Bob's Broker Buzz

Top Secret: New Home Development

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<span style="font-family: Calibri, sans-serif; font-size: large;"><b>Top Secret: Park Place in Ontario</b></span></div>
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<span style="font-family: "Calibri","sans-serif";">Developers
do not want to tell you about future developments because they want you to
focus on what they currently have, rather than having you think about what will
happen in the future.  We prefer to keep you informed with what we are
doing today as well as what projects we are developing on the horizon. Let me
share with you a future development that is very exciting for our company, and
it should be very positive for you as you plan your business into the future.<o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgV7AtKtKpAct5yniS4-AuOfHFK-MS6JDBsOMn5NkPT564BOn9EYFAF7FMS3s056UsIHwzyI4ci4YKKJ-mRILla2io024TqakzMPs8TNyh88Axs3fZyIsyE56A0DrVeB4cvLxHj6xmF7wA/s1600/new_construction.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img alt="Park Place in Ontario" border="0" height="276" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgV7AtKtKpAct5yniS4-AuOfHFK-MS6JDBsOMn5NkPT564BOn9EYFAF7FMS3s056UsIHwzyI4ci4YKKJ-mRILla2io024TqakzMPs8TNyh88Axs3fZyIsyE56A0DrVeB4cvLxHj6xmF7wA/s320/new_construction.jpg" title="Park Place in Ontario" width="320" /></a></div>
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<span style="font-family: "Calibri","sans-serif";">Park
Place is now being developed in the city of Ontario.  We are initially
developing 435 lots to be built by a number of national
builders, with the grand opening set for November 2014. <o:p></o:p></span></div>
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<span style="font-family: "Calibri","sans-serif";">Park
Place at build out will consist of 1,437 homes on 345 acres, with 10 acres set
aside for a (K-5) school and 20 acres set aside for a (6-8) school and 11 acres
for public parks. <o:p></o:p></span></div>
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<span style="font-family: "Calibri","sans-serif";">The
approximate location is at the South East Corner of
Eucalyptus Ave. and Archibald Ave. We strongly
encourage each builder to cooperate with Realtors.<o:p></o:p></span></div>
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<span style="font-family: "Calibri","sans-serif";"><b>The
exciting news is that Park Place is going to be a great opportunity for first
time home buyers. <o:p></o:p></b></span></div>
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<span style="font-family: "Calibri","sans-serif";">We
share this information with you because for over fifty years the <a href="http://www.lewisop.com/?utm_source=Blog&utm_medium=Social&utm_content=New+Building+Projects&utm_campaign=Blogger+Lewis+Broker" target="_blank"><b>Lewis Group of Companies</b></a> has partnered with real estate agents and we will continue that
tradition well into the future. </span><br />
<span style="font-family: "Calibri","sans-serif";"><br /></span>
<span style="font-family: Verdana, sans-serif;"><b><span style="line-height: normal;">Click </span><a href="http://feedburner.google.com/fb/a/mailverify?uri=BobsBrokerBuzz&amp;loc=en_US" style="line-height: normal;" target="_blank">here</a><span style="line-height: normal;"> to receive Lewis Broker blog posts by email.</span> </b></span><span style="font-family: Calibri, sans-serif;"><o:p></o:p></span></div>

Top Secret: Park Place in Ontario Developers do not want to tell you about future developments because they want you to focus on what t...

Holy Grail Pricing On New Homes

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<br />Early New Home Phases Are The Holy Grail</h3>
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<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 />
<br />
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 ...

