Category Archives: General

The Lessons That We Learn

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Everyone has heard stories of the Great Depression, and how tough life was. The pictures and words can never adequately define the amount of suffering that was felt. You just had to be there. Twenty years from now, few will remember the realty news that broke in 2008, about the subprime mortgage crisis. A peaking real estate market in 2005, left thousands falling hard with worthless properties. For those that were caught in the midst of this horrific era, however, the memories are still much too vivid.

In September of 2012, an increase of 5.7% was finally seen in newly-built single story homes. This was the largest increase in 2 1/2 years. The hope, shared by thousands, was beginning to turn into anticipation. Realty news, of this magnitude, began to spread like wildfire and was shared with improved housing markets across the US. The National Association of Home Builders/First American Improving Market Index (IMI), now suggests that the housing market is finally responding in growing numbers.

Realty news of any positive nature, can have an impact on residential contractors, potential home buyers and affect the entire real estate climate. Although the IMI has only been positioned since November 2011, the rising indicator is a welcome change from four short years ago. Figures show that only 30 markets were rated high enough to make the list when the IMI was formed. Today, that number has grown to 125.

In October 2012, Tampa, Florida, saw a 26% increase in home sales, and an average median price improvement by 13%. The trend for homes sitting stagnant, is beginning to change for the better, and at a faster pace. The Realty news of inventory of homes reducing by 25% over the past year, continues to point to more than a trend, but a complete turn-around in the real estate market.

Although the Realty news of a bright tomorrow is bringing folks to make bold moves toward purchasing new and existing homes, there is still a long way to go. Appraisals that are unyielding, and unrealistic lending conditions are still a challenge. But, this too will pass, with time. As the economy takes a foothold and good-paying jobs return, financial institutions will relax.

Experiencing the trauma of a crushed housing market can leave you leaner and meaner than ever before. A valued appreciation is gained and your assets, more tightly guarded. Understanding how the housing market operates, and knowing the right steps to take in moving ahead, are hard lessons that can prepare you for any good or bad realty news. Experience gained by hard lessons, is a valuable tool teaching the next generation. Use your newly gained knowledge, as your grandparents did with the Great Depression, and follow Realty news and trends closely. This base can lead you to a better understanding for watching any upcoming changes in the market, and be able to plan accordingly.

Lance Mohr is the owner of Tampa2Enjoy.com. If you are thinking of investing in Tampa Bay real estate please visit our website.

Changes Likely for Mortgage Deduction

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picture of tax returnsRealtors attending the conference and expo hosted by the National Association of Realtors (NAR) shortly after the 2012 General Election received distressing news about mortgage deduction and its future. This tax benefit is arguably one of the best five reasons for purchasing a home. It provides a significant discount to those who itemize deductions on their federal tax return.

Like many others across the world, political commentator Charlie Cook (Cook Political Report) has been following the nation’s advance towards the looming fiscal cliff. Joined by Major Garrett, the National Journal corresponded for the White House, the two reviewed the implications of the election results. Once again, the Senate and House are split with a four-year record on non-cooperation with each other or the executive branch.

Using the 400 point stock market loss the day after the election to demonstrate Wall Street’s lack of faith in the economic direction of the country, Garrett stressed that the deficit situation must be resolved quickly. Tax cuts allowed at present, including the mortgage deduction, total hundreds of billions of dollars. Failure to extend the tax relief for millions of American businesses and families will adversely affect the nation’s Gross Domestic Product (GDP).

The negative impact to a country still working its way back from recession is obvious. Both President Obama and the legislature are expected to address the issues soon. It is possible the current deductions will be extended for a short time while a resolution is pounded out and approved. The mortgage interest tax deduction (MID) has the opportunity to be adjusted with a percentage or dollar cap. Whether a person owns waterfront property in Tampa or a condo in another part of the country, a change is on the way.

Expect a deal before the end of the year to avoid sequestration and tax reform issues to be addressed in 2013. The return of recession will be on the shoulders of Congress. It is in the best interests of many to retain the best parts of MID, although it is doubtful it will survive without changes.

