Just Listed!

Here's a preview of my latest listing at 1472 Vallejo in Corona!  This is a charming 4 bedroom home that's just right for first home buyers or investors!

Click the link below for my virtual tour:

http://link.email.dynect.net/link.php?

Don't Miss Our Halloween Pumpkin Patch!

Tarbell Pumpkin Patch, Saturday October 18, 1:00 PM to 3:00 PM
315 Magnolia Ave, Corona in the Von's Shopping Center

Tarbell REALTORS, Corona is happy to present it's annual pumpkin patch!  This annual tradition is great fun for the kids-  we'll have hot dogs, jumpers, a haunted house, games, goodies, pumpkins and more!  Best of all, it's free to our guests!  Be sure to join us Saturday, October 18 from 1:00PM to 3:00PM for the festivities. 315 Magnolia Ave, Corona, CA 92879 See you there!

A Guide to Home Sales- Find the Right Selling Price!

A Successful Sale Requires the Right Balance

By Bruce Ueno

Selling a home can seem like a complicated process to many homeowners, especially if they're confused with regard to finalizing their listing price.

Price is the single most important factor in determining the successful sale of your home. Your real estate agent will prepare a comparative market analysis or CMA to help you determine the optimal point at which to list when selling your property. In addition to hiring an expert agent, you can take some steps on your own to assist in the process and ensure that your home finds a buyer. So just how can you find the right listing price and make the most of your home’s sale?

The best way to determine your home’s listing price is to conduct a survey of the other homes in your neighborhood and perform a quick comparison of similar properties to help provide you with an estimated listing price.

To conduct your quick comparison, here is what you need to examine:

How your Home Measures Up
Make a list of the features of your home and compare them with others on the block. Every homeowner modifies their home according to their preferences, and it is quite possible that although the exterior is the same, the interior may add or detract from the value of the home.  Real estate agents are frequently asked to prepare a market analysis sight unseen, so informing your agent of upgrades, renovations and other changes to your property will help to ensure the accuracy of your CMA.

Determine the square footage of the living space; age and condition of the house; the number of bedrooms and bathrooms in the home; availability of amenities, appliances and other upgraded features; the overall size of the property including the yard; the condition and upkeep of the structure; and finally; the location of the home, which can greatly impact its value.

Previously Listed Prices
Consider the listed prices of the homes in your neighborhood. Look as far back as 3 months ago if the market is stable. However, in fast-paced markets, you may even consider only the prices listed in the past 60 days.

The easiest way to compare home prices on your own is to search online. Real estate listing websites can provide you with the information you need to discover the prices of homes that have been put on the market in the previous months. Simply use your zip code to gain an estimate of the prices of homes in your area.  It is important to understand when using these sites that the information provided is aggregated from many sources, and may not be entirely current or accurate. Therefore, listing sites should be regarded as providing only cursory guidance.  Your real estate agent will be able to provide you with additional information on your market and your home in your CMA.

Selling Price

Anybody can quote a high price and put their home on the market to be sold, but the listed price does not determine the true value of the home within the local real estate market. In order to discover the worth of the houses surrounding your property, you need to determine their actual selling price.

For many homes, the actual selling price will vary greatly from the price that was originally listed by the owner. Delays in the sale of a property are painfully common when buyers and sellers struggle to come to an agreement on the value of the home. It is best to demand and list a realistic price for your home, especially if you are in need of a quick sale.

What's In Demand
After evaluating your home, and the ones surrounding it, you will become aware of the features that have resulted in the final selling price of the neighboring properties. This will provide you with an estimate of the local rates. Accordingly, you can analyze the features of your property, comparing them with the sold homes and determine the right listing price for your abode.

If you are seeing an emerging trend of unsold properties in your area, try to discover why they are not being sold. Has your neighborhood become too noisy and crowded? Are those homes in poor condition? Do they lack modern amenities? Once you discover the reasons, try to correct them within your own home to increase its demand.  Your agent will be able to provide you with guidance on the corrective action necessary to effect a successful sale.

