Two Parades?

January 29, 2010



The parade in honor of Martin Luther King which was to have taken place on January 18 has been rescheduled to this Sunday, January 31 at 3 p.m. in Redlands. t will begin on Citrus Avenue across from Redlands High School and end at the Redlands Bowl with a Jubilee program. If you might like to participate in the parade, you may register at 2:15 p.m. Sunday. For information call 909-534-8029.



Also on both Saturday and Sunday, CENTURY 21 Lois Lauer Realty is sponsoring an "Open House Extravaganza" We anticipate that we will have approximately 40 properties open for the public to visit. It will be a great opportunity to meet our agents and to see some great properties.



The homes will be open from 1-4 p.m. or from 1-5 p.m. The weather is predicted to be sunny.BY Friday afternoon, you can check the list of open houses on our web site (www.loislauer.com) and pick and choose your itinerary. We love for visitors to create a parade to our open houses.

Tracking the $400,000+ Sales

January 28, 2010

I hope that the chart above is large enough to read. Even if you cannot, the three large spikes represent the number of closed residential transactions in Fontana, Moreno Valley and Riverside in the years 2005, 2006. If you could see it clearly, you would note the huge change upward between 2004 and 2005 and the equally huge change downward between 2006 and 2007.

In all three markets, the over $400,000 sales have not yet returned to the level of 2002. To me that is an encouraging sign and I shall eagerly watch to see improvements in this segment of our real estate sales market.

This chart reflects the number of transactions and not the prices of properties per se. With the financial melt down of 2008, the ability to obtain loans was definitely a factor in the reduction of high end sales. The stricter rules for buyer qualification has also had the effect of eliminating many potential buyers. To return to a more "normal" real estate sales market, we will need the jobs market to improve, and current homeowners to develop a bit of equity and prices to cease their downward trend.

Buying Your First Home

January 27, 2010

A half century ago, buying a home was a very different process than buying a home in the past ten years. First off, most buyers had to put at least 30% down. FHA and VA programs were the exceptions, but a conventional home buyer needed to have saved enough for that 30% down payment. Admittedly, 30% of a $15,000 purchase price was only $5,000. However, in the late 1950s, school teachers average salaries were in the $3,000 to $4,000 range.

The rules in the real estate market place were in the category of "buyer beware" and there were no disclosures necessarily required of the seller. No final walk-thru or requirements for repairs.

The purchase agreement was probably one 8" x 11" sheet of paper and your loan qualification was primarily based on your W-2; a half-century ago, young home buyers had no IRAs or other stock portfolios. FICO scores had not been invented.

Jumping ahead to today, we see a surge in FHA buyers who need only a 3.5% down payment. We see FICO scores playing a major role in loan qualification. Seller's disclosures can fill almost 20 pages of California Association of Realtor's forms. Buyers request sellers to make repairs and a final walk-thru to be sure work requested has been completed is almost always done. Buying a home can be a tedious process, but "hooray", at last a buyer is now a homeowner!

Being a homeowner can sometimes be a surprise. No parent or landlord to call to fix broken sprinklers. You, the homeowner, are now responsible for the maintenance of your property.

There is a new book published recently by authors Ilona Bray and Alayna Schroeder which is entitle "The Essential Guide for First-Time Homeowners." The authors start with moving in and with how to organize all those papers for your purchase, for your insurance and for your taxes. Since we are in a "green age" they also offer tips on making your new property more environmentally efficient. The authors seem to cover everything from budgets to disaster preparation.

A worthwhile read for both first-time buyers as well as any potential homeowner.

The Mountains Turn White

January 26, 2010

This past weekend, after the deluge of rain, sleet, slush and snow, our mountains were spectacularly beautiful. The San Gabriels to the West, the San Bernardinos to the North, the San Gorgonios to the East and the San Jacintos to the South. We were completely surrounded with white mountains !. Our air was clear and crisp. The sun was shining brightly and we breathed a sigh of relief that Southern California had weathered a massive storm front without major flooding or mud slide damage.

The week of rain will certainly help alleviate our drought conditions. There was some discussion of an "El Nino" winter bringing even more wet days. In the meantime we shall enjoy the natural beauty that surrounds our Inland Empire.

