You might consider what is most important to you in the real estate  person you want to work with.  Is the perfect person someone who is ready to jump at a moments notice?  Perhaps,  it’s more important that they fight, claw and scratch to get a big  ”discount” off the asking price?  Maybe, the perfect person is one who can listen enough to really learn your wants and needs and use the information to actually find you the perfect home.   There is no substitute for experience, but experience is not enough!  The right real estate person needs to have your concerns and needs ahead of their own. If the person is more concerned about how quickly you sign on the dotted line than addressing your concerns, it may be a sign that they not working in your best interest. Don’t get me wrong, if you are well-informed, you don’t have to look at every house on the market before you decide either.

If you are looking for a new home, don’t be surprised if  the real estate person is reluctant to just jump in the car.  A true professional will not show you any properties until you have been pre-qualified by a quality, local mortgage professional.  Why? It has never been more difficult to get a mortgage loan. A good mortgage person may be the difference between success and disappointment. 

 Once you have an honest idea of the amount you can afford to spend on the perfect house,  you have to decide on location, size, amenities, community and more. The real estate person you work with is going to be your guide throughout the transaction.  This is going to be true for home inspectors, surveyors, title  companies.  An experienced real estate person will  help prioritize your home search as well as complete the transaction to it’s closing. 

Work to avoid the traps!  You don’t have to buy the same size house as your friends or even the same neighborhood.  Our marketplace is full of short sale and bank owned properties that well intentioned, educated buyers bought because their eyes were bigger than their brains!  If a property appears too good to be true, it might be. Not everyone who holds a real estate licence knows what they are doing and some sellers are not always well advised.  It is not enough to get the “deal”,  the transaction has to close before you become a home owner. 

 Once you find the perfect house it’s time to set up the closing, right?, Not so fast. You have to deal with sales contracts, deadlines, property appraisals, wood destroying organism inspections, home inspections, septic inspections,  flood zone determinations,  surveys,  recent sale activity reports, Va inspections, FHA inspections, underwriter reviews, homeowners insurance reviews, school reports and more!  There could be BPO reports, short sale mortgage negotiators, bank owned property addendums, utility issues, homeowners association estoppel problems and the list goes on and on.

An experienced real estate professional will help you with all the steps it takes to buy a house in today’s real estate market.  Choosing the right professional to assist you can go a long way to you experiencing one of the most exciting times in your life.  Happy home hunting!    

Jeff Daniels is a full time Licensed Realtor working in the Tampa Bay area for over 19 years. Feel free to visit  www.TampaFloridaHomeFinder.com  or call Jeff Daniels at Keller Williams Realty at 813-661-2480  for everything you need to make Florida Home. 

On November 2nd, Florida voters are going to decide on a state constitutional amendment that will all but destroy the future of our state, it’s called AMENDMENT 4.  At first glance, it appears to imply that you will finally get a say in what happens in your community. The truth is, buried in the feel good words is an insidious effort by some extreme environmentalists and their lawyers  to stop any future capital investment in Florida.

Having the ability to vote whether or not that new what ever gets built in your county sounds good, right?  No, because the opposite will occur.  Last year, there were over 12,000 comprehensive land use change requests in Florida. In the counties that make up  Tampa Bay it’s likely that there could be hundreds of requests in a year. Can you imagine voting two or three times a year on dozens of requests? Voters will likely face pages and pages of requests with little more than a couple of sentences to decide by. What the proponents are not telling us is that people will just stop voting!  The end result will be far worse than our current system of public hearings, representative authorities and public vetting process.  The proponents also fail to state that not only will schools, stores and business not be built, but it will also impact some repairs or replacement on existing services and utilities! Lastly, if something manages to get approved by a vote  lawyers will hold up a decision they don’t like for years!  Please take a few moments to see what happened when the city of St. Pete Beach when it passed an almost identical amendment a couple of years ago.  AMENDMENT 4 will require any changes to a communities comprehensive land use plan be decided by a public vote. 

