Mary Jo Rogers

Hi Everyone!

Summer is over heating the inland valleys, so cool fog is the main tourist attraction at the coast. The tourists are shivering with delight beneath their Morro Bay sweatshirts. They're just happy to be out of the heat for a while. Hopefully they are spending a bit of their hard earned dollars while they're here, since it's been a tough year for small businesses in small towns. A few tourists, as well as, myself and a few other North Morro Bay residents, were fortunate to see a pod of dolphins and even a couple of whales close to the surf line in Estero Bay. What a thrill that was! The bay is host to seals, sea lions, otters and tons of birds, but rarely do we get a glimpse of dolphins or whales. It makes me feel even more lucky, if that's possible, to live on the beautiful Central Coast. Even though home prices have lost an average of 40% of their pre-recession values, homes aren't moving very fast unless they are foreclosures. However, short sales and foreclosures have dwindled in the last 4 months or so, but National real estate pundits say there's another wave of them due to hit the market soon. I'm glad the government is attempting to help some homeowners lower their monthly loan costs, but I haven't heard of anyone being successful yet in renegotiation their loan downwards, to reflect today's home values. The county, however will reassess over-valued homes, which should help lower taxes for those who bought in the high market. Real estate is now a long term investment rather than a way of "flippin' and making a fortune," unless you can buy foreclosures and even then maybe not. Real estate is still the best "wealth builder" around as a long term investment and, unlike stocks, it gives you a roof over your head!

At long last! On August 2, 2009 there will be a ground breaking ceremony for "Morro Bay Pups Dog Park." It will be held at Del Mar Park, in North Morro Bay, at 11AM. The Morro Bay Pups group, after many years, a plethora of garage sales, fund raisers and extended negotiation with the city and its notorious red tape, has secured permits for an "official" off-leash dog park. Of course, dog owners have been using the whole park as an off-leash area for many years, but now they will have their own special area. Bring your fun loving pups and join the celebration!

Get going and go to the ongoing, popular Art in the Park @ Dinosaur Caves in Shell Beach. There are 120+ vendors. It is held on the first Sunday of the month through November. Next date is 8/2.

Bargain Hunters, save your pennies for the Citywide Yard Sale in Morro Bay on 8/22-23. It is great fun and a good way for residents and others to exchange their treasures for dollars. Those items not sold can be disposed of in the Annual Fall Clean-up week from 8/24-28. How convenient!

Opera Buffs will be on the bluffs at the Chapman House, in Shell Beach, on the afternoon of 8/29, for the Pacific Repertory Opera's presentation of the "Broadway by the Sea" concert. Tickets are available by calling 541-5369. Call now as this event, with its music, fabulous location and ocean views sells out fast every year.

An Annual Labor Day tradition is a visit to Morro Bay's Art in the Park. It will be held 9/5-7 and is the last one until 2010. Don't miss this wonderful art show and sale by local and regional artists. For fun and funky items you need to see the Cayucos Peddlers Faire. Don't miss Cambria's Pinedorado and their annual parade.

An afternoon of fun will be had by all who attend Morro Bay's Annual Margarita and Avocado Festival on the embarcadero on 9/19. Sample Margaritas and Guacamole by various restaurants. What could be better? And, the next day, you could go to the Central Coast Wood Carvers demonstration and sale at the Cayucos Vets Hall!

Days of Fabulous Fall Fun! The annual Harbor Festival in Morro Bay will be held 10/3-4. There will be seafood tasting, wine and beer tasting, sand castles, marine exhibits, marine petting zoo, arts and crafts vendors and a variety of entertainment, including bands playing Rap to Rock.

