Tag Archive: Business


Why Buy a New Home ?

Tampa New Homes

New Homeds in Tampa

The standard of home building in Florida has never been higher than it is today. Home builders are investing huge amounts of resources into the quality of their properties, from exceptional levels of standard fitted features to improved energy efficiency.

Brand new means a blank canvas

Each new house is a canvas on which to create your own dream home. Everything in a new home is clean and untouched by previous owners – it’s like buying a brand new car and driving it out of the showroom. Buying a new home is about choice – most new homes are decorated in ‘neutral’ colours giving purchasers the opportunity to bring their own style and personality from day one.

Spoilt for choice

New homes come in all shapes and sizes, from one bedroom apartmentsto grand five bedroom detached houses and there are numerous designs and styles to choose from – something for everyone. Subject to the stage of construction, we can offer a bespoke service to customers enabling them to choose fixtures and fittings, or a higher specification from our options range at an additional cost. In some cases (where available) this will include flooring, soft furnishings, interior designs or even a garden landscaping service.

Built to suit modern lifestyles

New homes are built to make use of every inch of space. Research shows 17% of living space in older style properties often goes unused. New homes, on the other hand, provide flexible living space whatever your circumstances, whether you are single, a couple, a growing family or retired.

Live in a high spec home

New homes are built to a much higher specification than many older homes. The amount of ‘as standard’ features included in new build homes has also greatly increased. Today, all new developments have well appointed, luxurious fitted kitchens, bathrooms with quality sanitary ware and extensive wall tiling. Designed to comply with the very latest building regulations set by the Department of the Environment, new homes are also kitted out with the latest heating systems and controls, excellent wall and loft insulation, double glazed windows and doors.

Be part of a new community

Moving to a brand new home is also an opportunity to make new friends and be part of an emerging community. Buying in an established street, where properties may change hands infrequently, makes it harder to break into the social network. Today’s neighbourhoods are designed and built with people in mind and with everybody starting from scratch, getting to know your neighbours and community is easier as you settle in and start to discover your new surroundings together.

Enjoy peace of mind

Buying a new home eliminates the need to do any renovations, repairs or DIY, meaning new home owners can spend more time with family and friends, doing all the things they really enjoy. All our new homes come with a 10-year Homebond structural warranty providing new owners with peace of mind which those buying second hand property simply do not have.

Stay safe and sound

New homes are designed to adhere to high building standards. These standards relate to every aspect of a building’s construction including its structure, ventilation, sound insulation, electrical and fire safety, so new home owners can enjoy living in a safe and secure environment.

Help the planet and save money too!

New homes are more energy-efficient and generate less CO2 emissions than older style homes. So new home owners can take comfort that they are doing their bit for the environment. But it’s not just about the planet, improved energy efficient saves money too and living in a new home can reduce energy bills.

Modification of Loan

Foreclosure is always a race against time. Although a home loan modification can slow the process, you have fewer options the longer you wait. Not all lenders have the staff or experience to handle mortgage loan modifications. Even with a capable attorney, the process can drag on for months.

But you don’t have to sit and wait. There are some things you can do to speed up the process. Once your home loan modification is under way, these steps can help you get more positive results.

1. Put everything on paper. It’s not uncommon for lenders, especially smaller ones, to lose track of your application. To prevent delays, make sure all your efforts are documented and kept on file. This includes all the calls you make and receive, both from your lender and loan modification attorney. Keep receipts of all your transactions, and make copies so you don’t have to let go of the originals.

2. Do your own financial statements. Part of every home loan modification is a financial worksheet, which will be your main basis for qualification. Most lenders have their own forms, but it won’t hurt to make your own as well. If your lender insists on using their worksheet, at least you’ll have all the information ready.

3. Be as detailed as possible. Too much information is better than too little, and it limits the chances that they’ll call you for more information. A typical worksheet for a mortgage loan modification will include the following:

-Your contact information (address, home phone and work phone, fax and email)

-Information about your property, including the estimated value

-Your current income

-Any additional income, such as welfare, child support, etc.

