Lisa's Blog

Posted: Aug 6, 2009, 10:48am PDT

Facts and Trends Corona Real Estate 92880, 92881, 92882

Lisa Seifert (Keller Williams Chino Hills) — Thu, 16 Apr 2009 18:30:19 -0500

Facts and Trends^TM
Published Apr. 2009
Location : ZIP 92880 , ZIP 92881 , ZIP 92882
Number of Homes For Sale vs. Sold
Price Range: $0 - No Limit
SQFT Range: 0 - No Limit
Single Family Homes		Prepared for you by: Lisa Seifert

	1 year	15 months
	Mar 08	Mar 09	% Change	Jan 08	Mar 09	% Change
For Sale	1057	379	-64.1%	1151	379	-67.1%
Sold	134	183	36.6%	85	183	115.3%
Pended	198	213	7.6%	99	213	115.2%

Date	1/08	2/08	3/08	4/08	5/08	6/08	7/08	8/08	9/08	10/08	11/08	12/08	1/09	2/09	3/09
For Sale	1151	1112	1057	934	869	784	757	732	700	671	632	555	510	471	379
Sold	85	85	134	165	216	215	235	243	213	241	222	208	153	127	183
Pended	99	145	198	248	240	230	224	224	230	237	176	171	167	191	213
Mon of Inv. on Sold	13.5	13.1	7.9	5.7	4.0	3.6	3.2	3.0	3.3	2.8	2.8	2.7	3.3	3.7	2.1
Mon of Inv. on Pended	11.6	7.7	5.3	3.8	3.6	3.4	3.4	3.3	3.0	2.8	3.6	3.2	3.1	2.5	1.8
Avg. Act Price	538	520	504	489	473	459	495	445	427	413	396	409	381	372	379
Avg. Sld Price	431	426	395	405	390	388	381	364	363	356	356	335	337	324	337
Avg. Sq. Ft. Price	166.63	166.66	155.75	146.67	149.66	154.12	147.58	147.48	140.49	139.53	138.75	137.07	133.5	132.22	131.15
Sold/List Diff. %	95	96	96	97	97	99	99	100	99	100	101	100	101	100	100
Days On Market	96	76	80	74	66	62	60	57	63	52	64	70	74	64	60
Median Price	415	395	395	400	384	369	375	360	360	355	355	340	333	335	330

All reports presented are based on data supplied by the MRMLS/SCMLS or their member associations/brokers. Neither the MLS nor their members are in any way responsible for their accuracy. Data maintained by the MLS or their members may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Facts and Trends^TM
Published Apr. 2009
Location : ZIP 92880 , ZIP 92881 , ZIP 92882
Average Home Sold Price per SQFT
Price Range: $0 - No Limit
SQFT Range: 0 - No Limit
Single Family Homes		Prepared for you by: Lisa Seifert

	1 year	15 months
	Mar 08	Mar 09	% Change	Jan 08	Mar 09	% Change
Avg. Sq. Ft. Price	156	131	-15.8%	167	131	-21.3%

Date	1/08	2/08	3/08	4/08	5/08	6/08	7/08	8/08	9/08	10/08	11/08	12/08	1/09	2/09	3/09
For Sale	1151	1112	1057	934	869	784	757	732	700	671	632	555	510	471	379
Sold	85	85	134	165	216	215	235	243	213	241	222	208	153	127	183
Pended	99	145	198	248	240	230	224	224	230	237	176	171	167	191	213
Mon of Inv. on Sold	13.5	13.1	7.9	5.7	4.0	3.6	3.2	3.0	3.3	2.8	2.8	2.7	3.3	3.7	2.1
Mon of Inv. on Pended	11.6	7.7	5.3	3.8	3.6	3.4	3.4	3.3	3.0	2.8	3.6	3.2	3.1	2.5	1.8
Avg. Act Price	538	520	504	489	473	459	495	445	427	413	396	409	381	372	379
Avg. Sld Price	431	426	395	405	390	388	381	364	363	356	356	335	337	324	337
Avg. Sq. Ft. Price	166.63	166.66	155.75	146.67	149.66	154.12	147.58	147.48	140.49	139.53	138.75	137.07	133.5	132.22	131.15
Sold/List Diff. %	95	96	96	97	97	99	99	100	99	100	101	100	101	100	100
Days On Market	96	76	80	74	66	62	60	57	63	52	64	70	74	64	60
Median Price	415	395	395	400	384	369	375	360	360	355	355	340	333	335	330

Facts and Trends^TM
Published Apr. 2009
Location : ZIP 92880 , ZIP 92881 , ZIP 92882
Avg DOM & SP/LP %
Price Range: $0 - No Limit
SQFT Range: 0 - No Limit
Single Family Homes		Prepared for you by: Lisa Seifert

	1 year	15 months
	Mar 08	Mar 09	% Change	Jan 08	Mar 09	% Change
Avg. Days on Market	80	60	-25%	96	60	-37.5%
Sold/List Diff. %	96	100	4.2%	95	100	5.3%

