WELCOME TO APOLLO BEACH Happy New Year!

As a testament to the fantastic waterfront coastal living at Bella Sol Luxury Villas, Despite global market conditions, savvy customers have voted with their hard $$ Dollars in 2009 making this Realtor top 10 in the region out of 4,000 agents from Tampa, Orlando to the Georgia State line Thank you!

As the first 30 days of the new decade have come to close sales at lovely Bella Sol Luxury Villas continue with 2 going to contract. If there is Ever an indication right now is the time! I only have 5 Waterfront units left states Bonnie Fagoh. The developer is taking bids to complete the 2 off water units.

For those who don’t feel BellaSol is a perfect fit, there are many other areas with desirable condos, townhomes and single family homes from which to choose in the Tampa Bay and surrounding areas. One of my clients wanted to be closer to the beach, so I helped them find a home just 10 minutes from the gulf for under $200k!

Buy BellaSol as your retirement home, vacation home, or just to enjoy maintenance free living! You will have more time to enjoy the water while someone else takes care of the lawn, pool, and all exterior maintenance!

For those needing to sell, please call me to go over your options. We have a system that works for those who need to do a short sale and we can offer a FREE consultation with a lawyer so you can find out what is best for you so you can make an informed decision.So to sum it up….great inventory, low prices, low interest rates, and fantastic weather make it the best time to BUY Florida Real Estate!!

Call Bonnie at (813) 390-7606 and schedule your complimentary boat tour of the Apollo Beach area. Come see why the dolphin and manatee love it here! Experience the waterfront lifestyle in this laid back community that is only a short 20 minute boat or car ride to the city of Tampa or 30 minutes to St Petersburg. Find out why the Tampa Sailing Squadron keeps their boats right here in Apollo Beach! We have a great central location with easy access to the Gulf of Mexico, Sarasota, Fantastic Pro-Golf, NFL Football, Even Pro Hockey and Baseball!! Yes you can have it all only 76 miles from Walt Disney World in Orlando and the Space Coast!

Buy BellaSol as your retirement home, vacation home, or just to enjoy maintenance free living! You will have more time to enjoy the water while someone else takes care of the lawn, pool, and all exterior maintenance!

Search all Tampa Bay properties at www.TampaCoastalHomes.com or better yet,
call me for a FREE boat tour! Bonnie (813) 390-7606

ZIP Code: 33572 Location Characteristics: Apollo Beach is a growing community centrally located between Tampa (20 min), Sarasota (30 min) and St Petersburg (20 min). There are 55 MILES of canals leading to Tampa Bay for those of you who enjoy water sports. Southshore Commons, a major “open air” mall is planned for 2011 with shopping, restaurants, movie theatre and office buildings.

Bonnie Fagoh
Tampa Coastal Homes

MBA proposes forbearance program

The Mortgage Bankers Association (MBA) says it has developed a concept for a new forbearance program that would allow qualified borrowers who had lost their jobs to remain in their homes while they seek new employment.  According to the proposed program, loan servicers would reduce the borrower’s mortgage payment to an affordable amount for up to nine months while the homeowner looked for employment.  “The vast majority of new distressed borrowers we are seeing involve the loss of income,” said John A. Courson, MBA’s President and CEO.  “This program is designed to buy those borrowers time to find a new job, after which they could hopefully qualify for a loan modification.” Loan servicers who participate in this program would reduce monthly payments to an affordable level based on household income, and borrowers would be initially evaluated for the forbearance program using a model that assumes the borrower will be reemployed within nine months of losing his or her job at 75 percent of the borrower’s previous salary.  The borrower would be reevaluated as to employment and income status every three months for a total forbearance of nine months.   Once reemployed, the borrower would be evaluated for a modification under the Obama Administration’s Home Affordable Modification Program (HAMP). “Recent statistics show that the average unemployed U.S. worker stays unemployed for between six and seven months,” added Courson.  “That is a long time for a borrower with a dramatic drop in income to stay current on their mortgage.  Further, borrowers with such a precipitous drop in income can’t qualify for most loan modification programs, so we are looking for ways to allow those borrowers to keep their homes while they look for another job.”