State Investigation Sought by Florida Consumer Advocate

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The people of Florida have a voice speaking out in their interest. The position of Insurance Consumer Advocate is currently held by Robin Smith Westcott. Ms. Westcott takes her responsibility as a strong advocate for the people regarding insurance decisions very seriously. If there are insurance problems facing homeowners in Tampa or any other part of Florida, the advocate attempts to resolve the problem.

In the event of questionable insurance practices, such as unfair rates or requirements, the advocate requests clarification of the issue and at times, requests a state investigation of the matter. This includes any insurance activities conducted under the jurisdiction of the Office of Insurance Regulation and Department of Financial Services.

Early November 2012 brought about the information that Ms. Westcott has requested a state investigation of certain insurance companies, based on several complaints received by her office. The issue is asserted statements that those companies cancel homeowner policies if a claim is filed. The claims are then denied based on credit information about the homeowner. If enough supporting documentation is acquired, she can request that action be taken against those companies engaging in this practice.

A letter from the advocate to Kevin McCarty, Florida Insurance Commissioner, described the threat to the economic recovery of the Florida as well as a threat to financial stability of homeowners in the state. At this point, spokespersons at the Commissioner’s office are declining comment.

With approximately ten complaints received to date from attorneys handling insurance cases and insurance agents, Wescott sent a copy of the letter given to McCarty to others, including Universal Property and Casualty Insurance Co., named in three of the complaints. It is unclear how rampant the practice is. Universal, one of the largest insurers in Florida, has acknowledged the practice is a routine procedure. As smaller companies generally follow the lead of others, other cases may show up as word spreads of the investigation. A spokesperson for the Florida Insurance Council said the letter was his first notice of this alleged problem.

The advocate’s position is that Florida residents have found themselves with credit and financial problems, including foreclosure and bankruptcy, two items in which Florida leads the nation. Even recognizing the unusual situation, policy holders that have paid their premiums for years are being tossed away when filing a claim. Westcott has encouraged McCarty to work with insurers to design and adopt fairer standards during claims. Basing a denial and cancellation on previous hardships or liens at this time is being cited as an unfair trade practice.

For information on Tampa, Fla homes for sale please visit our website at www.tampa2enjoy.com.

Making the Right Investment in Hillsborough and Pasco Counties

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There still is a considerable misconception about bank-owned properties in Tampa and the surrounding area. Just because the bank took over a certain piece of property does not mean that the home is in disrepair or in an undesirable neighborhood. When the economy crashed a few years ago, it had no respect for the families it was harming.

Industrious people at all levels got caught in the trap of limited unemployment, using savings and investments to stay afloat for as long as possible. Consequently, very nice homes in ideal neighborhoods suffered foreclosure with no takers at auction. Thus, the banks are still holding desirable property in this part of Florida, meaning there is an opportunity for a bargain.

One of the ways to consider which area to buy homes and the subdivisions within is to look at the property as both a buyer and a seller. Is there an acceptable number of parks with equipment and fields? Verify the city or county budget will maintain these facilities so they remain open.

picture of great schoolsCheck community action, such as parades and events like charity runs. Remember senior citizen activities and youth events, which give entertainment to the people most limited by lack of transportation. Of course, find out about public transportation and emergency services.

Schools are another important consideration. The school district can provide answers to questions about inter-district transfers and classes offered at the various levels. What distance are students expected to travel and how are they transported? Is the school a permanent structure or are there portable buildings scattered across the yard?

Check for the status of results for standardized tests. Are the tests changed frequently to show better ratings? If you have been looking at homes in Wesley Chapel, you will be delighted to know that Seven Oaks Elementary School is one of the few Florida public schools to be awarded a GreatSchools rating of 9 out of 10. Part of the Pasco County Public Schools District, it covers grades PK (pre-kindergarten) through fifth grade. Communities that care about their residents regardless of their age are the best places to live.

Reasons That Businesses Build and People Buy Homes in Tampa

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Imagine waking up and stepping over to open the blinds. You pause as you take in the beautiful scenery overlooking the bay. A pleasing fragrance gently wafts into the house through the screen. Listening carefully, you hear the lapping of water as it flows on and off the shore near your waterfront site in Andalucia.

