Jeff Taulbee P.A.

Florida has $656.8 million to help struggling homeowners, but distribution of the federal aid is likely on hold statewide until early 2011.

The money, awarded through the Obama administration’s “Hardest Hit” program will pay the mortgage of unemployed or underemployed borrowers for up to 18 months as they seek new jobs or training. Originally announced in February, Florida got another infusion of hardest hit money last week that will increase those helped from 12,000 to 20,000.

The Florida Housing Finance Corporation is now working to amend its plan for the money and hopes to submit it to the Treasury Department for approval by Sept. 1. The original plan had relied on lenders to waive or delay nine months of mortgage payments if a homeowner received nine payments from Florida’s hardest hit money.

On Thursday, Florida housing officials said they could not get lenders to sign on for the state program. A federal plan that requires banks to forgive, temporarily or permanently, 90 days worth of mortgage payments for unemployed homeowners who seek a loan modification was announced after Florida had developed its plan. Banks didn’t want to agree to both mortgage forgiveness plans.

“With that intervening federal program, we were unable to get the match from the lenders we were looking for,” said David Westcott, director of homeownership programs for the Florida Housing Finance Corporation.

Florida’s new plan will pay up to the full 18 months for eligible borrowers, but the delay to get approval means a required 90-day trial program is also being pushed back. That trial, expected to begin this fall, will be held in Lee County, with only Lee County residents eligible.

Despite the holdups, Westcott said the state is happy to have the money. “This means more money to help more people for a longer period of time,” he said.

For information on the hardest hit fund, go to www.floridahousing.org.

Source: Palm Beach Post

Jonathan Rivera went to call up his 47,000-fan Facebook page, devoted to real-estate referrals for other brokers and agents, only to discover that the page was gone.

After hours of searching online, making phone calls and sending e-mails, the Orlando real-estate agent learned that Facebook had killed the page, called SocialRealtors, because the National Association of Realtors had complained it infringed on the giant industry group’s “Realtor” trademark.

Facebook, the world’s leading social-media network, has seldom unplugged a legitimate fan page, particularly one used by tens of thousands of business people.

After a two-day absence, the page was relaunched last month with a new name and with its old fan base intact. But the episode made Rivera re-evaluate his dependence on just one online outlet for an important part of his business.

“The control Facebook has, it’s scary,” he said. “It caused me to reflect. I do talks promoting social media; a year and a half ago, I was telling people, ‘You could run your whole business on Facebook.’ This was a wakeup call. … I’ve been the hugest advocate of Facebook for the longest time, so that morning was a slap in the face.”

According to a Realtors spokesman, the trade association never wanted the page removed – it just wanted to protect its name.

“What we didn’t know was exactly how Facebook would react,” Realtors spokesman Walter Maloney said. “Their action was drastic, but it did result in getting the name of the site changed, which was our goal.”

Rivera, whose original Facebook page debuted in October 2008, saw it as a way to offer other real-estate agents leads and referrals that he couldn’t use. But the site’s appeal was contagious, and soon thousands of agents were posting referrals that could earn them added fees, or looking for new clients with whom to do business.

As the National Association of Realtors and other industry groups wrote articles advocating agents’ use of social media to expand their businesses, the number of fans connecting with Rivera’s referral site grew.

“I guess the idea took off, and now we’re a pretty reasonably good-size community,” said Rivera, who also works with residential-property investors through a business known as Home Investments LLC. And under the name RealTechGuy, he consults with local firms looking to polish their social-networking skills.

The 32-year-old entrepreneur claims his website has led to more than 1,400 deals for various agents. And he gets first crack, he said, at any Orlando-area leads that pop up on the site.

The national Realtors group initially complained to Rivera that he was misusing the group’s trademark in several ways, including his labeling of the Facebook page as the “Official Realtor Referral Group.” Some people wondered whether it was an association website.

Rivera removed most references to “Realtor” from the page but could not find a way to change the name. After Facebook killed the page July 14, the association requested that Facebook simply rename the page so that it didn’t include the trademarked word. It reappeared two days later with the new name RealEstateReferralGroup.

Facebook did not respond to requests to comment for this report.

In describing his run-in with Facebook in a recent news release, Rivera again misused the word “Realtor” in several instances, according to the national association.

“Am I in trouble again?” he asked Monday.

