Ghost Walk Tonight!
Every once in a while we have to toot our own horn. Especially when it coincides with a fun event that is happening in Riverside. This weekend is one of those events! California Riverside Ballet’s GHOST WALK is taking place tonight and tomorrow night. What makes this even more exciting for us is that the Ransom-McKenzie Team is sponsoring a story for these evenings of haunted stories. In fact, Charlotte’s son Jared will be performing on the Dark Dreams tour together with his North High School theater friends.
Friday & Saturday, October 26th & 27th
If you’re not familiar with Ghost Walk, you’re missing out! Downtown Riverside becomes a spooky, happening place for this annual event. Charlotte’s son is not the only one participating in the telling of ghoulish stories. There are six different tours to choose from each night. The tours take about one and a half hours to complete and each one offers sneak peeks into some of Downtown Riverside’s oldest and most historic buildings. Another added bonus is the special dance presentation which opens every tour. Participants may also return to watch more than one of the multiple dances that will be presented each night.
In addition to the tours and dance performances, the Main Street Mall (between 6th & Mission Inn) will become a Midway Carnival from 5:30 – 9:30pm each night. Tours leave from Main the Main Street Mall about every 20 minutes from 6:00pm until 11:00pm. Some tours are sold out, so you’ll want to call ahead or book online to reserve your space now! Tickets are only $15.00 and there are group discounts available. Visit the Ballet’s webpagefor more information or call 951-787-7850.
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Culver Center Free Concert!
Labrynth & Teslim: Free Concert
Thursday, October 18, 8:00pm ________________________________________
Featuring original compositions and traditional music from Greece and beyond. This free concert is part of UC Riverside’s Voices of Change series which is dedicated to the “lively exploration of art, artist, and self, one event at a time. Free events like this are another reason that we enjoy such a great quality of life here in Riverside.
Revered Crete-Based composer-performers Ross Daly and Kelly Thoma of Labrynth join the exploratory string duo Teslim (Kalia Flexer and Gari Hegedus) in a mesmerizing evening of instrumental music inspired by the modes and odes of Greece. The quartet displays astonishing skill at presenting instrumental songs wrung through impossibly complicated rhythms rooted in the musical traditions of the Mediterranean and Near East.
The concert will take place at the Culver Center of the Arts on Tomorrow Night at 8:00. The doors open at 7:00pm and seating is on a first come, first served basis. For more information on the artists, visit UC Riverside Presents’ information page.
Help spread the word about this free event. Share our blog with your friends & family so that everyone has a chance to enjoy these events!
Fox Entertainment Plaza
COMING SOON!!
The City of Arts & Innovation is preparing to celebrate the opening of yet another venue to support the arts, entertainment and growth downtown. The Fox Entertainment Plaza is close to completion!
Construction is moving along quickly on the parking structure (right), Entertainment Plaza (center) and Black Box Theater.
The complex will include a 400 space parking structure, 10,000 square feet of exhibit space for the Riverside Metropolitan Museum, and 12,000 square feet of restaurant and retail space. The restaurant occupant has not yet been confirmed but the City says they are in talks with numerous options. In addition to the retail and parking, there is going to be a 4,000 square foot Black Box Theatre. A black box theater is a flexible space that can be reconfigured to accommodate different types of performances.
The Fox Entertainment Plaza connects to Route Six of the City’s Seizing our Destiny plan. This route is titled Around the City, Around the Year, Around the Clock. This route states:
Riverside buzzes with an unmatched array of nationally recognized and regionally distinctive destinations delighting people of diverse interests, age groups and lifestyles by providing a mix of popular venues for dining, shopping, entertainment and socializing.
When the Fox Entertainment Plaza is complete, and the space is full, it will most certainly add to the diverse venues available Downtown.
Artist’s rendering of the Fox Entertainment Plaza’s front facade along Market Street.
YOU CAN NAME IT
The City is asking our residents to help out with the naming of the Black Box Theater and the Exhibit Hall portion of the Plaza. You can cast your votes up to October 22, 2012 by clicking on the “Vote Here” link below. If you don’t like the name options given in the survey, you even have the opportunity to add your own suggestions. As we anticipate the arrival of this venue, it is fun to have the opportunity to participate in the project one last time.
Let us know what you think! Keep the conversation going Riverside.
More Fun in Riverside!
Well, we had a fabulous time at the Long Night of Arts & Innovation. How about you? It was wonderful seeing Downtown teeming with activity. The exhibits along Main street between University and Mission were loads of fun, and all of the galleries and museums put a lot of effort into having great exhibits and activities going on. What was your favorite part of the evening?
