Florida's existing home sales rose 20 percent in February - the sixth consecutive month that sales activity showed increases in the year-to-year comparison, according to FAR. Statewide sales of existing condos increased 15 percent last month compared to the previous year; and February's statewide sales also were higher than January's figures in both the existing home and existing condo markets.
Florida’s median sales price for existing homes last month was $141,900; a year ago, it was $199,300 for a 29 percent decrease.
Interest rates for a 30-year fixed-rate mortgage averaged 5.13 percent last month, down significantly from the average rate of 5.92 percent in February 2008, according to Freddie Mac. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.
visit: http://www.floridarealtors.org/NewsAndEvents/n1-032309.cfm
Mar 24, 2009
Mar 17, 2009
Char McPherson, Your First Choice in Real Estate
a member of the Century 21 LIST with Beggins Team
Before deciding which company to choose when buying or selling your home, consider these facts:
Century 21 is the franchisor of the world's largest residential real estate sales organization helping families and communities around the globe.
- More than 8,400 offices worldwide
- More than 4,000 offices in the U.S.
With so many offices, any home for sale, gets greater Exposure. With more exposure comes increased sales opportunities. Isn't that what You want?
List your property with the company that will get it SOLD! Call Char today for YOUR free consultation.
Char McPherson, YOUR Realtor
Century 21 LIST with Beggins
813-841-2382
Mar 4, 2009
First Time Home Buyer Credit
As you may have heard, significant improvements in the temporary First-Time Homebuyer Tax Credit were signed into law on Feb. 17 as part of the American Recovery and Reinvestment Act of 2009 to provide a housing stimulus for first-time home purchases that occur between Jan. 1 and Dec. 1, 2009. This is even better news for first-time homebuyers than the tax credit announced in April 2008 because not only has the tax credit maximum increased from $7,500 to $8,000 – but more significantly – it does not need to be repaid unless the individual re-sells the home within three years. There are several notable points about this federal income tax credit They are:
•Credit maximum was increased from $7,500 to $8,000. The credit is calculated as 10% of the purchase price. Example: If the purchase price is $70,000, the credit is $7,000.
•Removed the repayment requirement, provided the homebuyer does not resell the home for three years.
•Eligibility remains for first-time homebuyers only. In this case, a first-time homebuyer is defined as an individual who has not owned a primary home at any time during the three years prior to purchase, but who may have done so prior to that time. Although certain income limits do apply, the amount of the credit is the same for all taxpayers, married or single.
•To be eligible for the full tax credit, the homebuyer can have an annual adjusted gross income of no more than $75,000 ($150,000 on a joint return). A homebuyer with an annual adjusted gross income above that level and up to $95,000 ($170,000 on a joint return) is eligible for a reduced tax credit.
•The tax credit can be claimed on one’s individual or joint tax return for the purchase of any single-family home between Jan. 1, 2009 and Dec. 1, 2009. It can be claimed on a 2008 tax return (to be filed by April 15, 2009), an amended 2008 tax return, or a 2009 tax return. Individuals should consult a professional tax advisor for exact tax calculations and timing.
Be sure to note that you are not a tax or legal professional, and of course encourage homebuyers to use their own advisors.
Keep in mind that this tax credit is retroactive.
Contact Char with questions 813.841.2382
•Credit maximum was increased from $7,500 to $8,000. The credit is calculated as 10% of the purchase price. Example: If the purchase price is $70,000, the credit is $7,000.
•Removed the repayment requirement, provided the homebuyer does not resell the home for three years.
•Eligibility remains for first-time homebuyers only. In this case, a first-time homebuyer is defined as an individual who has not owned a primary home at any time during the three years prior to purchase, but who may have done so prior to that time. Although certain income limits do apply, the amount of the credit is the same for all taxpayers, married or single.
•To be eligible for the full tax credit, the homebuyer can have an annual adjusted gross income of no more than $75,000 ($150,000 on a joint return). A homebuyer with an annual adjusted gross income above that level and up to $95,000 ($170,000 on a joint return) is eligible for a reduced tax credit.
•The tax credit can be claimed on one’s individual or joint tax return for the purchase of any single-family home between Jan. 1, 2009 and Dec. 1, 2009. It can be claimed on a 2008 tax return (to be filed by April 15, 2009), an amended 2008 tax return, or a 2009 tax return. Individuals should consult a professional tax advisor for exact tax calculations and timing.
Be sure to note that you are not a tax or legal professional, and of course encourage homebuyers to use their own advisors.
Keep in mind that this tax credit is retroactive.
Contact Char with questions 813.841.2382
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