IT'S NOT THE SUNSHINE -- IT'S THE TAXES
At least one expert is advising Florida's snowbirds to make it official:
Declare legal residence in Florida and spend less time up north. In doing so, says Allan R. Lipman, an attorney licensed to practice law in both New York and Florida, snowbirds will save money in property taxes, courtesy of Florida's Save Our Homes (SOH) property tax cap -- a protection that does not exist in other states.
credit to
http://planetrealtor.com/Florida/News

Four ways to foster a fast sale in a slow market
ORLANDO, Fla. -- Oct. 10, 2006 -- A tougher housing market means that real estate practitioners must take every opportunity to get their listings noticed. Here are some ways that sellers can work with their practitioners to foster a faster sale:

• Exposure, exposure, exposure. Sure, it may inconvenient to have buyers visit the home at unpredictable times. But limiting the times at which buyers can view the house may mean that they’ll look at other homes instead. “More showings equals greater interest equals greater likelihood for more money,” says David Martz, an associate with Re/Max Valley Properties near San Jose, Calif.

• Lookers come; sellers go. Sellers should leave the house when buyers arrive. Having the sellers around can make buyers uncomfortable. “Their very presence can be contrary to the merchandising experience,” says John Dozier, owner of Cupertino Properties.

• Competitive commissions. Make sure the commission being offered to the buyer's agent is competitive, even if the seller’s agent is offering to take a smaller than usual commission. Otherwise, buyers' agents could focus on other homes first.

• No surprises. Don’t forget to mention things that could make a buyer or a buyer’s agent feel disappointed the first time they see the property: a bad roof, a foundation that needs major repairs. Disclose these flaws in the listing notes as well as the legal disclosures so buyer’s agents can prepare their clients before showing them the property.

REAL ESTATE INVESTMENTS
Despite a cooling housing market, real estate investment funds are up about 22.16 percent so far this year, and are on track to top the market for the seventh straight year, according to Lipper Inc.
Read the full story:
http://www.planetrealtor.com/florida/news/daily/news.cfm?article=n5-10042006

Super-Luxury Homes,

This is quite the article, Residential listing prices are making history, for the first tim ever prices have gone over $100 million dollars, thats $100,000,000.00 for a house!!!

Check out this article.

http://www.planetrealtor.com/florida/news/daily/news.cfm?article=n5-10022006

Quality Isaac Construction built home features: stone & hardy board exterior, maple cabinets, 10’ ceilings, crown molding, stone fireplace with gas logs, pecan hardwood floors, his/her wi closets, oversize Jacuzzi, rain head, 3020 sq ft under roof, 2’’ plantation blinds & more.

Over 10 acres of beautiful land has a fish pond, part planted pine & grass pasture land. 32X36 Pole barn, 12x14 shed, 2nd septic for RV hookup, large oaks, pecan trees, paved circle drive….

Call for your personal tour today.

PENDING HOME SALES
Pending home sales are up, a sign that a stabilization is taking place in the housing market, according to NAR. The index, based on contracts signed in August, rose 4.3 percent to a level of 110.1 from a reading of 105.6 in July, but it's 14.1 percent lower than August 2005.
Read the full story:
http://www.planetrealtor.com/florida/news/daily/news.cfm?article=n3-10032006

Grettings,

Have you checked out www.Trulia.com lately? Its still really just in the beta stage & runs a little slow, but there are some quite useful tools on there for finding home values, mapping software, etc.

The market analysis is very broad & not specific information or adjustment for advantages that your home may have. Feel free to email with any questions or if you would like additional market analysis done on your property.

Chad.

Shaq Takes Jump Shot into Real EstateBasketball star Shaquille O'Neal has started a real estate development company that already has bought more than $50 million in properties.good."Source: Bloomberg News (09/20/2006)

http://www.realtor.org/RMODaily.nsf/pages/News2006092107?OpenDocument

MORTGAGE RATES
Rates on 30-year mortgages fell this week to 6.40 percent, its lowest level in six months, according to Freddie Mac's weekly nationwide survey. Rates hit a four-year high of 6.80 percent on July 20, but investors' inflation fears have subsided, easing the pressure on mortgage rates.
Read the full story:
http://www.planetrealtor.com/florida/news/daily/news.cfm?article=n1-09222006

PROPERTY INSURANCE
It won't be much, but Florida homeowners -- especially those in counties with higher damage from sinkholes -- soon could see a dip in their skyrocketing homeowners insurance costs.
Read the full story:
http://www.planetrealtor.com/florida/news/daily/news.cfm?article=n3-09082006

Mortgage Rates Decline to 5-Month LowLast week’s better-than-expected reading on the Consumer Price Index helped to push mortgage rates down to a five-month low, according to Bankrate.com’s weekly mortgage survey of large lenders.
The average 30-year, fixed-rate mortgage fell to 6.48 percent, the lowest since March 29, while the average 15-year, fixed-rate mortgage, popular for refinancing, dropped by a similar amount to 6.19 percent

