Congress just passed an expanded version of the $8,000 first-time home buyer tax credit that was supposed to expire on November 30th. Although the tax credit remains at $8,000 for home buyers that have not owned a home in the last three years, it has been expanded to include a $6,500 tax credit for home buyers that have lived in their current primary residence for at least five consecutive years out of the past eight years. Under the old rules, move-up home buyers did not qualify.
Here is an example of how the new rules about existing homeowners apply:
Todd purchased a home in 2004, and lived there for the past 5 years as his primary home. If Todd decides to buy a new primary residence today, he would qualify for the $6,500 tax credit based on the fact that he lived in the same residence as his primary home for at least five consecutive years out of the last eight.
The tax credit applies to homes purchased for less than $800,000 before May 1, 2010. The purchase contract must be fully agreed upon and signed by May 1st and the transaction must close by June 30th, 2010.
The income limitations have gone up with the new version - for single tax payers previously the income limitation was $75,000 and that was increased to $125,000 under the new rules. For married tax payers, the income limitation went up from $150,000 to $225,000. With the new higher limits, more people will qualify for the credit, especially in areas with higher costs of living.
This is terrific news for buyers in Riverside and Corona and all throughout the Inland Empire. Take advantage of this tax credit as well as very low interest rates and housing prices to buy your first home or move up to a home that better meets your needs.
If you would like to learn more about selling or buying real estate in Riverside or Corona CA, contact me at vicki@pedersen-team.com Click here to visit my website. Written and posted by: Vicki Pedersen, ABR, Pedersen Real Estate, Riverside/Corona, California, DRE# 01435715 -- Phone: 951-840-5212 vicki@pedersen-team.com Be sure to visit my website.
Here is a look at what is happening as of November 4, 2009 in residential real estate in Corona, CA. There are currently 533 active listings for single family homes for sale. The information below is organized by Corona CA zip codes. The average list price of sold homes shows the average price as listed on the multiple listing service and the average sold price shows the average actual sales prices. The average prices of the sold homes for October was $340,233.
| 92879 | Oct 2009 | Sept 2009 | July 2009 |
| Number of houses for sale | 96 | 87 | 90 |
| Number of houses in escrow | 132 | 152 | 137 |
| Number of sold houses | 37 | 57 | 42 |
| Average list price of sold houses | $262,251 | $263,414 | $238,643 |
| Average sold price of houses | $263,989 | $268,586 | $240,112 |
| 92880 | Oct 2009 | Sept 2009 | July 2009 |
| Number of houses for sale | 138 | 136 | 135 |
| Number of houses in escrow | 256 | 258 | 302 |
| Number of sold houses | 96 | 87 | 84 |
| Average list price of sold houses | $338,769 | $347,216 | $344,241 |
| Average sold price of houses | $348,375 | $355,133 | $350,259 |
| 92881 | Oct 2009 | Sept 2009 | July 2009 |
| Number of houses for sale | 70 | 70 | 68 |
| Number of houses in escrow | 114 | 110 | 105 |
| Number of sold houses | 31 | 41 | 46 |
| Average list price of sold houses | $393,342 | $358,329 | $353,114 |
| Average sold price of houses | $402,794 | $365,461 | $353,570 |
| 92882 | Oct 2009 | Sept 2009 | July 2009 |
| Number of houses for sale | 98 | 84 | 100 |
| Number of houses in escrow | 195 | 198 | 187 |
| Number of sold houses | 65 | 76 | 69 |
| Average list price of sold houses | $321,377 | $302,660 | $286,596 |
| Average sold price of houses | $330,994 | $307,682 | $288,884 |
| 92883 | Oct 2009 | Sept 2009 | July 2009 |
| Number of houses for sale | 131 | 137 | 129 |
| Number of houses in escrow | 201 | 197 | 215 |
| Number of sold houses | 61 | 53 | 69 |
| Average list price of sold houses | $349,607 | $339,791 | $325,494 |
| Average sold price of houses | $355,012 | $337,917 | $327,333 |
If you would like to learn more about selling or buying real estate in Corona, CA, you can contact me at vicki@pedersen-team.com Click here to visit my website.
Written and posted by: Vicki Pedersen, ABR, Pedersen Real Estate, Riverside/Corona, California, DRE# 01435715 -- Phone: 951-840-5212 vicki@pedersen-team.com Be sure to visit my website.