If you’re looking for fun events this weekend, there is something for everyone. Two events that caught our eye are the Mayor’s Ball for the Arts & Innovation tonight, and the Citrus Classic Bike Ride event tomorrow. Both are events which support great causes. The Mayor’s Ball, which will be celebrating their 35th year tonight, supports the Arts Council, and the Citrus Classic Supports Riverside Educational and Enrichment Foundation (REEF).
MAYORS BALL FOR THE ARTS & INNOVATION:
One of Riverside’s longest running and most exciting annual events arrives with a whole new look as the Mayor’s Ball for Arts and Innovation transforms the sixth floor of Downtown Riverside’s elegant Citrus Tower into a celebration unlike any other. The event highlights the City’s finest artists and arts organizations, along with the technology research and education that have helped make Riverside the Most Intelligent City in the World. Music, performance, exhibition, dancing and a Taste of Riverside-style representation of some of the City’s best restaurants combine with the most unique event location of all time to create a night to remember. Tickets are $75, and all proceeds from the event support the Riverside Arts Council and their Community Arts Partnership program, serving nearly 80,000 residents through grants provided to non-profit arts and cultural organizations. For more information, visit the Arts Council’s Website today or call (951) 680-1345 !
RIVERSIDE CITRUS CLASSIC:
The Riverside Citrus Classic is a fundraising event which was started by the Leadership Riverside Class of 2010. They felt that creating an event which would support our local schools with grants and funding for classrooms was an important endeavor. Little did they know who successful and fun the event would become. Three years later, we’re expecting over 1,000 riders to participate in the event. There is something for everyone! Organized rides include a 100 mile, 50 mile , 28 mile, 7mile, and a Kiddie ride. Come out and enjoy the fun!! They are holding registration in the old Boarders at the Riverside Plaza today from 2-6pm! It is not too late to join the fun. If you’re pre-registered for the event already, beat the crowds and go down today to pick up your number, shirt, and goodie bag.
For more information on the event, visit the City’s Page for the Citrus Classic event.
Riverside’s Long Night of Arts & Innovation
If you have not heard about it yet, get ready to mark your calendar. Next Thursday, October 4th, is an inaugural event you won’t want to miss. The Long Night of Arts & Innovation is going to be an incredible opportunity to actively learn about, and experience first hand how the arts and innovative technology are strong economic drivers for the City of Riverside. This event was created based on a Long Night event that occurs in our sister city Erlangen, Germany. After a visit to Erlangen last year Mayor Ron Loveridge and a delegation from Riverside enjoyed their Long Night event they decided to bring the idea back to Riverside. We have so much to showcase in our community, The Long Night of Arts and Innovation will share all that happens in the art and innovation industries in the city.
From 6pm until midnight you’ll be able to enjoy live demonstrations, performances, exhibits, and hands on activities at over 130 venues throughout downtown Riverside. This will not be just your regular First Thursday event! The University of California at Riverside (UCR), California Baptist University (CBU), La Sierra University (LSU) and Riverside Community College (RCC), along with the Riverside Philharmonic, the Riverside Metropolitan and the Riverside Art Museums will “open their doors” in a centralized downtown location for all those interested in the arts and sciences.
It will be a challenge to not be enthralled for the full six hours of the event. (If you choose to arrive at the start.) You’ll be able to listen to lectures on everything from spiders to Avatar plants, experience the universe through UCR’s Keck telescope, visit the Riverside Philharmonic’s musical petting zoo, watch culinary demonstrations with RCC Culinary Institute and Phood on Main, experience magic shows, Tesla coils and more! For a detailed schedule of everything that will be taking place, here is a printable schedule of all the presentations. You will want to take a look at this schedule prior to going to the event so you can map out your plan for the evening. There is even a handy chart on the last page just for this purpose.
So, come Downtown next Thursday and get ready to experience a plethora of Art & Science.
In case we haven’t convinced you yet, here is a link to the City’s sneak peek video page, . We’ll see you on Main Street!
3.8% Tax Update: Fact v.s. Fiction
Three has been a lot of hype in the real estate world regarding the 3.8% tax associated with the Obama administration’s Healthcare Act. A lot of this hype sounds rather scary for a homeowner who is considering selling their home, or for a buyer who can’t afford additional costs added to their closing costs.
As Realtors, we are members of the National Association of Realtors (NAR), which is a great resource for us whenever we have questions from our clients. As we have heard concerns regarding this tax issue, we thought that it would be a good time to present to you the top 10 things that you should know about the 3.8% tax according to NAR. Hopefully this list will help to sort the facts from the hype.
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.
The bottom line is that very few homeowners will ever have to think about, or be concerned with paying this tax. The best advice is what we tell our clients to do whenever there are questions about tax implications in a real estate transaction. That advice is, consult your tax professional.
