Is the Apple iPad a good choice for Tampa Bay Realtors?

In my opinion the Apple iPad is currently a waste of money for Tampa Bay Realtors. The main problem is that you can’t run Internet Explorer on the iPad. Apple has made sure that only their Safari browser works on the iPad, thus rendering the iPad useless for Tampa Bay Florida Realtors who depend on Internet Explorer to access the Multiple Listing System.

Yes, there are other bells and whistles the iPad offers that could be of benefit to Realtors, but without direct access to MLS I think most Realtors would find the price of the iPad to outweigh it’s value to them. Let’s all hope Apple addresses this issue in the future.

How long can you breathe underwater?

Inman News

Top 10 states with highest share of negative equity mortgages

1. Nevada (68 percent of 592,000 mortgages)
2. Arizona (50 percent of 1.3 million mortgages)
3. Florida (46 percent of 4.5 million mortgages)
4. Michigan (38 percent of 1.4 million mortgages)
5. California (33 percent of 6.9 million mortgages)
6. Georgia (28 percent of 1.6 million mortgages)
7. Idaho (24 percent of 243,000 mortgages)
8. Virginia (23 percent of 1.2 million mortgages)
9. Maryland (22 percent of 1.4 million mortgages)
10. Utah (20 percent of 470,000 mortgages)

Has the Gulf Coast oil spill affected Tampa Bay real estate?

This is a question I’ve been asked many times over the past few months. Has the oil spill out in the Gulf of Mexico had a negative impact on demand for real estate in the Tampa Bay area?

From what I know there haven’t been any reports of the oil spill reaching Tampa Bay beaches. At least not yet. Most of the oil damage was up in the Florida panhandle. Scientists are warning everyone that there is a tremendous amount of oil still to wash ashore and it could be years and years before we have any idea about the extent of damage to the environment.

With that said there has been a definite affect on the demand for waterfront real estate in the Tampa Bay area. Buyers for waterfront property have been much more reserved and cautious lately. Nobody wants to buy a waterfront home only to have the white sands and blue waters soon after closing turned into a tar field. This is a rational fear and one I’m not sure how to address. My advice is for buyers to do their homework and make their own educated decision on what they want to do. I share the same fears and cannot predict what will happen with the massive amounts of oil still out there in our Gulf. We can all only hope it doesn’t find its way to our beautiful Gulf beaches.

Clear title is essential (hilarious!)

Part of rebuilding New Orleans caused residents often to be challenged with the task of tracing home titles back potentially hundreds of years. With a community rich with history stretching back over two centuries, houses have been passed along through generations of family, sometimes making it quite difficult to establish ownership. Here’s a great letter an attorney wrote to the FHA on behalf of a client:

You have to love this lawyer…

A New Orleans lawyer sought an FHA loan for a client. He was told the loan would be granted if he could prove satisfactory title to a parcel of property being offered as collateral. The title to the property dated back to 1803, which took the lawyer three months to track down. After sending the information to the FHA, he received the following reply.

(Actual reply from FHA):

“Upon review of your letter adjoining your client’s loan application, we note that the request is supported by an Abstract of Title. While we compliment the able manner in which you have prepared and presented the application, we must point out that you have only cleared title to the proposed collateral property back to 1803. Before final approval can be accorded, it will be necessary to clear the title back to its origin.”

Annoyed, the lawyer responded as follows(Actual response):

“Your letter regarding title in Case No.189156 has been received. I note that you wish to have title extended further than the 206 years covered by the present application. I was unaware that any educated person in this country, particularly those working in the property area, would not know that Louisiana was purchased by the United States from France in 1803, the year of origin identified in our application. For the edification of uninformed FHA bureaucrats, the title to the land prior to U.S. ownership was obtained from France, which had acquired it by Right of Conquest from Spain . The land came into the possession of Spain by Right of Discovery made in the year 1492 by a sea captain named Christopher Columbus, who had been granted the privilege of seeking a new route to India by the Spanish monarch, Queen Isabella. The good Queen Isabella, being a pious woman and almost as careful about titles as the FHA, took the precaution of securing the blessing of the Pope before she sold her jewels to finance Columbus ‘s expedition. Now the Pope, as I’m sure you may know, is the emissary of Jesus Christ, the Son of God, and God, it is commonly accepted, created this world. Therefore, I believe it is safe to presume that God also made that part of the world called Louisiana. God, therefore, would be the owner of origin and His origins date back to before the beginning of time, the world as we know it, and the FHA. I hope you find God’s original claim to be satisfactory. Now, may we have our damn loan?”