If AMENDMENT 4 is allowed to pass in Florida, the current dismal 11.7%  unemployment rate will be looked upon as the good old days. 

Don’t be swayed by the wolf  in sheep’s clothing. AMENDMENT 4′s passage will  have a profoundly negative affect on the state of Florida. Please take time to investigate this issue then tell all your friends and family.  Florida’s future is depending on you!  

VOTE NO ON AMENDMENT 4

HUD: Tax Credit Can Be Used on Closing Costs
FHA-approved lenders received the go-ahead to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit upfront, according to eagerly awaited guidance from the U.S. Department of Housing and Urban Development on so-called home buyer tax credit loans that was released today.

Under the guidance, FHA-approved lenders can develop bridge loans that home buyers can use to help cover their closing costs, buy down their interest rate, or put down more than the minimum 3.5 percent.

The loans can’t be used to cover the minimum 3.5 percent, senior HUD officials told reporters on a conference call Friday morning.

Thus, buyers applying for FHA-backed financing with an FHA-approved lender that offers a bridge-loan program can get a bridge loan to bring down the upfront costs of buying a home significantly but would still have to come up with the minimum 3.5 percent downpayment.

There remain many sources of assistance for buyers needing help with the 3.5 percent downpayment, including many state and local government instrumentalities and nonprofit lenders.

In addition, some state housing finance agencieshave developed their own tax credit bridge loan programs, so buyers in states whose HFAs offer such programs can monetize the tax credit upfront to cover all or part of their downpayment. These programs are separate from what HUD announced today.

The first-time homebuyer tax credit was enacted last year–and improved upon earlier this year–to help encourage households to enter the housing market while interest rates are low and affordability is high. The credit is worth up to $8,000 and is available to households that haven’t owned a home in at least three years. The credit does not have to be repaid, and is fully reimbursable, so households can get their credit returned to them in the form of a payment.

Learn more about the credit, including how to apply for it this year even if you’ve already filed your taxes, at REALTOR.org.

Source: Robert Freedman, REALTOR®Magazine Online

Jeff Daniels is a full time Licensed Realtor working in the Tampa bay area for over 18 years. For incredible real estate opportunities click:  www.TampaFloridaHomeFinder.com  or call Jeff Daniels at Keller Williams Realty at 813-661-2480  
for everything you need to make Florida Home. 

Here is the latest information about the department of Housing and Urban Development’s plan to build more “affordable housing” projects in 26 states. This is great news for the recipient states! As one reviews the states mentioned, it brings into question the apparent truth to statements made by unconfirmed expert sources that the massive $1,035,322,485 in “tax credits” were payback for votes. According to ABC news and Gallop Polls, it appears that they are correct. 

On a personal note, I find it disappointing that Florida isn’t among the states receiving the much needed boost to our housing industry. The Florida real estate industry is one of the hardest hit in the country. It would make sense that a state as large and important to our country would be counted among first to receive this taxpayer funded windfall. Perhaps, next time?    

For Release: Wednesday  July 1, 2009

SECRETARY DONOVAN AWARDS OVER $1 BILLION IN RECOVERY ACT FUNDS TO JUMP-START AFFORDABLE HOUSING CONSTRUCTION IN 26 STATES
Funding to stimulate the production of thousands of housing units stalled by recession while creating jobs across the country 

 WASHINGTON – U.S. Housing and Urban Development Secretary Shaun Donovan today announced that HUD is approving plans submitted by state housing finance agencies for $1,035,322,485 to jump start affordable housing programs in states throughout the country that are currently stalled due to the economic recession. Funded through American Recovery and Reinvestment Act of 2009(Recovery Act), HUD’s new Tax Credit Assistance Program (TCAP) will allow 26 state housing finance agencies to resume funding of affordable rental housing projects across the nation while stimulating employment in the hard-hit construction trades.

“The purpose of the American Recovery and Reinvestment Actis to jumpstart the nation’s ailing economy, with a primary focus on creating and saving jobs in the near term,” said Secretary Donovan. “The funding being announced today is an important step in achieving the goal of putting the American people back to work while providing quality, affordable housing options for low-income families at a time when those options are needed more than ever.”