Date	1/08	2/08	3/08	4/08	5/08	6/08	7/08	8/08	9/08	10/08	11/08	12/08	1/09	2/09	3/09
For Sale	1151	1112	1057	934	869	784	757	732	700	671	632	555	510	471	379
Sold	85	85	134	165	216	215	235	243	213	241	222	208	153	127	183
Pended	99	145	198	248	240	230	224	224	230	237	176	171	167	191	213
Mon of Inv. on Sold	13.5	13.1	7.9	5.7	4.0	3.6	3.2	3.0	3.3	2.8	2.8	2.7	3.3	3.7	2.1
Mon of Inv. on Pended	11.6	7.7	5.3	3.8	3.6	3.4	3.4	3.3	3.0	2.8	3.6	3.2	3.1	2.5	1.8
Avg. Act Price	538	520	504	489	473	459	495	445	427	413	396	409	381	372	379
Avg. Sld Price	431	426	395	405	390	388	381	364	363	356	356	335	337	324	337
Avg. Sq. Ft. Price	166.63	166.66	155.75	146.67	149.66	154.12	147.58	147.48	140.49	139.53	138.75	137.07	133.5	132.22	131.15
Sold/List Diff. %	95	96	96	97	97	99	99	100	99	100	101	100	101	100	100
Days On Market	96	76	80	74	66	62	60	57	63	52	64	70	74	64	60
Median Price	415	395	395	400	384	369	375	360	360	355	355	340	333	335	330

Facts and Trends^TM
Published Apr. 2009
Location : ZIP 92880 , ZIP 92881 , ZIP 92882
Avg Price For Sale & Sold
Price Range: $0 - No Limit
SQFT Range: 0 - No Limit
Single Family Homes		Prepared for you by: Lisa Seifert

	1 year	15 months
	Mar 08	Mar 09	% Change	Jan 08	Mar 09	% Change
Avg. Active Price	504	379	-24.8%	538	379	-29.6%
Avg. Sold Price	395	337	-29.6%	431	337	-21.8%

Date	1/08	2/08	3/08	4/08	5/08	6/08	7/08	8/08	9/08	10/08	11/08	12/08	1/09	2/09	3/09
For Sale	1151	1112	1057	934	869	784	757	732	700	671	632	555	510	471	379
Sold	85	85	134	165	216	215	235	243	213	241	222	208	153	127	183
Pended	99	145	198	248	240	230	224	224	230	237	176	171	167	191	213
Mon of Inv. on Sold	13.5	13.1	7.9	5.7	4.0	3.6	3.2	3.0	3.3	2.8	2.8	2.7	3.3	3.7	2.1
Mon of Inv. on Pended	11.6	7.7	5.3	3.8	3.6	3.4	3.4	3.3	3.0	2.8	3.6	3.2	3.1	2.5	1.8
Avg. Act Price	538	520	504	489	473	459	495	445	427	413	396	409	381	372	379
Avg. Sld Price	431	426	395	405	390	388	381	364	363	356	356	335	337	324	337
Avg. Sq. Ft. Price	166.63	166.66	155.75	146.67	149.66	154.12	147.58	147.48	140.49	139.53	138.75	137.07	133.5	132.22	131.15
Sold/List Diff. %	95	96	96	97	97	99	99	100	99	100	101	100	101	100	100
Days On Market	96	76	80	74	66	62	60	57	63	52	64	70	74	64	60
Median Price	415	395	395	400	384	369	375	360	360	355	355	340	333	335	330

Facts and Trends^TM
Published Apr. 2009
Location : ZIP 92880 , ZIP 92881 , ZIP 92882
Months of Inventory Based on Closed Sales
Price Range: $0 - No Limit
SQFT Range: 0 - No Limit
Single Family Homes		Prepared for you by: Lisa Seifert

	1 year	15 months
	Mar 08	Mar 09	% Change	Jan 08	Mar 09	% Change
Months of Inventory (Closed Sales)	7.9	2.1	-73.4%	13.5	2.1	-84.4%

Date	1/08	2/08	3/08	4/08	5/08	6/08	7/08	8/08	9/08	10/08	11/08	12/08	1/09	2/09	3/09
For Sale	1151	1112	1057	934	869	784	757	732	700	671	632	555	510	471	379
Sold	85	85	134	165	216	215	235	243	213	241	222	208	153	127	183
Pended	99	145	198	248	240	230	224	224	230	237	176	171	167	191	213
Mon of Inv. on Sold	13.5	13.1	7.9	5.7	4.0	3.6	3.2	3.0	3.3	2.8	2.8	2.7	3.3	3.7	2.1
Mon of Inv. on Pended	11.6	7.7	5.3	3.8	3.6	3.4	3.4	3.3	3.0	2.8	3.6	3.2	3.1	2.5	1.8
Avg. Act Price	538	520	504	489	473	459	495	445	427	413	396	409	381	372	379
Avg. Sld Price	431	426	395	405	390	388	381	364	363	356	356	335	337	324	337
Avg. Sq. Ft. Price	166.63	166.66	155.75	146.67	149.66	154.12	147.58	147.48	140.49	139.53	138.75	137.07	133.5	132.22	131.15
Sold/List Diff. %	95	96	96	97	97	99	99	100	99	100	101	100	101	100	100
Days On Market	96	76	80	74	66	62	60	57	63	52	64	70	74	64	60
Median Price	415	395	395	400	384	369	375	360	360	355	355	340	333	335	330

OPEN HOUSE 553 Shenandoah Rd., Corona 92879

Lisa Seifert (Keller Williams Chino Hills) — Wed, 18 Feb 2009 13:26:16 -0600

SUNDAY FEB.22ND 1-4PM

offered at $310,000 approved "Short Sale"

OPEN HOUSE 3159 Banton cir., Corona Ca 92882

Lisa Seifert (Keller Williams Chino Hills) — Fri, 13 Feb 2009 16:38:36 -0600

Open House 3159 Banton Cir, Corona, Ca 92882 Sat. Feb. 14th 12-4pm

Come by and check out this amazing home offered at $525,000 as a "Short Sale"

Current Real Estate Market

Lisa Seifert (Keller Williams Chino Hills) — Tue, 27 Jan 2009 18:51:33 -0600

Hello Everyone I wanted to share a letter from the President of our Company "Prudential California Realty". I think it explains the current Real Estate market in a way we all can understand. Hope you enjoy....