The day ahead features a scheduled tee time, followed by a well-deserved relaxing day with friends and family. The great thing about Tampa houses is that they are available in a variety of sizes and floor plans. No matter what you are looking for, you are sure to find it here!

A mid-sized city with a population of just over 350,000, Tampa has all the amenities that encourage people to choose it for a residence. It has grown into the financial and economic center of Florida, venturing a long way from its former reputation as a cigar town. The largest industry in the area currently is agriculture, even though tourism is a close second and believed by some to be in first place.

Hillsborough County is known for products such as beef, dairy, ornamental plants, and citrus fruits. It is a foreign trade zone, and some qualifying products that are unloaded, repacked and reshipped here are not subject to import duties because of the ability to eliminate, reduce or defer customs fees. This is a big draw for companies that want to establish themselves in the area.

Everyone has his or her own idea of what the ideal home should be. For some, it is a condo or town home. Still others think fondly of a two-story single family home or one of the many full-sized mansions that dot this area. You may be one who likes to be close to neighbors or you may prefer some space in between. Tampa offers all of these home styles and everything in the middle. From East Tampa to Tampa Palms, your dream home is waiting to be discovered.

Ways to Discover Tampa Home Prices

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How exciting that homes for sale in Tampa are rising once more. There is a shortage of homes on the market throughout the entire Greater Tampa Bay area. As the economy rebuilds and banks feel more secure in approving loans, homeowners that successfully stayed with the diminished market can reconsider their position. The decision to stay or upgrade to other Tampa, Fla real estate might need another look. What ways exist to discover home prices in Tampa?

History is an intangible factor that can affect value. Overlooking Hillsborough Bay, Fort Brooke was built as a military presence in 1824. Teddy Roosevelt and approximately thirty thousand Rough Riders gathered in Tampa in 1898 to prepare for their attack on Cuba. Growing from an agricultural center to a thriving, organized city has made Tampa a respected name in business, economy and housing. The military strength at MacDill AFB has the advantage of modern structure and amenities. Skyscrapers, condos and an entertainment complex complement the water and Florida Aquarium.

Of course, many forms of entertainment in or near an area builds home value. Golf courses, skateboard parks, theatres and shopping vie with water sports in this area of Florida. Visitors to Tampa and nearby Brandon are sometimes surprised to find out Disney’s Hollywood Studios is less than 80 miles away. Part of the Walt Disney World Resort in Orlando, nearly 10 million guests visited Hollywood Studios, formerly known as Disney-MGM Studios, in 2011. A major attraction for guests of all ages, the benefit of owning a home about an hour away from this magical center is spectacular. It is close enough to plan a trip every few months so a day can be focused on each theme park within the resort.

The first thing you will notice is the great parking facilities, with each section identified by signs hung from the lampposts. Take the tram to the entrance and save your walking power for the inside. Hollywood Studios is very family friendly, renting wheelchairs, strollers for young children and motorized riding chairs for adults. There are activities for all age groups, including the presentation of how shows are filmed.

Special effects are part of the action for those who take the Studio Back Lot Tour and Tram Ride. Parents appreciate the opportunity to sit down and see the area without walking, while children enjoy the opportunity for another train ride. Enjoy stepping off the tram and watching how special effects are designed and scenes rehearsed for maximum effect. Afterwards, enjoy a tram ride back to your car and the short drive back to your Tampa home.

Amendment 4 Would Revive Real Estate Market

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image of yes on 4Leticia Adams, director of Infrastructure and Governance Policy for the Florida Chamber of Commerce, wrote the following editorial that appeared in today’s Sunshine State News:

When Floridians head to the polls in November, they should vote yes on Amendment 4, giving homeowners and small businesses across the Sunshine State a chance to rein in property tax hikes.

Florida’s economy has traditionally been dependent on a strong housing market, but this important sector was impacted hard by the Great Recession that the Sunshine State is still recovering from. Florida voters can give this core component of our economy a needed boost and lead the way to new growth and opportunities by supporting Amendment 4 on the November ballot.

