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5/8/2008
FYI from the Citrus County Sheriffs Dept. (edit/delete)
Storm season is fast approaching and there are several things the Citrus County Sheriffs Dept would like you to do.
1.) go www.floridadisaster.org and print out a disaster plan for residential and commercial. It is a really neat program. You fill out the info and it will print you out exactly what you will need during a disaster.
2.) go to www.sheriffcitrus.org and sign up for code red weather. If there are any storms or tornados approaching you will get a phone call at any number you choose (home, office, cell).
3.) Visit any Sheriff Sub station and pick up your re-entry sticker. Each area has a different color and number, if you have been evacuated, you will not be allowed back in your neighborhood without the sticker.
If you have any questions you can call 352-746-6555
3/4/2008
Six companies agree to extend help to homeowners on the brink of foreclosure.
Six big mortgage companies want to throw out a lifeline to struggling customers - if they can capture their attention.
With fanfare and the blessings of the Bush administration, the companies launched "Project Lifeline" on Tuesday as a last-ditch effort to communicate with homeowners on the brink of foreclosure.
It's the second major government initiative announced in recent months to help homeowners hold on to their property. In another program announced in December, mortgage companies agreed to offer a five-year interest rate freeze to some borrowers with subprime credit and adjustable-rate loans about to reset.
The new effort targets a much larger group: borrowers with any type of mortgage that is several months' delinquent. While mortgage companies say they already were willing to negotiate with those customers, they have trouble reaching them. Federal housing officials said only about half of the borrowers in the foreclosure process ever have spoken to their lenders. The hope is that Lifeline publicity will prompt borrowers to get in touch.
Here's a look at Project Lifeline.
Which mortgage companies are participating?
Bank of America, Citigroup, Countrywide, JPMorgan Chase, Washington Mutual and Wells Fargo. Together they service about half the mortgages in the country.
Which properties qualify?
Owner-occupied homes, not investor homes. Letters will go out to homeowners who are at least 90 days behind on mortgage payments, but borrowers don't have to wait until they are that far behind to call their mortgage companies and ask for help. To qualify for Lifeline, the property cannot have a foreclosure sale date set within the next 30 days and the homeowner cannot be in bankruptcy.
What kind of help will borrowers get?
That will be determined case by case. In some instances, the company will reduce the monthly payment by lowering the interest rate and lengthening the term of the mortgage. Foreclosure may be postponed a month while a plan is being developed. If a borrower follows the new plan for three consecutive months, the loan will be formally modified. Washington Mutual says its assistance program includes extended forbearance and even partial debt forgiveness.
Whom can I call right now?
Call your mortgage company directly or call the toll-free HOPE Hotline (1-888-995-HOPE) set up by the Homeownership Preservation Foundation. Other mortgage companies also may agree to loan modifications even if they are not part of Project Lifeline.
2/12/2008 WASHINGTON (Feb. 12) - Homeowners threatened with foreclosure would in some instances get a 30-day reprieve under a new initiative the Bush administration announced Tuesday.
These lenders say they will contact homeowners who are 90 or more days overdue on their monthly mortgage payments. They will be given the opportunity to put the foreclosure process on pause for 30 days while the lenders try to work out a way to make the mortgage more affordable to the homeowner.
"Project Lifeline is a valuable response, literally a lifeline, for people on the brink of the final steps in foreclosure," Housing and Urban Development Secretary Alphonso Jackson, said at a joint news conference with Treasury Secretary Henry Paulson .
He said the goal was to provide a temporary pause in the foreclosure process "long enough to find a way out" by allowing homeowners and lenders to negotiate a more affordable mortgage.
Paulson said that the new effort was just one of a number of approaches the administration was pursuing with the mortgage industry to deal with the country's worst housing slump in more than two decades.
In December, President Bush announced a deal brokered with the mortgage industry that will freeze certain subprime loans, those offered to borrowers with weak credit histories, for five years if the borrowers are unable to afford the higher monthly payments as those mortgages reset after being at lower introductory rates.
"As our economy works through this difficult period, we will look for additional opportunities to try to avoid preventable foreclosures," Paulson said. "However, none of these efforts are a silver bullet that will undo the excesses of the past years, nor are they designed to bail out real estate speculators or those who committed fraud during the mortgage process."
Participating lenders are Bank of America Corp., Citigroup Inc., Countrywide Financial Corp., JPMorgan Chase & Co., Washington Mutual Inc. and Wells Fargo & Co.
Source: Marcy Gordon~AP
1/10/2008 Gov. Crist Conference Call
Gov. Crist is hosting a listen only conference call tonight at 6:45pm. Gov. Crist will discuss the importance of the Yes on 1 Property Tax Amendment and highlight the key points of the the amendment. The call is open to everyone who would like to participate.
listen only dial in: 888-791-4326
Confirmation Code: 4112725
1/3/08 Snow Flurries in Florida?
