Purchasing a New Home in Rolando, San Diego

 

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Rolando, San Diego

About Rolando: Rolando is located just 3.1 miles from beautiful Lake Murray and 15 minutes east of downtown San Diego. Rolando is a neighborhood of the Mid-City region of San Diego, California. Rolando is mostly residential with the exception of El Cajon Boulevard, which features the Campus Plaza shopping center. Rolando is divided by University Avenue into two sections: Rolando Village to the north, and Rolando Park to the south. Decorative public walkways known as "Catwalks" for pedestrians and joggers to travel between neighborhood streets are spread throughout Rolando. Rolando hosts two elementary schools, both part of the San Diego Unified School District: Henry Clay Elementary and Rolando Park Elementary Schools.

Current Single Family Homes For Sale: There are currently 7 detached homes for sale in Rolando.  The average home is 3 bedroom, two bath,  1365 square feet with an average sale price of $630,000.

Lake Murray: Lake Murray is a reservoir in San Diego, California, operated by the City of San Diego's Public Utilities Department. It is located within Mission Trails Regional Park. When full, the reservoir covers 171.1 acres, has a maximum water depth of 95 feet, and a shoreline of 3.2 miles.  There is a wonderful trail that goes around the lake for running, walking, dog walking and biking.

Location: Rolando 15 minutes East of downtown San Diego and 3 miles from Lake Murray.  It is bordered by College area to the North, La Mesa to the East, Oak Park to the West and Lemon Grove to the South.

Hiking/Biking: As mentioned previously Lake Murray is a terrific place to get some shade, enjoy the lake and get some exercise.  Just to the South is the tiny oasis known as Chollas Lake Park. A 16-acre lake for free youth fishing (age 15 and under ONLY); an 8/10-of-a-mile dirt path around the lake for walking, jogging, and bicycling; picnic tables with barbecue grills; children's play equipment; a small basketball court; hiking trails; and a multi-purpose ball field in North Chollas canyon. 

Other Cool Hikes in the Area:

Mission Trails Regional Park.  Directions to Mission Trails from Rolando

Balboa Park: Directions to Balboa Park from Rolando

Morley Field: Directions to Morley Field from Rolando

Local Breweries:

While Rolando does not have any local breweries there are quite a few in close proximity. 13 minutes Southwest is the town of North Park and the beer famous 30th Street. North Park is home to 14 local craft breweries.  Some of my favorites are

Mike Hess Brewing

Modern Times Brewing

Just to the East in the town of La Mesa there are a couple of fun breweries to add to your list as well.

Little Miss Brewing

Helix Brewing

Wine Tasting Rooms: While there are no tasting rooms in Rolando just go 8 minutes to the East to the village of La Mesa!

San Pasqual Winery

La Mesa Wine Works

Rolando Coffee Shops:

Ultreya Coffee

Duet Coffee

and of course....Starbucks

Breakfast Joints in Rolando:

Directions to the Daily Grind Cafe

Sunshine Pancake House

Best Dinner Locations in Rolando:

Pesto Italian Craft Kitchen

Garden Kitchen........Hidden Gem!!!

Thank you from the Michels Group, Real Estate Professionals.  If and when you are ready to sell or purchase a home, please consider us to be your Realtor of choice. Or if you wish to refer someone you know and care about, we are here to help. Thanks to you, our business continues to thrive and grow due to referrals from clients, friends, associates, and others just like you!  Who is the next person you know who would benefit from our services?

Summary from the National Association of REALTORS on How the New Tax Bill will Affect Homeowners

With the passing of the new tax bill, everyone wants to know how it will affect them. Below is a summary created by the National Association of REALTORS for current and prospective homeowners and provisions that affect commercial real estate. 

Major Provisions Affecting Current and Prospective Homeowners

• Tax Rate Reductions

  
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  • The new law provides generally lower tax rates for all individual tax filers. While this does not mean that every American will pay lower taxes under these changes, many will. The total size of the tax cut from the rate reductions equals more than $1.2 trillion over ten years.
  • The tax rate schedule retains seven brackets with slightly lower marginal rates of 10%, 12%, 22%, 24%, 32%, 35%, and 37%.
  • The final bill retains the current-law maximum rates on net capital gains (generally, 15% maximum rate but 20% for those in the highest tax bracket; 25% rate on “recapture” of depreciation from real property).
     

• Exclusion of Gain on Sale of a Principal Residence

  • The final bill retains current law. A significant victory in the final bill that NAR achieved.
  • The Senate-passed bill would have changed the amount of time a homeowner must live in their home to qualify for the capital gains exclusion from 2 out of the past 5 years to 5 out of the past 8 years. The House bill would have made this same change as well as phased out the exclusion for taxpayers with incomes above $250,000 single/$500,000 married. 
     

