Real Estate News

Obtaining a Loan in Today's Real Estate Environment

2012-01-31T08:57:00.000-08:00

January 31, 2012

When chatting with folks about the current real estate market, I am frequently queried about the difficulty in obtaining a loan to purchase a property. Questions asked are: Are lenders making loans? Do I have to put 20 percent down? Less often do folks ask about what their credit score needs to be.

First, there is money available for loans and lenders are making loans. Buyers are still using the FHA insured loans because they require only a 3.5 percent down payment. Conventional loans may require 20 percent down. The down payment on a conventional loan will depend on the lender. In obtaining any kind of loan, the borrower's creditworthiness is crucial.

Credit, income and assets are all examined. The lender will want to know that a prospective borrower has enough money in the bank to close escrow. These funds must be in an institutional account, not in a safe at the potential borrower's residence. Monetary gifts from relatives may be O.K. but they, too, will have to be documented.

Income is a big factor. Most lenders now require two years of tax returns from every loan applicant. You will probably need 30 days of pay stubs so don't throw them away.

Credit needs to show a minimum of 1 620 FICO score for most lenders to consider you a viable customer for a loan. There are sources where folks can obtain a copies of their credit reports. It is often useful for a prospective homebuyer to get a copy and to know how the credit looks.

In today's lending environment, there are more hoops for a potential borrower to go through but there are good loans available and the interest rates are at all time lows.

What is a Supplemental Tax?

2012-01-30T09:10:00.000-08:00

January 30, 2012

In 1983, then Governor George Deukmejian singed the Supplemental Real Property Tax Law.

This was a follow up for real property taxes after Proposition 13 was passed. As usual, the state felt that they were missing income when real property was sold or when permits showed that the real property was being improved.

As you know, Proposition 13 fixed the real property tax assessment at the purchase price or at the value on February 28, 1975. It allowed for a 2% increase per year. As property was sold, the assessed value became the selling price. However, according to California law the assessed value changes as of date of change of ownership. Depending on when the change of ownership occurred, the change in the assessed value for the computation of real property taxes might not be done until the beginning of a new tax year.

The Supplemental Real Property Tax Law filled the gap by permitting the taxes to be computed immediately upon change of ownership with the new owner receiving a supplemental tax bill. This bill may often have a different due date that the traditional November 1 (December 10) or February 1 (April 10).

Often homeowners do not understand this bill. Sometimes they fail to pay it and like any real property taxes it can accumulate late penalties.

Any time a homeowner receives a bill from the tax collector, they should check it out. It may or may not be due and payable. It could also be for a former owner as the Assessor's office is often very late at getting these bills out.

It is good policy to always check out communications received from governmental entities. Often your professional real estate agent can answer questions or direct you to the appropriate source.

So You Want to Modify Your Loan

2012-01-27T08:47:00.000-08:00

January 27, 2012

This weekend, today through Sunday from 8 a.m. to 8 p.m. the Ontario Convention Center is hosting the Neighborhood Assistance Corporation of America's American Dream Tour. The organization is a nonprofit that claims it can get the job of loan modifications done in a day. WOW, what a concept!

According to a press release, there will be dozens of employees from Bank of American, Wells Fargo, J.P. Morgan Chase and other loan servicers to meet with the folks who arrive to seek a loan modification . Bruce Marks, is the CEO of the organization and he predicts that 55 percent of attendees will be able to reach some type of mortgage solution, such as a lower interest rate, a forbearance agreement or even principal reduction.

The event is free to attend. However there may be membership fees required for some services.

For information http://www.naca.com/

Let's Join the Investors

2012-01-25T09:11:00.000-08:00

January 25, 2012

I recently read an article that foreign investors have been looking at the U.S. real estate market as a "stable place" to invest. As the European markets teeter on the edge of the euro crisis, these international investors have been turning to the U.S. housing market.

NAR's 2011 Profile of International Home Buying Activity shows foreign households bought $82 billion dollars worth of residential real estate last year, up from $66 billion in 2010.

Real estate is a long term investment. Historically it has been the source of wealth for many investors as well as many folks who purchased homes for the purpose of living in them for a long time. In recent times, home buyers seemed less likely to stay in a property long enough for it to appreciate over time.
What is a long term investment that these foreign buyers are considering? Five years, ten years?

If buying now is such a good deal that these foreign investors are putting their money in residential real estate, it may be a lesson for potential home buyers that now is the time to be serious about buying. (It does begin to look as if buyers are getting that message as we are seeing more folks at open houses and more folks writing offers.)

Update Your Home in 2012

2012-01-24T08:57:00.000-08:00

January 24, 2012

As you set goals for 2012, add some goals for improving your home. Some improvements are really simple and not very costly. Others are more expensive, but are beneficial in the long run.

Let's start with the new push for energy saving devices. You do have some time as the new state regulations are not effective until January 1, 2017. However, if you do a remodel after January 1, 2014, the water-conserving fixtures must be a condition of permit approval. So why not set a personal timeline to change out your plumbing fixtures? Saving water also saves on your water bill. Low flow faucets and low flush toilets have been available for some time. Their design has also improved. Some areas of Southern California already have the installation of these fixtures as part of the sale process. Get a head start; begin the change out now.

Another improvement that can be easily accomplished is the changing of hardware on doors and cupboards. Visit some model homes or hardware stores and checkout all the new styles. Just new hardware on kitchen cupboards can make a big difference in the look of the kitchen.

Lighting styles can also update a look and make a room brighter.

Then there is always paint. Check out the newer colors, but remember that white is always an acceptable option.

You know your home and can probably set you goals based on what would make the most sense for your lifestyle.

Time to Check Your Roof

2012-01-23T07:58:00.000-08:00

January 23, 2012

It is predicted that we will have rain today but that it will clear up later in the week. If the weatherman is correct, this week will be a good time to to a visual checking of your roof. A leaking roof, if not attended to, can cause future problems such as dry rot in the eaves and in the under wood surface. If the leak really intrudes, your interior ceilings and walls may show stains.

We have so much great, sunny days that it is easy to forget that our roofs do age. Even cement tile roofs can leak if the roof valleys get block with debris and force the water under the tiles. Flat roofs and roofs with very little slope can be especially vulnerable as water can puddle on the surface.

It is a good idea to have a professional roofer do a check. It would probably only cost $75 to $150 for the inspection and it could save you from future problems.

Just as doing routine maintenance on your car, routine maintenance of the components of your home can save you headaches down the road.

Something Special This Weekend

2012-01-20T08:34:00.000-08:00

January 20, 2012

For all art lovers, this weekend the William E. Leonard Art Collection of the National Orange Show will be on exhibit in its entirety. I thank Sun Newspaper columnist for including this information in his column this morning. Mr. Weeks noted that in 2001, Dr. Ernie Garcia , former dean of the College of Education at Cal State San Bernardino undertook a ten year effort to reassemble and refurbish the art collection.

Beginning in 1949, the national Orange Show began the collection with an All California Juried Competition. This collection is a historical showing of many artists who continued their careers and gained recognition throughout the United States. Since 1970, the collection was largely ignored and it required a great deal of tenacity to locate and reassemble the pieces.

The National Orange Show Gallery is on the northwest of the administration building at the National Orange Show Events Center, 689 S. E Street in San Bernardino.

The grand opening hours are 10:30 am to 6 p.m. on Saturday and noon to 5 p.m. on Sunday. Admission is free.

From the C.A.R. Newsline

2012-01-19T08:31:00.000-08:00

January 19, 2012

The California Association of Realtors sends out an e-newsletter every week that updates members on a variety of issues. Yesterday's e-newsletter had a section entitled "Tip of the Week: Unexpected IRS refund". I thought it was worth quoting.

"If you receive an 7unsolicited email that appears to be from the IRS requesting that you file a "tax refund request", do not fall victim to this identity theft scheme.

Numerous people are receiving unsolicited email informing them that a $9,390.55 IRS tax refund is due to them if they complete a tax refund request form. The email code will be forged to appear as if it originated from a trusted source, usually the IRS or an IRS tax preparer, but viewing the "message header" or "message source" will reveal its origin to be something else, and the link will not lead to a trusted domain, but one controlled by the identity theft criminals.

If you file a tax return and a refund is due, you will automatically receive your refund. You will never be contacted by the IRS, and there is no tax refund request form. Never disclose personal information to any unsolicited inquiry, as compelling as the story may be."

If you have questions or concerns about any IRS tax refund you may have due, you should access the official IRS web site. http://www.irs.gov/

Sorry folks, no $9,390.55 refund.

Curb Appeal - Garage Doors

2012-01-18T08:03:00.000-08:00

January 18, 2012

If you are tuned into your car radio you hear a lot of ads - restaurants, loans, and of late, garage doors.

Vendors of garage doors seem to be offering sales to start the new year. Garage doors come in many styles and in more colors than just the basic white and off-white. They have become an attractive addition to a homes curb appeal. The lift-up garage doors of the 1950s through the 1970s have gone out of style. No more do garage doors have those huge springs that if they got too old would snap and sometimes damage any contents in your garage.

Once electric garage door openers became a common installation, the roll up doors also became more desirable. Buyers consider these new roll up doors a definite plus for any home.

It is now mandatory that electric garage door openers have sensors that cause the door to stop descending and automatically reverse if the door touches anything. No longer to objects or persons get squelched by a descending door. Also, no longer does the door get crunched when it encounters a sold body.

A new garage door and a new opener are definitely worth the investment which should generally be under $600. If you google "garage doors" you can find where your local dealers are and what kind of incentives they might be offering.

The Time To Sell Is NOW!

2012-01-17T08:51:00.001-08:00

January 17, 2012

Two weeks into 2012 and the real estate market is moving! Historically, January and February are excellent months for real estate activity. Buyers have decided it is time to purchase a home. With interest rates lower than they have been for more than fifty years and FHA loans with only a 3.5% down payment requirement, the Gen Xers are out in full force. Unfortunately, there is no "glut" of homes on the market in our area. Our "for sale" inventory is low and buyers do not have much of a selection. They wait hungrily for new listings to appear and all of a sudden, agents are seeing multiple offers on those new listings. WOW!!!

On the other side of a real estate market, namely the sellers' side, sellers are still holding back. Some because they are still upside down, owing more than a possible selling price. Some because of a hope that if they wait a bit longer, the price of homes will go back up.

Homeowners who have been considering putting their homes up for sale this year should do it now. Why? Because there is a plentiful supply of prospective buyers with lender pre approval letters in hand. Another possible reason is that the news media keeps telling us that lenders will be putting "glut" of foreclosed properties on the market by mid year. Of course, we have been told this for the past several years, but right now, the low inventory is definitely advantageous if you want to sell.

Sellers, Who Will Be Buying Your Home?

2012-01-16T09:40:00.000-08:00

January 16, 2012

A quotation from Bernice Ross, a writer for Inman News, cited these statistics: "You can no longer ignore the fact that 60% of today's buyers were born after 1964. In fact, 54% of first time buyers are in the 25-to-34 age group."

The percentages are certainly interesting and illuminate a target market for real estate sales. It is my guess that even in other times, the age group for first time home buyers was pretty much the same.

As a seller, noting that 60% of home buyers were born after 1964, raises the awareness that these buyers came to adulthood in an age of huge technological advances. They use the Internet to search data on every subject including houses. Today, it is possible that buyers have already zoomed into your neighborhood on Google Maps or some other satellite picture. They can check a variety of sites that will give them estimated values for your property. These potential buyers have become very knowledgeable by the time that they call a real estate agent to set an appointment to view the property. Today's buyers are serious when they make the appointment.

It might be wise for sellers to do some of the same Internet searching to understand what buyers are learning.

Calling all Train Enthusiasts

2012-01-12T11:08:00.001-08:00

January 13, 2012

One of the most loved events of the Inland Empire is "Train Days" at the San Bernardino County Museum. It will occur this weekend, Saturday and Sunday from 9 a.m. to 5 p.m.

Model train owners will set up their layouts, their artifacts and hands-on activities for all ages.

Most Train Days activities are all included in the regular admission to the museum. Tickets will be sold for the miniature train rides set up in the museum's courtyard.

The displays of model train layouts will show how much design and detail goes into their creation.

