An Opportunity to View the Latest Home Improvements

March 30, 2012


Starting at noon today and continuing through this weekend, The Inland Empire Home and Garden Show will be at the National Orange Show Events Center, 689 South E Street in San Bernardino. The hours are 12 p.m. to 7 p.m. today, 10 a.m. to 7 p.m. Saturday and 10 a.m. to 6 p.m. on Sunday. Admission and Parking are free.


There will be exhibits in Home Improvement, remodeling, decorating, landscaping. There will be cooking demonstrations, entertainment and lots and lots of vendor displays.


If you have any thoughts of making improvements to your property this is a great opportunity to check out the latest products.


For more information you can call 951-681-0644 or on line at http://www.homeshowconsultants.com/

A Spring Chore

March 29, 2012




If you have a home that has gutters, it looks like this weekend will be a good time to check them out. We have had two weekends of rain and if you noticed any overflow from above or lack of flow in the downspouts, your gutters may have accumulated dirt, leaves, etc. that have filled them or blocked there proper function.

You will probably need to climb a ladder to be able to look inside your gutters. Using a garden trowel or some other scooped shaped tool can be beneficial in removing the dirt and debris. You can use your garden hose to flush out the downspouts. You will quickly observe whether they have become blocked as the water will not flow freely. If there is enough pressure in your garden hose, it should push out any debris that is blocking the downspout.

Mesh guards for your gutters can be installed and they will prevent leaves and larger items fromclogging the gutters. However, they do not entirely eliminate the need to clean out the gutters from time to time as smaller items plus the settling of the dust in the air will eventually build up and limit the effectiveness of the gutters. The downside of installing the mesh guards is that they will make scooping oyt the accumulated debris more difficult.

Just look at this chore as a time to enjoy the fresh air and the sunshine as you climb your ladder and use your scoop.

If Only.....

March 28, 2012


If only is an expression that can be used to express regret or desire. For example:


Agents will wish:


If only my listings would sell.


If only my sellers would listen to me.


If only my buyers would make up their minds.


If only, if only, if only....


Buyers:


If only I had made an offer on THAT property.


If only sellers would be reasonable.


If only I could find the property that met my criteria.


If only, if only, if only..../


Sellers:


If only buyers would make realistic offers.


If only the prices of homes would go up.


If only buyers would appreciate what a wonderful property I have.


If only, if only, if only........

Remeber the First Time Homebuyer Tax Credit?

March 27, 2012


In 2009 and a portion of 2010, the government offered a a tax credit to first time homebuyers. The property purchased was required to be the principal residence of the purchaser. As long as the property remained the purchaser's principal residence, there was no requirement to repay the credit. However, if the property purchased with the tax credit ceased to be a principal residence before 36 months of ownership and residing in it, there is a requirement to repay the credit.


To report the payment of the tax credit, Form 5405 of the IRS will give instructions as to how to report the tax that comes due after a sale prior to 36 months of home ownership.


Selling the property, converting it to a rental, losing it in foreclosure are some of the ways the home will cease to be a principal residence.


If you received the tax credit, it is important that you understand the tax ramifications that a change in the use of the property can bring about.


Check with your tax advisor or the IRS to get the best advice.

Myths About Selling and Buying Real Estate

March 26, 2012




Tara-Nicholle Nelson, a writer for the Trulia website, had an interesting posting entitled "5 Real Estate Rules of Thumb: Fact or Fiction? It brought to mind conversations I have recently had with both buyers and sellers.

With sellers, there seems almost always the belief that they must list their property at a price that will allow them some bargaining room. They believe that buyers will always offer less than the listing price. (Just as an aside, any time that a belief has always or never, you can be pretty certain that it will not always or not never be correct. ) The fact is that today's buyers educate themselves via the Internet and are very well informed as to what is a reasonable price to pay for any given property. Most real estate agents have experienced buyers making offers right at a listed price when they have viewed comparable properties in the listed price range. It is amazing that a property that had no offers for the six weeks that it was listed, but two days after the price was significantly reduced, an offer came in at the new listed price. The question one might ask is "Why didn't the buyer just make a low offer?" The answer is "Who knows. They just didn't."


