Thursday, March 31, 2011

It's Time to Stop and Smell the "Citrus Blossoms"

March 31, 2011 From year to year I sometimes forget that with the warming days of Spring comes the most wonderful smell - Citrus Blossoms. Perfumers have tried to capture this unique scent. Some have almost succeeded, but none are the same experience as smelling the real thing. When the Inland Empire had thousands of acres of Citrus, I imagine that the scent of the blossoms was quite overwhelming. It would be sad if we lost all these groves. Fortunately, municipalities are creating citrus parks in order to preserve this heritage. It is also a benefit to all of us that many folks include at least one citrus tree in their landscaping. Our CENTURY 21 Lois Lauer Realty office is situated adjacent to the orange grove that is maintained by the San Bernardino County Museum. We have the perk of breathing in the orange blossom scent as we come and go to work. Our clients who come from other parts of the country often ask us about this unique scent. Clearly citrus trees in blossom are an enhancement to our environment.

Wednesday, March 30, 2011

Virtual Tours

March 30, 2011 If you go into the various real estate search sites, you will usually be able to take a virtual tour of the listed properties. It has become fairly routine to add a virtual tour to listing inputs. Prospective buyers can check out the interior of homes as well as the exterior often including streetscapes. There is both a good side and a bad side to taking a virtual tour. The good is that buyers can sort of walk through a home and see how it might fit their needs. However, with the use of wide angle lens, etc, the buyers can get a distorted view and sometimes might eliminate the perfect house. I had fun using my digital camera to take pictures of my house. I had wanted to illustrate the before and after of staging a room. The exercise was a true eye opener for me. My beautiful cabbage rose decorated bedspread looked horrible! If you want to have some fun, take pictures of your rooms. You will find that you might want to rearrange furniture or even get rid of some items. Making this exercise a part of your Spring Cleaning will help with decisions to clean out unnecessary "stuff".

Tuesday, March 29, 2011

Planning Ahead

March 29, 2011 In their hiatus from starting new construction, home builders are surveying future home buyers, Gen X and Gen Y. They want to learn what amenities these generations will look for when they are ready to purchase their first home. There have recently been several articles describing what future new homes might be like. A recent report titled "The New Home in 2015" was created using survey results from 3019 builders, designers, architects, manufacturers and marketing specialists. (It is interesting to note that the survey was of professionals in the home building industries, not actual potential home buyers.) As a result of these surveys, builders are planning for smaller, more compact homes, often eliminating foyers, dining rooms and separate living rooms. They are looking at the open, great room floor plan. Walk-in closets, large master bedrooms, and ceiling fans are still being planned. They are also planning to incorporate "green" features It will be interesting to see how the results of these surveys play out in the next wave of new home construction. If you are in the next generation of home buyers, you might want to also plan ahead. What will you look for when you set out to purchase your first home? As a potential home buyer, now is also the time to start putting aside the funds. Planning ahead is a useful strategy for not only builders, but also buyers.

Monday, March 28, 2011

Green Packing

March 28, 2011 The California Association of Realtors Newsletter always has a "Green Tip of the Week". Last week's tip caught my attention since ultimately are clients will be packing as they move from one property to another. Some will have the luxury of professional movers, but many will be doing the packing themselves. It is possible to purchase used packing boxes from moving companies. That can be a place to begin the reuse of packing materials. To continue to go "green" on your next move, you can wrap fragile items in old newspapers and when you unwrap them you can recycle the paper. Using newspaper can be as protective as Styrofoam, bubble wrap and peanuts that are not good for the environment. As for furniture - I was amazed at the efficiency of professional movers who came to take some valuable pieces of furniture for a Bonham and Butterfield auction. They used blankets, not foam wraps. They then almost totally wrapped masking tape around the blanketed item. Thus the packing of the furniture was either recyclable (masking tape) or reusable (blankets). If it is absolutely necessary to use non-biodegradable packing materials, ask around. You will probably be able to locate some from someone's past move. You might also try Mail Boxes, etc. or a UPS store. I know that they happily take my old peanuts and reuse them. When we move we can add "environmentally friendly" to our packing.

