Archive for March, 2015

Tax Time | Red Flags That Increase Chances of a Tax Audit

posted on March 30th, 2015 | filed under: Business Referral, Good People, Taxes

taxtimeclockIf you are in need a referral for a qualified tax consultant, please call me and I can introduce you to someone I know and trust.

Kiplinger’s 12 “red flags” that could increase your chances of a tax audit:

  • Making Too Much Money – Your chances of being audited are increased if you make more than $200,000.
  • Failing to Report All Taxable Income – The IRS gets copies of all of your 1099s and W-2s. If things don’t match up, it’s quickly detected in the IRS’s computer system. If you receive a 1099 that reports incorrect income, ask the company you worked for to file a correction right away.
  • Taking Large Charitable Deductions – If your charitable deductions are too large in comparison to the amount of money you make, it raises a red flag.
  • Claiming Home Office Deductions – The space you claim for working at home must be used solely for work purposes, on a regular basis.
  • Claiming Rental Losses – The IRS takes a close look at rental real estate losses written off by taxpayers who say they are real estate professionals. Or, if your adjusted gross income exceeds IRS guidelines for this deduction, it raises a red flag.

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posted by Jeff DeChamplain // Leave A Comment

Market Update | San Diego Market Continues to Moderate

posted on March 16th, 2015 | filed under: Buying Strategies, Market Update, NoCo SD Market Conditions, Uncategorized

Trends At A Glance - Apr 2015Although prices continue to rise in San Diego County, the median price for single-family, re-sale homes has increased by single-digits, year-over-year, for the past eleven months in a row.

This is after nineteen straight months of year-over-year double-digit gains.

The question becomes is the market just taking a pause or are we creeping up to a new high?

It’s a toss-up. The economy is getting better. But will more jobs and more wage increases translate into higher demand, thus pushing prices even higher.

This should be an interesting year. Stay tuned!

FEBRUARY SALES STATISTICS

Year-Over-Year

  • Median home prices increased by 7.8% year-over-year to $485,000 from $450,000.
  • The average home sales price rose by 14.0% year-over-year to $645,801 from $566,491.
  • Home sales fell by 3.9% year-over-year to 1,517 from 1,579.
  • Total inventory* fell 12.2% year-over-year to 8,032 from 9,145.
  • Sales price vs. list price ratio fell by 0.2% year-over-year to 97.6% from 97.8%.
  • The average days on market rose by 12.1% year-over-year to 57 from 51.

Compared To Last Month

  • Median home prices improved by 0.3% to $485,000 from $483,750.
  • The average home sales price fell by 0.5% to $645,801 from $648,833.
  • Home sales up by 11.5% to 1,517 from 1,360.
  • Total inventory* increased 6.9% to 8,032 from 7,513.
  • Sales price vs. list price ratio increased by 0.6% to 97.6% from 97.1%.
  • The average days on market dropped by 5.3% to 57 from 60.

CONDOMINIUMS

Year-Over-Year

  • Median home prices increased by 13.3% year-over-year to $350,000 from $309,000.
  • The average condo sales price rose by 12.1% year-over-year to $412,728 from $368,323.
  • Condo sales rose by 1.3% year-over-year to 625 from 617.
  • Total inventory* rose 1.6% year-over-year to 2,941 from 2,895.
  • Sales price vs. list price ratio fell by 0.7% year-over-year to 97.5% from 98.2%.
  • The average days on market rose by 3.1% year-over-year to 56 from 54.

* Total inventory includes active and pending listings.

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posted by Jeff DeChamplain // Leave A Comment

SOLD! – Ocean Views in Carlsbad | Alta Mira II

posted on March 4th, 2015 | filed under: Uncategorized

Ocean Views in Carlsbad | Alta Mira II OCEAN VIEWS!…from Living Room, Master & Balcony. Updated, spacious, single level, end unit. Kitchen has new granite counters, recessed lighting & tile flooring. Bathrooms have new vanities, fixtures, granite counters & tile flooring. Large living room/dining area has new wood laminate flooring & an abundance of windows. Both bedrooms have new carpet, crown molding & master opens to balcony. Single car detached garage in desirable Alta Mira II complex with lush grounds, walkways, pool/spa, clubhouse. More Info | Now offered at $487,900

posted by Jeff DeChamplain // Leave A Comment

Jeff DeChamplain