Bob's Broker Buzz: Inland Empire Real Estate

Lewis Broker Referral Agents of the Quarter Spring 2014

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<span style="font-size: large;"><a href="http://www.lewisapartments.com/?utm_campaign=lewis_broker&utm_source=lewisbroker.blogspot.com&utm_medium=blog&utm_content=agent_of_quarter_spring_2014" style="text-align: left;" target="_blank">Lewis Apartment Communities</a><span style="text-align: left;"> is proud to announce</span> </span><br />
<span style="font-size: large;">Nancee Herrera & Natalie Brewer, </span></div>
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<span style="font-size: large;">Referral Agents of the Quarter, Spring 2014</span></div>
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<span style="font-size: large;">Subscribe to my blog for regular updates on new homes and apartments in the Inland Empire.</span></div>
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Lewis Apartment Communities is proud to announce Nancee Herrera & Natalie Brewer, Referral Agents of the Quarter, Spring 2014 ...

Come to Havana Nights May 22, 2014

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<b>Havana Nights is this Thursday 5/22 from 5pm-9pm. </b> </div>
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The cost is $15 and you receive 1 free drink and fabulous Cuban food.  The
money raised goes to Steven’s Hope. The real estate industry + liquor + food +
a great cause = FUN!!!.  Come to Flamingo Palms 11400 4<sup>th</sup>
Street, Rancho Cucamonga or <b>call me for tickets 909-946-7506</b>. </div>
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Havana Nights is this Thursday 5/22 from 5pm-9pm. The cost is $15 and you receive 1 free drink and fabulous Cuban food. The money r...

Havana Nights!

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<span style="font-family: Calibri;">This is a terrific party and it’s for a wonderful cause; the money goes to Steven’s Hope (helping families with seriously ill children).<span style="mso-spacerun: yes;">  Enjoy c</span>ocktails, beer and wine plus delicious Cuban
food and great company (Realtors and affiliates).<span style="mso-spacerun: yes;">  </span>Spend $15 and put your party face on.<span style="mso-spacerun: yes;"> </span></span><span style="font-family: Calibri;">Thursday May 22 5pm-9pm at Flamingo Palms in Rancho Cucamonga.</span><span style="font-family: Calibri;"> </span><br />
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<span style="font-family: Calibri;"><b>Call me for tickets 909-946-7506. <span style="mso-spacerun: yes;"> </span></b></span><br />
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<span style="font-family: Calibri;"><b><a href="http://pages.lewisop.com/LewisBrokerRegistration.html?utm_campaign=lewis_broker&utm_source=lewisbroker.blogspot.com&utm_medium=blog&utm_content=havana_nights" target="_blank">Register here</a> </b>to receive important updates regarding standing inventory, updated pricing, special events and our Lewis Broker quarterly newsletter.</span><br />
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This is a terrific party and it’s for a wonderful cause; the money goes to Steven’s Hope (helping families with seriously ill children). ...

