For Sale By Andy

Florida To Decide (Again) On Property Tax Relief

2007-11-14T18:50:00.000-05:00

Today (November 14, 2007) Florida Governor Charlie Crist signed the bill approved by the Florida Legislature on October 29,2007 regarding the proposed state constitutional amendment. If Florida's voters approve the amendment on January 29, 2008, the 4 part property tax cuts will become law.

The four parts of the proposed tax cuts are:

1. The current $25,000 homestead exemption would be doubled for primary homes valued at more than $50,000. Law-makers and analysts predict that the average homeowner will save $240 a year.

2. Save Our Homes (SOH) Portability. This will allow those with homestead exemptions to take their SOH with them when moving to another homestead. SOH limits annual assessment increases to 3 % on primary homes.

3. Businesses, second homes and rental properties will enjoy an annual assessment cap (10%) similar to that of the SOH.

4. Businesses can take advantage of a $25,000 exemption on equipment and other personal property.

Florida Property Tax Update

2007-11-01T19:03:00.000-04:00

The latest version of property tax reform: How it works

TALLAHASSEE, Fla. – Nov. 1, 2007 – The Florida Legislature, caught in a game of “chicken,” approved a measure that will appear before voters on the Jan. 29, 2008, ballot. With time working against them, lawmakers agreed on a measure that scaled back earlier initiatives, and even current reforms pushed by the House.

What the current amendment includes:

Homestead exemption
The homestead exemption increases. The current $25,000 homestead exemption remains; but a second $25,000 exemption is added for home values between $50,000 and $75,000. The second $25,000 exemption does not apply to school taxes, however, which translates into a lower-than-expected savings of about $240 per homesteaded owner. The portion of a home valued between $25,000 and $50,000 will still be taxed at all levels. FAR fought to include this taxable portion in order to maintain fairness for smaller cities and counties with lower median home values.

Portability – Moving up
Property tax savings portability (money saved over time on property taxes because of yearly increase limits through Florida’s Save Our Homes amendment) applies to homesteaders (homeowners with a homestead exemption) moving anywhere within Florida. Up to $500,000 of accumulated savings, applied to taxable value, may be transferred when one home is sold and another is purchased, with the transfer applying to all taxes, including the school portion. Homeowners have two years after they sell a home to buy a new one and transfer the savings.

If buying a more expensive home, a homesteader calculates savings by subtracting the assessed value (taxable value) from the just value (market value). The amount (savings over time) is then subtracted from the just value on the new home purchased. In most cases, the $50,000 homestead exemption will also be subtracted.

Example: Susie currently owns a home and has lived there for a long time. The house’s just value is $500,000, but because of Save Our Homes, the assessed value is only $200,000. Susie buys a new house for $700,000. The following year, she’ll pay taxes on only $400,000, however, because she’s “porting” $300,000 in value to her new home. After factoring in the new homestead exemption of $50,000, her total assessed value would be $350,000.

If buying a less-expensive home, the calculation changes and is based on the percentage of tax savings rather than a dollar amount. If the assessed value on the original home was 50 percent of the just value, for example, the homesteader would transfer that percentage to the new home, or have a new assessed value that is 50 percent of the new home’s just value. The percentage system was created to keep homesteaders from effectively eliminating their property taxes altogether by moving from a high-cost area of Florida to a low-cost area – a change that could severely hurt smaller rural economies.

Example: Susie currently owns a home and has lived there for a long time. The house’s just value is $500,000, but because of Save Our Homes, the assessed value is only $200,000. Susie buys a new town home for $300,000. She’ll pay taxes only on $120,000 because when buying down in value, she’ll keep the same ratio (40 percent) of assessed value to just value that she enjoyed in her old home. After factoring in the new homestead exemption of $50,000, her total assessed value would be $70,000.

Also, portability is retroactive to Jan. 1, 2007 – so everyone who bought this year and moved from an established homestead will be able to “port” their savings for next year. Since yearly tax values are based on ownership as of Jan. 1 each year, portability would not affect this year’s tax bills, which most homeowners have already received; but the savings will be applicable to next year’s tax bill.

Non-homesteaded property tax cap
A win for FAR and an important piece of the amendment is a 10 percent annual assessment cap on non-homestead property. Similar to Save Our Homes, this cap limits the assessed increases of commercial, rental and second home property taxes to a maximum amount of 10 percent per year starting in 2009, protecting against high spikes in taxes from year-to-year.

While property values will not rise 10 percent every year, FAR believes the cap offers some relief and protection to properties in high-value markets and waterfronts from unpredictable tax increases. The Constitution mandates a tax reassessment to just value upon transfer for non-homestead residential properties of nine units or less, but allows the Florida Legislature to determine how reassessment will occur for commercial and higher-unit residential properties. However, implementing legislation passed during the Special Session provides for reassessment of these properties upon a change in ownership or use.

Tangible personal property exemption
Under the amendment, the Tangible Personal Property (TPP) exemption for businesses is $25,000. The Legislature estimates that this tax – paid to local governments on items such as shelving, desks, computers, and other office equipment – will exempt about 1 million of Florida’s 1.2 million businesses that currently pay it. The amendment also drops the requirement to file for the TPP tax.

Work not done
While the proposed amendment will save property owners as much as $12 billion (depending on the portability amount used), FAR will work for greater relief measures. The association also has serious concerns about a challenge to the constitutionality of portability.

Earlier versions of property tax reform included provisions to help first-time homebuyers, a move missing in the current version. With that protection gone, FAR considers it possible that it will be challenged under the U.S. Constitution along with the entire Save Our Homes property tax system. If that happens, it could bring everyone back to the table yet again.

© 2007 FLORIDA ASSOCIATION OF REALTORS®

Florida House passes property tax reform legislatio

2007-10-23T20:36:00.000-04:00

TALLAHASSEE, Fla. – Oct. 23, 2007 – The Florida House passed a bipartisan property tax reform package yesterday by a 108-2 vote that addresses many issues important to Florida Realtors. House leaders consider the almost-unanimous vote an indication of that legislative body’s dedication to the plan. It now goes to the Senate for consideration.

Prior to the vote, Florida Association of Realtors®’ (FAR) President Nancy Riley sent a letter to House Leadership indicating the association’s support for property tax reform, specifically applauding the inclusion of an assessment cap for non-homestead and commercial property owners. The 5 percent yearly assessment cap on non-homesteaded property (assessment retriggers upon sale) and commercial property (assessment only retriggers with “substantial” improvements) would apply to local government and school taxes.

“The House proposal regarding an assessment cap for non-homestead residential property and commercial property addresses many of the tax problems with non-homestead properties’ high yearly assessments and an uncertain tax bill from year-to-year,” Riley told House leaders, since many “non-homestead property owners are rethinking whether they want to invest in Florida.”

Another provision FAR leadership finds appealing is a guaranteed property tax break of 40 percent for homesteaded property or Save Our Homes savings. Homeowners would take advantage of the tax relief plan that saves them the most money. The 40 percent break would offer substantial and immediate relief to new homebuyers or those who purchased a home within the past few years.

“We are also pleased that both the Senate and House are advocating for “Save Our Homes” portability,” Riley says. “While not precisely in line with FAR’s stated position (local county option or a phase-out of ‘Save Our Homes’), this is mitigated by the House’s proposed assessment cap on non-homestead properties.” The House proposal includes statewide portability of property tax savings under Save Our Homes.

Other legislative highlights include:

• No doubling of the homestead exemption
• The Legislature will be allowed to change assessment methods for working waterfronts and affordable rental housing
• The Miami-Dade Property Appraiser must be elected, rather than appointed
• $25,000 tangible personal property tax exemption

The House bill, while covering many FAR goals, is still not the final word, however. “FAR will continue to promote property tax reforms in the areas of ‘highest and best use,’ presumption of correctness, value adjustment boards and assessment issues related to affordable housing and working waterfronts,” says Riley.

The Senate is slated to reconvene on Thursday. A Call-to-Action will probably be issued by FAR shortly, asking Realtors to contact senators, encouraging them to approve the House plan. The House and Senate must approve a bill by Oct. 29 to make it onto the Jan. 29 ballot.

© 2007 FLORIDA ASSOCIATION OF REALTORS®

Florida House pushes for stronger property tax cuts

2007-10-22T20:31:00.000-04:00

TALLAHASSEE, Fla. – Oct. 22, 2007 – On Saturday, Florida’s House of Representatives released its updated property tax reform plan, which includes a number of initiatives favored by Florida Realtors.

House leaders now hope to build a bipartisan consensus to show the Senate that they’re serious about drastically cutting state property taxes. If Democrats and Republicans pass the measure with something close to a majority, they reason, the Senate would have to consider the plan.

“If we come out with a product in the House that’s 118-2 or 115-5, it sends a message that, look, this is pretty good reform that we’re united behind,” says Rep. Jack Seiler, D-Wilton Manors. “We actually deliver the same in tax cuts [as the Senate’s plan], but we deliver it more efficiently.”

In addition to portability – which the governor, Senate and House already advocate – the updated House proposal includes a 5 percent assessment cap on commercial and non-homestead property. The cap applies to properties, so a change of ownership would not change those taxes under a new owner, giving non-homestead property owners a degree of stability and predictability.

The House also advocates a new homestead exemption. Instead of doubling the current $25,000 exemption, the plan would guarantee a minimum Save Our Homes exemption of 40 percent of a county’s median home price. House leaders believe this will provide relief to not only new buyers but also those who have purchased in recent years.

Issues being proposed in the House plan include:

•Homestead property owners would pay tax based on their existing Save Our Homes value or current value minus 40 percent of their county’s current median home price, whichever is less.
•5 percent cap on commercial and non-homestead property taxes
•Under portability, homeowners may transfer Save Our Homes benefits to a new homestead anywhere in Florida within two years of leaving their former homestead.
•Tangible personal property exemption of $25,000
•Limits the authority of local governments to increase property taxes
•Provides limitations on the assessed value of properties used for affordable housing
•5 percent assessment growth limitation for all non-homestead properties
•More flexibility for the Legislature to limit assessments for working waterfront properties
•Election of all county property appraisers

FAR has a downloadable chart comparing the recent House proposal to Senate positions here.

© 2007 FLORIDA ASSOCIATION OF REALTORS®

A Taxing Dilemma

2007-10-15T21:30:00.000-04:00

As most of you are aware by now, the proposed "Superexemption" property tax amendment was removed from the January 29, 2008 ballot by Leon County circuit court judge Charles Francis. While this move is clearly disappointing to many expecting huge property tax relief, we must overlook this gaff find the good in an otherwise poor decision. Florida Governor Charlie Crist and others are feverishly working to put together another tax relief bill and get it in front of Florida voters for the January primaries. In order to do that, lawmakers need to finalize a new plan, likely with less "oomph", and submit it by the end of October, 2007...the constitutional deadline for putting a new amendment on the January 29, 2008 presidential primary ballot. Maybe this one won't confuse judge Francis.

As a strong part of his election campaign, Crist spoke of Save Our Homes portability and doubling the homestead exemption...and he may have to stick with that premise for now. While Crist and others who are forging tax relief proposals are avoiding making criticisms about Francis' ruling, they are optimistic about the opportunity to provide what they hope will be a better plan. Even if there is some kind of relief put on the ballot, it doesn't necessarily mean that this will be the end of Crist's efforts. Crist has said that he will continue to fight for property tax reform for Florida until a dramatic solution is in place.

Meanwhile, the first phase of the original plan has already taken place...freezing tax rates and telling Florida's Counties and Cities to trim the fat. But, believe it or not, there are those out there who want to ruin the party we've all been invited to. Enter Weston Mayor Eric Hersh, County Commissioner Ilene Lieberman, Fort Lauderdale City Commissioner Carlton Moore, Hallandale Beach Mayor Joy Cooper and a slew of others. They don't seem to want to be told how much tax revenue they can squeeze out of Florida residents...or how to spend it. While at this point some of them are only vowing to get involved in suing the State over this benefit to taxpayers, Hersh has already cried foul and put his foot in the mud. Hersh sued claiming the reliefs were illegal and that the Florida constitution gives the local governments the authority to impose taxes up to $10 per $1,000 of assessed value. Apparently Hersh wants access to the whole enchilada. Even after Francis made one good decision by telling him no, and that the Legislature has the power to limit that authority, Hersh says he and his attorney have grounds to contend Francis' ruling as incorrect.

Makes you wonder if Hersh or the others would support ANY property tax relief, after all, the money that would go back into the pockets of Florida's citizens would have to come from somewhere. Seems like he would rather be able to spend your money than to have the opportunity to do something about out of control taxes.

Change Is Good

2007-10-01T19:48:00.001-04:00

If there is one thing that is constant, it is change. And if there is one thing I have learned in life, it is to seek change before change seeks you. In light of that, it is with mixed emotions that I announce that I am no longer with Exit Realty Consultants in Brandon, Fl. I have made the move to Exit Extreme Realty in Tampa, Fl. While for my friends and customers the change will be transparent, this decision puts me more in line with my long and mid-range goals. My phone number, e-mail address, website and blog remain unchanged, as does my commitment to all of you. Fell free to call or write with any questions.

Think About It-Don't Be A Billy

2007-09-16T10:15:00.000-04:00

Picture it. It's Christmas Eve...little 7 year old Billy has been begging Santa for the last 3 months for a brand new bicycle (the GIZMO RACER 5000) to replace his old, run-down bike (a GIZMO RACER 1500). Billy has been complaining for a long time about how useless his current bike is. So he sneaks downstairs and under the tree he spots a present with his name on it, you know the kind, no box, just wrapping paper. But its the shape of a bicycle. Billy peels apart just a small corner and takes a peek. It IS a new bike, but it's not a GIZMO RACER 5000, it's a GIZMO RACER 3000.

Disappointed, Billy returns to his room for the night. The next morning Billy's parents can't wait to see his excitement as he opens his present. But Billy refuses to accept it and complains about how its not the best bike available. No, he's going to hold on to his old worn out bike until "Santa" goes back to the drawing board and brings him the best bike possible. Besides, Billy's friends have been telling him that the GIZMO RACER 3000 might not be as good as his beat up GIZMO RACER 1500 with no brakes and a chain that keeps falling off. It's a brand new bike. It's a better model than his old one. Is there a better bike on the market? Sure. But the GIZMO RACER 3000 is better than what Billy has now. The moral of the story? Billy should be thankful that he was given a new bike, and he should stop listening to his friends that don't want him to have a new bike. Billy's not a brat, he just needs to THINK ABOUT IT.

Ok, so why this little story? Because it's Christmas Eve folks. You need to start thinking about what you need and want here in Florida....Property Tax Relief. There is, and has been, a lot of talk about the proposed SUPER EXEMPTION. Research (below) shows that over 90% of Florida Home Owners will be better off with the new plan. Yet support seems to be about 50/50 for the upcoming decision. Do the research for yourself on your County Property Appraiser's website and ask yourself this question. Do I accept a better bike than I have now, or do I refuse it and complain (and continue to suffer) that its not the best bike that can be made? Don't be a Billy. THINK ABOUT IT.

Below is an article from the Florida Association of Realtors® which was the inspiration for the story above.

A TAXING EFFECT

The analysis is in, and it’s ponderous. A comprehensive study of Florida property tax laws – ordered by the Florida Legislature and conducted by a team of economists from the University of Florida and Florida State University – was released yesterday. Issued in three parts, the entire study has 689 pages and sometimes-challenging text. But it does study the state’s property tax problems from all angles. For example, the study finds that only 9.2 percent of Florida households would be better off keeping their Save Our Homes exemption if the proposed property tax amendment passes in January – but the authors also note that far more would opt to keep SOH under that scenario. To download the complete report or any one of the three parts, go to: http://edr.state.fl.us/property%20tax%20study/property%20tax%20study.htm

© 2007 FLORIDA ASSOCIATION OF REALTORS ®

Fed Up With The Property Tax Issue?

2007-08-28T20:49:00.000-04:00

Well, do something about it. Attend a Taxing Authority budget hearing, speak your mind, ask questions, listen...learn, and be informed. I received an e-mail today from the local Association of Realtors® with the schedule of these hearings. Here's what it had to say (©2007 Greater Tampa Association of REALTORS®). These hearings are to finalize millage (tax) rates for property taxes. Here is the schedule for some of the budget hearings of the Hillsborough County taxing authorities. Property owners are invited to attend and inquire about millage rates for various jurisdictions and ask questions about the budgets. Please call to confirm the dates and times prior to attending!!!

TAXING AUTHORITY/PHONE 1st HEARING TIME HEARING LOCATION

Hillsborough County 813-272-5890 Sep 5th @ 6:00 p.m.
601 E. Kennedy Blvd Tampa

City of Tampa 813-274-8111 Sep 4th @ 5:01 p.m.
315 E. Kennedy Blvd Tampa

City of Temple Terrace 813-989-7103 Sep 4th @ 7:00 p.m.
11250 N 56th St Temple Terrace

City of Plant City 813-659-4200 Sep 10th @ 7:30 p.m.
302 W Reynolds St Plant City

School Board 813-272-4064 Sep 6th @ 5:01 p.m.
901 E. Kennedy Blvd Tampa

Transit Authority 813-623-5835 Sep 10th @ 5:30 p.m.
601 E. Kennedy Blvd Tampa

Children’s Board 813-229-2884 Sep 13th @ 5:01 p.m.
1002 E. Palm Ave Tampa

Water Management 352-796-7211 Sep 11th @ 5:01 p.m.
7601 Highway 301 N Tampa

Tampa Port Authority 813-905-5132 Sep 12th @ 5:01 p.m.
1101 Channelside Dr Tampa.

Choosing Your Tax Plan Just Got Easier

2007-08-09T22:19:00.001-04:00

With all the talk about the proposed "Super Exemption" being placed in front of Florida voters in January, there are a lot of misconceptions, and a down-right lack of understanding. I have been writing about the proposed plan for a while now, but for some of you, it just got a lot easier with property appraiser websites.

There is a new feature on the Hillsborough and Pinellas County Property Appraisers websites that allow you to calculate your taxable property value under the Super Exemption plan. While both sites are similar, there are a few minor differences. Essentially they allow you to compare the current Save Our Homes tax limitation against the proposed Super Exemption plan side by side to help give you an idea as to which plan may benefit you.

Before you go to either site, keep in mind a little professional opinion. In an "average", "stable" market, a 4% increase per year in market value is common. This will all make sense once you go to the Appraiser's site.

For Hillsborough County:
Go to the Hillsborough County Property Appraiser's Property Record Search page, linked here. Enter your name (last name, space, first name) and hit the search button. Once you find your property, click on it. Once on the page with your property info, just below the "Value Summary" you will see "Super Exemption Calculator". Click on it and a new page will pop up. The assessed value, market value and exemptions (if any) related to your property will automatically be filled in.

Now, from the drop down menu you will be asked to select a "Real Estate Appreciation" percentage. This is what I was referring to earlier. Personally, I think 4% is realistic. That's my opinion. Talk to a professional in your area for their opinion. Next, select the number of years into the future you would like to compare the plans, and hit "Calculate".

What you will see is the current Save Our Homes taxable value of your home on the left, year by year and the Super Exemption taxable value of your home on the right.

For Pinellas County:
Go to the Pinellas County Property Appraiser's main page, linked here. Less than half way down the page you will see "Super Exemption Calculator now available! Click here for complete information". After clicking that link, follow the easy instructions for finding your property. From there, this site is very similar to the directions I just gave you for Hillsborough County.

Was this information useful? Has it helped you come closer to deciding which plan is best for you? I want to here about it. Click on "Post A Comment" (below) and give me your 2 cents.

July Market Report

2007-08-06T19:58:00.001-04:00

Here is the real estate market report for July, 2007.

***Disclaimer***
The information I am posting is from a variety of resources and ultimately not all homes can possibly be accounted for due to public records errors, and the fact that there is no accurate comprehensive database for FSBO's (For Sale By Owner). Prices are rounded off for convenience and this data is for informational purposes only.

