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Upland, CA Real Estate News

By Pat Palmer, Realtor - Upland, CA 91786
(Forefront Real Estate/ Forefront Mortgage)
MUSIC TO MY EARS Signs of life in the home-building industry - latimes.com Who would ever have thought it? The thrill of street closures, the sweet sounds of construction crews pounding away at what-the-hell o'clock in the morning and giant vehicles full of lumber&roof tiles...it's starting again, and it's music to my ears. The industry is waking up and new construction is popping up.This is just another sign that the housing market is gaining a foot hold in stability.
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By Pat Palmer, Realtor - Upland, CA 91786
(Forefront Real Estate/ Forefront Mortgage)
In a surprising move, The Federal Reserve of New York has apparently hired all forward thinking rocket scientists currently available in the U.S. Further proof of this was an article appearing in today's Wall Street Journal. To the shock of the banking world, home loan modifications are actually more successful when a permanent solution like...ohhh, I don't know...balance reduction is granted. I know what you're thinking, "God, it must surely take those of superior intellect to come up with a solution we mere mortals couldn't !" Below is the article that backs up my Rocket Scientist proof: http://blogs.wsj.com/developments/2010/01/04/ny-fed-most-successful-mortgage-modifications-reduce-borrowers-principal/
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By Pat Palmer, Realtor - Upland, CA 91786
(Forefront Real Estate/ Forefront Mortgage)
Dear Santa, Please see the link below: Tax credit spurs rush of November home buyers - MarketWatch I really hope Rudolph and The Boys are rested, 'cause it looks like you have a lot more stops to make. Because there has been no viable alternative, I have been a supporter of the First Time Home Buyers Tax Credit, and now The Extension. Naysayers will immediately point to the raw cost of this program, and they have a point. But  the link shows, the tax credit is motivating people to buy. Perhaps just as importantly, the tax credit is also generating positive headlines. Call me an optimist, but I feel that this program is having a motivating effect on new buyers. And over time, it will lead to buyers starting home improvements, hiring contractors and buying large ticket home appliances. If...
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By Pat Palmer, Realtor - Upland, CA 91786
(Forefront Real Estate/ Forefront Mortgage)
Home prices continue to rise in The Inland Empire and Southern California. If you live in Upland or Riverside, or Rancho Cucamonga (yes , there really is a place called Rancho Cucamonga) read that first sentence out loud. Recovery won't happen over night, unless it's a month's worth of Alaska winter nights. But housing is starting to recover. And the psychology of recover is every bit as important as any other aspect. Yes, short sale lenders are going to continue to be a giant pain in the assets. And no, that REO listing agent probably won't call you back. But look at the bright side. As the market recovers, there will be less and less of them in it. Southern California home prices and sales improve in November -- latimes.com
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By Ila Josephs, Ila Josephs, Real Estate Broker
(Tarbell, Realtors)
Fifteen according to the Inland Multi-Regional Multiple Listing Service and seven Upland properties were reported as entering escrow during the weekending Dec. 7, 2009, and seven Upland properties were reported as entering escrow during the week.  A total of 136 Upland homes were listed for sale in the MLS on Dec. 7. Included are 88 single-family homes. There were 48 condominiums, townhomes and single-family homes in homeowner associations listed for sale in Upland on Dec. 7; 57 homes were reported as vacant.  The MLS showed 12 foreclosed, or Real Estate Owned, homes listed in Upland on Dec. 7; 38 others were in pre-foreclosure - listed as "in foreclosure," Notice of Default or Short Pay/Subject to Lender. Nine Upland homes were reported in the MLS as sold in the week ending Dec. 7, 200...
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By Pat Palmer, Realtor - Upland, CA 91786
(Forefront Real Estate/ Forefront Mortgage)
The following good news is brought to you by The Los Angeles Times and Forefront Real Estate. Don't look now, but new home prices in Southern California, The West, and everywhere else are also unmistakably on the rise. In today's market, it's actually OK have a little optimism. I'm not suggesting to run out and bet the farm on 2010 being the best year on record. But we've all been beaten down by dour headlines and predictions. Have a look at the article and graph below. But be careful, it may make you smile.  New US home sales rise 6.2% -- latimes.com  
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By Pat Palmer, Realtor - Upland, CA 91786
(Forefront Real Estate/ Forefront Mortgage)
U.S. home sales rise more than expected. Let me type that one more time, just 'cause it feels good. U.S. home sales rise more than expected. While we are far from seeing the end of the crisis at hand, we are seeing the beginning of the end. Headlines like the one from Marketwatch.com ARE important. Public confidence is, in part, lost and gained by them. So if you want a pessimistic view on this Monday morning, DO NOT CLICK the link below: DO NOT CLICK HERE FOR BAD NEWS. DON'T DO IT!! IT WILL MAKE YOUR DAY BETTER!!!
