Harp 2 Refinance

November 30, 2011


A new revised Home Affordable Refinance Plan was announced by the government on October 24, 2011. Last week, Fannie Mae and Freddie Mac issued guidance that filled in some of the details.


Lenders can begin taking applications tomorrow, December 1, 2011, it will probably take several months before these programs function and new refinanced loans are made.
To qualify for the program, your existing loan must have been sold to Fannie or Freddie on or before May 31, 2009. The loan balance must be more than 80 percent of the home's current market value. The loan must be current the past six months, with no more than one late payment in the past twelve months. If you had previously refinanced through HARP, you are ineligible.


Unfortunately, in our present world of upside down homeowners, many borrowers were told by their lenders that until they missed a payment or two, they were not eligible for a loan modification. This is the story that we are told again and again by folks who were keeping up their payments but who applied for loan modifications.


Perhaps the new HARP 2 will help some, but no one can be certain that it will function efficiently enough to allow true loan modifications.

Time to See Your Tax Expert

November 19, 2011


There are a number of tax code items that are scheduled to expire at the end of 2011. Because of the need for congress to get serious about deficit reduction, some of the tax deductions may end on December 31, 2011.


I was reminded of this by reading an online article published by Inman News on November 22, 2011.


For homeowners who pay mortgage insurance, since 2007, you have been allowed to deduct the full amount of the premium you pay for mortgage insurance if you are a single taxpayer with an adjusted gross income of $100,000 or less. If your adjusted gross income exceeds $109,000 you are not eligible.


If you make your mortgage payment for January 2012 in December 2011, you should still be able to deduct that payment. Any payments after 2011 are not deductible.


The energy credit will no longer be available in 2012. If during 2011 you installed solar panels or some other types of fuel cells to generate electricity, you may be eligible for a $500 tax credit. Again these credits expire in December 31, 2011.


United States tax code is complex and a visit with a CPA who understands these various deductions and credits could save you some money.

Water Conservation and the Homeowner

November 28, 2011


The development of plumbing fixtures that use less water has been ongoing for some time. Some California areas such as San Diego have made the installation of low-flow toilets mandatory when you sell a home. To date, in our real estate market area, I do not think that there are any municipalities that make this requirement. However, effective January 1, 2012 homeowners will be required to disclose whether their property has water conserving fixtures. This new law also states that by January 1, 2017, a single family residence built on or before January 1, 1994 must generally be equipped with water conserving plumbing fixtures. Water conserving fixtures are low-flow toilets, shower heads and faucets.


Here's an idea for a holiday present: a special shower head or a new kitchen faucet. Check our your local home improvement stores and you can find some pretty classy new plumbing fixtures. Of course a side benefit of changing to water conserving fixtures will be a reduction in your water bill.

An Alternative to Black Friday

November 25, 2011


On Sunday, November 27, 2011, the Redlands Art Association will be sponsoring an art sale in downtown Redlands. Between 10 a.m. and 4 p.m. approximately forty artists will set up booths.


There will be paintings in different media. There will be ceramics. There will handcrafted wooden boxes. There will be jewelry. There will be hand painted silk scarves.
These unique one-of-a-kind works of art make wonderful holiday gifts. Just visiting an outdoor art sale is a treat all by itself. The weather is predicted to be perfect, warm and sunny.


While your out an about, plan your lunch at one of the special eateries in downtown Redlands.


You can kick off your holiday shopping with a totally pleasant experience.

A Thanksgving Poem

November 24, 2011


I believe that I quoted this poem by an unknown author in my Thanksgiving Day blog last year. However, it continues to remind us of all for which we can be thankful.


"Count your blessings instead of your crosses;


Count your gains instead of your losses;


Count your joys instead of your woes;


Count your friends instead of your foes;


Count your smiles instead of your tears;


Count your courage instead of your fears;


Count your full years instead of your lean;


Count your kind deeds instead of your mean;


Count your health instead of your wealth;


Count on God instead of yourself. "

Remembering Why We Have Thanksgiving Day

November 24, 2011




"The Pilgrims made seven times more graves than huts. No Americans have been more impoverished than these who, nevertheless, set aside a day of thanksgiving." - H.U. Westermayer.
I found this quotation on the Internet and it resonated with me. We are in a time of economic distress, but like the Pilgrims, we should pause tomorrow and give thanks for what we do enjoy - friends, family, the generosity of others.




