Chino Hills Homeowners Cheered by U.S. Foreclosure Trend

If you are one of those Chino Hills homeowners who has been gladdened to see property values continuing to rebound, you have also been pleased at the steady decline in the wave of foreclosures that were part of the global financial crisis. When the subprime mortgage crisis triggered widespread financial dislocation, many homeowners felt the repercussions. Every Chino Hills foreclosure that resulted weighed on neighborhood property values, which reflect the dollar amounts paid when nearby homes change hands.

Even most people whose livelihoods were unaffected—who kept their jobs or businesses and continued to make their mortgage payments without difficulty—could have suffered as a result. When the apparent equity of a home dwindled, so too was the amount lenders were willing to lend for refinancing. The comfort provided by fat home equity lines of credit (the HELOCs) suddenly melted when their maximums were cut, or even withdrawn altogether. HELOCs, after all, were a major component in the foreclosure phenomenon. The whole atmosphere caused confidence to be shaken.

But ‘buy low, sell high’ is a proven investment strategy—and ‘buying low’ is an opportunity that typically arises when fear is in the air. Many large institutional investment outfits looked at the situation and apparently asked themselves, what’s more “real” than real estate? They dived into the panic, buying up distressed residences in droves, paying rock-bottom foreclosure prices.

For many homeowners, though, the real effect was psychological. After all, when your major asset is your home, any Chino Hills foreclosure can be seen as having the effect of bringing your apparent net worth down.

RealtyTrac is the national scorekeeper for foreclosures and REOs (Real Estate Owned, or bank repossessions); and last month they continued to provide comforting news. Although there are ups and downs in the month-to-month stats, the overall trend continues to decline from the high in September 2013. In fact, there was a small uptick in REOs in August, which might seem like bad news; but REOs are actually completed foreclosures—at the same time, foreclosure starts continued their long slide downward.

Daren Blomquist of RealtyTrac was quoted with more good news, confirming that “the overall increase in foreclosure activity in April is a continuation of the clean-up phase” of the housing crisis. But even better was this: “Foreclosure starts nationwide are now running consistently below pre-crisis levels.”

It does seem as if this season is a choice time for sellers to enter the revived market. If you would like to explore the possibilities for your own property, or are ready to start the search for a Chino Hills home of your own, please do give me a call!

This blog post was written by Chris Weilacker and Vivienne Ma top Chino Hills Real Estate Agents you can also check out their reviews at their Chino real estate agent yelp page.

The Best Tax Write-Offs For Property Owners

Summary: You can enjoy a great deal of monetary returns as a property owner by getting tax write-offs from your property investment. Utilize the benefits of it.

As property owners, there are several benefits that you can enjoy in terms of monetary returns. You might be interested in renting out your property instead of keeping it idle. After all, renting is one of the best ways of getting constant capital in terms of rents. Along with a potential for income, the chances of capital appreciation are also high. Moreover, you can also be assured of the fact that such investments will reduce deductions and reduce the income tax on the profits you earn. Therefore, you can continue enjoying the income from your property for years to come.

Understanding The Tax Code Rules On Properties:

There are many rules in the US tax code by means of which you can expect to get tax write-offs as a property owner. After all, you will get the opportunity to save your money and reduce taxes to a great extent. However, there are some important issues that you will have to remember in this context. The first thing that you need to know is what qualifies as an expense.


  • The current expenses are the ones that help your property keep in good condition and well-maintained so that it is habitable. You can deduct the entire expense from the tax. These expenses must also have a short-term value and must be directly related to your rental activity.
  • On the other hand, the capital expenses refer to anything that increase the value of the property and enhance the life. These expenses must be capitalized and depreciated over multiple years.
  • Before claiming any of the deductions, you should have thorough records because the IRL scrutinizes these deductions.
  • The largest source of deductible expense is the loan mortgage.
  • There are three types of costs that you can capitalize and depreciate. Ranging from the value of the structure, the value of improvements and the equipment are part of the same. However, these expenses cannot be deducted in a single year, and should be spread out over multiple years.
  • Maintenance costs are often confused with repairs. You can hire a pest company to treat the property after few months. You can include these as part of tax deductions.

Considering Other Factors:

There are plenty of other factors that play a great role in ensuring that you have the best tax write-offs and save your money in the entire process. Talking to experts or realtors in this field will help you get appropriate ideas, and you will not have any difficulty in dealing with the entire process. The rental income, the tenant paid expenses, the security deposits, trade for services, etc. are some of the important factors that will help in ensuring that you are thoroughly well informed regarding the same. As a result, you can make the necessary moves and the most appropriate investments in terms of properties. Even if, you are among the newest property owners, the biggest tax break will be reflected in the house payment that you make each month. Hence, nothing is better than this in this context.