A listing price that is too high will turn the buyers away, whereas too low a price may be unfavorable for you. So opt for a balance, and find an experienced local realtor to sell your home.

Are you selling a home in the Riverside or Orange Counties?  I'm here to help.  (951) 310-0397

Superadequacies: Why Your Palace May Be A Home Buyer's House of Horrors

Door to Nowhere, Winchester Mystery House

By Bruce Ueno

In the suburbs of San Jose stands what is perhaps America's best known monument to home remodeling run amok.  The Winchester House is an immense and forbidding Victorian mansion whose labyrinthine interior contains some 160 rooms, 47 fireplaces and architectural oddities like stairs that lead to nowhere and doors that open to solid walls or sheer drops. The home is a testament to the quirky design predilections of gun heiress Sara Winchester, and the very embodiment of the term "superadequacy".

From the Latin for "above, over or beyond", at first blush a "superadequacy" sounds like it could be a good thing. After all, who wouldn't want a home that is far more than adequate.  Home appraisers and real estate professionals however, have a much different definition for the term.  In real estate parlance, superadequacies can be defined as improvements to a property that exceed market requirements and  that add little or nothing to the property's value. To the contrary, many of these over- improvements can actually decrease a home's equity and its desirability to future buyers.

As a Realtor, I typically see several mini-Winchester houses during the course of a year, those ambitious but ill-conceived renovation projects that cause potential buyers to scratch their heads and ask "what on earth were they thinking?" Here are a few tip-offs that your home may make the list:

Home Is a Hodgepodge
Home design is a complex art, and residential architects are well-versed in achieving the ideal balance of form and function.  In a properly designed home, every room, every window, and every door has a place and a reason to be there.  Do-it-yourself renovations often ignore the home's original design objectives with disastrous results. I recently viewed a 1300 square foot house with a rambling 1300 square foot addition that included such lovely amenities as an 8' outdoor Jacuzzi in the bonus room, a windowless, dungeon-like game room hidden behind an obviously fake false bookcase, and a trophy wall adorned with the owner's prized collection of of empty beer cans (included in the sale, and valued at $4,000).  A series of agents had attempted to sell this home over the years, all of them without success.

Options are Gone
Presumably, owners renovate in order to get some added benefit from the home, but to get a sense of the impact the improvement will have upon a home's attractiveness to a future buyer, it's also necessary to think in terms of the attributes that are sacrificed in order to receive the benefit. For example, a room addition will add interior space, but if it takes up a large portion of the back yard  potential buyers may come to see the negatives as outweighing the positives.  They'll see that there's no room for a mom's vegetable garden, no play area for the kids and room for an outdoor entertainment area; all bad news for a seller.

Property Boundaries and Easements are Ignored
This is a topic in and of itself, but I've included a mention here because encroachments and superadequacies often go hand in hand.  One hapless property owner I know built a large room addition that opened onto a local power company's easement, with the mistaken notion that the company would never actually exercise it's right to the use of the property.  When the utility announced plans to run new lines through the easement, the homeowner fought the company and lost. The back door of his home now faces a high wall just inches away, rendering a sale virtually impossible.

It's the Biggest House on the Block
When it comes to houses, you really can have too much of a good thing.  The old saw holds true here- from a resale standpoint it's best to be have the smallest home in a neighborhood of larger homes than the largest home in neighborhood of smaller ones. Appraisers and real estate professionals know this as the principle of regression. If your home is a 3000 square-foot behemoth in an area where others houses average 1600 square feet, the value of your home will be drawn down by the value of the smaller homes in the area. Potential buyers who want a 3000 square-foot house will look for it in a neighborhood of similar properties, not in yours.

It's Out of Character for the Area
Even if you home's square footage is in line with the neighborhood, other improvements that are not in keeping with local norms can impair the value of your home.  The addition of an ornate stone facade to a home in a tract of plain-Jane, cookie-cutter houses, for example, is not likely to make the property appraise for any more than other homes in the area, and may actually cause the value of the adjacent properties to decline.

