John's Real Estate Blog

Just Listed! 2296 S. Dana Pt Homosassa, FL 34448

April 25th, 2008 12:18 PM

$279,000.00
2296 S. Dana Pt

Homosassa, FL 34448

Beds: 3.0	Rooms: 3
Baths: 2.00	Sq. Ft.: 1872.00
Garage: 2.0	Built: 2004

This is a new listing that
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interested in. Visit this
listing online to see more
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Google Earth satellite
images, and much more.

If you have any questions
about this property or
require more information,
please feel free to call.

John P. Maisel III
John P. Maisel III - REALTOR, ePRO - Exit Realty Leaders
(352) 302-5351
www.flamlsonline.com

Visit this listing at Here

Posted by John P. Maisel III on April 25th, 2008 12:18 PMPost a Comment (0)

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2008 Is The Best Year To Buy A Home in 35 Years

April 17th, 2008 8:16 PM

Put the facts on your side!

Unfortunately, the media’s continued focus on negative real estate news is keeping many people solidly on the sidelines. But remember, these people aren’t getting the whole story. And the facts they’re missing can alter their mindsets. All we have to do is put those facts out there!

Fact #1: Some six million Americans are expected to buy a home this year. Six million people in the game make up a pretty big game. That’s a level of sales equal to the one we experienced in 1998—by all accounts, a pretty good year.

Fact #2: There is still over $23 trillion of value in u.s. housing stock. Home ownership continues to be the basis of our wealth in this country.

Fact #3: The housing market cannot help but grow. Our country’s tremendous wealth, liquidity, and entrepreneurship will continue to drive our economy. 70-100 million people will be added to our market in the next 40 years.

Fact #4: Real estate is cyclical. The biggest fear in good times is that the fair weather won’t last forever—because it doesn’t. But the reality of a cyclical real estate market also provides its brightest hope in bad times—foul weather won’t last forever either. What’s happening today is a market correction, severe in some places, but it’s not the end of the world. As shown by Fact #1, people are still buying and selling homes. The markets will stabilize.

Fact #5: 2008 is the best year to buy a home in 35 years. 1973 was the last time mortgage rates were this low in a buyer’s market. We had rates this low in 2001 and 2002, but those were strong seller’s markets with little inventory. The last two big buyer’s markets, in the early ‘80s and early ‘90s had much higher rates. Low rates and good inventory make 2008 the best year to buy in decades!

Fact #6: First-time buyers have a real advantage in today’s market. First-time buyers can buy at a reduced price without having to sell at one too. Higher limits on lower cost conforming loans also help first-time buyers purchase more home for their money. Today’s ‘starter’ homes can be pretty impressive.

Fact #7: First-time buyers lose money while they wait on the sidelines. First, renters typically pay more state and federal income taxes than homeowners with a mortgage deduction. Renters are also losing the wealth they could be accumulating as they pay down their mortgage and as their home increases in value over time (as it surely will). Lastly, renters who wait to buy will lose money if interest rates increase by the time they finally act. Higher payments from higher interest rates represent money buyers could have kept if they had bought earlier. Conversely, if they were willing to spend that amount of money earlier, they could have bought more home.

Fact #8: Homes sell when they’re priced right and show well. Buyers are looking for value in today’s market. When sellers make their home’s value obvious, they make a sale—it’s as simple as that.

Posted by John P. Maisel III on April 17th, 2008 8:16 PMPost a Comment (0)

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Just Listed! 5054 W. Mapleleaf ct. Lecanto, FL 34461

February 21st, 2008 12:47 PM

$159,000.00
5054 W. Mapleleaf ct.

Lecanto, FL 34461

Beds: 2.0	Rooms: 2
Baths: 2.00	Sq. Ft.: 1624.00
Garage: 2.0	Built: 1994

This is a new listing that
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interested in. Visit this
listing online to see more
photos of the property,
Google Earth satellite
images, and much more.

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Posted by John P. Maisel III on February 21st, 2008 12:47 PMPost a Comment (0)

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Home Maintenance Tips

January 23rd, 2008 8:41 AM

Do your homework

JACKSONVILLE, Fla. – Jan. 22, 2008 – Buy milk. Go to dry cleaner. Pay bills. Such reminder notes cover refrigerators, but tasks such as “vacuum refrigerator coils” don’t usually appear on to-do lists.

