Kelly Smith's La Cresta, Santa Rosa Plateau, Temecula Valley News

Modification of current Mortgages

2008-11-07T07:11:00.000-08:00

MAKING SENSE OF THE STORY FOR CONSUMERS·

Early projections indicate that only 20,000 troubled homeowners will apply for the “Hope for Homeowners” program, a considerable reduction from the previously estimated 400,000 homeowners who were expected to apply. The $300 billion program was launched Oct. 1 and is designed to help troubled homeowners rewrite a “risky” mortgage loan into a 30-year, fixed-rate loan with a lower interest rate. During the first two weeks of the program, the Federal Housing Administration, which oversees Hope for Homeowners, reported receiving only 42 applications. Some housing experts believe the low application rate is due to the program being voluntary for lenders and provisions requiring homeowners to agree to an equity share with the government.

La Cresta and REO Buyers - a cool loan!

2008-11-03T09:54:00.000-08:00

'203K' – FHA LOAN Product 3.5% down

203ks – Allows $35k in safety and code repairs
203k – Allows $35k for any repairs or structural improvement

Work done within 6 months
Must live there one year before selling
Maximum is FHA limit, currently $500k in Riv County
Little higher interest rate, but on 3% down until end of year (then 3.5%)
580 FICO needed
No investment properties

Historical Rate Cut!

2008-10-30T13:20:00.000-07:00

FED CUTS KEY INTEREST RATE TO 1 PERCENT
The Federal Reserve continued to shave points off the federal funds rate, reducing it by 50 basis points to 1 percent today, the lowest rate in half a century. Analysts characterized the move as another effort to stave off a prolonged downturn in the nation's economy."The pace of economic activity appears to have slowed markedly, owing importantly to a decline in consumer expenditures," the Fed said in a prepared statement. "Business equipment spending and industrial production have weakened in recent months, and slowing economic activity in many foreign economies is damping the prospects for U.S. exports. Moreover, the intensification of financial market turmoil is likely to exert additional restraint on spending, partly by further reducing the ability of households and businesses to obtain credit."In light of the declines in the prices of energy and other commodities and the weaker prospects for economic activity, the Committee expects inflation to moderate in coming quarters to levels consistent with price stability."Recent policy actions, including today's rate reduction, coordinated interest rate cuts by central banks, extraordinary liquidity measures, and official steps to strengthen financial systems, should help over time to improve credit conditions and promote a return to moderate economic growth," the Fed said. "Nevertheless, downside risks to growth remain. The Committee will monitor economic and financial developments carefully and will act as needed to promote sustainable economic growth and price stability."

Solar Power on the Santa Rosa Plateau

2008-09-25T13:26:00.000-07:00

The Visionary behind Southern California’s newest Renewable Energy company resides right here in La Cresta, on the Santa Rosa Plateau! Launched in September 2008, after years of research and development, is Ambassador Energy, Inc., the brainchild of local custom home builder, Steve Fulgham.

Says Mr. Fulgham, “Ambassador Energy is a labor of love - with passion for our clients, our employees and our planet Earth. All of us at Ambassador Energy feel fortunate to be involved in the endeavor of ecological conservation & enlightenment. We are proud to be pioneers and dedicated advocates!”

Visit Ambassador Energy, Inc. at www.AmbassadorEnergy.com.

Foreclosure Auction Riverside County

2008-08-11T09:18:00.000-07:00

Lender Foreclosure Home Auction! 1000+ homes. Sunday, August 17th . Call Kelly for details 951-304-3695.

FEDS offer foreclosure relief!

2008-08-02T11:30:00.000-07:00

C.A.R. APPLAUDS TODAY'S PASSAGE OF H.R. 3221, THE "HOUSING AND ECONOMIC RECOVERY ACT OF 2008"

C.A.R. applauds President Bush's decision today to sign H.R. 3221 into law. For the past several years, C.A.R. and the NATIONAL ASSOCIATION OF REALTORS® have aggressively lobbied for Congress to pass numerous provisions found in this historic bill.

The legislation, called the Housing and Economic Recovery Act of 2008, will assist an estimated 400,000 homeowners facing foreclosure, many of whom reside in California, by allowing them to refinance their current mortgages with a Federal Housing Administration (FHA)-backed loan. The bill also will permanently increase FHA, Fannie Mae, and Freddie Mac loan limits in high-cost areas.

"This federal housing bill is a significant move in the right direction for California homeowners," said C.A.R. President William E. Brown. "It will aid in stabilizing our economy and help stem foreclosures, while also providing support to first-time homeowners."

The bill permanently increases the conforming loan limit to $625,500. C.A.R. has long advocated for higher conforming loan limits. In February, the Economic Stimulus Act of 2008 was signed, temporarily raising the conforming loan limit in high-cost areas to $729,750 from $417,000 until December 31, 2008.

Interest Rates

2008-07-24T08:05:00.000-07:00

MORTGAGE INTEREST RATES DECLINE ON MARKET UNCERTAINTY, POSSIBLE FED ACTION

Interest rates on the 30-year fixed-rate mortgage (FRM) averaged 6.26 percent with an average 0.6 point for the week ending July 17, down from an average of 6.37 percent the previous week and 6.73 percent a year ago, according to the latest Freddie Mac Primary Mortgage Market Survey®(PMMS®)."Mortgage rates fell this week amid market speculation that the Federal Reserve may not raise the overnight bank-lending rate this year after all," said Frank Nothaft, Freddie Mac vice president and chief economist. "Some of the factors motivating the change in market perceptions this week included retail sales for June rising at the slowest pace since February and consumer sentiment in July holding at low levels not seen since 1980."

La Cresta 4th of July Event was a huge hit!

2008-07-17T11:05:00.000-07:00

4th of July in La Cresta was, as always, a date to remember! It started with our straight-from-Mayberry parade in the morning, followed by the annual community BBQ in the afternoon and many private parties throughout the day. We were pleased to host on our fire truck this year clients and friends - but only ones who are not afraid to get wet. Water wars were on and this year was the craziest yet! Next year, more water, more automation in refilling and even more decorations. It is a work in progress and a highlight of the parade!

2008-07-17T10:18:00.000-07:00

FIVE CALIF. CITIES ON LIST OF FASTED-GROWING; VICTORVILLE IS SECOND IN THE NATION

While there are signs of a slowdown in migration to the West and sunbelt region, California continues to see steady population growth, placing five cities on the list of the 25 fastest-growing large municipalities in the country between 2006 and 2007, according to new population estimates from the U.S. Census Bureau.According to the report, Victorville, Calif. saw a population increase of 9.5 percent to 107,232 in 2007, putting the San Bernardino County city second on the list of the nation's fastest-growing large cities with populations of 100,000 or more. New Orleans ranked number one on the list, with a population increase of 13.8 percent to 239,124 after a seeing its population in 2005 dwindle to half in the wake of Hurricane Katrina.The other four California cities that made the list are Bakersfield; Irvine; Moreno Valley; and Visalia.

FORECLOSURE RELIEF BILL BECOMES LAW

2008-07-11T20:49:00.000-07:00

This week, the State Legislature enacted foreclosure reform law to address the adverse effects of high foreclosure rates in California. The new law requires lenders to contact homeowners to explore options for avoiding foreclosure at least 30 days before filing a notice of default. It also requires owners acquiring property through foreclosure to maintain the exterior of vacant residential properties. The new law also extends from 30 to 60 days the time for residential tenants to move out of properties that have been foreclosed upon, unless other laws apply. These requirements will remain in effect until January 1, 2013. The full text of Senate Bill 1137 (Perata) is available at www.leginfo.ca.gov.

