It’s early 2024, you're sitting pretty with your 2.75% mortgage from a few years ago, locked into one of the lowest rates in history. But times have changed - rates are now over 7% and rising. You need a bigger house for your growing family, but taking on a new mortgage at today's rates could potentially double your monthly payment. What to do? Stay put and make it work, or bite the bullet? It's a...
The real estate market in San Bernardino County continues to evolve and react to economic factors such as mortgage rates, inflation, and a shortage of homes for sale. San Bernardino County has a diverse market that caters to a wide range of buyers and offers various housing options across its many cities, including Fontana, Ontario, Rancho Cucamonga, and San Bernardino.This report will share insights on...
In a well-established area of Redlands, California, in a tree-lined street with a mix of vintage and mid-century homes, the Garcia family began a journey that would redefine their understanding of home and family. Luis and Maria Garcia, both in their late 60s, found themselves opening their doors to their adult son, Miguel, his wife, Isabella, and their two young children, Sophia and Diego. The decision to...
If you've been hearing or reading about the recent shakeup in the Real Estate business, you're not alone. Recent antitrust lawsuits against the National Association of Realtors (NAR) have led to a proposed settlement that could significantly impact how agents are compensated when homes are bought and sold. Understanding the settlement's implications is important for California homebuyers and sellers...
Imagine for a moment, you are house-hunting in the Inland Empire. Every open house feels like a battle with prices soaring and competition intense. Then, you discover the notion of fixer-uppers. Looking past the surface and seeing the potential in a neglected house can be your golden ticket to homeownership. Today, we will view a house buying experience through the eyes of "Alex and Stephanie." Their...
Thinking about what happens to our worldly possessions after we're gone isn't exactly a fun way to spend an afternoon. But, it's also one of those things that's too important to ignore. Let's face it, we all want to make sure our loved ones are taken care of and that our wishes are respected, right? That's where wills and trusts come into play. They're like the unsung heroes of making sure your hard-earned...
Understanding reverse mortgages can be a great asset to maximize homeownership and financial security in retirement. At age 62 or above, homeowners find reverse mortgages, or Home Equity Conversion Mortgages (HECM), as a viable option offering the flexibility to borrow against their home equity without the burden of monthly payments. This financial tool, albeit complex, provides an opportunity to improve...
As we progress into 2024, we are keeping a keen eye on the Inland Empire Real Estate Market for you. In today's update, we are going to cover recent trends in both Real Estate and Mortgage Rates. We know that fluctuating mortgage rates connected to broader economic indicators heavily influence the real estate market. The Inland Empire, known for affordable housing options, is also impacted. Higher mortgage...