I apologize for this email, but I just started using Microsoft 2010 and had to send an email to everyone in my address book in order to set-up the auto populate system.  Kind of a step backwards for Microsoft, isn’t it?

Linda

Linda Novick, Broker, e-Pro, SRES, SFR

Broker Associate, Windermere Real Estate

VP Membership Women’s Council of Realtors

Serving Satisfied Clients since 1972 with

Service beyond Sales

Member CDAR, CAR, NAR, WCR,

DRE Broker License #00415294

Current Listings and Sales Activity

We had 35 sales that closed escrow in March versus 23 in February.  Sales prices varied from $126,000 to $700,000 (the $700,000 was my listing on Royal Sage).   There are currently 35 homes in escrow versus 46 a month ago.  Homes currently in escrow were listed from $129,000 to $575,000 (the $575,000 home is also my listing).  Only 162 homes are currently on the market and priced from $149,000 to $849,500.    

Survey: Buyers, Sellers Optimistic About Housing

Nearly 70 percent of buyers and sellers say they believe the housing market and property values will recover in the next year or two, according to a new survey by Prudential Real Estate and Relocation Services Inc.

What’s more, 86 percent of the more than 1,000 buyers and sellers surveyed believe real estate is still a good investment despite the souring market conditions in many areas the past few years.

Those surveyed said they also are ready to buy: Six in 10 respondents say they are more interested in buying real estate and 59 percent say they are optimistic about buying now with recent momentum from the economic recovery. They also believe they can get a better deal now because of lower prices.

But many survey respondents said that buying a home relies on them being able to sell their existing home. About 67 percent respondent said they are concerned about getting a fair price for their existing home.

“This survey clearly demonstrates that Americans continue to be optimistic about the real estate market and believe that home prices will rise,” says James Mallozzi, chief executive officer of Prudential Real Estate and Relocation Services. “A key take away from the survey is although consumers recognize that it is a good time to buy, they are concerned about their ability to sell their homes. This is one of the reasons the market is still struggling to recover.”

Safe Ways to Bank with Your Smart Phone

Follow these steps to lower the risk of having your personal information stolen.

Using your smart phone to check your bank account balance or deposit a check is convenient. But is it safe?

Hackers are getting better at finding ways to tap into smart phones and capture people’s account numbers and other personal information. However, there are ways to lower your risk of becoming a victim, says Michael Gregg, a cyber security expert and founder of Superior Solutions. Here are his tips:

Don’t use public Wi-Fi to access accounts online. Use your phone provider’s network, instead, because it’s more difficult for hackers to tap into it. Public Wi-Fi connections, on the other hand, are easily compromised not just by savvy cybercriminals but by anyone who downloads a free program, which allows users to see what others are doing online and log onto their accounts as them.

Watch out for smishing (fake text messages). If you get a text message supposedly from your financial institution warning you that there may be a problem with your account, don’t click on any links or call a number in the message. The link could take you to a phony site with malicious software that will give criminals access to your phone. And the number could connect you with scammers who are trying to collect your account information. Go directly to your bank’s Web site to check your account or to get a customer service number. And if you get a text message asking you to download a security update for your phone, don’t be fooled. Smart phone makers don’t send out security updates by text message, Gregg says.

Be careful where you browse. Go to sites you know to conduct financial transactions. And before downloading any banking applications, check your financial institution’s site to make sure it offers one. Apple puts all apps for the iPhone through serious scrutiny, but other smart phone makers do not. A year ago, more than 50 fraudulent mobile banking apps appeared in the Android marketplace and were removed once they were discovered -- after many had bought and downloaded the apps.

Don’t jailbreak your iPhone. You’ll lose your security mechanisms, Gregg says, if you tamper with your iPhone so it can run on another service provider’s network or download additional apps. The Kiplinger Washington Editors. www.kiplinger.com.

What’s ‘In’ and ‘Out’ in the Kitchen: 10 Trends to Watch

Kitchens are going dark, LED lighting is gaining steam, and trash is getting more attention–all are trends in kitchen designs this year, according to the National Kitchen & Bath Association, which surveyed 100 designers at the end of 2010 to reveal the hottest kitchen trends.

The following is a list of what’s cooking in kitchen trends for 2011, based on NKBA survey results of which kitchen designs are increasing in demand and which are losing favor.

1. Cabinetry

Gaining steam: Maple cabinetry

Losing steam: Cherry cabinetry (Cherry dominated kitchens in early 2010 but was overtaken by maple cabinetry this year)

Kitchen cabinets in Sonoma Maple, Midnight with Bristol Maple, Pebble; Photo credit: Wellborn Cabinet Inc.

2. Kitchen finishes

Gaining steam: Dark natural finishes; light natural and colored painted finishes also remained fairly common, inching up slightly in use.

Losing steam: Medium natural, glazed, and white painted finishes are on the decline and the use of distressed finishes has dropped significantly in the last year.

3. Color

Gaining steam: Grays, beiges, and bones

Losing steam: Brown tones, whites, and off-whites

O’Neil Cabinets shaker style; Photo credit: Courtesy of O’Neil Cabinets

4. Design styles

Gaining steam: Shaker style, which is characterized by its simplicity, un-ornamented yet functional, finely crafted style. (Shaker overtook contemporary style this year as the No. 2 most popular kitchen design style). Traditional style remains the most popular kitchen design, although it has dropped slightly in popularity compared to last year.

Losing steam: Contemporary style

5. Cabinetry upgrades

Gaining steam: Unchilled wine storage (yet under counter wine refrigerators are losing favor)

Losing steam: Tall pantries, Lazy Susans, appliance garages, and pull-out racks are declining slightly in popularity.

6. Countertops

Gaining steam: Solid surfaces, a low-maintenance countertop surface, has grown in popularity, but granite and quartz continue to hold dominance. Other countertops surfaces increasing in niche use include butcher block and marble.

Losing steam: Laminate

7. Refrigerators

Gaining steam: French door and side-by-side refrigerators

Losing steam: Freezer-top refrigerators and freezer-bottom models

8. Cooktops

Gaining steam: Induction cooktops are closing the gap on gas and electric models; double wall ovens are increasing in use.

Losing steam: Gas cooktops are still popular but their use is falling slightly in favor of induction and electric cooktops. Single wall ovens and warming drawers are also on the decline.

9. Lighting

Gaining steam: LED energy-efficient lighting options

Losing steam: Incandescent lighting and CFLs (compact fluorescent lights)

10. Trash

Gaining steam: More designers are taking into account trash considerations in kitchen designs, with trash or recycling pull-outs, garbage disposals, and trash compactors on the rise.

Losing steam: Not considering where the trash goes in the kitchen

Weighing an Offer: 3 Seller Tips

Sellers can feel pressure when trying to decide whether to accept a buyer offer on their home. While real estate professionals can advise clients on whether to accept an offer, the final decision is up to the seller--and it can be an agonizing one.

In the current buyer’s market, buyers aren’t shy about making lowball offers to sellers either. So when should you accept or decline an offer?

Realty Times recently offered the following questions for sellers to consider.

1. Is the buyer pre-qualified/approved? You may not want to risk a deal falling through because the buyer wasn’t pre-qualified for a loan.

2. Do you need to move quickly? If you need to move quickly--due to a job relocation or to avoid foreclosure--you may need to accept an offer that is less than what you want.

3. Can you accept a loss? Be sure to take closing costs into consideration too as you weigh whether you can even afford to agree to the buyer's offer.

Realty Times also suggests sellers take into account how long their home has been on the market and the number of showings. Such considerations also can help sellers determine whether getting a better offer soon is realistic and would be worth the wait. Daily Real Estate News   March  2011  

I drive a lot in my line of work.  Here are some great money saving ideas relating to new cars that I recently received.  I thought it was good information to share with you.

