Condominiums and townhomes may offer the best real estate bargains for entry-level home buyers and investors in 2011. Monthly payments to purchase a condominium is likely less than rent for a comparable apartment and inventory is plentiful.  In California's Inland Valley cities of Chino, Fontana, LaVerne, Montclair, Ontario, Pomona, Rancho Cucamonga and Upland, about 250 condominiums and townhomes are listed for $150,000 or less. 

How much less? You could buy a 2-bedroom condo for less than $40,000 in Fontana, $56,700 in Ontario, $71,000 in Pomona, $79,900 in Chino or Rancho Cucamonga, $89,900 in Upland, or $99,999 in Montclair. In Claremont, the lowest-priced 2-bedroom condominium is listed for sale at $249,000. 

Being part of a Home Owner Association (HOA) has many advantages. Rules and regulations protect the value of your home. Sharing the cost of installing and maintaining a pool, tennis court, and/or gated driveway makes those amenities more affordable. A majority of home owners must agree to any special assessment or increase in the monthly HOA fees. 

If you are thinking of buying a condominium or townhouse, call us. We'll give you tips on evaluating HOA communities and our research can help you decide whether to buy a home in a particular complex.

The Commerce Department reported today that nationwide new home sales plunged 33 percent in May and analysts and economists immediately declared buyers aren't buying homes because they can't get tax credits.

Here in Southern California's Inland Valley, sales of newly constructed homes may have dropped in May, but buyers still are eager to get pre-approved and writing offers, and sellers are getting offers. Clients in Upland got a full-price offer from well-qualified buyers 10 days after listing their home in May; escrow closes in early July.

What's down is inventory.

When home prices dropped, builders halted new construction projects. With typical mortgage payments half what they were at the 2006 peak of the California market, buying a home - new or previously owned, now makes a lot of sense to renters and "move-up" home buyers alike. Investor and cash buyer activity remained above average in May, according to DataQuick Information Systems.  

Mortgage interest rates are also down.

Yes, you have to have a good credit history and be able to make the monthly payments. That's a good thing. When "stated income" and interest-only loans were fueling housing debt, the idea of limiting mortgage payments to about 25 percent of monthly income was deemed old-fashioned by many. It makes a lot more sense these days.

We've developed a 5-Step Process Home Purchase Plan, which can be viewed at www.ilajosephs.com. If you're planning to buy a home, I can help you - call or e-mail me to get started.  

Upland CA median home prices showed a gain over median prices in April 2009, according to DataQuick, which compiles statistics from county records. 

The service reported that 23 Upland homes in Zip Code 91784 sold during the month of April 2010, with a median price of $510,000, up from the March 2010 median price of $468,000; no condominiums in that Zip Code were reported sold in April. Single-family home sales in Zip Code 91784 were up 17.4 percent from April 2009, when the median home price was $434,000. 

In Upland Zip Code 91786, 32 homes were sold in April 2010, with a median price of $293,000, down from the March 2010 median sales price of $294,000, according to DataQuick; six condominium sales were reported sold in April, with a median price of $200,000. Single-family home sales in Zip Code 91786 rose 8.8 percent over sales in April 2009, when the median price was $270,000, the DataQuick report said. 

Nineteen Upland homes were added to those listed for sale during the week ending May 30, 2010, according to the Inland Multi-Regional Multiple Listing Service. 

A total of 185 Upland homes were listed for sale in the MLS on May 30. Included are 125 single-family homes. There were 60 condominiums, townhomes and single-family homes in home owner associations listed for sale in Upland on May 30. The total number of Upland homes in escrow was 100. 

The MLS showed 100 standard listings and 21 foreclosed ( Real Estate Owned) homes listed in Upland on May 30; 50 others were in pre-foreclosure - listed as "in foreclosure," Notice of Default or Short Pay/Subject to Lender approval and 14 were probate listings or not identified by type of sale. 

Seven Upland homes were reported in the MLS as sold in the week ending May 30, 2010.

Ila Josephs, a Realtor with Tarbell, Realtors, prepares weekly reports for her website, www.ilajosephs.com, surveying  home market activity in the Inland Empire cities of Chino, Claremont, Fontana, La Verne, Montclair, Ontario, Pomona, Rancho Cucamonga, and Upland. For more information, call Ila at (909) 261-3541.

Rancho Cucamonga CA median home prices showed a gain over median prices in April 2009 in Zip Codes 91701 and 91730, but a drop from April 2009 prices in Zip Codes 91737 and 91739, according to DataQuick, which compiles statistics from county records, and - when compared to March 2010 - fell in three of the four Zip Codes, according to DataQuick reports. 

