Frankly Speaking

2010 was a busy year for our state legislators. And as a result there were a number of new laws crafted which affect the homeowners of California. The following is a brief synopsis of the regulations that have the greatest impact on you as a homeowner. First, it never fails to occur that once you purchase your new home, you immediately become inundated with documents offering to provide you with copies of your grant deed (for a fee), or a homestead document (for a fee). These solicitations are well crafted solicitations that cleverly mimic government documents. As a result an unsuspecting homeowner might be paying a premium price for a document he could get for free, or a service he does not need. AB1373 restricts these companies from these practices as of January 1, 2011. Next on the new law hit parade is SB 183. This law mandates a couple of things. First it requires that a Carbon Monoxide detector be installed in every unit or dwelling intended for human occupancy statewide. This ca...

One of the most difficult things to do in the real estate industry is to accurately time the market. Many have tried, many more claim to have the secret, but the truth is that no one can determine when a market has peaked or hit bottom (except by sheer luck). In fact by the time the media gets around to telling you we have hit the top (or bottom) of a real estate cycle, more often than not we are already well on our way in the other direction. And waiting (for the peak or bottom) can often cause more financial hardship then jumping in. If you will indulge me for a moment, I will explain. I have often said that the best time to sell is just before the peak. During that period, you maximize your profits while facing the least amount of competition. Remember 2007? Once the general public realized that the market had peaked, everyone who was inclined to sell listed their home. And in doing so, ran head on into the law of supply and demand. You see, when supply exceeds demand, buyers dictat...

Virtually everywhere I go, I am asked if this is a good time to buy or sell a home here in the greater Corona Norco (and now Eastvale) market. And without hesitation my answer is always the same. Yes it is. Simply stated, I believe that we are in an era where home value, affordability, inventory, and interest rates have created a perfect storm. Rarely in our history have we seen so much home, sell for so little, with interest rates that just a few short years ago could not be obtained by even the most highly qualified buyer.   In fact in many cases, the homes offered for sale today cannot be built for the price for which they are sold. Now, I know that the national media would have you feeling like the sky is still falling. But real estate unlike any other business is transacted on a local level. And, to truly understand the condition of the market we are in, you must study the transactional data of our market. Most, economist would agree that the 4 th quarter of 2007 marked the p...