Orlando Real Estate Consultants

2009 $8,000 TAX CREDIT

Why buy your 1st home in 2009? 

There are lots of reasons but effective 2/17/2009 there is an even better one.  An extra $8k in your pocket complements of our Uncle Sam!

WHO QUALIFIES?

1st time buyers and buyers who have not owned a home in the last 3 years are eligible for an $8,000 tax credit that does not ever get repaid when they purchase primary residence between 1/1/2009 and 12/31/2009.

Yes, it is free mone!.  The catch, you must meet income requirements and live in the home for a minimum of 3 years.  If you sell or move early you owe a recapture tax of the whole $8k.  The income cap is $75k for individuals and $150k for couples.

CAN SOMEONE QUALIFY FOR THE $7,500 TAX CREDIT THAT WAS INACTED IN 2008 FOR PURCHASES BETWEEN 4/1/2008 - 7/1/2009?

NO, sorry... the new program replaces the earlier tax credit program for purchases 1/1/2009 - 7/1/2009.  If you purchased in 2008, you are eligible for the $7,500 tax credit that must be repaid over a 15 year period.  It is interest free and repaid with $500 added to your income taxes owed each year on your federal income tax return.

A LITTLE LESS TOGETHERNESS

A Little Less Togetherness

Dear Friends,

        Just a quick note to let you know how I can help you or anyone you might introduce to me.

      When Jennifer and Rob lost their home to foreclosure, they and their toddler moved in with Don and Ellen, Jennifer’s parents.  Don and Ellen enjoyed having the kids and grandchild around, and it was understood that this was a temporary arrangement.  But the weeks turned into months, and the months became a year, and then Jennifer and Rob announced they were expecting another child.  Don and Ellen knew it was time for a little less togetherness.

      Don asked their new neighbors about their Realtor, and the neighbors referred them to me.  When we met, Don and Ellen expressed an interest in purchasing a house or condo as an investment and renting it to Jennifer and Rob.  This was certainly a good time to consider an investment property, and I knew of several homes that I thought would work for them.  I referred the couple to my trusted Lender to discuss financing, and then we made an offer on a bank-owned condo in a lovely complex.  Now Jennifer and her family are getting settled – and Don and Ellen are building their retirement.

Michelle Morrow, Your Real Estate Consultant For Life

Keller Williams Advantage II Realty, 407-405-0311

P.S.  Who’s the next person you know who may be ready to purchase an investment property?  Be sure to give me a call to discuss how we can let them know about my services.

FACT OR FICTION? YOU CAN STILL BUY A HOME WITH NO MONEY DOWN!

THAT'S A FACT! 

ORLANDO HOME BUYERS ARE ABLE TO BUY WITH AS LITTLE AS $500 BUCKS OUT OF POCKET BY GETTING  DOWNPAYMENT AND CLOSING COST FUNDS FROM NATIONAL NON-PROFIT GROUPS!

Here's how they're doing it: – www.getdownpayment.com -  Non-profits like The Nehemiah Program can help sell homes faster, are very convenient source of down payment assistance and may even increase your seller’s bottom line.  How?  The program provides gift funds for downpayment to qualified home buyers using FHA financing.  Make sure your home falls within current FHA loan limits.  The gift funds never have to be repaid.  There are no income limits, area restrictions or home buyer education required like traditional downpayment assistance programs.  For the buyer to be eligible, the seller must agree within the sales contract to make a contribution to Nehemiah (usually 3%) plus pay a small processing fee (est. $495).  The contribution is in turn wired to the title company at closing as a gift for downpayment.  This is an acceptable source of downpayment on an FHA loan.  Now, there are closing costs and prepaids to consider as well when the buyer is obtaining an FHA loan.  Your seller may pay up to 6% in closing costs (and prepaids).  Nehemiah contributions are NOT counted in this calculation.    The typical contract shows 3% seller contribution towards closing costs and prepaids, 3% contribution to Nehemiah plus est. $495 processing fee.   Buyers typically get in the door with less than $500 out of pocket.  Visit www.getdownpayment.com  today for more information.  There is a great section for “sellers.”  Learn how to market this on your listings and attract more buyers! 

These programs have virtually no restrictions.   They work with virtually any FHA loan up to $353,000 in Orange and Seminole counties. There are no qualifying quidelines for downpayment gift funds....no income restrictions, no 1st time buyer restrictions, no liens or 2nd mortgages placed on the property.

IS YOUR HOME PRICED FOR MAXIMUM EXPOSURE?

IS YOUR ORLANDO AREA HOME PRICED FOR MAXIMUM EXPOSURE TO SELL QUICKLY?