Friday, March 25, 2011

New Museum in Apple Valley

March 25, 2011

Last weekend, San Bernardino County held the grand opening of the new Victor Valley museum. The Victor Valley Museum building was constructed in 1992 and operated as a not-for-profit entity sustained entirely by community volunteers. In 201o, the museum became a part of the San Bernardino County Museum system. The exhibits are organized around the theme: "Discover Your Own Backyard."

This Saturday, March 26, from 11 a.m. til 3 p.m. the museum will be hosting a Family Fun Day addressing the question "What does it take to survive in the Mohave Desert?"

The program is suitable for families with children ages 5 to 12.

Admission to the museum is $5 (adult), $4 (senior and military), $2.50 (student), under 5 and Museum Association members are free. The hours for the museum are 10 a.m. to 4 p.m. on Wednesday though Sundays. Th Victor Valley Museum is located at 11873 Apple Valley Road, Apple Valley, CA 92308. For information call 760 -240-2111.

Thursday, March 24, 2011

"Once in a Lifetime Opportunity"

March 24, 2011

"Once in a lifetime opportunity". I heard that expression yesterday while listening to an interview of an economist who was answering questions about the state of the current housing market. There is a lot of news about housing sales being down both in volume and price. Yesterday the news concerned sales of new construction. I personally think it should be of no surprise to anyone that the volume of sales of newly constructed homes has decreased. Just look around our Inland Empire Region. Do you see new home developments being constructed? If their are few homes being built, there will be few newly constructed homes being sold. Until construction of residential real estate begins again, the numbers for sales will continue to be low.

Back to the "once in a lifetime opportunity." The economist pointed out that the affordability index is teetering around 70%. That translates to 70% of eligible potential home buyers could qualify for the median priced. home. Additional favorable opportunities are the following:

1) Interest rates are still hovering slightly under 5% for a 30 year fixed mortgage.

2)You can still obtain an FHA guaranteed mortgage with only 3.5% down. (The winds of change suggest that this low down payment may go away before the end of the year.

3)Home prices are as low as they have been in the past decade and while no one can say for sure that the bottoming out of prices has occurred, prices are remarkable.

The convergence of all these components creates a buying opportunity. If one ever wanted to become a homeowner, it seems that there would hardly be a better time.

Wednesday, March 23, 2011

Short Sale Buzz

March 23, 2011

Short Sales have been a factor in the current real estate market for at least three years. As time has gone by, lenders have revised policies and the length of time to obtain lender approval of a short sale seems to have declined. In spite of the regulation that was passed last year stating that lenders need to reply within a ten day period, no such time frame has come to pass. Agents, Buyers and Sellers and Buyers still wait an uncertain amount of time for a lender to accept a short sale offer or to decline it or to counter it.

Practically every real estate trainer or association offers classes to agents on the best ways to process a short sale offer. Tomorrow, we are attending a Webinair put on by Bank of America with the goal of learning their requirements and processing procedures. Both N.A.R. and C.A.R. have also sponsored workshops purporting to train agents to correctly handle a short sale offer. Some agents are advertising that they are "short sale certified specialists". The "buzz" is clearly on.

So far, it has been a roller coaster ride of promises and failed promises about streamlining the process. In the meantime, at least 30%+ of all for sale properties are "short sales". With all the attention focused on these transactions, we can hope that they will begin to process in a more timely fashion.

Tuesday, March 22, 2011

Bathrooms Are Almost as Important as Kitchens

March 22, 2011

It has long been a real estate byword that kitchens are an important feature of any home. Especially in today's real estate environment, having an updated kitchen (stainless steel and granite) is one of the criteria that buyers cite when looking for a property to buy. However, bathrooms are showing up in buying prospects "must have" lists.

A total bathroom redo can be an expensive proposition. Much of our inventory was built prior to the year 2000 which means prior to the trend towards large bathrooms. How to best overcome your dated bathrooms?

As with all aspects of preparing a house for showing to prospective purchasers, sparkling clean can overcome many of the feature limitations.

