Mortgage Insurance is Tax Deductible
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What types of mortgage loans qualify for the mortgage insurance tax deduction? Loans used for “acquisition indebtedness” — that is, money borrowed to buy, build or substantially improve a residence — are eligible, as long as the debt is secured by the same residence. This includes purchase loans and refinance loans, up to the original acquisition indebtedness. (Money that homebuyers borrowed against the equity in a home or when refinancing a home for any reason other than to buy, build or substantially improve a residence is called “equity indebtedness.”)
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When borrowers refinance a piggyback loan they originally used to acquire a property, does the IRS consider the original loan amount as the sum of the two mortgages or only the primary mortgage amount without the second lien included? The IRS considers original acquisition indebtedness to be the sum of the two mortgages. Is deductibility applicable for all loan types? There is no differentiation among loan types.
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What types of properties are eligible for tax deductibility? The deduction applies to “qualified residences,” as defined in the Internal Revenue Code. Generally, that includes the borrower’s primary residence and a nonrental second home. As with mortgage interest, borrowers can deduct mortgage insurance premiums that they have paid on both their primary residence and one other qualified residence each year. Investor loans are not eligible.
619 E Avenida San Jaun South East San Clemente 4 Bedrooms - 2.5 bathrooms - 2,352 SQFT
Who qualifies for this itemized deduction? Households with adjusted gross incomes of $100,000 or less will be able to deduct 100% of their mortgage insurance premiums. Each additional $1,000 of adjusted gross household income reduces the deduction by 10%. The deduction phases out after $109,000.
$1,250,000 - $1,175,000
The IRS does not restrict the deduction to first-time homebuyers.
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Please contact your tax consultant to see if you qualify for these deductions.
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Married individuals filing separate returns with adjusted gross incomes of $50,000 or less will be able to deduct 50% of their mortgage insurance premiums. The IRS reduces the deduction by 5% for each additional $500 of adjusted gross income, phasing out after $54,500. See the table below for details.
The Rise of 2017 As the books were closed on 2016, many economic indicators were on the rise. Some signal good news for those in the market to buy a home. Housing Starts Surge For regions struggling with limited housing inventory, Housing Starts may provide some hope. December Housing Starts surged 11.3 percent from November, the Commerce Department reported. The welcome news follows a disappointing pullback in November and a nine-year high in October. For all of 2016, average monthly Housing Starts were the best since 2007. Building Permits, which signal future construction, fell just short of expectations in December. On another positive note, Existing Home Sales ended 2016 as the best year in a decade. Limited housing inventory continued to push home prices up in 2016. CoreLogic, a provider of consumer, financial and property information, reported that home prices, including distressed sales, rose 7.1 percent from November 2015 to November 2016. The recent rise in home loan rates and the expectation of higher rates in 2017 could slow home price gains this year, CoreLogic reported. Inflation Ticks Up Consumer inflation was up 2.1 percent from December 2015 to December 2016, as reported in the Consumer Price Index. This 12-month increase marks the fastest pace of inflationary growth since the period ending June 2014. Wholesale inflation also ticked up in December, the U.S. Bureau of Labor Statistics reported. The Producer Price Index climbed 1.6 percent from December 2015 to December 2016, which was the largest 12-month gain since 2014.
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20 Via Soria - Talega 5 Bedrooms - 3.5 Bathrooms - 3,250 SQFT
1,085,000 LOCATED ON A PRIVATE CUL-DESAC IN THE EXCLUSIVE GATED COMMUNITY OF CATANIA!
