Victorville, CA

A new Loan program has resurfaced upon us again. It is a 100% loan with no mortgage insurance. It is designed for Home buyers in Rural areas, and fortunately for us high desert real estate professionals the city of adelanto qualifies for this government insured loan program. Get your adelanto homes sold to those hard working families that just dont have the down payment but can truly afford a home out here and deserve to.

No matter what the market, people will continue to desire to live in Victorville, as it remains one of the most active cities within San Bernardino County. Comparatively speaking, the Victorville housing market continues to post brisk sales.

In of July 2008, 39 single family homes and a total of 0 condos/townhomes sold, down 34 from last month. My overall view of the market is still slipping in cost per square foot while the sales numbers are stabilizing a little.

For a full county market report Click Here.

Closed Sales For July 2008, Up 12 from last month

75 Single Family Homes

0 Condos/Townhomes

Pending Sales For July 2008, Up 24 from last month

117 Single Family Homes

0 Condos/Townhomes

Current Actives As of Today's Post, Up 6 from last month

770 Single Family Homes

0 Condos/Townhomes

Foreclosure Activity for July 2008

92392 - 212 Notice of Defaults (NOD) Up 2 from last month

92392 - 202 Notice of Foreclosure Sale (NOS) Up 38 from last month

92394 - 104 Notice of Defaults (NOD) Down 12 from last month

92394 - 143 Notice of Foreclosure Sale (NOS) Up 27 from last month

92395 - 92 Notice of Defaults (NOD) Up 16 from last month

92395 - 76 Notice of Foreclosure Sale (NOS) Down 2 from last month

Price Per Square Foot
Looking at the price per square foot helps us understand the value placed on homes in a real estate market. Median Price per Sqft. as of September 14, 2008 for Victorville is $198, down $9 from last month.

By Zip Code:

92392 - Lost $10 a square foot from last month, a $20,000 loss on a 2,000 square foot home, giving it an $96 average per square foot value.

92394 - Lost $4 a square foot from last month, a $8,000 loss on a 2,000 square foot home, giving it an $91 average per square foot value.

92395 - Lost $3 a square foot from last month, a $6,000 loss on a 2,000 square foot home, giving it an $100 average per square foot value.

Any way you slice it, the averages are getting real close to replacement value.

This sales data lags a month.

Data Sources: MRMLS, Altosresearch, Foreclosure Radar and Data Quick.

It's important to stay in tune with the changes in the market. Call Empire Realty for your next personal real estate consultation at (909) 579-6611, or visit us on the web at Empire Realty.

For information on purchasing your next home in Victorville or anywhere in the Inland Empire call Empire Realty at 909-579-6611 or visit us on the web at Empire Realty.

Empire Realty is your one stop shop for information and Full Service at a Discount

Do You have a Real Estate Business plan? Do you have a plan that will make a bank Bankroll you? Lack of clarity in business and and business plan is next to the biggest reason a business fails. I believe the first is undercapitalization. However enjoy the following.

Can you identity the following in your business:

Management: Who are the principals of your business, What is your area of expertise. What makes you better than your competitors.

Business Purpose: What business will you do or not do. Short Sales, Reo, Traditional? Buyers only? Sellers only? Work with teachers who are transfering to the High Desert? How will the business benefit the community? If you do short sales you are helping to save a family from the fallout of financial ruin. Is there a demand for this type of entiry? Did you find a niche?

Equipment: Phone/Fax/Cell/Printer/Desk/Chair Work out of the Brokers' Office or out of your own?

Faciltiy: Where is your business conducted? Do you meet clients at home or at the brokers' office or at a local escrow company. If this is your office- how will the space be used? Will you Feng shui? What are the terms of the leases.

Service Area: Will you target your location? How far do you want to drive? Will you have an area of expertise? (one mile by one mile square will give you plenty to do)

Employees and/or team players: How many employees do you have? Have you built a team base with local vendors to help facilitate your deals? Is there an area of expertise that you need to hire? Accounting, payroll, repeted tasks that relate to marketing?

Cost of Establishment; Count the cost before you get in. What are your expenses after getting the education and passing the state DRE Test? Do you have local MLS fees, Franchise fees, Desk Fees,

Product: What is your product? in Real estate for the residential market it is homes that make up the product. Do you know your product? Have you previewed your product? What knowledge of the product and the liabilities do you have? How are you going to present your product better than the competitor?

Have you written your goals for first year production? Do you have a vision for your business?

One of the easiest ways I know to figure your income is to take the average price of the product you sell. Take the amount of money you want to earn in one year to meet all the needs and fun you want to have. That is how many deals you must do in order to make things happen.

Finally Real Estate simply boils down to three functions

Lead Generation: Find em\

Lead Conversion: Make em like you and pick you

Lead Serviceing : Sell and put it into escrow

and do it again.

Thanks for Reading.

Make it an Awesome Day

Think about all the Good World Vision Does. Have you thought about supporting World Vision?

There are two ways to lower your property taxes in Victorville which are legal and FREE.

1) If you qualify, appeal your property tax assessment

2) Claimed your Homeowner's Tax Exemption

APPEAL YOUR TAX ASSESSMENT

• Home values in Victorville have decreased over the last year, you may be able to lower your property taxes?
• This will only apply if you purchased your home or have been re-assessed in the last couple of years?

If the above information applies to you, you may be able to do something that will cost you nothing. This simple process can save you hundreds of dollars in future property taxes.

Lower you Property Tax Bill NOW !

Each county operates differently but the simple answer is that all you need to do is ask for your property to be re-assessed.
Some counties are proactive and are already planning on reassessing your area, but their opinion of value may be very conservative.

In 1978, we in California passed Proposition 8, allowing homeowners to request a reassessment of their homes. More information on Proposition 8.

If prices have declined since you were last assessed this simple process could save you some serious cash.

How much can I save?
Let's take a home purchased a couple of years ago for $750,000.
With a current tax bill of $9,000 a year, at tax rate of 1.2%. Your tax rate can be as high as 1.9%.
Let's assume that the current value has dropped 10%, not unrealistic in this market, making the current value around $675,000.
The tax bill on a property of that value would be $8,100 or $900 less! That is a savings of $900 every year that the new lower tax rate applies.

Get started by filing an assessment appeal with County Assessor's Office, Click for Directions and the Form

*****Empire Realty will provide you with a free opinion of value for the assessment appeal, just drop us an e-mail with the address of the property of the property to be reassessed and we will get that information to you. *****

The more value you have lost since the last assessment, the greater you may be able to save!

HOMEOWNERS TAX EXEMPTION

There is also a Homeowner's tax exemption which lowers your homes taxable value by $7,000. Available only to qualifying owner-occupied homes.

How much can I save?

Let's use the same example as above, your homes present taxable value is $750,000.
With a current tax bill of $9,000 a year, at tax rate of 1.2%. Your tax rate can be as high as 1.9%.
Let's assume that you qualify for the homeowners tax exemption of $7,000 which brings your taxable home value down to $743,000.
The tax bill on a property of that value would be $8,916 or $84 less! This amount may seem low but you will save this amount year after year.

Homeowner's exemption information can be found Here and download the Form.

For information on purchasing your next home in Victorville or anywhere in the Inland Empire call Empire Realty at 909-579-6611 or visit us on the web at Empire Realty.

Empire Realty is your one stop shop for information and Full Service at a Discount.