BJJB magazine Reflection of the Properties that Make Santa Cruz LIFESTYLE Great!
Local Artists
Building a Craftsman
Market Report March
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LETTER TO READERS
Dear Reader,
BJJB magazine over 3 years for then to find the home that reached their hearts. Not only was the home an artistic piece and featured in Sunset magazine. The seller was kind and sincere and blessed the new buyers with a personal catered celebration right before closing. It is these moments that remind Josh and I that selling homes is really connecting people to great and meaningful experiences.
Brandi and Josh here for BJJB magazine! It is March, and it has rained. It’s true, We saw it on Facebook! Josh and I in February were fortunate enough to get awards for working at David Lyng (see back page). Valentine’s Day was fun as we took Josh’s son, Ryder, out to Hula’s downtown. He loved it, it was like Disneyland to him since it is somewhat theatrical in decor! He is a boy with finicky taste who ended up enjoying the calamari, ceviche, the chicken wings. We enjoyed the pork tacos, sweet potato fries, and the spicy edamame. We felt like we were on an island enjoying the tropical fun!
Josh and I also decided to get new business photos. If you like them, we went to Annie Rowland across from Bay Photo on Soquel in Santa Cruz. And finally, since there has been more rain than sun, volleyball has been hard to play, Josh and I have had “friendly competitions” challenging each other to games of Cribbage. He has handedly beat me 3 :1, but now that I have my new app he is in it for it. Enjoy this issue!!!
February was also the close of some difficult chapters. Some of the toughest transactions that took wide crazy turns calmed down and ended in peace and happiness...this goes out to you especially Jami;) Other great news is that special clients found their long time dream home. It took
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ITEM OF VALUE
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BJJB magazine What’s the Tax Benefit to Owning, Ryan Hi, Ryan here, let’s talk taxes.
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If you're among the new property owners, congratulations!
You've just taken another step up the American-dream ladder as a new homeowner. Now you can pat yourself on the back and indulge in a variety of tax deductions available for homeowners. There is much confusion about what can and cannot be deducted regarding home ownership. Every situation is a little different, and seeking professional tax advice prior to using these suggested home ownership tax benefits is advised. As you know, mortgage interest is deductible for up to two homes (rentals are excluded with a few exceptions). What many new homeowners do not realize is the portion of interest generally paid upfront at the closing is also tax deductible. If the purchase date is after the first day of the month, interest is due between the purchase day and the close of escrow. Remember to take advantage of this homeownership tax benefit. In addition, loan discount points and origination fees (for investors) are also generally tax deductible for the year you made the purchase. You can deduct the points you paid as well as those a seller paid on your behalf (see next item) if you meet the following criteria:
The loan is secured by your primary residence; The loan was used to buy, improve or build the home; Paying points is a common practice in the seller’s geographic area; The points are calculated as a percentage of the loan principal; The points are clearly outlined on the buyer’s settlement statement; and The amount of cash you put into the purchase of your home (down payment, closing costs, etc.) is at least equal to the amount you were charged for the points you paid on the loan. And guess what, it doesn't matter who paid these fees for the new homeowner to deduct them! Even if the seller pays the costs, you can deduct them off of your tax return - who knew? Real estate taxes are also tax-deductible. Your 1098- interest statement should list the total amount of real estate taxes paid if you escrowed your taxes and homeowners’ insurance. If taxes and insurance are not held in escrow, review canceled checks to figure out the total amount of real estate taxes paid. 3
LENDER’S VOICE
BJJB magazine
Taxes cont . Homes purchased with less than 20% down payment will most likely have to pay private mortgage insurance. However, according to the Tax Relief Act of 2006, homeowners can deduct monthly PMI payments in Schedule A in the federal tax return. Homeowners with a VA/ FHA loan and Rural Housing Administration loan also qualify. In order to qualify, the home loan must have closed after December 31, 2006 and the adjusted gross income up to $110,000 ($50,000 if married filing separately). From what we understand, this advantage is unfortunately phasing out as of December 31, 2013 so this is the last year to file for this incentive. Lately, our team is seeing more and more of 1031 Exchanges, this allows borrowers to defer the capital gains taxes indefinitely, for as long as they own the property, even until death. A borrower must make their intention known prior to the sale of the original property to avoid paying capital gains tax if they are about to buy another property. The borrower has 45 days after the sale to identify a property and be in contract, then 180 days to close on the purchase of a new property. There were no tax reliefs for natural disasters in California, thankfully, but for a complete list check: http://www.irs.gov/uac/Tax-Relief-in-Disaster-Situations. The federal government is encouraging homeowners to think “green” by offering tax credits for those that make home improvements making their homes more energy efficient. To get a complete list of all the energy efficiency credits available, please visit the Energy Star website. Hopefully our information places a little light on the dreaded tax season, or at the very least plants a seed for ways to maximize your investments. Give Ryan a call if you would like to further investigate some of the advantages of owning a home from a financial perspective.
Ryan Buckholdt
Mortgage Advisor DRE 01196245 | NMLS 319442 www.ryanbuckholdt.com 831-425-TEAM 4
Single Level Craftsman Make This Brand New SV Home Yours! San Augustine., Scotts Valley One of the most popular styles and truly all American in origin is the Craftsman style from the 1920’s. This is one of the only homes that is a custom, new, Craftsman Style in a highly reputable neighborhood in Scotts Valley. Close to the high school and next to Scott’s Valley market (best sandwiches) and Starbuck’s, this is also a very easy location for those that commute. Seller is taking offers now while in construction. Asking price $1,259,000. Call with questions.