**Subscribe to my Blog to get notices of updated information and new articles! Just enter your e-mail address in the box below the For Sale By Andy logo!

JULY

Brandon
# Sold 65
Avg SP $253,000
Med SP $210,000
Avg DOM 92
Med DOM 75

Valrico
# Sold 66
Avg SP $272,000
Med SP $261,000
Avg DOM 91
Med DOM 78

Seffner
# Sold 13
Avg SP $193,000
Med SP $192,000
Avg DOM 49
Med DOM 35

Riverview
# Sold 99
Avg SP $223,000
Med SP $208,000
Avg DOM 86
Med DOM 67

Tampa
# Sold 658
Avg SP $313,000
Med SP $225,000
Avg DOM 105
Med DOM 80

Lithia
# Sold 27
Avg SP $344,000
Med SP $320,000
Avg DOM 97
Med DOM 81

Legend:
# Sold: Number of homes that sold during that month.
Avg SP: Average sold price of the homes sold.
Med SP: Median sold price of the homes sold.
Avg DOM: Average # of days those homes were active on the market.
Med DOM: Median # of days those homes were active on the market.

June Market Report

2007-08-06T19:45:00.000-04:00

Here is the real estate market report for June, 2007.

***Disclaimer***
The information I am posting is from a variety of resources and ultimately not all homes can possibly be accounted for due to public records errors, and the fact that there is no accurate comprehensive database for FSBO's (For Sale By Owner). Prices are rounded off for convenience and this data is for informational purposes only.

**Subscribe to my Blog to get notices of updated information and new articles! Just enter your e-mail address in the box below the For Sale By Andy logo!

JUNE

Brandon
# Sold 70
Avg SP $219,000
Med SP $193,000
Avg DOM 90
Med DOM 79

Valrico
# Sold 69
Avg SP $286,000
Med SP $275,000
Avg DOM 95
Med DOM 81

Seffner
# Sold 25
Avg SP $195,000
Med SP $178,000
Avg DOM 99
Med DOM 67

Riverview
# Sold 118
Avg SP $237,000
Med SP $223,000
Avg DOM 98
Med DOM 78

Tampa
# Sold 817
Avg SP $306,000
Med SP $238,000
Avg DOM 108
Med DOM 88

Lithia
# Sold 45
Avg SP $383,000
Med SP $337,000
Avg DOM 96
Med DOM 66

Legend:
# Sold: Number of homes that sold during that month.
Avg SP: Average sold price of the homes sold.
Med SP: Median sold price of the homes sold.
Avg DOM: Average # of days those homes were active on the market.
Med DOM: Median # of days those homes were active on the market.

Declining Sales Prices

2007-08-05T18:04:00.000-04:00

Real estate is an investment. Whether you buy a home for that reason or not, it is an investment. It is the largest purchase you are ever likely to make. Therefor, it should be looked at just as seriously as professional investors do. True investments are not short term in nature.

In real estate, owning a home for just one or two years IS short term. If you bought a home within the last two years and now want, or need to sell, then yes...it is going to be hard to avoid losing money. This would be the equivalent of buying stocks when they are on the way up and selling when they are on the way down. That's not what the pro's do.

Successful investors don't pay a lot of attention to short term numbers, they look at long term trends. So comparing home prices from five years ago, there has been a tremendous, steady gain. Many areas have seen a 50% - 80% increase over the past five years. So a small "loss" of 2% - 7% in prices in the last year or so is still a long term gain.

The doom and gloom (or Chicken Little Syndrome) many of us hear in the media circles is great for selling papers, or getting people to watch a particular channel, but should not be your primary source of information. Numbers being thrown around are general, not specific to a small enough area for anyone to take to heart. A general number isn't really a good rule of thumb for a state, a county, or even for one town.

For example, Eastern Hillsborough County is different from Western Hillsborough County. Brandon is different from Valrico. Copper Ridge (Valrico) is different from Brandon Brook (also Valrico), which is different from Buckhorn Estates (also Valrico). Do you see the point I'm making? If you truly have concerns about the market value of YOUR home, consult a professional who can look at YOUR area, it's trends and amenities, and apply that to YOUR specific home.

So, is the sky falling? No. Is it raining in a lot of areas? Yes. But don't go building an Ark just yet, the skies are showing signs of clearing up, and for the Tampa Metro area, the forecast is looking pretty promising.

For those interested...you can get a neighborhood trend report e-mailed to you without cost or commitment. Just send me an e-mail with your name and address. If you choose, you can also get updates when homes in a particular neighborhood go on the market and/or sell.

Best U.S. City To Buy A Home

2007-08-02T21:06:00.000-04:00

Forbes Magazine has recently released it's Top 10 List of the best places in America to buy a house. Who made the list? Where's the Best Place? Why is it number 1? Read on to find out.

Forbes Magazine (the on-line edition) teamed up with Moody's Economy.com to announce where they feel are the best places to buy a home...and why. First, what qualifies an area to be considered?

According to Forbes, some of the indicators are when an area has an overall strong, growing economy and comparably modest housing prices. The area must also be overstocked in real estate inventory with plenty of sellers anxious to negotiate. In addition, an area is prime for a market "bounce back" if it is seen as one where prices aren't likely to fall so drastically that buyers are getting in while the market is still sharply on the way down. These areas are typically referred to as "V" Shaped Recovery areas for their sharp decline, followed by a sharp rebound.

While ANY recovery would be a welcome site to all the people trying to sell their home right now, those who live in the areas that made the list may want to think of the "V" as in Victory. Ok, enough already! WHERE'S THE LIST?!?!?!

Here you go (in reverse order for dramatic effect!):

#10. Atlanta
# 9. New York City
# 8. Milwaukee
# 7. San Diego
# 6. Phoenix
# 5. Chicago
# 4. Kansas City
# 3. Miami
# 2. Minneapolis

And the Number One Place In The U.S. To Buy A Home Is.......

# 1. Tampa Bay!!!!!!!!!!

That's right! Tampa Bay. Forbes is saying that the Tampa/St Petersburg/Clearwater area is prime for a strong market recovery and calls it a "...highly resilient market." Projected job growth and a good economy set the tone for correcting the recent market down-turn, paired with investor-heavy inventory beginning to taper off. While Forbes is predicting a first quarter 2008 bottoming for the area, Tampa Metro is their pick for #1!

If you would like to search for homes currently available in the Greater Tampa area, click here.

Save Our Homes Exemption Answers

2007-07-26T19:25:00.000-04:00

I received a question from someone asking how they could determine if they have the Save Our Homes limitation on their homestead property. Since the answer varies from homeowner to homeowner, plus it was a very good question, I thought I would clear it up a little.

If you own a homestead property in Florida, and have had it since 2004 or earlier, then the answer is yes. If you bought and homesteaded a home in 2005, then last year (2006) you did not qualify for the Save Our Homes limitation, this tax year (2007, to be paid in early 2008) you do.

The Save Our Homes Amendment of the State's Constitution was approved by Florida voters in 1992 and put into effect in 1995. This amendment places a limitation of 3% on any annual assessment increases on Homestead Properties in Florida. However, the limitation does not apply the year following a change of ownership.

Residences without homestead, non-residential property, vacant land, tangible personal property, commercial property, and agricultural property, are not eligible for the amendment limitation.

Once the property has been conveyed to the new owner, it is raised to full market value January 1 of the following year. The new owner must apply for and receive homestead exemption. The year following the granting of homestead exemption the property is subject to the limitation.

However, if the new "Super Exemption" property tax plan passes in the January 29, 2008 statewide vote, everything changes. In many cases, you will pay less in property taxes...how much depends on whether or not the County Board of Commissioners changes the millage rate as well as if the County Property Appraiser re-assesses property values.

Example 1:
If the bill passes and millage rates and values are unchanged, your tax bill should go down, significantly.

Example 2:
If the bill passes, millage rates don't change, but assessed values are adjusted to realistic market values, your tax bill is still likely to go down from what you are paying now.

Everyone's specific situation is different and this is meant only to give you a general idea.

I have already contacted Congressman Adam Putnam's office (the Representative for my area) asking what the plans are if the bill passes. When I get an answer, I'll post it here. Subscribe to this blog in order to receive automatic updates from me on this and other topics involving home ownership.

5 Arrested In Mortgage Loan Scam

2007-07-25T16:36:00.000-04:00

Five people were arrested last week for their role in fleecing homeowners out of millions of dollars in bogus mortgages. So far it seems this group of low-lives preyed upon minorities, the elderly and the poor. Scott Almeida, Orson Benn, Adrienne White, Frank Giffone and Samuel Green were all picked up on numerous charges. Two of the five (Almeida and Giffone) were from the Tampa area.

Scott A. Almeida was arrested on 7/18/07 and so far faces 15 charges including 1 count of "RICO VIOLATION", 1 count of "RICO CONSPIRACY OR ENDEAVOR", 6 counts of "OBTAINING A MORTGAGE NOTE BY FALSE REPRESENTATION", and 7 counts of "GRAND THEFT SECOND DEGREE".

Frank S. Giffone, also arrested on 7/18/07, faces 18 charges including 2 counts of "RICO VIOLATION", 4 counts of "GRAND THEFT THIRD DEGREE", and 12 counts of "ACTING IN THE CAPACITY OF CONTRACTOR WITHOUT A LICENSE".

RICO stands for "Racketeer Influenced and Corrupt Organizations", which is a U.S. federal law enacted in 1970 that compounds the penalties of criminal acts performed as part of an ongoing criminal organization.

Almeida, Giffone and White, are all former owners, principals or employees of the Hillsborough County mortgage broker companies Advanced Mortgage Solutions and Consumer Lending Resources. In addition to the mortgage brokerage businesses, the defendants operated two home improvement companies: Premier Quality Renovations and Florida Beautiful Construction. Almeida and Giffone convinced mostly minority homeowners in poor areas of Florida to take out home loans to finance significant home improvements. The pair then submitted loan applications that included false, forged or counterfeit documents. The scam continued with Benn and Green abusing their positions at Argent Mortgage (White Plains, N.Y.) by approving the fraudulent documents and loan packages, then distributing the funds amongst the group. The victims in these situations were now on the hook for these loans and of course, little or no improvements were actually made by the group.

According to the Florida Department of Law Enforcement, in total, Almeida and his associates, through various mortgage broker businesses, have submitted approximately 180 loans through Argent Mortgage Company totaling nearly $18 million. At least 129 of these loans were funded in the amount of approximately $13 million.

State Attorney General Bill McCollum said, "The allegations brought against these individuals are unspeakable. To prey on the hopes and dreams of these people who were simply trying to improve their homes is a terrible scheme and my office is committed to prosecuting those involved to the fullest extent of the law. I commend the cooperation exhibited by this investigation and look forward to a positive resolution for the citizens who were victimized."

The investigation began 3 years ago and the results are a compliment to the multi-agency cooperation between the Tampa Police Department (TPD), Hillsborough County Consumer Protection Agency (HCCPA), Pinellas County Department of Justice and Consumer Services (PCDJCS), Florida Attorney General's Office of Statewide Prosecution (OSWP), and the Florida Department of Law Enforcement (FDLE).

This is just one example of the numerous scams that are out there. If you feel you have been the victim of a scam, contact your local police department, or in Hillsborough County Florida, call Kevin Jackson, Chief Investigator at the Hillsborough Consumer Protection Agency 813-903-3425. Brush up your awareness on some other scams by reading other articles I have posted:

Property Deed Scam
Cash Back At Closing Scams
Urgent Message

Thinking About A Home Warranty?

2007-07-17T18:48:00.000-04:00

What is a home warranty?
A home warranty is a one year residential service contract that provides repair or replacement coverage for the major operating systems and appliances that fail in a home due to normal wear and tear.

Guest Author:
Loretta Johnson
First American Home Warranty

Home Buyers’ Benefits :
Move in with assurance knowing your home is covered. You are covered for unexpected home repair or replacement costs on many of your home’s major systems and appliances. Coverage is regardless of the age, make, size or model of the systems or appliances. No “Obsolete Parts Clause”. If it can’t be fixed, we will replace it (*Subject to terms of contract). It only takes a phone call and a small service fee to fix the problem. Service is available 24 hours a day, 365 days a year. You’ll have budget protection knowing you only have to pay a nominal service fee per trade call.

Home Sellers’ Benefits:
Sell with confidence. Having a home warranty as an additional feature will give you a competitive edge over other homes on the market. Buyers have more confidence in your home and there is usually less negotiating in getting closer to your asking price. If something breaks after the sale, there is limited liability for you. Buyers will contact the warranty company rather than calling you. Protect your budget, one major breakdown before or during the sale of your home can very costly and delay things.

A home warranty is just the “life saver” you need to add value and security to resale homes. In today‘s market, sellers and Realtors® alike are looking for ways to bring attention to their properties and something to make them shine over their competition. More and more, buyers are asking for the after sale protection from unexpected breakdowns of the homes major systems and appliances.

Home warranties typically cover major components, such as HVAC systems, plumbing, electrical and hot water heaters to name a few. It is always important to review the brochure for specific coverage details or to call your local representative. Considering the thousands of dollars in items covered by a home warranty, it is a very affordable “safety net” for budget protection, and in fact, a real bargain. Do not buy or sell your home without one, everyone benefits! A First American Home Protection Plan can make buying or selling a home a rewarding experience for everyone involved.

Did you know?
-A customer uses their warranty 2 times on average? If they didn’t have the warranty, then the expense for the repair would be out of pocket.
-In 2006, we saved contract holders over $119 million on their covered systems and appliances.
-Last year, we responded to more than 900,000 service requests.
-Rated “A” Excellent by A. M. Best.
-We have the financial strength to protect their customers.
-We have been providing quality service since 1984.
-13 SEER air conditioning coverage.
-No extra charge for multiple systems.

This "Guest Author" installment was contributed by:
Loretta Johnson
First American Home Warranty
www.homewarranty.firstam.com

Brandon/Valrico Area Gets Railroaded By Transit Plan

2007-07-03T12:46:00.000-04:00

The headline of today's METRO section of the Tampa Tribune reads: "Getting Bay Area's Transit Act Together". Perhaps it should have been: "Regional Transit Workgroup Missed Their Train". The Bay Area has long needed a viable mass transit system not only to ease current congestion, but to be in position to handle future growth. Numerous plans in the past for a true transit system lacked support and never really developed further than "planners" taking a red felt-tip pen to a $3.99 folding map.

This time things seem to be a little different with Governor Crist signing into law the "Bay Area Regional Transportation Authority" (BARTA), as well as Florida's Department of Transportation seeking local plans for routes. A group from 6 counties, formed by Pinellas County Commission Chair Ronnie Duncan, provided the Tampa Tribune with a map, outlining proposed regional rail, bus and ferry routes. If you don't have a subscription to the Tampa Tribune, pick up today's edition on your way home or go to their website and take a look at it.

Alright, so why the title, "Brandon/Valrico Area Gets Railroaded By Transit Plan" you ask? Only 2 options on this map even come close to the Brandon/Valrico/Riverview area. One is an "enhanced" bus line running up Interstate 75, but diverting West towards Tampa before Adamo Drive/Brandon Boulevard. The other is a rail transit line connecting Tampa to Plant City and Lakeland. However, this path really only touches North Brandon/South Seffner on it's way.

The Tribune quotes Duncan as saying, "This is about offering options, we're sitting in traffic more and more, and every year that goes by it gets worse.". Well excuse me, but has he or anyone on his panel ever even heard of Brandon? As a Realtor®, I can't tell you how many times I have been showing a home to a prospective buyer and heard them say, "Oh, gee I don't know. It seems awfully close to the train tracks.", only to hear them say that at the next 4 homes in different communities. I'm sure many others in my profession locally can relate. My point? Brandon, Valrico and Riverview (BranRicoView - catchy, don't you think?) are riddled with existing tracks in use by CSX. How did the planning group overlook that area?

For those of you who aren't aware of just how busy this area has become, let me throw some numbers at you. Below are the DAILY automobile traffic counts for the 3 main roadways leading into/out of the BranRicoView area. (Source: Hillsborough County Transportation website)

Brandon Blvd:
Falkenburg Rd to Lakewood Dr..........99,000
Lakewood Dr to Lithia Pinecrest Rd.....76,200

Bloomingdale Ave:
US HWY 301 to Kings Ave......43,600
Kings Ave to Bell Shoals Rd.....49,800

Lumsden Rd/Causeway Blvd:
Providence Rd to Kings Ave.............47,500
Falkenburg Rd to Providence Rd........68,600

Again, those are DAILY counts...and just for those 3 roads. Keep in mind, these roads bring commuters to the Crosstown Expressway (cough, too little too late, cough) and Interstate 75 (cough, parking lot, cough), where you can now BEGIN your commute. Anyone who has driven in BranRicoView more than once can attest to the number of trail tracks. So the options are there, why not ease congestion and turn the railways into a double positive? Instead of new residents not wanting to be close to noisy tracks, perhaps they would WANT to be close to commuter rail stations.

Let's see...plenty of existing CSX tracks to choose from, the opportunity to reduce traffic in a high volume (growing) area, and offer positive options to tens of thousands of commuters and voters. It makes perfect sense to completely avoid BranRicoView, Tampa's most populated neighbor to the East.

Don't misunderstand me, I am completely in support of an efficient, effective transit system in the Bay Area. I believe it's necessary for the area to become a major player in attracting large companies (and the jobs they would create) and hosting significant national and international events. But a transit plan that doesn't adequately address this densely populated area is flawed, in my opinion.

If you feel strongly enough about future tax dollars being spent on a transit system that ignores the (arguably) most congested part of Eastern Hillsborough County, please contact the Regional Transit Workgroup's founding member, Ronnie Duncan, and politely point out the oversight.

How Does Your Property Insurance Compare?

2007-07-01T19:15:00.000-04:00

While property taxes are the subject of a lot of conversation right now, property insurance has taken a bit of a back seat to it. Those living in Florida will remember that just a year ago many were getting cancellation notices or substantial increases in their annual premiums. Last week Governor Charlie Crist announced the launch of a new state-run website that serves as a starting point to help Floridians find the insurance policy best suited to their needs.

The website is: http://www.shopandcomparerates.com/ and here is how it works. Once on http://www.shopandcomparerates.com/, click on the button at the bottom to compare homeowner insurance rates, then select a county. A box will pop up showing you the cost to insure a fictional house in that county. The list of insurance companies is sorted from the lowest to highest cost. While you can't change the criteria of the "fictional house", it gives you an idea of comparable rates from different companies all in one place. The fictional house the website uses as an example is a five-year-old, concrete block home, with a current replacement value of $150,000, a $500 non-hurricane deductible, a 2 percent hurricane deductible, no claims and no wind mitigation discounts.

To see how your home would compare to what you currently have, you can click on the insurance company's name to get their phone number and website, then contact them with your specific needs.

Florida Home Inspector Licensing Law

2007-06-28T21:28:00.001-04:00

Quick quiz for you. What industry licensing, experience, and educational requirements does Florida Law require Home Inspectors to have. It may surprise you to learn that the answer is ZERO. While Realtors® and other professionals have tried for years to get the State to recognize the need for for such regulations, it is only now that something is being done about it.

Governor Charlie Crist just signed a bill (SB2234) into law that addresses this need. What this law does, is create the groundwork for a program to require licensing of home inspectors, mold assessors and remediators in Florida. Finally gaining enough support to materialize, the Legislature hopes this will "...ensure that consumers of home inspection services can rely on the competence of home inspectors..."

The good news is that this new law will require 120 hours of pre-license education and 14 hours of continuing education every two years. The bad news? The law doesn't go into effect for 3 more years (July 1, 2010). Over the next three years the Department of Business and Professional Regulation (DBPR) will create a program for certification, establish licensing fees and draft rules.

Phase 1 Of Tax Plan Is Now The Law

2007-06-24T21:59:00.000-04:00

On Thursday June 21, 2007 Gov. Charlie Crist signed into law the first phase of property tax reform which means a savings of about 6 or 7 percent to all property owners, including second homes and commercial property.

