Your Hometown Consultant

How I Make A Difference

2009-10-28T10:22:00.006-05:00

Gotta toot my own horn sometimes.... I'm featured in an article on Realtor.com for my green business practices! A few months ago, Sandy Keith and I were interview by a liaison of the National Association of Realtors and the US Deparment of Energy. Super cool, right? Below is the excerpt about me and here's a link to the entire article: http://www.realtor.org/rmosales_and_marketing/articles/2009/0911_sales_greenpractitioners. Special thanks to Julie Hawkins. What a pleasure to work with you.

It's the Little Things

Christina Pitchford of Allen Real Estate Services in Sarasota, Fla., has always made resource conservation part of her business. Pitchford has a Green certification from Green Real Estate Education and makes use of technology to be more green. She does a majority of her transactions over e-mail with PDF files rather than multiple faxes. She prefers linking to disclosures and other documents rather than printing them on paper. Pitchford also cuts down on driving by working with clients over the Internet to screen out listings that don't make the cut.

"My key to success is staying true to myself," says Pitchford. "The environment has always been a concern to me, so I started articulating green features to my clients. I always ask them what green features they're interested in."

It pays off. Pitchford gets most of her referrals from green-minded clients.

"What I hear most from referrals with environmental values is that they can trust me and that I understand what they are looking for," she says. "I won't hesitate to walk into million-dollar homes that are lit up like Christmas trees and turn off all the lights. I do it so my clients can then see how well the home is lit by the sun during the day. Little things like that can make a big difference on an energy bill, especially in a large home."

Pitchford works to educate her fellow practitioners as well. She and Sandra Keith of Lighthouse Realty, also in Sarasota, are founding members of the Green REALTORS® Alliance of Sarasota, which has held two annual Green Home Expos. The expos introduced green vendors to the public and to real estate professionals. Through these events, GRAS has convinced Sarasota County's Green Business Partners to become affiliate members of the Sarasota Board of REALTORS® and to educate and network extensively within the community.

Signs of a Firm Bottom?

2009-06-11T06:39:00.003-05:00

Everyone wants to know when we'll hit the bottom and everyone has opinions. I've made my point about speculation before and won't go there again. Personally, I'm a fan of facts over emotions and I've been waiting for enough facts to pile up. Here are a few:

Realtors are super busy these days although "season" typically ends with Easter. I have 3 closings this month (first-time homebuyer, investor and relocation)! Last month was good, next month looks even better so far.... Last weekend was, in fact, the first weekend I DIDN'T show property since February.
Last months sales statistics from the Sarasota Association of Realtors showed an increase in closed deals and even an increase in the median sales price. Pending transactions have been up so many months now I can't remember when they started rising. For more details, charts and exact figures, click here: http://www.sarasotarealtors.com/about/hottopic.cfm?eveID=110.
The number of properties for sale on our MLX has decreased all year. Good job to the Realtors! Congrats to the new homeowners and investors have bought some great deals.
More and more folks are receiving actual help to refinance and stay in their homes now with the help of that the government's Making Home Affordable program. Click here for the official website: http://makinghomeaffordable.gov/. Don't get me wrong: more folks need help and the help needs to be less frustrating and cumbersome. Contact me if you'd like to see if you qualify as I can refer you to some amazing mortgage brokers and negotiators.
And then... foreclosure filings have dropped for the Sarasota/Manatee area! Read the Sarasota Herald Tribune article here: http://www.heraldtribune.com/article/20090611/ARTICLE/906111057/2055/NEWS?Title=Regional-foreclosures-buck-a-state-trend-. Filings were still up for the rest of the state.
You can buy for less than what it costs to rent!

In summary, who knows? The commercial market is still all out-of-whack and that will have a big impact on the residential market. However, I think it's only fair to proclaim once again that Sarasota rocks!

Great First-Time Homebuyer News!

2009-05-28T05:54:00.002-05:00

Governor signs $8K homebuyer credit into law

TALLAHASSEE, Fla. – May 27, 2009 – Gov. Charlie Crist signed the budget bill (SB 2600) today that lays out how the state will spend its $65.6 billion in the fiscal year that starts July 1. Included is $30.1 million for the Florida Homebuyer Opportunity Program, which will help with downpayment assistance.

Beginning July 1, those who quality for the federal $8,000 first-time homebuyers tax credit will be able to apply for downpayment assistance before they close on the purchase of their home, and then repay the amount borrowed when they get their tax refund. The program will operate through local county housing administrators, though details are still being worked out.

The state spending plan passed today also includes the following for real estate-related programs:

• Up to $400,000 to prevent, combat and publicize the dangers of unlicensed real estate activity in Florida.
• $540,000 to continue and complete a study to make recommendations on passive strategies on nitrogen reduction that complement the use of onsite wastewater treatment systems.
• $3 million in the Real Estate Trust Fund for the Education and Research Foundation.
• A reduction in the eviction filing fees from $265 to $180 – the only fee reduction in the 2009-10 budget, and one with a negative fiscal impact of up to $36 million.

© FLORIDA ASSOCIATION OF REALTORS

Please Make The Industry Joke No Longer A Reality

2009-05-11T13:27:00.004-05:00

Leave it to the National Association of Realtors to initiate a much needed change to the short sale process!

As anybody who has dealt with one knows, short sales should be renamed "long sales." But that could be changing. The chair of NAR's Conventional Finance and Lending Committee already has met with 10 mortgage bankers and servicers in Florida to address the problem.

Read the full story: http://www.floridarealtors.org/NewsAndEvents/n2-051109.cfm

BREAKING NEWS: Advanced Credit For First-Time Homebuyer Tax Credit!!!

2009-05-09T06:34:00.002-05:00

The Florida Association of Realtors rocks! Thanks for looking out for my clients' best interest!!!

2009 FLORIDA LEGISLATURE ADJOURNS

TALLAHASSEE, Fla. - May 8, 2009 - Having approved a $66.5 billion state budget, the 2009 Florida Legislature adjourned minutes ago. For the Florida real estate industry, the budget includes several gems. Perhaps the shiniest: $30.1 million for downpayment assistance programs.

Beginning July 1, those who qualify for the federal first-time homebuyers tax credit will be able to apply for downpayment assistance in advance of closing, and then repay the amount borrowed when they get their tax refund.

"What an incredible opportunity for thousands of families," says Cynthia Shelton, 2009 FAR president. "The beauty of this program is that the state will be paid back and, conceivably, more potential homebuyers could take advantage prior to the Dec. 1 expiration of the $8,000 federal first time homebuyer tax credit."

The program will operate through local county housing administrators, though details are still being worked out. Keep reading FAR's EarlyBird e-news and checking the home page of floridarealtors.org for updates.

The state spending plan passed today also includes the following for real estate-related programs:

• Up to $400,000 to prevent, combat and publicize the dangers of unlicensed real estate activity in Florida.
• $540,000 to continue and complete a study to make recommendations on passive strategies on nitrogen reduction that complement the use of onsite wastewater treatment systems.
• $3 million in the Real Estate Trust Fund for the Education and Research Foundation.
• A reduction in the eviction filing fees from $265 to $180 - the only fee reduction in the 2009-10 budget and one with a negative fiscal impact of up to $36 million. Even though the session was extended to today for the purpose of budget negotiations, all non-budget legislation was finalized last Friday. Here are the highlights reported previously:
• SJR 532, a constitutional amendment that will ask voters to limit increases in property tax assessments on all non-homestead properties to 5 percent annually. First-time homebuyers could benefit, too, with an additional homestead exemption up to $100,000.
• HB 521, a bill that puts the burden of proving that a property tax assessment is correct on the appraiser, not the property owner.
• In the area of property insurance, the Legislature capped rate increases at 10 percent per year for Citizens policyholders (HB 1495). The Legislature also repealed the requirement that, effective Jan. 1, 2010, sellers of property located in a wind-borne debris region, and which has an insured value on the structure of $500,000 or more, provide prospective buyers the structure's windstorm mitigation rating.
• The growth management bill (SB 360) FAR supported passed as a big package. It includes a provision to encourage urban infill by eliminating transportation concurrency, one that allows for expedited comprehensive plan reviews, and another that eliminates the development of regional impact process (DRIs) in urban areas. The bill also extends previously obtained permits and approvals by two years, creates a transition process for moving towards a mobility fee system, and streamlines and reduces inefficiency in the state's approach to growth management.

For additional updates, please visit FAR's legislative Web site: http://www.floridarealtorslegislative.org
© 2009 FLORIDA ASSOCIATION OF REALTORS

Florida Leads The Way To Recovery?

2009-04-22T07:43:00.002-05:00

Florida deserves a round of applause and Sarasota too since we've been leading all other counties in the state with home sales:

Housing Predictor - which monitors over 250 residential property markets nationwide - says Florida appears to be emerging from the realty slump before any other state, including California.

The Sunshine State is seeing population growth, and single-family home and condominium sales have been on the rise for more than six months. Foreclosures and short sales presently account for approximately 67 percent of all sales and often are not included in real estate agents' tallies. Additionally, banks in many Florida housing markets are cranking out more home loans, and sellers finance almost 20 percent of all sales.

Source: First EmailWire.com (04/21/09)

Mortgage Fraud Alert!

2009-04-16T15:33:00.003-05:00

Florida unveils Web site to fight mortgage fraud-related scams

TALLAHASSEE, Fla. – April 16, 2009 – Florida Attorney General Bill McCollum unveiled a new Web site to help homeowners avoid mortgage fraud scams. The Web site – http://myfloridalegal.com/mortgagefraud – gives consumers easy access to current investigations, complaint forms, and tips to identify and avoid foreclosure rescue fraud. Fraud involving loan modifications related to foreclosures is the complaint topic most commonly reported to the Attorney General’s Office. The complaints many times relate to an up-front fee.

“Companies and individuals are taking advantage of our homeowners in these tough economic times by preying on their financial situations,” says McCollum. “If we can increase consumer education and empower people to spot scams and avoid them in advance, we can help decrease the number of victims targeted by this fraud.”

Consumers can obtain information about active litigation and download affidavit forms to fill out if they have been victimized by one of the listed companies. Consumers can also access a list of active investigations to see if a company is questionable. The Web site also features frequently asked questions, consumer tips and a list of warning signs if a company is engaging in foreclosure rescue fraud.

The Web site includes links to the new Florida Bar Web site with information for attorneys and consumers, housing help workshops and clinics in Florida, and information about the Florida Bar Lawyer Referral Service and qualified legal aid agencies.

© 2009 FLORIDA ASSOCIATION OF REALTORS®

Bonus On A Bonus?

2009-03-31T19:09:00.003-05:00

Just read the following and am excited to read more updates:

If a FAR-backed coalition that includes the Florida Home Builders Association, Florida Bankers Association and the Florida Credit Union League succeeds, state lawmakers will find a way to advance a new $8,000 federal tax credit to first-time homebuyers so they can use it to make downpayments.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n1-033109.cfm

How Does This Make You Feel?

2009-03-25T16:47:00.000-05:00

Environmental psychologist Toby Israel, author of a new book, "Some Place Like Home: Using Design Psychology to Create Ideal Place," says people's childhood homes have a profound effect on what kinds of homes they like best.

Before anyone buys, builds, rents or remodels, Israel believes they should consider what kind of living space satisfies them. One exercise she recommends for homebuyers is to draw a timeline of all the places they've lived for six months or more, circle those they liked best, then describe why.

She calls the result a "design psychology blueprint" that can help a real estate professional quickly identify what a client really wants.

