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Just as there are all kinds of people on this earth, there are all kinds of mortgage companies. There are some who are true pros and want to get the best deal for their clients they have contacts in the industry and in financial institutions. There are others who are only out to make a fast buck. They know how essential it is to match the client’s requirements while keeping an eye on ability to repay.

Getting That Fit between Realty and Lender Right

It’s no good if you find your dream house in the location you desire the most, only to be evicted a short while later because the repayment schedule is way beyond your means. It is essential that you have a property lined up before you start negotiating with any mortgage companies in Huntington and other places. While you will naturally want something extraordinary by way of what you and your family are going to call a home; you also need to do a reality check. Understand that you will need to make a sizeable down payment to get a mortgage. So price will definitely be a major consideration.

Location is another vital factor. It is not simply how easily you can reach your workplace and the children reach their school/college. What many people don’t realize is that in certain cases there is a distinct probability of real estate prices escalating in the area they have found the house of their choice. Do some investigation on your own to find out whether any major projects related to building of a major highway or related to any industry is on the cards. You can rest assured that the mortgage company will check out that aspect before they sanction your mortgage.

Check Resale Value

The logic they follow is that if prices are likely to rise in the foreseeable future, their investment is secure. They will not wince at evicting you and your family if they need to foreclose due to default of repayment. After all the resale value might actually be higher than what they loaned you. And, if you have chosen a house in an area where the resale value is likely to rise, you will find it easier to repay your mortgage by putting it on the market and keep a tidy nest egg at the end.

Pasadena real estate, in general, has proven itself to be recession-proof and homes for sale in Pasadena have consistently retained their value through the ups and downs of the market. For that reason, Victory Park is one particular neighborhood that has seen a lot of action from homebuyers and home sellers alike.

Victory Park is an urban neighborhood located in East Pasadena. It is located south of New York Drive and north of Orange Grove Boulevard with Altadena Drive to the west and Sierra Madre Boulevard to the east. Victory Park is named after a beautiful park that resides in the middle of this unique neighborhood. This park was originally built as a military airfield. The main headquarters to the Internet provider, Earthlink, reside in Victory Park.

Victory Park is an educational district full of schools and learning centers. The two schools are Wilson Middle School and Pasadena High School. The Marine Corps has a Reserve Training Center there. A private school called Assumption Middle School can also be found in this neighborhood.

The average real estate price of Victory Park is $707,935, which is higher than 81% of the neighborhoods in California and 96.6% of all neighborhoods in the United States. The median rental price in Victory Park is $1,920, which is higher than 73.8% of all neighborhoods in California.

Real estate offerings in Victory Park are made up of medium to small sized single-family homes and apartment buildings. Medium sized homes range from three to four bedrooms while small homes can have one to two bedrooms. The real estate in Victory Park is mostly owner occupied. Many of the homes in Victory Park were built between 1930-1970. Victory Park has a vacancy rate of 11.4%, which is higher than 60.3% of American neighborhoods. These statistics suggest that there is little demand for rental housing in Victory Park or that college students or vacationers occupy much of the housing seasonally.

Approximately 61.1% of the residents in Victory Park are married and around 54% of the residents are between the ages of 30-64. Victory Park is in the top 15% of the highest income neighborhoods in America. Only 8.9% of the minors in Victory Park are living below the federal poverty line, which is lower than 65.2% of American neighborhoods. Approximately 55% of the population has jobs in management, professional, or executive careers. Following that, there are 18% of the residents employed with service jobs like fast food restaurants. About 17% of the population holds careers in clerical, assistant, and tech support positions. Finally, 10% of the residents have jobs in manufacturing and laborer occupations.

Victory Park in Pasadena, CA is considered a great neighborhood to raise a family. The houses are high quality and the neighborhood is quiet and safe. Victory Park is considered a melting pot with the dominant ethnicity being Armenian. The other common ethnicities found in Victory Park are Mexican, Asian, and English.