The loan was immediately approved.

Am I a “normal” Realtor?

There is an article in the August 2010 edition of Florida Realtor” magazine that caught my eye.

Find out how much you have in common with the typical Realtor in Florida.

You’re a normal Realtor in Florida if you have nine years of experience and a personal website, and you performed eight transactions in 2009. According to the 2010 Florida Realtors Member Profile, here are some other characteristics of Florida members:

• 81 percent of members specialize in residential brokerage in Florida and have nine years of experience.

Yes, this describes me. I’m a residential Realtor with about 9 years of experience.

• About two-thirds of all Realtors in Florida reported having a website, one in 10 members reported having a real estate blog and more than half use social media.

I have a real estate blog. You’re actually reading it now. I also have several other real estate sites including a Facebook page and Twitter account.

• The median gross income of Realtors in 2009 in Florida was $34,000.

My gross income in 2009 was significantly above the median gross income.

• The typical Realtor is a 54-year-old white female who attended college and owns a home. In fact, 56 percent of Florida members are female.

I’m a 41-year old white male with a BA in Business Administration, emphasis in marketing, from the University of South Florida. Yes, I’m a home owner.

• The typical Realtor earned 18 percent of his or her business from past customers.

I earn well over 50% of my income from past customers and referrals. And if you’re one of them….thank you!

• Realtors’ media business expenses fell to $4,960.

I spend more than this per year just advertising on Realtor.com.

The complete report is available online at floridarealtors.org/Research/index.cfm

Got an unwanted call from 813-418-6141?

If you’re a Realtor getting recorded phone messages from 813-418-6141 and you’re on the Do Not Call Registry please report this company by clicking on the “File a Complaint” button on the left side of the page. Don’t both trying to call 813-418-6141 because the line will always be busy. They are violating the Do Not Call laws and violations can lead to a $11,000 fine.

If you’re not currently on the Do Not Call Registry now would be a great time to add your home and mobile phone numbers. Just fill out the simple form and you’ll soon be added.

If you Google 813-418-6141 you’ll see this number belongs to CaliforniaShowcases.com and realestateshowcases.com. If enough Realtors complain they will pay the price and discontinue this unprofessional practice of continuously spamming us with their recorded telephone solicitations. Please file a complaint. Don’t just hang up in frustration. Be proactive and complain to the Do Not Call Registry that you are listed on their list and still having your privacy rights violated by this company.

Largo Florida Townhomes & Condos

Are you looking to buy a condo or townhome in Largo, Florida? You owe it to yourself to take a look at Cumberland Trace townhomes. Built in 2004 Cumberland Trace is one of the newest and nicest townhome or condo subdivisions in the city of Largo. Next time you’re out take a drive through the community and you’ll see that Cumberland Trace not only makes a nice investment, but it’s a fantastic community to call home.

Town houses, by definition, have 2 stories. The town homes in Cumberland Trace of Largo all have 1,271 square feet (not including the 1-car garages) with both huge bedrooms upstairs. The master bath is incredible featuring dual sinks and a garden tub larger than I have personally EVER seen in any townhome, condo or even house. You can almost swim in it. The master baths also have volume ceilings so they feel extra large. Walk-in showers too.

Cumberland Trace has a great swimming pool – and it’s heated year round! The pool is fenced in and private to residents only. There are bathrooms and a shelter for family BBQ’s.

If you’re interested in additional information about the townhomes of Cumberland Trace please call Chris at 727-804-5319. I’d be happy to help you find your next home, whether it be a purchase or a rental.

National Flood Insurance Program and Homebuyer Tax Credit Closing Deadline Both Extended

Congress has passed an extension of the closing deadline for the Homebuyer Tax Credit, the Homebuyer Assistance and Improvement Act (H.R. 5623). The extension applies only to transactions that have ratified contracts in place as of April 30, 2010, that have not yet closed. The legislation is designed to create a seamless extension; the new closing deadline for eligible transactions is now September 30, 2010. There will be no gap between June 30 and the date the President signs the bill into law.