At Last - The IRS Rules for the $6500 TAx Credit

January 25, 2010

The federal government, when the $8000 first time home buyer tax credit was extended to April 30 2010, added a $6500 tax credit for "long time residents of the same main home" .

Here are documents that need to be attached to your 2009 or 2010 tax returns.

1. A copy of the HUD-1 statement sheet, including contract sales price and date of closing.

2. Evidence of long-term ownership and occupancy of the previous home to meet the five consecutive years' test. (this can be property tax records, homeowner's insurance records or IRS form 1098interest statements for the five year period.

3. For buyers claiming a credit on a newly constructed home, where a HUD-1 settlement sheet is not available, the IRS will accept a copy of a certificate of occupancy showing the buyers' names, the property address and the date.

4. For buyers of mobile homes who are not able to get settlement statements, the IRS will accept a copy of the executed retail sales contract showing the property's address, purchase price and date of purchase.

The new IRS guidance also spells out the revised income limits for home buyers claiming credits. Your modified adjusted gross income must be $125,000 or less if you are single or $225,000 or less if you are married filing jointly. Above these limits some credit may be available in a phase down of the amount until a single income is $145,000 or #245,000 for married filing jointly.

Another stipulation in the IRS rules is that if you sell the home for which you received a tax credit within 36 months after the date of purchase, you may have to repay the government. This repayment is also due if you convert your principal residence to a rental or if the lender forecloses.

With the rules now spelled out, potential tax credit seekers should speed up their search for a replacement home. In 14 more weeks these credits will disappear.

"Singin' in the Rain"

January 22, 2010



If you are a typical resident of Southern California, you might want to say "enough already" after a week of rain. You also might feel a tad guilty for wishing the rain would go away and stay away. I hear folks complaining about the storm in one breath and in the next breath say, "Oh, but we really need the rain."

Beginning on Friday, January 22 at the Landis Performing Arts Center, 4800 Magnolia Avenue in Riverside, you can be treated to the musical "Singin' in the Rain". Don't you remember what fun it was with Gene Kelly as the star of the movie back in the. 20 years ago, the musical was produced on Broadway, but had limited success. It has all been revamped and is a fun production which celebrates the movie industry of the 1940s and the transition from silent films to talkies. It will make you joyous about the present weather. (Well, maybe not, but it will warm your heart.)

Tickets are $25-$43. For more information you can call 951-22-8100 or on the Internet, http://www.performanceriverside.org/

In San Bernardino on Sunday afternoon at 3 p.m., the San Bernardino Symphony will present its annual family concert at the California Theatre of the Performing Arts, 542 W. Fourth Street. Musical Fantasies will include a musical tribute to Michael Jackson as well as CArlos Chavez's Toccata for 6 Percussions and Vaughn-William's Fantasia on a Theme by Thomas Tallis. Cost is $10 for students with ID and $20-$55 general admission. For more information you can call 909-381-5388 or on the Internet http://www.sanbernardinosymphony.org/

Some Data from the NAR 2009 Profile of Home Buyers and Sellers

January 21, 2010

NAR has released the 2009 Profile of Home Buyers and Sellers. The report compiles the results of 9,138 surveys returned by buyers and sellers who sold or purchased a home between July 2008 and June 2009. The complete report is available for purchase from http://www.realtor.org/

Much of the data corresponds with what the agents at CENTURY 21 Lois Lauer Realty reported in a straw survey that I conducted.

47% of all buyers were first time buyers.

62% of first time buyers reported that the primary reason for buying a home was the desire to be a homeowner. 35% of all buyers listed homeownership as the number one reason.

The median age of first time buyers was 39 - unchanged from last year.

62% of all buyers are under the age of 44.

63% of all buyers said that they had no children under the age of 18 living at home.

90% of all buyers used the Internet to search.

84% of all buyers reported the photos to be the most useful information.

The number one action taken after viewing a home online was a drive by or visit to the home 85% of sellers sold their home with an agent.

77% of buyers purchased their home with an agent.

39% of the mortgages were FHA.

87% of buyers view real estate as a good investment.

There is much good information is the NAR report that points agents to the direction

that the consumer is seeking for real estate information and guidance.

