Eliminating real estate tax deduction would hurt middle-class

Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins"   239-357-1844  http://www.rickswift.listingbook.com/

Eliminating real estate tax deduction would hurt middle-class


WASHINGTON – Jan. 31, 2011 – According to a new study from the National Association of Home Builders (NAHB), a proposal to eliminate tax deductions for mortgage interest and real estate taxes would raise taxes disproportionately for middle-class households and make the income-tax system less progressive.
The study found that primarily middle-class taxpayers, with incomes between $50,000 and $200,000, benefit from the real-estate-related deductions; and larger households and families, such as those with children, earn the greatest benefits.
“Proposals to reduce or eliminate the mortgage interest deduction are short-sighted and would harm the economy and job creation at a time when housing is poised for recovery,” says NAHB Chairman Bob Nielsen. “The deduction is the mainstay of our housing policies and tampering with it would break faith with the millions of families who rely upon it to meet their household expenses – and with millions more who one day would like to be able to afford to own a home of their own.”
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=253639&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

UF survey: Florida’s real estate outlook perks up in several areas

Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins"   239-357-1844  http://www.rickswift.listingbook.com/

UF survey: Florida’s real estate outlook perks up in several areas

GAINESVILLE, Fla. – Feb. 2, 2011 – Optimism has increased slowly but steadily in Florida real estate markets through the fourth quarter of 2010, a new University of Florida survey finds.
The fourth quarter Survey of Emerging Market Conditions found improvement in several key categories, including the outlook for sales in new single-family homes and condominiums, office occupancy, retail occupancy, land investment and capital availability.
Much of the optimism derives from politics with the defeat last fall of Amendment 4, a proposed constitutional amendment that would have required a referendum for all changes to local government comprehensive land-use plans, said Timothy Becker, director of UF’s Bergstrom Center for Real Estate Studies. The conclusion of mid-term elections also eased respondents’ uncertainty as it provided a clearer picture of the future.
“The state welcomed a new governor who has promised to make Florida a more business-friendly state,” Becker said. “If he can succeed on his goals, respondents believe it will have a positive impact on the real estate market. Any help in attracting new business to move or form in the state will no doubt have a positive impact on job growth.”
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=253862&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

Industrial market: Clear signs of recovery

Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins"   239-357-1844  http://www.rickswift.listingbook.com/

Industrial market: Clear signs of recovery


SEATTLE – Feb. 11, 2011 – Coinciding with a noticeably improved United States office market, the national industrial property sector absorbed 28.6 million square feet of space during the fourth quarter of 2010, propelling what had been a net loss for the year into a solid gain, according to quarterly research on the U.S. industrial market from Colliers International Q4 2010 North America Industrial Highlights. According to Colliers, the growth likely heralds the beginning of the next up cycle for the industrial sector as demand for warehouse space – fueled by an increase in import and export activity and an improving consumer appetite for goods – is expected to rise.
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=254691&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

WASHINGTON – Feb. 15, 2011 – President Obama’s budget proposes a lower mortgage interest deduction (MID) for high-income families,

Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins"  239-357-1844  http://www.rickswift.listingbook.com/

Battle over the mortgage interest deduction


WASHINGTON – Feb. 15, 2011 – President Obama’s budget proposes a lower mortgage interest deduction (MID) for high-income families, but the National Association of Realtors® (NAR) plans to fight any change, and a number of lawmakers who view it as a way to raise taxes also plan to oppose the increase.
According to testimony presented by the National Low Income Housing Coalition to a bipartisan deficit reduction commission, only about one-third of taxpayers itemize deductions. The commission later recommended that the deduction be changed to a 12 percent tax credit, with only interest on a debt up to $500,000 eligible.
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=254748&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

Floridians still confident about economy for second month

Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins"   239-357-1844   http://www.rickswift.listingbook.com/


Floridians still confident about economy for second month


GAINESVILLE, Fla. – Feb. 23, 2011 – Consumer confidence among Floridians remained at 77 out of 100 in February, suggesting a sustainable and improved view of the economy, according to a new University of Florida (UF) survey.
The index rose seven points last month, an unexpected increase according to Chris McCarty, director of UF’s Survey Research Center in the Bureau of Economic and Business Research, considering the economic climate in Florida. However, he considers it noteworthy that the index didn’t change dramatically this month.
“We had expected a correction to last month’s seven-point increase in consumer confidence,” says McCarty. “A second month at this high level makes it much less likely that the increase for January was an aberration and more likely that consumers view the economy and their personal economic situation as having improved.
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=255136&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

Housing less affordable for many Americans

Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins"  239-357-1844  http://www.rickswift.listingbook.com/