Temperatures in many areas of northern Florida dropped into the 20s early Thursday, following the 30-degree temperatures some northern parts of the state saw Wednesday. Snow flurries were reported near the Daytona Beach coastline, the first in Florida since 2006
Source: AP
12/21/2008 Bush Signs Mortgage Tax Relief Into Law
Daily Real Estate News | December 21, 2007
President George W. Bush signed legislation into law on Thursday that will ease the tax burden for home owners who have had debt forgiven on a mortgage due to a foreclosure, short sale, or deed in lieu of foreclosure. The bill — Mortgage Forgiveness Debt Relief Act — has been supported by NAR since the 1990s.
"The president offered a Christmas present to many people who have suffered the agony and humiliation of losing their home," said NAR President Dick Gaylord in a statement. “Today’s bill will ensure that any debt forgiven on a mortgage secured for a principal residence will not be taxed. This is very significant legislation."
The tax code used to require a lender who forgives debt to provide a Form 1099 to the IRS stating the amount the borrower had been forgiven. If the property was sold at foreclosure or was sold for less than what was borrowed, that difference was considered income and subject to the tax.
“We have always believed that it is clearly an issue of fairness and of not kicking people when they are down,” Gaylord said. “By making the forgiven debt taxable income, individuals in already unfortunate situations most likely faced IRS actions because they did not have the money to pay the additional taxes. This legislation will relieve that additional burden and may also encourage families to work with their lender to negotiate terms, knowing they will now not be subject to an IRS bill.”
11/19/2007 Realtors joinng together to Help those in need
Citrus County may be small, but we are fierce. We recently held a 2 week office challenge to benefit the Family Resource Center in Hernando, FL. We asked every office to collect canned goods and toiletries and boy did they!! Although only 15 office out of 125+ joined in, we collected almost 4,000 items!!
We borrowed a local Real Estate companies moving van and drove around picking up the donations. The look on Ginger Wests' (Director for the Family Resource Center) face was priceless.
Ginger told us they feed about 1500 families a month and there cabinets were bear, so these donations came at the perfect time for them.
Our Assoc. also holds a toy drive and auction to benefit the Center every Dec. Generally we deliver 3-4 truck loads of toys and $8-$10,000 to them (that is 10% of their yearly budget). It is such a great feeling to give back in our own community.
10/30/2007 A property tax relief plan awaits Florida voters when they go to the polls on January 29th.
Monday night, state lawmakers passed a constitutional amendment to cut property taxes. The agreement came after the House reluctantly passed a take-it-or-leave-it compromise that the Senate offered.
The proposed state constitutional amendment would increase exemptions for primary homes -- known as homesteads -- for an
average estimated savings of $240 a year per taxpayer. Also, for the first time it would cap assessments on other properties --
businesses, second homes and rentals.
A tax fix?
A "portability" provision would let homesteaders take at least part of the benefits they get from the existing Save Our Homes
assessment cap with them when they move.
But not all lawmakers are happy about the deal.
To come back at the last minute with this nonsense is a slap in my face,'' said Rep. Julio Robaini (R) Miami. "It's insulting to this body and it should be insulting to everybody in the state of Florida.''
But lawmakers in favor of the agreement said it is just a beginning of fixing the state's tax issues.
"People were debating property taxes back in the early '80s,'' said Rep. Dean Cannon, a Winter Park republican. "You know, this is a perennial thing. As long as we don't think this is the last step, it's just the next step, then I think we'll be fine and I think that's what the voters expect of us.''
10/29/2007Here are a few safety tips for Halloween:
Make sure your yard is clear of such things as ladders, hoses, dog leashes and flower pots that can trip young ones
Battery powered jack o' lanterns candles are preferable to a real flame
Pets get frightened on Halloween. Put them up to protect them from cars or inadvertently biting a trick-or-treater
Healthy food alternatives for trick-or-treaters include packages of low-fat crackers with cheese or peanut butter filling, single-serve boxes of cereal, packaged fruit rolls, mini boxes or raisins and single-serve packets of low-fat popcorn that can be microwaved later
Non-food treats: Plastic rings, pencils, stickers, erasers, coins
10/16/2007 3:41pm Managing insurance issues can be challenging in today’s market, and FAR is pleased to offer suggestions and ideas to help you meet these challenges. Take advantage of the many innovative insurance reforms passed by the Legislature earlier this year, and feel free to share the following information with your customers and clients. It’s an easy way to add value to the outstanding service you provide as a Realtor every day. We also suggest you and your clients contact your insurance agent for additional money-saving tips and to ensure you have the right amount of insurance coverage.
Because of recent changes to Florida law you can:
Reduce rates by excluding windstorm insurance coverage;
Reduce rates by excluding personal contents coverage;
Reduce rates by taking action to protect your property against windstorm and notifying your insurance company that you have installed opening protections (garage door, windows and doors) and strengthened the roof;
Reduce rates by excluding sinkhole coverage;
Reduce rates by choosing a deductible that best fits your financial situation. Insurers are required to offer, at the time of a policy’s renewal, many deductible alternatives. Find the right one for you;
Choose quarterly and semi-annual installment plans to pay your premium.
10/16/2007 3:36pm Here are some helpful sites to look at for more info on the tax reform.
