Wednesday, September 30, 2009

September 30, 2009

Since the entire idea of loan modifications is pretty much a phenomenon of this particular housing market decline, there may be a reason why obtaining a loan modification seems to be very difficult. The government with its "Hope Now" program and its "Making Home Affordable" program has attempted to encourage lenders to work with distressed homeowners. Seemingly, neither program has been successful at reducing the number of delinquent loans or the number of foreclosures.

Anecdotal evidence suggests that loan modification requirements are still not in line with the actual amount of modification that would be required to keep a homeowner in a financially stable condition. For example: if the value of the home has decreased by 32% (a recent statistic for some areas in Southern California), and if the original loan to value was 100% in 2006, a $400,000 loan would have to be reduced to $272,000 and it would still be a 100% loan to value loan. Then there is the requirement that the borrower show "hardship" as the reason why the present payments cannot be made. Then, if the loan actually was an 80% loan to value, the borrower may be deemed to have sufficient equity and again fail to qualify for any modification.

Loan modifications, at best, are very complex adjustments. Are they to be temporary until value returns? Are they to be permanent for the entire life of a loan?

In many ways a lender who continues on the path to foreclosure and sells the property at the reduced value and clears the books once and for all may understand this process far better than the loan modification process. What still remains a mystery is why lenders have been so slow to work with homeowners on the "short sale" process that could accomplish a clearing of the books and possibly reduce the costs of the foreclosure process. If this process became more efficient, the number of foreclosures might easily be reduced. At the moment, buyers are reluctant to submit offers on short sale listings because of the lengthy wait until they get either approval or disapproval for their offer.

Tuesday, September 29, 2009

Loan Modifications - Are They Slowing Down Foreclosures?

September 29, 2009


If there is a mystery about what has happened to all the foreclosures that were to be coming on the market, perhaps loan modifications have worked to reduce the number of actual properties completing the foreclosure process.


Purportedly a loan modification is a change in one or more of the terms of a mortgagor's loan which allows the loan to be reinstated, and results in a payment the mortgagor can afford.


The crucial words are "loan to be reinstated" and "mortgagor can afford".


One of the truly harsh criterion for eligibility for a loan modification has been the need for the borrower to be at least one month behind in the payments and usually at least three months before the lender will accept the application for a loan modification. Many borrowers who have struggled to keep up their payments have found themselves ineligible. Recently there has been talk of lenders being permitted to modify loans even if the borrowers are current in their payments. This might be a step in the right direction of helping both homeowners and lenders. The loan could continue to be producing income to the lender and the borrower would be more likely to be able to avoid foreclosure once the modification was completed.


The media has been publishing data suggesting that the percentage of modifications is a drop in the bucket compared to the number of homes under threat of foreclosure. The government continues to change the rules to encourage lenders to be more proactive, but thus far, lenders continue to have reservations.


It is interesting to note that lenders do not seem eager to foreclose, but they don't seem eager to adjust their loans to turn a non producing asset into a producing asset. If they are willing to reduce the amount of the loan at a foreclosure auction, why not discuss a modification, or for that matter, a short sale, as quickly as it becomes known that a homeowner is in trouble? All the delays just keep the foreclosures increasing when there seem to be procedures that could be beneficial to the recession's recovery?

Thus far the data that is publicized indicate that modifications have not slowed the pace of foreclosures.

Monday, September 28, 2009

"Waiting For Godot" or The Missing Foreclosure Glut

September 28, 2009

For the better part of this year and ongoing, economists and the news media has written articles about the coming glut of foreclosed properties that will further depress prices and prolong the recovery of the housing market. At least monthly, if not weekly, there is a report of the number of homeowners that are behind in their mortgage payments and the number of properties that are in some stage of foreclosure.

To date the flood of bank-owned properties has not occurred. In fact, many real estate agents who dealt almost exclusively in bank-owned properties have found their inventories sharply curtailed. The questions are: "Where are all these foreclosed properties and why have they not been put on the market?"