Tax credit lures nearly half of all first-time buyers

According to a survey conducted by Harris Interactive on behalf of Zillow.com, 18% of prospective first-time homebuyers said extending the credit from Dec. 1, 2009 to Nov. 30, 2010 would be the “primary influence” in their decision to purchase a home.  An additional 25% said it would be a “significant influence,” 27% said it would have “some influence,” and 31% said it would have “no influence.”  Zillow projects 1.86m homebuyers stand to take advantage of the program if it is extended, and if all potential buyers took the full tax credit, extending the program could cost $14.86bn.  Zillow.com chief economist Stan Humphries said of all homebuyers expected under the 12-month extension through 2010, only one in five homebuyers will enter the market specifically because of the extended tax credit.  In other words, 334,000 mortgages will open because of the tax credit extension.  “While 334,000 may seem like a small number relative to the total number of homebuyers who would claim the credit, their addition to the market next year could make the difference between a robust annual increase in home sales next year and a flat or negative change in home sales relative to this year,” Humphries said.

Fed raises discount rate

The Federal Reserve said yesterday it is raising the rate it charges banks that borrow from the central bank when they run short of funds by a quarter percentage point, or 25 basis points, to 0.75%. The central bank said in a statement it made the move in response to improving financial market conditions.  Don’t everyone panic here, because the move is largely symbolic – banks do little borrowing at the discount window and the discount rate has no effect on the more widely watched federal funds rate, which measures the rate banks charge each other for overnight loans. That rate is expected to remain between 0% and 0.25% for the foreseeable future, given the slack in the labor market and the still fragile state of the economy.  But raising the discount rate allows Federal Reserve chairman Ben Bernanke to take another small step toward normal monetary policy, after the past two last years of  financial firefight.  The Fed also shortened the term of some discount window loans and raised the minimum bid in the term auction facilities it uses to supply overnight funds to banks. The central bank said Thursday’s increase should “encourage depository institutions to rely on private funding markets for short-term credit and to use the Federal Reserve’s primary credit facility only as a backup source of funds” and added that it will “assess over time whether further increases in the spread are appropriate.”  It added: “The modifications are not expected to lead to tighter financial conditions for households and businesses and do not signal any change in the outlook for the economy or for monetary policy.”

Jobs bill passes

The Senate voted Monday to push forward a $15 billion jobs creation bill that would give businesses a tax break for hiring the unemployed. The 4-prong bill will:  Exempt employers from Social Security payroll taxes on new hires who were unemployed; Fund highway and transit programs through 2010; Extend a tax break for business that spend money on capital investments like equipment purchases; and Expand the use of the Build America Bonds program, which helps states and municipalities fund capital construction projects.  The final legislation is a scaled-down version of an $85 billion bipartisan draft bill that was crafted by Sens. Max Baucus, D-Mont., and Charles Grassley, R-Iowa.  However, the bill does not extend the deadline to apply for unemployment benefits and the COBRA health insurance subsidy. Some 1.2 million people will run out of benefits after Feb. 28 if the deadline is not extended. Lawmakers are looking to pass a separate, 15-day extension to give them time to enact a longer fix.  And unlike the House’s bill, the Senate measure does not provide additional assistance for states. Many governors, who are holding their annual meeting in Washington, want the Obama administration to send more federal dollars their way so they can cope with yawning budget gaps.  Labor leaders and left-leaning think tanks all say the Senate must do more to spur job creation – as if the Senate can fabricate jobs out of thin air somehow.

House prices up for the month, down for the year

S&P/Case-Shiller composite index of house prices in 20 metropolitan areas rose 1.6 percent in July from June — more than triple the estimate of a 0.5 percent rise found in a recent Reuters poll.  The monthly price increases helped the annual rates, with the yearly pace of declines in home prices slowing to a 12.8% drop in the 10-city index and 13.3% downturn in the 20-city index.  “These figures continue to support an indication of stabilization in national real estate values, but we do need to be cautious in coming months to assess whether the housing market will weather the expiration of the Federal First-Time Buyer’s Tax Credit in November, anticipated higher unemployment rates and a possible increase in foreclosures,” said David Blitzer, chairman of the index committee at S&P.  Despite the overall improvement, annual rates for all metro areas and the two composites remain in negative territory, with 14 of the 20 metro areas and both composites in double digits, S&P said.

Tax credit lures nearly half of all first-time buyers

According to a survey conducted by Harris Interactive on behalf of Zillow.com, 18% of prospective first-time homebuyers said extending the credit from Dec. 1, 2009 to Nov. 30, 2010 would be the “primary influence” in their decision to purchase a home.  An additional 25% said it would be a “significant influence,” 27% said it would have “some influence,” and 31% said it would have “no influence.”  Zillow projects 1.86m homebuyers stand to take advantage of the program if it is extended, and if all potential buyers took the full tax credit, extending the program could cost $14.86bn.  Zillow.com chief economist Stan Humphries said of all homebuyers expected under the 12-month extension through 2010, only one in five homebuyers will enter the market specifically because of the extended tax credit.  In other words, 334,000 mortgages will open because of the tax credit extension.  “While 334,000 may seem like a small number relative to the total number of homebuyers who would claim the credit, their addition to the market next year could make the difference between a robust annual increase in home sales next year and a flat or negative change in home sales relative to this year,” Humphries said.

