Orlando, Fla. – May XX, 2010 – “To us, home is where we prop our feet up after a rough day” says Wendell Davis, Florida Realtors® president. “If ‘home’ to our service sons and daughters is a short phone call, then we, as Florida Realtors, should help them find ‘home,’ just as we help Florida buyers find a home.”

To honor our troops, Florida Realtors is donating money for phone calling cards that the USO will distribute to U.S. active duty troops. The USO has set up a dedicated webpage for credit card donations.

“When your son is in Iraq or Afghanistan, he’s physically 7,000 miles away, but the distance is much, much farther emotionally,” says Patti Fitzgerald, Florida Realtors president elect. “Comfort is a single phone call home. That’s it – a single phone call.”

“I was able to talk to my wife and family from Afghanistan, thanks to the phone cards donated by patriotic individuals, such as Realtors,” says LCpl Joseph Fitzgerald, U.S. Marine Corps and son of Patti Fitzgerald, Florida Realtors president elect.

Program details

• The USO will customize the calling cards with Florida Realtors® logo, so every soldier knows who paid for the call.
• The USO receives and tracks all donations. Checks sent to Florida Realtors headquarters will be forwarded to the USO.
• Everyone is encouraged to donate – not just Realtors.
• Deadline for donations: Aug. 15, 2010.

Florida Realtors has dedicated a website page for the initiative. It includes downloadable fliers with donation information about the program and how to donate by check; downloadable cards that can be handed out; and a link to the USO’s Florida Realtors credit card donation page: http://www.floridarealtors.org/supportourtroops.

Florida Realtors®, formerly known as the Florida Association of Realtors®, serves as the voice for real estate in Florida. It provides programs, services, continuing education, research and legislative representation to its 115,000 members in 67 boards/associations. Florida Realtors® Media Center website is available at http://media.floridarealtors.org.

Statewide sales of existing condominiums in the second quarter rose 45 percent compared to the same time the previous year. This marks the seventh consecutive quarter for increased statewide sales in both the existing home and condo markets compared to year-ago levels.

Statewide sales activity in 2Q 2010 also increased over 1Q 2010’s sales figure in both the existing home and existing condo markets, Florida Realtors’ records show. For 2Q 2010, statewide sales of existing homes rose 32.7 percent over the 1Q 2010 figure; statewide existing condo sales in 2Q 2010 increased 24.2 percent over the 1Q 2010 level.

Looking forward, the University of Florida’s Bergstrom Center for Real Estate Studies’ latest quarterly survey of real estate trends reported that job growth and the BP oil spill were cited as top concerns for the future outlook of the state’s real estate industry. The survey polls market research economists, industry executives, real estate scholars and other experts.

The center’s director, Timothy Becker, noted in the report that the oil spill has created “a cloud of uncertainty that is affecting all markets across the state. Our respondents indicate that the effect of the oil spill is being felt across Florida despite the fact that oil is only showing up on some beaches in the Panhandle.”

The survey reported the outlook for investment in industrial properties continues to brighten and is becoming increasingly positive.

Seventeen of Florida’s metropolitan statistical areas (MSAs) reported increased sales of existing homes in 2Q 2010 compared to the same three-month period a year earlier; 18 of the MSAs showed gains in condo sales.

The statewide existing-home median sales price was $141,300 in 2Q 2010; a year earlier, it was $143,000 for a decrease of 1 percent. The 2Q 2010 statewide existing-home median sales price was 5.6 percent higher than the statewide existing-home median sales price of $133,800 in 1Q 2010. According to industry analysts with the National Association of Realtors® (NAR), sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes. The median is a typical market price where half the homes sold for more, half for less.

In the year-to-year quarterly comparison for condo sales, 20,986 units sold statewide for the quarter compared to 14,430 in 2Q 2009 for a 45 percent increase. The statewide existing-condo median sales price was $98,900 for the three-month period; in 2Q 2009, it was $110,300 for a decrease of 10 percent. The 2Q 2010 statewide existing-condo median sales price was 3.2 percent higher than the 1Q 2010 statewide existing-condo median sales price of $95,800.