Source: Star-Tribune, Jim Buchta (03/14/2009)© Copyright 2009 INFORMATION, INC. Bethesda, MD (301) 215-4688

6 Tips for Home Owners Who Turn Into Landlords

2009-03-07T10:33:00.002-05:00

If you're thinking about it out of necessity or because you're thinking of buying a cheap investment which will pay its own bills for long-term gain, read the article below. For a copy of the landlord-tenant rules, look for the link on the right-hand side of my website. For automatic emails for foreclosures under $75,000 to consider purchasing, email or call me and I'll hook you up with some amazing deals.

Home owners who decide to rent out their properties have to stop thinking of themselves as home owners and instead consider themselves as running a small business, experts say. Thinking like a businessperson means focusing on the monthly cost of maintenance, mortgage and taxes, as well as being aware of landlord-tenant regulations and avoiding liabilities.

Here are key issues to consider:

Set a fair rent. Setting the right price will make it more likely that a landlord will be able to keep the place rented.
Understand landlord-tenant rules. Running afoul of landlord-tenant regulations and rules regarding security deposits can be costly.
Screen applicants. Eliminating potential tenants who can’t pay or who won’t take care of the property is very important.
Lay out the rules in a lease. Widely available sample leases can help. If you have questions, ask an attorney.
Consider a property manager. Despite the expense, turning the job over to experts can help a landlord come out ahead.
Talk to the condo association. If the property is a condominium, be prepared to deal with a host of regulations.

Source: The Washington Post, Renae Merle (02/28/2009)

Freddie Mac To Offer Month-To-Month Leases?

2009-03-06T14:37:00.001-05:00

Freddie Mac announced it has extended its moratorium on foreclosure-related evictions to April 1. At the same time, Freddie Mac launched a program yesterday, announced in January, that allows owners facing eviction to remain in their homes as renters. The company says it started contacting at-risk homeowners yesterday about the rental program to offer them a month-to-month lease. Rent will be based on prevailing local market rates, and homes must meet local property codes. It's unclear how many homeowners would qualify, however. Freddie Mac has 8,500 properties facing foreclosure but many are already vacant. Freddie Mac's HomeSteps ( http://www.homesteps.com) real estate unit will handle the details, and foreclosed owners who opt to stay and rent must allow potential buyers to view the property.

Source: Florida Association of Realtors

Can Obama Help You?

2009-03-06T06:26:00.002-05:00

The Obama housing plan kicked off yesterday, but officials say borrowers must be patient: lenders will probably be flooded with phone calls. Critics say not all homeowners in need will be helped, and some observers worry that banks still won't willingly work with at-risk homeowners.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n1-030509.cfm

More On The Retirement Visa...

2009-03-04T22:59:00.000-05:00

Saying it would help boost the economy in Florida and other states, supporters are once again lobbying the federal government to establish a retirement visa that would allow foreigners to stay longer than six months at a time. FAR offered support for such a proposal back in 2006.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n3-030409.cfm

Mortgage Interest Deduction

2009-02-28T07:51:00.001-05:00

NAR, which generally supports the Obama administration's housing and stimulus plans, announced opposition to one budget proposal that would water down the mortgage interest tax deduction (MID) for thousands of higher-income families.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n1-022709.cfm

FHA Loan Max Back to 2008 Price For Sarasota!

2009-02-26T13:00:00.001-05:00

HUD announced changes to FHA's single-family loan limits yesterday, the result of initiatives within the American Recovery and Reinvestment Act of 2009. For 2009, the maximum mortgage limit for an area is either the 2008 limit or 2009 limit - whichever is higher. The new loan limits, effective for any loan closed in calendar year 2009, remain in effect through Dec. 31, 2009. Note, however: Because an area's new loan limit is the highest value out of two years, HUD no longer has a process for appealing the limit. To view HUD's complete mortgagee letter online, go to: http://www.hud.gov/offices/adm/hudclips/letters/mortgagee.

To find the FHA limit for your area, go to: https://entp.hud.gov/idapp/html/hicostlook.cfm or email/call me for help.

© 2009 FLORIDA ASSOCIATION OF REALTORS®

January Sales Stats

2009-02-26T09:38:00.002-05:00

*The following press release was sent to local media on Feb. 25 at 11:00 a.m.

January 2009 pending sales jump almost 18 percent

In the face of national economic doom and gloom, pending sales in the Sarasota real estate market rose to 683 in January 2009 as reported by members of the Sarasota Association of Realtors®, topping the 500 level for the 13th month in a row. Pending sales last month were much higher than the 516 reported in January 2008, which indicates that local real estate has bucked the national downward to some extent.

Pending sales reflect contracts executed by buyers and sellers. The recent numbers demonstrate a steady, strong pattern, indicating buyers have become more active in the Sarasota market as the traditional season heats up.

"These are certainly historic times for our nation's economy, and we must be realistic and understand that higher unemployment and the recession impacts everyone," said 2009 SAR President Bill Geller. "But we must also understand that even during downturns, opportunities exist for savvy buyers. The Sarasota market is blessed with tremendous, high quality properties, and the lower prices have made this area a goldmine of opportunity. With the guidance of a well-trained, professional local Realtor®, buyers can be assured that they will find the perfect property in today's market environment."

Overall closed sales in the first month of 2009 stood at 319, compared to 327 in January 2008, a year-to-year decline of only 2.4 percent. Sales totaled 406 December 2008, but the monthly decline was expected, especially during a four-year election cycle, when real estate activity often sees a lull prior to a new administration taking office.

The recent signing of the $787 billion American Recovery and Reinvestment Act, plus the Obama administration's enactment of the $75 billion Housing Support and Foreclosure Prevention program should help improve the real estate markets even more in the months ahead, said Geller.

"We are clearly seeing a focus by this administration on the root of the economic problems - the real estate downturn," said Geller. "There have been several initiatives adopted which include suggestions by the National Association of Realtors®, and we are hopeful these programs will help us back on the road to recovery."

For instance, first-time homebuyers who meet eligibility requirements and purchase a home this year prior to Dec. 1 are eligible for a tax credit of $8,000. Unlike the 2008 tax credit, this one does not have to be repaid. Combined with historically low interest rates, experts expect this program to generate an increase in sales.

"And the ripple effects of expenditures for household items, moving costs, furnishings and so on should provide a needed shot in the arm for our local economy," said Geller.

The median sale price for single family homes declined to $149,950 in January 2009 after coming in at $175,000 in December 2008, for a 14 percent decline. Condominium prices fell to $220,000 in January 2009 from the December 2008 figure of $255,000, also 14 percent decline. While statistics have not been tabulated breaking down the number of short sales and foreclosures, many local agents and brokers have indicated these sales have dominated their recent business, which tends to impact the median sales prices substantially.

Another important market tracker - the absorption rate of properties on the market - continues to track lower than last year at this time for both single family homes and condominiums. Absorption rate is the number of months it would take to sell the entire remaining listed inventory in a particular category, based upon the sales for that particular month.

For January 2009, the absorption rate for single family homes stood at 25.3 months, compared to 39.0 months in January 2008. For condominiums, the absorption rate was at 38.4 months in January 2009, substantially lower than the 52.0 months reported in January 2008.

Follow this link for a two page stats chart:
http://rs6.net/tn.jsp?et=1102476640349&e=001nCg2Z8ryvYWDzD_YmAYDMflbXHhMmH2kFiAwCVunqeve-U7ht-hiAsyc1Z9ArCn03i6_3ImHM9p5_OENrdyC_QdU8OETq0QbAScbn_X27BM932CqLoq-O3kRAulE2UD_zEhWcPgzw0yzrezlJGzqf-CRruTgRIJt

Worth The Bankruptcy Risk?

2009-02-25T19:45:00.000-05:00

More than one million distressed homeowners would benefit from filing for bankruptcy under proposed legislation allowing bankruptcy judges to modify mortgages on primary residences, according to the Congressional Budget Office. Of that million, the office estimates about 350,000 homeowners would take advantage of the proposed change over the next 10 years.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n4-022509.cfm

More Bonus For First-Time Homebuyers!?!

2009-02-23T18:43:00.000-05:00

Gov. Charlie Crist on Friday proposed property tax breaks up to $5,000 for first-time homebuyers, and further easing of the tax burden on businesses, landlords and snowbirds. In a video available online, Crist also noted the need for stimulating home sales and the role Florida Realtors play in the recovery process.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n1-022309.cfm.

Florida Votes Against New Septic Tank Rules

2009-02-21T07:49:00.001-05:00

A septic tank rule opposed by FAR was voted down yesterday by a state advisory panel. The proposed rule covers the Wekiva River area of Central Florida, but it's also a possible blueprint for new septic system rules throughout the state. If enacted as written, one area of concern to Realtors is timing: It would mandate a septic system inspection as part of every home sale; and since most septic systems would fail the seepage test, they'd have to be replaced. While the advisory panel's decision carries some weight and is applauded by FAR, the vote is not binding. The Florida Department of Health will make a final decision later.

© 2009 FLORIDA ASSOCIATION OF REALTORS®

Rent V. Buy Part 2

2009-02-19T11:56:00.000-05:00

Just six months ago, with Florida home prices in a steady fall, the decision to buy or rent was clear for many prospective homebuyers - keep on renting. Today, however, homeownership is a cheaper option for some potential buyers, including many in South Florida.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n3-021809.cfm

Discounted Insulation Upgrade From FPL?

2009-02-17T23:19:00.004-05:00

See if you qualify for a free FPL Home Energy Survey and if FPL thinks you need more insultion, you'll get a discount of 11 cents per square foot!

Check it out: http://www.fpl.com/residential/savings/energy_advisor/building_envelope/guide_insulating.shtml?WT.ac=HMRB03?WT.mc_id=NSL2172009EM01&wt.mc_ev=EmailClick&acctnum=1618029266.

If your home was built before 1982, chances are you need to upgrade your ceiling insulation. FPL has an incentive program to help you pay for it. Check out our insulation guide for more information.

Latest Stimulus Package Update As It Pertains To Real Estate

2009-02-17T11:12:00.002-05:00

American Recovery and Reinvestment Act of 2009

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.

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®.

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.

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.

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.

Low Income Housing Grants - Allow states to trade in a portion of their 2009 low-income housing tax credits for Treasury grants to finance the construction or acquisition and rehabilitation of low-income housing, including those with or without tax credit allocations.

Tax-Exempt Housing Bonds - Tax-exempt interest earned on specified state and local bonds issued during 2009 and 2010 will not be subject to the Alternative Minimum Tax (AMT). In addition, financial institutions will have greater capacity to purchase tax-exempt state and local bonds.

Energy Efficient Housing Tax Credits & Grants - The bill provides state and local governments with $6 billion in energy efficiency and conservation grants for energy audits, retrofits and financial incentives. Through 2010, homeowners will be able to claim a 30% tax credit (up from 10%) for purchases of new furnaces, windows and insulation. Another $5 billion will be available to modernize the nation’s electricity grid and install smart meters on homes that help to save consumers money. There is also $5 billion for weatherization assistance for low income households and $2 billion for federally assisted housing (section 8) efficiency efforts.

Transportation Investments - The bill provides $46.7 billion to states and localities for capital investment for surface transportation projects including highways, bridges, transit, and rail projects. NAR policy supports increased spending on the types of transportation infrastructure addressed in the bill with the exception of Amtrak and high-speed inter-city rail where NAR has no policy. These investments will tend to moderate traffic congestion and support a variety of transportation alternatives which will improve the quality of life of American communities and bolster the value of real estate.