Source: Orlando Sentinel

ORLANDO, Fla. – July 26, 2010 – CNN Money magazine has released its annual poll of some of the top places to live, and two Florida cities rank high as towns where residents’ income goes furthest when it comes to home purchase power.

Among CNN Money’s top 25 list for where homes are affordable, Deerfield Beach ranks No. 1 and Deltona is No. 4. Here’s what the magazine had to say about the cities:

No. 1, Deerfield Beach: With a median home price of $67,000 and a median family income (per year) of $56,519, residents here can find three-bedroom waterfront property for under $400,000. The beaches in this South Florida community are beautiful and completely open to the public; residents also are within easy driving distance of Fort Lauderdale or Miami for major league sports, entertainment and other amenities.

No. 4, Deltona: With a median price of $80,473 and a median family income (per year) of $56,907, house hunters here find properties for less than half the prices paid several years ago at the peak of the market. Located about 30 minutes from Atlantic Ocean beaches and within an hour’s drive of Walt Disney World, the area’s lakes offer boating, sailing and bass fishing.

View the rest of the top 25 list. 

 Source: Florida Realtors

Whether it’s because of the economy or by choice, millions of Americans are staying close to home this summer, and it’s not too late to get outdoor space ready for a summer fun. How-to information and more is available at HouseLogic – a comprehensive consumer website produced by the National Association of Realtors® (NAR) about all aspects of homeownership.

“HouseLogic has everything a homeowner needs to maintain, protect and increase the value of their home,” says NAR President Vicki Cox Golder. “Summer is all about enjoying the weather and your home’s outdoor space, and with a few improvements your backyard will be a safe and enjoyable place for everyone.”

This may be the year to add a new deck. The experts at HouseLogic say that choosing the right material is the most important decision. While synthetic decking materials, such as composite and PVC decking, and tropical hardwoods like mahogany are initially pricier, they are easier to maintain and can last years longer. Although traditional wood decks initially cost less, the annual cleaning and resealing maintenance can make them more expensive over the long term.

If your home already has a deck, it may simply need some care and maintenance. HouseLogic recommends a few simple steps to keep your deck safe, sound and looking great. First, give your deck’s structure a close inspection for rotting or cracked boards. Pound in any protruding nails and cut back nearby trees or bushes to prevent mold and rotting. Then thoroughly sweep and wash the deck; after it’s completely dry, follow up with a sealer or stain.

Pavers may be a good alternative to a deck and are available in many different colors and finishes. The experts at HouseLogic say that choosing patio paving materials begins with a solid foundation – the base that supports the pavers must be firm, strong and designed to stand up to years of foot traffic and weather. When it comes to pavers, there are many options, including brick pavers, which offer warmth and the possibility of intricate patterns; concrete pavers, which come in countless shapes and sizes and can be fashioned to look like real stone; a variety of stone, slate and marble; and even recycled hardscape materials, such as concrete sections from a neighbor’s old driveway or sidewalk.

If you have a pool, you may want to consider alternatives to chlorine. Chlorine is popular because it’s inexpensive and keeps swimming pools clean by sanitizing, oxidizing and deterring algae; however it also has a strong odor, reddens eyes, and causes allergic reactions in some swimmers. Chlorine alternatives include bromine, ionizers, ozonators or PHMB; but all four have drawbacks, including higher costs.

HouseLogic’s gas and charcoal grill guides offer advice on purchasing a new grill from a wide variety of models and prices – ranging from $29 to $5,000 and up. HouseLogic recommends that homeowners first ask themselves a series of questions, including what type of cooking they’ll be doing, how often they plan to use the grill, the number of guests they expect, and how much they want to spend. The answers can help homeowners narrow down their choices to one that fits their family and budget.

For more great tips on getting a home ready for summer and other homeownership topics, visit HouseLogic at www.houselogic.com.

HouseLogic is a free source of information and tools for homeowners from NAR that helps homeowners make smart decisions and take responsible actions to maintain, protect and increase the value of their home. HouseLogic helps homeowners plan and organize their home projects and provides timely articles and news; home improvement advice and how-to’s; and information about taxes, home finances and insurance.

 Source: Florida Realtors

After a close brush with the deadline, Congress has passed an extension of the Homebuyer Tax Credit closing deadline, the Homebuyer Assistance and Improvement Act (H.R. 5623). The extension applies only to transactions that have ratified contracts in place as of April 30, 2010 that have not yet closed.  The legislation is designed to create a seamless extension the new closing deadline for eligible transactions is now September 30, 2010.  There is will be no gap between June 30 and the date the President signs the bill into law.