State of the Inland Empire 2014

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<a href="http://www.lewisop.com/?utm_campaign=lewis_broker&utm_source=lewisbroker.blogspot.com&utm_medium=blog&utm_content=state_of_the_inland_empire_2014" target="_blank"><img alt="State of the Inland Empire 2014" border="0" height="212" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi6ie8BdZSXurF6DP_doLwolckKgBH3LLVw6lG9xG1IDOyguDfF8CRFCeUNP0L76vlkJP9TOeDlcSgS3-01qjHxETA6yvVAkQ_kBbOwl8Ip732v4qopMXtL5oc7Tp3EMTvcnWOyUKfZDmQ/s1600/WEREP-flyer_randall_save_header.jpg" title="State of the Inland Empire 2014" width="640" /></a></div>
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<b>Randall Lewis Presents: </b><b style="text-align: center;">State of the
Inland Empire 2014</b></h2>
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<a href="http://www.lewisop.com/Executives/tabid/65/Default.aspx?utm_campaign=lewis_broker&utm_source=lewisbroker.blogspot.com&utm_medium=blog&utm_content=state_of_the_inland_empire_2014" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Randall Lewis Presents State of the Inland Empire 2014" border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEijPouNrRTwJ6fIeNiZA-CEcF1tA-BW_7p7k_IXYwB0dS-M4vLbrzVHLFKqlqjgD69lIVigr1ECWcUXkf8zElYSHnn2ulnETUNX5fiRBcD_PaUyGbqaY2rJneNAdA63hP6t0mtbW87y3Nw/s1600/WEREP-flyer_randall_save_randall_headshot.jpg" title="Randall Lewis Presents State of the Inland Empire 2014" /></a>Randall Lewis will be the guest speaker at <b>WEREP</b> (West End
Real Estate Professionals) on <b>Friday, January 17, 2014</b>.   Randall is the Executive Vice President of <a href="http://www.lewisop.com/?utm_campaign=lewis_broker&utm_source=lewisbroker.blogspot.com&utm_medium=blog&utm_content=state_of_the_inland_empire_2014" target="_blank"><b>The Lewis Group of Companies</b></a>.  The Lewis Group of Companies has been a leader of real estate development in the
Inland Empire for over 50 years.  Randall does not do many public
appearances and his speaking engagements are limited.  His presentation at
WEREP will be his 6<sup>th</sup> annual appearance and it has evolved into an
event not to be missed.  Randall will deliver what he sees for development
in the areas of new
homes, apartments, retail, industrial and
commercial for 2014.  The Lewis Group of Companies is involved in all types of real estate development and if you are involved in any one of them
this is the presentation you want to hear.  There will be a short
question and answer period following Randall’s presentation so if you have a
burning question, bring it with you. </div>
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The meeting runs from <b>8:30am – 9:30am</b> <b>with most people
arriving between 8am-8:15am</b>.  No RSVP is necessary but arrive early for
good seating.   The event will be held at
the Goldy Lewis Community Center at Central Park, 11200 Baseline Road, Rancho
Cucamonga 91701 (Cross streets: Milliken & Baseline).</div>
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The cost is $3.00, which includes a continental breakfast and is open to the public. </div>
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<a href="http://www.lewisapartments.com/?utm_campaign=lewis_broker&utm_source=lewisbroker.blogspot.com&utm_medium=blog&utm_content=state_of_the_inland_empire_2014" target="_blank"><img alt="Randall Lewis Presents State of the Inland Empire 2014" border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi2JIMjMWq7OzMLIOU6Awx-pW1Kotn6dnbsosBAulG38COznuQmQs2VBnqxUyBgHVXtTDRm0LwLcjN7vc0v4hyphenhypheniD0YegcR_1d4DwfcdVslYygmhwmU6E07VmJaZu00aWOGv_O7vDeOaV3U/s1600/WEREP-flyer_randall_save_lac-property_banner.jpg" title="Randall Lewis Presents State of the Inland Empire 2014" width="640" /></a></div>

Randall Lewis Presents: State of the Inland Empire 2014 Randall Lewis will be the guest speaker at WEREP (West End Real Estate Prof...