Here is a look at what is happening in Riverside CA in residential real estate during the last three months. This includes only single family houses, no condos are included. The number of houses currently for sale and in escrow is as of November 4, 2009. Prices seem to be still moving around quite a bit - four of the eight Riverside CA zip codes had higher sold prices than in September 2009 (or lower prices - depending on how you look at it - the glass is half full or the glass is half empty). The average price for houses that sold in Riverside during October was $205,644.
| 92501 | Oct 2009 | Sept 2009 | Aug 2009 |
| Number of houses for sale | 57 | 52 | 21 |
| Number of houses in escrow | 51 | 60 | 15 |
| Number of sold houses | 26 | 20 | 16 |
| Average list price of solds | $141,977 | $148,880 | $173,450 |
| Average sold price of houses | $140,395 | $152,525 | $172,838 |
| 92503 | Oct 2009 | Sept 2009 | Aug 2009 |
| Number of houses for sale | 210 | 191 | 86 |
| Number of houses in escrow | 264 | 297 | 100 |
| Number of sold houses | 104 | 108 | 116 |
| Average list price of solds | $205.270 | $202,144 | $217,010 |
| Average sold price of houses | $210,037 | $221,637 | $247,951 |
| 92504 | Oct 2009 | Sept 2009 | Aug 2009 |
| Number of houses for sale | 120 |
132 | 145 |
| Number of houses in escrow | 172 | 169 | 166 |
| Number of sold houses | 54 | 64 | 73 |
| Average list price of solds | $197,364 | $178,730 | $187,870 |
| Average sold price of houses | $197,507 | $182,585 | $189,132 |
| 92505 | Oct 2009 | Sept 2009 | Aug 2009 |
| Number of houses for sale | 68 | 71 | 69 |
| Number of houses in escrow | 108 | 113 | 118 |
| Number of sold houses | 43 | 44 | 45 |
| Average list price of sold houses | $164,581 | $168,813 | $195,654 |
| Average sold price of houses | $168,407 | $174,000 | $197,378 |
| 92506 | Oct 2009 | Sept 2009 | Aug 2009 |
| Number of houses for sale | 142 | 128 | 125 |
| Number of houses in escrow | 123 | 126 | 118 |
| Number of sold houses | 52 | 38 | 49 |
| Average list price of solds | $325,597 | $306,686 | $297,175 |
| Average sold price of houses | $309,121 | $305,285 | $291,136 |
| 92507 | Oct 2009 | Sept 2009 | Aug 2009 |
| Number of houses for sale | 74 | 74 | 74 |
| Number of houses in escrow | 61 | 77 | 75 |
| Number of sold houses | 31 | 27 | 36 |
| Average list price of sold houses | $174,575 | $159,304 | $190,874 |
| Average sold price of houses | $172,526 | $160,407 | $191,450 |
| 92508 | Oct 2009 | Sept 2009 | Aug 2009 |
| Number of houses for sale | 92 | 85 | 82 |
| Number of houses in escrow | 105 | 112 | 118 |
| Number of sold houses | 36 | 47 | 43 |
| Average list price of sold houses | $280,592 | $297,081 | $263,019 |
| Average sold price of houses | $278,125 | $304,079 | $261,208 |
| 92509 | Oct 2009 | Sept 2009 | Aug 2009 |
| Number of houses for sale | 146 | 162 | 175 |
| Number of houses in escrow | 197 | 206 | 182 |
| Number of sold houses | 80 | 69 | 76 |
| Average list price of sold houses | $168,724 | $164,489 | $159,462 |
| Average sold price of houses | $169,036 | $168,737 | $161,423 |
If you would like to learn more about selling or buying real estate in Riverside, CA, you can contact me at vicki@pedersen-team.com Click here to visit my website.
Written and posted by: Vicki Pedersen, ABR, Pedersen Real Estate, Riverside/Corona, California, DRE# 01435715 -- Phone: 951-840-5212 vicki@pedersen-team.com Be sure to visit my website.
Here is a list of some of my favorite things to do in Riverside California.
Artswalk
On the first Thursday of every month, 17 locations in downtown Riverside are open to the public from 6 – 9 p.m. Participating institutions host art openings, performances, tours, talks and more. Start at any location. This event is free.
Benedict Castle
Benedict Castle, a Medieval-Spanish structure with strong Moorish influences, was built in two stages between 1921 and 1931 as a luxurious home for Charles W. Benedict. The castle and grounds have been painstakingly restored. The Castle is located at 5445 Chicago Avenue. For more information on booking a tour visit www.benedictcastle.com .