Should I Hire A Company To Take Care Of HOA Property Management?

Summary: Managing a home owners association is not a joke because there are several things that have to be considered. Therefore, it is best to hire professionals for HOA property management.

You have a house, but you stay far away from the location. Even if, you have rented your house, it is important to make sure that your home is in a good condition. As a homeowner, you do not want to compromise with the quality of maintenance and management. It is because of this reason that you will have to be part of the home owners’ association. Regardless the nature and size of your home, the association will comprise of other home owners, as well. Being a part of this association, you can discuss the various requirements for the uplifting your home from time to time.

Evaluating The Management Companies:

Most homeowners often wonder whether they require professional management for the association. However, in short, it can be said that it is wise to go for HOA property management with the help of professionals. In fact, there are many companies that offer services and make sure that the needs of the members of the association are looked after in the best ways.


  • The association may hire the companies to manage the everyday operations of the community. In this context, it is wise to evaluate several managers before finalizing any one of them.
  • The HOA governing body oversees the management company of the property so as to consider all the requirements. Moreover, the company must also be state licensed with competitive edge over the non-licensed ones.
  • As part of the association, you will have to pay fees to the management companies for maintaining common areas, checking out the safety equipment, landscaping, scheduling HOA meetings, providing security and even maintaining the finance of the association.
  • The management should coordinate and pay the service providers accordingly. The finance is collected in terms of monthly fees from the homeowners.
  • Managing HOA is different from single family homes or residential units. Hence, the managers should excel at communication and interpersonal relationships. They also have the authority to make decisions unlike tenants.
  • The management must also be well-versed in handling group politics and negotiating different agreements among different homeowners with conflicting viewpoints.

Carrying Out General Administrative Tasks:

The HOA property management company will be responsible for managing wide varieties of administrative tasks, as well. Right from filing paperwork and checking out to see if individuals and their properties are in compliance, they have to consider wide varieties of requirements in this context. They are also responsible for collecting dues. Professionals can also best manage the relationship with the residents. When you look forward to managing on your own, there are chances of misunderstanding that you do not want at any cost. Look for a reliable and efficient company that has a history of offering good service for different associations of home owners. If you are successful in finding such companies, you can be assured that you will not have to take any hassle or responsibility. They will not only create good relationship among the members, but also keep you updated about any changes or introduction of new things. Hence, you can benefit from it.

The Best Property Managers In The Inland Empire, CA

Owning a property can be difficult, especially if you don’t live in the area or if you are busy with your own work. Needless to say, though, you certainly aren’t in the business of letting your property deteriorate and diminish in value, because at the end of the day it is going to cost you. Rather than struggle and try to find a way to do many things at ones, you can simply hire a property management service. It’s easy to find property managers in the Inland Empire, CA. The bad news: many of them aren’t very good. The good news: there are ways to differentiate the best from the mediocre so that you can get the quality service that you deserve.

Ask Around

Before you take any other steps, it is always useful to ask around. It is highly likely that your friends and family – or someone in their extended circles – will know someone who has a property manager or who works in the real estate field. When you ask around, you can get personal input on what to look for when hiring a property manager, what qualities in a property manager are important, and most importantly – which services you should stay away from. When it comes to getting personal opinions, you should prioritize those who have actually worked in the industry recently. In that case, you aren’t relying solely on outdated or second-hand information.

S5Look Online

Another alternative is to look online. This is a very good option if you are able to differentiate between quality reviews and reviews that are posted by the company. When you look online, you should also make it a habit to crosscheck the online posts to make sure that it isn’t the same individual (usually working for the company being praised) writing rave reviews. Lastly, don’t forget to also browse forums. Forums can be useful because they give you an idea of what people and those who have hired property management services have to say about a certain company.

Visit the Establishment

Finally, the last step that you should take after you find a proper service is to actually visit the establishment. When you visit the property management service, you are able to gauge whether or not the service fits your needs by conducting lengthy interviews with the company’s principals. In addition, pay attention to the organization of the office and whether the staff are friendly; if they’re not pleasant to you, they probably won’t be pleasant to your tenants, either.