FAST SALE PRICING STRATEGY #1: "Bracket Pricing"

Agents and buyers search for listings on the computer based largely on preset criteria. An awareness of how this criteria works will increase your effectiveness in drawing attention to your listing when Agents use the MLS and when Buyers search the internet.

Buyers have numerous website choices to find a home, with the market leader being Realtor.com. If you access Realtor.com and check the pricing brackets you will notice they are in $25k increments (until you reach $350,000 and then it goes to $50k increments). Appearing in two different price brackets simultaneously will dramatically increase your exposure and number of showings. If your listing is priced just $1 above a bracket or $1 below a bracket your listing will only be exposed to one pool of buyers and will not even show up in the other buyers' search! Your objective is to price a listing for the maximum exposure. This bracket-pricing effect is tested and validated.

(1) A listing price of $255,000 misses the entire group of Buyers who are looking "up to $250k". For a mere $5000, which can easily be dismissed when negotiation starts, you will miss more than 50% of potential Buyer hits.

(2) A listing price of $249,900 will not show up in a search from $250k to $275k. Even though the Buyer for any listing most likely will come from the bracket below, you do not want to miss the opportunity of being in two brackets. One advantage of being the lowest price in a bracket, is that you will likely show up on page one of the $250k-$275k search.

(3) I believe baby step price reductions have little effect. To use the same bracket-pricing theory, when you are reducing prices bit by bit WITHIN a bracket, you are exposing your listing to the SAME group of searchers. You will not notice an increase in hits. The magic happens when your price hits the next bracket point below, because at this point a new group of Buyers will now find your listing.

2008 Property Tax Town Hall Meeting

IF YOU ARE THINKING OF BUYING OR THINKING OF MOVING UP TO A LARGER HOME ..YOU'LL WANT TO PLUG IN AND SAVE THIS DATE!

_____

From: Rep. Scott Randolph [mailto:Scott.Randolph@myfloridahouse.gov]
Sent: Wednesday, January 09, 2008 2:29 PM To: michelle@morrowhomesales.com Subject: 2008 Property Tax Town Hall Meeting

Please add Scott.Randolph@myfloridahouse.gov to your address book to ensure my emails reach your inbox.

2008 Property Tax Town Hall Meeting Discussing the effects of the Property Tax Amendment on your personal budget and the budgets of the governments that affect you.

January 16, 2008 6:00pm-8:30pm

Orange County Public Schools Educational Leadership Center Board/Conference Room 445 West Amelia Street Orlando, Florida 32801

Moderated by Scott Maxwell Orlando Sentinel Columnist

Special Presentation by The Honorable Bill Donegan Orange County Property Appraiser

Panelists: Sen. Gary Siplin, Rep. Bob Allen, Rep. Scott Randolph, Rep. David Simmons, Rep. Darren Soto, & Rep. Geraldine Thompson Com. Tiffany Moore Russell & Com. Linda Stewart Com. Phil Diamond, & Com. Patty Sheehan Representative from the Orange County Public School Board

If you received this email from a friend and would like to subscribe to the Randolph Report, please click here .

If you wish to update your account settings or unsubscribe from all future emails please click here to visit your Subscription Management Page.

701 East Concord Street, Suite 100 Orlando, Florida 32801

_____

Email list management powered by http://MailerMailer.com

FLORIDA PROPERTY TAX REFORM...IT'S UP TO THE VOTERS THIS JANUARY!

ACTUALLY THIS JANUARY AND BEYOND....

WHAT'S ON THE BALLET FOR VOTERS TO DECIDE THIS JANUARY?  USE THE LINK BELOW TO THE ORANGE COUNTY FLORIDA PROPERTY APPRAISERS SITE TO GET YOURSELF UP TO SPEED ON THE INITIATIVES AND PLAN TO CAST YOUR VOTE FOR OR AGAINST THIS JANUARY. 

CHECK OUT THEIR NEW PORTABILITY CALCULATOR ....IF THE NEW AMENDMENT IS VOTED IN SAVE OUR HOMES PROPERTY TAX SAVINGS WILL BECOME PORTABLE SO THAT THEY ARE TRANSFERABLE WHEN HOME OWNERS UPGRADE TO A LARGER HOME OR NEED TO DOWNSIZE. 

http://www.ocpafl.org/

THERE ARE ALSO FUTURE AMENDMENTS POSSIBLY ON THE HORIZON.  THIS VIDEO IS A BROUGHT TO US BY AN INDEPENDENT GROUP OF CITIZENS THAT WANTS TO PROPOSE ANOTHER SOLUTION TO OUR PROPERTY TAX PROBLEMS.  WATCH IT, AND COME TO YOUR OWN CONCLUSIONS ABOUT WHAT IS BEST FOR FLORIDA AND RESIDENTS LIKE OURSELVES.