Rising inflation is worrisome for homebuyers because it reduces the value of fixed investments like Mortgage Bonds and hurts the home loan rates tied to them. Home Loan Rates Still Attractive Home loan rates were able to improve slightly in the first part of January, following the post-election volatility in Stock and Bond markets at the end of 2016. However, positive economic news, rising inflation and transitions under the new Trump administration may provide some headwinds for Mortgage Bonds and home loan rates in 2017. For now, home loan rates remain historically attractive. If you have any questions about home loan rates or loan products, please don't hesitate to contact John Giangardella 949-370-4240 or johngmortgage@gmail.com
LEASING, BUYING OR SELLING | SCHIEDOW GROUP | 949-929-1339
Local Postal Customer ©2015 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Coldwell Banker Residen&al Brokerage office is owned by a subsidiary of NRT LLC.Coldwell Banker® and the Coldwell Banker Logo, Coldwell Banker Previews Interna onal® and the Coldwell Banker Previews Interna onal Logo, are registered service marks owned by Coldwell Banker Real Estate LLC. Broker does not guarantee the accuracy of square footage, lot size or other informa&on concerning the condi&on or features of property provided by seller or obtained from public records or other sources, and the buyer is advised to independently verify the accuracy of that informa&on through personal inspec&on and with appropriate professionals. If your property is currently listed for sale, this is not intended as a solicita&on. Sales may not represent all brokers. Based on informa&on from the Associa&on of REALTORS®/Mul&ple Lis&ng as of September 2015 Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the informa&on contained herein may or may not have been the Lis&ng and/or Selling Agent.
Currently “For Sale”in Talega as of 2/10/17 Tracts Alassio (ALAS) Alassio (ALAS) Verano (VERA) Trinidad (TRIN) Trinidad (TRIN) Santalana (SANT) Alassio (ALAS) Wavecrest (WAVE) Waterleaf (WATR) Escala (ESCL) Sabella (SABE) Portomarin (PORM) Monterey (MONT) Miraleste (MIRA) San Lucar (SANL) Catania (CATN) Catania (CATN) Sansol (SANS) Stella Mare (STLM) Catania (CATN) Stella Mare (STLM) Pacifica Summit (PACS) Ravenna (RAVE) Carillon (CARL) Sandbridge (SAND) Mirador (MIRD) Ravenna (RAVE) Stella Mare (STLM) Carillon (CARL) Mirador (MIRD) Careyes (CARY) Montellano (MONO) Careyes (CARY) Careyes (CARY) Alora (ALOR) Careyes (CARY) Lucia (LUCI) Lucia (LUCI)
ST# Street Name BR BTH SQFT 28 Paseo Del Rey 2 3 1232 16 Paseo Rosa 2 3 1468 34 Via Villena 2 2 1351 18 Camino Celeste 3 3 1606 19 Calle Calurosa 3 3 1606 18 Paseo Luna 3 4 1631 306 CALLE CAMPANERO 3 3 1578 16 Corte De Vega 3 3 2297 15 Camino Del Prado 2 2 2055 21 Calle Frutas 4 3 2478 37 Calle Akelia 4 3 2627 31 Via Regalo 6 4 2872 106 Via Sabinas 4 3 3066 17 Via Belleza 5 3 3000 13 Calle Verdadero 4 4 3076 13 Via Fon&bre 4 4 2941 14 Via Inca 5 4 2941 12 Corte Vidriosa 4 3 3477 14 Via Andaremos 4 4 3453 25 Via Jacobea 5 5 3602 95 Via Regalo 4 4 3582 16 Calle Pacifica 4 4 3800 17 Via Nerisa 5 6 4282 20 Calle MaQs 6 7 4170 35 Camino Lienzo 3 3 3650 22 Calle Aveituna 5 6 4706 16 Via Nerisa 5 6 4282 36 Via Andaremos 5 5 3901 11 Via Franca 5 5 3928 23 Calle Canela 5 6 4706 7 Calle Careyes 5 6 5061 50 Calle Vista Del Sol 5 5 4300 17 Calle Sonador 5 6 4807 51 Calle Careyes 5 6 5367 11 Calle Loyola 6 7 4564 39 Calle Careyes 5 6 5013 11 Via Conocido 6 7 6181 49 Via Conocido 4 5 6055
