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Bike Month is here! Come out and enjoy Lifestyles of Long Beach

Bike Month is here in Long Beach!

Ricardo The Realtor is your Long Beach Real Estate Team

Bike Long Beach – LIfestylesOfLongBEach.com

Long Beach Mayor Bob Foster kicked off National Bike Month on May 7 with his annual Bike Ride to City Hall, one of more than a dozen exciting activities and special events taking place in Long Beach during May 2013.

The mayor’s bike ride promotes awareness of the annual Tour of Long Beach & Bike Festival, the annual bicycle circuit around Long Beach benefiting Miller Children’s Hospital. This year’s event and daylong celebration at The Pike in Rainbow Harbor will take place on Saturday, May 11.

Other upcoming events include Fix Your Bike Day & Safety Rodeo on May 11 at McBride Teen Center; Bike to Work Day on May 16 at City Hall and CSULB locations; and Kidical Mass on May 19 in Bixby Knolls.

An updated listing of events will be posted throughout the month at BikeLongBeach.org/events

  • The Downtown Long Beach Associate presents the Bike Fest of Long Beach. Grab your bike and cruise to THE PIKE AT RAINBOW HARBOR to Celebrate Bike-Friendly Long Beach at the Finish Line of the Tour of Long Beach!The event is FREE and will feature the BEACHWOOD & FRIENDS CRAFT BEER GARDEN, a Vintage Bike Exhibit & Fashion Show, Live Entertainment and Swing Bands, a FREE Bike Valet, Children’s Activities, Vendor Village and food specialties from Downtown’s Restaurants.

95 South Pine Ave., Long Beach, California 90802
LIfestyles of Long Beach & Real Estate

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This weekend is when Long Beach puts its money where its mouth is when it comes to championing bicycle culture.

This will be the fourth year of the Tour of Long Beach, which begins as early as 6 a.m. Saturday, May 11, near Shoreline Village. The Downtown Long Beach Associates’ BikeFest will take place at the finish line from 9:30 a.m. to 4:30 p.m., at The Pike’s grassy area near Shoreline Drive and Pine Avenue.

“The Tour of Long Beach and its finish line festival is a celebration of the bike friendliness and bike culture in downtown Long Beach,” said Julie Meigs Korinke, DLBA communication manager. “And this year, BikeFest will be highlighting downtown’s vintage and biking fashion with two new elements.”

The Tour of Long Beach was an idea of the late Mark Bixby and Long Beach’s Bike Ambassador Tony Cruz (2000 U.S. Olympian). The tour has a variety of ways to participate with the Family Fun Run (free, 5 miles), Tour of Long Beach ($55, 31 miles), Metric Century Ride ($65, 62 miles) or the Cruz Gran Fondo ($120, 100 miles).

“With all the different rides, anyone can participate, whether you are a kid who just got a bike or an avid cyclist,” said Brett Beck, Memorial Medical Foundation director. “It’s designed to be a great weekend for families and neighbors to show off what Long Beach has been trying to do to be one of the most bike-friendly cities in the nation.”

The Tour of Long Beach puts money toward the Miller Children’s Hospital Jonathan Jaques Children’s Cancer Center. Beyond an entry fee, riders also can choose to fundraise for the race — $200 raised by May 10 gets the cyclist a special Champions Club jersey.

“There’s a lot of rides for different diseases and diagnoses, but you don’t really know what the money is specifically going to,” said Renae Waestman-Furlow, marketing manager for Jonathan Jaques. “We’re really big on transparency.”

The hospital is part of the Children’s Oncology Group, working to cure cancers in children and teenagers — specifically certain types of leukemia.

“Our goal is to make pediatric cancer a survivable disease, to make sure each child is curable,” Waestman-Furlow said. “And any advances we receive here, a patient in Texas will get that same knowledge. When you come and ride and make every pedal count, you’re doing something locally, but also helping every patient across the country.”