But benign neglect today equals costly repairs tomorrow. Preventive maintenance stabilizes a home’s value, something buyers and sellers always want to do. Concerns are especially acute while the real-estate market remains turbulent.

We asked Lou Manfredini, Ace Hardware’s expert, and Bob Markovich, home and yard editor for Consumer Reports, to suggest simple steps you can take to keep things running smoothly.

Roof
Every six months inspect this area of the house through binoculars. Check for damage or missing shingles.

Refrigerator
Because it runs 24/7, this appliance is one of the hardest working in the house. Remove the screws that hold the kick plate in place. The plate is on the bottom of the front of the refrigerator. Vacuum coils under the refrigerator every two to four weeks. Coils could also be on the back of the refrigerator.

Stove
Industry experts say sales of smooth-top stoves continue to climb. Do not use a damp cloth to clean smooth-top stoves. Chlorine and other chemicals in tap water can damage the porous surface. Instead, use a specialized cleaner. Apply it to a cloth, and then wipe the stove. If you have a gas stove, be careful not to touch the igniter when you are cleaning spills on burners.

Dishwasher
Every time you load the silverware caddy, make sure none of the utensils sticks up so far that it blocks the spray arm located at the bottom of the dishwasher. This could damage the spray arm and obstruct the flow of water, greatly reducing the efficiency of the washer. Clean the spray arm and inspect the strainer each month. The strainer should be free of food, broken glass and other debris.

Dryer
Clean the lint trap every time you use the dryer. To keep the appliance running efficiently and to reduce the risk of fire, clean the exhaust duct annually. You might have to move the dryer away from a wall. Disconnect the dryer duct from the machine. Use a duct cleaning brush kit to unclog the duct. Though many folks consider dryer maintenance a DIY task, you can hire a professional service company to do it. Fees range from $75 to $175.

Washer
At least once a year, remove grit from hose washer screens. The screens can be found where hoses attach to the pipes that supply the water.

Water heater
To conserve energy, set the thermostat at 120 degrees. Drain the water heater at least once a year to prevent sediment from building up inside the unit.

Air filters
Replace them at least once a month. A dirty, ripped or clogged filter could reduce the efficiency of your heating and cooling system by as much as 30 percent, Manfredini said. Replacing filters will help improve the air quality inside your home.

Air- conditioning and heating unit
Have a professional inspect the system annually. Condenser coils must remain free of debris. Ducts leading from the unit into the home must be sealed properly. Plant shrubs at least 12 to 14 inches away from the outdoor unit to prevent leaves, branches and twigs from clogging the system.

Gutters
Keep gutters unclogged to prevent water from backing up inside them. Water could pool on the roof and cause structural damage. Check downspouts at least twice a month. If water is not flowing out while it’s raining, then you know you have a problem. Place a leaf blower at the mouth of the gutter to dislodge anything that might be stuck inside. If you are comfortable climbing a ladder, go to the roof and sweep away the debris. Or climb the ladder so that you can reach the place where the gutter connects to the roof. Spray water through a hose to clear the downspout.

Decks
Use a pressure washer with a wide-spray nozzle to clean decks. Make your own gallon of cleaning solution that is 1/4 bleach and 3/4 water. Markovich suggests adding 3 ounces of TSP phosphate cleaner. Begin with the nozzle about 2 feet away from the deck, and move closer as needed. To avoid damaging the decking, keep the nozzle at least 6 inches away from the deck’s surface. About every three years, depending on weather conditions, re-apply a deck treatment product designed to resist damage from UV rays, weather and normal wear and tear. For wood decking, Markovich recommends using Cabot Decking Stain 1480, an opaque, oil-based substance, or Cabot Solid Color 1880, a latex substance.

2008 The Florida Times-Union, Brandy Hilboldt Allport; via ProQuest Information and Learning Company; All Rights Reserved

Posted by John P. Maisel III on January 23rd, 2008 8:41 AMPost a Comment (0)

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MORTGAGE RATES DOWN FOR THE THIRD CONSECUTIVE WEEK

January 20th, 2008 9:23 PM

MORTGAGE RATES DOWN FOR THE THIRD CONSECUTIVE WEEK

30-Year AND 15-Year FRM At Lowest Level Since July 2005

McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 5.69 percent with an average 0.5 point for the week ending January 17, 2008, down from last week when it averaged 5.87 percent as well. Last year at this time, the 30-year FRM averaged 6.23 percent.

