Sean Prescott

Tick Tock Buyers need to beat the clock $8,000 Tax Credit

As we approach the Fall, it is more important then ever for people, whom are considering buying their first home, the clock is ticking. The Federal Tax Credit of up to $8,000 is set to expire at the end of November. This of you who are considering purchasing a home need to make a decision soon as loans are taking 45 days to close. That means you need to have a home under contract by early October.

There have been rumors that they may extend the tax credit beyond the end of November, but there is no guarantee that they will. I would not take that chance.

Just a reminder, you must have not owned a home within the last 3 years; and the home must close before December 1st of this year to be eligible for the tax credit. The value of the credit is up to $8,000 or 10% of the purchase price.

For more information visit the Florida Association of Realtors Home Buyer Center for more information.

Oh by the way, I'm never to busy for any of your referrals. Whether buying or selling I have the local experience and expertise you need. I am your Home Grown Realtor.

Sean Prescott

RE/Max Crown Realty

Direct: 772-413-1320

I would like to begin by saying this is my very first Blog. With this blog I intend to give you a blow by blow account of the process of dealing with Chinese drywall. I feel I can speak to you about this as I have it n my personal home.

I bought my house in 2006 brand new. I noticed an odd smell, but was reassured that it was probably the glue from the carpet and other construction materials and it would dissipate. After a few month I no longer noticed the smell. We did, however have a few strange things happen. We had to replace our Microwave after about 6 months, the key pad no longer worked; it also seemed like we changed alot of lightbulbs.

On July 4, 2009 my A/C was not cooling. I waited until Monday to call. They determined that the evaporator coil was leaking and was covered with black soot. The repairman was trained to start looking for these signs of defective drywall while doing repairs.

I had the builder and the Drywall Sub-Contractor look at the house the next day. They both agreed that it seemed to meet the criteria set forth by the state of Florida for determing a home may contain defective drywall. I found a home inspector, expereinced with the product to verify the symptoms. The State of Florida says to look for these 5 factors in determining if a home contains defective drywall:

First, determine the date of construction

To meet the current case definition (03-30-09) homes constructed after 2003 (2004 to present) must meet two or more conditions; and those built prior to 2004 must meet three or more of the conditions specified below.

1. There is presence of sulfur-like or other unusual odors
2. Confirmed presence of Chinese manufactured drywall in the home (Presence pictures)
3. Observed copper corrosion, indicated by black, sooty coating of Un-insulated copper pipe leading to the air handling unit present in the garage or mechanical closet of home (Corrosion pictures)
4. Documented failure of air conditioner evaporator coil (located inside the air handling unit) (Coil pictures)
5. Confirmation by an outside expert or professional for the presence of premature copper corrosion on Un-insulated copper wires and/or air conditioner evaporator coils (inside the air handling unit) (Wiring pictures)

I will continue to relate my story over the next few weeks.

Thanks,

Sean Prescott

RE/MAX Crown Realty

772-413-1320