The main Tour of Long Beach route begins along the water in downtown Long Beach, goes north along the Los Angeles River, cuts across the city roughly parallel to Heartwell Park, back down along the San Gabriel River and across the boardwalk back downtown. The special Cruz Gran Fondo will be led by Tony Cruz, and its path reaches south all the way to the Laguna area and back.

The event is trying to raise about $500,000 and race officials said they expect about 3,000 cyclists of all ages and types. One-way of traffic along Shoreline Drive will be closed from about 4 a.m. to 10 a.m.

At the finish line, the BikeFest will be a daylong celebration for riders and spectators alike.

There will be a vintage bike and fashion show at 1 p.m. inspired by Bernard Serrano and the Cyclone Coasters, featuring fashion from the 1920s-1990s. A vintage exhibit will take place all day. Live swing performances will serenade the celebration.

“Guests will be encouraged to hit the dance floor with their best swing moves,” Korinke said.

The Beachwood and Friends Craft Beer Garden is returning with a larger footprint. There will be about a dozen breweries with 20 craft beers to choose from — five-ounce souvenir glasses and $20 for 10 tastings. There will be a bike shop vendor village, free bike valet, face painting and bicycle safety classes aimed at families.

“The festival really serves two purposes: To be a celebration of the participants in the tour and the other is to celebrate our biking community here in Long Beach,” Korinke said.

Lifestyles of Long Beach & Bike Month

BikeFest Long Beach is happening this month so make sure you come out and join us for some of the festivities. http://www.LifestyleOfLongBeach.com

Long Beach Real Estate,Naples Island,Belmont Shore, Alamitos Heights,The Peninsula

For all of your Real Estate needs and more… Call RicardoTheRealtor.com 562.533.4003
Our Real Estate Team always outperforms an individual.

Buying vs. Renting a home in Long Beach, CA

Buying vs. Renting a Home in Long Beach

To RENT or OWN? 56 Reasons listed below.

Rent or Buy homes in Long Beach, Ca

If you are looking to buy or rent in Long Beach call us first. For all of your Real Estate needs and more… Call RicardoTheRealtor.com

Rent Advantages


May be cheaper than a mortgage payment
Fewer (if any) maintenance costs
No down payment required (less deposit)
No real estate taxes (renters insurance optional)
Less stress (who cares, it’s not yours!)
Freedom to move or downsize when necessary
No risk of home price depreciation

Some utility bills may be included
“Free” amenities such as pool, gym, security
Money can be used for other, more profitable investments
Can’t be foreclosed on
Rent Disadvantages
Rental payment may exceed monthly cost of mortgage
No ownership or wealth creation
Payments never stop when renting
Rent will rise over time
Must deal with a landlord or management company
No tax benefits
Rules, regulations, and limitations
More temporary, less stability
Always at the mercy of the property owner
Pets may not be allowed

Houses in Alamitos Heights,Belmont Shore,Naples Island,The Peninsula,Bluff Park,Spinnaker Bay

For all of your Real Estate needs and more… Call Ricardo the Realtor 562-533-4003
Our Team of Realtors always outperforms an individual.

Ownership Advantages
You can build home equity and wealth
Status- Status-Status
Sizable tax deductions possible
Your space, your rules (pets welcome)
Ability to remodel, expand, tear down
Pride of ownership (social status, accomplishment)
Potentially better for children, family structure
Mortgage can improve your credit history/score
Ability to borrow against your home (HELOC or cash-out)
No more monthly payments once mortgage paid off
Fixed payments (if you choose a fixed mortgage)
Mortgages are the cheapest loans available
No landlord
Can exclude capital gains when you sell (partially)
Inflation hedge
Can rent out to others
Can sell and use proceeds for bigger/better home
Retirement nest egg
It’s the American Dream!