Perhaps the lenders are truly working with homeowners to modify loans and to adjust loan balances and loan payments to levels that are affordable for the property owner. I do know that many properties under threat of foreclosure have been put on the market and have sold as short sales. (Many more might if lenders did not take so long to process a short sale offer.) The bank-owned properties that have been put on the market have generally sold very quickly and their rapid turnover has not inflated the inventory. I have heard of some properties that are bank-owned, but the property owner has continued to remain in the property and the bank has not moved forward with offering the property for sale.
Another interesting anecdote came from friends who attended a foreclosure sale on the court house steps. It was attended by some 20-25 persons, many sophisticated investors. Several of the properties being offered that day actually sold on the court house steps thereby removing them from the bank's inventory. (Banks have become a bit more aggressive in reducing the amount of the first bid as an enticement for bidders. )

Are we going to be like the imaginary friends of "Godot" and wait for a no-show as far as the foreclosure glut? I am certainly intrigued with doing some research as to where the missing foreclosures have been hiding.

Friday, September 25, 2009

Mariachi Festival and the Monthly Moon Party

September 25, 2009

On Saturday, September 26, Fairmount Park in the City of Riverside, 2601 Fairmount Blvd. will be celebrating Hispanic culture and the rhythmical mariachi music. From 12 p.m. until 9 p.m. attendees can enjoy music, folklorico dance, food and other cultural activities. There will be nationally known Mariachis performing throughout the afternoon and evening.

Also, this Saturday, the Amateur Astronomers will be setting up their telescopes at the San Bernardino County Museum. The monthly opportunity to view the skies with the assistance of these dedicated amateur astronomers is becoming a popular event. Families can come and learn about the moon's surface as well as the various planets and constellations in the skies above us. Hopefully the clarity of the night sky this week will allow for a spectacular viewing.

These are just two of the opportunities for entertainment that are available in the Inland Empire.

Thursday, September 24, 2009

Here is a Loan Modification Opportunity

September 24, 2009

Opening today at the Los Angeles Convention Center is a free five-day event organized by Boston-based Neighborhood Assistance Corporation of America. According to the press release, counselors at 360 computer stations will scan homeowners' documents and send electronic files to nearly 2000 on-site servicers and lenders. The event is open to all, not just Los Angeles residents. KNX radio this morning interviewed a person waiting in line prior to the opening. This person had come from the state of Illinois. Obviously, patience on the part of attendees will be a huge requirement as the organizers expect at least 50,000 homeowners to attend this 5 day event. It will continue from this morning through Monday.

If you wish to take advantage of this opportunity to start a loan modification process, you will need to gather up your mortgage documents (Hopefully, you kept those copies when you signed up for the loan.).

The press release in the Los Angeles Times newspaper indicated that participants could register for appointments at http://www.naca.com/ or toll free at 888-499-6222.

Wednesday, September 23, 2009

The Challenge of Moving

September 23, 2009

One of the most challenging aspects of a move from one residence to another is sorting through your accumulation of "stuff". I feel confident that there are folks who do the annual Spring and Fall cleanings and do not accumulate "stuff", but their are others who have a difficult time parting with family mementos and the old records of bank statements, utility bills, tax returns. etcetera, etcetera.

With the files or boxes of papers, here is a guide to keeping or tossing.

Any paperwork for your car, keep as long as you own the car. (I don't mean the monthly gas purchases. Keep those records that you may need for your yearly tax returns if the car is used for business.)

Save bank statements for 7 years, but shred ATM and deposit slips after you verify them against your bank statement.

Utility bills can be kept for 6 months.

Credit card statements are good to keep for a year, but your receipts can be shredded once you cross reference them with your statement.

Paycheck stubs can go after you have compared them to your W-2 form.

Any home ownership paperwork needs to be kept as long as you own the home.Once an insurance policy has been reissued, shred it. Shred claims after a year, but if you get an insurance payment, keep those records for 7 years.

Keep all birth, death, marriage, adoption, military and other vital records forever.

Keep tax returns indefinitely, but supporting documentation may be shredded after 7 years.

Trust information, wills, durable powers of attorney, and any other legal documents keep forever.

If you are retired and have retirement and pension documents, keep them forever.

This is the paperwork that you will want to neatly file to take with you wherever you may go.

