Living Tampa Bay Real Estate Blog

Just Listed! 20120 INDIAN ROSEWOOD ROAD Tampa, FL 33647

March 5th, 2010 10:31 AM

$135,000.00
20120 INDIAN ROSEWOOD ROAD

Tampa, FL 33647

Beds: 3	Rooms: 0
Full Baths: 2	Sq. Ft.: 1772
Garage: 2	Built: 2006

MOVE IN IMMEDIATELY TO THIS IMMACULATE TOWNHOUSE IN THE DESIRABLE HAMMOCKS! BUILT IN 2008, WITH 3 BEDROOMS, 2.5 BATHS AND A 2 CAR GARAGE, THIS HOME IS BETTER THAN NEW! A PALM LINED WALK WELCOMES YOU INTO THE HOME, AND THE NEW SCREENED LANAI IN THE BACK IS JUST THE PLACE TO ENJOY NATURE IN THE PRESERVE BEYOND. PRIVACY ABOUNDS IN THIS HOME WITH NO REAR NEIGHBORS! INSIDE, THE KITCHEN FEATURES 42" CHERRY CABINETS, A BREAKFAST BAR AND UPGRADED LIGHTING. THE GREAT ROOM IS LARGE AND ACCOMMODATING FOR ENTERTAINING. THE LARGE MASTER BEDROOM SUITE IS DOWNSTAIRS WITH 2 LARGE CLOSETS, AND THE OTHER BEDROOMS ARE UPSTAIRS WITH A LOVELY BATH AND AN EXPANDED HALLWAY. THE GATED COMMUNITY IS SECURE AND THE 2 COMMUNITY POOLS, A RECREATION ROOM AND A FITNESS ROOM ALLOW FOR FUN. WITH A LIBERAL LEASING POLICY AND A PET FRIENDLY ENVIRONMENT, THIS TOWNHOME IS JUST THE PLACE TO ENJOY THE FLORIDA LIFESTYLE.

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Joanne and Bob Rudowski
Re/Max Realtec
7274188850
www.livingtampabay.com

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Posted by Joanne and Bob Rudowski on March 5th, 2010 10:31 AMPost a Comment (0)

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Just Listed! 2615 FALLSROCK DR Clearwater, FL 33761

March 5th, 2010 10:25 AM

$200,000.00
2615 FALLSROCK DR

Clearwater, FL 33761

Beds: 2	Rooms: 0
Full Baths: 2	Sq. Ft.: 1875
Garage: 0	Built: 1977

NESTLED IN THE DESIRABLE COMMUNITY OF NORTHWOOD ESTATES IS A GRACIOUS HOME WAITING FOR A NEW FAMILY! WITH 1875 SQ FT, 2 BEDROOMS, 2 BATHROOMS AND AN OVERSIZED 2 CAR GARAGE ON A NICE LARGE LOT, THIS HOME IS PERFECT. WITH FORMAL LIVING AND DINING ROOMS, ENTERTAINING IS A BREEZE. THE LARGE KITCHEN HAS A SKYLIGHT, A BREAKFAST BAR AND A BREAKFAST NOOK, AND IS OPEN TO A HUGE FAMILY ROOM WITH LOTS OF WINDOWS AND A SLIDER TO THE SCREENED LANAI. THE LANAI HAS A LARGE COVERED AREA AND AN OPEN SCREENED AREA FOR FAMILY PARTIES. ENJOY COOKING IN THE KITCHEN WHILE ENTERTAINING GUESTS OR WATCHING CHILDREN IN THE FAMILY ROOM. THE SPLIT BEDROOM PLAN AFFORDS PRIVACY AND SECURITY AND THE MASTER BEDROOM IS LARGE AND COMFY. THE REMODELED MASTER BATH IS A SANCTUARY WITH A CHERRY VANITY AND GRANITE COUNTERTOP. THE WALK IN MASTER CLOSET IS ACCESSIBLE AND LARGE. THE SECOND BEDROOM CAN BE A GUEST SUITE WITH EXTRA DOORS FOR PRIVACY FROM THE REST OF THE HOME. THE OVERSIZED GARAGE INCLUDES A LAUNDRY SINK AND CENTRAL VACUUM, AND THE SPRINKLERS ON THE WELL ARE VERY ECONOMICAL AND WILL KEEP YOUR LAWN GREEN ALL YEAR LONG. WITH NEW PAINT AND CARPET, THERE IS NOTHING TO DO BUT MOVE RIGHT IN!

