Lake Hills View Home Open House Sunday Jan.31 from 10 to 2:00

Amazing views from Riverside's showcase hillside community of Lake Hills. Great price for the location.

Open House-View Home For Sale in Lake Hills

OPEN HOUSE: This Sunday, January 31, from 10:00 to 2:00. Wonderfully located in a cul-de-sac among the hillsides of Lake Hills with majestic views from the master suite, family room, kitchen, and patio. Great home for first time buyers, small families. Wood flooring on first floor, kitchen island and garden window. A short sale listing that needs some TLC, but a great value for a home in one of Riverside's most sought after home locations. A short walk to 2 of the community's private parks. New Lake Hills Elementary School, and soon to be Hillcrest High School.

For a private viewing or more information, feel free to contact The Baird Team at Keller Williams Realty of Riverside.

Press Release from HUD Clarifying Financing Policy Changes

Click above or click here for the press release issued January 20, 2010 by HUD to clarify the changes in their financing guidelines. More detailed information than our previous post, which everyone considering purchasing a home this year should read to know how their options may be affected.

For further help and guidance through the financing jungle and towards the purchase of your new home in the city of Riverside, Corona, or one of our nearby communities, contact The Baird Team at Keller Williams Realty for the kind of solid help and trust you must have in your home search.

FHAs 90-day Flipping Rule to be Waived for One Year

Great news for all of you looking to invest in real estate in the city of Riverside!

You have to take the good with the bad sometimes. After battling to stomach the proposed FHA financing guidelines that will restrict scores of currently qualified buyers from buying a home, effective February 1st 2010, FHA/ HUD will not require that a seller of a property be on title for 90 days or more in order to sell the property to a borrower acquiring FHA financing.

This is commonly referred to as the 'flipping rule', and was initially put in place to fend off the rampant speculation that was in great part the fuel that fed the artificial price appreciation over the expanded sellers market of years past. From a simple economic perspective of supply and demand, that kind of aggressive and some may call abnormal real estate market, cannot be allowed to rise again from the ashes. If any lesson is to be learned from our mistakes of recent years past, it is that a normal real estate market with expected rises and dips in demand and price will help guard against housing collapses like the one we are currently experiencing.

Thinking back to all the times I was asked how long that 'hot' sellers market would last, I would often refer to the cliched expression of "The bigger they are, the harder they fall." With a twist and now dead-on interpretation of that cliche, it became more of a warning. Simply stated: "The higher they go, the further they'll fall." Believe me, I didn't feel good about being right in this case.

Nonetheless, this move by the FHA/Hud is a positive one that will no doubt help bring needed investment in to the housing market. For guidance and help towards obtaining financing and your new home in the Riverside real estate market, contact the Baird Team for the solid experience and trust that you must have from your agent.

Potential FHA Changes

A report from a December 2nd Congressional hearing detailed testimony from HUD Secretary Donovan and FHA Commissioner that they expect FHA to announce changes that although are designed to ensure FHA's long-term financial stability, will make it tougher and more expensive for borrowers to obtain FHA loans and will logically and economically reduce the number of eligible borrowers.

Here are some of the highlights:

• Increase the current down payment from 3.5% to 5%
• Raise the upfront premium from 1.75% to as much as 3%
• Eliminate the ability to roll in to loan that up front premium
• Increase monthly MIP from .55%
• Reduce seller concessions from 6% to 3%
• Raise minimum FICO score(credit score)
• Possible LTV(loan to value) maximums by FICO score
• Increase accountability of FHA lenders for fraud

These changes are expected to be implemented within a couple of months, and will no doubt motivate scores of serious buyers considering their purchase, as well as would be buyers, to expedite their decision and not only take advantage of the $8000 Federal Housing Tax Credit that will also expire early this year, but to qualify for financing before the new FHA rules go in to effect. The new guidelines, once in effect, will for the most part negate the incentive that the $8000 tax credit was designed to create.

If you are considering the purchase of a home in Riverside, Corona, Norco, or other communities withing the greater Riverside area, please contact The Baird Team for guidance and the proper help in finding your new home and obtaining financing before these adverse changes take effect.

The Storied History of Riverside's Treasured Victoria Avenue

As a follow up, here is a great link to the city of Riverside's site page all about historic Victoria Avenue, with a great video that tells the story of its rich history and meaning to the city. Homebuyers looking in Riverside can enjoy this wonderful street with bike and walking paths, and lush landscaping full of tall shade trees and citrus lining the 4 mile long parkway.

Saving the Citrus Heritage of Riverside's Greenbelt

City officials in Riverside are preparing to market a new water rate incentive to residents and commercial nurseries throughout what's known as 'The Greenbelt' to help preserve and promote the city's proud history in the citrus industry. By offering reduced water rates to those businesses and residences who plant orange trees along their perimeter, the move will not only save the average area nursery in the range of $300 per month on water, but will revive what has been a steady decline in a major industry in Riverside.

In 2003, the city had already begun requiring any new development along Victoria Avenue to plant three rows of citrus trees along the street.

A casual drive along Riverside's historic Victoria Avenue, long considered one of the city's treasures, brings back memories of a time forgotten by some, and unknown altogether for the average newcomer. Lined and divided with an interesting mixture of Eucalyptus, palms, Cedars, citrus, and much more, it's easy to forget that you're within one mile from the nearby freeway for most of the drive.

Worth a visit, Victoria Avenue can be easily accessed near its western entrance just a few blocks south of the 91 freeway at the La Sierra Avenue exit, and is a wonderful short cut for residents of Lake Hills and Victoria Grove to travel to eastern portions of Riverside.