Best Places For Advertising Rental Properties In 2015

Summary: There are various ways you can follow for advertising rental properties. These are the best ways of attracting the potential tenants into your property.

Your rental property is all set to get tenants. You will have to give thorough importance to the process of finding tenants because it is the rent collected from the tenants that will create a constant source of cash flow. Regardless the fact that there are large numbers of tenants looking for suitable homes, it is also true that the vacant homes have increased. Different landlords are making the best efforts to ensure that they attract prospective tenants and create a good deal with the same. You should also stay abreast with the competition, and make sure that you do your part in order to attract the prospective tenants.

Attracting Prospective Tenants:

One of the most effective ways of attracting prospective tenants is by thoroughly advertising rental properties. Unless you place an ad, your tenants will not become aware of the availability of properties and the fact that they can also become a part of the same. Here are few of the most effective and prominent ways by means of which you can advertise for your rented property.


  • Using a rent for sign in the yard or window of the property. It is not only a cost-efficient procedure, but also the best way to advertise your property. Potential renters will see the building when they pass through it and will get in touch with you.
  • You can also make use of a flyer to notify the local residents and also the residents of the neighboring areas about the availability of the property for rent. There are several places where you can place the flyer to spread information and message on the same.
  • The word of mouth is also often the best source of advertisement. You can ask your friends, family, and neighbors to spread the word of vacancy. Moreover, you can also ask your current tenants regarding vacancy and encourage them to tell their friends and colleagues.
  • Placing an ad in the newspaper is the most traditional way of placing an ad. It is still one of the most common procedures followed for advertising any property.
  • On the other hand, the internet is a great platform that helps in attracting the potential tenants in an easy and effective way.
  • High end rentals might have to follow additional and aggressive methods. They can advertise through magazines, property management companies or a real estate agency.

Including Several Details:

Large numbers of details need to be included while advertising rental properties. The contact information is the primary thing that you should include in the ad. Apart from that, you should also mention the size of the property, the specifications and location of the property. Moreover, advertisements should accurately reflect the condition of the property. It is better to avoid ads that contain discriminatory requirements like gender, race, religion or family status. These are some of the most prominent ways through which you can place your ad and can be assured about the availability of tenants easily. Consequently, you can look forward to making great deals in terms of the rent.

Can I Make A Living Renting Out Houses?

Summary: In order to earn a good living, you can always consider renting out houses because it will generate constant source of cash flow through the rents from tenants.

You are either unemployed or retired and you do not have sufficient source of income. However, if you have properties, they are undoubtedly valuable assets that you can utilize for a source of living. Yes, if the need arises, you can always rent your home and attractive prospective tenants to get them rented. Consequently, you can look forward to earning rents that will again be a source of your cash flow. Nothing is better than this. In fact, you will be happy to know that there is a huge demand for rental properties in the recent years. Therefore, if you have one, you can make use of the same to earn a living.

Generating Income With The Property:

As a landlord, you have chances of generating income from your rental property. If you are lucky, you can also end up making a positive cash flow after meeting all the necessary expenses associated with your property. Therefore, it is often said that renting out houses is one of the most feasible options for earning a solid cash flow.

  • Place your ads effectively so that you are successful in attracting potential tenants to your property.
  • Try to be a good landlord so that you are successful in finding good quality tenants. There is no denying that the quality tenants play a crucial role in the sense that you can expect to get regular rents from them.
  • Good tenants will also adhere to your demand that you set before renting out your property. If the need arises, they might even enter into a long term contract with you. As a result, you can be free from worries regarding the regular source of income that you will obtain from the rent.
  • Do not overlook the issue of repairs and maintenance. These are some of the crucial things that will keep your tenants impressed, and they will prefer staying in your property. In the course of time, they will also be ready to increase the rent that will benefit you a lot.
  • Explore all the possible ways by means of which you can quickly increase your chances of getting more rents from the property. It will help you become wealthy, and you will not have to bother about your source of living.

Look After The Condition Of The Property:

Before renting out houses, make sure that you look after the condition of your property. Do not overlook the need for any kinds of repairs or replacements in the process that might tend to disappoint your tenants. There are several people that make a living out of renting their homes. It is a great source of tax free income, and you can also be a part of the same group. If you have multiple properties, you can make greater efforts in renting all these properties and generating different amount of tents from different sources. As a result, it will help you, as a whole. Therefore, if you have not yet thought of renting, it is time to make a move and rent your home.

A Quick Guide To Eviction Laws For Property Managers

Summary: You should be thoroughly well acquainted with the entire process of eviction laws because you can take the most appropriate actions on the basis of that.