It's Quirky
When we want to describe something as being unimaginative or ordinary, we often refer to it as being "plain vanilla", like that same 'ol drippy ice cream cone you may have enjoyed as a kid.  The fact is that vanilla has been the top selling ice cream flavor for years, and it's likely to stay that way for some time to come.  People like vanilla, and vanilla has the special quality of being compatible with just about everything.  What is true for ice cream also holds true for houses. No matter how much you may have spent customizing your castle, the sad fact of the matter is that buyers want to project their own vision onto the blank canvas of their future home.  Your home should be a special place with its own charm and character, but houses that suffer from too much character are a tough sell even in the best of neighborhoods. The late Dick Clark's Malibu abode, infamously fashioned in the style of cartoon caveman Fred Flinstone, has been on and off the market for over a year and has failed to find a buyer despite it's spectacular location and a half-million dollar price reduction- the more "special" your home is, the fewer potential buyers it's likely to find.

If your home suffers from one or more of the symptoms of superadequacy, all hope is not lost.  Your home can still attract the right buyer if you are prepared to make a few changes and compromises on the way to a sale.  An effective real estate agent can guide you through the process of minimizing the problem areas and positioning your home for maximum return on your investment.

Need guidance in the sale of your home?  Contact me today for a no-obligation consultation! (951) 310-0397

Why a Realtor Might Not Take Your Listing

By Bruce Ueno

Listings are valuable to any real estate agent, and homeowners know dozens of eager Realtors are vying to pick up new clients. In spite of this, there are a multitude of reasons a Realtor might find it necessary to decline a listing. If you want to be in a position to have access to agents of your choice, then it's wise to be aware of a few pitfalls. The list below will help you avoid being the type of seller Realtors avoid.

Dangerously Neglected Property

Most agents have no problem listing fixer uppers. However, there is a big difference between "needs TLC" and "enter at your own risk". If an agent discovers your home is in such disrepair that it is unsafe to allow potential buyers on the premises, then don't be surprised if they decide it's not in their best interest to represent you. Make sure important repairs are done before you try to list.

　　

Unrealistic Price Expectations

It’s your realtor’s job to sell your house under your terms right?  Not quite.  Although realtors are expected to use their best efforts to sell your property, no amount of salesmanship can sell a home that is far in excess of what the market will bear, and no realtor wants to spend valuable time, energy and money marketing a hopelessly overpriced property that will ultimately languish.

Wily Tenants

Wily cartoon coyotes are amusing. Ornery or disrespectful tenants are unbearable. Buyers and Realtors are usually tolerant of the tenant lifestyle in a rental house, but neither will tolerate horrible behavior in order to view a property. Realtors will stay away from listings in which tenants are likely to sabotage buyer's agent showings. Know your rights as a landlord, and make it clear to tenants what the consequences will be if they don't cooperate with your attempts to sell the property. It may be best to wait to list your house after the tenants are gone.

Excluded Buyers

Some homeowners want to hire a Realtor after they have unsuccessfully tried the FSBO (For Sale By Owner) approach. Occasionally, sellers don't like the thought of paying a Realtor commission for a buyer which may have viewed the house while FSBO . Do not expect Realtors to take listings with a list of buyers for whom they will not get a commission. This also goes for trying to exclude your grandma, your sister, your neighbors, and all your friends.

You Want to Race Your Realtor

If you are savvy about the real estate market and a go-getter, then it might make you cringe to think you could possibly end up paying commission for a buyer whom you met and dazzled with your real estate brilliance. It's not unheard of for this type of seller to want a listing agreement to state if the owner brings a client, then the Realtor will get no commission. Few agents will want a listing where they are competing with their own seller.

　　

You Are Litigious

If you are already discussing a willingness to sue over circumstances which haven't even transpired yet, then be prepared for agents to run the other way. Sellers' agents are ethically and legally required to uphold their client’s best interests within the scope of the law, and a homeowner has every right to seek justice if they feel it's necessary. However, the last thing any good Realtor wants is to end up in court against fellow agents, buyers, or even their own seller.