Also, just a reminder that the Museum will be open on Monday and some of the train layouts will still be there.

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

How Many Closed Transactions Over $400,000?

2012-01-12T09:40:00.000-08:00

January 12, 2012
Here are the last of the numbers that I have been tracking as I follow our Inland Southern California real estate market. Back in 2006 several of the fourteen communities that I follow had median prices of $400,000 plus. Now median prices are mostly in the $200,000 range with very few single family home sales with a $400,000 or better reported selling price. Just for the record, here are the numbers for the twelve months of 2011.
Banning/Beaumont..............Jan/0......Feb/0......Mar/0......Apr/1......May/0......June/0
................................................July/1......Aug/1......Sept/0......Oct/0......Nov/0.......Dec/0
Bloomington..........................Jan/0.....Feb/0.......Mar/0.....Apr/0......May/0......June/0
................................................July/0.....Aug/0......Sept/0.....Oct/0.......Nov/0.......Dec/0
Colton....................................Jan/0......Feb/0......Mar/0......Apr/0.......May/0......June/0
...............................................July/0......Aug/1.....Sept/0......Oct/0........Nov/1........Dec/0
Fontana.................................Jan/3......Feb/2......Mar/4......Apr/3........May/0......June/4
...............................................July/3......Aug/1.....Sept/5......Oct/3.........Nov/0......Dec/0
Grand Terrace......................Jan/0......Feb/0.....Mar/0......Apr/0.........May/0.....June/0
...............................................July/0......Aug/0....Sept/0......Oct/1..........Nov/0......Dec/0
Highland...............................Jan/0......Feb/2.....Mar/0......Apr/0.........May/0......June/1
...............................................July/2......Aug/1....Sept/2......Oct/0..........Nov/0.......Dec/1
Loma Linda..........................Jan/0.......Feb/0....Mar/0......Apr/1..........May/0......June/0
..............................................July/0.......Aug/0...Sept/0......Oct/0..........Nov/1........Dec/4
Mentone...............................Jan/0.......Feb/0....Mar/0......Apr/0..........May/0......June/0
..............................................July/0.......Aug/0...Sept/0......Oct/0..........Nov/0........Dec/0
Moreno Valley.....................Jan/0.......Feb/0....Mar/0......Apr/0..........May/0......June/1
..............................................July/0.......Aug/0...Sept/0......Oct/0..........Nov/0........Dec/0
Redlands..............................Jan/7........Feb/6....Mar/5......Apr/7..........May/8.......June/8
..............................................July/4.......Aug/11...Sept/3.....Oct/6..........Nov/4........Dec/2
Rialto....................................Jan/0.......Feb/0.....Mar/0.....Apr/0..........May/0......June/0
..............................................July/0.......Aug/0....Sept/0.....Oct/0..........Nov/0........Dec/0
Riverside..............................Jan/11......Feb/10...Mar/15....Apr/23........May/18....June/25
..............................................July/21.....Aug/27...Sept/25...Oct/16........Nov/14......Dec/18
San Bernardino...................Jan/0.......Feb/0.....Mar/1......Apr/0..........May/0......June/1
..............................................July/0.......Aug/0....Sept/0.....Oct/2...........Nov/2.......Dec/0
Yucaipa/Calimesa...............Jan/2.......Feb/2.....Mar/3.....Apr/6...........May/5......June/4
..............................................July/1........Aug/6...Sept/2.....Oct/1.............Nov/1.......Dec/0
As you can note, Riverside continues to have transactions in the $400,000 range. The other two communities are Redlands and the Yucaipa/Calimesa markets. For the remainder of the area, there are zero to one or two transactions in the higher end of their markets. However, sales did improve over 2009 and 2010.

Median Home Prices 2011

2012-01-10T14:52:00.000-08:00

January 11, 2012

The year 2011 is now history. What did median home prices do each month? Here are the numbers. You will need to add three zeros to the numbers.

Banning/Beaumont........Jan/175......Feb/155......Mar/155......Apr/155......May/148......June/165

...........................................July/161.....Aug/165......Sept/151......Oct/159......Nov/155.......Dec/233

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

...........................................July/155....Aug/140......Sept/150.....Oct/145......Nov/145........Dec/145

Colton...............................Jan/93.......Feb/122......Mar/149......Apr/110......May/117........June/130

..........................................July/110.....Aug/120.....Sept/116.......Oct/95........Nov/131........Dec/115

Fontana...........................Jan/194......Feb/195......Mar/211.......Apr/200.....May/185.......June/215

.........................................July/205.....Aug/200....Sept/200......Oct/210......Nov/200.......Dec/244

Grand Terrace................Jan/203......Feb/195.....Mar/200......Apr/205.....May/180.......June/165

.........................................July/220.....Aug/215.....Sept/222......Oct/200.....Nov/190........Dec/192

Highland.........................Jan/162......Feb/180.....Mar/155.......Apr/165.....May/185.......June/182

.........................................July/163.....Aug/200....Sept/165.......Oct/170......Nov/170........Dec/165

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

.........................................July/220....Aug/250....Sept/210.......Oct/195......Nov/192.........Dec/210

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

.........................................July/144.....Aug/159....Sept/93.........Oct/80/150..Nov/120......Dec/128

Moreno Valley...............Jan/155......Feb/154....Mar/148.......Apr/148.......May/148.......June/153

.........................................July/157.....Aug/159....Sept/155.......Oct/152.......Nov/150........Dec/152

Redlands.........................Jan/218.....Feb/203....Mar/205.......Apr/202......May/220.......June/225

........................................July/205.....Aug/215....Sept/196.......Oct/189.......Nov/190........Dec/206

Rialto..............................Jan/160......Feb/165....Mar/152.......Apr/160.......May/164.......June/158

........................................July/165......Aug/170...Sept/161.......Oct/160........Nov/150.......Dec/152

Riverside........................Jan/180......Feb/195....Mar/187......Apr/160........May/190......June/189

........................................July/190......Aug/200...Sept/195.....Oct/190........Nov/187........Dec/187

San Bernardino............Jan/122.......Feb/105....Mar/95........Apr/109.......May/105.......June/99

.......................................July/123......Aug/100....Sept/104.....Oct/108.......Nov/104.........Dec/102

Yucaipa/Calimesa.......Jan/210.......Feb/190.....Mar/181.....Apr/198.......May/180........June/188

.......................................July/195......Aug/212.....Sept/165.....Oct/180......Nov/177..........Dec/170

Please remember that these numbers are not arrived at by any recognized calculation. They simply reflect the selling price of the property at the halfway point of what has been reported sold through the CRMLS. They only tell us that half of the homes sold were sold for more or for less.

Closed Sales - January thru December 2011

2012-01-09T13:01:00.000-08:00

January 10, 2012

As promised in yesterday's post, here are the numbers for the closed sales for the 2011 year.

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

............................................July/152....Aug/114.....Sept/134......Oct/126.......Nov/110......Dec/119

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

............................................July/25......Aug/18......Sept/20.......Oct/27..........Nov/23........Dec/19

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

...........................................July/49.......Aug/50......Sept/41.......Oct/44...........Nov/45........Dec/36

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

..........................................July/228......Aug/239....Sept/242.....Oct/227........Nov/232......Dec/244

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

..........................................July/10.........Aug/11......Sept/11........Oct/8............Nov/5...........Dec/9

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

..........................................July/55.........Aug/62.....Sept/66.......Oct/48..........Nov/63.........Dec/55

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

..........................................July/14.........Aug/15......Sept/13.......Oct/26...........Nov/11..........Dec/19

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

..........................................July/11.........Aug/6........Sept/11.......Oct/8.............Nov/14...........Dec/13

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

..........................................July/249......Aug/253....Sept/236....Oct/198........Nov/220..........Dec/225

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

..........................................July/56........Aug/78.......Sept/65......Oct/65..........Nov/49............Dec/56

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

..........................................July/111........Aug/121.....Sept/109....Oct/100........Nov/83...........Dec/102

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

..........................................July/371.......Aug/451.....Sept/411.....Oct/344........Nov/343.........Dec/397

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

..........................................July/197.......Aug/192.....Sept/182.....Oct/180........Nov/179..........Dec/215

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

..........................................July/49.........Aug/76......Sept/67........Oct/62..........Nov/59............Dec/70

Just a reminder. In general properties go into escrow forty-five to sixty days before they close.

For instance: the January and February numbers represent activity in the market in November and December.

December Closed Sales - 2011-2003

2012-01-09T10:07:00.000-08:00

January 9, 2012

For those of you who have an interest in the sales reported through the CRMLS for the months of December for the past nine years. The volume reflects more consistency than will be shown when I post the median prices for the years 2011-2003. With the exception of the year 2007, the volume does not change significantly.

Banning/Beaumont...........2011/119......2010/132......2009/134......2008/134......2007/37

..............................................2006/62.......2005/99.......2004/70........2003/66

Bloomington......................2011/19.........2010/23.......2009/34........2008/38.......2007/8

.............................................2006/25........2005/27.......2004/30........2003/26

Colton.................................2011/36.........2010/48.......2009/53........2008/63.......2007/6

.............................................2006/29........2005/51.......2004/54........2003/57

Fontana..............................2011/244.......2010/257.....2009/284......2008/388....2007/75

............................................2006/182.......2005/241.....2004/243......2003/250

Grand Terrace...................2011/9............2010/16.......2009/9..........2008/6.........2007/3

............................................2006/7............2005/16.......2004/9..........2003/6

Highland...........................2011/55...........2010/61.......2009/49........2008/62......2007/21

...........................................2006/39..........2005/70.......2004/59........2003/61

Loma Linda......................2011/19...........2010/15........2009/19........2008/17.......2007/5

...........................................2006/8............2005/4.........2004/14........2003/13

Mentone...........................2011/13...........2010/7..........2009/3..........2008/3........2007/2

...........................................2006/1............2005/12........2004/4..........2003/13

Moreno Valley.................2011/225........2010/291......2009/341......2008/506....2007/102

...........................................2006/167........2005/306.....2004/286.....2003/276

Redlands..........................2011/56...........2010/61........2009/59........2008/56......2007/32

..........................................2006/45..........2005/70........2004/91........2003/91

Rialto...............................2011/102.........2010/102......2009/110......2008/141.....2007/42

.........................................2006/72...........2005/130......2004/116......2003/117

Riverside........................2011/397..........2010/458......2009/474.....2008/498.....2007/153

........................................2006/262..........2005/470......2004/376.....2003/365

San Bernardino.............2011/215..........2010/204......2009/283.....2008/276......2007/73

.........................................2006/152.........2005/271......2004/246.....2003/276

Yucaipa/Calimesa.........2011/70............2010/60.......2009/58........2008/54........2007/24

.........................................2006/50...........2005/59.......2004/67........2003/58

Tomorrow I will post the numbers for the twelve months of 2011. You will be able to judge how this real estate cycle is progressing.

A Charles Dicken's Weekend

2012-01-06T08:25:00.000-08:00

January 6, 2012

This weekend Riverside, California will be celebrating the 200th anniversary of the birth of writer Charles Dickens. There will over 150 costumed performers portraying the characters from Dickens' novels. Musical acts, a marketplace with all sorts of "Victorian" items. There will be a workshop where you can create a Victorian hat with your choice of fabrics, flowers, feathers or whatever catches your fancy. Cost can be $5 to $15. Books, music, original art, original apparel, and lots of unusual items.

At 6 p.m. this evening at the Riverside Convention Center, 3443 Orange Street, for the price of $75 you can experience the Pickwick Pub Fundraiser.

Tomorrow is the official opening of the Festival at the Convention Center. Entrance to the Festival is Free. At 9:45 a.m., the Gordon Highlanders will hoist the Union Jack and at 10 a.m. Queen Victoria, Charles Dickens and Mr. Pickwick will open the Festival.

For detailed information on the web, http://www.dickensfest.com/

Don't Throw Away Those Beautiful Poinsettias

2012-01-05T08:54:00.000-08:00

January 5, 2012

It always seems a shame to throw away those beautiful poinsettia plants after the holidays. They are really capable of surviving as an outdoor plant in our Southern California climate. However, since they were probably cultivated in a greenhouse environment, they need a little special attention if they are to succeed as a garden plant.

