FLORIDA'S REAL ESTATE BLOG

SHORT SALE ? FORECLOSURE ? PRE-FORECLOSURES ? WHAT'S IN A NAME ?
March 22nd, 2008 5:04 PM
Short Sale ?  Pre-Foreclosure ? Foreclosure ?   When searching for a bargain,  How does a buyer know where to find their next dream home ?  Once you have been prequalified for a loan amount and before getting in the car to visit homes ... it is absolutely necessary to make a list of important features or "must haves" and then make another list of "nice to have, but not required features".  Sometimes our list of "nice to have" can cross over, will 2 full baths be sufficient or do you entertain frequently and need an extra half bath for party guests ?  Do you need a fenced back yard for pets, or can you afford to install a fence ... is that in your budget ?  Do you need an extra room for a home office or playroom ?  After making those decisions about the features of your "Dream Home" then determine your time frame.  If you have the time to wait, a short sale or foreclosure may be right for you. With short sales and foreclosures, offers must be submitted to the lender ... be prepared to wait ... lenders have not been making decisions on these types of contract approvals quickly ... most are finding sixty days an optimistic number, and some are taking much longer.  If you don't have that kind of time, you may want to look at homes where the seller will make the final decision about a contract and acceptable offer with probable closing within 30 to 45 days.  Many owners have reduced prices and are competitive in the 2008 market.  Also, decisions on "Pre-Foreclosure" sales may still be in the hands of the sellers if the lender has not started the foreclosure process, your Realtor® can help answer these questions for you. There are so many choices available, it is definitely a great time to find the property with all of the "must haves" on your list ..... why settle for less ?  If you would like to access the local MLS via a free  Listingbook™ account, please contact me via email dtrugman@tampabay.rr.com or by phone 727-692-8685 and you can start your "Dream Home Search" immediately.
Posted by Joanne Trugman on March 22nd, 2008 5:04 PMPost a Comment (0)

WHY I AM VOTING "YES ON 1"
January 5th, 2008 9:53 PM
On January 29th, I will vote "YES" on Constitutional Amendment 1. I do not usually tell anyone how I vote, on anything, because it is a personal choice.  HOWEVER, I do believe Floridians need property tax relief and the passage of this amendment is a critical step in the right direction.  The voters have the power to cut property taxes by voting "YES".  Some have said this does not provide the comprehensive tax relief that was expected, but think about it ... THIS IS A WAY TO START THE BALL ROLLING.  The amendment doubles the homestead exemption from the current $25,000 to $50,000 for many Floridians.  It will allow homeowners to transfer their "Save Our Homes" benefit - up to $500,000 - to a new homestead if they sell in 2007 or later. Businesses will receive a new $25,000 exemption for "tangible personal property".  The property tax cut plan is projected to save taxpayers $9.2 billion over the next five years .... Floridians have the POWER TO CUT PROPERTY TAXES BY VOTING "YES ON 1" on January 29th.  See you at the polls.
Posted by Joanne Trugman on January 5th, 2008 9:53 PMPost a Comment (0)

FLORIDA PROPERTY TAXES REVISITED ?
November 30th, 2007 8:50 PM
Over the past month, I have read numerous articles explaining the "Property Tax Amendment" which is to be placed on the  January  29,  2008 ballot (presidential primary).   As most of you know, the Florida House joined the Florida Senate on October 29, 2007 in approving a package of property tax reforms, as a proposed constitutional amendment.  Governor Christ signed into law the bill that would implement property tax cuts   if  voters  approve  the  " proposed constitutional  amendment " .   This  proposed constitutional  amendment  consists  of  four parts:   1) increase homestead exemption  2) allow for a measure of portability for the Save Our Homes benefit  3) provide a Tangible Personal Property Exemption  4) provide an assessment cap for non-hometead property. I am not planning to address each of these items in detail since there has been so much information published, both on the internet and in the print media.  HOWEVER, I did want to make you aware of the current Taxation and Budget Reform Commission's discussions and proposals.  (This Commission is created under the authority of Section 6 of Article XI, the Florida Constitution of 1968.  Additional authority is granted under the provisions of Section 286.036, Florida Statutes) The Commission meets until May of 2008 and members submit proposals to the Commission. They are reviewing proposals for property tax reform,  such as replacing a portion of property taxes via an increase in sales tax (sound familiar)  and/or extending sales tax to professional services,  with a proposed amendment on the ballot as early as November 2008. If you would like more information on these very important proposals, please visit www.floridatbrc.org   There is also an ongoing citizen's petition drive to amend the state constitution to place a 'percent'  limit on property taxes. The property tax reform debate is far from over, proposals continue to be presented and discussed.  Send them your ideas and   STAY TUNED !
Posted by Joanne Trugman on November 30th, 2007 8:50 PMPost a Comment (0)