For a more detailed rundown of what the NAR’s position is on this legislation, refer to the handout attached to the link below.
Endeavour Arrives Friday!
There is a historic event happening tomorrow in Los Angeles which we felt would be worth mentioning. If you’re wondering why we’re so excited about a space shuttle arrival in Southern California, here is a little history regarding the Ransom-McKenzie connection to the Space Shuttle programs.
When the Space Shuttle program started in the early 80’s, Connie and Roger, along with Rogers’s older brother David, raced out to Edwards AFB in the middle of the night to witness the early morning landing of the first shuttle sent to explore space by NASA. That was April 14, 1981 and the shuttle was Columbia. A moment in history celebrating the first test flight of what was , at the time, the most complex spacecraft ever built.
STS-1 or Columbia as it was later named, landed on a dry lake just outside of Edwards AFB.
Columbia’s flight was the first of many shuttle excursions into space. Some successful, some tragic. In fact, the Columbia Shuttle met a tragic end in 2003 as she disintegrated during re-entry on her 28th mission.
With NASA’s change in direction, and the retirement of the Shuttle program, the next stops for these amazing ships are museums. Here in Southern California we are fortunate to have the shuttle Endeavour arriving for exhibit at the California Science Center. Endeavour is actually the “youngest” of the Space Shuttle ships. Her new, temporary, home will be the Samuel Oschin Pavilion which opens October 30th. Eventually Endeavour will be the centerpiece of the Samuel Oschin Air and Space Center which will be a new wing at the museum.
Endeavour will be arriving on the back of a 747 Friday morning.
The Science Center is very excited about the arrival of the Endeavour Shuttle. “Space shuttle Endeavour is now on her way home to California! Flying across the country on the back of a specially modified Boeing 747 Shuttle Carrier Aircraft, Endeavour will arrive at LAX (weather permitting) on Friday, September 21, 2012 .
Around 10:30 am on Friday, or shortly after, watch for flyovers of Endeavour in the Los Angeles area. There will be opportunities to see Endeavour passing regional landmarks such as, its future home at the California Science Center, Los Angeles City Hall, Disneyland, the Getty Center, Griffith Observatory, Long Beach Aquarium of the Pacific, Malibu, NASA’s Jet Propulsion Laboratory in Pasadena, Queen Mary, Universal Studios and Venice Beach, among others.”
If you have time, it might be worth a drive into LA. The final chapter of NASA’s Space Shuttle programs.
Riverside’s Mid-Century Homes
The Ransom-McKenzie Team has represented a number of Riverside’s Mid-Century gems this year. We discuss the historic significance of this style of architecture in our most recent Your Villa feature article. To view the article and the fabulous pictures which accompany it, click on the caption below.
Clint Marr’s design features outdoor spaces which meld seamlessly with the indoor rooms of the home.
Riverside’s neighborhoods have surprises around every corner, you just need to know where to look. Give Connie & Charlotte a call if you would like us to help with your next Riverside real estate adventure.
Riverside Newcomers & Neighbors
We’re always surprised when we hear people ask if there is “anything to do in Riverside”. Granted, we’re not Los Angeles or San Francisco, but The City of Arts & Innovation has a lot to offer our residents. Not only are there exciting arts venues in the City, we also are host to a plethora of community organizations that offer opportunities for residents to get together and find common interests to gather around.
One such group is the Riverside Newcomers & Neighbors group. When Charlotte moved back to Riverside after a 20 year hiatus this was a group she and her husband joined. It offered a link to new and old acquaintances in the city and an opportunity to socialize with people who had like interests. Whether you are new to Riverside or not, this is a fun group of individuals. There are people who have been members for over 20 years alongside people who just joined 2 months ago. This provides a great way for you to get to know Riverside from a multitude of perspectives.
Join Riverside Newcomers & Neighbors at their Open House this Week.
We bring this up today because this week, the Riverside Newcomers & Neighbors will be holding their annual Open House at City Hall! The event will take place on the 7th floor in Grier Pavilion. This is an opportunity to learn more about the group, including information on their various interest groups. Join fellow Riversiders and become a member of this vibrant group as we celebrate the start of a new year with Friends & Neighbors. The event details are listed below.
Date: Wednesday, September 19th
Time: 6:00pm – 8:00pm
Place: City Hall’s Grier Pavilion, 7th Floor
Please e-mail the RNN at info@rivnewcomers.org if you plan to attend.
If you can’t make it to Wednesday’s event but would still like to join. You can fill out an application online to join the club. Just click here to visit the RNN website.
The Ransom-McKenzie Team 