If you want to try to nurture your holiday poinsettias so that they will survive and bloom next year, here are some tips.

1. Put your potted plant outdoors in the pot when temperatures are 55 degrees Fahrenheit or above. The plant needs to get accustomed to the outdoors.

2. Pick a spot near a southern wall.

3. Dig a hole slightly larger than the pot and put a layer of rich soil that will drain well. Fill the hole up to one half inch of the main stalk of the plant.

4. Water well and often to be sure that the plant roots do not get dry.

5. Do not fertilize until at least March. Then use an all purpose garden fertilizer.

6. Cut the plant to about eight inches so that it will bush out.

7. Once October arrives, you will need to make sure it has dark nights with no artificial lighting.

The first four steps are the beginning. If you truly want to accept the challenge of having it bloom for the 2012 holidays, I suggest you google "Planting Poinsettias" for detailed instructions.

Seeing these bright red bushes in gardens is a beautiful sight!

Listing, Pending, Back-up January 1, 2012

2012-01-03T08:14:00.000-08:00

January 3, 2012

Here is a posting of the numbers for active listings, pending sales and those reported in the "back-up" category. These are the numbers taken from the CRMLS on January 1, 2012. When compared to January 1, 2011, they reflect a significant drop in the number of active listings. The number of pendings and back-ups has not changed as much, but the drop in the active listings has made the ratios of those in escrow to actives become higher.

For those of you who follow the numbers, here they are for 2012.

Banning/Beaumont..............List/437.......Pend/169........Back-up/104.......Ratio/.625

Bloomington..........................List/59.........Pend/43..........Back-up/18.........Ratio/1.034

Colton.....................................List/92.........Pend/85..........Back-up/35.........Ratio/1.304

Fontana..................................List/552.......Pend/429........Back-up/205.......Ratio/1.169

Grand Terrace.......................List/36.........Pend/21...........Back-up/5...........Ratio/.722

Highland................................List/134.......Pend/100........Back-up/52.........Ratio/1.134

Loma Linda...........................List/34.........Pend/30..........Back-up/16.........Ratio/1.353

Mentone................................List/29.........Pend/17...........Back-up/7...........Ratio/.828

Moreno Valley......................List/667.......Pend/415........Back-up/196.......Ratio/.916

Redlands...............................List/231.......Pend/103........Back-up/41..........Ratio/.623

Rialto.....................................List/293.......Pend/187........Back-up/72.........Ratio/.884

Riverside...............................List/1095.....Pend/677........Back-up/350......Ratio/.920

San Bernardino....................List/614.......Pend/361........Back-up/106.......Ratio/.761

Yucaipa/Calimesa...............List/203.......Pend/88.........Back-up/57..........Ratio/.714

The total number of active listings in 2012 in the fourteen communities that I tract is 4476 compared to 5824 in 2011.

"Just Imagine..."

2012-01-02T10:59:00.000-08:00

January 2, 2012

I just finished watching the 2012 Rose Parade and really enjoyed the many interpretations of this years theme "Just Imagine". I thought it might be interesting to "Just Imagine" some developments that could make 2012 a much better year for buyers, sellers and real estate professionals - maybe even for lenders and investors.

Just imagine that the financial world push the "reset" button and adjusted mortgages to fit the current decline in value of most homes. Loans for the homeowners who wish to stay in their homes could be modified to meet this current value. Sellers who wanted to sell, but who owe more than the mortgage could "short sell" in sixty to ninety days. Buyers could know that they could purchase a "short sale" property and not wait months and months to know if the lender would accept their offer.

Just imagine that after three plus years, lenders finally developed a workable process for dealing with mortgages that no longer produce income for the lender/investor and begin to receive regular payments on the newly adjusted mortgage balance.

Just imagine that rather than giving lending institutions monies to use as they see fit, the institutions apply the funds to help all their "underwater" borrowers.

Just imagine that the year 2012 will see folks regaining a sense of responsibility that translate into a stable economic environment.

I could imagine much. I hope some of my imaginings come to fruition.

The Weather Outside is ....

2011-12-30T09:33:00.000-08:00

December 30, 2011

"The weather outside is frightful..." is the opening line of a popular holiday song. Our Inland Southern California weather is anything but frightful. It has been absolutely delightful - warm and sunny in the day times and just chilly enough to have a fire in the fireplace if that gets you in the holiday spirit.

You can go to Riverside and rent a pair of ice skates and take a spin around the rink out side the Mission Inn. You can take a scenic drive up the mountains and do a bit of skiing. You could, if you really are into rubbing our weather into those folks in the mid west and the east coast, take a dip in your pool or spa.

We have been blessed in 2011 with some pretty great weather.

As you spend the next few days preparing for a new year and welcoming 2012, celebrate sensibly, make aspirational resolutions and enjoy friends and family.

Some "Fast Facts" from the California Association of Realtotrs

2011-12-29T09:20:00.000-08:00

December 29, 2011

Each week the California Association of Realtors sends a newsletter which has many interesting articles including a section called "Fast Facts". This section gives a short synopsis of median prices, affordability index and mortgage rates in California. This blog has mostly focused on our Inland Empire region, but as 2011 draws to a close, I thought I would share the latest "Fast Facts".

Fast FactsCalif. median home price: November 2011: $280,960 (Source: C.A.R.)Calif. highest median home price by region/county November 2011: Marin: $736,410 (Source: C.A.R.)Calif. lowest median home price by region/county November 2011: Madera: $103,330 (Source: C.A.R.)Calif. Pending Home Sales Index: November 2011: 109.8, an increase of 11 percent compared with the prior year. Calif. Traditional Housing Affordability Index: Third quarter 2011: 52 percent (Source: C.A.R.)Mortgage rates: Week ending 12/22/2011 30-yr. fixed: 3.91% fees/points: 0.7% 15-yr. fixed: 3.21 fees/points: 0.8% 1-yr. adjustable: 2.77% Fees/points: 0.6% (Source: Freddie Mac)

Count Up to 2012

2011-12-28T08:08:00.000-08:00

December 28, 2011

I am calling this post "Count Up" rather than "Count down" because as we go forward into the year 2012, there are signs that the economy in the Inland Empire is looking "up".

According to Beacon Economics's December issue of "The Regional Report", our labor market is trending upward and the Beacon forecast is for a rather steep increase from now and continuing to the 4th quarter of 2016.

The other positive trend that Beacon cites is the increase in taxable sales. Again, they are predicting that there will be continuing increases in the number of taxable sales during the next five years.

I am witnessing increased truck traffic in and out of the warehouses that populate our region. While truck traffic can be an annoyance, it is a good sign that goods are moving again and empty spaces are being occupied by active businesses.

Housing remains a bit of a stagnant section of the economy, but it seems likely that it, too, will begin to trend upward - if not in price increases, certainly in sales volume. If lender/investors finally put into practice efficient short sale processes these short sales will finally close and the upside down inventory will decrease.

So.....Count up to 2012.

Our Growing Place in Energy Research

2011-12-27T08:32:00.000-08:00

December 27, 2011

On November 9, 2011, the University of California, Riverside's Bourns College of Engineering named a building after a Chinese battery inventor who has provided more than $13 million in support to the campus in the past year for clean energy research.

"Engineering Building II will now be known as Winston Chung Hall. Winston Chung, the founder, chairman and CEO of Winston Chung Energy in China, donated a 1.1 megawatt bank of rare earth lithium-ion batteries that were developed by his company and are valued at $2.5 million. The batteries will power the first floor of the building that bears his name.

The system, the first of its kind in the United States, has the potential to reduce the electric bill for a comparable building by $22,000 per year. Eventually the system, will power the entire four-story, 90,000 square foot building. Excess power will be returned to the grid operated by Riverside Public Utilities.

In addition to the batteries, Winston Chung is funding six grants for faculty at the Bourns College of Engineering.

Sometimes the Inland Empire is looked down on as only cheap dirt and cheap labor, but there is much going on that is making for significant changes and opportunities in our region.

Count Down to 2012

2011-12-26T09:58:00.000-08:00

December 26, 2011

We are entering the final week of the year 2011. It was a year with expectations of better times. For the most part it is ending as a year in which the economy was like a swimmer in a water polo game that just treads water. The economy did not see great improvement but it also did not see continuing decline.

The news for our Inland Southern California area is encouraging as we see some job growth, a small decline in the jobless rate and an inkling that construction may come alive. Not big changes from the past few years, but small steps are a welcome relief.

Christmas shopping numbers indicate that retailers have had a reprieve from a slow sales year. Yes, the Walmarts and the Coscos and the Dollar stores were particularly favored, but even local boutiques claim to have better than expected sales.

I will be doing housing numbers next week, but I predict housing sales will have been up for the year - not prices, but volume.

It will be interesting to note some positive events of 2011 as we count down to 2012.

Poetry Parody by For your Christmas Enjoyment

2011-12-23T09:10:00.001-08:00

December 23, 2011

CENTURY 21 Lois Lauer Realty had a poetry parody writing contest. The familiar "Twas the Night before Christmas was rewritten to fit our perception of the week before Christmas. Here is a sample written by Denise Fennel, our Systems Manager.

Twas the week before Christmas and all thru the office, not an agent was stirring,

To the muse of the bosses.

Carol and Pat, they minded the phones, In hopes for a call to sell a new home.

The holiday voice mails had been crafted with care,

But that one lone shopper still hoped someone was there.

With Vaughn at his desk and Dave at the front,

They just settled in for a short winter's slump.

When out in the drive there arose such a clatter,

Dave ran out to see what was the matter.

A seller arrived with his docs in his hand,

"My escrow!" he cried, must close as we planned.

When what to our wondering eyes should appear,

But all the disclosures were completed and clear.

With his trusty agent right by his side,

We knew in a moment why we warranted pride.

More rapid than stenographers they finished the file.

We cheered and acknowledged and called them in style.

Now agent, now escrow and lenders and staff,

On computers and phones and all PDFs.

To the top of the pile, to the top of it all,

Now dash away, dash away, dash away all!

As the agents shook hands and said their goodbyes,

And giving a nod put this job aside.

They knew in their hearts it was mission complete,

There was no one in town who could ever compete.

But we heard them exclaim as they drove out of sight,

"Merry Christmas to all and to all a good night."

From all of us at CENTURY 21 Lois Lauer Realty, have a wonderful Christmas!!!!

More

Some Tips for Lowering Your Heating Bills

2011-12-22T09:02:00.000-08:00

December 22, 2011

With the cold snap we have experienced the past week, we can probably look forward to an increase in our monthly gas bill. According to the Southern California Gas Company, home heating is the biggest winter energy expense for most of us - about 65 percent of a typical residential gas bill, followed by 20 percent for water heating and 15 percent for drying clothes, cooking meals and other uses.

The Gas Company offers these tips to help reduce your gas bills:

"Lower your thermostat by 3 to 5 degrees, health permitting.

Clean or replace furnace filters as directed by the manufacturer.

Remove dirt, lint and obstructions from all heating vents and furnace registers.

Bring the sun's warmth indoors by opening drapes, shades and other window coverings during the day. Close them at night to retain the heat."

I might add one more item. However, it will probably require having a professional heating technician come by. Often in property inspection reports, the inspector notes that some of the ducting has gaps which let hot air escape into the attic areas. Since this can be a significant heat loss, having therm re taped can bring a significant reduction in your heating bill.

Here's a Last Minute Gift Idea

2011-12-21T08:36:00.000-08:00

December 21, 2011

The following information was written by David Danelski and published in the Sun newspaper on Tuesday, December 20, 2011.

If you have ever wanted a gas log in your fireplace, now is the time to make the switch. The South Coast Air Quality Management District has made $500,000 available on a first come, first served basis for fireplace inserts.

According to the agency, 1.2 million households in the South Coast Air Basin have wood burning fireplaces or wood stoves that can emit five tons of fine particle pollution per day, roughly four times the fine particle pollution produced by the region's power plants in the same period.

The agency is offering residents up to $200 to offset the expense of purchasing and installing natural gas fireplace logs. They estimate purchase and installation to be about $500.\People living in Orange County and the non-desert portions of Los Angeles, Riverside and San Bernardino counties below 3,000 feet in elevation are eligible for the subsides.