-Your estimated total value, including other assets such as real estate, investments, savings and checking accounts, IRAs, 401(k), stocks and bonds

-Liabilities, such as existing loans, monthly bills, medical expenses, and tax liens

4. Keep all your bills. The financial worksheet will require you to dig up old bills and hold on to the ones that keep coming. This will help you keep the information as accurate as possible. You may also need to present these bills (or copies of them) along with your hardship letter, which explains why you need a mortgage loan modification. Even if they don’t ask for it, it’s best to include them anyway. That way, there’s no reason for your lender to doubt your statement. The more proof you have, the better your chances of getting that home loan modification.

Be sure to submit as much truthful and verifiable information to your loan modification attorney so they are able to compile the best case to submit you your lender.

(ArticlesBase SC #724387)

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Luxury Homes in Tampa

What luxurious for you may not consider as the same to another individual. It is depend on ones interests and taste for a certain color, design, texture and size. How luxurious a home should look like really depends on finding comfort and pleasure at the same time. On the other hand, there are definite features that most people would agree such luxury homes should have.

There is no need of exaggerated decors or furnished with complicated fixtures for a home to be called luxurious. Actually lots of people nowadays have chosen to go minimalist with their home décor.The most important thing to consider when looking for an ideal luxury home is the space and simplicity that it offers.

Most people love to have their own personal space and to be in control of their environment. The common today is the Zen– like approaches, as people desire to change their houses into homes where they can find comfort and be away from competitiveness of this stressful world. This is the reason why lots and lots of people have planned their luxury homes to have glass fixtures among white and beige as their master themes, or also known as earthy colors.

Most of homeowners today choose the long and wide windows that overlook their gardens or backyards; they also want a fancy kitchen with attractive designs to entertain guests and as well as huge walk in closets for their collection of clothes and shoes. Therefore, it is depend on the way your luxury home is designed and structured for it to be called luxurious.

The luxury homes usually have more than two bedrooms with a matching number of bathrooms. Mostly, they have high ceilings and are carpeted or tiled with marble or granite flooring. The more expensive luxury home would also consist of swimming pools, garages and gardens and of course, together with security services.

There are many types of luxury homes today, some of these are condominiums, high- rise apartments, private houses, semi- detached houses, and serviced apartments. These houses provide to different needs and offer different things depend on the needs of the buyer.It is very important take into consideration the location, the facilities offered and the price as well when choosing the ideal luxury home for you. Look on the advantages and disadvantages of the luxury homes you have considered and see which more worthy of your money is.

It is okay to seek help from the experts in this field like the real estate agents and advisors. They can help you a lot in so many ways in terms of choosing the right luxury home for you.

Always remember that you do not have to be limited to the designs of the luxury home that you want to purchase. It is because renovating or re- modeling your house is something that you could always do, if you want to give your home a new look depends on what you wish. Do not be afraid to make a huge transformation to the appearance of your house. Reconstructing is a common practice that takes place prior to moving in to a new place.
There are lots of luxury homes today where you can find peace, comfort and contentment of living in one. Therefore, you can say that a home is luxurious ultimately depends on how you design and make it out to be look like one.

Read more: http://www.articlesbase.com/real-estate-articles/when-can-you-say-that-a-home-is-luxurious-3628710.html#ixzz14l3WTg4a
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How to Prevent Home Repossession

Home Repo

Home Repossession

Repossession of houses and properties has been a problem for millions of people all over the country. The lack of money to pay for the loans and mortgages is the main reason for the occurrence of this problem. In order to deal with the increasing number of repossessions, the government has directly intervened. The financial traps and disruptions which have caused the problems are being corrected. This would include uncontrolled lending and approval of loans and mortgages. Many banks and lending companies lowered the requirements and criteria needed to approve an applicant who needs to borrow money. This has been done in order to increase the earnings of the bank. By accepting more borrowers the monthly payments received by the bank would double. But the banks were not able to predict that people belonging in the middle and lower class would lack the payment required in the long term. Once the debt has accumulated, the banks and lending companies were compromised. Due to the rising prices and disrupted money flow, many companies were not able to sustain the financial requirements needed to sustain their operations. This resulted to job loss of millions of people.

