December 2010 Real Estate News

New Office:  Same Goals and Objectives!

Re/Max Preferred is the company I started working for after leaving Re/Max Partners in August 2010.  Re/Max Preferred serves Broward County, Florida, with offices located at 2801 Oakland Park Blvd. in Ft. Lauderdale, and 2 S. University Dr. in Plantation.

My goals and objectives as a realtor have not changed!  I am committed to my clients to:

• Get property fully exposed to the market as quickly as possible
• Help net my clients the most money possible
• Make every qualified buyer in the area aware of property
• Maintain good communications with my clients

My real estate designations and memberships are as follows:

• Luxury Home realtor
• Member of Master Broker Forum (MBF)
• Accredited Staging Professional (ASP)
• Member of the 100% Clu
• Member of the Executive Clu
• Certified Foreclosure Specialist (CDPE)

  

Real Estate Marketing Tools

There are a variety of tools that I use to help meet the goals and objectives I have established in order to better serve the buyers and sellers that seek my expertise.  Below is a brief description of a few of these tools.

• www.camilleburns.com:  I have my own website that is updated and maintained regularly.  All of my current listings are displayed, and visitors can search the MLS.  All visitors to my website are able to email me with requests for more information about any of my listings and emails are answered promptly.
• www.sfloridarealestate.blogspot.com:  I contribute to my blog on a regular basis, and showcase various listings there from time to time.
• Realtor Association of Greater Ft. Lauderdale:  As a realtor, I am a member of the Realtor Assoc and have access to all the powerful tools provided by this organization.  I also attend various classes regularly to make sure I am up to speed on the latest software to enhance my real estate business.
• R-World.com:  this website is updated daily with late-breaking real estate news and developments and helps keep me in the loop of what’s going on in the real estate market.
• Point2Agent:  All of my listings are advertised across a wide array of popular consumer search websites such as Yahoo, Google, Zillow, Trulia, etc.
• Claris Market Metrics:  Claris is a wonderful tool that allows me to show my clients up-to-date, real time statistics about the real estate market and how their property fits the profile.
• Immobel International:  One of the most exciting tools that are available thru our association is Immobel International.  This program allows me to set up a webpage where all of  my listings are translated into a variety of languages.  People are able to connect to my webpage no matter where they are in the world or what language they speak!
• RealBiz360° and Virtual Tours.com:  These programs allow me to create a visual tour of each of my listings.  These tours are posted with each listing in MLS.
• www.craigslist.com:  All of my listings are posted and updated regularly on Craig’s list.  All inquiries that come via Craig’s List are answered promptly.

August Real Estate News and Activity

$8,000 Tax credit for new homebuyers has been extended to September 30, 2010! New home buyers still have to have been under contract by April 30, 2010, to qualify. Call me if you have any questions about this extension.

EASY FIXES FOR 2 HOUSEHOLD PROBLEMS

Problem 1:  Oil Stains on Garage Floor

You can remove most of a stubborn stain with a bit of elbow grease and scrubbing.  

First, remove the surface oil by sprinkling some cat litter on it to soak it up.  Then clear away the cat litter and focus on the stain.  Make a paste of hot water and dry dish or laundry detergent.  Use a stiff bristle scrub brush to scrub the area with the paste.  Hose the area and let it dry.  Another method is to use a product such as Spray 'n Wash on the stain for 10 minutes, along with a dry detergent.  Your last option is to spray on some oven cleaner.  Use this sparingly, wash it down thoroughly and keep children and pets away from it."  Real Life Home May 2010

Problem 2:  Leaky Faucet

Most faucet leaks can be easily fixed with a rubber washer, an O-ring, or seals - depending on what type of faucet it is.  By fixing the problem yourself, you can save a good bit of money since plumbers can be very expensive and will charge you a standard fee, even if the repair only takes them 10 minutes.  Real Life Home May 2010

The Curb appeal of your home is a critical factor in attracting prospective buyers.  A potential buyer will come to a decision on the compatibility of a new home within the first few minutes of seeing it.

