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Victorville, CA Real Estate News

By KAREN SANCHEZ, ...Marketing your home like no one else will.
( Reputable Realty)
13531 Mica Rd, Victorville 92395. BOM! BAM!Someone's loose is your gain!  It's back on the market.  Welcome to your dream commuter-friendly abode! Nestled conveniently between the 15 and Hwy 395, this recently remodeled gem boasts 4 bedrooms, including a downstairs suite with a half bath—ideal for guests or a home office. Step into a refreshed ambiance with freshly painted walls and new carpeting throughout. Indulge your culinary senses in the remodeled kitchen featuring brand-new cabinets, hardware, and light fixtures, while the upgraded baths offer a touch of luxury. Experience the ease of living with low-maintenance front landscaping that eliminates the hassle of mowing, while the spacious backyard beckons with endless possibilities—imagine the potential for an ADU (buyer to verify w...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
If you don't have an estate plan in place, don't worry...the IRS has one for you. But you may not like it, so it's always a good idea to get your finances in order and avoid incurring tax penalties and hefty estate taxes. Knowing the value of your estate and becoming familiar with several exemptions and tax benefits can help you hand your assets over to your loved ones...without handing a portion of your hard earned assets over to Uncle Sam. Some good news-the new Federal estate tax exclusion increased in 2006 to $2 million per person. In the past ten years, that amount has increased over 230 percent, as the figure is up from $600,000 in 1996. Count on this tax exclusion figure to remain in effect until 2009, then the amount is scheduled to increase one more time to $3,500,000 per perso...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
The federal government's Private Mortgage Insurance legislation is great news for the Real Estate Industry! Enacted on January 1st, 2007, the bill makes Private Mortgage Insurance tax deductible for potential borrowers whose personal adjusted gross income is less than $100,000. For millions of home buyers, the bill creates an amazing opportunity to finance a more expensive home or potentially obtain a lower payment for the same-priced home, while reducing annual income taxes by hundreds of dollars.What is PMI?Designed to protect lenders from defaults and foreclosures, Private Mortgage Insurance is required for loans exceeding 80% of the property's value or sales price. Prior to the new legislation, PMI was generally viewed with contempt by homebuyers because of its perceived high cost a...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
But we're not talking about the latest top 40 hit by Mariah Carey!!It's the FED.  The Federal Reserve Board has hiked rates seventeen consecutive times over the past two plus years...and while they've paused in their hiking cycle for the time being, the hits they've given to rates have added up fast.   While an ARM (Adjustable Rate Mortgage) or Home Equity Line of Credit may have saved you a bundle over the past several years of low interest rates - times have changed, and it's likely time to give your whole financial picture a once over and see if any adjustments are needed.  In many cases, it doesn't make sense to change a thing - but wouldn't you sleep better at night knowing that?  And whether or not you have an ARM or a Home Equity Line, we'd like to offer you a complimentary consu...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
In today's world, a college education is more important than ever. Many of the jobs that do not require a college degree have been outsourced to workers in other countries, or replaced by a computer or machine. In addition, according to Fed Chairman Ben Bernanke, the income disparity between college grads and non-grads is growing every year. In 1979, college grads earned 38% more than those with only a high school diploma. But today, college grads earn 75% more than those without degrees!The Cost of Higher EducationLet's face it: college is expensive. And with the cost inflating approximately 5% annually, the cost will only rise. The type of college your child attends can also have a big effect on the cost too. For example, just one year of tuition, room and board at an average private ...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
If you're thinking about taking out a home improvement loan, there are several options to consider. First and foremost, your mortgage professional needs to know why you want a home improvement loan. Here are some factors to take into consideration.•·  How long have you been in the home?•·  Will the improvements increase the property value? •·  Are you making improvements to increase energy efficiency?•·  Will improvements be made in one fell swoop, or in stages?•·  What is the current outstanding balance on your mortgage?•·  What is the appraised value of the home?•·  How much will the improvements cost?•·  What improvements will be tax deductible?•·  Do you have other revolving debt that you would like to pay off at the same time?•·  Are you making improvements because you plan to sell...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
It's all over the news. Subprime mortgage companies are in the midst of a true crisis! According to The New York Times, over two dozen lenders have already closed their doors for good. In fact, more than half of the top 25 mortgage companies from 2006 have either reported serious losses, been sold off to other companies, or have filed for bankruptcy! When asked how many subprime lenders will be taken down by the current credit crunch, Bill Dallas, mortgage industry icon and former CEO of Ownit Mortgage Solutions, replied "all of them." When asked how many borrowers would be impacted by tightening credit standards, Dallas estimated anywhere from 10% to 40%, adding, "the coming shift in available products will be huge." This could negatively impact anyone seeking financing in the next 12 ...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
