For Sale! 857 S Loretta St Rialto CA 92376 By Celina Vazquez

For Sale!!!

857 S Loretta Street

Rialto, CA

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2 BEDROOMS | 1 Baths (1 full ) BATHROOMS | 994 SqFt

For Sale!

857 S Loretta St

Rialto, CA 92376

2 Bedrooms

1 Bath

2 Car Garage

994 SqFt

3,520 Sq Ft Lot

Built 1984

This gorgeous single story home in The Pepper Ridge Community of Rialto features 2 bedrooms, 1 bath and 2-car garage with direct access. A great floor plan that is light & bright throughout. Fully renovated kitchen with granite counters, stainless steel appliances, 4-burner stove and microwave, multi-cycle dishwasher and plenty of cabinetry for all your pots and pans.  Gleaming hardwood and tile floors throughout. Spacious master bedroom with hardwood floors and crown molding.  Gorgeous backyard with a beautiful patio and built wet-bar.

This property is very close to shopping centers, schools, and parks. Jehue Middle School and Rialto High School are the designated schools of the area.

For more information about this property contact Celina Vazquez @909-697-0823.

For more information or private view please contact

www.celinavazquezrealtor.com

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Showing Agent:

Celina Vazquez

Realtor
Celina Vazquez Broker
909-697-0823
Licensed In: CA
License #: 01736989

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The Difference Between a Pre-Qualification vs. Pre- Approval

The Difference Between a Pre-Qualification vs. Pre- Approval

There is plenty of real estate terms used in transactions. Needless-to-say it can be confusing

for both buyers and sellers trying to navigate the process. The home loan process might feel

overwhelming and difficult to understand. Both buyers and sellers find terms like “Pre-

Qualification” and “Pre-Approval” used interchangeably, it’s no wonder they find themselves

wondering how to proceed.

Pre-Qualification

The first step in obtaining a home loan is to meet with a lender and discussing their financial

situation. The lender will discuss income, job stability, debt and credit. Once they have

performed a basic review of the qualifications and run credit, they will issue a Pre-Qualification

Letter to the potential buyer. This letter will identify the maximum sales price, down payment

requirement and basic terms of the loan, such as interest rate.

The Pre-Qualification letter is used to provide evidence that the buyer has been reviewed by a

lender who is vouching for their ability to obtain a loan.

Pre-Approval

A Pre-Approval is quite different. In this case, the lender collects all the necessary information

and proof of eligibility and has it reviewed by the lender underwriter for approval. A Pre-

Approval letter is almost like shopping with cash, the only remaining piece of the puzzle is the

property they are buying. 

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10769 Champagne Rd Rancho Cucamonga Rented in Just 1 Day

10769 Champagne Rd Rancho Cucamonga Rented in Just 1 Day

10769 Champagne Rd Rancho Cucamonga Rented in Just 1 Day 

Rented!

In Just 1 Day!!!

10769 Champagne Rd

Rancho Cucamonga, CA 91739

Celina Vazquez Broker Realtor of #RealtyMasters & Associates #RanchokCucamonga presents this gorgeous two-story family residence located in North Rancho Cucamonga. This beautiful home features 4 bedrooms, 2.5 bathrooms and 2 car garage with direct access.
With 1,922 Square Feet of living space on a 6,230 Square Feet lot this beautiful home offers everything that you are looking for. Fully remodeled top to bottom this house features a large kitchen with open concept to the family room. All new kitchen counters, new cabinets and new stainless steel appliances. New hardwood, tile and carpet floors throughout. All new plumbing and electrical fixtures and all new paint.
#LosOsosHighSchool, Vineyard Junior High and Banyan Elementary School are the designated schools for this area. The 210 freeway is just minutes away from in. For a private showing contact Celina Vazquez 909-697-0823 or email at celina@celinavazquezrealtor.com

Tax Return Depressing? Owning a Home Could Help

Tax Return Depressing? Owning a Home Could Help - Many Americans got some depressing news last week; either their tax return was not as large as they had hoped or, in some cases, they were told they owed additional money to either the Federal or State government or both. One way to save on taxes is to own your own home.

According to the Tax Policy Center’s Briefing Book -“A citizen's guide to the fascinating (though often complex) elements of the federal Tax System” - there are several tax advantages to homeownership.

Here are four items, and a quote on each, from the Briefing Book:

1. Mortgage Interest Deduction

“Homeowners who itemize deductions may reduce their taxable income by deducting any interest paid on a home mortgage. The deduction is limited to interest paid on up to $1 million of debt incurred to purchase or substantially rehabilitate a home. Homeowners also may deduct interest paid on up to $100,000 of home equity debt, regardless of how they use the borrowed funds. Taxpayers who do not own their home have no comparable ability to deduct interest paid on debt incurred to purchase goods and services.”

2. Property Tax Deduction

“Homeowners who itemize deductions may also reduce their taxable income by deducting property taxes they pay on their homes.”