To: Clients of Prudential California Realty

Date: January 27, 2009

Subject: A look at the opportunities in today's S. California Market

Dear Prudential clients:

As the owner of the firm, I have written a number of these letters over the years so that our sales professionals could share my thoughts directly with you, our client. I have typically written them when I sense a profound shift in the real estate market. This is one of those times.

First some background. I am the owner, along with my wife and partner, of the Prudential California Realty operating throughout Orange, Riverside and San Bernardino Counties. We have 9 office locations with approximately 875 real estate professionals. In the markets we serve we are, in almost every case, the single largest real estate firm in that market. I have been in the real estate business since 1972 and have owned my own firms since 1987. I have been through every up cycle, down cycle and in between cycle since 1972 and so what I write to you comes from the experience of being in this business for some 37 years.

What you are about to read is my personal opinion based on my 37 years of experience. I could be right or I could be wrong but it is my heartfelt opinion. My past letters to our clients have been very timely and proved to be quite accurate. I hope the same holds true for this letter.

The past three years have been the most challenging times in real estate I have ever witnessed. The mortgage business meltdown led to a meltdown on Wall Street. Wall Streets meltdown led to a worldwide scrutiny of financial assets. It has led to bailouts of Wall Street firms, banks, huge mortgage firms and the outright liquidation of some of the largest mortgage lenders in the US. The meltdown was caused by one thing more than any other. Aggressive lenders lent money to people who had little or no capability to pay this money back. These borrowers probably knew this when they were getting the loan but with rising prices there was always the hope that they could just sell the property for a great profit or refinance when they needed to. This worked...until it didn't. When prices got out of reach for most of the buyers, the music stopped. When the market slowed, people who could not afford their homes could not sell them because the buyers had been priced out of the market. Prices began declining. Price declines devalued the mortgage securities held by Wall Street and other firms. When the securities declined in value, Wall Street started selling the securities off. The volume became so fierce there were no buyers for these securities. This caused lenders to stop originating as many loans because new loans were harder to sell into the market. This became a vicious cycle. When lenders slowed the lending and tightened up on the terms, more buyers could not buy. Therefore more sellers could not sell. They began losing their homes to foreclosure. This depressed neighborhood prices further and a downward cycle was in full swing. The result of all this is the market we have today.

I think it is helpful to recognize, whether you are selling your home today or whether you are buying a home today, (or both), that we are really dealing with 2 distinct markets. For simplicity purposes I will define them as market A or market B. Market A is those homes priced under $500,000 in Orange County and under $300,000 in the Inland Empire Markets. Market B is those homes priced over $500,000 in Orange County and over $300,000 in the Inland Empire Markets.

I will address Market A first because that is where a huge opportunity exists for buyers today but the perception is all wrong about the state of the real estate market.

Before I get specific about Market A, you need to understand "where you get your news" is many times very relevant to how you feel about the real estate market. The national media is headquartered in either New York City or Washington DC for the most part. California actually began its descent into troubled real estate markets about the time Hurricane Katrina hit in August of 2005. For the next few years, the news only got worse in California and a few other markets in the nation. (Notably: Las Vegas / Phoenix / South Florida). While these markets were tumbling you did not hear about it much in the national media. On the east coast, and Manhattan in particular, until just a few months ago, prices were still increasing and buyers were plentiful. When the historic Wall Street firm, Lehman Brothers was allowed to fail, its impact was felt quickly. Within a week of that happening, Bank of America swallowed Merrill Lynch. Wells Fargo bought Wachovia. JPMorgan Chase bought Washington Mutual. All of these events threw thousands of highly paid people out of jobs and the jolt to the New York real estate market has been swift. This riveted the media's attention on the real estate market and how bad it was. What is not taken into account however is that California's market is actually improving. There were more sales in 2008 in California than there were in 2007. Yes, prices had declined from prior years but the fact is, sales were and are up. Yes, many of these homes, particularly in the Inland markets were and are foreclosures. Nevertheless, sales are up. You won't start hearing this from the National Media for a few years because their "home markets" just now are going into what California has been in for three years. The constant stream of "bad real estate news" is enough to make most rational people think that the market is so horrible that they won't go near it.

So, back to those with an interest in Market A:

The bottom of the market for Market A properties was in the last quarter of 2008. Every day you wait to buy a house in 2009 will cost you more money than the day before, the week before and the month before. If you were waiting to buy at the bottom of the market, you missed it. The only question for you now is this: "Do I still buy while the market is low or will I wait until there is another market frenzy and buy then at the top of the market?" Let me repeat my second sentence: Every day you wait to buy a house in 2009 will cost you more money than the day before, the week before and the month before. The question for Market A buyers is this: "Can I get the house at all?" It is no longer the 2008 question.... "How great of a steal can I get on a house?" The question is no longer, "How much under the list price will I be able to pay? The question is, "How much over list price will I have to pay to get this house?"

If you are a Market A buyer and buy a house today, you will have purchased that house for a lower price than what the same house will cost in a few months. Understand that even with getting a good price on the house today, it is likely that you will have to pay above the listed price of the property today.

Here is what is really happening on the ground and in real life in real estate. Prices have overcorrected in Market A. Interest rates have been driven by the government to historic lows. When you combine low prices with low interest rates it is like lighting a match to gasoline. Its effect is very powerful. There are more buyers entering the market each week in Market A. Every week you wait to buy, you will be competing with more buyers. The sooner you buy the smarter you will look in a few months.