Source: John M. Sebree, Vice President of Public Policy at the Florida Association of REALTORS®

Possible Septic Sorrows

2009-02-16T19:32:00.001-05:00

A move by the Florida Department of Health to limit nitrogen seepage through septic systems could force some homeowners to install new and expensive septic systems. However, questions remain, and one component worries Realtors: It calls for a septic inspection at the time of a home sale and a likely septic tank replacement. The Department will hold a meeting on Feb. 19 in Orlando, and the public may attend and comment.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n2-021609.cfm.

Loan Modification Advice

2009-02-12T19:10:00.001-05:00

How should a homeowner renegotiate a loan? Be honest, realistic, and patient, says a spokesperson for Federal Loan Modification Law Center who created 10 steps consumers should follow.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n4-021209.cfm

The Why Behind Property Tax Decreases

2009-02-11T20:29:00.000-05:00

A pair of tax-relief measures passed in the last two years have helped reduce Floridians' property taxes - down 2.1 percent in 2007 and 3.8 percent in 2008 - after three decades of steady increases, according to reports presented to the Senate Finance and Tax Committee Tuesday.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n1-021109.cfm

Money For Homes

2009-02-06T17:45:00.001-05:00

The Department of Community Affairs (DCA) received approval from HUD this week to release more than $91 million to Florida cities and counties across the state to help alleviate the housing foreclosure crisis. The money is in addition to $450 million HUD directly awarded to 48 Florida cities and counties in September.

According to Gov. Charlie Crist, the state money is earmarked for two pots: The largest amount of money will go to toward the purchase and renovation of foreclosed homes that will then be sold or rented. The second, smaller amount is earmarked for rentals for low-income families.

For an Excel spreadsheet outlining the Florida cities and counties that received the first round of HUD money, along with an explanation of the program, go to: http://www.hud.gov/offices/cpd/communitydevelopment/programs/neighborhoodspg.

For additional information on Florida's Neighborhood Stabilization Program, visit the Florida Division of Housing and Community Development at: www.floridacommunitydevelopment.org.

Source: Florida Association of Realtors

8 Minutes Ago: Senate Approves $15k Tax Credit For Homebuyers!

2009-02-04T20:30:00.002-05:00

All homebuyers, not just first-timers, can now receive a 10% credit up to $15k on their taxes when they buy a home!

Check out the AP's take on the news: http://news.yahoo.com/s/ap/congress_stimulus.

Federal Bailout Update

2009-02-04T06:49:00.001-05:00

Homebuyers could see lower mortgage rates and get tax credits as part of a sweeping economic stimulus package being considered on Capitol Hill as lawmakers listen to pleas from Realtors and home builders. A leading Democrat says his party would support a GOP-backed idea to double the first-time homebuyers' tax credit - from $7,500 to $15,000 - and make it available to all homebuyers.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n1-020309.cfm

Rent Your Foreclosed Home?

2009-01-31T12:04:00.000-05:00

Families who lose their home in a foreclosure could continue to live in the home as renters, at least temporarily, under a plan Freddie Mac plans to announce today. Freddie will offer the same deal to renters in investment properties, which is similar to a program Fannie Mae recently introduced.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n2-013009.cfm.

No More State Farm For Florida

2009-01-27T15:27:00.003-05:00

State Farm announced today that it's pulling out of the property insurance market throughout Florida. Regulators have 90 days to approve the move, and State Farm cannot drop policies for at least 180 days after that, so current customers face no immediate threat. Florida Insurance Commissioner Kevin McCarty calls the move disappointing but not a surprise.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n1-012709.cfm.

Contact me if you need to find another company. I have some highly recommended referrals from past clients.

Non-Vacant Vacant Homes

2009-01-24T12:43:00.000-05:00

Some real estate pros encourage sellers of vacant properties to move house sitters in to ensure security and keep the home ready for showings. In Spokane, Wash., Diana and Kevin Uphus of Select Real Estate launched Diana's Home Sitting Services in 2000 to locate house sitters for clients. House sitters pay $400 per month to live in the home, and they also cover the utility bills.

When choosing a house sitter, the Uphuses perform background checks on candidates - whom must be able to leave at a moment's notice for showings, carry $100,000 in personal liability coverage, perform simple maintenance and keep the home clean. They also ensure the sitter's furniture is in good shape and complements the home's decor.

Source:Realtor (01/09) Vol. 42, No. 1, P. 18; Tracey, Melissa Dittmann© Copyright 2009 INFORMATION, INC. Bethesda, MD (301) 215-4688

Soon To Come... More Honest Appraisals

2009-01-23T08:54:00.000-05:00

On Jan. 9, Fannie Mae and Freddie Mac announced revisions to their Home Valuation Code of Conduct. Starting on May 1, lenders that want to sell their loans to the two industry behemoths must follow new guidelines. Mortgage brokers and Realtors, for example, will not be allowed to choose appraisers.

Read the full story: http://www.floridarealtors.org/NewsAndEvents/n1-011909.cfm

Realtors Welcome Obama!

2009-01-22T09:19:00.002-05:00

Following the inauguration of President Barack Obama, National Association of Realtors(R) President Charles McMillan issued this statement: "Today is truly an historic day..."

For the full story:
http://rismedia.com/wp/2009-01-21/realtors-welcome-president-barack-obama/

We Want Green!

2009-01-20T20:47:00.001-05:00

Today's home buyers are asking for more green features as a means of lowering costs, becoming more environmentally friendly, and adopting a healthier lifestyle.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n2-012009.cfm

RE-RE-REPOSITION

2009-01-19T14:21:00.002-05:00

Most home sellers find that they cannot sell their properties for as much as they want, and real estate agents increasingly reposition the listings. "When a seller puts their home on the market on day one, they very well could be the best priced home in the best condition," says Tricia McEneaney of Coldwell Banker in Chicago. But if over the next 30 days,10 more competitively priced homes come on the market, then the seller's home may no longer be in a position to sell." Depending on the owner's motivation and price movement in their market, agents might discuss the latest market data with sellers every couple of weeks, or every 60 to 90 days.

Once the most up-to-date data is in hand, sellers and agents can decide whether to lower the asking price, provide incentives, undertake home upgrades, or hold off selling until the market improves. Agents often lower the price slowly over time so that the property shows up on hot sheets; and they might want to consider updating marketing materials with more information or better photos.

Source: Chicago Sun-Times (01/16/09) Smith, Daniel P.© Copyright 2009 INFORMATION, INC. Bethesda, MD (301) 215-4688

Be A Winner!

2009-01-19T12:13:00.003-05:00

"First-time buyers are likely in a better position to buy a house than ever in recent memory. Low prices combined with rock-bottom interest rates means they can effectively run the table." Quoted from the Sarasota Herald Tribune: http://www.heraldtribune.com/article/20090119/ARTICLE/901190302/2055/NEWS?Title=Housing_downturn_s_winners_and_losers.

Truth is... it is a great time to buy if you are a first time home buyer AND if you aren't upside down on your current home.

There's plenty of safe and/or creative loans out there for first time homebuyers requiring very little money down. I have a long list of programs available if you're interested.
Also, to qualify for a FHA loan, you only need 3.5% down and can purchase a home up to $292,ooo. You can buy a new or newer home for this price in a lot of communities including Lakewood Ranch and Palmer Ranch and many of the smaller communities in between. Just outside of Sarasota in Ellenton down through Venice, you'd be amazed at what's available.
HUD homes can be snatched up for as little as $100 down!

Call me (941) 350-4411 or email me at Christina@YourHometownConsultant.com if you want to learn more about your options.... If you still doubt me about the fabulous deals available, then let me offer you proof!

Info On The Oaks Club

2009-01-15T14:37:00.004-05:00

Considering a home in The Oaks Club of Sarasota? Have questions you've not been able to answer?

Well, not only can I email you all the homes for sale and take you on a tour, but I also have on hand all the information you need to educate yourself and/or get an associate membership (non-residents).

Detailed maps?
Membership info for potential buyers and property owners?
Site access at the gates?
Contacts for additional info?
What's for sale?
What's sold recently?

Let me know what you need.

Rent & Then Buy!?!

2009-01-13T21:09:00.001-05:00

Falling house prices and a slow market are forcing more homeowners to consider renting their current properties when it's time to buy a new home.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n1-011309.cfm

"House Buyers Must Beware Of Builder 'Greenwashing'"

2009-01-11T22:35:00.001-05:00

Published: Sunday, January 11, 2009 at 1:00 a.m. Last Modified: Thursday, January 8, 2009 at 11:10 a.m.

If you are interested in buying an environmentally sound house or residing in a sustainable community, you need to become familiar with the term "greenwashing," which basically means proclaiming that something is environmentally sound when it really isn't.

A combination of the words "green" and "whitewash," the term reportedly was coined by suburban New York environmentalist Jay Westerveld in 1986 in an essay regarding the hotel industry's practice of promoting the reuse of guest towels in a supposed effort to conserve water, when, in fact, there was little or no effort toward waste recycling.

Back then, Westerveld focused on the hotel business. But the sad reality is that, today, greenwashing, aka "green sheen," is rife across the board in every business as companies rush to take advantage of the heightened consumer interest in environmentally safe or beneficial products.

For the full article:
http://www.heraldtribune.com/article/20090111/ARTICLE/901110302/2117/REALESTATE?Title=House_buyers_must_beware_of_builder__greenwashing_

10 Tips for Generating Buyer Interest

2009-01-09T13:30:00.003-05:00

Distraught sellers who need to generate more interest in house that has been languishing on the market for months should consider 10 steps from MSNBC financial guru Laura T. Coffey.

Can the clutter. Pack up knickknacks, pictures, piles of paper and furniture that makes the place look crowded.

Let the light in. Take down any heavy drapes.

Scrub-a-dub-dub. Shampoo soiled carpets, Scrub the front door. Repaint scuffed walls. Tidy up the lawn and trim the shrubs.

Get moving on the "honey do" list. Fix everything that is in need of repair.

Enhance the view. Erect a fence or plant shrubbery to improve or obscure the view of unattractive nearby properties or streets.

Try weeknights. Holding an open house on Wednesday may attract a different crowd.

Ask for criticism. Consult with buyers’ agents for their feedback.

Send the owners away. Ask them to vacate when potential buyers come around so they can talk freely.

Rent to own. Give a potential buyer a little credit. Becoming a landlord may keep you from having to shoulder two mortgages.

Drop the asking price. And figure out the lowest amount you're willing or able to accept.

Source: MSN Money, Laura T. Coffey (01/06/2009)

Commercial Real Estate Outlook Dampened

2009-01-09T09:52:00.001-05:00

With the exception of cash transactions, investment activity in commercial real estate sectors is nearly at a standstill because commercial lending has essentially halted, while job losses are curtailing the demand for space, according to the latest Commercial Real Estate Outlook. Lawrence Yun, NAR chief economist, said there are serious structural problems in commercial lending. The NAR forecast covers the office, industrial, retail and multifamily markets.

Read more:
http://www.realtor.org/press_room/news_releases/2008/commercial_real_estate_outlook_dampened?&WT.mc_id=LS010709&CAT=Comm

Help With Old & New Mortgages

2009-01-06T20:53:00.002-05:00

BANKRUPTCY CAN GET YOU A BETTER LOAN?