Tampa Coastal
Tampa Coastal Homes

I am considering renting out my home which is my primary residence… I am NOT buying another home at the time.. I am going to rent a larger home for about a year. My question is can I still homestead my home .. untill I buy another home… when I do I then can only have one homesteaded in Florida or my county? Need to know any help would be appreciated ..ONLY answer if you know this no guessing or cute answers on this one PLEASE.

In order to qualify for the homestead exemption you must live in the home more than 6 months of the year. If you are not living in the home it does not qualify for the exemption.

I have a personal situation that makes me need to move, but the housing market is so slow now that I can’t get a reasonable price for my house. I would like to hold an essay contest, charge a $99 entry fee, and award the winner the house. I would need a minimum #of entries and also set a maximum #. I do not want this to even remotely look like a scam. I am just a regular person looking for a creative way to get a good price for my house in Florida. I’ve contacted a RE atty already, and he is looking into it, so please don’t suggest that. Does anyone know if this is possible without gettng into legal trouble? I would do anything within reason to ensure all legalities are taken care of. If you are a reputable lawyer and would like to help me do this for a fair share of the proceeds, let me know.

Link us is correct. Without being a non-profit you can not legally charge anyone an entry fee for a lottery. You can have the contest and award the house, you simply can not charge for it. Even contest at at fast food places have to allow anyone to participate w/o any fee or having to purchase anything. Anyone who saw this done more then likely saw a church doing this with a house that was donated to them.

The other issue you have regarding giving your hosue away is that you have to own it, free and clear. If there is a mortgage you can not give the house away w/o paying off the mortgage in the process.

BEACHWALK ISLES is a gated community consisting of three main lakes all fed by 30ft illuminated fountains.This imposing 3 bedroom 2 bathroom stylishly furnished home comes with its own private swimming pool. Unwind after a busy day at the beach around the pool enjoying the peaceful surroundings this magnificent home has to offer. The home comes fully equipped for your vacation, all linen and bedding is provided along with TV/DVD and premium cable TV, and for the workaholics High speed internet. Free calls throughout the United States and Canada are also included. Come experience Florida Living at its best.Ideally located just off San Carlos Blvd and Gladiolus Rd, close to supermarkets, restaurants and shopping. The Islands of Sanibel and Captiva and the Beaches of Fort Myers are located all within a 5 10 minute drive from your home. A paradise for boating, fishing, or just simply relaxing. Championship golf courses are minutes away. Fort Myers Intl airport is a 20 minute drive. Miami Intl and Tampa Intl are a 2 hour drive with Orlando Intl 3 hours away.

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Located in the popular Wellington Lakes community this home is available to rent for parties up to 8 people. The home has 4 bedrooms available, wide screen TV, beautiful lake views, an oversized screened sundeck and large swimming pool. Wellington Lakes is just 2 minutes away from supermarkets and restaurants. The Gulf beaches of Sanibel Island & Fort Myers Beach are less than 15 minutes away.

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Sarasota, Florida is the best place for buying a home according to The Today Show! Great values for great prices on resort and vacation homes and condos. Residential Real Estate, golf communities and more.

For More Information:
Larry Brzostek, CRS, , CLHMS, Broker Associate
RE/MAX Alliance Group
www.LarrySellsSarasota.com
LarrySellsSarasota@gmail.com

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We are renters in Florida and we heard that our condo (leased through a private party) may be foreclosed. We don’t have a clause in our lease on this issue. I’ve heard rumors of renters just being kicked out because of foreclosure and I’ve had legal advice saying the bank has to let you fullfill your lease by law until the end.

Does anyone know the laws on this? We can’t break our lease without having the pay the rest of our months rent but I don’t want to get taken down with them.

Thanks

In almost every state, a foreclosure cancels a lease. The new owner must then go the eviction route to force you to more out.

What’s the case for Florida? The housing market is horrible and the jobs are going left and right. Only minimum wage hospitality is what seems to be it. Even teachers are losing jobs in a state in NEED of teachers. Someone even commented that they read that FL is no longer in recession, but in depression. How do I find out?

Yes, especially in a state that has a manufacturing class like automobiles … and the automobile industy tanks moves to Japan/India … leaving 1/50 states in a recession … while another who’s into oil may be having a boom.