When your Prudential sales professional counsels you that it will be critical for you to pay over the list price to get the home, they are giving you good counsel. They are not trying to drive up their income by getting you to pay more. They are trying to get you your dream house. I cannot begin to tell you how many buyers have lost two or three fantastic homes because they refused to believe their agent and made low or even absurd offers, thinking the market was ripe for them to steal a house. In Market A we are seeing multiple competing offers on every good property. If you like it...you can be pretty sure others like it for the same reasons you do. Usually the people with the best offer that win the property have already been down this road and lost two or three other homes they really loved. Only then did they really "get it". While that has worked for the past few months, it is about to get really serious.

The inventory levels in Market A are shrinking. Where a year ago there would be thousands of homes in a given market for sale, today there are hundreds. This is going to get more and more serious each week over the next few months. Combine too many buyers in the market, extreme low interest rates and a depleted inventory and you have the match that will light the gasoline and send prices up fast.

Now be clear. Prices will not increase to the levels we saw in 2005 and 2006. The lenders and the appraisers will not let that happen again. Your agent will explain the difference between conforming and jumbo loans and that is a critical reason the prices will go up...but not out of sight.

The point I want to make to our Market A buyers is simply this: Every day you wait the prices are going to be higher. You can believe me or you can test my statement and make low offers on houses you don't get. This takes time, sometime weeks and weeks is enough time for prices to go up even more. Market A buyers do not have the luxury of time right now. That was 2008. This is 2009 and everything is different. Buy a home now and I can tell you that you won't get as great a price as you would have in 2008, but you will look really smart in 2010 by buying now.

No doubt, some of our Market A homeowners with their homes for sale are reading this and grinning. Yes it is good news. Your home is going to sell for more money than it would have last year. Yes, it will sell for more money in a few months than it will sell for today. If you are not buying a larger and more expensive home when your current Market A home sells, you can possibly wait and get more money in a few months. However, if you are buying another home, the home you wait to buy will likely cost far more in a few months than the increase you could get on your current house by waiting. A lot depends on the price of the home you have to sell. Everything is tied to whether you are in a Market A price range or a Market B price range. This ties back to the financing loan limits and the available pool of buyers. Work closely with your Prudential agent to determine the best pricing strategy for the home. Price it too high, and you get no showings, let alone offers. Price it too low and you just cost yourself money. Price it just a little under the current market and you will likely generate a lot of offers for well over the listing price. I can only be general in this letter but your agent can give you counsel about your specific home in your specific neighborhood and city.

There are two very important steps to take if you are a Market A buyer right now. You must, and I emphasize must, get yourself pre-approved for a mortgage. Not pre-qualified but pre-approved. Your Prudential agent will help you with this. This is critical not only for you and your agent to know exactly how much home you can buy, but it is critical when it comes time to present your offer. If there are six offers on a property and your offer comes in without your loan being pre-approved, it will get knocked out even if your offer price is fine. Work with a lender your agent trusts and don't go shopping for your own loan. You can shop rates etc. after you are pre-approved if you don't think you received the best deal. Your agent has working relationships with lenders they trust and lenders they know can close loans. It does you no good to get into an escrow on a property and then two months later find out the lender you chose can't fund your loan. You have now lost your home and will go back into the market to buy with prices two months higher.

The other step is to have faith in your Prudential agent. They know the market and they will be able to tell you the values of the properties they show you. They will usually have knocked many homes out of consideration for you before they begin showing homes to you. Work with them on the correct process to buy and you will have great results.

Now, let's move to the Market B market which again, I have defined for this letter as Orange County properties priced above $500,000 and Inland Empire homes priced above $300,000.

This is still a very challenged marketplace. For those homeowners who did not have a large down payment and who purchased their home in the past three years, the chances are good that there is more owed on the home to lenders than the home can sell for right now. This is the case throughout many California markets. For those homes that are on the market where the owner owes more than the property is worth, we are faced with The Short Sale. Short sales are just that. The property will sell for less than the mortgage(s) owed on the property. (Therefore...short). A year ago the market was overloaded with short sale type properties and there are still many on the market. Agents and clients do not like dealing with them because you never know what is really happening. You present an offer, the seller says yes to your price, subject to his/her lender approving the price and the amount the lender is going to discount. In the past year we would have buyers waiting for months to get an answer only to get a negative response two months later. This was incredibly frustrating for the agents and their clients. The agents and buyers would typically keep looking for a home during the waiting period and often, when they found one they knew they could buy and the seller could sell without lender approval, they dropped out of the first sale and purchased the home they knew they could get a decision on. Lenders typically will lose a lot less money on a short sale than they will on a foreclosure. Common sense would tell you that they would react quickly to keep a ready, willing and able buyer in a transaction. However, common sense has not prevailed in the past year. Part of the problem was simply that the lenders were overwhelmed and didn't have enough staff to process requests and no guidelines on how to decide once the request did get to the right person. This is beginning to change. In the past month or so we are seeing some lenders respond very quickly to short sale requests and it is my belief that over the next year or so this process will become much more streamlined.

Market B is challenged by much more serious lender issues. For the buyer, the ability to get a loan is more difficult. Because it will be considered a Jumbo Loan and not a Conforming loan, there are very few institutions that will buy these loans. Therefore, the underwriting of a loan, in other words the scrutiny of the borrower, is much more involved. If a bank can't sell the loan they are going to keep it on their books or in their "portfolio." If it is in their portfolio, they are going to make extra sure it is a solid loan. In addition to the more stringent qualifying criteria, the interest rates are also higher, sometimes as much as a full percentage higher than the conforming loans that we use for Market A properties.