PROPERTY TAX REFORM .... NO NEWS IS GOOD NEWS ???
October 19th, 2007 3:15 PM
We continue to wait for our Florida legislature to agree on the property tax reform amendment(s) and we wonder what next ?  The original amendment was challenged, as I'm sure you have heard, and was thrown out with yesterdays shredded papers.  Now the Florida Senate and the House of Representatives have, once again, formed their separate opinions and the political thrasher continues to grind away at any hopes of bipartisan action.  I have sent emails to my representatives expressing concern and why I believe there is a need to resolve the issues in order to present an amendment  ... for significant property tax relief ... on the January 29th ballot. A decision must be made this month, or we will not see the amendment on the ballot in January.  Please contact your representatives and BE HEARD on this IMPORTANT MATTER.  Our opinions count ...Thank you for taking action.
Posted by Joanne Trugman on October 19th, 2007 3:15 PMPost a Comment (0)

FHA LOANS MAY BE THE ANSWER FOR TODAY'S BUYERS
September 11th, 2007 9:00 PM
FEDERAL HOUSING ADMINISTRATION LOANS may be the answer to the home loan desires of todays' buyer.  The FHA was established in 1934 under the National Housing Act and is part of the Federal Department of Housing and Urban Development (HUD).  The guidelines have been evolving over the years, however, one thing all buyers want to hear about is the "low down payment" requirements.  The borrower must have 3% of the sales price into the transaction, the funds must be verified, and gifts from a family member are acceptable when verified according to the FHA guidelines. Down Payment Assistant programs may also qualify.  An FHA approved lender processes and underwrites the loan. Credit approval is also required yet there is some flexibility based on the strength of the borrower's credit history and assets.  FHA does allow borrowers with no credit score to "Build" a credit report with alternative types of credit references and letters,  AND sellers may be able to contribute up to 6% in closing costs. FHA loan rates are generally lower than conventional rates. This is just a brief overview, there are maximum loan amounts established by county.  Please give me a call today for more details and to find out if an FHA loan may be the way for you to own a home.  I have personally purchased homes with the help of FHA loans, my first in 1986 ..... it was a dream come true.  Let's make a dream come true for you too !!!  Call me at 727-692-8685 or email your questions to dtrugman@tampabay.rr.com
Posted by Joanne Trugman on September 11th, 2007 9:00 PMPost a Comment (0)

CARBON MONOXIDE DETECTOR/ALARM LEGISLATION
August 11th, 2007 11:27 AM
Gov. Charlie Christ signed legislation in July, SB 1822, mandating the carbon monoxide detectors/alarms be standard in many new homes, buildings, and hotel rooms located close to boilers.  The legisaltion was sponsored by Sen. Rudy Garcia (R-Hialeah) and Rep. Eddy Gonzalez (R-Hialeah Gardens).  The Florida Statute 553.885 applies to building permits issued on or after July 2008, for buildings that have "fossil-fuel burning heater or appliance, a fireplace or an attached garage". Gov. Christ has encouraged all Floridians to have carbon monoxide detectors in their homes. Carbon Monoxide (CO) is a colorless, odorless gas that can build up in enclosed or semi-enclosed areas and cause sudden ilness or death for those who breathe it.  There have been a number of incidents of death and near death reported in the Tampa Bay area news headlines  this summer.  I urge everyone to purchase carbon monoxide detectors to protect you and your loved ones, also be sure you  have smoke detectors in your homes ... such a small expense for such a " life savings".   You may review the statute @  www.leg.state.fl.us
Posted by Joanne Trugman on August 11th, 2007 11:27 AMPost a Comment (0)

LISTINGBOOK™ HAS ARRIVED
July 13th, 2007 5:17 PM
Have you ever found yourself searching the internet at 2 AM in the morning?  Searching for that "Dream" home, and there it was, but you couldn't call your Realtor® in the middle of the night ?  Now,  Listingbook™ is available to you.  Communicate instantly with me through integreted messaging and 'Property Notes', no need to send an email ... Listingbook™ notifies me of your comments automatically.  Just click on the property and send a note:  "This is THE ONE, please schedule our appointment for tomorrow at 3PM".  I will receive your notes in the "Morning Report",  schedule the appointment,  send you a "note" and/or call you to confirm.  Also selling a home ?  Listingbook™  will allow me to keep you informed 24/7. You will be notified of how many prospects are looking at your property, how many have marked it as a "favorite", reports on area competition; as well as daily and monthly reports with valuable statistics on listing activity.  Listingbook™ is  "personalized with you in mind" and is only available from members of participating multiple listing services.  Please call me today - or email me  dtrugman@tampabay.rr.com to get started with Listingbook™  
Posted by Joanne Trugman on July 13th, 2007 5:17 PMPost a Comment (0)