It is increasingly likely that judges will get the power to rewrite mortgages for homeowners facing bankruptcy, some analysts say. The banking industry has fought these mortgage "cram-downs," but voluntary foreclosure-prevention programs aren't working so far, and judges may be given the power to step in.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n5-010609.cfm

3.5% DOWN PAYMENTS STILL AVAILABLE!

Don't believe everything you read, says NAR. As part of a housing story, a number of media outlets say buyers now need a 20 percent downpayment to get into a home, which is not true. FHA mortgages, for example, require only a 3.5 percent downpayment.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n3-010609.cfm

NEW CONDO DISCLOSURE LAW Took EFFECT JANUARY 1, 2009

2009-01-05T12:43:00.001-05:00

Beginning Jan. 1, 2009, condo buyers are entitled to receive from sellers (who are not developers) a disclosure developed by the Florida Department of Business and Professional Regulation (DBPR) which details the rights and responsibilities of condominium boards and unit owners, voting rights, meeting notices and other governance matters.

The disclosure, known as the Condominium Governance Form, is now available in PDF form from the DBPR Web site:
http://www.myflorida.com/dbpr/lsc/LSCMHCondominiumForms.html

Needs V. Wants

2008-12-08T12:50:00.001-05:00

When the economy shrinks, so does the size of housing, sending the popularity of tiny apartments and condos soaring as construction costs rise and financial markets fall. Developers are also responding to buyers' penchant for urban living and their environmental awareness.

Read the full story: http://www.floridarealtors.org/NewsAndEvents/n3-120808.cfm.

Biggest Buck For You Bang

2008-12-03T18:08:00.001-05:00

For the second year in a row, Realtors report that exterior remodeling projects return the most money as a percentage of cost, as detailed in the 2008 Remodeling Cost vs. Value Report.

Read the full story: http://www.floridarealtors.org/NewsAndEvents/n2-120308.cfm

MyMoney.gov

2008-11-12T21:55:00.001-05:00

MyMoney.gov is the U.S. government's website dedicated to teaching all Americans the basics about financial education. Whether you are planning to buy a home, balancing your checkbook, or investing in your 401k, the resources on MyMoney.gov can help you do it better. Throughout the site, you will find important information from 20 federal agencies government wide.

Source: refdesk.com

Sarasota's 5 Year Economic Development Strategic Plan Survey

2008-11-11T22:26:00.003-05:00

Always complaining for ways to have your voice rise above the crowd? Here's your chance. Take a few minutes to fill out the survey. Read the letter from the EDC below and follow the appropriate links:

As a neighborhood leader you may know that the Economic Development Corporation of Sarasota County is working with local and regional partners to update a five-year economic development strategic plan for the community. The purpose of this plan is to identify targeted opportunities that would diversify our economy, and increase the competitiveness of our existing businesses so they can continue to be a vital part of our region. We recognize that this will require us to assess and build on our own assets, as well as explore new ideas.

To help develop this plan, we need your thoughts. The following links will connect you to a 15-minute survey that will ask you to identify the region's strengths and weaknesses in key areas that support a strong economy. We recognize that this survey may be a bit long, however, it collects an array of valuable information and serves as a foundation for a multi-year platform for the economy. Therefore, we strongly encourage you to take the time to provide your input.

This survey information will be combined with other quantitative data and information to create a community assessment and narrow down options that the economic plan will explore in more detail. At the end of the survey you will see how your answers compare to others who have taken the survey-real time feedback.

If you are a member of multiple business or community organizations, you may receive this request more than once, but you need only take the survey once. If you own or manage a business and also belong to a community organization, please take the survey as a business participant.

If you own or work in a private sector business please select this link www.starassessment.com/survey/sarasotabusinesssurvey.
If you lead or serve a nonprofit business group (e.g. chamber), a community organization, neighborhood group, public agency or other similar group, or are an elected official or citizen please select this link www.starassessment.com/survey/sarasotacommunitysurvey.

We appreciate your feedback by November 18.

If you have any questions about this survey please e-mail questions@starassessment.com. Thank you for your participation - your input is greatly valued.

Regards,
Emily S. Sperling
Community Relations Manager
Economic Development Corporation of Sarasota County
Live Oak Corporate Center
2601 Cattlemen Road Suite 201
Sarasota, FL 34232
(941) 309-1200 ext. 106 Fax (941) 309-1209
esperling@edcsarasotacounty.com

September's Sarasota, Florida & US Real Estate Sales Statistics

2008-10-24T15:40:00.003-05:00

From the Sarasota Association of Realtors:
http://www.sarasotarealtors.com/StatsSept08.pdf

From the Florida Association of Realtors:
http://www.floridarealtors.org/NewsAndEvents/n1-102408.cfm

From the National Association of Realtors:
http://go-to.realtor.org/r/IY67XN/EWV1D/S3NNA7/FQP6E/755QE/XL/h/

Smart Growth VS Smart Growth

2008-10-24T07:44:00.003-05:00

About a month ago, I had the opportunity to meet both Carolyn Mason and Jono Miller at the Sarasota Association of Realtors Annual Meeting where they and John Mullarky were invited to join a panel interview by Laura Benson before all of our members.

Personally, I was impressed with the opinions and approaches of Carolyn Mason and Jono Miller because, I must admit in case you don't know me, I'm a firm supporter of both 1) actions to support and keep the working/middle class in Sarasota and 2) making sure Sarasota keeps its reputation for being one of the best LITTLE cities to work and play. Regarding John Mullarkey, I think the name of his boat is funny--that's about it. And he's Irish(ish).

I still don't know which way I'll vote but I did think Doug Sword's article in the Sarasota Herald Tribune today did a pretty good job of summarizing the positions of the candidates. Read below.

"At first blush, it is a straightforward contest, a pro-business Republican running against an environmentalist Democrat for an open seat on the County Commission.

"But the obvious comparisons end there.

"Carolyn Mason, a former Democrat turned Republican, is a widowed mother of three who worked her family's way out of public housing, bought a house and eventually became Sarasota's mayor. She would also be the first black to win a seat on the County Commission in its 87-year history.

"Jono Miller is the head of New College's environmental studies program and has long been a favorite of slow-growth and neighborhood activists. But he seems to have convinced much of the business community that he would not be a slam-dunk vote against growth if he gets on the commission."

For the full article, click here: http://www.heraldtribune.com/article/20081024/ARTICLE/810240368/2055/NEWS?Title=County_commission_race_still_surprises

"Sarasota County Considers Helping Homeowners Avoid Foreclosure"

2008-10-23T21:03:00.003-05:00

Tough times call for creative measures, right? The potentially local good news is that Sarasota leaders are at least trying to do something proactive to help the rising rates of foreclosures AKA folks losing their homes, their jobs and their futures.

County administrator Jim Ley proposed a foreclosure prevention program this week that would divert funds from affordable housing programs, typically providing first-time homebuyers with downpayment assistance, to help homeowners keep their homes from going into foreclosure.

For more details, check out Zac Anderson's article in the Sarasota Herald Tribune: http://www.heraldtribune.com/article/20081023/ARTICLE/810230383/0/SPORTS.

Pains In The...

2008-10-20T21:55:00.006-05:00

"Lenders Told They Can't Hide" By Todd Ruger
Published: Monday, October 20, 2008 at 1:00 a.m. Last Modified: Monday, October 20, 2008 at 1:23 a.m.

As more and more Florida homeowners slip into foreclosure, the law firms handling the cases for the banks have become harder to reach, those familiar with the system say. Homeowners and their attorneys, and even judges, cannot get a call back, making it impossible to dispute a debt or work out deals other than foreclosure until the case is in front of a judge.

"The lenders are just not talking to them," Chief Circuit Judge Lee Haworth said. Now, Haworth and other 12th Judicial Circuit court judges are going to force those law firms to meet with the homeowner within 45 days for a frank discussion on alternatives to foreclosure. Those discussions could center around refinancing, forgiving part of the debt or clarifying the amount required to reinstate or pay off the loan.

The Homestead Foreclosure Conciliation Program will start in December. It aims to keep people in their homes and reduce the strain on the court system from foreclosure cases, which are on pace to double this year compared with 2007. The program applies only to property registered as a primary residence under the homestead exemption. Local bar associations and legal aid organizations agreed to provide some attorneys to assist those homeowners during the meeting at no cost.

The law firms representing lenders are also required to notify any homeowner of the program, contact them and invite them to participate.

The large increase in foreclosures has strained almost every part of the foreclosure process, from serving legal papers to finding courtroom time. Coming to a solution within 45 days would avoid protracted legal battles and reduce the number of cases going through the system. Those long legal battles seem to be the only way to get law firms representing banks to return calls, Miami-based foreclosure attorney Rick Neustein said. "Most of the time they don't want to talk to us until they see this thing is being hotly contested," Neustein said. "They don't get serious until we're defending the foreclosure for nine months." Haworth said the main issue is only a small number of law firms handle the foreclosure cases for the banks for small legal fees, so they want to put as little time as possible into a case.

If the law firms do not comply with the new order, they will face courtroom sanctions that would cost them money, since it would take their attorneys more time to handle the cases. The law firms for lenders would not be able to settle the case through a summary judgment, a quick resolution to cases. The lender attorneys would no longer be able to appear at hearings over the telephone. And that lender's cases would be assigned the lowest priority for court hearing times, which may delay the case for an extended period.

Florida was the No. 4 state for foreclosures in August. Across the country, foreclosure filings in August rose 12 percent from the previous month and 27 percent from August 2007. The 303,879 filings -- default notices, auction sales notices and bank repossessions -- represent one filing for every 416 households. According to numbers provided by Sally Olsen Rackey of Sarasota's Hembree & Associates, one out of every three houses sold in Sarasota County since the beginning of the year was a foreclosure sale.

NAR Lobbies For Housing Rescue Package

2008-10-17T09:04:00.001-05:00

NAR unveiled a four-point legislative plan to reinvigorate the housing market, and is calling on Congress to act. Among other things, the plan would get rid of the pay-it-back requirement for the current $7,500 first-time homebuyer tax credit, and it would expand that tax credit to all buyers of primary homes.

Read the full story: http://www.floridarealtors.org/NewsAndEvents/n1-101608.cfm.

Mow Your Grass Or Go To Jail

2008-10-16T11:49:00.001-05:00

A cash-strapped former Long Island resident was jailed for not taking care of the dying grass in the front yard of his Florida home. The Tampa-area resident is fighting foreclosure and ignored association warnings and a judge's orders.

Read the full story: http://www.floridarealtors.org/NewsAndEvents/n5-101508.cfm

Economic Stabilization Bill Includes Clean Energy Tax Incentives

2008-10-08T21:12:00.003-05:00

Update from the Department Of Energy:

President Bush signed the $700 billion Emergency Economic Stabilization Act of 2008 (H.R. 1424) into law last week, which also extended and enhanced critical tax credits and financing relating to renewable energy and energy efficiency. The Energy Improvement and Extension Act of 2008, which was attached to H.R. 1424, provides a one-year extension of the production tax credit (PTC) for wind energy, keeping the credit in effect through 2009. The bill also provides a two-year PTC extension, through 2010, for electricity produced from geothermal, biomass, and solar energy facilities, as well as trash-to-energy facilities, small hydropower facilities using irrigation water, capacity additions to existing hydropower plants, and hydropower facilities added to existing dams. In addition, the bill creates a new PTC for electricity produced by marine and hydrokinetic renewable energy systems (also called advanced water power systems) with a rated capacity of at least 150 kilowatts and placed in service by 2011. To help on the financing end, the bill authorizes $800 million in new Clean Renewable Energy Bonds for all of the above technologies. See the White House press release: http://www.whitehouse.gov/news/releases/2008/10/20081003-17.html.

