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Good Monday Morning
And some of us Realtors have a combined expertise of Mortgage financing as well as Real estate sales.

Here's to better rates this week.

Have a great week

Giving back continues | yourgroupofcompanies.com

Here's a fun share and an especially fun part of our life here at work.
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yourgroupofcompanies.com Today we are happy to be able to give back by way of helping sponsor, Christian Dominic Torres, age 10, at this season’s Pop Warner Football. He’s a great kid who enjoys family time, sports, math and plays a little X-Box in his free time. He’s already a superb athlete having played for the league o...

Good morning,

Sure these are all great for the economy, however, for the buyer's who can't afford higher prices, I'm sure it's a disappointment. Also, with this boost interest rates have been increasing.

Every time the economy appears to be doing well especially in the job market the interest rates rise. This week, begins week two of daily price increases to the rates. With that, I've got some clients who might lose out on their streamline refinance if they don't come back down. It's a double edge sword I suppose.

Please share if you know of someone who might find this enlightening to their housing desires.

Tina Soriano

Consumer confidence at 5-year high

Today interest rates are still on the rise. The bond is up!
As it appears the economy is picking up, the job market up, the housing market up, so goes the interest rates. See the link for the reports from CNN Money's report.

On a personal note........
The housing market's increase in prices and sales is due greatly to an inflow of cash purchases from foreign investors.

I've seen homes in areas where, simply because they have the money they are over bidding in cash, over bidding by $50,000. I hope the appraisers take this into account. While it is good for the seller's, it is unfair for the eager, deserving, qualified for financing in today's world of finance, buyer's. Very disappointing too to out bid time and time again. By holding onto their inventory, it would appear the banks are slowly but surely gain more money for their distressed sales and now with the interest rates on the rise they'll be gaining more money for their financed homes. Seems perhaps a master plan.....

That's my real talk for the day! Hope you find it enlightening.
I'd love to hear your opinions.



http://money.cnn.com/2013/05/28/news/consumer-confidence/index.html?iid=HP_River

money.cnn.com Consumer confidence surged to a five-year high in May, fueled by increased optimism about an improving job market.

Memorial day is a day of remembrance and honor to the very brave soldiers who fought for our freedoms. Thank you today and forever grateful.

Having an Open House today at 8922 E. Fairview in San Gabriel, Come on by. 11:00 -2:00. Have a great day!

At last a list price for 8922 E. Fairview Ave in San Gabriel. 3 beds 2 baths. Bank owned, they priced at $504,000. Open house this Saturday from 11:00 to 2:00.

So true!! For example, the property I spoke to you about in my previous videos, the Bank Owned one that went into the Veterans donation program, it's now coming up available anytime. Our initial determination of value was $380,000. Now we are giving it a value of $400,000. This is due to a shortage of inventory and is in a desired area. Message me if you are interested in it.

Bringing value for anyone who's selling their home as a sale by owner these tips on how to avoid some legal issues should be reviewed and acted upon in all cases that might concern your sale.
Did you realize there were so many concerns?
Have a great day!

Bad news for FHA home buyers and refinance candidates.
On April 1st 2013 (NO JOKE) Mortgage insurance premiums are rising again. Currently the monthly payment is calculated at a 1.25 for 95% and above financing and 1.20 for under. The new rate will be 1.35 and 1.30. The icing on the cake.... no longer will that monthly payment drop off after 5 years. Beginning June 1st it will drop off after 11 years for under 90% loan to value and over that won't! You would have to refinance into a conventional product.
Should you or someone you know be contemplating a Streamline refinance or home purchase you would need to get your case to April 1st. Pass it on if you feel someone needs to know.
Thank you

If you are a prospective buyer or an investor this will serve as great news for you. This extension of FHA's 90 day flip rule means FHA buyer's will continue to have a great opportunity offering to purchase these fabulously rehabbed homes and the deserving investor's labored efforts are rewarded as such saving them money. Read more on the link below.

http://yourgroupofcompanies.com/market-update/great-news-for-investors-and-buyers

Any investors/rehab experts? I have an approved short sale ready to go. Message me should you be interested. Thank you!

