HURRY! You have now until April 30, 2010 to find a home, secure financing, and must close the transaction by June 30, 2010!  UP TO $8,000 back as a TAX CREDIT!

Thinking about buying your first home?  Act today and the government will give you FREE money in the form of a tax credit.  No, you're not dreaming!

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time homebuyers.


Q.  Who Qualifies?
A.  First-time homebuyers who purchase homes prior to the April 30th Contract deadline and close before the June 30th deadline to close.  To qualify as a "first-time homebuyer" the buyer or his/her spouse may not have owned a residence during the three years prior to the purchase.

Q.  Which Properties Are Eligible
A.  The 2010 First-Time Home Buyer Tax Credit may be applied to primary residence, including: single-family homes, condos, townhomes, and co-ops.

Q.  How Much Will the Credit Be?
A.  The maximum allowable credit for homebuyers is $8,000.  Each homebuyers tax credit is determined by two factors:  The price of the home - the credit is equal to 10% of the purchase price of the home, up to $8,000. 

Q.  Will the Tax Credit Need to Be Repaid?
A.  No.  The buyer does not need to repay the tax credit, if he/she occupes the home for three years or more.  However, if the property is sold during the three-year period the credit will be recouped on the sale.

February 27th, 10:30am.

DON'T MISS OUT on your $8000 TAX CREDIT. 
Also info on purchasing great bank owned properties.
Refreshments served. RSVP by Feb. 25th. Space is limited.

To all the ACTIVE RAINERS I can get to tonight!  I learned about this great place from another... RealBird!  Some of you may already be familiar with them.  Up until today everything I have used on RealBird has been a FREE service, and they have some really cool tools!!!  BUT EVEN BETTER!!!...they are having a WAY COOL promo, I just learned of it today or I would have let you know sooner.  Below are all the details!

Signup or Login 

The PROMO is on the top of your listing management page:
http://realbird.com/member/Default.aspx?p=member.listings

Upgrade to RealBird Pro and get unlimited virtual tours and more Special Offer ends July 31, 2009: Only $89/year (equals to $7.41/mo) Benefits:  Unlimited MLS compatible Virtual Tours  Unlimited street address sub-domain name, e.g. http://youraddress.propertyflyer.com  Ad-free RealBird Property Search for home buyer prospecting, now with map-based search option  Your featured listings are automatically marketed on your Property Search.  Your support helps us in developing the next generation of RealBird services  Subscribe for only $89/year. Special offer ends July 31, 2009. Thanks ! Payments are fast, easy and secure with PayPal. You do not need a PayPal account to subscribe, you can use your credit card.

All those cool features above aren't even the half of what they offer as FREE services!!  And the best part is that for the approximate two years that I have used their service ~ FREE... and watched it grow just like ActiveRain here, Zoltan and Gabe have never been anything but totally friendly, punctual, reliable, and HELPFUL!!!  Thanks to RealBird!!  If you can't get over tonight to hit the promo, please still come by and check them out!!   You'll be glad you did!

CHECK OUT the RealBird Search Widget in my ActiveRain Sidebar, just one of their FREE services.

Celeste Decker, REALTOR | WestVolusiaHouseHunter.com | 386.747.0641
Licensed Florida Real Estate Agent | Equal Housing Opportunity | ©2007 All Rights Reserved

This Saturday and Sunday December 6th and 7th from 1:00 p.m. to 6:00 p.m. the West Volusia Historical Society will hold it's Biannual Tour of Historic DeLand Homes.  The tour will feature 8 restored Historic homes in the Old Northwest DeLand National Historic District.  The press release below shows only 7 homes being open however, Aparo-Griffin Properties has the wonderful opportunity to open 124 North Clara Avenue. 

