"Lovingly cared for fully furnished 5bed/3bath short term rental/investment pool home on desired oversized corner lot. Tile & carpet throughout, jacuzzi in master bath, lush landscaping. A must see for all!!
Sunday, May 31, 2009
Monday, May 18, 2009
BEWARE OF AUCTIONS FOR REAL ESTATE
The following was taken from a Newspaper in FLORID. Those thinking of going to the Auctions to buy should read and take note of this.
Mass auctions of foreclosed homes not as successful as billed
By James Thorner, Times Staff Writer In Print: Friday, May 15, 2009
Auctions of homes in hotel ballrooms appear in ads to be deal-a-minute extravaganzas, until you take a little closer look.
It sounds like a great way to work off our housing glut: Banks hire a nationally renowned auctioneer to dispose of hundreds of foreclosed homes at once from hotel ballrooms in Tampa.
And if you listen to the auctioneers, their sales success is stellar. Back in February, a company called Real Estate Disposition Corp. announced it had snagged bids for 131 of 176 homes on the block at the Grand Hyatt in Tampa.
I thought I'd check up on REDC this week to see how many of those foreclosure homes actually closed. After studying the results, I feel duped. And you should, too.
Leave aside the fact that REDC admitted later that only 75 homes actually sold on Feb. 7. When I plowed through the first part of the "sold" list and compared addresses against property appraiser records, I didn't find a single home that closed as of Thursday. Not one.
REDC's spokesman maintained this week that the company's auction success rate nationally is 80 percent. Suppress your laughter if you must.
I sat in on an auction in Tampa last year and was amazed how cheaply many properties sold. You hear about banks routinely ditching foreclosure homes for 60 cents on the dollar, but many of these were scarfed up for 30 cents. Turns out many never did sell. The banks either turned down the bid or the buyers had deceptively shallow pockets.
For enlightenment, I turned to Michael Peters, who runs American Heritage Real Estate Auctioneers in Clearwater. Self-interested though he is, Peters is critical of these assembly-line auctions.
According to Peters, there's no substitute for selling properties one at a time by enticing bidders to the actual home. But guess what: When buyers get to stroke the granite and flush the toilets, homes tend to sell better.
Like so much in real estate that's too good to be true, it appears mass auctions of foreclosure homes produce more weeds than deeds.[Last modified: May 15, 2009 10:00 AM]
Mass auctions of foreclosed homes not as successful as billed
By James Thorner, Times Staff Writer In Print: Friday, May 15, 2009
Auctions of homes in hotel ballrooms appear in ads to be deal-a-minute extravaganzas, until you take a little closer look.
It sounds like a great way to work off our housing glut: Banks hire a nationally renowned auctioneer to dispose of hundreds of foreclosed homes at once from hotel ballrooms in Tampa.
And if you listen to the auctioneers, their sales success is stellar. Back in February, a company called Real Estate Disposition Corp. announced it had snagged bids for 131 of 176 homes on the block at the Grand Hyatt in Tampa.
I thought I'd check up on REDC this week to see how many of those foreclosure homes actually closed. After studying the results, I feel duped. And you should, too.
Leave aside the fact that REDC admitted later that only 75 homes actually sold on Feb. 7. When I plowed through the first part of the "sold" list and compared addresses against property appraiser records, I didn't find a single home that closed as of Thursday. Not one.
REDC's spokesman maintained this week that the company's auction success rate nationally is 80 percent. Suppress your laughter if you must.
I sat in on an auction in Tampa last year and was amazed how cheaply many properties sold. You hear about banks routinely ditching foreclosure homes for 60 cents on the dollar, but many of these were scarfed up for 30 cents. Turns out many never did sell. The banks either turned down the bid or the buyers had deceptively shallow pockets.
For enlightenment, I turned to Michael Peters, who runs American Heritage Real Estate Auctioneers in Clearwater. Self-interested though he is, Peters is critical of these assembly-line auctions.
According to Peters, there's no substitute for selling properties one at a time by enticing bidders to the actual home. But guess what: When buyers get to stroke the granite and flush the toilets, homes tend to sell better.
Like so much in real estate that's too good to be true, it appears mass auctions of foreclosure homes produce more weeds than deeds.[Last modified: May 15, 2009 10:00 AM]
Monday, May 11, 2009
$8000 TAX CREDIT TO HELP 1ST TIME BUYERS
Bringing the Dream of Homeownership Within Reach
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers.
Here is more information about how the 2009 First-Time Home Buyer Tax Credit can help prospective home buyers become part of the American dream.
Who Qualifies?
First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009.
To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.
Which Properties Are Eligible?
The 2009 First-Time Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.
How Much Will the Credit Be?
The maximum allowable credit for home buyers is $8,000. Each home buyer’s tax credit is determined by two factors:
The price of the home—the credit is equal to 10% of the purchase price of the home, up to $8,000.
The buyer's income—single buyers with incomes up to $75,000 and married couples with incomes up to $150,000—may receive the maximum tax credit.
If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit.The credit decreases for buyers who earn between $75,000 and $95,000 for single buyers and between $150,000 and $170,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $95,000 for singles and over $170,000 for couples are not eligible for the credit.
Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during the three-year period, the credit will be recouped on the sale.
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers.
Here is more information about how the 2009 First-Time Home Buyer Tax Credit can help prospective home buyers become part of the American dream.
Who Qualifies?
First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009.
To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.
Which Properties Are Eligible?
The 2009 First-Time Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.
How Much Will the Credit Be?
The maximum allowable credit for home buyers is $8,000. Each home buyer’s tax credit is determined by two factors:
The price of the home—the credit is equal to 10% of the purchase price of the home, up to $8,000.
The buyer's income—single buyers with incomes up to $75,000 and married couples with incomes up to $150,000—may receive the maximum tax credit.
If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit.The credit decreases for buyers who earn between $75,000 and $95,000 for single buyers and between $150,000 and $170,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $95,000 for singles and over $170,000 for couples are not eligible for the credit.
Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during the three-year period, the credit will be recouped on the sale.
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