Want Better Gas Mileage? Top 5 Fuel-Efficient Cars

With gas prices at or above the $4 mark, more real estate pros--who get plenty of use of their cars for business--are likely going to eye the gas mileage on cars more closely before making their next car purchase.

The USA Today recently evaluated cars to come up with a list of the most fuel-efficient cars on the market today, based on EPA combined mileage ratings. Industry researcher TrueCar.com also provided the estimates below of the cost to drive these cars 15,000 miles a year at $3.52 a gallon (the national average for gas).

Here are the top five and their costs to buy and drive.

1. 2011 Toyota Prius
Base model sticker price: $23,810
Combined EPA rating: 49.6 mpg
Cost per 15,000-mile year at $3.52/gal.: $1,064

2. 2011 Lexus CT 200h
Base model sticker price: $29,995
Combined EPA rating: 41.6 mpg
Cost per 15,000-mile year at $3.52/gal.: $1,269

3. 2011 Honda Insight
Base model sticker price: $18,950
Combined EPA rating: 41.3 mpg
Cost per 15,000-mile year at $3.52/gal.: $1,279

4. 2011 Honda Civic Hybrid
Base model sticker price: $24,700
Combined EPA rating: 41.3 mpg
Cost per 15,000-mile year at $3.52/gal.: $1,2792

5. 2011 Lincoln MKZ Hybrid
Base model sticker price: $35,455
Combined EPA rating: 38.6 mpg
Cost per 15,000-mile year at $3.52/gal.: $1,368

6 Most Promising Real Estate Markets for 2011

Inman News recently released a list of 10 real estate markets to watch in 2011 based on housing, economic, and demographic data. Inman News took into account such factors as the area's median sales price, unemployment rate, sales volume, and foreclosure activity.

Here are the top six cities that made the list:

1. Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.Va.: The metro area was one of the few markets to see year-over-year gains in its home prices.

▪ Median sales price (Q4 2010): $331,100
▪ Median sales price % change (Q4 2009-Q4 2010: 8.1 percent
▪ Foreclosure activity rate (2010): 1 in 49 units

2. Buffalo-Niagara Falls, N.Y.: This metro area for the last year has boasted a low delinquency rate and one of the lowest foreclosure rates in the country. It also has one of the fastest-rising median list prices in the nation.

▪ Median sales price (Q4 2010): $126,500
▪ Median sales price % change (Q4 ’09-Q4 ’10): 14.3 percent
▪ Foreclosure activity rate (2010): 1 in 322 units

3. Des Moines, Iowa: The city has a low unemployment rate and one of the highest projected job growth rates for the third quarter of 2011.

▪ Median sales price (Q4 2010): $151,300
▪ Median sales price % change (Q4 ’09-Q4 ’10): 5.5 percent
▪ Foreclosure activity rate (2010): 1 in 79 units

4. Portland-South Portland-Biddeford, Maine: The Maine community has plenty of reasons for making the list, including a low unemployment with projected job growth, a rising median sales price, and high affordability.

▪ Median sales price (Q4 2010): $223,000
▪ Median sales price % change (Q4 ’09-Q4 ’10): 8.3 percent
▪ Foreclosure activity rate (2010): 1 in 150 units

5. Kennewick-Richland-Pasco, Wash.: Rising household income and a rise in the median price helped this Washington metro make Inman’s list.

▪ Median sales price (Q4 2010): $183,000
▪ Median sales price % change (Q4 ’09-Q4 ’10): 8.9 percent
▪ Foreclosure activity rate (2010): 1 in 161 units

6. Fargo, N.D.-Minn.: This North Dakota community is becoming more desirable with its low unemployment (about 4 percent), which is lower than nearly any other state in the nation (the national average is about 9 percent).

▪ Median sales price (Q4 2010): $148,500
▪ Median sales price % change (Q4 ’09-Q4 ’10): 6.2 percent
▪ Foreclosure activity rate (2010): 1 in 7,423 units

Special thanks to those of you who have referred me to your friends.  It is a huge compliment and I take my responsibility to provide them the best service possible very seriously.  I love the special friendships that have evolved from my business, and I love providing generous thank-you gifts for the referrals.

My previous newsletters are available to you via my website at www.LindaNovick.com.   You can also do property searches and review testimonials from my previous clients.

I hope you appreciate this information.  Please call me if you have any additional questions.  Feel free to let me know if you prefer not to receive my ‘info’ emails and I will remove you from my distribution list.  On the other hand, feel free to ask me to add your husband, wife or a friend that you think would enjoy and benefit from receiving my newsletter. 

Warmest Regards Always,

Linda Novick, Broker Associate, e-pro, SFR

Senior’s Real Estate Specialist (SRES)

Windermere Real Estate Coachella Valley

Direct:  760-397-3652   Office:  760-773-3958

Email:  LindaNovick@Windermere.com

Website:  www.LindaNovick.com

39 years selling So Cal Real Estate and being Recognized, Respected and Referred

This e-newsletter is not intended to be a solicitation of your property if you are currently listed with another broker.

Linda Novick, Broker, e-Pro, SRES, SFR

Broker Associate, Windermere Real Estate

VP Membership Women’s Council of Realtors

Serving Satisfied Clients since 1972 with

Service beyond Sales

Member CDAR, CAR, NAR, WCR,

DRE Broker License #00415294

Absolutely beautiful!  That is what I say every morning when I open my eyes and see this gorgeous paradise that we are so lucky to live in.  Obviously others are seeing it too as there has been a whirl-wind buying frenzy here since the first of the year.  We had 23 sales that closed escrow in February compared to only 9 in the month of January and 12 in February of 2010.  Even better news is that there are 46 homes in escrow versus 27 a month ago.  Only 157 homes are currently on the market (priced from $129,000 for a one bedroom villa to $769,000) versus 180 at this time last month.  So don’t get discouraged when you read about doom and gloom in the newspapers as SCPD is clearly on a planet of its own.

Wealthy Buyers Re-emerge in Real Estate

The rich have returned to the real estate market and are taking advantage of big bargains in luxury homes. Sales of million-dollar homes and condos increased last year in all 20 major metro areas — with some cities seeing an 18.6 percent increase in high-end home sales, according to DataQuick Information Systems. The increase follows four consecutive years of declines in million-dollar homes.

The market that fared the best in high-dollar real estate: San Jose, Calif., which boasted a 27.4 percent increase in sales last year in million-dollar homes. Honolulu also saw a big spike in million-dollar sales — a 26 percent increase — as well as New York, where million-dollar home sales rose nearly 25 percent.

In Washington, D.C., million-dollar home sales grew by 20 percent, as government workers continued to help the high-end real estate market there. Washington, D.C., has recently been ranked as one of the highest paid cities, as well as best educated place in the country.

Other cities with big gains in million-dollar home sales include San Diego (14 percent) and Nashville (13 percent).

"It hasn't been a good six months for all people, but it was a good six months for rich people," Glenn Kelman, CEO of Seattle-based real estate brokerage Redfin, told CNNMoney. "When Wall Street goes up, rich people buy homes."

Mortgage Rates Drop Again This Week

For the third straight week, long-term mortgage rates inched down, according to Freddie Mac’s weekly mortgage survey.

The 30-year fixed rate mortgage averaged 4.87 percent for the week, down from last week’s 4.95 percent. The rate was 4.97 percent at this time last year.

The 15-year mortgage rate also dipped for the week, averaging 4.15 percent, down from last week’s 4.22 percent.

The 5-year adjustable-rate mortgage averaged 3.72 percent, which is a drop from last week’s 3.8 percent average.