Sellers are not the only ones who hold beliefs that are not accurate. Buyers will tell their agent that they have been told to begin the offering process with an offer ten percent under the list price. Again, this probably is not the way to seriously make an offer. It is better to have the agent give the buyer a list of similar properties and for the buyer to make an offer based on the selling prices of these properties.

Basically, buying and selling real estate can be an emotional process. What a buyer offers and what a seller will accept can be influenced by desire and fear. Desire is how much the seller wishes to move on and the buyer finds that the house meets wants and needs. Fear abounds when the real estate market has suffered through a downturn. Fear right now has a greater effect on buyers than on sellers. Sellers have already lost value. The sellers only fear right now is that the market will improve and they will have sold too soon to take advantage of any increase in value.

It's Bicycle Classic Weekend

March 23, 2012


The Redlands Bicycle Classic rolled into Redlands Thursday. It will continue through Sunday afternoon with the final Criterium races in downtown Redlands. Saturday morning will begin with the annual Kiwanis pancake breakfast and the public races. It is a great time to enjoy a unique sporting event that brings cyclist from all over the world.


Saturday you can bring your family and your tricycles or bicycles and join the competition. Registration begins at 7 a.m. with the races beginning at 9.a.m.
The R.U.F.F. group's Ride through Redlands will begin at a.m. if you are just interested in a nice bicycle ride.


For the complete schedule you can go to www.redlandsclassic.com

Daffodil Days

March 22, 2012


It isn't just outside that Spring has arrived. Inside our CENTURY 21 Lois Lauer Realty office at 1998 Orange Tree Lane, the daffodils have blossomed. Every year our agents support the American Cancer Society's "Daffodil Days" by purchasing bunches of daffodils. When you consider that we have over eighty desks in this one large and open office, you can appreciate what an impact these bouquets of yellow daffodils have.


Our company has long had a culture of supporting charitable organizations. We take ten dollars from every side of every closed transaction and put it in a charity fund. The money is distributed to charities through a committee made up of our agents. In addition to this giving, the agents themselves pitch in when other giving opportunities are presented. "Daffodil Days" is just one of many. I do give the American Cancer Society credit for coming up with a gifting plan that so beautifies our office - even for a short time.

We Had a Reminder Yesterday....

March 21, 2012


As Southern Californians, we know that we live in earthquake country. As time passes, however, it is easy to forget that earthquakes do occur and that they occur suddenly and without warning. The 7.4 earthquake yesterday morning in Central Mexico once again reminded us that we could experience the shaking of the ground around us at any time.


We are fortunate that over the years building codes have made our homes less likely to come crashing down around us. the stuff inside those homes can tumble from shelves and slide across floors. Our utilities can be damaged and we may need to survive without them.


Time to check your preparedness. Do you have flashlights? Do you have a battery operated radio? Do you have a way to charge your cell phone when plugging it is won't work? Do the batteries in your flashlights and radios still function? Do you have a supply of water and food in a place where you can access them easily? Do you keep preparedness supplies in your vehicle?


It is not difficult to be prepared, but it is also easy to let your supplies get too old to be helpful in an emergency.


Make this a good time to renew your preparations. We have been fortunate for 17+ years. This is not the time to be complacent.

First Day of Spring

March 20, 2012




With the big storm over the weekend and our valley surrounded by snow topped mountains, it may be hard to believe that today is the first day of Spring. However, signs of Spring are definitely present.




We walk out into our parking lot and smell that wonderful scent of orange blossoms. We are very fortunate to have our office next to the San Bernardino County Museum as they have surrounded their site with orange groves. The scent of blossoming citrus is a real treat to us.




Trees are also welcoming Spring with the leaves of deciduous trees beginning to show fresh green sprouts.




Our weather is also typical of Springtime. Cool to cold evenings, but warm days as the sun rises for the Spring season.




Bicyclers are filling the streets as they, too, prepare for the Redlands Bicycle Classic, an annual Spring event.




It is a myth that Southern California dies not have seasons. We do. Our seasons just have a different character than those in more northern areas of the country. Actually, we sometimes experience all four seasons in one day. Freezing at night, warmer in the morning, hot in the afternoon and cool in the early evening. And none of this weather gets as extreme as the places who tout the beauty of their seasonal changes.