Highlights of the new law are as follows:

- Contact Between Lender and Borrower: Effective on or about September 8, 2008, a lender, trustee, or authorized agent may not file a notice of default until 30 days after contacting a borrower to assess the borrower's financial situation and explore options for avoiding foreclosure. A lender must generally contact the borrower in person or by telephone, or satisfy due diligence requirements for contacting a borrower. During the initial contact, the lender must inform the borrower of the right to request a meeting with the lender within 14 days. The lender must also give the borrower the toll-free number for finding a HUD-certified housing counseling agency. A subsequent notice of default must include the lender's declaration that it has contacted the borrower, tried with due diligence to contact the borrower, or the borrower has surrendered the property. A lender who had already filed a notice of default before the enactment of this law must include a simila r declaration in the notice of sale. This requirement to contact borrowers applies to loans secured by owner-occupied residences made from 2003 to 2007. Certain exemptions apply if the borrower has filed for bankruptcy, surrendered the property, or contracted with a person or entity whose primary business is advising people, who have decided to leave their homes, on how to extend the foreclosure process and avoid their contractual obligations.

- Maintenance of Vacant Properties: Effective July 8, 2008, anyone who acquires property through foreclosure must maintain the exterior of vacant residential property. Violations of this law include permitting excessive foliage growth that diminishes the value of surrounding properties, failing to take action against trespassers or squatters, failing to take action to prevent mosquitoes from breeding in standing water, or other public nuisances. This law authorizes a governmental entity to impose a civil fine up to $1,000 per day for any violation, as long as the owner has been given notice and an opportunity to remedy the violation. A violator must be given at least 14 days to begin, and 30 days to complete, such remediation before a fine can be assessed.

- 60-Day Notice to Terminate Tenants: Effective July 8, 2008, a tenant or subtenant in possession of a rental housing unit that has been sold through foreclosure is generally entitled to a 60-day written notice to quit, not just 30 days. However, a borrower who remains on the property after foreclosure may be served a three-day notice to terminate. This law does not affect, among other things, rent-controlled properties with just-cause evictions. Effective on or about September 8, 2008, the lender, trustee, or authorized agent posting a notice of sale must also post and mail a specified notice of a tenant's right to a 60-day eviction notice from the new owner, unless other laws apply. This requirement to notify tenants of their rights applies to loans secured by residential real property where the borrower has a different billing address than the property address.

18% Increase in California Home Sales

2008-06-29T12:01:00.000-07:00

Home sales increased 18.1 percent in May in California compared with the same period a year ago, while the median price of an existing home fell 35.3 percent, C.A.R. reported today.
"Home sales exceeded 400,000 last month for the first time since early 2007. While this is a welcome sign for the market, it was due in part to the large share of distressed homes for sale in many parts of the state," said C.A.R. President William E. Brown. "Sales also rose above their year ago levels for the second month in a row after 30 consecutive months of year-to-year decreases. The lower prices associated with distressed sales along with favorable interest rates both contributed to higher sales levels."
The median price of an existing, single-family detached home in California during May 2008 was $384,840, a 35.3 percent decrease from the revised $594,530 median for May 2007, C.A.R. reported. The May 2008 median price fell 4.7 percent compared with April's $403,870 median price.

Investors and Home Buyers on the Rise

2008-06-12T09:35:00.000-07:00

PENDING HOME SALES UP 6.3 PERCENT IN APRIL ...The number of pending sales contracts for existing homes rose 6.3 percent in April, according to the latest Pending Homes Sales Index from NAR. The Index rose to 88.2 in April, up from 83 in March.
"Pending sales contracts have picked up notably in areas undergoing significant price drops," said Lawrence Yun, NAR chief economist "Bargain hunters have entered the market en masse, especially in areas that have experienced double-digit price declines, but it's unclear if they are investors or owner-occupants."

Santa Rosa Plateau Garden Tour

2008-05-08T08:04:00.000-07:00

Wow! Another fantastic year for the Garden Tour, supporting 3rd grade field trips to the Santa Rosa Plateau! The event was held on April 26th, a beautiful Southern California sunny day. One standout of the event was a 10,000sf estate in La Cresta Highlands with grounds to rival Disneyland. Thanks to the Reid Family for their participation in prepping your grounds, bringing in metal horse and dinosour statues and cheerfully hosting the patrons on the tour. For a private tour of the grounds and home, which is available to purchase, please call Kelly! 951.304.3695

La Cresta and Beyond...Improving!

2008-05-08T07:38:00.000-07:00

PENDING HOME SALES DOWN 1 PERCENT IN MARCH

Sales of existing home sales in March declined 1 percent to 83 units from 83.8 in February, a 20.1 percent decline from March 2007 at 103.9, according to NAR's recent Pending Home Sales Index.
NAR reports that agents across the country are reporting an up-tick in interest among buyers, but actual home sales remain hampered by tougher mortgage lending guidelines.

"The extent of an expected recovery hinges on better access to affordable loans," said Lawrence Yun, NAR chief economist. "Things are beginning to improve, but the availability of affordable mortgages is uneven around the country and sometimes within metropolitan areas. As anticipated, we continue to look for a soft first half of the year, for both housing and the economy, before notable improvements in the second half. Some time is needed for FHA and new conforming jumbo loans to become widely available."

Feng Shui

2008-05-01T08:27:00.000-07:00

BIG YELLOW TAXI
"Don't it always seem to go. You don't know what you've got til it's gone. They paved paradise and put up a parking lot....."
--Joni Mitchell

Almost forty years ago, the lyrics to this song were written and they seem just as relevant, more so, today. We can't divorce ourselves from a natural environment. That, in and of itself, is one definition of bad feng shui.

Karter Diamond, Fung Shui Specialist

La Cresta is the perfect place for Solar!

2008-04-08T09:22:00.000-07:00

C.A.R. GREEN TIP OF THE WEEK: CALIFORNIA GOES SOLAR
This week marks the debut of "Green Tips," facts and information designed to assist you in greening your business practices and better serving your green-minded consumers. Look for this regular feature in C.A.R. Newsline each week as part of the Association's effort to raise member awareness about environmentally sound practices.
The California Solar Initiative "Go Solar, California!" has established the goal of creating 3,000 megawatts of new solar-powered electricity by 2017, or enough to power 1 million homes. This program will allocate $3.3 billion to businesses, homeowners, and builders who qualify for rebates and incentives if they install solar systems on their homes or commercial buildings. The California Energy Commission funds solar electricity systems on new homes; the California Public Utilities Commission funds solar electricity systems on existing businesses and homes.

FED CUTS KEY INTEREST RATE IN AN EFFORT TO FURTHER BOOST ECONOMY

2008-03-20T10:31:00.000-07:00

The Federal Reserve on Tuesday lowered the federal funds rate 75 basis points to 2.25 percent citing continued concerns about the country's softening labor market, stalled consumer spending, and turmoil on the financial markets over the mortgage credit crisis."Today's policy action, combined with those taken earlier, including measures to foster market liquidity, should help to promote moderate growth over time and to mitigate the risks to economic activity," the Fed said. "However, downside risks to growth remain. The Committee will act in a timely manner as needed to promote sustainable economic growth and price stability."

