The document summarizes discussions from a breakfast meeting between real estate agents and city managers from the Temecula, Murrieta, Wildomar, Menifee, and Lake Elsinore areas. It provides an overview of the current state of the housing market and local economies. While the cities still face challenges from state budget cuts, the housing market is improving with increased sales, home prices rising slightly, and new development in the region. Unemployment is lower than national rates. Overall the outlook is more positive than recent years, though a full recovery will take more time.
World Economic Situation And Prospects 2009 2010icgfmconference
Robert Vos, Director, Development Policy and Analysis Division, Department of Economic
and Social Affairs, United Nations
Mr. Vos is responsible for two of the UN’s flagship reports, the World Economic and Social
Survey and the World Economic Situation and Prospects. He also serves on the Secretariat
of the United Nations’ Committee for development policy. During his presentation, Mr. Vos
will introduce current analysis of the short- and long-term economic outlook.
World Economic Situation And Prospects 2009 2010icgfmconference
Robert Vos, Director, Development Policy and Analysis Division, Department of Economic
and Social Affairs, United Nations
Mr. Vos is responsible for two of the UN’s flagship reports, the World Economic and Social
Survey and the World Economic Situation and Prospects. He also serves on the Secretariat
of the United Nations’ Committee for development policy. During his presentation, Mr. Vos
will introduce current analysis of the short- and long-term economic outlook.
Ardo Hansson, Eesti majanduse arengud ja tulevased väljakutsedEesti Pank
Eesti Panga president Ardo Hansson esines ettekandega Eesti majanduse arengust ja tulevastest väljakutsetest advokaadibüroo VARUL 20 aasta juubelile pühendatud konverentsil "Õigus ja majandus muutuvas maailmas"
16.05.2014, Tallinn
The second phase in hosting was exemplified by a shift to a broader set of services in the mass-market, driven by virtualization and automation... the foundation for what will become hosting 3.0, or the next phase in cloud computing. However, the hosting market is simultaneously splintering between public, private and enterprise cloud solutions, creating larger challenges for hosting providers to facilitate to these disparate needs. This brings with it a decision point for hosters: what is needed to adequately compete? How to create cost effective yet resilient and secure infrastructure solutions? Where to invest, who to acquire or how to be acquired? Join Antonio as he describes the State of the hosting industry, the simultaneous looming threats and opportunities that Cloud computing brings to the hosting market, and how to deal with them.
Ülo Kaasik. Eesti majanduse hetkeseis ja palkade arenguvõimaluste väljavaade.Eesti Pank
Eesti Panga asepresidendi Ülo Kaasiku ettekanne Eesti majanduse hetkeolukorrast Pärnu Konverentside korraldataval konverentsil Palga Päev 2014 „Õigustatud ootus?“
Pie Face has a very playful brand and if you don't already reject the monotony of the dreaded corporate 'slide format', perhaps this one will change you mind.
It's a riot of colour featuring a palette that brings to mind a collection of neon signs yet stays on-brand. We developed a series of backgrounds and treatments and then let the actual content decide what colours and background we would use on a given slide.
Not for everyone, but as the old saying goes if no ones hating you, probably no one loves you either. Your job as presenters is to try and standout, our job is to help encourage and cajole you to do so and provide the tools to do it. "Courage Merri … courage for our friends"
The School of Business and Economics at Lynchburg College, in conjunction with the Lynchburg Regional Chamber of Commerce, hosted the spring Economic Outlook Conference on February 1, 2012. Roy Webb, Senior Economist and Research Advisor with the Richmond Federal Reserve Bank, spoke to an audience of approximately 100 people about national economic conditions.
O potencial inerente do Crowdsourcing e seu uso como ferramenta para negócios...Marina Miranda
1º Conferencia Crowdsourcing Comunidades e Co-Criação.
O potencial inerente do Crowdsourcing e seu uso como ferramenta para negócios e organizações.
Carl Esposti
A wrap-up of our 2021 legislative session with special guests California state Senator Melissa Melendez and U.S. Chamber Western Region V.P. Jennings Immel
14 bills to be reviewed by the SWCLC on 1/25/2021 including: ACA 1, an effort to reduce the 2/3 voting requirement to raise local property taxes; AB 71, an effort to increase California's already highest-in-the-nation tax on corporations; AB 116, an effort to force municipalities to allow residential construction in commercially zoned parcels; and SB 39, an effort to mandate Dept. of Corrections trade information with Office of Unemployment (EDD) to prevent the massive fraud of prisoners collecting pandemic unemployment benefits.
A comprehensive summary of the housing market in Southwest California where we're enjoying the strongest Seller's market in years in July. Sales posted their 2nd highest month in the past decade, up 17% over June and up 11% over last July. Median prices continued to climb as well, advancing 6% year-to-date. We are now measuring inventory of homes for sale in weeks, not months.
