Open House in Point Loma April 30th

Open House 

Saturday April 30th from 1pm to 4pm

3209 Homer Street

San Diego, CA 92106

3209 Homer Street

This charming 4 bedroom / 3 Bathroom home is a must see!   With 2166 sq. feet, this is your chance to get into a great Point Loma neighborhood for a great price!  Offered at $998,000.

See you Saturday!  Click the picture for more information

Coronado Cays Open House this weekend!

I would like to invite you to a Open House I’m holding this weekend in the Coronado Cays.  This is a beautiful 3 Bedroom / 2 Bathroom condo which also includes a 36′ Boat Slip.  The asking price was recently lowered to $949,000, so if you’ve been thinking about making a move to one of the most beautiful parts of San Diego, this might be the one for you!
82 Antigua Ct. Coronado,
 CA 92118
82 Antigua
Offered at $949,000
Click the Photo for more details

Pocket Listing in Liberty Station / Point Loma! Unbelievable Deal

Act fast, because this is going to go quickly!  I have the inside scoop on a 3 bedroom / 3 bathroom townhome in the highly desirable, Liberty Station area of Point Loma.  It’s 1093 square feet and has a 2 car garage.   And the price………$600,000


If you aren’t familiar with Liberty Station, it was recently named one of San Diego Magazine’s top neighborhoods for 2016.   Walking distance to Trader Joe’s, the new Liberty Station Public Market, Waterfront Park, Stone Brewery and so much more, this is a great opportunity.

Call me today for more information!  619.736.9353

Thinking about Property Assessed Clean Energy (PACE)? Read this first!

Many of my clients are interested in home improvements that are energy efficient and there are some new ways to make these improvements with little or no money out of pocket.  However, there are some critical points to consider before deciding to move forward with some of the new options for homeowners.

According to the Union Tribune, “PACE (Property Assessed Clean Energy) financing can cover 100 percent of the cost of solar panels, green windows, artificial turf and other energy and water saving upgrades. The debt is tied to the property, not the individual homeowner, and repaid through an assessment added to the annual or semi-annual property tax bill”

While having 100 financing might sound enticing, there are some not so obvious factors to consider.  For example, since the debt is tied to the property, this could become an issue when you are looking to sell.  Also, lenders may have an issue with this when it comes to refinancing the property, so you will need to do some homework with your lender if you are going this route.  Additionally, the California Association of Realtors have pointed out that the interest rates and fees associated with the PACE program are considerably higher than alternatives, such as a second mortgage or Home Equity Line of Credit.

Check out the Union Tribune article HERE for more information and please feel free to contact me if you are considering any of these programs.


Interest Rates are crazy low! Now is the time to lock in long term financing

If you have been on the fence about refinancing or locking in financing for your new purchase, I would suggest you seriously consider making a decision soon.

According to CNBC, “Signs of weakness in the U.S. economy, in addition to trouble in overseas markets, pushed the yield on the 10-year Treasury to its lowest level since 2012, and mortgage rates followed south”

Mortgage Rates Falling


Sold in 24 Hours!

I just sold 1450 Camino Zalce in under 24 hours with an all cash offer.  If you have any thoughts of selling, please give me a call.  I have many buyers looking in San Diego and I’d love to find them a new home.  Happy New Year!

New Listing, not yet on MLS! Beautiful Townhouse in Fashion Valley!

Ready for a deal?  Get this one before it hits the MLS!

1450 Camino Zalce, San Diego, CA 92111

Location, location!! Walking distance to Fashion Valley Mall and Restaurants.   This meticulously kept home is close to the freeways, University of San Diego, and all the best San Diego has to offer.  Spectacular views from the balcony off the living room with an open kitchen looking into the family room.  The master bedroom features a walk in closet.   With inside laundry, 2 car garage, access to the complex pools and tennis court, what else could you ask for?   3 Bedrooms / 3 Bathrooms with 1923 Square Feet.  CALL NOW BEFORE IT HITS THE MARKET!  Offered at $529,900

1450 Camino Zalce San Diego CA-small-005-4-Living Room-666x444-72dpi1450 Camino Zalce San Diego CA-small-003-1-Exterior Front-666x444-72dpi1450 Camino Zalce San Diego CA-small-027-25-Patio-666x444-72dpi1450 Camino Zalce San Diego CA-small-020-19-2nd Floor Master Bathroom-666x444-72dpi

Higher interest rates ahead…what to do now!