The current economic and financial crises present significant challenges for the construction industry, particularly residential construction. One of the by-products of this crisis has been the freezing of investments in the low income housing tax credit (LIHTC) market. The tax credits create an incentive for investors to provide capital to developers to build multi-family rental housing for moderate- and low-income families across the nation. Since the contraction of the credit market, and as traditional investors remain on the sidelines, the value of tax credits has plummeted. Consequently, as many as 1,000 projects (containing nearly 150,000 units of housing) are on hold across the country.

In response, the Recovery Act provides $2.25 billion for TCAP, a grant program to provide capital investments in these stalled LIHTC developments. HUD is awarding these TCAP grants by formula to 52 state housing credit agencies (all 50 states plus the District of Columbia and the Commonwealth of Puerto Rico) to complete construction of qualified housing projects that will ultimately provide affordable housing to an estimated 35,000 households nationwide. Since a major purpose of this program is job creation, the Recovery Act establishes ambitious deadlines for expenditure of grant funds and requires state housing credit agencies to give priority to projects that can begin immediately and be completed by February 16, 2012.

Under this first round of TCAP funds, state housing finance agencies in the states below are receiving awards today:

Arizona
Arkansas
Connecticut
Hawaii
Idaho
Illinois
Iowa
Michigan
Minnesota
Mississippi
Nebraska
New Hampshire
New Jersey
New York
North Carolina
North Dakota
Ohio
Oregon
Puerto Rico
Rhode Island
South Carolina
South Dakota
Tennessee
Vermont
Washington
Wisconsin

HUD is the nation’s housing agency committed to sustaining homeownership; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development and enforces the nation’s fair housing laws. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov.

Jeff Daniels is a full time Licensed Realtor working in the Tampa bay area for over 18 years. For incredible real estate opportunities click:  www.TampaFloridaHomeFinder.com  or call Jeff Daniels at Keller Williams Realty at 813-661-2480  
for everything you need to make Florida Home. 

After many years, I have rediscovered an old love of mine.  I have a long history with her. My love affair began when I was nothing more than kid. Back then, she was hard charging , ornery thing who wasn’t afraid to get down and dirty. After getting beaten up one time too many I took to the streets. This one was smooth and scary fast! It was addicting to feel the sensation of flight without ever leaving the ground.  Finally I had to let her go before she killed me.  Like most in my 30′s I got involved with my work and family duties then I blinked and found myself hitting the big 50!  I finally realized that all work and no play made me a dull boy.   I have discovered that I can enjoy one of my favorite past times in a way that I never realized. I can now enjoy taking my time and enjoy the smells, the feel of wind in my face and the textures of road as I meander through the back roads of  the Tampa bay area I call home.

After every ride I take, I get home more relaxed with a better outlook and and the realization that I appreciate the world around me a little more. 

Now to finish my work so  can take a little ride…..

Jeff Daniels is a full time Licensed Realtor working in the Tampa bay area for over 18 years. For incredible real estate opportunities click:  www.TampaFloridaHomeFinder.com  or call Jeff Daniels at Keller Williams Realty at 813-661-2480  
for everything you need to make Florida Home. 

Every once in a while an opportunity becomes available in the midst of  terrible losses. The new $8,000.00 home buyer tax credit is one of them.

If I can be of any help to you in finding a home give me a call, I would love to help. 
Jeff Daniels  TampaFloridaHomeFinder.com

Here’s what you need to know about the program:

HUD: Tax Credit Can Be Used on Closing Costs
FHA-approved lenders received the go-ahead to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit upfront, according to eagerly awaited guidance from the U.S. Department of Housing and Urban Development on so-called home buyer tax credit loans that was released today.

Under the guidance, FHA-approved lenders can develop bridge loans that home buyers can use to help cover their closing costs, buy down their interest rate, or put down more than the minimum 3.5 percent.

The loans can’t be used to cover the minimum 3.5 percent, senior HUD officials told reporters on a conference call Friday morning.