Press Release

Event Date(s): 12/6/2008 - 12/7/2008
Time and Location: varies, St. Barnabas Episcopal Church, DeLand.
Contact Phone: 386-740-6813
Event Details: Seven historic homes never before included in the West Volusia Historical Society's Tour of Historic Homes are in this year's tour scheduled for December 6 and 7. Hours are 1 to 6 p.m. Homes featured on the 2008 Tour include: 130, 321, and 426 N. Clara Ave.; 223, 335, and 409 W. Minnesota Ave., and 341 W. Wisconsin Ave. Two special events also are included in this year's program, according to Lorna Jean Hagstrom, Tour Chairman. Prior to the Saturday tour. will be a walking tour of three DeLand historic districts, with an emphasis on historic urban design. Leading the tour will be DeLand architect Hernando Gomez. Tickets are $10, and the tour begins at 9 a.m. Saturday, Dec. 6, at the DeLand House, 137 W. Michigan Ave. A second feature is an 11 a.m. Saturday talk and power point presentation on Louis Tiffany's glass collection given by Jennifer Thalheimer of the Morse Gallery in Winter Park, Fl, home of the Tiffany collection. The program will take place in the sanctuary of St. Barnabas Episcopal Church which features Tiffany stained glass windows. The church is at 319 W. Wisconsin Ave. Ticket cost is $5. Cost for the tour of homes is $12 in advance, $15 day of the event. A ticket is good for either day. Hagstrom said that while all the homes are within walking distance, buses will be available. Tickets can be purchased for all of the events at a discounted price of $20. The parking lot of St. Barnabas Episcopal Church is the starting point for the home tours. Tickets can be purchased at the Muse Book Shop, the Family Book Store, and the West Volusia Historical Society, 137 W. Michigan Ave. Call 386 740-6813.

DeLand's Victorian "1888" House  This beautiful Victorian is said to have been built in 1888 and is a master show stopper.  The homes former use was as a bed and breakfast and has now been restored and remodeled.  The first floor has been the area to keep most of it's original integrity, the dark heavy woods are orignal.  The front doors open to a large foyer to the left is a sitting area.  Beautiful heavy hung sliding doors have original hardware, this room features a art deco style fireplace.  To the right as you enter is a bright sunroom with two walls of windows, letting the early morning sunrise in.  There is too much to describe about this grand old lady!

Bonus room and arts and  crafts studio plus over a half acre lot with beautiful gardens and parking!  Fenced backyard and home features firealarm and firesprinklers to accomodate bed and breakfast  code requirements.  There is a large walk out basement and property has two storage sheds on property.  Water softner is owned.  A rare find a ONE OF A KIND.

www.westvolusiahousehunter.com

HHHHMMMM!!!  Is it just me or are you sick of seeing all of these REOs with much needed repairs?  A lot of these homes in their poor condition should have never been financed in the first place, with sales from 2005 - 2007 and already foreclosed on, with such poor condition.  Yes, there has been vandalizm and damage that isn't just deterioration or lack of maintenance: wood rot, rotten roofs with shingles curling, flaking paint on houses pre-1978, stinking nasty carpet, all original house that is nearly 30 years old.  Scary!!

The truth is that most of todays buyers are primary occupant buyers!!!  People that are going to move in make themselves comfortable and LIVE in their home.  Speculators are almost non-existent.  There are a few tried and true long term investors out there, who know a good buy when they see it, they're buying and renting properties.  Then there are the few investors that are, in my opinion, doing a great service for our local communities, buying these horrible AS IS foreclosed homes, making repairs and upgrades, which makes my job so much easier!!  Selling it to my precious BUYERS!!!  Buyers are precious, aren't they!! 

For real though, back to the reason why I wanted to write this post.  I'm not an REO agent, I do respect REO agents, I know that listing REO properties is MAJORLY time consuming.  The amount of work that has to been done and kept up with is amazing!!  I would have no time for my Buyers!  I love BUYERS!!  They are so much fun to work with!

So, my Broker has had me doing these BPOs, which in turn, leads to REO listings.  Ok, I'm not big on listing... yes I have listings, even some short sales, which aren't as horrible as many think!  But, recently she asked me to work on a REO listing.  Against my better judgment I agreed!  Well, the REO came from REOTrans.com - BPO was done, Cash for Keys Programs was done, BPO was done, Re-Key was done, BPO was done, Electricity on, BPO was done, pool has to be blue so the pool was done, another BPO, and uhhhh...What's this a Repair Bid?.... a repair bid hhhmmm..

so I may have exaggerated the amount of BPOs performed, but it is alot of work!!  Which, I knew it would be!!  I hate missing appointments with Buyers!!! :(

Ok, so the important PART - THE REPAIR BID!!

This Repair bid, had a place for a Contractor License Number, Contractor Tax Id Number, Contractor Address, Contractor Payee Name and I'm sure a few other things I leaving out.  Well, as you may have guessed... There was also a place to put what items in the house might need repairing and WHOA get this...a line where you could put the estimated cost to have the contractor repair the item(s)!!!

WHOA!!!

Ok, so I go to the head cheese and I am asking her, after she already told me to put all 0's on the repair bid and send it back "As Is...Baby"  WHOA.. actually get a repair bid on items needing fixin'!!!  I didn't think so...  "it's only a repair if it's broken and it is going to further damage the property", this is what I was told!  So I said ok, As Is No Repairs Need!

BACKGROUND!!!