NAR worked closely with Congressional leaders on both sides of the aisle to enact this important legislation. Extending the tax credit closing deadline will help provide additional stability to real estate markets across the nation.

Additionally, the Senate has passed the National Flood Insurance Program Extension Act of 2010 (H.R. 5569), an extension of the National Flood Insurance Program until September 30, 2010. This will allow transactions to move forward. The bill is retroactive and covers the lapse period from June 1, 2010, to the date of enactment of the extension. NAR members sent more than 250,000 letters to Members of Congress encouraging them to extend the program.

Source: National Association of Realtors, Community and Political Affairs & Government Affairs

http://www.realtoractioncenter.com/

Pending home sales drop as expected

WASHINGTON – July 1, 2010 – Following a surge driven by the homebuyer tax credit, pending home sales fell, according to the National Association of Realtors® (NAR). To qualify for the credit, homebuyers needed a signed contract by April 30, 2010.

The Pending Home Sales Index (PHSI), a forward-looking indicator, dropped 30.0 percent to 77.6 based on contracts signed in May from a reading of 110.9 in April, and is 15.9 percent below May 2009 when it was 92.3. The falloff comes on the heels of three strong monthly gains as homebuyers rushed to take advantage of the tax credit.

The data reflects contracts and not closings, which normally occur with a lag time of one or two months. However, many closings have been delayed recently from a rush of buyers into the system and slow processing of short sales, in addition to the heavy volume and a more thorough loan underwriting process.

“Consumers are rational and they rushed to meet the (April 30) tax credit eligibility deadline in April,” says NAR chief economist Lawrence Yun. “The sharp decline in contract signings in May is a natural result with similar low levels of sales activity anticipated in June. Surprisingly, though, some local markets such as Portland, Maine, and Jacksonville, Fla., actually experienced an increase in contract signings from a year ago without the tax credit.

“Existing-home sales that close in June will remain elevated, but we’ll then see a notable decline for July and August.” Read more

Show Our Troops We Care

A donation buys international calling cards that the USO gives to deployed members of the U.S. armed services – the item most requested by our men and women serving overseas.

Show our American troops we care – donate today!

May shows continued strong pace for existing-home sales

WASHINGTON – June 22, 2010 – Existing-home sales remained at elevated levels in May on buyer response to the tax credit, characterized by stabilizing home prices and historically low mortgage interest rates, according to the National Association of Realtors (NAR). Gains in the West and South were offset by a decline in the Northeast; the Midwest was steady.

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, were at a seasonally adjusted annual rate of 5.66 million units in May, down 2.2 percent from an upwardly revised surge of 5.79 million units in April. May closings are 19.2 percent above the 4.75 million-unit level in May 2009; April sales were revised to show an 8.0 percent monthly gain.

Lawrence Yun, NAR chief economist, said he expects one more month of elevated home sales. “We are witnessing the ongoing effects of the homebuyer tax credit, which we’ll also see in June real estate closings,” he said. “However, approximately 180,000 homebuyers who signed a contract in good faith to receive the tax credit may not be able to finalize by the end of June due to delays in the mortgage process, particularly for short sales. Read more

Florida’s existing home and condo sales rise in May, 2010

ORLANDO, FL., June 22, 2010 – Sales of existing homes in Florida rose 18 percent in May, marking 21 months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®.

A total of 16,745 single-family existing homes sold statewide last month compared to 14,172 homes sold in May 2009, according to Florida Realtors. The statewide existing-home median price of $140,400 in May was slightly higher – by $300 – than April’s statewide existing-home median price of $140,100. It marks the third month in a row that the statewide existing-home median price has increased over the previous month’s median.

Across the state, a variety of housing opportunities continues to be available at attractive prices while mortgage interest rates remain historically low, said 2010 Florida Realtors President Wendell Davis, a broker with Watson Realty Corp. in Jacksonville.

“Favorable conditions like this spark buyers’ interest,” Davis said. “However, like the rest of the world, Floridians are deeply concerned about the long-term ramifications of the April 20th explosion of BP’s Deepwater Horizon oil rig, which killed 11 people and triggered the oil spill disaster in the Gulf of Mexico.” Read more

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