News for The Brooks, FL - Thursday September 17th, 2009 4:52pm
Hey Everyone,

Unless you have been living under a rock for the past year or so, everyone is aware of the $8,000 tax credit available for first-time home buyers that close on their home before Dec. 1st, 2009. Since the release of this credit, there have been several misconceptions that have cropped up, so here are some important caveats to the tax credit:

1) You or your spouse may not have previously owned a home for three years prior to the home purchase

2) You must reside in the home (as your primary residence) for the next three years to stay in the program

3) The tax credit is for 10% of the purchase price of the home, up to $8,000 (not an automatic $8,000)

4) You cannot make more than $75,000 if you're a single-filer, or $150,000 for married couples filing jointly

5) The credit will not be received automatically; people who qualify will need to amend their 2008 tax returns, or file on 2009 taxes

6) The credit goes against other owed taxes first - should a qualified person have no other outstanding tax dues, then they would receive a check for the credit amount.

Hope this helps - the clock is ticking, so if you plan on qualifying for the tax credit, get your offers in now!!

As always, please feel free to call me at 239-357-9558 with any of your Real Estate questions, or visit my website at www.BuyRentSellFL.com. Take care until next time!

News for The Brooks, FL - Monday September 14th, 2009 4:04pm
Hey Everyone,

Bank failures have been a common occurence in the past couple of years, and in a recent article released by FAR (courtesy of United Press International), statistics show disappointing numbers for 2009.

According to a recent CNN report, the number of failed banks in 2009 have tripled since last year, and have cost the FDIC hundreds of millions of dollars in debt. In addition, the FDIC is predicting future losses to amount up to approximately $70 billion over the next five years (due to more failed banks).

On a slightly better note, the monies needed to financially bail the banks out has decreased down to $10.4 billion (from $13 billion), but the rate of "problem banks" is the highest it's been in 15 years. Many of the failed banks were smaller institutions that tanked when real estate values plummeted, and unemployment soared.

Hopefully, with the real estate market picking back up, the security and stability of these smaller banks will increase with time. For now, it looks like more bank failures are to be expected, so make sure to choose your banking institution carefully.

As always, please feel free to call me at 239-357-9558 with any of your Real Estate questions, or visit my website at www.BuyRentSellFL.com. Take care until next time!

News for The Brooks, FL - Friday September 11th, 2009 1:06pm
Hey Everyone,

With unemployment being such an important factor in today's economy, I thought I would post some recent statistics released from FAR (courtesy of Information, Inc.) about the current top 10 cities for employment.

What makes these cities rank in the top 10 for jobs varies - some have an abundance of government positions, large health care facilities, or offer many jobs related to the city's natural resources. The common thread among them is that they have all maintained a steady economy, making them top picks for those seeking to relocate. See the alphabetical list below of places to look into:

*Anchorage, AK
*Arlington, VA
*Columbus, OH
*Honolulu, HI
*Houston, TX
*Oklahoma, OK
*Salt Lake City, UT
*Shreveport, LA
*Tallahassee, FL
*Wichita, KS

As always, feel free to call me at 239-357-9558 with any of your Real Estate questions, or visit my website at www.BuyRentSellFL.com. Take care until next time!

News for The Brooks, FL - Thursday September 10th, 2009 3:53pm
Hey Everyone,

I know a lot of media has been done on the $8,000 tax credit available for first-time buyers, but it can't hurt to put out a friendly reminder. As most people know, the government is allowing first-time home buyers (pending they meet specific guidelines) to write off an $8,000 credit on their taxes, should they be purchasing a home for the first time by December 1st, 2009. What many buyers may not be aware of, is that the home has to be closed on (in full) by that date for them to take advantage of this great deal. That means the new owner has to already have keys in hand, not just putting in an offer, or making it halfway through the approval process.

In light of this little tidbit, it is STRONGLY recommended that people looking to "cash in" on this perk, so to speak, get serious about their home purchase. If you are in the market for a primary home, now is the time to put in offers, as many deals these days are taking longer and longer to process through the banks. Don't be one of the unfortunate few who will be a day late and a dollar short!

As always, please feel free to call me at 239-357-9558 with any of your Real Estate questions, or visit www.BuyRentSellFL.com. Take care until next time!