Steven Schafer

I was wondering if the tough times will force unethical agents out of the business, or if they will go even farther to the dark side justified by their need for the dollar?

So, I called an agent and scheduled a rental showing at Harbour Oaks in Palm Beach Gardens Florida and explained to her that I was looking for a showing around 4:00pm because another agent was doing an open house until 5:00 and that I would show hers first and then the other agents becuase I schedule his at 5:00.....

Sometime after that the client was on Craigslist and called what they thought was a private owner. She then informed them that she was a realtor and that she could show them both properites....

Am I wrong? She had so much detail from me that there is no way should could have not known. She then called the other agent and scheduled a showing, and never called me back to confirm my showing.

And while she won the battle of the day, and while that community was never on my farm list, the post cards have now been ordered.

Early in my career someone said to me customers come and go but agents stay. Understand the importance of how you conduct yourself with other agents.

Are times so tough that we'll burn a realtor relationship for $ 600.00 ?

I've made a nice internet page for Harbour Oaks of Palm Beach Gardens. Please click the hyperlink to take a peek.

What do you think? Is all fair in love and real estate?

New Home Buyers have YET ANOTHER Great Reason to BUY now!!!!

It is an absolutely incredible time to buy a home here in the Boynton Beach, Delray Beach, Boca Raton and Lake Worth area! Prices have plummeted incredibly, interest rates are at a very reasonable historical level and smart buyers are having a field-day purchasing some incredible properties. Here is yet another reason for new home-buyers to get in while these opportunities abound:

First-Time Homebuyer Tax Credit
Up to $7,500 federal tax credit for first-time home buyers
By William Perez, About.com

There's a new, refundable tax credit of up to $7,500 for the purchase of a primary residence. The credit is available to first-time homebuyers. This tax credit has some novel features, so here are the details.

Amount of the Homebuyer Tax Credit

The tax credit is worth 10% of the purchase price of the home, with a maximum credit of $7,500. The credit is limited to $3,750 for married couples filing separate returns. The credit is also limited to the same $7,500 maximum for unmarried persons who purchase a residence together.

Qualifying as a First-Time Homebuyer

For the purpose of this tax credit, a first-time homebuyer is defined as someone who has not owned a primary residence in the three-year period ending on the date of purchasing the home.

Limited Time Period for Purchasing a Residence

The credit has a very limited life-span. Individuals will need to purchase a residence after April 9, 2008, and before July 1, 2009.

What's a Primary Residence

A primary residence is a residence in which an individual lives most of the time. A primary residence can be a house, condominium, co-operative apartment, houseboat, or mobile home.
Because the tax credit is for people who purchase their primary residence, individuals may qualify for the tax credit even if they own a vacation home or rental property as long as those properties were not their primary residence for at least three years preceding the purchase of their new home.

Income Phase-out Range

The credit is phased out for individuals with modified adjusted gross income between $75,000 and $95,000. For married couples filing a joint return, the phase out range is $150,000 to $170,000.

Modified AGI for the First-Time Homebuyer Credit

To determine if the tax credit is reduced or eliminated by the income phase-out range, individuals will need to determine their modified adjusted gross income.
For the purposes of determining income eligibility for this credit, adjusted gross income is modified by adding back the following excluded income:

foreign earned income;
income from Guam, American Samoa, or the Northern Mariana Islands;
income from Puerto Rico.
When to Claim the Credit

The credit is fully refundable, meaning taxpayers will be able to obtain an additional federal tax refund of up to $7,500 even if they have no other tax liabilities.

Taxpayers will be able to claim the credit on their 2008 tax return for homes purchased in 2008. For homes purchased in 2009, the IRS will allow the purchasers to file an amended 2008 return to claim the credit.

Repaying the First-Time Homebuyer Credit

The credit needs to be repaid in equal installments over 15 years. Unlike any other tax credit,
the first-time homebuyer credit must be repaid over 15 years. The credit will works like this: you'll get your refund when you file the tax return. Then the credit will be repaid as an additional tax on your tax return for the next fifteen years. For the maximum $7,500 credit, this works out to annual repayments of $500 per year. As CCH notes in their tax briefing, this tax credit amounts to an interest-free 15-year loan for first-time homebuyers.
The credit will also need to be repaid in full if the taxpayer sells the house within the fifteen-year repayment period. The credit also needs to be repaid in full if the property is no longer the taxpayer's primary residence. The credit will be disallowed if a taxpayer sells the house before the end of the same year in which the house was purchased.