As for the children's report cards or sports trophies or great grandmother's china, offer them to those who would most want to continue treasuring them. Have a memory sharing party and if no one really wants to continue keeping them, give to a cause or a thrift shop or sell on e bay or hold a yard sale.

The idea is to de-clutter your life and to recognize that simplifying can be a satisfying experience.

Tuesday, September 22, 2009

The Fall Season is Officially Here

September 22, 2009


According to the Farmers' Almanac, today is the Autumnal Equinox. This is the day that the daylight hours equal the nighttime hours. It seems to me that this calendar event has not garnered much attention of late. In ancient times it was a big deal, but nowadays with global warming, health care, housing issues, etc. we seem to take the passing of the seasons for granted.


In Southern California, the fall season can be one of our most beautiful. I know that New England believes they have a corner on beauty with the colors of the trees, but we have are own special beauty here in the Inland Empire. The days are often crystal clear, the mountains rise majestically and the sunsets give a purple glow to these mountains. Our daytime temperatures may still be a bit hot and dry, but when the sun sets, our evening temperatures are cool and refreshing. How wonderful is that?



Invite your east coast friends for a Fall visit. They will be impressed with our weather and the beauty of our region. They will know why California real estate is a valuable commodity even in these housing market recessions.

Monday, September 21, 2009

If only.....

September 21, 2009

Most of us , at one time or another, have thought or said "if only I had" or "if only we had", or "if only someone had". I felt certain that this was a correct assumption after I put "if only" into a google search and found that there were 73,300,000 references. Many of these were song lyrics and even a movie.

I can remember real estate agents after the recovery in the real estate market after the downturn in home values of the 1990s saying regretfully "if only I had invested in real estate back then." Perhaps in 2016 they will be singing the same tune.
Let's hope that folks who really would like to own their own home are not joining in the "if only" refrain!

If only I had bought when I could have had the $8,000 tax credit.

If only I had bought when prices were as low as they had been in 7 or 8 years.

If only I had bought when interest rates were between 5% and 6%.

If only I had been willing to pay more than the list price if necessary.

If only I had been will to accept a less than perfect house.

And so on and so on.

Not just because real estate is my profession, but because owning my own home is truly satisfying (no one can tell me what color to paint my rooms.), I believe that we are truly experiencing a window of opportunity for home buying and perhaps even for home selling. If you have to take a reduced price to sell, you can also buy a new home at a reduced price.

Why not eliminate one "if only" from your life?

Friday, September 18, 2009

Get Your Kicks This Weekend in the Inland Empire

September 18, 2009

This weekend offers a variety of ways to "get your kicks" in the Inland Empire. Two of the events are celebrating 20 years of entertainment and one is in its 10 year.

Starting at 5 p.m. this evening the 20th annual Stater Brothers Route 66 Rendezvous rolls into downtown San Bernardino. 1900 pre-1974 cars will help celebrate Route 66 and America's fascination with the automobile. For all the activities occurring at the Rendezvous check the official web site http://www.route-66.org/

At Noble Creek Park in Beaumont the 20th annual Oktoberfest kicks off at 5 p.m. today. The Oktoberfest is presented by the Beaumont-Cherry Valley Recreation and Park district. It features plenty of sausage, sauerkraut and potato salad. Lots of oom-pah-pah music and all kinds of contests including a pretzel-whistling contest (whatever that is). For more info you can reach Erin Waldner at 951-763-3473 or ewaldner@PE.com

For slightly cooler temperatures, you can drive up to Big Bear Lake and check out the 10th annual International Film Festival today though Sunday. This year's films will include the premiere screening of "Frozen Kiss," a feature-length film shot in Big Bear with nearly 40 local residents as extras. Cost is $5 for individual films; $25 for a daily weekend movie pass and $85 of the Opening Gala this evening + an all events pass. You can call (909)866-3433 or on the Internet http://www.bigbearlakefilmfestival.com/

All of these events continue from today through Sunday, September 20.

Thursday, September 17, 2009

Is The High End of Our Market Improving?

September 17, 2009

Since May of this year I have been tracking the number of sales reported through the MRMLS over the $400,000 price point. It does seem that the numbers are quite close to the number of transactions in that price point in 2003. It is encouraging to see buyers and lenders coming back into the real estate market in ways other than chasing the bank-owned properties. There are some wonderful values in the upper end of the marketplace and hopefully those who are looking to upgrade their housing will recognize the opportunities.

