Deerback Lake w/ White Sand Beaches

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Beautiful Lake Front 1990 Manufactured Home with 2 bedrooms and 2 baths on Springfed Deerback Lake located 7 miles North of Fort McCoy and only 35 minutes from Ocala.  Relax under the Oaks trees and watch the spanish moss blow in the breeze. Catch largemouth bass, bluegills, catfish and so much more. 1036 Living Sq. Ft. with central A/C and Heat and wrap around deck. Loaded with upgrades like Metal Roof, Hardwood Floors, Fireplace and Extra Large Screened Porch and Deck overlooking lake. Lighted Dock With Water. Move In Ready! Bring The Boat, Skis and The Fishing Pole. Listed for $99,999

 

 

 

 

 

 

 

 

 

Foreign Home Buyers Continue to Identify U.S. as Profitable Investment, Realtors® Report

Foreign Home Buyers Continue to Identify U.S. as Profitable Investment, Realtors® Report

 

According to the National Association of Realtors® 2013 Profile of International Home Buying Activity, interest in U.S. properties continues to grow, signaling that America continues to be regarded by international buyers as a great place to own property. International sales have declined a bit in the past year, but are at their second highest level in recent years. Difficult economic conditions, particularly in Europe, have impacted foreign buyers abroad and here at home tightened credit standards and low housing inventories have made finding a house more difficult. However none of these factors appear to be permanent. Total international sales were $68.2 billion, with 51% of foreign buyers with permanent residences outside the U.S. and 49% who are recent immigrants or temporary visa holders.

Five states made up 61 percent of reported purchases; Florida (23 percent), California (17 percent), Arizona (9 percent), Texas (9 percent) and New York (3 percent). About half of foreign buyers preferred to purchase in a suburban area, while a quarter preferred a more central city/urban area. A majority purchased a detached single-family home and 63 percent used all-cash. Based on the reported international transactions, the mean and median prices of purchases were higher when compared to purchase prices of domestic buyers. For the 12 months ending March 2013 the median international home price was $275,862 and for domestic buyers it was $179,867. The types of homes purchased by international buyers frequently tended to be different from the types of homes purchased by domestic U.S. buyers. “Some are looking for trophy properties while others are interested in modest vacation homes,” said  NAR President Gary Thomas. International buyers are more likely to be substantially wealthier and looking for a property in a specialized niche. International buyers also tend to cluster in locations based on their origin and many other factors including proximity to home country, relatives and friends, jobs, education and climate.

 

“Realtors® provide international buyers with a significant advantage when purchasing property in the U.S.. Realtors® who have earned NAR’s Certified International Property Specialist designation have received specialized training and are well prepared to service the international market,” said Thomas.Source: Realtor.org, News-releases, 2013, Foreign Buyers Leanne High

 

“What is right is more important than who is right.”

– John Wooden

 

FHA’s Back-to-Work Program Helps Foreclosed Owners Get Second Chance

upside down house

FHA’s Back-to-Work Program Helps Foreclosed Owners Get Second Chance

 

Foreclosed owners in Ocala/Marion County can get a second chance at homeownership sooner rather than later. The Federal Housing Administration recently announced the shortening of the waiting period for qualified borrowers who had a bankruptcy, foreclosure,  deed in lieu of foreclosure, or short sale who are in the market to buy again. To qualify under the FHA’s Back-to-Work Program homeowners must show that they have their finances back in order and they must receive counseling from a HUD-approved agency. The counselors provides borrowers with household budgets and customized action plans showing them how to manage money and financial obligations to prevent future failures.The details of the program claim if the buyer meet the criteria they can apply to buy a property in as little as a year.

“The Back to Work program is a great opportunity for us to help those impacted by the recent housing crisis,” Heather Shanahan, a representative with a HUD-approved housing counseling agency      called Springboard, told HousingWire. “Our goal in our counseling sessions is to enable the borrower to better understand their loan options and the obligations.” I think what gets lost in many of these programs is the fact that many, if not most, did not make the decision to make bad financial decisions. There were many factors that played a role in the recent economic downturn and unfortunately many Americans paid the financial price. FHA, Fannie Mae and many other lending institutions created the mess by offering loans that were not safe for themselves or the public they were offering them too.