In a bathroom with tiled counters and tub or shower surrounds, check out the grout. It can discolor or develop mildew. Re grouting is a fairly inexpensive fix and can make the tile look almost newly installed.

Repainting the walls of a bathroom can also work wonders in overcoming "datedness". If you have wallpaper on your bathroom walls, REMOVE IT.

Buy the best quality paint, preferably a 100 percent acrylic latex paint. It will resist moisture and mildew better and will be more washable. Skimping on the quality of the paint is definitely a mistake. Prior to painting, fill and sand the surface. Clean the walls with a sponge and mild detergent. If mildew is present, use 2 parts water and 1 part bleach in your washing solution. Rinse with clean water before painting.

You can probably complete these improvements yourself for as little as $100. You might just get a huge return on your investment of time and energy. You certainly will have made your bathroom show crisp and clean.

Monday, March 21, 2011

"Skin in the Game"

March 21, 2011


I did a post some time ago about various common colloquialisms and "skin in the game" was one of them. In recent months, I have not heard the expression used very much - at least not as often as it once was. However, the expression is cropping up again as the government and the financial institution readjust their lending standards.

A recent article that was in "Broker Agent Social' written by Preston Howard of Rose City Inc in Pasadena was entitled "Higher Down Payments may be the New Norm...Permanently".

As the federal government attempts to reform both Fannie Mae and Freddie Mac, the two government sponsored entities that purchase most of the mortgages made by lending institution, there is a serious consideration that all borrowers must have at least 10% down payment. Sheila Bair of the FDIC actually is calling for a minimum 20% down payment.

The argument boils down to "How much skin in the game" should a borrower be willing to contribute?"

FHA mortgages can still be obtained with only a 3.5% down payment. These loans have been the most popular lending vehicle for the past year or two with approximately 50% of all loans being FHA guaranteed loans.

VA loans were created in order that veterans would be able to purchase homes. A VA loan requires no down payment and perhaps will not be changed since the motivating factor behind the creation of the VA loan was to give assistance to those who had served in the armed forces.

As the government works to put home financing on a more stable footing, they recognize that they could derail a fragile recovery. Still, the concept of "skin in the game" is an attractive requirement. The question is "How much "skin" should be required?

Friday, March 18, 2011

Spring Projects Add Value

March 18, 2011

This Sunday, March 20 will be the first day of Spring. While sometimes in Southern California we think we experience all four seasons in one day, we still do have a real Springtime.You have only to drive around and see the trees flowering and beginning to leaf out.

As the days become warmer, it is a good time to check out your landscaping. Are there plants that did not survive the few freezing days? Trim them or replace them. A well manicured yard adds real value to a property. Overgrown shrubbery, dead plants and a yard full of blooming dandelions, in this present real estate environment, shouts foreclosure or at best, neglect.

The local garden shops are filled with beautiful flowering plants, soil enhancers and any kind of garden tool you might need. A yard renovation project now will create much pleasure by summer.

Spring cleaning has long been a phrase that folks used to denote that time has come to sort through closets and garages. Washing windows, cleaning curtains and all sorts of chores to give your property a needed "pick-up" Staying on top of one's accumulation of stuff makes living so much more pleasant.

Check out smoke detector batteries. Change furnace filters. This first weekend of Spring is a great time to do the chores and check these tasks off your "to-do" list. Keeping up your property always adds to its value - both if you want to sell it or just enjoy it.

Thursday, March 17, 2011

It's St. Patrick's Day

March 17, 2011
"St. Patrick's Day is an enchanted time -- a day to begin transforming winter's dreams into summer's magic." This is a quotation from Adrienne Cook and it is a good suggestion to look forward . Even the non-Irish wear green and enjoy the corn beef and cabbage dinner. In San Bernardino today and tomorrow there will be a St. Patrick's Day Festival. It is a free event with bag pipers, step dancers, contests, food and beverage. It is being held on the Green next to the California Theatre of the Performing Arts, 562 W. Fourth Street in San Bernardino. Information at 909-885-5152 or http://www.theatricalarts.com/

At 8 p.m. Friday evening there will be a "Beyond Celtic" concert starring Irish tenor Michael Londra. Admission for this concert is $19-$49. Information at 909-885-5152 or http://www.californiatheatre.net/
Here is our Irish blessing to you:
"May you live a long life
Full of gladness and health,
With a pocket full of gold As the least of your wealth.
May the dreams you hold dearest, Be those which come true, The kindness you spread, Keep returning to you."