NAR worked closely with Congressional leaders on both sides of the aisle to enact this important legislation. Extending the Tax Credit Closing deadline will help provide additional stability to real estate markets across the nation.

Additionally, the United States Senate has passed the National Flood Insurance Program Extension Act of 2010 (H.R. 5569) an extension of the National Flood Insurance Program until September 30, 2010.  This will allow transactions to move forward.  The bill is retroactive and covers the lapse period from June 1, 2010 to the date of enactment of the extension.

Source: Orlando Regional Realtor Association

As summer has quickly arrived the question in almost everyone’s mind is going to be “what can I do to keep my energy bills down and save money?”   Here are some energy saving tips to remember as the temperatures start to rise along with your electric bill.

·         Keep your thermostat at 78 degrees when you are at home and 85 degrees when you are away, fans really help to circulate the air and cool down the room you are in. Recent research for Florida has shown a 12% increase for every degree below 78 that your thermostat is set at.

·         Keep your window blinds closed. One of the top places that the sun enters your house from is through your windows and while this won’t solve all your problems it will help you to keep the heat from entering your home through the windows

·         Eliminate wasted energy by turning off all the lights in unoccupied rooms, run appliances in off-peak hours or when the sun goes down and  when replacing appliance make sure your purchase Energy Star products as they can save up to 30 percent over standard models. If you own a pool try to shorten the operating time and have your pool running during off peak hours.  Many electronics such as televisions, laptops, printers, etc. are using up power even if they are turned off but still plugged in (you should either unplug them or turn off the power strip.

·         Replace A/C filters once a month which can save up to 5% off of your a/c bill, it is also recommended to have your a/c serviced once a year

·         Replace light bulbs around the house with Energy Star compact fluorescent light bulbs

·         Install low flow showerheads to help with the amount of water being used

·         Weather strip and caulk leaky windows and doors and cover all of your outlets

·         If your ceiling is not fully insulated consider insulating it to save 5-25%

·         If you are planning on replacing your windows, think about replacing them with Energy Star windows which can reduce cooling costs by 15%

·         Some of the worse and most expensive leaks can come from your toilet that makes that faint whiny sound.  Tightening the pipe under the tank might solve the problem or you could put food coloring in the toilet tank, if color shows up in the bowl without having to flush you have a leak.   Another toilet leak is what is called a “hung toilet” where the tank mechanism is caught from closing and filling up your tank and is continuously running.  Even if this is only happening every once in awhile it should be checked.  A “hung toilet” can pour out a gallon every 2 seconds resulting in a loss of 43,000 gallons per day.  In just a matter of days the loss can be at several hundred thousand gallons of water, 200,000 gallons would result along in a $244 charge.

·         Make sure the a/c unit outside is free of grass and other debris or else the heat will have nowhere to escape to which will inevitably lead to a larger bill.

 

If you do decide to start making some energy efficient improvements on your own house or any properties you are managing you might want to take into consideration the current tax rebate programs that the government is offering.

HOME ENERGY EFFICIENCY IMPROVEMENT TAX CREDITS
Consumers who purchase and install specific products, such as energy-efficient windows, insulation, doors, roofs, and heating and cooling equipment in existing homes can receive a tax credit for 30% of the cost, up to $1,500, for improvements "placed in service" starting January 1, 2009, through December 31, 2010.

RESIDENTIAL RENEWABLE ENERGY TAX CREDITS
Consumers who install solar energy systems (including solar water heating and solar electric systems), small wind systems, geothermal heat pumps, and residential fuel cell and microturbine systems can receive a 30% tax credit for systems placed in service before December 31, 2016

 

First let me begin by reviewing just exactly what Short Sale means. A Short Sale is when the lender of record agrees to discount a borrower's payoff to accommodate a sale when:

1. The borrower/seller has experienced hardship.

2. The value is proven to be less than the amount needed to pay off all loans, encumbrances and real estate selling costs.

3. The loan is delinquent or in default.

To obtain approval from the borrower's lender, a Short Sale Package must be submitted. The package will include information such as a "letter of hardship". This letter should be hand written and no more than one page. Examples of hardship could be medical, job loss, business change, or marital status (divorce).

For a complete list of items required by most lenders for the Short Sale Package, please send me an email or reply to this Blog Post.

Thank you and have a wonderful week!

- Jeff