The service reported that 32 Alta Loma homes in Zip Code 91701 sold during the month of April 2010, with a median price of $319,000, down from the March 2010 median price of $350,000; two condominiums were sold in April, with a median price of $181,000. Single-family home sales in Zip Code 91701 were up 4.2 percent from April 2009, when the median home price was $306,000. 

In Rancho Cucamonga Zip Code 91730, 54 homes were sold in April 2010, with a median price of $291,000, up from the March 2010 median sales price of $280,000, according to DataQuick; 19 condominium sales were reported sold in April, with a median price of $187,000. Single-family home sales in Zip Code 91730 rose 2.1 percent over sales in April 2009, when the median price was $285,000, the DataQuick report said.

In Rancho Cucamonga Zip Code 91737, 15 homes were sold in April 2010, with a median price of $375,000, down from the March 2010 median sales price of $397,000, according to DataQuick; seven condominiums were reported sold, with median price of $100,000. Single-family home sales in Zip Code 91737 in April were down 6.3 percent from April 2009, when the median price was $400,000, the DataQuick report said.

In Rancho Cucamonga Zip Code 91739, 53 homes were sold in April 2010, with a median price of $399,000, down from the March 2010 median sales price of $449,000, according to DataQuick; seven condominiums were reported sold, with median price of $218,000. Single-family home sales in Zip Code 91739 in April were down 1.5 percent from April 2009, when the median price was $405,000, the DataQuick report said. 

A total of 57 Rancho Cucamonga homes were added to those listed for sale during the week ending May 30, 2010, according to the Inland Multi-Regional Multiple Listing Service. 

There were 391 Rancho Cucamonga homes listed for sale in the MLS on May 30. Included are 261 single-family homes. There were 30 condominiums, townhomes and single-family homes in home owner associations listed for sale in Rancho Cucamonga on May 30. The total number of homes in escrow was 345. 

The MLS showed 137 standard listings and 66 foreclosed, or Real Estate Owned, homes listed in Rancho Cucamonga on May 30; 174 others were in pre-foreclosure - listed as "in foreclosure," Notice of Default or Short Pay/Subject to Lender approval - and 14 were probate listings or not identified by type. 

There were 29 Rancho Cucamonga homes reported in the MLS as sold in the week ending May 30. 

Ila Josephs, a Realtor with Tarbell, Realtors, prepares weekly reports for her website, www.ilajosephs.com, surveying home market activity in the Inland Empire cities of Chino, Claremont, Fontana, La Verne, Montclair, Ontario, Pomona, Rancho Cucamonga, and Upland. For more information, call Ila at (909) 261-3541.

Pomona CA median home prices showed a gain over median prices in April 2009 in all Zip Codes, according to DataQuick, which compiles statistics from county records, and - compared to March 2010 - rose in Zip Codes 91766 and 91768, slipping slightly in Zip Code 91767, according to DataQuick reports.

The service reported that 44 Pomona homes in Zip Code 91766 sold during the month of April 2010, with a median price of $214,000, up from the March 2010 median price of $210,000; seven condominiums were sold in April, with a median price of $165,000. Single-family home sales in Zip Code 91766 were up 34.5 percent from April 2009, when the median home price was $159,000. 

In Pomona Zip Code 91767, 50 homes were sold in April 2010, with a median price of $220,000, down slightly from the March 2010 median sales price of $221,000, according to DataQuick; six condominium sales were reported sold in April, with a median price of $250,000. Single-family home sales in Zip Code 91767 rose 7.2 percent over sales in April 2009, when the median price was $205,000, the DataQuick report said. 

In Pomona Zip Code 91768, 27 homes were sold in April 2010, with a median price of $220,000, up from the March 2010 median sales price of $205,000, according to DataQuick; two condominiums were reported sold, with median price of $145,000. Single-family home sales in Zip Code 91768 in April were up 25.7 percent from April 2009, when the median price was $175,000, the DataQuick report said. 

A total of 30 Pomona homes were added to those listed for sale during the week ending May 30, 2010, according to the Inland Multi-Regional Multiple Listing Service. 

There were 291 Pomona homes listed for sale in the MLS on May 30. Included are 215 single-family homes. There were 76 condominiums, townhomes and single-family homes in home owner associations listed for sale in Pomona on May 30. The total number of homes in escrow was 261. 

The MLS showed 106 standard listings, 40 foreclosed, or Real Estate Owned, homes listed in Pomona on May 30; 116 others were in pre-foreclosure - listed as "in foreclosure," Notice of Default or Short Pay/Subject to Lender approval and 29 were probate listings or not identified by type.                                                                                                                                

There were 20 Pomona homes reported as sold in the MLS in the week ending May 30, 2010. 

