Fishhawk Ranch Real Estate

Home buyers tax credit revised Dec 2009

sandra@tbhousefinder.com (TampaHouseFinder) — Tue, 22 Dec 2009 13:38:00 GMT

TAX CREDIT OVERVIEW

Who Gets What?
First-Time Homebuyers (FTHBs): First-time homebuyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000.

Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

Current Owners: The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.

Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

What are the New Deadlines?
In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.

What are the Income Caps?
The amount of income someone can earn and qualify for the full amount of the credit has been increased.
Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible

Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.

What is the Maximum Purchase Price?
Qualifying buyers may purchase a property with a maximum sale price of $800,000.

What is a Tax Credit?
A tax credit is a direct reduction in tax liability owed by an individual to the Internal Revenue Service (IRS). In the event no taxes are owed, the IRS will issue a check for the amount of the tax credit an individual is owed. Unlike the tax credit that existed in 2008, this credit does not require repayment unless the home, at any time in the first 36 months of ownership, is no longer an individual’s primary residence.

How Much are First-Time Homebuyers (FTH Eligible to Receive?
An eligible homebuyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home. If the amount of the home purchased is $75,000, the maximum amount the credit can be is $7,500. If the amount of the home purchased is $100,000, the amount of the credit may not exceed $8,000.

Who is Eligible fort FTHB Tax Credit?
Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible.

This applies both to single taxpayers and married couples. In the case where there is a married couple, if either spouse has owned a primary residence in the last 36 months, neither would qualify. In the case where an individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible.

As mentioned above, the tax credit has been expanded so that existing homeowners who have owned and occupied a primary residence for a period of five consecutive years during the last eight years are now eligible for a tax credit of up to $6,500.

How Much are Current Home Owners Eligible to Receive?
The tax credit program includes a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.

Can Homebuyers Claim the Tax Credit in Advance of Purchasing a Property?
No. The IRS has recently begun prosecuting people who have claimed credits where a purchase had not taken place.

Can a Taxpayer Claim a Credit if the Property is Purchased from a Seller with Seller Financing and the Seller Retains Title to the Property?
Yes. In situations where the buyer purchases the property, even though the seller retains legal title, the taxpayer may file for the credit. Some examples of this would include a land contract or a contract for deed.

According to the IRS, factors that would demonstrate the ownership of the property would include:
1. Right of possession,
2. Right to obtain legal title upon full payment of the purchase price,
3. Right to construct improvements,
4. Obligation to pay property taxes,
5. Risk of loss,
6. Responsibility to insure the property, and
7. Duty to maintain the property.

Are There Other Restrictions to Taking the FTHB Credit?
Yes. According to the IRS, if any of the following describe a homebuyer’s situation, a credit would not be due:

They buy the home from a close relative. This includes a spouse, parent, grandparent, child or grandchild. (Please see the question below for details regarding purchases from “step-relatives.”)
They do not use the home as your principal residence.
They sell their home before the end of the year.
They are a nonresident alien.
They are, or were, eligible to claim the District of Columbia first-time homebuyer credit for any taxable year. (This does not apply for a home purchased in 2009.)
Their home financing comes from tax-exempt mortgage revenue bonds. (This does not apply for a home purchased in 2009.)
They owned a principal residence at any time during the three years prior to the date of purchase of your new home. For example, if you bought a home on July 1, 2008, you cannot take the credit for that home if you owned, or had an ownership interest in, another principal residence at any time from July 2, 2005, through July 1, 2008.

Can Homebuyers Purchase a Home from a Step-Relative and Still be Eligible for the Credit?
Yes. As long as the person they buy the home from is not a direct blood relative, the purchase would be allowed.

If a Parent (Who Will Not Live In The Property) Cosigns for a Mortgage, Will Their Child Still be Eligible for the Credit?

Yes, provided that the child meets the other requirements for the tax credit.

As always, this information is provided as a guide. Please consult your accountant or attorney for financial and legal matters.

FHA proposed changes coming soon

sandra@tbhousefinder.com (TampaHouseFinder) — Mon, 14 Dec 2009 13:31:00 GMT

Proposed changes or new guidelines for FHA announced by Donovan on December 2, 2009 include:

-- HUD will increase "up front" cash required on a home purchase, giving the buyer more "skin-in-the-game." FHA said it can tap several options, and analysts say it will mean some increase to the current minimum down payment of 3.5 percent.