This is just the first phase, so Florida property owners shouldn't be disappointed on a relatively small first year's savings, estimated to be around $174 - $199. Florida voters will decide in late January, 2008 whether to adopt the second half of the plan.

If passed, the bipartisan law could slash up to $15.6 billion in local property taxes during the first five years. But those reductions would be spread across all classes of property. The Republican-sponsored constitutional amendment, however, could increase the total five-year cut to $31.6 billion, with owners of primary homes benefiting the most.

Critics of the plan (largely made up of Democrats, local officials, and labor unions) say the amendment is flawed for two reasons. First, they feel the amendment would cut too deeply into the budgets of cities, counties and school boards. Second, most of the savings would go to homesteads, which they say already receive substantial tax breaks. Opponents say the plan does not adequately help other residential properties and businesses hardest hit by real estate values that have skyrocketed in the last for or five years..

Florida Voters To Decide Property Tax Fate

2007-06-10T20:59:00.000-04:00

After regular sessions, special sessions and meetings in between, the Florida House and Senate have outlined more details on their property tax proposal. While the percentages of the exemptions are not as large as the first draft by House Speaker Marco Rubio (R-West Miami), they still mean significant savings to Florida home owners. More than $31 billion over the next 5 years, to be exact. Now, the voters in Florida will be voicing their opinions about more than Presidential Primaries come late January, 2008.

Here's how the proposed tiered property tax percentages would work:.

Homes valued up to $200,000: Properties would be taxed on 25% of their market value. There would be a minimum tax exemption of $50,000 (double the current homestead exemption of a flat $25,000). The next $300,000 of value would receive a 15% exemption. Let's take a look at a comparison between the proposal and the current Homestead Exemption.

Example 1, Value: $190,000
Proposed Plan: $190,000 x 25% = $47,500. Homeowner would pay property taxes on $47,500.
Current Exemption: $190,000 - $25,000 = $165,000. Homeowner pays property taxes on $165,000.

Example 2, Value: $350,000
Proposed Plan: $200,000 x 25% = $50,000 (Tier 1). $150,000 x 85% = $127,500 (Tier 2).
$50,000 + $127,500 = $177,500. Homeowner would pay property taxes on $177,500.
Current Exemption: $350,000 - $25,000 = $325,000. Homeowner pays property taxes on $325,000.

Future property tax increases, and their revenues, would be capped to coincide with personal income growth and new construction. Existing exemptions for disabled veterans, low income seniors, and agricultural land will not be eliminated by this plan.

This plan also calls for a current government "freeze" of this years revenue, then cut an additional percentage. In Hillsborough County the cut is 5%. That means trimming about $40 Million dollars worth of fat from the county budget. Those opposed to the new plan claim that the only way to free up that kind of money and receive less in the way of taxes is to cut some programs and drastically scale down others. The first things mentioned in the argument are closing fire stations, reducing head counts by laying off police, firefighters and EMT's, and closing libraries.

While the detailed amounts of the financial impact to the counties is not yet available, the implied economic doom and gloom has one flaw that can not be ignored. Property taxes and insurance have many potential homebuyers playing the waiting game. In a time where foreclosures are increasing, and others are worrying about it, out of control taxes and insurance have not helped the current real estate market condition. Many are afraid of buying a home right now, meanwhile the inventory of homes on the market are moving slower. With insurance issues beginning to be addressed in Tallahassee, a huge (tax) burden being relieved may be just what the doctor ordered...and just in time. More choices of insurers and dramatic tax reform could have a hand in kick starting a more active real estate market. Buyer confidence in attaining an affordable home means sellers may be able to breathe a little easier. After all, not everyone who is selling their house is moving out of the state. They may simply be moving up, downsizing, etc. Many of these sellers are also buyers...buyers who understand what the sellers are going through.

Over the next 6 to 7 months arguments for and against the proposed plan will be headline news across this state. It's as inevitable as the 3:00pm - 6:00pm thunderstorm on a Florida summer afternoon.

As more details find their way to the surface, I'll be sure to post them here. Don't forget to enter your e-mail address on this page to subscribe to updates. In the meantime, feel free to explore other articles in the archive.

Florida Property Tax Reform Plan Decided, Almost

2007-06-06T11:37:00.000-04:00

During a committee meeting earlier this week, the Florida Legislature took a big step forward in addressing a property tax reform plan. There is still a special legislative session set for June 12-22, but the reform plan is getting a little clearer. Here is what they agreed on.

Florida voters will have their say on property tax changes and restructuring proposals towards the end of January, 2008. Why then? To coincide with the presidential primary election. (The Legislature recently passed a new law that moved the primary from March to January to give Florida more influence on choosing presidential candidates.) Keep in mind that the state can not simply wave a wand and make major changes to property taxes, it takes a constitutional amendment to reform the system that is used.

House Speaker Marco Rubio (R-West Miami) and Senate President Ken Pruitt (R-Port St. Lucie) agreed last week on a basic outline for property tax reform. The plan would eliminate the current $25,000 homestead exemption for primary homes and likely most cases of the Save Our Homes Amendment. It would be replaced with a tiered, percentage-based exemption on primary homes.

For examples of this approach, see my earlier article on this here.

The Save Our Homes benefits would only be spared if they are better than the new plan, depending on each individual homeowner's scenario.

Exactly what percentages are to be used in each tier has not yet been agreed upon, but will be worked out while they hammer out the other details of the plan.

There also is an agreement for short term relief without an amendment, mostly addressing local government cuts based on recent increases and capping future taxes. Schools, they said, would be exempt from those tax cuts.

May Market Report

2007-06-04T20:24:00.000-04:00

Here is the real estate market report for May, 2007.

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MAY

Brandon
# Sold 64
Avg SP $244,000
Med SP $220,000
Avg DOM 96
Med DOM 78

Valrico
# Sold 69
Avg SP $278,000
Med SP $275,000
Avg DOM 95
Med DOM 74

Seffner
# Sold 21
Avg SP $195,000
Med SP $180,000
Avg DOM 154
Med DOM 134

Riverview
# Sold 108
Avg SP $235,000
Med SP $221,000
Avg DOM 99
Med DOM 75

Tampa
# Sold 630
Avg SP $291,000
Med SP $215,000
Avg DOM 108
Med DOM 76

Lithia
# Sold 23
Avg SP $392,000
Med SP $319,000
Avg DOM 131
Med DOM 107

Legend:
# Sold: Number of homes that sold during that month.
Avg SP: Average sold price of the homes sold.
Med SP: Median sold price of the homes sold.
Avg DOM: Average # of days those homes were active on the market.
Med DOM: Median # of days those homes were active on the market.

Code Of Ethics, National Association of Realtors®

2007-06-02T13:41:00.000-04:00

You've all seen the commercials on tv. The National Association of Realtors® (NAR®) mentions that Realtors® subscribe to a strict Code of Ethics. Well, as a means of providing you with the right information so you can make the best decision for you, I am posting the Code of Ethics here, with permission from NAR®.

Code of Ethics and Standards of Practice
of the NATIONAL ASSOCIATION OF REALTORS®
Effective January 1, 2006

Where the word REALTORS® is used in this Code and Preamble, it shall be deemed to include REALTOR-ASSOCIATE®s.

While the Code of Ethics establishes obligations that may be higher than those mandated by law, in any instance where the Code of Ethics and the law conflict, the obligations of the law must take precedence.

Preamble
Under all is the land. Upon its wise utilization and widely allocated ownership depend the survival and growth of free institutions and of our civilization. REALTORS® should recognize that the interests of the nation and its citizens require the highest and best use of the land and the widest distribution of land ownership. They require the creation of adequate housing, the building of functioning cities, the development of productive industries and farms, and the preservation of a healthful environment.

Such interests impose obligations beyond those of ordinary commerce. They impose grave social responsibility and a patriotic duty to which REALTORS® should dedicate themselves, and for which they should be diligent in preparing themselves. REALTORS®, therefore, are zealous to maintain and improve the standards of their calling and share with their fellow REALTORS® a common responsibility for its integrity and honor.

In recognition and appreciation of their obligations to clients, customers, the public, and each other, REALTORS® continuously strive to become and remain informed on issues affecting real estate and, as knowledgeable professionals, they willingly share the fruit of their experience and study with others. They identify and take steps, through enforcement of this Code of Ethics and by assisting appropriate regulatory bodies, to eliminate practices which may damage the public or which might discredit or bring dishonor to the real estate profession. REALTORS® having direct personal knowledge of conduct that may violate the Code of Ethics involving misappropriation of client or customer funds or property, willful discrimination, or fraud resulting in substantial economic harm, bring such matters to the attention of the appropriate Board or Association of REALTORS®. (Amended 1/00)

Realizing that cooperation with other real estate professionals promotes the best interests of those who utilize their services, REALTORS® urge exclusive representation of clients; do not attempt to gain any unfair advantage over their competitors; and they refrain from making unsolicited comments about other practitioners. In instances where their opinion is sought, or where REALTORS® believe that comment is necessary, their opinion is offered in an objective, professional manner, uninfluenced by any personal motivation or potential advantage or gain.

The term REALTOR® has come to connote competency, fairness, and high integrity resulting from adherence to a lofty ideal of moral conduct in business relations. No inducement of profit and no instruction from clients ever can justify departure from this ideal.

In the interpretation of this obligation, REALTORS® can take no safer guide than that which has been handed down through the centuries, embodied in the Golden Rule, “Whatsoever ye would that others should do to you, do ye even so to them.”

Accepting this standard as their own, REALTORS® pledge to observe its spirit in all of their activities and to conduct their business in accordance with the tenets set forth below.

Duties to Clients and Customers

Article 1
When representing a buyer, seller, landlord, tenant, or other client as an agent, REALTORS® pledge themselves to protect and promote the interests of their client. This obligation to the client is primary, but it does not relieve REALTORS® of their obligation to treat all parties honestly. When serving a buyer, seller, landlord, tenant or other party in a non-agency capacity, REALTORS® remain obligated to treat all parties honestly. (Amended 1/01)

• Standard of Practice 1-1
REALTORS®, when acting as principals in a real estate transaction, remain obligated by the duties imposed by the Code of Ethics. (Amended 1/93)

• Standard of Practice 1-2
The duties the Code of Ethics imposes are applicable whether REALTORS® are acting as agents or in legally recognized non-agency capacities except that any duty imposed exclusively on agents by law or regulation shall not be imposed by this Code of Ethics on REALTORS® acting in non-agency capacities.

As used in this Code of Ethics, “client” means the person(s) or entity(ies) with whom a REALTOR® or a REALTOR®’s firm has an agency or legally recognized non-agency relationship; “customer” means a party to a real estate transaction who receives information, services, or benefits but has no contractual relationship with the REALTOR® or the REALTOR®’s firm; “prospect” means a purchaser, seller, tenant, or landlord who is not subject to a representation relationship with the REALTOR® or REALTOR®’s firm; “agent” means a real estate licensee (including brokers and sales ASSOCIATEs) acting in an agency relationship as defined by state law or regulation; and “broker” means a real estate licensee (including brokers and sales ASSOCIATEs) acting as an agent or in a legally recognized non-agency capacity. (Adopted 1/95, Amended 1/04)

• Standard of Practice 1-3
REALTORS®, in attempting to secure a listing, shall not deliberately mislead the owner as to market value.

• Standard of Practice 1-4
REALTORS®, when seeking to become a buyer/tenant representative, shall not mislead buyers or tenants as to savings or other benefits that might be realized through use of the REALTOR®’s services. (Amended 1/93)

• Standard of Practice 1-5
REALTORS® may represent the seller/landlord and buyer/tenant in the same transaction only after full disclosure to and with informed consent of both parties. (Adopted 1/93)

• Standard of Practice 1-6
REALTORS® shall submit offers and counter-offers objectively and as quickly as possible. (Adopted 1/93, Amended 1/95)

• Standard of Practice 1-7
When acting as listing brokers, REALTORS® shall continue to submit to the seller/landlord all offers and counter-offers until closing or execution of a lease unless the seller/landlord has waived this obligation in writing. REALTORS® shall not be obligated to continue to market the property after an offer has been accepted by the seller/landlord. REALTORS® shall recommend that sellers/ landlords obtain the advice of legal counsel prior to acceptance of a subsequent offer except where the acceptance is contingent on the termination of the pre-existing purchase contract or lease. (Amended 1/93)

• Standard of Practice 1-8
REALTORS®, acting as agents or brokers of buyers/tenants, shall submit to buyers/tenants all offers and counter-offers until acceptance but have no obligation to continue to show properties to their clients after an offer has been accepted unless otherwise agreed in writing. REALTORS®, acting as agents or brokers of buyers/tenants, shall recommend that buyers/tenants obtain the advice of legal counsel if there is a question as to whether a pre-existing contract has been terminated. (Adopted 1/93, Amended 1/99)

• Standard of Practice 1-9
The obligation of REALTORS® to preserve confidential information (as defined by state law) provided by their clients in the course of any agency relationship or non-agency relationship recognized by law continues after termination of agency relationships or any non-agency relationships recognized by law. REALTORS® shall not knowingly, during or following the termination of professional relationships with their clients:
1) reveal confidential information of clients; or
2) use confidential information of clients to the disadvantage of clients; or
3) use confidential information of clients for the REALTOR®’s advantage or the advantage of third parties unless:
a) clients consent after full disclosure; or
b) REALTORS® are required by court order; or
c) it is the intention of a client to commit a crime and the information is necessary to prevent the crime; or
d) it is necessary to defend a REALTOR® or the REALTOR®’s employees or ASSOCIATEs against an accusation of wrongful conduct.

Information concerning latent material defects is not considered confidential information under this Code of Ethics. (Adopted 1/93, Amended 1/01)

• Standard of Practice 1-10
REALTORS® shall, consistent with the terms and conditions of their real estate licensure and their property management agreement, competently manage the property of clients with due regard for the rights, safety and health of tenants and others lawfully on the premises. (Adopted 1/95, Amended 1/00)

• Standard of Practice 1-11
REALTORS® who are employed to maintain or manage a client’s property shall exercise due diligence and make reasonable efforts to protect it against reasonably foreseeable contingencies and losses. (Adopted 1/95)

• Standard of Practice 1-12
When entering into listing contracts, REALTORS® must advise sellers/landlords of:
1) the REALTOR®’s company policies regarding cooperation and the amount(s) of any compensation that will be offered to subagents, buyer/tenant agents, and/or brokers acting in legally recognized non-agency capacities;
2) the fact that buyer/tenant agents or brokers, even if compensated by listing brokers, or by sellers/landlords may represent the interests of buyers/tenants; and
3) any potential for listing brokers to act as disclosed dual agents, e.g. buyer/tenant agents. (Adopted 1/93, Renumbered 1/98, Amended 1/03)

• Standard of Practice 1-13
When entering into buyer/tenant agreements, REALTORS® must advise potential clients of:
1) the REALTOR®’s company policies regarding cooperation;
2) the amount of compensation to be paid by the client;
3) the potential for additional or offsetting compensation from other brokers, from the seller or landlord, or from other parties;
4) any potential for the buyer/tenant representative to act as a disclosed dual agent, e.g. listing broker, subagent, landlord’s agent, etc., and
5) the possibility that sellers or sellers’ representatives may not treat the existence, terms, or conditions of offers as confidential unless confidentiality is required by law, regulation, or by any confidentiality agreement between the parties. (Adopted 1/93, Renumbered 1/98, Amended 1/06)

• Standard of Practice 1-14
Fees for preparing appraisals or other valuations shall not be contingent upon the amount of the appraisal or valuation. (Adopted 1/02)

• Standard of Practice 1-15
REALTORS®, in response to inquiries from buyers or cooperating brokers shall, with the sellers’ approval, disclose the existence of offers on the property. Where disclosure is authorized, REALTORS® shall also disclose whether offers were obtained by the listing licensee, another licensee in the listing firm, or by a cooperating broker. (Adopted 1/03, Amended 1/06)

Article 2
REALTORS® shall avoid exaggeration, misrepresentation, or concealment of pertinent facts relating to the property or the transaction. REALTORS® shall not, however, be obligated to discover latent defects in the property, to advise on matters outside the scope of their real estate license, or to disclose facts which are confidential under the scope of agency or non-agency relationships as defined by state law. (Amended 1/00)

• Standard of Practice 2-1
REALTORS® shall only be obligated to discover and disclose adverse factors reasonably apparent to someone with expertise in those areas required by their real estate licensing authority. Article 2 does not impose upon the REALTOR® the obligation of expertise in other professional or technical disciplines. (Amended 1/96)
• Standard of Practice 2-2
(Renumbered as Standard of Practice 1-12 1/98)

• Standard of Practice 2-3
(Renumbered as Standard of Practice 1-13 1/98)

• Standard of Practice 2-4
REALTORS® shall not be parties to the naming of a false consideration in any document, unless it be the naming of an obviously nominal consideration.

• Standard of Practice 2-5
Factors defined as “non-material” by law or regulation or which are expressly referenced in law or regulation as not being subject to disclosure are considered not “pertinent” for purposes of Article 2. (Adopted 1/93)

Article 3
REALTORS® shall cooperate with other brokers except when cooperation is not in the client’s best interest. The obligation to cooperate does not include the obligation to share commissions, fees, or to otherwise compensate another broker. (Amended 1/95)

• Standard of Practice 3-1
REALTORS®, acting as exclusive agents or brokers of sellers/ landlords, establish the terms and conditions of offers to cooperate. Unless expressly indicated in offers to cooperate, cooperating brokers may not assume that the offer of cooperation includes an offer of compensation. Terms of compensation, if any, shall be ascertained by cooperating brokers before beginning efforts to accept the offer of cooperation. (Amended 1/99)

• Standard of Practice 3-2
REALTORS® shall, with respect to offers of compensation to another REALTOR®, timely communicate any change of compensation for cooperative services to the other REALTOR® prior to the time such REALTOR® produces an offer to purchase/lease the property. (Amended 1/94)

• Standard of Practice 3-3
Standard of Practice 3-2 does not preclude the listing broker and cooperating broker from entering into an agreement to change cooperative compensation. (Adopted 1/94)

• Standard of Practice 3-4
REALTORS®, acting as listing brokers, have an affirmative obligation to disclose the existence of dual or variable rate commission arrangements (i.e., listings where one amount of commission is payable if the listing broker’s firm is the procuring cause of sale/lease and a different amount of commission is payable if the sale/lease results through the efforts of the seller/landlord or a cooperating broker). The listing broker shall, as soon as practical, disclose the existence of such arrangements to potential cooperating brokers and shall, in response to inquiries from cooperating brokers, disclose the differential that would result in a cooperative transaction or in a sale/lease that results through the efforts of the seller/landlord. If the cooperating broker is a buyer/tenant representative, the buyer/tenant representative must disclose such information to their client before the client makes an offer to purchase or lease. (Amended 1/02)

• Standard of Practice 3-5
It is the obligation of subagents to promptly disclose all pertinent facts to the principal’s agent prior to as well as after a purchase or lease agreement is executed. (Amended 1/93)

• Standard of Practice 3-6
REALTORS® shall disclose the existence of accepted offers, including offers with unresolved contingencies, to any broker seeking cooperation. (Adopted 5/86, Amended 1/04)

• Standard of Practice 3-7
When seeking information from another REALTOR® concerning property under a management or listing agreement, REALTORS® shall disclose their REALTOR® status and whether their interest is personal or on behalf of a client and, if on behalf of a client, their representational status. (Amended 1/95)

• Standard of Practice 3-8
REALTORS® shall not misrepresent the availability of access to show or inspect a listed property. (Amended 11/87)

Article 4
REALTORS® shall not acquire an interest in or buy or present offers from themselves, any member of their immediate families, their firms or any member thereof, or any entities in which they have any ownership interest, any real property without making their true position known to the owner or the owner’s agent or broker. In selling property they own, or in which they have any interest, REALTORS® shall reveal their ownership or interest in writing to the purchaser or the purchaser’s representative. (Amended 1/00)
• Standard of Practice 4-1
For the protection of all parties, the disclosures required by Article 4 shall be in writing and provided by REALTORS® prior to the signing of any contract. (Adopted 2/86)

Article 5
REALTORS® shall not undertake to provide professional services concerning a property or its value where they have a present or contemplated interest unless such interest is specifically disclosed to all affected parties.

