Cathy Sloan

I found the side by side comparison of both presidental tax cut proposals.

Interesting for family incomes between $66,355 and $111,645 Obama's proposal saves an average of a little more than $200 over McCains plan

Family incomes between 111,646.00 and 226,981 realize a larger tax savings with McCains tax plan than Obama's

According to this Obama's average tax cut will be $160. With 60% of the tax payers in the lower income groups, it doesn't seem like very much wealth is being spread when you divide it among them.

http://www.washingtonpost.com/wp-dyn/content/story/2008/06/0…

Looks like the middle and upper middle class will see a tax increase. Regardless of the promise not to raise taxes on those under $250K - Mon Oct 27 2008, 18:43

JR

"We have always given tax credits to low income earners. My single mother friend who earns about 22,000 a year gets a credit at the end of the year which amounts to more than she paid in income taxes. This isn't something Obama is starting."

Exactly. Therefore unless Mr Obamas plan will give and additional credit to the 40% who already pay no taxes due to the current Bush tax credit these individuals will be no better off. To keep his campaign pledge he will have to double up on the credits. I doubt he will as the Bush tax credit will expire.

I read some where that when the bush tax credits expire that the lower and middle class taxes will go up and Mr Obamas tax cut will actually result in a net increase in taxes to many wage earners. Won't this be a surprise to the masses? I wish I could remember where I got this information.

However the following link does a pretty good jov of showing how lower and middle clss wage earners actually benefited from the Bush Tax plan.

http://www.taxfoundation.org/news/show/1941.html - Mon Oct 27 2008, 17:09

Have you guys read the link that Love to fish posted?

http://www.spectator.co.uk/melaniephillips/2073071/revolutio…

Doesn't this concern anyone?

Based upon the tract record of any politicians campaign rhetoric becoming fact,once they are elected, its difficult to believe that $250,000 will be the actual figure used for the tax reform. However, it is an acceptable and popular figure for the masses to accept. It is also an amount that will encumber the least resistance.

JR I get the analogy in Antolin's post. It's not about whether the waiter will ever earn $250K . If we fixate on the dollar amount we loose site of what is really happening. . It is about taking one person's earnings and giving it to someone who doesn't work or who does not pay federal income tax. I don't think payroll deductions for Social Secuirty should be considered for a cut in taxes. Its just a way to justify giving a check back to those who do not pay federal taxes. Lets get real, a family's tax cut wil be between $500 & $1000. It's not an amount that will make any great changes in our lives. It is an amount that collectively could keep an individual from getting a job with a small business. As far as big business, they will just charge more for their products or services.

If we have to do this, I would be more agreeable for tax cut money going into an account to send the receiving individuals children or grand children to college or trade schools to ensure productivity and prosperity for our future generations. - Mon Oct 27 2008, 11:19

Obama appears to be the current front runner and more than likely will become president. His policies will affect us all.

Recently Obama introduced a proposal to place a 90 day freeze on foreclosures. Any discussion?

Huffington Post:
"TOLEDO, Ohio - Democrat Barack Obama proposed more immediate steps Monday to heal the nation's ailing economy including a 90-day moratorium on home foreclosures at some banks."

This was also introduced by house democrats in Oct. to be considered a requirement for Fannie Mae and Freddie Mac.

Below is a link to Obama's web site "know the Facts" page regarding the Freeze on foreclosures when it was proposed by Hillary Clinton in April 08. It includes Obama's and media's response.

http://factcheck.barackobama.com/factcheck/2008/04/29/fact_c…

My concern: Obama supports this when the Democratic party supports it. He doesn't seem to challenge the parites positions. It also brings up a rejected Obama contribution to the "rescue plan".

Those of you who are working with short sales realize that many banks are giving a 60 to 90 day window for homeowners to list and attempt to short sell their homes. This would require some banks to comply if the homeowner is trying to sort things out. Obama's words say "trying to make payments" should this include short sales ? What happens when payments have stopped because the homeowner is transferred out of state? Banks don't usually accept partial payments. Should they? Why not require all banks not just those backed by Fannie & Freddie?