Garden Tour in La Cresta

2008-03-06T14:18:00.000-08:00

The Santa Rosa Plateau Garden Tour is an annual event that you do not want to miss! Seven beautiful estates will open their grounds for this fundraiser, raising money for third grade ecological education on the Santa Rosa Ecological Reserve. Homes in La Cresta and Tenaja will be featured. You will see everything from traditional gardens to drought resistant California native garden to a playground wonderland. Tax deductible tickets $20 at the door to La Cresta.

Conforming Loan Limits FINALLY increased!

2008-03-06T14:13:00.000-08:00

FHA Loan Limits
Effective3/5/2008 1 unit 2 units 3 units 4 units
Riverside County $500,000 $640,100 $773,700 $961,550
San Bernardino County $500,000 $640,100 $773,700 $961,550
Orange $729,750 $934,200 $1,129,250 $1,403,400
San Diego $697,500 $892,950 $1,079,350 $1,341,350
Los Angeles $729,750 $934,200 $1,129,250 $1,403,400

Web site to look up current maximum loan limitshttps://entp.hud.gov/idapp/html/hicostlook.cfm

La Cresta, Santa Rosa Plateau Garden Tour!

2008-02-14T10:11:00.000-08:00

Come one, Come All! This event is not to be missed. See seven Plateau and La Cresta homes' gardens/grounds. Donation of $15. Tickets may be purchased at the entrance to La Cresta.
Saturday April 26th, all day.

PRESIDENT SIGNS $168 BILLION ECONOMIC STIMULUS BILL

2008-02-14T10:03:00.000-08:00

President Bush today signed off on the $168 billion stimulus package approved by Congress last week, which, in addition to tax rebates for millions of working Americans and business owners, includes a vital, but temporary increase in the conforming loan limit. The economic stimulus package will allow the Federal Housing Administration, as well as Fannie Mae and Freddie Mac to offer mortgages above the current conforming loan limit of $417,000 to as much as $729,750 in high-cost areas for loans originated between July 1, 2007 and Dec. 31, 2008.
"The actions of Congress and our president represent a significant victory for homeowners across the state and nationwide," said C.A.R. President William E. Brown. "C.A.R. has long fought for increases to the conforming loan limit in order to close the gap for would-be home buyers in high-cost areas, such as California, and, with the spotlight now fully shining on this important issue, will continue those efforts and push for permanent changes beyond Dec. 31."

2008-01-31T21:04:00.000-08:00

FED CUTS INTEREST RATES BY HALF A POINT
The Federal Reserve today cut a key short-term interest rate by a half-percentage point, the second significant rate cut in just over a week, in an effort to stave off a growing risk of a national recession.
"Financial markets remain under considerable stress, and credit has tightened further for some businesses and households," the Fed said in a prepared statement. "Moreover, recent information indicates a deepening of the housing contraction as well as some softening in labor markets."

Fantastic Lending News!

2008-01-25T10:32:00.000-08:00

Congressional leaders and the White House today reached agreement on a proposal to increase conforming loan limits as part of a larger economic stimulus package.Currently, Californians are forced into more expensive non-conforming jumbo loans, decreasing homeownership opportunities for many and forcing others into more costly – and often riskier – loan products.
Under the terms of the proposed stimulus package, the conforming loan limit -- the maximum loan amount that government-sponsored enterprises like Fannie Mae and Freddie Mac may purchase or guarantee on the secondary market -- will be raised from $417,000 to as high as $725,000 in high-cost areas.

HUGE RATE CUT

2008-01-23T19:37:00.000-08:00

FED LOWERS KEY INTEREST RATE TO 3.5 PERCENTThe Federal Reserve slashed its key federal funds rate three-quarters of a point to 3.5 percent Tuesday in an effort to stave off recession fears."The Committee took this action in view of a weakening of the economic outlook and increasing downside risks to growth," the Fed said in a prepared statement. "While strains in short-term funding markets have eased somewhat, broader financial market conditions have continued to deteriorate and credit has tightened further for some businesses and households. Moreover, incoming information indicates a deepening of the housing contraction, as well as some softening in labor markets."

Real Estate News

2008-01-12T03:18:00.000-08:00

CBIA CALLS FOR SLOW RECOVERY IN 2008
The California Building Industry Association (CBIA) is calling for modest recoverythis year within the new-home construction sector, but cautions that reforms for streamlining thebuilding process, and promotion of construction of more affordable new homes are needed.
"By mid-2008 the housing industry will show signs of growth," said Alan Nevin, CBIA's chief economist. "Continued population growth, a reduction of existing inventory, and a return to normalcy in the credit markets are a recipe for a more positive 2008. As a result, we are projecting a slight increase in new home sales over last year."

Pendings UP

2007-12-14T07:39:00.000-08:00

PENDING HOME SALES UP 0.6 PERCENT
Pending contracts for home sales in October rose modestly by 0.6 percent to 87.2 from an upwardly revised index of 86.7 in September, according to NAR's Pending Home Sales Index released Monday. The increase marks the second-consecutive monthly gain, but remains 18.4 percent below the October 2006 index of 106.8.

"Now that mortgage conditions have improved, some postponed activity should turn up in existing-home sales over the next couple of months, and I expect sales at fairly stable to slightly higher levels," Lawrence Yun, NAR's chief economist.

FREE INVESTORS REO SEMINAR

2007-12-11T09:28:00.000-08:00

Great news for La Cresta and Santa Rosa Plateau property owners! My firm, Oak Tree Realty Group, has created an Investors Seminar specifically located for us here on the Plateau and Bear Creek!

Save the date:
January 15th at 6:30pm
Location: One of our REOs across Clinton Kieth from Bear Creek

We will get a quick synopsis of the Bank Owned REO Market, see a sampling of bank-owned available properties, have a quick Q&A and one-on-one consultations. Tacy Nichols, a La Cresta property owner and lender extraordinaire will be on hand to answer financial questions.

THERE WILL BE NO HIGH-PRESSURE SELLING. THIS IS A SERVICE TO PROVIDE OUR NEIGHBORS AN INSIDE GLIPSE OF THIS FANTASTIC MARKET.

Reservations requires, as seating is limited. Email ksmith@lacresta.com today.

Good News La Crestans

2007-12-11T09:27:00.001-08:00

INTEREST RATES ON LONG-TERM MORTGAGES HIT TWO-YEAR LOWInterest rates on 30-year fixed-rate mortgages averaged 6.10 percent for the week ending Nov. 29, down from 6.20 the prior week, and 6.14 a year ago, according to Freddie Mac's Primary Mortgage Market Survey®. Rates have not been lower since they averaged 6.03 percent in October, 2005.

"Interest rates for U.S. Treasury securities have been drifting lower this month over market concerns that the housing slump and stress in the credit markets could slow future economic growth," said Frank Nothaft, Freddie Mac vice president and chief economist. "As a result, interest rates for fixed-rate mortgages had room to slip lower this week."

Why I got in the REO Game!

2007-11-29T14:22:00.000-08:00

If you're what's known as an "opportunity investor" in real estate, looks like your prime time may be now ... or very soon!