The good: So far, the current 15% max tax rate for capital gains isn't scheduled to expire until the end of 2010, unless Congress changes it. However, even better, if your income is low enough, you can pay as little as 0%. That was done to help retired persons, emancipated minors and the self employed who had a bad year and sold stock and mutual funds to help keep their businesses afloat. (I'm not sure if anyone still has capital gains on any stock, but for those who do it's a great tax advantage.) The bad: Previously you could exclude gains upon sale of your principal residence of $250,000/$500,000 if you lived there 2 of the last 5 years. Many people figured this out and moved around to thier vacation homes, rentals, etc to take advantage every 2 years of this tax break. Oops, someone got wise to this and the law has now been changed. If you sell your principal residence that was previously a vacation home or rental, the gain may no longer excludable from income taxes...depending. For example, if you rented your home for 3 years, moved back for 2 years, only 40% of the gain is excludable. There are exceptions. If you're thinking about doing this contact a tax professional please!! The ugly: Good grief, they are taxes!! Nothing's good about paying them! Well, to be fair, clean water, schools, good roads, dams and sewers are necessary in today's world. So taxes..."can't live with ‘em, can't live without ‘em."

Hi Everyone!

Spring has sprung. Summer is around the corner. The howling March winds arrived in April downing a few trees, but....we live in paradise, so who cares? Glorious sun for a few more months, green hills fading to brown, wildflowers abound, no hoards of tourists (though we sure need their money) yet, but who cares, we live in paradise! The real estate market is lousy but who cares we live in paradise! At least we tell ourselves that, but we do have some foreclosures, some people have lost jobs and are behind in their house payments. Even though we think we live in paradise, we are wondering, like the rest of the country, when this miserable economic situation will turn around. Having read the papers and listened to economic pundits and real estate guru's the consensus seems to be that those with cash or who can get a loan with good down payment, will benefit from today's real estate market, but only until early 2010, then prices should flatten out for a year, then begin to rise again. Million dollar + homes were selling in 2006, so prices on them were high; low end and foreclosures sold in 2008 dragging those prices down; but not many of either in 2009 so far. However, the high end isn't selling, so prices are now dropping. Everyone wants a bargain and sellers who need to sell can offer them that bargain. It's a great time to buy if you can and plan on holding for 5 years or so. Where else are you going to put your money? The stock market, CD's, or T-Bills? NOT!

FYI

Tax break for widowed homeowners You now have up to two years following a spouse's death to sell your jointly owned home and keep up to $500,000 in profits tax-free. Previously a homeowner had to sell his, or her principal residence in the same year as a spouse's death to qualify for the exclusion. If they waited longer they could only deduct up to $250,000, the same as a single person. Check with your tax advisor before making any such decision however.

Upcoming Local Events

Quilt and garden art Don't forget to go to two events over 4/25-26. One's the fabulous Seven Sister's Quilt Show at the Madonna Expo Center on both days. View 350+ pieces of art for only $7.00. On Sunday 4/46, noon-5PM, enjoy eight "Secret Gardens of the Central Coast" a highly anticipated AAUW annual event!

Wine art at the Paso Robles 27^th Annual Wine Festival held on May 15-17 with wine tasting at City Park and events throughout the Paso wine country including winemaker dinners, open houses, winery tours, etc.

Car art. at the Crusin' Morro Bay Car Show. Another fabulous display of old cars this year, beginning on May 1st for registration, May 2^nd for Cruise Night, and Show "n" Shine on both Saturday & Sunday. Over 400 cars.

Classy Art at Art in the Park in Morro Bay on 5/23-5/25, also July 4-5. Funky art at the Peddler's Faire in Cayucos over the holiday's also. In addition, there's a new Art in the Park @ Dinosaur Caves park in Shell Beach.

Music as art, in Morro Bay on June 6^th between 11AM and 7PM. Wine, beer, BBQ, 29 vendors and the best of local music and national rising stars. For more info on the talent, check out www.mbmusicfest.com

Conservation, an art? The annual WaterFest 2009 is a family friendly event held at Morro Rock on 6/20. It features entertainment and educational activities focusing on water quality protection, conservation and water shed information on our beautiful bay.

Firework art in the evening over the bay in Morro Bay, includes a family oriented July 4^th celebration at Tidelands Park. In Cayucos the celebration includes a morning parade, sand sculpture contest and fireworks over the pier. The annual huge fireworks display over the pier will also be held in Pismo Beach.