Here are the numbers for over $400,000 transactions for the month of August.

Banning/Beaumont.......2009/0.......2008/1........2007/6........2006/10.........2005/9..........2004/3

..........................................2003/1........2002/1

Bloomington...................2009/0........2008/0.......2007/2.........2006/8..........2005/4...........2004/1

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

Colton..............................2009/0........2008/1........2007/6.........2006/10........2005/4...........2004/1

..........................................2003/2........2002/0

Fontana...........................2009/6........2008/12......2007/41.......2006/139......2005/136.......2004/43

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

Grand Terrace................2009/0........2008/0.......2007/3.........2006/1...........2005/5...........2004/0

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

Highland.........................2009/3........2008/2.......2007/4.........2006/22........2005/30.........2004/12

..........................................2003/1........2002/1

Loma Linda....................2009/0........2008/2.......2007/5.........2006/9..........2005/9...........2004/5

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

Mentone.........................2009/0........2008/0.......2007/1.........2006/0..........2005/0...........2004/1

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

Moreno Valley...............2009/0........2008/1.......2007/17.......2006/99........2005/75.........2004/9

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

Redlands........................2009/13.......2008/11.....2007/25......2006/39........2005/31.........2004/24

.........................................2003/11.......2002/6

Rialto..............................2009/0........2008/0......2007/4.........2006/29.......2005/24.........2004/5

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

Riverside........................2009/41......2008/47.....2007/70......2006/229.....2005/238......2004/101

.........................................2003/36.....2002/22

San Bernardino.............2009/0.......2008/1........2007/10......2006/31.......2005/19..........2004/5

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

Yucaipa/Calimesa.........2009/4.......2008/5.......2007/14.......2006/37......2005/33..........2004/18

.........................................2003/3.......2002/4

Wednesday, September 16, 2009

"A Magical Point in Time"

September 16, 2009

The headlines this morning in the business section of the Los Angeles Times newspaper were big and bold: "Southland home prices move north". It is a good thing that we understand colloquialisms. The opposite of "going north" is "going south". When speaking of value, "going south" has meant for some years that the value was falling. While I have never before heard the expression "going north", I did understand that it meant that values were rising.

I read the article with great interest since I track median prices in our market area. IN the closing paragraphs of the article, the reporters quoted a home buyer who had purchased a second home in Palm Desert last month. The buyer purchased the home now for future use. The plan is to rent it now and at some point in a few years, move to Palm Desert. For me, this buyer's quote was a perfect description of the real estate prices of today: "My feeling was that this was a magical point in time."

Think about it. Thousands of first time home buyers have been able to purchase homes at prices no one thought we would ever see again and receive an $8,000 bonus from the government. Investors have also come into the market on the realization that real estate is a cyclical investment and single family homes are being sold at bargain prices with the possibility of a positive cash flow.

If "magic" is defined as a mysterious quality of enchantment, the lure of a bargain in housing prices may certainly be magical after the disastrous market of the past several years.

Tuesday, September 15, 2009

Multiple Offers - The Name of the Game

September 15, 2009

It is hard to believe that in a housing market with so much negative press that multiple offers on many listings is the norm rather than the exception. If you ask any serious buyer who is wanting to purchase a home before the first time homeowner $8,000 tax credit expires, they will tell you that the market is extraordinarily competitive for the lower priced properties. I heard of a property in Moreno Valley that allegedly had 75 offers submitted! I don't know whether the story is true or not, but I do know that it is not uncommon for there to be more than one offer for a well priced property.

So - what is a serious buyer to do?

1) Get pre approved for the loan so that your pre approval can be submitted to the listing agent when you submit the offer. It is important that the pre approval be at the same price as the offer you are submitting. This means that you and your real estate agent must stay in contact with your loan representative.

2) Your agent should contact the listing agent to get to know that agent. Knowing the listing agent may be helpful in structuring an offer.