Ownership Disadvantages


Home prices may lose value
Could overpay for your property
Obtaining a mortgage (and finding a home) is a hassle
Not everyone qualifies for a mortgage
You must pay taxes and homeowners insurance
Total housing payment can be more expensive
Mortgage payment can rise (if an ARM)
Sizable down payment necessary
Maintenance costs can be excessive
Pricey HOA dues (if applicable)
You’re “stuck” in a home (long-term commitment)
Increased liability and responsibility
Transactional costs of buying and selling
Ownership is stressful!
Taxes and insurance generally rise
Your home can be damaged or destroyed (and not fully insured)
Can be foreclosed on and lose your home

Hope this helps you in your search to Buy or Rent a home in our beautiful city of Long Beach, CA. Our Real Estate team is here to help you.

Long Beach Real Estate,Naples Island,Belmont Shore, Alamitos Heights,The Peninsula

RicardoTheRealtor.com 562.533.4003
Our Real Estate Team always outperforms an individual.

Why Buying a home is 45% cheaper than renting. Long Beach Lifestyle and Real Estate.

Buying a Home Cheaper than renting?… 

Long Beach Lifestyle & Real Estate

You can save hundreds of dollars a month by buying a home instead of renting – especially if you can get today’s low mortgage rates, itemize your tax deductions and plan to live there for 7 years.

The most important housing decision that most consumers face is whether to rent or to buy. So to help them with this decision, we took a look at the key market factors affecting the cost of homeownership.  First off, asking home prices have started to rebound and have risen by 2.3% year over year in August (3.8% excluding foreclosures); however, rents have risen more (4.7%). This means that prices are lower relative to rents than they were a year ago. But more importantly, mortgage rates have fallen: the best rates this summer have been around 3.5%, while last summer rates were closer to 4.5%. Based on asking prices and rents during the summer of 2012, buying is now 45% cheaper than renting in the 100 largest U.S. metros, on average – that’s a savings of $771 a month. If you plan to stay in a home for 7 years, which is the average time that Americans traditionally live in a home before moving again,it is more affordable to buy than to rent in ALL of the 100 largest metros in the U.S.

Costs aside, the decision to rent or buy a home is very personal. There’s a strong emotional component: some people want the security of homeownership and others want the footloose freedom of renting. But the financial factors are also very personal because the decision to rent or buy depends on:

  1. Can you qualify for a mortgage at the best rate available?
  2. Which tax bracket are you in, and do you itemize your deductions?
  3. How long will you stay in your home?

To calculate whether renting or buying costs less, we assume people can get a low mortgage rate of 3.5%, itemize their federal tax deductions and are in the 25% tax bracket, and will stay in their home for seven years. (Below, we’ll show how changing these assumptions can affect the rent-versus-buy math.) We do the following calculations:

  • First, we looked at all the homes for sale and rentals listed on Trulia in June, July and August 2012. On for-sale homes, we took the asking price and estimated what it would rent for; for rentals, we took the asking rent and estimated what it would sell for. That way, we can calculate the average rent and asking price for an identical set of properties in a metro area, for a direct apples-to-apples comparison. By looking at homes currently for sale or rent, we’re able to illustrate the actual housing options that consumers face right now.
  • Second, we estimated the total costs of renting and buying for the typical property in a metro over a seven-year period. We factored in all the costs of homeownership (e.g., closing costs, maintenance, insurance, taxes, etc.), along with the tax benefit of deducting mortgage interest and property taxes, as well as the proceeds from selling the home after seven years with modest home price appreciation. On the rental side, we factored in renters’ insurance and the security deposit. Finally, we calculate the net-present-value of all those costs to capture the opportunity cost of tying your money up in a down payment. This gives us the total cost of buying versus renting. We then calculated the dollar difference and percentage difference between renting and buying.
  • Finally, we looked at alternative scenarios of the costs of renting versus buying, by changing the mortgage rate, the income tax bracket for tax deductions, and the time horizon.

Where Buying is a Slam Dunk
With a 20% down payment, a 30-year fixed mortgage rate at 3.5% and at the 25% federal tax bracket, homeownership is cheaper than renting in all of the 100 largest metros by a wide margin. There is no market where the financial decision is even close, so long as you plan to stay in the home for at least seven years, get 3.5% mortgage, and itemize your tax deductions. However, how much cheaper it is to buy a home than to rent really depends a LOT on where you live.