For those of us who practice the marketing of homeownership, we are delighted that homeownership is still a desire of the majority of Americans.

Government Keeps Tweaking the FHA Rules

January 20, 2010

Since the first of this year the federal government has announced some changes to the rules for the purchasing of a home. One change is expected to create additional real estate sales, the other is expected to reduce the number of persons qualifying for FHA loans. The government seems to both encourage and discourage home ownership.

For some time now, HUD had a provision that was intended to deter "flipping" of properties by investors who purchased distressed properties, made some repairs and put them back on the market for a profit. These rules stated that for ninety days after an investor's purchase, a potential buyer could not use FHA financing to purchase that property. Only conventional loans could be used and then only with a 20% down payment. This regulation prohibited many first time homebuyers from purchasing some nicely rehabbed properties. Starting February 1, 2010, this 90 day rule has been suspended for one year. The requirement to have cash to purchase many of these distressed properties at foreclosure auctions, eliminated the first time homebuyer from buying at auction and the 90 day rule meant that these properties remained unavailable to these buyers. It will be interesting to see how the suspension of the rule affects the market.

FHA also announced changes to the mortgage requirements. The upfront mortgage insurance premiums are being raised from 1.75% of the loan amount to 2.25%. Home buyers who want to make the minimum down payment of 3.5% on an FHA insured loan now need a minimum FICO score of 580, raised from the current 500. New borrowers with FICO scores under 580 would have to put down 10%. Interestingly, most lenders already require buyers to have a FICO score of 620 or higher. Another change in FHA rules affects the amount of allowable seller concessions to 3% of the purchase price from the current 6%. These changes are expected to be announced today.

In the past year and a half, FHA loans have been the loan of choice for many first time home buyers. They will still remain popular as other financing generally has much more stringent requirement's.

Rain is a Wonderful Test

January 17, 2010

For homeowners, this week of rain and the anticipation of more rain is a wonderful opportunity.

In our era of full disclosure when you offer your property for sale, knowing that your roof is water tight, that your drainage is adequate, that your gutters are doing the job for which they were designed is a great benefit.

This week's rain should allow you to discover any problems. One of the issues that crops up when a home is sold after an extensive dry spell is a leak in the roof. A seller may not know that there is a leak if we have not had substantial rain for many months or even years. The house is sold and a rain such as this week's occurs and a stain appears on the ceiling. Oops, big trouble. A buyer may feel that the seller knew the roof was leaking and wants the seller to pay for the repair. Not a good situation. So this week, check your ceilings and walls for signs of water intrusion. If you have access to your attic area, shine a flashlight and see if there may be spots appearing on the beams. All roofs can leak. The wind may blow shingles off, a tile may slip. Taking care of the problem ASAP will prevent other damage.

Drainage is another issue that can become a headache. Over time, the foundation plantings may allow soil to pile up higher than the sill of the foundation, thus permitting moisture to intrude. This week do you see puddles of water standing in areas of your yard. Is your yard squishy in spots? Diagnose the cause and make the necessary correction.

I have mentioned cleaning gutters as a good winter chore. Now you will find out whether they are being blocked by leaves and debris. With all the wind that we have had recently, the gutters may again have become filled with leaves.

Not only is having a rain good for alleviating a water shortage, it is a great help in maintaining the integrity of our property.

A Disaster of Epic Proportions

January 16, 2010

Since the news of the 7.0 earthquake in Haiti was broadcast last Tuesday, governments and non government organizations (NGOs) have been mobilizing to provide aid to the people who survived. Watching on the TV, it has been amazing that some order out of the chaos is beginning to occur. Americans are always quick to want to be helpful, but how is often the major stumbling block. It is interesting to note that two tried and true charities are the recommended, The American Red Cross and The Salvation Army. CENTURY 21 is one of the franchisees under the umbrella of the Realogy Corporation. The Realogy Charitable Foundation will distribute funds raised by employees, sales associates, vendors and the general public directly to the American Red Cross International Response Fund.

If you would like to contribute to the American Red Cross Fund you can do so by going to http://www.realogy.com/. If you select "Corporate" you should go directly to a press release that has a "click here" place to make a secure donation by credit card or electronic check.