The 15-year FRM this week averaged 5.21 percent with an average 0.4 point, down from last week when it averaged 5.43 percent. A year ago at this time, the 15-year FRM averaged 5.98 percent.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.40 percent this week, with an average 0.6 point, down from last week when it averaged 5.63 percent. A year ago, the 5-year ARM averaged 6.04 percent.

One-year Treasury-indexed ARMs averaged 5.26 percent this week with an average 0.6 point, down from last week when it was 5.37 percent. At this time last year, the 1-year ARM averaged 5.51 percent.

(Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage.)

"The latest retail sales report indicated that shoppers scaled back spending in December, as retail sales declined by 0.4 percent from November's level," said Frank Nothaft, Freddie Mac vice president and chief economist. "Particularly weak were sales of building materials, garden equipment and supply stores, which fell by 2.9 percent from the previous month. The declines aggravated concerns about the well being of the economy and exerted downward pressure on mortgage rates.

"Mortgage rates moved down across loan products for the third consecutive week. Average rates on 30-year fixed-rate mortgages (FRMs) and 15-year FRMs are at their lowest since July 2005. The results from this week's survey mark the first time in seven years that the average rate on the 15-year FRM is lower than the average rate on 1-year adjustable-rate mortgages (ARMs)."

Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible more than 50 million times, ensuring financing for one in six homebuyers and more than four million renters.

SUMMARY OF SURVEY RESULTS

Fixed-Rate Mortgages
	Average Conventional 30-Year Commitment Rate	Fees & Points	Average Conventional 15-Year Commitment Rate	Fees & Points
US	5.69	0.5	5.21	0.4
Northeast	5.80	0.2	5.25	0.2
Southeast	5.65	0.5	5.20	0.5
N. Central	5.75	0.3	5.22	0.3
Southwest	5.68	0.5	5.21	0.5
West	5.64	0.6	5.20	0.6

Five/One-Year Adjustable-Rate Mortgages
	First Commitment Rate	Fees & Points	Margin
US	5.40	0.6	2.75
Northeast	5.45	0.6	2.76
Southeast	5.38	0.6	2.76
N. Central	5.45	0.4	2.77
Southwest	5.37	0.7	2.76
West	5.37	0.6	2.74

One-Year Adjustable-Rate Mortgages
	First Commitment Rate	Fees & Points	Margin
US	5.26	0.6	2.77
Northeast	5.30	0.5	2.75
Southeast	5.21	0.7	2.77
N. Central	5.33	0.7	2.79
Southwest	5.15	0.7	2.78
West	5.27	0.5	2.79

Freddie Mac defines its regions as follows:

Northeast: NY, NJ, PA, DE, MD, DC, VA, WV, ME, NH, VT, MA, RI, CT
Southeast: NC, SC, TN, KY, GA, AL, FL, PR, VI, MS
North Central: OH, IN, IL, MI, WI, MN, IA, ND, SD
Southwest: TX, LA, NM, OK, AR, MO, KS, CO, NE, WY
West: CA, AZ, NV, OR, WA, UT, ID, MT, HI, AK, GU

Freddie Mac's Primary Mortgage Market Survey (PMMS) is for informational purposes only and Freddie Mac is not responsible for business decisions made based on the reported results of the PMMS. Freddie Mac may change the methodology used to conduct the PMMS survey at any time and without notice.

On the net: www.Freddiemac.com

Posted by John P. Maisel III on January 20th, 2008 9:23 PMPost a Comment (0)

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Housing slump may force Florida to make $2 billion in budget cuts

August 29th, 2007 8:11 AM

TALLAHASSEE, Fla. – Aug. 28, 2007 – Facing the worst budget crunch since the 2001 terrorist attacks devastated Florida’s tourist economy, state legislators on Monday were told they might need to slash state spending by more than $2 billion over the next two years.

Florida’s bleak housing market is the culprit, forcing a dramatic drop in state revenues collected through sales taxes and real estate transactions.

This week legislators have begun the task of looking to slash $1.1 billion out of the $71 billion state budget that took effect on July 1. Those cuts will be finalized during a three-week special session set to begin on Sept. 18.

It’s anticipated the Legislature will have to trim up to another $900 million next spring when it must put together the next state budget.

