January 2010

THE EXPANDED HOMEBUYER TAX CREDIT

Friday, January 8th, 2010 at 6:33pm. 225 Views, 0 Comments.

The Homebuyer Tax Credit has created a lot of buzz since becomming law and now the extended or Expanded Tax Credit could help to cure the winter blues for many first time home buyers.

Ken Trepeta the Director of Real Estate Services at RISMEDIA, the leader in real estate information systems, yesterday wrote a very informative article detailing the expanded home buyer tax credit. For those considering buying a home for the first time, it is well worth investigating, but time is of the essence because a binding contract must be written by 30 April, 2010 and it must be closed by 1 July, 2010.

The article can be found by clicking HERE.

SALES CONTINUE TO SURGE

Thursday, January 7th, 2010 at 6:52pm. 166 Views, 0 Comments.

The Fall sales Market Data Report showed a surge in sales from the same period one year ago that is continuing as we begin to get into 'high season'.

Overall pending sales showed an increase of over 100% again compared to the same period last year. Leading the way, as it has for many months was the $300,00 and under segment of the market. Yet from $300,000 to $500,000 sales increased by 150%. The available inventory showed a decrease of 14% and moved under the 10,000 level, something not seen in several years.

The market is driven by savy buyers moving back in, as well as the fact that the sellers realize that the only way that their properties will sell is if they aggresively price them at or below current market values.

To see the current Market Data…

MAKING FLORIDA YOUR DOMICILE

Sunday, January 3rd, 2010 at 8:40pm. 113 Views, 0 Comments.

Depending on the state you are from and if you own a second property in Naples, Florida, it might be well worth investigating the possibility of establishing your domicile in Florida for the purpose of reducing or totally eliminating income and estate taxes. Enhancing that position, the State of Florida has eliminated the Florida estate tax and repealed the intangible tax on stocks and bonds.

Retirees who have substantial securities portfolios have benefited from the 15% income tax on capital gains, as well as stock dividends. To contrast that, if you were living in the State of New York, both dividends and capital gains are subject to as high as a 7% income tax. The failure of a state like New York to give relief to its wealthier investors has forced many…

THE FORECLOSURE PROCESS: ALTERNATIVES AND CONSEQUENCES

Friday, January 1st, 2010 at 12:44pm. 232 Views, 0 Comments.

Will Dukes from our own Summit Mortgage Company here in Naples, sent an email around to real estate agents about foreclosures, short sales and deeds-in-lieu. His email included an article written by a prominent Naples attorney on the subject.

There has been much written about the three different subjects, and yet many of the buyers and sellers still know little about the process. As a realtor, I feel that the more we can help to educate the potential customers that are interested in the subject, the better off we will be.

The article will have blue highlighted areas that were added by Will Dukes.

You can view the articlke HERE.