Super Homestead Exemption Calculator midas.fgcu.edu
Side by side comparison of legislatures property tax reform www.floridarealtors.org
FAR chief lobbyist John Sebree discusses the issues and answers questions about property tax reform www.floridarealtors.org
Go take a look!!
10/11/2007 3:26pm What does Citrus County Have To Offer?
I think the question is what doesn't Citrus County offer?
Here is a list of events, places to visit and places to eat in Citrus County. Hope you enjoy!!
Events:
February~ Mantaee Festival: Art, Children Activities, Manatee Education, Food, Entertainment, crafts
March~Strawberry Festival: Arts, crafts, contest, prizes, food
November~ Seafood Festival: Arts, Crafts, Food, Raffles www.homosassaseafoodfestival.com
December~ Country Rocks the Canyon: Top Country Acts perform www.citrusbgc.com
Places to visit:
Homosassa Wild Life Park: www.homosassasprings.org
Swim with the Manatees
Fishing, golfing, kayaking
Places to eat:
Cafe on the Avenue, Crystal River Wine and Cheese, Backwater Jacks (waterfront), Pecks old Port Cove (waterfront), Riverside Crab House (Waterfront)
10/3/2007 8:59pm Ok it seems to me that over the past several weeks the market has picked up in Citrus County. We have had real live buyers willing and able to buy. As I walk throught the office and talk to other agents they are also showing property, writing offers and getting offers on their listings.
Last week I showed property 5 days and twice I showed property until late into the evening (one night it was after 7pm and another night it was until 9pm).
My phone seems to ringing a lot more and people are doing more than just looking. It also seems that the offers that are coming in are not as low as they had been. Hopefully things keep going this direction!!!
10/2/2007 4:49pm Yesterdays Golf Tournament was great. The rain held out just long enough to fininsh and we raised over $7,000!! All in all we have raised over $20,000 this year and $100,000 over the past 14 years. Thank you to all who helped and participated. See ya next year!
9/28/2007 9:24am Monday October 1st, 2007 we will be holding our 14th annual Habitat for Humanity Golf Tournament. The Realtors Assoc. of Citrus County has raised over $100,000 in the last 14 years!! This year we will be co-sponsoring a Habitat House!!
Besides being the Co-Chairs for Habitat , we are also members of the Young Professional Council which raises money and needed items for the Family Resource Center, Sponsored a scholarship for Take Stock in Children, we have a team for the American Cancer Society Relay for Life and many other organizations.
9/27/2007 4:15pm Less than 6 months after introducing the new 50-G program, EXIT Realty Florida is celebrating its first success! The program which offers a $50,000 cash incentive, was created to boost sagging Florida home sales by attracting agents to targeted properties. On August 22, 100 qualifying agents from 27 different Real Estate companies across the state gathered to play in a game of skill and Michelle Algin of RE/MAX Realty Resources has walked away with the grand prize of $50,000.00!
The 50-G program was introduced in Florida by EXIT's regional owner, Scott Forbes. based on the idea of uniting the entire Real Estate sales community, the program offers home sellers, listing agents, and buyer's agents a competitive advantage by driving interest to specific properties. The selling agent of each property sold through the program is automatically eligible to compete for the %50,000 cash reward. Agents from any Real Estate company are eligible to participate.
Forbes says, "The results are worth celebrating. EXIT Realty is known for our innovative spirit, and the 50-G Program has been a driving force for increased activity". Office across the region report that homes in the program are selling faster than non-program listings. Forbes credits his success to the agents and says he was ecstatic to hand over the first award. "This really is a testament to Flrodia's Real Estate professionals who give so much to our community. EXIT Realty is privileged to be able to give something back". The awards ceremony was a great success.
Source: EXIT Realty Florida
9/26/2007 9:37pm Did you know that Florida is 1st in the Nation for fraud and foreclosure and Citrus County is 7th in the nation!! Some of the Fraud being committed is offering the sellers a lot more than they are asking for. The buyers than use their appraisal company and title company to get the job done, walking away with cash out at closing. Most of the people committing fraud are now being foreclosed on.
Remember, if you are in pre-foreclosure and someone asks you to deed your home to them but keep the mortgage in your name, that is fraud!! If something sounds too good to be true it probably is!!
9/25/2007 10PM John Sebree, FAR'S Vice President of Public Policy addressed our association this afternoon and then the public this evening. There is lots of info available at www.floridarealtors.org scroll down and on the right is a link that says Tax Reform Toolbox. FAR Is going ahead as if it WILL Be on the ballot
9/25/2007 Noon A Judge for Leon County ruled the January 29 tax reform ballot summary is misleading and threw it off the ballot. Several things can now happen. It can be appealed but more than likely it will be corrected by the legislature. They can put something on the ballot as long as it is voted on by them 90 days prior to the election. The legislature is coming back into special session in early October anyway. John Sebree will continue to speak at local boards as if the amendment is definitely on the January ballot
Citrus County Info activerain.com
The All Pro Team Blog activerain.com
Another Blog site: allproteam.featuredblog.com
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