Yesterday was a very rewarding day ...

I had the pleasure of accompanying 11 of my associates from the office out to Oasis School in Thermal. For the past 6-7 years we have been supporting 3 of the 4 Fourth Grade classes plus the Special Ed Class at various times of the year. At the start of the year, we augment their learning capabilities by providing much needed school supplies to get them off on the right start. At summer, we provide books for summer reading and other items for health and fun; however, at Christmas, our direction changes and we like to surprise them with little things to brighten their day plus a new soccer ball for each student. That was our goal today and while we accomplished it, we all came away with so much more given to us than we gave. There is no substitute for true feelings and the spirit of giving. While we brought them gifts ... we came away with such a sense of Christmas spirit that we all spoke of for the remainder of the afternoon. The wonderful welcome they give their "Fairy GodMothers and GodFathers" as they call us is enough to get your spirit going; then the thoughtful looks as a Christmas story is being told; followed by pure joy in their eyes as the little gift bags are distributed; and then the broad grins as the soccer balls are passed out ... Truly the wonder of Christmas before our eyes ... and all of this before the cookies and juice boxes are distributed ( a true wonder in today's age)... Some re-wrapped toys in the tissue paper to give to family, some spoke of taking the cookies home to share and one boy asked us to not only put his name on his soccer ball but to add his brother's name ... All of this is true confirmation for me that Christmas is alive and well here in America and worldwide ... Santa Lives :)

Mortgage Insurance Premiums deductible on 2014 Taxes

Fantastic news for borrowers with Mortgage Insurance as a requirement for loan approval when they bought their homes ... Read it here and should you have any questions or comments, I am available by response here, email, text or phone: Roger A. Sullivan 760-610-3245 Roger@RogerASullivan.com Read the news here: http://www.nationalmortgagenews.com/news/regulation/senate-passes-tax-bill-that-includes-key-mortgage-deductions-1043384-1.html

Short Sale Update

We have been holding our breath for so long wondering what would be happening here in California ... If you have any questions after you read the news here ... Call me. text me, or email me ... I am here to help ... Well - Here it is HOT OFF THE PRESS ... http://www.nationalmortgagenews.com/news/regulation/senate-passes-tax-bill-that-includes-key-mortgage-deductions-1043384-1.html Roger A. Sullivan 760-610-3245 Roger@ShortSaleSully.com http:ShortSaleSully.com

Interest rates in 2015 and 2016

Has the Grinch struck or is it just the end of a good thing ... Interest rates have been so attractive and truly fed the system on the long crawl out of the financial cellar. Check the comments from Lawrence Yun, Chief Economist and Senior Vice President of Research at the NATIONAL ASSOCIATION OF REALTORS®. Remember, the one with the most information usually wins so put this in your arsenal and be as prepared as possible ... http://realtormag.realtor.org/news-and-commentary/economy/article/2014/11/life-doesnt-rise-or-fall-interest-rates

Let's be careful out there ...

It has come to my attention that auto burglaries and break-ins are on the rise. This doesn't coincide with schools being back in session however it does make sense that certain nefarious characters need shopping money for the holidays, drugs, alcohol, etc. At least one of the unfortunate auto owners had kept their mailbox key in the car for convenience and that was taken as well. Outside of the extra effort required with the Post Office, plus the expense, it's highly possible that some mail might have been removed from their box. This unfortunate situation is a great reminder for all of us to keep and eye on our property AND our neighbor's property. If you see someone acting suspiciously, you can: a) call your neighbor; b) hit the alarm button on your car if parked outside to get some attention; c) *carefully* walk out front and let them see you noticing them; d) taking down any license # or physical description; e) call the non-emergency number of (760) 836-3215 ext 5; and f) if it appears to be a more dire situation, of course 911 Remember that it doesn't need to appear to be a suspicious individual ... many times, these people pose as pool guys, landscapers, air conditioning repairmen and anything else that might not attract attention ... so if you don't recognize that so called vendor you've probably seen next door or across the street 100 times, it's likely to be a problem waiting to happen ... Whatever you do, be careful ... your safety is first and foremost ..."

