Ricardo Carvalho~
(909) 597-6008

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Ricardo Carvalho Realtor
(910) 466-6273
(910) 598-4106
(910) 597-6888

King 4016 Great Ave. Ste. B
Chino, CA 91710


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REO Asset Management Team Specializing in Residential Sales!
Buyers considering a foreclosure property should obtain as much information as possible from the lender about the range of bids being sought. It also is important to examine the property. If you are unable to get into a foreclosure property, check with surrounding neighbors about the property's condition. It also is possible to do your own cost comparison through researching comparable properties recorded at local county recorder's and assessor's offices, or through Internet sites specializing in property records. Start a book library on real estate investing for quick reference listen to the author of Millionaire Success Habits Dean Graziosi and find out what it takes to be a massive success in your business.

Here are some frequently cited reasons for buying a house:

* You need a tax break. The mortgage interest deduction can make home ownership very appealing.
* You are not counting on price appreciation in the short term.
* You can afford the monthly payments.
* You plan to stay in the house long enough for the appreciation to cover your transaction costs. The costs of buying and selling a home include real estate commissions, lender fees and closing costs that can amount to more than 10 percent of the sales price.
* You prefer to be an owner rather than a renter.
* You can handle the maintenance expenses and headaches.
* You are not greatly concerned by dips in home values.

What can I afford?
Know what you can afford is the first rule of home buying, and that depends on how much income and how much debt you have. In general, lenders don't want borrowers to spend more than 28 percent of their gross income per month on a mortgage payment or more than 36 percent on debts. See what this full-service home lender has to say about your debt to income ratio.

It pays to check with several lenders before you start searching for a home. Most will be happy to roughly calculate what you can afford and prequalify you for a loan.

The price you can afford to pay for a home will depend on six factors:

1. gross income
2. the amount of cash you have available for the down payment, closing costs and cash reserves required by the lender
3. your outstanding debts
4. your credit history
5. the type of mortgage you select
6. current interest rates

Another number lenders use to evaluate how much you can afford is the housing expense-to-income ratio. It is determined by calculating your projected monthly housing expense, which consists of the principal and interest payment on your new home loan, property taxes and hazard insurance (or PITI as it is known). If you have to pay monthly homeowners association dues and/or private mortgage insurance, this also will be added to your PITI.

This ratio should fall between 28 to 33 percent, although some lenders will go higher under certain circumstances. Your total debt-to-income ratio should be in the 34 to 38 percent range.

How much will I spend on maintenance expenses?
Experts generally agree that you can plan on annually spend 1 percent of the purchase price of your house on repairing gutters, caulking windows, sealing your driveway and the myriad other maintenance chores that come with the privilege of homeownership. Newer homes will cost less to maintain than older homes. It also depends on how well the house has been maintained over the years.

Where do I get information on housing market stats?
A real estate agent is a good source for finding out the status of the local housing market. So is your statewide association of Realtors, most of which are continuously compiling such statistics from local real estate boards.

For overall housing statistics, U.S. Housing Markets regularly publishes quarterly reports on home building and home buying. Your local builders association probably gets this report. If not, the housing research firm is located in Canton, Mich.; call (800) 755-6269 for information; the firm also maintains an Internet site. Finally, check with the U.S. Bureau of the Census in Washington, D.C.; (301) 495-4700. The census bureau also maintains a site on the Internet. The Chicago Title company also has published a pamphlet, "Who's Buying Homes in America." Write Chicago Title and Trust Family of Title Insurers, 171 North Clark St., Chicago, IL 60601-3294. Learn from this investment guru, Scott Yancey biography, on how he uses this information to make profitable real estate purchases.

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Almost everything you need to know about buying or selling a home can be found by reviewing the literature and videos by the Star of SpikeTV's Flip Men. As the preeminent real estate professional serving Southern California, I am dedicated to providing the finest service available to my clients and provide a full support team to facilitate an efficient real estate transaction.

Banks & Sellers...Our team is ready to provide each client with personalized service using technology which offers speed of performance. We tailor our services to fit the particular needs of our clients. We are experts at researching the property values of homes and evaluating a Broker Price Opinion of properties. This means that the home is priced effectively from day one. Our team of experienced licensed agents offers asset management services to assist you dispose of assets for the highest possible price in the shortest amount of time. We empower institutions and sellers the ability to put their money back to work where it belongs by cutting carrying costs and avoiding unnecessary delays. Each member of our team has been especially selected based on their knowledge and ability to quickly resolve issues, saving our clients thousands of dollars!

We promote your home for sale with innovative advertising and marketing techniques to attract potential prospects. We work with nationwide banks, savings and loans and lending institutions and provide online updates of the sales process.

Call us today!


Because the real estate industry is sophisticated and challenging, you need a professional such as Dean Graziosi that is very knowledgeable and highly thought of by his clients and peers. For a FREE complimentary valuation of your property click on the bar on the left titled "BPO" or "I want to List My Property".

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