The first step to enhancing the appearance of your home is to look at your home through the eyes of a potential buyer.  From small tasks like weeding, mowing the lawn, or simply cleaning out the storage closet, to large undertakings such as painting or remodeling the exterior, all projects will help with the sale of your home.

Another consideration is to hire a licensed Home Stager who can come in and give you very good and inexpensive ideas to organize and declutter your home to increase its "sellability".

My job and top priority is to help you determine which home improvement projects will get you the greatest bang for your buck and to help you get the best price for your home.  Please call me any time! 

SPRUCE IT UP!

Home Staging: Home Staging is the preparation of a home to sell by a professional who specializes in this form of decorating.

Most home sellers cannot view their home objectively, and many successful realtors do not have the time or resources to properly stage a home. A professional home stager has the time and objectivity to view the home as a product, and the ability to highlight the home's assets and downplay its flaws.

Cindy Robertson, Real Estate Staging Professional, joined Camille in 2007 and they have been working together in staging and selling homes. The National Association of Realtors states that:

• 96% of realtors say that buyers react better to fully staged homes than to vacant homes
• 94% of realtors say that fully staged homes sell much faster than vacant homes
• 68% of realtors say vacant homes take twice as long to sell as fully staged homes
• 94% of realtors say vacant homes sell for less money than fully staged homes
• 63% of realtors say a vacant home will sell for 15% less than a fully staged home

In addition to home staging, Cindy offers a variety of services to the potential home seller, such as
• In-house consultation to determine the seller's unique situation
• Work with homeowner to sort thru and decide what to discard before the move
• Oversee the move day and unpack at destination

Cindy is a licensed Home Staging Professional thru RESA PRO
Real Estate Staging Association.

Contact Information:

http://www.spruceitupdesign.com/

cindyspruceitup@gmail.com
954-214-6995

OPPORTUNITY KNOCKS

Lower home prices are creating opportunities for buyers like never before. Here's a look at affordability through the years.


Kelly Smallridge knows that lower home prices are good for Florida's future. "When companies consider relocating their operations to our state, housing affordability for their employees is a major consideration," says Smallridge, president and CEO of the Business Development Board of Palm Beach County. "The decline in home prices over the past two years has encouraged prospective employers to take another look at our area. CEOs want an environment that's attractive to recruiting the best employees, and housing price is a factor."


Five years ago, affordability was the major challenge facing Florida's housing market. With home prices jumping 15 to 25 percent annually in the boom years, many working-class buyers found themselves priced out of the market. At the 2006 peak, the state's median sales prices reached $248,300 for single-family homes and $211,300 for condos, according to Florida Realtors statistics.


To put those figures into perspective, buying a $250,000 home typically requires a $25,000 down payment (10 percent of the total), and a $225,000 mortgage. To comfortably meet those monthly payments of about $2,500 (including taxes and insurance), the buyer needs more than $115,000 in annual income.

Since 2006, however, the state's median sales prices have fallen more than 40% to about $140,000, putting far more Florida homes in the reach of middle-class buyers with household incomes of $40,000 to $75,000. Now that prices have stabilized in many areas, the number of transactions is rising and listing inventories are shrinking as more and more buyers take advantage of market conditions that are highly favorable to them. "The combination of adjusted prices, historically low rates and the income tax credit makes it incredibly attractive for buyers on the lower end of the scale," says Michael Wohl, founding partner of Pinnacle Housing Group in Miami, Florida.

Florida Realtor Magazine March 2010

To All Buyers in 2010

Tax Credit for New
Home Buyers in 2010:

The Worker, Homeownership and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.

For sales occurring after November 6, 2009, the Act establishes income limits of $125,000 for single taxpayers and $225,000 for married couples filing joint returns.

Tax Credit for

Existing Homeowners

The law defines a tax credit qualified move-up home buyer (“long-time resident”) as a person who has owned and resided in the same home for at least five consecutive years of the eight years prior to the purchase date. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse. That is, both spouses must qualify as long-time residents, with at least five years of principal residency for each. Repeat home buyers do not have to purchase a home that is more expensive than their previous home to qualify for the tax credit.