As a CENTURY 21 office, CENTURY 21 Lois Lauer Realty is proud to be able to contribute to the effort to rebuild Haiti. It has long been a priority of our company to support local charities and to broaden our donations when situations of such grave need arise.

A Health Care Opportunity This Saturday

January 15, 2010

Hope Worldwide's "Day of Hope" program will be coming to the Inland Empire on Saturday, January 16. Golden Valley Middle School in San Bernardino will be hosting this free medical screening event from 9 a.m. to 3 p.m.

This "Day of Hope" features a vaccination clinic (not H1N1), a mobile health clinic, dental screenings, public assistance programs and children's activities.

Attendees may also be screened for weight, blood pressure, glucose levels and other measurables. There will also be information available on public assistance programs such as Medi-Cal and CalWORKS. For specific information on this event, call 909-714-3155.

This is not a health care event, but it may actually be a great for your emotional health. According to Art Garfunkel, alluding to his style, "In this nervous world I want to soothe. It's a great time for moderation, for thoughtfulness, for dialogue, for the great exhale, humor. A great time for a sweet sound, a visceral, charming, prayerful sound"

Art Garfunkel will be presenting a concert at 8 p.m. this Sunday, January 17 at the California Theatre of the Performing Arts, 562 W. Fourth Street in San Bernardino. Tickets are $20-$99. For more information you can call 909-885-5152 or on the Internet http://www.californiatheatre.net/ or http://www.ticketmaster.com/

Also, don't forget that this is a holiday weekend celebrating the birthday of Martin Luther King, Jr. Monday, at 1 p.m. there will be a parade in Redlands hosted by the Redlands Human Relations Commission and Holistic Healing for Youth. Many other Inland Empire communities will be sponsoring events during the weekend and on Monday. You could check the Sun Newspaper web site for contact information. http://www.sbsun.com/

Are You Prepared?

January 14, 2010

I have posted several blogs regarding earthquake preparedness and the huge quake in Haiti serves to remind us that earthquakes can occur at any time. We are fortunate that current building codes in California have strengthened are buildings and are transportation corridors, but the mantra from emergency agencies continues to be "Be prepared to survive on your own without public services for the first 72 hours after a major quake.

It is a new year and it would be timely to check your earthquake supplies. Do you have water?

Do you have imperishable food? Do you have a battery operated radio? How will you charge your cell phone? Have you made arrangements with family or friends out of the state for your family members to contact? (In listening to some interviews of Haitians living in the U.S., the inability to contact family members was a huge cause of concern.) Do you have your earthquake supplies stored in a place that will be accessible if your home is damaged?

It is easy to become casual about earthquakes. However, now is the time to pause and use this holiday weekend to review your preparedness. (if you google "earthquake preparedness" there are some great resources including a detailed checklist for securing your home.)

December Median Prices

January 13, 2010

It has been interesting to chart the median prices of closed transactions as they have been reported through the IMRMLS. A bell curve is a fairly accurate description of their rise and fall.

I thought that I would report the medians for 2002, where the IMRMLS data begins, 2006, the peak of our pricing, and 2009, where we are currently.

Banning/Beaumont..........2009/$175,000,,,,,,,,,.2006/$324,000.........2002/$130,000

Bloomington......................2009/$135,900..........2006/$385,000.........2002/$170,000

Colton.................................2009/$120,000.........2006/$323,000.........2002/$135,000

Fontana..............................2009/$213,000.........2006/$417,500..........2002/$180,000

Grand Terrace..................2009/$199-$206.......2006/$372,990..........2002/$185-$199

Highland............................2009/$180,000.........2006/$360,000..........2002/$172,000

Loma Linda.......................2009/$254,000.........2006/$370,000..........2002/$211,000

Mentone............................2009/*.........................2006/$346,000.........2002/$140,000

Moreno Valley..................2009/$150,000.........2006/$374,900..........2002/$166,900

Redlands...........................2009/$219,000..........2006/$375,000.........2002/$205,000

Rialto.................................2009/$145,000..........2006/$380,000.........2002/$163,000

Riverside..........................2009/$183,500...........2006/$420,000.........2002/$189,900

San Bernardino................2009/$86,000............2006/$314,900..........2002/$118,500

Yucaipa/Calimesa...........2009/$200,000..........2006/$420,000.........2002/$179,900

The * by 2009 Mentone is because there were three sales reported and the prices were wildly divergent - $50,000, $222,000, $359,950.

