San Diego Tea Party Patriots

100 IRS Offices around the country are going to be targeted at noon tomorrow for peaceful protest by the Tea Party Patriots against the Internal Revenue Service. Being challenged is the government agency’s abuse of power while targeting and harassing various Tea Party groups.

There are many Tea Party groups, but the Tea Party Patriots is one of the largest coalitions with more than 3000 organzized chapters around the country.

The organization is sending out protest information, talking points, sample press releases and sample sign messages, as grassroots organizers demand a Congressional investigation of the IRS. Alternative, you may find additional information here.

The Tea Party Patriots is also asking group organizers to report IRS abuses, by filling out a “Did the IRS target you?” form.

The San Diego Tea Party Patriots protest against the IRS will be held on Tuesday, May 21 at:

BUILDING: SAN DIEGO
ADDRESS: 880 FRONT STREET
CITY: SAN DIEGO
STATE: CA
ZIPCODE: 92101
BUILDING_T: IRS OFFICE
FULL ADDRESS: 880 FRONT STREET, SAN DIEGO, CA 92101

And for what it’s worth, have been hearing a number of our San Diego real estate clients bitching about government abuse of power–most especially from the dreaded IRS. Would an apology suffice if, say, we were to underpay our taxes?

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Older Staircase in La Costa Home.

Carlsbad, CA–Over the past decade, there has been a flurry of home remodeling in San Diego County–particularly in coastal areas, where building activity first blossomed. During the last ten years, tile and formica surfaces in kitchens and baths have been replaced with natural stone products, while stainless steel appliances dominate kitchens. Popcorn has been scraped from ceilings and energy efficient dual-paned windows are replacing their single-paned predecessors.

Now, the staircases in 1970′s and 1980′s homes are being replaced.Being torn down are enclosed staircases, along with those stem walls with wrought iron toppers and 2×6 handrails (see photo at right). Some are being replaced because of safety issues that could result in a child’s head could get stuck between the stair rails–or a disastrous fall .

We had the opportunity to interview San Diego’s original staircase replacement expert, Gregg Kuzara, who happened to spend a few days in our home performing his wood and metal magic. He explains that because of the advancement in tools, technology and trade that what might have cost $30,000 (or much, much more) just 15 years ago can now be had for perhaps $10,000.

Where once wrought iron staircase pickets had to be handcrafted, they can now be largely manufactured offshore. Cordless tools, computer drafting and other construction advances have made staircase replacement far more efficient–and far more affordable, than we had imagined. Count on teardown and reconstruction taking at least a week–and probably longer.

The results, though, might add an entirely different dimension to your home. As we show homes throughout North San Diego County, it is easy to see the difference newer wrought iron, railings and woods can make to older barriers. And finally, this article has nothing to do with what we are paying for our staircase replacement. Consider this a heartfelt and unpaid endorsement.

Would we recommend Gregg Kuzara and his San Diego staircase replacement services? We would–in a heartbeat!

The post The Latest San Diego Remodel: Staircases appeared first on Carlsbad Real Estate, Encinitas Real Estate, San Diego Real Estate.

Does Your Realtor have Errors & Omissions Insurance?

One of the first questions you should ask of any San Diego real estate agent you are thinking of engaging:

Are you covered by Errors and Omissions Insurance that will protect us both in the case of litigation? Can you provide proof of said coverage?

According to the 2013 Realtors Member Profile, fully 78 percent of all Realtors are NOT covered by E&O insurance. This sends shivers down my spine. Most real estate lawsuits are leveled against the sellers by their disgruntled buyers. Errors and Omissions insurance is a key protector for both the agent and the seller–in that the agent is generally responsible for sins of the seller.

If the agent has no insurance, liability may very well fall onto the seller. That is, unless the agent has sufficient funds to hire an attorney and cover settled or adjudicated costs. And that’s not likely to happen if the agent can’t afford the insurance in the first place.

Errors and Omissions insurance is an expensive cost of doing business for a Realtor, and is an essential element in risk management.
Again, be certain to ask if your agent has this insurance. Your future financial health could depend on it.

Do we at San Diego Previews Real Estate have Errors and Omissions Insurance? Absolutely!

For additional information, call Roberta Murphy at 877-818-8197 or 760-402-9101 /email: roberta@sandiegopreviews.com

hat tip: Agent Genius

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Rising Rents

My heart goes out to those who struggle over whether to rent or buy in the San Diego real estate market.