At Century 21 Lois Lauer Realty we have a policy of giving. We give to Family Service, to Children's' Fund, to many local charitable projects. While the real estate market has changed in the past four years, we are still able to work and earn. Our founder, Lois Lauer, has served as an example and has led us in giving back to the communities that allow us to ply our real estate trade.




Each agent is thankful for their loyal clients and the celebration of Thanksgiving Day.

CENTURY 21 Lois Lauer Realty Shows Its Gratittude

November 22, 2011


For the past several years, the agents at CENTURY 21 Lois Lauer Realty have collected items to send to our military. Operation Gratitude is a non-profit organization created to send care packages fo food, necessities and entertainment to show support for our troops overseas. We have collection boxes at our offices in Redlands, 1998 Orange Tree Lane and Yucaipa, 33699 Yucaipa Blvd, Suite 1-B.


We provide new items such as I Pods, DVDs, Video Games, Energy Bars, Tooth brushes and tooth paste, Plush toys such as Beanie Babies, Individually packaged razors, Individual packages of moist toilette's, Baseball style caps, Screen Printed T shirts and anything we believe would be of use to our troops.


We have already filled three large boxes and are hopeful to double that by the time we deliver it to the Operation Gratitude folks the first week of December.


If you would like to contribute items, stop bu our offices and drop them in a specially labeled box.

California is a "Non-Judicial" Foreclosure State

November 21, 2011


There continue to be a number of articles in the news media about the impending glut of foreclosures. In these articles they talk of "judicial" and "non-judicial" foreclosures. These terms refer to the process used by lenders to repossess, i.e., foreclose on a property.


In many ways, we Californians are fortunate because typically in California, lenders secure their loans on real property with a deed of trust. In many states, particularly on the east coast, lenders secure their loans with a mortgage. We may all refer to the loans on our properties as mortgages, but here in California they are really deeds of trust.


Deeds of trust have three parties to the document: the lender (beneficiary), the borrower, and the trustee. The trustee when notified by the lender that the borrower is in arrears on the payments, sends out a Notice of Default to the borrower. The trustee on the original deed of trust was given the right to sell the property. The process is very specific: Trustee sends and records the Notice of Default; the borrower has ninety days to bring the payments current. If the payments are not made current, the trustee sends and records a Notice of Trustee's Sale. This document must be published three times in a local newspaper. The publication will have the amount and the date of sale. The trustee does have the authority to postpone a sale which may happen in a short sale. This is a non judicial foreclosure because the courts are not involved.


With a mortgage there is no power of sale in the document. The lender must go to court and obtain a judgement which authorizes a foreclosure sale. Hence it is a judicial foreclosure. This process requires the lender presenting proof of the debtors lack of payments and can be a much more complicated process. Much of the controversy over foreclosures the past year was over whether the judicial process was properly documented. Our trust deed process is much more transparent and understandable.

Duck Stamps and Wildlife Art

November 18, 2011


It started by bringing the contestants to the Federal Duck Stamp Contest to exhibit at the San Bernardino County Museum. Since 1934, sales of the Federal Duck Stamps have helped purchase six million acres of wildlife habitat for the Migratory Bird Refuge System. The art produced by the artists who enter this contest is incredible to see. The realistic painting of ducks of all kinds is an education . Not only the work of professional artist, but there is now a Junior artists contest. The San Bernardino County Museum was the leader in bringing this exhibit to the west coast.


Tonight, an evening with the artists will be held at the museum from 6-9 p.m. The Wildlife art Festival officially opens at 9 a.m. Saturday morning and will continue Sunday when it will close at 4 p.m. On Saturday from 9:45 a.m. until 4:30 p.m. there will be Art Workshops for Children age 8 and up. These workshops have a $5 fee. The Family Fun Day will feature arts and crafts for everyone. All craft activities with the exception of the workshops for children are included with the museum paid admission. These activities and Art Workshops will continue on Sunday.


This annual event at the San Bernardino County Museum is a great opportunity to learn about wildlife art and about wildlife in general.

The Pendulum on Credit

November 17, 2011


Back in the 2005 and 2006 a common joke among real estate agents had to do with the ease of obtaining financing for a home - both purchase money or refinancing. "If you can fog a mirror, you are qualified." This lax standard for creditworthiness contributed to the end of the real estate boom and the dearth in the availability of loans. Lenders tightened up the regulations and qualifying for a loan required tons of documentation, high FICO scores and job stability.