Wednesday, March 16, 2011

A Few Comments About Preliminary Title Reports

March 16, 2011

Every home buyer or seller should receive a copy of a Preliminary Title Report forwarded from the escrow holder. Unfortunately, with all the documents involved in a sale transaction, many folks fail to read this report. It is important to do so and if there are items in it that one does not understand, ask your agent to explain. If the agent is not clear about the item, they can get additional clarification from the title company.

A few things to certainly check. 1. There will be a copy of the Assessor's map showing the property being sold. Make certain the marked property is actually the one that is the subject of the transaction.

2. The report will list all current liens against the property. If you are the seller, check to see if the numbers agree with your numbers.

3. The report will list any easements on the property. If the verbiage does not make clear where the easement is, you can ask the title company to map it.

4. Many properties will have conditions, covenants and restrictions (CC&Rs)

You should order a copy of the recorded document that spells out what these are. Usually they are nothing that will interfere with a buyer's use of the property, but it is wise to know exactly what they are.

These are just a few of the items found on a Preliminary Title Report. The important thing is that you read it as the escrow will ask you to sign that you approve it.

Tuesday, March 15, 2011

"Where Never is Heard a Discouraging Word..."

March 15, 2011

I would like to quote a section of an article on Inman News that was written by David Fletcher.

"As the story goes, a herd of buffalo stampedes across a wide-open range under a cloudless sky when the herd's leader suddenly stops in his tracks. One of the herd's older members lumbers over to the leader and asks why he stopped.

With his big brown eyes, and deep whispering voice, he turns to his fellow buffalo and says, "I thought I heard a discouraging word."

There are many discouraging words to be found these days, but are we letting them stop us in our tracks? I certainly hope not.

There is many encouraging signs, both locally, nationally and internationally. As horrendous as is the situation in Japan, a Japanese friend of mine said, "It is so wonderful the way the international community has come forward to provide aid and assistance - even China". For her it was encouraging that in spite of ages and ages of animosity between Japan and China, in this hour of dire need, China came to assist.

On a local level, it is encouraging that commerce is picking up and the economy is showing tiny sprouts of growth.

We could listen to discouraging words and stop acting, but it is much better to keep moving in a positive direction. You are not going to hear a discouraging word from this blog.

Monday, March 14, 2011

Don't Procrastinate Any Longer

March 14, 2011

This time I am not referring to procrastinating over buying a home. This time I am referring to your personal earthquake preparedness. The 9.0 earthquake in Japan should be a reminder that we, too, live in earthquake country. While building codes have been strengthened, but even if the buildings survive there can be a need for individuals to be prepared. Food, water and warm clothing may be vital to surviving electrical blackouts and distribution routes being shut down.

I know that I have a pantry full of canned goods - soups, fruits and the like. However, many have expiration dates that have long since passed. While the food inside the cans maybe safe to eat, it is probably wise to replenish the supply. Having a plastic container in the trunk of one's car is also a good idea. food, water, clothing and especially comfortable shoes are essential. A can opener should be kept with these supplies.

This is simple preparedness. The other simple preparedness is a disaster plan that describes a contact strategy for locating friends and family.
There have been major disaster events around the world. It is time for all of us to be serious about our own disaster preparedness.

Friday, March 11, 2011

Learning About Insects

March 11, 2011

This Saturday, March 12 from 9 a.m. to 5 p.m. the San Bernardino County Museum will be hosting the annual "Insectival". This is one of the most popular family fun days. Visitors will have an opportunity to see a large variety of insects. UC Riverside entomology students will be leading special activities for children.

The San Bernardino County's Public Health Department will have information for parents.

Since we are entering the "swarming" seasons for termite colonies, you can learn about the different shape of termites that are common to our region .