Economists say the next 12 to 18 months could be your best period since the early 1990s to pick up property at depressed prices -- discount diamonds in the rough and turnaround situations. That's because the real estate down-cycle is close to running its course in many local markets, where prices today are 10 to 25 percent below their peak levels of two and three years ago.

Serious investors understand that real estate is an all-weather, cyclical business: When times are tough for some owners, the opposite is true for investors with the knowledge, negotiating skills and vision to help distressed owners out of their jams.

We recently caught up with economist and real estate consultant Jack McCabe of Deerfield Beach, Florida -- just up the coast from Miami Beach. McCabe's company advises opportunity investors who are now buying waterfront and inland condo units and single family houses at 30 to 40 percent discounts off last year's pricing.

"If you're going to be in the game," according to McCabe, "you've got to be active right now before it's too late" -- the market bottoms out and the anticipated gradual rebound begins.

We also checked in with the most famous opportunity investor in American real estate -- Sam Zell, who once described himself as "the grave dancer." From the early 1970s through the 1990s, Zell turned himself into a multi-billionaire by spotting and acquiring distress property for pennies on the dollar in situations that he knew offered outstanding long-term value potential.
Zell was speaking recently to real estate economics students at the Wharton School at the University of Pennsylvania. "What's different about the current real estate down cycle?" he was asked. The big factor today, said Zell, is financing. In all the earlier down cycles of the seventies, eighties and nineties, money was extremely expensive for investors -- or just impossible to obtain.

This time around, capital is relatively cheap -- and available -- whether from regular lenders or private equity sources. That's an important point for anyone thinking about whether, and how quickly, to get involved.

So where are the top opportunity markets right now -- places where real estate values are down the most compared with a year ago -- and where boom-time speculators are most eager to bail out of their mistakes at deep discounts?

Riverside-San Bernadino, California
Fort Myers, Florida
Las Vegas
Phoenix
Miami-Fort Lauderdale
Los Angeles
Orlando
Tampa
Cleveland
Metropolitan Washington DC

Investor Outlook by Kenneth R. Harney
Published: November 29, 2007

...Housing Still Safe Long-Term...

2007-11-14T18:33:00.000-08:00

DESPITE PRICE DECLINES, HOUSING STILL SAFE LONG-TERM INVESTMENT
Despite declining home prices as recently reflected in an S&P/Case-Shiller home price statistics survey, on average, the nation's top markets have experienced price appreciation by as much as 50 percent over the past five years, according to comparable data from the National Association of Home Builders (NAHB).
"It's important to keep things in perspective," said NAHB President Brian Catalde. "The current housing price correction is most pronounced in the once super-heated markets in California, Nevada, Florida and Arizona. In most other markets, price declines have been pretty modest."
According to the NAHB's comparable data tables, home prices in Los Angeles dipped 5.7 percent in the last year, but have appreciated by 88.9 percent since 2002. San Francisco home prices have declined 4.2 percent in the last year, but have seen appreciation of 46.7 percent since 2002. Home prices in San Diego have fallen by 8.3 percent in the last year, but have appreciated 54 percent since 2002, according to the report.

MORTGAGE RATES HIT SIX-MONTH LOW

2007-11-07T18:26:00.000-08:00

The 30-year fixed-rate mortgage averaged 6.26 percent for the week ending Nov. 1, its lowest point since May, compared with 6.33 percent a week earlier, and 6.31 for the same period a year ago. The five-year Treasury-indexed adjustable-rate mortgages averaged 5.98 percent for the week, down from the previous week from 6.03 percent, and 6.05 for the same period a year ago.
CAR 11.7.2007

Today's Market

2007-11-01T20:27:00.000-07:00

Bad Real Estate Market? Not here. Not now. Not for a second.

If you need to sell NOW, it may not be the best time, and I would advise you to price your property aggressively or be prepared to wait it out. However, if you are of the few savvy buyers who are willing to diversify your income stream by picking up some crazy-priced listings and/or REOs (Real Estate Owned by Banks), now is a GREAT time! We have not seen a market this ideal in many many years! Now is the time to let your money and your credit help you make more money. Live in fear of this real estate market or embrace it and let it change your life!

Oak Tree Realty Group, my new brokerage, has over 275 bank owned listings ready for the picking. Call me today and I will help you fine-tune your parameters and potential ROI. We can cherry pick together!

2007-10-10T09:55:00.000-07:00

Congrats to all the elves and leaders of this year's La Cresta Fiesta! The Taste was a HUGE hit with our community this past Saturday, as we all enjoyed live music, dancing, shows, contests, silent auction, games, rides and for the first time ever - Tastes of local restaurants. As the M/C of the event, I was able to see from the stage this lovely demonstration of community spirit. I am proud to be a part of La Cresta and the Santa Rosa Plateau! Thanks again to all who helped! Hugs, Kelly Smith.

2007-10-09T20:54:00.000-07:00

Last week on the Today Show, during a segment on the national real estate market, CNBC’s Jim Kramer uncompromisingly stated, “now is the absolute worst time to buy!”
Concerned that remarks such as these from so-called experts might be pushing potential buyers to the sidelines? Here’s what Gary Keller, co-founder and chairman of Keller Williams Realty has to say about waiting out the current market:

First, residential real estate is not a national market product — it is a local one. To say from a national position that this is either a good time or a bad time to buy real estate is like saying the national forecast for the U.S. today is 92 degrees — it is a useless and irrelevant perspective. What is happening in your local market is all that matters.

Second, trying to predict when it is a good time to buy, or not, means you’re trying to time the market. Staying on the sidelines is the surest way for most people to never time anything correctly.

Last, and maybe most important — there are always two markets in every market. There is the market of properties that are good buys and there is the market of properties that are not a good buys. Interestingly enough, this is true in either buyer or seller markets. To categorically say that this is the time to buy or not is absolutely ignoring the fact that every market really has two markets inside it.

FED LOWERS INTEREST RATES TO 4.75 PERCENT

2007-09-22T20:20:00.000-07:00

The Federal Reserve lowered key short-term interest rates yesterday for the first time in four years to 4.75 percent from 5.25 percent, hoping to promote moderate economic growth, and ease pressure linked to the mortgage credit crisis and slumping housing market.
"The tightening of credit conditions has the potential to intensify the housing correction and to restrain economic growth more generally," the policymaking Federal Open Market Committee said in a statement Tuesday. "Today's action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and to promote moderate growth over time."

CAR 9/19/2007

Consumer Confidence Reaches a 6-year High in July

2007-08-03T11:54:00.000-07:00

The Consumer Confidence Index reached a six-year high in July after falling off in June, a rebound economists view as a sign of gathering economic momentum focused away from the slowdown in the housing market and on job growth, according to The Conference Board.

The Consumer Confidence Index climbed to a 112.6 in July, up from 105.3 in June."An improvement in business conditions and the job market has lifted consumers' spirits in July," said Lynn Franco, director of The Conference Board Consumer Research Center. "Looking ahead, consumers are more upbeat about short-term economic prospects, mainly the result of a decline in the number of pessimists, not an increase in the number of optimists. This rebound in confidence suggests economic activity may gather a little momentum in the coming months."

Markets May Have Hit Bottom

2007-06-16T16:13:00.000-07:00

Sales of new single-family homes jumped 16.2 percent in April -- the largest increase in 14 years (Commerce Department)This obviously reflects what's happening; we're in a buyers market. I hear the concern for buyers wondering if the prices of houses are going to fall further. They might -- and they might not.