Ila Josephs, a Realtor with Tarbell, Realtors, prepares weekly reports for her website, www.ilajosephs.com, surveying home market activity in the Inland Empire cities of Chino, Claremont, Fontana, La Verne, Montclair, Ontario, Pomona, Rancho Cucamonga, and Upland. For more information, call Ila at (909) 261-3541.

Ontario CA median home prices showed a gain over median prices in April 2009 in all Zip Codes, according to DataQuick, which compiles statistics from county records, and - compared to March 2010 - rose in Zip Code 91761, falling in Zip Codes 91762 and 91764, according to the DataQuick report. 

The service reported that 25 Ontario homes in Zip Code 91761 sold during the month of April 2010, with a median price of $267,000, up from the March 2010 median price of $246,000; six condominiums were sold in April, with a median price of $100,000. Single-family home sales in Zip Code 91761 were up 11.7 percent from April 2009, when the median home price was $239,000. 

In Western Ontario Zip Code 91762, 36 homes were sold in April 2010, with a median price of $210,000, down from the March 2010 median sales price of $235,000, according to DataQuick; 18 condominium sales were reported sold in April, with a median price of $122,000. Single-family home sales in Zip Code 91762 rose 5 percent over sales in April 2009, when the median price was $200,000, the DataQuick report said. 

In Eastern Ontario Zip Code 91764, 26 homes were sold in April 2010, with a median price of $188,000, according to DataQuick; nine condominiums were reported sold, with median price of $166,000. Single-family home sales in Zip Code 91764 in April were up 9.2 percent from April 2009, when the median price was $174,000, the DataQuick report said. 

Thirty-seven Ontario homes were added to those listed for sale during the week ending May 30, 2010, according to the Inland Multi-Regional Multiple Listing Service.

A total of 358 Ontario homes were listed for sale in the MLS on May 30. Included were 225 single-family homes. There were 133 condominiums, townhomes and single-family homes in home owner associations listed for sale in Ontario on May 30. The total number of homes in escrow was 309. 

The MLS showed 79 standard listings and 66 foreclosed, or Real Estate Owned, homes listed in Ontario on May 30; 195 others were in pre-foreclosure - listed as "in foreclosure," Notice of Default or Short Pay/Subject to Lender approval and 18 listings were probate listings or not identified by type. 

There were 25 Ontario homes reported in the MLS as sold in the week ending May 30, 2010.

Ila Josephs, a Realtor with Tarbell, Realtors, prepares weekly reports for her website, www.ilajosephs.com, surveying home market activity in the Inland Empire cities of Chino, Claremont, Fontana, La Verne, Montclair, Ontario, Pomona, Rancho Cucamonga, and Upland. For more information, call Ila at (909) 261-3541.

The Montclair CA median home price rose in April, compared to March 2010, and was significantly higher than in April 2009, according to DataQuick, which compiles statistics from county records. 

The service reported that 20 homes sold during the month of April 2010, with a median price of $241,000, up from a median home sales price of $209,000 in March 2010; five condominiums were sold in April, with a median price of $150,000. Single-family home sales were up 12.2 percent from April 2009, when the median home price was $215,000, according to the DataQuick report.

Ten Montclair homes were added to those listed for sale during the week ending May 30, 2010, according to the Inland Multi-Regional Multiple Listing Service. 

A total of 59 Montclair homes were listed for sale in the MLS on May 30. Included are 50 single-family homes. There were nine condominium and, townhomes listed for sale in Montclair on May 30. The total number of homes in escrow was 51.

The MLS showed 19 standard listings and nine foreclosed, or Real Estate Owned, homes listed in Montclair on May 30; 28 others were in pre-foreclosure - listed as "in foreclosure," Notice of Default or Short Pay/Subject to Lender approval, and three were listed as probate sales or not identified by type.

There were seven Montclair homes reported in the MLS as sold in the week ending May 30, 2010. 

Ila Josephs, a Realtor with Tarbell, Realtors, prepares weekly reports for her website, www.ilajosephs.com, surveying home market activity in the Inland Empire cities of Chino, Claremont, Fontana, La Verne, Montclair, Ontario, Pomona, Rancho Cucamonga, and Upland. For more information, call Ila at (909) 261-3541.

The La Verne CA median home price fell in April, compared to March 2010, and was down significantly from April 2009, according to DataQuick, which compiles statistics from county records. 

The service reported that 17 homes sold during the month of April 2010, with a median price of $419,000, down from a median home sales price of $465,000 in March 2010; eight condominiums were sold in April, with a median price of $347,000. Single-family home sales were down 11.3 percent from April 2009, when the median home price was $475,000, according to the DataQuick report.

Six La Verne homes were added to those listed for sale during the week ending May 30, 2010, according to the Inland Multi-Regional Multiple Listing Service. 