3) It is probably wise for buyers who finds a property that suits them to discuss with their real estate agent what would be their highest and best offer. In this market, it is not a wise move to come in low in the hopes of getting a counter offer. Better to submit a clean offer.

4) With the help of your real estate agent, compose a cover letter that introduces you to the listing agent and to the seller. Some agents believe that if the seller is an institution, they don't care. The person who assesses your offer is a person and a good cover letter can some times influence the acceptance of an offer.

5) Make sure your agent keeps in touch with the listing agent. Sometimes agents submit offers and when they have not received a response they presume that their offer was rejected - not necessarily so.

If you want to succeed in purchasing a home, being persistent and realistic about your offer goes a long way toward success.

Monday, September 14, 2009

Median Prices - August 2009-2002

September 14, 2009


Here are median prices for the month of August as reported through the IMRMLS.


Banning/Beaumont......2009/170,000......2008/200,000......2007/293,000......2006/310,000


.........................................2005/305,000......2004/220,000......2003/169,500.......2002/123,000


Bloomington..................2009/138,000......2008/173,000.......2007/324,900......2006/390,000


.........................................2005/337,500.......2004/270,000......2003/204,000......2002/148,777


Colton.............................2009/115,000.......2008/152,250.......2007/315,000......2006/355,000


.........................................2005/320,000......2004/235,000......2003/169,900.......2002/125,000


Fontana..........................2009/185,000......2008/258,000......2007/404,000.......2006/415,000


........................................2005/385,000......2004/308,000......2003/255,000.......2002/173,900


Grand Terrace..............2009/190,000.......2008/240,000......2007/345,000.......2006/379,215


........................................2005/359,000......2004/305,000.......2003/219,900.......2002/174,900


Highlamd......................2009/150,000......2008/200,000.......2007/332,000.......2006/380,000


........................................2005/340,000.....2004/285,000........2003/191,000.......2002/162,000


Loma Linda..................2009/234,444......2008/241,000........2007/373,000.......2006/365,000


.......................................2005/432,000......2004/340,000.......2003/215,000.......2002/163,000


Mentone.......................2009/104,000......2008/190,000.......2007/339,900.......2006/355,000


.......................................2005/278,000......2004/272,500.......2003/85-168,000 2002/132-184,500


Moreno Valley.............2009/140,000......2008/178,500.......2007/345,000.......2006/385,000


.......................................2005/360,000......2004/285,000......2003/190,000.......2002/160,000


Redlands......................2009/213,500.......2008/269,000......2007/390,000.......2006/415,000


......................................2005/365,000.......2004/335,000......2003/234,500.......2002/180,790


Rialto...........................2009/137,000.......2008/200,000......2007/334,000.......2006/375,000


......................................2005/360,000......2004/290,000......2003/195,000........2002/163,500


Riverside.....................2009/175,000.......2008/240,000......2007/385,000.......2006/425,000


......................................2005/400,000......2004/332,000......2003/230,000.......2002/189,000


San Bernardino..........2009/84,000........2008/128,000......2007/270,000........2006/325,000


.....................................2005/285,000.......2004/205,000......2003/146,000........2002/110,000


Yucaipa/Calimesa.....2009/225,000.......2008/250,000......2007/350,000.......2006/399,000


.....................................2005/376,000.......2004/308,000......2003/195,500........2002/166,500


If you refer back to the median prices for July (posted 8/11/09) or the mid year median prices (posted 7/13/09) I believe that the data is indicating a stabilization in real estate prices. Not everywhere, but in some of these 14 communities.

Friday, September 11, 2009

Cars, Chili and Trains

September 11, 2009

Every weekend families can find interesting outings in the Inland Empire. Last Friday I mentioned the Coral Farmers' Market in Ontario. I went down and checked it out and it was a great learning experience. This weekend, there are some less exotic happenings, but certainly great for car and train fans.