Renaissance At Avellino

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<span style="color: red; font-size: x-large;"><a href="http://www.vandaele.com/neighborhoods-all/renaissance-at-avellino/" target="_blank">Renaissance at Avellino</a></span></div>
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<span style="color: red; font-size: x-large;">is the area's fastest selling new home community!</span></div>
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<span style="color: red; font-size: large;"><b>$10,000 Realtor Commission</b></span></div>
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<span style="color: red; font-size: large;"><u>Homes are available for immediate purchase for your buyer</u>.</span></div>
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<span style="color: red; font-size: large;">Almost 80% of sales are with the help of Realtors; see what the Realtors are so excited about!</span></div>
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<a href="http://www.vandaele.com/neighborhoods-all/renaissance-at-avellino/" target="_blank"><img alt="Renaissance at Avellino" border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiX4zzUneJjZFjcI2OefCnjm7cKiV7YSzr4ToZYU_87S9EFOIdH-QdGi_8JLaBftxzpNLpWIYQ8eUF0OWZWHASQx-npFAgORqK1KKQetzXiNMCNalKNLTU0MlLq_Dhr_drHrHNgMGddYwA/s317/Renaissance+at+Avellino.jpg" title="Renaissance at Avellino" /></a></div>
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<span style="color: red; font-size: x-large;"><b>Broker Luncheon, Wednesday, July 10th</b></span></div>
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<span style="font-size: x-large;">11 AM to 1 PM</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjJoqsnK6-_nClQJkwKx6Q-20wWsdKSfVr2F6cgprjwVT676ua5YVtUr2OucJynALqLAHFmqvIsO3z5wLBX9zfqWq0TRv5hbEITC6chs3cRK1e0_q8YA6T4O0Kq8NcWqmFGwWzpCisTWQw/s326/Renaissance+at+Avellino+Map.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjJoqsnK6-_nClQJkwKx6Q-20wWsdKSfVr2F6cgprjwVT676ua5YVtUr2OucJynALqLAHFmqvIsO3z5wLBX9zfqWq0TRv5hbEITC6chs3cRK1e0_q8YA6T4O0Kq8NcWqmFGwWzpCisTWQw/s200/Renaissance+at+Avellino+Map.jpg" width="167" /></a><b>Residence 1 and 2</b></div>
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<b>3,184 to 3,810 square feet (approx.)</b></div>
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<b>4 bedrooms, 3.5-4.5 baths, 2-3 car garage</b></div>
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<b>Bonus Rooms</b></div>
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<b>September & November move-in's available! </b></div>
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<span style="color: red; font-size: x-large;"><b>From only $492,390</b></span></div>
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<span style="font-size: x-small;">Prices and terms are subject to change and prior sale without notice. </span></div>
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<span style="font-size: x-small;">Artists rendering of model offered is not the actual home featured. </span></div>
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<span style="font-size: x-small;">DRE#00974168  3/11/17  </span><span style="font-size: x-small;">Realtor must accompany their claim on the first visit.</span></div>

Renaissance at Avellino is the area's fastest selling new home community! $10,000 Realtor Commission Homes are available for ...

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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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...

Large NEW Single Story Homes

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<b style="background-color: white;"><span style="color: #0b5394;">Register Your Clients Today!</span></b><br />
This weekend Beazer Homes in Rancho Cucamonga at 6th & Archibald is having a grand opening of their newest neighborhood called "<a href="http://bit.ly/XLcN5F" target="_blank">The Vineyards at Harvest</a>". There will only be 15 of these homes total. Prices will start in the low $500k range.<br />
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Beazer pays a 3% commission and if you have any clients looking for a single story, this neighborhood is very unique because there is NO Mello Roos.<br />
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<li><span style="background-color: white; font-family: Arial, Helvetica, sans-serif; font-size: 12.727272033691406px; line-height: 17.99715805053711px;">unique real estate updates, </span></li>
<li><span style="background-color: white; font-family: Arial, Helvetica, sans-serif; font-size: 12.727272033691406px; line-height: 17.99715805053711px;">market news, </span></li>
<li><span style="background-color: white; font-family: Arial, Helvetica, sans-serif; font-size: 12.727272033691406px; line-height: 17.99715805053711px;">local sales opportunities</span></li>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 17.984375px;"><b><span style="color: #0b5394;">Click <a href="http://referral.lewisapartments.com/lewis-broker-apps/" target="_blank">here</a> to learn </span><span style="color: #0b5394;">how we can help you farm using Facebook.</span></b></span></span></div>
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Best, Bob

Register Your Clients Today! This weekend Beazer Homes in Rancho Cucamonga at 6th & Archibald is having a grand opening of their newe...