-- HUD might increase the 1.75 percent up-front premium and/or annual mortgage premiums. It is asking Congress to raise annual premiums since that would raise capital with the lowest borrower impact, Donovan said.

-- HUD cut allowable seller concessions to 3 percent from 6 percent in a move to limit incentives to inflate appraised values. The move reduces the money the seller can contribute to a buyer's closing costs, discount points and other concessions without impacting the buyer's mortgage.

-- The FHA will raise the minimum credit score for new borrowers. The FHA has yet to determine the minimum "FICO" and may factor in the down payment.

FishHawk Ranch Home Inventory Decline

sandra@tbhousefinder.com (TampaHouseFinder) — Fri, 17 Jul 2009 12:30:00 GMT

FishHawk Ranch home inventory continues to decline. We started with 157 homes active on the market in January 2009 and now down to 128 as of July 17, 2009. This is good news for sellers in the real estate market. As inventory declines, prices will start to hold steady since buyers have less to choose from.

16813 Harrierridge

sandra@tbhousefinder.com (TampaHouseFinder) — Thu, 28 May 2009 10:25:00 GMT

Call Sandra for more information 813.690.4125

FishHawk Ranch Real estate market report for May 2009

sandra@tbhousefinder.com (TampaHouseFinder) — Fri, 22 May 2009 15:11:00 GMT

FishHawk Ranch Real estate market report for May 2009

Click Here to View FishHawk Report as PDF

Short Sale Seminar FishHawk Ranch

sandra@tbhousefinder.com (TampaHouseFinder) — Tue, 28 Apr 2009 13:11:00 GMT

Short Sale and Foreclosure Seminar: How to Buy and Sell in this Real Estate Market

Thursday, June 11, 2009 6:30 pm
Doors open at 6:00. Limited Seating.
Palmetto Club at FishHawk Ranch

Craig Beggins, President of Century 21 Beggins Enterprises, speaks frankly about the benefits and/or difficulties of buying a home or selling a home as a short sale. Buyers learn how to get the best deal and what to expect during the process and what happens behind the scenes. Sellers learn how to minimize credit damage by selling as a short sale to avoid foreclosure.

Print this Guest Pass for admission to the FREE seminar. Seminar Guest Pass

Buy Investment Property with Self Directed IRA

sandra@tbhousefinder.com (TampaHouseFinder) — Tue, 28 Apr 2009 13:02:00 GMT

Now is the time to buy investment homes, right? But you don't have the cash to do it...or do you?

If you have an IRA, you may be in luck! You can Self Direct your IRA investment into a property! Here some info on how it works...

Investors Turn to Self-Directed IRAs | RISMedia
How to Tap Your Retirement Assets to Achieve Real Estate Dreams | RISMedia
Investors Use Their IRAs to Make Home Loans | RISMedia

Realtor.com Property Views Increase

sandra@tbhousefinder.com (TampaHouseFinder) — Sat, 28 Mar 2009 16:07:00 GMT

Realtor.com Property Views Increase

Here is a viewing report from one of our listings. The increase in activity is showing up on all of the listings. Looks like the buyers are coming out! Each bar represents the number of views for one week.

First Time Home Buyer Credit

sandra@tbhousefinder.com (TampaHouseFinder) — Sat, 28 Mar 2009 15:56:00 GMT

First Time Home Buyer Credit

The American Recovery and Reinvestment Act of 2009 expands the first-time homebuyer credit to include purchases made before Dec. 1, 2009.

The IRS announced Feb. 25 that for first time home buyers who purchase in 2009, the maximum credit is $8,000 and can be claimed on a buyer's 2008 federal tax return. If the home purchase closes after April 15, a taxpayer can still claim the credit on a 2008 tax return by requesting an extension of time to file or filing an amended return. News release 2009-27 has more details on these options.

For first-time homebuyers who bought in 2008, the maximum credit is $7,500 and must be paid back over a period of 15 years.

FishHawk Ranch Market Report March 2009

sandra@tbhousefinder.com (TampaHouseFinder) — Sat, 28 Mar 2009 15:43:00 GMT

FishHawk Ranch Market Report March 2009

Home sales in Hillsborough County

sandra@tbhousefinder.com (TampaHouseFinder) — Wed, 25 Feb 2009 14:12:00 GMT

What is this number?
5837
The number homes sold in Hillsborough County in the last 6 months!

