As Rents Climb Higher, Owning a Palos Verdes Home Gains AppealI was reading an interesting article in the Wall Street Journal today about how home ownership is once again regaining popularity. You can read the full article by clicking on this picture below
But it got me to thinking, “…Ok, so that’s what is happening on the national scale, what about here in town, is that translating to Palos Verdes homes?…” Look what I discovered: To view a full size image, just click the image below. I guess it’s time to buy a home in Palos Verdes Estates …
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Tag Archives: terranea
Do folks correctly deduct for property taxes on Palos Verdes homes
Will the California Tax Man Come Looking for YOU?!Overlooked Property Tax Law as a source of RevenueDuring 2011, the California Franchise Tax Board (FTB) proposed a change to Schedule CA to require the information necessary to enforce an overlooked area of the real estate tax deduction. The real estate tax deduction applies to ad valorem taxes, the real estate tax amount based on the assessed value of a property. Taxes based on a direct levy or special assessment, such as Mello-Roos or various services provided to specific properties are generally not deductible. However, many taxpayers are not aware of this distinction and in practice most individuals or their tax preparers include the total property tax on Schedule CA. Until recently the FTB didn’t have the capability to determine whether the reported number included non-deductible taxes, but a computer system planned for 2012 will give the FTB that capability. The FTB had planned to enforce compliance stating this year by adding three lines to the 2011 state tax returns that would require property owners to show their parcel number, total property tax bill and the deductible amount. On November 1, 2011 the FTB announced the decision to delay the change to Schedule CA for a year and use 2012 to educate taxpayers and preparers on the rules. The board encourages voluntary compliance for 2011 tax returns and plans to enforce the rules on the 2012 Schedule CA. As part of the education effort, the FTB created a page on their website called Understanding the Real Estate Tax Deduction that explains the rules and provides an example tax bill with the ad valorem taxes and direct levies or special assessments broken down. For the 2011 tax year, some preparers are requiring their clients to bring in the county property tax statement before they will include the deduction in the Schedule CA. The FTB estimates that the change will bring in an additional $200 million of revenue per year and that voluntary compliance could bring in $20 million this year. |
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Japanese Garden Home in Portuguese Bend
Palos Verdes Homes Absorption Trends
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As always, no one can claim any clarity with a “crystal ball”. That being said, I found this article interesting and may give some clue as to what is happening nationally with real estate. Of course one of the oldest real estate sayings other than “Location, location, location” is that “All real estate is local” … meaning, it really doesn’t matter too much what is happening nationally, it’s all about what is happening on the local level. For example, real estate in the last 3 or 4 years has behaved much differently for Palos Verdes homes than it has for Riverside homes.
“The 2012 outlook is improving modestly from a disappointing 2011. Economic growth picked up in the fourth quarter of 2011 to 2.8 percent and is expected to come in at 2.3 percent for 2012, up from 1.6 percent growth for all of last year, according to Fannie Mae’s (FNMA/OTC) Economic & Strategic Research Group…” To read more, go here http://www.fanniemae.com/portal/about-us/media/financial-news/2012/5650.html For more information on Palos Verdes homes and Palos Verdes real estate, you’re welcome to visit my website at http://www.homeispalosverdes.com |
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Sell Palos Verdes Estates real estate for more money
Selling a home in Palos VerdesIt’s all about E X P O S U R E !Of the many venues available to expose and market real estate in Palos Verdes, Realtor.com is one of the best. It’s no wonder that my investment in marketing my sellers homes pays off with faster sales and higher prices for my sellers all due to creating more buyers competing for the property.
Of the nearly 6,000 agents in the South Bay area of Southern California, there are only EIGHT maximum agents that can expose your Palos Verdes home for sale on Realtor.com as a FEATURED LISTING. This added exposure is essential to getting the highest price in the shortest period of time and with the least amount of inconvenience for my sellers. When you’re ready to sell your Palos Verdes real estate, how can you possibly afford not having this benefit. |
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Knowing what the Fed is thinking helps when buying or selling Palos Verdes real estate
Want to know a Secret about what the Federal Reserve is thinking?Did you know that on January 25th the Fed will begin to publish their predictions about interest rates? From the “Daily Real Estate News” at Realtor.org, “Beginning Jan. 25, the Federal Reserve will start to publish a forecast four times a year that includes predictions about the direction of short-term interest rates, The New York Times reports. The report will include a summary of how long the Fed expects to keep short-term rates at current levels.” You can read the rest of the story here So now you have a new tool to help you decide when you’re buying or selling Palos Verdes real estate.
And now that interest rates are so low, what a great time to own a dream home in the Lower Lunada Bay area of Palos Verdes Estates… This is a piece of Palos Verdes real estate to be cherished a lifetime! |
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What’s selling now in Palos Verdes Real Estate
A quick look at the $1,000,000 – $2,000,000 Palos Verdes Real Estate market placeThere are homes for sale in Palos Verdes CA, there are homes that represent the closed sale Palos Verdes real estate market and then there are homes in Palos Verdes that are in escrow now. It’s the homes that are in escrow now that give us the best “today” snapshot of what buyers are accepting in today’s market.
View 1.0 – 2.0mm Palos Verdes Homes In Escrow in a full screen map DRE 785373 |
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Whale Watching from Palos Verdes Real Estate
Gray Whale Season Underway“Gray whales are beginning travels along the Southern California coast now as they make one of the longest mammalian migrations known to man. The journey from the Bering and Chukchi seas to the lagoons in Baja California and back averages between 10,000 to 14,000 miles.
“We have been seeing more and more gray whales every day,” reported Scott Louie from Harbor Breeze Cruises in Long Beach. “Add in literally thousands of dolphins and an occasional orca sighting and this is a terrific time to be on a whale watching trip.”” To read the rest of this article written by Philip Friedman at Patch.com, go here http://santamonica.patch.com/articles/gray-whale-season-underway-d72fb665 |
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Protect Your Palos Verdes Ocean View Real Estate
Do You Have A View?Can you count on it EVERY DAY to be crystal clear?I advise my ocean view and city light view homeowner clients constantly, “take pictures of the views when the weather is crystal clear”. We had incredible winds last night that made it beautiful today. Get your cameras and take pictures. Sure enough, if you don’t, and some day when it comes time to sell your home that has as one of its most high demand features, the ocean view, you will regret not having your view shots!
So, as soon as you’re done reading this … grab your camera and GO TAKE SOME PICTURES! For more information on Palos Verdes homes for sale and how to maximize your benefits as a home owner, buyer or seller of Palos Verdes real estate, visit my website, www.homeispalosverdes.com |
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Senior Living Options in Palos Verdes
Senior Living Options in and around Palos VerdesMany of my clients who are seniors and adult children of seniors have asked me about what residential living options exist. Here are some that you might want to research. Recently built in 2008 Rolling Hills Villas feature 7 different floorplans. There are 42 units total in the Rolling Hills Villas. Their website shows floorplans, video and more ASSISTED LIVING OPTIONS IN PALOS VERDES:
For more information on Palos Verdes real estate and Palos Verdes Homes for Sale as well as real estate trends in Palos Verdes, you are welcome to visit my website at http://www.homeispalosverdes.com Thank you. |
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