Nation’s Largest Living Generation

This year, according to Richard Fry at the Pew Research Center, the “Millennial” generation is projected to surpass the outsized Baby Boom generation as the nation's largest living generation, according to the population projections released by the U.S. Census Bureau last month. Millennials (whom we define as between ages 18 to 34 in 2015) are projected to number 75.3 million, surpassing the projected 74.9 million Boomers (ages 51 to 69). The Gen X population (ages 35 to 50 in 2015) is projected to outnumber the Boomers by 2028.

New changes seem afoot:

The LA Times recently wrote, “Statistical measures and anecdotal reports suggest that young couples and singles in their late 20s and early 30s have begun making a belated entry into the home-buying market, pushed by mortgage rates in the mid-3% range, government efforts to ease credit requirements and deep frustrations at having to pay rising rents without creating equity.

Hadley Malcolm at USA Today wrote, “2015 may prove to be the year of homeownership for millions of Millennials. Real estate website Zillow predicts Millennials will overcome Gen X as the largest group of home buyers this year — more than half of 18- to 34-year-olds said they plan to buy a house in the next one to five years.”

This might surprise many, but millennials are good at saving and investing in themselves. Fifty-six percent of 18- to 34-year-olds saved at least 5 percent of their income in 2014, an increase of 6 percent, reports Bloomberg Business. Improving savings rates mean millennials are paying themselves first. It also helps that they’re generally pretty thrifty, preferring to keep their money rather than spend it.

“Millennials tend to plan their purchases and shop for value online,” said David P. Sims, certified public accountant (CPA) and managing member of RidgeHaven Capital LLC. “This may be a result of necessity, as incomes remained stagnant over the past few years, especially for entry-level professionals.”

Melissa Dittmann Tracey, REALTOR® Magazine wrote something surprising. She said, “Millennials may be willing to sacrifice extra square footage in a home and even features like an outdoor kitchens or two-story foyer. But there’s one thing they say they aren’t willing to sacrifice in a new home: A separate laundry room.”

“Fifty-five percent said they wouldn’t buy a new home that didn’t have a separate laundry room. They also ranked storage as important, such as linen closets, a walk-in pantry, and garage storage.”

It could be a very good time to be real estate investors, if millennials are truly coming to market. Just remember in your marketing to stress that your house has a separate laundry room.

Red Hill Real Estate Solutions, LLC. is here to help homeowners out of any kind of distressed situation.  As investors, we are in business to make a modest profit on any deal, however we can help homeowners out of just about any situation, no matter what!  There are no fees, upfront costs, commissions, or anything else.  Just the simple honest truth about your home and how we can help you sell it fast to resolve any situation.

Give us a call today at 951-356-5440 to let us know what YOU need help with!

Short Sale in Montebello

BY MIKE LANDFAIR

The housing crisis left many homeowners owning a home in Montebello making payments on a house that wasn’t worth the original buying price. Faced with the possibility of foreclosure, a short sale in Montebello is an alternative. A short sale in Montebello occurs when the bank accepts an offer on your home that is less than what is owed on the mortgage.

For example, let’s say you owe $300,000 on your home, and the market value is $250,000. Our short sale in Montebello agent team lists the property for sale, and receives an offer of $250,000. The name short sale comes from the fact that we are “shorting” the bank $50,000. In doing so, your lender will “forgive” the debt and allow you to move on with your life.

Why would a bank do that? A typical foreclosure will cost the bank anywhere from $15,000-$30,000 in legal fees, maintenance costs, utilities, etc. With a short sale in Montebello, there is no out of pocket cash and instead the bank receives money, and they don’t have to own the property and maintain it.

The two most popular questions:

What about the deficiency? Will the bank come after me?

In many states, the lender can seek a personal judgment against you after the short sale to recover the deficiency amount. Generally, once the lender gets a deficiency judgment, it may collect this amount (in our example, $50,000) from the borrower by doing such things as garnishing your wages or levying your bank account.

A few states, however, do prohibit deficiencies after short sale, such as California.

When negotiating with your lender for approval of your short sale, ask the lender to waive its right to seek a deficiency judgment. If your lender agrees, this provision must be included in the short sale agreement. The agreement must expressly state that the transaction is in full satisfaction of the debt and/or that the lender waives its right to the deficiency.

If your lender refuses to waive the deficiency, you can offer to settle the deficiency for a smaller amount.

What are the tax consequences of debt forgiveness? There may be tax consequences on the debt that is forgiven. The IRS treats debt forgiveness as income, however if the discharge was directly related to a decline in your home’s value or your financial condition, you may be ok. Only a tax professional can answer specific questions.

The number one goal of the professional you use to execute a short sale in Montebello is to do everything in their power to make sure the homeowner is absolved of any potential deficiency issues. Find a professional that has an attorney and a CPA on their team to help not only with deficiency issues, but tax consequences as well.