The exterior of this house is in really in good condition for it's age and being an REO (the family had lived in it for 18 years!! the horrible reality of the foreclosure mess!!) The outside was in good condition, yard and lawn kept, with cute little hedges and and flower box, a privacy fenced back yard, with an in-ground vinyl pool, utility shed, and a 4 year old architectural shingle roof, in a quiet little neighborhood on a circle, perfect for family with small children - low local traffic only area!  But...inside....

• Drywall repair every room
• Door jamb repair kitchen
• Flooring in bedrooms (ALL)
• Interior Doors Replace (ALL 5)
• Broken Slider
• Missing Baseboards (ALL)
• Broken Tile flooring

With a few really minor repairs and cosmetics this could be a great house!!!  So, I did what I was told and "kept it simple, As Is" and sent back ZERO for repairs, sent all the pictures...like, I don't know ... 30-60 pix and guess what... I have a NEW TASK.... DUE TO THE PICTURES I SENT THEY WOULD LIKE AN ESTIMATE FOR PAINT ...now that is a laugh...I literally let loose and just LAUGHED AND LAUGHED!  Paint OMG!!!  It needs a bit more than paint...

Ok, so my question is....  Is everything AS IS on these banks because of LAZY REO LISTING AGENTS or is it because the banks really don't want to do the repairs?  As an investor I would rather spend $3.00 to keep $15.00.  Why drop the prices and hurt housing comparables even more!  Why not employ contractors to fix up these fixer uppers, give some employment to these poor guys that have been in the construction industry their whole lives a JOB TO DO... because they WANT TO WORK!!  the NEED to WORK!!!

With most Buyer's needing FHA loans, USDA loans, and local government down payment assistance programs - where condition is very important if not EVERYTHING!!  we need properties in good condition!  The properties that have really been rehabed and redone and are priced fairly are coming on the market and selling in 45-90 days!!!  I'm not venting because I'm angry because poor property conditions make my job harder to do!!  But, because our families, friends, and neighborhoods deserve the opportunity to have homes that do not have wood rot, mold, broken windows, carpet missing, appliances missing... and every other nasty thing that I have seen in some of these REO properties - no wonder people walked away... DYI and HGTV made everyone think that home repairs are a snap!  With the freeze on investment loans... WHO's gonna buy these properties?  I guess it will have to be those lucky investors with cash that aren't afraid to use it!!!!

I just want more HAPPY BUYERS with Beautiful homes that I sold them, at fair reasonable real value prices, with fair fixed rate affordable home loans!!! am I asking for too much?

P.S.  As a selling agent I got one of my buyers seller concessions AND a new hvac unit, carpet in bedrooms, stove, and window repair on a BANK OWNED REO listed "AS IS"!!!  As Is NO Repairs my @$$!

www.westvolusiahousehunter.com

People are always asking about the SHIP program... buyers, sellers, and even other agents in my office and whom I do business with.  It's a great program that can help a 1st Time Home Buyer into their home and keep an affordable payment.  The down payment assistance is a 30 Year, 0%, Silent Second Mortgage.  What does that mean?  That mean you don't pay a thing on the down payment money, there is no interest and if you stay in the home for 30 years, the mortgage is dissolved and the home is yours free and clear of the second mortgage.  You can always refinance your first mortgage for a lower interest rate, but if want to refi with cash out for a pool, home upgrades, landscaping...whatever.. the Silent Second Mortage must be satisified and repaid to Volusia County.  So, Let's get to the basics.

 First Off and Foremost ~ THE MUSTs

1.   You must not have owned a home (a site built or manufactured) for the past three years.
2.   You must not have been foreclosed on in the past seven years.
3.   You must not have more than $10,000.00 in the bank.
4.   You must be able to qualify for a mortgage through a lender, it is down payment assistance!
5.   You must take the Home Buyer Down Payment Assistance Course.

How much can you qualify for?? and what do you need??

Depending on home much your yearly household income is (that means EVERYONE working in the household that is over the age of 18 combined) and how many people are in the household determines which category you fall in below. 

Ok, so for an example ... a buyer who falls in the "Low Income" bracket that finds a house in the "County Wide" area is illegible to receive $38,400.00 in down payment assistance PLUS $5,400.00 in closing cost money and the Buyer MUST contribute $1,000.00 towards the home.