The gas logs must be purchased from participating retailers. To find a participating retailer and confirm eligible zip codes, you can visit http://www.healthyhearths.org/ and click on Gas Log Incentives or call 800-288-7664.

Treat Yourself to the Holiday Festival at the Mission Inn

2011-12-16T09:16:00.000-08:00

December 16, 2011

The Historic Mission Inn in Riverside is a glow with the Festival of Lights. One half million twinkling lights illuminate Main Street and the entire block. If you have never treated yourself to an evening at the Mission Inn site, it is well worth the trip.

Not only are the lights and animated figures a thrill to see, there are booths and a skating rink for true wintertime fun. This is the 19th year of this spectacle that is quite unique in Southern California.

Of course Santa Claus will be there every evening through December 24 when he has to pack up and make his Christmas rounds.

The entire event reminds one of picture postcards of holiday festivities from times past. A visit will definitely evoke strong feelings of nostalgia.

More Positive Inland Empire News

2011-12-15T09:06:00.000-08:00

December 15, 2011

It is a rare thing when I see a headline in a major print media that references the Inland Empire - unless it is listing us as the foreclosure capital. However on December 7, 2011, in the Wall Street Journal, on the Property Report page, a small article by Matthew Strozier was entitled "Stirrings in the Inland Empire".

Mr Strozier's piece discussed the fact that developers are moving forward with the region's first speculative warehouse and distribution center since the downturn. According to the article, the Inland Empire is the country's seventh largest warehouse market and leasing appears to be headed to an increase over last year's volume.

For those of us who inhabit the Inland Empire, we are well aware of the large number of warehouses that were built during the boom years. It is a fact of the economy of our region that the Riverside/San Bernardino areas are a major player in the distribution of goods that enter or leave the ports of Los Angeles and Long Beach. We can deplore the way that these massive structures use up our land and replace our citrus groves but they seem to be an important element in our present and future economy.

A Positive Headline

2011-12-14T08:40:00.000-08:00

December 14, 2011

On Sunday, December 11, 2011, in the Business section of the San Bernardino Sun, there was a column with a positive heading: "I.E. job market on the upswing". Since we have been constantly bombarded with articles focusing on how stagnant our economy is, it was a real holiday treat to read about some positive news.

The correspondent, Benjamin Wright, began by saying "Over the past few months, the Inland Empire has seen a sharp uptick in employment with the construction industry - believe it or not - playing a role in that equation."

He states that since June, the I.E. has added 22,100 jobs. He also says that these jobs have been spread across several areas with construction being one of those areas. Not single family homes, but non residential structures such as warehouses and office buildings. Some multifamily construction is also in the works.

Interestingly, even though some homeowners may be underwater, they are upgrading there homes with many improvements. He states "The value of these projects has increased by more than 20% since late 2009."

Bit by bit, we see positive changes for the outlook of our economy in 2012.

Median Prices - January Thru November 2011

2011-12-13T08:41:00.000-08:00

December 13, 2011

What have the median prices done in the year 2011, the third or fourth year of the downturn, depending on when you think it began. These median prices are not the result of economic analysis. They are simply the prices of the properties that are at the halfway point of the transactions reported closed in the CRMLS. Add three zeros to the number reported.
Banning/Beaumont...........Jan/175......Feb/155......Mar/155......Apr/155......May/148

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

.............................................Nov/155

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

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

...........................................Nov/145

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

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

..........................................Nov/131

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

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

.........................................Nov/200

Grand Terrace...............Jan/203......Feb/195........Mar/200......Apr/205.......May/180

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

.........................................Nov/190

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

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

.........................................Nov/170

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

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

........................................Nov/192

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

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

......................................Nov/120

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

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

......................................Nov/150

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

.....................................June/225...July/205.......Aug/215........Sept/196........Oct/189

......................................Nov/190

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

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

......................................Nov/150

Riverside.....................Jan/180.....Feb/195........Mar/187.......Apr/160...........May/190

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

.....................................Nov/187

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

....................................June/99.....July/123........Aug/100.......Sept/104..........Oct/108

.....................................Nov/104

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

....................................June/188...July/195........Aug/212.......Sept/165...........Oct/180

.....................................Nov/177

There are the numbers. It would be great if they showed an upturn but at the moment we are satisfied with just a limited trading range and no big changes.

Monthly Closed Sales - January Thru November 2011

2011-12-12T08:11:00.000-08:00

December 12, 2011

Here is a way to track the single family real estate market in our Inland Southern California area. For the fourteen communities that I regularly track, I post the number of closed sales for each month of 2011.

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

............................................July/152....Aug/114......Sept/134.......Oct/126......Nov/110

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

............................................July/25......Aug/18.......Sept/20.........Oct/27.........Nov/23

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

............................................July/49......Aug/50......Sept/41.........Oct/44..........Nov/45

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

...........................................July/228.....Aug/239....Sept/242......Oct/227........Nov/232

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

...........................................July/10......Aug/11.......Sept/11.........Oct/8.............Nov/5

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

...........................................July/55......Aug/62......Sept/66........Oct/48...........Nov/63

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

...........................................July/14......Aug/15......Sept/13........Oct/26...........Nov/11

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

..........................................July/11......Aug/6.........Sept/11........Oct/8..............Nov/14

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

..........................................July/249...Aug/253....Sept/236......Oct/198.........Nov/220

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

.........................................July/56......Aug/78.......Sept/65.......Oct/65............Nov/49

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

.........................................July/111....Aug/121.....Sept/109.....Oct/100.........Nov/83

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

.........................................July/371....Aug/451.....Sept/411.....Oct/344........Nov/343

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

........................................July/197.....Aug/192.....Sept/182.....Oct/180........Nov/179

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

........................................July/49.......Aug/76.......Sept/67.......Oct/62...........Nov/59

There you have the numbers. If I put them on a graph they would look a bit like a bouncing ball.

It will be interesting to see if the December closings bounce back up with buyers and sellers trying to close a transaction in 2011.

Palm Springs Celebrates the Holidays

2011-12-09T08:28:00.000-08:00

December 9, 2011

Tomorrow Visitors to the Palm Springs Art Museum or the Palm Springs Air Museum will have some real treats.

The Desert Winds Freedom Concert and Jazz Bands will be providing an afternoon of traditional, contemporary and swing music at The Palm Springs Art Museum from 2 - 3 p.m.

While you are there enjoy the wonderful collection of art that is on display at the museum. The museum is located at 101 Museum Drive. You can obtain more information at http://www.psmuseum.org/

A 1:00 p.m., Santa Claus will arrive at the Palm Springs Air museum in a Stearman Biplane. He will be bringing a bag of goodies and children are invited to join him. He will seat himself in a bright red chair under the wing of a C-47. The Air Museum is located at 745 N. Gene Autry Triangle. For additional information http://www.visitpalmsprings.com/

Closed Sales - November 2011

2011-12-08T08:17:00.000-08:00

December 8, 2011

Here are the numbers for residential real estate properties reported sold in the months of November 2011-2003. These numbers are obtained from the CRMLS.

Banning/Beaumont...........2011/110......2010/119......2009/109......2008/120......2007/47

.............................................2006/68.......2005/104.....2004/79.........2003/85

Bloomington.......................2011/23.......2010/30........2009/19.........2008/19........2007/10

.............................................2006/19.......2005/33.......2004/18.........2003/29

Colton..................................2011/45.......2010/45........2009/44.........2008/47.........2007/9

............................................2006/37........2005/54.......2004/47..........2003/30

Fontana..............................2011/232......2010/239.....2009/222.......2008/325......2007/82

............................................2006/160......2005/235.....2004/224......2003/192

Grand Terrace..................2011/5...........2010/4..........2009/4..........2008/8...........2007/10

............................................2006/11.........2005/14.......2003/14.........2003/8

Highland............................2011/63.........2010/44.......2009/57.........2008/58.........2007/35

............................................2006/36........2005/81.......2004/54.........2003/54

Loma Linda.......................2011/11.........2010/12.......2009/3...........2006/10.........2007/10

...........................................2006/10.........2005/7.........2004/12.........2003/7

Mentone...........................2011/14..........2010/7.........2009/11.........2008/4...........2007/13

...........................................2006/7...........2005/10.......2004/5..........2003/10

Moreno Valley.................2011/220......2010/221......2009/312......2008/415.......2007/72

..........................................2006/190......2005/347.....2004/216.......2003/237

Redlands..........................2011/49........2010/58........2009/59.........2008/37.........2007/38

..........................................2006/63........2005/60.......2004/71.........2003/61

Rialto................................2011/83........2010/104......2009/122......2008/133........2007/39

..........................................2006/56........2005/97........2004/106.....2003/111

Riverside.........................2011/343.......2010/349......2009/356.....2008/422........2007/142

..........................................2006/328......2005/467......2004/367.....2003/363

San Bernardino..............2011/179........2010/185......2009/234.....2008/248........2007/72

.........................................2006/174.......2005/236......2004/188.....2003/221

Yucaipa/Calimesa.........2011/59..........2010/50........2009/52.......2008/53..........2007/26

.........................................2006/51.........2005/61........2004/85.......2003/61

There you have the numbers. It is somewhat surprising that the number of closed transactions is remarkably consistent - boom times or bust times. Other than 2007 when sales really declined as potential buyers realized that the market had fallen. Then in 2008, following a substantial adjustment in the price of real property, sales bounced up and the volume in some communities was the highest in the past nine years.

Seventy Years Ago

2011-12-07T08:44:00.000-08:00

December 7, 2011

For the United States, the world changed on December 7, 1941. We were attacked by a small foreign country and the Second World War began. At that time, the citizens mobilized and went all out in defeating the enemies. There were paper drives and scrap iron drives. There was food rationing. I remember that you had to have a ration book to purchase shoes. There was a grand unity of purpose.

Today there the United States is a different country. Just as then, we are recovering from a major economic downturn. However, now we are hampered by a political disunity rather than the unity of the 1940s. We do not need a world war to restore a vibrant economy. (We are already fighting two wars.) Perhaps a reflection on how we got from then to now would show us a path to true economic recovery.

Oh, The Stories We Hear

2011-12-06T09:39:00.000-08:00

December 6, 2011

As professional real estate agents, we can be in the thick of the human costs of the real estate crisis. Homeowners come to us with questions about foreclosure processes, short sales, loan modifications and deed-in-lieu. Even with the many educational opportunities that are offered by the California Association of Realtors and the National Association of Realtors, we share in the helplessness of these upside down homeowners.

Yes, some of them brought it on themselves when they refinanced at the peak of the market and took equity from their homes. However, some just purchased a home at the peak of the market. Most find themselves with a total equity loss and even with a loan that exceeds the present value of their property.

The government continues to propose programs to aid the homeowners who want to retain possession. Thus far most of these programs have not worked very well. Unfortunately when a lender is contacted by the homeowners they are told that they cannot have a loan modification unless they have missed payments. The homeowner follows this direction and then a program comes out that says the homeowner must not have missed payments.

Even after at least three years of the real estate crisis, it would seem that lending/banking industry has not figured out how to turn these upside down loans into positive assets for the lending banks. It is still taking 6 months for a short sale from most of the major lending institutions. Loan modifications are pretty well impossible to obtain and homeowners who were otherwise good borrowers are stopping their payments.

Why not modify a loan to the current market value of the home. Request shared equity or a note that gives the lender any additional monies if the property is sold for more. There must be a way.

Staging a Home For Sale

2011-12-05T08:06:00.000-08:00

December 5, 2011

The practice of "staging" a home for sale began to be popular in the 1980s. Prior to the use of the word "staging" and the professionals who called themselves "stagers", real estate agents would walk through a home with a seller and make suggestions about putting away personal items and clutter in order to show the home to be as "crisp and clean" as possible. The theory always was that "crisp and clean" attracts more potential buyers and will help the seller achieve th "highest possible price" in any given real estate market - up or down.

I read an article in the LA Times written by a Mary Umberger. She was reporting on an interview with Andrea Angott who has a doctorate in psychology. She generally is studying how consumers make their decisions about healthcare but last year she did a project in which she research "staging" in real estate.