PROPERTY TAX RELIEF
June 19th, 2007 11:40 AM
The Florida Legislature passed a resolution during the special session that will seek voter approval for a "Super" homestead exemption to lower property taxes.  Also introduced was a special amendment giving homeowners the choice to retain their existing "Save Our Homes" benefit or select the "Super Exemption" (if passed by voters) .  Your voices were heard and the legislature has given you choices and the opportunity to vote on this important issue.  There will be much in the news over these next months, both for and against the "Super Exemption".  The media is filled with updates, tax calculators, and opinions. There are pages and pages of explanations on the internet.   If you are currently under the "Save Our Homes" benefit,  you could take advantage of the "Super Exemption" when and if you choose. Once you sell and move on, "Save Our Homes" will not be available for your next primary home, HOWEVER, you would have the benefit of the "Super Exemption" on your next primary home.  Let me know what your thoughts are on this important opportunity the voters have been given. 
Posted by Joanne Trugman on June 19th, 2007 11:40 AMPost a Comment (0)

PROPERTY TAX REFORM ... WHEN ?
May 8th, 2007 11:45 PM
Everyone was disappointed on May 4th ... the Florida Legislative regular 60 day session came to an end without expected property tax cuts.  Our Governor and our Lawmakers have promised to take another look at this issue during the Special Session, now scheduled for June 12 - 22.  Please take the time to contact your local representatives and let them know if you want changes made and what you would like to see accomplished during the upcoming special session.  Some issues that had been discussed during the regular session: millage rollbacks, revenue limits, portability of the "Save Our Homes Cap", changes in assessment criteria, revenue replacement .... and many others. Too many choices? Why not give them your ideas before the Special Session in June?   Let Your Voice Be Heard !
Posted by Joanne Trugman on May 8th, 2007 11:45 PMPost a Comment (0)

AFFORDABLE HOME LOANS*
April 18th, 2007 5:32 PM
TEACHERS, FIREFIGHTERS, LAW ENFORCEMENT PERSONNEL, HEALTH CARE WORKERS ..... MyCommunityMortgage™  and  the  Community Solutions Options™   is available thanks to Fannie Mae.  This program has been designed to " help our country's valued workers overcome the obstacles to homeownership." What does that mean to you ?  100% financing available, no required minimum contribution from borrower, non-traditional credit and certain gifts from relatives may be acceptable and more.  I will be happy to review the specific guidelines with you during a confidential " Loan Consultation " to be sure your monthly budget will not be over burdened. Maybe the time has come to move closer to work and spend less money on gasoline every week. There is time to take advantage of the "Buyer's Market" with more choices for you in the neighborhood you choose.  Please let your friends and family know about this program.  *Disclosure: All loan programs require qualification and/or credit approval by the lender and are subject to change without notice. MyCommunityMortgage™ is a trademark of Fannie Mae and information obtained via Fannie Mae.
Posted by Joanne Trugman on April 18th, 2007 5:32 PMPost a Comment (0)

HB 333 SIGNED INTO LAW
April 11th, 2007 10:12 AM
As a follow-up to my post on March 29th, the governor has signed into law HB 333 which implements the amendment passed by voters last fall.  This will allow cities and counties to give an additional homestead exemption to low-income seniors.  As mentioned previously, this must be decided at the local level by the individual cities and counties.  If these local governments pass the ordinance by June 1 of 2007, the tax break will be effective for the 2007 tax year.  Be sure to contact your local government representatives and let them know if you are in favor of this additional $25,000 exemption, bringing the total to $50,000 homestead exemption.  By the way, not all cities and counties in Florida currently have a homestead exemption in place.
Posted by Joanne Trugman on April 11th, 2007 10:12 AMPost a Comment (0)

HAVE YOU HEARD ABOUT "MY SAFE FLORIDA HOME" PROGRAM?
April 9th, 2007 8:48 PM
Florida's Chief Financial Officer, Alex Sink, has made it her goal to increase awareness about the incentives being made available to Florida homeowners that  fortify their homes in preparation for high winds, including hurricane shutters, reinforced garage doors and roofs.  The "My Safe Florida Home" program began offering free home / wind inspections in a pilot program during 2006.  Over 14,000 free wind inspections were carried out and the first checks have been sent to homeowners who strengthened their homes.  Because of the overwhelming response, the program is currently on hiatus, while the process is fine tuned and evaluated.  To find out more about this program and how to apply for inspections and qualify for the grants, please visit www.mysafefloridahome.com   On the web site,  Ms. Sink states she expects the program to resume statewide.  Be sure to review the guidelines to find out if your property is eligible, then be ready to apply for your free inspection when the program resumes.
Posted by Joanne Trugman on April 9th, 2007 8:48 PMPost a Comment (0)