Holy Grail Pricing On New Homes

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<br />Early New Home Phases Are The Holy Grail</h3>
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<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><span style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><a href="http://bit.ly/12dO6jI" target="_blank"><img alt="Holy Grail Pricing on New Homes" border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgqGTqmbvkTZ9rZ96-1SymdWFo0vaM16IfyXD7xpnZoPS1vKBBHRH4FN3radTqsSpDiVPAcznOylW573_hrG2WppJpNzLxG6Qh0iGHr1Snvg5wZED91kLwkbVq2AJP7jzXeiOMNIhCNeTg/s200/Holy-grail.jpg" title="Holy Grail Pricing on New Homes" width="108" /></a></span></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><a href="http://bit.ly/12dO6jI" target="_blank">Phase One Pricing</a></td></tr>
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Many Realtors know that when it comes to new home purchases, the early phases seem to be the Holy Grail. <a href="http://bit.ly/12dO6jI" target="_blank">First phase homes</a> will have the lowest prices in the neighborhood. That's where pricing starts, and it always goes up from there.<br />
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In a Bad Market...</h3>
Even in a bad market the price goes up, though not very much. Phase one pricing and the final phase pricing may not be that far apart. Here's what happens: the prices may go up just a little bit, but the incentives may increase significantly. How do home builders sell new homes for more when the market is moving down? They keep piling on incentives. So a home in phase one may sell for $300,000 and the same home in the final phase may sell for $350,000. That process may have taken a year. The house in phase 1 may have come with a washer and dryer, while the house in phase 20 may have come with a washer, dryer and refrigerator along with backyard landscaping and possible window treatment. Home builders need to keep raising prices or buyers would just drop out all the way. Why would anybody stay in escrow if the person after them paid less than they paid for a similar home.<br />
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In a Good Market...</h3>
In a rising market, the first phase is still going to offer the lowest priced new homes. What usually happens is that fewer incentives will be offered with each phase. In today's market you no incentives. However, we are not in a typical market. In a typical market, you might get a washer / dryer and refrigerator or closing costs as an incentive, but in today's market prices keep going up and there are no incentives. In today's market, between the time you place a down payment and the time your home is built and escrow closes, you may have a significant amount of equity in your home due to rising prices.<br />
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So what should a Realtor do? </h3>
Every new home buyer wants to buy in the first phase. Realtors need to drive their clients to new home communities and register them on the buyer's first visit. New home builders often do not advertise new communities when they are building the models. When they start a new community they drop a sign that says "New Community Coming Soon." They often have a temporary trailer act as an on-site sales office to add prospects to an interest list, and they provide general information about the project. This is the opportune time for you to get your clients on the interest list. To get on the interest list clients need to provide proof of funds, or get pre-qualified  by the builders lender. There is typically a period of three or four months during which a builder creates this interest list. During that time they don't do much promoting or advertising.<br />
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When the builder decides to go to sale, they host a grand opening. The builder will call everybody on the interest list that has been pre-qualified, invite them to the grand opening, announce pricing, and write contracts on new homes based on the names that are first on the list and qualified to purchase a home.<br />
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In Summary...</h3>
Stay on the lookout for new home communities, register your clients early, and both you and your client will be pleased with the outcome!<br />
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Click <a href="http://feedburner.google.com/fb/a/mailverify?uri=BobsBrokerBuzz&amp;loc=en_US" target="_blank">here</a> to receive Lewis Broker blog posts by email.<br />
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Early New Home Phases Are The Holy Grail Phase One Pricing Many Realtors know that when it comes to new home purchases, the early ...