$SQFT 364.45 312.67 347.15 342.4 342.4 339.67 354.25 354.81 406.33 345.04 329.27 316.82 325.51 333 325.07 349.88 362.09 316.08 327.25 340.09 354.27 336.58 303.6 311.75 358.9 284.53 321.11 357.6 399.69 356.99 345.58 416.28 384.65 344.61 405.35 384 387.48 454.17
Lot Sz 0 N/A N/A 1606 N/A N/A 1000 4747 5060 4492 4455 5143 5815 6495 7635 5837 7248 6989 7098 5595 9796 9390 7456 7262 6886 7684 8821 9816 7641 9632 9235 14000 10542 10454 8327 11029 16362 15999
Orig Price 449000 459000 489000 579900 549900 588900 575000 815000 865000 855000 865000 969900 998000 999000 999900 1045000 1100000 1099000 1129995 1250000 1269000 1279000 1349900 1300000 1310000 1339000 1375000 1325000 1570000 1680000 1849000 1690000 1875000 1949000 1850000 1975000 2395000 2750000
Curr Price DOM 449000 10 459000 14 469000 113 549900 127 549900 14 554000 163 559000 135 815000 21 835000 71 855000 9 865000 187 909900 109 998000 50 999000 39 999900 9 1029000 75 1064900 201 1099000 21 1129995 31 1225000 18 1269000 71 1279000 71 1300000 33 1300000 10 1310000 227 1339000 106 1375000 211 1395000 174 1570000 11 1680000 1 1749000 236 1790000 49 1849000 37 1849500 228 1850000 13 1925000 188 2395000 4 2750000 3
“Based on informa&on from the Associa&on of REALTORS®/Mul&ple Lis&ng as of 11/1/2016 to 2/10/2017 MLS data was obtained and or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the informa&on contained herein may or may not have been the Lis&ng and/or Selling Agent.” *Informa&on incomplete, N/A is because not correctly listed or does not have a lot size.
Currently “In Escrow” in Talega Tracts Verano (VERA) Trinidad (TRIN) Verano (VERA) Verano (VERA) Verano (VERA) Solana (SOLA) Amalfi (AMAL) Carmel (CARM) Wavecrest (WAVE) Amalfi (AMAL) Escala (ESCL) Escala (ESCL) Waterleaf (WATR) Cazadero (CAZA) Stella Mare (STLM) Sansol (SANS) San Rafael (SANR) Pacifica -Talega (PACF) Carrillon Alta (ALTA) Alta (ALTA)
ST# 24 17 12 85 26 23 2 32 3 8 12 27 25 40 11 8 214 422 21 19 27
Street Name BR BTH List Price Corte Garrucha 2 2 465000 Calle Viveza 2 2 469000 Corte Aljibe 3 3 589000 Via Cartaya 3 3 589888 Corte Loarre 3 3 649000 Calle Boveda 4 3 699000 Via Marin 3 3 720000 Avenida Cristal 3 3 765000 Corte Sagrada 3 2 769000 Via Santander 3 3 775000 Via Ceramica 4 3 839900 Via Apuesto 4 3 865000 Camino Del Prado 2 2 899000 Calle Loyola 5 5 1065000 Via Andaremos 4 4 1099000 Corte Vidriosa 4 3 1175000 Via Marfino 4 4 1199000 Camino Bandera 5 5 1199000 VIA LUCENA 5 6 1199999 Calle Tamara 5 6 1889990 Via Alcamo 6 6 2099000
SQFT 1351 1388 1840 1881 1881 2100 2567 2600 1787 2237 2478 2550 2166 3849 3453 3477 3140 4333 3942 5139 5303
$SQFT 344.19 337.9 320.11 313.6 345.03 332.86 280.48 294.23 430.33 346.45 338.94 339.22 415.05 276.7 318.27 337.94 381.85 276.71 304.41 367.77 395.81
Lot Sz DOM N/A 8 N/A 182 N/A 11 N/A 71 N/A 34 3707 194 4996 77 0 117 4860 24 3959 8 4371 133 6021 9 6207 28 5821 161 7839 21 6709 35 13389 137 6815 116 N/A 232 10777 63 15594 153
Ocean & Golf Course Views!
