Greetings from Jennifer
Ross - Realtor
who know me well, know that I can fall asleep anywhere, anytime if
I'm tired! I actually fell asleep, with mouth open and tiny
drool, during Disney's Musical "The Lion King". We
had aisle seats and the characters were performing inches from
me! But last weekend I saw Andrew Lloyd Webber's musical
"Cats" at the Civic Theatre and managed to stay wide eyed
during the entire production! The costumes, cat-like
movements, music, voices and dancing were amazing. I highly
recommend seeing it next tour - MEOW!
interest rates have dropped to a new all-time low. Fannie Mae reports
the average rate on a 30-year fixed-rate loan dropped to 3.89 percent
in the past week, the lowest since they started keeping records in
1971. The rate on a 15-year fixed-rate loan also hit a new low at
3.16 percent and, not to be outdone, the rate on a one-year
adjustable loan hit 2.76 percent. You guessed it, also a new low.
The latest home
value report from Zillow finds fewer metropolitan areas are reporting
declines in home prices. The report finds home values in December
appreciated or remained flat in 60 percent of the 165 housing markets
covered in the report, including San Diego. Interestingly, it
actually shows home valuations in San Diego County rose by $9.7
billion last year to $393.6 billion.
A report out
last week from American Express calls 2012 "The Year to Decorate
and Dash," saying 56 percent of households surveyed plan to
increase or maintain levels of spending. The biggest increases will
be dollars spent on travel and home improvement.
Your odds of
getting audited by the IRS are pretty much slim and none if your income
is below $200,000. That's the takeaway from the latest stats released
by the agency recently. However, higher income taxpayers are being
looked into more aggressively. The IRS data finds 12 percent of
millionaires were audited in 2011 compared with 8 percent in 2010 and
6 percent in 2009. Overall, 1.6 million individual returns were
audited last year, slightly more than 1 percent of the 141 million
returns filed in 2011.
Most-Overlooked Tax Deductions
Don't let a knowledge gap prevent
you from taking advantage of these money-saving tax breaks.
Every year, the IRS dutifully reports the most common blunders that
taxpayers make on their returns. And every year, at or near the top
of the *oops* list is forgetting to enter their Social Security
number at the top of the tax form -- or making a mistake when
entering those nine digits.
But think about it for a minute: Do you think that's the most common
mistake... or simply the easiest to notice?
One thing we know for sure is that the opportunity to make mistakes
is almost unlimited, and missed deductions can be the most costly.
About 45 million of us itemize on our 1040s -- claiming more than $1
trillion worth of deductions. That's right: $1,000,000,000,000, a
number rarely spoken out loud until Congress started tying itself up
in knots trying to deal with the budget deficit and national debt.
Another 92 million taxpayers claim about $700 billion worth using
standard deductions - and some of you who take the easy way out
probably shortchange yourselves. (If you turned 65 in 2011, remember
that you now deserve a bigger standard deduction than the younger
Yes, friends, tax time is a dangerous time. It's all too easy to miss
a trick and pay too much. Years ago, the fellow who ran the IRS at
the time told Kiplinger's Personal Finance magazine that he figured
millions of taxpayers overpay their taxes every year by overlooking
just one of the money-savers listed in this article,
including refinancing points, credit for energy-saving home
improvements, and home-buyer credit.
of the Week
Surprise Singing Proposal
You may have
already seen this very popular video on the news! One, then two, then
many more 'passengers,' who were really Adam Street Singers, started
singing a romantic song on the subway, until the climax when a man
appeared and asked his girlfriend to marry him.
Just living is not enough. One must have
sunshine, freedom, and a little flower.
Hans Christian Anderson
As always, feel free to give me a
call 800-913-7677 with your real estate needs. I appreciate
Over 22 years in
Real Estate sales
Serving all of San Diego
yr fixed: 3.38%