Are you going to miss the bottom of the market? It can only be seen on the way back up!

The perfect calm for home sales

sandra@tbhousefinder.com (TampaHouseFinder) — Thu, 05 Feb 2009 18:08:00 GMT

The St. Pete Times interviewed our Broker, Craig Beggins this week. Craig explains that this home market is now the perfect calm with low interest rates, low home prices, and an abundance to choose from for buyers.

See more here: http://www.tampabay.com/news/business/realestate/article972114.ece

$7500 Tax Credit for First Time Home Buyers

sandra@tbhousefinder.com (TampaHouseFinder) — Sun, 01 Feb 2009 18:29:00 GMT

Looks like there may be some good news about the $7500 Tax Credit. The tax credit was originally designed to be an interest only loan paid back to the government over the next 15 years; however, a change is in store.

The stimulus plan, to be voted on some time next week, proposes that the tax credit not be a loan but a straight forward credit for first time home buyers (not owning a home in the last 3 years).

CNNMoney.com has more to say about it here: $7500 Tax Credit for First Time Home Buyers

Short Sale Seminar a Success

sandra@tbhousefinder.com (TampaHouseFinder) — Fri, 30 Jan 2009 17:46:00 GMT

We had a great turn out Thursday night for the Short Sale Seminar that we held at the Palmetto Club in FishHawk Ranch. 34 guests arrived even though it was a rainy evening. Craig Beggins, the Century 21 Beggins Broker, brought along Peter Cafik to speak. A lot of information was given about buying or selling as a short sale and how the process works.

We look forward to having another seminar in the next few months!

If you attended, please let us know how we did in the comment section below. Thanks!

Tanagerlake Gem - FishHawk Ranch

sandra@tbhousefinder.com (TampaHouseFinder) — Fri, 30 Jan 2009 12:42:00 GMT

Sandra Grenier | Century 21 Beggins | 813-690-4125

Tanagerlake, Riverview, FL

Wow! This home is a gem!

3BR/2BA Single Family House

offered at $124,000

Year Built	2004
Sq Footage	1,536
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	1
Parking	2 Car garage
Lot Size	5,000 sqft
HOA/Maint	$0 per month

DESCRIPTION

This Beautiful Cardel Home has 3 bedrooms, 2 full baths and a den. Recently painted inside and out. All tile floors except bedrooms, which have new high grade carpet and padding. His and hers sinks in master bath and walk-in closet. Kitchen has a snack bar, like-new appliances that stay, including microwave and new dishwasher. Stove and water heater is natural gas. Also has security system, pest control tubing in walls, all window treatments and portable storage shed. Grill out on a beautiful 12 x12 octagon deck with a privacy fenced back yard. This home has been meticulously maintained. This beautiful home in FishHawk Ranch has parks for kids to play, aquatic centers, 3 community pools, b-ball & tennis, neighborhood shops & restaurants, skate b oard parks, top rated schools, & miles of paved nature trails. WATCH VIRTUAL TOUR to see more photos and FishHawk Ranch amenities.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	High/Vaulted ceiling
Walk-in closet	Tile floor	Family room
Office/Den	Breakfast nook	Dishwasher
Refrigerator	Stove/Oven	Microwave
Washer	Dryer	Laundry area - inside

COMMUNITY FEATURES

Garage parking	Clubhouse	Fitness center
Swimming pool(s)	Tennis court(s)	Playground

OTHER SPECIAL FEATURES

Separate laundry room

ADDITIONAL PHOTOS

Seller contact info:

Sandra Grenier

Century 21 Beggins

813-690-4125

For sale by agent/broker

Equal Opportunity Housing

Posted: Jan 30, 2009, 4:37am PST

New Schools for FishHawk Area

sandra@tbhousefinder.com (TampaHouseFinder) — Sun, 04 Jan 2009 15:40:00 GMT

Construction is currently under way on the South side of FishHawk Boulevard between Bell Shoals Rd. and the FishHawk Ranch community. This area, formerly planned as a community called Lake Hutto, is now being developed by Newland Communities as Circa FishHawk.

There you will find roadways to two new schools scheduled to open in August 2009, Stowers Elementary and Barrington Middle.