Low mortgage rates remain another favorable influence on the housing sector. According to Freddie Mac, the national commitment rate for a 30-year conventional fixed-rate mortgage averaged 4.91 percent in 2Q 2010; one year earlier, it averaged 5.03 percent.

© 2010 Florida Realtors®
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=244766

Write-offs are the government’s way of rewarding taxpayers when they’ve done something the government likes. And to judge by the write-offs, the government likes it when people borrow money to buy a house. There are write-offs aplenty, many of which people often forget.

Make sure you take advantage of every break the IRS will give. Here are a few tax breaks you might forget:

Points:
According to the IRS, origination fees charged as points must be paid for the use of money, (for example, to obtain a lower interest rate) in order to be tax deductible. Origination fees that constitute a “service fee” are not tax deductible. The question must be asked, “Does the fee apply to the use of money, or is it a service charge?”

Pre-payment penalties:
Unforeseen circumstances often cause borrowers to pull out of their mortgages sooner than expected. Fortunately, pre-payment penalties are tax deductible, which helps ease the pain.

Pro-rated real estate taxes:
Even if the seller sent the tax collector the check, chances are the buyer paid a pro-rated portion of the taxes for the year at closing. Be sure they know to deduct their fair share.

Pro-rated mortgage interest:
Depending on when in the month the home sale closes, buyers pay either a hefty or a tiny amount of pro-rated mortgage interest for that month. Big or small, they can write that off. The Final Closing/Settlement Statement will show just how much they’re due.

Home construction loan interest:
As long as the construction period doesn’t last more than two years before they make the new place their “principal residence,” they can write off the interest for that construction loan.

It pays to pay attention – all these write-offs can add up to some serious savings when tax time comes around.

Step back in time and notice the nature of the Intracoastal right out your back yard. This 2 bedroom with an open loft/office condo has been designer decorated and seller says furniture is negotiable. Open floor plan with your own boat slip (deeded and sold separately) right out side your back door. Be on the Intracoastal with in minutes, your protected boat slip has seawall, and sheltered from the main waterway. Come see why Intracoastal living is at its best!

Be on top of the world and enjoy watching the marine life of North Florida’s Intracoastal. With lush grounds that take you back in time, this penthouse view is a paradise waiting to be discovered. With over 3400 square feet of luxury living that include sub zero refrigerator, stainless appliances, and a warming drawer in the island that is a cooks delight. Upgrades that include surround sound throughout, built in closets, custom built office, upgraded wet bar, and expanded bar off the island makes entertaining a desire. Feel free to book your personal tour to view one of North Florida’s best kept secret’s. Palm Coast Resort. Hammock Beach club membership available at additional $20K transfer fee. Be one of the few to own a Penthouse at the Resort.

Welcome to the Portofino Located in the well renowned Private golf community of Hammock Dunes. If you are looking for luxury Condo with a great, location, and views, Look no further, once you open the door this condo welcomes you home with neutral colors and a beach style. This 8th floor condo has spectacular views of the Ocean from the main living room, kitchen and master bedroom. The community has a lot to offer everyone with 2 private golf courses, an upscale living clubhouse with resort like pool, fitness center, cabana bar and grill.

In this Portofino Condo you will have a private elevator foyer that will bring you into this spacious condo with 10′ ceilings, large great room over looking the Ocean, A chef’s dream Kitchen with granite countertops and custom cabinetry. 4 spacious rooms, feel free to use one overlooking the golf course for your office space. This is an end unit with breath taking views of the Atlantic Ocean from the East and Golf course views from the west.

In the Grand lobby you’ll find a craft’, Martini Bar, a library and the grand theater room. Full golf club membership is available but not included in price. Furniture is negotiable.
Don’t miss the chance to walk the beach every day and relax in grand style. Call today for your personal showing.

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