November 2008 RSS Feed

The San Clemente average sales price decreased 20 percent compared to October 2007, bringing the average price to $771,894. The number of new listings decreased 6 percent, while sales increased 15 percent. Meanwhile, the average market time decreased 7 percent, with average market times of 91 days vs. 98 days in 2007.

San Clemente	New Listings	Sold Listings	Average Sales Price	Average DOM
Oct 2008	…

Lower San Clemente Home Values Means I Can Lower My Insurance - Or Not

The OC Register has a great article concerning whether or not to reduce your home owners insurance because your home's value has declined. I have to admit it is something I hadn't thought about and this article is a good read if you are contemplating this decision. Here it is:

With house prices falling, cutting your homeowners insurance coverage to save a few bucks could seem like a good idea, but you might want to think twice, say the folks at the Insurance Information Network of California.

A recent survey conducted for the non-profit Insurance Information Network  showed that 26% of Californians think they should reduce their insurance coverage because the resale value of…

Tax Benefits of San Clemente Homeownership

San Clemente home buyers are snapping up bargains created by the slower economy and housing market. But what are the tax benefits of owning your San Clemente home? The tax deductions you’re eligible to take for mortgage interest and property taxes greatly increase the financial benefits of homeownership. Here’s how it works.
Assume: $9,877 = Mortgage interest paid (a loan of $150,000 for 30 years, at 7 percent, using year-five interest)

$2,700 = Property taxes (at 1.5 percent on $180,000 assessed value)
______

$12,577 = Total deduction

Then, multiply your total deduction by your tax rate.
For example, at a 28 percent tax rate: 12,577 x 0.28 = $3,521.56 $3,521.56 = Amount you have lowered…