Housing less affordable for many Americans


WASHINGTON – Feb. 28, 2011 – Although home values have fallen over the past few years, housing affordability has significantly decreased for working owners and renters, according to an annual report released by the Center for Housing Policy, the research affiliate of the National Housing Conference.
The report, titled “Housing Landscape 2011,” provides an in-depth look at housing affordability trends for working households between 2008 and 2009 focusing on the effects of employment, income and housing costs.
According to the report, nearly one in four working households had a severe housing cost burden in 2009, spending more than half of its income on housing costs. Nationwide, some 10.5 million working households experienced a severe housing cost burden in 2009 – an increase of nearly 600,000 households from the prior year. This increase occurred despite a drop of 1.1 million in the overall number of working households.
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=255410&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

Realtors oppose high downpayment requirement

Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins" http://www.rickswift.listingbook.com/   239-357-1844

Realtors oppose high downpayment requirement
WASHINGTON – March 30, 2011 – High downpayment requirements being proposed by federal regulatory agencies will unnecessarily burden homebuyers and significantly impede the economic and housing recovery, according to the National Association of Realtors®. Rule changes are mandated under the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Six agencies – the Department of Housing and Urban Development, Federal Deposit Insurance Corp., Federal Housing Finance Agency, Federal Reserve, Office of the Comptroller of the Currency, and the U.S. Securities and Exchange Commission – are developing risk retention regulations that requires lenders to retain 5 percent of a mortgage’s credit risk unless the mortgage is a qualified residential mortgage (QRM) –(FHA and VA mortgages would also be exempted.) Currently, the definition of a QRM is being debated.
“As the leading advocate for homeownership, NAR supports a reasonable and affordable (downpayment) coupled with quality credit standards, strong documentation and sound underwriting,” said NAR President Ron Phipps. “A narrow definition of QRM, with an unnecessarily high downpayment requirement, will increase the cost and reduce the availability of mortgage credit, significantly delaying a housing recovery.”

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=257422&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

Pending home sales continue uptrend

Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins" http://www.rickswift.com/  239-357-1844
Pending home sales continue uptrend


WASHINGTON – Jan. 27, 2011 – Pending home sales improved further in December, marking the fifth gain in the past six months, according to the National Association of Realtors® (NAR).

The Pending Home Sales Index (PHSI), a forward-looking indicator, increased 2 percent to 93.7 based on contracts signed in December from a downwardly revised 91.9 in November. The index is 4.2 percent below the 97.8 mark in December 2009. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=253537&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29


“Modest gains in the labor market and the improving economy are creating a more favorable backdrop for buyers, allowing them to take advantage of excellent housing affordability conditions,” says Lawrence Yun, NAR chief economist. “Mortgage rates should rise only modestly in the months ahead, so we’ll continue to see a favorable environment for buyers with good credit.

A home buyer or builder can obtain financing (a loan) either to purchase or secure against the property from a financial institution, such as a bank, either directly or indirectly through intermediaries. Features of mortgage loans such as the size of the loan, maturity of the loan, interest rate, method of paying off the loan, and other characteristics can vary considerably.
In many jurisdictions, though not all (Bali, Indonesia being one exception, it is normal for home purchases to be funded by a mortgage loan. Few individuals have enough savings or liquid funds to enable them to purchase property outright. In countries where the demand for home ownership is highest, strong domestic markets have developed.
The origin of the word mortgage is from the Latin word mori (via old french mort) for death and -gage is from the sense of that word meaning a pledge to forfeit something of value if a debt is not repaid

http://en.wikipedia.org/wiki/Mortgage_loan

FlORIDA. economist: ‘We’re in recovery’

Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins" http://www.rickswift.com/  239-357-1844



Fla. economist: ‘We’re in recovery’


MANATEE COUNTY, Fla. – Jan. 21, 2011 – Economist Hank Fishkind told about 400 Manatee County leaders that Florida’s recovery is in its early stages even if it doesn’t seem like it to some people.
Calling it the “worst recession, probably, since the Great Depression, and at least the worst since 1975,” Fishkind said, “This is the recovery – right now,” Fishkind said. “The momentum is growing.”
Fishkind spoke at an “Economic Forecast Breakfast” sponsored by Whitney Bank and the Manatee Economic Development Council. As evidence of the ongoing recovery, Fishkind pointed to recent improvements, including:
• Job growth in the tourism and convention industries

• Job growth in education

• Strong retails sales at the close of 2010

• Consumer belief that it’s safe to spend money

• $500 billion boost from a 2 percent cut in payroll taxes
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=253240&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