Andrea sent out a survey to a stagers' trade group and received back 457 responses with more still coming. The most important "staging" that a homeowner could do was to remove personal items from bathrooms, such as used bars of soap, toothbrushes, razors. This was number one in importance receiving a 6.55 on a 7 point scale. The number 2 concern was that sellers should furnish rooms in ways that the rooms were intended. For example: a dining room should have a dining room set, not desks and computers or other non-dining room furniture. Buyers seemingly cannot visualize spaces if they are compromised by inappropriate furniture.

The number 1 concern of personal items is an easy fix. The number 2 concern is perhaps not so easy as it could involve a seller's lifestyle. However, if you are really intending to move on, it may be a good idea to listen to the "stager" or to your real estate agent.

You Know it's December when....

2011-12-02T09:07:00.000-08:00

December 2, 2011

Not the howling and cold winds tell the East Valley that December has arrived. It is all the traditional holiday festivities that welcome the month of December. Parades, tree lighting ceremonies, downtown Riverside skating, millions of lights on the Mission Inn and the Holiday Home Tour in Redlands.

For, I believe thirty-nine years, the Holiday Home Tour in Redlands has welcomed hundreds and even thousands of visitors. Begun by the YWCA and now sponsored by the YMCA, this home tour features six of Redlands very special homes. Decorated by local florists and the homeowners, these homes will be open to the public from9:30 a.m. to 4:30 p.m. on Sunday, December 4. Advance tickets are $25.00 and the day of the tour $30.00 They may be purchased at any of the homes. There is also a Patron Package for $65 that will give you priority for entrance.

On Saturday and Sunday, the YMCA will be holding a craft boutique and pantry at the Y facility on Citrus Avenue from 9 a.m. to 4 p.m.

These events are fundraisers for the YMCA, but they are also great "fun" raisers for the community of Redlands.

Listing, Pending and Back-up December 1, 2011

2011-12-01T08:23:00.000-08:00

December 1, 2011

We are beginning the final month of 2011. As I review the numbers, I see some positive movement in the ratios of properties in escrow to the properties that are listed for sale. There is nothing scientific in these numbers, but they do reflect the real estate activity that is taking place in our market area. It seems to me that as we bounce along the bottom of the real estate decline, we are seeing some improvement in the volume of properties going into escrow. We continue to have a bit of a shortage in the number of properties being market for sale. No glut here.

Banning/Beaumont..........List/456.......Pend/194.......Back-up/100......Ratio/.645

Bloomington......................List/58.........Pend/47.........Back-up/21........Ratio/1.172

Colton.................................List/96.........Pend/86.........Back-up/36........Ratio/1.271

Fontana..............................List/569.......Pend/488......Back-up/214.......Ratio/1.234

Grand Terrace...................List/38.........Pend/17.........Back-up/7...........Ratio/.632

Highland............................List/137........Pend/115.......Back-up/55........Ratio/1.241

Loma Linda.......................List/37..........Pend/34........Back-up/12.........Ratio/1.243

Mentone............................List/34..........Pend/19........Back-up/9...........Ratio/.834

Moreno Vallaey................List/686.......Pend/468......Back-up/206......Ratio/.983

Redlands............................List/254.......Pend/96........Back-up/43.........Ratio/.547

Rialto.................................List/290.......Pend/206......Back-up/66.........Ratio/.938

Riverside...........................List/1173......Pend/739......Back-up/380.......Ratio/.954

San Bernardino................List/643.......Pend/413......Back-up/125........Ratio/.837

Yucaipa/Calimesa...........List/226.......Pend/103......Back-up/63..........Ratio/.735

There you have the numbers. December 1, 2010, the highest ratio was Fontana at .910. The lowest ratio was Redlands at .450. It is interesting to note that Redlands has continued to be the lowest ratio of properties in escrow to properties listed for sale. This may be attributed to the fact that the over $400,000 market has not recovered to the same extent as the more moderately priced properties. It could be interesting to do a more in depth analysis.

Harp 2 Refinance

2011-11-30T07:54:00.000-08:00

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

2011-11-29T09:34:00.000-08:00

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

2011-11-28T07:50:00.000-08:00

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

2011-11-25T08:35:00.000-08:00

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

2011-11-24T08:45:00.000-08:00

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

2011-11-23T08:53:00.000-08:00

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

2011-11-22T09:12:00.000-08:00

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

2011-11-21T08:28:00.000-08:00

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

2011-11-18T08:36:00.000-08:00

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

2011-11-17T08:36:00.000-08:00

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

2011-11-16T08:50:00.000-08:00

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?

2011-11-15T08:46:00.000-08:00

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

2011-11-14T09:51:00.000-08:00

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

2011-11-11T08:40:00.000-08:00

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

2011-11-10T07:48:00.000-08:00

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

2011-11-09T08:24:00.000-08:00

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

2011-11-08T08:29:00.000-08:00

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

2011-11-07T08:02:00.000-08:00

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

2011-11-04T08:55:00.000-07:00

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?

2011-11-02T07:40:00.000-07:00

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

2011-11-01T08:57:00.000-07:00

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.

Great Weekend to Check Out the Latest in Home Improvements

2011-10-28T08:41:00.000-07:00

October 28, 2011

The Ontario Convention Center is host to the Inland Empire Home Show. The show opens at 12 p.m. today, Friday, October 28. The hours are 12 p.m. to 7 p.m. Friday, 10 a.m. to 7 p.m. Saturday and 10 a.m. to 6 p.m. on Sunday. The cost of admission is $7 for adults, $5 for seniors (62+) and under 18 year olds are free with a paid admission. The military is also free with an ID.

These home show events are great ways for home owners and prospective home buyers to check out all the latest in home improvements. It is also a good way to meet vendors and check out there wares.

Learn about the latest in window replacement, hot water tanks, solar systems. Find out what decor is now popular. Walking around a home show can be a pleasant way to spend some time and educate yourself about what types of home improvements are being marketed.

"It's Time to Buy That House"

2011-10-27T08:26:00.000-07:00

October 27, 2011

"It's Time to Buy That House" was the headline for an op-ed piece in the Wall Street Journal's Saturday/Sunday edition of October 15-16, 2011. Obviously it caught my attention since I am a real estate sales professional. The gist of the article is that prices of houses have come down to a level that is making a purchase competitive with what a renter would be paying in monthly rent.
What makes this time a great time to purchase a home is not only the affordable prices but the historically low interest rates that are available for 30 year amortized loans. Also, as long as the FHA down payment requirement remains at 3.5 percent of the purchase price, a buyer of a median priced house in our market would only need approximately $7,500. Of course there are other cost s in purchasing a home such as loan origination fees, mortgage insurance, escrow fee, title insurance and homeowner's insurance.

Buying a home will probably be a person's largest purchase, we all need a place to live. The writer of this piece makes the point that right now you might be able to purchase a home and actually have lower monthly payments than the rent payments you are presently making.

Real Estate Owned (REO) Are They the Shadow Inventory?

2011-10-26T09:32:00.000-07:00

October 26, 2011

I recently received a news letter from DSnews.com that cited a study done by CoreLogic. The study looked into what was the final resolution for properties that the banks repossessed. I quote from the article.

"In 2006, just as the housing bubble popped, over 355,000 properties proceeded through the foreclosure auction. CoreLogic's data shows that approximately 34 Percent (122,000) were successfully bid on by an investor. The remaining 66 percent (233,000) went back to the banks as REO properties.

Of the properties that went into REO, CoreLogic reports that90 percent (210,000) were liquidated in REO sales to third party buyers.Nearly half of these sales took six months or less to complete, but 21 percent took 12 months or longer."

" CoreLogic also found that only 2 percent of the bank-owned homes bought with a mortgage in 2006 have since been foreclosed on again and made an appearance as REO. "

Admittedly the data studied was from 2006 and we are now in 2011 with foreclosures still apart of our real estate inventory. Perhaps the new and revised HARP plan will have an impact and underwater homeowners will be able to live without the threat of foreclosures impacting their lives.

Garden Fountains and Algae

2011-10-25T07:40:00.000-07:00

October 25, 2011

I believe that a while back I mentioned putting copper pennies in your garden fountain. I had a new fountain installed last March and I have my own fun of tosses into the fountain any bright copper penny I receive. They are really shiny and bright for a week or so. Eventually they do turn brownish or greenish. I just keep tossing new ones and the copper glint is really lovely.

However, the best part of my penny tossing is that they do seem to keep algae from growing. The previous fountain that I repaced had gotten really filled with slimy threads of algae. While the algae is green and not totally unattractive, it certainly was not the look that I wanted.

So, when I came across the page in Jerry Baker's book "Cleaning Magic" I was intrigued about the possibility that plain, old copper pennies could keep the water in my fountain clean. Well, the fountain has been there over six months and thus far not a trace of algae! The water remains clear and I am thrilled to toss those bright and shiny copper pennies into the fountain.

I do not know if the pennies will get rid of already existing algae, but they have been a satisfactory control in my new fountain.

If you try it, let me know if it works for you.

Another Plan from the Government

2011-10-24T08:35:00.000-07:00

October 24, 2011

On my way to work this mornings, I heard a news commentator announce that the government is launching a new program to help underwater home owners. What I heard was that this plan will eliminate appraisals and will reduce the interest rate paid on the mortgage to current rates. I did not hear whether the proposal includes reducing the amount of the loan so as to eliminate the underwater part of so many homeowners.

One criteria for participating in this new program is that the homeowners monthly payments on the existing loan must be current - no delinquencies. This could be a major hurdle for some homeowners as all previous conversation with their lenders made missing payments a criteria for eligibility in a loan modification or short sale program.

I am sure more details will be forthcoming. Since this is at least the third, probably the fourth, attempt of the government to keep present homeowners in their homes, we can hope that the government has learned what won't work.

Oktoberfest in Rancho Cucamonga

2011-10-21T08:48:00.000-07:00

October 21, 2011

The weather is delightfully October-y. For family fun, the Rancho Cucamonga Rotary Club is putting on a food truck Oktoberfest. The hours will be from noon until 6 p.m on Sunday, October 23 at Etiwanda Gardens, 7576 Etiwanda Avenue in Rancho Cucamonga.

There will be the traditional Oktoberfest beer garden, German food and live bands playing great oom pah pah music. There will be food trucks offering a variety of foods. Dim Sum Truck, Me So Hungary, Crepe'n Around and Waffles de Liege.

The event is a real bargain at $5 with children under 12 free. For tickets and more information http://www.rotaryoktoberfest.org/

10:20 A.M. Great California ShakeOut

2011-10-20T08:51:00.000-07:00

October 20, 2011

At 10:20 a.m. today, Thursday, October 18, Californians will participate in the 2011 Great California ShakeOut. This is state wide earthquake drill. Businesses, schools and organizations have signed up to participate. Police and fire departments will participate in recovery exercises.

For those of us who are not signed up to officially participate, we can still pay attention to where we are at 10:20 a.m. and take note of our surroundings. Should we drop under a heavy table or desk? Are we too near a large window? Are there books that could fly off the shelves? Check it out.

Experts believe that the majority of earthquake injuries are caused by unsecured objects. Moving heavy objects to lower shelves is a good strategy. How is your TV secured? And that water heater - by law it must be strapped both top and bottom to the wall.

Do you have an earthquake safety kit? Some institutions are giving out free ones today.

And most importantly, do you have a disaster plan that lets your family know how to contact each other. It is often suggested that you have an out of state contact that you all can reach to report your status.

The Great California ShakeOut is a massive attempt to educate Californians on earthquake survival. Pay attention. You might save your life.

Proof That Real Estate Markets Are Cyclical

2011-10-19T09:12:00.000-07:00

October 19, 2011

I have been doing a massive personal project of sorting through all the boxes of saved stuff in my garage. I came across a booklet published by the California Association of Realtors. The head line caught my attention as it is so similar to editorials and news articles of published this year. When I opened the pamphlet, I found that it had been published in 1989.

Do you remember 1989? We were in a market of rising prices and there were fears that the next generation would never be able to afford a home.

The booklet had some predictions about California demographics and growth that were eerie in their accuracy. Much of the analysis could have been written in 2005.

