Up To $8,000 Tax Credit For Your Home Purchase!

If you're a new home buyer, which means not having owned a home in the past 3 years, vacation and rental homes excluded, then good news is here! Not only is it a great time to buy with excellent prices and inventory, but the monetary incentives are at an all time high. Enclosed is a link that has the various stipulations and price ranges to qualify for the maximum tax credit.

http://www.floridarealtors.org/NewsAndEvents/n1-021709.cfm

14 Recent Sales in NW Florida

Enclosed is a link to the development of WaterColor in NW Florida on the beautiful Emerald Coast and recent sales of their properties and others that are currently on the market. This is always an important barometer when accessing potential purchases for your family. Please feel free to email with any questions you may have @ ckskrmetta@yahoo.com. I look forward to hearing from you!

http://www.joe.com/WC_Featured_Properties-Article

The Steps Involved in Foreclosure

Foreclosure is a process that allows a lender to recover the amount owed on a defaulted loan by selling or taking ownership (repossession) of the property securing the loan. The foreclosure process begins when a borrower/owner defaults on loan payments and the lender files a public default notice. The foreclosure process can end one of four ways:

1. The borrower/owner pays off the default amount to reinstate the loan during a grace period known as pre-foreclosure.
2. The borrower/owner sells the property to a third party during pre-foreclosure, allowing the borrower/owner to pay off the loan and avoid having a foreclosure on his or her credit history.
3. A third party buys the property at a public auction at the end of the pre-foreclosure period.
4. The lender takes ownership of the property, usually with the intent to re-sell. The lender can take ownership through an agreement with the borrower/owner during pre-foreclosure or by buying back the property at the public auction.

How to Decide Where and What Home to Buy

Being in a buyer's market is good if you are buying, but it does come with more decisions. How to know where and what to buy when there is so much to choose from, can actually cause a form a paralyses for some. 

What I have learned that is helpful is to come up with a checklist of 8-10 relevant needs and wants and rate them in priority. The first should always be location. As we all know this is the single most important decision when comparing prices, but our personal likes, dislikes and needs have to be considered as well. Ask yourself some key questions and rate them on a scale of 1-10.

The first question of location would be based on what is important to you.  Is it being close to family, good schools, safe, close to work, price etc. Then make a list in the order of relevance with 10 being first.

Example: We moved to a new area because of a good high school. When choosing which house we were to move into though, we had to make a list of things we were looking for and narrow our search to meet those desires. First was being close to the school recognizing a lot of our time would be spent coming and going. That narrowed the search to a certain radius. Next given those options was safety, access to amenities and a lifestyle that allowed us to walk and not always have to get in a car. That narrowed our search even further. Now we were looking in a specific area, because it was safe, yet within walking distance to all the amenities we were looking for. Now that we had narrowed our search to a specific location, we needed to look at various homes. How many bedrooms, baths, living space and of course style and price. A Realtor can best help with this aspect as they have access to a vast supply of data. Once you have a list from which to work with, then it's time to start viewing the homes available.

On this journey it's also important to take good notes and pictures about what you are looking for and make a short list of those you like initially, so you can re-visit. It's through this process that variables are eliminated and hopefully your decision becomes easier. 

The role of a good Realtor should be to provide comps to support the value of your potential decision economically and information regarding the surrounding area and the local trends. Once those decisions are made, your Realtor can then take their skills to the negotiation table to help secure the best possible price for you. 

If you have specific questions about your own situation, please feel free to drop a line. I look forward to hearing from you.