1. Spending beyond your budget. Be aware of the hidden costs when buying a home. Consider the financial obligations beyond a mortgage that add to the cost of homeownership, including: city taxes, utilities, insurance, and maintenance - not to mention the length of a commute, given the fluctuations in gas prices. And remember updating expenses such as granite counter tops, plantation shutters, or a pool or spa.
2. Not researching your new community. Use the Internet to research real estate listings and to learn about your new home, city, local amenities, school ratings, crime rates and children's activities. Talk to parents in the community who can provide firsthand insight on the topics that are most important to you. Make sure to understand your neighborhood by day and by night before moving in.
3. Lacking a household inventory. Use photos, video, or a notebook to document valuable items. This will help you file a claim if an item is lost or damaged. Store them in a moving file or on a thumb drive.
4. Not watching how boxes are organized. One of the most common mistakes when moving to a new home is placing large items, like lawn equipment, next to boxes containing valuables in the moving truck. Keep a watchful eye on those packing for you if using a moving company.
5. Moving all belongings. Not everything has to go with you. Pack suitcases and storage bins as if you're going on a short vacation. Include essentials for the first few days in your new home. And take the time to separate items into sections of keep, sell, donate or discard before you pack.
6. Dismantling your electronic equipment without labeling wires. Take photos of the connections, and place the wires in a single box. Knowing how to reinstall your kids' computer games can be a lifesaver.
7. Not keeping important documents with you. Hang on to important documents so you can easily re-establish your lifestyle. These are needed at every stage of a move, from making travel arrangements, registering children for school and establishing new physicians using your prior medical records.
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South Florida Fair 2013!
All the info you need at http://www.southfloridafair.com/
When/Where: January 18, 2013 - February 3, 2013 - South Florida Fairgrounds in West Palm Beach
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Professional Show Management, Inc. will once again bring the Fall's largest home improvement, remodeling and design show to the Palm Beach County Convention Center.
This bi-annual Signature event has been ranked as one of the Palm Beach's BIGGEST & BEST Home Show year after year, bringing together thousands of interested consumers with a variety of new and innovative products and services on display from hundreds of local, national and international companies.
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January 18 - Feb 3 at the Fairgrounds...9067 Southern Boulevard West Palm Beach, Florida 33411
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Dec 25, 2012 - Dec 30, 2012 - Ringling Bros. and Barnum & Bailey® is proud to present A Holiday Circus Spectacular, an all-new powerful surge of circus entertainment. Come experience the magic of the season like never before with The Greatest Show On Earth® as we harness the energy of the audience to power the performers. Witness superhuman stunts so close, you can FEEL it! Celebrate as we light up the floor and transform energy and power into megawatts of thrills and excitement at this limited holiday performance. Imaginations ignite for Children Of All Ages with Ringling Bros. and Barnum & Bailey® Presents A Holiday Circus Spectacular!
All seats are reserved, and tickets are available by calling Ticketmaster at 800-745-3000. For group rates and information, call 866-248-8740
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Today, Thursday, Dec 20 6:00p to 10:00p at Jack's Electric, Lake Worth, FL ...
Walk thru one of South Florida’s largest & most impressive Christmas displays with over 1,000,000 lights and a new light show every 12 minutes. Watch it snow from our 3 large snow machines. Check out our village that has over 200 houses. See if you can find all of the Santa's in our display. Santa Claus, Mrs. Claus, The Grinch and Cindy Lou Who make guest appearances weekend nights.
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Bring on the Season as more than a QUARTER-MILLION lights dance to choreographed music in our FREE must-see light spectacular!
Downtown at the Gardens, a daily showcase of the finest shopping, dining and entertainment in the Palm Beaches; a seasonal extravaganza lighting up the holidays for you, your family and friends
6PM 7PM, 8PM, and 9PM
Nov 25 – Dec 30
Downtown at the Gardens – Centre Court
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When purchasing an older home, a 4 point inspection may be required to secure Homeowner's insurance. Citizens Property Insurance now requires this inspection for any homes 30 years or older. Many other insurance companies are also following this requirement. A Four Point inspection consists of a basic assessment of the following: - Roof ("Roof Certs" are now included in Four Point Inspections)
- Heating Ventilation and Air Conditioning (HVAC)
- Plumbing
- Electric System
Homeowners or buyers should contact their insurance agents to find out if this inspection is required. The agent will need the address of the home and the year it was built. Amerispec uses the standard Citizens form to submit this survey. If your insurance company requires a specific form for the inspection, please have a copy available at your appointment.
Can a house fail?
