Our New RB Listing

12705 Coachman Ct., Poway

3 br + den/2 ba., 1,878sf

YB: 1978

10,000sf lot

No HOA

SP = $1,400,000 – full price! We represented the seller.

Already gorgeous and now thoroughly renovated, this one-story charmer has all the hot buttons – remodeled white kitchen and baths, lighter hardwoods, high ceilings, new roof, solar, walk-in closet, RV parking, no HOA, low-maintenance yard, and walking distance to coffee or church! Secluded on an elevated 10,000sf corner lot with good privacy, this creampuff is enhanced by the easy indoor/outdoor transition that creates multiple entertaining areas! The address says Poway but RB is only a block away so freeway access is excellent. Larger than most of the RB homes nearby, and in great shape – perfect for downsizers!

https://www.compass.com/app/listing/12705-coachman-court-poway-ca-92064/1491452415519165793


Open 12-2pm on Saturday, January 21st!

Our New RB Listing

12705 Coachman Ct., Poway

3 br + den/2 ba., 1,878sf

YB: 1978

10,000sf lot

No HOA

LP = $1,400,000

Already gorgeous and now thoroughly renovated, this one-story charmer has all the hot buttons – remodeled white kitchen and baths, lighter hardwoods, high ceilings, new roof, solar, walk-in closet, RV parking, no HOA, low-maintenance yard, and walking distance to coffee or church! Secluded on an elevated 10,000sf corner lot with good privacy, this creampuff is enhanced by the easy indoor/outdoor transition that creates multiple entertaining areas! The address says Poway but RB is only a block away so freeway access is excellent. Larger than most of the RB homes nearby, and in great shape – perfect for downsizers! Three bedrooms PLUS den!


Open 12-2pm on Saturday, January 21st!

Alec Baldwin Pitches His House For Sale

Why don’t more celebrities do this? They are used to being in front of the camera!

Alec Baldwin’s Hamptons home, first listed for $29 million in September, 2022, has returned to the market at $18.995 million, touting the rarity that the five-acre property in Amagansett’s Estate Section can accommodate two large residences.

https://behindthehedges.com/alec-baldwin-hamptons-property-expansion/

Joe Jackson

Filmed at Paradiso in 2019:

Paradiso is a Dutch music venue and cultural centre located in Amsterdam. Originally a nineteenth-century church used by the “Vrije Gemeente” (Free Congregation), it was squatted by hippies in 1967, seeking to turn it into a leisure club. The city officially opened it as a youth entertainment center in 1968, quickly becoming a focal point for the counterculture movement and associated with the era’s rock music. Paradiso also became one of the first places where soft drug use and sales were tolerated. Over time, it has diversified its programming to include lectures, plays, classical music, and crossover artists. Some of the world’s biggest music acts, including AC/DC, Adele, David Bowie, Madonna, Nirvana, and The Rolling Stones, have performed at Paradiso. Key performances include Pink Floyd’s 1968 concert, Glen Matlock’s last gig with the Sex Pistols in 1977, and The Rolling Stones’ semi-acoustic concerts in 1995, which Keith Richards claimed were the band’s best live shows.

America’s Friendliest

Few of us are clamoring to live where hostility and ill-temper rule the social structure. You don’t hear friends and colleagues looking through real estate ads to find a neighborhood full of discontent and aggression. Instead, people clamor to find real neighborhoods that feel like the friendliest TV towns, such as Stars Hollow, Pawnee, and Schitt’s Creek.

But that made us wonder whether America had any areas that resemble these friendly but fictitious towns and what elements help to create these neighborhoods in real life. So we conducted a study to determine which American cities are the friendliest.

We compiled a list of popular neighborhoods across the United States based on the 200 most-viewed city neighborhoods on Zillow in 2022. Then we analyzed nearly 150K Google reviews from the past year for businesses in those neighborhoods.

From banks and bars to coffee shops and grocery stores, we analyzed the reviews of businesses people regularly visit, using the percentage of reviews with the word “friendly” in them to determine our rankings. This post details what we discovered so you can see how your city measures up.

https://allstarhome.com/resources/friendliest-neighborhoods-in-america/

Del Mar Flip

The MLS has 14 SFR sales under $2,000,000 over the last 12 months in the 92014 – or about one per month. This flip is priced at $2,399,000 now after being on the market for a couple of weeks towards the end of last year for $1,999,999. They paid $1,665,000 in August.

Capital-Gains Tax for Homesellers

Dear Liz: My husband died in November 2022. I was told that if I sell the house within two years of his death, I can benefit from two capital gains exclusions, his and mine, each for $250,000. The house was appraised at $912,000 based on his date of death. I don’t imagine it would sell for much more than that now. Can you tell me approximately what I would owe in capital gains? My tax rate is 24%.

Answer: That’s a great question to ask a tax pro, since there are a number of variables involved.

If you live in a community property state such as California, then both halves of the property got a favorable step-up in tax basis when your husband died. That means the house’s new tax basis would be $912,000.

If you don’t live in a community property state, then only half of the house got the step up at his death (to $456,000, or half of $912,000). The other half — yours — retains its original tax basis. If the original purchase price of the home was $300,000, for example, your basis would be $150,000. The home’s total basis would be $606,000 (which is $456,000 plus $150,000). If you sold the house for $912,000, your capital gain could be $306,000, which would be well below the $500,000 exemption you could take if you sell the house within two years of the death. If you sell after the two-year mark, the gain above your single $250,000 exemption would be taxable.

The rate you would pay depends on your taxable income and what state you live in.

For example, a single person with taxable income of between $47,026 and $518,900 in 2023 would pay a 15% federal capital gains rate, plus whatever rate their state imposes. (California doesn’t have a separate capital gains tax system, so any taxable gain would be subject to the state’s regular income tax.)

These numbers are just to give you an idea of how capital gains taxes work. Your mileage may vary. If you renovated the kitchen or did any other significant improvements on the home, those costs could be added to your tax basis to reduce any potentially taxable gain. Also, selling costs will reduce what you actually pocket from the sale and your potentially taxable gain. For more information, see IRS Publication 523, Selling Your Home.

Taxes shouldn’t be your only consideration, of course. Relocating can be disruptive and expensive. Getting the house sold before the two-year mark makes sense if you were planning to move anyway, but don’t let fear of taxes scare you out of a home that otherwise suits you.

Frenzy Monitor

The most interesting part of this graph is that in 2023 the number of active listings stayed about the same from mid-January to mid-April as the market got off to a fast start. The number of pendings were steady too, all while 573 sales were closing between Jan 1 and April 30, 2023.

If 2024 gets off to a slower start, we will see it in the number of actives trickling upward.

Inventory Watch

NSDCC Listings, January 1-15

2023: 100

2024: 99

You could say that the 2024 inventory is tracking very closely to last year’s numbers! There will be extras added to this year’s count, so comparatively, we can guess that the 2024 count will be 110-115 or so.

But look at the difference in the graph above.

Last year got off to a fast start as the number of pendings picked up right away….but not this year. The actives are there, but they aren’t flying into escrow like last year.

Our open house had a similar result. lots of attendees, glowing remarks, hints of offers, but we’re not in escrow yet. I only saw a handful of other open houses, but the results looked the same – lots of people milling about, but that’s about it.

A slower start probably means that the inventory is still very thin, which makes it hard to compare. Mortgage rates are about the same as they were last January, so that’s not it – but the rate expectation is way different, with Fed moves expected over the next few months. It could cause buyers to be very deliberate in the early going.

Hopefully, the pendings count will increase over the next few days as the fruits from the weekend are logged. But the actives are surging ahead for now.

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