The Worker, Homeownership and Business Assistance Act of 2009 has established a tax credit of up to $6,500 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010 (or purchased by June 30, 2010 with a binding sales contract signed by April 30, 2010).

For more information on the New and Existing Homeowners Tax Credit, go to

http://www.irs.gov/newsroom/article/0,,id=204671,00.html

It's Time to File Your Homestead Exemption

All legal Florida residents are eligible for a Homestead Exemption on their homes, condos, co-op apartments and certain mobile home lots if they qualify.  The Florida Constitution provides this tax-saving exemption on the first and third $25,000 of the assessed value of an owner/occupied residence.  While a complicated formula is used to explain this, (an additional $25,000 only applies to the non-schools portion of your tax bill), the bottom line is that the basic homestead exemption saved a Broward homeowner in 2009 anywhere from $686 to $1,015 (depending on your city's millage rate), in annual tax savings for all homes with a value of $75,000 or higher.

You are entitled to a Homestead Exemption if, as of January 1st, you have made the property your permanent home or the permanent home of a person who is legally or naturally dependent on you.  By law, January 1st of each year is the date on which permanent residence is determined.

How to Apply for Homestead Exemption:

You may file for Homestead ONLINE by going to http://www.bcpa.net/ and clicking the large yellow button in the navigation menu on the top left side of the page, or you may file by visiting either of the Broward County Property Appraiser offices listed below:

The timely filing period for Homestead Exemption for 2010 is March 3, 2009, through March 1, 2010.  However, if eligible for an exemption, you may late file for a 2010 exemption until September 20, 2010.

What You Need When Filing for Homestead:

When filing an application, you must bring the following items listed below.  To claim 100% coverage, all owners occupying the property as Tenants in Common, (i.e., proportional share co-owners), must file in person on jointly held property.  In the case of a husband/wife, (Tenants by the Entirety), or Joint Tenants with Right of Survivorship, (JTRS), any one owner may qualify for 100% coverage, although it is always highly advisable to have all eligible owner-occupants to file.  If you are married and the Deed has different last names for a husband and wife, a marriage certificate must be presented if the deed does not indicate the two co-owners are "husband and wife".

1. 
   
   Proof of Ownership:  in general the recorded Deed or Co-op Proprietary Lease must be held in the name(s) of the individuals applying for Homestead.  You do not need to bring a copy of the deed or co-op lease if the document has already been recorded in the official records of Broward County.  If the property is head in a trust, we also need either a notarized certificate of treust or a complete copy of the trust agreement.  Note:  most taxpayers prefer to use the simple Certificate of Trust form, instead of submitting the entire trust for our review, as it better protects the privacy of your estate planning and other financial matters.
   
   
   
2. Proof of Permanent Florida residence - preferably dated prior to January 1 of the tax year for which you are filing:  Florida Driver's License is REQUIRED. In addition, applicants must present EITHER a Florida Voter's Registration or a Recorded Declaration of Domicile.  If applicant is a NON-US CITIZEN:  applicant must have the items listed above AND proof of permanent residency, asylum/parolee status (or other "PRUCOL" status).
3. If you or your married spouse have a Homestead Exemption in any other county, state or country, (or an equivalent permanent residency-based exemption or tax credit, such as New York's "S.T.A.R." exemption), on another property you also currently own, you will NOT be eligible for a homestead in Broward until after you surrender the exemption in that other jurisdiction.     
   

The State-approved application form requests certain information for all owners living on the premises and filing:

• Current employers of all owners
• Addresses listed on last IRS income tax returns
• Date of each owner's permanent Florida resident
• Date of occupancy for each property owner
• Social security numbers of all owners filing (including the Social Security numbers of any married spouses, even if not named in the deed). 

For further information on this or any other real estate questions, please call me at 954-465-9804