Sources:

Section 3011 of the Housing and Economic Recovery Act of 2008
Summary of the tax provisions in H.R. 3221 from the Ways and Means Committee [pdf]
CCH Tax Briefing on the Housing Assistance Tax Act of 2008 [pdf]
More Tax Planning: U.S. Quick Tips

Press Release
FOR IMMEDIATE RELEASE

WASHINGTON D.C., November 20, 2008 -- Boca Executive Realty has been selected for the 2008 Best of Boca Raton Award in the Real Estate Agents category by the U.S. Local Business Association (USLBA).
The USLBA "Best of Local Business" Award Program recognizes outstanding local businesses throughout the country. Each year, the USLBA identifies companies that they believe have achieved exceptional marketing success in their local community and business category. These are local companies that enhance the positive image of small business through service to their customers and community.
Various sources of information were gathered and analyzed to choose the winners in each category. The 2008 USLBA Award Program focused on quality, not quantity. Winners are determined based on the information gathered both internally by the USLBA and data provided by third parties.
About U.S. Local Business Association (USLBA)
U.S. Local Business Association (USLBA) is a Washington D.C. based organization funded by local businesses operating in towns, large and small, across America. The purpose of USLBA is to promote local business through public relations, marketing and advertising.
The USLBA was established to recognize the best of local businesses in their community. Our organization works exclusively with local business owners, trade groups, professional associations, chambers of commerce and other business advertising and marketing groups. Our mission is to be an advocate for small and medium size businesses and business entrepreneurs across America. Jupiter Real Estate
SOURCE: U.S. Local Business Association
CONTACT:U.S. Local Business Association
Email: PublicRelations@USLBA.net

It's a big week in congress. Do we bail out the overpaid, underperforming auto industry? I find it ironic that the politicians are split on the issue, but if you think the housing and financial sectors are bad, just wait and see what today's stock market does (posting this on November 20 at 8:20). I suspect there will be a lot of deep downward movement today. Housing sales in the middle class will come to a complete standstill, new contruction will stop, and housing values will sink to levels of the 40's if not the late 20's. I'm not that worried about foreign car sales as the mass hysteria that ensues will result in foreign cars being run off the road. The problem is your new car will be a Tata GM- Tata is the Indian Car Manufacturer. (mark my words, one way or another Tata motors will buy something in the U.S)

Just incase you're on the fence....I think a quick look at some of the policies of the past 8 years might help explain why congress has no choice but to choose the lesser of two evils. The domestic auto industry did not go bankrupt without a litte help from the Bush administration. As a matter of fact, General Motors of China is a thriving business...they sell twice as many Buick Regals in China as they do in the United States. Ask any Chinese person why they buy GM and they answer quality. How ironic. Check it out for yourself.

So why is it that congress owns some of the responsibilty for the current state of the auto industry. Here's a look at the current trade deal with Korea. Yep, congress totally screwed the auto industry. Quality and cost of goods had nothing to do with it.

Here is a excerpt from the U.S -Korea trade deal.

Moreover, in 2006, South Korea shipped 700,000 automobiles to United States as compared to only 4,000 exported to Seoul. The US has an $11 billion global trade automobile surplus deal with South Korea. The figure comprises 82 percent of the entire deficit, which is expected to increase from $750 to $800 million per year.

Yes congress, maybe the executives of failing companies should trade the private jets for commercial tickets, but when you make policies that stack the deck against the entire U.S population don't grandstand on tv like it's the industry is 100% responsible.

So go ahead and screw me for another 25 billion so I can keep selling houses to people who actually have jobs in the U.S.

Just in case you still have a job and want to buy a house in Palm Beach Gardens please click the link.

Harbour Oaks is located in Palm Beach Gardens near the Gardens Mall. The design style has Mediterranean influence and the community features 317 residence town homes. It is within walking distance to major shopping and restaurants This community was built by Kolter and features 3 floor plans with 2 car garages that range from 2,000 to 2,400 square feet. Community features include the fitness/swim center adjacent to a pristine lake. The property also features a beautiful twelve acre Preserve. Harbour Oaks Features wonderful living for full time or second home ownership as well as select private rentals.