This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google Earth satellite
images, and much more.

If you have any questions
about this property or
require more information,
please feel free to call.

Joanne and Bob Rudowski
Re/Max Realtec
7274188850
www.livingtampabay.com

Visit this listing here

Posted by Joanne and Bob Rudowski on March 5th, 2010 10:25 AMPost a Comment (0)

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Home-buyer tax credit still available!

January 12th, 2010 5:39 PM

Home-buyer tax credit still available

Congress has legislated an extension and enhancement of the Home-Buyer Tax Credit program. It now includes home purchases whose sale documents are signed on or before April 30, 2010, and which close by June 30, 2010

As before, first-time homebuyers (those who have not owned their personal residence at any time during the three years preceding the current home purchase) may receive a tax credit of either 10% of the home’s purchase price or $8,000, whichever is less. Single taxpayers can now earn up to $125,000, at which level the tax credit begins to phase out. (It was $75,000 in the earlier version.) Married couples can now earn up to $225,000 (up from $150,000). And there is a new upper limit of $800,000 for the home’s purchase price.

Perhaps the most striking change in the new legislation is the availability of a tax credit (either 10% of the purchase price or $6,500, whichever is less) for “move-up” homebuyers, defined as those who have owned their principal residence for a consecutive five of the eight years before purchasing a new one now.

Given the number of home sales the earlier program appears to have motivated, this new legislation may motivate many of your homebuyers and prove a boon to the real estate recovery. Please feel free to call me for further information at (727) 418-8850

Posted by Joanne and Bob Rudowski on January 12th, 2010 5:39 PMPost a Comment (0)

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OBAMA SIGNS BILL: HOMEBUYER TAX CREDIT EXTENDED

November 7th, 2009 8:36 AM

Homebuyer tax credit program extended

WASHINGTON – Nov. 6, 2009 – President Obama signed H.R. 3548 this morning, enacting into law an extension, and adjustment, of the $8,000 tax credit for first-time buyers. Among other things, the extension adds money for certain move-up buyers; creates one deadline for signing a contract and a later deadline for closing; changes income requirements; and limits a purchased home’s cost to $800,000.

“Extending the homebuyer tax credit and expanding it to reach more homebuyers is the right thing to do,” says 2009 Florida Realtors® President Cynthia Shelton. “It is critical to maintaining the positive momentum we’ve been experiencing in the housing market and in the overall economy. Florida Realtors applaud congressional leaders for taking action to extend the homebuyer tax credit into 2010, which will help Florida families realize their dream of homeownership, improve our communities and strengthen our economy.”

Adds John Sebree, Florida Realtors vice president of public policy, “Florida residents enjoy two additional advantages. The Florida Homebuyer Opportunity Program (FHOP), created by the Florida Legislature earlier this year, still has approximately $28 million that first-time homebuyers can access and use toward their downpayment. And move-up buyers now have the ability to ‘port’ their current property tax savings to a new home.”

First-time homebuyers

Most details for first-time homebuyers mirror the rules currently in existence. The maximum tax credit remains $8,000 ($4,000 for married individuals filing separately), and anyone who has not owned a home within three years is considered a “first-time buyer.”

• A purchase must be under contract by April 30, 2010.

• A purchase under contract by April 30 must close no later than June 30, 2010.

• After Dec. 1, 2009, income limits rise to $125,000 for singles and $225,000 for married couples; up from limits effective through Nov. 30 of $75,000 for singles and $150,000 for married couples. The tax credit phases out incrementally at each $20,000 increase in income.

• Effective immediately: The maximum home value purchased cannot exceed $800,000. Prior to the law being signed, first-time homebuyers had no limitation on a home’s cost.

Current homeowner tax credit

An existing homeowner who purchases a home may now claim a tax credit of up to $6,500. To qualify, that owner must have owned and used the same residence as a principal residence for any consecutive five-year period in the previous eight years.

• This new tax credit is effective immediately. Eligible homebuyers do not have to wait until Dec. 1 to close in order to qualify.

• Personal income limits, maximum home value, and contract/closing deadlines are the same as those for first-time homebuyers.