Interestingly, the issue that most concerned C.A.R. in 1989 was the rise in the cost of housing that priced many Californians out of the market. However, as in 2005, the market made an adjustment and in the mid 1990s, prices dropped, foreclosures were prevalent and the bottoming out of that cycle probably occurred around 2001-2002.

Just reading the analysis and then knowing what occurred in the next 22 years substantiates my belief that this market will recover, but it will take time.

Good Time to Check Your Furnace

2011-10-18T09:44:00.000-07:00

October 18, 2011

I know that we are having a bit of a heat wave, but it is the middle of October and the evenings are becoming cooler. In a very short time, you may want to switch your heating and cooling system from "cool" to "heat". If you conserved energy and shut off the pilot light on the furnace for the summer, it is time to relight it. The Gas Company provides this service and will check out your equipment for gas leaks.

Of course, it is also a great idea to call your local heating and air conditioning contractor and have them service your system. They can change the filters and alert you to any potential issues. It is amazing how easy it is to ignore servicing heating and air conditioning systems as long as they are functioning as they should. It is when there is a failure, that the panicky call goes out to the contractor. Since often problems will arise when a system is first turned on, the contractors can be busy and it may take time for your needs to rise to the top of the service call list. Calling now puts you ahead of the crowd.

HAMP, HARP,HELP and now HOME

2011-10-17T08:19:00.000-07:00

October 16, 2011

The government has enacted a series of foreclosure-avoidance programs, but with seemingly little success. The rules and regulations have made it very difficult for upside down homeowners to qualify for either a loan modification or a loan refinance. Most of these upside down homeowners have no equity because the decline in value has taken equity away. If a refinance program requires that the borrower have equity in the property, it obviously will not work.

In the Los Angeles Times on Sunday, October 16, a headline caught my attention "Bill would end penalty to tap 401(k) to avoid foreclosure." Co-written by a Senator and a Representative, the bill would allow owners to pull out up to $50,000. The money could be used in a lump sum to pay down the delinquent mortgage balance or to fill shortfalls caused by a reduction of household income. Titled the HOME act, short for Hardship Outlays to protect Mortgage Equity Act, the plan proposes to eliminate the 10% penalty charged when there is an early withdrawal of funds from a 401(k).

In retrospect, it may be too bad that the government didn't use the TARP (Troubled Asset Relief Program) to have banks paid only the amount used to actually reduce the outstanding balance of a loan or the interest rate. Homeowners might have then made payments and thereby stem the flood of foreclosures. Banks would not have been allowed to use government funds to enrich themselves.

It does seem that we are entranced by acronyms rather than a program that could adjust to the reality of this housing recession.

It's Apple Season in Oak Glen, CA

2011-10-14T08:42:00.000-07:00

October 14, 2011

The apple picking in Oak Glen, California began in September and will continue through Thanksgiving. With our beautiful fall weather this weekend, it will be perfect to visit Oak Glen. At Riley's Farm you can pick a bag to take home with you. Bags are weighed and you pay by the weight. Riley's also has their log cabin and a restaurant to enjoy. Some of the other vendors have apples by the bushel and the peck for purchase. Laws is a famous stop for apple pie.

At approximately 6000 foot elevation, the temperatures will be pleasant. You can certainly enjoy a bit of old fashioned Americana.

For information about Oak Glen http://www.oaktreevillageoakglen.com/

The Over $400,000 Real Estate Market

2011-10-13T08:46:00.000-07:00

October 13, 2011

In keeping tabs on what is happening in our local real estate markets, the number of closed transactions with a selling price over $400,000 is on of the data points that I track. In 2006 and 2007, Riverside, Fontana and Redlands had median prices over $400,000. We are a long ways from that median price, but Riverside, Redlands, Yucaipa/Calimesa and Highland have had sales over $400,000 the remaining ten of the fourteen communities that I track are still without sales in that range. In this third quarter of 2011, Banning/Beaumont and Colton did each post one or two over $400,000 sales. The total in September for the fourteen communities was thirty-two, down from the forty-two posted in August but up from the twenty-eight posted in July.

As I track the numbers, it is interesting to see that they seem to confirm the general opinion that we are bouncing along the bottom of the housing recession. We are not going up nor are we going down.

Median Prices - Closed Transactions January Thru September 2011

2011-10-12T08:34:00.000-07:00

October 12, 2011

These are the median prices of closed transactions as calculated by using the data in the CRMLS. The methodology is simplistic. I take the total number of closed sales reported, divide by 2 and the price of the property at that halfway point is the price I use as the median. I omit the "000" so you will need to remember that the number $150 is actually $150,000.

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

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

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

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

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

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

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

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

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

.........................................June/165.....July/220......Aug/215.......Sept/222

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

For the most part the median prices continue to fluctuate in a relative small range. We will keep an eye on Redlands and Yucaipa.

Monthly Closed Sales - 2011

2011-10-11T08:19:00.000-07:00

October 11, 2011

Yesterday I posted the numbers for the closed single family sales for the month of September from 2003 to 2011. Today I will post the numbers for each month in the present year. This will allow you to see the trend for the year 2011.

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

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

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

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

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

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

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

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

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

.........................................July/10........Aug/11.......Sept/11

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

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

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

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

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

.........................................July/11........Aug/6........Sept/11

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

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

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

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

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

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

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

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

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

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

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

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

In March it look as though we were seeing a nice jump in volume, but it did not continue the upward trend. However, the sales continue to produce fairly consistent numbers. Perhaps if we maintain this volume through the fourth quarter of 2011, we can feel that the worst is behind us.

Closed Transactions - September 2011-2003

2011-10-10T08:12:00.000-07:00

October 10, 2011

This will be the week for sharing the data that I glean through the CRMLS about closed transactions in the month of September. Today's posting will be the number of closing in September 2011 and for each previous September back to 2003.

Bannning/Beaumont..........2011/134......2010/123......2009/162......2008/134......2007/43

................................................2006/87.......2005/110......2004/94.......2003/76

Bloomington........................2011/20........2010/19........2009/39........2007/27........2007/9

...............................................2006/17........2005/29.......2004/24........2003/18

Colton...................................2011/41........2010/49........2009/52........2008/43........2007/11

...............................................2006/45.......2005/52.......2004/54........2003/51

Fontana................................2011/242......2010/270.....2009/331......2008/357......2007/61

..............................................2006/191......2005/303.....2004/269......2003/225

Grand Terrace....................2011/11.........2010/6..........2009/10.........2008/12........2007/4

.............................................2006/14........2005/28.......2004/12.........2003/10

Highland............................2011/66.........2010/53........2009/72........2008/59........2007/13

.............................................2006/50.......2005/92........2004/49........2003/60

Loma Linda.......................2011/13.........2010/26........2009/18.........2008/20.......2007/2

............................................2006/15........2005/13........2004/8...........2003/16

Mentone............................2011/11.........2010/4..........2009/8...........2008/9.........2007/3

............................................2006/8.........2005/3..........2004/7...........2003/5

Moreno Valley.................2011/236.......2010/259......2009/351.......2008/434.....2007/77

...........................................2006/188......2005/370......2004/244......2003/267

Redlands..........................2011/65.........2010/61..........2009/62........2008/62........2007/43

..........................................2006/56.........2005/83........2004/87.........2003/90

Rialto...............................2011/109........2010/102.......2009/122.......2008/142......2007/36

..........................................2006/83........2005/142........2004/107......2003/119

Riverside.........................2011/411........2010/365.......2009/453.......2008/487......2007/137

..........................................2006/389......2005/540......2004/404.......2003/393

San Bernardino..............2011/182.......2010/197........2009/287.......2008/279......2007/72

..........................................2006/189......2005/244.......2004/255.......2003/244

Yucaipa/Calimesa.........2011/67..........2010/53.........2009/41..........2008/51.......2007/29

.........................................2006/54.........2005/69.........2004/79.........2003/64

There you have the numbers. It is easy to note that in 2007, the real estate market had almost disappeared. I watch these numbers to track such major changes. We are all watching to see if they will be indicative of the next up tick in sales.

A MAZE ing Fun

2011-10-07T08:33:00.000-07:00

October 7, 2011

This October there are several opportunities to experience the fun of walking though a corn maze. I am aware of at least three corn mazes that are available along with pumpkin patches, pony rides, petting zoos, tractor pulls and all varieties of fun.

Live Oak Pumpkin Patch is open from 9 a.m. to 9 p.m. daily during the month of October. it is located just off the 10 freeway at live Oak Canyon Road. Admission to the pumpkin patch is free but some of the other attractions do require the purchase of a ticket. For information: 909-795-8733 or http://www.liveoakcanyon.com/

Peltzer Farms at 39925 Contento in Temecula . It is open from 9 a.m. to 8 p.m. during the month of October. It is also free but some of the attractions will require tickets. 951-695-1115 or http://www.peltzerfarms.com/

Big Horse Ranch Corn Maze at 33320 Temecula Parkway in Temecula is the site of an 11 acre corn maze. The maze opens this Saturday along with several mini mazes. Admission is $9-$13 with a $3 charge for parking. The hours are 1-5 p.m. Monday - Friday, 10 a.mm. to 4 p.m. Saturday and Sunday. The dates are October 8 to 31. 951-389-4621 or http://www.bighorsecornmaze.com/.

Home Values and the Internet

2011-10-06T09:11:00.000-07:00

October 6, 2011

Back in about 2003, Zillow started a site that would calculate the value of a property. The visitor to the site only had to enter the address and a "zestimate" of its market value would be posted. It was a real hit with the public. Real estate agents learned quickly that they also needed to check Zillow before they went on a listing presentation because many of their prospective clients had already checked out the "zestimate" on their home.

Since 2003 there have been a proliferation of home valuation sites including a button on Realtor.com that allows you to enter an address and receive an email of the valuation. Like many of the other sites, you must register and surprisingly an agent will contact you.

The real question with these sites that have developed algorithms that come up with a value is that they have not seen either the subject property nor the comparables. They simply use mathematical calculations. This can be a good starting place, but to understand your local market values, there is nothing better than an experienced real estate agent.

Establishing a market value for a unique piece of real estate is not a science, it is an opinion based on knowledge and experience. Ultimately, the buyers and sellers in a specific locale with establish the value when the negotiate a final selling price.

A Comparaison of October 2008 and October 2011

2011-10-05T08:51:00.000-07:00

October 5, 2011

Although I have been posting this blog since October 31, 2006, I did not start to post the numbers for the active listings, pendings and back-ups until 2008. I went back into the archives of the blog posts and found the October posting the gives the numbers for active listings and pending sales. I did not at that time list the numbers for the back-up transactions. My reason for looking back is to compare today's numbers with the numbers when our local real estate market was definitely in transition from boom to bust.

What immediately caught my attention was the much larger number of active listings. Just look at some of the larger communities.

Riverside....................List/2008/2373.......List/2011/1174

San Bernardino.........List/ 2008/1924......List/2011/658

Fontana......................List/2008/1681.......List/2011/670

Moreno Valley..........List/2008/1793........List/2011/768

Redlands....................List/2008/366.........List/2011/257

You can note that the number of active listings is less than half the number of properties for sale in 2008.

The total number of active listings for the fourteen communities that I track was 11,082 in 2008 compared to the total in 2011 of 4955. It is also interesting to note that the total number of pending sales reported for the fourteen communities in 2008 was 3,735 compared to 3058 in 2011. The ratio in 2008 was .337 and 2011 it was .617.

One wonders if the volume of active listings increase would we be making more sales?

Listings, Pendings, and Back-ups - October 1, 2011

2011-10-03T08:11:00.000-07:00

October 3, 2011

Here we are entering the fourth quarter of 2011. Amazingly, we have managed to bounce along the bottom with no major ups or downs. The numbers, as you can note, have not varied much from month to month. The good news is that the ratio of properties in escrow to properties being offered for sale has increase with none of the fourteen communities that I track being under fifty percent.