Article 6
REALTORS® shall not accept any commission, rebate, or profit on expenditures made for their client, without the client’s knowledge and consent.

When recommending real estate products or services (e.g., homeowner’s insurance, warranty programs, mortgage financing, title insurance, etc.), REALTORS® shall disclose to the client or customer to whom the recommendation is made any financial benefits or fees, other than real estate referral fees, the REALTOR® or REALTOR®’s firm may receive as a direct result of such recommendation. (Amended 1/99)

• Standard of Practice 6-1
REALTORS® shall not recommend or suggest to a client or a customer the use of services of another organization or business entity in which they have a direct interest without disclosing such interest at the time of the recommendation or suggestion. (Amended 5/88)

Article 7
In a transaction, REALTORS® shall not accept compensation from more than one party, even if permitted by law, without disclosure to all parties and the informed consent of the REALTOR®’s client or clients. (Amended 1/93)

Article 8
REALTORS® shall keep in a special account in an appropriate financial institution, separated from their own funds, monies coming into their possession in trust for other persons, such as escrows, trust funds, clients’ monies, and other like items.

Article 9
REALTORS®, for the protection of all parties, shall assure whenever possible that all agreements related to real estate transactions including, but not limited to, listing and representation agreements, purchase contracts, and leases are in writing in clear and understandable language expressing the specific terms, conditions, obligations and commitments of the parties. A copy of each agreement shall be furnished to each party to such agreements upon their signing or initialing. (Amended 1/04)

• Standard of Practice 9-1
For the protection of all parties, REALTORS® shall use reasonable care to ensure that documents pertaining to the purchase, sale, or lease of real estate are kept current through the use of written extensions or amendments. (Amended 1/93)

Duties to the Public

Article 10
REALTORS® shall not deny equal professional services to any person for reasons of race, color, religion, sex, handicap, familial status, or national origin. REALTORS® shall not be parties to any plan or agreement to discriminate against a person or persons on the basis of race, color, religion, sex, handicap, familial status, or national origin. (Amended 1/90)

REALTORS®, in their real estate employment practices, shall not discriminate against any person or persons on the basis of race, color, religion, sex, handicap, familial status, or national origin. (Amended 1/00)

• Standard of Practice 10-1
When involved in the sale or lease of a residence, REALTORS® shall not volunteer information regarding the racial, religious or ethnic composition of any neighborhood nor shall they engage in any activity which may result in panic selling, however, REALTORS® may provide other demographic information. (Adopted 1/94, Amended 1/06)

• Standard of Practice 10-2
When not involved in the sale or lease of a residence, REALTORS® may provide demographic information related to a property, transaction or professional assignment to a party if such demographic information is (a) deemed by the REALTOR® to be needed to assist with or complete, in a manner consistent with Article 10, a real estate transaction or professional assignment and (b) is obtained or derived from
a recognized, reliable, independent, and
impartial source. The source of such information and any additions, deletions, modifications, interpretations, or other changes shall be disclosed in reasonable detail. (Adopted 1/05, Renumbered 1/06)

• Standard of Practice 10-3
REALTORS® shall not print, display or circulate any statement or advertisement with respect to selling or renting of a property that indicates any preference, limitations or discrimination based on race, color, religion, sex, handicap, familial status, or national origin. (Adopted 1/94, Renumbered 1/05 and 1/06)

• Standard of Practice 10-4
As used in Article 10 “real estate employment practices” relates to employees and independent contractors providing real estate-related services and the administrative and clerical staff directly supporting those individuals. (Adopted 1/00, Renumbered 1/05 and 1/06)

Article 11
The services which REALTORS® provide to their clients and customers shall conform to the standards of practice and competence which are reasonably expected in the specific real estate disciplines in which they engage; specifically, residential real estate brokerage, real property management, commercial and industrial real estate brokerage, real estate appraisal, real estate counseling, real estate syndication, real estate auction, and international real estate.

REALTORS® shall not undertake to provide specialized professional services concerning a type of property or service that is outside their field of competence unless they engage the assistance of one who is competent on such types of property or service, or unless the facts are fully disclosed to the client. Any persons engaged to provide such assistance shall be so identified to the client and their contribution to the assignment should be set forth. (Amended 1/95)

• Standard of Practice 11-1
When REALTORS® prepare opinions of real property value or price, other than in pursuit of a listing or to assist a potential purchaser in formulating a purchase offer, such opinions shall include the following:
1) identification of the subject property
2) date prepared
3) defined value or price
4) limiting conditions, including statements of purpose(s) and intended user(s)
5) any present or contemplated interest, including the possibility of representing the seller/landlord or buyers/tenants
6) basis for the opinion, including applicable market data
7) if the opinion is not an appraisal, a statement to that effect (Amended 1/01)

• Standard of Practice 11-2
The obligations of the Code of Ethics in respect of real estate disciplines other than appraisal shall be interpreted and applied in accordance with the standards of competence and practice which clients and the public reasonably require to protect their rights and interests considering the complexity of the transaction, the availability of expert assistance, and, where the REALTOR® is an agent or subagent, the obligations of a fiduciary. (Adopted 1/95)

• Standard of Practice 11-3
When REALTORS® provide consultive services to clients which involve advice or counsel for a fee (not a commission), such advice shall be rendered in an objective manner and the fee shall not be contingent on the substance of the advice or counsel given. If brokerage or transaction services are to be provided in addition to consultive services, a separate compensation may be paid with prior agreement between the client and REALTOR®. (Adopted 1/96)

• Standard of Practice 11-4
The competency required by Article 11 relates to services contracted for between REALTORS® and their clients or customers; the duties expressly imposed by the Code of Ethics; and the duties imposed by law or regulation. (Adopted 1/02)

Article 12
REALTORS® shall be careful at all times to present a true picture in their advertising and representations to the public. REALTORS® shall also ensure that their professional status (e.g., broker, appraiser, property manager, etc.) or status as REALTORS® is clearly identifiable in any such advertising. (Amended 1/93)

• Standard of Practice 12-1
REALTORS® may use the term “free” and similar terms in their advertising and in other representations provided that all terms governing availability of the offered product or service are clearly disclosed at the same time. (Amended 1/97)

• Standard of Practice 12-2
REALTORS® may represent their services as “free” or without cost even if they expect to receive compensation from a source other than their client provided that the potential for the REALTOR® to obtain a benefit from a third party is clearly disclosed at the same time. (Amended 1/97)

• Standard of Practice 12-3
The offering of premiums, prizes, merchandise discounts or other inducements to list, sell, purchase, or lease is not, in itself, unethical even if receipt of the benefit is contingent on listing, selling, purchasing, or leasing through the REALTOR® making the offer. However, REALTORS® must exercise care and candor in any such advertising or other public or private representations so that any party interested in receiving or otherwise benefiting from the REALTOR®’s offer will have clear, thorough, advance understanding of all the terms and conditions of the offer. The offering of any inducements to do business is subject to the limitations and restrictions of state law and the ethical obligations established by any applicable Standard of Practice. (Amended 1/95)

• Standard of Practice 12-4
REALTORS® shall not offer for sale/lease or advertise property without authority. When acting as listing brokers or as subagents, REALTORS® shall not quote a price different from that agreed upon with the seller/landlord. (Amended 1/93)

• Standard of Practice 12-5
REALTORS® shall not advertise nor permit any person employed by or affiliated with them to advertise listed property without disclosing the name of the firm. (Adopted 11/86)

• Standard of Practice 12-6
REALTORS®, when advertising unlisted real property for sale/lease in which they have an ownership interest, shall disclose their status as both owners/landlords and as REALTORS® or real estate licensees. (Amended 1/93)

• Standard of Practice 12-7
Only REALTORS® who participated in the transaction as the listing broker or cooperating broker (selling broker) may claim to have “sold” the property. Prior to closing, a cooperating broker may post a “sold” sign only with the consent of the listing broker. (Amended 1/96)

Article 13
REALTORS® shall not engage in activities that constitute the unauthorized practice of law and shall recommend that legal counsel be obtained when the interest of any party to the transaction requires it.

Article 14
If charged with unethical practice or asked to present evidence or to cooperate in any other way, in any professional standards proceeding or investigation, REALTORS® shall place all pertinent facts before the proper tribunals of the Member Board or affiliated institute, society, or council in which membership is held and shall take no action to disrupt or obstruct such processes. (Amended 1/99)

• Standard of Practice 14-1
REALTORS® shall not be subject to disciplinary proceedings in more than one Board of REALTORS® or affiliated institute, society or council in which they hold membership with respect to alleged violations of the Code of Ethics relating to the same transaction or event. (Amended 1/95)

• Standard of Practice 14-2
REALTORS® shall not make any unauthorized disclosure or dissemination of the allegations, findings, or decision developed in connection with an ethics hearing or appeal or in connection with an arbitration hearing or procedural review. (Amended 1/92)

• Standard of Practice 14-3
REALTORS® shall not obstruct the Board’s investigative or professional standards proceedings by instituting or threatening to institute actions for libel, slander or defamation against any party to a professional standards proceeding or their witnesses based on the filing of an arbitration request, an ethics complaint, or testimony given before any tribunal. (Adopted 11/87, Amended 1/99)

• Standard of Practice 14-4
REALTORS® shall not intentionally impede the Board’s investigative or disciplinary proceedings by filing multiple ethics complaints based on the same event or transaction. (Adopted 11/88)
Duties to REALTORS®

Duties to the REALTORS®

Article 15
REALTORS® shall not knowingly or recklessly make false or misleading statements about competitors, their businesses, or their business practices. (Amended 1/92)

• Standard of Practice 15-1
REALTORS® shall not knowingly or recklessly file false or unfounded ethics complaints. (Adopted 1/00)

Article 16
REALTORS® shall not engage in any practice or take any action inconsistent with exclusive representation or exclusive brokerage relationship agreements that other REALTORS® have with clients. (Amended 1/04)

• Standard of Practice 16-1
Article 16 is not intended to prohibit aggressive or innovative business practices which are otherwise ethical and does not prohibit disagreements with other REALTORS® involving commission, fees, compensation or other forms of payment or expenses. (Adopted 1/93, Amended 1/95)

• Standard of Practice 16-2
Article 16 does not preclude REALTORS® from making general announcements to prospects describing their services and the terms of their availability even though some recipients may have entered into agency agreements or other exclusive relationships with another REALTOR®. A general telephone canvass, general mailing or distribution addressed to all prospects in a given geographical area or in a given profession, business, club, or organization, or other classification or group is deemed “general” for purposes of this standard. (Amended 1/04)

Article 16 is intended to recognize as unethical two basic types of solicitations:

First, telephone or personal solicitations of property owners who have been identified by a real estate sign, multiple listing compilation, or other information service as having exclusively listed their property with another REALTOR®; and

Second, mail or other forms of written solicitations of prospects whose properties are exclusively listed with another REALTOR® when such solicitations are not part of a general mailing but are directed specifically to property owners identified through compilations of current listings, “for sale” or “for rent” signs, or other sources of information required by Article 3 and Multiple Listing Service rules to be made available to other REALTORS® under offers of subagency or cooperation. (Amended 1/04)

• Standard of Practice 16-3
Article 16 does not preclude REALTORS® from contacting the client of another broker for the purpose of offering to provide, or entering into a contract to provide, a different type of real estate service unrelated to the type of service currently being provided (e.g., property management as opposed to brokerage) or from offering the same type of service for property not subject to other brokers’ exclusive agreements. However, information received through a Multiple Listing Service or any other offer of cooperation may not be used to target clients of other REALTORS® to whom such offers to provide services may be made. (Amended 1/04)

• Standard of Practice 16-4
REALTORS® shall not solicit a listing which is currently listed exclusively with another broker. However, if the listing broker, when asked by the REALTOR®, refuses to disclose the expiration date and nature of such listing; i.e., an exclusive right to sell, an exclusive agency, open listing, or other form of contractual agreement between the listing broker and the client, the REALTOR® may contact the owner to secure such information and may discuss the terms upon which the REALTOR® might take a future listing or, alternatively, may take a listing to become effective upon expiration of any existing exclusive listing. (Amended 1/94)

• Standard of Practice 16-5
REALTORS® shall not solicit buyer/tenant agreements from buyers/ tenants who are subject to exclusive buyer/tenant agreements. However, if asked by a REALTOR®, the broker refuses to disclose the expiration date of the exclusive buyer/tenant agreement, the REALTOR® may contact the buyer/tenant to secure such information and may discuss the terms upon which the REALTOR® might enter into a future buyer/tenant agreement or, alternatively, may enter into a buyer/tenant agreement to become effective upon the expiration of any existing exclusive buyer/tenant agreement. (Adopted 1/94, Amended 1/98)

• Standard of Practice 16-6
When REALTORS® are contacted by the client of another REALTOR® regarding the creation of an exclusive relationship to provide the same type of service, and REALTORS® have not directly or indirectly initiated such discussions, they may discuss the terms upon which they might enter into a future agreement or, alternatively, may enter into an agreement which becomes effective upon expiration of any existing exclusive agreement. (Amended 1/98)

• Standard of Practice 16-7
The fact that a prospect has retained a REALTOR® as an exclusive representative or exclusive broker in one or more past transactions does not preclude other REALTORS® from seeking such prospect’s future business. (Amended 1/04)

• Standard of Practice 16-8
The fact that an exclusive agreement has been entered into with a REALTOR® shall not preclude or inhibit any other REALTOR® from entering into a similar agreement after the expiration of the prior agreement. (Amended 1/98)

• Standard of Practice 16-9
REALTORS®, prior to entering into a representation agreement, have an affirmative obligation to make reasonable efforts to determine whether the prospect is subject to a current, valid exclusive agreement to provide the same type of real estate service. (Amended 1/04)

• Standard of Practice 16-10
REALTORS®, acting as buyer or tenant representatives or brokers, shall disclose that relationship to the seller/landlord’s representative or broker at first contact and shall provide written confirmation of that disclosure to the seller/ landlord’s representative or broker not later than execution of a purchase agreement or lease. (Amended 1/04)

• Standard of Practice 16-11
On unlisted property, REALTORS® acting as buyer/tenant representatives or brokers shall disclose that relationship to the seller/landlord at first contact for that buyer/tenant and shall provide written confirmation of such disclosure to the seller/landlord not later than execution of any purchase or lease agreement. (Amended 1/04)

REALTORS® shall make any request for anticipated compensation from the seller/landlord at first contact. (Amended 1/98)

• Standard of Practice 16-12
REALTORS®, acting as representatives or brokers of sellers/landlords or as subagents of listing brokers, shall disclose that relationship to buyers/tenants as soon as practicable and shall provide written confirmation of such disclosure to buyers/tenants not later than execution of any purchase or lease agreement. (Amended 1/04)

• Standard of Practice 16-13
All dealings concerning property exclusively listed, or with buyer/tenants who are subject to an exclusive agreement shall be carried on with the client’s representative or broker, and not with the client, except with the consent of the client’s representative or broker or except where such dealings are initiated by the client.

Before providing substantive services (such as writing a purchase offer or presenting a CMA) to prospects, REALTORS® shall ask prospects whether they are a party to any exclusive representation agreement. REALTORS® shall not knowingly provide substantive services concerning a prospective transaction to prospects who are parties to exclusive representation agreements, except with the consent of the prospects’ exclusive representatives or at the direction of prospects. (Adopted 1/93, Amended 1/04)

• Standard of Practice 16-14
REALTORS® are free to enter into contractual relationships or to negotiate with sellers/ landlords, buyers/tenants or others who are not subject to an exclusive agreement but shall not knowingly obligate them to pay more than one commission except with their informed consent. (Amended 1/98)

• Standard of Practice 16-15
In cooperative transactions REALTORS® shall compensate cooperating REALTORS® (principal brokers) and shall not compensate nor offer to compensate, directly or indirectly, any of the sales
licensees employed by or affiliated with other REALTORS® without the prior express knowledge and consent of the cooperating broker.

• Standard of Practice 16-16
REALTORS®, acting as subagents or buyer/tenant representatives or brokers, shall not use the terms of an offer to purchase/lease to attempt to modify the listing broker’s offer of compensation to subagents or buyer/tenant representatives or brokers nor make the submission of an executed offer to purchase/lease contingent on the listing broker’s agreement to modify the offer of compensation. (Amended 1/04)

• Standard of Practice 16-17
REALTORS®, acting as subagents or as buyer/tenant representatives or brokers, shall not attempt to extend a listing broker’s offer of cooperation and/or compensation to other brokers without the consent of the listing broker. (Amended 1/04)

• Standard of Practice 16-18
REALTORS® shall not use information obtained from listing brokers through offers to cooperate made through multiple listing services or through other offers of cooperation to refer listing brokers’ clients to other brokers or to create buyer/tenant relationships with listing brokers’ clients, unless such use is authorized by listing brokers. (Amended 1/02)

• Standard of Practice 16-19
Signs giving notice of property for sale, rent, lease, or exchange shall not be placed on property without consent of the seller/landlord. (Amended 1/93)

• Standard of Practice 16-20
REALTORS®, prior to or after terminating their relationship with their current firm, shall not induce clients of their current firm to cancel exclusive contractual agreements between the client and that firm. This does not preclude REALTORS® (principals) from establishing agreements with their ASSOCIATEd licensees governing assignability of exclusive agreements. (Adopted 1/98)

Article 17
In the event of contractual disputes or specific non-contractual disputes as defined in Standard of Practice 17-4 between REALTORS® (principals) ASSOCIATEd with different firms, arising out of their relationship as REALTORS®, the REALTORS® shall submit the dispute to arbitration in accordance with the regulations of their Board or Boards rather than litigate the matter.
In the event clients of REALTORS® wish to arbitrate contractual disputes arising out of real estate transactions, REALTORS® shall arbitrate those disputes in accordance with the regulations of their Board, provided the clients agree to be bound by the decision.

The obligation to participate in arbitration contemplated by this Article includes the obligation of REALTORS® (principals) to cause their firms to arbitrate and be bound by any award. (Amended 1/01)

• Standard of Practice 17-1
The filing of litigation and refusal to withdraw from it by REALTORS® in an arbitrable matter constitutes a refusal to arbitrate. (Adopted 2/86)

• Standard of Practice 17-2
Article 17 does not require REALTORS® to arbitrate in those circumstances when all parties to the dispute advise the Board in writing that they choose not to arbitrate before the Board.
(Amended 1/93)

• Standard of Practice 17-3
REALTORS®, when acting solely as principals in a real estate transaction, are not obligated to arbitrate disputes with other REALTORS® absent a specific written agreement to the contrary. (Adopted 1/96)

• Standard of Practice 17-4
Specific non-contractual disputes that are subject to arbitration pursuant to Article 17 are:

1) Where a listing broker has compensated a cooperating broker and another cooperating broker subsequently claims to be the procuring cause of the sale or lease. In such cases the complainant may name the first cooperating broker as respondent and arbitration may proceed without the listing broker being named as a respondent. Alternatively, if the complaint is brought against the listing broker, the listing broker may name the first cooperating broker as a third-party respondent. In either instance the decision of the hearing panel as to procuring cause shall be conclusive with respect to all current or subsequent claims of the parties for compensation arising out of the underlying cooperative transaction. (Adopted 1/97)

2) Where a buyer or tenant representative is compensated by the seller or landlord, and not by the listing broker, and the listing broker, as a result, reduces the commission owed by the seller or landlord and, subsequent to such actions, another cooperating broker claims to be the procuring cause of sale or lease. In such cases the complainant may name the first cooperating broker as respondent and arbitration may proceed without the listing broker being named as a respondent. Alternatively, if the complaint is brought against the listing broker, the listing broker may name the first cooperating broker as a third-party respondent. In either instance the decision of the hearing panel as to procuring cause shall be conclusive with respect to all current or subsequent claims of the parties for compensation arising out of the underlying cooperative transaction. (Adopted 1/97)

3) Where a buyer or tenant representative is compensated by the buyer or tenant and, as a result, the listing broker reduces the commission owed by the seller or landlord and, subsequent to such actions, another cooperating broker claims to be the procuring cause of sale or lease. In such cases the complainant may name the first cooperating broker as respondent and arbitration may proceed without the listing broker being named as a respondent. Alternatively, if the complaint is brought against the listing broker, the listing broker may name the first cooperating broker as a third-party respondent. In either instance the decision of the hearing panel as to procuring cause shall be conclusive with respect to all current or subsequent claims of the parties for compensation arising out of the underlying cooperative transaction. (Adopted 1/97)

4) Where two or more listing brokers claim entitlement to compensation pursuant to open listings with a seller or landlord who agrees to participate in arbitration (or who requests arbitration) and who agrees to be bound by the decision. In cases where one of the listing brokers has been compensated by the seller or landlord, the other listing broker, as complainant, may name the first listing broker as respondent and arbitration may proceed between the brokers. (Adopted 1/97)

5) Where a buyer or tenant representative is compensated by the seller or landlord, and not by the listing broker, and the listing broker, as a result, reduces the commission owed by the seller or landlord and, subsequent to such actions, claims to be the procuring cause of sale or lease. In such cases arbitration shall be between the listing broker and the buyer or tenant representative and the amount in dispute is limited to the amount of the reduction of commission to which the listing broker agreed. (Adopted 1/05)

The Code of Ethics was adopted in 1913. Amended at the Annual Convention in 1924, 1928, 1950, 1951, 1952, 1955, 1956, 1961, 1962, 1974, 1982, 1986, 1987, 1989, 1990, 1991, 1992, 1993, 1994, 1995, 1996, 1997, 1998, 1999, 2000, 2001, 2002, 2003, 2004 and 2005.