Market B has other challenges as well. First being, there are far more people who are in the Market A category as a buyer than there are in Market B. For the past few years the move-up market has been much weaker than in years past. Until Market A homeowners could sell, they did not have the ability to "buy up" to a Market B priced home. Over the months ahead, as you have already read, this Market A home seller is going to be able to sell his home more easily than he/she has in the past few years. This means there will be many more Market B properties selling as these people move up to the Market B price range.

That being said, there are still huge amounts of inventory in the Market B price ranges. This is a market where buyers will continue to make low offers and the homeowners should consider them if at all possible. If you have an interested buyer in your Market B property, don't lose them. Supply and demand will take time to correct this market. Until thousands and thousands more of Market A homeowners get their homes sold and closed, the Market B homes will continue to languish on the market. We have seen many of our buyers instruct our Prudential agent to make multiple offers on various properties. In other words, they will make offers on 4 homes, for example. They are very inflexible with the home seller and usually will not accept any kind of a counter-offer. They are pretty sure one of the four home sellers at least will take their offer as it is written. They are probably right for another six months or so. After that time, the lower ranges of the Market B price tiers will begin to sell much faster and the competition will shift from sellers competing with other sellers to buyers competing for single homes. It is possible that will happen in 2009 towards the last few months of the year. It is certainly not the market we see right now.

If you are in a position where you need to sell your Market B home, then price it aggressively and get it sold. If you don't need to sell or don't care if your Market B home sells, take it off the market for a year or so. Prices will firm up and you will be able to get more money at that time. However, don't be fooled. Lenders will prevent the prices from rising to the levels we saw in 2005 and 2006. Don't think that by waiting your price will skyrocket from its current value to some astronomical number. It won't. It will be higher than you could sell the home for today, but not to what it used to be worth.

Market B buyers and sellers need the counsel of their Prudential agent more than ever. There are excellent strategies to pursue if you are a buyer and there are good strategies to pursue if you are the home seller.

While I realize my letter is not nearly as upbeat for the Market B homeowners as it is for the Market A homeowners, it is my job to report things to you the way they are, not the way we wish they were. You need to know this. The market is better and is getting stronger each month, even in the Market B price ranges.

The housing industry led our country into the current recession and housing must be stabilized and "fixed" before the recession can end. Real estate led the market into recession and real estate will lead it out. The government certainly "gets it" and whether you agree with the policies or not, a torrent of money is coming into the real estate market in the next few years. This torrent of money will ultimately lead to inflation and a rising of interest rates to combat inflation. People who buy houses now will get the best possible price for their home and then as inflation kicks in, they will be paying off their mortgages each month with far "cheaper" dollars. Inflation is usually only good for people who own "hard" assets such as real estate. If you leave your money in "soft assets" such as money market accounts etc, inflation rips away your spending power. Knowing this is coming should make every possible homebuyer want to buy now at the best possible price. Make sure to get yourself a 15 or 30 year fixed-rate loan. Sit back and watch the value of your home grow as you pay the loan down with cheaper dollars over time.

The last area I will cover is the unemployment issue. Within a month or so California will have an unemployment rate at or exceeding 10%. How is this going to impact housing? Not much. Simply because there are still great prices and great interest rates. While 10% unemployment is not a good thing, remember this....90% of the people are still employed and they will take advantage of the market to buy low and lock in their purchase with a nice long term fixed interest rate loan at a very low rate.

I know this has been a very long letter. I have tried diligently to give you a coherent look at the real market we have today in real estate. Could I be wrong? Sure. Things were better in 2008 than they were in 2007 with respect to the numbers of houses sold in California. Things will be better in 2009 than in 2008. Better in 2010 than in 2009. Again, this is for the amount of homes being sold each year. If the years ahead are going to be better and better, it only makes sense to complete a purchase now while the prices and interest rates are so favorable. Could something change this scenario? Sure. A national meltdown in the financial system could change everything. Possible, but not likely. Another terrorist incident in the United States? Depending on the severity of such an incident, it will have an impact but probably not long term. Remember, after 9/11 the government did everything possible to stimulate the economy and they did it.

I want you to know how much I personally appreciate you choosing our firm to buy or sell your home. There are many fine real estate companies and we are honored to have been chosen to help you achieve your housing goals. I can assure you that as a group, our team of Prudential sales professionals are the best in their markets. They work long hard hours on behalf of you, our clients and will go the extra mile for you time and time again. I hope you are very happy with the service you receive from your Prudential agent. I feel very fortunate to have him or her on my team.

Whether you find yourself in Market A or Market B the days, weeks, months and years ahead are much brighter than the recent years.

I would welcome any questions and comments. Email me at RichCosner@mac.com

Thank you for doing business with Prudential California Realty.