Among the possible cuts in coming months are state spending on nursing home and hospital care for the poor. Also, university students could face higher tuition as soon as January and people who use state programs, such as parks, could be facing higher fees to make up some of the money.

Senate committees will look to cut 4 percent in the major areas of state spending, such as education, social services and education, mostly through across-the-board cuts.

“These cuts will be very tough, but our goal is to affect the least amount of people,” said Senate Ways and Means Chairwoman Lisa Carlton, R-Osprey.

House leaders plan to target specific programs and are hoping to spare public schools from the brunt of the cutbacks, which could reach $700 million.

“It’s all tough ... but we’ll make education a priority,” said House Budget Chief Ray Sansom, R-Destin. “There will be some reductions [in schools], but they will be reasonable, not drastic changes.”

State spending has been buoyed in recent years by the state’s housing boom and hard-hitting back-to-back hurricane seasons in 2004 and 2005. The storms caused billions of dollars in damage, but also fueled a rebuilding effort that boosted sales tax collections by billions of extra dollars.

“It’s either boom or bust,” said Sen. Gwen Margolis, D-Sunny Isles Beach.

For the past few years it was hurricanes that “made the budget work,” Amy Baker, the state’s chief economist, told legislators on Monday. “But you can’t rely on that ... to bail you out again.”

She said estimates that the state will be short $2 billion in recurring revenues from tax sources are “conservative.”

And in the midst of this financial crisis, the state over the next three years is facing some big increases in ongoing programs, including another $2.4 billion for increased student enrollment and smaller class sizes in public schools, an increase of $1.6 billion for Medicaid expenses, $1 billion more for state employee benefits and salaries, and $800 million to build more prison beds and operate the corrections system.

But Sansom voiced confidence the economic outlook will improve.

“While it looks gloom and doom right now, I’m not sure it’s going to stay that way ... I think the real estate market is on the brink of breaking wide open if insurance and taxes become more affordable,” he said.

Copyright © 2007 South Florida Sun-Sentinel, Linda Kleindienst. Distributed by McClatchy-Tribune Information Services.

Posted by John P. Maisel III on August 29th, 2007 8:11 AMPost a Comment (0)

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Just Listed! 9287 S. Richtop Terrace Homosassa, FL 34446

August 14th, 2007 3:24 PM

$124,900.00
9287 S. Richtop Terrace

Homosassa, FL 34446

Beds: 4.0	Rooms: 11
Baths: 2.00	Sq. Ft.: 1836.00
Garage: 0	Built: 2000

Beautiful 4 Bedroom, 2 Bath Home, Nestled in a Private 1.78 Acre Parcel, Features an Open Floor Plan, Spacious Kitchen, Living/Dining Room and Family Room. Outside, Enjoy the Large Front Porch or Side Deck with Gazebo. There is Also an Outbuilding That Can Be Used As a Workshop or Storage Shed. Plenty of Room if You Want to Add a Pool. Approx 45 Minutes to The Tampa Bay Area.

This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google Earth satellite
images, and much more.

If you have any questions
about this property or
require more information,
please feel free to call.

John P. Maisel III
John P. Maisel III - REALTOR, ePRO, Exit Realty Leaders
(352) 302-5351
www.flamlsonline.com

Visit this listing at Here

Posted by John P. Maisel III on August 14th, 2007 3:24 PMPost a Comment (0)

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Florida’s free hurricane home inspections resume

May 8th, 2007 8:24 PM

Florida’s free hurricane home inspections resume

TALLAHASSEE, Fla. – May 7, 2007 – Florida’s free hurricane inspection program has resumed, according to Florida Chief Financial Officer Alex Sink. HB 7057, passed during the legislative session that ended on Friday, made adjustments to the My Safe Florida Home (MSFH) program.

The MSFH program allows Florida homeowners to sign up through its Web site for a free wind inspection designed to look for ways a home came be fortified, called mitigation, to prepare it for a hurricane. If the inspection teams find items that could be improved, the state will also provide matching funds, within limits, for every dollar the homeowner spends.

More than 50,000 homeowners are already on the program’s waiting list and these homeowners should expect to be served by the end of the summer. Floridians on the waiting list who have not heard from a participating wind inspection firm by June 30, 2007, should contact the MSFH program’s toll-free helpline at (866) 513-6734.

