Market Update : arlington real estate

CNN Says Housing Market may be Stabilizing!

Liane Thomas — Sun, 05 Jul 2009 21:20:00 GMT

CNN is searching for a bottom in the housing market

With consumer confidence rising in May to its highest level in eight months, housing starts increasing more than 17 percent in May compared with the previous month, and sales of existing homes climbing 2.9 percent in April nationwide, it appears that the housing market may be stabilizing.

So what does that mean to you?

Although sales of existing, single-family homes rose 35.2 percent in May in California, compared with a year ago, the median price declined 30.4 percent during that same year. Some industry analysts predict that as specialized adjustable-rate mortgages, known as option ARMS and Alt-A mortgages, reset over the next 18 to 24 months, prices could decline further before stabilizing.

"We are seeing strong buying activity, particularly in those boom and bust markets, where prices have declined significantly. Buyers are coming in and fighting over properties -- there is multiple bidding in California and Florida," says Lawrence Yun, chief economist with the NATIONAL ASSOCIATION OF REALTORS(R).

Sales of existing homes are soaring as many investors and first-time buyers purchase distressed properties. Yun estimates that about 50 percent of current sales involve distressed properties, and he expects the trend to continue as foreclosures rise in the months ahead.

Although some economists predict home prices will continue to decline in the coming months, California'ss median home price rose for the third consecutive month in May, posting the largest monthly increase on record for the month of May.

Some buyers are trying to time the bottom of the market and purchase once it appears that prices are consistently and steadily rising. Many housing forecasters advise against this approach as buyers should not view their homes solely as investment opportunities. Historically, the average annual rate of return on a home lived in for five years or more is nearly 12 percent, based on data C.A.R. has collected over the last 40 years.

If you are thinking of selling your home, now is an excellent time with low inventory and the seasonal spike we get this time of year. Even if you are underwater on your home, like so many families, we'd like to help you find a solution. Call for a free consultation. Thanks!

Liane Thomas, REALTOR(R), CDPE
The Thomas Group, Keller Williams Realty
Serving Corona, Norco, Riverside, and Surrounding Communities
www.AllCoronaHomes.com
951 454-3805

California Running Out of $10,000 Tax Credits for New Homes

Liane Thomas — Sat, 20 Jun 2009 09:56:00 GMT

First-time home buyers wanting to take advantage of the state's $10,000 tax credit may have less time than originally expected. California set aside $100 million to help home buyers purchase newly built homes, hoping to jump start the residential-construction market. According to state officials, the tactic has worked well and is helping to entice home buyers into the market. However, there only is approximately 20 percent of the program?s funding remaining.

The program launched in March, and as of June 3 nearly $24 million in tax credit certificates already had been issued, according to the state's Franchise Tax Board, leaving nearly $76 million in credit available. Many applications still are in the pipeline awaiting approval. If all of the submitted applications are approved, only $17.5 million would remain in the fund.

The California state legislature is considering adding another $200 million to the program. However, securing approval may be difficult due to the state's estimated $24 billion budget deficit. A bill to extend the program already has won Assembly approval and now is awaiting activity in the state Senate.

So what does this mean to you? If you are considering buying a new home, you need to move fast! If you are a first time home buyer you, and you have completed the home buying process before 12/1/09, you could cash in on a much as $18,000 in tax credits. Need help finding you home? Call or email us! We offer a free service to get you in touch with a professional in your area who will help you find you home AND secure your tax credit!

Thanks!

Information provided by:
Liane Thomas, REALTOR(R), CDPE
The Thomas Group, Keller Williams Realty
Serving Corona, Riverside, Norco, and surrounding communities
www.AllCoronaHomes.com
www.FreeRiversideHomeSearch.com
951.454.3805

New 90 Day Foreclosure Rule in California

Liane Thomas — Thu, 18 Jun 2009 00:02:00 GMT

Recent news headlines have caused confusion by mischaracterizing the new California Foreclosure Prevention Act as a 90-day moratorium and incorrectly stating that the lender must modify delinquent loans before it begins foreclosure. In reality, the foreclosure process for certain owner-occupied residential first trust deeds has been extended by 90 days, effective June 15, but an exemption is available for lenders with comprehensive loan
modification programs as defined by the Act.

Under pre-existing law, a lender must wait three months after filing a notice of default before it can file a notice of sale. The new California Foreclosure Prevention Act extending that time frame by another 90 days may not have much practical impact.