Riverside may lend hotel developer $20 million | Riverside | PE.com | Southern California News | News for Inland Southern California

Riverside may lend hotel developer $20 million | Riverside | PE.com | Southern California News | News for Inland Southern California

Scaled back from an earlier plan because of the economy, but much needed towards the continued revitalizing of the downtown Riverside area.

Site for the new Fox Performing Arts Center

Need more details about finding a new home and life in Riverside, Corona, and the surrounding community? Contact The Baird Team for more help in guidance.

2007 Article on Riverside Renaissance Revisited to Show Progress

Take another look at this article from the Press Enterprise, taking an early perspective of the plans to revitalize the downtown Riverside area around the Mission Inn and court district as part of the Riverside Renaissance program.

The treasured Fox Theater has been refurbished and reborn as the Fox Performing Arts Center, with Sheryl Crowe breaking ground as the initial performance of the theater's new era.

Improvements are in process at Fairmount Park.

The pedestrian mall has been completely renovated, and in time for this past Christmas and the Mission Inn's popular annual Festival of Lights.

Live/work condos are nearing completion just east of Mission Inn Blvd on Market Street.

Riverside is still a popular destination for first time and seasoned home buyers looking for value and quality of life, with home styles and price ranges to fit every buyer's needs.

Contact The Baird Team for more information on home availability and finding your new home in Riverside or one of its surrounding communities.

North Hills is newest historical district in Riverside

24 homes near Fairmount Park are included in the city of Riverside's newest historically designated neighborhood of homes known as North Hill.built in the 1910s and 1920s, homes located in the distrit will be required to keep the look of their property faithful to the same time period in which the neighborhood was developed.

Rates on 30-year home loans fall to 4.99 pct

Rates on 30 year fixed mortgage loans have fallen again for a third straight week

Great Views a Coming at the Top of Lake Hills

The weekend of January 23rd and 24th, after the rains have cleared, the views from the top of Lake Hills and the Lake Hills Reserve should be amazing for those who make the drive to the top. There are vantage points that allow wondrous views of the entire Riverside area and Corona, plus those spectacular mountain views that Lake Hills homeowners are lucky to have.

Official site of the Riverside Renaissance

Here is great way for prospective home buyers in the city of Riverside to find out everything happening in the city's Riverside Renaissance program. From road improvements to complete area revitalizing, you will find everything you need to see that the city is serious about improving the overall quality of life for its residents and work force. This is the official city site covering all issues and updates of the program.

The Baird Realty Team at Keller Williams Riverside is poised to assist any and all home buyers with their Riverside home search, to make the home buying process less stressful and much more productive.

Press Enterprise Riverside Renaissance info Page

Click on our link to the left in the sidebar, or on the link above, for complete details on the city of Riverside's Renaissance program and the improvements and projects within the program that are included and slated to revitalize the city.

Live From the Red Carpet at Riverside's Fox Theater

It has arrived. Here's video from the gala grand opening of the new and improved Fox Theater(Fox Performing Arts Center)

Updated Real Estate Stats for city of Riverside

Don't forget to scroll down to bottom of our blog to see the latest trends in Real Estate for the city of Riverside. You'll see the trends for the average listing price for homes including shorts sales, bank owned properties, and standard listings. Click on the 'Inventory' tab for a look at changes in the availability of homes. Keep in mind that the laws of economics play a big part in pricing. For example, low inventory in lots of buyers puts upward pressure on the pricing of homes. Right now in the city of Riverside and the surrounding region, inventory is 'low'.

Great News for Southern California

January 16th, 2010, 12:01 am
Lawrence Yun, the chief economist for the National Association of Realtors, said he wouldn’t be surprised if Southern California home prices increased as much as 10% this year — a departure from his earlier predictions that prices would increase in the 3% to 5% range.

Yun, who once called an earlier double-digit forecast for Orange County “bubblish,” told the Register he’s changed his mind about Southern California. Since demand for foreclosures and lower-priced homes has been so great, he sees a possibility for higher appreciation rates.

“It’s clearly now a seller’s market,” Yun said. “It’s not the case in other parts of the country.”

Sat/Sun-1/16-1/17: Fox Performing Arts Center Public Showing

Reminder to check out the public preview of the newly renovated city of Riverside landmark, the Fox Performing Arts Center from 10:00a.m.to 4:00p.m.this saturday and sunday

Fox Performing Arts Center Grand Opening Eagerly Awaited

Riverside’s beloved Fox Theater in downtown is having its open house to the public on Saturday and Sunday, January 16 to 17th before its inaugural show with Sheryl Crowe later in the month. Here is an old photo of the Fox from the early 20th Century. Upon its grand reopening, the theater will take on the new and more fitting role as the Fox Performing Arts Center, and will play host to well known artists such as Ms. Crowe, Natalie Cole, Benise, and Bill Cosby.

The Center will be a much needed local attraction fitting in well with the City of Riverside's Renaissance program, which once approved several years ago, made way for the revitalizing and modernizing of many loved but well worn locations throughout the city. The new Fox Performing Arts Center offers a more intimate audience environment with its seating capacity of roughly 1500.

Lake Hills and Riverside Anxiously Await new Hillcrest High School

Residents of Riverside’s treasured hillside community of Lake Hills anxiously await for the completion of Hillcrest High School, the city of Riverside’s newest major education construction project. The new school is currently in its initial grading stages, and is scheduled tentatively for an August 2011 completion date.