I have said before and i will say again, “Low down loans did not lead to the housing boom and eventual bust!” It was the exotic 1-2-3 A-R-M loans, No Income Verification and on and on. It was so easy to get a home, anyone could and most did! With the added demand the prices skyrocketed over a few short years. Then the A-R-M loans started coming due and the values were not there and the job market slowed or died all together. It was simply a bad combination for many Americans and I hope more programs will come along to help folks become homeowners again soon.

Want to learn more about one of these programs? Contact Me Today 352-572-1739

Where is the historic district in Ocala, Florida?

Google Maps

The Ocala Historic District – Ocala, Florida is rich in history and architecture for many reasons and has a unique collection of historic structures. The district covers 173 acres and includes over 200 historic homes and structure, and was added to the National Registry of Historic Places in 1984. The historic district boundaries include Broadway, SE 8th, Silver Springs Place, SE 3rd St., 13th, and Watula and centers along Ft. King Street. If you visit the downtown area make sure you stop by the “Rheinauer House” once known as the Seven Sisters Inn, this house is one of America’s “most haunted.” The historic district began along the original Fort King Road back in the 1820’s to connect old Fort King with Fort Brooke in Tampa. Many arrived via paddlewheel steamboat after a 1870 glowing journal about Silver Springs. Not long after the railroad came into Ocala and in 1880 beautiful and quite large homes began to grow.

If you want to learn more click here: Ocala Historic District
2011-12-04 14.02.13

To buy, or not to buy pre-1990 home

Did you know that more than 70% of the U.S. single-family homes were built before 1990 – but only 60 percent of the 2013 sales year-to-date were for homes built before 1990. Of course all things are “local” when talking real estate and the likelihood  of purchasing an older home varies by state with 14 states having sales up 80% year-to-date 2013 for pre-1990 homes. According to RealtyTrac homes built in 1990 or later sold at an average price of $256,292 year-to-date in 2013 while homes built before 19190 sold at an average price of $233,221.

“The high percentage of homes that are at least 20 years old and likely in need of some major repairs is eye-opening,” says Jake Adger, chief economist at RealtyTrac. “However, given the low inventory of homes available for sale in today’s market, this challenge of aging U.S. housing supply can also be an opportunity for buyers looking for a bargain and homeowners looking to update their living space and improve the value of their homes.”The lower price point on older homes is not surprising given many are in need of some rehab and are more likely to have maintenance issues,” Adger says. “But this also presents an opportunity for buyers willing to take on that older inventory. Those buyers can purchase at lower price points and face less competition from institutional investors.”

SO what is the solution? Maybe it’s the government-backed rehab financing loan known as the FHA203(k) program. These loans allows owner-occupant buyers to finance the purchase, rehab, and upgrade of an older home, while allowing for all of the rehab cost to be rolled into the loan. This program is underused in my opinion because there is a lack of experienced lenders with experience in 203k program, the difficulty of meeting all of the requirements, and the additional upfront and closing cost involved in completing the purchase.

The perception that a new homes have less issues compared to pre-1990 homes is not always true either. Of course every home is built with codes and permits in place to ensure minimum or basic standards that every  home is safe, sound and secure. The reality is many of the older homes can be a great value and remodeled to meet current customers wants and needs.

SEARCH FOR A NEW HOME or JUST BE A NOSY NEIGHBOR AND CHECK OUT THE HOUSES AROUND YOU! [wnt_search title=”QuickSearch” /]

CLICK HERE >>>  http://search.ocalarealtyonline.com/

Source: http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=3&id=298796

3 Tips For Landing a Mortgage

What is happening with todays current mortgages and how did we get there?

I can tell you one of my most challenging obstacles is financing. The banks/ lenders went from the “fog the mirror” loans to overly strict lending requirements. What is a “fog the mirror loan? Back in the good old days if you could breath and fog a mirror the bank would just ask how much you earned(which you did not have to verify, by the way) and the lender would qualify the loan based on no income verification or documentation. Simply qualify for the 0% first year months payments and it was yours. Now we have good people, with good jobs, money saved and finding it difficult to get a mortgage. I have even had buyers with enough cash to pay for a property outright to be told by the bank they could make the loan. If you are an entreprenur or private business owner good luck getting a decent mortgage.

What can you do to get a mortgage today?