Nevertheless, buyers are taking advantage of several aspects of the market that make it favorable to purchase: • Lower prices• Low interest rates• Seller contribution to closing (tens of thousands of dollars)• Free upgrades, i.e., finished basements, decks, finer appointments, etc.

Some buyers continue to wait for prices to move upward to signal the sign of the end of depreciating real estate; they'll also wait and miss out on the add-ons that are being thrown in at the base pricing. Instead of getting the $15,000 in closing and a $25,000 mortgage, they'll pay a little more for the house with a security that the prices have stopped falling. Their confidence in a recovering market outstrips their desire for free upgrades and cash at the table.

Keep in mind that as the market starts to turn, so will the offers of seller subsidies. A second bit of news is: More than half of the nation's housing markets are appreciating or have at least stabilized (HousingPredictor.com).The trending out there is showing that where a year ago more than two-thirds of the major metropolitan housing markets were faltering, now the trend is upward -- meaning that while some may still be in a negative range, it's less negative than before, i.e., moving from -5 percent to -1 percent -- could we soon be in positive territory? The trend is upward.

Buyers take notice and get in now while you can. Once prices begin their move upward, if coupled with a continuing growing economy, the interest rates may start moving upward alongside the upwardly mobile house prices, meaning more money per month.

The forward-looking index for the commercial real estate market rose in the first quarter to the highest level on record. The index has risen for eight consecutive quarters (National Association of Realtors)Why is commercial real estate important to the residential buyer? Commercial development signals job growth. With job growth comes more pressure on the number of houses available to those taking the jobs.

Meanwhile, the Office of Federal Housing Enterprise Oversight released the first quarter numbers for 2007. Average home prices nationally were 4.3 percent higher in the first quarter of 2007 than in the same period in 2006.Not taking away the pain many homeowners felt during this latest downturn and many of the foreclosures that hit with sub-prime market -- there was no bubble burst. In fact, it WAS a soft landing as many had predicted.

Here's another concern fence-sitting buyers should take into account -- interest rates. They're heading upward again. Buoyed by strong economic gains and growing corporate profits, the stock market keeps heading upward. Thus, the bonds move upward as well (I'm simplifying it, of course.) and the interest rates for real estate mortgages follow suit.In the last few months average mortgage rates have crept up to 6.35 percent from 6.03 in March, costing home shoppers buying power as the cost of money increases along with the average cost of the price of a house.Thus if the prices continue their upward climb, let's say at a mere 4 percent over the coming months, the average priced home (nationally) at $220,500, according to the National Association of Realtors, would then be priced $8,820 more at $229,320. Thus, the average house requires a higher mortgage. With just the interest rate jump since March, that money will now cost even more with a higher interest rate coupled with a higher price.

Waiting, while making sense in the short-term, could come back to bite a buyer in the long haul. Published: June 15, 2007 by M. Anthony Carr

Prepare your Home for Summer!

2007-06-09T14:16:00.000-07:00

Energy costs are have risen sharply in recent months, and many people are concerned about the strain of summer energy usage on our natural resources and budgets. How can you do your part to reduce energy usage, conserve natural resources and save money? Here are some energy-conscious ways you can prepare your home for the warmer months of summer.
 Replace incandescent bulbs with compact flourescents, which use 75 percent less energy and can last up to nine times longer.
 Install motion sensors, timers or photocells for greater control over your lighting needs.
 Insulate your home properly. Installing insulation with the proper “R Value”, ventilating your attic and weather-stripping and caulking can help keep your home cool in the summer and reduce your energy usage.
 Adjust your air conditioning thermostat to 78ºF or higher. A setting of 78ºF instead of 72ºF can save up to 12 percent off your cooling costs.
 Install low-flow devices on faucets and showerheads. They can cut up to 11 percent of your water usage.
 Lower the thermostat on your water heater to 120*F, 140
F if you have a dishwasher. A 10*F reduction can save up to 5 percent on water heating costs.
 Fix leaks and dripping faucets. A slow drip of hot water can waste up to 350 gallons per month.
 Invest in a pool or spa cover and save up to 90 percent of your summer pool heating costs. Also, begin filtering your pool or spa by 7:00 a.m. to avoid peak hours of noon to 6 p.m. when energy is at its most expensive.
 Invest in energy-efficient appliances. By looking for the ENERGY STAR® symbol and EnergyGuide label you can select the best high-efficiency appliance for your budget.
 Give your home an energy checkup. Call SDG&E to find out more about energy audits, savings tips, rebates and services.

For more information contact SDG&E at 1-800-336-SDGE (7343) or visit us at http://www.sdge.com/.

Pending Home Sales Indicate Stablizing Market

2007-06-07T13:50:00.000-07:00

While pending home sales continued to edge down this month amidst the subprime fallout, NAR expects activity in the housing market to stabilize in the near-term, according to a recent report. The Association's Pending Home Sales Index (PHSI), a forward-looking indicator that gauges home sales activity for upcoming months, declined for the second consecutive month in April, falling 10.2 percent from a year ago to a reading of 101.4. While a PHSI of 100 or more generally indicates a high level of home sales activity, the April PHSI was the lowest reading in four years. "It looks like we may be leaving a period of market disruptions, and for the past two months the pending home sales index has been similar in year-ago comparisons, which means home sales might ease but should be fairly stable in the months ahead," said NAR Senior Economist Lawrence Yun.

CAR June 7, 2007

Looking Good La Cresta!

2007-05-03T08:31:00.000-07:00

La Cresta's Recipients of the "Looking Good Award " this month are property owners on Los Cabellos. The renewed landscaping on the 5 acre parcel emits a quiet, serene and natural feeling as you visiualize this property. The front is outlined with a nice old native rock wall and creates a lovely entry way. Old oaks seem placed perfectly,accompanied with plantings of pines, sycamores and eucalyptus trees. Throughout there are some light colored gravel paths, bordered with railroad ties and other wood planks. Also there are some darker gravel and raked areas creating islands for natural boulders and trees. Some contrast is given by the use of the Japanese blooming plum trees. From the entry to the inner area rosemary plants are well placed, mock orange shrubs and hawthornes --which presently are seen in pretty pink springtime bloom.

Congratulations on a job well done!
Beautification Committee

CA Home Prices Increase

2007-03-28T18:50:00.000-07:00

The median price of an existing single-family home in California increased 5.7 percent in February and sales decreased 9.6 percent compared with the same period a year ago, C.A.R. recently reported. "Sales in February were at their highest level in eight months, posting their smallest year-to-year decline in 14 months," said C.A.R. President Colleen Badagliacco. "Next month's report could tell a different story since sales last year peaked in March. Looking forward, we are likely to see smaller year-to-year declines as we enter the traditional buying season. Homes that are well maintained and are priced to reflect the realities of today's market will continue to sell."
NAR March 2007

Hello La Cresta from Arkansas

2007-03-19T17:07:00.000-07:00

Toto, we are not in La Cresta anymore...

A few weeks ago, I decided that there is no particularly great time to be gone from my marketplace. Kind of like having a baby...no perfect time...so just do it. My mom was invited to a TriDelt reunion in Little Rock Arkansas. She is a native Arkansan, which may have lent itself to my country bent. My roots have boots...So, here we left paradise for another type of paradise, Little Rock, Arkansas.

