Archive for February, 2009
Do it yourself or Hire a Pro: Fixer-Uppers offer Opportunity
February 22nd, 2009 Categories: Credit & Financing, First Time Home Buyers, Foreclosures/ Bank Owned
The oft heard phrase “Buyer Beware” is never more appropriate than when considering the purchase of a fixer-upper.You really need to know exactly what you’re getting into before buying.
It’s commonly believed that fixer-upper properties represent easy money that is ripe for the taking – that you can buy it, do a little work on it in your spare time, and then resell quickly for a large profit. Usually, this simply isn’t the case. Although, with proper planning and foresight, good profits can be made by buying “distressed” properties at less than market value, making appropriate improvements and repairs, and then reselling. And for many first time buyers who intend to live in the house while working on it, buying a fixer-upper can be the very best option. It’s less risky buying a fixer-upper when you can live in the house while fixing it. And of course, by living in the house for at least 24 months you should be able to avoid paying regular income taxes on the profits. Read the rest of this entry »
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Economic Stimulus Plan has Benefit if you’re Buying a Home
February 19th, 2009 Categories: Credit & Financing
Expansion of First-time Home Buyer Tax Credit
The tax credit available to first time home buyers was increased from $7,500 to $8,000 for homes purchased between January 1, 2009, and December 1, 2009. Also, the credit no longer needs to be paid back as long as you live in the home without selling it for at least 3 years. The previous version of the credit expired on July 1, 2009, and required home buyers to pay the funds back over a 15 year time frame.
The income limitations remain the same ($75,000 for single tax payers claiming the full credit and $150,000 for married tax payers), as do most other qualification requirements. Also, the credit remains refundable. This means that first-time home buyers who owe less than $8,000 in taxes for the year are still eligible for the full $8,000 credit when they file their tax returns. In that case, the IRS will write you a check for the difference between $8,000 and your actual tax bill. In fact, the credit can be claimed on your 2008 tax returns that you file by April 15, 2009, even if you buy the home in 2009.
There is one catch, though, if you bought the home in 2008, the credit remains $7,500, and it still needs to be paid back over a 15 year timeframe beginning in 2011 when you file your 2010 returns.
Rick Frissell, Agent- Diamond Dwellings Realty- Florida
P.S. This is great news, you may want to forward it to family or friends…..
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Reflections of the Super Bowl Chauffeur
February 4th, 2009 Categories: Tampa
If you were wondering, I was behind the wheel of the Lincoln Towncar for 57.5 hours over a span of 4 and a half days. The average time driving the client per day was 2 hours. The rest of the time is waiting.
The restrictions were greater than I thought they would be. You have to be 2 to 5 minutes within range of when you are called by the client. That gives them enough time to call down for their driver (me) and take the elevator to the lobby.
I had no surprises and if I had any disappointments it would only be that use of my lap top was more restricted than I thought it would be. WiFi was never available and so blogging as the day would pass was not realistic. Read the rest of this entry »
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Using social networking as a marketing tool to sell homes
February 2nd, 2009 Categories: Diamond Dwellings, Tampa
Our friend and associate Lane Bailey of Diamond Dwellings Realty Lilburn, GA office (near Stone Mountain) was recently interviewed by the Atlanta Journal Constitution about his unique niche in the home market and his ability to market homes via the internet and social networking tools such as ActiveRain, Facebook, Twitter to name a few.
Lane also specializes in what he terms Garages with Homes Attached. In case you didn’t get it, Lane is a certified car nut, but all around good guy. In the area of web 2.0 and social networking, he is somewhat of a guru and has quite a following of others in the real estate industry who seek his thoughts and ideas.
The whole Diamond Dwellings Realty concept is built around the premise that in the “New Age” of real estate, internet marketing via what is termed web 2.0 platforms and the use of other 21st century tools such as using video and social networking is the wave of the future, but it’s being utilized today by various Diamond Dwellings offices.
To hear more about the concept and how Diamond Dwellings Realty- Florida can market your home our assist you in finding just the “right” home for you, please give us a call or send us an e-mail. Careful though, this isn’t your grand daddy’s real estate company. Don’t expect the huge brick and mortar office or our agents to drive a Mercedes Benz, just expect great service utilizing all of the marketing tricks we have learned thus far and great service. If you are in the real estate business, we offer an unprecedented opportunity for you to be cutting edge and to control your market area.
Dave Tipton, Broker- Diamond Dwellings Realty- Florida
About the Author: Dave Tipton is a Florida licensed real estate broker with Diamond Dwellings Realty- Florida. Dave’s office is in Brandon, Florida which serves eastern Hillborough County. Dave Tipton can be reached at dave@diamonddwellings.com or 813-653-1241.
If you are interested in a career in real estate or associating with Diamond Dwellings Realty, please contact Dave! All calls and inquiries will be held in the strictest confidence.
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