Need help figuring out what to do with the 12 propositions you'll face on your November ballot? Every year the Southwest California legislative Council assigns our members a measure to research and present. The Council debates the issue based on what impact it will have on our business community and recommends a position. As always, we encourage voters to do their own research and to that end we have a much more extensive document available with all the arguments pro and con, what your vote means, and follow the money.
Every year the Southwest California Legislative Council evaluates statewide ballot propositions to determine which might fall within the purview of our strategic initiatives and impact our business members. Council members select a proposition to research and deliver a presentation to the group followed by discussion and a vote to recommend a YES vote, a NO vote, or NO POSITION. Here are the group's recommendation on the 12 measures you'll see on our November ballot.
Detailed information courtesy of BallotPedia.
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
What is the TDS Return Filing Due Date for FY 2024-25.pdf
7 realtor report
1. Nothing but Blue Skies…
First off I’d like to extend my thanks to City Managers Bob Johnson (Temecula), Rick Dudley (Murrieta), Frank
Oviedo (Wildomar), Bill Rawlings (Menifee) and Tom Evans (Lake Elsinore) for joining Realtors® at our 3rd
annual ‘Breakfast with the City Managers’ this week.
This event is one of the highlights of the year for many of our members and this year was no different. Our
City Managers reminded us how terrific it is to be living and working in this region. Our cities may not exactly
be thriving through these challenging times, but they are all doing better than most. Despite last years state
pilferage of redevelopment funds, and the added insult of stripping VLF funds equaling 22% of Wildomar’s
budget and 18% of Menifee’s, infrastructure improvements, job attraction and parks continue to figure into
each city’s action plan.
Every city is experiencing some revitalization. Unemployment rates are lower than the national rate and
significantly lower than much of the rest of the County. There are new apartments going up in Temecula and 5
new housing tracts springing up in Wildomar. New restaurants, shops and businesses are starting to fill in
some of those shuttered buildings that have populated our region for the past few years. Public safety in our
cities is among the best in the nation as is our education system. There have been lay-offs but our cities have
been able to negotiate with their employees and service providers to maintain a level of service for residents
within the economic realities of the times.
All acknowledge that there are still challenges ahead for our region. One opined that it might be 20 years
before the cities see a return to the level of property tax revenue they had just four years ago. But as the
cities diversify their base that becomes less significant. Temecula currently gets only about 10% of its budget
from property taxes while Menifee, one of our newest cities, relies on property taxes for nearly 50% of their
budget.
And as you’ll see In this months report, housing is doing all it can to move our local recovery forward. Through
the first half of the year sales are up over our previous high water mark in 2010 and prices continue to edge
up ever so slightly across the region. Last month we sold 2.5 houses for every new listing that came on the
market and our inventory dipped even further. It’s not unusual for a new listing to receive 8 – 14 – 20 offers
the first few days and there was a rumor of one local home receiving 100 bids the first week. Wasn’t mine.
Couldn’t say for sure. You know how some people are.
Sacramento and DC continue to do their best to derail our recovery. Last week legislators passed the Attorney
Generals suite of housing bills dubbed the California Homeowners Bill or Rights and the Governor signed off.
While there are many positive aspects of the law, the California Association of Realtors opposed the measure
due to its high propensity to further delay, manipulate and ultimately stall a market still reeling from the worst
decline in memory. More on that in The Last Word…
Thanks again to our City Managers and their staffs for answering every last question from the crowd. This
group can be raucous (both the City Managers and the Realtors®) and we all thought it was too bad there isn’t
a brewpub in Wildomar. Yet.
2. 250
Southwest California
Single Family Residence
Unit Sales
200
150
100
50
0
3/10 6/10 9/10 12/10 3/11 6/11 9/11 12/11 3/12 6/12
Temecula Murrieta Lake Elsinore Menifee Wildomar Canyon Lake
Sales were up over the same period last year in 5 of our 6 cities, up 15% in Temecula
(186/218), up 14% in Menifee (159/184), but down 4% in Murrieta (200/192).
Across the region, June sales were up 4% over the previous year (730/757) but down 5% from
the prior month (796/757).
Don’t spend too much time on this one. This month we’ve got the numbers for the 1st half and
they're better.
3. $400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000 Southwest California Homes
Single Family Residences
Median Price
$50,000
$0
3/10 6/10 9/10 12/10 3/11 6/11 9/11 12/11 3/12 6/12
Temecula Murrieta Lake Elsinore Menifee Wildomar Canyon Lake
June marked the 4th consecutive month with Temecula’s median price over $300,000.
It was also the first time since April 2008 that Murrieta’s median price has ventured above the
$300,000 level.
Canyon Lake enjoyed a 47% spike over last June ($208,014/$329,125), Murrieta was up 11%
over last June ($271,233/$303,196) and Temecula bumped 3% ($296,949/$304,997).