Saturday from 10 a.m. to 4 p.m. the Kiwanis Club of Highland is sponsoring it's first Car Show and Chili cook-off. It will be held at the Highland Community Park. Admission is free, but unlimited chili tasting is $5 per person. More information (909)553-9169 or (909) 889-4575

For the train fans, the Orange Empire Railway Museum will be hosting its annual Railroadiana Swap Meet from 9 a.m. until noon on Saturday. This swap meet is the largest of its kind in Southern California. Admission is $5 or $12 for an all day pass that includes trolley and train rides. More information at (951)943-3020 04 http://www.oerm.org/

I cannot end this blog of September 11 without a reminder that today has been declared a National Day of Service. Fly your American flag and find a way to be helpful to your family or your friends or for any community organization. As someone who was at 25th and 5th Avenue in lower Manhattan and saw the first plane that hit the World Trade Center, this day will always hold unforgettable memories.

Thursday, September 10, 2009

The "Perfect" Offer to Purchase

September 10, 2009

In our present real estate market, finding a property in which you really and truly would like live and making an acceptable offer to purchase it has become a challenging endeavour.

Finding the property nowadays requires both a prospective buyer and a real estate agent to be on constant alert for new listings. The prospective buyer needs to be very clear to the real estate agent when describing needs and wants in a home. The real estate agent needs to probe the buyers' descriptions in order to know the buyers' goals.

Once a property has been selected, the challenge of writing an "acceptable" or "perfect" offer begins. At the beginning of the declining market, buyers wanted to know how much less than the list price they could offer. Obviously, the answer was "it depends". The answer is still "it depends" because of the following factors.

1. First and foremost, it seems to me, is how badly you would like to purchase the property.

2. What have been the selling prices of comparable properties? Your real estate agent can furnish you with this information which will also be valuable in learning what a lender might consider as appropriate market value for a basis in making a loan.

3. What is the most you would consider paying or the most for which you can qualify? In the arena of multiple offers due to low inventories and aggressive listing prices of bank-owned properties, knowing your limits is critical in determining your "perfect" offer.

4. Contingencies play an important role in any offer to purchase. Usually their is a loan contingency, an appraisal contingency and an inspection contingency. Obviously being "pre-approved for your required financing will make your offer more competitive. (Pre-approved is having completed the loan application process including credit checks and income checks with the lender just needing the location and appraisal of the property.)

If you know the above, with the assistance of your real estate agent, you can write an offer that will be "perfect" for you. If the seller receives multiple offers and one is more "perfect" for the seller and your offer is not accepted, you will know that you gave it your best shot.

Remember "perfect" is a relative term.

Wednesday, September 09, 2009

Closed Transactions August 2009-2002

September 9, 2009


Here are the numbers for closed transactions in the 14 Inland Empire communities that I have been tracking. If you want to compare these numbers to the numbers of January 2009, you can refer to my post of February 5, 2009. At that time in the 14 communities there was a total of 1758 closed sales. In August 2009 there is a total of 2099 reported closed sales. We are definitely experiencing a more active market which is limited now by the low inventory available for sale.

Banning/Beaumont.......2009/138......2008/111......2007/63.......2006/94........2005/111

..........................................2004/93........2003/92.......2002/72

Bloomington..................2009/36........2008/23.......2007/4..........2006/18.........2005/35

.........................................2004/24........2003/17........2002/29

Colton.............................2009/60........2008/45.......2007/25........2006/56.........2005/48

.........................................2004/48........2003/46.......2002/42

Fontana..........................2009/332......2008/290.....2007/79........2006/254.......2005/301

.........................................2004/230......2003/216.....2002/253

Grand Terrace...............2009/6...........2008/12.......2007/11.........2006/10.........2005/13

.........................................2004/11.........2003/10.......2002/17

Highland........................2009/58........2008/54.......2007/30........2006/60........2005/61

........................................2004/66.........2003/57.......2002/80

Loma Linda...................2009/18.........2008/14.......2007/10........2006/21........2005/15

........................................2004/14.........2003/11........2002/16

Mentone.......................2009/7............2008/6.........2007/5..........2006/8.........2005/5

.......................................2004/7............2003/13........2002/2

Moreno Valley.............2009/367.......2008/392......2007/88.......2006/259.....2005/311

.......................................2004/307.......2003/253......2002/277

Redlands......................2009/66..........2008/51........2007/52.......2006/70........2005/84

......................................2004/81...........2003/91........2002/80

Rialto............................2009/151.........2008/117......2007/30.......2006/101......2005/121

.......................................2004/117.........2003/92.......2002/126

Riverside......................2009/475........2008/464.....2007/168......2006/388.....2005/507

......................................2004/380........2003/444.....2002/426

San Bernardino..........2009/336........2008/213......2007/93.......2006/212.......2005/259

......................................2004/246........2003/219......2002/285

Yucaipa/Calimesa......2009/49..........2008/56........2007/43......2006/76..........2005/74

......................................2004/84..........2003/62........2002/69

In terms of volume of transactions we are recovering, or we have recovered.

