Southern California Real Estate Professionals

 Real Estate News and Real Estate Articles of Interest!

Sept, 2004

Article By: Vikki Morrison, First Team Real Estate

According to the economists and soothsayers in the gorgeous county we love to live in; “NOW is the time to sell”.  Of course they get paid for predicting future trends and sometimes they are right and sometimes not. The real bottom line for most home sellers is: "...will this fit into your personal long and short range objectives???"  If you are a move up buyer and simply moving equity; now is probably the best time to make a move,  due to low interest rate loans. It affords you more house for less monthly payment.  If you are relocating for job or personal reasons; the prices are extremely high and you may will be able to take your money from California and buy a portion of the state to which you are moving (or country as the case may be).  If you are selling because you feel the top is reached and you just wish to rent until prices come down, you are on your own; however, you do have a lot of company.  Many people believe the doomsday theories. I try to weigh this type of decision on how much tax write-off you will lose as well as the exceptionally freeing right to home ownership.  Renting is paying someone else’s payments and is virtually a lose situation for the renter except for the “I need a roof over my head concept/reality.”

Is now the time to buy?  If you are renting, ABSOLUTELY.  If you are a move up buyer, your rates are great so ABSOLUTELY.  If you are fishing to turnover a home for a quick profit, remember the tax free $250,000/individual rules of living in the property two out of the past five years.  To evaluate your tax consequences if you sell prior to the 2 year rule; talk to your accountant.

Every person is a unique individual with a unique set of needs and wants.  Answering these questions is not simple as each of us has different goals and aspirations.

The past three weeks there has been a flood of new listings hitting the market as sellers are “taking the money and running” in view of the news of potential interest rate hikes next quarter…That would be July..  For more information regarding your personal goals, call Vikki Morrison at (714) 861-1288.

May, 2004

Huntington Beach Real Estate News
by Dianne Rector


I DON’T PRACTICE LAW

 A real estate professional doesn’t practice law.  Doesn’t do your taxes.  Doesn’t give advice s/he’s not licensed to give.
 Ah, but here we have the makings of a Catch-22.  Because you rightly expect your real estate advisor to guide you carefully through a minefield of potential legal hassles and tax problems.
 So now what?  It’s a very fine line we walk.  What we do is to explain, to the best of our understanding, the ramifications of any problem or opportunity.  We do not tell you which course of action to take.  Our job is to help you (1) know that there are important questions to ask the appropriate advisor in a given situation (be it tax or legal advisor or someone else), and (2) have a fair idea of what questions you should ask.
 In this way, your real estate advisor–-who can indeed answer questions pertaining specifically to real estate practice–-becomes something of a coach or consultant... someone who helps guide you every step of the way through a complex process, pointing out the potential problems and directing you to the people who can make the problems go away.

If you need your questions answered call Dianne at (714) 861-1222 or voice mail at (714) 647-7146

Dianne is a Realtor® with First Team Real Estate in Huntington Beach and is in the top 1% in real estate sales in the nation.

www.DRector.com

Email: DRector

April, 2004

Why Southwest Riverside County? Why Temecula?

In the past twenty years, Southwest Riverside County has changed from a few rural communities with dirt roads to a series of small cities with rapid population growth. These communities are particularly desirable places to live today because they are establishing distinct identities with interesting individual downtown areas that invite people, rather than blending together as the bedroom communities in Orange County and Los Angeles County have done.

Joel Kotkin, author and senior fellow at the Davenport Institute for Public Policy at Pepperdine University notes that the people moving into this area don't want another L.A. or Orange County, but rather they want an archipelago of urban villages.

These communities are becoming increasing desirable as employment develops in the area. Inc. Magazine recently identified the "Inland Empire"--Riverside and San Bernardino counties--as the second most favorable location for business development in the nation after Atlanta. Certainly, affordable housing plays a great part in the desirability of the area for business. Steve Pontell, president of the La Jolla Institute, a nonprofit think tank, cites one Ontario company owner who considered moving senior management to Newport Beach, then reversed his decision when he realized he'd lose key employees who couldn't afford to live there. Thus, good quality employment is developing locally, so that residents can live and work in Southwest Riverside County.

With the growth of desirable communities and local employment, I want to alert you to a series of articles running in the Southwest County Edition of the Press-Enterprise--"Inland Southern California's Newspaper" about the development trends in the Southwest Riverside County. Last week they featured Temecula and for each of the next four weeks they will feature Lake Elsinore-Canyon Lake, Murrieta, Sun City-Menifee-Quail Valley-Romoland, and French Valley. A summary of the Temecula article follows. 

According to a March 26 the Press-Enterprise article, Temecula is currently leading the state in job creation. Thus, increased quality in employment opportunities is starting to match the housing development of the last decade.  Temecula has been among the state's fastest developing communities during the last decade. According to real estate experts quoted in the March 28 article of the Press-Enterprise, Temecula is on the verge of becoming a mature community with sought after amenities, booming commercial and residential growth, a string of new parks, road improvements, soon-to-children's museum, community theater, and a new library.

Whereas Temecula a decade ago was primarily known for its affordable houses sought by first-time buyers, the city is now attracting many buyers who are seeking their final "trophy" homes. While these trends have priced some young families out of Temecula's housing market, costs are still lower than San Diego communities south and Orange County communities west. For example, a home

that ranged from $433,000 to $460,000 in San Marcos was priced from $320,000-$340,000 in Temecula. Can you imagine what that home costs in a coastal community? That price disparity, the availability of larger lots, excellent schools, and the area's perceived quality of life has made the city a magnet for buyers from San Diego and Orange counties, where many Temecula-area residents work. Further, it is a community dotted with scores of homes in the Wine Country and the western hills worth a million dollars or more, a jump from just a few that existed a decade ago.

Why Southwest Riverside County? Why Temecula? Quality of life, housing prices, and growing employment opportunities combined with easy access to a wide variety of recreational options make it a great place to live and invest for young and old.

 Patricia Shawaker, Realtor RE/MAX Experience

 Pats

www.TemeculaAreaRelo.com

This article is intended to provide information on real estate.  For tax, legal or financial advice, consult professionals in those fields.

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