San Diego Calendar of Events June 2017
It is almost summer and you know what that means, tons of events in and around San Diego!
Check out below all the happening things for June 2017
June 2-July 4
San Diego County Fair
Del Mar Fairgrounds
Moonlight Cultural Foundation Gala
6-10pm | Moonlight Amphitheatre, Vista
Encinitas Wine & Food Festival
5-8pm | Encinitas Ranch Golf Course
Sam Hinton Folk Festival
11am-5pm | Old Poway Park
CSU San Marcos Monopoly Gala
6-11pm | CSU San Marcos
La Mesa Flag Day Parade
10am-12pm | La Mesa Village
Rock ‘n’ Roll Marathon
Gem, Mineral and Jewelry Show
California Center for the Arts, Escondido
June 3-4 & 10-11
Fallbrook Open Tennis Tournament
Fallbrook Tennis Club
San Diego Kidney Walk
9am | NTC Park, Liberty Station
Golf for Wildlife Tournament
10am-5pm | Coronado Golf Course
State Beach Classic
Tamarack Beach, Carlsbad
45th Anniversary of Apollo 16
5:30-10pm | San Diego Air & Space Museum
San Diego Greek Festival
St. Spyrdion Greek Orthodox Church
San Marcos Summer Music Fest
12-8pm | Walnut Grove Park
Flag Retirement Ceremony
10am | Veterans Park, Poway
“MOW”TOWN Gala/Chef Challenge
5:30pm | Sheraton San Diego Hotel & Marina
South Bay Sustainability Fair
National City Chamber of Commerce
Filipino American Celebration
Oceanside Civic Center Plaza & Library
Global Wellness Day Bike Ride
Portwood Pier Plaza, Imperial Beach
Town Center Community Park East, Santee
Julian Backcountry Dance and BBQ
Menghini Winery: 1150 Julian Orchard Drive
Mud Run – 5k and 10K
Marine Corps Base Camp Pendleton
June 11, 18 & 25
Chula Vista Summer Sundays
5-7pm | Village Walk at EastLake
Taste of La Mesa
5-8pm | La Mesa Community Center
Salute to Education
5:30-7:30pm | 1991 Village Park Wy Encinitas
Taste of Little Italy
5-9pm | Streets of Little Italy, San Diego
Cooper Family’s Juneteenth
10:30am-5pm | Imperial Avenue, San Diego
Wine, Brews and Blues Festival
California Center for the Arts, Escondido
San Diego Botanic Garden, Encinitas
Low Tide Ride & Stride
9am | Camp Surf YMCA, Imperial Beach
Tony Gwynn 5.5K Run & Walk
8am | 9990 AleSmith Ct., San Diego
Walk For Sobriety
8am | NTC Park, Liberty Station
Taste of Gaslamp
1-4pm | Gaslamp Quarter, San Diego
Lamplighters Theatre Anniversary
5:30-7pm | 5915 Severin Drive, La Mesa
Summer Fun on the 101
Sat 11am-7:30pm, Sun 11am-5pm | Leucadia
Nancy Bergman, CAL BRE#01893550, Windermere Homes and Estates – Rancho Bernardo, is a local Realtor specializing in Rancho Bernardo, Rancho Penasquitos, Poway and Escondido. Yet she goes all over San Diego. If you are looking for an agent who knows the San Diego Market, contact Nancy Bergman at 858-617-9449 / firstname.lastname@example.org. She will assist you with all your ral estate with honesty and knowledge that is like no other agent. www.sandiegohomesbynancy.com
PAYING CASH FOR THAT HOME?
Are you planning to buy a home in 2017 for cash?
I bet you did not know that if you purchased your home by paying cash, you still have 90 days to be able to access your homes equity and be able to deduct the interest portion of the loans payment off your taxes. After 90 days you lose almost all of that deduction.
For the past few years, San Diego has seen a large number of properties being purchased with cash. While many of these buyers have been foreign investors, many have been flushed with cash, looking to trade up or trade down. These buyers may have assumed it’s easier to purchase “all cash” and worry about possibly obtaining a mortgage later. These same cash buyers are likely unaware that the IRS views differently what is considered “Acquisition Debt” versus “Home Equity Debt.”
What is “Acquisition Debt” and Why Does It Matter?
Any mortgage used to purchase, build, or improve a primary or vacation home qualifies as “Acquisition Debt.” A mortgage that is used for any other purpose is defined as “Home Equity Debt.”
There are times when a buyer must “rush” to close using cash, even when it was their intention to finance their purchase. For these buyers, the IRS allows a 90-day window to obtain their mortgage financing and recoup the cash they laid out.
However, if a purchase-money mortgage on your primary or vacation home is NOT obtained within 90 days of the purchase closing, any mortgage on the property obtained in the future that is NOT used specifically for home improvements will be considered “Home Equity Indebtedness.” This means:
You may NOT be able to deduct any interest at all if you are subject to the Alternative Minimum Tax (AMT).
If you are NOT subject to the AMT, you will only be able to deduct the interest on up to $100,000 of the mortgage balance.
On the other hand, if you DO put a mortgage on your primary or vacation property within the 90 day window and qualify for “Acquisition Indebtedness:”
You can use the funds for any purpose you wish, such as investments, retirement needs, college costs, living expenses, even estate planning!
You can deduct the interest on up to one million dollars of the mortgage balance, regardless of whether you are subject to the AMT.
From a Realtor’s perspective, a cash buyer is the best buyer and seller. But is it really right for you?
As always discuss your options with a tax professional who knows you and you can make an informed decision together.
DISCLAIMER: This overview is provided for informational purposes only and does not constitute legal, tax, or financial advice. Please consult with a qualified tax advisor for specific advice pertaining to your situation. For more information on any of these items, please reference IRS Publication 936.
Nancy Bergman, CA BRE# 01893550, Windermere Homes and Estates – Rancho Bernardo is a local North County San Diego Realtor who specializes in Rancho Penasquitos, Rancho Bernardo, Poway, Carmel Valley and Escondido. She is a local agent who is also involved with her kids schools, Adobe Bluffs Elementary and Black Mountain Middle School. For more information on buying, selling, investing, contact Nancy Bergman at 858-617-9449 or www.sandiegohomesbynancy.com