About Corona's Corona/eastvale

The upside benefit to higher oil prices, Corona CA

What you say?? Have I really lost it? Am I bunkers??

Why would there be any excitement toward the fact that oil prices are on the rise? Higher oil prices translates to higher gasoline prices. Which in turn means less consumption of material goods, and in turn slows down the economy.

However, there is a flip side to every coin. As the price of gasoline rises, due to the recent turmoil in the Middle East, investors search for the safe heaven of US Treasury. This in turn lowers the mortgage interest rates that lenders charges to consumers. As the mortgage rates decreases, the affordability to consumers rises.

This is explained by RJ Baxter's blog on ActiveRain:

Mortgage Rates in Denver, CO: Market Update by RJ Baxter 2-28-2011

After weeks of rising mortgage rates in Denver, CO and nationwide, rates improved significantly last week.

However, the good news on mortgage rates in Denver, CO was for bad reasons as the Libya conflict sent oil soaring and cast doubt that the economic recovery will continue with higher oil prices.

Although the US gets only a small fraction of it's oil from Africa and Libya, the fear resulting from violence in Libya and other Mideast countries sent oil higher and cast global doubt on the stability of economies. As a result money flowed into the relative safety of US Treasury assets.

When there is demand for US debt, bond prices, which move inversely to bond yields, go up, which causes mortgage rates in Denver, CO to go down.

The bond chart on the left shows this relationship. Note the upward trend in bond prices over the past 8-10 days. Although there is much more ground to re-take to get mortgage rates in Denver, CO back to levels we saw late last year, we have seen improvements back to where we were in early February.

Also casting doubt on the strength of the recovery was continued weak employment data and continually weak housing data. In fact, it was announced last week that the NAR may have overstated housing sales data by as much as 20%! This in light of already weak housing data over the past 3-4 years. If the numbers from previous years are adjusted down, how will that make the economic recovery look or the recession for that matter?

Bottom line is that mortgage rates in Denver, CO and nationwide are on a nice downward trend which means continued great opportunities for refinancing and buying a home with affordable payments.

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No matter where you live in this country, this is a great opportunity to lock in your rates before they go up again. Even higher oil prices can translate to good housing market. Happy shopping everyone !!!

I saw it and I am afraid to blink, Corona CA

On my way home today, I saw it and could not believe my eyes...I am afraid if I blink it might change again.

Didn't I fill up my tank two days ago and the price was close to $3.50??? Am I getting senile in my old age?? Has the price really gone up that much this week?? Or could it be that I need a new pair of glasses??? The highest gas price in our local area was found at a Mobil gas station in West Covina, on Friday at $4.69 a gallon. That is right...you read it correctly...at $4.69 a gallon (this is definitely an example of price gouging).

Unemployment is still high. Military contractors and commercial manufacturers are still laying off workers. Everyone seems to be counting their pennies. Those who are on a budget can barely make it as it is. Elderly are having to make the decision daily whether to purchase food or medicine.

Majority of us have lost equity on our investments whether it be stocks, 401k or our homes. Savings are dwindling daily. Homeowners are having to make the dreaded decision to default on their payments or to forgo on essentials such as food and clothing.

Obama was voted into office on the platform of a change we can believe in, that we can do it. Two years later, many are still suffering, out of a job and still struggling. We are seeing cuts everywhere. It is funny how Social services and Education are usually the first places to be put on the chopping block. I am not here to blame anyone. Just merely making an observation...

Where is the economic recovery? Last month's new unemployment claims was still close to 400,000. Jobs are still scarce. People want to work, but can't find work. A Silicon Valley company, BAE Systems, sent out another 130 WARN notices last Thrusday. This is the third cut for this military contract company within this past year. BAE is also cutting its UK work force by 1300 as announced last week. Borders is another example of companies who are shutting its doors. The economy is still very soft and now we have to deal with the turmoil in Egypt and Libya. It seems like we took one step forward and three steps backward.

High price of oil brings uncertainty to the economy. Higher transportation costs raises the cost of living.

There is talk in the media of gas prices reaching $5 dollars a gallon by the Summer. This is one time that I really hope the media is wrong. Oil prices peaked Thursday at over $103 dollars a barrel. Gas prices are already at the highest level ever for this time of year. What is going to happen if turmoil spreads past Libya and continues throughout the Middle East. People are saying that this is probably the greatest threat to the global oil supply since the Persian Gulf War.

Why are we still so dependent on other country's oil resources? When we purchase Libya's oil are we not supporting their causes? What happened to democracy? At some time, this vicious cycle has got to stop. We should look to our own resources. We need to be more independent. Lets put more research into solar power and wind energy.

What are your thoughts?

If you wait till Spring...you might have to pay more, Corona CA

I am reblogging an article written by Nick Padulla, loan officer from Rockville MD. It's very informative and timely. There are so many buyers who are still on the fence deciding whether this is the right time to purchase. From all the recent activities, all indications lead us to believe that the market is improving and heading NORTH.

Nick explains to us some of the benefits for purchasing NOW instead of waiting till Spring. It definitely is going to be more cost efficient to purchase a home NOW before the FHA fee hike becomes active in April.

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Nick Padulla's blog:

If you are considering buying or selling your home in an area such as the Kentlands in Montgomery County, now is the time to act! As you may have heard there are a large number of governmental reforms coming to the housing and mortgage industries. Most of them still have to be discussed among lawmakers, but the guidance appears that mortgages will get more expensive and have higher qualification standards. This means now is a great time to act on the purchase of a home! This will impact all areas including the Kentlands / Lakelands, Rockville, Bethesda, all of Montgomery County, Maryland, etc.

