Surfers Save Hot Air Balloon from crashing into Cardiff by the Sea

At sunset, a couple set upon an adventurous ride in a Hot Air Balloon. Little did they know (Though their Pilot SHOULD HAVE) the Santa Ana winds drift from East to West, which caused the trip to go very wrong. Little did she know, a ring was in his pocket, ready to ask for her hand in marriage. Luckily, she said Yes! Though just after celebrating this momentous occasion, they were forced to jump from the basket into the ocean, to swim ashore. A group of surfers caught the tether thrown down by the Pilot and helped guide it to a safe landing on the sand. Think twice before hopping in a hot air balloon. Weather conditions and Pilot experience will dictate whether you enjoy your trip or not.

Transfer Taxes…the FAQ

 
What is a Documentary Transfer Tax?
It is a tax imposed by the County and/or City for the transfer of property. When the ownership of a property changes hands, the ownership transfer document (Grant Deed, for example) needs to be recorded in the County Recorder’s office where the property is located. The County Recorder, under the Revenue and Taxation Code, collects a “transfer fee.” This fee is the Documentary Transfer Tax and is part of the revenue that is generated for the individual counties and cities.

Who pays for the Documentary Transfer Tax?
Either the Buyer or the Seller. The payment of the transfer tax can be negotiated between the Buyer and the Seller.

Normally,
in Southern California, the Seller pays.
In Northern California, the Buyer pays.
In Central California, it can be a combination of both.

How much is the Documentary Transfer Tax?
It depends on the location of the property. The County Transfer Tax is a standard of $1.10 per $1,000 of the sales price throughout the State. However, there are certain cities that also collect their own City Transfer Tax and those differ.

The California Revenue and Taxation Code has set this tax for all counties at $1.10 per $1,000 (or $0.55 per $500.00, or fraction thereof) of the transfer value (sales price less the value of any liens or encumbrances remaining at the time of sale) of the property to be transferred.

When is the Documentary Transfer Tax paid?
When the County Recorder receives the property transfer document (Grant Deed, for example) for recordation.

The Documentary Transfer Tax is paid together with the recording fee at the time the County Recorder receives the property transfer document for recordation.
If this is through an escrow transaction, then the Documentary Transfer Tax is paid with all the other escrow closing costs and will show on the parties’ escrow closing statement.

Do I need to pay Documentary Transfer Tax if I transfer my property to my son? Do I need to pay Documentary Transfer Tax if I transfer my property to my trust?
No. If there was no actual money involved in the transfer. There are certain exemptions to the payment of the Documentary Transfer Tax. Such exemptions include, transfers that are a “gift”and can be proven that no money was involved; transfers between individuals and their Revocable Trusts; transfers between spouses for no value.

If no Documentary Transfer Tax is declared, certain counties require an Affidavit to be completed, signed under penalty of perjury, and attached to the ownership document at the time of recordation.

NSDCAR HomeDex Report – February 2014

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HomeDex
Housing Statistics

February 2014 Reports

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NSDCAR February 2014 HomeDex Reports provide January 2014 housing statistics in two separate reports, featuring North San Diego County and full San Diego County statistics. Below is a snapshot of the February housing report. Click on the links below to read the full reports.

North County Report Full County Report

  • The median price for all North County home sales – attached and detached – decreased to $475,000 in January 2014 compared to $478,500 in December 2013.
  • Detached homes in North County increased 5.46 percent to $569,500 in January 2014 compared to $540,000 in December 2013.
  • Year-over median SFD price in North San Diego County increased 22.47 percent, compared to $465,000 in January 2013, an 18-month trend of sustained year-over median price increases.
  • The median SFD price in non-North County ZIP codes decreased 2.32 percent in January 2014 to $431,000 compared to $441,250 reported in December 2013.
  • Year-over non-North County median price increased 19.72 percent compared to $360,000 in January 2013, continuing a 22-month trend of year-over median price increases.
  • The number of North San Diego SFD listings (active and contingent) decreased 7.54 percent in January 2014 compared to December 2013.
  • The number of sold North San Diego County SFD units dropped 26.52 percent in January 2014 compared to December 2013. Year-over sold SFD units decreased 22.46 percent compared to January 2013.
  • Median days-on-market for single-family detached homes sold in North County increased to 41 days in January 2014 compared to 33 days in December 2013.
  • The HomeDex affordability percentage for all homes in North San Diego County remained at 33 percent in January 2014.

January 2014 NORTH COUNTY HomeDex Report

January 2014 FULL County HomeDex Report

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