So what does that mean to you? If you find yourself unable to make your monthly payment, first, call your loan servicer. The phone number should be on your payment coupons. Ask first for the Home Retention or Loan Modification Department. Then honestly explain your situation. Ask them to help you keep your home. Your loan servicer will not charge you for this service.

If you cannot get your loan modified, please call me. As a Certified Distressed Propery Expert, I can help you figure out what to do next. Foreclosure is not your only option.

Thanks,

Liane Thomas, REALTOR(R), e-PRO, CDPE
The Thomas Group, Keller Williams Realty
Serving Corona, Norco, Riverside and surrounding communities
www.AllCoronaHomes.com
www.FreeRiversideHomeSearch.com
951.454.3805

Home Sales Jump ~ April 2009

Liane Thomas — Tue, 02 Jun 2009 19:02:00 GMT

Pending US Home Sales Surge

Pending US home sales skyrocketed to their highest number in 7 years, a sure sign that the bottom is forming and that bargain seekers have arrived. The National Association of Realtors reported that its seasonally adjusted index of sales contracts signed (the Pending Home Sales Index) jumped 6.7% to 90.3, well ahead of analysts' expectations. Lawrence Yun, NAR chief economist, said buyers have responded to favorable market conditions. "Housing affordability conditions have been at historic highs, but now the $8,000 first-time buyer tax credit is beginning to impact the market," he said. "Since first-time buyers must finalize their purchase by November 30 to get the credit, we expect greater activity in the months ahead, and that should spark more sales by repeat buyers."

So what does that mean to you? If you want to sell your home, this is probably the best time since 2006. Call me for a no obligation consultation to find out what your house is worth in todays market. We can help you sell your home fast, even if you owe more than your home is worth!

If you are considering buying a home, you MUST close escrow before the end of November to cash in on the tax credit. That means you need to be in escrow by September, and that means you need to be looking for a home TODAY! Please take advantage of this awesome opportunity pass you by!

Brought to you by:
Liane Thomas, REALTOR(R)
The Thomas Group, Keller Williams Realty
951.454.3805
www.AllCoronaHomes.com
www.FreeRiversideHomeSearch.com

Why this may be the BEST time to upgrade to your dream home!

Liane Thomas — Fri, 01 May 2009 15:04:00 GMT

Here are the top five reasons current home owners should consider upgrading to their dream home:

1. Interest rates are at historic lows, which means you can buy more house than you could a year ago - for the same monthly mortgage payment.

2. Prices have come down. Even if your current home is worth less than during the last housing market peak, your dream home is likely more affordable too.

3. There are plenty of homes on the market right now, both new construction and existing, giving you lots of choice-and negotiating power.

4. You can move in to your new home faster, as many builders either have completed homes in inventory or they can start work right away due to the production slowdown.

5. You may have outgrown your home, but it’s probably someone else’s ideal starter home. With the $8,000 tax credit expiring Nov. 30, now is the time to market your home to first-time buyers.

Have questions? Please call or visit our website..

Liane Thomas
The Thomas Group, Keller Williams Realty
1860 Compton Ave
Corona, Ca. 92881
951.454.3805
www.AllCoronaHomes.com
www.FreeRiversideHomeSearch.com

Breaking News! Home Sales Up in California in March 2009!

Liane Thomas — Sat, 18 Apr 2009 16:54:00 GMT

An estimated 36,215 new and existing homes and condos sold in California last month, a 23.9% month-on-month increase from February and 47.4% year-on-year increase from March 08, according to a report published Thursday by San Diego-based MDA DataQuick Information Systems. March marked the ninth consecutive month of year-over-year sales inclines.
Sales prices continue to slip in the Golden State, however, with March posting a median sales price of $233,000 — 0.4% below February’s median and 37.7% below the year-ago median seen in March 08. DataQuick attributed the drop to the work of depreciation in concert with shifts in the types of homes sold toward foreclosure properties. Real estate-owned (REO) properties accounted for 57.4% of monthly sales in March, up from 35.5% in March ‘08.
California home buyers in March committed to an average mortgage payment of $958, 44% below the average payment entered in March ‘08, 63.1% below the latest bubble’s June 2006 peak and the lowest average monthly payment, adjusted for inflation, reported in DataQuick’s statistics, which track information back to 1988.
“Indicators of market distress continue to move in different directions,” say DataQuick researchers. “Foreclosure activity is nearing its 2008 peak, while financing with adjustable-rate mortgages is at an all-time low, as is financing with multiple mortgages.”
Source: HousingWire.com
So what does this mean to you? If you are considering selling, it is very likely we will find a buyer for your home fast! Short sales welcome, please call us for a free, no obligation, consultation.
Liane Thomas, REALTOR(R)
The Thomas Group, Keller Williams Realty
951 454-3805 cell
www.AllCoronaHomes.com
Serving Corona, Riverside, and surrounding areas

Single Story For Sale in Arlington

Liane Thomas — Thu, 15 Nov 2007 15:02:00 GMT

Priced for Fast Sale!