While the PTC extensions and enhancements are good news for all major renewable energy sources, arguably the biggest winner in the tax bill is solar energy, which gained an 8-year extension (through 2016) of the 30% tax credit for residential and commercial solar installations, as well as the elimination of the $2,000 tax credit cap for residential solar electric installations. The Solar Energy Industries Association (SEIA) expects the creation of more than 440,000 jobs and the generation of at least $325 billion in private investment due to those changes, which should yield more than 28 gigawatts of solar power. The Solar Electric Power Association (SEPA) also sees huge potential growth in a measure that allows electric utilities to take advantage of these tax credits. In addition, small wind power gained a 30% tax credit, up to $4,000 for wind turbines with capacities of 100 kilowatts or less, which is also good through 2016. The tax credits for fuel cells and microturbines are also extended by 8 years, and the fuel cell tax credit limit is tripled, to $1,500 for each 0.5 kilowatts of capacity. The act also creates a new 10% tax credit for certain combined heat and power systems and for geothermal heat pumps (up to $2,000). In addition, the bill also provides accelerated depreciation for utilities installing smart meters and smart grid systems. See the press releases from SEIA http://seia.org/cs/news_detail?pressrelease.id=217 and SEPA http://solarelectricpower.org/docs/SEPA%20Statement%20on%20ITC.pdf.

In terms of energy efficiency and alternative fuels, the act extends and revives a number of energy efficiency tax incentives for buildings, creates new tax credits for efficient vehicles, and extends and modifies tax credits for biofuels. Specifically, it extends energy efficiency tax deductions for commercial buildings through 2013 and revives similar deductions for home improvements installed in 2009, adding a new $300 tax credit for energy-efficient biomass fuel stoves. It also extends tax credits for builders of new energy-efficient homes through 2009 and increases tax credits for manufacturers of energy-efficient appliances, while extending that credit through 2010. The act creates a new tax credit of up to $7,500 for plug-in hybrid vehicles, which are expected to go on sale in 2010, while providing tax exemptions for idle reduction technologies and advanced insulation installed in trucks. The act also extends a 30% tax credit for alternative fuel refueling facilities through 2010 and expands the credit to include electric charging stations. For biofuel producers, the act extends a 50% first-year depreciation for cellulosic biomass ethanol plants to include any plant producing biofuels from cellulosic (non-food) biomass sources. The act also extends through 2009 a PTC of $1 per gallon for biodiesel and other biomass-based diesel fuels and a credit of 10 cents per gallon for small biodiesel producers, but it cuts the PTC for renewable diesel blended with petroleum to 50 cents per gallon, while closing a loophole that allowed foreign producers to earn a U.S. tax credit. See the press releases from the ACEEE http://www.aceee.org/press/0810legislation.htm and the National Biodiesel Board http://biodiesel.org/news/08clickthrus/20081003_taxextender.shtm.

To help individuals take advantage of all the tax credits, Division C of H.R. 1424 increases the income limits for the Alternative Minimum Tax, while the energy tax provision allows unused tax credits to be carried over to the next tax year. And to help finance energy efficiency improvements, the bill authorizes $800 million in Qualified Energy Conservation Bonds, which will be issued by state and local governments. The bonds can be applied to a wide range of energy efficiency projects, research and demonstration projects, and even renewable energy projects. The bill also extends the authority to issue bonds for qualified green building and sustainable design projects through 2012. See the Division B and C of H.R. 1424, and for comparison, see Subparts A, D, and E of Part IV of Subchapter A of Chapter 1 of the existing Internal Revenue Code http://www4.law.cornell.edu/uscode/26/usc_sup_01_26_10_A_20_1_30_A_40_IV.html (posted by the Cornell University Law School), as well as Section 168 of Part VI of Subchapter B.

To subscribe to the source newsletter, visit http://apps1.eere.energy.gov/news/subscribe.cfm.

Compared To The Great Depression

2008-10-06T21:04:00.000-05:00

It's easy to be concerned about the economy right now, but older adults who remember the Great Depression of 1929 have some advice for Americans scared of the news headlines: Don't worry about it. Few, if any, analysts predict that current financial problems will get that bad.

Read the full story: http://www.floridarealtors.org/NewsAndEvents/n2-100608.cfm.

Bragging Rights!

2008-10-02T08:58:00.005-05:00

At the Florida Association of Realtor's Convention last weekend, I won a super big award for my contribution to the local and state assocations and the community of Sarasota!

Here's what FAR had to say:

Newcomer Award

Winning FAR’s Newcomer Award for 2008 is Christina Pitchford Perez, a member of the Sarasota Association of Realtors. The Newcomer Award recognizes an outstanding individual who entered the Realtor profession within the past three years, and, during that time, made notable contributions to the local and state associations, as well as to his or her community.

Pitchford Perez is a founding member and the 2008 vice chair of the Sarasota Young Realtors group, established by her local association in 2007 to identify and foster future leaders. She also is a founding member of the Green Realtors Alliance of Sarasota, which created and hosted a successful trade expo this year to introduce green and sustainable real estate related products to Realtors, clients and potential clients in the community.

Pitchford Perez helped plan a trade mission to the United Kingdom last year with the association’s International Committee, worked with the Mid-Florida Regional MLS Review Team, and assisted many of the local association’s committees behind-the-scenes. She volunteers for numerous community groups as well, including the Children’s Miracle Network, the PTA, United Cerebral Palsy, the local public library system, Mote Marine Laboratory and Sarasota’s Empty Bowl Project.

http://www.floridarealtors.org/NewsAndEvents/n1-092508.cfm

NAR's Take On The EESA

2008-09-30T20:07:00.003-05:00

The National Association of Realtors (NAR) supported and continues to support the Emergency Economic Stability Act (ESSA). There's been myriad opinions in the media and on the streets about the pros and cons and much speculation as to who will benefit most from its passage.

For a point-by-point analysis of the major provisions according to NAR, visit: http://takeaction.realtoractioncenter.com/campaign/eesa/explanation.

Let me know what you think.

"August 2008 Sees Continuation of Summer Sales Slowdown"

2008-09-29T11:03:00.003-05:00

Despite a late summer and early fall dominated by depressing economic news across the nation, property sales in the Sarasota MLS did not see a dramatic change from the previous month, continuing a traditional slower summer sales season.

Overall sales stood at 440 in August, only slightly lower than the 454 in July. In fact, sales in August 2008 were actually higher than in August 2007, when only 430 overall single family homes and condos were sold.

The biggest decrease from last year was in condominium sales, which fell to 84 this year compared to 122 last year. The August 2008 report continued to show strength in pending sales, which stood at 536, just off last month's total of 584. In August 2007 only 456 pending sales were reported, which forecasts a stronger market for the fall and winter months. Pending sales reflect contracts executed by buyers and sellers, and current numbers indicate more closings likely in the upcoming months.

Sales prices for single family homes decreased somewhat in August, falling to $226,250 from last month's median of $250,000. But condominium prices saw a resurgence to $295,000 from July's $252,500. This means most property is apparently holding its value better locally, which also means the local market is doing better than the statewide and national downward trends.

"The national financial crisis has obviously dominated the news this month, but fortunately our market appears to be weathering yet another storm very well," said Helen Sosso, 2008 SAR President. "These are difficult times for many businesses and industries, and the real estate industry is no exception. But the Sarasota market is blessed with many fundamental strengths and attractions, one of which is our highly skilled and professional group of real estate brokerages and agents. In difficult times, the guidance of member agents in the SAR is vital to achieving your most advantageous property transaction."

Inventory levels in August 2008 dropped for the sixth consecutive month, and are the lowest they have been since late 2005. There were 6,461 single family homes listed, compared to 8,677 in July 2008, and 2,407 condos listed, compared to 4,599 condos listed last month. However, some of this discrepancy is likely attributable to the new MLS system which became operational in early August and resulted in the elimination of much of the duplication in property listings between the five area member associations (including the Manatee Association of Realtors).

The current local market, despite the negativity in the national news, continues to demonstrate statistically that we have a great selection of more affordably priced housing for buyers to visit and purchase. In addition, declining inventory levels normally indicates the market is returning to a more historical balance, which eventually leads to normal, long-term price appreciation.

Source: Sarasota Association of Realtors

Amendment 5 Confusion

2008-09-16T19:30:00.003-05:00

Among myriad opinions floating around in the street and the press regarding the removal of Amendment 5 from the November ballot, the Florida Supreme Court issues a explanation:

AMENDMENT 5

Florida's Supreme Court justices, in a 15-page unanimous opinion, explained their decision to remove Amendment 5 from the November ballot. They said that voters would be misled by a claim that local school property taxes would be replaced with an "equivalent" amount of state funds when that guaranteed replacement is only good for the first year.

Read the full story: http://www.floridarealtors.org/NewsAndEvents/n2-091608.cfm.

Jungle Gardens Saved & New Venice Park

2008-09-05T07:15:00.001-05:00

The rescued animals and tropical plants at Sarasota's Jungle Gardens will have a safe home, and Venice a new park, after state money was approved Thursday for both local conservation projects.

The Sarasota Conservation Foundation secured $6.7 million to buy a conservation easement for the 10-acre Jungle Gardens site, ensuring that the 68-year-old attraction will remain a zoological and botanical garden.

The city of Venice will receive $3.7 million for a new 10-acre waterfront park near the historic Venice Train Depot site.

The two projects had to qualify as natural, cultural, historic or recreational "jewels" to receive Florida Communities Trust grants, funded through the $300 million annual Florida Forever program that state legislators reauthorized this year.

Both projects made the cut despite fierce competition. The state had $73 million to dole out and applications for $263 million in grants from 84 communities. In the end, 18 projects received funding for 2008. "They had to be pretty special," said Doug Hattaway, who helps communities secure grants as the senior project manager for the Trust for Public Lands conservation group.
Sarasota County, he added, "was well represented."

Albert Joerger, president of the Conservation Foundation, said Sarasota County community leaders traveled to Tallahassee to make the case for Jungle Gardens as a historic treasure.
"This is a great day for Sarasota," Joerger said. "Jungle Gardens is exemplary of old Florida. They're not making any more of these."

According to Jungle Gardens' Web site, it is one of the oldest continuously operated attractions in the state, and dates back to 1940 when tourists arrived by car and roadside attractions were popular.

Joerger said a private donor has agreed to contribute part of the required local matching funds to purchase the easement from a family trust. But Joerger is still looking for private and possibly public financial support for the roughly $9 million purchase.

By Zac Anderson
Published: Friday, September 5, 2008 at 1:00 a.m. Last Modified: Friday, September 5, 2008 at 1:20 a.m.

Our Libraries Rock!

2008-08-31T07:48:00.002-05:00

Sarasota County residents are among the most active library users in the state, with 77 percent of them holding library cards.

That ranks first among mid-sized counties, according to the State Library and Archives of Florida.

Sarasota County ranks third in per-capita library visits, with more than 2.6 million visits annually.

Visit our libraries online: http://suncat.co.sarasota.fl.us/.

For full article: http://www.heraldtribune.com/article/20080831/ARTICLE/808310343.

Source: SHT online 8-31-8

Alert: Food Bank Out Of Food!

2008-08-27T13:24:00.001-05:00

We Need Your Help!