Bed bugs are in the news these days and you will be able to learn more about this critter.

Admission is $8 for adults; $6 for seniors and military; $4 for children ages 5-12; Admission is free for children under 5.

For more information 909-307-2669 or http://www.sbcountymuseum.org/

Thursday, March 10, 2011

Median Home Prices - January/February 2011

March 10, 2011

In the continued interest of tracking the real estate market in our area, here are the median prices for the fourteen communities that I follow. These numbers come from taking the number of closed transactions for single family homes that are reported in the regional MLS system and dividing that number in half. The price at the halfway point is selected as the median for that area. Not scientific, but it is a consistent methodology that should reflect trends.

Banning/Beaumont......Jan/170,000......Feb/155,000

Bloomington.................Jan/165,000.......Feb/130,000

Colton...........................Jan/93,000.........Feb/122,000

Fontana........................Jan/194,500........Feb/195,000

Grand Terrace.............Jan/203,000.......Feb/242,000

Highland......................Jan/162,000........Feb/180,000

Loma Linda.................Jan/250,000........Feb/219,000

Mentone......................Jan/157,000.........Feb/80,000

Moreno Valley............Jan/150,000.........Feb/154,000

Redlands.....................Jan/217,900.........Feb/203,500

Rialto..........................Jan/160,000.........Feb/165,000

Riverside....................Jan/180,000.........Feb/195,000

San Bernardino.........Jan/120,000.........Feb/105,000

Yucaipa/Calimesa....Jan/195,000..........Feb/190,000

For small communities such as Mentone, Bloomington, Grand Terrace and Loma Linda the numbers are a bit skewed when you only have a pool of six or eight sold properties.

Just FYI, only five of the communities had any sales over $400,000. Riverside had 10, Redlands had 6, Yucaipa, Fontana and Highland each had 2.

Wednesday, March 09, 2011

"First-time home buyers turn fussy"

March 9, 2011
The above quotation was the heading of an op-ed piece by Kenneth R. Harney in the March 6, Los Angeles Times newspaper. It caught my attention because it reflected what real estate agents are experiencing as they show present day prospective buyers homes that are for sale. Since the newly constructed homes are rather few and far between due to the halt in new residential development, agents are mostly showing previously lived in homes.
In a recent survey of 300 first-time buyers, 87% said that "finding a move-in ready home is important." This desire may in part be due to the real fact that it generally takes two incomes to support a mortgage. Thus these potential home buyers are working at least five days a week and do not want to spend their off days doing fix-up chores.
However, the article cites an agent in Reston, VA who wrote that"some shoppers are so picky that they walk out of well-priced homes solely because of relatively minor imperfections such as:
The kitchen appliances are by different manufacturers.
There are no granite counters - despite the fact that the house is a modest priced starter home.
A carpet needs replacing or the color doesn't match their furniture.
Wall colors are "wrong" such as white, when for today's tastes, they should be a warmer hue.
At one time it was the case that home buyers accepted the fact that a previously owned home would require some "fixing" to meet their particular style, they seemed more interested in location and floor plans than in the particular decor of the existing home.
Home sellers cannot just push aside these picky, picky buyers. Certainly not if they wish to sale their home in our present real estate market.

Tuesday, March 08, 2011

February Closed Sales - 2011-2003

March 8, 2011

The data for closed single family residential sales comes for the closed transactions reported in the CRMLS. It is interesting to compare the number of units sold during the past nine years. As we are all aware, these years encompass both the height of the real estate boom and the bottom of the bust.