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By Ila Josephs, Ila Josephs, Real Estate Broker
(Tarbell, Realtors)
Eleven Upland homes were added to those listed for sale during the week ending Nov. 15, 2009, according to the Inland Multi-Regional Multiple Listing Service and four Upland properties were reported as entering escrow during the week.  A total of 131 Upland homes were listed for sale in the MLS on Nov. 15. Included are 93 single-family homes. There were 38 condominiums, townhomes and single-family homes in homeowner associations listed for sale in Upland on Nov. 15; 45 homes were reported as vacant. The MLS showed 11 foreclosed, or Real Estate Owned, homes listed in Upland on Nov. 15; 37 others were in pre-foreclosure - listed as "in foreclosure," Notice of Default or Short Pay/Subject to Lender.  Seven Upland homes were reported in the MLS as sold in the week ending Nov. 15, 2009.  Ila...
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By Pat Palmer, Realtor - Upland, CA 91786
(Forefront Real Estate/ Forefront Mortgage)
Nostalgia is a good thing. One of the things about nostalgia is that it tends to come back around. See if you remember these gems: Homes had owners in them Cash offers were accepted...quickly Listing agents lived in the same city as their listing Asset managers were guys that handled money, not homes When someone said REO, you first thought of a great rock band of the '80's Short sale negotiators didn't exist Fannie & Freddie were funny names of companies most people never heard of Purchase contracts got a Counter Offer, not a bank addendum Voice mails were returned You bought cars and cattle at an auction Ahhhhh the good old days. I think we've all kind of forgotten that these all applied less than four years ago.As long as we learn the lessons of excess, they will come around again. ...
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By Pat Palmer, Realtor - Upland, CA 91786
(Forefront Real Estate/ Forefront Mortgage)
As our market continues to calm, Southern California is seeing the beginning of home appreciation again. Are things all better now? Of course not. And there are those who will say it's only a temporary spike. Or others that will some how blame The First Time Buyer Tax Credit Extension for skewing the numbers. Personally, I am glad to find and share good news. We have forgotten that a large part of any market's decline or rise is based on emotion and confidence. Headlines have a way of building on themselves either way. So please take a moment and click the link below: Southern California home prices edge upward again in October -- latimes.com
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By Pat Palmer, Realtor - Upland, CA 91786
(Forefront Real Estate/ Forefront Mortgage)
For those of you old enough to remember Whitney Houston singing The Star Spangled Banner during The Super Bowl, it's one of the versions you never forget. For those of you that might never have seen it, take a moment and watch this clip:   As a hobby, I referee high school basketball. More than all the other privileges it allows me, the single greatest is that at least 35-40 times a season, I get to stand with a gym full of people, proudly face our flag and listen to a rendition of The National Anthem. To this very day and after all these years, I STILL get goose bumps every time. It doesn't matter if the singer is a 6 year old singing totally off key, or the recorded version of the video above. If this video doesn't evoke some kind of reaction from you, especially on Veteran's Day,don'...
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By Pat Palmer, Realtor - Upland, CA 91786
(Forefront Real Estate/ Forefront Mortgage)
The extension of The First Time Buyers Tax Credit is now here. There are a lot of questions as to what may/may no be included. The National Association of Home Builders has put together a rather helpful site. I found this after watching a Think Big, Work Small video this morning. Here's the link for the Q &A: There are many that are on either side of Home Buyer Tax Credit debate. As I've stated here, I am for it. While I'm not usually in favor of subsidies, this market is far from usual. The inherent difference in this credit is that it doesn't just fall into a black hole, a la TARP. Buyers do buy in part because of this credit. Once in a home, they need contractors, appliances, etc. For once, I do have to take the side of my more liberal brethren.
