12 Reasons to List During the Holidays:    

1. People who look for a home during the holidays are more serious buyers.
2. Serious buyers have fewer houses to choose from during the holidays; less competition means more money for you.
3. One of the highest percentages of “listings sold” to “listings taken” occurs during this time of year.
4. You may receive more money for your home now, because you have less competition.
5. Throughout the holiday season, you may restrict showings during your personal family events.
6. Houses show better when decorated for the holidays.
7. Buyers have more time to look for a home during the holidays especially during vacations.
8. January is traditionally the biggest transfer month – and you must be in the market to capture those buyers since transferees cannot wait until Spring to buy.
9. By selling now you can have a delayed closing or extended occupancy until the beginning of the following year if you want it.
10. When you sell during the winter you have an opportunity to buy during the spring, when many homes are on the market.
11. You may have fewer actual showings but more qualified and motivated prospects.
12. Some people must buy before the end of the year for tax reasons.

• No Landlord: You own it so no one to call for permissions, repairs etc.
• Tax Deduction: You can  deduct mortgage interest, property taxes and some other costs associated with buying a home. Restrictions apply so always check with your accountant.
• Interest rates are historically low, so now is the best time to purchase and keep the cost as low as possible. 1% increase on rate of $100,000 could easily increase a payment over $100 per month.
• When renting you are paying for someone’s else property. When you own your own home, you are paying towards your mortgage, and hence possibly building some equity.
• You can decorate, renovate, get a pet, rent a room, paint inside as you as like, etc. It is your own home, so you get a freedom of choice.
• If you do any improvements to the property, you are spending money on your own property.

Real estate market is a local market so the growth or decline in any area varies. For info on Tampa Bay Real estate market, you can reach me.

Relocating to the Tampa Bay Area or just looking for a spectacular home? You have found YOUR match! Let me assist you in making this process go smoothly! Contact me today for more details!

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• Know who your banks are or who you owe the money:  A short sal eha sto be approved by the bank who has the mortgage or lien on your property. This includes mortgage lenders, Home Owner’s Associations, Equity line lenders, Contractors.

• Pick your Real estate agent and short sale team: You will need a team of short sale experts so interview your agent to make sure they have experience in short sale process.  You also need to have real estate attorney and accountant on your team.

• Get your paperwork ready: Paperwork like listing agreement, hardship letter explaining why you need to do a short sale, federal income tax returns, bank statements etc.

• Be patient: Despite you doing everything right, it may still take lenders weeks or months to decide whether to allow you to sell your home in a short sale. It may even take longer if you must negotiate with more than one lender and association etc.

• Know how it will affect your taxes: Consult with your accountant about the tax affects. Any unpaid amount could be considered a income to you under federal tax rules.

• Credit Score: Having a short sale may negatively affect your credit score, but a short sale typically damages your score less than a foreclosure or bankruptsy. Consult with your lawyer about the outstanding  amount owed and if the lender states that they will forgive any losses, get it in writing.

If you follow these guidelines and be patient through out the short sale process, you will be able to get the most out of your home.

According to Fannie mae rules, lenders normally requires you to wait 7 yrs before re-applying for another home loan. These rules change periodically so check out Fannie mae’s site for most current info.

However you can own it sooner, if there were any special circumstances beyond your control like job loss, medical emergency, divorce etc. You do need to re-establish your credit back before shopping for a new home. Credit scores get affected once someone forecloses and it can be upto 200 points or more. If you are thinking of becoming homeowner again, you can do many things to re- establish yourself which includes:

• Paying your bills on time.
• Keeping your cr card balances low.
• Saving money for downpayment and as liquidated assets.
• Finding a steady job (if job loss was the reason for foreclosure) and stick with it.

The foreclosure will stay on your credit for seven years but with time and better money management skills, the credit scores will come back up. Once you have the scores needed, contact your local lender or mortgage broker to find the right loan for you. You may still have to wait 3 to 4 yrs and show a good history of your credit management skills before applying for a mortgage again.

Persistence, positivity and discipline will once again open the doors for you to become a home owner.

Do not forget to check your credit annually.

Now question is: Are you ready or do you plan to be a homeowner again?

If yes, then make a plan and stick with it!

They do not realize that they have just made it harder for themselves by not paying these HOA fees. Even though they may be able to find a buyer for their property, the liens that can be placed by HOA can defecit the outcome. One might think, why would they do that; it only hurts the community, and the longer they halt the process, the deeper the hole the homeowner gets into. Yes, it is true that Home Owners Association can actually place a lien on your property for the unpaid fees accompanied with attorney fees, late fees etc. Since homeowners are aware when they purchase a property in a deed restricted community about the rules and regulations; and to pay the dues as agreed on time, as a result they have very little way around it.

Even though a home will eventually sell, not paying those fees will make it lengthier and much harder. Question is: What is your goal? Getting out and from under or taking a chance…

Every Florida resident who has purchased real property in the State of Florida, who resides on that real property, and is his or her permanent residence, shall be entitled to this homestead exemption on said property. If the home is purchased and closed before Jan 1st of the year, the purchaser can apply for this exemption through their property tax office. Owner must meet all the conditions and along with the application, proof of permanent residency must be submitted before March 1st to qualify for the current year. Examples of other documents that can be required are:

•  Florida driver’s license.
•  Florida vehicle registration.
•   Social security number for the applicant and his / her spouse.
•   Pasco County Voter Registration card.
•   If not a U.S. citizen, a permanent visa and a declaration of domicile.
•  Mobile home registration or title, if your mobile home needs to be declared as real property.
•  Recorded deed or tax bill for the real property to be homesteaded, which reflects the applicant as the owner on or before January 1st of the year for which an application is being filed.

If the owner is married, these documents are requested for both of them. Once this exemption is filed, it gets renewed every year until the ownership changes to another party and then they have to file it for themselves if they meet all the requirements.

 If you are escrowing your taxes in your mortagage, you do not need to worry as your lender will make sure that it is paid as soon as possible netting you maximum discounts. On the other hand if you do not escrow it becomes your resposibility to pay these on time or sooner if you want to save some money. 

so the question is should you pay now or later? Now!!!

Pasco county has made funds available for buyers who wants to purchase a new home. There are income restrictions and if you qualify, you can borrow upto $30,000 for down payment and/or closing. You do not have to first time home buyer but have to use this home as your primary home. You must attend the pasco county sponsored homebuyer class. This loan is only available for brand new homes

Homeowners also must have their own money of $1250 invested in the purchase. Lender who is registered with the county can reserve these funds for you and help you get financing of the home. These funds are at 0% interest rate and have to be paid back. Payments can be deferred back upto 5 yrs. Restrictions apply. These funds are limited so act now before you loose this opportunity.