Hope, Pray, Beg….. No not really but be prepared and shop around.

1.) High Credit Scores Count- surprise the lowest interest rates go to the ones with the highest credit scores of 760 or higher. Make sure you don’t open lines of credit or loans for at least 3 months prior to shopping for a loan. Also, try to pay off loan balances — “One large balance — even if it’s paid off at the end of the month — can ding your score by 20 points or more,” according to the article at Money Magazine.

2.) Gather plenty of quotes. Shop around, it can pay off big! Gather at least 6 quotes from lenders on rates because they can vary between lenders. Request quotes from local, regional and even online vendors like www.quikenloans.com or www.rpfunding.com. MOST IMPORTANTLY! Ask about the closing cost, they can vary from 2-3% of the loan amount.

3.) Lock in the Rate. When you chose the lender make sure to lock in the rate. During this period the lender agrees to not raise the rate within a certain time period. Make sure you check with your REALTOR and lender to verify how long the loan will take to close so you know how long to set the lock in rate for.

Lastly, ask for referrals to local professionals that can help. Ask ME! I have several preferred mortgage folks with different banks to serve your needs.

“Until Next Time”

Source: “For Your Customers:…” REALTOR Mag May 2, 2012 http://realtormag.realtor.org/daily-news/2012/04/30/for-your-customers-3-tips-for-landing-mortgage

1 Million Homeowners May Get Mortgage Write-Downs

Housing and Urban Development Secretary says about 1 million homeowners would get write-downs in the size of their mortgages under a proposed deal with banks over shady foreclosure practices and it could be reached in a few weeks. Using Donovan’s estimate, the settlement could provide a reduction of about $20k for each of the 1 million borrowers.

Prior efforts to jump-start the housing recovery have fallen short of how they were promoted. “Principal reduction can have a substantial impact on the housing market nationally,” Donovan said.

National decline in values hovers around 30% with Ocala, Marion County closer to 50% reduction in values since the boom times of 2004. Reports also show about 22 percent of U.S. homes have negative equity totaling about $750 billion, according to Core Logic.

Note: Any settlement would not apply to mortgages owned by Fannie Mae or Freddie Mac, which together  own or guarantee most of the U.S. mortgage  market. The reason is the cost to the taxpayers compared to other options. The White House will also lay out plans to convert foreclosure into rentals and start “Project Rebuild”, part of Obama’s American Jobs Act that aims to have construction workers rehab vacant properties. The estimated cost of $15 billion would creat 200,00 jobs and used to renovate thousands of vacant homes and properties nationwide.

Copyright © 2012 washingtonpost.com, Margaret Chadbourn; Aruna Viswanatha

In my opinion this will do little to help the housing arket nationwide but especially here in Marion County. The focus should be on banks and lending institutions to loosen lending practices. I do not think everyone who applies should get a mortgage, as has happened in the past(fog the mirror loans!!LOL) However, the challenges many good homebuyers face with banks is the largest problem. Credit score standards and income are to strict and oversight is needed to make loans more available to good borrowers.

“Until Next Time”

 

Are You Using Online Back-Up or Cloud Computing, Yet?

If you have not checked out Google Apps, Apples iCloud or Microsofts Cloud it may be time to learn more?

First, What is Cloud Computing?

Cloud computing is the delivery of computing as a service rather than a product, whereby shared resources, software, and information are provided to computers and other devices as a metered service over a network (typically the Internet). This is a Wikipedia answer and a little confusing. It is simply using services, instead of programs(products) installed on your computer for your files, photos, videos, music and anything else you want to store.

Second, Why use Cloud Computing?

It is less expensive than on-line back up companies such as www.mozy.com or www.carbonite.com, which I have used both and they provide good services. These services range from $60 per year to upwards of couple hundred $$ and they only back up your data once a day. With “the Google cloud” it saves in real time as you work and integrates all of your tools(email, docs, pictures, calender, etc.) in one simple place. Plus you can access it from anywhere with an internet connection.

Third, What about Cost?

I recently upgraded my google account to 20GB od storage and it cost me a whooping $5.00. I have now saved 10,000 files, 500 songs, and thousands of pictures to my account. FOR ONLY $5.00

I have been using the free google apps applications for some time and recently decided to switch to google business apps. What does this mean and why does it matter? With Google Business Apps my yearly fee for all services is $50.00 per year and there is no need for any IT personnel. And, when I travel or visit family, I can share or access anything I need, all the time!