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By Ila Josephs, Ila Josephs, Real Estate Broker
(Tarbell, Realtors)
Thirteen Upland homes were added to those listed for sale during the week ending Nov. 8, 2009, according to the Inland Multi-Regional Multiple Listing Service and eight Upland properties were reported as entering escrow during the week.  A total of 128 Upland homes were listed for sale in the MLS on Nov. 8. Included are 94 single-family homes. There were 34 condominiums, townhomes and single-family homes in homeowner associations listed for sale in Upland on Nov. 8; 42 homes were reported as vacant.  The MLS showed seven foreclosed, or Real Estate Owned, homes listed in Upland on Nov. 8; 41 others were in pre-foreclosure - listed as "in foreclosure," Notice of Default or Short Pay/Subject to Lender.  Seven Upland homes were reported in the MLS as sold in the week ending Nov. 8, 2009.  I...
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By Pat Palmer, Realtor - Upland, CA 91786
(Forefront Real Estate/ Forefront Mortgage)
Some people are in favor of the extension of the  Home Buyer Tax Credit, and some are not. I completely understand varying view points on "stimulus" money. "Stimulus", by the way, may be the single most over used word of this decade. Anyway, let me say that I am for the Homebuyer Tax Credit. Let me also say that by no means am I a tax & spender. BUT this stimulus is already working. People ARE buying homes. So people DO hire contractors, go to Home Depot, buy carpet and so on. Of all the corporate, dead end, counter productive bail out funds being tossed around, THIS one actually works. Now here's where my math gets juuuuuust a tad fuzzy. In other blog responses here,and in other articles, I keep hearing the following: " The Homebuyer Tax credit will cost taxpayers $48,000 per home!!" ...
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By Pat Palmer, Realtor - Upland, CA 91786
(Forefront Real Estate/ Forefront Mortgage)
This just in: Senate OKs extension of home-buyer tax credit and jobless aid -- latimes.com From previous blog responses, I know not everyone is in favor of the Home Buyer Tax Credit Extension. I am. Given all the money being thrown at corporations, this stimulus money is already doing what it is designed for, stimulating the home buying sector of our economy. The bill is now being sent to The House for approval.
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By Ila Josephs, Ila Josephs, Real Estate Broker
(Tarbell, Realtors)
Eleven Upland homes were added to those listed for sale during the week ending Nov. 3, 2009, according to the Inland Multi-Regional Multiple Listing Service and 10 Upland properties were reported as entering escrow during the week.  A total of 129 Upland homes were listed for sale in the MLS on Nov. 3. Included are 94 single-family homes. There were 35 condominiums, townhomes and single-family homes in homeowner associations listed for sale in Upland on Nov. 3; 43 homes were reported as vacant.  The MLS showed eight foreclosed, or Real Estate Owned, homes listed in Upland on Nov. 3; 43 others were in pre-foreclosure - listed as "in foreclosure," Notice of Default or Short Pay/Subject to Lender.  Fifteen Upland homes were reported in the MLS as sold in the week ending Nov. 3, 2009.  Ila ...
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By Pat Palmer, Realtor - Upland, CA 91786
(Forefront Real Estate/ Forefront Mortgage)
This article just broke in the L.A. Times: Feared flood of foreclosures in California may be averted -- latimes.com While we are far from seeing a healthy market, the beginning has now started.
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By Pat Palmer, Realtor - Upland, CA 91786
(Forefront Real Estate/ Forefront Mortgage)
This just in from MarketWatch:  Positive news expected in housing reports - MarketWatch
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By Pat Palmer, Realtor - Upland, CA 91786
(Forefront Real Estate/ Forefront Mortgage)
Can something come full circle when it's still spiraling out of control? I just saw this this article: click here . It seems that Chase Bank is lobbying to get approval to do Interest Only Loan Modifications. Maybe it's just me, but aren't interest only loans part of the reason our homes are worth about 1/2 of what they were. This assuming you are actually still in your home. My personal assumption is that none the TARP money given to banks was used for intelligence testing. Loan modifications don't work. They are a band-aid on an amputation. Well over 50% of all mods end up back in default within a year: So what could possibly possess one of the largest mortgage banks in the world to combine one of the worst loan features ever to grace the pages of a promissory note with one of the lea...
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By Pat Palmer, Realtor - Upland, CA 91786
(Forefront Real Estate/ Forefront Mortgage)
The link below proves that the sky is NOT falling. In fact, it's only rain: Housing upturn occurring in some parts of Southern California, data show -- latimes.com
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