CVWD Water Restrictions

If you haven't heard the news, here's what the District is imposing to help the severe drought situation we are facing: Water restrictions adopted by the Coachella Valley Water District 1. Irrigate lawns and other landscaping only after sunset and before 10 a.m., except when "overseeding" or doing maintenance. 2. Use CVWD drought watering guide to irrigate: www.cvwd.org/conservation/wateringguide.php. 3. Repair broken sprinklers within 24 hours of being notified. 4. Do not wash down driveways, sidewalks or other hard exterior surfaces. 5. Wash vehicles and windows only if using a hose with a shutoff nozzle. 6. Prevent runoff onto a neighbor's property or sidewalks or roads. 7. Fountains or other water features must recirculate water. 8. Restaurants should serve water to customers only upon request. 9. Hotels are being asked to place messages in guest rooms promoting water conservation. More information: http://www.cvwd.org/news/news246.php As always, Keep the faith !!!

Student Loan affecting First Time Buyers ...

The following is an interesting article from First Tuesday relating to the troubles of the First Time home Buyer with Student Loans and other debt affecting their qualification for a home loan to complete the American Dream ... As the average age of first-time home buyers continues to rise in California, you may be wondering two things: why; and how long will this delay persist? To address the first question, does the delay have to do with Generation Y’s (those born in the 1980s and 1990s) different views on homeownership? Or is this extended adolescence a symptom of today’s agonizingly slow jobs recovery? This dynamic actually all began several years ago, when a generation of young, blossoming students were accepted into college and optimistically signed their student loan promissory notes — and the next decade or two of their lives away. Student debt reached a new high in 2013, surpassing over a trillion dollars owed in the U.S. alone. This is three times the collective amount owed just ten years ago. Further, student debt now exceeds credit card and auto debt. The average student graduated in 2013 with around $30,000 in student loan debt to repay, with most graduates on ten-year repayment plans. Why does this matter to real estate agents? A homebuyer needs some form of down payment and an acceptable debt-to-income (DTI) ratio in order to qualify for a mortgage. Being on the hook for student debt hinders both of these requirements. Take for example an individual who currently rents, but would like to become a first-time homeowner. They have pre-established monthly debt payments of: student loan payments totaling $600; a $300 car payment; and $100 in other debt. This makes a total of $1,000 in established monthly debt. If their monthly income is $5,000 (a generous estimate for a recent graduate), their current DTI ratio is 20%. Despite their burdensome debt load, say this individual is able to save for a down payment and apply for a Federal Housing Administration (FHA) loan requiring a minimum 3.5% down payment. At their stated DTI, this sample first-time buyer can qualify for a monthly housing payment (including mortgage insurance premiums and homeowner’s insurance) of $1,150, if they stretch their DTI to the maximum-allowed 43%. In this situation, the potential first-time homebuyer qualifies for an FHA loan of just under $180,000. However, home prices are well beyond this amount in most of California (particularly following 2013’s speculator frenzy and ensuing home price bubble). So this renter’s options are as follows: buy a tiny condo in an undesirable location today; or wait approximately 10 years for their student loan debt to be paid off so they can purchase the home they desire near their employment. How long is this first-time homebuyer drought likely to last? Federal student loans generally take approximately ten years to pay off, though they can be deferred even longer. However, student loan debt continues to rise each year as both college tuition and the percentage of those attending college increases. Thus, the first-time homebuyer of the future will have a little more gray in their hair and a little less money in their savings accounts before they take the plunge (if they ever do at all). Agents and brokers can prepare accordingly by adjusting their FARM strategies for the long-term. Think of planting today’s seed for tomorrow’s harvest. After all, those who are renting today’s will eventually have the financial capacity to become tomorrow’s homebuyers, though that tomorrow may be further off than previously thought.