                                  Very Low Income     Low Income     Moderate Income
County Wide Areas         $38,400             $32,400                $26,000
Revitilization Areas        $42,000              $36,000                $30,000
Closing Cost Money         $6,000                $5,400                  $3,000
Buyer Contribution         $500                   $1,000                  $1,500

Now.... I know what you are asking!  How do I know where I fall in the above categories?  How do I know if I am in a County wide area or a Revitilization area??  Well, there are maps that Volusia County Community Assistance provides it's Affiliate Partners, the new fiscal year starts each year at the beginning on July.  Below tells you exactly how many in the household along with what the annual household income limit is to determine if you qualify and where you fall, Very Low, Low, or Moderate.  If you have more than six in your family, call me, I can help you, I have a Volusia County SHIP "bible" with all the good stuff!

Very Low-Income Range
Family Size:                       Maximum Income:
1                                                 $17,600
2                                                 $20,100
3                                                 $22,650
4                                                 $25,150
5                                                 $27,150
6                                                 $29,150
Low Income -Range
Family Size:                       Maximum Income:
1                                                 $28,200
2                                                 $32,200
3                                                 $38,250
4                                                 $40,250
5                                                 $43,450
6                                                 $46,700
Moderate-Income Range
Family Size:                       Maximum Income:
1                                                 $42,240
2                                                 $48,240
3                                                 $54,360
4                                                 $60,360
5                                                 $65,160
6                                                 $69,960

Volusia County funding offers assistance in Deland, Orange City, Debary, De Leon Springs, Pierson, Barberville, Osteen, New Symrna, Edgewater, Oak Hill, Ormond.  To purchase properties in Daytona, Port Orange or Deltona, funding must be obtained from the City in which you are interested in living.

www.westvolusiahousehunter.com 

"Too many consumers still don't get it when it comes to credit scores."  Source: Credit Scores Remain Misunderstood by Broderick Perkins.

I just had some really great people get denied financing because of poor money management, they had great income, and little debt, yet because they failed to pay a $15.00 Capital One credit card payment they were denied financing!!  Yes, they could get a loan with a higher rate, but like I told them...you waited this long....pay your bills....clean your credit up and in six months...you can buy a house.  But, just think a $15.00 payment being late is what's inhibitating them from buying, had they know....they would have paid it on-time.   People assume a small payment like that is unimportant....LOOK how important in can be.

As most know we are in a tight lending market and credit means more now than ever!!!!  What does it take to have good credit?  Credit is earned over our credit life by paying our bills on time.  My take has always been pay the bill by the due date you'll, never go wrong... but not everyone lives by this motto.  SOOOO...how does credit affect us...or more accurately how do we affect our credit ratings???  Arming ourselves with knowledge can mean better credit which equals ~ saving $$$$$$.

What items adversely affect your scores the most?

1. Foreclosure                   200+ pts
2. Short Sale                     75-125
3. Bankruptcy                   85-125 pts
4. Child Support               30 pts
5. Repossession              20 pts
6. Judgements                15-20 pts
7. Tax Liens                   15 pts
8. Student Loans             12-15 pts 
9. Charge Offs                 10-12 pts
10. Hospital Bills                10 pts
11. Collection Accounts       7-10 pts
12. Late Payments             7-10 pts
13. Inquires                      2-5 pts 

Consumer Federation of America - Press Release, July 10, 2008.  CONSUMER UNDERSTANDING OF CREDIT SCORES IMPROVES BUT REMAINS POOR,   http://www.consumerfed.org/pdfs/Credit_Score_PR_7-10-08.pdf  Streaming audio for this event is available at: http://216.250.243.12/071008CFAWaMucreditscores.wma 

Go check out this press release and you will be surprise or maybe not...by the number of people who do not understand how credit scoring works.  The important information they outlined, how people can raise their credit scores, is below.

Consumers can raise their credit scores in many ways, especially by:

• Consistently paying their bills on time every month.
• Not maxing out, or even coming close to maxing out, their credit cards or other revolving credit accounts.
• Paying off debt rather than just moving it around, as well as not opening many new accounts rapidly.
• Regularly checking their credit reports, which can be obtained for free, to make sure they are error free. Federal law requires the three main credit bureaus Experian, Equifax, and TransUnion to make available to consumers, upon request and at no charge, one credit report per year at www.annualcreditreport.com.

 The Most Important Information Consumers Should Know About Credit Scores

•  Scores reflect only one's past credit history, not personal characteristics, such as age, gender, or level of income. Over time, consumers have the ability to raise their scores.
• Low scores could not only cost individual consumers thousands of dollars a year in additional finance charges, but can also deny access to credit, insurance, telephone service, a rental unit, and even a job.

• Consumers with credit scores below 600 are almost always charged relatively high "subprime" loan rates, while those with scores above 700 are often charged relatively low "prime" rates, while those with scores above 760 are generally charged the lowest rates.

Good Luck with those credit scores!!!  They follow you forever!