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Tamarac, FL

OK Now I'm Upset!

Jeannette Neerpat, e-Pro Coral Springs/Parkland Real Estate: Real Estate Agent in Coral Springs, FL

Last week I spent my days with several buyers. Out of the three I was with two put in offers. Both homes had been on the market for awhile with no offers.

Both placed offers and when I was sending them I asked if there were any submitted already. Both said no, perfect. Now both were sent.

I called on one and he tells me that another offer came through and they went with the other offer before my buyers even had a chance to counter. Great, back to the drawing board with them.

Second home follow up call, was put in yesterday. He tells me he has my offer but believes that there are two more waiting at the office, he has not submitted ours yet. He was to go in this morning to check. I called just now and he tells me that yes one other offer was submitted and that the house has another showing later today with another possible offer.

Wait, you haven't submitted my offer yet? No, because I am waiting on todays showing to see what happens and I will meet with the sellers tonight. So you are telling me that you are not going to submit our offer because of the chance that another is coming in? Yup, that's the plan. Its like he is waiting for a bidding war.

See I don't think its right for agents to do this. Aren't we suppose submit offers irregardless whether or not we have other showings happening? We had a solid offer, great VA loan and can close is less than 30 days. How much better can you get?

It seems that we are back in 2004 where muliple offers are here and waiting.

Jeannette Neerpat
9000 Sheridan Street
Pembroke Pines, Fl 33024
www.Neerpat.com

Would you like a Free Market Analysis? Visit www.Neerpat.com or call 954-993-4104.

Should I buy or Rent?

Jeannette Neerpat, e-Pro Coral Springs/Parkland Real Estate: Real Estate Agent in Coral Springs, FL

Why should I buy, instead of rent?

  • Answer: A home is an investment. When you rent, you write your monthly check and that money is gone forever. But when you own your home, you can deduct the cost of your mortgage loan interest from your federal income taxes, and usually from your state taxes. This will save you a lot each year, because the interest you pay will make up most of your monthly payment for most of the years of your mortgage. You can also deduct the property taxes you pay as a homeowner. In addition, the value of your home may go up over the years. Finally, you'll enjoy having something that's all yours - a home where your own personal style will tell the world who you are.

Should I use a real estate broker? How do I find one? Answer: Using a real estate broker is a very good idea. All the details involved in home buying, particularly the financial ones, can be mind-boggling. A good real estate professional can guide you through the entire process and make the experience much easier. A real estate broker will be well-acquainted with all the important things you'll want to know about a neighborhood you may be considering...the quality of schools, the number of children in the area, the safety of the neighborhood, traffic volume, and more. He or she will help you figure the price range you can afford and search the classified ads and multiple listing services for homes you'll want to see. With immediate access to homes as soon as they're put on the market, the broker can save you hours of wasted driving-around time. When it's time to make an offer on a home, the broker can point out ways to structure your deal to save you money. He or she will explain the advantages and disadvantages of different types of mortgages, guide you through the paperwork, and be there to hold your hand and answer last-minute questions when you sign the final papers at closing. And you don't have to pay the broker anything! The payment comes from the home seller - not from the buyer.

By the way, if you want to buy a HUD home, you will be required to use a real estate broker to submit your bid.

Jeannette Neerpat
9000 Sheridan Street
Pembroke Pines, Fl 33024
www.Neerpat.com

Would you like a Free Market Analysis? Visit www.Neerpat.com or call 954-993-4104.

Some Tax Credits for Homeowners

Jeannette Neerpat, e-Pro Coral Springs/Parkland Real Estate: Real Estate Agent in Coral Springs, FL

Did you know there are special tax credits for home improvements? A new High Enegry A/C and a list of many others? Well I am just learning this myself and thought to myself, why hasn't anyone shared this with me. Now I know what you are going to say. Tax day is tommorrow, well you can either amend the return or file it on next years return. Either way you get it back!

Good luck!!

SUMMARY OF TAX CREDITS FOR HOMEOWNERS

Product Category Product Type Tax Credit Specification Tax Credit Notes
Windows & Doors Exterior Windows and Skylights U factor <= 0.30

SHGC <= 0.30
30% of cost, up to $1,5002

Not all ENERGY STAR labeled windows and skylights qualify for tax credit.

