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[quote=DataAgent]The original plans for the Ticonderoga project called for 9 houses. But it looks like House #1 now has a big back yard. The real problem with Ticonderoga is the shared driveways and the noise off Morena.

If you want to hear what’s going on and help shape the Clairemont business world, join the CPG (I’m a member):
https://www.sandiego.gov/planning/community/profiles/clairemontmesa/agendas%5B/quote%5D

Yes, also being next to a freeway would be tough. Although modern houses can have great soundproofing.

I read the minutes of the CPG when they are posted online. Maybe I’ll pop along at some point, but I have two young kids and I prefer to get some time with them.

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Thanks for the links. I was wondering what was being built in the new development on Morena. I had assumed apartments but these houses are huge.

I am reading the report. It is odd that there seems to be no connection between the rose creek trail and Damon avenue for bikes. It is a pain having to cross mission bay drive.

I am still unconvinced how many people will get to PB to the station.

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[quote=DataAgent]
Rich,
Do you think the trolley is good or bad for our area? I’m a bit concerned about the Balboa stop being the gateway to PB for thousands more SDSU and UCSD kids. Morena and Balboa could turn into a congested nightmare with buses, cabs, shuttles, limos, uber stops etc.[/quote]

I am all for the trolley. Development will completely revitalize Morena Blvd. Great news for Bay Ho/Bay Park. Although if you read some guy (HJ) on Nextdoor all our houses will be demolished to make way for a Miami beach landscape.

I am confused by the idea that the Balboa stop will be a gateway to PB. How are people meant to get to the Trolley from PB? The station is across the 5 and far away from most of PB. They are not building a bridge across the 5 (although it is mentioned in the plans). Apparently, the cycle route will be via the ‘In and Out’ road and Santa Fe street.

People will take forever to walk and that Mission Bay Drive/ Balboa junction is hideous. I used to live in Crown Point and it took me 7 minutes to cycle only to ‘In and Out’. And Crown point is closer and easier to cycle to the Balboa station than most of PB. Otherwise, you have to use Garnet. No way I would cycle on Garnet or Grand.

At any rate, i think car driving commuters from PB will be much more negatively impacted by the Trolley stop than folks from Clairemont.

Can you tell me how they imagine people getting from the apartments on Diamond street to the Balboa station?

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I work at UCSD and like to surf. Bay Ho is really close to 52 for both the beach and the University. Also, I would say that Bay Ho and Bay Park have some really nice areas. It really came down to available properties. We also would have taken a place in North Clairemont but west of Genesee.

We checked a few places out. There were two flips that were actually cheaper than the house we bought. Both were on the small side. Our house was a weird but sort of typical Clairemont story. A contractor had owned it in the 90s and substantially remodelled/rebuilt the place. It is big and our realtor called the layout ‘quirky’. For instance, the master bedroom is as big as my old 1 bedroom apartment in PB. For these reasons, we got a good deal and flippers were not interested.

I think you will do better getting the non-flips.

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I live in Bay Ho. My wife and I lived there for a year before finding a place to buy. The location is amazing. Our commute is really short, and I can pop in to surf at Scripps in 10 minutes. The traffic is not bad, the shops are close by. The area is very safe and you get a nice sized lot with a backyard for kids. Bay Ho and Bay Park seem to be improving. A few nice developments like Tavara Ridge. A few new restaurants/coffee places. I imagine that will accelerate when they complete the Trolley to UTC/UCSD in 2020. The owner of this site lives here…

The parks are pretty nice, with Alcott being open for kids to cycle/play around.

We have two kids and I do not like our assigned school at Cadman. But the reason is that the principal and half the staff retired last year (I think the district offered a retirement package?). So the school seems to be in flux at the moment. Plenty of our neighbors ‘choice’ into the University city district. Spreckels/Curie Elementary, Standley middle, and University high are 5-10 minutes drive. Plenty of Daycare places are available in Bay Ho/Bay Park as well, along with preschools.

Some cons are pretty much standard Clairemont complaints. Bay Ho/Bay Park are not walkable at all. Especially compared with North Park, although that might prevent the homeless problems you see in North Park. You find houses that look like bombsites right next to rebuilt houses. It is suburbia, and boring for some. I do not mind that problem after living in PB for 6 years. After having kids I like the peace and quiet. The houses stock is old, built in the 50s. Make sure you get a good inspector. Get your sewer lines scoped, cast iron pipes have a lifetime of 75-100 years but if someone poured acid to relieve a blockage then that shortens the lifespan.

I used whatever mortgage place my realtor suggested, it made the buying process easier. We then refinanced.

Let me know any more specific questions.

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Read the first review on Amazon of this book. It is quite informative:

“Then we have Sherrena who with her husband runs about 18 buildings (mostly two-family flats) in the African-American neighborhoods on the north side of Milwaukee. In a chapter titled “The ‘Hood is Good” Desmond blithely accepts Sherrena’s boast that she has a net worth of $2 million and nets $10,000 a month in rental income. Desmond is honest in portraying the many difficulties Sherrena has in collecting rent from her struggling tenants but he doesn’t do the background research (available from local court records) about the many thousands of dollars in unpaid rents and damaged units which sort of cut into profits a little bit.