 　

To a Realtor, each new seller and home always presents unique and sometimes unpredictable circumstances. Real estate agents prepare for this and some even thrive on it! Nonetheless, some listings "just aren't worth it" when a Realtor feels they may bring about wholly unbeneficial outcomes. If you feel your property may include come of the issues mentioned above, then make efforts to correct them before you begin scouting agents. You deserve to be represented by the best Realtors of your choice.

For a free home evaluation contact me today!  951-310-0397

See Three Free Fireworks Shows this Fourth of July (without being in two places at once)

By Bruce Ueno

Looking for family activities in the Western Inland Empire for the Fourth of July?  Here's a synopsis of local events!  Note: This article contains information from third party sources; please contact the respective sponsors for additional information.

Eastvale

June 27 to 29:  Get in the summer spirit in the lead up to the 4th with the JCSD Parks and Recreation Department's 10th annual Picnic in the Park, to be held this year in it's new location at Eastvale Community Park, 12750 Citrus Street in Eastvale. The 3-day celebration will include fun activities for the entire family, including carnival rides, water slides, food, community information booths, merchandise vendors and more!  Events kick off at 5 PM Friday June 27th, and will feature a live concert at 7 PM.  Saturday evening's program includes a not-to-be-missed, spectacular fireworks show at 9 PM.

• Admission is FREE.
• Pre-sale tickets for carnival rides can now be purchased for $10 for 8 rides at the following locations: Eastvale Community Center, 13820 Schleisman Avenue and Neighborhood Center at Harada Heritage Park, 13099 65th Street.
• Tickets can also be purchased online at www.parks.jcsd.us
• On the day of the event, carnival ride tickets will be $1.25 per ticket, $20 for a sheet of 20 tickets, or $25 for a sheet of 32 tickets. Each ride will require between three and four tickets.
• For inflatable attractions (regular and water activities), wristbands will be $5 for Saturday only and $8 for both days.
• The cost of carnival games will vary from booth to booth.
• There will be numerous vendors selling food and merchandise.
• For more information call the JSCD at (951) 727-3524

Riverside

July 3:  The Riverside National Cemetery will be hosting it's annual Concert for Heroes, a much beloved event and Inland Empire tradition featuring a selection of patriotic and classical music performed by the Riverside County Philharmonic Orchestra.  The concert will begin at 7:30 PM at the cemetery's amphitheater and will conclude with a fireworks display. The event is free to the public but the amphitheater has limited seating, so plan to arrive early.  Blankets, lawn chairs and flashlights are highly recommended.  Alcoholic beverages are prohibited.  The Riverside National Cemetery is located at 22495 Van Buren Boulevard, Riverside, CA 92518. (951) 653-8417

July 4:  The city of Riverside Parks, Recreation and Community Services Department hosts fireworks at 2 locations. The largest show takes place at the foot of Mt. Rubidoux at the Evergreen Memorial Historic Cemetery located at 14th and Pine Streets, where fireworks will by synchronized with music playing live on KOLA 99.9 radio. Day-long festivities include food, music, children's activities and fireworks at dusk.  Admission is $5.00 for those 12 and up, and $1.00 for children 3 to 11.  Children under 2 are free. Aerial fireworks begin at 9 PM.  For those in Western Riverside, a show will also be held at La Sierra Park, 5215 La Sierra Avenue.  For Information contact the City of Riverside Parks, Recreation and Community Services Department (951) 826-2000

  

Corona

July 4: The city continues a proud civic tradition with its annual 4th of July celebration.  Day-long festivities begin at 10 AM with a parade down Main Street.  Bring your lawn chair and a cool drink and watch the procession along Main Street between Ontario and Olive Avenue.