It will be interesting to track the median pricing in the year 2010.

Are We Back to a More Normal Real Estate Market?

January 12, 2010

Real estate markets are subject to many descriptions. There is the "bubble", the "bottomed out", the "boom", the "rising", and the "falling". Then, of course, real estate brokers and agents refer to a "normal" market.

What really is "normal"? In describing a person, "normal: is generally considered average growth and intelligence. When referring to other entities, "normal" can mean "standard", "typical" or "usual". So how does "normal" describe a real estate market?

First off, real estate markets are local. They are influenced by the desire of folks to live in certain locations and by the employment base. They are also influenced by the economic environment both locally, nationally and, of late, globally.

Secondly, as far as my research has determined, real estate markets are cyclical. If a "normal" real estate market is going to behave cyclically, then it may be that we have just completed one cycle and will begin another cycle. Obviously the cycle just completed seemingly had higher peaks and lower valleys. I have charted the cycles in Redlands since the early 1960s and the patterns of each decade have been similar and a "normal cycle seems to be 10-11 years.

Looking at the charts of the past 40 years, a normal cycle will begin with the "bottoming out" and then the so-called "normal" market in which buyers and sellers negotiate prices back to a "willing seller and a willing buyer, ready and able, who determine the market value of a particular property. As long as there are enough willing buyers, willing sellers, and lenders willing to make loans, the market tends to be stable. This environment is what real estate practitioners consider a "normal" real estate market.

Due to the foreclosure situation and the need to reduce the number of upside down home owners, it may be a while before a true "normal" market occurs. However, it does seem that sellers (even if they are lenders) and buyers are willing to negotiate and make a transaction. This is the real characteristic of a "normal" real estate market.

The Numbers for December Closings - 2002-2009

January 11, 2010

After the large number of closings reported in December 2008, the numbers reported for December 2009 have settled into a more typical range. The exceptions are still found in the larger communities of Riverside, San Bernardino, Moreno Valley. Interestingly, so also are the numbers for the Banning/Beaumont area.Their real estate closings were still higher than at any time before or after the "bubble".

Here are the numbers:

Banning/Beaumont......2009/136......2008/134.......2007/37........2006/62........2005/99

........................................2004/70........2003/66.........2002/56

Bloomington..................2009/32........2008/38.........2007/8..........2006/25........2005/27

........................................2004/30........2003/26.........2002/21

Colton.............................2009/54........2008/63.........2007/6..........2006/29........2005/51

........................................2004/54........2003/57.........2002/46

Fontana.........................2009/282......2008/388.......2007/75........2006/182......2005/241

........................................2004/243......2003/250......2002/238

Grand Terrace.............2009/9...........2008/6...........2007/3..........2006/7...........2005/16

.......................................2004/9...........2003/6...........2002/4

Highland.......................2009/48.........2008/62.........2007/21........2006/39.........2005/70

.......................................2004/59.........2003/61.........2002/61

Loma Linda..................2009/17.........2008/17..........2007/5..........2006/8...........2005/4

.......................................2003/14.........2003/13.........2002/16

Mentone.......................2009/3...........2008/3...........2007/2...........2006/1...........2005/12

.......................................2004/4..........2003/13..........2002/16

Moreno Valley.............2009/335......2008/505.......2007/102......2006/167.......2005/306

.......................................2004/286......2003/276.......2002/232

Redlands......................2009/63.........2008/56.........2007/32........2006/45.........2005/70

......................................2004/91.........2003/91..........2002/76

Rialto............................2009/110.......2008/141.......2007/42........2006/72.........2005/130

......................................2004/116........2003/117.......2002/119

Riverside.....................2009/473........2008/500......2007/153......2006/262......2005/470

......................................2004/376.......2003/365.......2002/364

San Bernardino...........2009/279.......2008/276.......2007/74........2006/152.......2005/271

......................................2004/246.......2003/276.......2002/224

Yucaipa/Calimesa......2009/58..........2008/54.........2007/24.......2006/50.........2005/59

......................................2004/67..........2003/58.........2002/70
You can check the posting of December 9 is you want to see the November closing numbers. With the exceptions of Highland, Mentone and Rialto, all communities closed more in December than in November.