Buying a Three Bedroom VS a Four Bedroom New Home

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<a href="http://www.vandaele.com/neighborhoods-all/renaissance-at-avellino/" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Renaissance at Avellino" border="0" height="265" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgKCLoHj-Db0M8xTmF8FoY5v5UMeCFmDofcUqc8PXpm9sHlRgz6wIddGsNOU4VdD0aYY-5_X3k1wdVKyebJ5XI0ui7GrHT-1bJiRGlyHix77FiLDrcaH6B0yMti_9jUmLPh5MiuM_EEztI/s400/Avellino_Renaissance_Plan_3.jpg" title="Renaissance at Avellino" width="400" /></a></div>
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<span style="font-family: inherit; line-height: 115%;"><b>In the long
run you're better off buying a four bedroom new home even if you never use that fourth
room at all.</b></span></div>
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<span style="font-family: inherit;"><a href="http://homebuying.about.com/od/sellingahouse/qt/0207WhyMove.htm"><span style="line-height: 115%;">About.com</span></a><span style="line-height: 115%;"> says most people sell their homes
within five to seven years. As you try to sell your home, more and more people will
be looking for four-bedroom homes than looking for three-bedroom homes. So even
if you don’t ever use that fourth bedroom for the five to seven years that you
live in the home, that fourth bedroom may come in very handy when you turn
around and try and sell the home.<o:p></o:p></span></span></div>
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<span style="font-family: inherit; line-height: 115%;">Think of the
question this way: Isn't it easier to try and sell a home that is a little bit
too big versus a house that is a little bit too small? Most people say “Well
it's a little bit bigger than we need, but we'll take it.”  But if it's a little bit too small, you've got
no hope. Interest rates are so low right now that why not pay a little bit more
for a four bedroom?<o:p></o:p></span></div>
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<span style="font-family: inherit; line-height: 115%;">Dynamics are
always changing. Maybe you’re single, or you have roommates or a partner, or you
get married or you don’t. Maybe you have children. Regardless, of your current
situation, families change.  Parents,
friends, siblings, or grown children may come to stay at your home or even live
there indefinitely.  Maybe at some point
in time, you even decide to rent out the fourth bedroom. Things are always
changing, and you can always adapt to too much space. But it’s very difficult
to adapt to too little space.<o:p></o:p></span></div>
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<b><span style="font-family: inherit; line-height: 115%;">There are a few advantages to a
three-bedroom home over a four-bedroom home:</span></b><br />
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<li><span style="line-height: 18px;"><span style="font-family: inherit;">a three-bedroom home costs less money</span></span></li>
<li><span style="line-height: 18px;"><span style="font-family: inherit;">a three bedroom home  is generally less effort and money to maintain</span></span></li>
<li><span style="line-height: 18px;"><span style="font-family: inherit;">lower square footage often means lower energy costs, which brings us right back to the idea that a three bedroom home costs you less to maintain than a four bedroom home</span></span></li>
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<b><span style="font-family: inherit; line-height: 115%;">How many three bedrooms homes are
being built versus four bedroom homes?</span></b></div>
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<span style="font-family: inherit;"><span style="line-height: 115%;">According to
USA Today's article entitled “</span><a href="http://www.usatoday.com/story/news/nation/2013/06/08/houses-bedrooms-family-size-homes/2390141/"><span style="line-height: 115%;">New Homes Still Getting Bigger</span></a><span style="line-height: 115%;">” by Greg Toppo, June 8, 2013:<o:p></o:p></span></span></div>
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<span style="font-family: inherit; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-hansi-theme-font: minor-latin;">Three-bedroom homes still dominate overall housing: 47% of buyers of new
and used homes picked three-bedroom models last year, while 26% bought four or
more bedrooms, according to the National Association of Realtors. Data for new
homes tell a different story. <o:p></o:p></span></div>
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<span style="font-family: inherit; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-hansi-theme-font: minor-latin;">The share of new homes with three bedrooms dropped from 53% in 2009 to
46% in 2012.New houses with four or more bedrooms snagged 41% of the market
last year, their highest share ever. Smaller houses — two bedrooms or fewer —
accounted for just one in five new homes in 2012.<o:p></o:p></span></div>
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<a href="http://www.vandaele.com/neighborhoods-all/renaissance-at-avellino/gallery/?pid=344" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><span style="font-family: inherit;"><img alt="Renessaince at Avellino Maste Bedroom" border="0" height="211" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJwo_mpyDBJXlOzhcJRJeQWKyEAZKdx7XNj6CjxvU_nFGjTf2T_czovU0axePm3SqDBSkPK-EZueHQRNcRUrKeWAy0WmI9w5ljiY3WkDrA3_eM7b6fZdH3WrxnEx0AuRUEGHgkUTDm4B8/s320/renaissance-plan-3-master_web.jpg" title="Renessaince at Avellino" width="320" /></span></a></div>
<span style="line-height: 115%;"><span style="font-family: inherit;">If you have
your choice, and the three-bedroom is all that's being offered and what you can
afford, then that’s what you should buy. If you're in a position to choose
between a three bedroom and a four bedroom home, and the price difference is
not huge, then I would almost always pick the four-bedroom.</span><span style="font-size: small;"><o:p></o:p></span></span></div>
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<span style="font-size: 12.0pt; line-height: 115%;">Subscribe
<a href="http://feedburner.google.com/fb/a/mailverify?uri=BobsBrokerBuzz&amp;loc=en_US" target="_blank">here</a> to our blog for useful real estate tips and updates on new homes in the
Inland Empire.</span></h4>
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In the long run you're better off buying a four bedroom new home even if you never use that fourth room at all. About.com says m...