"Mortgage rates saw an overall improvement this week,” says Frank Nothaft, Freddie Mac’s chief economist. “Interest rates for 30-year fixed mortgages were almost 0.2 percentage points below this year's high set just three weeks ago.” This means that home buyers can now expect to pay $263 less per year on a $200,000 loan, Nothaft adds.

Source: Freddie Mac (March 3, 2011)

5 Markets with the Largest Price Drops

The number of homes where sellers have cut their asking price is up 17.6 percent, according to a ZipRealty survey that analyzed MLS-listed properties in 26 markets.

“In more than half of the surveyed markets, sellers are averaging at least two reductions in price,” says John Oldham, director of marketing for ZipRealty. “Inventory has grown throughout much of the year. As sellers face the pressure of more buying options, they seem to be discounting to attract buyers resulting in list prices being cut for over 46 percent of the homes.”

The median reduction amount has averaged 1.7 percent to $19,088.

Florida leads the nation in the largest percentage of discounts to the original list price, with Orlando (12.5 percent discount), Jacksonville (12.1 percent), and Miami/Ft. Lauderdale/Palm Beach (11.9) leading the pack.

The top 5 markets with the largest overall median price reduction in absolute dollars include:

1. San Francisco: $32,500 median price reduction
2. Orange County, Calif.: $31,000
3. San Diego: $29,100
4. Miami/Ft. Lauderdale/Palm Beach: $25,000
5. Seattle: $25,000

Source:  ZipRealty (Feb. 10, 2011)

4 Ways to Get a Home in Show-Selling Shape

Make your home stand out in a crowded real estate marketplace. Housing experts offer some tips for sprucing up a home to get it ready to sell.

1. Create curb appeal. Here are some easy, big impact ideas: Paint the front door, pick a new color for the exterior trim, fix any old shutters, and make sure the path from the driveway is clear to the front door. Also, remove any overgrown plants and replace them with low-growing shrubs and perennials.

2. Fix the flaws. Fix everything, they say, including broken joints, cracks in walls or the foundation, and recaulk the bathroom tub, if needed. "If the little things are not done, people will think, what else is not done?" says Steve White, the owner of Handyman Connection in Elmsford, N.Y.

3. Paint. "Paint is the greatest single thing you can do and it's the most cost effective," says David Sanders of Sanders Properties in Nyack, N.Y. "Use light, cheery colors. People don't want to walk into a dark, dreary room."

4. Add some new bling. Interior designer Nancy August from Piermont, N.Y. says just swapping out the home’s hardware for new can quickly freshen up a home. For example, new hinges, doorknobs, drawer pulls, and light switches and fixtures can quickly transform a dated room, particularly in a dated bathroom.

Source: “How to Sell Your House in Any Market,” Gannett News Service (Feb. 28, 2011)

Celebrities Face Foreclosure Too

The rich and famous are finding they aren’t immune to foreclosure. In the last six months, actor Nicolas Cage, baseball legend Julius “Dr.J” Erving, and hip-hop artist Chamillionaire have gone through foreclosure proceedings, Reuters News reports.

Morgan Brennan of Forbes.com says strategic defaults are becoming more common among celebrities--that’s when a party walks away from a home because of its big loss in value, even though they have enough money to pay the mortgage.

That’s what Erving did. He said his Utah mansion was drastically underwater and so he stopped making his mortgage payments last fall on the home.

"All price points have been hit by the foreclosure crisis,” Brennan told Reuters News. “The rich and famous have not been excluded from that. There are a handful of people in the luxury real estate category that are experiencing foreclosures as well."

A very special thanks to those of you who have referred me to your friends.  It is a huge compliment and I take my responsibility to provide them the best service possible very seriously.  I love the special friendships that have evolved from my business.

My previous newsletters are available to you via my website at www.LindaNovick.com.   You can also do property searches and review testimonials from my previous clients.

I hope you appreciate this information.  Please call me if you have any additional questions.  Feel free to let me know if you prefer not to receive my ‘info’ emails and I will remove you from my distribution list.  On the other hand, feel free to ask me to add your husband, wife or a friend that you think would enjoy and benefit from receiving my newsletter. 

Warmest Regards Always,

Linda Novick, Broker Associate, e-pro, SFR

Senior’s Real Estate Specialist (SRES)

Windermere Real Estate Coachella Valley

Direct:  760-397-3652   Office:  760-773-3958

Email:  LindaNovick@Windermere.com

Website:  www.LindaNovick.com

39 years selling So Cal Real Estate and being Recognized, Respected and Referred

This e-newsletter is not intended to be a solicitation of your property if you are currently listed with another broker.

Linda Novick, Broker, e-Pro, SRES, SFR

Broker Associate, Windermere Real Estate

VP Membership Women’s Council of Realtors

Serving Satisfied Clients since 1972 with

Service beyond Sales

Member CDAR, CAR, NAR, WCR,

DRE Broker License #00415294

Burr!  I had to dig out my parka, gloves and earmuffs last week.  We had just enough freeze to kill some of our flower blossoms, and yet it was nothing like 4 or 5 years ago when we had such a freeze that it took practically a year for our plants to come back.  Still, we have to be grateful that we are not living back East where many people have waist high snow in their yards.

Back here in our beautiful SCPD, in the month of January, we had only 9 closed sales with 4 of those sales closing at the very end of the month.  The good news is that there are 27 homes in escrow.  180 homes are currently on the market (priced from $140,000 to $739,000).  January sales volume in the Valley is up by 26% compared to California at only 6%.  Additionally, Valley prices are up almost 9% versus 1% in California. 

Vacation Home Sales on the Rise

Sales in many vacation communities across the U.S. soared last year to levels not seen since boom times, driven by deep discounts, cash purchases and buyers' rising stock portfolios.

On Mercer Island, Wash., waterfront sales nearly tripled in 2010, compared with a year earlier, reaching par with 2006 volume there. Sales on Hilton Head Island, S.C., rose 14% for the year. Palm Beach, Fla., experienced a 40% annual increase and a 54% increase in homes under contract, indicating an especially strong fourth quarter. Palm Beach sales volume now is comparable to its 2007 peak. These figures were gleaned by brokers in each locale.

"The proverbial train has left the station," said Ned Monell, an agent with Sotheby's International Realty in Palm Beach. "We haven't felt energy like this in a long time. Buyers sense that they've been on the sidelines long enough."

The question now is whether the momentum will last. The strength of second-home sales paints a stark contrast to the overall housing market, which is expected to worsen in 2011.

Existing-home sales in November rose 5.6% on an annualized basis, according to the National Association of Realtors, a trade and lobbying group. Last month, the Case-Shiller housing index of 20 cities showed prices across the U.S. fell in October, and most analysts predict another 5% to 10% slide in the coming year.

Data for the nationwide vacation-home market aren't tracked regularly. The National Association of Realtors conducts an annual survey of home buyers, but results for 2010 won't be out till March.

Yet the market for vacation homes, based on local sales data, appears to be booming. The comeback, NAR economist Lawrence Yun said, has been helped by gains in the stock market and an improving economy, which have made wealthier Americans more upbeat about the future. "It also implies that prices in some markets have come down so much that people are fighting for those properties," said Mr. Yun, noting that demand is strongest in areas close to stable labor markets.

According to the NAR, one in 10 real-estate transactions in 2009 were for the purchase of a vacation home. And though a small fraction of the overall market, it is significant because vacation homes are often big-ticket properties and attract discretionary buyers. Just four houses sold last year on Madeline Island, Wis., for example, but the island's average dwelling sells at two to three times the price of the county average, said Eric Kodner, a realty broker on the island.

