HotelDel DownTown Sunset

 

 

Greetings from Jennifer Ross -  Realtor

 

Alexandra Italian My daughter Alexandra was home for a brief stay during Christmas.  She's now spending a semester abroad in Florence Italy and having the time of her life!  The trip over was tough... San Diego to New York, to Munich to Florence.  Unfortunately,  I had recently watched the movie "Taken" which was not a smart move on my part.  But on each lag of her trip,  I received a text saying "I've arrived and haven't been taken yet!"   Upon her arrival in Florence she took a taxi to a hotel where students from all over the world met and had a three day orientation and recovery period.  The students had no idea who their host families were until the families arrived to pick them up after orientation.


Alexandra lucked out and has a wonderful family.  The mother is a professor at Syracuse University in Florence where she teaches Italian and Women's Studies.  She has a 20 year old son who is also a student at Syracuse.  Their 3 bedroom flat is in the center of Florence and only a ten minute walk to the University.  Each weekend the school takes the students on trips.  In addition to her classes she hopes to get an internship with at an online fashion/food TV magazine where she will edit short films.   Next weekend she visits Venice for Carnival! 


La vita bella! (Life is good)

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WineThe Winner of This Month's Drawing Is... 

 

Marion Sousa!

Marion has won a $50 restaurant gift card. Congratulations!


The next drawing will be in a few weeks......

 

 

News & Views 

 

There is lots of real estate news this week.  For all of 2012, sales were up 9.2 percent to 4.65 million units, the highest volume since 2007. Median prices nationwide averaged $180,800, up 11.5 percent. Here in the West, sales rose 5.1 percent in December while the median price was $239,900, up 17.3 percent from December 2011.
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Another report out this week from Zillow shows U.S. home values ended 2012 with an annualized increase in value of 5.9 percent. Here in San Diego, home values rose 10.0 percent for the past year to an average of $373,400. The Zillow report shows some of the hardest hit real estate markets in the United States bounced back with a vengeance last year with prices in Phoenix up 22.5 percent, Las Vegas up 13.9 percent, and Denver up 12.1 percent.

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A survey of real estate professionals and homebuyers expect the market in 2013 to be even better than last year. People surveyed by Point2Homes, an online search engine, were especially optimistic here in California (50 percent).

 

 

 

5 Ways The American Taxpayers Relief Act May Affect You  


This month, Congress reached an agreement in the "fiscal cliff" negotiations, and President Obama signed the American Taxpayers Relief Act into law.


Here are 5 housing-related provisions included in the federal law:

  1. Mortgage Forgiveness Debt Relief Act extended for one year
  2. The "Pease Limitations" that reduced the value of itemized deductions, including the mortgage interest deduction, are permanently repealed for most taxpayers but will be reinstituted for high income filers. This provision reduces a taxpayer's itemized deductions by 3 percent of the amount of his or her adjusted gross income (AGI) that exceeds the threshold amount. Under the new law, the Pease thresholds are $300,000 for married taxpayers filing jointly and $250,000 for single taxpayers (i.e., a married couple with an AGI of $400,000 would be $100,000 over the threshold; the couple's deductions would be reduced by $3,000 which is 3% of $100,000). No matter how high a taxpayer's AGI, the Pease reduction cannot exceed 20 percent of the amount of itemized deductions otherwise allowable for the year.
  3. The restoration of a tax deduction for mortgage-insurance premiums, including premiums paid to the Federal Housing Administration and private mortgage insurers. This provision expired at the end of 2011 but has now been retroactively extended for all of 2012 as well as 2013.
  4. 10 percent tax credit (up to $500) for homeowners for energy improvements to existing homes is extended through 2013 and made retroactive to cover 2012.
  5. Capital gains rates will remain at 15 percent for those earning less than $400,000 (individual) and $450,000 (joint). Gains above those income levels will be taxed at 20 percent. Gains on the sale of principal residences will remain unchanged and continues to exclude the first $250,000 for single taxpayers and $500,000 taxpayers filing jointly.

 

 

Famous Quotes

 

Laughter is the shortest distance between two people.
Victor Borge


Laughter is an instant vacation.
Milton Berle


The difference between genius and stupidity is; genius has its limits.
Albert Einstein


A woman's mind is cleaner than a man's. She changes it more often.
Oliver Herford

 

 

 

As always, feel free to give me a call 800-913-7677 with your real estate needs.  I appreciate your referrals.
 
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Acedemic Earth 

 

Jennifer Ross

 

Experience Counts!
Over 24 years in
Real Estate sales
Serving all of San Diego

 

Office: 800.913.7677
Direct: 619.985.7340
JennRossRealtor@gmail.com

 

 

 

 

Current Mortage Rates

 (BankRate.com weekly avg)

 30 yr fixed: 3.66%

15 yr fixed: 2.94%

 

 

 

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