Housing Tidbit: Median existing home prices in the Washington DC area last month were up 6.2% from a year ago http://bit.ly/fK6AQ2, (great news!) this trend will likely continue and push home prices higher with an active spring market

My Take: Act now if you are a first time homebuyer or are buying a more expensive home. Another 6.2% gain on your less expensive home will cost you more in missed opportunity cost compared to another 6.2% gain on your more expensive home

Housing Tidbit: FHA monthly MIP is slated to increase by .25% effective April 18th, 2011. It is currently .9% on a 30 year mortgage with 3.5% down. On a $300,000 mortgage currently the monthly MI is $217, with the increase it will be $287 My Take: FHA has a tendency to delay these abrupt changes, but FHA is currently used by 30% of home buyers - so this will have a direct impact on the cost of obtaining a mortgage. Note: If you can get to 5% down, my bank has a product without monthly mortgage insurance that can save qualified borrowers money over FHA. Contact me if you would like to hear more.

Housing Tidbit: With the government report released last week, http://bit.ly/fEpw7c a number of overhauls to Fannie Mae, Freddie Mac, and FHA are on the table My Take: These changes are expected to take many years but some could come sooner: including requiring banks to hold more risk on the mortgages they originate, potentially requiring larger down payments, and likely in the short term likely allowing the “High Balance” $729,750 (DC Metro) and $560,000 (Baltimore Metro) loan limits reset back down to $625,500 and $494,500 respectively after September 30th 2011. All changes leading to mortgages being more expensive due to banks holding more risk and / or stricter qualification standards.

Housing Tidbit: With the improving economy, mortgage rates have generally been on the rise since their all time lows last year.

My Take: When the economy improves, most people don't want to invest in low returning bonds - making mortgages more expensive.

Whether you are in the Kentlands in Montgomery County or are somewhere else in DC, Maryland or Virginia, now is the time to act, get a head-start on the Spring market before everyone else is making offers on the property you are interested in.

As always, our Community Bank is here to support you - with our ability to close loans in 2 weeks, 10% down second trust products, and 5% no monthly mortgage insurance products we are ready to get you to settlement on time with ease. Have a great weekend! Feel free to pass this along to anyone you think may benefit and I am happy to answer any and all questions. 301-585-7283

Nick Pakulla / Loan Officer / First Place Bank Mortgage Lender / 15400 Calhoun Drive, Rockville MD 20855 / 301.585.7283

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Home values in Corona and the Inland Empire are still undervalued. If you are in the market for a principal residence or an investment property, there is no better time than NOW. A third of the purchases for the month of January were obtained thru FHA financing. If this is to continue thru Spring, it is definitely more cost efficient to obtain a loan NOW before the FHA fee hikes become affective in April. Don't sit on the fence anylonger, contact Nick Padulla or your local loan officer today.

Dog park in Eastvale Corona CA


Eastvale Corona has 13 parks in its community. These parks are family and dog friendly. Two of the park locations are designated for our lovely four paw friends.

The first dog park in Eastvale Corona, CA was opened December, 2006. It is located within the Harada Park, at 13100 65th St. Corona, CA 92880. It features separate off leash areas for small and large dogs. It is open daily from dawn to dusk. It is fully fenced and covered with green turf grass. It is very clean and well maintained by the Jurupa Community Services.

The newest dog park in Eastvale Corona CA is located on Dairyland Park, which is located in the Meadowside residential development. The park has 9.2 acres of open space and is located on 14520 San Remo, Corona, CA 92880. This park is also fully fenced, but it is partially covered with artificial turf as you enter the park. This is a demonstration of water conservation on the part of Jurupa Community. It does have some green turf in the center of the dog park. It also features a separate off leash area for small and large dogs.

If you want to search for the closest and nearest dog park in your community, go to www.doggoes.com/parks

Come and enjoy Eastvale's dog parks. Bring your four legged friend and meet your neighbors. But remember to pick up after your dog. It is not only good etiquette, but it is also environmentally healthy to everyone!

Removing dog feces prevents reinfestation and prevents exposures to worm eggs and larvae. Did you know that dog feces can transmit diseases to people? Roundworm, hookworm and other parasitic worms can be transmitted to humans where dog feces are present. Ocular larva migraines is one type of parasitic worm that is found in dog feces and can cause serious eye damage to young children.

Dog feces and urine can burn lawn and cause dead, brown patches on turf. It is unsitely and unattractive not to mention the offensive odor. So remember to pick up your dog's poop so that we can all enjoy the park. Be a good neighbor and dog owner. Remember to bag it and remove it. Don't leave it behind!!!

Sunday drive in Corona CA

It was a beautiful day yesterday in Corona CA. After a downpour the day before, I couldn't wait to go outdoors and soak in some warm rays. Here are some of the pictures that I would like to share. It is strange how I never noticed them before...

Eastvale became a City in October 1, 2010. Now we have our own City signs posted by each of the city boundaries.

This is a family oriented community. Who knew there were special parking spaces assigned for expecting mothers and mothers with small children.

Did you know that there is NO SMOKING in city parks?

Therefore, NO smoking in all of Eastvale's 13 parks.

I pass by the dairy farm everyday without actually enjoying the beauty it has to offer.