Top 10 Reasons to Own rather than Rent

1. You own the property outright: With no landlord, you make the decisions.

2. You can deduct it: Mortgage interest, property taxes and some costs involved with buying a home can be deducted from federal income taxes.

3. Interest rates: The cost to borrow mortgage money is at an all-time low. If you’re going to buy, this is the time to jump into the market.

4. You invest in it: Rent money is gone forever. Mortgage payments build home equity ownership interests.

5. You save for the future: Home equity is a ready-made savings plan. Sell it and you can make up to $250,000 cash without owing any federal income tax on the profit.

6. You can predict expenses: Unlike rent, a fixed-mortgage payment doesn’t get more expensive over time.

7. You pick it: Choose from different neighborhoods, styles and price ranges.

8. You create it: Decorate, renovate, get a pet or paint the walls whatever color you want – it belongs to you.

9. You live in a neighborhood: You and your neighbors take pride in the local schools, roads and more – and you work together to build a friendly community.

10. You spend money on yourself: When you buy a chandelier or hardwood floor or kitchen cabinet, you’re spending hard-earned money on yourself and building your equity at the same time.

Ownership has emotional rewards, too!

The Met Warner Center (CA) compiled the above list.
This article is a reprint © 2011 Florida Realtors®
Link HERE to read the original article

Good News for Florida Home Owners/Buyers

A recent article in the St. Petersburg Times claims that Tampa Bay's existing home sales skyrocketed to levels not seen in nearly five years and average sale prices also rose in several area counties. This news would indicate that the housing market is healing from the faltering economy and an increase in foreclosed properties. "It's good news," said Mark Vitner, a senior economist with Wells Fargo. "It's a further indicator that the worst may be over. The (Tampa) bay area economy is modestly improving."

Read the "good news" of the entire article HERE

DON'T MISS OUT

Florida Realtors'

Open House Weekend

April 10-11th, 2010

Buy a home in Florida and take advantage of an $8000 tax credit direct from Uncle Sam!

Maureen Citerella Earns NAR Short Sales and Foreclosure Certification

I'm pleased to share this good news from a recently published press release:

Buyers and Sellers Benefit from REALTOR® Expertise in Distressed Sales

Seminole, Florida, 2/23/10 — MAUREEN CITARELLA with REALTY EXECUTIVES ADAMO has earned the nationally recognized Short Sales and Foreclosure Resource certification (or SFR). The National Association of REALTORS® (NAR) offers the SFR certification to realtors who want to help both buyers and sellers navigate these complicated type of transactions.

Short sales and foreclosures result when people cannot afford to keep their homes. According to a recent NAR survey, nearly one-third of all existing homes recently sold were categorized as short sales or foreclosures. Realtors who have earned the SFR certification know exactly how to help sellers maneuver the complexities of these types of sales, and they can also help buyers pursue short sale and foreclosure opportunities.

In order to achieve SRF certification a realtor must complete specific training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk. Realtors who have earned the SFR designation must stay current on national and state-specific information as the market for distressed property sales continues to evolve.

11 Good Reasons to List During the Holidays

1. People who look for a home during the Holidays are more serious buyers!

2. Serious buyers have fewer houses to choose from during the Holidays and less competition means more money for you!

3. Since the supply of listings will dramatically increase in January, there will be less demand for your particular home! Less demand means less money for you!

4. Houses show better when decorated for the Holidays!

5. Buyers are more emotional during the Holidays, so they are more likely to pay your price!

6. Buyers have more time to look for a home during the Holidays than they do during a working week!

7. Some people must buy before the end of the year for tax reasons!

8. January is traditionally the month for employees to begin new jobs. Since transferees cannot wait until Spring to buy, you must be on the market now to capture that market!

9. You can still be on the market, but you have the option to restrict showings during the six or seven days during the Holidays!

10. You can sell now for more money and we will provide for a delayed closing or extended occupancy until early next year!

11. By selling now, you may have an opportunity to be a non-contingent buyer during the Spring, when many more houses are on the market for less money! This will allow you to sell high and buy low!

Homebuyer Assistance Programs

On November 6, 2009, the President signed into law an extension and expansion of the $8,000 first-time homebuyer tax credit. Among other provisions, the extension adds money for certain move-up buyers (especially those who have lived in a house for five of the past seven years); creates one deadline for signing a contract and a later deadline for closing; changes income requirements (an increase from $75,000 (single) to $125,000; and from $150,000 (married) to $225,000); and also limits the cost of a purchased home to $800,000.

Florida Realtors® President (2009) Cynthia Shelton notes that extending the buyer tax credit and expanding it to reach more homebuyers is the right thing to do, “as it’s critical to maintaining positive momentum in the housing market and in the overall economy.”

Link HERE to read more specific details about the extension/expansion. Then call me, and we'll talk about how the provisions of this law can work to your best advantage.

10 Things Your Real Estate Broker Won't Say

A perspective client of mine from the NY-Metropolitan area is interested in relocating to Florida and sent me an article from Smart Money magazine, asking if the ten things outlined in the piece were true. Link HERE to read the article in its entirety and learn more.