Since many banks are already doing this. Is this why it has become a good plan? Perhaps its a good plan now because Obama endorses it ? Does Obama think its a good plan because the Democratic congress is considering this for Fannie & Freddie?

Another proposal is allowing a 15% withdrawl from our 401K plans up to $10,000 without penalty. I dont' think $10,000 is enough to help a Realtor sustain their business and household expense. What about other small one or two person businesses, is $10K enough for them?

I am fortunate to maintain a modest percentage of my Real estate earnings this year. My personal savings has supplied funds to meet several monthly budget deficits. Many of my peers have thus far withdrawn as much as $50,000 from their 401K to keep up with their business and household expenses. Tax and penalties for withdrawing 401K funds early could put some Realtors and small one two person businesses out of business come April 09.

Tom's first paragraph in this post sounds right on when he says no president or government can solve our problems. I just wish that our current presidential canidates had a clue as to what the small business owners such as Realtors, Appraisers, Home inspectors, Carpenters, plumbers, Small grocaery store owners etc need to keep the doors open through these trying times. - Sat Oct 18 2008, 05:09

Tom

I agree with you. It is so sad that our fellow Americans can and do spew such intolerance. America is great.

I don't understand those that feel as Bushwacked. Why on earth would some so well traveled, so educated and enlightened choose to continue to live in a country which makes them so unhappy. Instead they choose to stand in the shadows and spew discontent. Bushwacked's public profile on Trulia is anonymous.

I am a child of mixed heritage. Like so many Americans. My family tree is a coat of many colors. My melting pot includes White, Black, Hispanic and in-between. Protestants, Catholics and Jews

Fortunately, I have never experienced intolerance of my heritage in Florida or anywhere I have traveled in the US. My opportunities for a college education and ability to excel in my career have not been limited by my heritage.

I believe an Obama Presidency would enact programs for home ownership. If you recall It was a Democrat, the Clinton White House that pushed home ownership for every American and started all the lending policies that went awry. The Republicans are not blameless. Both parties had the best intentions but both parties allowed greed and politics to ruin the good deed.

Both Democrat and Republican parties understand that the mortgage industry and housing industry must be addressed and reformed if our economy is to improve. I believe our industry will benefit from either canidate. - Mon Oct 13 2008, 08:41

I think you are wrong. The election wouldn't be so close if that were the case.

However, it does disturb me that 95+% of black voters are voting for Obama. I understand pride of race but it could be construed as racist also. Wouldn't you expect that balck voters would be just as divided between liberal and conservative like the rest of the nation. - Sun Oct 12 2008, 11:58

Both Mc Cain and Obama have hordes of the same old Washington Crowd. I like Obama. I think he is sincere. I am a Dem

I don't like Nancy Palosi and the Dems that control Congress. I may vote against Obama because I am concerned about putting one party in complete control and did I mention I don't like the Speaker of the House. Congress has the worst approval rating ever. I am more concerned that if Obama wins he will be a one term President because of the congressional crowd and Washington will run amuck and become too liberal more like Nancy Palosi. Sometimes running the the oposite direction isn't the right answer either. It will take even longer to get our Country on the right track. I like the middle.

Unless someone just started paying attention to politics you would have to remember how for years McCain was always fighting against the Washington Crowd. Seems like his name was always coming up as the one leading the brigade against some legislation he didn't agree with. He might not be so bad. He is more like the Democrats of Old.

In any case whoever wins if the President and the congress doesn't deliver in 2 - 4 years there will be a whole new group. When this election is over. I think I''ll change my afiliation to Independent..

Still Undecided. - Sun Sep 21 2008, 12:59

Who really knows. I have been reading extensively about both candidates background.

McCain has ties to the Jacksonville Area. In 1967 he and his wife Carol with their 3 children purchased a home in Orange Park. I believe they owned that home until 1977. Today that home would sell for around $220,000. It sold in 1996 for $115,000. Sounds like he has experienced typical trials and tribulations of home ownership and the family budget for the average middle class family. Surely he remembers those years and can relate and will hopefully draw from that experience to promote the economy and home ownership for the masses.