Website addresses helping to market and sell your homes! SchiedowGroup.com TALEGAHOMEVALUES.COM TALEGALUXURYREALESTATE.COM TALEGAHOMEOWNERS.COM TALEGAHOMESFORSALE.NET TALEGAREPORTER.COM SCHOMEREPORTER.COM
Shorecliffs San Clemente
LAND
Inventory is Very LOW!
249 Via Ballena San Clemente
All price ranges are very low but we have a very large gap and need inventory for buyers looking for homes from $600,000 to $800,000. If you have a home that you think is in this price range and are thinking about selling. Please contact us at 949-929–1339.
Approx. 7,980 Sq Ft Flat Lot
11/1 to 2/10 “ Closed Sales in Talega”
Tracts Alassio (ALAS) Verano (VERA) Santalana (SANT) Trinidad (TRIN) Trinidad (TRIN) Verano (VERA) Verano (VERA) Verano (VERA) Verano (VERA) Santalana (SANT) Seagarden (SEAG) Solana (SOLA) Seaside (SEAS) Seaside (SEAS) Wavecrest (WAVE) Seagarden (SEAG) Escala (ESCL) Wavecrest (WAVE) San Lucar (SANL) Seaside (SEAS) San Lucar (SANL) Caprizi (CAPR) San Lucar (SANL) Waterleaf (WATR) Farralon Ridge (FARL) Portomarin (PORM) San Lucar (SANL) Caprizi (CAPR) Miraleste (MIRA) San Rafael (SANR) Monterey (MONT) Monterey (MONT) Miraleste (MIRA) Monterey (MONT) Portofino (PORT) Catania (CATN) Sansol (SANS) Pacifica -Talega (PACF) Mirador (MIRD) Cazadero (CAZA) Pacifica Summit (PACS) Montellano (MONO) Pacifica Summit (PACS) Alora (ALOR) Ravenna (RAVE) Ravenna (RAVE) Cazadero (CAZA) Montellano (MONO) Montellano (MONO) Carillon (CARL) Alta (ALTA) Montellano (MONO) Alora (ALOR)
ST# 24 64 54 5 22 51 41 65 52 26 45 4 27 12 21 11 11 8 11 27 17 32 17 16 300 67 9 28 42 213 103 115 12 105 14 31 42 424 23 12 10 37 28 21 48 38 12 41 39 25 14 4 16
Street Name BR BTH SQFT Paseo Rosa 2 3 1484 Via Villena 2 2 1351 Paseo Vista 3 2 1298 Calle Viveza 3 3 1606 Calle Viveza 3 3 1896 Via Cartaya 3 3 1840 Via Huelva 3 3 1840 Via Almeria 3 3 1881 Via Villena 3 3 1881 PASEO VISTA 3 3 1952 Corte Pinturas 2 2 1578 Corte Pasillo 4 3 2000 Calle Camaron 4 3 2280 Calle Pelicano 4 3 2507 Corte Ladino 2 2 2104 Corte Pinturas 3 2 1955 Via Ceramica 3 3 2342 Corte Miro 3 2 1785 Via Abajar 4 3 2615 Calle Guijarro 5 3 2448 Via Des&no 4 3 2615 Via Adrian 4 3 2566 Calle Verdadero 4 3 2448 Camino Alenza 2 2 2554 Corte Mira Vista 3 3 2414 Via Regalo 5 3 3108 VIA DESTINO 5 4 3147 Via Agradar 4 3 2427 Via Belleza 4 3 3218 Via Marfino 5 5 3531 Via Reseda 4 3 3011 Via Reseda 5 4 3415 Via Paquete 4 3 3019 Via Sabinas 5 3 3415 Calle Portofino 6 3 3213 Via Soria 4 4 3155 Corte Vidriosa 4 3 3725 Camino Bandera 6 6 3866 Calle Aveituna 5 4 3870 Calle la Espalda 5 5 4026 Calle Anacapa 4 4 3903 Calle Vista Del Sol 5 6 4800 Calle Anacapa 5 5 4372 Calle Es&lo Nuevo 5 6 4345 Via Nerisa 5 6 4468 Via Nerisa 4 5 4068 Corte El Brazo 5 5 3958 Calle Vista Del Sol 5 6 4774 Calle Vista Del Sol 5 6 4423 Via Torina 6 6 4002 Via Diego 6 7 5042 Corte De Nubes 5 6 4774 Via Paulina 5 6 4287