It can simplify your life in the computer world!

If I can help or answer any questions, please feel free to send me a text, email, or find me on the web.

“Until Next Time”

 

Shorts Sale and Foreclosure SOLD in 2013 Could Owe Federal Income Taxes

Are You Thinking About Trying to Sell Your Home via Short Sale or Considering Walking Away?

Uncle Sam is still giving homeowners until Dec. 31st 2012, to go through the short sale or foreclosure without tax consequences-AS LONG AS THE LENDER RELEASES THE DEBT. But on January 1, 2013 the rules change: The amount the lender forgives, for either short sale or foreclosure, on primary residence will be taxable on federal income taxes.

Example: If a house sold $50,000 short of what is owed on the mortgage, then the selling homeowners will owe federal income taxes on that $50,000. Homeowners would owe $12,500 if they’re in the 25 percent bracket; $7,500 if in the 15 percent tax section. Homeowners would be on the hook even if the house sold but the bank had not formally forgiven the loan in a letter: THE BANKS MUST OFFICIALLY SIGN OFF IN WRITING BEFORE DEC. 31, 2012

Homeowners declaring bankruptcy could escape paying income taxes on any cancellation of debt income if the debt is forgiven in the bankruptcy even if the debtor is solvent, said Nick Jovanovich, a board certified tax attorney in Fort Lauderdale, FL..

In Short…

Homeowners should decided sooner than later this year to begin whichever process they chose to avoid the tax law changes coming in 2013. Short sales can takes months to years depending on lender, type of mortgage, market activity and many other variables. Contact a local REALTOR for more information on the services they can provide to assist in your decision.

Some major lenders are offering quicker short sale programs as an alternative to foreclosure. Owners benefit from reduced documentation and smoother processing.

In some cases, owners may be eligible for cash incentives from a couple thousand dollars to upwards of $30,000.

“Until Next Time”

What are “The Code of Ethics” for REALTORS?

The NATIONAL ASSOCIATION OF REALTORS Code of Ethics:

What Does it Mean for Consumers?

 

How does the Code of Ethics affect everyday real estate practices? 

If a REALTOR® represents you, whether you are buying or selling a home, you can count on that REALTOR® to:

1. Be honest with all parties in the transaction – not just with you, as his or her client, but also with the other real estate practitioner and his or her clients.
For example, if REALTORS® represent a buyer with a spotty credit history, they can’t be dishonest with sellers about this fact. At the same time, REALTORS® can help their buyer clients collect and assemble information, such as credit reports and audited tax returns, to demonstrate that the buyer has addressed the problem and improved their situation.

2. Put your interests ahead of his or her own, at all times. 
A REALTOR® makes every effort to understand the housing needs of his or her client, thoroughly researches available inventory, and shares all relevant information with the buyer so that he or she can make an informed decision. This service is provided regardless of the compensation available.

3. Disclose all pertinent facts regarding the property and the transaction to both buyer and seller.
If a REALTOR® believes information provided by a seller is questionable, the REALTOR® is obligated to investigate. REALTORS®should recommend that buyers consult their own experts, such as home inspectors, to address concerns. For example, if a home seller asks his or her REALTOR® to conceal the fact that the roof leaks, the REALTOR® cannot comply; if the seller insists, the REALTOR®should end the business relationship with that seller. 

4. Be truthful in all communications with the public.
When REALTORS® distribute newsletters, create Web sites, or place advertisements, they must be careful not to represent other real estate professionals’ work product as their own. If recently sold or listed properties in the community are publicized, it must be clear whether the REALTOR® was actually involved in the transaction, or whether that data came from the local multiple listing service or other source. This ensures that the public understands the REALTOR®’s experience and can make an informed decision when choosing real estate representation.

As a REALTOR I live by this code in every day of my career and my life. Our morals and ethics are all we have to assure we provide the education and services our buyers and sellers deserve. If you would like the full version of the “Code of Ethics” please visit http://www.realtor.org/realtororg.nsf/files/R_COE-Pledge-of-Performance.pdf/$FILE/R_COE-Pledge-of-Performance.pdf

 

“Until Next Time”