Now that the sorority soirees are over, we have the luxury of a few extra days, just hanging with the kin folk. As my kin aren't used to my OCD and the incessant tat tat tat, click click click of the computer, I have actually been forced to read a little.

Picked up some real estate magazines and picked up my jaw from the floor. I know things are cheaper outside of our Golden State, but heck jee willy. Things are down right crazy affordable here. And beautiful! Trees are flowering (I'm going to try to grow a Bradford Pear Tree when I get home!). Tree are everywhere! I am stunned at the beauty, the people and the value. However, just as I was thinking I would love to buy a little something out here, my mom came over with the fingernail polish to suffocate the Chigger that had burrowed into my skin. I guess a tick on my head is next. And I'll get on the plane and remember from where I came...

HOUSING RECOVERY LIKELY THIS YEAR

2007-03-19T17:05:00.000-07:00

Nationwide home sales are expected to reach annual levels similar to 2006, despite the recent weather patterns and challenges in subprime lending that have created ambiguity in the U.S. housing market, according to NAR's recent forecast. Existing-home sales should improve from the cyclical low experienced last fall and are projected to reach 6.42 million in 2007, according to the report. New-home sales are forecast at 950,000, down from 1.06 million in 2006.
Although the picture is somewhat unclear right now, "underlying trends point to a housing recovery in 2007," said NAR Chief Economist David Lereah. With winter storms likely to affect home sales in March, an upturn in closed transactions may not be evident until later this spring.
Information provided by CAR March 2007

La Cresta Consumers:

2007-03-05T12:47:00.000-08:00

Consumer Confidence is highest since 2001!

Boosted by a brighter outlook for the labor market and present day business conditions, consumer confidence rose for the third consecutive month in February and now stands at a five-and-a-half year high, according to yesterday's report from The Conference Board. The Consumer Confidence Index improved to 112.5 (1985=100) this month, up from 110.2 in January and 1.5 points below the last high of 114, reached in August 2001.

CAR March 2007

Can Fung Shui Help Sell a House?

2007-02-27T20:45:00.000-08:00

I'm often asked if there are any secret feng shui remedies that will help sell a house and the answer is that there are no magic spells or potions which will make prospective home buyers come out in droves.
In fact, whenever my teacher Master Sang is asked this question, he just laughs and says "lower the price."
That said, I do think it is reasonable to employ traditional feng shui remedies to a house to help sell it faster. If the house is still occupied by the sellers, they often need the same remedies to their home (for prosperity) that anybody would need if they were going to remain living there. By improving a homeowner's prosperity potential through the house, it often works out that their biggest and quickest financial result is the selling of the house.
If a house is no longer occupied by the sellers and being shown empty, the rooms are lacking the very elements they need in order to be balanced. I have worked with realtors who agreed to minimally stage a home with remedies so that the prospective buyers would be able to consciously or unconsciously feel the balance that the remedies have created by their strategic placement. This might be the proper placement of an inside or outside water feature, use of color according to five-element theory or using an element like metal in a properly placed piece of furniture.
In areas with heavy interest by Asian buyers there are sometimes obvious architectural flaws which might need to be addressed in a full-fledged report. A lot of people know about these flaws but they do not know how to fix them or if they are a major verses minor problem. As an example, many Chinese people will not buy a house at the end of a cul-de-sac or a corner house, but this is usually not the most important thing to be concerned with.
While I never guarantee results in helping to sell the property faster, I am often pleasantly surprised to hear back from the realtor that the house started getting more offers or was sold shortly after the remedies were applied.
Are there ever other forces at work that can sabotage the sale of a house? Sure, there could be other reasons and sometimes it is even the homeowner, who might be ambivalent about selling and they unconsciously hold onto the house.

Home Sales Sustainable

2007-02-19T09:17:00.000-08:00

PENDING HOME SALES INDICATE SUSTAINABLE SALES ACTIVITY

The latest pending home sales data tracked by NAR indicate a steady pace of home sales in the coming months, according to a recent report. In December, the Pending Home Sales Index (PHSI), which gauges home sales activity for upcoming months based on the number of transactions that have signed contracts but are not yet closed, stood at 112.4, up 4.9 percent from the previous month and down 4.4 percent from a year ago. A PHSI of 100 or more generally indicates a high level of home sales activity. The year-to-year declines in the index have narrowed over the last six months.
Source: NAR 2/7/07

Hello La Cresta from Kelly in Vegas

2007-02-14T13:29:00.000-08:00

I write to you from Las Vegas, where Keller Williams agents, team leaders, assistants, technicians have come together in a sea of RED 12,000 Keller Williamites strong. Intense classroom work and networking assure that I will return to the hill a better, stronger, more equipped Realtor. I look forward to being back in La Cresta and the Santa Rosa Plateau! Miss it, love it and can't wait to further serve it!

Kelly d Smith
Your La Cresta Realtor

Big Helpful News from the County

2007-02-05T21:29:00.000-08:00

To: Santa Rosa Plateau Community (Lot Splitters):

Since June of 2006, the County of Riverside has been requesting a slope analysis on all projects on the Plateau. The lack of the slope analysis is beginning to cause significant delays in processing of Parcel Maps on the Santa Rosa Plateau.

We are currently requesting color slope analysis for all Santa Rosa Plateau parcel maps. Every Parcel Map (Split Application) needs to prepare and submit a color slope analysis for all projects that have not previously submitted the analysis.

For all future Parcel Map Applications, you must provide a color slope analysis for all projects within the Santa Rosa Plateau/De Luz Policy Area with the initial project application.

Use the following coloring standards to note slope grades: 0.0 - 14.9 percent - Green; 15.0 - 19.9 percent - Yellow; 20.0 - 24.9 percent - Orange; and anything over 25.0 percent - Red. The exhibit should show the slope as solid shade, so the exhibit will be readable at Planning Commission and/or Director's Hearing.
This should be submitted with the development application. Submit one scale exhibit and one copy as a Microsoft compatible image file.

Uptrend in Builder Confidence Continues

2007-01-19T08:11:00.000-08:00

Buoyed by improved buyer demand, the confidence level of the nation's home builders continued its slow but steady climb in January, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The seasonally adjusted HMI stands at 35 this month, up two points from December and at its highest level since July 2006. An HMI below 50 indicates more builders view sales conditions as poor versus good.
"The same factors that were evident at the end of 2006 continue to hold true in today's housing market â€" improving affordability measures, strengthening consumer assessments of home buying conditions and an upswing in applications for mortgages to buy homes," said NAHB Chief Economist David Seiders. "Builders are starting to see that the worst is behind them and that buying conditions have improved to the point that greater optimism is warranted."

CAR Newsline 1-17-07

Forecast: Steady sales to boost home prices in '07

2007-01-12T08:26:00.000-08:00

After bottoming out in the fourth quarter of 2006, existing-home sales are forecast to gradually rise through 2007 and into 2008, while new-home sales should turnaround by summer, bringing modest price increases, according to the latest forecast by the National Association of Realtors.