$SQFT 301.21 334.57 416.02 348.69 300.63 314.67 320.65 316.32 318.45 312.5 430.29 346.25 309.21 291.18 349.81 378.01 320.24 422.97 300.96 329.66 321.22 327.36 350.9 342.6 372.83 297.62 293.93 383.19 290.55 264.8 320.49 285.51 322.95 291.36 311.24 326.47 295.57 292.29 301.03 297.79 316.42 258.33 289.57 296.89 290.94 329.4 339.78 300.59 332.35 368.57 297.9 322.58 370.89
Lot Sz 1000 N/A 3000 N/A N/A N/A N/A 0 N/A N/A N/A 4726 4671 5057 5080 4000 5796 4529 4530 5408 4971 4602 5605 4850 8911 5557 5159 5179 6359 7201 6416 6185 5557 5427 9170 5489 11047 7088 11117 8114 6751 12097 8645 7750 8000 7051 9640 14304 13431 12005 13691 9176 8708
List Price 452000 454900 540000 565000 575000 587800 599000 599000 599900 615000 679000 700000 703000 799000 749000 749000 749000 759000 820000 815000 849000 869000 849500 875000 935000 929000 965000 939000 939900 969600 980000 998000 999000 999999 999900 1069000 1095000 1149500 1219000 1198888 1275000 1295000 1299000 1325000 1399800 1375000 1399000 1535000 1525000 1499900 1549999 1595000 1649900
Sale Price DOM 447000 33 452000 14 540000 5 560000 132 570000 147 579000 75 590000 18 595000 5 599000 17 610000 36 679000 171 692500 160 705000 77 730000 83 736000 93 739000 66 750000 151 755000 150 787000 98 807000 10 840000 145 840000 76 859000 36 875000 81 900000 90 925000 3 925000 108 930000 52 935000 165 935000 51 965000 39 975000 86 975000 117 995000 20 1000000 5 1030000 119 1101000 154 1130000 264 1165000 254 1198888 24 1235000 70 1240000 176 1266000 118 1290000 38 1299900 89 1340000 202 1344850 71 1435000 265 1470000 283 1475000 49 1502000 80 1540000 10 1590000 88
$450,000
S C H I E D OW G RO U P Todd Schiedow 949-929-1339 todds@coldwellbanker.com BRE Lic#01237118
Chase Priority Partner | Bank of America referral Lis ng Agent | Buyer Agent | Leasing Agent Cer fied Short Sale Nego ator | Bank Owned (REO) Approved Investment Proper es | Reloca on Specialist | New Construc on
Contact Todd Today for all your real estate ques ons!
www.SchiedowGroup.com www.TalegaReporter.com If your home is currently listed “for sale” this not a solicita&on.
Rare opportunity of new construction Condominiums with Ocean Views! 117 Avenida Del Reposo, San Clemente
Star&ng in the high $900,000’s 2 + Den & 3 bedroom models 1618 sqL to 2128 sqL.
Contact Todd Schiedow for a private and exclusive showing of these fantas&c residents!