The Interest Rate Bonanza

March 19, 2012


I am in the process of cleaning out my files. I came across a chart listing VA interest rates since June of 1935, apparently the day VA loans were first being offered. This particular printout continues with the rates as they changed through the years from 1935 until 1992, the date of the chart. It is a fascinating history!


In June of 1935, the initial rate was 5.00%. In August of 1939, the rate dropped to 4.50% and remained there until April of 1950 when it dropped again to 4.25%. By 1956 the interest rate was back up to 5.00%. In October 1966 the rate rose to 6% and in January 1970, it rose to 8.50%. Until the past several years, the interest rate never returned to the initial 5.00%. It peaked in September 1981 at 17.00%.


Today the interest rate is 3.875% an historical low. While the chart I found references VA interest rates, FHA and convention rates are also averaging in the mid to high 3.00% range.


The difference between a 6.00% interest rate and a 3.875% interests rate is $1.29 per $1000 of loan amount. For a 6.00% interest rate for thirty years you pay $6.00 per $1000. For a 3.875% interest rate it will cost $4.71 per $1000.


If you are considering buying a property, it would seem that taking advantage of these favorable rates would be a wise decision.

Time to Be Blessed

March 16, 2012


These days we hear a great deal about "going green". However, tomorrow is the day that many folks enjoy the tradition of "wearing green". I am not really sure when it started, but the "wearin' of the green" has been around a long time - as has the celebration of St. Patrick's Day.


I am not aware of a parade here in the Inland Empire, but I feel certain there will be celebrations.


Smiley Library in Redlands is honoring their own patron saints, the Smiley twin brothers who gave so much. They are also honoring the 40th anniversary of the Archives and Special Collections Division of the A.K. Smiley Library.


Offering toasts or blessings is another tradition of St. Patrick's Day. I offer a blessing to all of you.


"May you always have walls for the winds,


a roof for the rain, tea beside the fire,


laughter to cheer you, those you love near you,


and all your heart might desire."


As a shameless plug: CENTURY 21 Lois Lauer Realty is ready, willing and able to help you find your walls and roof.

A Look at the Over $400,000 Market

March 15, 2012


Each month I try to check to see how our over $400,000 market is doing. I post the numbers so you can check for yourselves.


Banning/Beaumont.........Feb2012/0.......Jan2012/1.......Dec2011/0..........Feb2011/0


Bloomington.....................Feb2012/0.......Jan2012/0......Dec2011/0..........Feb2011/0


Colton................................Feb2012/0.......Jan2012/0......Dec2011/0..........Feb2011/0


Fontana.............................Feb2012/3.......Jan2012/1.......Dec2011/0..........Feb2011/2


Grand Terrace..................Feb2012/0.......Jan2012/0......Dec2011/0..........Feb2011/0


Highland...........................Feb2012/1.......Jan2012/1.......Dec2011/1...........Feb2011/2


Loma Linda......................Feb2012/0......Jan2012/1........Dec2011/1...........Feb2011/0


Mentone...........................Feb2012/0......Jan2012/0.......Dec2011/1............Feb2011/0


Moreno Valley.................Feb2012/0......Jan2012/0.......Dec2011/0...........Feb2011/0


Redlands...........................Feb2012/10....Jan2012/5.......Dec2011/4...........Feb2011/6


Rialto.................................Feb2012/0......Jan2012/0.......Dec2011/0..........Feb2011/0


Riverside...........................Feb2012/18....Jan2012/18.....Dec2011/18.........Feb2011/10


San Bernardino................Feb2012/0......Jan2012/1.......Dec2011/0...........Feb2011/0


Yucaipa/Calimesa...........Feb2012/3.......Jan2012/5.......Dec2011/2...........Feb2011/2


It is interesting to note that in February, the median price of homes sold was $400,000 in Riverside and Fontana in 2006 was $400,000. In February 2007, the median price in Riverside was $410,000 and in Fontana it was $415,000. By February 2008, Riverside's median price had dropped to $300,000 and Fontana's had dropped to $345,000.

Median Prices - November 2011-February 2012

March 13, 2012


I am posting the median prices of homes reported sold in the CRMLS. These numbers are simplistic as i take the total number of closed sales reported, divide by two and use the price of the property that falls at that halfway point as the median - the number where half the properties were sold for the same or less and half sold for the same or more. Frequently prices cluster around the median number.