The Food Bank is currently out of food. Angels Attic, a local non-profit organization, is asking for help to collect food for the many hungry children who go to school without breakfast everyday.

The following items are needed:
canned fruit
canned tuna
boxed macaroni and cheese
Ramon noodles
cereal
spaghetti sauce
spaghetti noodles (all kinds)

Call or email me where I can meet you to pick up your donation!!! Please help.

VOTE!

2008-08-26T07:02:00.004-05:00

My kids and I will be on the corner of 41 and Bee Ridge today to support Bill Furst for Sarasota County Property Appraiser! To learn more about Bill, visit: http://www.furstforfairness.com/.

Remember to get out and VOTE! It's your right as a US citizen. Don't take it for granted.

Florida's Home Sales Increases For First Time In 2 Years!

2008-08-25T13:23:00.002-05:00

So the increase is only six more homes last month compared to July 1007 but every little bit counts, right?

For the full story: http://www.floridarealtors.org/NewsAndEvents/n1-082508.cfm.

Show You Care: Clean the Coast!

2008-08-25T12:43:00.003-05:00

Come clean up the coastline with me, my kids and a bunch of great volunteers from the Sarasota Association of Realtor's GRAS (Green Realtor Alliance of Sarasota) Saturday September 20 at 8 am around John Ringling Causeway. Follow this link for more details and the registration form: http://www.sarasotarealtors.com/about/event.cfm?eveID=74.

This is a great way to get your kids involved as volunteer opportunities for kids are few and far between.

Hope to see you there!

Hip Hop High-Life For Sale

2008-08-22T13:20:00.002-05:00

If you’re in the market for a house that lives large, check out the homes of hip-hop stars currently for sale. Some of these big names are just looking to move to a home that’s still more extravagant. Others have run up against the same hard times that have hit many of their fans. Here are the five hip-hoppers and the homes they are trying to unload:

Suge Knight. After he filed for bankruptcy and lost control of his record company, Death Row Records founder Suge Knight's $6.2 million mansion went up for sale last year.
Kanye West. The Grammy-winning rapper's six-bedroom, 35,000-square-foot Beverly Hills, Calif., mansion went up for sale six months ago for $8.7 million.
Russell Simmons. The Saddle River, N.J., manse of producer Russell Simmons is for sale for $20 million.
50 Cent. Rapper 50 Cent's Farmington, Conn., 19-bedroom, 50,000-square foot mansion went on the market last year for $18.5 million.
Scott Storch. The hip-hop producer's $10 million mansion is located on Miami Beach's exclusive, manmade Palm Island. Storch, recently hitless and two years delinquent on property taxes, is facing foreclosure.

Source: Forbes, Peter Hoy (08/18/08)

Get Your Allstate Discount

2008-08-19T07:10:00.003-05:00

Allstate's agreed to give a 5.6% discount to its current clients in addition to paying a $5 million fine. Make sure your discount makes it to your bill....

For more details: http://www.floridarealtors.org/NewsAndEvents/n1-081808.cfm.

New Orleans' Investors Wanted for Historic Houses

2008-08-16T07:04:00.001-05:00

The nonprofit Preservation Resource Center in New Orleans is looking for civic-minded investors to adopt historic homes and preserve them.

Launched July 1, the program is for now targeting 13 blighted homes and 10 parcels where new homes can be built, using traditional New Orleans architectural styles.

The program asks investors to commit between $10,000 and $140,000 for a period of 18 months. At the end of that time – when the work has been completed and the property has been sold – the investors can either redeem their investment or roll it over into the restoration or building of another property.

The program "is ideal for a corporation, foundation or even a family to get involved in the rebuilding process of New Orleans," says Pamela Bryan, director of the PRC's Operation Comeback.

Source: The Times-Picayune (08/05/08)

Market Updates

2008-08-14T20:44:00.001-05:00

HOME SALES

Florida Realtors continued to report positive signs for the state's housing sector in the second quarter of 2008. Sales of both existing single-family homes and existing condos improved in the second quarter compared to first quarter 2008, according to FAR's latest housing data. A total of 35,178 existing homes sold statewide in 2Q 2008, up 38.2 percent over 1Q 2008. Nationwide, existing home sales rose from the first quarter in 13 states, according to NAR's latest survey.

Read the full story: http://www.floridarealtors.org/NewsAndEvents/n1-081408.cfm.

FORECLOSURES

Nationwide, more than 272,000 homes received at least one foreclosure-related notice in July, up 55 percent from the same month last year and 8 percent from June. Florida trailed only Nevada and California's state foreclosure rates for the month, while Cape Coral-Fort Myers ranked No. 1 for metro areas.

Read the full story: http://www.floridarealtors.org/NewsAndEvents/n4-081408.cfm.

Me? Couldn't Be. Then Who?

2008-08-13T07:13:00.004-05:00

The following three articles are all from the Sarasota Herald Tribune although much the same can be found nationwide as such arguments of who's to blame for our "housing crisis" occur everywhere from the beach's snack shop to the Senate. I found the presence of these three highlighted on the SHT's website noteworthy, especially considering I've yet to read an article from the SHT about the great deals now available for first-time homebuyers and wage-earning workers. I know, I know (you don't need to remind me) that scary stories sell better than warm-fuzzy ones even when true. Last on the list is a letter from the President of the Florida Bankers Association offers a solution to the mortgage problem written in response to this article: http://www.miamiherald.com/multimedia/news/mortgage/probe.html.

"Appraisers Felt Lender Pressure" by Harold Bubil:
http://www.heraldtribune.com/article/20080809/COLUMNIST/808090312/2132/realestate&title=Appraisers_felt_lender_pressure

"Placing Blame For The Collapse" by Harold Bubil:
http://www.heraldtribune.com/article/20080726/COLUMNIST/807260309/2132/realestate&title=Placing_blame_for_the_collapse

"Bankers Blaming Mortgage 'Originators' For Market Mess" by Harold Bubil:
http://www.heraldtribune.com/article/20080722/BLOG12/596498198/2369/BLOG12&title=Bankers_blaming_mortgage__originators__for_market_mess

"We Must Protect Florida's Mortgage Industry" by Florida Bankers Association President and CEO Alex Sanchez

Upon reading recent news stories produced by an investigative team of the Miami Herald, I-like many others-was alarmed, disappointed and outraged. The stories revealed some startling statistics and heartbreaking stories related to mortgage fraud in our state. Some of what the newspaper found included:

One in three brokers who committed fraud were allowed to continue working in the industry without any monitoring.
More than 80 brokers who were caught stealing from clients by siphoning funds from escrow accounts and issuing excessive fees were allowed to continue working in the industry.
Tools that could have been used to protect consumers, such as suspensions and revoking licenses, were used rarely, if ever.
The number of licenses revoked by regulators declined each of the past eight years as Florida's mortgage fraud rate rose to the unenviable position of number one in the nation.

This news about these fly by night mortgage lenders is a stark contrast to the safety and soundness of the FDIC insured banking industry. Banks are highly regulated by the Federal Reserve Bank of the United States, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision and the State Banking Department.

An FDIC insured bank is highly scrutinized. Some of our banks are examined year-round and all others are examined every 12 to 18 months, which includes carefully screening and checking loan portfolios, bank procedures, bank practices and monitoring to ensure that our customers' money is safe and therefore sound. All of the banks operating in the state of Florida are highly regulated by state and federal agencies that monitor transactions, audit files and require numerous monthly, quarterly and annual reports.

In the 75 year history of the FDIC, no customer has ever lost one cent when their monies were in an FDIC insured bank savings account. The record speaks for itself. No one else can make that claim!

At times, bankers may have to tell customers things they don't want to hear such as "you can't afford this loan." But at the end of the day, I think people would rather hear that than "we're sorry, but your mortgage broker is in jail and all your money is gone."

Here-today-gone-tomorrow mortgage originators were in the practice of doing whatever needed to be done to close the loan. As we now see, some unscrupulous individuals working in the mortgage industry were willing to lie, cheat or steal just to seal the deal.

To the contrary, bankers want to build relationships with customers so that not just your mortgage is with the institution, but also perhaps savings and checking accounts, retirement accounts and more. When looking for a home or business loan, there is no better place to go than an FDIC insured bank.

Banks, which are well capitalized (meaning they have required rainy day funds) conduct a series of examinations to determine the credibility of a loan before its issuance, including verification of income, requiring a solid deposit and performing substantial credit checks. According to recent news articles, others peddled mortgages "that required no money down and minuscule payments for the first few years." Some even forged records like tax forms, account balances and income statements.

The Florida real estate market indeed has its challenges with flippers, fraud and foreclosures. We need to restrict the ability of criminals to work in Florida's mortgage industry from handling one of the most important-and often largest-financial purchases of a person's life: the purchase of a home. For this reason, there is just one group who should be entrusted with handling your vital financial transactions, an FDIC- insured bank.

Alex Sanchez is president and chief executive officer of the Florida Bankers Association (FBA). Established in 1888, the FBA is one of Florida's oldest trade associations and has a membership of nearly 400 financial institutions of various sizes; nearly 96 percent of banks operating in Florida are members.

Call To A Quick & Easy Action

2008-08-13T06:55:00.003-05:00

Below is a letter from the Sarasota Network for Climate Action (www.sarasotaclimate.org). Please read and take action.

You may have heard that Florida Power and Light has stopped the Sunshine Energy Program (which was designed to promote green energy with the extra $9.75 per month charged to willing FPL customers) since it has been recently revealed that most of this money went to marketing and administrative costs. Read about it here: http://www.heraldtribune.com:80/article/20080730/ARTICLE/807300390.

FPL is in hot water. So this looks like a good time to urge them to help us heat our own water—with energy from the sun. They need to follow the lead of a number of other U.S. power companies (e.g., TECO, OUC, JVA, and Progress) by establishing a rebate program for solar hot water systems.

So write to FPL now. A pile of real, stamped, through-the-mail letters may convince them. You can say something like this:

Mr. Armando Olivera, President
Florida Power & Light Company
700 Universe Blvd.
Juno Beach, FL 33408

Dear Mr. Olivera:
With the PSC's decision to cancel the Sunshine Energy Program, FPL has the opportunity to show the PSC and its customers that it is serious about renewable energy. I urge you to consider a well funded rebate program for the highly efficient, highly cost effective technology of solar hot water heaters.

In the sunshine state, we should be leaders in solar hot water heaters. FPL's solar hot water heater program in the 1980s was incredibly successful. Now is the time to reestablish that program and demonstrate a true commitment to efficiency and renewable energy.

Governor Crist has asked for 20% of the state's energy to come from renewable sources like wind, solar, biomass and geothermal by 2020. FPL has gone on record with agreeing with the 20% target, but not till 2030. You can move that up to match the governor's target.

Together we can do it. Give consumers a chance with a workable program for solar hot water heaters.

Thank you,
xxxxxxxxxx

For more information on the Sarasota Network for Climate Action, visit www.sarasotaclimate.org. Join today! Our friend Lee Hayes Byron's the boss lady!

New Housing Stimulus Bill Highlights

2008-08-12T12:36:00.003-05:00

Here's a link summarizing the Housing Stimulus Bill passed by the House and Senate and signed into law by George Bush: http://www.realtor.org/gapublic.nsf/pages/hr_3221_key_provisions.

Here's a brochure with additional explanation of the bill's highlights: http://www.scribd.com/doc/4711482/2008-Housing-Bill-Summary.

Thanks Pam!