New Homes Offer Big Opportunities for Realtors

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<tr><td class="tr-caption" style="text-align: center;"><i><span style="font-size: x-small;">Renaissance at Avellino, Plan 1, Elevation C</span></i></td></tr>
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<b style="font-family: 'lucida grande', tahoma, verdana, arial, sans-serif; line-height: 17.99715805053711px;"><a href="http://www.lewisbroker.com/" target="_blank"><span style="color: #0b5394;">Big Opportunities for Realtors!</span></a></b><br />
<span style="font-size: 12.727272033691406px;"><span style="font-family: Arial, Helvetica, sans-serif;">New home sales are a wonderful opportunity for realtors to earn a huge payday without a whole lot of work, at least no contract writing. In a typical market realtor sales at new home tracts average between 40-50%. I like keeping you infor</span></span><span class="text_exposed_show" style="background-color: white; display: inline; font-size: 12.727272033691406px; line-height: 17.99715805053711px;"><span style="font-family: Arial, Helvetica, sans-serif;">med as to percentages of broker deals at new home communities the Lewis Company is involved with. The builders have a very clear understanding of the importance of realtors.<span style="color: #333333;"> </span></span></span><span class="text_exposed_show" style="background-color: white; display: inline; font-size: 12.727272033691406px; line-height: 17.99715805053711px;"><span style="font-family: Arial, Helvetica, sans-serif;"><br /></span></span>
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<span class="text_exposed_show" style="background-color: white; display: inline; font-size: 12.727272033691406px; line-height: 17.99715805053711px;"><span style="font-family: Arial, Helvetica, sans-serif;">Classics at Avellino by Van Daele 45 sold, 23 with realtors <b>(51%)</b><br /><br />Renaissance at Avellino by Van Daele 34 sales, 28 with realtors <b>(82%)</b><br /><br />Harvest by Beazer 30 sold, 24 with realtors <b>(80%)</b><br /><br />Van Daele Estates at Etiwanda by Van Daele 42 sold, 26 with realtors <b>(61%)</b></span></span><br />
<span class="text_exposed_show" style="background-color: white; display: inline; font-size: 12.727272033691406px; line-height: 17.99715805053711px;"><span style="font-family: Arial, Helvetica, sans-serif;"><br /></span></span>
<span class="text_exposed_show" style="background-color: white; display: inline; font-size: 12.727272033691406px; line-height: 17.99715805053711px;"><span style="font-family: Arial, Helvetica, sans-serif;"><b>Follow my blog by email for:</b></span></span><br />
<ul>
<li><span style="background-color: white; font-family: Arial, Helvetica, sans-serif; font-size: 12.727272033691406px; line-height: 17.99715805053711px;">unique real estate updates, </span></li>
<li><span style="background-color: white; font-family: Arial, Helvetica, sans-serif; font-size: 12.727272033691406px; line-height: 17.99715805053711px;">market news, </span></li>
<li><span style="background-color: white; font-family: Arial, Helvetica, sans-serif; font-size: 12.727272033691406px; line-height: 17.99715805053711px;">local sales opportunities</span></li>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 17.984375px;">Cheers, Bob Karatz</span></span></div>

Renaissance at Avellino, Plan 1, Elevation C Big Opportunities for Realtors! New home sales are a wonderful opportunity for realtors...

Mortgage Deductions

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I know that <span style="color: black; font-family: 'Arial','sans-serif'; font-size: 10pt;">NAR's position is that the mortgage interest deduction is vital to the stability of the American housing market and economy and is opposing any future plan that modifies or excludes the deductibility of mortgage interest. Some of you may have heard of people that realtors and builder’s refer to as  NIMBY’S.  Those are people that oppose growth of any kind and always show up at council meeting and planning commissions speaking out against any type of a housing or commercial development.  We refer to those people as NIMBY’S (not in my back yard).  I have always felt that to blanket all growth as bad, as in environment, traffic, air quality and whatever reason you can come up just doesn’t make sense. Today most responsible citizens and communities want intelligent growth because as we all know growth is good whether it’s Fontana, Los Angeles or even Aspen, CO. <o:p></o:p></span></div>
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<span style="color: black; font-family: 'Arial','sans-serif'; font-size: 10pt;">I think NAR’S position on mortgage deduction is wrong. It’s just as wrong as saying all growth is bad.  I think when it comes to fixing our financial problems that no one group or organization should say that they’re programs or deductions shouldn’t be touched. If the real estate community were to make a effort to help the national budget as every organization should, than we need to help also. I support  not allowing second home deductions and placing a cap on primary home mortgage deductions up to $500,000. <o:p></o:p></span></div>
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<span style="color: black; font-family: 'Arial','sans-serif'; font-size: 10pt;">Everybody has their sacred cow and reasons why theirs shouldn’t be touched. But if we’re ever going to move forward and put this countries house in order we all need to do some belt tightening. <o:p></o:p></span></div>
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<span style="color: black; font-family: 'Arial','sans-serif'; font-size: 10pt;">Best, Bob<o:p></o:p></span></div>
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I know that NAR's position is that the mortgage interest deduction is vital to the stability of the American housing market and e...