When a marriage ends in divorce, the lives of those involved are changed forever. During this time of upheaval, one thing that shouldn't have to change is the credit status you've worked so hard to achieve.Unfortunately, for many, the experience is the exact opposite. Unfulfilled promises to pay bills, the maxing out of credit cards, and a total breakdown in communication frequently lead to the annihilation of at least one spouse's credit. Depending upon how finances are structured, it can sometimes have a negative impact on both parties.The good news is it doesn't have to be this way. By taking a proactive approach and creating a specific plan to maintain one's credit status, anyone can ensure that "starting over" doesn't have to mean rebuilding credit.The first step for anyone going t...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
With interest rates still near 40-year lows, is a 30- year, fixed-rate mortgage the right choice? While the mass media's response is usually yes, my reply is NO. Today's market is much different than the market and lifestyle of the previous generation. That generation typically had one job, one pension, one house and one mortgage. That lifestyle no longer holds true today. Pension plans seem to be a thing of the past unless you are employed in the airline industry and many of the public services agencies. Most Americans will hold five or more jobs throughout their careers. As far as houses and mortgages, the average family remains in a house for only seven years and the average mortgage lasts only four years. Even if you found your dream house and never plan on moving, a 30-year, fixed-...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
The mortgage planning process is different than the typical "shopping for a mortgage" experience. The mortgage planning relationship is not about you: Wasting your valuable time trying to save $25/month by comparing rates, fees and closing costs among different lenders. Wasting your valuable time trying to baby-sit the mortgage company you've reluctantly chosen to work with. Being promised one thing and then getting something different at closing. Being "sold" on one mortgage product over another. The mortgage planning relationship is about you: Receiving valuable financial advice and guidance that can literally save you hundreds of thousands of dollars. Trusting a professional who is committed, qualified and equipped to deliver what they promise. Experiencing a "concierge" level of ser...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
Finding a mortgage that's right for you should be easy. There are literally hundreds of options to choose from, including Fixed Rate, Adjustable Rate, Hybrids, Interest Only, Monthly Option ARMs, and Pay Select Mortgages, to name just a few. Mortgages are available at rates ranging from an introductory rate of 1.00% to well over 10.00%. You can finance up to 100% of your home's value and, in some cases, your closing costs as well.However, because there are so many options available, it's important to seek advice from an experienced mortgage professional who has your best interest at heart. The first step in determining which program is right for you is to ask yourself the important questions listed below. These questions can also help you confirm that you've chosen the right mortgage pr...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
Did you know that the major credit bureaus sell your personal information? It's true! Known as "trigger leads", the files of borrowers applying for a home loan are immediately flagged, packaged, and sold by the credit bureaus to the highest bidders. For about $25 to $100 or more, your name and certain specifics about your credit report, including your address, phone number, mortgage history, and even your FICO score range, are sold to unscrupulous mortgage companies which then blindly solicit your business. This results in numerous unwanted phone calls and junk mail offers which are in no way associated with your real estate agent or loan professional.Unfortunately, no legislation presently exists to prevent the credit bureaus from profiting at your expense. As a trigger lead, you are s...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
Points are up-front fees paid by the borrower to obtain a better interest rate on a loan. One point equals one percent of the loan amount. And while a lower interest rate may result in a lower monthly payment, it is important to consider how long you intend to be in the loan and to compare current interest rates to historical market trends. This will help you to determine whether paying points is a worthwhile investment. Let's look at a sample scenario. If you take out a $300,000 mortgage and decide to pay one point in order to lower your interest rate, this would translate into an up-front cost of $3,000. To keep things simple, we'll assume that paying this one point will save you $50 a month. This means it will take you 60 months to recoup the cost of that point. If you decide to refi...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
Since its inception, the Internet has caused a fair share of controversy. Some people see it as a valuable tool while others consider it the devil's playground. Wherever you stand, one thing is certain - it has changed our idea of commerce forever.eBay® is a perfect example. On this website, the economic theory of supply and demand is played out on a daily basis as consumers bid against each other to purchase an array of products. In many cases, items once thought to be rare collectibles are now readily available from a variety of sellers. This is good news for buyers, who are able to obtain these items at lower prices. Sellers, on the other hand, are finding themselves with a lower profit margin than they originally anticipated.The eBay principle can be applied to other websites as wel...