Tuesday, September 08, 2009

Standby Generators

September 8, 2009

Sometimes it takes an inconvenience to focus one's attention. Quite frankly, I had never thought of a standby generator as something of interest to me. However, we have spent the past morning dealing with a power outage that shut down our computers, our office phones, our lights and anything else that requires electricity in order to operate. So now I am interested in standby generators.

I remembered seeing an advertisement in a local newspaper for either Lowe's or Home Depot that had pictures of standby generators. I truly did not pay much attention to the ad. I supposed it was published because of the wildfires and the suggestion that homeowners might want to add a home standby generator as part of their being prepared. When I spoke to one of our agents she had saved a small advertisement for a Black and Decker device that included a generator and a power source to recharge your cell phone or other electronic devices that would need recharging.

I googled "standby generators" and found some good information. So I will pursue the standby generator topic further as clearly being without electrical power for a long period of time could be more than just an inconvenience, it could be a real problem for a business and perhaps for a homeowner.

Monday, September 07, 2009

What a Week for Remembering !

September 7, 2009

Today we celebrate Labor Day. Established by Congress on June 28, 1894 as a legal holiday to "exhibit to the public the strength and esprit de corps of the trade and labor organizations".

The purpose of the act was to recognize the value and dignity of work and its role in the American way of life.
This week, on Friday, September 11, Americans are being asked to honor the memory of the 9/11/2001 disaster by participating in a National Day of Service and Remembrance. The idea is that we will use the day to volunteer our time and energy for the good of our communities. Wouldn't it be great if we all found ways to help our communities and the charitable organizations that provide services? If you want to participate, local newspapers weekly provide lists of volunteer opportunities. there are also Internet web sites that list opportunities. I checked and found over 215 opportunities in the Riverside, San Bernardino area. The variety of needs was pretty amazing.

Labor Day, over the 115 years since it was officially established has become more a celebration of the end of summer than a celebration of the work ethic. Over those 115 years the nature of work has changed, but the role of paid working Americans is an important cornerstone in our society. So too, has the role of volunteers become a true characteristic of American Society. You have this week to decide how you will contribute your time and energy to the National Day of Service and Remembrance.

http://www.volunteermatch.org/ is a web site that allows you to search for opportunities in your community. I put in Redlands, CA and the site offered 215 matches in the Riverside and San Bernardino area. Celebrate and Remember.

Friday, September 04, 2009

If You Are Wanting A Family Outing In the Inland Empire....

September 4, 2009

Since this Sunday is the first Sunday of the month, the San Bernardino County will be continuing its policy of free admission. Also from 3-4:30 p.m. in the new outdoor courtyard, a San Bernardino Symphony Trio will be performing. These musical concerts are becoming very popular and are an added attraction to the museum's exhibits. Many of the exhibits are undergoing renovation and new artifacts are being added to the collections. The San Bernardino County Museum's normal hours are 9 a.m. to 5 p.m. Tuesday through Sunday. An added opportunity this weekend is a Monday opening for the Labor Day holiday. For more information contact 909-307-2669 or on the Internet http://www.sbcountymuseum.org/

Another event taking place on Sunday September 6 from 10:30 a.m. to 4 p.m at the Hilton Ontario Airport Hotel is the 2009 Inland Empire Coral Farmers Market. This will be the first annual Fall event for this organization. Because of the great vendor support, the event will be free to the public. If you have already purchased a ticket go to the "Ticket" page on the organizations web site http://www.ie.cfm.com/ or contact be e mail at sales@ie.cfm.com

If you have an aquarium or if coral reefs intrigue you, this might be a fun opportunity to become more educated about these exotic sea animals right here in the Inland Empire.