Banning/Beaumont......2011/84.......2010/107......2009/105......2008/46......2007/54

.......................................2006/70......2005/71........2004/68.......2003/50

Bloomington.................2011/15........2010/24........2009/23.......2008/4........2007/10

......................................2006/20......2005/18........2004/16........2003/23

Colton...........................2011/36........2010/51........2009/52........2008/21......2007/22

.....................................2006/42.......2005/34.......3004/25........2003/38

Fontana.......................2011/177.......2010/217......2009/293.....2008/80......2007/92

.....................................2006/190.....2005/202.....2004/170.....2003/175

Grand Terrace.......................2011/9..........2010/10.........2009/5.........2008/4........2007/6

....................................2006/10.......2005/7..........2004/11........2003/4

Highland....................2011/37........2010/35.........2009/47.......2008/25......2007/24

...................................2006/39.......2005/56........2004/45.......2003/57

Loma Linda........................2011/12.........2010/8...........2009/7.........2008/8........2007/14

..................................2006/10.......2005/8...........2004/10.......2003/7

Mentone...................2011/6..........2010/5...........2009/7..........2008/12......2007/4

..................................2006/4........2005/7...........2004/4..........2005/6

Moreno Valley......................2011/159......2010/236.......2009/345......2008/140....2007/109

................................2006/222....2005/187.......2004/197......2003/192

Redlands................2011/44........2010/43.........2009/38........2008/19......2007/43

...............................2006/50.......2005/65........2004/39.........2003/58

Rialto.....................2011/66........2010/93.........2009/114.......2008/21......2007/50

...............................2006/71.......2005/96.........2004/90........2003/83

Riverside...............2011/257......2010/329.......2009/391.......2008/147....2007/229

..............................2006/333.....2005/280.......2004/305......2003/201

Yucaipa

Calimesa..............2011/41........2010/45..........2009/35.........2008/38......2007/33

.............................2006/39......2005/47..........2004/61.........2003/40

There you have the numbers. You can draw your own conclusion as to where we are in the real estate cycle.

Monday, March 07, 2011

What's It Worth?

March 7, 2011

Real Estate agents are often asked by both buyers and sellers, "What's it worth?"

The really appropriate "off-the-cuff" answer is "It depends". However, one often gets the retort "you're the professional, you should know."

The worth of any material object depends on several factors. Real estate is no different.

The worth of a house to a seller depends on how much it has satisfied his lifestyle. A seller may also determine the worth of a property by how much a friend or neighbor was able to sell a similar property for.

The worth of a house to a buyer will depend on the reasons for wanting to make the purchase. Is it because the house is exactly perfect for the buyer's wants and needs? Is it because it is in a desirable location? Is it because it looks like a great investment? Is it because other houses with similar amenities in similar locations have sold at a particular price?

The worth of a house to a real estate agent will probably be a bit more analytical. How large is it? Where is it located? Does it have any upgrades or updating? What have comparable properties been selling for?

In the end, a property is worth whatever price a willing buyer and a willing seller will agree upon with the addition of a lender's assessment as to what the lender would be willing to lend. A buyer and seller may agree on a price, but the lender will not appraise the property at the agreed upon price.

At that stage of a real estate transaction, the "What's it worth" question becomes for the buyer "Am I will to put more money down and pay above appraisal?; for the seller, " Am I will to sell it for the appraised value?"

It depends on motivation and desire - the most important factors in decision making.

Friday, March 04, 2011

Now is the Time to Spruce up Your House and Garden

March 4, 2011

This weekend, The Press Enterprise newspaper is sponsoring the 2011 Riverside Home and Garden Show. This is a great opportunity to attend gardening seminars, see exhibitions of the latest in kitchen, bath, doors, windows, roofing, pools, etc. Everything you want to know about ways to improve both the interior and exterior of your home will be on display.

There will be free parking and free admission.

The show opens at noon today, Friday, March 4. Today it will be open until 7 p.m on Saturday, March 5, the show will open at 10 a.m. and continue until 7 p.m. and on Sunday, March 6, the doors again open at 10 a.m. and will close at 6 p.m.

The event is held at the Riverside Convention Center, 3443 Orange Street in Riverside. For more information you can call 800-358-7469 or on the Internet, http://www.homeshowconsultants.com/

Thursday, March 03, 2011

The Beat Goes On - Fannie and Freddie

March 3, 2011


Last week I posted some information about Fannie Mae and Freddie Mac, the two Government Sponsored Entities (GSE) that the Congress and the Obama administration are proposing to either eliminate or reform. Both entities have been losing money continuously as the loans that they purchased are in default. These mortgage defaults lead to losses and because these GSEs are government backed, the government is paying out taxpayer funds to keep them afloat.