HOMESTEAD EXEMPTIONS ... DOUBLE OR NOT ?
March 29th, 2007 7:55 PM
Florida voters approved a constitutional amendment in 2006 to allow local governments to give an increased homestead exemption on property taxes to low income seniors.  HB 333 would give cities and counties the option of doubling an existing exemption  on primary owner-occupied homes from $25,000 to $50,000 for qualifying low income seniors. The Senate and the House have passed the bill and it is now being sent to the Governor. A full analysis of the bill can be found at www.flhouse.gov , select "BILLS" in the header and then type in  the Bill Text  field the words "homestead exemption" or  enter "HB 333" in the Bill # field.   Because this exemption is a local option, it may OR may not have an impact on You or Seniors you may know.  I will keep you updated as information is made available on the Florida legislative sites. If you are expecting this exemption to be enacted in your area,  make contact with your local county and city representatives and let them know.
Posted by Joanne Trugman on March 29th, 2007 7:55 PMPost a Comment (0)

CITIZENS INSURANCE RECEIVES MILLIONS FROM IRS
March 21st, 2007 10:42 PM
A REFUND from the IRS of more than $168 million was paid to Citizens Property Insurance Corporation, as part of a court battle that started when a predecessor of Citizens, Florida Windstorm Underwriting Association (FWUA)  sued the IRS for a refund of previously paid federal income taxes.   The IRS had alleged the FWUA  "was not a tax-exempt entity and was subject to federal income tax obligations."  As part of the agreement, the IRS declared Citizens' predecessor a tax exempt entity.  Citizens was created in 2002 by the Florida Legislature, as a tax-exempt, public, not-for-profit corporation and it's tax status has not been an issue. The refund money is expected to be used to pay future claims and expenses.   (As reported in new briefs from the Florida Association of Realtors®) 
Posted by Joanne Trugman on March 21st, 2007 10:42 PMPost a Comment (0)

NEW WEBSITES MAKE FLORIDA GOVERNMENT MORE ACCESSIBLE
March 15th, 2007 6:16 PM
As reported by the Florida Association of Realtors® (FAR) Web site news links, several new Florida Web sites are available in an attempt to make state government more accessible.  As FAR reports, Governor Crist has told state agencies to "review their communication strategies and establish new standard guidelines which should allow future state publication and products easier to find".  www.flgov.com/og_home  (The Office of Open Government Web site) includes information about Florida's open government, public record laws and links to organizations that provide public record resources.  Next, you may want to visit www.flgov.com/pl_home  ( Plain Language Initiative) where consumers will be able to request a translation of a state government document either online or by fax.  There are examples of before-and-after documents, edited to make language easily understood.  And for those of you interested in 'Insurance' you may find www.fldfs.com/ica to be of interest, information is present regarding the Insurance Consumer Advocate and contacts for consumers with insurance related questions. I have visited all of these sites, most were up and running, however, I did find several 'error pages' when I attempted to view specific pages.  I would expect this should be resolved as the bugs are worked out.  Great resource for all of us.
Posted by Joanne Trugman on March 15th, 2007 6:16 PMPost a Comment (0)

MORE DISCUSSION IN THE HOUSE ...
March 8th, 2007 6:29 PM

As the Florida House of Representatives debates the property tax issues, the proposed bills are available on-line for your reading pleasure, as well as the progress as the bill moves through the proper channels @ www.myfloridahouse.gov   As of today, The Government Efficiency and Accountability Council has passed the bill on to the Committee on State Affairs.  The proposed tax rollback would save statewide property owners billions of dollars.

The Florida Senate website does not show the same progress, however, there are discussions  .... www.flsenate.gov  

Posted by Joanne Trugman on March 8th, 2007 6:29 PMPost a Comment (0)

FLORIDA REAL ESTATE PROPERTY TAX .... WHAT'S YOUR OPINION ?
March 3rd, 2007 1:55 PM

SATURDAY, MARCH 3, 2007 :  In February, lawmakers in the state House of Representatives proposed plans for lowering and/or eliminating the real estate property tax burden.  Discussion in the House of Representatives, beginning this next week, will become heated  as one proposal would increase the state sales tax, another would increase homestead exemptions, and some Florida residents are suggesting  'Vegas Style Casinos'  as the answer to our revenue needs in the state... What is your opinion ?  Please send me an email with your ideas .... dtrugman@tampabay.rr.com

 

Posted by Joanne Trugman on March 3rd, 2007 1:55 PMPost a Comment (0)
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