In order to prevent home repossessions, the consumers should follow several pointers. Instead of investing all of the money acquired in the stock market, people should have tangible and accessible wealth and assets. This can be in the form of gold, properties and houses. Millionaires who put all their money and resources in stocks and currencies lost all of it which resulted to repossession of homes, cars and other properties. Tangible properties would not be greatly affected and depreciated. It can be used as bargaining tools in order to cancel the repossession of homes. Many banks have collateral programs which can be used to cancel the home loans if substantial properties can be surrendered. The properties are fairly prices in order to provide good deals to people.

The consumers should plan ahead carefully in order to avoid home repossession. This is necessary in order to avoid financial losses, deficits and bankruptcy.  This is necessary in order to have a secure living condition.

(ArticlesBase SC #3621256)

Read more: http://www.articlesbase.com/real-estate-articles/how-to-prevent-home-repossession-3621256.html#ixzz14f0OhYku
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Florida Home Values
What’s the difference

It is a common issue that most homeowners have when they buy, sell or get their tax bill in the mail a “What is the difference between Tax Accessed Value (“TAV”) and Fair Market Value (“FMV”)?”

This question and its answer are critical to your understanding why many property owners who appeal their taxes personally fail. This is not a surprise and most county tax appraisers (assessors) do not help the situation. REMEMBER, if you appeal and the basis for your appeal is not acceptable, you are declined and can not come back again for another year!

Fair Market Value is what a property should be able to be sold at in a market that is not under “distress”. Distress in this case means not an unusual amount of foreclosures, high or anticipated high unemployment in the region, a toxic waste dump nearby, flood plain, or other “issues: that could cause perspective buyers to look elsewhere for homes.

Appraising a property is a matter of looking at what other, “supposedly similar” properties have actually sold at within a limited area around your home, usually 1/4 to 1/2 mile or, preferably, within your subdivision. I would like to say this appraised value is an accurate estimate of what your home will sell for, but frankly, appraisals are to a large degree a subjective guess. Any appraiser will admit that his appraisal is based on his professionalism in estimating the value of your home but it is still a “best estimate” in his mind. Often two appraisals of the same property can be 10% or more apart. Comparable sales can not take into account the motivation of the seller or the condition of the interior of the property.

FMV is definitely not what your neighbor’s smaller home sold for plus an upgrade for your larger property. Most homes are purchased for emotional reasons or the practicality of living close to work or schools, etc. So a homeowner can get an appraisal, estimate his own FMV or ask friends, neighbors and real estate agents to mention a few sources. It is very likely that your personal guess, if supported by actually seeing the inside of properties for sale and ones that have sold and comparing these sales or listings or FSBO‘s (For Sale By Owners) to your property, is as good, if not better than all those opinions above. For this exercise, let’s assume you have decided your property’s FMV is $250,000.

If the FMV is $250,000 what should the Tax Assessed Value be? Usually, the County Tax Assessor has a formula based on FMV to compute your TAV. This formula varies greatly from state to state and county to county, but in general it should be 80% of FMV LESS your deductions. Your deductions, where applicable, include exemptions for some or all of the following: widow or widower, senior citizen, handicapped, homesteaded property, veterans, combat injury, paralyzed partially or completely, blindness, and on and on. It is important that every homeowner review the full list of exemptions for his county or have a professional tax appealer do it for you, because each and every exemption is money in your pocket to which you are entitled. Florida has recently increased its homestead exemption from $25,000 to $50,000 per homesteaded household. This roughly means that the average homeowner will save an additional $350 – $500 a year in taxes.

The tax appraiser uses what he considers your FMV and multiples it by a multiplier of 80% to 90% of FMV. Here is an actual example for Broward County, Florida: FMV (your recent purchase price) of $250,000, TAV without homestead or any other exemption = $212,000 (84.8%). If you homestead your property, the TAX value drops to $162,500, HOWEVER, your School Board Taxable Value changes to $187,500.

If you are a Senior disabled Combat-wounded veteran, age 65, have at least a 10% disability rating, provide proof of combat injury, and a Florida resident at the time of entering the service, your property taxes are $0.00! There are numerous other full exemptions that you or a professional tax appealer should investigate immediately because you may be entitled to huge property tax savings.