• Mortgage Interest Deduction

  • The final bill reduces the limit on deductible mortgage debt to $750,000 for new loans taken out after 12/14/17. Current loans of up to $1 million are grandfathered and are not subject to the new $750,000 cap. Neither limit is indexed for inflation.
  • Homeowners may refinance mortgage debts existing on 12/14/17 up to $1 million and still deduct the interest, so long as the new loan does not exceed the amount of the mortgage being refinanced.
  • The final bill repeals the deduction for interest paid on home equity debt through 12/31/25. Interest is still deductible on home equity loans (or second mortgages) if the proceeds are used to substantially improve the residence.
  • Interest remains deductible on second homes, but subject to the $1 million / $750,000 limits.
  • The House-passed bill would have capped the mortgage interest limit at $500,000 and eliminated the deduction for second homes.
     

• Deduction for State and Local Taxes

  • The final bill allows an itemized deduction of up to $10,000 for the total of state and local property taxes and income or sales taxes. This $10,000 limit applies for both single and married filers and is not indexed for inflation.
  • The final bill also specifically precludes the deduction of 2018 state and local income taxes prepaid in 2017.
  • When House and Senate bills were first introduced, the deduction for state and local taxes would have been completely eliminated. The House and Senate passed bills would have allowed property taxes to be deducted up to $10,000. The final bill, while less beneficial than current law, represents a significant improvement over the original proposals.
     

• Standard Deduction

  • The final bill provides a standard deduction of $12,000 for single individuals and $24,000 for joint returns. The new standard deduction is indexed for inflation.
  • By doubling the standard deduction, Congress has greatly reduced the value of the mortgage interest and property tax deductions as tax incentives for homeownership.Congressional estimates indicate that only 5-8% of filers will now be eligible to claim these deductions by itemizing, meaning there will be no tax differential between renting and owning for more than 90% of taxpayers.
     

• Repeal of Personal Exemptions

  • Under the prior law, tax filers could deduct $4,150 in 2018 for the filer and his or her spouse, if any, and for each dependent. These exemptions have been repealed in the new law.
  • This change alone greatly mitigates (and in some cases entirely eliminates) the positive aspects of the higher standard deduction.
     

• Mortgage Credit Certificates (MCCs)

  • The final bill retains current law.
  • The House-passed legislation would have repealed MCCs.
     

• Deduction for Medical Expenses

  • The final bill retains the deduction for medical expenses (including decreasing the 10% floor to 7.5% floor for 2018).
  • The House bill would have eliminated the deduction for medical expenses.
     

• Child Credit

  • The final bill increases the child tax credit to $2,000 from $1,000 and keeps the age limit at 16 and younger. The income phase-out to claim the child credit was increased significantly from ($55,000 single/$110,000 married) under current law to $500,000 for all filers in the final bill.
     

• Student Loan Interest Deduction

  • The final bill retains current law, allowing deductibility of student loan debt up to $2,500, subject to income phase-outs.
  • The House bill would have eliminated the deduction for interest on student loans.
     

• Deduction for Casualty Losses

  • The final bill provides a deduction only if a loss is attributable to a presidentially-declared disaster.
  • The House bill would have eliminated the deduction for casualty losses with limited exceptions.
     

• Moving Expenses

  • The final bill repeals moving expense deduction and exclusion, except for members of the Armed Forces.
  • The House-introduced bill would have eliminated the moving expense deduction for all filers, including military.
     

Major Provisions Affecting Commercial Real Estate

• Like-Kind Exchanges

  • The final bill retains the current Section 1031 Like Kind Exchange rules for real property. It repeals the use of Section 1031 for personal property, such as art work, auto fleets, heavy equipment, etc.
  • The exclusion of real estate from the repeal of 1031 like-kind exchanges is a major victory for real estate stakeholders, who had fought hard to preserve the provision for several years, and against long odds.
     

• Carried Interest

  • The final bill includes the House and Senate language requiring a 3-year holding period to qualify for current-law (capital gains) treatment.
  • Again, real estate stakeholders prevailed against long odds to preserve the incentive of capital gains treatment for carried interests in the final legislation.
     

• Cost Recovery (Depreciation)

  • The final bill retains the current recovery periods for nonresidential real property (39 years), residential rental property (27.5 years) and qualified improvements (15 years). The bill also replaces separate definitions for qualified Restaurant, Leasehold, and Retail improvements with one definition of “Qualified Improvement Property.”
     

• Qualified Private Activity Bonds

  • The final bill retains the deductibility of qualified private activity bonds used in constructing affordable housing, local transportation and infrastructure projects and for state and local mortgage bond programs.
  • The House bill would have eliminated the use of private activity bonds.
     

• Low Income Housing Tax Credit

  • The final bill retains current law. However, a lower corporate rate will negatively impact the value of the credits in the future, and will result in less low-income housing being developed.
     

• Rehabilitation Credit (Historic Tax Credit)

  • The final bill repeals the current-law 10% credit for pre-1936 buildings, but retains the current 20% credit for certified historic structures (but modified so the credit is allowable over a 5-year period based on a ratable share (20%) each year).
  • The House bill would have entirely eliminated the Historic Rehabilitation Credit.