Broker Sales

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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgUCRSRzp4Ojwqg0dHqdJATjz4t4BQNNkKjZCaWWLSqDN-bTYb3QT3IZa19Z32ECIbev84yOk5YJ2YBctXxBqAW0FoY1okzAnCDwpvLOiH0IZ5OlgKqrNOw3QBHJ6LJHh_BRNb1RD-f51k/s1600/RENAISSANCE-PLAN-3-EXTERIOR-web4.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="212" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgUCRSRzp4Ojwqg0dHqdJATjz4t4BQNNkKjZCaWWLSqDN-bTYb3QT3IZa19Z32ECIbev84yOk5YJ2YBctXxBqAW0FoY1okzAnCDwpvLOiH0IZ5OlgKqrNOw3QBHJ6LJHh_BRNb1RD-f51k/s1600/RENAISSANCE-PLAN-3-EXTERIOR-web4.jpg" width="320" /></a><span style="font-family: Calibri;">I enjoy keeping track of how many sales are brokered sales within the new home communities associated with the Lewis Company.  Everyone has their different reasons in keeping track, I track brokered sales because I have the benefit of emphasizing the importance of realtors to my company.  Whether or not I played any part of bringing the realtor to the community is inconsequential, I still take credit for it...Ha! </span></div>
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<span style="font-family: Calibri;">Broker sales in an average market at a new home community typically average between 40-60%.  But in today’s market and with the lack of resale inventory you are seeing some unique percentages.  The following numbers are from the beginning of this week:</span></div>
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<span style="font-family: Calibri;"> Avellino in North Fontana has two neighborhoods.  Renaissance starts in the high $300K and Classics in low $300k. </span></div>
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<span style="font-family: Calibri;">Renaissance 11 sold/10 brokered</span></div>
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<span style="font-family: Calibri;">Classics         26 sold/12 brokered</span></div>
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<span style="font-family: Calibri;">Harvest is at 6th and Archibald in Rancho, prices start in the mid $300K.</span></div>
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<span style="font-family: Calibri;">22 sold/18 brokered</span></div>
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<span style="font-family: Calibri;">New home sales are arguably the easiest transaction in real estate. With the lack of standard inventory and the complexity of short sales do your client and yourself a favor; Start your tour with new homes because eventually your client will get there with or without you. </span></div>
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<span style="color: #1f497d;"><o:p><span style="color: black;">Best, Bob</span></o:p></span></div>
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I enjoy keeping track of how many sales are brokered sales within the new home communities associated with the Lewis Company. Everyone has...