Landlords and property managers have to stay updated with different laws and rules so that they can take the necessary moves and actions, as per the needs. Not all are quality tenants. In fact, there are tenants that refuse to pay rents on time regardless of constant warnings. On the other hand, some tenants might destroy the properties of the landlord bringing great loss. Under these circumstances, most landlords and property managers prefer evicting the tenants out of the homes and breathe a sigh of relief. However, the process is not as easy as it seems. There are several rules and laws that need to be followed in this context.


Following Legal Proceedings:

It is crucial to note that you cannot evict any tenant without stopping the tenancy legally. In this context, you will have to follow the eviction laws, as specified by the state. You will have to give written notice to your tenant and specify the statute of state’s termination. However, when the tenant refuses to move or does not move under any other circumstances, you are entitled to file a lawsuit so that you can evict your tenants. Eviction seems hard, but it is the business of the rental properties. Here are some guidelines that you can follow in the process. There are different types of notices for termination that you can give to your tenants.

  • Pay the rent or quick notices are applied when the tenants fail to give the rent.
  • Quit or cure notices are issued when a tenant disagrees a term of the rental agreement. Making noise or keeping pets might be violated and you can send a notice. You will have to set a time period within which the violation can be corrected. However, a tenant that does not do it will have to face eviction lawsuit.
  • Unconditional quit notices are the other types. They are the most aggressive of all evictions. When a tenant violates any serious terms and conditions and there is no chance of correcting a lease, you can order the tenant to vacate the premises.
  • You might even give a notice of 30 day to 60 day notice to vacate the land when the tenant did not do anything wrong. However, there are many cities that do not allow this form of eviction today.

Taking Careful Steps:

Regardless the reasons for eviction, you should take proper and careful steps, as per the eviction laws. Know these laws while writing the lease agreement so that both parties are well aware of the existence of a document with authority in it. In fact, the best idea is to write lease agreements with the help of lawyers because they are well aware of the laws of your state. As a result, it will be easy for you and your property manager to maintain complete legal procedures and avoid any confusion or hassle in the future. If you are unsure about anything, it is wise to spend some time researching your current situation so that you can make your move in the best way.

Are Inland Empire Property Prices Stable?

Summary: If you keep an eye of the Inland Empire property prices, and know about the stable market, it will be easy for you to make an investment accordingly.

It is the dream of many to buy homes or invest in real estate properties in Inland Empire. After all, it is the best place to invest and live. However, buying home is never an easy process. Many of those seeking to buy properties cannot compete with the prices missing out the upside of the real estate crash. There are large numbers of homes available for sale in Inland Empire. However, even today, many are afraid of considering investment in this region because of the prices. If you are interested, but are afraid of the high prices, it is wise on your part to keep a check on the market rates from time to time.


Thriving Real Estate Market:

Lately, the real estate market condition of the Inland Empire has been thriving. In the recent months, the real estate markets have had sales activities and rising prices. Check out the effective condition of the Inland Empire property prices so that it is easy for you finalize a decision. If you check out the latest trends and conditions for housing market in this area and the neighboring areas, you will get lots of ideas regarding the same.

  • Home sales have risen to 3740 from 3520 with an annual gain of over 6.3%.
  • Housing markets in the surrounding areas like San Bernardino County have also experienced a rise in sales though slightly lower.
  • The gains are partially the result of home buyers renting the market.
  • It is true that home prices have risen every year by 26.2%. However, it is expected that the housing market is now stable condition making the ideal time for investors to invest on them.
  • It is also expected that the inventory declines have slowed in some parts of California and has affected the housing market in Inland Empire.
  • The total numbers of sales in Inland Empire rose by 37% from one year to another.

Making The Right Move:

It is true that the Inland Empire property prices are not completely yet affordable. However, you will be happy to know that the market has become lot more stable than it was in the previous years. It is the ideal time to invest in properties because in some time the prices will not rise. However, that does not mean that you will have to experience any loss. This is because you can easily estimate that the prices will go up in the years to come. If you consider buying now and selling it in the future, you will definitely get higher prices. However, some housing analysts are afraid that the new rules could restrict mortgage lending that is tight by historical standards. It is wise on your part to be totally thorough about the rules and regulations before investing in any properties in Inland Empire. Consequently, you can offer it for rent and also earn a good return on your investment. Banks and financial institutions are also ready to lend money in order to control the stability of the market, as a whole.