Most sincerely,

Richard D. Cosner

President

Lisa Seifert says "Dos Lagos, great place to shop Great Place to live"

Lisa Seifert (Keller Williams Chino Hills) — Mon, 26 Jan 2009 15:23:33 -0600

I Must say before I moved to Corona I had some pre-conceived ideas. Sadly these ideas did not come from me ever visiting Corona, just from things I had heard or from what others thought, but just like most pre-conceived ideas I found once I checked out Corona for myself, that these ideas had no merit. Every day Corona surprises me with unexpected treasures. This weekend I found one of those unexpected treasures at Dos Lagos Shopping center. http://www.doslagos.net/

This place is awesome....great and unique places to eat, like "The Counter" where you are able to order the best burger you have ever eaten from a checklist of items (Check out their website) http://www.thecounterburger.com/corona/, cool shops like Z-Gallery (one of my all time favorites), and the claim to their name (Dos Lagos which means two lakes) are the lakes you can walk around that have a amazing waterfall in-between....so beautiful, the pictures do not do it justice. I felt like I was on vacation visiting the kind of place you can usually only find somewhere else, but here it is right in my backyard. It turned out to be a great date day for me and my husband, even though it was raining! Also in this area known as "Dos Lagos" are great housing developments, and even a golf course. If you have not checked out Corona in awhile it is time you did.....Corona is a fine place to call Home

Mountain Realtor Moves to Corona

Lisa Seifert (Keller Williams Chino Hills) — Fri, 23 Jan 2009 16:24:48 -0600

Well hello Everyone......Lisa Seifert your mountain Realtor has moved off the mountain and now is up and running in South Corona. I have joined the number one company in the area "Prudential California Realty" check out their website http://www.prudentialcaliforniarealty.com .

I never knew how beautiful and centrally located Corona is. My husband and I moved here approximately 6 months ago after my husband received a job transfer. I stayed doing real estate in the mountains up until the end of last year and finally settled into my new office this month. It is a whole new wonderful world down here. I forgot all the fabulous attributes of living in Suburbia. Shopping, restaurants, entertainment, and some of the best places to live are all minutes away. Did I mention that the streets are flat and straight, mail comes to your door, no snow to shovel, and family actually comes to visit because they are not scared to drive up the mountain :)

Let's just say we are extremely happy and amazed at the wonderful home we were able to afford. The home deals in the area are monumental. It is a buyers paradise in Corona. Homes are selling at about 40% below what they were selling for 2 years ago. If you have been sitting on the fence with wondering if you should buy.... now is the time. Interest rates once again are at record lows, homes are selling at bargain prices, and inventory is starting to move to the point of you missing out, so don't be one who wishes you would have done something sooner.

Corona has so much to offer. I will use this blog to eductate you on all it's attributes. Feel free to contact me anytime about the real estate market or simply things to do and see in Corona.....

1027 Nesthorn dr Crestline

Lisa Seifert (Keller Williams Chino Hills) — Thu, 25 Sep 2008 18:29:48 -0500

Lisa Seifert | Coldwell Banker Sky Ridge Realty | lisa@lisaseifert.com | 909-289-7302

1027 Nesthorn, Crestline, CA

This Is the One!!!!

3BR/1.5BA Single Family House

offered at $228,777

Year Built	1985
Sq Footage	1,616
Bedrooms	3
Bathrooms	1 full, 2 partial
Floors	3
Parking	Unspecified
Lot Size	8,210 sqft
HOA/Maint	$0 per month

DESCRIPTION

This is the one! Move in ready with 3 bedrooms 1 fulll bath and 2-1/2baths. Built in 1985, dual pane windows, seasonal stream, dog kennel, and shed out back. Large eat-in kitchen, beautiful brick fireplace, workshop, great views, tons of windows. Open airy floor plan: upstairs offers level entrance to the living room, kitchen with tons of cabinets and ample counter space, room for large dining table, and a convenient 1/2 bath plus sliding glass doors that lead to the deck and your forest view. 2nd level offers two good size bedrooms, full bath with tub and shower, deck off of one of the bedrooms and very handy attached workshop, 3rd level has laundry, 1/2 bath, storage, and a large room that can be used either as a bedroom, family room, or fabulous man cave as it is being used rignt now :). 3rd level also offers access to back yard area and has easy use dog door for your four legged friends and kennel, plus a storage shed. What more can you ask for in a mountain home! Right when you walk in the door you will know this is it!

see additional photos below

PROPERTY FEATURES

Fireplace	High/Vaulted ceiling	Hardwood floor
Living room	Dishwasher	Refrigerator
Stove/Oven	Microwave	Washer
Dryer	Laundry area - inside	Balcony, Deck, or Patio

COMMUNITY FEATURES

Storage space(s)

ADDITIONAL PHOTOS

Seller contact info:

Lisa Seifert

Coldwell Banker Sky Ridge Realty

909-289-7302

For sale by agent/broker

Posted: Sep 25, 2008, 2:26pm PDT

675 Arth Crestline

Lisa Seifert (Keller Williams Chino Hills) — Thu, 24 Apr 2008 11:08:57 -0500

Lisa Seifert | Coldwell Banker Sky Ridge Realty | lisa@lisaseifert.com | 909-289-7302

675 Arth, Crestline, CA

LAKE VIEW!!!

3 Bdrm Single Family House

offered at $295,000

Year Built	1966
Sq Footage	1,442
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	Unspecified
Parking	Unspecified
Lot Size	11,070 sqft
HOA/Maint	$0 per month

DESCRIPTION

One of a kind San Moritz home with fabulous interior architecture. Lake, Mt. Baldy and Sunset Views. Wall of glass with floor to ceiling windows to take in the panoramic views and to enjoy the year round sun and warmth. 1/4 Acre lot with large, almost level, fenced backyard. Spacious cooks kitchen with walk in pantry. Beautiful built in storage everywhere you look. Open floor plan with vaulted ceilings. Newer vinyl siding on exterior of home. Parking for 3+ cars.Privacy and seclusion.

see additional photos below

PROPERTY FEATURES

Central heat	High/Vaulted ceiling	Tile floor
Living room	Dishwasher	Refrigerator
Stove/Oven	Microwave	Stainless steel appliances
Washer	Dryer	Laundry area - inside
Balcony, Deck, or Patio	Yard