Long-time Florida homeowners who enjoy discounted property taxes resulting from the state’s Save Our Homes amendment qualify for property tax portability, notes Sebree. For more information or to calculate how much tax savings can be transferred to a new home, visit floridarealtors.org at: http://www.floridarealtors.org/LegislativeCenter/TopInitiatives/index.cfm

Florida Homebuyer Opportunity Program

Under FHOP, first-time Florida homebuyers can obtain interest-free bridge loans to access their federal tax credit before they complete a home purchase, enabling them to use that money upfront for downpayment and closing costs. Once buyers submit their returns to the IRS and receive their tax credit money, they repay their loans to the state.

The Florida Realtors-backed program came out of the 2009 session of the Florida Legislature. However, as part of the 2009-2010 budget year, did not become effective immediately. They tax credit extension will allow many first-time buyers to tap into the approximately $28 million in the program's remaining funds.

While funded by the state, the money is distributed through the city and county housing offices that operate the State Housing Initiatives Partnership (SHIP) program. There is no standardized program, and each local agency may operate under different rules for distribution. For more information, buyers should contact their local SHIP office.

To find a local SHIP office, go to: http://apps.floridahousing.org/StandAlone/FHFC_ECM/AppPage_SHIPLGContacts.aspx.

Additional changes

The tax credit extension includes other new rules, such as:

• The new law also impacts dependent purchases of homes, which weren’t addressed under the old rules.

• The new law requires a buyer to attach documentation about the home purchase to his or her income tax return. An audit found that some buyers are claiming the tax credit when they don’t deserve it, and investigators continue to seek out fraud. To minimize tax abuse going forward, buyers won’t receive the credit without submitting proof to the Internal Revenue Service (IRS).

The homebuyer tax credit is collected as part of the normal income tax process. As a credit, it’s calculated separately from an individual’s income tax, and paid regardless of taxes owed or withheld from income. As always, however, only a tax planner can render specific advice to anyone seeking the credit. For more information on the credit, contact a tax planner or visit the IRS website at: http://www.irs.gov.

Posted by Joanne and Bob Rudowski on November 7th, 2009 8:36 AMPost a Comment (0)

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Florida’s existing home, condo sales up in September 2009

October 26th, 2009 9:20 AM

ORLANDO, Fla. – Oct. 23, 2009

– Florida’s existing home sales rose in September, which marks more than a year (13 months) that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®. September’s statewide sales also increased over sales activity in August in both the existing home and existing condominium markets.

Existing home sales rose 34 percent last month with a total of 14,419 homes sold statewide compared to 10,778 homes sold in September 2008, according to Florida Realtors. Statewide existing home sales last month increased 4.1 percent over statewide sales activity in August.

Florida Realtors also reported a 77 percent increase in statewide sales of existing condos in September compared to the previous year’s sales figure; statewide existing condo sales last month rose 8.9 percent over the total units sold in August.

All of Florida’s metropolitan statistical areas (MSAs) reported increased existing home sales in September; all but one MSA also showed a gain in condo sales. A majority of the state’s MSAs have reported increased sales for 15 consecutive months.

Interest rates for a 30-year fixed-rate mortgage averaged 5.06 percent last month, a significant drop from the average rate of 6.04 percent in September 2008, according to Freddie Mac. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.

Thank You To The Florida Association Of Realtors.

Posted by Joanne and Bob Rudowski on October 26th, 2009 9:20 AMPost a Comment (0)

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Mortgage Applications Rise as Rates Fall

October 7th, 2009 2:31 PM

Mortgage applications increased last week as mortgage rates declined for the third straight week.

The Mortgage Bankers Association weekly index rose 16.4 percent on a seasonally adjusted basis compared to the previous week. And was up 38.4 percent compared to the same week last year.

The unadjusted purchase index increased 12.9 percent compared to the previous week and was 2.2 percent lower than it was a year ago.

The refinance index increased 18.2 percent and was at its highest level since mid-May.

Thirty- and 15-year mortgage rates were well below 5 percent:

30-year fixed-rate mortgages decreased to 4.89 percent from 4.94 percent.
15-year fixed-rate mortgages decreased to 4.32 percent from 4.34 percent.
1-year ARMs increased to 6.56 percent from 6.40 percent.

Posted by Joanne and Bob Rudowski on October 7th, 2009 2:31 PMPost a Comment (0)

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Mortgage Rates Dip Below 5 Percent

October 2nd, 2009 2:56 PM

Never A Better Time To Buy!!

Oct. 2, 2009 – Rates on 30-year home loans dropped below 5 percent for the first time in four months, but still remained above this year’s record low, Freddie Mac said Thursday.