A total of 94 La Verne homes were listed for sale in the MLS on May 30. Included are 63 single-family homes. There were 31 condominiums, townhomes and single-family homes in home owner associations listed for sale in La Verne on May 30. The total number of homes in escrow was 38. 

The MLS showed 54 standard listings and eight foreclosed, or Real Estate Owned, homes listed in La Verne on May 30; 22 others were in pre-foreclosure - listed as "in foreclosure," Notice of Default or Short Pay/Subject to Lender approval and 10 were listed as probate sales or not identified by type. 

Six La Verne homes were reported as sold in the MLS in the week ending May 30, 2010. 

Ila Josephs, a Realtor with Tarbell, Realtors, prepares weekly reports for her website, www.ilajosephs.com, surveying home market activity in the Inland Empire cities of Chino, Claremont, Fontana, La Verne, Montclair, Ontario, Pomona, Rancho Cucamonga, and Upland. For more information, call Ila at (909) 261-3541.

Fontana CA median home prices showed a gain over median prices in April 2009, according to DataQuick, which compiles statistics from county records, and - compared to March 2010 - rose in Zip Codes 92336 and 92337, but slid in Zip Code 92335 in April.

The service reported that 70 Fontana homes in Zip Code 92335 sold during the month of April 2010, with a median price of $140,000; seven condominiums were sold in April, with a median price of $55,000. Single-family home sales in Zip Code 92335 were up 11.6 percent from April 2009, when the median home price was $127,000.

In North Fontana Zip Code 92336, 127 homes were sold in April 2010, with a median price of $280,000, according to DataQuick; no condominium sales were reported. Single-family home sales in 92336 rose 6.9 percent over sales in April 2009, when the median price was $262,000, the DataQuick report said.

In South Fontana Zip Code 92337, 59 homes were sold in April 2010, with a median price of $203,000, according to DataQuick; 1 condominium was reported as sold at $96,000. Single-family home sales in Zip Code 92337 in April were up 5.2 percent from April 2009, when the median price was $192,000, the DataQuick report said.

A total of 67 Fontana homes were added to those listed for sale during the week ending May 30, 2010, according to the Inland Multi-Regional Multiple Listing Service. 

There were 597 Fontana homes listed for sale in the MLS on May 30. Included were 546 single-family homes. There were 51 condominiums, townhomes and single-family homes in home owner associations listed for sale in Fontana on May 30. The total number of homes in escrow was 713. 

The MLS showed 116 standard listings and117 foreclosed, or Real Estate Owned, homes listed in Fontana on May 30; 333 others were in pre-foreclosure - listed as "in foreclosure," Notice of Default or Short Pay/Subject to Lender approval and 31 were listed as probate or not identified by type. 

There were 58 Fontana homes reported in the MLS as sold during the week ending May 30, 2010. 

Ila Josephs, a Realtor with Tarbell, Realtors, prepares weekly reports for her website, www.ilajosephs.com, surveying home market activity in the Inland Empire cities of Chino, Claremont, Fontana, La Verne, Montclair, Ontario, Pomona, Rancho Cucamonga, and Upland. For more information, call Ila at (909) 261-3541.

The Claremont CA median home price fell in April, compared to March 2010, and was down significantly from April 2009, according to DataQuick, which compiles statistics from county records. 

The service reported that 24 homes sold during the month of April 2010, with a median price of $450,000, down from a median home sales price of $462,000 in March 2010; nine condominiums were sold in April, with a median price of $385,000. Single-family home sales were down 17.4 percent from April 2009, when the median home price was $545,000, according to the DataQuick report. 

Six Claremont homes were added to those listed for sale during the week ending May 30, 2010, according to the Inland Multi-Regional Multiple Listing Service. 

A total of 101 Claremont homes were listed for sale in the MLS on May 30. Included were 72 single-family homes. There were 29 condominiums, townhomes and single-family homes in home owner associations listed for sale in Claremont on May 30.  The total number of Claremont homes in escrow was 43. 

The MLS showed 70 "standard" sales and eight foreclosed, or Real Estate Owned, homes listed in Claremont on May 30; 13 others were in pre-foreclosure - listed as "in foreclosure," Notice of Default or Short Pay/Subject to Lender approval and 10 were listed as probate sales, or not identified by type. 

Six Claremont homes were reported in the MLS as sold during the week ending May 30, 2010.

Ila Josephs, a Realtor with Tarbell, Realtors, prepares weekly reports for her website, www.ilajosephs.com, surveying home market activity in the Inland Empire cities of Chino, Claremont, Fontana, La Verne, Montclair, Ontario, Pomona, Rancho Cucamonga, and Upland. For more information, call Ila at (909) 261-3541.