In my research on Obama most of what he has written has been about finding his idenity, the authors who have linfluenced him, his days in Hawaii, his college days and his works in South Chicago. Other reference data is other writers trying to define him, mostly unflattering. We all know from experience our college days are not exactly in touch with reality. Most would agree the Real Estate in Hawaii may not give indication of Obama's understanding of the housing market. I believed his grandparents lived in an apartment or at least it was called an apartment, but they may have owned it.

Although, he was raised middle class it appears he identifies more with the folks that are below or lower middle class and his experience in South Chicago seems to be organizing tenants to deal with landlord difficulties and injustices. If he values home ownership then I'm sure he will encourage and promote programs that helps the lower middle class and below middle class realize home ownership. How that will affect the average middle class is any bodies guess. - Mon Sep 1 2008, 10:43

Rose

Closing cost can be generalized as a percent of the sales price and usually the percentages Eric quoted will cover closing cost if you secure a mortgage with 0% discount points and 0% Loan origination. In addition to lender costs, closing cost in Florida will include intangible tax and doc stamps on the Note if Eric's percentages sound a little high.

As Eric stated you also incur prepaid items to pay at closing. Eric has done an good job of explaining those. On an $80,000 purchase price prepaid itmes can be a little less than 2% to 2.25%. Shopping homeowners insurance for the lowest rates can achieve some savings.

Currently you can negotiate for the Seller to pay Buyer's closing cost and prepaid items. Many also begin their negotiations offering a figure less than list price and asking for these seller concessions. Success in a Seller agreeing to accept your offer will depend upon seller motivation, the market, the list price of the home you have selected and the amount of the homes appraisal.

If the home is a short sale or foreclosure property, negotiating both a seller concession for Buyer's closing cost, including prepaid items, and a discount on the list price can become more difficult. Many times the Bank or REO owners of these properties have alaready listed below market. They, many times, have a "bottom line amount" the bank will accept. On occasion, we see occurances, in our MLS, where the homes selling price exceeds the listed price with a notation that the Buyer's closing cost and prepaid items were paid by the Seller.

If I can be of assistance, please contact me. - Tue Oct 21 2008, 06:49

Debbie

The home you are inquiring about is located in Watermill. The most recent sales of homes approximately 2000 SF plus or minus have ranged between $170,000 and $194,000. In addition to the sales price of comparable homes in the area there are many other factors to be considered in determining value. The figures quoted are a ball park estimation. the ball park value could be considerably less or more than the actual current value of the subject home. - Sat Oct 11 2008, 19:06

Sally

This property was scheduled for public sale/auction on Sept. 29th at 11AM. If it was purchased by an REO company it can be several weeks or months before it will appear in MLS for sale as a foreclosure. If an individual investor won the bid, the home could go on the rental market. Time will tell. It will take several weeks before the sale will be recorded in public records.

If you are truly interested, I suggest you conact a local Realtor to monitor the activity on this property and advise you as soon as it is assigned to be listed for sale. - Sat Oct 11 2008, 18:37

Misty

If you have not had an opportunity to visit Jacksonville, I suggest that you do and explore the areas you are considering. Walk the areas, stop and ask shop owners and their workers how conducive the area is for walking and biking to work.

The area east of Nemours you speak of is knarled with a major interstate highway and its on off ramps as well as rail road tracks. Navigating around the many highway ramps, overpasses, tracks, etc. may provide safey issues other than crime. The area south may have more direct roads and sidewalks that are conducive to walking and biking

Another good area for you to research would be the beaches areas around AIA

The links provided by Shonda and David will allow you to highlight areas on a map and see the crime stats within a 1 mile radius. It is very easy to navigate. http://maps2.coj.net/crimestatsdiscl.asp?sJAxGIS=Y - Wed Oct 8 2008, 08:40