Explanatory Notes
The reader should be aware of the following policies which have been approved by the Board of Directors of the National Association:

In filing a charge of an alleged violation of the Code of Ethics by a REALTOR®, the charge must read as an alleged violation of one or more Articles of the Code. Standards of Practice may be cited in support of the charge.

The Standards of Practice serve to clarify the ethical obligations imposed by the various Articles and supplement, and do not substitute for, the Case Interpretations in Interpretations of the Code of Ethics.

Modifications to existing Standards of Practice and additional new Standards of Practice are approved from time to time. Readers are cautioned to ensure that the most recent publications are utilized.

(c) 2006 NATIONAL ASSOCIATION OF REALTORS®, All rights Reserved.

Installing Fabric Panels, Episode 7 (of 7)

2007-06-02T13:12:00.000-04:00

The final video in this series from Lowes Home Improvement takes a look at one more option for protecting your home's windows during a storm. Fabric panels are faster, and in many cases, easier to install than some other types of window coverings.

Hopefully this series was informative and you are able to get some practical use out of it.

Clear Storm Panels, Episode 6 (of 7)

2007-05-31T09:49:00.000-04:00

While using plywood to board up windows is still the most popular way to go, there is a new kid in town. Polycarbonate, often called "Clear Storm Panels" can be a better choice for many reasons. Polycarbonate is stronger than plywood and therefor can offer more protection from flying debris. Polycarbonate is a semi-clear material that lets natural light in, as opposed to plywood which just blocks all light from coming in through your windows. Installation is easy, as shown here in this video by Lowes Home Improvement.

Generator Safety, Episode 5 (of 7)

2007-05-29T17:00:00.000-04:00

During and after a storm, a generator can make life easier if you experience long service interruptions. When selecting and operating a portable generator, safety should be your first concern.

Lowes Home Improvement has produced this video to help you select the right generator for your specific needs.

Chainsaw Safety, Episode 4 (of 7)

2007-05-28T10:29:00.000-04:00

After a storm, a very common clean-up problem is branches and trees that have come down. Many people are anxious to begin clean up in order to start getting back to normal life.

While the storm may have passed, the dangers are far from over. Few people operate chainsaws regularly enough to safely handle them with confidence. But, the good people at Lowes Home Improvement have produced this video to help.

How To Tarp Your Roof, Episode 3 (of 7)

2007-05-26T09:30:00.000-04:00

Courtesy of Lowes Home Improvement, this video shows you how to properly tarp your roof to help prevent further damage.

Feel free to watch the video, pause it, and take notes.

Installing Storm Shutters, Episode 2 (of 7)

2007-05-25T09:45:00.000-04:00

Considering installing storm shutters on your windows? Let the folks from Lowes Home Improvement show you how.
This brief video produced by Lowes covers proper installation methods when doing it yourself.

7 Part Video Series, Episode 1 (of 7)

2007-05-24T10:46:00.000-04:00

Through permission with Lowes Home Improvement, I will be bringing you videos that they have produced. This is the first installment of what will be a 7 part series of videos designed to provide you with useful information about preparing and protecting your home during hurricane season.

This first video describes how to properly board your windows using different methods and products.

Be on the lookout for other videos I will be posting here, such as...
-How To Properly Tarp Your Roof
-Installing Storm Shutters
-Generator Safety
-And more!.

Hurricane Season Is Approaching

2007-05-23T19:39:00.000-04:00

Hurricane season here in Florida is just around the corner, and in light of that I wanted to provide some basic information for everyone. Below you will find the names for the storms for 2007, a 1st Aid kit checklist and some emergency contact numbers.

2007 Storm Names:
Andrea
Barry
Chantal
Dean
Erin
Felix
Gabrielle
Humberto
Ingrid
Jerry
Karen
Lorenzo
Melissa
Noel
Olga
Pablo
Rebekah
Sebastien
Tanya
Van
Wendy

Supplies List:
Extra fuses for home power
wiper blades
Generator and gas
Flashlight
Battery powered radio
First-Aid kit
Bug spray
Camera and film
Water (1 gallon per day per person for at least 3 days)
Pet food and water
Can opener (manual)
Coolers and ice (and re-usable ice packs)
Candles
Matches and lighter
Nonperishable food (enough for at least 3 days)
Bleach
Extra toiletries
AA Batteries
AAA Batteries
C Batteries
D Batteries
9 Volt batteries
Tarps and/or plastic to keep water out
Duct tape
Direct line telephone
Cash
Tools
Fire Extinguisher

Emergency Contact Numbers
Emergency - 911
HARTinfo Line - (813) 254-4278
Hillsborough County Emergency Operations Center - (813) 272-6900
Hillsborough County Health Department - (813) 307-8015
Hillsborough Red Cross - (813) 251-0921
Hillsborough County Sheriff - (813) 247-8200
Tampa Police Department - (813) 276-3200
Tampa Fire Rescue - (813) 274-7011
Hillsborough County Fire Rescue - (813) 272-6600.

Why You Need Title Insurance

2007-05-22T14:26:00.000-04:00

Title companies have been protecting the American dream of home ownership for more than 125 years. Real estate is an American’s largest asset and while the real estate market is going through an adjustment, the behind-the-scenes activity of title companies is more important than ever to ensure the remarkably quick and secure transfer of land, giving lenders and consumers confidence in their investment.

While that behind-the-scenes work may seem unimportant, the information gained from a thorough title search can be invaluable to a buyer or seller in a real estate transaction. There are many cases that demonstrate why it is very important to involve the title company in the early stages of a land transfer – as many as one in three title searches reveals a problem, according to the American Land Title Association (ALTA).

Boundary disputes, liens, assessments, undisclosed heirs, a mechanic’s lien, utility assessments, home improvement code violations...the list of possible problems is considerable. Southern Title looks for these problems and makes every effort to resolve them so you can move into your new home with peace of mind.

In Florida, you have the right to choose your title company if you are paying the title insurance premium (generally the seller in a transaction, or if you are refinancing, the buyer of the new mortgage). As the state’s largest independent tile agent in the state of Florida, Southern Title is committed to providing the best value to you, the consumer, and to making the transaction smooth, simple and seamless.

Technology plays a major role in the real estate transaction and over the past few years, Southern Title has invested in the resources necessary to speed up search time, improve the accuracy of closing and eventually to deliver a “paperless” closing. All documents related to the transaction can be viewed online using SureClose, the premier online transaction management system, allowing for greater communication, improved accuracy and peace of mind on closing day.

This "Guest Author" installment was contributed by:

Kathy Brogli, Southern Title
1052 Bloomingdale Avenue
Valrico, FL 33594
(Upstairs in Plaza Bella)
813-681-9772
www.stitle.com

Call them today for a quote on your next real estate purchase, sale or refinance.

April Market Report

2007-05-22T11:04:00.000-04:00

Here is the local Market Report for April, 2007. Now that I have caught all of you up to date, from now on I will be posting these reports each month. Look for them during the first week of each month.
***Disclaimer***
The information I am posting is from a variety of resources and ultimately not all homes can possibly be accounted for due to public records errors, and the fact that there is no accurate comprehensive database for FSBO's (For Sale By Owner). Prices are rounded off for convenience and this data is for informational purposes only.

**Subscribe to my Blog to get notices of updated information and new articles! Just enter your e-mail address in the box below the For Sale By Andy logo!

APRIL

Brandon
# Sold 47
Avg SP $221,000
Med SP $202,000
Avg DOM 100
Med DOM 99

Valrico
# Sold 65
Avg SP $287,000
Med SP $263,000
Avg DOM 97
Med DOM 76

Seffner
# Sold 20
Avg SP $195,000
Med SP $202,000
Avg DOM 87
Med DOM 43

Riverview
# Sold 108
Avg SP $418,000
Med SP $219,000
Avg DOM 98
Med DOM 88

Tampa
# Sold 576
Avg SP $279,000
Med SP $213,000
Avg DOM 112
Med DOM 94

Lithia
# Sold 37
Avg SP $384,000
Med SP $383,000
Avg DOM 116
Med DOM 99

Legend:
# Sold: Number of homes that sold during that month.
Avg SP: Average sold price of the homes sold.
Med SP: Median sold price of the homes sold.
Avg DOM: Average # of days those homes were active on the market.
Med DOM: Median # of days those homes were active on the market.

March Market Report

2007-05-21T08:54:00.000-04:00

***Disclaimer***
The information I am posting is from a variety of resources and ultimately not all homes can possibly be accounted for due to public records errors, and the fact that there is no accurate comprehensive database for FSBO's (For Sale By Owner). Prices are rounded off for convenience and this data is for informational purposes only.

Here is the information I have compiled for March, 2007:

Brandon
# Sold 79
Avg SP $233,000
Med SP $206,000
Avg DOM 85
Med DOM 62

Valrico
# Sold 59
Avg SP $266,000
Med SP $242,000
Avg DOM 90
Med DOM 65

Seffner
# Sold 20
Avg SP $234,000
Med SP $219,000
Avg DOM 79
Med DOM 70

Riverview
# Sold 108
Avg SP $241,000
Med SP $235,000
Avg DOM 106
Med DOM 87

Tampa
# Sold 667
Avg SP $278,000
Med SP $220,000
Avg DOM 102
Med DOM 82

Lithia
# Sold 32
Avg SP $375,000
Med SP $339,000
Avg DOM 100
Med DOM 96

Legend:
# Sold: Number of homes that sold during that month.
Avg SP: Average sold price of the homes sold.
Med SP: Median sold price of the homes sold.
Avg DOM: Average # of days those homes were active on the market.
Med DOM: Median # of days those homes were active on the market.

**Subscribe to my Blog to get notices of updated information and new articles! Just enter your e-mail address in the box below the For Sale By Andy logo!

February Market Report

2007-05-20T08:25:00.000-04:00

Below is the data I have compiled for February, 2007:

Brandon
# Sold 53
Avg SP $217,000
Med SP $210,000
Avg DOM 76
Med DOM 69

Valrico
# Sold 60
Avg SP $238,000
Med SP $230,000
Avg DOM 106
Med DOM 92

Seffner
# Sold 24
Avg SP $222,000
Med SP $212,000
Avg DOM 74
Med DOM 66

Riverview
# Sold 110
Avg SP $238,000
Med SP $232,000
Avg DOM 89
Med DOM 74

Tampa
# Sold 560
Avg SP $278,000
Med SP $207,000
Avg DOM 96
Med DOM 79

Lithia
# Sold 19
Avg SP $472,000
Med SP $355,000
Avg DOM 113
Med DOM 109

Legend:
# Sold: Number of homes that sold during that month.
Avg SP: Average sold price of the homes sold.
Med SP: Median sold price of the homes sold.
Avg DOM: Average # of days those homes were active on the market.
Med DOM: Median # of days those homes were active on the market.

***Disclaimer***
The information I am posting is from a variety of resources and ultimately not all homes can possibly be accounted for due to public records errors, and the fact that there is no accurate comprehensive database for FSBO's (For Sale By Owner). Prices are rounded off for convenience and this data is for informational purposes only.

**Subscribe to my Blog to get notices of updated information and new articles! Just enter your e-mail address in the box below the For Sale By Andy logo!

January Market Report

2007-05-19T09:43:00.000-04:00

Below is the sales data I have compiled for January, 2007:

Brandon
# Sold: 51
Avg SP: $211,000
Med SP: $200,000
Avg DOM: 68
Med DOM: 57

Valrico
# Sold: 61
Avg SP: $238,000
Med SP: $221,000
Avg DOM: 81
Med DOM: 80

Seffner
# Sold: 22
Avg SP: $229,000
Med SP: $195,000
Avg DOM: 70
Med DOM: 72

Riverview
# Sold: 107
Avg SP: $236,000
Med SP: $221,000
Avg DOM: 86
Med DOM: 78

Tampa
# Sold: 528
Avg SP: $275,000
Med SP: $215,000
Avg DOM: 95
Med DOM: 77

Lithia
# Sold: 20
Avg SP: $352,000
Med SP: $264,000
Avg DOM: 90
Med DOM: 86

Legend:
# Sold is the number of homes that sold during that month.
Avg SP is the average sold price of the homes sold.
Med SP is the median sold price of the homes sold.
Avg DOM is the average number of days those homes were active on the market.
Med DOM is the median number of days those homes were active on the market.

***Disclaimer***
The information I am posting is from a variety of resources and ultimately not all homes can possibly be accounted for due to public records errors, and the fact that there is no accurate comprehensive database for FSBO's (For Sale By Owner). Prices are rounded off for convenience and this data is for informational purposes only.

**Subscribe to my Blog to get notices of updated information and new articles! Just enter your e-mail address in the box below the For Sale By Andy logo!

East Hillsborough Market Report

2007-05-18T18:42:00.000-04:00

In an attempt to provide you with an eye on the real estate market, I will begin posting monthly home sales information for Tampa, Brandon, Valrico, Seffner, Riverview and Lithia. However, in order to bring everyone up to speed, over the next few days I will be posting the sales information for these areas for January, February, March and April.

***Disclaimer***
The information I will be posting is from a variety of resources and ultimately not all homes can possibly be accounted for due to public records errors, and the fact that there is no accurate comprehensive database for FSBO's (For Sale By Owner). Prices are rounded off for convenience and this data is for informational purposes only.

**Subscribe to my Blog to get notices of updated information and new articles! Just enter your e-mail address in the box below the For Sale By Andy logo!

Termite Inspections

2007-05-17T18:21:00.000-04:00

When buying or selling a home, most offers require an inspection by a licensed exterminator to determine if the house has termites or other wood destroying insects. The inspector will look for two things in deciding whether or not to pass a house...an active infestation, and evidence of a past infestation.

If your house does not pass the termite inspection, get a list of qualified exterminators from your Realtor®. Find out the treatment options they offer and their charges for the service.
Exterminators are usually quite competitive. If your home was treated for a past infestation, the company which performed the extermination may be willing to re-certify your home without a second treatment. Arrange for the termite inspection as early as possible, so you will have time to determine the best way to get rid of them, if they are found.

One company that I have used quite frequently with exceptional results is Haskell Termite & Pest Control, Inc. Besides the Tampa Bay area, they also service Hillsborough, Pinellas, Pasco, Polk, Manatee, and Sarasota Counties. As part of a real estate transaction, their inspections typically run about $75. However, if you are not selling your home and would like to have peace of mind, they will come out and provide a FREE inspection. Click here to check out their website, then give them a call to get your FREE termite inspection.

New Florida Property Tax Plan

2007-05-14T22:26:00.000-04:00

Florida House Speaker Marco Rubio has introduced a new property tax reform proposal, basing a type of Homestead Exemption on a home’s value. This plan is a step in a different direction from his preferred plan of eliminating property taxes and adding a higher state sales tax.

Rubio states that this new concept still meets the three House goals of reducing local government taxes and spending; providing substantial immediate tax relief to homeowners; and allowing voters to have their say in meaningful and comprehensive tax reform. While the exact numbers of the plan may still be up for negotiations, essentially it would work like this:

Homes with a market value up to $300,000:
Properties would be taxed on 20% of their market value.
Example: Value: $250,000 x 20% = $50,000.
Homeowner would pay property taxes on the $50,000.

Homes with a market value over $300,000 but less than $1,000,000:
Properties would be taxed on 20% of their market value for the 1st $300,000 and then 30% of the balance over $300,000.
Example: Value: $500,000. $300,000 x 20% = $60,000. $200,000 x 30% = $60,000. Homeowner would pay property taxes on $120,000 ($60,000 for part 1, $60,000 for part 2).

Homes with a market value over $1,000,000:
Properties would be taxed on 20% of their market value for the 1st $300,000; then 30% of the value between $300,000 and $1,000,000 ($700,000); and then 70% of the remaining value over $1,000,000.
Example: Value: $2,000,000. $300,000 x 20% = $60,000. $700,000 x 30% = $210,000. $1,000,000 x 70% = $700,000.
Homeowner would pay property taxes on the $970,000 ($60,000 for part 1, $210,000 for part 2, and $700,000 for part 3).

With this plan, the new tax amount ($50,000 in example 1 for instance) would then be multiplied by the city or county millage rate to figure your annual tax. It was unclear whether or not millage rates would be adjsted in light of the proposal, if passed.

Bottom line? The average homeowner with a homestead exemption would see their property taxes cut in half, maybe more. However, besides the exact percentages to be hammered out, the House and Senate would still have to look at the drop in revenue to the local governments and if a sales tax increase would still be needed.

Great New Price!

2007-05-09T18:23:00.000-04:00

I've just adjusted the price on this simply amazing 3 bedroom, 2 bathroom home in sunny Valrico, Florida. Your next home features spacious rooms with tasteful colors and an open floor plan. It boasts an oversized screened lanai with vaulted ceilings and a large backyard, perfect for entertaining. Low association fees and community pool make this affordable and enjoyable. All the conveniences are close by with Home Depot, Super Wal-Mart, etc, just down the street. Ceramic tile in the wet areas, water softener, indoor laundry area, sprinkler system, flat top range, upgraded refrigerator and all other appliances stay with the home. All this and more for only $219,900!

E-mail me for details at: info@ForSaleByAndy.com.

Watch the Virtual Tour at the bottom of this page, or simply click here!

Florida’s Free Hurricane Inspections Return

2007-05-09T18:06:00.000-04:00

Florida’s free hurricane inspection program is back. HB 7057, passed during the last legislative session, made adjustments to the My Safe Florida Home (MSFH) program. The MSFH program allows Florida homeowners to get a free wind inspection. The purpose for the inspection is to look for ways a home came be fortified for a hurricane. If the inspection uncovers items that could be improved, the state will match funds, within limits, for every dollar the homeowner spends. Improvements that the program will reimburse for include hurricane shutters, reinforced garage doors and roof enhancements.

More than 50,000 Florida homeowners are already on the waiting list and they should expect to be served by the end of the summer. You can apply for this by calling the MSFH helpline at 866-513-6734, or on the web at: http://www.mysafefloridahome.com/. Keep in mind though, that the waiting list will be handled first, and anyone applying for the first time should not expect to receive a free wind inspection before August 2007.

For more information on this program, again, go to: http://www.mysafefloridahome.com/.