How do these payments look to you? Seem affordable? Today's FHA 30 year fixed rate was 3.125%, Today's conventional 30 year fixed was 3.25%. Those are some seriously low rates. Pre-qualifying to buy is very simple. I'd love to help you or your friends, family buy their first home. Results are what we work very hard to achieve, for all.

What chapters are you working on? Plan on Sharing your Passion?
All you need is you and your Dreams! A-Z Results ~ Truth!

http://www.realtoractioncenter.com/docs/homepage/2013-NAR-Issue-Brief-Fiscal-Cliff-Real-Estate-Provi

Through much efforts on behalf of Realtors, through the National Association of Realtors, Congress has listened and passed a measure to avoid the “Fiscal Cliff” while keeping the real estate recovery on track. For more information on how this might or might not affect you all click the link below to view the details.

http://www.realtoractioncenter.com/docs/homepage/2013-NAR-Issue-Brief-Fiscal-Cliff-Real-Estate-Provisions-0102-1232.pdf

realtoractioncenter.com

UPDATE to my previous post! It's been extended. Courtesy of California Association of Realtors details below.

Mortgage Debt Forgiveness extended

Late last night, Congress reached a settlement in the “fiscal cliff” negotiations. As a result, the Mortgage Forgiveness Debt Relief Act has been extended for another year. The measure will continue to exempt from taxation mortgage debt that is forgiven when homeowners and their mortgage lenders negotiate a short sale, loan modification (including any principal reduction) or foreclosure.

C.A.R. would like to thank the 26,296 California REALTORS® who sent messages to their members of Congress and made 1,862 calls in response to C.A.R.’s Call-for-Action.

Also under the agreement, so called “Pease Limitations” that reduce the value of itemized deductions are permanently repealed for most taxpayers but will be reinstituted for high income filers. These limitations will only apply to individuals earning more than $250,000 and joint filers earning above $300,000. The thresholds have been increased and are indexed for inflation so will rise over time. Under the formula, filers gradually lose the value of their total itemized deductions up to a total of a 20% reduction.

The reinstitution of these limits has far less impact on the mortgage interest deduction (MID) than a hard dollar deduction cap, percentage deduction cap, or reduction of the amount of MID that can be claimed.

Capital gains rates on the sale of principal residences will remain unchanged and continues to exclude the first $250,000 for single taxpayers and $500,000 for married couples

I Hope this helps!!

Good morning,

In case you are wondering, haven't heard as of yet, the Mortgage Debt Relief Act has expired as of December 31st 2012. But wait... There's talk of it being extended very soon as well as it being retroactive.

Regardless, chances are for a vast majority with or without this act you won't be responsible to pay taxes on this debt. Les Christie at CNNmoney.com sheds light on who may or may not incur taxes on this released debt.

“Even if Congress allowed the mortgage debt forgiveness to expire, not all borrowers who lose their home to foreclosure, sell their home in a short sale or have their principal reduced will take a tax hit. If the debt is discharged in a bankruptcy, no tax is due. And anyone who is insolvent — meaning they have more debt than assets — at the time the debt was forgiven would not have to pay the tax. And in some states like California, certain borrowers are protected against paying the tax because of the way the state treats foreclosures.”
To determine where you might fare in this situation it is best to contact your CPA.

For assistance in the sale of your home in this manner, or quite possibly a short refinance I'm always available to give you advice that will help you make an informed decision that is best for you.
Happy New Year!

What are your thoughts on this chart?
I agree with it. Not saying you can't have the same values, experiences and behavior types without it but home ownership brings a greater sense of self because it is an achievement worthy of deep satisfaction.

With the new year fast approaching what are your plans for your Real Estate goals? It's still a great time to buy, rates are still low making home buying affordable. Do you have any plans to buy in the New Year?

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