There you have the numbers for the closings of single family residential properties as reported in the IMRMLS. Always the caveat: the data is only as accurate as the reportings.

Let's Look at Theater Opportunities for This Weekend

January 8, 2010

The Inland Empire may not be Hollywood, but there is a great variety of stage shows happening this weekend.

In Upland at the Grove Theatre, 276 E. Ninth Street all Elvis vans can enjoy a song and dance tribute to Elvis. Hosted by Tony Tarentino, parts of this show will also be filmed for a movie production entitled "Lonesome Tonight". The cost of tickets is $20-$25. For more information call 909-920-4343 or on the Internet, http://www.grovetheatre.com/

In Claremont at the Candlelight Pavilion, 455 Foothill Blvd. "Always Patsy Cline" will be presented this evening through February 7. If you are a country music fan, this is the show to see. Cost of tickets is $48 to$75. For more information call 909-626-3296, EXT 1 or on the Internet, http://www.candlelightpavilion.com/

In Redlands, The Lifehouse Theater, 1135 N. Church Street will present "Cinderella" tomorrow, Saturday, January 9 though February 14. Advance tickets are $14-$18 for adults, $7-$9 for children ages 3 to 11. (Children under 3 are not admitted.) At the door tickets are $1 more.

More Information at 909-335-3037, EXT 21 or http://www.lifehousetheater.com/

Finally, a great opportunity to attend a "family-friendly" adaptation of Humperdinck's classic opera, "Hansel and Gretel". It will be presented by the Riverside Lyric Opera on Saturday, January 9 at 3 p.m. in the Cesar Chavez Auditorium at Bobby Bonds Park, 2060 University Avenue in Riverside. Admission is free. Donations are welcomed. For more information call 951-781-9561 or on the Internet at http://www.riversidelyricopera.org/

All You Move-up Buyers

January 7, 2010

If you are thinking that this is the year that you would like to make a move and you have heard that the federal government is offering a $6500. Here are the rules as I understand them to take advantage of this tax credit.

1. You do not have to sell your current home which you must have owned and used as a principal residence for at least five consecutive years of the eight year period ending on the date of purchase of the new home as a primary residence.

2. You do not have to purchase a home that is more expensive than your current home, but the new home cannot cost more than $800,000.

3. For single taxpayers the income limit is $125,000 annually. For married folks filing jointly, your income cannot be more than $225,000

4. You cannot purchase the new home from family members, which includes parents, grandparents and children.

4. The purchase must take place by April 30, 2010. If you have entered into a binding contract before that date, you must close by June 30, 1010.

I believe that these are the basic rules. If they fit your situation, call your agent and find your next residence.

Home Maintenance for the New Year

January 6, 2010

As we begin a new year, here are some reminders about little routine maintenance whether you are a renter or a homeowner.

1. If your smoke detectors are battery operated, it is an excellent idea to routinely change the batteries as the new year begins. Even if they have not beeped that they are low, if you change them on a regular schedule, you will keep them operating properly.

2. Furnace filters - Perhaps you never think about your furnace filters as long as the furnace is operating. However, routine changing of the filters will cut your heating (and cooling) bills.

Change them now!

3. Sprinklers - As the weather is cooler, particularly at night, your lawn and garden need less water. If the sprinklers are on a timer, check out the timer and reset it for every other day or for less lengthy operation. Water saving has become a big issue in Southern California and the needless water of yards just wastes water and money.

4. Gutters - I mentioned cleaning gutters a few weeks ago, but as the rainy (?) season begins, having clean gutters will allow the gutters to do their job of directing water from the roof.

5. Video - As video cameras become readily available and shrunk in size and complexity, this is a great time to video the interior of your home. Videos will be a great resource for inventorying your possessions. (I found that they can also be an eye opener for items that need to be either updated or repaired or eliminated.)