Attendance boundary lines for the schools are in the process of being drawn and approved. FishHawk Ranch residents are concerned about the boundaries effecting some of the homes in the community.

A public meeting to discuss boundaries has been scheduled for Wednesday, January 14, at 6:30 p.m. in the multi-media room at Randall Middle School.

Real Estate Rescue Seminar - Buying and Selling a Short Sale

sandra@tbhousefinder.com (TampaHouseFinder) — Sat, 03 Jan 2009 13:27:00 GMT

Short Sale Seminar
Thursday, January 29, 2009 6:30 pm
Palmetto Club at FishHawk Ranch

Craig Beggins, President of Century 21 Beggins Enterprises, speaks frankly about the benefits and/or difficulties of buying a home or selling a home as a short sale. Buyers learn how to get the best deal and what to expect during the process and what happens behind the scenes. Sellers learn how to minimize credit damage by selling as a short sale to avoid foreclosure.

Print this Guest Pass for admission to the FREE seminar. Short Sale Seminar

Rental Facilities for Events at FishHawk Ranch

sandra@tbhousefinder.com (TampaHouseFinder) — Tue, 09 Dec 2008 11:58:00 GMT

Hawk Park Club House
Address: 5702 Hawk Park Blvd.
Capacity: 25
Fees:* $50 / 12pm to 5pm, $100 / 6pm to 11pm, additional $100 if alcohol is served**, $200 deposit

2 Six foot round tables, 10 Chairs, Wide screen television, DVD Player, Cable TV, Refrigerator, Microwave, and Oven.

Osprey Club Gathering Room
Address: 5721 Osprey Ridge Drive
Capacity: 67
Fees:* $75 / 12pm to 5pm, $125 / 6pm to 11pm, additional $100 if alcohol is served**, $200 deposit

6 Five foot round tables, 2 Sic foot banquet tables, 35 chairs, Full size refrigerator, Microwave, Oven, Dishwasher, TV and VCR.

Osprey Club Theater
Address: 5721 Osprey Ridge Drive
Fees:* $75 / 12pm to 5pm, $125 / 6pm to 11pm, additional $100 if alcohol is served**, $200 deposit

Osprey Club Gathering Room & Theater
Address: 5721 Osprey Ridge Drive
Fees:* $100 / 12pm to 5pm, $175 / 6pm to 11pm, additional $100 if alcohol is served**, $200 deposit

Aquatic Club
Address: 6930 Osprey Ridge Drive
Capacity: 90
Fees:* $100 / 12pm to 5pm, $150 / 6pm to 11pm, additional $100 if alcohol is served**, $200 deposit

Large open room with Cathedral Ceilings and view of waterfall from veranda.
12 square 4 foot x 4 foot tables, 2 Six foot Banquet Tables, 48 Chairs, Microwave, Full Size refrigerator, CD / FM Radio system

Rental Provisions

Rental fee and deposit due within 48 hours of scheduling.
Renter must be FishHawk Ranch resident and must be present at all time during event.
Renter is responsible for the conduct of guests and adhere to all FishHawk Ranch facility guidelines.
Set up and tear down time is included in the contractual rental time. Do not arrive earlier than your start time.
Renter supplies all kitchen and party items. FishHawk Ranch provides cleaning supplies and trash bags.
Renter is responsible for clean-up and trash removal.
Daylight rentals include use of pool, weather permitting. Renter must supervise their in-pool guests and comply with all pool regulations.
Wet bathing suits are not permitted in any FishHawk Ranch facility.
No glitter or confetti.

Rental Information for the Clubs at FishHawk Ranch

5721 Osprey Ridge Drive
Lithia, FL 33546
813-654-6360

Monday - Friday 9 - 5
Saturday 12 - 5

*Fees as of December 2008 are subject to change.
**Staff member required to be on site for all alcohol related functions.