This is not a pass or fail situation. It is an assessment. A 4 point inspection was designed to give the insurance company information needed for risk assessment. In many cases the insurance company will allow the owner time to make any necessary repairs or upgrades. Keep in mind that the upgrades the insurance companies are looking for will make the home safer for you and your family. Working closely with your insurance agent is the key. Are General Home Inspections and the Four Point Inspection the same? No...a pre-purchase inspection and a 4 point insurance survey are not the same. The pre-purchase inspection is a comprehensive inspection that provides much more information and provides an in depth understanding of the true condition of the home. A 4 point survey does not give the buyer the same type or level of information; it is done so the buyer can obtain insurance on the property if required by their prospective insurance company. If you choose not to get a Four Point and your insurance company requires it, you may not be able to obtain insurance for the property. If you have any questions or concerns regarding a Four Point Inspection, please email or call at any time, we are happy to help. (561) 401-9169 ghartman@amerispec.net Cindy@HartmanFlorida.com |
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The Town of Jupiter and the Marine Industry Association of Palm Beach County are once again teaming up to bring the Holiday Boat Parade north to the Jupiter Lighthouse!
The beautiful waterside Events Plaza along the Jupiter Riverwalk will host a FREE special parade viewing event, including food, music, and festivities. In addition to the Riverwalk Events plaza, the boat parade can be viewed from Sawfish Bay Park and Lighthouse Park.
*Please note these additional viewing sites do not have public restroom facilities, food vendors or entertainment.
Bring your own chair, and enjoy the sounds of the season with holiday entertainment while you relax and watch the boats drift by in all of their holiday finery. The Events Plaza is an official Toys for Tots collection location, so bring a new, unwrapped toy for this annual tradition of giving.
The Riverwalk Events Plaza is located at 25 South Coastal Way under the east span of the Indiantown Road Bridge in Jupiter. From I-95, take Indiantown Road east to U.S. 1. Take a right or left on U.S. 1. Go about a block, turn west on Coastal Way. Parking is available along Coastal Way and in the parking garage just south of the Indiantown Road Bridge.
When/Where: Saturday, December 1, 2012 • 5:00 pm - 9:30 pm • Riverwalk Events Plaza
WASHINGTON – June 25, 2012 – With housing prices and mortgage interest rates at record lows, conditions are good for a home purchase.
“Buying a home is the single largest investment that most people will make in their lifetime,” said Frank Keating, president and CEO of the American Bankers Association (ABA). “An honest evaluation of your finances and thorough planning for a mortgage are essential to a wise buying decision.”
But it’s harder to get a mortgage these days. ABA offers these tips to help households prepare for buying a home.
• Review your finances. A detailed analysis is central to the buying decision. Calculate all of your fixed monthly expenses. Include a potential mortgage payment, homeowner’s insurance, taxes and condo fees. Also include obligations like car payments, credit card debt and living expenses. Add home maintenance costs as well.
• Check your credit score. Your credit history is an important factor when applying for a loan. Most lenders rely on the Fair Isaac Corporation (FICO) credit score when reviewing a loan application. The score reflects how well you manage debt and is calculated using data from your credit report. A lower credit score will result in a higher mortgage interest rate; if it’s too low, you may not be approved for a loan at all. There are ways to improve a credit score over time, however, such as paying bills on time, only opening lines of credit you need and keeping credit card balances below half of your available credit.
• Organize your finances before you go to the bank. Getting a loan requires documentation including, but not limited to, pay stubs, tax returns and financial statements less than 60 days old. Provide copies of additional monthly payments such as car loans, credit cards and student loans.
• Factor in closing costs. Once you sign a contract to buy a home, expect additional “closing costs” when it’s time to make the purchase. The costs vary depending on the purchase price, contract details, and whether a real estate attorney or title/escrow company is involved in the transaction. By law, lenders must give you a written estimate of closing costs within three days of accepting your loan application.
ABA offers interactive calculators on its website to help potential buyers estimate the cost of a mortgage. (Link underlined to: http://www.aba.com/aba/static/calculators.htm.
© 2012 Florida Realtors®
CHARLOTTE, N.C. – June 20, 2012 – First-time homebuyers must leave their comfort zone when applying for that first mortgage, and even move-up buyers can feel uncomfortable. But basing a final decision on a specific lender or even type of mortgage doesn’t make sense without all the facts.
Prospective homebuyers should interview more than one lender, ask the right questions, and compare the answers. There is no best mortgage. The conditions and rates that work best for one household may not be ideal for another.