Sales of second homes are showing an uptick even in more-affordable communities. In some locations, prices are even inching upward. Cape Cod sales climbed nearly 9% in 2010 from 2009, while prices rose 7%. Monroe County, Pa., in the heart of the Pocono Mountains, saw a 3% decline in transactions, but its Lake Naomi resort community was up nearly 15%. A one-acre plot off Lake Naomi recently fetched $1.1 million, a record deal for the area.

Still, in most markets where demand has improved, prices haven't. For Realtor Andy Twisdale in Hilton Head, S.C., it is too soon to rejoice; prices are down almost a third over the past five years. "People are buying at the very low end of the product," he said. "The financing is very difficult. Banks are requiring 25% down and crystal clean credit."

Buyers who qualify or can pay cash say this is the time to take the plunge. 

Keep in mind that we are a huge vacation and seasonal destination for people from around the world, especially our neighbors to the north.

4 Predictions for the Mortgage Industry in 2011 (REALTOR® Magazine)

One of the biggest obstacles for a recovery in housing has been — and will continue to be — mortgage lending. Although rates fell to historic levels in 2010 and will likely remain relatively low through a good portion of this year, credit still isn’t easy to come by, even for many borrowers who would be considered safe in a normal market.

With that in mind, what can we expect in mortgage finance during 2011? Here are a few predictions, with help from Tom Wind, managing director at J.I. Kislak Mortgage, former CEO of JPMorgan Chase’s residential mortgage lending businesses, and former president and COO of CitiMortgage:

1. Several proposals will be made to reform and reconstitute Fannie Mae and Freddie Mac, but no new plan will be implemented this year. The U.S. Treasury Department is expected to offer recommendations to Congress this month on how to restructure the mortgage market, and incoming GOP representatives have made Fannie and Freddie reform a top priority for its agenda this year. However, Wind expressed some reservations about a speedy resolution to the issue. When some sort of reconstitution — or even replacement — of Fannie and Freddie does come, though, it will probably include an overt guarantee of government backing, he added.

“Government support is essential to a well-functioning market,” Wind explained. “There may be times when the market can function without it, but long-term, ensuring the liquidity of mortgages is essential.”

2. FHA will continue to be the prime mover in the secondary mortgage market. Because Fannie and Freddie are still in limbo, the FHA will remain the most important institution in the mortgage space during 2011. And while Wind sees its role diminishing somewhat as the secondary mortgage market settles into some as-yet-undefined new normal, he says it will probably remain the primary driver of home loans for first-time buyers for the foreseeable future.

3. Refinances will go down, purchases will go up. Overall, Wind expects U.S. mortgage lending activity to be way down in 2011, due almost entirely to a severe drop in refinances. (Wind predicts that the refi market will fall more than two-thirds, from $1 trillion to $350 billion.) This decline — along with changes to compensation caused by new rules from the Federal Reserve and the Dodd-Frank Wall Street Reform and Consumer Protection Act, which could mean 30-40 percent less in earnings on each loan — will drive many loan officers out of the business this year.

The silver lining here is that with favorable affordability conditions, improving economic fundamentals, and moderate interest rates, mortgages for home purchases will likely go up. “Any way you cut it, it’s going to be a smaller market,” Wind says. “But purchases will probably grow.”

4. Jumbo loans will remain hard to come by. Although Wind sees private investors and financial institutions easing back into jumbo mortgage loans, there’s still substantial concern about high-end homes holding their value over the next couple of years. He predicts this will be the last strata of mortgage loans to recover: “For a healthy jumbo market, we need a healthy housing market [first].”

Foreclosures Decline in California in 2010

Fewer Californians grappled with foreclosure last year, bucking a national trend and giving homeowners fresh hope that the state's housing market could be on the mend.

The 14% drop in foreclosure activity contrasted with a 2% rise nationally, according to data tracking firm RealtyTrac. Analysts noted that California's housing market was among the first to falter and may now be among the first to recover. Home prices here hit bottom in April 2009, and have gradually risen since then.

"There are a lot of risks out there, but I think the trend is improvement — not dramatic, but substantial," said Kenneth Rosen, a professor at UC Berkeley's Haas School of Business.

But Rosen and other observers caution that the state's high unemployment rate of 12.4% and weak demand for housing are still a concern.

Another potential trouble spot: A large number of adjustable-rate mortgages are scheduled to reset to higher rates in coming months, said Rick Sharga, senior vice president with RealtyTrac. That could lead to another uptick in foreclosures if the borrowers cannot make the higher payments, or decide that they are throwing good money after bad.

"You have the three-headed monster of high unemployment, a weak economy and problem loans," said Sharga, who thinks that California foreclosures in 2011 could surpass last year, and possibly the peak year of 2009.

More than half a million California homes were involved in some stage of foreclosure last year, including notices of default as well as bank repossessions, according to numbers to be released by RealtyTrac on Thursday. Among those filings, 173,175 represented homes retaken by lenders, a 13% drop from a year ago.

Nationwide, a record 2.9 million homes were in foreclosure, up 2% from 2009.

Sharga said the national numbers would have been much higher were it not for several major banks' slowing foreclosures dramatically late last year amid scrutiny from lawmakers, regulators and law enforcement officials over their foreclosure practices, including allegations that paperwork was not properly processed.

"There were delays over the last two months, or 2 1/2 months, and that just skewed the numbers wildly," he said.

Sharga estimated that an additional quarter-million filings in the U.S. probably would have been logged if it were not for the delays brought about by the foreclosure fracas.

Several major banks, including Bank of America, Ally Financial Inc. and JPMorgan Chase & Co., suspended foreclosures late last year in states where a court order is required to take back a home. Bank of America went as far as to declare a national freeze as it reviewed its process, though it lifted that policy in November.

Analysts credited the Bank of America action for depressing foreclosure sales across the Golden State in November and a subsequent sharp increase last month.

How quickly banks will return to foreclosing in the New Year remains the wild card in the equation.

About 4% of all homes in California were at some stage of foreclosure last year, RealtyTrac said. That acts as a drag on the housing market overall, as the availability of low-priced bank repossessions lowers the value of competing properties.

Christopher Thornberg, principal of Beacon Economics, said that high rates of default among borrowers in California are likely to push up foreclosures, but so far the state's fairly efficient foreclosure system and active housing market have been able to absorb these properties.

"They get snapped up pretty quickly," Thornberg said. "We are not ending up with swaths of empty homes the way that was being predicted."

Homes Get Smaller, More Energy Efficient

What features do buyers want today and in the future? The answer: smaller, more energy efficient homes.

The average size of a new single-family home in 2010 was 2,377 square feet, down from 2,438 square feet in 2009 and down from the peak of 2,520 square feet in 2007 and 2008, according to U.S. Census Bureau data presented by Rose Quint, assistant vice president of survey research for NAHB at the International Builders’ Show in Orlando Thursday, Jan. 13.

And the trend will only continue, Quint said, with the 2015 new home size currently projected at 2,150 square feet with fewer bathrooms and smaller garages.

It’s hard to say whether home sizes will decline to 1970 levels of 1,500 square feet. But Quint says she believes smaller sizes are here to stay based on demographics.

The U.S. population was 310 million as of April 2010. That’s expected to rise to 322 million in 2015 and continue to climb up to 422 million by 2050. The population is also getting older and more diverse. In 2010, 25 percent were over the age of 55, which is expected to grow to 31 percent by 3050.

This rising segment of older home owners will not want to care for huge spaces, Quint said. Then you have Generation Y buyers who are very energy conscious. “People are coming to realize, ‘Let’s buy what we need,’” said Quint.

