Archive for State News
3 Good Reasons to Love Real Estate
This being Valentine’s Day we thought it appropriate to focus on what there is to love about real estate. We came across the following information in a recent issue of SmartMoney Magazine. You may find it useful in motivating your buyers to make their move now. 1. Smart people are buying real estate. Last fall [...]
Buy Owner Files For Liquidation But Takes On New Clients
Buy Owner, a broker-free service for individuals who would like to sell their home without hiring a REALTOR, has filed for liquidation. They have filed for a liquidation of the company as a whole in attempts to keep the business up and running rather than liquidate individual assets; however, it’s unclear at this time if [...]
Appraisal Relief
Finally, it looks like we may a have little help with some of the horrible appraisal issues. For the last few years lenders have been undervaluing properties. They would not only order an on-site appraisal but many times they would also do a “desktop appraisal” which is slightly better than checking Zillow. Upon receiving the [...]
14,830 Reasons The Home Buyer Tax Credit Should Be Extended!
If you’re looking to cash in on the home buyer tax credit, today is your last day to close. There have been talks of an extension for a while but it can’t seem to get the support from our lawmakers. Currently, there are an estimated 14,830 home sales in Florida which will be delayed past [...]
$75 million for a 13 bedroom UNFINISHED mansion?
Much of the US has seen the effects of the slowed economy, from the job market to the housing market. David Siegel, billionaire and CEO of the time-share firm Westgate Resorts, is no exception. A year ago, Siegel halted construction on his 90,000 square foot mansion when the effects of the economy took their toll [...]
What would happen if a hurricane hit the oil slick in the Gulf?
While we here in Tampa Bay sit wondering when and if the oil is going to hit our coast, MIT hurricane experts are concerning themselves with another scenario which could have even worse consequences. What would happen if a hurricane hit the oil slick in the Gulf? With hurricane season upon us and no end [...]
New Guidelines for Short Sales
As of April 5th, lenders have new guidelines for the short sale process. These new guidelines have been put in place in an attempt to speed up the process which can take an average of 4-6 months. Along with speeding the process, the new guidelines also offer monetary incentives to both the banks and the [...]
$8,000 Tax Credit for Down Payment
The deadline for the $8,000 tax credit is quickly approaching and the state has approved doing short term loans so that the tax credit can be used for your down payment but where is the money? While the state has approved doing the short term loans, each county is responsible for managing the money that’s [...]
Update – $8k Tax Credit
The recently passed $8,000 Tax Credit Down Payment Assistance program passed by the State of Florida seemed doomed when FHA announced that the assistance program could not be used as down payment. The program isn’t doomed but FHA has set some guidelines. You still must have 3.5% of your own funds (or funds gifted from [...]
New Info on Down Payment Assistance Using $8k Tax Credit
WASHINGTON – May 29, 2009 – The U.S. Department of Housing and Urban Development (HUD) released more details today about its program to help first-time home buyers use a tax credit as part of a down payment. HUD announced the program on May 12 at the National Association of Realtors® Housing Summit. In the interim, [...]