New Home Specials

2007-05-07T09:42:00.000-04:00

The following are brand new inventory homes by US HOME, with up to 6% closing costs paid by the builder. Remember, anyone who buys a US HOME through me and mentions that they saw the virtual tours, will receive an additional $500 cash back after closing.

FLOOR PLAN
ANDOVER 4 Bed, 2 Bath, 3 Car 1721sf $230,900
HARRINGTON 3 Bed, 2 Bath, 2 Car 2040sf $229,900 (Plus den)
MARSIELLES 4 Bed, 2.5 Bath, 2 Car 2051sf $219,900
RICHMOND GRAND 5 Bed, 2.5 Bath 2 Car 2183sf $225,900 (Plus loft)
STONEWOOD 4 Bed, 2.5 Bath, 2 Car 2369sf $250,900
ARMADA GRAND 5 Bed, 3 Bath, 2 Car 2725sf $270,900 (Plus loft)

IN RIVERVIEW
MARSIELLE 4 Bed, 2.5 Bath, 2 Car 2051sf $228,900
STONEWOOD 4 Bed. 2.5 Bath, 2 Car 2369sf $248.900
BRIGHTON 5 Bed, 4 Bath, 3 Car 3031sf $322,900 (Plus Bonus rm)
ARMADA GRANDE 5 Bed, 3 Bath, 2 Car 2725sf $283,900 (Plus loft)
WILLIMASBURG 6 Bed, 3 Bath, 2 Car 2994sf $311,900

IN RUSKIN
WALDEN GRANDE 4 Bed, 2 Bath, 2 Car 1554sf $195,900
ANDOVER 4 Bed 2 Bath, 3 Car 1721sf $195,900
HARRINGTON 3 Bed, 2 Bath, 2 Car 2041sf $211,900 (Plus den)

TOWNHOMES IN RIVERVIEW NO CDD’S
ST CROIX 3 Bed, 2.5 Bath 1353sf $145,900
SIESTA KEY 2 Bed, Den, 2.5 Bath 1531sf $146,900 (Plus den)
MARTINIQUE 2 Bed , Den, 2.5 Bath 1531sf $146,900 (Plus den)

TOWNHOMES IN BRANDON NO CDD’S
CALIS 3 Bed, 3.5 Bath, 1 Car 1844sf $205,900
AMSTERDAM 2 Bed, 3.5 Bath, 2 Car $214,900 (Plus Bonus rm)
ENFIELD 4 Bed, 4 Bath, 1 Car 1956sf $214,900
BRUSSELS 3 Bed, 3.5 Bath, 1 Car 2039sf $220,900

Florida Property Tax Reform

2007-05-04T19:22:00.000-04:00

By now you’ve no doubt learned that the Legislature suspended negotiations on Save Our Homes portability, rollbacks and other property tax reform proposals until next month when lawmakers return to Tallahassee for a 10-day special session. Several words come to mind.
Disappointing? Yes. Derailed? No.

“We’re going home to continue to work on it,” said House Speaker Marco Rubio (R-Miami). “We would not call dates (for a special session)...unless we were confident that we would come up with something that would not just pass but work. But drafting something to go on the ballot (can't be rushed).''

House and Senate leaders called the special session Wednesday afternoon when it became clear that a deal couldn’t be worked out in the remaining 48 hours of the regular session. "The issue is too important to our state and to our taxpayers for us to give them a product they would not be proud of," said Senate President Ken Pruitt (R-Port St. Lucie) . "We have laid a great foundation."

Pruitt noted that both sides have already agreed on two FAR-supported tax relief measures—$25,000 exemption on personal intangible property for small businesses and some form of Save Our Homes portability. Details of the portability discussions were not released.

30 days to talk the talk
A one-month waiting period leading to a special session of the Florida Legislature gives Realtors® an opportunity to meet their lawmakers locally and push for substantial property tax relief. It also gives lawmakers time to consider the focus exclusively on the issue.
“It is my hope that a special legislative session devoted entirely to this issue will be able to deliver even more comprehensive tax reform than what could be negotiated in the waning hours of the regular session,” says FAR President Nancy Riley. “The Legislature will be able to roll back rates immediately and, if we remain strong, we will get our special election this year for portability and other constitutional issues that must be ratified by the voters.”

Special session at a glance: When: June 12-22
Original House plan:
Rollback taxes to 2001 levels; replace property taxes with a 2.5 percent state sales tax increase (constitutional amendment. Projected savings: $50 billion over five years.

Original Senate plan:
Rollback taxes to 2006 levels; allow for Save Our Homes portability; $25,000 exemption on intangible property; double the homestead exemption for first-time buyers. Projected saving: $14 billion.

What sources say has been agreed to so far:
Cut property taxes by about $20-25 billion over five years; no sales tax increase; some form of Save Our Homes portability.

© 2007 FLORIDA ASSOCIATION OF REALTORS ®

Different Markets

2007-05-04T17:46:00.000-04:00

If you are going to sell your current home, the market conditions will play a crucial role in determining the asking price. Market conditions change constantly, so it is important that you get solid advice from a professional who is familiar with your specific area.

A good Realtor® will know how houses in your area are selling, as well as the other factors that may influence the sale.

Nearby commercial development, which may create congestion and noise, may also mean a greater demand for housing from people who will be working in the new office buildings. A new route that cuts commuting time could make your home more valuable and highways close by can be an issue with the price. The economic conditions have a strong impact on the real estate market.

Your Realtor® can help you consider all of the issues and assist you in setting a fair price for your home.

Beware of Listing Price

2007-04-30T09:58:00.000-04:00

So you contacted a Realtor® to list your home, and the agent indicates that you might get more for your home than comparable homes on the market, or more than other agents have told you. After all, it just takes finding one person who is willing to pay your price, right?

Unfortunately some Realtors® approach a listing appointment as if they are bidding for your home. In any market, sellers can often start out with an unrealistic opinion of their home's value, and there is often a strong temptation to go with a person who says what you want to hear. A good Realtor® will back up their opinion of your home's market value with hard data. The agent should give you information about homes that are currently on the market, and recent selling prices of similar properties. The most heroic marketing efforts won't work on a property that is overpriced.

Even if you find a buyer who is willing to pay more than your home is worth, the sale could fall apart when the appraisal comes in lower than the agreed-upon price. Listen to everything, but be careful! Not only is this a dangerous way to choose your Realtor®, but it is a direct violation of the National Association of Realtors® Code of Ethics:

Duties to Clients and Customers,
Article 1 Standard of Practice 1-3,
REALTORS®, in attempting to secure a listing, shall not deliberately mislead the owner as to market value.

7 Countries, 9 Languages

2007-04-28T09:49:00.000-04:00

The For Sale By Andy Blog is growing, and is now being read in 6 other countries outside the United States. In light of that, I've added a language translation tool (courtesy of Babblefish) so now a simple 'click' converts my blog from English to 8 other available languages (German, Spanish, French, Chinese, Japanese, Korean, Italian and Portuguese)! I decided to add this feature due to a recent increase in the number of my readers from outside the United States (China, France, Germany, Bolivia, etc.). To try out the new translation tool, simply look in the upper right corner, then click on a flag to view my blog in a different language. Don't worry, it's not permanent and it won't change any preferences on your computer!

Low Ball Offers

2007-04-26T09:45:00.000-04:00

In each real estate market, there are buyers who make offers that are far from the current market value. How should you react if your Realtor® brings you one of these "low balls"?

If your home is priced well in a sellers' market, you can reject the buyer's offer and be pretty confident that a better one will come soon. However, in a buyers' market you may not have that luxury. Try to get a handle on the buyer's overall strategy, and ask your Realtor® for advice. Do they really want your house or will they move on to another property/house if you make a counter offer? Can they afford to pay a higher price (this is not always difficult to find out)? Are there ways to close the gap with a small owner carry-back, or with terms that will increase your bottom line? It may be necessary to take a close-hard look at your asking price. If your price is on the high end, the offer may not be that unreasonable. I would caution you against rejecting a low offer until you have explored all the options.

Everyone's situation is different, and only you truly know what you can afford to do. Speak openly and candidly with your Realtor® about your options.

Capital Gains Tax Simplified

2007-04-26T09:28:00.000-04:00

The Taxpayer Relief Act of 1997 signed on August 5, 1997, allows married taxpayers to exclude from capital gains taxes up to $500,000 in profits from selling a home (singles could exclude $250,000). This exclusion replaces both the one-time $125,000 tax exclusion available for taxpayers over age 55 and the deferral of capital gains when purchasing a more expensive home. This change exempts over 99 percent of homes sales from capital gains taxes and dramatically simplifies taxes and record-keeping for over 60 million homeowners. Taxpayers can use this exclusion every two years.

The new law allows capital gain exclusions whether you "buy up" to a more expensive home or "buy down" to a less expensive one.

Homeowners can now consider several new options. Many people find themselves at an empty-nester stage (no children at home) in a four or five bedroom home with a large equity. For many of these people, their home has been their major investment and this new law will allow them to unlock the equity. They may help their children buy a first home, purchase that vacation dream-home or make other investments for retirement.

Consult your tax advisor for your particular circumstance.

Pet Odors

2007-04-23T17:07:00.000-04:00

Be careful of odors in your home. If your family room smells stale or your cat or dog has left a distinctive odor in the hallway, the important thing is to remove the root cause of the odor rather than to merely treat the symptoms. Smells have a powerful effect on the way people react to a house, and no amount of room freshener or vanilla on the light bulbs can mask a serious odor problem. In fact, such remedies may draw attention to the problem. Homes with an odor problem can often sit on the market for months or sell for thousands of dollars less than comparable homes in the neighborhood.
Your dog or cat can pose a problem when your property is listed for sale. Even if prospective buyers have pets of their own that smell just like yours, they may be repelled by animal odors. If you have a pet odor problem, you should remove the offending furniture or carpets or hire a professional to clean them. Check the cat box frequently and keep the litter fresh. Some people have allergies or irrational fears of certain animals, so it is a good idea to put dogs or cats outside or confine them to one area when your house is being shown. It is hard for buyers to appreciate your home through puffy, watery eyes or inbetween sneezes!
Even if the house is exactly what they want, your chances of selling it are less if the buyers are afraid of being eaten by Fido. If you think that your home may have an odor problem, talk candidly with your Realtor. Your agent should be able to offer some constructive suggestions, and perhaps refer you to a professional who can help banish stubborn odors from your home.

Foreclosure Revisited

2007-04-22T10:25:00.000-04:00

Not to say, "You heard it here first", but......you heard it here first. This past Wednesday, April 18th, 2007 I made a point of warning you about foreclosures, and the fact that times like these bring unscrupulous types out from under every rock ("Don't Lose Your Home To Foreclosure").

Well, in this morning's Sunday Tampa Tribune, on the front page of the business section is an article warning people to be cautious of those seeking payment to "assist" homeowners in preventing foreclosure. Click here to read the Tampa Tribune's article on this topic.

The best way to avoid foreclosure is to make full, timely payments. Obviously this is becoming more difficult to an increasing number of people though. My advice...if you believe you are going to begin having trouble staying current on your payments, talk to your lender early. Ask them for options. Banks do not want to take your home back, especially in this market. Again, if selling your home becomes the best solution for you, ask me questions about how we can work together to get you out of a bad situation.

Coming up this week in the For Sale By Andy Blog:
-Capital gains
-House odors
-Lowball offers
-Market trends...and more!

Have a topic YOU want addressed? E-mail me your idea and your question could be featured here!

House Approves Two Tax-Cut Bills

2007-04-21T09:55:00.000-04:00

TALLAHASSEE, Fla. – April 19, 2007 – The state House of Representatives voted unanimously Wednesday to roll back property taxes to 2001 levels, while also passing, along party lines, a second plan to rewrite Florida’s tax code and give voters the option of eliminating property taxes on their homes by raising the sales tax.
House Democrats said they support the rollback bill because it sends the message they support tax cuts, but warned that they want it revised to have a less harsh impact on local government.
The second plan, advocated aggressively by House Speaker Marco Rubio, won a divided vote of 78-40, with only two Democrats, Reps. Luis Garcia and Ed Bullard, both of Miami, voting with Republicans. Two Republicans, Reps. Gayle Harrell of Stuart and Andy Gardiner of Orlando, voted against it. None explained their votes.
The measures are the first step to a resolution on the top issue of the legislative session: lowering property taxes across the state. Neither approach is expected to be accepted by the Senate but will serve as the starting point in the debate to begin next week when a joint committee hammers out the differences.
Under the House plan that passed on a partisan vote, voters would be asked in November 2008 to approve a constitutional amendment to lower property taxes across the state by $4.4 billion by 2009. Local governments then would have to roll back taxes and cut their budgets.
If voters approve the constitutional amendment, it would immediately strip away all taxes that pay for schools and automatically raise the statewide sales tax by 1 cent. After that, counties would have the option to eliminate all property taxes on homesteaded property and replace the lost income with a local sales tax of up to 1.5 cents more.
Republicans called the plan bold, innovative and the “largest tax cut in the history of Florida.” They promised that it would have wide-ranging benefits not just to homeowners but to businesses and renters, who would also see their tax bills drop while homeowners see the biggest declines.
“This isn’t to protect government, this is to protect the taxpayer,” said Rep. Ray Sanson, a Destin Republican.
Democrats argued that the proposal will have far-reaching negative consequences. Renters and businesses would see little relief, while homeowners see the greatest benefit. Low- and middle-income homeowners would shoulder the greatest share of the sales-tax increase while seeing the least benefit. And the elimination of the property tax on homes, they said, would result in a more apathetic citizenry and a vulnerable state financial system that could jeopardize the state’s bond rating.
“We support the tax cuts. We support the rollback,” said Rep. Dan Gelber, the House Democratic leader from Miami Beach. But the other proposal falls short, he said, because “you’ll be sending everybody to the polls to vote for a sales tax increase that only benefits some people.”

Copyright © 2007 The Miami Herald, Mary Ellen Klas. Distributed by McClatchy-Tribune Business News.
© Copyright 2007 Florida Association of Realtors®

Sale Pending

2007-04-19T18:00:00.000-04:00

Another one of my listings in Brandon, FL has just accepted an offer and is now under contract. While this home may be gone, please keep in mind that I do have other homes available (example). So if someone you know is looking for a home, please pass this along.

Don't Lose Your Home To Foreclosure!!!

2007-04-18T14:57:00.000-04:00

The number of homeowners in Florida who are falling behind on their monthly house payments is increasing. This has analysts and economists fearing that a growing number of those owners will lose their homes to foreclosure this year and next. Analysts note that late home loan payments in Broward and Palm Beach counties alone increased in each of the first three months of 2007.

With property taxes and insurance being hot topics lately, and the fact that the solutions are not yet final, it is easy to see why some people may be having a harder time keeping their home. Unfortunately, foreclosures and "short sales" have a tendency to bring out a flood of people looking to make a quick buck on someone's home. Don't let this happen to you. If you or someone you know are having trouble making payments on your (or their) home, talk to me. I am not a mortgage lender or counselor, but I will talk to you about your specific situation and what the realistic options are. If selling your home turns out to be your best solution, obviously I'll discuss helping you in that capacity, if that's what you choose. If refinancing your mortgage ends up being right for you, I will help you find a lender to assist you with that...and no, I do not receive any fees or referral money for doing so. I am doing this, with no obligation or pressure, because I don't want to see anyone I know lose their home to foreclosure.

For those of you who don't know me as well, I can put you in touch with a reference. After sitting down with this one particular homeowner, it became clear that selling their home at that time would not be in their best interest. They can talk to you about whether they felt pressured to list their home with me or not.

Click here to e-mail me your questions, or call my personal line at 813-732-8352.

Huge Discounts On Inventory Homes

2007-04-16T10:24:00.000-04:00

US HOME is offering huge discounts on some of their inventory homes. They have brand new communities in Riverview, Ruskin, and Brandon FL. Affordable brand new homes with all upgrades included! Some communities with no CDD’S!

EXAMPLES:
SEDONA 3 BED, 2 BATH, 2 CAR 1500 square feet $182,900
WALDEN GRANDE 4 BED, 2 BATH, 2 CAR 1554 square feet $195,900
MARSIELLES 4 BED, 2.5 BATH 2 CAR 2051 square feet $230,000
RICHMAND GRANDE 5 BED + LOFT 2.5 BATH 2 CAR 2183 square feet $224,900
ANDOVER 4 BED 2 BATH 3 CAR 1721 square feet $209,900
HARRINGTON 3 BED + DEN 2 BATH 2 CAR 2041 square feet $220,900
STONEWOOD 4 BED 2.5 BATH 2 CAR 2369 square feet $224,900
ARMADA GRANDE 5 BED + LOFT 3 BATH 2 CAR 2725 square feet $259,900
BRIGHTON II 4 BED+DEN/STUDIO, 3BATH, 2CAR 3185 square feet $320,900
WILLIAMSBURG 6 Bed, 3 Bath, 2 Car 2994 square feet $305,900
SIESTA KEY Townhome 2 BED + DEN/STUDY 2.5 BATH 1531 square feet $153,900
CALIS Townhome 3BED 3.5 BATH, 1 CAR 1844 square feet $204,900

Luxury upgrades included with the price.
• Granite kitchen counter tops• Stainless steel GE Kitchen appliances• 42 inch upper kitchen cabinets with crown molding• 18 by 18 tile in wet areas• Blind package• Decorative tile with listellos in master bath• Cultured marble counter tops in master bath• Sprinkler system• Pre-wired for security system• Pest tube defense

**Prices subject to change at any time**

Remember, through an exclusive arrangement with US Home, I have launched virtual tours of some of US Home’s models available throughout Hillsborough County and beyond. Currently, I have virtual tours on-line for two of the many floor plans. Click on Harrington and Marseilles to see the tours. In light of this agreement with US Home, anyone who buys a US Home through me and mentions this code: CCVT, or that they saw the virtual tours, will receive $500 cash back after closing, in addition to all incentives applied by the builder.

Tips for Buying a Vacation Condo

2007-04-15T22:13:00.000-04:00

Buying a vacation condo is of course a great choice for those who are looking to enjoy their summers away from the hassle of living at home, but that is not all it is good for. Buying a vacation condo is also a great investment if done right, and that is why you have more than your heart to follow when making this choice.

1. Set a budget and stick to it. This sounds obvious, but don't let emotion over-ride your budget. An avoidable financial letdown could ruin the experience.

2. Consider where you would like to purchase a vacation condo. If you plan on using it for more than just an investment then you should definitely visit the area and see if it is suitable for you.

3. Start browsing the internet and magazines to find out what properties are available. While doing this remember your budget at all times. If you feel a house is going to need further development then remember this is a cost as well, and account for it.

4. Check the rental prices that you could be getting for your condo by checking what others are charging near where you plan to buy.

5. If you plan on selling another property to finance this one, then make sure that the other is sold before you buy. You do not want to end up paying for both properties at the same time.

6. Ensure that you are going to be able to make best use of the condo before you buy. This means not only ensuring that you will be able to take time off work to enjoy it to its full potential, it also means ensuring that you will be able rent it out if this is part of your plans.

If you would like to buy a vacation condo, and are ready to start, simply tell me what you are looking for and where. If I do not service the area you are interested in, I will put you in touch with a professional who does. There is no charge for my assistance in helping you purchase your vacation condo.

Home Buyers: How to Avoid Costly Mistakes!