Thus, buyers applying for FHA-backed financing with an FHA-approved lender that offers a bridge-loan program can get a bridge loan to bring down the upfront costs of buying a home significantly but would still have to come up with the minimum 3.5 percent downpayment.

There remain many sources of assistance for buyers needing help with the 3.5 percent downpayment, including many state and local government instrumentalities and nonprofit lenders.

In addition, some state housing finance agencies have developed their own tax credit bridge loan programs, so buyers in states whose HFAs offer such programs can monetize the tax credit upfront to cover all or part of their downpayment. These programs are separate from what HUD announced today.

The first-time homebuyer tax credit was enacted last year–and improved upon earlier this year–to help encourage households to enter the housing market while interest rates are low and affordability is high. The credit is worth up to $8,000 and is available to households that haven’t owned a home in at least three years. The credit does not have to be repaid, and is fully reimbursable, so households can get their credit returned to them in the form of a payment.

Learn more about the credit, including how to apply for it this year even if you’ve already filed your taxes, at REALTOR.org.

Source: Robert Freedman, REALTOR®Magazine Online

The Federal Housing Association is stating:

 FOR RELEASE Friday  May 29, 2009

DONOVAN ANNOUNCES RECOVERY ACT’S HOMEBUYER TAX CREDIT CAN IMMEDIATELY HELP THOUSANDS OF FIRST-TIME HOMEBUYERS TO BUY A HOME
FHA plan will stimulate new home sales and help stabilize housing market

WASHINGTON – Speaking to the National Association of Home Builders Spring Board of Directors Meeting, U.S. Housing and Urban Development Secretary Shaun Donovan today announced that the Federal Housing Administration (FHA) will allow homebuyers to apply the Obama Administration’s new $8,000 first-time homebuyer tax credit toward the purchase costs of a FHA-insured home. Donovan said that today’s action will help stabilize the nation’s housing market by stimulating home sales across the country.

The American Recovery and Reinvestment Act of 2009 offers homebuyers a tax credit of up to $8,000 for purchasing their first home. Families can only access this credit after filing their tax returns with the IRS. Today’s announcement details FHA’s rules allowing state Housing Finance Agencies and certain non-profits to ‘monetize” up to the full amount of the tax credit (depending on the amount of the mortgage) so that borrowers can immediately apply the funds toward their down payments. Home buyers using FHA-approved lenders can apply the tax credit to their down payment in excess of 3.5 percent of appraised value or their closing costs, which can help achieve a lower interest rate. To read the FHA’s new mortgagee letter, visit HUD’s website.

“We believe this is a real win for everyone,” said Donovan. “Today, the Obama Administration is taking another important step toward accelerating the recovery of the nation’s housing market. Families will now be able to apply their anticipated tax credit toward their home purchase right away. At the same time we are putting safeguards in place to ensure that consumers will be protected from unscrupulous lenders. What we’re doing today will not only help these families to purchase their first home but will present an enormous benefit for communities struggling to deal with an oversupply of housing.”

Currently, borrowers applying for an FHA-insured mortgage are required to make a minimum 3.5 percent downpayment on the purchase of their home. Current law does not permit approved lenders to monetize the tax credit to meet the required 3.5 percent minimum down payment, but, under the terms of today’s announcement, lenders can now monetize the tax credit for use as additional down payment, or for other closing costs, which can help achieve a lower interest rate. Buyers financing through state Housing Finance Agencies and certain non-profits will be able to use the tax credit for their downpayments via secondary financing provided by the HFA or non-profit. In addition to the borrower’s own cash investment, FHA allows parents, employers and other governmental entities to contribute towards the downpayment. Today’s action permits the first-time homebuyer’s anticipated tax credit under the Recovery Act to be applied toward the family’s home purchase right away. Unlike seller-funded down-payment assistance, which was a vehicle for abuse, this program will allow homebuyers to shop for the best home price and services using their anticipated tax credit.

