Deal of the Week - Portola Hills

If there's one thing we all know by now, it's that we are in a buyer's market. We are taking this opportunity to showcase amazing buys around Orange County, particularly in the Foothill Ranch area, and giving readers a quick look at what it would take financially to own one of these homes.

This beautiful townhome in the private community of Portola Hills is on sale now! Enjoy the sweeping views of the canyon from the upgraded kitchen with stainless steel appliances. Take time to play and relax in the spacious backyard with both grass and tile. At night, put your feet up and relax in front of the custom fireplace and custom flooring.

• Purchase Price: $320,000
• Loan Amount (assuming 20% down payment): $256,000
• Interest rate on a 30-year fixed mortgage (based on current numbers, subject to change): 5.5%
• Monthly payment: $1816.92

If you are paying rent on a similar-sized home, consider the financial benefit of owning your own home and taking advantage of the tax benefits, as well as the intrinsic benefits of owning a your living space.

Many other homes like this one are available in Orange County and we are committed to finding the right loan for our clients' particular situations. Please contact us today

Please note that all figures quoted are for estimation purposes only and do not constitute a loan offer. Numbers are based on good credit standing. In some cases a smaller down payment amount may be available.

Real Estate Rental Property

Ethan Roberts, in an article about real estate rental property at TycoonResearch.com, talks about the Florida real estate market and rental property investing. I appreciate this article because it's not all talk, but has real numerical data to back up the author's statements.

I won't copy his charts, so go to the article to see them. But, the data presented shows that, while home sales have been falling steadily over the last two years, rentals on the MLS have been doing just the opposite. Knowing that only a fraction of all rentals actually move through a Multiple Listing Service, we can assume those numbers are far greater over the entire market. Let's see:

• Fewer homes are selling, so fewer homeowners
• More homes are renting, so more rental demand
• Home prices are falling, with foreclosure and short sale opportunities

Should I Refinance My Rental Property

Q. After I relocated to California nearly 4 years ago I refinanced my house in Colorado in anticipation of selling it the following year once my entire family had moved out west. I tried to sell the house for over a year and ended up making it a rental. Now my home in Colorado has been a rental for over 2 years. I went to my current mortgage lender and tried to refinance but the rate they were offering for the investment property is high. I was wondering if there was a way for me to reduce my monthly payments on that mortgage. My salary is $125,000 and my FICO is 750 but I feel like I’m locked into this bad loan with no possibility of refinancing. Any suggestions?

A. It was recently estimated that nearly 20% of homes in America are underwater and that number is much higher in markets where selling is even more difficult. The problem with your property has to do with the fact that it’s a non-owner occupied property. Fannie Mae and Freddie Mac add 1.75 points as a pricing hit to loans on properties such as yours and that applies to all lenders. This rule alone will probably make the cost of refinancing out-weight the benefits. On a positive note the COF index is 2.003 meaning that your interest rate should be in the mid 4% range. Hang in there this economic situation will not last forever.

Featured OPEN HOUSE

545 East Eleventh Street, Berwick

Beautiful brick ranch home, custom designed, large living room with fireplace, dining area, kitchen, 3 bedrooms, office, 1 & 1/2 + 1/4 bathrooms, spacious enclosed back porch, .744 acre corner lot, mature landscaping.
$215,000

Directions: From Rt. 11, turn onto Fowler Avenue, continue to East 11th Street, home at corner of Fowler Ave. & East 11th St.

Buy or Sell real estate

Answers for all your Real Estate Needs:

The Dream Home You Have Always Waited For: Whatever your real estate needs happen to be, I have no doubt that I can help you. Whether you are a first time home buyer just getting into the market or a seasoned investor purchasing multi-million dollar properties, you can count on an honest, professional no “non-sense” approach from me. I will guide you step by step through the often confusing and intimidating real estate arena.

The Best Real Estate Markets en Mexico

The Best Real Estate Markets en Mexico?

Real estate investment in Mexico. mexico.vg considered each region based on affordability, cultural and natural attractions, infrastructure, economy, proximity to U.S. and a number of other factors contributing to overall appeal to tourists, retirees and, therefore, investors.

The Best Mexican Real Estate Markets are:

1. Loreto, Baja California Sur
2. Merida, Yucatan
3. Guadalajara, Jalisco
4. Puerto Vallarta, Jalisco
5. Oaxaca, Oaxaca

There are many myths about purchasing real estate in Mexico, and the process can be complicated and risky. Many investors never even reach that point, as the challenge of finding a suitable location often proves too difficult. This works to the advantage of savvy and tenacious investors who can navigate the process successfully. As demand increases for Latin American and Mexican real estate, more investors should take advantage of the deals out there while they exist, which is why NuWire published this list. Each region’s market has its own unique qualities, attractions and drawbacks. Interested investors can use one or more of these cities as starting points or as destinations when seeking the location most appropriate for them.