Banning/Beaumont........List/452......Pend/210......Back-up/100......Ratio/.686

Bloomington....................List/64........Pend/52........Back-up/22........Ratio/1.156

Colton...............................List/96........Pend/98........Back-up/38........Ratio/1.417

Fontana............................List/670......Pend/508......BAck-up/221......Ratio/1.088

Grand Terrace.................List/40........Pend/15.........Back-up/8..........Ratio/.575

Highland..........................List/163......Pend/98.........Back-up/61........Ratio/.975

Loma Linda.....................List/44........Pend/31..........Back-up/22.......Ratio/1.205

Mentone..........................List/32........Pend/18..........Back-up/12.......Ratio/.938

Moreno Valley................List/768......Pend/468.......Back-up/193.....Ratio/.861

Redlands.........................List/257.......Pend/86.........Back-up/56.......Ratio/.553

Rialto...............................List/306......Pend/227.......Back-up/64........Ratio/.951

Riverside.........................List/1174.....Pend/724.......Back-up/404......Ratio/.961

San Bernardino..............List/658......Pend/417.......Back-up/130.......Ratio/.831

Yucaipa/Calimesa.........List/234.......Pend/106......Back-up/63.........Ratio/.722

These numbers are the result of my counting the properties that are reported through the CRMLS.. I try to be consistent and count the numbers on the first day of each month as the numbers do change on a daily basis.

What's This? A Pink Press?

2011-09-30T08:57:00.000-07:00

September 30, 2011

Were you surprise this morning when you found a pink Press Enterprise Newspaper lying in your driveway? The "pink editions" were published in honor of Breast Cancer Awareness Month. The Press Enterprise is donating 10% of proceeds from advertising ordered in today's paper. They also provide a listing of fundraising walks to cancer screening events in Inland Southern California.

This Sunday, October 2, the 4th annual Believe Walk will take place in Redlands. Registration opens at 7 a.m. and the Walk begins at 8:30 a.m. You can preregister online today until 5 p.m.

Go to http://www.believeinlandempire.com/ and get details. This walk has grown since its beginnings and is a great way to support breast cancer patients and research.

Redlands' Schools Are Celebrating

2011-09-29T08:52:00.000-07:00

September 29, 2011

At the meeting Tuesday evening of the Redlands Board of Education, Paul Cullen, the assistant superintendent of educational services, announced that 14 of the districts school now have Academic Performance Index (API) scores of 800 or greater. This may not be meaningful to those of us who do not have children in school, but to academia it has become vitally important. The overall state average is 778.

The API testing is part of the No Child Left Behind law enacted in 2001. The statute requires schools to strive to improve their test scores over time. The law imposes penalties and grants rewards. While there is much controversy over the merits of teaching to the test, there is no controversy over the need to improve the education of your children.

It is important to parents to know that schools in the Inland Area are improving and bringing our educational system back to the quality it was once known for.

For Interesting Housing Data...

2011-09-27T09:04:00.000-07:00

September 27, 2011

On the front page of this morning's Wall Street Journal there was a small graph entitled "Vital Signs". I thought it would be interesting to copy it onto the blog but was unsure of copyright regulations. Under the graph it stated that the source was U.S. Commerce Department. So I decided to check out the source by googling the U.S. Department of Commerce. For a data wonk such as I am, it was a real treat. I did not find the chart but I did find press releases. Of further note, these release seem to say that new construction is up in August over July and August 2011 over August 2012. This press release seemed to differ from the piece in the WSJ that stated that "Sales of new homes slipped".

As I explored the site, however, I found lots of headers to click. "Characteristics of new construction was one. This is clearly a site that will require further exploration!

"There's Inherent Value in the Housing Market"

2011-09-26T08:01:00.000-07:00

September 26, 2011

When I arrived at my desk this morning, my eyes caught the newspaper clipping that I had saved. There it was, complete with it's op ed piece headline "There's inherent value in the housing market". On an overcast autumn day, this article's message was a great way to start a new week.

The economy may be teetering and the world may be full of unhopeful news, but the writer of this piece wants his readers to remember that, over the long term, homeownership has value.

With mortgage rates at historic (50 year) lows and prices back to 2002, 2003 levels, and the affordability index somewhere in the 60% range, buyers are coming back into the housing market.

Besides the potential for monetary gain in value, owning a home has other values. Stability of location, putting down roots, being part of a community and of a neighborhood are some of these benefits. Designing your own decor or growing your own plants or leading a certain lifestyle all can come with the purchase of a home.

Such wonderful, positive thoughts for a Monday morning!

Snowboarding at Big Bear

2011-09-23T08:47:00.000-07:00

September 23, 2011

I don't yet see snow capped mountains, but Bear Mountain must have created snow. Saturday, September 24, the eighth annual Bear Mountain's snowboard gathering will occur. Bear Mountain's Hot Dawgs and Hand Rails summertime snowboard gathering is one of the largest in the world.

Athletes will compete all day and the live webcast will begin at 3 p.m. on http://www.snowboardermag.com/

The competition will end at 7 p.m. with an awards ceremony.

This is just another example of the variety of activities that are available to our residents.

A Look at Refinancing Your Mortgage

2011-09-22T08:40:00.000-07:00

September 22, 2011

An article in this morning's Wall Street Journal was entitled "Refinancing Our Way to Recovery". The writer of the article, David Wessel, suggests that by changing some of the regulations that limit homeowners' ability to refinance and cutting their monthly payments, monies would be available for consumers to put back into the general economy.

A chart in the articles suggests that "Roughly 28 million households have mortgages with interest rates above 5.1%. Of that 5.1% 19.9 million homes have equity and 8.1 Million owe more than their home is worth.

The roadblock to refinancing has often been the present appraised value of the property. Presumably when it is cited that 19.9 million homeowners have equity, it is also presumed that they will have enough equity left after a reappraisal at current value. If not, they are in the boat with the upside down homeowners. From my perspective, this is the barrier to a run on refinancing at the current mortgage rates. It does seem sad that the rates at 50 year historic lows can not be available to folks who already own a home. The writer of the article suggest that it would be worthwhile for the institutions that govern the lending laws taking a serious look at
making refinancing available within the constraints of the current market.

Investing in Real Estate

2011-09-21T08:59:00.000-07:00

September 21, 2011

With low returns on stocks and savings, investors are turning to real estate.

REITs (Real Estate Investment Trusts) have become of interest for investors who don't want the responsibility of managing a rental property but still want to be invested in real estate. These REITs hold large numbers of properties, most often commercial buildings such as retail stores and hotels.

However, there are opportunities in the single family residential market. Prices and interest rates are low and some investors have been able to receive as much as 2 percent of the purchase price in rent.

If you are thinking of buying a rental property, be sure to check out the neighborhood and what rents are for similar properties in similar neighborhoods.

Be aware that you will probably have to put 20 to 30 percent down and that you will have closing costs to pay; loan origination, escrow, title.

The better the condition of the home, the easier it will be to find a renter. Fresh paint, new carpeting, new appliances always attract a tenant who is likely to take care of the property.

Another area to check out is the area of governmental regulation. There may be fees to be paid to the city and you will need to factor those fees into to your balance sheet.

Buying a real estate investment property can be a good way to put your money to work. Be sure you do your homework and you likely will benefit greatly.

To Lease or to Sell?

2011-09-20T09:41:00.000-07:00

September 20, 2011

Home owners who want to, or need to, make a move in this real estate market sometimes ponder the question: "Should we lease or should we sell?" The answer is "It depends".

Why would you consider renting rather than selling? Is the reason for considering renting due to the present reduced market value of your home? If so, then how long do you think you will be renting it out? What is your best estimate of when real estate market values will improve? Remember, if Congress does not change the primary residence exclusion, you must have lived in the property two of the last five years prior to the sale. How long will you hold on to the home? Will you be managing the rental yourself or will you hire a property management company to do so?

Then there are the considerations if you decide to sell. Do you have a loan against the property? Is it more than the property is worth? Are there repairs that might need to be made or that would enhance the value? Are you wanting to purchase another home?

A crucial issue in the "to lease or to sell" debate is the "why" of making a move. You, the homeowner must decide the value of moving on totally by selling or "moving on" partially by holding onto the home.

A real estate agent can be helpful in presenting you with a market analysis, but you are the decision maker as to which choice best suits your goals.

Believe it or Not - The Housing Market Bottomed Out in 2009

2011-09-19T08:06:00.001-07:00

September 19, 2011

As I drove to work this morning I was listening to an interview on KNX radio. The interviewee was reporting on a news release, apparently from Case-Shiller, about the housing market. I perked up my ears because I have generally found Case Shiller reports to be pretty negative about the housing market. This report (which I haven't found in writing yet) was positive. Well, perhaps not too positive, but when a report comes out that states that the housing market in 20 metropolitan areas (California included) actually bottomed out in 2009, I am amazed. We are now and have been, bouncing along the bottom and no serious declines are forecast.

Amazing, since when you google "Case Shiller" the articles suggest a further decline of 4.3%.

I have attempted to post the numbers that are reported through the CRMLS so that readers can judge for themselves what is happening. I agree that it looks like a bottom has occurred and that the market is stabilizing along that bottom.

The word this morning was "buy now". Low prices and low interest rates present a great opportunity.

San Bernardino Is the Place to Be

2011-09-16T08:52:00.000-07:00

September 16, 2011

It began yesterday evening and will continue through Sunday. The annual Stater Bros. Route 66 Rendezvous brings the excitement of classic cars. So many beautifully restored cars are brought to San Bernardino for the weekend parade and car show. It is an event that celebrates the trips on Route 66.

Add ed to the event this year, The California Theatre of the Performing Arts is staging iconic rock and roll performances. Remember Chubby Checker and the Twist? Chubby will perform at 8 p.m. on Saturday. Chuck Berry is this evening and Barenaked Ladies are Sunday. Tickets range in price from $19 to $63.50.

All the parades are free and it makes for an exciting time in the old town of San Bernardino.

For additional information go to http://www.route-66.org/

The Over $400,000 Market

2011-09-15T08:12:00.001-07:00

September 15, 2011

Several months ago I began tracking the number of properties reported as sold for a price over $400,000. I chose to follow this statistic because it was clear that the upper end of our region's real estate market was severely hit by the recession . Many properties that in 2004, 2005 and 2006 that had sold above $400,000 were now selling as short sales, often for a third less. Riverside, Redlands, Yucaipa and to some degree, Fontana, are showing some increase in sales in this over $400,000 market. Here are the numbers.

Banning/Beaumont............Jan/0......Feb/0......Mar/0.....Apr/1.....May/0

.............................................June/0......July/1....Aug/1

Bloomington.......................Jan/0.......Feb/0......Mar/0.....Apr/0....May/0

............................................June/1.......July/0.....Aug/1

Colton.................................Jan/0........Feb/0.....Mar/0......Apr/0....May/0

...........................................June/0.......July/0....Aug/1

Fontana..............................Jan/3........Feb/2......Mar/4.....Apr/4.....May/0

...........................................June/4.......July/3.....Aug/1

Grand Terrace..................Jan/0.........Feb/0......Mar/0.....Apr/0.....May/0

..........................................June/0.......July/0......Aug/0

Highland............................Jan/0.......Feb/2.......Mar/0.....Apr/0.....May/0

...........................................June/1......July/2.......Aug/1

Loma Linda.......................Jan/0.......Feb/0.......Mar/0.....Apr/1......May/0

...........................................June/0......July/0......Aug/0

Mentone............................Jan/0.......Feb/0........Mar/0....Apr/0......May/0

...........................................June/0.....July/0.......Aug/0

Moreno Valley..................Jan/0........Feb/0........Mar/0.....Apr/0.....May/0

..........................................June/1.......July/0.......Aug/0

Redlands...........................Jan/6.........Feb/6.......Mar/5.....Apr/7......May/8

..........................................June/8.......July/4.......Aug/11

Rialto................................Jan/0.........Feb/0........Mar/0....Apr/0......May/0

..........................................June/0.......July/0.......Aug/0

Riverside...........................Jan/11.......Feb/10.......Mar/16...Apr/22....May/18

..........................................June/24.....July/20.....Aug/25

San Bernradino................Jan/2........Feb/0.........Mar/1.....Apr/0......May/0

..........................................June/0.......July/0........Aug/0

Yucaipa/Calimesa...........Jan/2.........Feb/2.........Mar/3.....Apr/7......May/4

..........................................June/4.......July/1.........Aug/6

Totals for the fourteen areas I track are as follows:

Jan/24....Feb/22....Mar/29....Apr/42....May/30....June/42....July/28.....Aug/47

No real up/down trends, but signs of life.