• 1,428 sq. ft., 2 bath, 4 bdrm single story - MLS® #P595512 $340,000 - Pool Home in Riverside!

Arlington, Riverside - Large Single Story Pool Home On Corner Lot! Quiet, Tree Lined Street. Home Has Newer Carpet, Paint, And Newer Dual Paned Windows With Custom Window Blinds. There Are 4 Roomy Bedrooms, And The Master Bedroom Has 2 Closets and a private bath with full body shower. The Kitchen Is Big, And Has A Dishwasher And Trash Compactor. Covered Patio Out Back Overlooks The Pool Area, Great Set Up For Entertaining Or Large Family Parties. RV parking possible. Save Money With A Low Tax Rate And No Hoa Fees. Schedule Your Visit Today!

Property information

Open House in Riverside on Sunday

Liane Thomas — Thu, 08 Nov 2007 02:20:00 GMT

Arlington, Riverside - We invite everyone to visit our open house at 4382 Shelby Drive on November 11 from 12:00 PM to 3:00 PM. The price has been slashed to $340,000, and seller wants to see all offers!

Property information

Open House in Arlington, Riverside, on Sunday

Liane Thomas — Thu, 08 Nov 2007 02:19:00 GMT

Arlington, Riverside - We invite everyone to visit our open house at 4673 Toyon Road on November 11 from 12:00 PM to 3:00 PM. The price of this home has been slashed to $315,000 for a fast sale!

Property information

Price Reduced on 4673 Toyon Road in Arlington

Liane Thomas — Thu, 08 Nov 2007 02:17:00 GMT

Arlington, Riverside - Announcing a hige price reduction on 4673 Toyon Road, a 1,119 sq. ft., 2 bath, 3 bdrm single story. Now MLS® #K07122479 $315,000 - Nice Price! Open House Sunday November 11th, bring your check book! Owner wants this one sold NOW!

Property information

Price Reduced on 4673 Toyon Road in Arlington

Liane Thomas — Tue, 30 Oct 2007 01:11:00 GMT

Arlington, Riverside - Announcing a price reduction on 4673 Toyon Road, a 1,119 sq. ft., 2 bath, 3 bdrm single story. Now MLS® #K07122479 $330,000 - Nice Price! Seller has picked the new house and is motovated!

Property information

Price Reduced on 4382 Shelby Drive in Arlington

Liane Thomas — Tue, 30 Oct 2007 01:08:00 GMT

Arlington, Riverside - Announcing a price reduction on 4382 Shelby Drive, a 1,428 sq. ft., 2 bath, 4 bdrm single story. Now MLS® #P595512 $350,000 - Nice Pool Home in Riverside! Newer carpet, pool work done recently, seller believes pool is solar heated!

Property information

Open House in Riverside on Sunday

Liane Thomas — Wed, 17 Oct 2007 20:26:00 GMT

Arlington, Riverside - We invite everyone to visit our open house at 4673 Toyon Road on October 21 from 1:00 PM to 4:00 PM.

Property information

Open House in Riverside on Saturday ~ 3 BR Pool Home $339K

Liane Thomas — Wed, 19 Sep 2007 23:58:00 GMT

Arlington, Riverside - We invite everyone to visit our open house at 4673 Toyon Road on September 22 from 11:00 AM to 2:00 PM. This is a beautiful 3 BR home with a sparkling pool, covered patio, and so much more! Completely remodeled, you gotta see this one!

Property information

Open House in Riverside on Saturday ~ 4 BR Pool Home

Liane Thomas — Wed, 19 Sep 2007 23:58:00 GMT

Arlington, Riverside - We invite everyone to visit our open house at 4382 Shelby Drive on September 22 from 11:00 AM to 2:00 PM. This is the first time this home has been on the market, and it is priced to SELL! This is a 4 BR home with covered patio and pool, close to schools, churches, shopping, and more.

Property information