The Census Bureau data is congruent with NAHB’s findings that builders expect to build smaller homes with more green features in the next five years. Low energy windows, water efficient features, engineered wood beams, joints, or trusses, and energy star ratings are expected to be more revenant.

Builders also expect an increase in living room size as well as more planning for universal design features with homes more easily adaptable for future improvements, said Quint.

Jill Waage, executive editor with Better Homes and Gardens, also presented her magazine’s 2011 consumer preferences survey, which was taken the first week of December. According to Waage, the top three improvement priorities for home owners are a laundry room, additional storage, and a home office. “The connection to outdoor living space is also really important,” Waage said.

Other trends included in the Better Homes and Gardens study: built-ins, media space for flat screen TVs and gaming systems, and areas of the home wired for technology. Buyers also want combined kitchen, family room, and living room open space. Universal design features, she said, will be incorporated in much more subtle ways.

Hot Design Trends Debut at International Builders’ Show

Smaller spaces, energy efficiency, Earth tones, and outdoor entertainment are all the buzz as the latest design trends debut at the International Builders’ Show in Orlando this week.

A survey of 2,000 consumers conducted by Better Homes and Gardens found that buyers don’t want any “wasted space” in their next home. They are seeking more value for their dollar, said editorial director Jill Waage, who presented the study’s findings Thursday. Affordability remains a high priority as well as energy efficiency, which was ranked highest to 68 percent of the consumers polled.

“Consumers are once again dreaming about their next home as well as planning ways to make their current home reflect their personal style and needs,” said Waage. “They are also setting priorities and watching their wallets in the process.”

The top ranked living space features listed by consumers are a separate laundry room, additional storage space with walk in closets or build-ins, a home office or workspace, outdoor living areas, at least one bathroom with its own private bath, and everyday eating space in or close to the kitchen.

“Today’s family wants a hive area where they can move seamlessly from mealtime to tech time to game/entertainment/hobby time to homework time,” said Waage.

Kay Green of Kay Green Design echoed Waage’s findings in her International Builders’ Show presentation Friday. “People want more of a clean line look with contemporary interiors,” Green said. “Stainless steel continues to be popular.”

Here are more design trends taking hold in

• Outdoor amenities such as grills, sinks, showers, and entertainment areas.
• Freestanding tubs with a separate stand-up shower in the bathroom.
• Color schemes – Earth tones, blues and blue greens, chocolate browns.
• International design influence, especially Asian design in both décor and functional products.
• Ceiling details accenting rooms within open floor plans.
• Media space for flat screen TVs and gaming systems, and living areas wired for technology.
• Organizational features, built-ins, and smart storage areas throughout the home.
• Universal design features incorporated in subtle ways.
• Artistic tile in kitchens and baths, often emulating organic patterns found in nature.
• Energy efficient products – washing machines, dish washers, toilets, and showerheads.
• LED lighting incorporated into sinks, showers, and medicine cabinets.

There are many articles and headlines that I have chosen not to include in this months newsletter, primarily because they are so negative and only relate to the nation.  Our market here in the Valley, and especially SCPD, is so very unique that much of the real estate news does not relate to us, even in a small way. 

A special thanks to those of you who have referred me to your friends.  It is a huge compliment and I take my responsibility to provide them the best service possible very seriously.  I love the special friendships that have evolved from my business.

My previous newsletters are available to you via my website at www.LindaNovick.com.   You can also do property searches and review testimonials from my previous clients.

I hope you appreciate this information.  Please call me if you have any additional questions.  Feel free to let me know if you prefer not to receive my ‘info’ emails and I will remove you from my distribution list.  On the other hand, feel free to ask me to add your husband, wife or a friend that you think would enjoy and benefit from receiving my newsletter. 

Warmest Regards,

Linda Novick, Broker Associate, e-pro, SFR

Senior’s Real Estate Specialist (SRES)

Windermere Real Estate Coachella Valley

Direct:  760-397-3652   Office:  760-773-3958

Email:  LindaNovick@Windermere.com

Website:  www.LindaNovick.com

39 years selling So Cal Real Estate and being Recognized, Respected and Referred

Linda Novick, Broker, e-Pro, SRES, SFR

Broker Associate, Windermere Real Estate

VP Membership Women’s Council of Realtors

Serving Satisfied Clients since 1972 with

Service beyond Sales

Member CDAR, CAR, NAR, WCR,

DRE Broker License #00415294

Happy New Year Sun City Friends and Neighbors.   May 2011 bring you and yours an abundance of blessings, and most of all, good health.  Copy this link into your browser for a special new years wish: 

Last month in December we had 18 closed sales (priced from $159,000 in the California Casuals to $725,000), compared to 7 in November and 24 in December 2009.  Currently there are 20 homes in escrow (listed prices from $134,900 to $599,900), compared to 28 last month and 21 in December 2009.  182 homes are currently on the market (priced from $130,000 to $739,000), just one less than last month, and 25 more than the 157 on the market at this time last year.  I am especially pleased to report that several of my sales were on the market for less than 30 days, one of them being our largest model.  I have some terrifically priced golf course homes with outstanding views and several privacy lots with south facing yards available.

Nationally, Pending Home Sales Continue Recovery

Pending home sales rose again in November, with the broad trend over the past five months indicating a gradual recovery into 2011, according to the NATIONAL ASSOCIATION OF REALTORS ® (NAR).

Lawrence Yun, NAR chief economist, said historically high housing affordability is boosting sales activity. “In addition to exceptional affordability conditions, steady improvements in the economy are helping bring buyers into the market,” he said. “But further gains are needed to reach normal levels of sales activity.”

“If we add 2 million jobs as expected in 2011, and mortgage rates rise only moderately, we should see existing-home sales rise to a higher, sustainable volume,” Yun said. “Credit remains tight, but if lenders return to more normal, safe underwriting standards for creditworthy buyers, there would be a bigger boost to the housing market and spillover benefits for the broader economy.”

The 30-year fixed-rate mortgage is forecast to rise gradually to 5.3 percent around the end of 2011; at the same time, unemployment should drop to 9.2 percent.

Existing-home sales are projected to rise about 8 percent to 5.2 million in 2011 from 4.8 million in 2010, with an additional gain of 4 percent in 2012. The median existing-home price could rise 0.6 percent to $173,700 in 2011 from $172,700 in 2010, which was essentially unchanged from 2009.

“As we gradually work off the excess housing inventory, supply levels will eventually come more in-line with historic averages, and could allow home prices to rise modestly in the range of 2 to 3 percent in 2012,” Yun said.  New-home sales are estimated to rise 24 percent to 392,000 in 2011, but would remain well below historic averages, while housing starts are forecast to rise 21 percent to 716,000.

Could Rising Mortgage Rates Spur Housing Rush?

Mortgage rates have been rising ever since November 2010, when lows of 4.42 percent were reported. Bankrate.com recently reported a rise to 5.02 percent in 30-year fixed rate loans, which is the second time in three weeks rates have crossed the 5 percent mark--many experts say signaling the end to the 4 percent mortgage rate era.

Forecasters predict mortgage rates to hover in the 5-6 percent range in 2011.

Yet, some industry experts say the rise in mortgage rates may stimulate a sluggish housing market.

The rising rates create urgency for potential buyers. They’ll have more incentive to buy soon before mortgage rates go any higher.

After all, higher interest rates mean buyers will pay more for their mortgages. Greg McBride, chief economist at Bankrate.com, told CNNMoney.com that when rates rise 4.25 percent to 5 percent, it takes away 9 percent of the purchasing power of buyers.

Lawrence Yun, chief economist of the National Association of REALTORS®, doesn't foresee a moderate hike in mortgage rates as a negative for the industry. Instead, he says the real mortgage challenge is getting lenders to approve creditworthy buyers for a loan.