ADDITIONAL PHOTOS

Seller contact info:

Lisa Seifert

Coldwell Banker Sky Ridge Realty

909-289-7302

For sale by agent/broker

Posted: Apr 24, 2008, 7:07am PDT

23854 Springwater, crestline

Lisa Seifert (Keller Williams Chino Hills) — Thu, 24 Apr 2008 11:01:43 -0500

Lisa Seifert | Coldwell Banker Sky Ridge Realty | 909-289-7302

23854 Springwater, Crestline, CA

This is the perfect family home

5 Bdrm Single Family House

offered at $299,000

Year Built	1938
Sq Footage	2,112
Bedrooms	5
Bathrooms	2 full, 0 partial
Floors	Unspecified
Parking	Unspecified
Lot Size	11,220 sqft
HOA/Maint	$0 per month

DESCRIPTION

Large 5 bedroom 2 bath family home with level entry and a 1 car garage. New flooring and paint. Oversized level lot.Tons of parking. Commuter friendly,close to bus stop, and walking distance to town and Lake. Great home with tons of possibilities.

see additional photos below

PROPERTY FEATURES

Living room	Dishwasher	Refrigerator
Stove/Oven	Washer	Dryer
Laundry area - inside	Balcony, Deck, or Patio	Yard

ADDITIONAL PHOTOS

Seller contact info:

Lisa Seifert

Coldwell Banker Sky Ridge Realty

909-289-7302

For sale by agent/broker

Posted: Apr 24, 2008, 6:55am PDT

24798 Finhaut, Crestline

Lisa Seifert (Keller Williams Chino Hills) — Thu, 24 Apr 2008 10:52:22 -0500

Lisa Seifert | Coldwell Banker Sky Ridge Realty | lisa@lisaseifert.com | 909-289-7302

24798 Finhaut, Crestline, CA

2 Master Suites

4 Bdrm Single Family House

offered at $279,900

Year Built	1968
Sq Footage	1,404
Bedrooms	4
Bathrooms	3 full, 0 partial
Floors	Unspecified
Parking	Unspecified
Lot Size	6,830 sqft
HOA/Maint	$0 per month

DESCRIPTION

Turn Key, Level entry, San Moritz BEAUTY. Remodeled and updated throughout, tastefully decorated, shows extremely well. Crown molding, wainscoting,new flooring, newer roof, freshly painted inside and out. 2 master suites 4 bedrooms and 3 bath total. Fireplace and jet tub in main master. Commuter friendly in a very desirable area and street. Decorator touches throughout home. Two decks to take in the beauty of the mountain and forest.Work shop area with inside laundry. This house is to cute to pass up.

see additional photos below

PROPERTY FEATURES

Fireplace	High/Vaulted ceiling	Walk-in closet
Hardwood floor	Living room	Dishwasher
Refrigerator	Stove/Oven	Microwave
Attic	Washer	Dryer
Laundry area - inside	Balcony, Deck, or Patio

ADDITIONAL PHOTOS

Seller contact info:

Lisa Seifert

Coldwell Banker Sky Ridge Realty

909-289-7302

For sale by agent/broker

Posted: Apr 24, 2008, 6:48am PDT

1061 Nesthorn dr Crestline

Lisa Seifert (Keller Williams Chino Hills) — Wed, 23 Apr 2008 19:49:51 -0500

Lisa Seifert | Coldwell Banker Sky Ridge Realty | lisa@lisaseifert.com | 909-289-7302

1061 Nesthorn , Crestline, CA

What a Floor Plan !!!

4 Bdrm Single Family House

offered at $348,777

Year Built	1968
Sq Footage	1,654
Bedrooms	4
Bathrooms	2 full, 0 partial
Floors	Unspecified
Parking	4
Lot Size	7,540 sqft
HOA/Maint	$0 per month

DESCRIPTION

Now this is a living room!!!Perfect entertaining home with Large spacious open floor plan, 4 bedrooms and 2 baths, party deck and remodeled kitchen and baths. Newer roof, slate tile, and level entry. Fenced back yard, awesome views, parking for 4 cars,large walk-in build up area for storage, nice quiet street,and easy access. This is the floor plan everyone is looking for open, airy, light and bright.

see additional photos below

PROPERTY FEATURES

Fireplace	High/Vaulted ceiling	Tile floor
Living room	Dining room	Dishwasher
Refrigerator	Stove/Oven	Microwave
Stainless steel appliances	Attic	Washer
Dryer	Laundry area - inside	Balcony, Deck, or Patio
Yard

ADDITIONAL PHOTOS

Seller contact info:

Lisa Seifert

Coldwell Banker Sky Ridge Realty

909-289-7302

For sale by agent/broker

Posted: Apr 23, 2008, 3:47pm PDT

24098 Alpine Crestline

Lisa Seifert (Keller Williams Chino Hills) — Wed, 23 Apr 2008 19:10:57 -0500

Lisa Seifert | Coldwell Banker Sky Ridge Realty | lisa@lisaseifert.com | 909-289-7302

24098 Alpine, Crestline, CA

If you want seclusion this is the home for you.

