Flags are flying in Arnold in Honor of Our Vets

If you have driven up and down the Ebbetts Pass Corridor the last few days you have no doubt seen the new patriotic eye fest. The Ebbetts Pass Veterans Memorial District and Scout Troops from Arnold & Murphys have festooned the area in Honor of Memorial Day.

The district helped with the funding of the project and the Scout Troops from the respective areas were in charge of mounting & display. We hope the flying of the flags become a preferment part of the holiday landscape. Thanks to everyone involved for doing this in honor of everyone who has served our county. Courtesy: ThePineTree.net

Happy Memorial Day Weekend from CENTURY 21 Sierra Properties

It's Frog Jump Weekend!

Calaveras County Fair & Jumping Frog Jubilee

Fair Dates: May 14-18, 2008
Theme: Heard it through the Bovine

The world-renowned Calaveras County Fair & Jumping Frog Jubilee has a rich heritage dating back to the 1800’s. In the early Gold Mining Days, the Mother Lode Country was very prosperous. It attracted many industrious individuals looking for adventure. One such individual was Samuel Clemens who regularly made the trip from San Francisco to a small mountain cabin near Angels Camp. It was during one of Mr. Clemens’ trips that he heard a tale that inspired his first published work, “The Celebrated Jumping Frog of Calaveras County”. The story records the antics of a character named Jim Smiley and his frog Dan’l Webster. Mr. Clemens first published this story in 1865 and used his pen name, “Mark Twain”, and so the legend began.

Today the adventure continues, we still jump frogs as part of the Calaveras County Fair and Jumping Frog Jubilee, which is held annually the 3rd weekend in May. This “Old-Fashion County Fair” features exhibits, entertainment, rodeo, horse events, livestock exhibits and the best little carnival in the west. Everyone is your neighbor and you are hosted by the friendliest people on earth.

Visit the Official Website

Let us know if you need a place to stay!

Hwy 4 Clean-Up Day

Today we cleaned up our stretch of Hwy 4 from Meadowview through the town of Arnold and up past Moran Road. We wanted it to be nice and tidy for when you come up and visit on Memorial Day Weekend!

Stunning Dorrington Home

View the Virtual Tour of our Vacation Rental in Dorrington, CA

Our New Vacation Rental Website

If you've noticed, we haven't been making any posts during the month of March. That's because we have been furiously working on our new CENTURY 21 Sierra Properties Vacation website. It's now live so check it out at www.c-21sierraproperties-rentals.com

Angels Camp Bypass Construction to Commence

By John Hamilton thepinetree.net

Angels Camp, CA

Calaveras County Council of Goverments Director, Timothy J. McSorley has announced that the construction phase for the New Angels Camp Bypass will begin on April 14, 2008. All right of way issues have been resolved and should be wrapped up soon. The first phase will be construction of the bridges. Once the bridges have been completed then the focus of construction will shift to the roadways.

This project has taken almost 30 years to get to this point. Once it is completed it should have numerous benefits to the area. It will speed the flow of traffic up and down to Murphys & the High Country and it will also allow for enhancements to downtown Angels Camp. With the reduced through traffic the historic area of Angels Camp can focus on becoming a shopping and tourist mecca. The City has already held several meetings and hired an outside consulting company to guide them on the best steps they can take make the area even more alluring.

Good Tax News for Vacation and Second Home Owners

Revenue Procedure 2008-16 - Safe Harbor for Exchanges of Vacation Homes and Conversions to or from Personal Residences

This revenue procedure, which will be effective for exchanges occurring on or after March 10, 2008, establishes a safe harbor regarding when a vacation home can be considered investment property and traded in a 1031 exchange. The ruling states that a vacation home qualifies for a 1031 exchange if the investor owns the home for at least 24 months, rents it for at least 14 days for each 12-month period, and uses it no more than the greater of 14 days per year or 10 percent of the number of days during the year that the home is rented. These requirements apply to both the relinquished and replacement properties.

For purposes of this revenue procedure, a vacation home, also called a "dwelling unit" in the Revenue Procedure, is real property improved with a house, apartment, condominium, or similar improvement that provides basic living accommodations including sleeping space, bathroom and cooking facilities.

Read the IRS Procedure and consult your Tax Professional
Rev. Proc. 2008-16 on Safe Harbor for Like-Kind Exchange of Dwelling Unit