Exactly how to reform or eliminate these important players in the housing finance marketplace is going to be a major challenge. Being too aggressive in downsizing them and the housing market may suffer a major setback. Not doing anything keeps the red ink flowing and the national deficit growing.


There have been some thoughtful editorials about how the transformation might best be handled. To date there is a great deal of conversation, but no impending proposals to change the laws and regulations.


The Fannie/Freddie saga is a fairly focused area that needs change. Watching how it unfolds will reveal where are elected officials really stand on deficit reduction issues.

Wednesday, March 02, 2011

The Over $400,000 Market

March 2, 2011

I was asked yesterday about how the high end of the real estate market was doing. If you define "high end" in our Inland Empire real estate market as properties listed for $400,00 or more,here are the numbers as reported though the CRMLS.

Banning/Beaumont......List/13.....Pend/1......Backup/2......Ratio/.231

Bloomington.................List/4.......Pend/0.....Backup/0......Ratio/.000

Colton............................List/3.......Pend/1......Backup/0......Ratio/.333

Fontana.........................List/18.....Pend/7......Backup/1.......Ratio/.444

Grand Terrace..............List/0......Pend/0......Backup/0......Ratio/.000

Highland.......................List/8......Pend/0......Backup/0......Ratio/.000

Loma Linda..................List/5.......Pend/1......Backup/0......Ratio/.200

Mentone.......................List/0.......Pend/0.....Backup/0......Ratio/.000

Moreno Valley.............List/11.......Pend/0.....Backup/0......Ratio/.000

Redlands......................List/75......Pend/11....Backup/5......Ratio/.213

Rialto...........................List/1........Pend/0......Backup/0.....Ratio/.000

Riverside.....................List/137....Pend/38....Backup/22....Ratio/.438

San Bernardino..........List/21......Pend/1.......Backup/0......Ratio/.o48

Yucaipa/Calimesa.....List/46......Pend/5......Backup/4.......Ratio/.196

This is the first time that I have posted these numbers. Clearly this is the segment of the market that needs to recover.

Tuesday, March 01, 2011

Listings and Pendings - March 1, 2011

March 1, 2011

A new month is beginning and here are the numbers for the active listings, the properties that have accepted offers and the ratio between the two. Except for the Banning/Beaumont area, there are half as many properties in escrow as there are active listings.

Banning/Beaumont.....Listings/646....Pendings/202....Backup/65......Ratio/.413

Bloomington................Listings/73.......Pendings/60......Backup/13.......Ratio/1.000

Colton..........................Listings/144......Pendings/81.......Backup/34......Ratio/.799

Fontana.......................Listings/856.....Pendings/468.....Backup/155....Ratio/.728

Grand Terrace............Listings/29.......Pendings/20.......Backup/3........Ratio/.793

Highland.....................Listings/200....Pendings/107......Backup/33......Ratio/.700

Loma Linda................Listings/56.......Pendings/32........Backup/8........Ratio/.714

Mentone.....................Listings/34.......Pendings/12.........Backup/8........Ratio/,588

Moreno Valley.........................Listings/970.....Pendings/466......Backup/159.....Ratio/.644

Redlands....................Listings/295.....Pendings/98........Backup/51.......Ratio/.505

Rialto.........................Listings/365......Pendings/233......Backup/71.......Ratio/.833

Riverside...................Listings/1506.....Pendings/659.....Backup/282....Ratio/.625

San Bernardino........Listings/841.......Pendings/416......Backup/100....Ratio/.614

Yucaipa/Calimesa....Listings/257......Pendings/92........Backup/62......Ratio/.599

These numbers are very close to the numbers posted for February 1, 2011. They do not indicate any significant changes in the volume of transactions for the past two months. Since I did not track these types of numbers during the ""boom"years, I do not know what precisely, I need to watch. Certainly, if there were a big decline in the ratios, it could be a sign of a slow down. However, the ratios are better than they were when I first started track about two years ago.

I believe that our local real estate markets are showing a positive trend.