On December 16th, 2015 the United State Federal Reserve announced that they would be raising interest rates by .25%.  This was huge news as rates have not been raised since 2006.    Although many leading economists believe this rate increases will be gradual and will not have a significant immediate impact on the housing market, this is still important news to pay attention to.   Here are a couple of thoughts about how you might be able to plan for a higher interest rate environment.

  1.  Lock in long-term financing:   If you have an adjustable rate mortgage, seriously consider refinancing to lock in a fixed rate if you plan on keeping your property long-term.   If property values go down in the future and your rate starts adjusting higher, this could result in problems refinancing your mortgage at that time if you don’t have enough equity.
  2. Lease to own:   If you are concerned about where home prices are headed, talk with your agent about the possibility of negotiating a “lease to own” agreement.  If the agent can negotiate this with the seller, you may be able to lock in a purchase price that is good for a specified period of time with a percentage of your rent payments going towards the purchase price.  If at the end of the lease term home values have dropped dramatically, you can opt to not buy the property.  Or, if the value has gone up, you can purchase it at the agreed upon price.

As always, feel free to contact me if I can provide any additional information or ideas.


Tax Deductible Items for 2015 Mortgages

If you bought a property or refinanced a loan in 2015, you will want to check out these Tax Deductible Items for 2015:

Points Paid on a Home Purchase in 2015

Item 803 on the HUD-1 – If the adjusted origination charges on line 803 include points paid to your mortgage company in exchange for a lower interest rate, you can deduct those points in the year paid… even if they are paid by the seller.

Points Paid on a Mortgage Refinance in 2015

Item 803 on the HUD-1 – If the adjusted origination charges on line 803 include points paid to your mortgage company in exchange for a lower interest rate, you can deduct those points in the following manner:

You can deduct over the life of the mortgage all points paid on the portion of the mortgage proceeds that were not used for home improvements (for example, if you refinance your mortgage to reduce your interest rate, but do not take any cash out for home improvements).

You can deduct this year all points paid on the portion of the mortgage proceeds that were used for home improvements (if you received cash-out and are using that cash-out for home improvements). Remember, any points paid on the portion of the mortgage NOT used for home improvements must be spread out over the life of the loan. For example, assume you refinance an old $200,000 mortgage into a new $300,000 mortgage and walk away with $100,000 to be used for home improvements. In this case, 1/3 of your points are fully deductible this year and 2/3rds of your points are deductible over the life of the loan.

Property Taxes (actual and pro-rated)

Items 106 and 107 on the HUD-1 – Property taxes are generally deductible in the year they are paid. These are listed as items 106 and 107 on the HUD-1. Whatever you put into your escrow account for property taxes is listed as items 1004, 1005, or 1006 on the HUD-1. These are deductible in the year that your mortgage company pays them. Assessments are listed as item 108 on the HUD-1, and these are generally not deductible.

Pre-paid Interest

Item 901 on the HUD-1 – Mortgage interest is calculated in arrears. This means that your monthly mortgage payment actually covers the month that just passed. For example, your February payment covers the interest for the month of January, your January payment covers the interest for the month of December, and so on. Oftentimes, when you refinance a mortgage or buy a new home, you “skip” a month’s worth of mortgage payments. That is why you sometimes pay “daily interest charges” on line 901 of the HUD-1 statement. These daily interest charges cover the interest for the current month. If your mortgage interest is deductible, then anything you pay on line 901 is also deductible (this will be included in the 1098 statement that you receive from your mortgage company).

Previous Year Points Not Yet Deducted

You may be able to deduct the remaining portion of the original points paid on an old mortgage if you refinanced that old mortgage in 2015. For example, assume you paid points on a refinance transaction 3 years ago. You probably were not able to deduct all the points you paid in the year they were paid. Instead, you had to spread that deduction out over the 30-year life of your mortgage. So, assume you’ve deducted 3/30ths of those points so far, and you refinanced your mortgage again in 2015. You can now deduct the remaining 27/30ths of those old points that you have not yet deducted.

Pre-Payment Penalties

A pre-payment penalty paid on an old loan would be deductible on your 2015 tax returns as long as the new loan was taken out with a different lender than the old loan.

Other Closing Costs

Closing costs not mentioned above are not tax deductible. However, they are added to your “tax basis” for purpose of calculating your capital gain when you sell the property. In other words, you may be able to reduce your capital gains tax (if applicable) when you sell the property in the future because your home purchase closing costs get added to your cost basis.

Distinction Between a Qualified Residence and an Investment Property

Everything mentioned above pertains to a mortgage transaction involving a primary home or vacation home that is elected as a “qualified residence” for tax purposes. If your transaction involved an investment property, see IRS Publication 527 (