2 Bdrm Single Family House

offered at $225,000

Year Built	1949
Sq Footage	1,044
Bedrooms	2
Bathrooms	1 full, 0 partial
Floors	2
Parking	Unspecified
Lot Size	15,790 sqft
HOA/Maint	$0 per month

DESCRIPTION

A fabulous long private drive leads you down to This secluded 2 Bed 1 bath house that sits on a huge 15,790sqft level lot.Take your pick where to sit and enjoy the garden with fruit trees(apple,cherry, plum,nectarine, and peach) and seasonal flowers. Tons of parking and the home has tons of charm and character as well. Sellers are motivated priced below what they bought it for in 2006.

see additional photos below

ADDITIONAL PHOTOS

Seller contact info:

Lisa Seifert

Coldwell Banker Sky Ridge Realty

909-289-7302

For sale by agent/broker

Posted: Apr 23, 2008, 3:04pm PDT

Crestline Area Market Report for March 2008

Lisa Seifert (Keller Williams Chino Hills) — Wed, 16 Apr 2008 14:03:06 -0500

Address	Original Price	Sold Price	Original Price%	DOM

CRESTLINE
23750 CREST FOREST DR	$279,900	$237,500	85%	279
23111 Balsam Lane	$287,900	$222,000	77%	231
23418 Kay Rd	$349,900	$283,000	81%	198
23692 SCENIC DRIVE	$184,900	$170,000	92%	46
Totals	$1,102,600	$912,500	83%	189

Crestline Area 1st Quarter Market Report

Lisa Seifert (Keller Williams Chino Hills) — Wed, 16 Apr 2008 13:54:14 -0500

Address	Original Price	Sold Price	Original Price %	DOM
CEDARPINES PARK
426 Hartman Circle	$350,000	$325,000	93%	84
Totals	$350,000	$325,000	93%	84
CRESTLINE
23750 CREST FOREST DR	$279,900	$237,500	85%	279
904 Nesthorn Drive	$315,000	$305,000	97%	202
23111 Balsam Lane	$287,900	$222,000	77%	231
318 Dart Canyon Dr	$184,900	$149,000	81%	200
23418 Kay Rd	$349,900	$283,000	81%	198
133 WEISSHORN	$329,900	$250,000	76%	133
181 S Dart Canyon Rd	$349,000	$290,000	83%	116
23926 Bowl Rd	$224,000	$207,500	93%	59
495 VALLEY	$94,900,000	$76,000	0%	56
670 CEDAR LANE	$125,000	$105,000	84%	41
709 CEDAR LANE	$125,000	$125,000	100%	24
23692 SCENIC DRIVE	$184,900	$170,000	92%	46
Totals	$97,655,400	$2,420,000	2%	132
LAKE GREGORY
1043 JUNGFRAU DRIVE	$249,900	$184,900	74%	82
24589 Horst Drive	$269,900	$190,000	70%	394
305 Dorn	$289,900	$259,000	89%	175
24748 Valle Dr	$425,000	$425,000	100%	84
168 ZERMATT	$209,900	$195,000	93%	53
Totals	$1,444,600	$1,253,900	87%	158

Short Sale, Crestline, 23738 Scenic

Lisa Seifert (Keller Williams Chino Hills) — Wed, 09 Apr 2008 13:39:03 -0500

What a bargain. This home is currently a Short Sale Subject to lender approval. It is offered at $265,000. It is cute, cute, cute. It has been updated throughout and sits on the most gorgeous forest setting with a creek out back. The lot is 14030 sqft and the home is 1330 sq ft. The current owners need to move ASAP they are pregnant with quads, yes 4 babies, not an outdoor vehicle!!! This home is fabulous and waiting for you....

Representing Your Best Interest

Lisa Seifert (Keller Williams Chino Hills) — Wed, 02 Apr 2008 15:31:54 -0500

In today's real estate market it is more important than ever to have a professional who truly represents your best interest. A qualified listing agent works for you -- the home seller.

Here are some things to consider when hiring an agent:

The offer is typically written by an agent who represents the buyer's best interests.
Your listing agent will represent you, the home seller, as your exclusive sellers agent.
Your listing agent will carefully go through the entire offer with you and furnish you with expert guidance and counseling. Your listing agent will help you put together a response that will give you the highest possible price for your home and do everything possible to protect you from liability.

Remember, you are depending on your listing agent to represent your best interests at all times and to be a strong negotiator on your behalf. Good guidance here can also make the entire transaction go more smoothly and greatly decrease the chances of litigation.

Short Sales, Crestline

Lisa Seifert (Keller Williams Chino Hills) — Wed, 02 Apr 2008 14:51:34 -0500

I will be taking my first short sale listing as of tomorrow. I was happy to take the listing because it was going to give me an opportunity to help some very nice people out of a sticky situation, but on my end I was expecting the worst. I had heard such nightmare stories about dealing with the banks, time lines for closing deals taking as long as 6 months, and having so much extra work and the bank drastically cutting the commissions. I talked with the bank this morning and was pleasantly surprised. They were very nice and full of great information. They seemed eager to work with me and my clients and state that the time lines for closing usually take 30-45 days. They also stated that as long as closing costs were normal for the market place, including commissions, that everything would be taken care of. Of course I have not gotten to the point of submitting and offer but I can honestly say that I am now looking forward to not only learning from this experience but having a pleasant experience dealing with the bank and being able to help my clients navigate this new territory we find ourselves in. I also am looking foward to keeping you updated on the process so we all can learn together.

Featured Property 1061 Nesthorn in Crestline

Lisa Seifert (Keller Williams Chino Hills) — Wed, 26 Mar 2008 16:14:27 -0500

This is a floor plan we are all looking for. Huge spacious living room with dining area open to the kitchen. large party deck, 4 bedrooms and 3 baths, parking for 4 cars, large fenced yard, and updated throughout. The pictures do not do it justice you have to see this one for yourself.....

Easter Hop-A-Long in Crestline

Lisa Seifert (Keller Williams Chino Hills) — Mon, 24 Mar 2008 18:26:37 -0500