Amendment 4 will untie the Legislature’s hands so it can put an end to the unfair state “recapture” law. Under the recapture law, property taxes can increase on homes even as their property values plummet. Asking Floridians to pay more taxes on homes that are declining in value is simply wrong and Amendment 4 will let the Legislature end this injustice. Continue reading

Happiness is Living Green in Tampa

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picture of conservationWhen potential homebuyers look at real estate in Tampa, FL and the surrounding areas, they are often surprised by the number of communities with wetlands and preserves. Preserving the environment is an important project for humankind. There are a number of new homes being built in the Florida wilderness. Contractors and architects have been challenged to design and deliver structurally sound homes with minimal impact on the surroundings.

Whether neighborhoods are built on sand along the shore or atop cliffs overlooking the ocean, the current feeling is to do whatever is possible to avoid disturbance of nature. An eco-friendly home is easy to find when you are looking for a house in New Tampa, as well as communities like Apollo Beach, Wesley Chapel and Brandon.

Involve children in the practice of ecology by making it easy for them to understand. Celebrate Earth Day every day by making conservation a habit. Go to the library with the kids to check out a book about plants and wildlife in your area. Explain the value of library books, which offers the opportunity of knowledge to many, rather than a single family. Then decide upon a trek along one of the hiking trails found near homes in Seven Oaks or the area in which you live.

Take pictures of birds, trees and flowers that you pass along the way. Identify what you can from the book. When you get home, look on the internet for unidentified items. Check with your local agriculture agent or UOF for assistance. Ask your children how they think our actions can affect other living things, including ourselves. Point out the green features in your home and how it helps the environment.

Cleanup days in the neighborhood, the park or the beach bring home the careless disregard some have for their surroundings. Take the family and join in with others to make things better. Community organizations, scout troops and personnel at MacDill AFB can use all the help they can get with projects such as these.

Add decorative solar lights to your walkways. They add joy to holiday displays, recharged by the sun during the day and capable of blinking and changing colors at night. An eco-friendly way of life delivers a great lesson to your children in the area of responsibility and concern for their community and the world.

Tampa Waterfront Properties

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For many retirees and homeowners the best part of living in Tampa is to have a home or condo on the waterfront where the glorious mixture of sand and water provide plenty of opportunities for relaxation and entertaining. There are great advantages to living in this area, with properties within easy walking distance to the sandy beaches as well as the cultural restaurants and shopping that is located nearby. Tampa waterfront properties are not exclusive to one specific area of beachfront locations there are numerous homes and condos for sale along the huge stretch of waterfront property. In addition to buying homes on the beach, Tampa waterfront properties are the types of homes that investors are interested in purchasing.

Tampa waterfront properties are designed to provide one level living that makes it easy for homeowners who are usually retirees to be mobile and have a higher quality of life than those in more demanding climates and geographic areas. Tampa has received awards for cleanest city and best city to retire; these along with outstanding medical facilities make it a top choice to live. The history and culture of the Tampa allows for a diverse style of homes and condos that are available. Waterfront properties are designed to handle the norms of wind, water and waves that occur on the coast.

The best part of living in the Tampa area is the availability of a wide range of amenities and lifestyles that are designed to appeal to everyone. There are Tampa waterfront communities that appeal to the younger generation just out of college or the university; settled families with children and adults. Some of the waterfront communities are designed for specific ethnic groups according to ages or income levels. The use of fantastic connections for online business and fast public transit systems means that it is easier for residents to travel without dealing with the traffic problems. Tampa waterfront properties are among the most highly sought after real estate in the state of Florida; they have the best to offer homeowners in the area or those who are looking to relocate.

 

Zillow Sues Trulia

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image of Zillow.comSeattle-based real estate website Zillow has filed a patent lawsuit against rival Trulia.

The suit, filed Wednesday in federal court in Seattle, comes a month after the San Francisco-based competitor launched plans for an initial public offering of stock to raise $75 million.

Zillow obtained a patent in June 2011 for its approach to refining its so-called “Zestimate” – a calculation of a home’s current market value – by allowing the homeowner or others to add to the data used for its projection.

A few months later Trulia debuted its own “Trulia Estimates” feature, which also allows website visitors to provide input for a property’s valuation.

The suit claims Zillow’s patent is infringed by what it terms “Trulia’s blatant and ongoing copying of Zillow’s innovative approach to home valuation.” Continue reading article