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Street Car life The Most Unique Home In Santa Cruz 203 Blackburn Ave, Santa Cruz 1920’s Santa Cruz streetcars make up this unique historic 1 bed/ 1 bath home in the Neary Lagoon neighborhood of downtown Santa Cruz. The “loraxlounge” treehouse sits 30 feet high in a robust oak next to the house, welcoming all who enter. In addition, the property boasts two beautiful and original “cob” structures (200 and 80 sq ft) that can be used as yoga/massage/meditation rooms, playhouses, or office space. A cob kitchen (50 sq ft) is attached the larger cob structure. A chicken coop, a wood-fired barrel sauna, a pond, a wood-fired cob oven, a laundry room, three storage sheds, and two rear decks add to the comforts of the sunny and lush backyard, complete with mature avocado, plum, apricot, apple, pear, and almond trees. Soil is great for gardening. This ideal location is walking/biking distance to schools, beach, downtown, buses, and highways. Quiet and diverse neighborhood. Three street parking permits are attached to the property. Large cob house may be eligible for ADU upgrade and additional rental income ( non-habitable permit in process). Property is energy efficient with very low utility bills year round. Own, live in, and be a part of one of Santa Cruz’s most unique properties. 7
Build Your Dream Home Can’t find a home on the market? Then build one! 118 & 127 Burlwood Dr., Scotts Valley Been in multiple offers, can’t find the right house, or tired of renting...then here is a golden opportunity. 2 lots in a highly desired neighborhood in Scotts Valley because of the great neighbors, easy commute to Silicon Valley, and high rated schools. These lots are your canvas. Build a craftsman, modern design, or a vintage mid-century modern home. We have the best designers, architects, and contractors at our finger tips to assist you through the process. Live the life you deserve and build your dream home and settle in a warm sunny great neighborhood. Each lot has a land use report. 118 Burlwood is over 14,000 sq. ft. and offers great views of Scotts Valley. 127 Burlwood is corner lot over 17,000 sq. ft. and has all utilities and is mostly flat. Call for more information. 7Â
LOCAL ARTISTS
BJJB magazine
Marilia Lutz
127 BURLWOOD DR, SCOTTS VALLEY– vacant lot $500,000 8
Marilia Lutz , an artist and painter, moved from Philadelphia with her husband seven years ago to Oakland. Seeking to escape the hustle and bustle, they now live and enjoy life in the natural surroundings of the Santa Cruz mountains - their small cabin in the woods is the perfect spot for inspiration and creativity. About a year and a half ago they met Brandi Jones in an open house in the area, and thanks to her they where able to find their Boulder Creek home. Marilia's body of work is comprised of several oil paintings from a variety of themes, including landscapes, still lifes, and figurative representations. Her style blends realistic interpretation with a touch of symbolism, a style she defines as "symbolic realism". With a colorful and vivid pallet she memorializes her travels, her garden and the places she's lived. Currently under construction by her husband is the "ArtPod", Marilia's art studio near their cabin. The "ArtPod" will be not only a work space but a community place for visitors and artists to meet, enjoy, and exchange artistic experiences. Recently, Marilia had one of her paintings on display at the Santa Cruz Art League during a member's show. Look for more showings and the soon to be open ArtPod in Boulder Creek in your local listings. You can reach Marilia at her email molutz@msn.com.
ARTISTS
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Marilia Lutz cont.
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NEWSLETTER
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NEWSLETTER
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NEWSLETTER
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OTHER LISTINGS
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Off Market SCOTTS VALLEY SINGLE LEVEL $1,259,000 3BD 3500 sq. ft.
Coming Soon 681 HARBOR COVE, SANTA CRUZ 3 BD/2.5 BTH
Active
203 BLACKBURN, SANTA CRUZ $525,000 many rooms 13
OTHER LISTINGS
BJJB magazine
Pending 200 LUPINEVALLEY RD, APTOS $1,050,000 3BD/3BTH
Active 118 BURLWOOD DR, SCOTTS VALLEY –vacant lot $450,000
Active 127 BURLWOOD DR, SCOTTS VALLEY– vacant lot $500,000 14
Award recipients
2013
DAVID LYNG & ASSOCIATES
Sales Associate of the Year Highest Number of Listings Sold
Brandi Jones
Highest Total Sales Volume
President’s Club Elite
Joshua Bacorn
We Believe Everyone Deserves the Best Service and Experience! ]ÉÇxá
JOSHUA BACORN
BRANDI
REALTOR, cal BRE#01884101 CELL: 831-818-4321 JBACORN@DAVIDLYNG.COM WWW.JOSHUABACORN.COM 2170 41ST AVE, CAPITOLA, CA 95010
REALTOR, cal BRE#01385191 CELL: 831-588-5145 BJONES@DAVIDLYNG.COM WWW.BRANDIJONESREALTOR.COM 2170 41ST AVE, CAPITOLA, CA 95010
SALES ASSOCIATE OF THE YEAR ‘10, ‘11, ‘12, ‘13
PRESIDENT CLUB CHAMPION & ELITE ‘12, ‘13
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