2007-04-11T19:33:00.000-04:00

There are some simple steps that homebuyers often miss when looking for their new home. Taking the time to consider these steps can save you thousands of dollars, but more importantly, can smooth the process of buying a new home, saving time and money, as well as alleviating stressful situations in advance.
1. Begin by being up front and honest with your REALTOR® and lender about your credit history. Your credit, whether good or bad, affects everything from your down payment to your interest rates. Your REALTOR® or a professional mortgage consultant can often advise you as to how you can get credit problems cleared up or completely eliminated from your credit report before you apply for financing or make an offer on a new home.
2. Getting pre-qualified for a loan by a professional lender before you begin your search for a new home will allow you to know in advance exactly what kind, and how much, mortgage you can afford. This makes it possible for you to make an offer on your new home with confidence that enough funding is available.
3. If the seller does not offer a home warranty on the house you want, ask your REALTOR® to make it a part of the written offer that you make. A home warranty can save you thousands of dollars in repairs, and can often be obtained for a very nominal annual fee. A standard warranty covers the electrical, plumbing, heating and air conditioning systems as well as major home appliances.
4. Ask your REALTOR® for a market analysis of the home, in comparison to similar homes in the neighborhood or throughout the city, before you make an offer. A home is not just a place where you live - it is also an investment. Take the time to research several homes before you make an offer so you know exactly what is on the market. Be certain you are making a wise investment.
5. Make your offer contingent upon a home inspection and ask the seller to make the required repairs. Hire a professional to inspect every aspect of the home thoroughly. This can save you thousands of dollars in costly repairs and many headaches in the future. A good inspection can also allow you to negotiate for any repairs prior to closing. If the seller is not willing to make the necessary repairs, remind them that the lender will also require the home to be in good condition before they make a loan for the purchase.
6. Take into account your present homeowner or renter status. If you already own a home and must sell it before you buy a new one, it is best to get a REALTOR® to do a complete market analysis on your present home. This allows you to know how much you can sell your current home for before you make an offer on a new one. If you are leasing or renting, the lease's expiration date will give you a timetable for your new purchase. Review this with your REALTOR® well in advance of when you want to move.
7. Choose your agent wisely. Working with a full-time professional REALTOR® is a must. Ask questions of your agent. Find out how knowledgeable he or she is about houses currently for sale in your price range and also of houses that have recently sold. Can your agent recommend a good lender that has the reputation of excellent customer service and low rates? Does your agent ask questions of you to have a full understanding of what you are looking for and to help you get the most home for the money?

Best Deal In Brandon Area!

2007-03-30T13:23:00.000-04:00

The price on this home has been reduced to $165,000!!! This price is unheard of in the Brandon, Valrico, Seffner, Riverview areas for a quality 3/2 block home with a garage. Well, here it is...and a one year home warranty as well. But it doesn't stop there. This home has Pergo floors, newer appliances, Oak cabinets, and Corian counters. All on a fenced lot and no HOA fees. Please pass this on to anyone you know who may be looking for instant equity in buying a home in this price range.

CLICK HERE FOR THE VIRTUAL TOUR!

A Warm Welcome, And Thank You!

2007-03-22T21:33:00.000-04:00

I just wanted to take a moment to thank all of you who have been reading my blog and finding use in the articles I post. As a tribute to all of you, below is a quick list (by no means a complete list) of the cities and towns across America, and around the world where my readers have been following my posts.

Brandon
Tampa
Valrico
Lakeland
Riverview
Winter Haven
Boca Raton
Apollo Beach
Clearwater
Birmingham
Indianapolis
Los Angeles
Traverse City
San Antonio
Little Rock
O Fallon
Brooklyn
Grantham
Atlanta
Binghamton
Hooksett
Dallas
Jinghe, China
Fuzhou, China
Brazil
Josnes, France
Great Britain

My readers and their primary language:
English ---- 95%
Chinese ---- 3%
Portuguese - 1%
French ----- 1%

Seller's Tips, A Good 1st Impression

2007-03-21T21:37:00.000-04:00

I'll be brief in this segment, since I have talked about this in an earlier post, but due to a few requests, I thought I would discuss the importance of a home's first impression. If you want buyers to be interested in your home, you need to show it in its best light. A good first impression can influence a buyer into making an offer; it also influences a buyer emotionally and visually. In addition, what the buyer first sees is what they think of when they consider the asking price.

A bad first impression weighs in as deeply. Don't show your property until it's all spruced up. You do not want to give buyers the chance to use a negative first impression they have as means of negotiation.

Ask around for the opinions others have of your home. Full time Realtors® who see houses everyday can give solid advice on what needs to be done. If it is within your budget, consider what architects or landscape designers have to say. What you need are objective opinions, and it's sometimes hard to separate the personal and emotional ties you have for the home from the property itself.

Typically, there are some general preparations that need to be addressed both outside and on the inside. As a seller, you should consider the following:

Landscaping. Has the front yard been maintained? Are areas of the house visible from the street in good condition?
Cleaning or Redoing the driveway. Is your driveway cluttered with toys, tools, trash etc.?Painting. Do both the exterior and the interior look like they have been well taken care of?Carpeting. Does the carpet have stains? Or does the carpet look old and dirty?
Another important factor is the condition of your home. Make sure that your home looks ready to be sold. Fix any defects (peeling or faded paint, cracks, stains, etc.). Condition alone can sometimes prompt fast buying decisions. Not only should you tend to any deficiencies, but consider upgrading your home by making major repairs and cosmetic improvements before selling. A nice looking home triggers the emotional response that can lead to a financial response.

Special Announcement

2007-03-13T21:43:00.000-04:00

Through an exclusive arrangement with US Home, I am proud to announce the launch of my virtual tours of US Home’s models available throughout Hillsborough County and beyond. Currently, I have virtual tours on-line for two of the many floor plans. Click on Harrington and Marseilles to see the tours. In light of this agreement with US Home, anyone who buys a US Home through me and mentions this code: CCVT, or that they saw the virtual tours, will receive $500 cash back after closing, in addition to all incentives applied by the builder. US Home is currently offering 4% closing cost contribution on many homes.

Inventory and to-be-built-homes:

Cypress Creek, Ruskin Area. Starting at $199,400. 3-5 bedrooms, 1493–2708 square feet.

South Fork, Riverview. Starting in the $220’s. 3-6 bedrooms, 1569-3000 square feet.

Summercreek, Riverview. Starting in the $230’s. 3-6 bedrooms, 1568-3210 square feet.

River Bend, Ruskin area. Starting in the $210’s. 3-6 bedrooms, 1569-3006 square feet.

Summerfield Townhouses, Riverview. Starting in the $160’s. 2-3 bedrooms, 1363-1531 square feet.

Lake Brandon Townhomes, Brandon. Starting in the $220’s. 3-4 bedrooms, 1844-2039 square feet.

If you or anyone you know, are considering a new home in the near future, contact me for details on floor plans, availability, specific pricing, and locations.

Andrew Boutilier
Exit Realty Consultants
Brandon, FL 33511
813-732-8352
info@ForSaleByAndy.com

**Don’t forget to mention you saw the virtual tours for the additional $500 cash back.

Daylight Savings Time Error

2007-03-09T11:04:00.000-05:00

Remember, Daylight Savings Time is this Sunday morning. Due to the time change being moved up, you will need to correct your computer's settings. For those of you using Windows, you can go to www.Microsoft.com and download the patch that will fix this for you. If you are unsure what your operating system is or if you have Service Pack 2, open your control panel and double click "System". This will tell you what you need to know (Windows XP, Windows 2000, Windows Vista, etc.).

Have a great weekend!

Property Deed Scam

2007-02-27T21:40:00.000-05:00

There is a new scam out there preying on home owners regarding property deeds. While most of the targets seem to be new home owners, I thought I would share this information with everyone.
If you get something in the mail telling you how important it is to have a copy of your property deed, be suspicious. It is true that having a certified true copy of your property deed is a good idea, but you don’t need to pay a company upwards to $100 to get it, which is what it will offer.

If you don’t have a copy, it is easy enough to get. Simply contact the County Clerk’s office (contact information below). The Hillsborough County Clerks Office is currently charging $1.00 per page and $1.50 to certify the document. If you don’t feel the need for a certified copy, you can view and print a copy of your property deed on-line. Click here to go to the Clerk of the Circuit Court’s On-Line Records Menu. From there, click on NEW Official Public Records Search. After reading the public notice, click “Agree” and you will be taken to the search page. Check your property deed for accuracy, and print it out at your convenience.

Here is the contact information for Downtown Tampa, the Brandon Office, and for Plant City.

Downtown Tampa (813) 276-8100
Clerk of the Circuit Court
George E. Edgecomb Courthouse
1st Floor - County Civil, Domestic Violence, Family Law
2nd Floor - Appeals, Clerk's Administration, Court Operations, Jury Services, Mental Health, Probate, Guardianship, and Trust
5th Floor - Circuit Civil, Foreclosure
800 East Twiggs Street
Tampa, FL 33602

Clerk of the Circuit Court
6th Floor - CCC Accounting, Marriage License, Recording, Records Library, Tax Deeds
501 E. Kennedy Blvd.
Tampa, FL 33602

Clerk of the Circuit Court
Courthouse Annex South Tower
2nd Floor, Room 202 - Felony / Circuit Criminal
Due to construction, enter at Jefferson Street entrance
800 E. Kennedy Blvd.
Tampa, FL 33602

Clerk of the Circuit Court
Courthouse Annex North Tower
4th Floor, Room 452 - Juvenile
Due to construction, enter at Jefferson Street entrance
801 E. Twiggs St.
Tampa, FL 33602

Clerk of the Circuit Court
7th Floor - Misdemeanor / County Criminal
700 Twiggs Street
Tampa, FL 33602
Clerk of the Circuit Court
County Center12th Floor - BOCC Accounting, BOCC Records, Value Adjustment Board (VAB)601 E. Kennedy Blvd.
Tampa, FL 33602

Brandon Office (813) 276-8100
Clerk of the Circuit Court
Brandon Crossings Shopping Center
10065A East Adamo Drive
Tampa, FL 33619

Plant City Office (813) 276-8100 Ext. 3918
Clerk of the Circuit Court
302 North Michigan Avenue
Plant City, FL 33563

Basic Principles of Investing in Today’s Market

2007-02-24T10:21:00.000-05:00

Location, Location, Location.
You’ve heard it a thousand times. It’s known as the 3 most important factors when buying a property, and it is easy to see why. The location of your property dictates how much yield and capital growth you get, which ultimately decides how well you do.

And yet people still get it wrong. Many investors only consider locations within the area they live, rather than asking themselves where else they may gain even better and higher returns. It may seem to make sense to invest in a location nearby, you can pop in to check on it, help fix any problems, and keep an eye on the local market better.

However, this approach to property investment could be costing you thousands, or even tens of thousands of dollars in lost opportunities in the long term. Compare this to professional property investors, who own property all around the country. By asking themselves, "Where can I buy property that will give me a great return?" instead of asking "What's available down the street?", they stack the odds in their favor.

Investing in property is all about the numbers, this is something prosperous investors realize very early on. Don’t think in terms of whether you would like to live there or whether the property is down the street from you. Instead, pay attention to the basic principles of investing:

-The likely return and capital growth.
-Buying costs and selling costs, including taxes.
-Costs to borrow money/interest rates.
-How attractive the property will be for likely tenants/buyers.

Recognizing A Great Location.
To build wealth through investment property, you need a location where there will be capital growth, where the property will rise in value. This can ultimately allow you to purchase additional properties, and build your portfolio. Factors that suggest growth include:

Demand over supply.
Usually due to increased population, often brought on by a high number of jobs created and lower prices than similar properties elsewhere.
Low interest rates.
People are more likely to buy, including income properties, as they will be more confident they can cover all costs and make a good yield.
Growing, developing economic areas, such as regenerated towns and cities.

Real Estate Glossary

2007-02-22T09:33:00.000-05:00

Glossary of Real Estate Terms:

Adjustable-rate mortgage (ARM)
A loan with an interest rate that is periodically adjusted to reflect changes in a specified financial index.

Annual Percentage Rate (APR)
The cost of the loan expressed as a yearly rate on the balance of the loan.

Appraisal
An opinion of the value of a property at a given point in time.

Arbitration
A method of resolving a dispute in which a third party renders a decision.

As-is condition
The purchase or sale of a property in its existing condition.

Backup offer
A secondary bid for a property that the seller will accept if the first offer fails.

Balloon loan
A mortgage in which monthly installments are not large enough to repay the loan by the end of the term. As a result, the final payment due is the lump sum of the remaining principal.

Bridge loan
A short-term loan for borrowers who need more time to find permanent financing.

Buyer's remorse
An emotion felt by first-time homebuyers after signing a sales contract or closing the purchase of a house.

Capital gains tax
A tax placed on the profits from the sale of real estate or investments.

Closing costs
Expenses incidental to the sale of real estate, including loan, title and appraisal fees.

Closing statement
A document which details the final financial settlement between a buyer and seller and the costs paid by each party.

Comparative market analysis
An estimate of the value of a property based on an analysis of sales of properties with similar characteristics.

Easement
A right given to a third party to use a portion of the property for certain purposes, such as power lines or water mains.

Eminent domain
The government's right to condemn private land for public use, such as the routing of a public highway.

Escrow
A neutral third party holds the documents and money involved in a real estate transaction and ensures that all conditions of a sale are met. Escrow also refers to a special account that a lender establishes to hold monthly installments from the borrower to cover property taxes and insurance.

Fair Housing Act
Landmark federal law passed in 1965 and amended in 1988 that makes it illegal to deny rent or refuse to sell to anyone based on race, color, religion, sex or national origin. The 1988 amendment expanded the protections to include family status and disability.

Home equity loan
A loan that allows owners to borrow against the equity in their homes.

Home inspection
An examination of a home's construction, condition and internal systems by an inspector or contractor prior to purchase.

Homeowners' association
A group that governs a modern subdivision or planned community. An association collects monthly fees from all owners to pay for maintenance of common areas, handle legal and safety issues, and enforce the covenants, conditions and restrictions set by the developer.

Homeowners' insurance
This insurance includes hazard coverage for any damages that may affect the value of a house, in addition to personal liability and theft coverage.

HUD-1 Uniform Settlement Statement
A closing statement or settlement sheet that outlines all closing costs on a real estate transaction or refinancing.

Interest-only loan
The borrower pays only the interest that accrues on the loan balance each month. Because each payment goes toward interest, the outstanding balance of the loan does not decline with each payment.

Maintenance fee
The monthly assessment members of a homeowners' association pay for the repair and maintenance of common areas.

PITI (Principal, Interest, Taxes, Insurance)
When a buyer applies for a loan, the lender will calculate the principal (loan amount), interest, taxes and insurance. The figure is designed to represent the borrower's actual monthly mortgage-related expenses.

Pre-approval letter
A letter from a lender that informs a seller about the amount of money that a potential buyer can obtain.

Prequalification
Many lenders will prequalify a borrower who is shopping for a loan by completing a preliminary assessment of the buyer's ability to pay for a home.

Real Estate Settlement Procedures Act (RESPA)
A federal law designed to make sellers and buyers aware of settlement fees and other transaction-related costs. RESPA also outlaws kickbacks in the real estate business.

Title insurance
A policy issued to lenders and buyers to protect any losses because of a dispute over the ownership of a piece of property.

Walk-through
A buyer's final inspection of the home to determine if conditions in the purchase agreement have been satisfied.

Zero-lot lines
Houses built without space between them and with little or no yard, such as a townhouse or condo.

Zoning
Regulations that control the use of land within a jurisdiction.

Steal Of The Century??

2007-02-17T09:53:00.000-05:00

Best deal in all the Brandon area? Check the Multiple Listing Service or Realtor.com. Search for a 3/2 block home with a garage in Brandon, Valrico, Seffner and Riverview. Eliminate those with less square footage, a smaller lot (7749 sf), older than 1972, HOA fees, and "As-Is" properties. How many of them are priced at $173,000 or less? Well, here it is...and a one year home warranty as well. But it doesn't stop there. This home has Pergo floors, newer appliances, Oak cabinets, and Corian counters. Scroll to the bottom of the main page on this blog to watch the virtual tour.

Cash Back At Closing Scams

2007-02-13T21:21:00.000-05:00

Florida leads the nation in fraud relating to real estate and mortgages, and it has been that way for a few years. The unfortunate reality is that some Agents have been, or may unwittingly become involved in real estate fraud. Especially in a softening market, or buyer’s market, many agents are eager to close a transaction, and even more so if the offer coming in seems too good to pass up. Purchase and Sale offers can come with many legitimate contingencies, including credits and debits between the buyers and sellers. Illegal cash back scams should not be confused with legal closing cost assistance or other incentives. One example of a possible illegal cash back scam would be:

Your home, which is in fair condition, is for sale priced at $300,000 and it has been on the market for 6 months. Out of nowhere a buyer shows up and is willing to offer $375,000. The contingency is that the “extra” $75,000 is to be given back to the buyer (or other 3rd party). The appraisal comes back at $375,000. You may think, “What's the harm? At least we’ll get the house sold and get our $300,000”. This scenario could put you on the path to get into a lot of legal trouble. Talk with your Realtor®, call the lender, and the state regulating agencies in the real estate industry. All parties in a real estate transaction (especially the lender and Agents) must be aware of, and fully account for all funds.

Below is just a simple overview of some of the indicators that you may be getting drawn into an illegal transaction.

Warning Signs/Red Flags:
-A buyer offers significantly more than the current list price on the condition that you kick that “extra” money back to the buyer or a third party.
-The appraisal comes back grossly over recent sales activity in that neighborhood for comparable homes.
-The buyer and/or their Agent have never personally seen the home.
-The buyer and/or their Agent adamantly requests (sometimes insists as a contingency of the offer) to use a title company different from the one you have chosen.
-The buyer and/or their Agent claims the “extra” money will be used for repairs.
-The buyer’s Agent asks the Listing Agent to increase the list price in the MLS.

There are many different forms of real estate and mortgage fraud. Do your part to be informed and become educated on the ways you can protect yourself.

Property Insurance

2007-02-08T16:44:00.000-05:00

Allstate and the other insurers that announced rate increases and cancellations within the past week received sobering news from the state yesterday: A recently-issued emergency rule is retroactive and their planned changes are null and void.

Read the full story here.

PROPERTY TAX REFORM

2007-01-31T16:31:00.000-05:00

Turning to property tax reform, Gov. Charlie Crist has proposed a constitutional amendment that would cut property taxes by as much as $4.7 billion a year and urged legislators to put it on the ballot in a special election.

Read the full story here.

PROPERTY INSURANCE

2007-01-30T15:41:00.000-05:00

Insurers may have trouble raising rates thanks to the new law recently signed by Gov. Charlie Crist, but they could cancel policies before its effective date, June 1. To avoid interim problems and force insurers to stay the course, Crist will ask the Cabinet to approve a stopgap rule at a meeting today. Read the full story here.

New Listing in Valrico!

2007-01-28T12:06:00.000-05:00

A simply amazing 3 bedroom, 2 bathroom home in sunny Valrico, Florida. Your next home features spacious rooms with tasteful colors and an open floor plan. It boasts an oversized screened lanai with vaulted ceilings and a large backyard, perfect for entertaining. Low association fees and community pool make this affordable and enjoyable. All the conveniences are close by with Home Depot, Super Wal-Mart, etc, just down the street. Ceramic tile in the wet areas, water softener, indoor laundry area, sprinkler system, flat top range, upgraded refrigerator and all other appliances stay with the home. All this and more for only $225,000!

Check out the virtual tour here!

FLORIDA LEGISLATURE

2007-01-24T07:34:00.000-05:00

Charged with the daunting task of reducing homeowners insurance premiums for millions of Florida property owners, the Florida Legislature last night passed a 167-page bill that could lower premiums between 5 percent and 40 percent, and provide other insurance relief to millions of property owners. Gov. Charlie Crist is expected to sign the legislation today.

Read the full story here.