The celebration continues at Santana Park, 598 Santana Way, with games, food vendors and entertainment for the entire family.  The event culminates at 9 p.m. with a fabulous fireworks display.  Admission to the festival is free, but alcohol, smoking, RVs, tailgating, charcoal grills and pets are not allowed in the park.  For more information, contact the Recreation Services Division at (951) 736-2241.

Lake Elsinore

July 4:  The city on the lake celebrates the 4th as only Lake Elsinore can, with a spectacular fireworks show launched from the T-Peninsula on the southern end of the lake.  Fireworks will begin at 9:00 PM.  Free viewing locations include  Lakepoint Park, Elm Grove Beach, Davis Fishing Beach, Whiskers Fishing Beach and a portion of levee system.  Paid viewing locations include all the commercial campgrounds, including the La Laguna Resort.  Boaters can partake of a special treat- watching the show on the water! Special nighttime boating passes are available for sale at $10.00 each from qualifying commercial boat launch facilities.  Vessels must be motorized powerboats greater than 12' in length that are registered and displaying CF insignia. No personal watercraft are allowed.  Participation is limited to 350 vessels.  http://www.lake-elsinore.org/index.aspx?recordid=594&page=26

Norco

July 4:  Festivities begin with the Rotary Club's All You Can Eat Pancake Breakfast from 7:30 AM to 10:00 AM at Nellie Weaver Hall, 3737 Crestview Drive, Norco 92860.  $5.00 with proceeds to benefit the George A. Ingalls Veteran's Memorial.

At 10 AM, equestrians saddle up for the Mayor's patriotic scenic ride.  Riders will meet at Ingalls park parking lot 2. Dress is Red white and Blue with prizes awarded to the most patriotic horse and rider.  Helmets required for riders under the age of 18. Saddles required. Stallions, and riding double are prohibited. No steep trails, no river crossings. 

The annual Picnic in the Park will be held at Pike's Peak Park from noon to 3 PM.  Festivities will include games, music, a water slide and crafts for kids. BBQ food and refreshments will be available for purchase.  Alcoholic beverages are prohibited and ice chests are subject to search.

There are no fireworks shows in Norco to scare the horses, but this year's events will be highlighted by a new concert, laser show and movie night to be held at Moreno Arena at the George Ingalls Equestrian Event Center.    Food and refreshment will be available for purchase.  Ice chests and alcohol are prohibited.  Admission is $5.00 per person (12 and under free).  Gates open at 5:30 PM.  At 6:30 PM, enjoy country tunes by Sterling Sylver.  At 7:30 PM, kick up your heels for Norco's longest line dance.  The laser show will begin at 8:45 PM, and will be followed at 9:30 PM by a special screening of Independence Day.  (951) 270-5631

Did you find the fireworks shows on June 28 (Eastvale), July 3 (Riverside National Cemetery) and July 4 (Corona, Lake Elsinore)?  If you go to all three, let me know!

Looking for a home in the Inland Empire?  Give me a call at (951) 310-0397 today!

Make the Jump Into Home Ownership!

By Bruce Ueno

Home values are on the rise and the cost of credit remains near historic lows- this makes the idea of buying a home in today's market an extremely wise one.  While at first the idea may seem intimidating, in the long run, home ownership is a great investment.  If you plan to stay in an area for a while, there's no sense in paying thousands of dollars every month for housing that you'll never own, and never see a financial return on. 

 

If you're ready to take action on finding a home of your own, here are some tips to get your started:

Prequalify with a Lender

One of the first steps to take is to visit a bank or mortgage broker to see what amount of money you might qualify for as a borrower. If you don't already have a lender, your realtor can assist you in selecting one.

Bear in mind, nothing will be hidden from your lender.  For instance, your full credit history and any credit card or school debt will be on display. Your lender will also verify your salary and any other assets you may have.  As tedious and intrusive as this process may sound, it actually works in your favor, as prequalification is one of the best negotiating tools you will have when it comes to closing the deal with a seller.

Once you have been prequalified, don't do anything that may change your credit score. Your lender will verify your credit worthiness again prior to closing, and anything that adversely affects your credit can kill your deal.