Some of these stricter standards have probably contributed to the decline in the volume of homes sold even though prices and interest rates are at new lows.


When you become serious about wanting to take advantage of this great real estate affordability environment, connect up with a loan agent. Find out what will be required. Have the loan agent run your credit, fill out the application accurately. If you are self employed, the process will require even more documentation. If you have made a job change recently you may be denied a loan.


Get your w-2s or 1099s and your tax forms ready to give to the lender. If you are being "gifted" a down payment try to have it deposit in your account. If it is coming from a family member, the lender may want to verify their account.


Loan money is available, but it requires the potential borrower to be an open book. Verification and documentation are the standards for today's lenders.

Better Light from Those CFLs

November 16, 2011


Compact fluorescent lights are one way to save on your electric bill. However, many folks reject them because they seem not to give as much light as your traditional incandescent bulbs. Here are some tips taken from an FC&A Publishing book "How to do (just about) Everything Right the First Time".


"* Watts measure how much energy the bulb uses, while lumens measure the amount of light it gives off. Two CFLs can use the same number of watts but give off different amounts of light. Read the package label and buy a CFL with the same number of lumens as the bulb it is replacing - or more if you need more light."


"*...for light that resembles "bright white", "daylight," or "natural" incandescent bulbs, look for CFLs with 3500K or higher."


"* The Color Rendering Index (CRI) measures the bulb's ability to show an object's trure color, when compared to sunlight. Buy CFLs with a CRI of 80 or higher."


"*Buy only Energy Star-qualified CFLs. They must meet tough standards, and unlike other fluorescent, these are guaranteed not to buzz or hum."


I was pleased to come across this information as I had rejected the CFLs for spaces where I wanted bright light. I hope it proves helpful to you.

Structural or Cyclical?

November 15, 2011


Last evening I heard an interesting interview on Bloomberg TV. I do not remember the names of the participants, but what was being discussed caught my attention. One interviewee stated that this recession was not a cyclical recession such as we have approximately every ten to twelve years. He stated that what was different this time was that it was a structural recession.


I am not an economist so the discussion was a bit beyond me. However, I did look up "Structural" in Wikipedia. Here is what I found out.


"Structure is a fundamental, tangible or intangible notion referring to the recognition, observation, nature, and performance of patterns and relationship of entities."...."The description of structure implicitly offers an account of what a system is made of: a configuration of items, a collection of inter-related components of services..."


From these definitions, I could grasp what the interviewee was suggesting. This recession is changing the way private banks, the government sponsored entities (Fannie Mae and Freddie Mac) and the securities markets operate. Added to the changes in our national institutions is the rise of a global marketplace. If it is the structure that has been brought down by this recession, the rebuilding may be what is prolonging the recovery.


Interesting thought!

A Quick Review of the Over $400,000 Sales

November 14, 2011


The good news is that the over $400,000 single family home market in our area has managed to hold its own in terms of volume. The bad news is that we are still waiting for the volume to increase. Since January 2011 the numbers have ranged from a total of forty-seven in August for the fourteen communities. The low was in February with a total of twenty-two. Only two of the communities have not yet posted a sale over $400,000 - Rialto and Colton.


Overall our real estate market volume continues to trade in a fairly tight range. No signs of a major shift, but as noted a week ago, "Steady as she goes".

Pause to Remember

November 1, 2011


(11/11/11)


Today is Veterans' Day. November 11 was set aside as a day to remember those who had defended our country in time of war. November 11 was selected as Armistice Day. In November 1919, President Wilson proclaims November 11 as the first commemoration of Armistice Day with the following word:"To us in America, the reflections of Armistice Day will be filled with solemn pride in the heroism of those who dies in the country's service and with gratitude for the victory, both because of the thing from which it freed us and because of the opportunity it has given America to show her sympathy with peace and justice in the councils of nations."


The selection of November 11 was selected to honor the cessation of hostilities between the Allied nations and Germany which went into effect on the eleventh hour of the eleventh day of the eleventh month. The official ending of the First World War was actually the signing of the Treaty of Versailles on June 28, 1919.


Armistice Day became a legal holiday on May 13, 1938. In 1954 the act of 1938 was amended by striking out the word "Armistice" and inserting in its place "Veterans". November 11 became the date to honor American veterans of all wars.


If you are not attending one of the many ceremonies, remember to pause at the eleventh hour and give thanks for the bravery and heroism of American veterans.