LendingTree asked over 300 lenders on the LendingTree Network this question: “In your professional opinion, what is the best questions all borrowers should ask their potential lender?” The top five answers are:
1. What are the total costs involved with the loan?
2. What is the best program for me, based on my financial goals and situation?
3. What documents will be required ahead of time to avoid delays?
4. What are the service ratings for your company, and where can I find them?
5. How long have you (the loan officer and the company) been in the mortgage business?
“Consumers have very little confidence that they will be able to qualify for a mortgage, let alone find a great deal when it comes to a home loan,” says Doug Lebda, chairman and CEO of LendingTree. “But with rates as low as they are, borrowers have the opportunity to tap into substantial savings. If you have the right information, know what to do and what to avoid, there’s no need to be intimidated or shy away from the process.”
© 2012 Florida Realtors®
Did you ever dream about having a flying car when you were a kid? or this morning in traffic?
I heard in the news that a Dutch company is now taking orders for one. I immediately had visions of the one on the Jetsons. Unfortunately, it is more like a motorcycle with a helicopter attached. I guess it's a start. The DUTCH FLYING CAR!It did get me thinking about all the other gadgets I dreamed of as a child. What did you always wish for?
All My Best,
Cindy |
The cumulative median sales price, including single-family homes, townhomes and condominiums in Palm Beach County, was 2.5 percent above February 2011, up from $122,000 to $125,000, and up 4.6 percent from the previous month of $119,500. The median single-family home price showed a significant increase from $175,000 the previous month to $190,000.
Check this out for more information...Palm Beach County Market Update
Visit houselogic.com for more articles like this.
Copyright 2012 NATIONAL ASSOCIATION OF REALTORS®
By Stephen Fishman
Inman News®
Over the past several years, millions of homeowners have had billions of dollars in mortgage debt forgiven, either through foreclosure, refinancing or short sales. It's important for real estate professionals and homeowners to understand that mortgage debt forgiveness has significant tax consequences.
Here are 10 things the Internal Revenue Service says you should know about mortgage debt forgiveness:
1. Normally, when a lender forgives a debt -- that is, relieves the borrower from having to pay it back -- the amount of the debt is taxable income to the borrower. Thus, a homeowner who had $100,000 in mortgage debt forgiven through a short sale would have to pay income tax on that $100,000, as an example.
Fortunately, under the Mortgage Forgiveness Debt Relief Act of 2007, you may be able to exclude from your taxable income up to $2 million of debt forgiven on your principal residence from 2007 through 2012. This means you don't have to pay income tax on the forgiven debt.
2. The limit is $1 million for a married person filing a separate return.
3. You may exclude from your taxable income debt reduced through mortgage restructuring, as well as mortgage debt forgiven in a foreclosure.
4. To qualify, the debt must have been used to buy, build or substantially improve your principal residence and be secured by that residence.
5. The Mortgage Forgiveness Debt Relief Act applies to home improvement mortgages you take out to substantially improve your principal residence -- that is, they also qualify for the exclusion.
6. Second or third mortgages you used for purposes other than home improvement -- for example, to pay off credit card debt -- do not qualify for the exclusion.
7. If you qualify, claim the special exclusion by filling out Form 982: Reduction of Tax Attributes Due to Discharge of Indebtedness , and attach it to your federal income tax return for the tax year in which the debt was forgiven.
8. Debt forgiven on second homes, rental property, business property, credit cards or car loans does not qualify for the tax-relief provision. In some cases, however, other tax-relief provisions -- such as bankruptcy -- may be applicable. IRS Form 982 provides more details about these provisions.
9. If your debt is reduced or eliminated, you normally will receive a year-end statement, Form 1099-C: Cancellation of Debt, from your lender. By law, this form must show the amount of debt forgiven and the fair market value of any property foreclosed.
10. Examine the Form 1099-C carefully. Notify the lender immediately if any of the information shown is incorrect. You should pay particular attention to the amount of debt forgiven in Box 2 as well as the value listed for your home in Box 7.
The IRS has created a highly useful Interactive Tax Assistant on its website that you can use to determine if your canceled debt is taxable. The tax assistant tool takes you through a series of questions and provides you with responses to tax law questions.
For more information about the Mortgage Forgiveness Debt Relief Act of 2007, see IRS Publication 4681: Canceled Debts, Foreclosures, Repossessions and Abandonments. You can get it from the IRS website at irs.gov.
Stephen Fishman is a tax expert, attorney and author who has published 18 books, including "Working for Yourself: Law & Taxes for Contractors, Freelancers and Consultants," "Deduct It," "Working as an Independent Contractor," and "Working with Independent Contractors." He welcomes your questions for this weekly column.