David Lereah, NAR's chief economist, said annual totals for existing-home sales will be fairly comparable between 2006 and 2007. "We have to keep in mind that we were still in boom conditions during the first quarter of 2006 with a high sales volume and double-digit price appreciation," he said. "We are starting 2007 from a relatively low point, so even with a gradual improvement in sales it'll be pretty much of a wash in terms of annual totals. The good news is that the steady improvement in sales will support price appreciation moving forward."
Existing-home sales for 2006 are expected to come in at 6.5 million, the third highest on record, with a total of 6.42 million seen in 2007. New-home sales in 2006 should tally 1.06 million, the fourth highest on record, with 957,000 projected this year.
January 10, 2006 Inman News

CONSUMER CONFIDENCE HITS EIGHT-MONTH HIGH

2007-01-04T21:53:00.000-08:00

Following a two-month decline, the confidence level of the nation's consumers took an upward turn in December, according to a recent report from The Conference Board. The Consumer Confidence Index improved to 109.0 (1985=100) last month, up from 105.3 in November and nearly reaching the last high of 109.8, which was achieved in April. Also in December, the Present Situation and Expectations indexes increased to 129.9 and 95.1, respectively.
"Despite the latest improvement in the Index, there is little to suggest that the pace of economic activity in the final quarter of 2006 is anything but moderately better than its uninspiring performance earlier this year," said Lynn Franco, director of The Conference Board Consumer Research Center. "Given the see-saw pattern in recent months, it is too soon to tell if this boost in confidence is a genuine signal that better times are ahead."

Americans turn to Internet

2006-12-21T09:57:00.000-08:00

MORE AMERICANS TURN TO INTERNET FOR REAL ESTATE INFORMATIONThe number of Americans turning to the Internet for real estate information has more than doubled since 2000, according to a recent study by the Pew Internet & American Life Project. During the past six years, the number of online users who have searched for a place to live via the Internet has grown to 39 percent, up from 27 percent in 2000. This translates to more than one quarter of all adults in the U.S.

According to the study, online users ages 18 to 29 are the most likely to have searched the Internet for housing information compared with older adults, and youth is the strongest characteristic associated with the likelihood an Internet user would do so. Adults with more than six years of online experience and those with broadband connections at home also are more likely to explore online resources for housing information compared with users who have been online for shorter time spans or those who rely on dial-up connections.

Holiday Season on the Plateau

2006-12-16T09:08:00.000-08:00

La Cresta and the Santa Rosa Plateau is a magical place to be during the holidays. While we rarely have a white Christmas, we do have a nice seasonal change in the weather about this time.

We will be lucky to break 55 degrees today - a welcome change to the absolutely perfect weather we have had for the past two weeks. Sounds strange to say that, but when we hover happily in the 70s and 80s most of the time, days like this give us a chance to sit inside and read or even take in a football game on tv. Cozying up in sweats and slippers is just what the doctor is ordering after the many holiday parties hosted on the Plateau.

Parties have an elevated importance when you live in a rural community. Our parties include Riding Club pot lucks, ladies' luncheons, bingo, bunko, book club, daytime family fiestas, barn dances, wine parties and lots of private parties. Staying close to home is a priority, so we make the best uses of our properties by being social with one another. All of this gives us a sense of belonging, an opportunity for fun and the security of knowing that we are watching out for each other.

Happy Holidays to the friends and families of the Santa Rosa Plateau!

Record Highs for Luxury California Home Market

2006-11-25T11:36:00.000-08:00

LUXURY HOME VALUES HIT RECORD HIGHS IN THREE CALIFORNIA MARKETS

The value of high-end homes in Los Angeles, San Francisco, and San Diego posted record highs in the third quarter of 2006, according to the First Republic Prestige Home Index™, which tracks homes valued at more than $1 million in key California markets. Despite the record highs, rising inventories and longer sales cycles kept luxury home price appreciation to single digits in all three markets. In Los Angeles, which previously experienced 14 consecutive quarters of double-digit, year-over-year price appreciation, luxury home values increased 4.4 percent to $2.37 million.

The values of luxury homes in San Diego and San Francisco also recorded modest gains last quarter, rising 5.4 percent and 4 percent, respectively. According to the index, the average luxury home in San Francisco is now valued at a record $2.96 million, while the average luxury home value in San Diego is $2.18 million.

source: CAR California Association of Realtors

Feng Shui Tips for your Home

2006-11-01T14:34:00.000-08:00

Compliments of Kartar Diamond at Feng Shui Solutions
www.fengshuisolutions.net

Question:Do I have to worry about all my red Christmas decorations affecting the feng shui of my house?
Answer: Some people keep their decorations up for a couple months and if you plaster a room with red color, that is the fire element. There are actually a few clients who I have told to emphasize using white, green or gold instead of red. In some homes, depending on where the decorations are located, too much red could make some areas a flash point for arguments or accidents.

Question:Is it bad feng shui to sleep against an exterior wall?
Answer: This, in and of itself, is not a problem. What is more important regarding the placement of a bed is the location of doors, windows and the individual's own best personal sleeping direction based on their birth date.

Question:I've heard that a dark entry is bad and that an immediate view of a kitchen when entering is also bad. In my apartment, the opening to the kitchen is what provides light into my entry hall. So, which is worse, for me to close the kitchen door so I don't see it first thing and have a dark entrance or to have light filtering into my entry but a direct view of the kitchen? Answer: In this case it is more important to have some light when entering. A partial solution to this is to have short swinging "saloon" doors for the kitchen so that some light comes in and some view of the kitchen is blocked.

La Cresta Fiesta a Huge Success

2006-10-15T12:52:00.000-07:00

The Santa Rosa Plateau in Temecula Valley was once again home to the Fabulous La Cresta Fiesta! The event started with a low-key preview rehearsal on Friday night and ran all the way through Saturday night, with dancing under the stars - the perfect Fiesta ending.

Having been a part of the committee and M/C'ing the event, I was able to really appreciate what I saw from the stage and experienced personally. It gave me goosebumps to see neighbors, family and friends coming together to enjoy this old fashioned country party. Kids enjoyed the jumpies, rock climbing and Caren's country games. Teens screamed their way through the Haunted House. Local firemen bumped their way across the dance floor, attempting to master the Electric Slide. And adults ate, danced, shopped and didn't want to leave.

The silent auction, games, rides and donations raised money for local charities while we all got to know one another just a little better. This is what makes me love this community!

Kelly Smith
Pictured on the stage with Lobo Negro de las Rocas (my new doggie)
Thank you to my clients, the Fontneaus, for the excellent photography. You guys Rock!

Pending Home Sales Indicate Steady Market in Coming Months...

2006-10-08T21:15:00.000-07:00

In La Cresta, the Santa Rosa Plateau and much of Riverside County, we have a unique market. Many say a better market than that generally reported for California and the nation. With that in mind, it is certainly not doom and gloom around here...

Per California Association of Realtors (CAR):

The housing market will continue to stabilize in the months ahead, according to NAR's most recent Pending Homes Sales Index (PHSI). In August, the PHSI stood at 110.1, up 4.3 percent from the previous month and down 14.1 percent from August 2005. The index gauges home sales activity for upcoming months based on the number of transactions that have signed contracts but are not yet closed. A PHSI of 100 or more generally indicates a high level of homes sales activity.
"Our sense is that home sales may have reached a low in August -- the Pending Home Sales Index shows home sales should be fairly stable over the next two months, although a minor decline is possible," said NAR Chief Economist David Lereah. "With fewer new listings coming on the market, we should be able to draw down the inventory supply early next year to the point where home prices will rise, but at a slower pace than historic norms."