THE PERFECT MATCH WAS JUST A TOLL-FREE CALL AWAY!

Just a quick note to let you know how I can help you or anyone you might introduce to me.

        Jill and Randy Stevens had decided to sell their home of 20 years and move into a retirement community.  Their neighbor suggested they talk with me and when we met for our Initial Consultation, they made it clear that who the buyers were was as important as getting a good price for their home.  The Stevens had raised their two children in this house, hosted family reunions, and made many happy memories there.  They were in no hurry to sell, preferring to wait for new owners who would love the house as much as they did.

        I knew that the Stevens could talk about their home more eloquently than I ever could, so I invited them to record a message about their home, reminiscing about all the good times and why the house was so special to them.  I made the recording available on my toll-free number, and printed the number on my marketing materials.  When a family with young children fell in love with the house, the Stevens knew they’d found their perfect match.   

          

UPDATE....WE NOW HAVE 2 OFFERS ON 1637 RIVER BIRCH....STILL ACCEPTING OFFERS TILL SATURDAY!

DEAL OF THE WEEK! HAVE ONE OFFER... EXPECTING MULTIPLE OFFERS....SUBMIT YOURS BY SATURDAY 12/8!

Last spring Sudipta and Shanta purchased a new home in the Lake Nona area so that Shanta could reduce her commuting time and spend more time with their baby daughter.

Their problem is that their old home in Oviedo still hasn't sold.  They have been paying 2 mortgages each month and really need to sell the Oviedo home. 

MUST SELL ASAP!  WAS $330k.....NOW AT THE ROCK BOTTOM AFFORDABLE PRICE OF $250k!  ALL OFFERS MUST BE SUBMITTED BY SATURDAY 12/8....May the best offer win!

Located in a sought after upscale executive home community with fantastic schools, City of Oviedo Parks, Econ Nature Preserves, Malls and lots of businesses nearby.  This home makes a great vacation home, 1st home or relocation home.

1637 River Birch Ave is a beautiful 3 bedroom, 2 bath home built in 1997 with 1860 sq feet under air, with sought after side entry garage, vaulted ceilings, stainless appliances, screen enclosed porch and wonderful open layout!

Zero/Low down payment programs are still available.  Here's one option:

You can...Finance 97.5% of the value using an FHA loan.  Then gather 2.5% to go towards the downpayment from your savings, the return of your rental deposit, a 401(k) account, gift from a family member or friend, non-profit organization, or Florida State or Seminole County downpayment assistance programs.

Your monthly principal and interest payments based on a 30 yr fixed loan at 6% would be about $1,460.  That happens to be the same as the average rent in this great community.

Who do you know that would like to stop renting and gain all the benefits of home ownership? Like $$$ BIG federal income tax deductions, painting the walls any color you choose, your own palm trees, having all the pets you want and living in a home that you are proud to call your own!

YOU TUBE VIDEO TOUR ATTACHED BELOW ...CLICK TO PLAY.

CLICK BELOW FOR MORE DETAILS POSTED ON REALTOR.com

http://www.realtor.com/Prop/1088843424

FOR MORE INFO OR TO SEE THE INSIDE CALL MICHELLE AT 407-405-0311 AND VISIT

http://www.orlandorealestateconsultants.com/

FOR OTHER DEALS AND SPECIAL GOV'T 1st TIME BUYERS ASSISTANCE PROGRAMS

Michelle Morrow, Accredited Buyers Rep, Keller Williams Adv 2 Realty 1301 Lake Underhill Road, Orlando

HELP HAS ARRIVED FOR 1st TIME BUYERS!

The dream of home ownership feels out of reach for many Orlando Florida area residents.  Even if they could save enough for a down payment, housing prices are still high enough that they can't afford the monthly payment.

NOW HELP HAS ARRIVED! Seminole and Orange County SHIP GAP Assistance Programs are now helping many hard working deserving people like you actually become home owners and be able to afford the monthly payments at the same time.

HERE'S HOW THEY WORK....The buyer contributes as little as $1000 of their own money.  Part of that is used as a binder when you make an offer on a home and the balance is paid as part of the closing.  Many families try to live out their rental security deposit and use the funds from the last month's rent to help with the extra funds.  Funds can also be drawn from a 401(k), savings account or gift from a family member, friend or other organization.

  SEMINOLE COUNTY OFFERS GRANT LIKE FUNDS UP TO $130,000 and ORANGE COUNTY OFFERS GRANT LIKE FUNDS UP TO $35,000.  There are no payments and no interest to repay.  The money is free for the buyer to use for as long as they live in the home and sometimes there is no repayment ever.