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By Val Rensink
(HomeSource Lamoreaux Group)
Where do people go to talk about real estate in an open atmosphere where you feel carefree and not pressured? Well, just perhaps, at the Diamond Anniversary Celebration of the San Bernardino County Fair.  60 years in the making and still drawing crowds and headliner's. According to the new promotional company TMG Communications this will be a very revved up event-one you don't want to miss. I have attended the fair for the past few years, because I have worked on a Dairy/Corn-Soybean Farm in Iowa and we went to the state fair. I go for good memories and to make some more. I love to take my family. You know it ends up being kind of a family tradition.But this one is more, I was invited along with 300 other high desert community leaders to attend the First Annual Region Wide Business netw...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
When a bank, mortgage company or credit union approves your home equity line of credit (HELOC), it doesn't give you a check. Instead, you get a checkbook; sometimes you receive a debit card too. You can write checks as you normally would (or use the card), except that each use is really a loan against your HELOC's credit limit.You can use the HELOC to pay for any expense or purchase, and the bank will start to charge you interest as soon as the card is used or the check is cashed. Although the bank will insist on a minimum monthly payment, you are free to repay the loan in full at any time - and after you do, you're free to borrow again through continued use of the checks and card. In this sense, the HELOC is similar to a revolving line of credit or credit card. All told, HELOCs are con...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
The Internet has revolutionized the way we live in countless ways. We are able to access news as it's happening, email friends and relatives all over the world, and purchase anything from cars to vacation packages with a few clicks of the mouse.What's ironic is that we frequently neglect to use this amazing resource when it comes to finding things in our local area. That's where GoogleTM, the world's leading search engine, comes in. Google has produced a search tool, called Google Local, which you can use to locate anything from an Italian restaurant or golf course to a dentist or CPA, all within a few miles of your home!To access Google Local, you may go there directly (www.local.google.com) or you can click on the "Local" link at the top of the page at www.google.com. Once there, spec...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
1. Pre-qualification - Lenders are encouraging buyers to get pre-qualified for a mortgage so they'll know in advance how much house they can afford.2. Loan Search - Although buyers often use a lender recommended by their Real Estate agent, some prefer to do their own comparisons.3. The Hunt - The buyer begins shopping for a house. When the right one is found, the terms of the sale are negotiated, including the sale price and often the type and conditions of the loan being sought.4. Loan Application - It's crucial to supply the lender with as much information as possible, as accurately as possible. All outstanding debts as well as assets and income should be included.5. Documentation - Paperwork supporting the application must also be submitted. Information commonly sought includes pay s...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
The U.S. economy, interest rates, and the housing market are frequent topics on the nightly news. Viewers are told about leading economic indicators, how the stock market has performed, and whether the Federal Reserve is planning on changing interest rates. What isn't explained is how these items are interrelated and how they may impact which home loan is best for you.The Federal Reserve attempts to keep the U.S. economy healthy through its use of monetary policy. As fears of inflation increase, the Fed will raise certain short-term interest rates such as the federal funds rate, which is the interest rate banks pay each other for overnight loans. Such an increase causes a ripple effect, with banks raising their prime lending rate. This, in turn, causes an increase in Adjustable Rate Mor...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
Interpreting one of the main challenges of today's mortgage market isn't as difficult as it might seem. With interest rates on the rise, a lot of consumers are extremely troubled by the negative effects of increasing interest rates on their Adjustable Rate Mortgages. Each month, they are forced to watch hopelessly as their monthly payments increase and interest rates climb closer and closer to the lifetime caps of their loans. For these homeowners who are struggling, refinancing into a 30-year fixed rate mortgage may not help them right now. In fact, doing so could increase their monthly payment and further strain their finances.So, what's the solution for homeowners who are stuck with an ARM they don't want or can no longer afford? And, what can real estate agents, builders, and other ...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
Does this scenario sound familiar? Your latest credit card statement comes in the mail, and there's an error. You know that it needs to be dealt with, but for some reason you keep putting it off. Then it hits you. The reason for your procrastination is that you just cannot bear the thought of calling "customer service". Just the idea of facing a telephone maze of pressing buttons and repeating personal information over and over again to a computer is so daunting, so loathsome, you actually consider just paying the charge.The good news is your days of wallowing through the Dante's Inferno of customer service phone systems are over. Thanks to a computer programmer/blogger named Paul English, you can now talk to a real human being in a fraction of the time. You see, Paul and his Internet f...
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