Median Prices - January Through October 2011

November 10, 2011


These median prices are not derived by using any scientific methodology. I simply divide the number of closed sales reported through the CRMLS and divide by two. The selling price of this property at this halfway point is the price I use for the median. Remember, median is the point at which half of the properties sold for more and half sold for less.


I have omitted the zeros from the prices. Thus $175 is actually $175,000.


Banning/Beaumont.........Jan/175......Feb/155......Mar/155......Apr/155......May/148


............................................June/165....July/161.....Aug/165......Sept/151......Oct/159


Bloomington....................Jan/165.......Feb/130.....Mar/149......Apr/150.......May/125


...........................................June/150.....July/155....Aug/140......Sept/150......Oct/145


Colton...............................Jan/93.........Feb/122.....Mar/149......Apr/110........May/117


..........................................June/130.....July/110.....Aug/120......Sept/116.......Oct/95


Fontana...........................Jan/194........Feb/195.....Mar/211.......Apr/200.......May/185


.........................................June/215......July/205....Aug/200......Sept/200......Oct/210


Grand Terrace................Jan/203.......Feb/242.....Mar/200......Apr/205.......May/180


.........................................June/165.....July/220.....Aug/215.......Sept/222.....Oct/175/200


Highland.........................Jan/162.......Feb/180......Mar/155.......Apr/165......May/185


.........................................June/182.....July/163.....Aug/200.......Sept/165.....Oct/170


Loma Linda....................Jan/250.......Feb/219......Mar/220......Apr/200......May/235


.........................................June/250.....July/220....Aug/250.......Sept/210.....Oct/195


Mentone.........................Jan/157........Feb/80.......Mar/85.........Apr/129/154....May/95


.........................................June/95.......July/144.....Aug/159/235.....Sept/93/170......Oct/80/150


Moreno Valley...............Jan/155.......Feb/154......Mar/148.......Apr/148........May/148


.........................................June/153.....July/157.....Aug/159........Sept/155......Oct/152


Redlands........................Jan/218.......Feb/203......Mar/205......Apr/202.......May/220


........................................June/225.....July/205.....Aug/215.......Sept/196......Oct/225


Rialto.............................Jan/160........Feb/165......Mar/152.......Apr/160.......May/164


.......................................June/158......July/165.....Aug/170....... Sept/161......Oct/160


Riverside......................Jan/180........Feb/195......Mar/187.......Apr/189........May/190


......................................June/189......July/190.....Aug/200.......Sept/195.......Oct/185


San Bernardino..........Jan/122.........Feb/105......Mar/95.........Apr/109........May/105


.....................................June/99.........July/123.....Aug/100.......Sept/105.......Oct/105


Yucaipa/Calimesa.....Jan/210.........Feb/190......Mar/181.......Apr/198.........May/180


.....................................June/188......July 195......Aug/212.......Sept/165........Oct/171


The range of median prices continue to be fairly narrow. No big improvements but no big declines. Just a market finding its bottom and stabilizing.

Residential Real Estate Closing - January 2011-October 2011

November 9, 2011


Once again I post the number of closed single family homes for the year 2011 through the end of October. These are the properties reported "sold" though the CRMLS. They do not include for-sale-by-owner or properties sold on the court house steps as foreclosures.


Banning/Beaumont...........Jan/93.......Feb/84.......Mar/147.......Apr/129.......May/121......June/147


..............................................July/152....Aug/114......Sept/134......Oct/126


Bloomington......................Jan/25.......Feb/15........Mar/20.........Apr/32.........May/11.......June/32


.............................................July/25......Aug/18.......Sept/20.........Oct/27


Colton.................................Jan/42.......Feb/36.......Mar/28..........Apr/44.........May/46......June/35


............................................July/49.......Aug/50.......Sept/41.........Oct/44


Fontana.............................Jan/212......Feb/177.......Mar/165.......Apr/246.......May/211.....June/287


...........................................July/228.....Aug/239......Sept/242......Oct/227


Grand Terrace.................Jan/6...........Feb/9...........Mar/11.........Apr/10.........May/8.........June/13


..........................................July/10........Aug/11.........Sept/11.........Oct/8


Highland.........................Jan/47.........Feb/37.........Mar/55.........Apr/62.........May/56.......June/54


..........................................July/55.......Aug/62.........Sept/66........Oct/48


Loma Linda....................Jan/22........Feb/12..........Mar/15.........Apr/12..........May/22.......June/18