As always if you are looking to Buy or Sell your home… please contact our Team of Professionals today. We can help guide you through the process and help you reach your goals today.

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Why Mortgage Rates, Tax Brackets and Timing Matters in the Rent vs. Buy Debate. Lifestyle of Long Beach and Real Estate.

Why Mortgage Rates, Tax Brackets and Timing Matters in the Rent vs. Buy Debate

Lifestyles of Long Beach & Real Estate

Lifestyles of Long Beach and Real Estate

LifestylesOfLongBeach.com 562-533-4003
Real Estate in Long Beach


But what if you can’t get the best mortgage rate, don’t itemize your tax deductions or stay in your home for less than seven years? Each of those raises the cost of homeownership, so buying wouldn’t be quite as good of a deal relative to renting. Here’s why each matters:

  • The best mortgage rates are available for people with the best credit scores – and a not-so-hot credit score could make your mortgage a full percentage point higher, which translates to at least a 10% difference in your monthly mortgage payment.
  • Itemizing your tax deductions lets you subtract your mortgage interest and property tax payments from your pre-tax income, which lowers your tax burden especially if you’re in a higher tax bracket. How much does not itemizing raise the cost of homeownership? It depends on your tax bracket and the amount of mortgage interest and property taxes you would deduct.
  • Selling a home in less than seven years after buying it means that you’re spreading your buying and selling closing costs overfewer years – making the average monthly cost of homeownership higher.

To see how your mortgage rate, tax bracket and time horizon affect the cost of renting versus buying, let’s look at several scenarios for a few large metros:

SCENARIO

New York

LA

Boston

Atlanta

3.5% mortgage, 25% tax bracket, stay 7 years (baseline)

-31%

-32%

-41%

-57%

4.5% mortgage *

-23%

-24%

-34%

-53%

Not itemizing tax deductions *

-18%

-21%

-30%

-50%

Stay 5 years *

-21%

-22%

-32%

-52%

4.5% mortgage, not itemizing, AND 5 years

3%

-1%

-12%

-40%

* For these scenarios, the factors not mentioned are the same as the baseline.

Take Los Angeles, for instance. The top row shows that if you can (1) get a 3.5% mortgage, (2) are in the 25% tax bracket and itemize your deductions, and (3) stay 7 years, it’s 32% cheaper to buy than to rent.

Change any one of those scenarios, and buying is still cheaper than renting but less so:

  •  With a 4.5% mortgage instead of a 3.5% mortgage, buying drops from 32% cheaper than renting to 24% cheaper.
  • Failing to itemize tax deductions drops buying from being 32% cheaper to21% cheaper.

  • Staying 5 years instead of 7 makes buying 22% cheaper.

  • But all three – the 4.5% mortgage, not itemizing, and staying only 5 years – makes buying just 1% cheaper than renting – as the bottom row shows.

In New York, these same differences make buying 3% MORE expensive than renting instead of 31% cheaper. In fact, with a 4.5% mortgage, not itemizing and staying only 5 years, buying is more expensive than renting in Honolulu(by 13%), San Francisco (by 10%), and San Jose (by 4%), too.

In the other 96 of the 100 largest metros, though, buying is still cheaper than renting. In Atlanta, for instance, where buying is 57% cheaper than renting in the best of circumstances (3.5% mortgage, itemizing, and staying 7 years), buying remains 40% cheaper even with a 4.5% mortgage, not itemizing, and staying only 5 years. In fact, today’s low mortgage rates make it financially better to buy even if you only stay put for 3 years in many metros. But buying a home also involves a lot of time, emotional energy and financial risk, so we can’t really recommend buying a home that you plan to live in for just 3 years even if the financial calculation is in favor of buying. Money isn’t everything.

Jed Kolko, Chief Economist

As always if you are looking to Buy or Sell your home… please contact our Team of Professionals today. We can help guide you through the process and help you reach your goals today.