Banning/Beaumont.........Feb/145,000......Jan/156,000......Dec/165,000......Nov/155,000


Bloomington.....................Feb/132,000......Jan/110,000......Dec/155,000......Nov/145,000


Colton................................Feb/121,500.......Jan/125,000......Dec/110,000......Nov/131.000


Fontana.............................Feb/210,000......Jan/210,200......Dec/210,000......Nov/200,000


Grand Terrace..................Feb/145,000......Jan/179,000.......Dec/175,000......Nov/189,500


Highland...........................Feb/145,000......Jan/160,000......Dec/150,000......Nov/170,000


Loma Linda......................Feb/185,000......Jan/130,000......Dec/198,000......Nov/192,000


Mentone...........................Feb/140,000......Jan/115/150.......Dec/180,000......Nov/120,000


Moreno Valley.................Feb/144,000......Jan/147,000.......Dec/155,000......Nov/150,000


Redlands..........................Feb/186,000......Jan/178,000.......Dec/190,000......Nov/189,000


Rialto................................Feb/165,000......Jan/163,000.......Dec/150,000......Nov/160,000


Riverside..........................Feb/180,000......Jan/195,000.......Dec/186,500......Nov/190,000


San Bernardino...............Feb/100,000......Jan/110,000.......Dec/103,500......Nov/108,000


Yucaipa/Calimesa..........Feb/160,000.......Jan/189,000......Dec/176,500.......Nov/180,000


There you have the numbers. We seem to still be bouncing along a bottom with several communities beginning to have some consistency in their medians. Fontana and Rialto seem to be steadying. No evidence of really sharp declines, but more signs that sales remain in the lower price ranges.

What's Influencing the Real Estate Market?

March 12, 2012


Since I read so much about the influence of distressed properties on current real estate sales, I thought I would check out the number of closed transactions that were either bank-owned or short sales. In the end, it seemed that checking the numbers for the closed transactions that were not "distressed" sales ended up giving a sharper picture. I obtained the data from transactions reported closed as "Standard" sales. The term "Standard" is being used to report sales that were not bank owned, short sales, and properties in foreclosure. My data depends on the accuracy of the data reported by the real estate agents involved in the transactions.


Banning/Beaumont.........Total/105......Standard/25......Ratio/.238


Bloomington.....................Total/25........Standard/6........Ratio/.240


Colton................................Total/42........Standard/15......Ratio/.357


Fontana.............................Total/190......Standard/56......Ratio/.295


Grand Terrace..................Total/8..........Standard/1.........Ratio/.125


Highland...........................Total/46........Standard/12.......Ratio/.261


Loma Linda......................Total/12........Standard/5.........Ratio/.417


Mentone...........................Total/16........Standard/5.........Ratio/.313


Moreno Valley.................Total/174......Standard/44.......Ratio/.253


Redlands...........................Total/55.......Standard/23.......Ratio/.418


Rialto.................................Total/85......Standard/31........Ratio/.364


Riverside...........................Total/364....Standard/133......Ratio/.365


San Bernardino................Total/133....Standard/40........Ratio/.301


Yucaipa/Calimesa............Total/57......Standard/24........Ratio/.368


Perhaps these numbers reflect the fact that we have such a low inventory of properties for sale. If home owners do not have to sell, they are not putting their properties on the market. What is on the market are the properties that have loans that exceed the market value or properties that have already gone back to the banks. At the moment, these properties are shaping the real estate market.

Inland Southern California Celebration of the Visual Arts

March 9, 2012


It opened yesterday and continues through Sunday afternoon. The 30th Annual La Quinta Arts Festival returns to the LA Quinta Civic Center bring artists and patrons from our region and beyond.


The art festival is a true community effort that is recognized as one of the finest in the U.S.


Not only is the La Quinta venue spectacular in itself, the quality of the art that it attracts is first class.


There is live entertainment and food vendors to add to the ambiance.


The single day admission is $12 at the gate or you can purchase a multi-day pass for $15. Children under 12 years of age are free.


The weather this weekend should be almost perfect for this great outdoors event.