More information

Storm Windows Meets IECC1 in combination with the exterior window over which it is installed, for the applicable climate zone 30% of cost, up to $1,5002

Manufacturer Certification Statement3 will list classes of exterior window (single pane, clear glass, double pane, low-E coating, etc.)4 that a product may be combined with to be eligible in specific climate zones.

Exterior Doors U factor <= 0.30

SHGC <= 0.30
30% of cost, up to $1,5002

Not all ENERGY STAR doors will qualify.

More information

Storm Doors In combination with a wood door assigned a default U-factor by the IECC1, and does not exceed the default U-factor requirement assigned to such combination by the IECC 30% of cost, up to $1,5002
Roofing Metal Roofs,
Asphalt Roofs
ENERGY STAR qualified 30% of cost, up to $1,5002

All ENERGY STAR metal and asphalt roofs qualify for the tax credit.

Must be expected to last 5 years OR have a 2 year warranty.

Insulation Insulation Meets 2009 IECC & Amendments 30% of cost, up to $1,5002

For insulation to qualify, its primary purpose must be to insulate (example: insulated siding does not qualify).

Must be expected to last 5 years OR have a 2 year warranty

HVAC Central A/C Split Systems:
EER >=13
SEER >= 16

Package systems:
EER >= 12
SEER >= 14
30% of cost, up to $1,5002

For a list of qualified products, go to the Consortium for Energy Efficiency product directory Exit ENERGY STAR, click on Air Conditioners, then in the “CEE Tier” enter “Residential Advanced Tier 3” for CAC Split Systems, and "Residential Tier 2" for CAC Package Systems and ASHPs.

Note — not all ENERGY STAR products will qualify for the tax credit. View ENERGY STAR criteria.

Air Source Heat Pumps Split Systems:
HSPF >= 8.5
EER >= 12.5
SEER >= 15

Package systems:
HSPF >= 8
EER >= 12
SEER >= 14
30% of cost, up to $1,5002
Natural Gas or Propane Furnace

AFUE >= 95

30% of cost, up to $1,5002

For a list of qualifying products go to the Gas Appliance Manufacturing Association Exit ENERGY STAR

Not all ENERGY STAR products will qualify for the tax credit. View ENERGY STAR criteria for furnaces, boilers.

Oil Furnace

AFUE >= 90

30% of cost, up to $1,5002
Gas, Propane, or Oil Hot Water Boiler

AFUE >= 90

30% of cost, up to $1,5002
Advanced Main Air Circulating Fan No more than 2% of furnace total energy use. Read this FAQ if the fan qualifies, but the furnace does not. 30% of cost, up to $1,5002
Water Heaters Gas, Oil, Propane Water Heater Energy Factor >= 0.82
or a thermal efficiency of at least 90%.
30% of cost, up to $1,5002

All ENERGY STAR gas tankless water heaters will qualify.

There are currently no ENERGY STAR qualified gas storage tank or gas condensing water heaters that qualify.

View ENERGY STAR criteria for water heaters.

For a partial list of qualifying products go to the Air Conditioning, Heating, and refrigeration Institute (AHRI) Exit ENERGY STAR

Electric Heat Pump Water Heater Same criteria as ENERGY STAR: Energy Factor >= 2.0 30% of cost, up to $1,5002

All ENERGY STAR electric heat pump water heaters qualify for the tax credit.

Biomass Stove Biomass Stove

Stove which burns biomass fuel5 to heat a home or heat water.

Thermal efficiency rating of at least 75% as measured using a lower heating value.

30% of cost, up to $1,5002
Geo-Thermal Heat Pump Geo-Thermal Heat Pump

Same criteria as ENERGY STAR:

Closed Loop:
EER >= 14.1
COP >= 3.3

Open Loop:
EER >= 16.2
COP >= 3.6

Direct Expansion:
EER >= 15
COP >= 3.5

30% of the cost

All ENERGY STAR geo-thermal heat pumps qualify for the tax credit.

Use IRS Form 5695 PDF Exit ENERGY STAR

Must be “placed into service” before December 31, 2016.

Solar Energy Systems Solar Water Heating

At least half of the energy generated by the “qualifying property” must come from the sun. Homeowners may only claim spending on the solar water heating system property, not the entire water heating system of the household.

The credit is not available for expenses for swimming pools or hot tubs.

The water must be used in the dwelling.

The system must be certified by the Solar Rating and Certification Corporation (SRCC).