You can probably think of other little tasks that will keep your property in good shape. Share them by clicking the comment button.

The Market Segment to Watch for Recovery

January 5, 2010

As the overall number of transactions increase, there is still a segment of the Inland Empire real estate market that seems to be lagging. Properties that are listed at a price over $400,000 still are slow to transact - better than the first half of 2009, but still not a significant portion of sold properties.

As we start 2010, here are the numbers for listed, pending and backup properties. In a week when the data for closed transactions are in, I will include them as well.

Banning/Beaumont......Listings/20......Pendings/1.......Back-up/1.....% of total listings/.046

Bloomington..................Listings/1.........Pendings/0......Back-up/0....% of total listings/.016

Colton.............................Listings/3.........Pendings/2......Back-up/2....% of total listings/.024

Fontana..........................Listings/14.......Pendings/8......Back-up/3....% of total listings/.030

Grand Terrace...............Listinsg/1.........Pendings/0......Back-up/0....% 0f total listings/.050

Highland........................Listings/11........Pendings/2......Back-up/1.....% of total listings/.073

Loma Linda...................Listings/10........Pendings/0.....Back-up/2.....% of total listings/.189

Mentone........................Listings/2..........Pendings/0.....Back-up/0.....% of total listings/.091

Moreno Valley..............Listings/6..........Pendings/1......Back-up/0.....% of total listings/.011

Redlands.......................Listings/82........Pendings/10....Back-up/10...% of total listings/.396

Rialto.............................Listings/4..........Pendings/2......Back-up/0.....% of total listings/.017

Riverside.......................Listings/168......Pendings/42....Back-up/13...% of total listings/.162

San Bernardino............Listings/11.........Pendings/2......Back-up/1......% of total listings/.017

Yucaipa/Calimesa........Listings/61........Pendings/9......Back-up/3.....% of total listings/.252

In most communities, the over $400,000 market is not a huge segment of properties being offered for purchase. However, in 2005 and 2006, this segment was a much greater percentage of the market. Will we return to those levels soon or will we wait another five to ten years?

Starting 2010 - Listing and Pending Statistics from IMRMLS

January 4, 2010

The second decade of the 21st century has begun. With any luck, the stabilizing that we experienced in the last quarter of 2009 will continue. I will continue to track the numbers for the listings, pendings, short sales and foreclosure in the expectation that trends will emerge.

So, here are the numbers for active listings and for those that have entered escrow. Due to the IMRMLS rules for reporting transactions, I will be tracking the "back-up" category. These are properties that have accepted offers, but usually have a significant contingency that could influence the completion of the sale. Many of these contingencies have to do with lender approval of the selling price of a "short sale".

Banning/Beaumont.........Listings/436......Pendings/221......Back-up/86......Ratio/.704

Bloomington.....................Listings/61.........Pendings/61........Back-up/15.......Ratio/1.246

Colton................................Listings/127........Pendings/94.......Back-up/23......Ratio/.929

Fontana.............................Listings/461........Pendings/543.....Back-up/200...Ratio/1.611

Grand Terrace..................Listings/20.........Pendings/11.........Back-up/5........Ratio/.800

Highland...........................Listings/150........Pendings/83.......Back-up/30......Ratio/.753

Loma Linda......................Listings/53..........Pendings/31........Back-up/15.......Ratio/.868

Mentone...........................Listings/22..........Pendings/12........Back-up/2.........Ratio/.636

Moreno Valley.................Listings/560.......Pendings/629.....Back-up/202.....Ratio/1.484

Redlands..........................Listings/207........Pendings/90.......Back-up/43.......Ratio/.643

Rialto................................Listings/239........Pendings/266.....Back-up/55.......Ratio/1.343

Riverside..........................Listings/1040......Pendings/769.....Back-up/247.....Ratio/.977

San Bernardino...............Listings/638........Pendings/472.....Back-up/104......Ratio/.903

Yucaipa/Calimesa...........Listings/242........Pendings/85.......Back-up/44........Ratio/.533

In several of the communities a quarter to one half of the active listings are short sales. The same seems to be true of the pendings/back-ups. Another quarter are bank owned. It will be interesting to watch this data for any changes in the proportions.