Closed sales - February 2012 - 2003

March 8, 2012


As is my custom, here are the number of properties reported as sold thru the CRMLS for February 2012. I am posting the numbers for 2012 back to 2003.


Banning/Beaumont........2012/105.....2011/84.....2010/107.....2009/105.....2008/46


...........................................2007/54......2006/70.....2005/71.......2004/68.......2003/50


Bloomington...................2012/25.......2011/15......2010/24.......2009/23.......2008/4


..........................................2007/10.......2006/20.....2005/18......2004/16.......2003/23


Colton..............................2012/42.......2011/36......2010/51.......2009/52.......2008/21


.........................................2007/22.......2006/42.....2005/34.......2004/25.......2003/38


Fontana..........................2012/190......2011/177....2010/217......2009/293.....2008/80


........................................2007/92........2006/190...2005/202....2004/170......2003/175


Grand Terrrace.............2012/8..........2011/9........2010/10.......2009/5..........2008/4


........................................2007/6..........2006/10.....2005/7.........2004/11........2003/4


Highland.......................2012/46........2011/37.......2010/35......2009/47........2008/25


.......................................2007/24........2006/39......2005/56.....2004/45........2003/57


Loma Linda.................2012/12.........2011/12........2010/8.......2009/7..........2008/8


......................................2007/14........2006/10........2005/8......2004/10........2003/7


Mentone......................2012/16........2011/6...........2010/5.......2009/7..........2008/12


......................................2007/4.........2006/4..........2005/7.......2004/4..........2003/6


Moreno Valley...........2012/174......2011/159.......2010/236...2009/345......2008/140


.....................................2007/109.....2006/222......2005/187...2004/197......2003/192


Redlands....................2012/55........2011/44.........2010/43.....2009/38........2008/19


....................................2007/43........2006/50........2005/65....2004/39.........2003/58


Rialto.........................2012/85........2011/66.........2010/93.....2009/114........2008/21


...................................2007/50........2006/71.........2005/96.....2004/90........2003/83


Riverside..................2012/364......2011/257........2010/329...2009/391.......2008/147


...................................2007/229.....2006/333.......2005/280...2004/305......2003/301


San Bernardino.......2012/133......2011/141.........2010/209....2009/256......2008/78


...................................2007/103.....2006/177........2005/164....2004/198.......2003/185


Yucaipa/Calimesa...2012/51.......2011/41...........2010/45......2009/35.........2008/38


...................................2007/33......2006/39..........2010/47......2004/61.........2003/40


There you have it. It is interesting to note that in most of the communities, volume is quite consistent. The one notable exception was when volume dropped significantly in 2008. What these numbers seem to indicate is that the pool of prospective home buyers remains does not increase whether the market is booming or busting.

How Much Below the Listing Price Can a Buyer Offer?

March 7, 2012
Prospective buyers often ask their agent how low can they offer. The answer, perhaps, depends.
First, how much do you want the property? If you have been looking a long time and finally find a property that pretty well meets your needs and wants, it is wise to put in a really strong offer. You know that the seller would like to receive the listed price. Second, you have asked your agent to show you the selling prices of comparable properties. You may even have checked the property out on Zillow. This information should give you some idea as to the reasonableness of the listed price.
Thirdly, you could have your agent check the percentage of the listed price that successful sales have produced. I subscribe to a news report called Housing Pulse and it references the average sales to listing price ratio in ten regions of the U.S. The February update cited these percentages: REO damaged/97%; REO move in ready/99%; Short Sale/96%; Non Distressed/96%. Surprised? Many potential buyers have the idea that selling prices are 20% less than asking prices. This data indicates otherwise.
So back to the first criteria. How much would you like to own a particular property? Structure your offer accordingly.

Perhaps "Watson" Could Solve the Housing Dilemma

March 6, 2012


I heard on Bloomberg News this morning that IBM is putting their super computer "Watson" to business uses. Remember, "Watson" is the computer that went up against two past Jeopardy champions and won.


I wonder if the banks with so many underwater borrowers could have "Watson" programmed to figure out a solution. Put all the loans into the data bank, design the appropriate algorithms and BINGO, a strategy for making corrections is produced.


Of course, the mess that the financial community has gotten itself into may be a greater challenge than answering questions on the Jeopardy quiz show. However, the number of loans outstanding cannot be infinite and surely the financial institutions have the information.