According to estimates by the National Association of Home Builders, the Administration’s homebuyer tax credit will stimulate 160,000 home sales across the nation – 101,000 of which will be first-time buyers who will receive the credit. Another 59,000 existing homeowners will be able to buy another home because a first-time buyer purchased their home. Given FHA’s current market share, it’s estimated that thousands of families will be able to purchase a home by allowing the anticipated tax credit to be applied toward their purchase together with an FHA-insured mortgage.

Homebuyers should beware of mortgage scams and carefully compare benefits and costs when seeking out tax credit monetization services. Programs will vary from organization to organization and borrowers should consider whether the services make sense for them, as well as what company offers the most suitable and affordable option.

For every FHA borrower who is assisted through the tax credit program, FHA will collect the name and employer identification number of the organization providing the service as well as associated fees and charges. FHA will use this information to track the business closely and will refer any questionable practices to the appropriate regulatory agencies, as necessary.

HUD is the nation’s housing agency committed to sustaining homeownership; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development and enforces the nation’s fair housing laws. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov.

Jeff Daniels is a full time Licensed Realtor working in the Tampa bay area for over 18 years. For incredible real estate opportunities click:  www.TampaFloridaHomeFinder.com  or call Jeff Daniels at Keller Williams Realty at 813-661-2480  
for everything you need to make Florida Home. 

There is substantial data available that shows what is really going on  in a given marketplace. Here in the Tampa Florida market, many local investors have abandoned the free falling stock market in search of better investments in turn, they are purchasing real estate. This is  proven by the property sales in the lower price sectors. Sales are strong with property moving quickly, often within days of going on the market. As a Realtor, I my customers have many times placed offers above the property asking price only to be outbid by another purcher.  To further enforce this fact is that cash buyers represent nearly 30% of sales in an area where cash sales normally account for less than 5% of sales.   This is resulting in a disproportionate number of lower priced home sales. Simply comparing the quantity and prices from one year to the next tells you nothing of what the real property values are! 

The S&P report implys that these numbers as variables in value not prices. Example; using the latest quote “the 20-city Home Price Index fell 18.7% in March” over the last 12 months, slightly wider than the 18.4% decline economists expected and larger than the 18.6% drop in the year ended February. There is no attempt to really explain that it was sale prices and not VALUES that dropped. The mis-information is furthered  when it is rehashed through various media sources when the word “price” and “value” are used as if they are interchangeable. Yet, month after month, the numbers go unchallenged. The end result leads the reader to believe that house values change $10′s of thousands of dollars monthly, which is nowhere near the truth. These newly “CREATED” facts or mis-information are repeated as if it were truth until it is accepted as fact. To make matters worse, advertising companies dressed as information services such as zillow are making huge amounts of money from the practice. Often the data is skewed to draw wild conclusions of  property values.  Sadly, naive home buyers believe the claims without really knowing the accuracy of the information.  When is the media going to be held accountable for their actions when they purposefully mislead the public?

Local market values can only be accurately determined LOCALLY!  No distant website is going to ever know the variables that go into completing an accurate local comparative market analysis done by an experienced real estate professional.  

If you are interested in learning the true value of your home, don’t depend upon an advertising website to determine your property value. Contact an experienced, honest local real estate professional and ask for a comparative market analysis.  Most agents offer the service for free, just to be considered for selling your home.

Jeff Daniels is a full time Licensed Realtor working in the Tampa bay area for over 18 years. For incredible real estate opportunities click:  www.TampaFloridaHomeFinder.com  or call Jeff Daniels at Keller Williams Realty at 813-661-2480  for everything you need to make Florida Home. 

The National Association of Realtors has just published a synopsis on the “

H.R. 1, the “American Recovery and Reinvestment Act of 2009,” passed the United States House and United States Senate on February 13, 2009.  President Obama is expected to sign the bill TODAY.  The bill is a $780 billion package, with roughly 35% of the package devoted to tax cuts (mostly for 2009) and the rest to spending intended to occur in 2009 and 2010. 