New applicants can also apply over the MSFH program’s Web site (www.MySafeFloridaHome.com) or over the program’s toll-free helpline at (866) 513-6734, but Sink says that the waiting list will be handled first, and anyone applying for the first time should not expect to receive a free wind inspection before August 2007.

However, Floridians who want a wind inspection before hurricane season starts on June 1 – and don’t plan to apply for matching funds – can pay a $150 fee directly to the independent inspection firms participating in the program. More information on contacting an inspection firm can be found at www.MySafeFloridaHome.com.

To date, the MSFH program has awarded about $200,000 to 88 Florida homeowners who hardened their homes against hurricanes through the MSFH program. The state reimbursed the homeowners, who received free wind inspections during the pilot phase of the program, for half the cost of home improvements, including hurricane shutters, reinforced garage doors and roof enhancements. More than 5,100 Floridians are currently working on mitigation improvements through the MSFH program and will receive their matching grants once the work has been completed.

© 2007 FLORIDA ASSOCIATION OF REALTORS®

Posted by John P. Maisel III on May 8th, 2007 8:24 PMPost a Comment (0)

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Just Listed! 11874 W. Sunnybrook Ct. Crystal River, FL 34429

May 7th, 2007 11:59 PM

$338,500.00
11874 W. Sunnybrook Ct.

Crystal River, FL 34429

Beds: 2.0	Rooms: 0
Baths: 2.00	Sq. Ft.: 1440.00
Garage: 1.0	Built: 2000

Exceptional Waterfront Value!!! Lowest Priced Home in Dixie Shores. Must see to appreciate the value. Furnished, call agent for list of what s included.

This is a new listing that
I thought you might be
interested in. Visit this
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Visit my wesite at www.flamlsonline.com

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House approves two tax-cut bills

April 20th, 2007 9:20 AM

House approves two tax-cut bills

TALLAHASSEE, Fla. – April 19, 2007 – The state House of Representatives voted unanimously Wednesday to roll back property taxes to 2001 levels, while also passing, along party lines, a second plan to rewrite Florida’s tax code and give voters the option of eliminating property taxes on their homes by raising the sales tax.

House Democrats said they support the rollback bill because it sends the message they support tax cuts, but warned that they want it revised to have a less harsh impact on local government.

The second plan, advocated aggressively by House Speaker Marco Rubio, won a divided vote of 78-40, with only two Democrats, Reps. Luis Garcia and Ed Bullard, both of Miami, voting with Republicans. Two Republicans, Reps. Gayle Harrell of Stuart and Andy Gardiner of Orlando, voted against it. None explained their votes.

The measures are the first step to a resolution on the top issue of the legislative session: lowering property taxes across the state. Neither approach is expected to be accepted by the Senate but will serve as the starting point in the debate to begin next week when a joint committee hammers out the differences.

Under the House plan that passed on a partisan vote, voters would be asked in November 2008 to approve a constitutional amendment to lower property taxes across the state by $4.4 billion by 2009. Local governments then would have to roll back taxes and cut their budgets.

If voters approve the constitutional amendment, it would immediately strip away all taxes that pay for schools and automatically raise the statewide sales tax by 1 cent. After that, counties would have the option to eliminate all property taxes on homesteaded property and replace the lost income with a local sales tax of up to 1.5 cents more.

Republicans called the plan bold, innovative and the “largest tax cut in the history of Florida.” They promised that it would have wide-ranging benefits not just to homeowners but to businesses and renters, who would also see their tax bills drop while homeowners see the biggest declines.

“This isn’t to protect government, this is to protect the taxpayer,” said Rep. Ray Sanson, a Destin Republican.

Democrats argued that the proposal will have far-reaching negative consequences. Renters and businesses would see little relief, while homeowners see the greatest benefit. Low- and middle-income homeowners would shoulder the greatest share of the sales-tax increase while seeing the least benefit. And the elimination of the property tax on homes, they said, would result in a more apathetic citizenry and a vulnerable state financial system that could jeopardize the state’s bond rating.

“We support the tax cuts. We support the rollback,” said Rep. Dan Gelber, the House Democratic leader from Miami Beach. But the other proposal falls short, he said, because “you’ll be sending everybody to the polls to vote for a sales tax increase that only benefits some people.”

Posted by John P. Maisel III on April 20th, 2007 9:20 AMPost a Comment (0)

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