4. 1st Half
1200
9
1
Sales 1 9 8
1 8 8 1
1
9
2
1000 1 6 0
8 1 0 3
0 5 4 9
0 7 7
4 3 6
8 5 7
2
800 8 6
6 5
5 2
0 8
5 7
4 5
2 5
600 4
5
3
2
400 2
9 2 2
1
1 1 0 0 1
8 1 1
4 5 9 1 8
5 2 3
200 8 1 4
1
0
2009 2010 2011 2012
Temecula Murrieta Menifee Lake Elsinore Wildomar Canyon Lake
Residential sales continue strong through the 1st half. Following a good 1st quarter, 2nd quarter
for the region kicked up an additional 4% (2,114/2,212) lead by Menifee, which posted a 27%
increase quarter over quarter (388/535), Temecula with a 24% gain (475/602) and Murrieta
with a 17% bump (496/600).
1st half sales were up 9% over 1st half 2011 ((3,675/4,033) and even up 3% over our previous
bellwether year in 2010 (3,929/4,033). Sales were up 36% from 1st half 2009 (2,565/4,033).
IF we can keep enough product on the market to meet demand, 2012 will easily establish a new
benchmark for SFR sales for the region. Keep in mind that the 1st half of 2010 was aided by the
federal 1st time homebuyer program and a variety of state programs for 1st time buyers and
buyers of new homes. That program expired in June 2010 and from that point through the end
of the year sales faltered. 2012 sales were accomplished without artificial stimulus or market
manipulation so there is some expectation that sales should continue to increase in 3rd quarter
before seeing some dip toward year-end.
5. 350,000
2 2 2
2 2
2 2 2 2
1 2 1
0 1 5 2
300,000 1 6 0 1 7 1 3
8 , 2 1 , 1 1 , 2
8 , 2 3 8 , 8 0
2 , 5 9 7 8 7 7 8 9
2 5 9 , 1 5 3 4 2
8 2 7 5 21 7 2 5 7 6 7 0 7
250,000 , 1 1 , 5 , , 7
2 6 9 5 69 2 , 6 , 9 , , 5 ,
4 0 , 3 2 5 0 2
2 4 1
, 5 2 2 3
48 4 1 6
1
1 1 , 8
8 3 5 5
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200,000 8 9 0 6 4
1 8 9 4
7 6 0
4 , 2 1 9 9
,
7 7 4 8 9 7
0 8 9 9 4
150,000
0 6
0
100,000
1st Half Median $
50,000
0
2009 2010 2011 2012
Temecula Murrieta Menifee Lake Elsinore Wildomar Canyon Lake
There’s good news on median prices as well. Nothing earth shattering, mind you, but positive.
For the region we are up 5% since 2009 ($229,505/$241,798). Temecula has posted a 1st half
price increase in each of the past four years ($282,077/$291,390/$297,122/$304.011) totaling
7%. Murrieta is up 3% since 2009 ($265,670/$272,493).
If you live in Wildomar your home is worth $1,250 more than it was in 2009. Menifee dropped
15% since 2009 ($208,792/$176,459), but just 4% since last year. Last year was the first year for
the expanded City of Menifee, which added substantially to their volume of sales, but much of
that in lower cost areas than the Menifee core.
A couple bright spots. Canyon Lake median price has increased 27% since 2009
($216,510/$297,859). Why is that good for anybody but Canyon Lake? Because Canyon Lake is
primarily a custom home area with higher priced properties. Those homes are starting to sell
more briskly and for better prices which is a good sign for the rest of the region too. (At a
$300,000 median price, Canyon Lake is less than half of its peak of $696, 385 in March of 2007.)
Temecula and Murrieta are also starting to see more activity in mid-upper end homes. As that
activity increases our median price will reflect that improvement.
6. July Market Activity
By Sales Type
Standard Sale Bank Owned Short Sale
% of % of % of % of % of % of
Active MKT Sold MKT Active MKT Sold MKT Active MKT Sold MKT
Temecula 171 81% 111 51% 10 5% 31 14% 30 14% 75 34%
Murrieta 161 69% 101 53% 15 6% 28 15% 57 24% 60 31%
Wildomar 23 55% 13 36% 5 12% 8 22% 13 31% 15 42%
Lake
Elsinore 62 55% 38 41% 14 13% 27 29% 34 30% 26 28%
Menifee 105 58% 78 42% 19 10% 43 23% 52 29% 59 32%
Canyon
Lake 65 79% 20 59% 4 5% 6 18% 12 15% 8 24%
Regional
Average 587 66% 361 47% 67 8% 143 20% 198 24% 243 32%
The product mix continues to shift. 4 years ago 92% of our market was distressed homes with
most of those being bank-owned. Just 8% could be considered standard sales, the old
normal. Today it’s bank-owned properties that make up 8% of our active market and short-
sales have dropped from 60+% to just 24%. Standard sales have made up just over 50% of our
active market for the previous 2 months. In June they were 2/3rd of the active market and
nearly half the closed sales were standard.