If you purchased a home as a short sale or a foreclosure and got a great deal at well below FMV, your purchase price will not be considered as FMV. Instead, the tax assessor will use his “best estimate” based on other properties in the neighborhood. However, he will not take into account the repairs you had to make that could reduce your taxes substantially. Your professional tax appealer will be able to do this for you.

In the years following your home’s purchase, the tax assessor determines your assessed value by using a complicated mathematical formula that re-appraises all the properties in the county at one time. It has to be done this way because of the tens of thousands of properties and the minimal staff at the tax assessor’s office. In most cases this isn’t fair to the homeowner or commercial property owner but fewer than 2% of tax payers officially protest and fewer than 20% of those who do ever get a tax reduction. This is primarily because of a lack of understanding the appeals process and being able to reconstruct the necessary data for a successful appeal; your professional tax appealer can do all this for you.

In summary, the TAV of your home is usually a percentage of its FMV and under usual circumstances this will be 80% to 90% before exemptions. However, for short sale and foreclosure purchases it could be 200+% of your purchase price or more. Consult with a local professional tax appealer to make sure you are paying only your fair share of your property taxes.

(ArticlesBase SC #481074)

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Are you on the search for a new home? Are you a first-time home buyer ready to enter the market? Then a buyers market is right where you want to be!

 

Recent years have turned many real estate markets on their heads. One-time hotbeds for rapid appreciation and booming sales have turned into areas rampant with dropping prices and foreclosures. Making matters even more complicated, is the realization that every market is different. Even neighborhoods within cities have varying markets.How can you tell if you are living in an area experiencing a buyers market?Key Indicators:

  • More than six month’s worth of inventory on the market 
  • Median sales price is down 
  • Fewer buyers on the market 
  • Relative large supply of homes and relative low prices

As a buyer, how can you maneuver yourself to take full advantage of a market which is stacked in your favor?All of the market indicators translate into more choice for buyers. Prices become more negotiable. You have more homes to choose from.One of your first steps is to hire a real estate agent. An agent can supply you with market statistics, including days on market, pricing, and neighborhood comparables. They can also direct you to home listings on the MLS.With such economic uncertainty today, buyers are scared to venture into the market. They fear prices may drop after they buy, leaving them upside down in a home. They fear the market will not pick up for years, leaving them stuck in a home. That fear works in your favor, should you choose to buy. Interest rates are at historic lows. And buyer fear actually translates into more homes for you to choose from. It means sellers may be more willing to drop their price to make a sale.In negotiating, foreclosures wreak havoc on a neighborhood. Foreclosures can lower values on an entire street. If a home has been sitting on the market for months, the likelihood that the seller will make concessions increases.And even when a price won’t budge, you can always discuss who will pay closing costs.Deciding when to buy can be a big decision, but buying during a buyers market can give you many advantages over other markets.

The opportunity for personal recreation is excellent, with swimming, surfing, fishing and other types of facilities. There is something for every age and interest. The current Florida real estate market is a chance that will never come again for a person to own a home in an ideal location that cannot be matched anywhere else in the world. The current price of homes and low interest rate make it possible for anyone to own the home of their dreams and no longer be obligated to pay rent. Many times the loan payment is less than the rent one is currently paying, offering an opportunity to have a home that is dream come true.

Florida is a fantastic place to live. The access to its many beautiful beaches and its ideal weather makes it a very attractive place to spend one’s life. If children are involved, there are excellent educational  facilities available from kindergarten through college. With a number of large cities, as well as open country, one has the opportunity to live in either location.

The opportunity for personal recreation is excellent, with swimming, surfing, fishing and other types of facilities. There is something for every age and interest. The current Florida real estate market is a chance that will never come again for a person to own a home in an ideal location that cannot be matched anywhere else in the world. The current price of homes and low interest rate make it possible for anyone to own the home of their dreams and no longer be obligated to pay rent. Many times the loan payment is less than the rent one is currently paying, offering an opportunity to have a home that is dream come true.

 

The National Association of Realtors released the Pending Home Sales Index for August today.

