Liz Landry

The Wallstreet Journal released an article on March 27th 2009 that stated why its a good time to buy a home better then I could ever try to explain. Below are those six reasons.

1. Uncle Sam is willing to help. First-time buyers (defined as anyone who hasn't owned a home in the last three years) are entitled to a maximum $8,000 tax credit; interest rates are at record lows; and the Federal Reserve is doing its best to make mortgage loans available.

2. People have to live somewhere. About 800,000 new households are formed each year in this country, ensuring that the housing market will tighten, even if the economy doesn't soar.

3. Borrowers leverage their investment. If you put $10,000 into the stock market and it earns 10 percent, you've earned $1,000. If you put $10,000 down on a home and its values increases 10 percent, you've made $10,000.

4. When prices come back up, you'll have instant equity. In parts of the country where foreclosures have driven down prices, better times will mean the price of the home you buy will rise rapidly.

5. Mortgage costs stay the same. If you get a fixed-rate mortgage, the monthly payment stays the same - while everything else, including rent, goes upward.

6. You own it. There is something comforting in the notion that your home is your own. You can paint it any color you want, let the dog run in the back yard and hang a swing for the kids in the front.

So, I would say that those are some pretty powerful reasons on why its a not just a good time to buy a home, but a great time to buy a home!

Source: The Wall Street Journal, June Fletcher (03/27/2009)

There is a big problem occuring these days in the rental market. As we all know foreclosures are popping up right and left. An alarming 1/13 homes are going into some stage of foreclosure in Florida. So you ask how this affect rentals/tenants. We'll a large amount of these homes that are going into foreclosure are tenant occupied.

A good tenant, pays their rent on time, keeps the house up and all of a sudden there is a knock at the door and the bank says they need to be out within 30 days. Confusion sets in....the tenant has been paying the rent, why is he getting kicked out! Well the case is that many landlords are falling on hard times just like the rest of us. They take the rental money and pay the bills that they currently have, neglecting their investment property.

Why you need to know this. With home prices being so aggressivly priced right now it truly is cheaper to own then rent in most neighborhoods!! So, renting may not be your best option if you are qualified to own a home. If you choose not to purchase and continue to rent, be careful. Rent from a property manager, make sure that the property manager is in good communication with the landlord. Lastly, check the public records often for a Lis Pendens (notice of foreclosure) filing.

Its a crazy market out there right now......... be sure to safeguard yourself by working with qualified professionals.

The time that all Oakleaf Residents have been waiting for. POOL TIME!!!

We are happy to let you know that the Oakleaf Pools (Both of them) will be re-opening for spring on April 4th!!

POOL HOURS

Liz- 904-803-2459

This Weeks HOT Foreclosure List!! March 23, 2008

Oakleaf Plantation Foreclosures

IMPORTANT INFORMATION!!

First Time Home Buyers!!

$8,000 Tax Credit to First Time Home Buyers, AND buyers who have not owned a home in the last 3 years! This program is in effect by the government only for 2009. We can help you find your home to receive your $8,000 tax credit!

As many of you know the DOD (Department of Defense) has been looking for a solution for all of the Military folks who have received orders to move, and are now upside down on their homes. Being upside down on your home is an issue for any homeowner when their job decides to leave the area. This gives the average homeowner two main choices to avoid foreclosure.......rent out the house, or short sale the property. This presents a HUGE issue for military families.

Why you ask? When you short sale a home it does effect your credit. Now it effects everyone different but if you've already got so-so credit a short sale could put you into a credit status of distress. This can change security clearance for military personel. BIG PROBLEM when you are required to have certain security clearance to perform your tasks.

Luckily the DOD has been making revisions to its already in place HAP(Homeowners Assistance Program) program. The HAP system was previously only in place for when a base shut down. However, with the decline in the housing market, it has become very difficult for military personel to sell their homes.

The HAP program provides three main ways to help homeowners who can not sell for what their home is worth and have been PCS'ed.

• Private Sale Benefit
• Private Sale Augmentation
• Government Buyout

Vist out website to learn more information about the program, look at FAQ's and download Applications.

We have already started helping several homeowners in the Orange Park/NAS area work with this program and we would be happy to set up a consult with you to go through any questions.

Liz Landry - 904-803-2459