Also for the first time in the history of short sales we closed at a prodigious rate. As recently
as six months ago short sales were failing more than 70% of the time. Last month we sold
1.25 short sales for every one on the market. Realtors® have become more adept at working
through the process and it appears that lenders might, at long last, be coming to grips with
the issue and figuring ways to expedite.
The process is still very time consuming with 6 – 12 month decisions being commonplace.
But at least if there’s a light at the end of the tunnel, buyers are willing to hang on –
especially investors who don’t have the same time constraints as ‘normal’ buyers.
And while investors and 1st time buyers continue to make up the lion’s share of the market,
move-up buyers and standard (non-flip) sellers are gradually moving back in as well.
And all of our cities are reporting some level of permitting and building activity in both multi-
family and single family residences. That’s definitely good news.
7. 350
2
July Demand Chart 9 2
9 8
3 3
300 3 2
2 3 2 2
0
52 7
5
5 2
6 4 9
2 4
6 2
250 0
1
2 1 8 1
1 1
3 9 8
2 8 8
3 2 9
200 2 4
1
1
150 1
1
2 9 9
9
8 8 8 8 6 6
3 7
100 2 5 4 3
6 6 8
4 2
4
3 3
2
50 4 6 1 1 1 1 2 1
. . . . . .
2 0 2 0 4 2
0
On Market Pending Closed (Demand) Days on Market Months Supply Absorption rate *
(Supply)
Murrieta Temecula Lake Elsininore Menifee Canyon Lake Wildomar
* Absorption rate - # of new listings for the month/# of sold listings for the month
This is the scary sheet. Last month as a region we sold 2.6 homes for every new home listed
(757/286). In fact we sold nearly as many homes as ALL the homes on the market (862/757)
and we have another 1,340 in escrow. Our inventory stands at just 1 precarious month across
most of the region.
Temecula sold 3 homes for every new listing (218/73), Murrieta 2.6 (192/74), Lake Elsinore 2.8
(93/33) while Canyon Lake brought up the rear only selling 1.9 homes for every new one
(34/18).
Inventory is down 62% since February (2,240/862) and down another 11% from last month
(974/862). While a large number of pending properties bodes well for sales in the next month
or two, it literally spells that we are running out of homes to sell. You can only sell 2 or 3 homes
for every new one coming on the market for so long before you run out of houses completely.
Prices SHOULD be going up. (It’s Bush’s fault).
8. The Last Word…
As I’ve mentioned before, the local housing market is trying to climb out of this hole in spite
of tighter lending standards, increased regulation & oversight, disincentives and tax scares.
But sometimes you win. Just last week a five year effort by our national association to get a
long term extension of the National Flood Insurance Program:
WASHINGTON (July 6, 2012) – The National Association of Realtors®applauds Congress
for passing a five-year reauthorization of the National Flood Insurance Program (NFIP).
The Biggert-Waters Flood Insurance Reform Act of 2012 was passed late last week as
part of a transportation funding bill and signed into law by the president today. The
legislation extends NFIP authority through September 30, 2017.
That will help bring some stability to the market. For the past five years it has been renewed
every 30 – 180 days, and been allowed to expire more than once. Last time it expired some
42,000 real estate transactions nationwide were impacted during the 30 days it was not in
force. This is a big win for homeowners across the country including many right here in
Southwest California who live in flood or low lying areas.
Last month I also mentioned concerns Realtors® had on the Attorney Generals suite of
housing & lending bills known as the California Homeowners Bill of Rights. Last week the
bills moved swiftly to a floor vote, passed, signed by Jerry and Chaptered by the SoS in just 2
days. Who says they can’t get anything done in Sacramento?
While there are some good elements of the bill, the California Association of Realtors
opposed this measure. Even in its final version we are concerned that it encourages the filing
of lawsuits intended to delay true market recovery and further discourage lending.
The Homeowners Bill of Rights has four major components:
• Prohibiting “dual track” foreclosures that occur when a servicer continues
foreclosure while also reviewing a homeowner’s application for a loan modification;
• Creating a single point of contact for homeowners who are negotiating a loan
modification;
• Expanding notice requirements that must be provided to a borrower before taking
action on a loan modification application or pursuing foreclosure; and
• Allowing injunctions against foreclosure until violations are corrected and
permitting civil penalties against servicers that file multiple, inaccurate mortgage
documents or commit reckless or willful violations of law.
We are hopeful the positives outweigh the negatives of this new law, scheduled to be
implemented January 2013. We’ll continue working with them to make sure NO ONES
property rights are assailed.
We’re all for a healthy housing market.