Leslie Appleton-Young on real estate 2013

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<span style="font-family: 'Candara','sans-serif'; font-size: 12pt;">                                 Jackie Landry President of TIGAR with Leslie Appleton-Young </span></div>
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<span style="font-family: 'Candara','sans-serif'; font-size: 12pt;">Today I made a visit to TIGAR (The Inland Gateway Association of Realtors), an Association comprised mainly of Corona/Norco Realtor and Affiliate Members.  I went there to hear Leslie Appleton-Young speak.  Leslie is VP and Chief Economist for C.A.R. (California Association of Realtors). Leslie is an articulate speaker and is highly regarded in the Real Estate Industry for her Economic Forecasts regarding the Real Estate market in California. She along with Bruce Norris are my two favorite speakers. When Leslie speaks you’re not only engaged with her presentation skills but you are absorbing an incredible amount of facts and data and getting them directly from the horse’s mouth. Her profound understanding of the real estate market and the conveyance of it in her presentations is just one of the many reasons she is so highly sought after.   <o:p></o:p></span></div>
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<span style="font-family: 'Candara','sans-serif'; font-size: 12pt;">A hand-out was not part of her speaking engagement today but allow me to throw out a few takeaways. Leslie started her presentation by saying “The worst is over”,  isn’t that a great way to start! Ca. lost 1.5 million jobs and we’ve recovered about 500,000 so for growth to continue we will need to create more jobs.  Leslie said that “ Confidence” is the one thing that keeps the economy moving forward.  Prices will continue to rise in 2013 and Leslie felt very good about the future of real estate.  She asked everyone if we knew what a OPT was, Leslie said she heard the term for the first time recently.  Answer: Over Priced Turkey.  Leslie also recommended the book “ Being Wrong” by Kathryn Schultz.  It was a very exciting meeting with so much data being presented that I couldn’t possibly keep up and feel confident that I got it right so no  attempt to reproduce her numbers.  <o:p></o:p></span></div>
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<span style="font-family: 'Candara','sans-serif'; font-size: 12pt;">I left her presentation energized and confident that my new home purchase a year ago was a good investment. <o:p></o:p></span></div>
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<span style="font-family: 'Candara','sans-serif'; font-size: 12pt;">If you ever get a chance to hear either Bruce Norris or Leslie Appleton-Young speak you’re in for a special treat.</span></div>
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<span style="font-family: 'Candara','sans-serif'; font-size: 12pt;">Best, Bob<o:p></o:p></span></div>
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Jackie Landry President of TIGAR with Leslie Appleton-Young Today I made a visit to TIGAR (The I...

Broker Participation

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<span style="color: black;"><span style="font-family: Calibri;">In an average year broker participation at most new home communities ranges between 40-50% and 60% would be on the high side.  To give you an example of broker participation in today’s market, Renaissance at Avellino by Van Daele Homes in N Fontana just grand opened about 3 weeks ago.  This is a SFR move-up community with prices starting in the $400’s.  They have had 8 sales so far and 7 were with brokers.  This percentage is very typical of what is happening in new home sales today.  All cash buyers and investors are absorbing what little resale inventory there is and for most home buyers that are actually planning on permanently living in the home a resale typically ties up too much money with any kind of remodel.  New homes make more sense and offer more security when it comes to quality and warranty than any resale.  With more new home communities opening up, don’t waste a lot of valuable time and start showing your buyers new homes first and resale’s second. <o:p></o:p></span></span></div>
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In an average year broker participation at most new home communities ranges between 40-50% and 60% would be on the high side. To give you ...

Quality of Life

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<span style="font-family: Calibri;">There is an interesting article in the New York Times business section today with the CEO of the Corcoran Group, which is owned and operated by NRT, one of the nation’s largest residential brokerage companies. <span style="mso-spacerun: yes;"> </span>She talks about the challenges of selling real estate in New York City.<span style="mso-spacerun: yes;">  </span>She said that finding inventory in larger units of 4 bedrooms or more was very difficult. <span style="mso-spacerun: yes;"> </span>The influx of foreign buyers from the Middle East and China buying expensive condos and driving up values.<span style="mso-spacerun: yes;">  </span>The average sale for the Corcoran Group in the month of October was $1.6 million.<span style="mso-spacerun: yes;">  </span>These problems are very similar to what we experience in the Inland Empire. <span style="mso-spacerun: yes;"> </span>We have a scarcity of inventory,<span style="mso-spacerun: yes;"> </span>investors are bidding up our properties and foreign buyers are having an impact on us as well.<span style="mso-spacerun: yes;">  </span>The biggest difference is in our commission checks. <span style="mso-spacerun: yes;"> </span>I would still rather do business here: than in New York City. <span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
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There is an interesting article in the New York Times business section today with the CEO of the Corcoran Group, which is owned and operate...

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