Once you know the amount of loan or mortgage you qualify for, you can narrow down the types of homes available at that price.

Important to Note:  Be sensible and avoid jumping into home ownership at a cost that's over your head.  Banks often over-estimate the amount of debt a person can handle.  Unsuspecting purchasers often encounter trouble down the road when they haven't fully calculated all the costs.

Estimate All Costs

There will be costs beyond the price of the house itself.  There will be closing costs to cover, including loan origination, title charges, escrow, appraisal, home inspection and prepaid insurance. There may be sales tax to pay, depending on where you live, or if you're buying a new home from a builder. 

On the big-picture front, there will be house insurance, property tax, and utility bills to pay on a regular basis.  Don't forget to allow for repairs or upgrades that may be required on the home.  Build in room for the charges utility companies will add for opening your account.  Factor in the cost of moving and any new furnishings you plan to buy.

Important to Note:  Don't let the additional costs scare you away from home ownership.  Every homeowner deals with them.  Research them and devise a plan to cover them.

Become Acquainted with the Market

Become acquainted with the real estate market in the area you would like to live.  Look at house sizes and prices online, or in a newspaper or magazine that features homes for sale in your area of choice. 

Start a conversation with a realtor to find out what you can get for the money you have earmarked.  Subscribe to your realtor's update service for information on new listings as they become available.

Important to Note:  Comparing homes from a write-up alone can be tricky.  You'll need to actually visit homes with your realtor to see what you will actually get for your dollar.

Set Your Priorities

Begin your priority list by narrowing down one or two neighborhoods of interest, followed by the number of bedrooms, bathrooms, or square feet you'd like. 

Then answer a few key questions such as these:  Do you absolutely need a finished basement?  Do you need a three-car garage, or will a two-car garage suffice?  Is doing the laundry in the garage workable, or is an interior laundry room a top priority?  Do you prefer an open concept floor plan, or separated rooms?  When the time comes to decide between homes, you might end up choosing a home based on how many items on your list it meets.

Important to Note:  Two homes may be similar in size and style, but they may vary in price from one neighbourhood to another.  Find out why.  Then decide if cost savings or location is more important.

Visit Homes

In order to actually visit homes, you'll need to hire a realtor.  He or she will ask you for details, compare your wish list to the market, and book appointments for you. 

Your realtor may show you houses both below and above your price range.  This will give you a good idea of what is available at various prices. 

Important to Note:  You may not find what you're searching for at first. There may be few homes on the market that fit the description you've given, or you might discover you can't get what you want at the price you have in mind.  Be prepared to compromise, and determine whether you can afford to change your price limit.

Ask Questions

A knowledgeable realtor should be able to answer questions on the homes you're being shown.   No question is too impractical to ask.  Purchasing a home is one of the biggest decisions most people will make in their lives, A good realtor understands this and will be ready to assist.

If your realtor is unable to provide answers to your questions, ask him to look into them and get back to you.  That's part of your realtor's job.  The answers you receive may influence your buying decision.

Important to Note:  Once you sign a contract with a particular realtor, you must stay with that realtor for the term you've signed on for.  You may also have a home inspection completed before sealing a deal.

Think Through Timing

It's preferable to look for a home well before you actually need one.  It may take time for the house that meets all your criteria to appear on the market. 

Once your realtor knows what you are looking for, he or she can keep an eye out for it.  When you do find the home of your dreams, there will be a delay between signing the deal and closing it, so you'll have to factor in time for that too.

Important to Note:  If you're not in a hurry to buy a house, watch the trends in your area.  For many, spring and early summer are peak times for houses to be put on the market.  You'll possibly have more inventory to choose from at those peak times.

Buying a home is a wise investment that will grow over time.  The sooner you get into the market, the better.  Don't delay.  Start taking steps today and, in no time, you'll soon be able to make the transition from home renter to home owner.

Thinking about buying your first home?  I can help take the mystery out of the process.  Contact me today for a free, no-obligation consultation at (951) 310-0397.