On one hand, folks fear getting caught in a real estate bubble that destroyed so many in the past few years. Alternatively, renters in San Diego are seeing rental costs soaring, with no let-up in sight.

So what to do?

Should you buy a home now while rates are low and lock in your monthly payment. Or should you continue to rent and wait to see if prices go down?

This visual from the KCM Blog shows what has happened on a national level with rents wince 1988. San Diego, of course, has higher rents and higher home prices–but would still track with this chart.

I have no crystal ball for home prices in San Diego. If interet rates rise in the, so will mortgage payments taken ouyt at those rates. And home prices could stagnate for awhile, while those future homebuyers will be wishing they had bought when rates were at historical lows.

We currently have a client who relocated to San Diego last year and had already decided which neighborhood he wanted for his family. Instead of buying, though, he decided to rent to see if home prices in Carlsbad softened. Regretably, they went up instead and he ended up paying about $40,000 more for the same type home he was looking at a year ago.

Of course, monthly mortgage payments will be higher than they would be for rental on the same home. But with a purchase, you have the opportunity to lock in housing costs–which provides some protection againtst certain inflation.

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Jockey Club

When showing luxury condos in North County, I almost always try to introduce clients to the Jockey Club at La Costa–and enjoy their amazement.

The Jockey Club at La Costa represents the epitome in large and luxurious condo and townhome living in not only Carlsbad, but all of San Diego .Ceilings in the living areas must vault up 20 feet, and large skylights above keep the rooms awash with natural light. Closets are oversized and storage space is abundant. All offer grand stairways, huge fireplaces and square footage that starts at over 2700 square feet to 3-bedroom models with over 3600 square feet.

Many of the units were professionally decorated when originally built, and underwent additional renovation years later–and some have even added elevators for second floor sercice

The Jockey Club is a gated and concierge-attended development adjacent to the La Costa Golf Course. The gates are attended during daylight hours and the grounds are under continual manicured maintenance. Additionally, there is an elegant and recently-remodeled pool, club house and lounge area reserved for residents.

Finally–and as a big bonus for golfers– there is a golf cart path that can take residents directly onto the La Costa Golf Course–and the club house just beyond.

Click the link below to see current listings of homes for sale in the Jockey Club, which in our opinion represent some of the finest luxury buys in all San Diego.
Homes for Sale at the Jockey Club

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Simple Life Hack

Son Eric Murphy knows how I love elegant solutions to seemingly complex problems.

This afternoon he sent to me a link not with one–but 100 life hacks that can solve myriad problems and entanglements–not only for me, but for our San Diego real estate clients as well.

Read and enjoy–but beware though, you may become a compulsive hoarder of empty toilet paper rolls, paper clips, walnuts, plastic bottles, old suntan lotion containers, clothes hangers and even those little plastic tabs that close those bags holding bread.

Here’s a link you’ll want to save!

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Confused About Short Sales?

Put to rest the nightmare of a lender pursuing a deficiency judgment against you for mortgage debt forgiven in a California short sale.

It’s not going to happen!

Mortgage lenders are prohibited from obtaining a deficiency judgment following the short sale of a residential property with no more than four units. Junior lien holders are also prohibited from pursuing a deficiency judgment if they have agreed to the short sale (per Cal. Code Civ. Proc. § 580e).

In effect, lenders who agree to a short sale can no longer:

Require the borrower to sign a promissory note as a condition of the short sale

Require the borrower to contribute funds at the close of escrow as a condition of the short sale.

I can’t tell you how many distressed homeowners in San Diego fear doing a short sale, fearing that banks can come after them later for the mortgage debt that was erased. Back in the 1990′s, it was common practice for lenders to do this and many were saddled with debt for years after completing thier short sale.

California has passed laws prohibiting this practice. If a lender agrees to a short sale and it closes, the borrower is free to move on–unencumbered with old mortgage debt.

Additonal Reading

A San Diego Short Sale Solution

Need to Short Sale Your San Diego Home?

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Tax on Short Sales?

This is a question anyone facing a short sale in 2013 should ask their Realtor.

We’ve written about these taxes before, but once again here is the information we present to our San Diego real estate clients:

For Federal tax returns, the mortgage fotgiveness debt relief on principal residences will remain in effect until December 31, 2013. Will it be extended? We don’t know.