We are told that because of the securitization of loans, the financial institutions are having some difficulty find the investor/s who hold the notes and who must agree to short sales, loan modification and any other changes to their investments.


I just suggest that perhaps this super computer can finally sort it all out.

Energy Efficiency and Resource Conservation

March 5, 2012


The Southern California Gas Company puts out a newsletter that has articles about ways to conserve energy. The recent edition had suggestions that might seem strange coming from a company that bills us for our home consumption of natural gas. Reading it made me realize how interconnected our water, electric and gas systems really are.


Two of their suggestions seemed more like suggestions that an electric utility might make. The first was reminding us that the best option for energy efficient lighting is replacing our 60 watt incandescent light bulbs with 12.5 watt compact fluorescent bulbs. These LED bulbs are being improved and the light that they produce is getting more like the light of incandescent bulbs.


The second suggestion that seems like it, too, is related to electricity use is to plug you electronics into a power strip. Electronics continue to draw power even when they are turned off. Using a power strip to totally turn the electricity off will save energy.


The third suggestion had to do with our use of water when we take showers. Replacing a typical showerhead with the commonly available "water-saving" showerheads may not actually save water. There are now better devices that will cut your water usage. These new showerheads not only cut water consumption, but the also cut back on the amount of water needed to he heated by your hot water tank.


If you visit EFI.s online store, and if you are a SoCal Gas customer, you will find WaterSense rebates on qualified showerheads.


Energy efficiency and water conservation are in the forefront of California's economy.

A Celebration of "Critters"

March 2, 2012


This Saturday, March 3 at the San Bernardino County Museum, visitors will enjoy special activities with a huge variety of critters. It will be an opportunity to experience live animals and learn about the various animal rescue groups, the therapy and assistance dogs, and ordinary farm animals.


The event begins at 10 a.m. and will continue until the museum closes at 5 p.m. Most of the animal activities are included with the purchase of Museum admission, but there may be some that will require an additional charge.


The weather on Saturday is predicted to be a perfect Southern California Spring day.


The San Bernardino County Museum is located at 2024 Orange Tree Lane. General admission is $8; $6 military or senior; $5 student and $4 children ages 5 to12 years; children under 5 are free.


For more information 909-307-2669, 2st229 or http://www.sbcountymuseum.org/

Listings, Pendings, Back-ups - March 1, 2012

March 1, 2012


The ratios between active listings and properties that have accepted offers (pendings and back-ups) have reached new highs. Active listings have dropped as offers have been accepted. As of today, we are at low point in the number of properties still available for sale. You can check the numbers for yourself. I will put the March 1, 2012 and then the March 1 2011 number.


Banning/Beaumon.....List/373/646.......Pend/211/202......Back-up/132/65.......Ratio/.920/.413


Bloomington................List/40/73...........Pend/50/60..........Back-up/24/13.........Ratio/1.850/1.000


Colton...........................List/79/144..........Pend/96/81..........Back-up/48/34........Ratio/1.823/.799


Fontana........................List/493/856.......Pend/446/468.....Back-up/225/155.....Ratio/1.361/.728


Grand Terrace.............List/33/29............Pend/22/20.........Back-up/6/3..............Ratio/.848/.793


Highland......................List/143/200.......Pend/107/107......Back-up/60/38.........Ratio/1.168/.700


Loma Linda.................List/33/56............Pend/32/32.........Back-up/19/8............Ratio/1.545/.714


Mentone......................List/18/34............Pend/20/12..........Back-up/7/8..............Ratio/1.50/.588


Moreno Valley............List/546/970.......Pend/460/466.....Back-up/249/159.....Ratio/1.299/.644


Redlands......................List/195/295........Pend/110/98........Back-up/76/51..........Ratio/.954/.505


Rialto...........................List/259/365.......Pend/214/233......Back-up/83/71..........Ratio/1.147/.833


Riverside.....................List/960/1506.....Pend/733/659.....Back-up/426/282.....Ratio/1.207/.625


San Bernardino..........List/535/841.......Pend/395/416......Back-up/145/100......Ratio/1.009/.614


Yucaipa/Calimesa......List/169/257........Pend/100/92........Back-up/96/62..........Ratio/1.160/.599