Kali Real Estate

Property Management in Chula Vista

Keep the Housing Recovery on Track

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NAR Call for Action

Call for Action: Keep the Housing Recovery on Track

 

Despite some positive signs of recovery, our nation’s real estate market is still fragile.  Over a quarter of all transactions still involve a distressed property.  That’s why you must take action now and tell Congress to extend Mortgage Forgiveness Tax Relief.

Without an extension, families engaged in a loan modification, short sale, or foreclosure would face a big tax bill. Neither consumers nor the housing market need that added burden.  Homeowners shouldn’t be forced to pay a tax on money they’ve already lost with cash they never received.

Please tell Congress to extend Mortgage Forgiveness Tax Relief. We need no new obstacles that might throw the housing recovery off track.

Take Action Button

Message Subject: REALTORS Urge Your Support for S. 2250, H.R. 4336 and H.R. 4202

Dear [Decision Maker],

As a REALTOR®, I know first-hand the effects the struggling housing market has had on our nation’s families and communities. While some housing markets are moving in the right direction, others will take years to fully recover from the loss in value caused by the Great Recession.
It’s important that Congress not add any roadblocks to a full and robust recovery. That’s why I’m asking you to support an immediate extension of “The Mortgage Forgiveness Debt Relief Act.”

Without action before the end of the year, millions of families who hold “distressed properties” could face a tax penalty if they try to modify their mortgage or seek a short sale through their lender. Even those in the worst situation facing foreclosure would find themselves forced to pay a “foreclosure tax” if Congress doesn’t act. This is because the amount of debt forgiven by the lender would be considered “phantom income” to the borrower even though they never receive any payment from the lender.
No taxpayer should be forced to pay tax on money they’ve already lost with cash they never received.
Today’s distressed sales and restructurings come not as a result of bad loans or over-leveraged families but from a struggling economy and falling home prices. We should be doing everything we can to expedite responsible loan modifications and short sales to allow the housing market and our economy to fully recover.

Legislation has been introduced in both the House and Senate. I urge you to ask your party leaders to work together to move a tax extenders package to the floor, before the end of the year, that includes this important provision.

Sincerely,

Take Action Button

 

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Take Action!
Instructions:
Click here to take action on this issue.Tell-A-Friend:
Use this link to share this Call for Action with your fellow REALTORS®.  


What’s-at-Stake:

  • Mortgage Forgiveness Tax Relief could affect almost one quarter of all real estate transactions.
  • Homeowners shouldn’t be forced to pay tax on money they’ve already lost with cash they never received – and never will receive.
  • More than 20% of current homeowners with a mortgage owe more on their homes than the current fair market value.
  • Transactions not completed by year-end could become taxable in 2013, despite a borrower’s reliance on this tax relief.
  • The housing market, while recovering, is still fragile enough that this tax relief will be needed in 2013 and possibly beyond.

 

 
 REALTOR Action Center National Association of REALTORS

Dario Barba, is now listed as a Short Sale Professional with Bank of America

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The Home Buying Process

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Median Numbers Of Homes Viewed Before Purchasing?

2007: 15

2008: 14

2009: 14

2010: 15

2011: 12

How Did People Find Their Home?

Using an Agent: 80%

Using a Website: 13%

For Sale Sign: 4%

Open House: 3%

 

Copyright © 2012 CALIFORNIA ASSOCIATION OF REALTORS®

Chula Vista Bayfront Master Plan

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California Coastal Commission Approves Chula Vista Bayfront Master Plan

Thursday, 09 August 2012
Contact: Marguerite Elicone (619) 686-6281

cvbmp-aerialMEDIA ALERT: Press Conference Will be Held Friday, Aug. 10, 1 p.m. at Chula Vista Bayside Park (MAP)

After a decade-long, joint planning process between the Port of San Diego and City of Chula Vista, the California Coastal Commission today unanimously approved the 556-acre Chula Vista Bayfront Master Plan (CVBMP), the largest available coastal development opportunity in California.

Located on south San Diego Bay in the City of Chula Vista, the accepted land use designations allow the Port and Chula Vista to progress into the development phase with the goal to transform the currently underused industrial waterfront property into a world-class resort and conference destination, complemented by a mix of residential, retail, and more than 240 acres of parks and nature preserve.

The next step for the Port and City is to secure a developer(s) for the master planned project by preparing a Request for Qualifications or RFQ. Marketing efforts are already underway and it is anticipated that an RFQ would be issued for initial phases of the project early next year and will be announced and posted on the Port and City websites.