Red Hill Real Estate Solutions, LLC. is here to help homeowners out of any kind of distressed situation. As investors, we are in business to make a modest profit on any deal, however we can help homeowners out of just about any situation, no matter what! There are no fees, up front costs, commissions, or anything else. Just the simple honest truth about your home and how we can help you sell it fast to resolve any situation.

Give us a call today at 951-356-5440 to let us know what YOU need help with!

Ron Calderon, Red Hill Real Estate Solutions, LLC., investments, short sales, REO, distressed, foreclosures, loan, loan solutions, sell house quickly, East LA

Short Sale in Montebello

The housing crisis left many homeowners owning a home in Montebello making payments on a house that wasn’t worth the original buying price. Faced with the possibility of foreclosure, a short sale in Montebello is an alternative. A short sale in Montebello occurs when the bank accepts an offer on your home that is less than what is owed on the mortgage.

For example, let’s say you owe $300,000 on your home, and the market value is $250,000. Our short sale in Montebello agent team lists the property for sale, and receives an offer of $250,000. The name short sale comes from the fact that we are “shorting” the bank $50,000. In doing so, your lender will “forgive” the debt and allow you to move on with your life.

Why would a bank do that? 

A typical foreclosure will cost the bank anywhere from $15,000-$30,000 in legal fees, maintenance costs, utilities, etc. With a short sale in Montebello, there is no out of pocket cash and instead the bank receives money, and they don’t have to own the property and maintain it.

The two most popular questions:

What about the deficiency? Will the bank come after me?

In many states, the lender can seek a personal judgment against you after the short sale to recover the deficiency amount. Generally, once the lender gets a deficiency judgment, it may collect this amount (in our example, $50,000) from the borrower by doing such things as garnishing your wages or levying your bank account.

A few states, however, do prohibit deficiencies after short sale, such as California.

When negotiating with your lender for approval of your short sale, ask the lender to waive its right to seek a deficiency judgment. If your lender agrees, this provision must be included in the short sale agreement. The agreement must expressly state that the transaction is in full satisfaction of the debt and/or that the lender waives its right to the deficiency.

If your lender refuses to waive the deficiency, you can offer to settle the deficiency for a smaller amount.

What are the tax consequences of debt forgiveness? There may be tax consequences on the debt that is forgiven. The IRS treats debt forgiveness as income, however if the discharge was directly related to a decline in your home's value or your financial condition, you may be ok. Only a tax professional can answer specific questions.

The number one goal of the professional you use to execute a short sale in Montebello is to do everything in their power to make sure the homeowner is absolved of any potential deficiency issues. Find a professional that has an attorney and a CPA on their team to help not only with deficiency issues, but tax consequences as well.

Red Hill Real Estate Solutions, LLC. is here to help homeowners out of any kind of distressed situation.  As investors, we are in business to make a modest profit on any deal, however we can help homeowners out of just about any situation, no matter what!  There are no fees, up front costs, commissions, or anything else.  Just the simple honest truth about your home and how we can help you sell it fast to resolve any situation.

Give us a call today at 951-356-5440 to let us know what YOU need help with!

Ron Calderon, Red Hill Real Estate Solutions, LLC., investments, short sales, REO, distressed, foreclosures, loan, loan solutions, sell house quickly, East LA, 

Selling a House As Is

Selling a house as is may be the only way you can move on, but you are worried that it won’t sell quickly. You also worry that a roof needing replacement or a basement that has been leaking or the dry rot where the outside wood mouldings touch the concrete porch will turn buyers off.

You could fix those items if you only had the money. What to do, what to do!

You could call Red Hill Real Estate Solutions, LLC.  We buy “as is” houses. You don’t need an inspector to go through your house, telling you what items to fix before you can sell. You don’t have to reduce your sale price by the cost of the repairs pointed out by the inspector. There are no realtor commissions of 5 to 6% to pay out of your proceeds. In fact, there are no fees whatsoever. There are no open houses to live through and no fears that something goes wrong when it’s time to close and you lose the buyer.

There is a better way!

Try calling a real estate investor. It is quick! You can sell your house fast in Montebello normally in 30 days or less. That is much quicker than a traditional sale, which can take several months even if there are no major items that need to be repaired before closing. In most cases when an investor and a seller can agree on a price immediately, they can close as quickly as one to two weeks.

You could call Red Hill Real Estate Solutions, LLC if you are living in a city outside Montebello when you inherit a house in Montebello. It is awfully hard to take care of business and see your family in one city and deal with an inherited property in another. Selling a house as is may be the easiest way to resolve the situation. We can visit the house note any repairs that need to be made, appraise any changes that need to be made to bring the property up to code or make it more marketable.

As investors, we are in business to make a modest profit on any deal. We will figure what the market is for your house at its best, subtract the cost of renovation and our profit and make you an all cash offer. We will answer any questions about how we arrived at our price and you can accept or reject our offer. There is no obligation

You could call Red Hill Real Estate Solutions, LLC when selling a house as is may be the quickest way of finalizing a divorce and moving on quickly. Or you and your spouse could call us, if you want to downsize quickly and buy a smaller house in some exotic location.