3. Imputed Rent

“Buying a home is an investment, part of the returns from which is the opportunity to live in the home rent-free. Unlike returns from other investments, the return on homeownership—what economists call “imputed rent”—is excluded from taxable income. In contrast, landlords must count as income the rent they receive, and renters may not deduct the rent they pay. A homeowner is effectively both landlord and renter, but the tax code treats homeowners the same as renters while ignoring their simultaneous role as their own landlords.”

4. Profits from Home Sales

“Taxpayers who sell assets must generally pay capital gains tax on any profits made on the sale. But homeowners may exclude from taxable income up to $250,000 ($500,000 for joint filers) of capital gains on the sale of their home if they satisfy certain criteria: they must have maintained the home as their principal residence in two out of the preceding five years, and they generally may not have claimed the capital gains exclusion for the sale of another home during the previous two years.”

Bottom Line

We are not suggesting that you purchase a house just to save on your taxes. However, if you have been on the fence as to whether 2017 is the year you should become a homeowner, this information might help with that decision.

Disclaimer: Always check with your accountant to find out what tax advantages apply to you in your area. 

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Millionaire to Millennials: Buy Now!

Millionaire to Millennials: Buy Now! - Self-made millionaire David Bach was quoted in a CNBC article explaining that "the single biggest mistake millennials are making" is not purchasing a https://celinavazquezrealtor.com/renting-buying-paying-mortgage/home because buying real estate is "an escalator to wealth.”

Bach went on to explain:

"If millennials don't buy a home, their chances of actually having any wealth in this country are little to none. The average homeowner to this day is 38 times wealthier than a renter."

In his bestselling book, “The Automatic Millionaire,” Bach does the math:

"As a renter, you can easily spend half a million dollars or more on rent over the years ($1,500 a month for 30 years comes to $540,000), and in the end wind up just where you started — owning nothing. Or you can buy a house and spend the same amount paying down a mortgage, and in the end wind up owning your own home free and clear!"

Who is David Bach?

Bach is a self-made millionaire who has written nine consecutive New York Times bestsellers. His book, “The Automatic Millionaire,” spent 31 weeks on the New York Times bestseller list. He is one of the only business authors in history to have four books simultaneously on the New York Times, Wall Street Journal, BusinessWeek and USA Today bestseller lists.

He has been a contributor to NBC’s Today Show appearing more than 100 times, has been a regular on ABC, CBS, Fox, CNBC, CNN, Yahoo, The View, and PBS, and has been profiled in many major publications, including The New York Times, BusinessWeek, USA Today, People, Reader’s Digest, Time, Financial Times, The Washington Post, The Wall Street Journal, Working Woman, Glamour, Family Circle, Redbook, Huffington Post, Business Insider, Investors’ Business Daily, and Forbes.

Bottom Line

Whenever a well-respected millionaire gives investment advice, people usually clamor to hear it. This millionaire gave simple advice – if you don’t yet live in your own home, go buy one.

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A Tale of Two Markets: Inventory Mismatch Paints a More Detailed Picture

A Tale of Two Markets: Inventory Mismatch Paints a More Detailed Picture - The inventory of existing homes for sale in today’s market was recently reported to be at a 3.6-month supply according to the National Association of Realtors latest Existing Home Sales Report. Inventory is now 7.1% lower than this time last year, marking the 20th consecutive month of year-over-year drops.

Historically, inventory must reach a 6-month supply for a normal market where home prices appreciate with inflation. Anything less than a 6-month supply is a sellers’ market, where the demand for houses outpaces supply and prices go up.

As you can see from the chart below, the United States has been in a sellers’ market since August 2012, but last month’s numbers reached a new low.

Recently Trulia revealed that not only is there a shortage of homes on the market in general, but the homes that are available for sale are not meeting the needs of the buyers that are searching.

Homes are generally bucketed into three groups by price range: starter, trade-up, and premium.

Trulia’s market mismatch score measures the search interest of buyers against the category of homes that are available on the market. For example: “if 60% of buyers are searching for starter homes but only 40% of listings are starter homes, [the] market mismatch score for starter homes would be 20.”

The results of their latest analysis are detailed in the chart below.

Nationally, buyers are searching for starter and trade-up homes and are coming up short with the listings available, leading to a highly competitive seller’s market in these categories. Ninety-two of the top 100 metros have a shortage in trade-up inventory.

Premium homebuyers have the best chance of less competition and a surplus of listings in their price range with an 11-point surplus, leading to more of a buyer’s market.

“It leaves Americans who are in the market for a home increasingly chasing too fewer options in lower price ranges, and sellers of premium homes more likely to be left waiting longer for a buyer.”

 Lawrence Yun, NAR’s Chief Economist doesn’t see an end to this coming any time soon: 

“Competition is likely to heat up even more heading into the spring for house hunters looking for homes in the lower- and mid-market price range.”

Bottom Line

Real estate is local. If you are thinking about buying OR selling this spring, let’s get together to discuss the exact market conditions in your area.

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For More Info Please Call 909-697-0823

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www.celinavazquezrealtor.com