As to her supposed net worth of $2 million, that averages out to $111,000 for each of these 18 ghetto properties – certainly far more than some of the real dumpy ones are worth – but the author does not research the amounts of the recorded mortgages against these properties (ranging between $64,000 and $119,200) which further greatly reduce the claimed net worth. That would have been revealed in the many foreclosures filed against Sherrena’s properties which started within a year after Desmond’s visit to Milwaukee.”

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[quote=flu]

what is the term of the 1.4%? Is it one month CD or money market?

[/quote]

The 1.4% is their online savings account. Not a CD or money market.

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I use Goldman Sachs AKA “Marcus” for my emergency fund. It is at 1.40% at the moment. No hassle setting up the account or transferring money.

The rates are getting better. There seems to be a little competition between online banks for the best rates at the moment. Although I remember the days of 5% interest.

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[quote=HLS]So your servicer has made TWO property tax payments in the last few weeks for you and you are only $115 dollars short ?

Please confirm that so you get the 2017 deduction that you want.
Unusual that they paid it for you that fast (you called yesterday)
but not impossible.

No limit to number of times you can refi. 😉

You probably know that you can adjust your payment and pay off in any term that you want; you don’t need to start over at 30 years each time. They key is your interest rate.

You have a great rate and no PMI = Excellent~ HLS

PS: Private message sent[/quote]

Cheers. Yes, it does appear there are two payments. I am trying to work our the payment history, but I think it makes sense. The $115 would be ~$700 if I had not paid the January 1st payment early.

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[quote=HLS]

There is no reason to make the January payment this early.
Servicers have automated systems. December interest isn’t due until Jan 1st.

Depending on when your servicer sends out your next statement, you run the risk of having your payment credited ALL to principal as a reduction, and not to your January payment.
Make sure that your payment posts the way you intend it to.

Always safer to wait until statement is printed. Payment made the last week of December counts the same as payment made today.

What’s your loan balance & current interest rate ?
You may benefit by refinancing to a lower rate at no cost AND get rid of impound acct. Saving just a 1/8th of a point (.125%) can save a lot of money over time.[/quote]

OK. Good news. My servicer accepted my Jan 1st payment. And the interest paid is reflected in my 2017 interest amount.

It also looks like my Servicer paid the property tax installment for me. The property tax was due in March 2018, but they paid it on Dec 4th. I actually owe them $115 on my Escrow account. I guess the representative with whom I chatted must have understood that I wanted them to pay my property tax early.

I refi-ed last year to 3.375% on my 30 year. I guess that will be my last refi. I have refi-ed 3 times in 3 years. The yield premium spread that you mentioned in another thread made a lot of sense, and I got rid of all my PMI after the 2nd refi. It is really a shame I do not know your real life identity, otherwise, I would suggest you for friends who are looking to buy.

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[quote=HLS]
I don’t think you are going to get your loan servicer to adjust your impound account payments. Eventually you will get the overage refunded to you.
(You may even get a decent rate of interest on the excess funds in your account) Audits are usually done once a year, on their schedule.

Your loan servicer has a specific amount that they expect every month to keep your account current.
You really don’t want to mess with that.

You might be able to ask them to remove your impound account if you are willing to pay taxes & Insurance on your own going forward.

Please report back if they tell you that will adjust your payment manually.[/quote]

Thanks for the input.

I chatted with a representative. They confirmed what you had stated. They have no problem with me paying the property taxes, and will simply send a refund after the annual Escrow accounting in May 2018. I have already paid the mortgage payment due on January 1st. I read online that as long as you pay early enough then that month will count towards 2017 on your 1098.

I also notice the idea has gone mainstream:

https://www.cnbc.com/2017/12/04/homeowners-use-these-year-end-tax-moves-to-save-ahead-of-tax-reform.html

ps I am stuck with an impound account AFAIK. Even though my LTV is about 60%. I should have asked for no impound account at my last refi.

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Thanks all. I was obviously wrong about the mortgage interest deduction.

But I think I will still be taking the standard deduction in 2018. The state income tax deduction is a large part of my itemized deduction. Without the state income tax deduction, I do not think I will reach $24400.

I can prepay my January 1st 2018 mortgage payment. And I think that makes sense.

I have an Escrow account with my loan servicer. If I pay the April property tax this month myself then I assume the servicer will adjust my Escrow payments. I’ll try to call them on Monday to check.

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They are getting rid of both the mortgage interest deduction and the state income tax deduction. And the standard deduction is going up to 24400. In my situation that means I will not be itemizing for 2018 taxes, I’ll take the standard deduction. Therefore I will not be claiming property tax for 2018.

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Prepay interest on the loan? Is that possible? Does that make sense?

EDIT: I googled – I think it is possible to pay your January payment in December to count for 2017. But no other prepayment is allowed.

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I just got the Ring doorbell from Costco, along with the floodlight option. I already have Ecobee and I like it. SDGE will come and install the thermostat as well.

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