How To Fight The Tax Assessor

2008-08-10T09:30:00.003-05:00

2008 Trim notices are mailed this month for both Sarasota and Manatee Counties. You have 25 days to file a petition with the Value Adjustment Board. Try it! You could save some money....

Here's an article from the SHT about someone who did it and won: http://www.heraldtribune.com/article/20080810/ARTICLE/808100304/2107&title=How_to_fight_the_tax_assessor.

Once the form is filed, you'll need to prepare info for your hearing date. PLEASE call or email me for help during this part of the process as I can collect verifiable data on values in your neighborhood to help prove why your home should be valued for less and save you money!

Sarasota City Hall Landscape Honored As Florida Friendly Yard

2008-08-08T15:21:00.004-05:00

To see firsthand what a quintessential Florida Friendly Yard looks like, take a peek at City Hall, 1565 First Street. The City of Sarasota was notified yesterday its City Hall landscape achieved the highest recognition level for Florida Friendly Yards. The recognition was awarded by environmental experts at the University of Florida extension office in Sarasota County.

The City achieved the “Golden Oak” recognition level, the highest of three levels, by assuring the landscape protects our natural resources. The landscape demonstrates to the public that serious environmental issues, such as storm water runoff, water shortages, and disappearing wildlife habitats, can be addressed without sacrificing attractive landscaping. “We wanted to showcase the plantings at City Hall as an educational tool because it is a public space that receives many visitors,” said Michele Mician, Neighborhood Coordinator who oversees green initiatives for the City of Sarasota. Some of the techniques used at City Hall include:

• Planting more native species

• Recycling grass clippings

• Collecting rainwater and using it to water plants

• Using drip irrigation

• Avoiding fertilizers and pesticides

• Positioning trees and shrubs to improve the building’s cooling capacity

• Planting low maintenance plants

• Providing cover for wildlife

• Purchasing plant materials from local native plant stores

• Positioning plants according to the principals of Crime Prevention through Environmental Design (CPTED)

Moving forward with green initiatives is one of the City Commission’s top five critical priorities. In October 2007, the Environmental Management Task Force, comprised of City employees, was created to oversee sustainability issues within City government. “The landscape department includes a master gardener whose expertise helped make the garden bed at City Hall Florida friendly,” said Neil Gaines, a Public Works employee who is a member of the EMTF.

In addition to the Florida Friendly Yard, visitors to City Hall can also see a set of rain barrels, which capture rainwater. Ultimately, that water is used to irrigate plants and flowers at City Hall through a drip system.

For more information about green initiatives visit yourgreencity.sarasotagov.com.

For more information, please contact:Jan Thornburg, Public Information Officer (941) 954-2613

Source: City Hall Press Release 8/7/8

Foreclosure Rescue Scams on the Rise

2008-08-08T11:10:00.003-05:00

Foreclosure rescue scams, in which con artists prey on struggling home owners, are becoming more of a problem, according to the Federal Trade Commission. The FTC has already filed three major foreclosure rescue cases this year, compared with zero a year ago; and one case involves thousands of victims and property worth millions of dollars, according to FTC regional director Brad Elbein, who heads the agency's foreclosure rescue campaign.

Some scammers promise to negotiate with a lender for a fee, then just take the money and run. In other cases, home owners pay rent to live in the house but sign title to a rescue company that is supposed to pay the mortgage. Instead, the company sells the house, taking whatever equity is left.

At least 14 states have passed new laws this year to protect home owners, including a new one in Idaho that requires a written contract with a rescue company and gives homeowners five days to change their minds. "The scope is probably going to be potentially as large as the mortgage fraud problem itself," says Sharon Ormsby, the FBI's chief of financial crimes.

Source: USA Today, Donna Leinwand (08/04/08)

How The New First-Time Buyer Tax Credit Works

2008-08-08T11:06:00.004-05:00

Under the new housing bill, home buyers who have not owned a home in the last three years will be eligible for a tax credit equal to 10 percent of the property up to a maximum of $7,500.

Here’s how it works:

The credit is $3,750 for married couples filing separately. Unmarried people who jointly purchase a home will be able to divide the $7,500 credit.

This program is actually a loan, which home buyers must repay over 15 years at zero percent interest beginning in the second year after they purchase the home. A home buyer who qualified for the whole credit would pay $500 for 15 years or about $41.67 per month.

The credit applies only to homes purchased on or after April 9, 2008, and before July 1, 2009.

High-income home buyers don’t qualify: Eligibility begins phasing out for single filers with adjusted income of more than $75,000 and $150,000 for joint filers. It completely phases out at $95,000 for singles and $170,000 for married couples filing jointly.

Source: The Washington Post, Michelle Singletary (07/03/08)

Countrywide Short Sale Basics & Details

2008-08-07T22:32:00.004-05:00

I just received this info from Pam Voorhees, an awesome Countrywide home loan consultant. It's super informative for anyone involved or thinking of getting involved in a short sale regardless of the bank holding the mortgage note(s).

One out of every four homeowners has a Countrywide Home Loan. With the growing number of short sale requests, we have established a support team to handle inquiries and status calls from borrowers or their agents.

Short Sale Process Example

Customer and/or authorized real estate agent contacts Short Sale Support Team at 1-866-880-1232 to request information on the process and documents needed for the short sale program.

The customer and/or agent faxes signed purchase contract, listing agreement and Preliminary HUD-1 to dedicated short sale fax at 1-888-491-4947.
The Short Sale Support Team contacts the customer and/or agent within 48 hours of receiving the fax.
An appraisal is also ordered within 48 hours of receiving the faxed offer.
The appraisal vendor contacts the customer and/or the agent to schedule the appraisal within five days of the offer.

Each potential short sale is reviewed on a case-by-case basis. Customers with accounts whose payments are completely up-to-date and current will not be considered unless there is an imminent default or hardship. Additional borrower information may be required, including:

An explanation of hardship
A copy of the most recent month's income verification or last three months of profit and loss statements, if self-employed.
A copy of the most recent month's bank statement.
A copy of the most recent year's income tax return.

The decisioning time varies based on the ability to obtain access to the property for an appraisal and on the financial situation of a particular customer.

The Short Sale Decisioning and Timeframe

A typical short sale decision can take 30-60 days from the date the offer is received. Several factors contribute to this timeframe:

Day 1: Receive a legitimate offer (This includes the listing agreement, copy of MLS, preliminary HUD-1, hardship letter and a signed purchase contract).
Day 2-15: Order appraisal (Timeframe to obtain the appraisal is approximately 10 days).
Day 15-25: Analyze (Obtain necessary financial documentation from the borrower to determine hardship and ability to contribute to the loss, dependent upon input from the borrower).
Day 25-30: Negotiate delegated decisions (Be advised that non-delegated decisions will take an additional 30-60 days. Many investors such as Fannie or Freddie and insurers such as FHA, VA, or Mortgage Insurance companies, do not delegate the short sale decision and require their explicit approval. If there are any subordinate liens, then there must be a negotiation with them to accept a reduced payoff amount to release their lien).
Day 30-35: Approve or decline.
Day 35-80: Receive successful approval of the offer and close.

All timelines noted herein may vary based on the volume of short sale activity, thoroughness of packages and the particulars of the specific transactions. They are meant to be utilized as guidelines and as a means to set appropriate and approximate expectations.

Countrywide's analysis of a potential short sale will include the owner's ability to participate in the loss, the purchase price, the current value of the home obtained by Countrywide and the short sale loss as compared to foreclosure/REO loss.

For more information, call or email me or Pam (941) 586-8079 Pam_Voorhees@Countrywide.com.

2009 Predictions

2008-08-07T12:55:00.004-05:00

Property values in Florida declined $153 billion last year, or 6 percent, state economists reported Wednesday. But they expect the state's economic picture to start improving in 2009.

Read the full story: http://www.floridarealtors.org/NewsAndEvents/n3-080708.cfm.

For a second straight meeting, the Federal Reserve has decided to remain on the sidelines and leave interest rates unchanged. In the opinion of many economists, that stance may prevail not only for the rest of this year but well into 2009.

Read the full story: http://www.floridarealtors.org/NewsAndEvents/n4-080708.cfm.

NAR's Pending Home Sales Index, a forward-looking indicator based on contracts signed in June, rose 5.3 percent to stand at 89.0 from May. "The rise in pending home sales was broad-based with all four regions showing gains," says NAR Chief Economist Lawrence Yun. Further improvement is predicted for the months ahead, and the report notes an upswing in Fort Myers.

Read the full story: http://www.floridarealtors.org/NewsAndEvents/n2-080708.cfm.

Sarasota County Seeks Applicants For Value Adjustment Board

2008-08-07T06:54:00.002-05:00

Just received this notice and thought someone out there might be interested:

The Sarasota County commissioners are seeking applicants to serve as the citizen representatives to the Value Adjustment Board.

The Value Adjustment Board (VAB) hears appeals from property owners challenging assessments of their property for taxation purposes by the Property Appraiser. The five members of the VAB currently include three county commissioners and two school board members. After Sept. 1, the membership structure will change to include two county commissioners, one school board member and two residents.

Any resident who owns a homesteaded property in Sarasota County is eligible for appointment so long as they are not a member or employee of any taxing authority. Any person representing a property owner in an administrative or judicial review of property taxes is also ineligible for membership on the VAB.

Commissioners will consider appointments to the new advisory committee at their Aug. 26 meeting.

The deadline for applications is 5 p.m. Monday, Aug. 18. To apply, click on Advisory Boards and Councils located under the County A-Z link. An advisory board application form is available with instructions for completion. Mail applications to the Clerk to the Value Adjustment Board, P.O. Box 8, Sarasota, FL 34230, or hand-deliver them to Board Records, Second Floor, County Administration Center, 1660 Ringling Blvd., Sarasota.

For more information about the VAB, call the Sarasota County Call Center at 941-861-5000 and ask for the Board Records office.

The State Plans To Deny Insurance Price Hikes

2008-08-06T16:49:00.002-05:00

Florida Insurance Commissioner Kevin McCarty announced yesterday that the state plans to reject Florida Farm Bureau insurance companies' request for an average 28 percent statewide property insurance rate increase. State Farm will defend its 47.1 percent increase request next week.

Read the full story: http://www.floridarealtors.org/NewsAndEvents/n2-080608.cfm.

Wow! For First-Time Homebuyers!!!!!!!!!!!!!

2008-08-01T14:18:00.004-05:00

A provision of the recently-passed federal housing recovery bill gives first-time buyers an interest-free loan of up to $7,500 in the form of an income tax credit. The benefit ends June 30, 2009.

Read the full story: http://www.floridarealtors.org/NewsAndEvents/n2-080108.cfm

Reasons why you should buy now: http://www.time2buysarasota.com/faq.html

One Less Lender

2008-07-23T05:50:00.001-05:00

Wachovia Corp., the fourth largest U.S. bank, said Monday that it is leaving the wholesale mortgage lending business. As of July 25, the bank giant will no longer offer mortgages through brokers.

Read the full story: http://www.floridarealtors.org/NewsAndEvents/n4-072208.cfm.

The New Affordable?

2008-07-22T07:03:00.000-05:00

Home sales trends may be shifting into a reverse commute. High gas prices are reordering some buyers' definition of affordable housing: the shorter the commute, the more affordable the house.

Read the full story: http://www.floridarealtors.org/NewsAndEvents/n3-072108.cfm.

Shoes For Kids Please

2008-07-15T22:35:00.000-05:00

My office, RE/MAX Alliance Group, is collecting new shoes for school kids to distribute in the Charlotte County Public school system. Sizes 4 youth and 6 adult are needed the most but we have requests for 7 toddlers up to 11 adult female and 13 adult male.