Red Hill Real Estate Solutions, LLC. is part of a nationwide group of thousands of investors who are helping tens of thousands of homeowners every year.  We may not be the “traditional” route, but we CAN help and we can do it quickly.

Give us a call today at 951-356-5440 to let us know what YOU need help with!

Cash for Houses

Yes, we buy “as is” houses. And, we pay cash for houses. One couple called us that owned a house they wanted to sell quickly. They invited us to take a look at their house.

How does our process work? Red Hill Real Estate Solutions, LLC knows your neighborhood and the house prices. We did a walk-through of their house, noted any deficiencies, and figured out what it would cost to fix those items and at what price we could sell the refurbished house.We noted that the house needed some work such as garage instead of a car port and a renovated kitchen. Today’s buyers want granite counters, double sinks, dishwasher, stainless appliances, modern lighting, and modern cabinets. The couple didn’t have the money for those things, yet wanted to sell fast. They also needed a new roof.

We explained how we calculate the profit we need on our investment and offered them a price for their house.

We did say, "with us, you don’t have to make adjustments to the sale price for the cost of the repairs pointed out by the inspector". We pointed out that there are no realtor commissions of 5 to 6% to pay out of their proceeds. In fact, there are no fees whatsoever. There are no open houses to live through and no fears that something goes wrong when it’s time to close and that could lose the buyer.

Isn’t that what you want? To sell your home fast? We have cash for houses.

You want a clean sale. You want a fair offer and you want to know how we arrived at our offer. Then you want to cash out as quickly as you can, so you can pursue your new life style.

There are many reasons to want cash for houses. They include the Four Ds.

Debt

Stressful as they can be, financial challenges are the main motives why people tend to quickly sell their homes. If you have too much debt and are facing a possible foreclosure or even bankruptcy, you may have a desire to resolve the situation so your credit rating doesn’t suffer more.

Divorce

It is particularly stressful to go through divorce. Once the property division is settled, you want to sell quickly and get on with your lives.

Death in the family

When families are dispersed it is hard to take care of the family home from another city, and travel is expensive. We can help. We can make a cash offer for the house, even while in probate.

Downsizing

The house is just too big for the two of you, now that the kids are gone. You decide that you need something smaller. Maybe, you have the travel bug and don’t want to worry about the big house in the States. We can pay cash for houses and you can be on your way to a smaller house or the Amalfi Coast of Italy.

Red Hill Real Estate Solutions, LLC. is part of a nationwide group of thousands of investors who are helping tens of thousands of homeowners every year. We may not be the “traditional” route, but we CAN help and we can do it quickly

Give us a call today at 951-356-5440 to let us know what YOU need help with!

Ron Calderon, Red Hill Real Estate Solutions, LLC., investments, short sales, REO, distressed, foreclosures, loan, loan solutions, sell house quickly, East LA,

Cash for Houses

Yes, we buy “as is” houses. And, we pay cash for houses.  One couple called us that owned a house they wanted to sell quickly. They invited us to take a look at their house. How does our process work? We know your neighborhood and the house prices. We did a walk-through of their house, noted any deficiencies, and figured out what it would cost to fix those items and at what price we could sell the refurbished house. We noted that the house needed some work such as garage instead of a car port and a renovated kitchen. Today’s buyers want granite counters, double sinks, dishwasher, stainless appliances, modern lighting, and modern cabinets. The couple didn’t have the money for those things, yet wanted to sell. They also needed a new roof. We explained how we calculate the profit we need on our investment and offered them a price for their house. We did say, with us, you don’t have to make adjustments to the sale price for the cost of the repairs pointed out by the inspector. We pointed out that there are no realtor commissions of 5 to 6% to pay out of their proceeds. In fact, there are no fees whatsoever. There are no open houses to live through and no fears that something goes wrong when it’s time to close and that could lose the buyer. Isn’t that what you want? You want a clean sale. You want a fair offer and you want to know how we arrived at our offer. Then you want to cash out as quickly as you can, so you can pursue your new life style. There are many reasons to want cash for houses. They include the Four Ds. Debt Stressful as they can be, financial challenges are the main motives why people tend to quickly sell their homes.  If you have too much debt and are facing a possible foreclosure or even bankruptcy, you may have a desire to resolve the situation so your credit rating doesn’t suffer more. Divorce It is particularly stressful to go through divorce. Once the property division is settled, you want to sell quickly and get on with your lives. Death in the family When families are dispersed it is hard to take care of the family home from another city, and travel is expensive. We can help. We can make a cash offer for the house, even while in probate. Downsizing The house is just too big for the two of you, now that the kids are gone. You decide that you need something smaller. Maybe, you have the travel bug and don’t want to worry about the big house in the States. We can pay cash for houses and you can be on your way to a smaller house or the Amalfi Coast of Italy. Red Hill Real Estate Solutions, LLC. is part of a nationwide group of thousands of investors who are helping tens of thousands of homeowners every year.  We may not be the “traditional” route, but we CAN help and we can do it quickly Give us a call today at 951-356-5440 to let us know what YOU need help with!