"It's less about rates than it is about underwriting standards ... If lenders return to more normal, safe underwriting standards for creditworthy buyers, there would be a bigger boost to the housing market and spillover benefits for the broader economy," Yun said.

Foreclosure starts decline 9.3 percent in California

Foreclosure starts declined 9.3 percent in California from October to November and Notice of Trustee filings decreased 1 percent, according to ForeclosureRadar’s November Foreclosure Report.

Cancellations of foreclosure sales declined 8.5 percent and were down 54 percent in November compared with their peak level reached in June, according to the report.

Home Builders Getting Greener

Home builders are beginning to improve their green policies and practices, but they still have a way to go, according to a new study by Calvert Asset Management Co., which specializes in sustainable and responsible investing.

"KB Home has maintained its No. 1 spot in our rankings. Toll Brothers, Meritage, and Standard Pacific have made modest to significant progress since our last review. Overall, the economic crisis has not thwarted many home builders' efforts to become more sustainable companies," says Stu Dalheim, director of shareholder advocacy at Calvert.

The report also noted:

KB Home is the only large U.S. home builder to produce a comprehensive sustainability report. But Meritage Homes and NVR have made national commitments to building new homes that meet EnergyStar standards.  In light of SEC interpretive guidance on climate change in early 2010, some home builders are choosing to disclose risks related to climate change through their annual 10-K filings.  Climate change may increase the home building industry’s vulnerability because uncertain supplies of raw materials, including land.

Calvert ranked home builders according to their green sensibilities:

1. KB Home
2. Pulte Homes
3. Meritage Homes
4. Toll Brothers
5. Lennar
6. DR Horton
7. Standard Pacific
8. NVR
9. Ryland Group
10. MDC Holdings

Sun City Consignment & Design

A new consignment store just opened in the valley and it is right across the street on Las Montanas, 2^nd building on the left.

- Furniture, china, glassware
- Lamps, pictures, sofas, chair
- Antiques, accessories

Tue-Fri 10am-5pm
Saturday 10am-3pm
Monday (by appointment)  760/200-5005

Embellished Ceilings, Vintage among Top Home Trends for 2011 - December 20, 2010 by Melissa Tracey

So what does 2011 hold for home decor? Expect lots of 2011 forecasts in the coming weeks. Here are highlights from a recent article in which design experts chime in what they expect to see popular in home design in the New Year.

1. Old is ‘New’

Vintage is to be hot in 2011. Period pieces that are repurposed or home furnishings reproduced from the 1950s, ‘60s, or ’70s will get new life again. For example, one design expert predicts more furniture styles inspired from the ‘50s and ‘60s with round tapered legs, geometric accents and seating with curved backs.

2. Bold colors

Aqua and green colors will continue to reign in the New Year. Subdued hues such as sage green, barn red, and mocha brown are also expected to increase in popularity.

3. Energy efficient lighting

The eco-friendly choice of LED will continue to increase in popularity in lighting choices, such as with LED under-cabinet systems and landscape products. Also, expect bold lighting touches in unexpected places, such as chandeliers hanging in the bathroom or closet.

4. Embellished ceilings

The ceiling will be made to be noticed in 2011, becoming more of a focal point in a space. Expect more ceilings to be painted–even in metallic colors–or architecturally enhanced and with chandeliers hanging from it.

A special thanks to those of you who have referred me to your friends.  It is a huge compliment and I take my responsibility to provide them the best service possible very seriously.  I love the special friendships that have evolved from my business.

My previous newsletters are available to you via my website at www.LindaNovick.com.   You can also do property searches and review testimonials from my previous clients.

I hope you appreciate this information.  Please call me if you have any additional questions.  Feel free to let me know if you prefer not to receive my ‘info’ emails and I will remove you from my distribution list.  On the other hand, feel free to ask me to add your husband, wife or a friend that you think would enjoy and benefit from receiving my newsletter. 

Warmest Regards,

Linda Novick, Broker Associate, e-pro, SFR

Senior’s Real Estate Specialist (SRES)

Windermere Real Estate Coachella Valley

Direct:  760-397-3652   Office:  760-773-3958

Email:  LindaNovick@Windermere.com

Website:  www.LindaNovick.com

39 years selling So Cal Real Estate and being Recognized, Respected and Referred

This e-newsletter is not intended to be a solicitation of your property if you are currently listed with another broker

One would have to work really hard not to make a lot of friends or to find
the perfect club to match their interests. There is a club for everyone and
everything, and perhaps two or three. Besides the two championship golf
courses SCPD offers a 18 hole putting course that meanders around a lovely
lake, a softball league, a yacht club (electronically controlled), cyclists,
tennis (10 courts), bocce, bowling league, gourmet club, wine club, acting
club (and lots of plays), gardeners club, card clubs, mah jongg club, hiking
club, pet lovers, RV club and many other crafts clubs such as wood workers,
stained glass, paper arts, oil and water color, model railroad club,
quilting and sewing clubs.
In addition to the arts and crafts and physical activity clubs there are
heritage clubs, solos club (for singles), rainbow club, forum club (thought
provoking speakers), outside entertainers who bring us joy a couple times a
week, karaoke, 3 restaurants, 2 state-of-the-art fitness centers, a terrific
lending library and on-site post office. Let's not forget about the fishing
pond that is stocked for catch and release. Does it get any better than
this?

The best part of all are the people we get to meet. Many come from around
the world and bring wonderful diversity to our community. Most have
marvelous talents to share such as retired actors, writers, musicians,
songwriters, etc. A large number of our residents still work either full or
part time and some have developed different career paths and are doing
something they love.

Sun City is not for everyone (I actually know one couple who moved away
because it was too busy). However, if you want to do all the things that you
couldn't, or didn't do during your working years, then this is the place for
you. If all you want to do is drive around in your golf cart and drink-in
the beauty, then this is the place for you. If all you want to do is walk,
jog or bicycle the trails and behold the mountain, lakes and golf course
views, then this is the place for you. If all you want to do is make more
friends than you have had in your entire lifetime, then this is the place
for you., By Linda Novick, specializing in Sun City Palm Desert

Linda Novick, Broker Associate, e-Pro, SFR Seniors Real Estate Specialist (SRES)
VP Membership Women's Council of Realtors
Windermere Real Estate Coachella Valley
760-397-3652 cell 760-773-3959 fax
Email: Linda@lindanovick.com
Website: www:LindaNovick.Com
DRE License # 00415294
Finding dream homes for 38 years

And by the way, I am never too busy for your referrals.

Linda Novick, Broker, e-Pro, SRES, SFR

Broker Associate, Windermere Real Estate

VP Membership Women’s Council of Realtors

Serving Satisfied Clients since 1972 with

Service beyond Sales

Member CDAR, CAR, NAR, WCR,

DRE Broker License #00415294

Greetings present and future Sun City Palm Desert (SCPD) friends!    April is upon us with blankets of spring flowers everywhere.  I hope you have been out and about enjoying the beauty.  We have experienced several beautiful weeks in the 80’s and now, much to our surprise and appreciation, the temperatures are dropping and rain is expected tomorrow.  A couple of thunderstorms are predicted, and as always, time will tell.

March has been the most active month for real estate in SCPD in the past several years.  Thirty homes sold and closed escrow and 38 more are currently in some stage of the escrow process (there were 40 in escrow at this time last month).  There are currently 152 homes for sale, a decrease of 15 (10%) from March.  What a difference from when we were seeing sales in the single digits just a few months ago.