NAR’s Pending Home Sales Index measures the number of home purchase contracts that were signed in the monthly reporting period.  Once “pending” sales contracts are closed, they are considered an Existing Home Sale. Because the Pending Home Sales index tells us how many contracts were signed, it is considered a forward indicator of Existing Home Sales.  A signed contract is not counted as an  Existing Home Sale until the transaction actually closes. 

The data reflects contracts and not closings, which normally occur with a lag time of one or two months. However, many closings have been delayed recently from a rush of buyers into the system and slow processing of short sales, in addition to the heavy volume and a more thorough loan underwriting process.

The Pending Home Sales Index, a forward-looking indicator, rose 4.3 percent to 82.3 based on contracts signed in August from a downwardly revised 78.9 in July, but is 20.1 percent below August 2009 when it was 103.0. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

Lawrence Yun, NAR chief economist, said the latest data is consistent with a gradual improvement in home sales in upcoming months. “Attractive affordability conditions from very low mortgage interest rates appear to be bringing buyers back to the market,” he said. “However, the pace of a home sales recovery still depends more on job creation and an accompanying rise in consumer confidence.”

CONSUMER CONFIDENCE HIT A 7-MONTH LOW IN SEPTEMBER….this implies we shouldn’t be expecting another rise in Pending Home Sales when that data is released on November 5. It also means we should be expecting an uptick in Existing Home Sales. Get ’em to the table loan originators!

The PHSI in the Northeast declined 2.9 percent to 60.6 in August and remains 28.8 percent below August 2009. In the Midwest the index rose 2.1 percent in August to 68.0 but is 26.5 percent below a year ago. Pending home sales in the South increased 6.7 percent to an index of 90.8 but are 13.1 percent below August 2009. In the West the index rose 6.4 percent to 101.1 but remains 19.6 percent below a year ago.

Although Yun expects a continuing steady rise in home sales from favorable affordability conditions and some job creation, he cautioned any sudden rise in mortgage rates could slow the recovery. “Current low consumer price inflation has helped keep mortgage interest rates very attractive this year. However, recent rising trends in producer prices at the intermediate and early stages of production, along with very high commodity prices, are raising concerns about future inflation and future mortgage interest rates,” he said. “Higher inflation would mean higher mortgage interest rates. In the meantime, housing affordability is hovering near record highs.”

30-Year Mortgage Rate Ties Low While 15-Year Sets New Record.

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30-year fixed-rate mortgage (FRM) averaged 4.32 percent with an average 0.8 point for the week ending September 30, 2010, down from last week when it averaged 4.37 percent. Last year at this time, the 30-year FRM averaged 4.94 percent.

15-year FRM this week averaged a record low of 3.75 percent with an average 0.7 point, down from last week when it averaged 3.82 percent. A year ago at this time, the 15-year FRM averaged 4.36 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.52 percent this week, with an average 0.6 point, down from last week when it averaged 3.54 percent. A year ago, the 5-year ARM averaged 4.42 percent.

1-year Treasury-indexed ARM averaged 3.48 percent this week with an average 0.7 point, up from last week when it averaged 3.46 percent. At this time last year, the 1-year ARM averaged 4.49 percent.

Frank Nothaft, vice president and chief economist at Freddie Mac, says, “Confidence in the state of the economy fell among consumers and businesses, which led to a decline in long-term bond yields and brought many mortgage rates to record lows this week. The September Consumer Confidence Index by the Conference Board fell to the lowest level since February of this year, while the Business Roundtable CEO Business Outlook for the third quarter was the weakest in the past four quarters. Consequently, rates for the 15-year fixed mortgage and the 5-year hybrid ARM reached new all-time lows and rates for 30-year fixed mortgages tied its record set just four weeks ago.”

“Homeowners have regained $1.0 trillion in home equity as of the second quarter of 2010 after losing more than $7.5 trillion over the three-year period ending in the first quarter of 2009, the Federal Reserve Board reported. This, in part, strengthened household balance sheets and reduced serious mortgage delinquencies. For instance, first mortgages 90-days delinquent or worse fell to 3.16 percent in August from 4.76 percent a year prior and was the lowest rate since June 2008, according to the S&P/Experian Consumer Credit Default Indices .”