The average rate on a 30-year fixed mortgage was 4.94 percent, down from 5.04 percent last week, Freddie Mac said. The last time the 30-year home loan averaged less than 5 percent was the week ending May 28, when it was 4.91 percent.

Rates hit a record low of 4.78 percent hit in the spring, and remain appealing for people interested in buying a home or refinancing.

On Thursday, the National Association of Realtors said the number of signed sales contracts rose for the seventh straight month in August, as homebuyers rushed to take advantage of a tax credit for first-time owners that expires in November.

“Low mortgage rates are helping to stabilize home sales,” said Frank Nothaft, Freddie Mac’s chief economist.

But borrowers may want to consider the Federal Reserve’s announcement last week that it is slowing down a program intended to lower mortgage rates and boost the housing market. Analysts say mortgage rates should remain low for now but could eventually move higher, and homeowners who want to refinance mortgages shouldn’t delay.

Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day.

The average rate on a 15-year fixed mortgage fell to 4.36 percent from 4.46 percent last week, according to Freddie Mac. This week’s rate on 15-year mortgages was the lowest since Freddie Mac started tracking it in 1991.

Rates on five-year, adjustable-rate mortgages averaged 4.42 percent, down from 4.51 percent a week earlier. Rates on one-year, adjustable-rate mortgages fell to 4.49 percent from 4.52 percent last week.

The rates do not include add-on fees known as points. The nationwide fee for loans in Freddie Mac’s survey averaged 0.7 point for 30-year mortgages, and 0.6 point for 15-year and five-year loans. The fee averaged 0.5 point for one-year mortgages.

Posted by Joanne and Bob Rudowski on October 2nd, 2009 2:56 PMPost a Comment (0)

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Florida’s consumer confidence rises as economic fears ease

September 30th, 2009 2:34 PM

GAINESVILLE, Fla. – Sept. 30, 2009 – Belief that a national economic recovery is under way boosted Florida’s consumer confidence three points to 74 in September, according to a new University of Florida survey.

“I think Florida consumers are buying into the argument that the worst of the recession is over and we have avoided a complete meltdown,” says Chris McCarty, survey director of UF’s Bureau of Economic and Business Research. “Once again, they have surprised us with a higher-than-expected index.”

This month’s three-point rise follows a four-point revised increase in August. Of the five components that make up September’s index, three rose, one declined and one was unchanged. Perceptions of personal finances now compared with a year ago remained unchanged at 44, only five points above its all-time low of 39 in December. Expectations about personal finances a year from now fell three points to 81.

In contrast, perceptions of U.S. economic conditions over the next year rose three points to 75, while expectations about economic conditions over the next five years rose five points to 86. Perceptions of whether it is a good time to buy big-ticket items, such as appliances and cars, rose nine points to 84.

“It is worth noting that the two index components that gauge perceptions of personal finances both now and in the future are flat or down,” McCarty says. “All of the increase is in perceptions of future economic conditions, and in the perception that if you have the money, it’s a good time to buy.”

There are some signs that the economy is improving, he says.

Once again, the median price of a single-family home is virtually flat compared with the previous month, and up for the year, suggesting that housing prices in many areas of Florida have bottomed out, McCarty says. Although foreclosures are still high, the rate seems to be declining.

In other good news, inflation and, in particular, gas prices remain low overall compared with a year ago, McCarty says. In the past few years, gas prices have dominated the consumer confidence index. In addition, the stock market is still up for the year and at least for now appears stable.

“On the negative side, unemployment remains at 10.7 percent for Florida,” McCarty says. “This number is not expected to improve much until next year, and it could still get worse. Florida lost population this past year and could do so again as the underlying problems that prevent people from moving are still in place.”

Tourisms both domestically and internationally also are down as consumers trim discretionary spending, McCarty said. Programs such as Cash for Clunkers at least temporarily lifted retail sales, but sales tax revenues in Florida have dropped 10 percent from a year ago.

“In the near term, we expect consumer confidence to decline at least a point or two as the holiday season nears and stimulus programs like Cash for Clunkers and rebates for first-time home buyers expire,” he says. “The discussion about health care reform will be at center stage this fall, and may affect confidence if the plans involve increased payments from the middle class.”

Also of economic concern is that, at some point, extended unemployment benefits will run out, putting more pressure on the unemployed. In the long term, consumers need to be prepared for the inevitable drawing back of stimulus money from the economy, McCarty says.