.........................................July/14.......Aug/15..........Sept/13........Oct/26


Mentone.........................Jan/5..........Feb/6............Mar/12.........Apr/4...........May/11........June/7


.........................................July/11.......Aug/6............Sept/11.........Oct/8


Moreno Valley...............Jan/191......Feb/159........Mar/273.......Apr/246......May/232......June/269


.........................................July/249....Aug/253.......Sept/236.......Oct/198


Redlands........................Jan/54........Feb/44.........Mar/55..........Apr/67........May/67........June/75


........................................July/56.......Aug/78.........Sept/65.........Oct/65


Rialto.............................Jan/104......Feb/66..........Mar/132.......Apr/116.......May/108......June/116


.......................................July/111.......Aug/121........Sept/109......Oct/100


Riverside......................Jan/309.......Feb/257........Mar/368......Apr/383......May/418......June/398


......................................July/371.......Aug/451........Sept/411.......Oct/344


San Bernardino..........Jan/289.......Feb/141.........Mar/213.......Apr/220......May/202......June/230


.....................................July/197.......Aug/192........Sept/182.......Oct/180


Yucaipa/Calimesa.....Jan/50.........Feb/41...........Mar/66.........Apr/58........May/50........June/68


.....................................July/49........Aug/78..........Sept/67.........Oct/62


Just a reminder; when a purchase agreement is written by a buyer and accepted by a seller, it is usual that the time until the transaction actual is closed can be forty-five to sixty days. Thus sales reported closed in January and February generally reflect the market in November and December.

Closed Single Family Residential Sales - October 2011

November 8, 2011


As is my custom, I am posting the number of units of single family residential properties that were reported as sold through the CRMLS. Here are the numbers for the month of October 2011 back to 2003.


Banning/Beaumont...........2011/126......2010/122......2009/138......2008/137......2007/48


..............................................2006/77.......2005/79........2004/72........2003/81


Bloomington.......................2011/27.......2010/35........2009/33........2008/37........2007/2


..............................................2006/25......2005/30.......2004/29........2003/24


Colton..................................2011/44.......2010/38.......2009/50........2008/71.........2007/13


..............................................2006/43......2005/63.......2004/54........2003/52


Fontana...............................2011/227.....2010/219......2009/312......2008/376......2007/73


..............................................2006/198....2005/276.....2004/226......2003/246


Grand Terrace....................2011/8.........2010/9..........2009/14........2008/10.........2007/8


.............................................2006/9.........2005/16........2004/14.......2003/10


Highland............................2011/48.......2010/60........2009/64.......2008/79..........2007/24


............................................2006/61.......2005/63........2004/65.......2003/73


Loma Linda......................2011/26........2010/10........2009/17........2008/11..........2007/4


...........................................2006/25.......2005/17........2004/13........2003/11


Mentone..........................2011/8...........2010/6..........2009/8.........2008/13..........2007/2


..........................................2006/4..........2005/8..........2004/5.........2003/16


Moreno Valley................2011/198......2010/214.......2009/340.....2008/546......2007/84


.........................................2006/211.......2005/307......2004/304.....2003/283


Redlands........................2011/65.........2010/67.........2009/60........2008/62........2007/34


.........................................2006/55........2005/73........2004/58........2003/78


Rialto..............................2011/100.......2010/85........2009/154......2008/138.......2007/62


........................................2006/87.........2005/110......2004/107......2003/131


Riverside.......................2011/344........2010/361......2009/477......2008/510.......2007/134


.......................................2006/344.......2005/421......2004/400.....2003/418


San Bernardino...........2011/180........2010/212......2009/343......2008/288......2007/95


......................................2006/188.......2005/222......2004/198......2003/246


Yucaipa/Calimesa......2011/62..........2010/67........2009/66.........2008/65.........2007/28


......................................2006/54.........2005/73........2004/58........2003/81


You can note that 2007 is when the volume of sales dropped significantly. You an also note that after that significant drop, the following year 2008 saw an increase in volume. In some cases the volume in October 2008 was the largest in the entire span of nine years. This years numbers are in the range of volume for most of the October sales.

Steady As She Goes

November 7, 2011


I attended the 2011 Riverside San Bernardino Economic Forecast Conference at the Riverside Convention Center on Thursday. It was sponsored by the University Of California, Riverside, School of Business Administration and Beacon Economics. As I listened to the presentations for the national forecast and then for the regional forecast for Inland Southern California, a phrase popped into my head, "steady as she goes".