Hair Stylists

sandra@tbhousefinder.com (TampaHouseFinder) — Wed, 03 Dec 2008 12:41:00 GMT

Debbie Harris
Master Colorist / Stylist

New Image Salon
9407 US Hwy 301 S.
Riverview, FL 33569

813-453-0430
DHarris134@tampabay.rr.com

Selling Your Home As A Short Sale

sandra@tbhousefinder.com (TampaHouseFinder) — Wed, 19 Nov 2008 16:08:00 GMT

Selling Your Home As A Short Sale

Anyone who reads the paper or watches the news knows that declining real estate values and tough economic times have created severe hardships for many people in the market areas that we serve. This has become very clear in that huge portions of our listing inventory are Short Sale Listings. The rapid expansion of Short Sale Listings and many scams and bogus operations sprouting up that promise to provide a magic pill to solve these problems has forced us to create a Tampa Bay system to manage the short sale process and protect our customers. There is no magic pill. Short Sales take more time, are more complicated and take longer to close than properties with equity. Over the past year or so, we have learned the core factors in getting Short Sales approved and I’d like to give you a brief overview of the system we’ve implemented.

CENTURY 21 Beggins Enterprises has teamed up with United Settlement Service Affiliates (USSA) to share the extra work load. USSA is also our Joint Venture Partner in our Affiliated Mortgage and Title Insurance Companies. They have the talent and resources to manage the complexities of the Short Sale Process. This knowledge coupled with the expertise of our 200 agents in 6 Tampa Bay locations enables us to focus on sales, marketing and providing our clients and customers with her or his finest real estate experience…GUARANTEED! Here are the steps to a successful, timely sale:

STEP 1: The first core component in a successful short sale is to clearly demonstrate to the lender that it is in their best interest to approve the Short Sale rather than to proceed with a Foreclosure. We’ve learned all of the critical information that lenders require to evaluate their options. Hence, the first part of our system involves you. To increase the odds that your file is accepted by the Lender, we need you to gather every document on the Short Sale Checklist and deliver the info to USSA or your agent. This information is so critical, that we can’t begin any marketing until this information is received. If you don’t have some of this information, please write a letter explaining the reasons why. Once USSA has your information, they will begin to assemble the Short Sale Package for the Lender and our agents and staff will begin the marketing and promotion.

STEP 2: The second core component of a successful short sale is to get a contract quickly. In a declining market, the faster the sale, the higher the price. Your agent will create a Strategic Pricing Analysis (SPA) and we will ask you to initially price the property at 10% below market value. We’ve found that Lenders will accept 10% below market value 98% of the time because it’s better for them to absorb that loss than to spend the time and money going through with the foreclosure and risk owning the property that may well be worth less when they’re done. By pricing the property below the competition, we should get showings and offers quickly. Since pricing a property is tricky in a declining market, if we don’t have showings and offers within the first 30 days, we’ll begin staged price reductions of 3% every two weeks up to a maximum of 4 reductions. If these reductions don’t produce an offer, something else is wrong and we’ll need to re-evaluate the entire file. As soon as your complete file is in our secure system and your property is on the market and being promoted by us at a very attractive price, we should begin to attract offers. Your agent has been trained in the complexities of the Short Sale Contract and will walk you through the process of whether to accept, reject or counter the buyer’s offer based on probabilities of success that we’ve learned. Once a contract is accepted by you, USSA gets involved again. This brings us to the third core component of our system.

STEP 3: Deliver a complete package to the Lender(s) so they can make a quick decision. USSA will utilize our Mortgage Company to work with the Buyer’s Agent to get proof of their financial ability. The lenders are more likely to approve a Short Sale when they’re confident that the buyer will close. Then our Title Company will research the title of your property to ensure that we can clearly show the Lenders what liens are needed to be satisfied in order to pass clear title to the Buyer and prepare a draft HUD-1 Settlement Statement to show the lender how much they will receive based on the offer you accepted.

Once assembled, USSA delivers the completed package to the Lender(s) and begins the process of obtaining approval of your Short Sale. This brings us right back to our original objective which is to clearly demonstrate to the lender that it is in their best interest to approve the Short Sale rather than to proceed with a Foreclosure. Obviously we’ve left many details out of this overview. However, we hope this demonstrates that we have all the systems in place to get this job done for you. We look forward to working with you to accomplish your goals.

CENTURY 21 Beggins Enterprises has been instrumental in helping sellers divest themselves of unwanted or unaffordable properties. Many times this is accomplished without deficiency judgments or any other financial liabilities from lenders. Thank you for considering CENTURY 21 Beggins Enterprises and United Settlement Service Affiliates. Please contact us for more information without obligation of course.

Warmly,
Craig J. Beggins
President
CENTURY 21 Beggins Enterprises

Confidential Consultation 813-545-1436