Thursday, September 03, 2009

Where's the Glut?

September 3, 2009

The media and many economists are still citing the "glut" of unsold houses as a reason for the continued instability on the housing market's recovery. There is also continued talk of the vast numbers of foreclosures that have yet to "hit the market".

Ask any potential buyer and you might have a different perspective. Not much to look at and if you find a property you like, there are often multiple buyers bidding for it.

These are the number of active listings as of September 1, 2009 versus September 1, 2oo8.

Banning/ Beaumont...........2009/501..........2008/792

Bloomington........................2009/60............2008/200

Colton...................................2009/124...........2008/349

Fontana................................2009/465...........2008/1707

Grand Terrace.....................2009/22.............2008/55

Highland..............................2009/170...........2008/339

Loma Linda.........................2009/60.............2008/91

Mentone..............................2009/22.............2008/54

Moreno Valley....................2009/531...........2008/1893

Redlands.............................2009/224...........2008/382

Rialto...................................2009/246...........2008/755

Riverside.............................2009/1056.........2008/2465

San Bernardino..................2009/787...........2008/1961

Yucaipa/Calimesa.............2009/218...........2008/423

Where's the glut?????

Wednesday, September 02, 2009

Being Prepared

September 2, 2009

The past week has certainly been a wake-up call for all of the residents of the state of California. Our hot, dry summer culminated in a wild fires breaking out from the north to the south. This year, the fires were not so much driven by winds as by the dry vegetation that covered our hillsides. The amazing thing about these fires is how capable our firefighters are at saving lives and property.

What are some preparations that residents can make? First, if you live near undeveloped land, clear the brush away from your property. Make your own fire break. Plant fire resistant plants and shrubs. Walk your property to check out the vulnerable areas.

Another important preparation, and probably just good sense, is to keep documents that would be difficult to replace in a safe location. Don't have those precious photos scattered about. Either sort them into albums or box them and store them in a readily accessible area of your home. Inventory your possession and prioritize them so that you will be prepared to gather up the ones that have the most meaning and take them with you in the event that a disaster occurs.

Review your homeowners' insurance coverage and be certain that it is adequate and that it contains a rebuild provision.

It is easy to put off this kind of preparation with the "It can't happen to me" attitude. But just getting your affairs in order is a worthwhile goal.

Tuesday, September 01, 2009

As September 2009 Begins - Listings/Pendings

September 1, 2009

The real estate market as reflected in the data published through the IMRMLS continues to be very active. Listing numbers have declined substantially and the number of properties with sales pending has increased. In fact, real estate agents and buyers are now frustrated that the inventory is so limited that there are multiple buyers for any property that is perceived as priced right for its location and amenities.

Here are the numbers.

Banning/Beaumont...........Listings/501..........Pendings/273..........Ratio/.545

Bloomington.......................Listings/60............Pendings/92............Ratio/1.533

Colton..................................Listings/124...........Pendings/88...........Ratio/.71

Fontana...............................Listings/465...........Pendings/708.........Ratio/1.523

Grand Terrace....................Listings/22.............Pendings/25............Ratio/1.136

Highland.............................Listings/170...........Pendings/109..........Ratio/.641

Loma Linda........................Listings/60.............Pendings/28............Ratio/.467

Mentone.............................Listings/22.............Pendings/14.............Ratio/.636

Moreno Valley...................Listings/531...........Pendings/764...........Ratio/1.439

Redlands............................Listings/224...........Pendings/102...........Ratio/.455

Rialto..................................Listings/246...........Pendings/294..........Ratio/1.195

Riverside............................Listings/1056.........Pendings/912...........Ratio/.864

San Bernardino.................Listings/787...........Pendings/550..........Ratio/.699

Yucaipa/Calimesa............Listings/218............Pendings/100..........Ratio/.459

These numbers do not take into consideration the properties that are reported in the "Back-up" category. The "Back-up" category is for properties that have an accepted offer but have a contingency that could cause the transaction to be cancelled.
If you are interested in where we were September 1, 2008, you can check my post of September 2, 2008. At that time the ratios ranged from .18 to .47. We have come along way in the past 12 months.