Lawmakers wrangle more Citizens rate relief

2007-01-23T15:34:00.000-05:00

TALLAHASSEE – Jan. 22, 2007 – Lawmakers turned their attention to Citizens Property Insurance Corp. on Sunday, wringing some additional rate relief for customers in the state pool after reaching a broader agreement over the weekend to roll back private homeowners’ insurance rates.
A House-Senate compromise bill goes to the full Legislature today, the last day of the special session tackling runaway rates. It then goes to Gov. Charlie Crist, who on Sunday expressed optimism but didn’t tip his hand as to whether he intended to sign or veto the bill. A breakthrough in negotiations late Saturday brought a deal indicating that Floridians can expect to pay roughly 25 percent less on their insurance bills beginning this summer, although the amount could vary widely depending on location and which company provides the coverage. A cross-section of sample companies that the state Office of Insurance Regulation tested with provisions of the new legislation reported that rates would fall anywhere from single digits to more than 30 percent. When it appeared Sunday that Citizens’ customers wouldn’t do as well, lawmakers went back at the legislation and tweaked the bill to provide a rollback of about 20 percent for those in the state pool. “We’ve delivered very, very substantial rate relief – higher rate relief than any of us thought possible a month ago,” said state Sen. Steven Geller, D-Hallandale Beach, an architect of the Senate bill. Late-night and weekend arm-twisting settled a key provision of the bill – expanding the Florida Hurricane Catastrophe Fund to provide more and cheaper state-backed reinsurance. The cost of reinsurance in the private markets had been identified as a key driver in Florida’s soaring rates. Lawmakers were clearly pleased with the outcome of the special session. “In seven days, this is as good a work product as you could produce in that period of time – one that exceeds all expectations,” House Speaker Marco Rubio, R-Miami, told members of the conference committee that reconciled the chambers’ separate bills. “It is meaningful, and it is responsible.” Homeowners say it’s not enough. But a Pasco-based organization of Citizens customers said the “volleyball games” being played in Tallahassee were falling short. The group Having Affordable Coverage said early Sunday that it would lobby Crist to veto the legislation “and send them back to work on a plan that provides ‘meaningful’ decreases like he promised.” Even Sunday’s effort to increase the rollback for Citizens customers “isn’t really enough to help these people whose bills have jumped 300 percent,” said Imogene Arnold, an HAC member from Port Richey. The insurance industry, meanwhile, also weighed in against provisions in the legislation. Justin Glover, spokesman for State Farm, said the company applauded the effort to provide additional catastrophe fund reinsurance, but criticized what he called “punitive” measures such as those that prohibit excess profits and require more detailed information about premiums and profitability for customers. “To the extent you’re taking punitive steps to an insurance market that paid $37 billion worth of claims over the last two devastating hurricane seasons, we think you’re looking at the wrong enemy,” Glover said. “The enemy is the weather, it’s not insurance companies.” $16 billion more in ‘cat fund’. Both chambers had their own proposals to provide additional reinsurance, a backstop for private insurers for catastrophic damages. Currently, private insurers are on the hook for the first $6 billion in storm damages. Then the state catastrophe fund kicks in, covering losses to $16 billion. The new legislation provides a potential $16 billion more in “cat fund” coverage, which can be purchased by insurers at below-market rates. The savings from buying state-sponsored coverage must be passed along to consumers under the new law. In settling another impasse between the two chambers, lawmakers also allowed Citizens to write multiperil policies in its high-risk account areas. That is expected to allow the state-backed insurer to spread its risk to other lines and lower rates. Citizens customers benefited further from Sunday’s wrangling, as lawmakers lowered a threshold of catastrophe fund coverage required in the state pool; broadened the base of policies that will be required to make up any Citizens shortfall; and eliminated a cash buildup program. Those measures yielded modest rate rollbacks from a single percent to 5 percent, but as a whole, they pushed the expected savings on Citizens’ policies from 10 percent to nearly 20 percent. “I didn’t think that went far enough,” said state Rep. Jack Seiler, D-Wilton Manors, who pushed to increase savings to Citizens customers beyond the 10 percent level achieved Saturday. “I was very adamant that we needed more rate relief.”
The legislation also repeals a 25 percent Citizens rate increase that took effect Jan. 1, and a 56 percent increase scheduled to come in March. Ambition met reality. Lawmakers arrived in Tallahassee on Tuesday of last week with grand visions of massive rate rollbacks. Their populism was tempered by the reality of cause-and-effect in the extremely complicated insurance industry. Some consumer-friendly measures, such as forbidding companies from running Florida-only subsidiaries, were eventually dropped.
Under other provisions of the bill:
• Homeowners can exclude windstorm coverage from their policies with the approval of their mortgage holder. And they can reject coverage for the contents of their homes.
• Insurers cannot deny coverage based solely on the age of a home; it would require consideration of wind resistance.
• Insurers who offer auto insurance in Florida and homeowners insurance elsewhere also must provide homeowners’ coverage in Florida.
• Hospitals and community associations could pool and self-insure.
*Information provided by the Tampa Tribune and the Florida Association of Realtors®

House, Senate pass competing insurance bills

2007-01-19T07:37:00.000-05:00

TALLAHASSEE, Fla. – Jan. 18, 2007 – House leaders edged closer to common ground with the state Senate on Wednesday by passing a bill to cover more risk for property insurers in the event of a catastrophic hurricane, a plan they claimed could slash windstorm insurance rates by as much as 65 percent. The proposal, one of a series passed by the full House, nonetheless met with mixed reviews in the Senate, where some members questioned whether it could actually deliver on its promises. Both chambers passed competing property insurance legislation Wednesday, setting up negotiations on a final product that are expected to continue through the weekend. Lawmakers spent much of the second day of their special session grappling with the issue of costly reinsurance, which private insurance companies buy to guard against massive losses but which also drives up rates for policyholders. The new House plan, hammered out late Tuesday night by a contingent of Democratic and Republican members, appeared for the first time in a House council meeting Wednesday morning. It would expand the Florida Hurricane Catastrophe Fund to cover damages up to as much as $30 billion of losses in a single season. The state-backed “cat fund” currently kicks in after insurers’ season’s losses reach $6 billion, providing an additional $16 billion. State fund costs considerably less Insurers would have to pay for that additional $8 billion of coverage through the cat fund, at a cost of 10 cents for every dollar of reinsurance above the $22 billion mark, significantly cheaper than private reinsurance rates. Participating insurers would have to pass along 100 percent of the savings to policyholders, filing new rate requests as part of the process of applying for the additional state-backed insurance. “Conceptually, I think it is an opportunity to create more capacity for State Farm in this marketplace,” State Farm Insurance lobbyist Mark Delegal told members of the House Policy and Budget Council. Insurers would have to provide consumers with a minimum of 25 percent savings on windstorm insurance rates. Rep. Dick Kravitz, R-Jacksonville, said the plan could bring down windstorm rates by as much as 60 percent, and other negotiators of the plan predicted as much as 65 percent, citing a combination of input from the Office of Insurance Regulation, officers at the state cat fund and industry representatives. Rates should fall at least 30 percent Overall rate reductions for homeowner policies could exceed 30 percent, Kravitz said, though final numbers are still in the works. Dave Foy, chief of staff for the state Office of Insurance Regulation, confirmed in an e-mail sent to the House Majority Office that rate savings of 33 percent to 38 percent would be a reasonable expectation. The bill could bridge at least some of the divide between the House and Senate, which wants to create a state-backed “super reinsurance pool” for insurers. This superfund would cover insurers’ losses above $22 billion, the amount that includes the first $6 billion in damages covered by the industry and the additional $16 billion offered by the catastrophe fund. It was conceived with no specific funding source, and funding would not be secured until losses above $22 billion were incurred. Both the House and Senate plans now include greater state participation at the high end of the damage scale. Earlier, House leaders were critical of the Senate plan, characterizing it as dangerous. “I’m thrilled at the direction that they’re moving in,” said Senate Banking and Insurance Committee Chairman Bill Posey, R-Rockledge. “We’re coming closer together.” However, Sen. Steven Geller, architect of the Senate plan, took issue with claims that the House plan could result in a rate rollback of as much as 60 percent or 65 percent on the wind portion of a policy. The Senate plan offers the state backstop with no strings attached, yet windstorm policy savings from the Senate plan had been pegged at only 25 percent to 40 percent below current rates, he said. There is “massive confusion,” he said, over how much savings each plan would offer. Under the House plan, any losses exceeding the $30 billion covered by the pumped-up cat fund would revert to private insurers. The Senate superfund has no ceiling. House, Senate differences remain House Speaker Marco Rubio continued to balk at the “Geller plan” in the Senate on Wednesday, saying it was too risky to pass during the special session. Another deal breaker for Rubio is any expansion of Citizens Property Insurance Corp., the quasigovernmental insurer of last resort that the speaker called “broken.” Rubio did not rule out expanding Citizens’ role in the insurance market, as the Senate has proposed, but objects to addressing it during the special session. The House and Senate packages do provide rate relief for Citizens consumers by rolling back this month’s rate increase and canceling one planned for the future, which was mandated by a bill passed last legislative session. Citizens customers would see no direct benefit from expanding the cat fund or creating the Senate’s super reinsurance fund, however, as Citizens is not paying for reinsurance now. Market forces suggest that if private rates fall, Citizens’ would follow suit. Both the House and Senate plans have provisions requiring insurance companies writing other lines of insurance in Florida to also offer homeowners insurance here if they do so in other states. The move to prohibit “cherry-picking” of lucrative lines while avoiding riskier business was popular, but controversial. Opponents fear it could send even more insurers packing, or force up rates in other lines to make up for the higher risk of property coverage. Gov. Charlie Crist lauded lawmakers on Wednesday while avoiding taking sides. “What’s most important to me, and I’ve said it over and over again, is that we have significant rate reduction,” he said. “How we get there is not important to me. What is important to me is that we get there, and we get there as soon as we possibly can.”

*Content from the Florida Association of Realtors® (FAR) and the Tampa Tribune.

Committee Appointments

2007-01-16T11:15:00.000-05:00

The Greater Tampa Association of Realtors® has just informed me of my successful appointment to the following committees:

Professional Development Committee
The Professional Development Committee promotes awareness of the need for real estate education; implements local educational objectives and programs; promotes and provides support for the Florida Real Estate Commission, Florida Association of REALTORS®, and the National Association of REALTORS® educational objectives and programs.

ByLaws Committee
The bylaws committee is responsible for reviewing the Bylaws and Policy and Procedure/Rules and Regulations and recommending any changes to the Board of Directors.

MLS Task Force Committee
The MLS Task Force Committee oversees the operation of the Multiple Listing Service and recommends changes when needed.

I look forward to being an active and productive member of these committees and to help initiate positive change where possible.

Crist lists insurance reform priorities for special session

2007-01-13T09:04:00.000-05:00

TALLAHASSEE, Fla. – Jan. 12, 2006 – Thursday was a busy day in the insurance reform arena in Tallahassee. Gov. Charlie Crist applauded legislative leaders for the commitment they’re making this and next week to “providing immediate relief” to property owners struggling with the high costs of insurance. Crist spent the day in House and Senate insurance committee meetings in preparation for next week’s legislative special session.
The governor listed the following insurance issues as his priorities and said he fully expects the House and Senate to embrace these reforms:
• Mandate meaningful and broad based rate cuts
• Eliminate “pup companies” and “cherry picking”
• Make Citizens Insurance more competitive
• Require uniform state building codes
• Improve and enhance mitigation programs to get money to the people
• Push Congress for a National CAT Fund
In response to the governor’s urgent call for insurance reform, the Florida Association of Realtors® (FAR) Vice President of Public Policy John Sebree says, “We will continue to work with members of the House and Senate through the weekend as they prepare for next week’s special session.
“While all of the Senate and House bills have major reforms that Realtors are calling for, the bills need to be reconciled. We will work hard to make sure provisions we support are contained in the final product that is presented to the governor,” Sebree added.

*Content from the Florida Association of Realtors® (FAR)

Rates on 30-year mortgages unchanged in first week of new year

2007-01-08T18:49:00.000-05:00

WASHINGTON – Jan. 5, 2007 – Rates on 30-year mortgages were unchanged in the first week of the New Year after posting three consecutive increases to close out 2006. Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.18 percent this week, the same as last week. Analysts said the markets in recent days have gotten some confusing messages about how serious the current economic slowdown will be. “Currently, the market is waiting for a clearer signal on the direction in which the economy is headed,” said Frank Nothaft, Freddie Mac’s chief economist. For 2006, 30-year mortgages peaked at 6.80 percent in late July with rates trending lower for most of the rest of the year. That decline was welcomed by the embattled housing industry, which is in the grips of a severe downturn after five boom years. The Freddie Mac survey showed that other types of mortgage rates were mixed this week. Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, edged up slightly to 5.94 percent, compared to 5.93 percent last week. Five-year adjustable rate mortgages rose to 6.02 percent, up from 5.98 percent, but one-year adjustable rate mortgages fell to 5.42 percent, down from 5.47 percent last week. The mortgage rates do not include add-on fees known as points. Thirty-year, 15-year and five-year mortgages each carried a nationwide average fee of 0.4 point. One-year ARMs carried a fee of 0.6 point. A year ago, rates on 30-year mortgages stood at 6.21 percent while 15-year mortgages were at 5.76 percent, five-year ARMs averaged 5.78 percent and one-year ARMs were at 5.16 percent.

Home Pricing Websites

2007-01-05T22:56:00.000-05:00

In response to Stan's question, sites like Zillow.com in my opinion, are hit or miss. Many of these sites simply sift through public records to give you sales prices of homes in a given area. While this may seem good, it has it's problems. It can't tell you market trends and conditions for a specific area, like a Realtor® can, which can change quickly and from community to community. Realistic information about which homes your's should and should not be compared to can only come from a full time professional that you can trust. Luckily, there is no charge for the information on those sites. If there were, it would be like paying to play Solitaire on your computer...fun to play around with, but not a very good use of your time!

The Right Selling Price Affects Your Bottom Line

2007-01-05T20:35:00.000-05:00

When selling your home, the listing price is a critical factor in the return you’ll receive. That’s why you need a professional evaluation from an experienced Realtor®. Your Realtor® can provide you with an honest assessment of your home, based on several factors, including: Market conditions, Condition of your home, Repairs or improvements, and Selling time frame.

In real estate terms, market value is the price at which a particular house should sell for within 30 to 90 days in it's current condition. If the price of your home is too high, this could cause several things: Limits buyers. Buyers may not view your home if it appears to be out of their price range. Limits showings. Other salespeople may be more reluctant to view your home. Used as leverage. Realtors® may use your home to sell others that are better-priced. Extended stay on the market. Buyers may wonder what’s wrong, or why it hasn’t sold. Lower price. An overpriced home, still on the market beyond the average selling time, could lead to a lower selling price. To sell it, you will have to reduce the price – sometimes several times. In the end, you may get less than if it had been properly priced in the first place.
Wasted time, energy and continuing mortgage payments.

Thank You

2007-01-03T08:44:00.000-05:00

A big thank you to all of you who have sent your warm wishes, and who have been patient over the past few weeks while I have been recovering. While I still have stitches, I can talk and the swelling is gone. Thanks again, and stay tuned for a lot of useful real estate news in the new year!

-Andy

Tips For Moving

2006-12-15T10:22:00.000-05:00

Simple Moving Tips:
1. Give your forwarding address to the post office, usually 2-4 weeks ahead of the move.
2. Notify your charge cards, magazine/newspaper subscriptions, alarm monitoring service, employer and bank of the change of address.
3. Make a list of friends, relatives, businesses and colleagues who need to be aware of the move.
4. Arrange to have utilities disconnected at your old home and connected at your new one.
5. Check insurance coverage for moved items. Usually movers only cover what they pack.
6. Clean out appliances and prepare them for moving, if applicable.
7. Note the weight of the goods you’ll have moved, since long-distance moves are usually billed according to weight. Watch for movers that use excessive padding to add weight.
8. Check with your condo or co-op about restrictions on using the elevator or particular exits.
9. Have an “Open First” box with the things you’ll need most—toilet paper, soap, trash bags, scissors, hammer, screwdriver, pens and paper, cups and plates, water, snacks, and toothpaste.

If you’re moving out of town:
1. Get copies of prescriptions, medical and dental records for your family and pets.
2. Get copies of children’s school records for transfer.
3. Consider special car needs for pets when traveling.
4. Let a friend or relative know your route and timeline for your destination.
5. Carry traveler’s checks or an ATM card for easily accessible cash until you can open a bank account.
6. Empty your safety deposit box.

Staging Your Home

2006-12-15T09:47:00.000-05:00

Staging is the process of preparing your home for sale. When you place your home on the market it becomes a product. Similar to a product on the shelf in a store, the product has features and benefits as well as pluses, minuses, and competition.

Why should you Stage your home? To compete with other homes on the market you must be priced right and it should look better than the others. Your home is one of many homes for sale and you must present it to the buyers in the best possible light.

Before you show your home to any potential buyer be sure to go through your whole house with your agent to finish the Staging process. Meanwhile, here are some quick tips to point you in the right direction.

INSIDE
*Clear all unnecessary objects from furniture throughout the house. In general, a sparsely decorated home will help the buyer mentally 'move in' with their own things.
*Rearrange or remove some of the furniture in your home, if necessary. Many times home owners have too much furniture in a room. When it comes to selling your home, thin out overcrowded rooms to make the rooms appear larger.
*Clear all unnecessary objects from the kitchen countertops. If it hasn't been used for three months...put it away! Clear the refrigerator of messages, magnets, pictures, etc.
*In the bathroom, remove any unnecessary items from the countertops, tub, shower stall and commode top. Keep only the most necessary cosmetics, brushes, perfumes, etc., in one small group on the counter.
*Take down, reduce, or rearrange pictures and objects on walls. Patch and paint all walls, if necessary.
*Go from room to room, and paint any room that needs it, clean carpets, drapes and windows.
*If you need room to store extra possessions use the garage or rent a storage unit.
*Leave on certain lights during the day (your agent will show you which ones). During showings, turn on ALL lights and lamps.
*Play light music in the house for all viewings.

OUTSIDE
*Go around the perimeter of the house and move all garbage cans, extra building materials, debris, etc., to the garage or, if applicable, take them to the dump.
*Check gutters and roof, make sure they are clean.
*Prune bushes and trees. Keep plants from blocking windows: "You can't sell a house if you can't see it!"
*Remove any dead plants, weed all planting areas and put down fresh mulching material.
*Keep your lawn freshly cut, edged and fertilized during the growing season.
*Clear patios or decks of all small items, such as small planters, flower pots, charcoal, barbeques, toys, etc.
*Check the condition of the paint on your home, especially the trim and the front door. The first impression (curb appeal) is very important.

IN GENERAL
Try to look at your house "through a buyer's eyes," as though you've never seen it before. This exercise will help you see what needs to be done. Any time and money invested on these items will usually bring you the return of more money and a quicker sale.

First Things First

2006-12-09T13:57:00.000-05:00

Since this is my first official post, let me take care of business. As of the date of this post, I have 2 great homes for sale. In Brandon, FL I have a 3 bedroom home for $243,000. Click this link to view the virtual tour on YouTube. I also have a home for sale in Seffner, FL that has a detached in-law quarters/bonus cottage for $229,900. The virtual tour for this home is also on YouTube by clicking here. For details about these homes, log on to my website: www.ForSaleByAndy.com and select "MyListings".

Welcome

2006-12-09T13:50:00.000-05:00

Welcome to my Blog. My name is Andrew Boutilier and I am a Realtor® with Exit Realty Consultants in Brandon, FL (just outside Tampa). I will be posting real estate advice, fielding questions about the buying/selling process, delivering press releases, and yes....telling you about homes I have for sale.

Urgent Message

2006-10-23T21:32:00.000-04:00

Yesterday, (10/22/06) the front page of the Tampa Tribune ran a story (A Rapid Rise) regarding a real estate agent's suspicious behavior. The story uncovers a string of alleged unethical and illegal activities.

Most Realtors® who read this probably cringed, feeling that this is a black-eye for the industry. When I finished reading it, I was disgusted. While it is a shameful sequence of events, I encourage you to read it, and pass it along to others to read. As with any industry, there are those who have less than honorable intentions, and when there is a boom in business it seems to increase.

It is for this very reason, that you and everyone you know should be cautious in selecting who represents you in the purchase or sale of any home. Ethics and trust should be key concerns. You should feel comfortable that your Realtor® is making decisions based on doing the right thing, with a clear conscience. Thank you for taking the time to read this, and I hope the story in the Tribune will be valuable to you or someone you know.