About Port Orange's Waters Edge

The past week has seen some interesting gains in the financial markets, as well as some optimistic viewpoints. I am encouraged by the recent increase increases in my business and would love to paint a picture of prosperous times ahead. My crystal ball tells me that while we are making strides, we still have some mountains to climb. I think we can all agree that I best serve my readership by providing an optimistic, yet balanced approach when advising my customers. Perhaps the best approach is to savor the fact that things are improving, while we to continue doing the things that have brought about this improvement.

Depending on who you want to believe, national Foreclosure and Loan Modification Efforts are either ON TRACK , or MISLEADING . Perhaps they are both. One thing I am certain of is that a sustained negativity toward actions that have provide SOME results is counter-productive the BIG PICTURE goal of economic recovery. Rather, I would suggest that continued calls for accountability of such programs may provide for the eventual reaching of the stated goals of these programs.

I would suggest that OUR GLASS is approaching HALF FULL, and with initiatives pouring in, we are taking consistent steps on the way to a FULL GLASS. In related news, the final phase of the government effort to streamline the mortgage process through RESPA is scheduled for implementation on January 1, 2010.

First Time Home Buyers: Get Off The Fence! There are 19 shopping days left to find your new home and allow a safe amount of time to close the purchase by the November 30 deadline.

It has certainly been an interesting sequence of events surround the $8000 tax credit that is available for 1^st time Home Buyers that purchase before November 30,2009. Perhaps the best way to characterize the situation is to stop short of saying that there is misleading information, but rather say that there is a lack of complete information. The disconnect appear to lie in the fact that there are several initiatives, in various degrees of implementation, regarding the availability of the $8000 tax credit, as well as the use of such funds. The National Coalition of State Housing Agencies has information available their NCSHA Website for state specific updates.

As of this morning, here are a few facts for the state of Florida.

•· $8000 tax credit can be received from a qualified home purchase with an Amended 2008 Tax Return this year or in their 2009 tax return

•· The State of Florida has approved the use of the tax credit for closing costs* however the funding is not currently available

•· Lenders are not equipped to implement the use of the credit for closing costs at this time* release of info was premature

•· Use of the tax credit for down payment has not been approved at this time. Florida Association Of Realtors Web Page shows what you can do