30% of cost

All ENERGY STAR solar water heaters qualify for the tax credit.

Use IRS Form 5695 PDF Exit ENERGY STAR

Must be placed in service before December 31, 2016.

Photovoltaic Systems Photovoltaic systems must provide electricity for the residence, and must meet applicable fire and electrical code requirement. 30% of cost

Use IRS Form 5695 PDF Exit ENERGY STAR

Must be placed in service before December 31, 2016.

Small Wind Energy Systems Residential Small Wind Energy Systems 30% of cost

Use IRS Form 5695 PDF Exit ENERGY STAR

Must be placed in service before December 31, 2016.

Fuel Cells Residential Fuel Cell and microturbine system

Efficiency of at least 30% and must have a capacity of at least 0.5 kW.

30% of the cost, up to $500 per .5 kW of power capacity

Use IRS Form 5695 PDF Exit ENERGY STAR

Must be placed in service before December 31, 2016.

Cars Hybrid gasoline-electric, diesel, battery-electric, alternative fuel, and fuel cell vehicles Based on a formula determined by vehicle weight, technology, and fuel economy compared to base year models

There is a 60,000 vehicle limit per manufacturer before a phase-out period begins. Toyota and Honda have already been phased out. Credit is still available for Ford, GM and Nissan.

For more information visit: Fueleconomy.gov Exit ENERGY STAR

Use IRS Form 8910 PDF Exit ENERGY STAR for hybrid vehicles purchased for personal use.

Use IRS Form 3800 PDF Exit ENERGY STAR for hybrid vehicles purchased for business purposes.

Plug-in hybrid electric vehicles $2,500–$7,500

The first 250,000 vehicles sold get the full tax credit (then it phases out like the hybrid vehicle tax credits).

Effective January 1, 2009.

Jeannette Neerpat
9000 Sheridan Street
Pembroke Pines, Fl 33024
www.Neerpat.com

Would you like a Free Market Analysis? Visit www.Neerpat.com or call 954-993-4104.

Happy Easter Everyone!

Jeannette Neerpat, e-Pro Coral Springs/Parkland Real Estate: Real Estate Agent in Coral Springs, FL

Well Its Spring and what a beautiful morning so far! I want to wish everyone a very Happy Easter.

Happy EasterThis is what Easter is really about. My 4 year old was talking to me about this. I had told my daughter on friday that it was Good Friday, she looked at me puzzled. I told her that was the day Jesus died and on Easter is when he Resurrected. She was still puzzled. Anthony turned around and said that's the day he woke back up!

Yeah that is putting it simple, but he had it right on the nose!!

Happy Easter

But this is what the kids know Easter as. The bunny comes here too.

Happy Easter Everyone!

Jeannette Neerpat
9000 Sheridan Street
Pembroke Pines, Fl 33024
www.Neerpat.com

Would you like a Free Market Analysis? Visit www.Neerpat.com or call 954-993-4104.

You know the saying "You snooze you lose?"

Jeannette Neerpat, e-Pro Coral Springs/Parkland Real Estate: Real Estate Agent in Coral Springs, FL

OK I have heard this saying time and time again. Never really took it for face value. I have been out showing properties this week in Broward County. I sent multiple listings to all of my clients. And they of course sent me what they wanted to look at.

While setting up appointments I asked if they had any offers as of yet and at the time they told me no. It had only been two days since I had made those calls. When I called to check status on two homes my clients were really interested in I was told they had already received multiple offers. Are you kidding me?

Nope that was what I was told. Jeez I thought, and I told my clients they couldn't believe it. I told them that this has been happeing more and more. Of course now I have to send them more listings, but now they know not to sit and wait a few days.

Another client I was with today fell in love with a house and wrote up an offer there, while driving home I called the agent to let him know I was sending an offer and he told me that one was to come in this morning and hasn't yet. I told him it will be on your fax within 10 minutes!

It feels to me like it was 4 years ago when properties were going like hot cakes. Its more in the price of around $325 and under.

If you are looking for a home and have been back and forth with the thought, don't wait to long, because if you snooze, you lose!

Jeannette Neerpat
9000 Sheridan Street
Pembroke Pines, Fl 33024
www.Neerpat.com

Would you like a Free Market Analysis? Visit www.Neerpat.com or call 954-993-4104.