California Citrus State Historic Park
The design of the park is reminiscent of a 1900s city park, complete with an activity center, interpretive structure, amphitheater, picnic area and demonstration groves. The land contained within the park still continues to produce high-quality fruits. The park recaptures the time when “Citrus was King” in California, highlighting the importance of the citrus industry in Southern California. The park is located at 9400 Dufferin Avenue (Van Buren). For more information about the park and special events call (951) 780-6222 ext.13.
Downtown Farmers Market
Every Saturday on Main Street in Riverside between 5th and 6th Streets from 8 a.m. - 1 p.m. vendors offer organic fruits and vegetables, fresh-cut flowers, specialty items such as breads, hummus and homemade honey, fish, cheese and much more! For more information call (951) 826-2370.
Family Fun Days on First Sundays
On the first Sunday of every month October to May, six locations in downtown Riverside are open to the public from 1 – 4 p.m. Participating institutions including the Mission Inn Museum, UCR /California Museum of Photography, UCR /Sweeney Art Gallery, Riverside Metropolitan Museum, Riverside Public Library and Riverside Art Museum, host free hands-on activities for families.
Festival of Lights
The City of Riverside and the Mission Inn present the Annual Riverside Festival
of Lights. This free event kicks-off with the Switchon Ceremony the day after Thanksgiving and runs through early January. Visitors can enjoy outdoor ice skating, carriage rides, free holiday entertainment, unique shopping and dining in the downtown, holiday food and specialty vendors. Free parking weekdays after 5 p.m. and weekends. For more information visit their website.
Heritage House
This 1891 Victorian showplace depicts life in turn-of the century Riverside. An elegant reminder of the affluent homes which once graced Magnolia Avenue. It is open Fridays noon - 3 p.m. and Sat-Sun noon - 3:30 p.m. Closed July and August. Suggested donation of $3 for adults and $1for children and seniors. Heritage House is located at 8193 Magnolia Avenue. For more visit their website.
March Field Air Museum
Located next to the March Air Reserve Base off Interstate 215 at Van Buren Boulevard. The Museum serves as home to over 70 historic aircraft and displays over 2,000 artifacts. The March Field Air Museum commemorates the achievements of our military and civilian aviators; provides educational resources and programs; promotes public awareness of past, present and future air and space technologies; and depicts the history of the March Field Air Base. Open Tuesday – Sunday from 9 a.m. – 4 p.m. Admission is $8 general and $5 for ages 5-11. For more information visit their website at http://www.marchfield.org/.
Mission Inn Tours
Take a 75-minute tour of Riverside's historic Mission Inn on the art, architecture and history of the Mission Inn. This provides an opportunity to see parts of the Inn that are inaccessible to the general public. The regular cost is $12 for adults and senior citizens, children under twelve free with an adult. $1 AAA discount. During Festival of Lights (11/28 to 01/04) the cost is $15 per person. Call the museum at (951)788-9556 during regular business hours for available tour times and reservations.
Mount Rubidoux
Mount Rubidoux is a mountain close to downtown Riverside. There is a hiking trail to the summit. The trails is 3 miles long and climbs in elevation 500 feet. Other than the great views from the top, you can find the Serra Cross in honor of the founder of the mission,Fray Junipero Serra and the Tower of World Peace. Mt. Rubidoux Blvd and 9th street. There is no cost.
Riverside Metropolitan Museum
Located at 3580 Mission Inn Avenue, this is a center for learning as well as a community museum that collects, exhibits and interprets cultural and natural history. The Museum’s collections consist of over 75,000 objects, which include anthropology, natural history and history. The Museum also offers educational programs, workshops, demonstrations and lectures. For more information on current and upcoming exhibitions visit http://www.riversideca.gov/museum/
University of California, Riverside Botanic Gardens
Located at 900 University Avenue in Riverside. 40 acres of botanical gardens containing more than 3,500 plant species from around the world. This wealth of vegetation creates a hospitable sanctuary for wildlife, where nearly 200 bird species have been officially observed. Open daily from 8 a.m. to 5 p.m. Admission is a $1 suggested donation and there is limited parking by the entrance. For more information, visit http://www.gardens.ucr.edu/.
If you would like to learn more about real estate in Riverside CA or are interested in buying or selling a home in Riverside or Corona, contact me at vicki@pedersen-team.com Click here to visit my website.