The mix of provisions of interest to REALTORS® changed frequently throughout the legislative process, with changes continuing to be made just hours before the measure was released prior to the vote.  In the end, the elements of NAR’s housing agenda were included.  Congress and the President have announced that a finance and housing package (including tax provisions) will be the next “big” initiative, so Congress has by no means finished its work as it affects the housing industry and REALTORS®.  

The bill includes the following provisions:

Homebuyer Tax Credit – The bill provides for an $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009.  The credit does not require repayment.  Most of the mechanics of the credit will be the same as under the 2008 rules:  the credit will be claimed on a tax return to reduce the purchaser’s income tax liability.  If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

(This is different from the previous tax credit program increasing the amount from $7,500 to $8,000 and there is no pay back provision) 

Valrico Home For Sale

FHA, Fannie Mae and Freddie Mac Loan Limits -The bill reinstates last year’s 2008 loan limits for FHA, Freddie Mac, and Fannie Mae loans.  These limits were equal to the greater of 125% of the 2008 local area median home price or $271,050 for FHA and $417,000 for Fannie and Freddie, with an overall maximum cap of $729,750.  For the few areas where the 2009 limits were higher, the higher limits will apply.  In addition, the bill includes language providing the HUD Secretary with the discretion, if warranted, to increase the loan limit for any “sub-area”, i.e. an area smaller than a county. The Secretary’s discretion is again limited by the $729,750 cap. These 2009 limits will expire December 31, 2009. The inclusion of these loan limit provisions in the final bill is a victory for homeowners, buyers and REALTORS®. 

(FHA loans are no longer just a first time home buyer assistance program. Due to the volatility of the financial markets it is quickly the loan of choice for many homebuyers.) 

Tampa Home For Sale

Rural Housing Service– The bill provides an additional $500 million to existing USDA Rural Housing programs.  The RHS provides both a guaranteed loan program and a direct housing loan program for those meeting the program’s eligibility criteria. The direct loan program will receive $270 million while $230 million will be allocated for unsubsidized guaranteed loans. It has been reported that this level of funding would provide for an additional 192,000 homeowners. 

(USDA funding is available for limited suburban and rural areas. Contact your favorite Realtor of participating lender for availability)

Neighborhood Stabilization– Division A, Title XII of the bill provides $2,000,000,000 in additional funding for the Neighborhood Stabilization Program (NSP).  The NSP was created by the Housing and Economic Recovery Act of 2089 (Public Law 110–289) to provide grants through the Community Development Block Grant program (CDBG) to states and localities to address the problems that can be created when whole neighborhoods are decimated by foreclosures. The funds can be used to purchase, manage, repair and resell foreclosed and abandoned properties. In addition, the funds can also be used by states and localities to establish financing methods for the purchase and redevelopment of foreclosed properties.  After purchase the homes must be used to assist individuals and families with incomes at or below 120% of area median income. Twenty-five percent of funds must be used for households with incomes at or below 50% of area median income.  By leveraging their expertise in partnership with others from both the public and private sector, REALTORS® in many communities have been making important contributions to their local communities’ neighborhood stabilization programs.

(Local governmental agencies are in many cases controling the disribution of these funds at this time)

 

Brando Office For Sale

 

 Commercial Real Estate – Commercial real estate is impacted primarily through those provisions of the bill focused on green building and energy efficiency as well as business tax incentives. H.R. 1 provides significant funds for state energy programs, which could be used to support commercial property owners’ investment in energy efficiency upgrades while commercial property owners seeking to invest in alternative energy systems for onsite power generation would benefit from the Department of Energy Renewable Energy Loan Guarantees Program.  Of particular benefit to small businesses would be certain provisions of the bill that provide tax relief in the area of bonus depreciation and capital expenditures, as well as the 5-Year carryback of net operating losses for small businesses.

  

Jeff Daniels is a full time Licensed Realtor working in the Tampa bay area for over 18 years. To see the many incredible real estate opportunities click:  www.TampaFloridaHomeFinder.com  or call Jeff Daniels at Keller Williams Realty at 813-684-9500 ext 237 for everything you need to make Florida Home.