Basically it was presented that we are recovering, but the recovery is weak. Nevertheless, the data shows positive numbers for the past three months and a trend toward very slow improvements to the economy. The presenter made the analogy that the economy was like his thirteen year old daughter - the ultimate drama queen.


As those of you who follow this blog are aware, I have been tracking the real estate market in our region for the past five years. I will be posting tomorrow the closed single family home sales for the fourteen communities that I track. On Wednesday I will post the numbers from January through October. Check for yourselves. Steady as she goes seems to be where we are. No big changes, just a narrow range with a good deal of consistency.


We may have been spoiled by faster recoveries but "steady as she goes" can lead to a good solid future.


Steady as she goes is a nautical term meaning: Steer as needed to continue current heading.

Fall Back, Adobe Days and First Five

November 4, 2011


This Saturday, the Sepulveda Adobe in Yucaipa will host "Adobe Days". This is a chance to experience how settlers in the past lived and built their homes. You can participate in making adobe bricks.


Then at 2 a.m. Sunday morning, you need to reset your clocks and "Fall Back" into Pacific Standard Time. You gain one hour from now until Spring.


On Sunday, November 6, 2011, First Five will be sponsoring a free family day to the San Bernardino County Museum. These are always exciting events as First Five encourages reading and other learning activities.


These are great ways for families to participate and learn together. For more information about the San Bernardino County Museum activities go to www.sbcounty.gov/museum/

What's a Dream House in the 21st Century?

November 2, 2011


There was an article in this morning's Wall Street Journal that discussed the floor plans of new housing - what's in and what's out.

In the 1990s and early 21st century the grand foyer with the open staircase was a desirable feature, but the grand entry is no longer in the new house designs. The trend seems to be toward open floor plans, great rooms and well appointed outdoor living spaces. More single story than two story - back to the California ranch.


Think about it. How many friends do you have who have redone a patio complete with outdoor kitchen and Bar-B-Q. You can now see outdoor furniture that resembles the sofas and chairs of a living room. (Of course, this is Southern California where the weather encourages outdoor living.)


Dream a little. What would your dream house be? Would it be one of our classic Victorians? Would it be a Spanish bungalow? Would it be a ranch, a mid century modern, an impressive manor house?


What style of home fits with your lifestyle?

Listings, Pendings and Back-ups as of November 1, 2011

November 1, 2011


As usual I am posting the number of properties that are active or in escrow as reported through the CRMLS. Just as a point of interest, I calculate the ratio of properties in escrow(those with accepted purchase agreements) to the number of active listings. These ratios have improved throughout 2011 and are now better than 50 percent. This translates to at least half as many properties are in escrow as are available for sale. In five of the fourteen communities that I track, there are at least as many properties in escrow as their are being offered for sale.


Banning/Beaumont..........List/464.......Pending/186.......Back-up/101.......Ratio/.619


Bloomington......................List/59.........Pending/53.........Back-up/22.........Ratio/1.271


Colton.................................List/97.........Pending/95.........Back-up/33.........Ratio/1.320


Fontana..............................List/593.......Pending/525......Back-up/200.......Ratio/1.223


Grand Terrace...................List/41.........Pending/20.........Back-up/4............Ratio/.585


Highland............................List/149.......Pending/111........Back-up/52..........Ratio/1.094


Loma Linda.......................List/37.........Pending/32.........Back-up/16...........Ratio/1.297


Mentone............................List/34.........Pending/17.........Back-up/13...........Ratio/.882


Moreno Valley..................List/735.......Pending/481......Back-up/178.........Ratio/.897


Redlands...........................List/250.......Pending/97........Back-up/51............Ratio/.592


Rialto................................List/336........Pending/210......Back-up/51...........Ratio/.777


Riverside..........................List/1185......Pending/736......Back-up/392........Ratio/.952


San Bernardino...............List/657........Pending/418......Back-up/135........Ratio/.842


Yucaipa/Calimesa..........List/223........Pending/103......Back-up/63..........Ratio/.744


The "Back-up" category is used for accepted purchase agreements that have significant contingencies. The most usual contingency for properties reported as "Back-up" is the contingency on bank approval for the short sale. Usually a property listed as "Back-up" can continue to be shown and offers submitted to the seller who can accept them contingent on the cancellation of the previously accepted offer.


If you pay attention to the number of properties that are "Active", you can see that our area does not have a glut of properties on the market.