Written and posted by: Vicki Pedersen, ABR, Pedersen Real Estate, Riverside/Corona, California, DRE# 01435715 -- Phone: 951-840-5212 vicki@pedersen-team.com
Here is a look at what is happening as of October 16, 2009 in residential real estate in Corona, CA. There are currently 508 active listings for single family homes for sale. The information below is organized by Corona CA zip codes. The average list price of sold homes shows the average price as listed on the multiple listing service and the average sold price shows the average actual sales prices. In each of the five zip codes, the prices of houses has gone up - comparing July to September - a good sign that the real estate market in Corona appears to be stabilizing.
| 92879 | Sept 2009 | July 2009 |
| Number of houses for sale | 87 | 90 |
| Number of houses in escrow | 152 | 137 |
| Number of sold houses | 57 | 42 |
| Average list price of sold houses | $263,414 | $238,643 |
| Average sold price of houses | $268,586 | $240,112 |
| 92880 | Sept 2009 | July 2009 |
| Number of houses for sale | 136 | 135 |
| Number of houses in escrow | 258 | 302 |
| Number of sold houses | 87 | 84 |
| Average list price of sold houses | $347,216 | $344,241 |
| Average sold price of houses | $355,133 | $350,259 |
| 92881 | Sept 2009 | July 2009 |
| Number of houses for sale | 70 | 68 |
| Number of houses in escrow | 110 | 105 |
| Number of sold houses | 41 | 46 |
| Average list price of sold houses | $358,329 | $353,114 |
| Average sold price of houses | $365,461 | $353,570 |
| 92882 | Sept 2009 | July 2009 |
| Number of houses for sale | 84 | 100 |
| Number of houses in escrow | 198 | 187 |
| Number of sold houses | 76 | 69 |
| Average list price of sold houses | $302,660 | $286,596 |
| Average sold price of houses | $307,682 | $288,884 |
| 92883 | Sept 2009 | July 2009 |
| Number of houses for sale | 137 | 129 |
| Number of houses in escrow | 197 | 215 |
| Number of sold houses | 53 | 69 |
| Average list price of sold houses | $339,791 | $325,494 |
| Average sold price of houses | $337,917 | $327,333 |
If you would like to learn more about selling or buying real estate in Corona CA, you can contact me at vicki@pedersen-team.com Click here to visit my website.
Written and posted by: Vicki Pedersen, ABR, Pedersen Real Estate, Riverside/Corona, California, DRE# 01435715 -- Phone: 951-840-5212 vicki@pedersen-team.com Be sure to visit my website.
Residential real estate in Riverside, Corona, and Moreno Valley Calilfornia, andl throughout most of the Inland Empire. ABR - Accredited Buyers Representative DRE #01435175
Here's a little bit of information about me...
I am a full time Realtor® and have been for over five years. I work with my husband, Don. We are The Pedersen Team, and we own our own brokerage, Pedersen Real Estate. I love working in real estate and being a Realtor! It is busy, challenging and often all-consuming. I'm totally committed to my clients and being honest with them, dependable and loyal to their needs. I go the extra mile in taking care of my clients and helping make their transactions as stress-free and pleasant as possible. I spend a lot of time with my clients: educating them, counseling them and simply doing whatever needs to be done to help them accomplish their real estate goals. The Pedersen Team motto "Above and beyond" is something I adhere to completely with each and every client. Put my dedication to my clients, professionalism and strong business ethics to work for you.
I am an Accredited Buyers Representative. I specialize in residential real estate for both buyers and sellers. I especially enjoy working with buyers and helping them through the entire process of buying a home.
Don and I have been extremely happily married for 31 years and have an amazing family with three children and four beautiful grandchildren. Our family is the center of our lives. We are proud of our family and are the proud parents of a Marine - ooh-rah! who attends West Point. We have lived in Riverside California for eight years.
The Riverside and Corona area of Southern California is a wonderful place to live. They are both beautiful cities. Riverside is the 12th largest city in California.
Search the entire MLS for not only Riverside, including the surrounding areas: Corona, Moreno Valley, Norco, and all through-out the Inland Empire.
Please browse through our website and make yourself at home. There, you can also request an online valuation of your property-or sign up for free emailed MLS listings. Visit often.
Visit my Riverside CA Real Estate blog.