If you'd like to help out, drop the new shoes by our office on Webber and 41 or the ones located in Englewood and North Port--or email me at Christina@YourHometownConsultant.com and I'll pick them up and deliver them for you.

Possible Short Sale For $72,000

2008-07-15T06:36:00.005-05:00

Just listed for $72,000! Affordable for first-time homebuyers or rent as an investment.

Snatch up this cute and stylish 2 bed/1.5 bath condo before the bank does! Tucked away in Fairway Oaks which is only a few minutes to downtown and I-75. Hardwood floors, extra storage and washer and dryer on the inside. Owner says, "Layout feels like home."

For more details, visit: http://sar.mlxchange.com/Pub/EmailView.asp?r=1066832319&s=SAR&t=SAR.

Hype Or Harry Carry?

2008-07-14T20:46:00.002-05:00

If Fannie Mae and Freddie Mac collapsed, it would deal a blow to the mortgage market. But the federal government unveiled a broad program yesterday to bolster the troubled mortgage giants. Both companies said they were financially sound but grateful for the confidence-building efforts.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n1-071408.cfm

Foreclosure: Private Island For Sale

2008-07-14T10:46:00.004-05:00

I just found this listing. Very cool. Who doesn't want to own their own island?

1.4 Acre private island just west of Fort Myers on the Caloosahatchee River. Zoned for a single family residence but could be converted to a bed and breakfast or niche retreat resort. Percolation tests have been sucessfully completed. Two recent MAI appraisals came to $1.5 Million. Lenders loan came to $850,000. Lender/owner will hold to qualified buyers and/or discount to quick cash offers.

Live like Brangelina, Mel Gibson, Johnny Depp, Eddie Murphey, Nicolas Cage, Tim McGraw and Faith Hill, Gene Hackman, Robin Williams, Tony Curtis, Richard Branson, David Copperfield, Leonardo DiCaprio and Athena Onassis for only $850,000!

New Rules For Pricing A Home

2008-07-11T06:52:00.001-05:00

How do you price a home in this market? Pat Hiban of the Pat Hiban Real Estate Group in Ellicott City, Md., says comparables are irrelevant these days. “You want to price it less than the active competition,” he advises. He dismisses the notion that someone who is less eager to sell a home quickly can set the price a little higher. In this market, the lower price is “realistic,” Hiban says.

He suggests looking at the three most competitive active listings that the seller will be up against. If there are no real differences between those houses and your seller’s home, undercut the competition on price. If the house you’re trying to sell has something that the competition doesn’t — say a finished basement — then go with the same price.

Source: The Baltimore Sun, Jamie Smith Hopkins (12/14/07)

Free Inspections Still Available!

2008-07-10T14:53:00.003-05:00

The My Safe Florida Home program apparently has about 10,000 free hurricane inspections left up for grabs.

For more details on this program, see my prior blog post: http://yourhometownconsultant.blogspot.com/2008/06/free-hurricane-home-inspection.html.

Foreclosure Rates Finally Fall

2008-07-10T14:47:00.004-05:00

RealtyTrac just reported that the national foreclosure rate fell by 3% in May compared to April. This may not seem like much but I'm going to take it as a good sign.

For the full story, click here: http://www.floridarealtors.org/NewsAndEvents/n4-071008.cfm.

Free Lawyers To Fight Foreclosures!

2008-07-10T14:44:00.002-05:00

Florida homeowners facing foreclosure have access to a lawyer and free legal advice through a program offered by the Florida Bar and Florida Legal Services. An attorney will, at no charge, negotiate with a lender on behalf of a homeowner to help keep the home out of foreclosure.

Read the full story: http://www.floridarealtors.org/NewsAndEvents/n1-071008.cfm.

Source: Florida Association of Realtors

Free Trees!

2008-07-10T13:08:00.003-05:00

CITY SEEKS GREEN CANOPY PARTICIPANTS

Sarasota, FL: The City of Sarasota is looking for residents interested in participating in the Green Canopy Partnership Program. In the program, the City plants trees along the right-of-way of residents’ homes, as long as the residents pledge to water and care for the saplings until they take root. “It’s a true partnership between the City and residents. The City provides the trees and installation, and the residents agree to water them,” said Michele Mician, Sustainability Coordinator. There is no fee to participate in the program.

Since the program began in 2004, hundreds of trees have been purchased and planted by the City, then nurtured by residents. Recently, 31 crape myrtle trees were planted along 7th Street in Gillespie Park as part of the program. “We love them,” said Carmen Adcock, a resident who pledged to care for a tree. “We each have a tree in front of our house that we water according to the directions the City gave us,” said Adcock. Residents who participate in the program must sign a pledge sheet, agreeing to follow the watering guidelines given by City staff.

City of Sarasota arborists study a potential location and determine the right tree for that area. Available sunlight, overhead utility lines, and soil all play a role in determining what species is best suited in an area. Ultimately, the trees benefit the environment and residents’ property. “Trees give properties many value added benefits as well as helping the environment. Environmental benefits such as soil stabilization, increased wildlife habitat, and shade are just some of the valuable returns you can expect when you plant a tree,” said Mician.

The Green Canopy Partnership Program is funded through the Sarasota County penny surtax.
To have trees planted by autumn, residents must submit pledge forms by Fri., August 8, 2008. For more information on this unique program contact Neighborhood Services at 954-2612, or download a Green Canopy Partnership Program pledge form at npo.sarasotagov.com.

Source: http://www.sarasotagov.com/InsideCityGovernment/Content/CAC/Communications/Releases/Tree_canopy.htm

Updates To Public Policy

2008-07-10T08:45:00.004-05:00

The Sarasota Association of Realtors has updated our public policy. According to Marc Mansfield, our Governmental Affairs Director, we have "retained the overall philosophy" and "tweaked language" with regards to smart growth and sustainability in addition to other core policies we support.

To read the SAR's Public Policy, click here: http://www.sarasotarealtors.com/files/pdfdocuments/RevisedPolicyPositions0808062734453.pdf.

NEW! Green Home Insurance

2008-07-08T15:18:00.004-05:00

Commercial buildings have green insurance, and now at least one company says it will start to offer green insurance for residential property starting this summer, though it may not be available in Florida until later in the year. Fireman's Fund Insurance Company will launch green insurance for homeowners starting this summer.

The insurance is for homeowners who currently own a green home, or for those who wish to upgrade to green standards should the home be completely destroyed. Homeowners whose residences are already green will be offered a five percent discount on this coverage, applied to the homeowner premium. With green coverage, homeowners will be able to rebuild and replace with green alternatives such as:

• Energy Star(R)-rated appliances, lighting, electronic equipment and roofing/insulation
• An Energy Star upgrade of heating, ventilation and air-conditioning systems
• Forest Stewardship Council (www.fcsus.org) certified wood for millwork, ceilings, siding and framing, including bamboo flooring
• Non-toxic, low odor paints and carpeting
• Water-saving plumbing fixtures
• Elimination of ozone-depleting refrigerants and fire extinguishing agents, replaced with environmentally friendly alternatives
• Debris removed after damage to a home will be recycled and diverted from landfill

© 2008 FLORIDA ASSOCIATION OF REALTORS®

To Your Freedom!

2008-07-04T07:21:00.003-05:00

Banks To Cancel Loans?

2008-07-02T21:18:00.004-05:00

The 7th U.S. Circuit Court of Appeals is expected to rule sometime this month on a case that could force the U.S. banking industry to cancel or rescind loans if borrowers prove that their lenders violated a federal lending disclosure law.

The decisions stems from a lawsuit filed by a Wisconsin couple who last year sued their bank and sought class action status. The judge not only agreed to that but also ruled that borrowers could force the bank to rescind their loans as a class remedy.

Should the 7th U.S. Circuit Court of Appeals agree that rescission be a class remedy, banking industry analysts predict “confusion and market disruption” as banks curtail lending further.

“If class treatment is found to be available for rescission ... the result all over the country could be massive class suits,” says Christine Scheuneman, a partner at Pillsbury Winthrop Shaw Pittman LLP, which represented Chevy Chase Bank in the initial lawsuit.

Supporters of rescission as a remedy say the banking industry is overstating the results of such a ruling.Both sides agree that the U.S. Supreme Court will likely decide the case.

Source: Reuters News, Gina Keating (06/30/08)© Copyright 2008 INFORMATION, INC. Bethesda, MD (301) 215-4688

8 Tips For Sellers In A Buyer's Market

2008-07-02T07:13:00.003-05:00

It’s a buyer’s market, but sellers can increase the chance of a sale in today’s climate by working with a Realtor and considering these eight things.

Don’t count on open houses to sell your home. According to the California Association of Realtors, less than 5 percent of buyers find their home at an open house. An open house should never be the center of a prospective real estate agent’s marketing plan.
Target your marketing. Know what buyers in your area look for and emphasize your home’s appeal accordingly. This includes everything from the description (whether you highlight transportation and parks, or restaurants and nightlife) and how you stage the home (whether the third bedroom becomes an office), to where you advertise the listing (a newspaper in addition to online).
Tour similar homes in the area to better understand the competition – what a home sold for 12 months ago, or even six months ago, may not be a good estimate for today.
Consider staging your home. Although not always necessary, staging can make a difference in how your house is viewed and compared to others.
Offer prospective buyers a neighbor “reference” list. Make a list of your best, most reliable neighbors, so that buyers can reach out to get a better feel for the area, the locals, and what makes the neighborhood a truly unique place to live.
Photos posted online should be taken on a sunny day with a wide-angle lens. Approximately one-third of buyers who responded to a recent survey said they would eliminate homes they saw online if they had too few or poor quality photos.
Consider a pre-inspection to give you a selling edge. Include information about any repair work you’ve completed since you bought the home. If you don’t market your improvements, you won’t get as much return for them.
Once your house is on the market, accept feedback and tweak as necessary.

$5 Million For Affordable Housing!

2008-07-02T07:09:00.002-05:00

Florida Housing Finance Corporation released $5 million to the Homeownership Pool (HOP) Program yesterday. Created by the Florida Legislature 25 years ago to fund workforce housing, Florida Housing began the HOP Program to enable developers to match qualified homebuyers with help to purchase their properties. HOP operates on first-come-first-serve basis where developers apply online to reserve funds for eligible homebuyers.

Another $5 million is to be released in January 2009.

To learn more, visit http://www.floridahousing.org/Home/Developers/HomeownershipPrograms/HOP/.

Crist Vetos Homeowners Association Disclosure Bill

2008-07-01T07:01:00.003-05:00

More details to come.

Green Features on New MLS!

2008-07-01T06:12:00.006-05:00

The Sarasota Association of Realtors' Green Realtor Alliance of Sarasota committee was amazingly able to have 4 green feature options added to our new Mid-Florida Regional Multiple Listing Service system's listing form. This makes us one of a small handful of Realtor associations and multiple listing services in the country to offer green features (1) as a way to distinguish your home for sale and (2) as an option to look for in your home. Go Sarasota!

Check out our new listing form: http://www.mfrmls.com/uploads/MFRMLSresidential.pdf. The green features can be found on the bottom left corner of the first page. My contribution is the last option which I felt was important since a lot of homes have some green elements (energy efficient appliances, window upgrades, skylights, low impact yards that may not yet be Florida Certified, etc), especially considering that every little bit helps!

Thanks for all the hard work, GRAS!