40 Contiguous Acres available in La Cresta on the Santa Rosa Plateau!

2006-09-29T19:28:00.000-07:00

Just 1.5 hours from any major attraction in Southern California is the community known as the Santa Rosa Plateau, featuring property owner associations: La Cresta, La Cresta Highlands, Santa Rosa West, Meadow Oaks and Tenaja. People from all over LA, OC and SD have the same expression on their faces when they see it for the first time. Dropping jaws and “I had no idea this was available in Southern California” is a common response.

For a very limited time, there is a special opportunity to own as many as 40 contiguous acres nestled against the Cleveland National Forest in Southwest Riverside County. Officially in La Cresta POA, the opportunity to own this many acres with this many options is rare and wonderful.

The 40 acres consists of 6 APNs, a brand new 5000sf home, easy access and the privacy you thought was a thing of the past in SoCal.

40 acres, a brand new custom home, water, power and privacy for under $5,000,000.
Call Kelly Smith for more details. 951-304-3695

Affordable Texas Hill Country Airport Ranch

2006-09-29T19:25:00.000-07:00

If you love the natural offerings of La Cresta, the Santa Rosa Plateau and Southern California ranch communities, you should consider branching out to the good life in the Texas Hill Country.

California Equestrians, Investors, Pilots and Nature Lovers, check this out!
265 Acre Ranch just outside Austin in the Texas Hill Country. Fully equipped turnkey property will make a perfect corporate fly-in retreat, hunting lodge or estate extraordinaire! This magnificent property includes functioning air and heli-port, hangers, house, historic cabin, pond, river, rare trees…you get the picture.

A river runs through it and it is peppered with Pecan and Live Oak trees, wild turkey, deer, ducks, dove, emu, and critters only found in this neck of the woods.
Be the King or Queen of the Hill Country, as you fly in, fish in your own pond & the San Gabriel River and lodge comfortably in the 2900 square foot main house or turn-of-the-century limestone 2300 square foot cabin.

Done relaxing and got ants in your pants? Take your pick among endless recreation options: Play tennis on the lighted court, swim in your in-ground pool, fly from or tinker in any of your three aircraft hangers & 3 helipads, take a nice horseback ride from your private stable and corrals, or simply putter in the country.

While it’s rare to be able to afford this life anymore in California, it is still attainable in Texas. This unique ownership opportunity is available for under $2,500,000. Call Kelly Smith at 951-304-3695 for more information.

Mark your calendars for La Cresta Fiesta!

2006-09-22T09:22:00.000-07:00

The Plateau doesn't get any better than this! On October 13th and 14th, neighbors come together to celebrate another year on the beautiful Santa Rosa Plateau.

This family event hosts live music, chili champ cookoff, vendor booths, great food, a silent auction and even a haunted house for the kids! Admission is free to residents and guests of residents. Proceeds benefit local charities.

Schedule:
Friday Haunted House open 5pm-9pm

Saturday
11am La Cresta Fiesta Gates Open!
11-430pm Haunted House Mild Version for the Younguns
11am-9pm Themed Carnival Games
11am-5pm Rides
1-3pm Public Chili Tasting & Voting
12-6 Face Painting
1-2pm Reptile Show
2-3pm Children’s Dance Exhibit
3-330pm Magic Show
330pm Chili Champs Announcement & Awards
3-8pm Strolling Magic
5-9pm Haunted House Scarier Version

Food:
11am-9pm Linda Smith’s Famous Catering
11am-3pm Fire Station 75 Burgers & Dogs
11am-9pm Water available at Fiesta Ticket Sale Booths

Adult Entertainment:
1-330pm Chili Tasting & Voting
11am-5pm Vendor Booths
11am-8pm Silent Auction
430-830pm Dancing to live music!

Thanks to our major sponsors (over $500):

Lisa Leonard

Adel & Pollack Attorneys
Sansevieri Insurance
La Cresta Interiors
Temecula Valley Bank

To donate to the cause, contact Kelly Smith at 304-3695 or ksmith@lacresta.com

Thanks to Gidget and Team La Cresta Fiesta!

Stop the Powerlines & LEAPS Proposal

2006-09-22T08:30:00.000-07:00

ELSINORE VALLEY MUNICIPAL WATER DISTRICT - CANDIDATE FORUM October 3rd 7pm.
Sponsored by Friends of the Forest and Santa Rosa Plateau and Lakeland Village Neighborhood Association.
PRESS RELEASE
We have contacted all the candidates running for the 3 seats open on the EVMWD Board. The election is November 7th. A major issue is the HYDO DAM (Morrell or Decker Cyn) and PROPOSED HIGH VOLTAGE TRANSMSSION LINE planned to go west of the 15 freeway through Horsethief Canyon, Lake Elsinore, Lakeland Village, Wildomar, La Cresta, Tenaja, Rainbow and on to San Diego County.
We are providing a forum whereby all the candidates can present their views and where the audience can ask the candidates questions. Our forum will be on October 3rd at 7to 9 PM at David A. Brown Middle School, 21861 Grand Ave, Wildomar. The school is set back from Grand Ave. The Cross street is So. Pasadena, near Baxter. Arrive early for seating.

20 Acres La Cresta Highlands - Crown Jewel of Plateau

2006-09-19T16:03:00.000-07:00

CALLE BANDIDO at CALLE HUERTO - MURRIETA, CA 92562
$1,475,000

20.38 Approx.
Listing #: T607618

Once-In-Lifetime Opportunity! "Rancho Pacifico" in the Highlands at La Cresta.

Over 20 Acres of Everything the Santa Rosa Plateau can offer-Pano 2190 Ft Views, Year-round Stream, Boulders, Usable Horse Acreage, Ancient Oak Forest that no amount of money could ever recreate. Easy to drive & walk with Roads, Pads, Walk Trails. Owner entertaining offers between $1,495,000 and $1,795,000. Owner Will Carry Up To 70%! Considerable time and capital already invested in Parcel Split - Now in process of being subdivided into 3 parcels. Keep them or sell them. Great investor opportunity!

Call Kelly Smith for information on this and other area properties.
ksmith@lacresta.com 951-304-3695

View this property at www.KellyDSmith.com

Breathtaking Canyon Lake Estate For Sale: 29690 Big Range Road, Canyon Lake, CA 92587

2006-09-06T23:54:00.000-07:00

4 Bedrooms, 3 Full/1 Partial Bath(s), 3,664 Estimated Sq. Ft., $1,690,000

LOCATION LOCATION LOCATION! Within the Gated Community of Canyon Lake is this 4 Bedroom/3.5 Bath Custom Materpiece! Unsurpassed Attention to Detail In Over 3600 sf of Phenomenal Main Lake Waterfront Living. Two Master Suites. Spectacular Custom Ceilings. Fountain In Entry. Formal Livingroom with Wet Bar. Grand Marble Staircase and Entry. Gourment Kitchen. Huge Laundry Room. Three Decks Overlooking the Main Lake. Custom Landscaping. This Elegant Home is a Showpiece! You Must See to Appreciate!

View this home at 29690 Big Range Road, Canyon Lake, CA 92587

For more information, call Kelly Smith at (951) 304-3695

Welcome to Kelly Smith's LaCresta Market Update

2006-04-25T08:24:00.000-07:00

Watch this space for the new real estate information blog for LaCresta, Murrieta, and the Santa Rosa Plateau from Kelly Smith. Look to us for timely news, market updates, hot new listings and more!