Rates continue to hover around the 5 percent range.  Eyes are on rates as some in the lending industry fear rate increases as the result of the Federal Reserve’s not buying mortgage backed securities effective March 31, 2010, while others feel private investors will pick up the slack.  Once again, time will tell.  On a good note, Banks are once again offering home equity loans.

Homebuyer Tax Credits can be combined for a limited time.  Californians have a brief window of opportunity to receive up to $18,000 in combined federal and state homebuyer tax credits.  To take advantage of both tax credits, a first-time buyer must enter into a purchase contract for a principle residence before May 1, 2010, and close escrow between May 1, 2010 and June 30, 2010.  Buyers who are not first-time buyers may use the same timeframes to receive up to $16,500 in combined tax credits if they are long-time residents of their existing homes as permitted under federal law, and they purchase properties that have never been previously occupied as provided under California law (new or not occupied for 3 years).  Please call or email me for additional information.

Short-Sale Incentives Start April 5^th – That’s the date the federal government will begin offering lenders financial incentives to hasten the process.  Under the new rules, banks will seek an appraisal before the property is listed for sale and let the sellers know a minimum number they are willing to accept.  If the sellers get a good offer (within the banks value parameters), the lender must accept it within 10 days.  This will go a long ways to streamline the three to nine months typical for bank responses to an offer. 

Estimate of Foreclosures – Although no one can say for sure, the number still seems to be between 500,000 and 1 million.  Since the foreclosure crisis began, experts have been trying to draw some generalizations based on each month’s data, but there are too many moving parts that are continually changing making it difficult to know for certain what will happen to foreclosures in 2010.  One in four homeowners owes more on their homes than their homes are worth, and those homeowners are concentrated in California, Florida, Nevada and Arizona.  Banks are reluctant to write down loan balances. 

Historically short sales represented less than 2 percent of distressed real estate sales.  Today this market is as high as 30 to 35 percent.  According to the National Association of Realtors, one in every 10 homes sales in 2009 was a short sale, with the ratios in distressed markets such as California being far higher.

California Short Sellers to Pay Tax on Mortgage Debt – Governor Schwarzenegger vetoed a bill that would have prevented California homeowners who sold their homes via short sales or received loan modifications in 2009 from being taxed on the forgiven mortgage debt, which would have aligned much of the state’s tax code with that of the federal government.  Unfortunately this bill contained an unrelated provision regarding tax refunds for the state’s largest businesses.  Although the governor vetoed this particular bill, he expressed his support for banning taxation of forgiven mortgage debt, and immediately called for the legislature to send him a bill to provide tax forgiveness prior to the April 15 tax-filing deadline.

More People Are Sharing Homes – About one in every six Americans lives in a multi-generational household, up 30 percent since 2000, according to U.S. Census figures and a study released last week by the Pew Research Center.  The study found that the economy is a primary driver of the trend, but there are other factors as well.  Aging Americans are opting for home health care over nursing homes and Hispanic and Asian immigrants come from cultures where multi-generational living is the norm.  Data by AARP concluded:  The most likely multi-generational scenario is a parent who owns a home and shares it with an adult child and a grandchild; Older women are more likely than older men to live in a multi-generational household; The number of adults older than 65 who live alone is decreasing from 28.8 percent in 1990 to 27.4 percent in 2008.

The New Face of House Flipping – Nationally, the number of flipped homes rose 19 percent to 197,784 in 2009, according to RealtyTrac.  Flipping has been encouraged by a Federal Housing Authority one-year rule change, which allows FHA borrowers to buy foreclosed homes from owners who have held title for less than 90 days.  Many of today’s flippers are wealthy foreign investors from countries like Israel, Germany and Spain.  In many cases, they bid without ever seeing the properties, relying on services that checks titles and send drivers to properties to relay photos and descriptions via mobile phone to bidders.

Markets Where Home Prices Could Rise Most – Money Magazine has released its latest home-price projections for the country’s largest metropolitan areas.  Here are 10 where it believes home prices will rise the most in the next year and the 10 where it foresees the most substantial declines.

Where prices will rise: 

• Santa Rosa, CA, 6.0 percent
• Cheyenne, Wyo., 4.7 percent
• Kennewick, Wash., 4.6 percent
• Merced, CA., 4.4 percent
• Bremerton, Wash., 4.2 percent
• Fairbanks, Alaska, 4.2 percent
• Conallis, Ore., 4.1 percent
• Tacoma, Wash., 3.9 percent
• Anchorage, Alaska, 3.8 percent
• Bend, Ore., 3.3 percent

Where prices will decline:

• Miami, Fla., -22.5 percent
• Fort Lauderdale, Fla., -21.3 percent
• West Palm Beach, Fla., -21.3 percent
• Phoenix, AZ., -18.5 percent
• Las Vegas, NV., -15.4 percent
• Tampa, Fla., -13.8 percent
• Pensacola, Fla., -13.6 percent
• Gainesville, Fla., -13.4 percent
• Suffolk, N.Y., -13.4 percent
• New York City, NY, -12.9 percent

Over-55 Communities Relax Age Limits – Developers are rapidly switching from age-restricted communities to those that invite a broader range of residents.  Prior to the housing meltdown, communities aimed at people older than 55 were springing up all over.  But in the last couple of years, enclaves for seniors have diminished in popularity and even long-time senior-citizen communities like Sun City Grand in Surprise, Ariz., have expanded access, allowing people ages 45 to 54 in 15 percent of the homes.  Sun City Grand’s membership director Meda Cates said, “As we age, we golf less, we spend less money doing activities, and we also wanted to be perceived as a younger community.”

My thoughts are that it would not be necessary to lower age limits if homes were selling as well as they are in SCPD. J

Boomers Ready for Retirement Housing – According to MetLife’s Mature Market organization, more than 78 million baby boomers, born between 1946 and 1964, will reach age 55 over the next 10 years, leading the housing industry out of its slump.  Baby Boomers approaching retirement continue to be interested in buying into active-adult communities, but their moves are slowed due to a decline in the value of both their retirement savings and their current homes. 

Vacation Home Interest Is on the Rise – The market for second homes is improving, but prices are still as much as 40 percent off Barron’s magazine observes.  To entice its readers, Barron’s identified 10 locales with beautiful views, challenging golf, good fishing, fine restaurants and lots of good shopping.  Many of these second home buyers are currently investors.

‘Speed Decorating’ Quickly Improves Property – Anyone planning to sell a home might be advised to read Jill Vegas ‘Speed Decorating’.  Vegas explains how to redecorate at minimum cost and maximum speed.  “It is not about calling in contractors; it’s about looking at a room and thinking about what you can do in a couple of hours, a week, to make it better.”  Here are a few tips:  Clear out the clutter; Clean and repaint; Define the function of each room and then place furniture to accentuate that purpose; Improve the lighting, adding bright light to work areas and soft light to bed and dining rooms; Use art and accessories to add drama and personality.

Here are their favorites:

Maui; Kiawah Island, S.C.; The Hamptons; Park City, Utah; Aspen, Colo.; Pebble Beach, CA.; Palm Beach, Fla.; Captiva/Sanibel Island, Fla.; Asheville, N.C.; Gasparilla Island, Fla.

We have 5 of the 6 requirements to make this list here in SCPD.  I guess our Fishing Pond didn’t qualify for the ‘good fishing’.

Top Kitchen Trends for 2010 – The National Kitchen & Bath Association surveyed designers to reveal the top design trends for 2010.  Among the trends gaining popularity this year:  Hide your appliances in kitchen drawers, whether dishwashers-in-a-drawer or under counter refrigeration (drawers being used as refrigerators).  More home owners are opting to tuck their appliances away so they don’t interfere with the design.  Part of the appeal to dishwashers-in-a-drawer is their convenience with the capability of washing small loads of dishes in each drawer, which saves water and electricity.  Here are some of the other top kitchen trends for 2010:

Color:  Shades of white and off-whites are the most common kitchen colors, followed by brown, beige, and bone hues.