Floridians grow suddenly optimistic about economy

Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins"
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GAINESVILLE, Fla. – Jan. 25, 2011 – Consumer confidence among Floridians soared an unexpected seven points to 77 in January from the revised December index score of 70, according to a new University of Florida survey.
The increase is the largest since the index rose seven points from March to April 2010, and the score of 77 is the highest since the April 2010 mark of 78.
“The size of this increase in confidence among Floridians was not expected,” said Chris McCarty, director of UF’s Survey Research Center in the Bureau of Economic and Business Research. “Confidence among Floridians had been mired in the low 70s for the past few months, consistent with other economic indicators that characterize the Florida economy.”
Each of the five components that make up the index registered gains, with the largest increase coming in the perceptions of U.S. economic conditions over the next year category, which climbed 12 points to 78. Confidence in that category had been mired in the 60s for eight months.
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=253428&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

2011 prediction: Slow real estate recovery

Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins" http://www.rickswift.com/  239-357-1844

2011 prediction: Slow real estate recovery


WASHINGTON – Jan. 3, 2011 – Pending home sales rose again in November, according to the National Association of Realtors®, which says a gradual improvement has been the trend for past five months, indicating a gradual recovery into 2011.
The Pending Home Sales Index (PHSI), a forward-looking indicator, rose 3.5 percent to 92.2 based on contracts signed in November from a downwardly revised 89.1 in October. The index is 5.0 percent below a reading of 97.0 in November 2009. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.
Lawrence Yun, NAR chief economist, said historically high housing affordability is boosting sales activity. “In addition to exceptional affordability conditions, steady improvements in the economy are helping bring buyers into the market,” he said. “But further gains are needed to reach normal levels of sales activity.”

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=251948&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

Consumers don’t comparison shop mortgages

 

Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins" http://www.rickswift.com/  239-357-1844

Consumers don’t comparison shop mortgages


CHARLOTTE, N.C. – Dec. 17, 2010 – Consumers today are expert comparison shoppers, always on the hunt for the best deal, but when it comes to their mortgage, borrowers often lock in their first home loan offer.
According to a new LendingTree survey of 1,317 homeowners conducted online by Harris Interactive in September, 96 percent of American consumers compare prices when shopping for anything, but nearly 40 percent obtain just one home loan quote. By comparison, when shopping for a home computer, consumers research an average of 3.1 models before making a purchase. As a result, only 28 percent of borrowers are very confident they received the best possible deal on their current mortgage.
read more
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Americans still want to own a home

Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins" http://www.rickswift.com/  239-357-1844

Americans still want to own a home


WASHINGTON – Dec. 10, 2010 – A new study released by Fannie Mae finds that most Americans – both those who currently own their homes and those who rent – strongly aspire to own a home and to maintain homeownership, despite ongoing turmoil in the housing market. However, demographic trends, such as fewer married couples and less families with children resulting in shrinking households – combined with financial caution among consumers –contribute to an increased willingness to rent.
The Fannie Mae 2010 Own-Rent Analysis is based on extensive primary research with homeowners and renters, including focus groups and a quantitative survey. It incorporates U.S. Census Bureau data, micro- and macro-economic parameters, and explores the factors influencing consumers’ decisions to buy or rent a home. The latest release highlights two of four major themes of the analysis in reports titled, Persistence of the Homeownership Aspiration and Housing Choices Throughout the Lifecycle and the Impact of Changing Demographics.
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=251407&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

Why do Americans want a smaller home in the suburbs

Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins" http://www.rickswift.com/  239-357-1844 CALL ME FOR THE HOUSE YOU WANT

More Americans want a smaller home in the suburbs


NEW YORK – Dec. 6, 2010 – McMansions are rapidly becoming the housing equivalent of harvest gold appliances as more Americans opt for smaller residential footprints, according to a consumer lifestyle survey.
In the Relocation.com lifestyle survey, homeowners and buyers were asked to weigh in on what they considered the ideal home size. Forty-eight percent of the respondents indicated that their ideal home size would range from 1,000 to 1,999 square feet, while 29 percent prefer homes that are 2,000 to 2,999 square feet. By comparison, five years ago, according to NAHB (National Association of Homebuilders) the average home’s square footage was 2,400 square feet, nearly 400 square feet bigger than what many homebuyers desire today.

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=251085&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

Homeowners insurance: four tips to keeping costs down

Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins" http://www.rickswift.com/  239-357-1844

ST. LOUIS – Dec. 2, 2010 – In today’s economic climate, people want to save money wherever they can. Here are four ways to reduce homeowners insurance rates compiled by HomeownersInsurance.net.

1. Shop around. Some insurance companies have raised house insurance costs to recoup losses from the financial crisis. Others are competing for new customers by offering lower rates. By shopping around, people can find better deals on homeowners insurance.
2. Re-evaluate coverage amounts. Many policies have inflation protection provisions, which automatically increase coverage amounts. This was a good item in the years leading up to the crash, but today they should be looked at more closely.
3. Check personal credit reports. Homeowners insurance companies check credit history before figuring rates, similar to how lenders do. This is done to help them assess the risk of payment and likely individual responsibility.
4. Avoid small claims that can become expensive. Homeowners should have the highest deductible they can comfortably afford and repair minor items out of pocket rather than filing a claim. Filing a claim for every broken window or leaky pipe can increase premiums by 10-15 percent.



Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins" http://www.rickswift.com/  239-357-1844

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Consumer Confidence increases again

Cape Coral Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins" http://www.rickswift.com/  239-357-1844

Consumer Confidence increases again


NEW YORK – Nov. 30, 2010 – The Conference Board Consumer Confidence Index, which had improved in October, increased even more in November. The Index now stands at 54.1, up from 49.9 in October. The Present Situation Index that measures current attitudes about the economy rose to 24.0 from 23.5. The Expectations Index that measures attitudes about the future increased to 74.2 from 67.5 last month.

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=250810&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

New fed initiatives to help foreclosures

Cape Coral Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins" http://www.rickswift.com/  239-357-1844

New fed initiatives to help foreclosures


WASHINGTON – Nov. 22, 2010 – The Department of Justice’s Access to Justice Initiative and Vice President Joe Biden announced a series of steps on Friday that the government will take to help middle class and low-income families secure their legal rights in a foreclosure. Those steps includes strengthening of foreclosure mediation programs, helping veterans secure the legal help they need, and making it easier for workers to find a qualified attorney when they believe their rights have been violated.
The announcement is the culmination of work between the Department of Justice’s (DOJ) Access to Justice Initiative and federal agencies like the Department of Labor (DOL), the Department of Housing and Urban Development (HUD), and the Department of Veterans Affairs (VA), and others.

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=250564&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

Fannie Mae: Hopeful signs emerge in consumer spending and employment

Cape Coral Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins" http://www.rickswift.com/  239-357-1844

Fannie Mae: Hopeful signs emerge in consumer spending and employment


WASHINGTON – Nov. 19, 2010 – Improving financial conditions and recent encouraging signs from the labor market should set the stage for an above-par growth trend by mid 2011, according to the November 2010 Economic Outlook released by Fannie Mae’s Economics & Mortgage Market Analysis Group.
Despite challenges, including uncertainty on the domestic fiscal policy and international fronts, the report foresees gradual improvement in economic activity moving into 2011. In 2010, the economy showed a slight pickup in growth in the third quarter and consumer spending posted the best showing since the end of 2006.
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=250499&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

NEED HELP ? WHAT IS A SHORT SALE ? OWE TOO MUCH ON YOUR HOME? WHERE DO YOU TURN? WILL THE BANK SETTLE FOR LESS WHEN I SELL?

Cape Coral Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins" http://www.rickswift.com/  239-357-1844
NEED HELP? OWE TOO MUCH ON YOUR HOME? WHERE DO YOU TURN? WILL THE BANK SETTLE FOR LESS WHEN I SELL? ,
Turn to your local realtor for help. They will guide you where to turn for the help you need. Do you need to sell your house? but you owe more than it is worth at the present time? Trust me your not alone. So many calls that i receive are just that. First you have to decide that selling is your best option, then decide on the right realtor, then price, stage, your house for sale. The realtor says the house is worth 150,000. you owe 200,000 will the bank let you short sale the house for the 150,000 to the next person? Ask your realtor for advise and help, but they should not give any legal advise to you. that is for a real estate attorney only. Many attorneys and title companies can be very helpful in a short sale transaction, from start to finishing the paperwork closing. BE PREPARED AND HAVE A PLAN

A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan. It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the borrower. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and poorer credit report outcomes for the borrowers. This agreement, however, does not necessarily release the borrower from the obligation to pay the remaining balance of the loan, known as the deficiency.
SEE MORE INFO

http://en.wikipedia.org/wiki/Short_sale_%28real_estate%29

The United States’ investment sales market has the potential for increased fluidity in the year ahead, based on findings from Colliers International’s Q3 2010 Global Investor Sentiment Survey.

Cape Coral Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins" http://www.rickswift.com/  239-357-1844

Global investors poised for activity


SEATTLE – Nov. 9, 2010 – The United States’ investment sales market has the potential for increased fluidity in the year ahead, based on findings from Colliers International’s Q3 2010 Global Investor Sentiment Survey.
More than six out of 10 U.S. real estate investors responding to the survey indicated that they are considering selling property over the next year, up considerably from the 23 percent reported in the Q1 response. Meanwhile, 85 percent of U.S. investors expressed a desire to buy assets domestically during that time, with a focus on primary markets nationwide. The combined forces may position a significantly increased number of U.S. assets to trade over the next 12 months.
In particular, U.S. investors noted markets in California, Texas, New York/New Jersey and Florida, as well as Washington, D.C., Boston, Atlanta, Chicago, Denver and Seattle as key targets.
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=250014&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29