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What kind of properties are these?

Posted by on Feb 26, 2020 in Florida Real Estate, Home Owner Tips, Real Estate | 0 comments

It is the way the property is used that determines the type of property it is, not what it looks like.  Based on the intent of the owner, the property could be a principal residence, income property, investment property or dealer property. A principal residence is a home that a person lives in.  There can be only one declared principal residence.  It is afforded certain benefits like deducting the interest and property taxes on a taxpayers’ itemized deductions, up to limits.  Up to $250,000 of gain for a single taxpayer and up to...

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Water leak detection, read on…

Posted by on Jul 7, 2019 in Home Owner Tips | 0 comments

Check for the Obvious First Aside from standing water in your yard or water running out from under a sink, the first indication that you might have a water leak comes from a larger than normal water bill.  Before calling a leak specialist or a plumber, there is a simple diagnostic you can perform. Go through your home and make certain that all the faucets are turned off and that the toilets have indeed stopped filling the reserve.  Then, go to the water meter and make a mark on the lens where the dial is currently.  If there is water in the...

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Taxes and the Homeowner

Posted by on Jun 28, 2019 in Home Owner Tips | 0 comments

Whether you’re an owner now or expect to be one in the future, it is important to be familiar with the federal tax laws that affect homeownership.  Since personal income tax was enacted in 1913 with the 16th amendment, homes have had preferential treatment. The mortgage interest deduction is based on up to $750,000 of acquisition debt used to buy, build or improve a principal residence.  In addition to the interest, the property taxes are deductible, limited to the new $10,000 limit on the aggregate of state and local taxes (SALT).  The...

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Take A Home Inventory

Posted by on Jan 25, 2019 in Moving Tips | 0 comments

Take A Home Inventory Generally speaking, when you need an inventory of your personal belongings, it is too late to make one.  Sure, you can reconstruct it. But undoubtedly, you’ll forget things and that can cost you money when filing your insurance claim. Most homeowner’s policies have a certain amount of coverage for personal items that can be 40-60% of the value of the home. Homeowners who have a loss are usually asked by the insurance company for proof of purchase. Which can come in the form of a receipt or current inventory...

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Do You Know the Way?

Posted by on Nov 20, 2018 in Real Estate | 0 comments

It may be natural for first-time buyers to be unsure of the process of buying a home because they haven’t been through it before but even repeat buyers need to know changes that have taken place since the financial housing crisis. The steps in the home buying process are predictable and generally follow the same pattern.  It certainly makes the move stay on schedule when you know all the different things that must be done to get to the closing. In the initial interview with your real estate professional, you share the things you want...

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First Time Buyers look to 203k Loans

Posted by on Nov 13, 2018 in Florida Real Estate, Mortgage, Real Estate | 0 comments

It’s been said that if you can find a home that has most of what you want, you should go ahead and purchase it.  Many first-time buyers are using everything they have for a down payment and closing costs and would have to “live” with the less than perfect home until they can save the money to make the changes. The FHA 203(k) mortgage allows a borrower to purchase a home and provides additional funds for improvements to be made.  These types of renovations can include kitchen and bathroom remodels, flooring, plumbing, heating...

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Efficient Palm Harbor FL Home

Posted by on Jun 26, 2018 in Florida Real Estate, Palm Harbor Homes | 0 comments

Palm Harbor FL Home for Sale Fantastic Palm Harbor Home for sale close to the Pinellas trail and the Gulf of Mexico. Newer kitchen, easy closing drawers, granite countertops. Most flooring is neutral tile, sunk-in living room is carpet. It is a 3 bedroom, 2 bath 2 car garage, pool home. The interior and exterior have been freshly painted and the kitchen is up to date. Both baths have been renovated with gorgeous tile. The living area is open and spacious and the master is split from the other two bedrooms. There is a large den area and an...

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Down Payment Assistance

Posted by on Feb 12, 2018 in Florida Real Estate, Mortgage, Real Estate | 0 comments

Down Payment Assistance in Tampa Bay I believe so strongly in down payment assistance as being a vehicle to get renters into home ownership. Being a teacher in Tampa Bay for first time home buyers over the years, I have stressed home ownership as being a way to get ahead in life. You and I know that renting is throwing away money. I think back to just last January, when I held some classes at my office for first time home buyers. People mentioned that prices were going up. Now here we are a year later and 10% increases in home prices from...

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