For California tax returns and according to the California Franchise Tax Board, the debt forgiven on or after January 1, 2013 may still be excluded, but only if:Taxpayers were bankrupt when the discharge occurred (Title 11 discharge).

Taxpayers were insolvent (limited to level of insolvency).

Qualified farm indebtedness was canceled.

Debt was Qualified Real Property Business Indebtedness (QRPBI) and you make a federal election. The taxpayer cannot be a C corporation to use this exclusion.

If more than one of these exceptions applies, they are applied in the above order under Internal Revenue Code Section 108(a)(2).

(Our opinion? This sucks for distressed California homeowners. Most would not do a short sale if they were solvent and finances were in order. Some have been forced to move because of job or other necessities. Some have health issues. Some are just buried in debt and stress. Why would California lawmakers decide that its most financially stressed should bear the additional burden of being taxed on phantom income that doesn’t put food on the table or gas in the car?)

If you have questions or would like to discuss a possible short sale for your home, please feel free to give me a call at 877-818-8197 or 760-402-9101.–Roberta Murphy

Additional Reading”

A San Diego Short Sale Solution

Need to Short Sale Your San Diego Home?

Our Privacy Policy at San Diego Previews Real Estate

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San Diego Multiple Offers

Here are 7 tips that can make the difference between a home that sells at or above list price and one that languishes on the market. In most markets, buyers are waiting and willing to compete for homes that make to cut. Here are some tips to attract multiple offers:

1. Price to perfection. List your home at or around 5 perent under market valuation and you could generate a bidded sales price of up to 8 percent over your original asking price. Overprice your home and it could sit unsold for weeks–or months. Beware agents who attempt to buy your listing with a too-high list price.
2. Enhance your curb appeal. Clean up and mulch garden beds. Any peeling or faded paint? Rotten wood? Replace or scrape, then prime and paint. Replace front door mat and check front door. Does it need new paint or a coat of varnish? How about the hardware? Couild it use updating? Same goes for porch light.
3. Walk through your home with a critical eye and all remove pockets or piles of cluttter. Buyers open closet and doors, so make sure they aren’t overcrowded and are as appealing as possible. Consider donating, having a garage sale or simply packing up those things that clutter your home.
4. Are baseboards or doors scuffed and dirty? Cleaning might do the trick, but don’t hesitate to repaint if necessary.
5. Many younger buyers hate brass knobs and fixtures–as they quickly date a home. Consider replacing brass faucets, cabinet knobs and accessories with brushed chrome, burnished bronze or some other contemporary material. Oh, and make sure all cabinet doors close and use magnetic latches if necessary.
6. Make sure your home is sparking clean–including windows and screens and that smoke and animal odors are abated. Clean carpeting and wash or repaint walls if needed.
7. Finally, make your home easy to show. Allow a lockbox if possible and be ready for showings on short notice. If your home is ready and easy to show–and your agent advertised it all over the internet, you should have a very busy first–and hopefully final–week on the market.

And if you are even thinking of putting your San Diego home on the market and want to discuss multiple offer strategies, please give Scott, Mike or me a call at 877-818-8197 or 760-402-9101.

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San Diego Rear Yard Solution

by Roberta Murphy

San Diego is full of hills, with homes built upon them. As a result, much of San Diego real estate have yards with steep hillsides and upslopes begging for a solution.

I recall showing a home in Oceanside where the owners had terraced the hillside and created amazing vegetable gardens, interspersed with fruit trees. There was also a secret hideaway hidden by vegetation that offered a rustic reading bench and summer shade. In Carlsbad, La Costa and San Elijo Hills there are plenty of homes with upsloped rear yards and many owners have created beautiful terraced gardens.

Another solution for the more ambitious is a waterfall feature. We once set up a much simpler and shorter one compared to the beauty pictured–and enjoyed for several years the sound of falling water and the small fish pond below. It was a perfect backdrop for al frescoe dining in Southern California.

Landscaped waterfall

The one pictured at the top is actually from the Dominican Republic and and was created by Aquascapes, Inc. In San Diego, there are a number of landscape architects who can set up similar waterfalls–or the more ambitious might take on the the prpject themselves.

These hillsides are challenging, but if gardened or landscaped with a water feature, they can provide years of enjoyment and can hopefully increase the property’s value.

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