Lifestyles of Long Beach and Real Estate.com 562-533-4003
LifestylesOfLongBeach.com , We are a Team of Realtors that work and live in Long Beach. The Ricardo The Realtor Team will make your real estate goals a reality. Call us today.

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Top Ten Things You Need to Know About the 3.8% Tax, Long Beach Real Estate

Top Ten Things You Need to Know About the 3.8% Tax 

Lifestyles of Long Beach & Real Estate

Learn more about the taxes and Long Beach Real Estate

1) When you add up all of your income from every possible source, and that total is less than $200,000 ($250,000 on a joint tax return), you will NOT be subject to this tax.
2) The 3.8% tax will NEVER be collected as a transfer tax on real estate of any type, so you’ll NEVER pay this tax at the time that you purchase a home or other investment property.
3) You’ll NEVER pay this tax at settlement when you sell your home or investment property. Any capital gain you realize at settlement is just one component of that year’s gross income.
4) If you sell your principal residence, you will still receive the full benefit of the $250,000 (single tax return)/$500,000 (married filing joint tax return) exclusion on the sale of that home. If your capital gain is greater than these amounts, then you will include any gain above these amounts as income on your Form 1040 tax return. Even then, if your total income (including this taxable portion of gain on your residence) is less than the $200,000/$250,000 amounts, you will NOT pay this tax. If your total income is more than these amounts, a formula will protect some portion of your investment.
5) The tax applies to other types of investment income, not just real estate. If your income is more than the $200,000/$250,000 amount, then the tax formula will be applied to capital gains, interest income, dividend income and net rents (i.e., rents after expenses).
6) The tax goes into effect in 2013. If you have investment income in 2013, you won’t pay the 3.8% tax until you file your 2013 Form 1040 tax return in 2014. The 3.8% tax for any later year will be paid in the following calendar year when the tax returns are filed.

7) In any particular year, if you have NO income from capital gains, rents, interest or dividends, you’ll NEVER pay this tax, even if you have millions of dollars of other types of income.
8) The formula that determines the amount of 3.8% tax due will ALWAYS protect $200,000 ($250,000 on a joint return) of your income from any burden of the 3.8% tax. For example, if you are single and have a total of $201,000 income, the 3.8% tax would NEVER be imposed on more than $1000.
9) It’s true that investment income from rents on an investment property could be subject to the 3.8% tax. BUT: The only rental income that would be included in your gross income and therefore possibly subject to the tax is net rental income: gross rents minus expenses like depreciation, interest, property tax, maintenance and utilities.
10) The tax was enacted along with the health care legislation in 2010. It was added to the package just hours before the final vote and without review. NAR strongly opposed the tax at the time, and remains hopeful that it will not go into effect. The tax will no doubt be debated during the upcoming tax reform debates in 2013.

(National Association of Realtors)

Lifestyles of Long Beach and Real Estate

Long Beach is comprised of communities that have something to offer everyone. These neighborhoods are all unique in their own ways. So if your looking to Buy or Sell your next home, work with a Local Team of Realtors that understands where we live.

Long Beach Homes for Sale: Naples Island,The Peninsula,Belmont Shore,Belmont Heights,Spinnaker Bay,Alamitos Heights,Park Estates,Bluff Park,Rose Park,Bluff Heights,beach,waterfront,realtor,

For all of your Real Estate needs and more… Call Ricardo the Realtor. Assuring you that my team of Realtors will make your Real Estate dreams a reality.

Communities include and are not limited to: Alamitos Heights, Bay Harbour, Belmont Heights, Belmont Park, Belmont Shore, Bixby Knolls, Bixby Terrace, Bixby Highlands, Bluff Park, California Heights, Carroll Park, College Park, Downtown, Deforrest Park, La Rochelle, Los Cerritos, Naples Island, Park Estates, Rose Park, Spinnaker Bay, Spinnaker Coves, The Peninsula, University Park Estates, Wrigley