The U.S. government effectively printed money to avoid a depression, and at some point most of the money will have to be withdrawn from the economy to avoid inflation and a very weak dollar, McCarty says. When that happens, interest rates will rise dramatically.

“We also have to think about how the Florida economy will adjust moving forward,” he says. “It is likely that discussions about off-shore drilling will receive much more attention as Florida looks for industries to replace those dependent on population growth.”

The research center conducts the Florida Consumer Attitude Survey monthly. Respondents are 18 or older and live in households telephoned randomly. The preliminary index for September was conducted from 412 responses. The index is benchmarked to 1966, so a value of 100 represents the same level of confidence for that year.

© 2009 Florida Realtors®

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ATTENTION FIRST TIME HOME BUYERS!!!

September 17th, 2009 3:31 PM

White House may extend homebuyer tax credit!

WASHINGTON – Sept. 17, 2009 – The White House is considering extending an $8,000 tax credit for first-time homebuyers.

Spokesman Robert Gibbs says the administration’s economic team is evaluating the tax credit’s impact on new home sales and will make a recommendation to the president.

The federal tax credit covers up to 10 percent of the home price, or up to $8,000, for first-time buyers. Home sales must be complete by the end of November.

The tax break is credited with helping the number of U.S. home sales rise slowly. Builders and real estate agents say that trend could be reversed if the credit isn’t extended.

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Pending home sales on a record roll

September 1st, 2009 4:16 PM

Pending home sales on a record roll

WASHINGTON – Sept. 1, 2009 – Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors® (NAR).

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, increased 3.2 percent to 97.6 from a reading of 94.6 in June. It’s also 12.0 percent higher than July 2008 when it was at 87.1. The index is at its highest level since June 2007.

Lawrence Yun, NAR chief economist, says housing market momentum has clearly turned for the better. “The recovery is broad-based across many parts of the country. Housing affordability has been at record highs this year with the added stimulus of a first-time buyer tax credit.

“Other buyers are taking advantage of low home values before prices turn higher,” Yun says. “Nationally, the typical mortgage payment now takes less than 25 percent of a middle-income family’s monthly income to buy a median priced home, with payment percentages so far in 2009 being the lowest on record dating back to 1970. As long as home buyers stay within their budget, mortgage payments will be very manageable.”

NAR estimates that about 1.8 to 2.0 million first-time buyers will take advantage of the $8,000 tax credit this year, with approximately 350,000 additional sales that would not have taken place without the credit. Buyers have little time to act because they must complete the transaction by Nov. 30 to qualify for the credit. Unless extended, contracts signed but not completed by that date will not be eligible – it is taking approximately two months to complete home sales in the current market.

The Pending Home Sales Index in the Northeast declined 3.0 percent to 78.8 in July but is 4.7 percent higher than July 2008. In the Midwest, the index slipped 2.0 percent to 88.1 but is 8.1 percent above a year ago. In the South, pending home sales activity rose 3.1 percent to an index of 103.8 in July and is 12.0 percent above July 2008. In the West the index jumped 12.1 percent to 112.5 and is 20.0 percent above a year ago.

NAR President Charles McMillan says Congress needs to keep the momentum going. “Even with a good recovery taking place, the market is not yet back to normal. With a gradual absorption of inventory, we are on the cusp of a general stabilization in home prices,” he says. “To ensure that housing has a broad stimulus to the overall economy and stays on sound footing, we’re encouraging Congress to extend the tax credit into 2010, and to expand it to all buyers of primary residences. The faster we stabilize home prices, the fewer families will face foreclosure and the quicker the credit can be extended to other sectors of the economy.”

NAR’s Housing Affordability Index (HAI) stood at 158.5 in July – below the peak set in April but still 36.0 percentage points higher than a year ago. The HAI is a broad measure of housing affordability using consistent values and assumptions over time, which examines the relationship between home prices, mortgage interest rates and family income.

Yun expects existing-home sales to rise through the fourth quarter. “Unless the tax credit is extended, no one should be surprised to see home sales drop in the first quarter of next year,” he said. “However, the fundamentals of the housing market and the economy are trending up, and we expect home sales to generally pick up in the second quarter of 2010. The buyer psychology may be shifting from, ‘Why buy now when I can purchase later,’ to ‘I don’t want to miss out on a recovery.’”

© 2009 FLORIDA ASSOCIATION OF REALTORS®

Posted by Joanne and Bob Rudowski on September 1st, 2009 4:16 PMPost a Comment (0)

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