40.9%

Colton.............................Listings/285......Pendings/110......Percentage pendings to listings/38.6%

Fontana..........................Listings/1461....Pendings/616......Percentage pendings to listings/42.2%

Grand Terrace..............Listings/46........Pendings/9..........Percentage pendings to listings/19.6%

Highland........................Listings/312......Pendings/93........Percentage pendings to listings/29.8%

Loma Linda...................Listings/87........Pendings/16........Percentage pendings to listings/18.4%

Mentone........................Listings/60........Pendings/7..........Percentage pendings to listings/11.7%

Moreno Valley..............Lisitngs/1609...Pendings/803......Percentage pendings to listings/49.9%

Redlands.......................Listings/354......Pendings/67........Percentage pendings to listings/18.9%

Rialto.............................Listings/692......Pendings/285......Percentage pendings to listings/41.2%

Riverside......................Listings/2238....Pendings/820......Percentage pendings to listings/36.6%

San Bernardino...........Listings/1731.....Pendings/498......Percentage pendings to listings/28.8%

Yucaipa/Calimesa......Listings/332.......Pendings/91........Percentage pendings sto listings/27.4%



The market has definitely picked up on the volume side!