Median Prices of Closed Transactions January thru August 2011

2011-09-14T08:55:00.000-07:00

September 14, 2011

Here is a quick overview of median prices as reported in the CRMLS for the fourteen communities that I track. This is not done in any official methodology. I simply take the number of sold properties, divide by 2 and list the selling price of the property at that halfway mark.

I omit the "000" so you will need to remember that the number $165 is really $165,000.

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

..........................................May/148.....June/165....July/161......Aug/165

Bloomington....................Jan/165......Feb/130......Mar/149......Apr/150
.........................................May/125.....June/150....July/155.......Aug/140

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

.........................................May/117.....June/130.....July/110.......Aug/120

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

.........................................May/185....June/215.....July/205......Aug/200

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

.........................................May/180...June/165.....July/220.......Aug/215

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

.........................................May/185...June/182.....July/163........Aug/200

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

........................................May/235....June/250....July/220.......Aug/250

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

........................................May/95......June/95......July/144........Aug/159/235

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

........................................May/148....June/153.....July/157........Aug/159

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

.......................................May/220....June/225.....July/205......Aug/215

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

.......................................May/164.....June/158.....July/165.......Aug/170

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

.......................................May/190.....June/189....July/190.......Aug/200

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

......................................May/105......June/99......July/123.......Aug/100

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

......................................May/180.....June/188.....July/195.......Aug/212

You can judge for yourselves about the state of our local real estate marketplace. These numbers seem to indicate that we have home sales resting on a plateau as far as prices are concerned. No wild swings lower nor swings higher. Interestingly, the median prices are not significantly changed from where they were in 2010. We can hope that this is a market that has found its "bottom" and will be ready for a change when the economy posts some positive numbers in other areas, particularly jobs and new construction.

Tracking the Units sold - January thru August 2011

2011-09-13T08:25:00.000-07:00

August 13, 2011
For those of you who follow the real estate market, here are the numbers for the units reported sold each month through the CRMLS for 2011.
Banning/Beaumont.........Jan/93.......Feb/84.......Mar/147......Apr/129
.........................................May/121.....June/147....July/152......Aug/114
Bloomington....................Jan/25.......Feb/15........Mar/20.......Apr/32
.........................................May/11.......June/32......July/25........Aug/18
Colton..............................Jan/42.......Feb/36........Mar/28.......Apr/44
........................................May/46.......June/35......July/49........Aug/50
Fontana...........................Jan/212......Feb/177......Mar/165......Apr/246
........................................May/211.....June/287.....July/228.....Aug/239
Grand Terrace................Jan/6.........Feb/9...........Mar/11........Apr/10
........................................May/8.........June/13.......July/10........Aug/11
Highland........................Jan/47........Feb/37.........Mar/58.......Apr/58
.......................................May/56.......June/54.......July/55........Aug/62
Loma Linda...................Jan/22........Feb/12.........Mar/15........Apr/12
.......................................May/22.......June/18.......July/14........Aug/15
Mentone........................Jan/5...........Feb/6..........Mar/12........Apr/4
......................................May/11.........June/7.........July/11.........Aug/6
Moreno Valley..............Jan/191........Feb/159.......Mar/273......Apr/246
......................................May/232......June/269....July/249......Aug/253
Redlands......................Jan/54..........Feb/44........Mar/55........Apr/67
.....................................May/67.........June/75.......July/56........Aug/78
Rialto...........................Jan/104........Feb/66.........Mar/132......Apr/116
.....................................May/108.......June/116......July/111.......Aug/121
Riverside.....................Jan/309........Feb/257.......Mar/368......Apr/383
....................................May/418........June/398.....July/371.......Aug/451
San Bernardino..........Jan/289........Feb/141........Mar/213.......Apr/220
....................................May/202.......June/230.....July/197.......Aug/192
Yucaipa/Calimesa.....Jan/50..........Feb/41..........Mar/66........Apr/58
....................................May/50.........June/68.......July/49.........Aug/78
Just a reminder that units close usually about 60 days after the purchase agreement has been accepted by a seller. If you notice, February numbers are down and that is probably a reflection of the drop off in sales activity in December. Typically the holidays are not busy real estate times.

Closed Transactions - August 2011-2003

2011-09-12T08:01:00.000-07:00

September 12, 2011

It is interesting to note that in the fourteen communities of the Inland Empire that I track, the number of closed single family sales is very similar to the number in 2010. I post the numbers for the month of August as they are reported though the CRMLS.

Banning/Beaumont........2011/114......2010/101......2009/146......2008/111

.........................................2007/62......2006/94.......2005/111.......2004/93

.........................................2003/92

Bloomington...................2011/18........2010/23.......2009/36........2008/23

........................................2007/4.........2006/18.......2005/35........2004/24

........................................2003/17

Colton.............................2011/50.......2010/48........2009/61........2008/45

........................................2007/25......2006/56........2005/48.......3004/48

........................................2003/46

Fontana..........................2011/239.....2010/267......2009/345......2008/288

........................................2007/79......2006/254.....2005/301.......2004/230

........................................2003/216

Grand Terrace...............2011/11........2010/10........2009/5...........2008/12

........................................2007/11.......2006/10.......2005/13.........2004/11

........................................2003/10

Highland........................2011/62......2010/53........2009/60........2008/54

........................................2007/30....2006/60.......2005/61.........2004/66

........................................2003/57

Loma Linda...................2011/15.......2010/16........2009/18........2008/14

.......................................2007/10.....2006/21........2005/15.........2004/14

.......................................2003/11

Mentone........................2011/6........2010/13........2009/7...........2008/6

.......................................2007/5.......2006/8.........2005/5...........2004/7

......................................2003/13

Moreno Valley..............2011/253....2010/259.....2009/377.......2008/388

......................................2007/88.....2006/259....2005/311........2004/307

......................................2003/253

Redlands......................2011/78......2010/59........2009/65........2008/50

......................................2007/52....2006/70.......2005/84........2004/81

.....................................2003/91

Rialto...........................2011/121.....2010/138......2009/164......2008/117

.....................................2007/31......2006/101......2005/121......2004/117

.....................................2003/92

Riverside.....................2011/451.....2010/396......2009/486.....2008/468

.....................................2007/168....2006/388.....2005/507.....2004/380

.....................................2003/444

San Bernardino..........2011/192.....2010/215.......2009/339.....2008/214

.....................................2007/93.....2006/212......2005/259.....2004/246

.....................................2003/219

Yucaipa/Calimesa......2011/78......2010/49.......2009/50........2008/56

.....................................2007/43.....2006/76......2005/74.........2004/84

.....................................2003/62

It is interesting to note the large drop in volume between August 2006 and August 2007. I do not see such a radical decrease in sales occurring this year . Tomorrow I will post the numbers for each month of 2011 for your information.

...

Fall Cleaning Assistance - Electronics and Doc Shred

2011-09-09T09:07:00.000-07:00

September 9, 2011

This weekend those of you who are seriously wanting to get rid of your "stuff" will have assistance from some free sites to take "hard to dispose of" items.

On Saturday and Sunday from 9 a.m. to 4 p.m. you can bring your electronic waste to the Redlands Mall in the area in front of the former Gottschalk's. Electronic waste such as old computers, cell phones, radios, TVs, clocks, coffee makers, etc. cannot be put into regular trash collection. The opportunity to take it to an authorized collector and have free disposal makes your fall cleaning much simpler.

Also, The Press Enterprise newspaper publisher is sponsoring a Community shred day on Saturday from 9 a.m. to 2 p.m. at the Walgreen store, 24503 Yucaipa Blvd in Yucaipa. Bring your papers and documents to be securely destroyed for free. There is no limit posted.

It may require some patience and some waiting in line at both of these free opportunities, but some fun activities may be provided while you wait.

Fall Cleaning - Getting Rid of "Stuff"

2011-09-08T08:45:00.000-07:00

September 8, 2011

As someone who has managed the selling of parents' homes and as a real estate agent has watched folks sort through the accumulation of "stuff", I know that it is difficult to decide what to keep and what to let go of.

Choosing how to dispose of your "stuff" is also a big decision. Do you hold a garage sale? Do you put it on Craigslist? Do you put it in the local Green Sheet?

Do you call a family gathering and have a "give-away" party?

Sorting and cleaning on an annual basis can alleviate some of the stress of a major all-at-once disposal.

Folks who move frequently are more into the "don't save" mode. However, folks who have remained in the same home for 20 years or more have more of a challenge.

In a way, sorting and cleaning and disposing is like solving a puzzle. This pile goes to charity. This pile goes to the junkyard. This pile goes to hazardous waste. This pile is for the family to sort.

It can be useful to have a reseller or appraiser check out some of your "stuff". They can let you know approximate values so you don't dispose of "stuff" that could be sold.

Sooner or later the sorting will need to be done. Why not begin this fall?

Hot, Dry Weather Brings Wildfire Season

2011-09-07T08:07:00.000-07:00

September 7, 2011

Even though our summer was not outstandingly hot, it was dry. One can just look around and see that our mountains and valleys are brown rather than green. As homeowners who live adjacent to open spaces, it is important for us to be cognizant of possible fire hazards.

Check out your roof. Hopefully it is of a non combustible or fire resistant material such as cement tile. Look to see if the valleys and the roof have a build up of leaves, small branches and just an accumulation of dust. Sparks flying from a nearby fire could easily ignite these very dry and flammable particles. Sweep them away and while your at it clean out your rain gutters.

Check your chimney's screen or spark arrestor. Has it deteriorated over time? Make sure it is in good shape. While your checking the spark arrestor hire a chimney sweep and clean out the accumulation of soot and other residue from your lovely fire place.

If you keep a supply of firewood on your property, store it away from any structures.

Clear a 30 foot noncombustible firebreak around your property if it abuts undeveloped land and brush.

Small preventative steps can mean the difference between safety and disaster.

Homestead Declaration

2011-09-06T08:27:00.000-07:00

September 6, 2011

Frequently a new homeowner will receive an official looking letter that refers to the recording of a "Homestead Declaration". The sender will, for a fee, record such a declaration for you. As real estate agents we receive calls from our new buyers questioning whether they must comply with the request. The answer is "No, there is no requirement to file a homestead declaration in the state of California."

However, a homeowner may want to record the homestead declaration. So what exactly is this document?

California's homestead law is a debtor protection law. It allows debtors and their families to remain in the home in some situations even when the sale of the home would pay off the creditors. It does not protect a homeowner from debt created when the home is used as security for a loan(s). Foreclosure proceedings are not subject to the homestead declaration. Nor is the homeowner from debts of alimony, child support, mechanics liens and certain taxes.

For detailed information about California's homestead law, you can google "California Homestead Law" and look into the details. If you seriously would like to record such an exemption, call the real estate agent who sold the property to you. They can guide you with the proper filing.

Labor Day - 2011

2011-09-05T08:53:00.000-07:00

September 5, 2011

Today is the federal holiday known as "Labor Day". This holiday began in New York state in 1882 and was meant to be a celebration and recognition of the contribution of trade unions to the economy of the United States. Parades and speeches were held and workers were given a holiday from work. Through the ensuing years the holiday has changed. It is now considered the unofficial end of summer and the return to school by students and teachers.

2011 has been the year that joblessness became a major theme for politicians and for the unions themselves. How to create more jobs is the focus of this Labor Day.

We celebrate with fewer parades and with the speeches coming later in the week. Labor Day 2011 appears as a more somber celebration.

Moon Over Museum

2011-09-02T08:28:00.000-07:00

September 2, 2011

The San Bernardino County Museum will be hosting the members of the San Bernardino Valley Amateur Astronomers on Saturday, September 3 from 7:30 to 9 p.m.

The members will be bringing their telescopes ranging from refractors to reflectors to "compound" optics. The members share their telescopes for viewing the moon and the entire cosmos.
This moon party is free and is suitable for all ages. A great opportunity for families to learn more about the universe in which we live. The members are looking forward to being able to see an incredible amount of surface detail.

Check for yourselves and you will have "moon knowledge" when you see the movie, Apollo 18 which is being released this weekend.