Photo of the California Citrus State Historical Park, Riverside CA
"My husband and I are very satisfied with the work that Vicki has done as our real estate agent. Vicki was always informative and never pushing or pressuring us to buy a home. She always answered and responded to our needs as soon as possible. Though I am sure Vicki was busy with other clients, she made my husband and I feel important and we felt like she always put us first. Vicki is great at doing counter offers, which helped us to be more confident in getting the home that we really wanted. I will recommend Vicki and Don to family and friends who will be looking for a home. Thanks, Vicki, for all your patience and hard work." May Vang
"The motto of "Above and beyond" is truly the reflection of the Pedersen Team. This goes from the personable to professionalism of handling the business of selling our home in Riverside. I had interviewed 7 agents, all from reputable and large companies. I had many questions especially in a time where selling our house was unfavorable, but our move to Northern CA outweighs a depressed housing market. Vicki Pedersen did her homework - knowledge of my area, first-class brochures and flyers, outstanding web-site showing, plus many more behind the scenes including weekly activity report which I received "heads up" info. I had worked with many agents in the past (had owned 5 homes), Vicki Pedersen just tops them all. Anyone who is planning to sell their home will not be disappointed with the Pedersen Team - integrity, professionalism, knowledgeable - from start to finish" - Roy and Helen Shimizu
"I can't begin to accurately express how much your professional and personal assistance helped us during our relocation. Relocating from afar was stressful and challenging but you eased a lot of that with your competence, outstanding follow-through, and personal touch. You really made the whole process seem easy and as though we had some friends in our new locale that were/are looking out for us. To top it off, you found us a far better home for our family than we would have even thought possible. It was truly a pleasure to work with you and to count you among our new friends in Southern California. Thanks so much!" - Jim and Virginia Bender
"You two have been a blessing since the moment we met you! It was not by chance that we met on that rainy afternoon at an open house. Your professionalism and friendly nature sustained us during a very stressful time. Your marketing and brochures of our former house enables us (and the Good Lord) to sell our house in just days! Thank you for your support, advice and expertise in purchasing our new home. We will always consider you the best realtors we've ever worked with and more importantly, our friends." - Ginger and Steve Olauson
"Dear Don and Vicki, We can't thank you enough for your outstanding support in the marketing and sale of our home. The suggestions you made for enhancing the appearance with small decorator touches and removing some pieces to minimize clutter were right on the money. Your brochures and website were hands down the best, most professional marketing pieces we've ever seen! As a result, we had a serious offer in just two weeks in a softening market. You made sure we were priced right and positioned right for a sale. With all that, you were a delightful couple to work with. Thanks for your advice on counter offers and pushing to see the sale through to a successful close. " - - Glenn and Susan Ferguson
"Vicki, It was a great pleasure to work with you! Bill and I will call you in the future for our real estate needs. You are very kind and generous. It's hard to find a good realtor anymore, but we struck gold with you! " - Bill and April Morris
"How do you sell your house when Ms. Perfect-Home-and-Garden next door along with 12 other homeowners in a 2-mile radius are having for sale signs posted, while the market keeps deteriorating? If you are smart, you hire a team of consummate professioinals who praise the good, point out the less-so, and guide you gently through the improvement process as if you were their only client. Then after less than 30 days, you sign on the dotted line, getting very close to the amount originally asked for and are free to move on. Thank you Don and Vicki! You were a pleasure to work with during a stressful time. I love my new home. And when it, too, needs to be sold I'll be calling you." - Petra Berberich
"The Pedersens went far and above what one might expect of the run of the mill real estate agent. From start to finish, they handled issues as well as my physical property as if it were their own. There was never an issue they didn't solve. The transaction went amazingly smoothly. Don and Vicki are professionals of the highest caliber." - Mary Helen Montjoy
"When we decided to sell our home during a really tough real estate market, we knew we were facing significant challenges and were going to need the best sales team available to help us accomplish our goals. We chose Don and Vicki Pedersen because we were impressed with their knowledge in the general real estate market and, more particularly, with our immediate market. We also felt it would be a great advantage that they worked as a team, which would increase their availability to be directly involved in all important and key aspects of the sales process. Within a very short period of time, we knew we had made the right decision. From staging, to marketing, to weekly market updates, to personally attending showings to prospective buyers, they did everything they said they would do and more. And - our house sold! We are so grateful for Don and Vicki's expert assistance and would recommend them to anyone." - Pam McMahon and T. Lee Fenn
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