Cabinetry:  The most popular wood for kitchen cabinetry remains cherry, followed by maple.  In the decline:  Painted cabinetry and light natural finishes and distressed finishes.

Design style:  Traditional is the most popular kitchen design with contemporary following closely behind.

Flooring:  Ceramic and Porcelain tile and natural stone remain the most popular kitchen flooring.  Hardwood, however, will dominate kitchens this year more than ever.

Countertops:  Granite is the most popular option, but quartz is inching up to it in popularity.

Of course these trends are not everyone’s cup of tea, but it is fun to see what else is ‘out there’ from time to time.

Sincere thanks to those of you who have referred me to your friends and family.  I treasure referrals and treat them with the utmost care.

If you would like to read any of my previous newsletters you can access them via my website at http://LindaNovick.com.

I hope you appreciate this information.  Please call me if you have any additional questions.  Feel free to let me know if you prefer not to receive my ‘info’ emails and I will remove you from my distribution list.  On the other hand, feel free to ask me to add your husband, wife or a friend that you think would enjoy and benefit from receiving my newsletter.  You would be doing them a favor.

To our snowbird friends:  We have enjoyed your company and look forward to your return in the fall.

Kindest Regards Always,

Linda Novick, Broker Associate, e-pro, SRES, SFR

Windermere Real Estate Coachella Valley

Direct:  760-397-3652   Office:  760-773-3958

Email:  LindaNovick@Windermere.com

Website:  www.LindaNovick.com

This e-newsletter is not intended to be a solicitation of your property if you are currently listed with another broker.

Linda Novick, Broker Associate

Desert Living

January 2010

Coachella Valley Home Prices On The Rise And SO ARE SALES

Along with many other outside factors influencing Coachella Valley home prices are SUPPLY and DEMAND. Our SUPPLY (INVENTORY) is currently at a four-year low and our DEMAND (BUYERS) is moving towards an all-time high. As we enter our desert’s peak real estate season, we are experiencing many realistically priced homes. Sellers realize they are competing with short sales and Bank Owned properties and understand the importance of pricing their properties in accordance with the current market conditions.

Bob Deville, owner/broker of the desert’s largest and fastest growing real estate company, says, "Never before have we seen opportunities like this in the real estate market."

Our positive trend in home prices and units sold and a better employment outlook has helped our Consumer Confidence Index rise more than 2.5 points in the month of December. Our Federal government gets it — with positive home owner programs directed explicitly to boost homeownership. Our Federal Tax Credit that was extended to April 30th and has credit of up to $8,000 for first time buyers, has played an important role in our continued positive momentum. Congress even enhanced the program to include homeowners who have lived in their current properties for at least five years. They can now claim a tax credit of up to $6,500 if they relocate. The Federal Reserve is also buying up $1.25 TRILLION in mortgage-backed securities to help keep interest rates at their historic lows.

While there may be many great deals with the bank-owned and short sale properties, Buyers need to be well educated on the process. There is no emotion on the seller side of these transactions. Properties are put out there and the price is the price and usually the condition of the property is take it or leave it. Buyers are competing with multiple offers and the closing days can be from 60 days upward. Deville strongly recommends to Buyers not to get hung up on JUST Bank Owned, Short Sale or distressed properties. Sellers are getting it in this market. They understand who their competition is and are pricing their properties realistically in the market.

"I would much rather attempt to buy a property that has been well maintained and occupied up until closing to assure the integrity of the home," says Deville. "Many times in the distressed properties appliances, pool equipment, bathroom fixtures and countless other fixtures and equipment have been removed from the property. All I am saying is DO NOT rule out looking at ‘regular listings.’ There are many great deals out there."

As we enter into our prime real estate season, now is the time to choose your Windermere real estate professional. A real estate agent is needed in the transaction more in today’s market than ever before.

If you have been waiting for the right time to buy, YOU BETTER JUMP INTO THE MARKET NOW.

Desert Living

January 2010 / Page 2

January Calendar Of Local Events In & Around The Desert Area

5-18 21st Annual Palm Springs International Film Festival

Contact: 760-322-2930 or www.psfilmfest.org

6 Happy Trails Adventure at Cahuilla Hills Park Palm Desert

Location; National Monument Visitor Center, 8:30 AM to 11:00 AM

Contact: (760) 862-9984

7-10 Kennel Club Dog Show

Location: Empire Polo Club in Indio

Contact: 323-727-0136

8-9 Elvis Birthday Celebration 75 years Young

Location: The Elvis Honeymoon Hideaway in Palm Springs

Contact: 760.322.1192, or www.Elvis honeymoon.com

8-10 19th Annual GLBT Palm Springs Winter Classic Softball Tournament

Location: Ace Hotel in Palm Springs, 701 E. Palm Canyon Drive

Contact: 760-325-8481, or www.aidsassistance.org

18-24 Bob Hope Classic

Contact:1888-MRBHOPE or visit www.BobHopeClassic.com

19-31 Southwest Arts Festival

Location: Empire Polo Club, Indio, www.southwestartsfest.com

ENTER TO WIN Windermere So Cal MONTHLY Drawing

Enter to win our monthly drawing. January’s free giveaway is two tickets for a Hot Air Balloon Ride in the Windermere Balloon (A $375 Value).

Email your contact information to:

MonthyDrawing@WindermereSoCal.com

by midnight of the last day of the month to be entered in that month’s drawing. The winner will be notified and announced on our company blog www.WindermereSoCal.com/blog the first week in February 2010. No purchase necessary. Contestants must be of legal age.

Windermere Desert Living newsletter is

published monthly by Windermere Real Estate Coachella Valley, 71-691 Highway 111,

Rancho Mirage, CA 92270

www.WindermereSoCal.com | 760.341.4141

© Copyright 2010 Windermere Real Estate Coachella Valley. All rights reserved.

Why Use An SFR Certified Agent?

According to a recent The National Association of REALTORS® survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures. The percentage may even be higher here in the desert area.

For this reason, NAR now offers a Short Sales and Foreclosure Resource (SFR) certification to REALTORS® who want to help both buyers and sellers navigate the complicated transactions involved with distressed sales. The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, limit risk, and provides resources to help REALTORS® stay current on national and state-specific information as the market for these distressed properties evolves.

Linda Novick, Broker Associate

Here is a short video taken at Sun City Palm Desert's Main Clubhouse during the 2009 holidays. Sun City Palm Desert is in general a lively place to live and play, but during the holidays it swells with friends and family visiting and enjoying the wonderful amenities that we enjoy all year long. We see families fishing together at the fishing pond (stocked, catch and release); the 18 hole putting course is overflowing with competition, as are the bocce and tennis courts. Our two beautiful championship golf courses are full to the brim as are our swimming pools. It will remain this way until after the new year when families return to work and school, and friends return to their homes. And while we wait for their return on another holiday we will just have to endure the quiet and peace once again.

See additional videos of Sun City Palm Desert activities at http://lindanovick.com/

Linda Novick, Broker Associate Email: Linda@LindaNovick.com

Direct: 760-397-3652

Resident and specializing in Sun City Palm Desert, an active adult residence of 4,985 single story homes in a gated golf and tennis community. You will find 3 clubhouses, 3 restaurants, our own on-site post office, 2 pro shops, driving range, practice area, tennis and bocce courts, softball diamond, fishing pond, dance studio for aerobics and other exercise groups, computer room, painting, sewing, knitting, quilting, jewelry, stained glass, wood working, ceramics and other activity clubs.