“Today is a great day for Chula Vista and our neighbors throughout the South Bay,” said Chula Vista Mayor Cheryl Cox. “This plan is an unprecedented development model that succeeded because of collaboration with differing interests, input from community stakeholders, and hard work from dedicated people. We now have an economically and environmentally sound foundation that will bring thousands of new jobs to our region and increase public access to our waterfront.”

The project will be implemented in four major phases over a 24-year period. The first phase includes developing the resort conference center, creating public parks and open space, restoring habitat areas, and constructing a new fire station, RV park and mixed-use residential development. It is envisioned that construction for the first phase could begin as early as 2016.

Pacifica Companies, a San Diego-based development and real estate company, is the design/build company that will construct the mixed-use residential areas located on previously developed land near existing yacht marinas.

“I am proud to represent Chula Vista and the Port during this historic moment. This project combines the best in planning and development that will benefit residents, the environment and the economy for an entire region,” said Port Commissioner Ann Moore. “Approval of the Chula Vista Bayfront Master Plan exemplifies the collaborative approach the Port of San Diego aims to take with projects involving our five member cities.”

In the near term, significant changes will occur to Chula Vista’s bayfront over the next year.
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Among the largest projects is the demolition of the South Bay Power Plant. This fall, the power plant which began operating in 1960 and was decommissioned in 2011, will be imploded in two phases. Its removal will further open views of San Diego Bay as the site is prepared for new visitor-serving and business assets as envisioned in the CVBMP.

Note: A press conference will be held Friday, Aug. 10, 1 p.m. at Chula Vista Bayside Park (MAP).

For more information on the Chula Vista Bayfront Master Plan, please visit CVBayfront.com. You can also follow on Facebook at ChulaVistaBayfront or Twitter @CVBayfront.

About the Chula Vista Bayfront Master Plan:

At 556 acres, the Chula Vista Bayfront Master Plan (CVBMP) will transform Chula Vista’s underused industrial bayfront landscape into a thriving residential and world-class waterfront resort destination. The Plan will establish thousands of new jobs, create new public parks, protect natural coastal resources, provide conference and visitor-serving amenities and build an important asset for the San Diego region, the South Bay, Chula Vista residents and coastal visitors. The CVBMP is the result of a decade-long joint planning effort by a broad coalition of stakeholders, the Port of San Diego, the City of Chula Vista and Pacifica Companies. The Plan represents the last significant development opportunity in Southern California and was approved by the California Coastal Commission in August 2012.

About the Port:

The Port of San Diego is the fourth largest of the 11 ports in California. It was created by the state legislature in 1962 and spans five Port cities – Chula Vista, Coronado, Imperial Beach, National City and San Diego. The port oversees two maritime cargo terminals, two cruise ship terminals, 17 public parks, the Harbor Police Department and the leases of more than 600 tenant and sub tenant businesses around San Diego Bay. The Port of San Diego is an economic engine, an environmental steward of San Diego Bay and the surrounding tidelands, and a provider of community services and public safety.

About the City of Chula Vista:

The City of Chula Vista is located at the center of one of the richest cultural, economic and environmentally diverse zones in the United States. It is the second-largest City in San Diego County with a population of nearly 250,000. Chula Vista boasts more than 50 square miles of coastal landscape, canyons, rolling hills, mountains, and a variety of natural resources and quality infrastructure. Established neighborhoods, contemporary communities, start-up firms, corporations, nationally recognized entertainment venues, the nation’s only warm-weather Olympic Training Center, an award winning nature center and a historic downtown all contribute to Chula Vista’s attraction for both families and businesses.

San Diego Rental Rates 2012

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Did you know that San Diego rents on average in 2012 for 1 bedroom and 2 bedroom units have been on the increase since 2010. 

$1,063 – Average rent for a 1 Bedroom Apartments in 2012*
$1,460 – Average rent for a 2 Bedroom Apartments in 2012*

Average rent growth is consistent month-to-month, quarter-to-quarter, and year-to-year for the past two years in San Diego County.

.5% increase month on month**
.8% increase quarter on quarter**
.3% increase year on year**

Rental rates are just one metric to measure the rental market. Vacancy rates are a good indicator for demand of rental units. Here are the spring 2012 vacancy rates for San Diego County.
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Vacancy Rates by Region
5.6% – East County***
4.9% – North County***
4.8% – South Bay***
3.4% – City of San Diego***

* – ApartmentRatings.com
** – Zillow.com
*** – San Diego County Apartment Association

California Home Prices By County

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