What kind of properties are these?
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 $500,000 for a married couple filing jointly can be...
Read MoreFirst Time Buyers look to 203k Loans
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 and air conditioning systems, additions and other...
Read MoreEfficient Palm Harbor FL Home
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 extra room in the garage that is heated and air...
Read MoreDown Payment Assistance
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 2017 are typical. In addition to home value...
Read MoreHow to prepare for hurricane season in Tampa
How to prepare for hurricane season in Tampa While there’s no denying that the Tampa Bay area has seen more than its fair share of dry weather this spring, hurricane season (and an increase in rainy days) is just around the corner. As a matter of fact, the National Oceanic and Atmospheric Administration (NOAA) is predicting an above average hurricane season, with 11 to 17 named storms, of which they’re predicting five to nine will be hurricanes. Two to four are expected to be “major” hurricanes. That means NOW is the time to get prepared for hurricane season, before a storm is headed our...
Read More8 Helpful tips for spring cleaning
8 Tips for Spring Cleaning Your Home “Spring” has officially arrived! And for us, in Florida, that means the return of 80-90 degree days! However, now is the time to tackle those spring cleaning activities that we want behind us before the school year is over and summer returns. And while the thought of spring cleaning may be enough to send you running for the hills, it doesn’t have to be daunting! Just take one task and one room at a time and your house will be spotless before you know it. Check out these 10 tips to help get you started! Clean the carpet: Dirt and germs can really...
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