Home warranties can be a very useful tool for avoiding alot of hassles with all the mechanical items in a house. The company, Old Republic would be an excellent choice. I have been very impressed with their service, website, account executives, etc.

http://www.orhp.com/

AN OFFER YOU CAN'T REFUSE
A good home in good condition in a good neighborhood offered at a fair price will still sell in a reasonable amount of time, experts say.
But in today's market, some owners want to offer a little extra incentive to help their home sell as quickly as possible. Here are some
suggestions:
• Pay homeowners' association fees for up to two years.
• Pay the buyer's home insurance for up to a year.
• Offer a bonus to the buyer's agent.
• Buy down the mortgage rate by a percentage point or two to lower the buyer's monthly payment.
• Pay closing costs.
• Replace all the appliances with new ones

Excellent location in desirable neighborhood on a great lot. Home features a spacious master bath with large garden tub, large wi closet, gas log fireplace, back porch wired for cable, & much more. All stainless steel appliances included! Also wired for a well.

New listing in Lake City, Florida. Beautiful home for sale.
Location! Location! Quiet & quality neighborhood, very close to schools, town, shops, & hospital.

This home features: Quality bathroom tile in large master bath, open floorplan, tall vaulted ceilings, accents, large back screened-in porch, back yard patio & more. Call for a personal tour today.

PROPERTY INSURANCE
News reports focus on the large property insurers that are canceling policies and cutting back on coverage, but some small insurers see Florida as an opportunity for growth. Since the start of 2005, 24 new insurance companies have entered the state and opened their doors for business.
Read the full story:
http://www.planetrealtor.com/florida/news/daily/news.cfm?article=n5-08092006

SELLING A HOME IN A COOLING MARKET
A drop-off in buyer demand and rising home inventories has made marketing a home more difficult. RealEstateJournal.com, The Wall Street Journal's guide to property, offers tips:
1. Size up the playing field. Study your local market and investigate other homes' listing prices compared to what buyers are actually paying.
2. Price competitively. Price a residence just below what the market will bear. If a home is overpriced, a buyer will dismiss it and move on to the next one.
3. Do your legwork. Use aggressive marketing.
4. Don't delay. Point out to a seller that even if an offer isn’t all he had hoped, taking it instead of waiting for a better deal can save money in the long run.
5. Negotiate. Recommend that sellers offer concessions to potential buyers, such as making minor fixes. Small expenditures speed a sale and, ultimately, preserve price gains.

Renting Can Cost 7 Times More Than OwningOwning a home makes financial sense for a lot of current renters, but many are reluctant to take those first steps. Here's how to help them move forward.Read more >

6 Simple Ideas for Beautifying a House(July 3, 2006) -- When potential buyers look at a half-dozen similar homes, chances are the one they will buy is the one they consider the “prettiest one,” says Mark Nash, real estate professional and author of "1001 Tips for Buying & Selling a Home."Here are a half-dozen tips for making sure that your customer’s home is the prettiest.

• Strip away the window coverings – especially heavy drapes – and replace them with simple shades, then have the windows cleaned by a pro.
  
• Update lighting fixtures. Replace stodgy chandeliers and ceiling fixtures with something contemporary.
  
• Remove all the old wallpaper. Some home buyers won’t consider a property if there is wallpaper on the walls.
• Get rid of ratty furniture and rent new pieces if necessary.
  
• Neutralize kids’ rooms – remove the evidence that the child is a boy or a girl.
  
• Get rid of all of the family pictures.

Here is some interesting data from the North Florida MLS service regarding the 1st 1/2 of 2006 vs first 1/2 of 2005.

1-1 thru 6-30 2005/2006 – Areas 1, 2, 3, 4, 13 Columbia County

Single family residential

2005 – 296 units, 125 dom. 146,402 avg. sale, 135,000 median sale – 43,334,865 volume

2006 – 274 units, 115 dom. 191,602 avg. sale, 176,000 median sale – 52,498,831 volume

Mobile homes

2005 – 111 units, 121 dom. 75,783 avg. sale, 65,000 median sale – 8,411,901 volume

2006 – 95 units, 123 dom. 91,103 avg. sale, 85,000 median sale – 8,654,787 volume

Residential lots

2005 – 193 units, 377 dom. 60,585 avg. sale, 31,500 median sale – 11,692,932 volume

2006 – 76 units, 180 dom. 78,574 avg. sale, 60,000 median sale – 5,971,650 volume

Acreage

2005 – 160 units, 133 dom. 81,664 avg. sale – 13,066,262 volume

2006 – 110 units, 109 dom. 143,213 avg. sale – 15,753,474 volume