Agent Builder Palooza

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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg_Obklg0v52RaPx7XiV4rvaf_iQ1RngkoPIVoie7473IlUSvykSQtjUoqrvfc4XBNsOgQXTIl1ZNin2NS5-mTdLa-1cm6g4HwdB1odMMvXdhS6FX6czcOG8NmJxB1s3OETB4YAwlQL90o/s1600/ab_palooza_2013flyer_header.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="119" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg_Obklg0v52RaPx7XiV4rvaf_iQ1RngkoPIVoie7473IlUSvykSQtjUoqrvfc4XBNsOgQXTIl1ZNin2NS5-mTdLa-1cm6g4HwdB1odMMvXdhS6FX6czcOG8NmJxB1s3OETB4YAwlQL90o/s320/ab_palooza_2013flyer_header.jpg" width="320" /></a></div>
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Join us for Agent / Builder Palooza 2013, Thursday, May 2nd. No registration needed, just show up.  But get here early because it’s crowded!</div>
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Seven years ago at the height of the real estate
market,  broker participation averaged
40-50%  at new home communities.  Today, broker participation  is between 80-90% due to lack of resale
inventory.  Seven years ago most new home
builders made buyers sign an “Occupancy Addendum”,  stating that they would live in the home for
at least one year.  Today there is no
such addendum,  Investors are welcome.</div>
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Wouldn’t it be helpful to know where new homes are being
built, what the floor plans look like, if they offer single stories, what the
commissions are,  how to register a
client and so much more?</div>
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<ul>
<li>Meet top Southern California home builders</li>
<li>Learn about higher commissions and builder / broker programs</li>
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The Agent / Builder Palooza 2013 is an event that gives agents and new home
builders an opportunity to network
together and help each other grow their businesses.</div>
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If you’re working with investors, many agents forget that
new homes offer tremendous opportunities for their clients.  Price increases with each new phase release are similar to the price increases we saw seven years ago.  If you’re working with first time or move up
buyers, wouldn’t it be helpful to know where a builder has communities or is
planning on opening a new community? The new home builders will be bringing their standing inventory list
with them. How important is that to know?</div>
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Join us for Agent / Builder Palooza 2013, Thursday, May 2nd. No registration needed, just show up. But get here early because it’s crow...

Welcome to my blog

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<span style="font-family: Calibri;">This is my first official blog, although I’ve been voicing my opinion on the subject of real estate longer than most readers have been able to read.<span style="mso-spacerun: yes;">  </span>I work for The Lewis Group of Companies as Director of Broker Relations.<span style="mso-spacerun: yes;">  </span><span style="mso-spacerun: yes;"> </span>I’m the liaison between the Lewis Company and the real estate community.<span style="mso-spacerun: yes;">  </span>I pass on important information regarding our new home developments and our apartment communities.<span style="mso-spacerun: yes;">  </span>Both sides work closely with realtors and both sides pay referrals and commissions.<span style="mso-spacerun: yes;">  </span>One of the favorite parts about my job is to visit real estate offices and share information with agents regarding the Lewis Company along with the housing and rental markets. <span style="mso-spacerun: yes;"> </span>I hope that some of the material is original and fresh, but I’m sure that most of it will be useful and worthwhile if you’re involved in the buying, selling or leasing of real estate in the Inland Empire. <span style="mso-spacerun: yes;"> </span></span></div>
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<span style="font-family: Calibri;">I look forward to my future of blogging with you.</span></div>
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This is my first official blog, although I’ve been voicing my opinion on the subject of real estate longer than most readers have been ab...

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