Judy Chapman

Hi Mike,
I work and live in the 32825 zip code. Naturally, I follow the market here quite closely since, like you, I have a personal stake in the value of my house.

We all know the effects of the building boom at this end of town. Even though it appears as if the market has been stagnant, houses ARE selling. And not just foreclosure/short sale properties but houses strategically positioned against the competition. In fact, the rate of selling--both here in 32825 and next door in 32828--has substantially increased in recent months.

Having said that, it depends on why you want to sell. If you intend to sell in order to move up to a larger house or to another neighborhood, then by all means sell now.

Yes, prices are depressed for you as a seller. But prices will be equally depressed for you as a buyer! Once you sell, you'll be in an unbeatable position. You'll have cash in your pocket AND a strong bargaining position. Not only will you be able to negotiate a great deal for yourself, you'll also have the greatest housing choices ever.

Remember this, too. Once the market stabilizes, not only will the market value for your house go up, the house you'll want to buy will also go up, and by the same percentage rate.

Unfortunately, there's no beating the market. Up or down, there's only keeping pace with it.

Hope this helps, Mike, in your decision-making.

Judy Chapman
Marketing & Pricing Specialist
Coldwell Banker Residential Real Estate
521 E Mitchell Hammock Rd
Oviedo, FL 32765
(407) 227-7763
judy.chapman@floridamoves.com
My Profile: http://www.coldwellbanker.com/for/JudyChapman
My Blog: http://activerain.com/blogs/orlandoforsale
Specializing in East Orlando, Oviedo, Chuluota, Tuscawilla/Winter Springs, Downtown Orlando, Lake Nona, Maitland & Winter Park - Mon Nov 3 2008, 14:29

Hi Kathy,
These are my favorite sites.
http://zipskinny.com/
http://www.clrsearch.com/
http://www.epodunk.com/cgi-bin/genInfo.php?locIndex=8800
Judy - Wed Oct 1 2008, 14:54

Woodwardhg,
In August 2005, the average square footage for single family homes in the 32814 zip code was $260. Square footage as of last month was $181 and has been holding there since May.

Neither the stock market nor the housing market can be predicted. You can only get an indication of trends by looking backward. Compared to three years ago, values are excellent. Additionally, in any community, there are always houses listed substantially below market. Most are bank-owned or foreclosure properties, but some are properties whose owners understand the need to be super-competitive.

Hope this information helps.

Judy Chapman
Coldwell Banker Residential Real Estate
521 E Mitchell Hammock Rd
Oviedo, FL 32765
(407) 227-7763
judy.chapman@coldwellbanker.com
Specializing in Oviedo, Chuluota, Tuscawilla, East Orlando, Downtown Orlando, Lake Nona, Maitland & Winter Park - Wed Aug 27 2008, 12:21

Hi Alessandro,

It's true, but with a lot of requirements.
~~~~~~~~~~~~~~~~~~~~~~~~~~~
2008 Housing Stimulus Legislation
First Time Home Buyer Tax Credit Fact Sheet


Who is Eligible

1. The $7,500 tax credit is available for first time home buyers only.
2. The law defines a first time home buyer as a buyer who has not owned a home during the past three years.
3. All US citizens who file taxes are eligible to participate in the program.

Types of Homes that Qualify for the Tax Credit

1. All homes, whether single family, townhomes or condominiums will qualify.
2. However, there are several conditions:
a. The home must be used as a principal residence, and
b. The buyer has not owned a home in the prior three years.
3. The Tax Credit includes newly constructed home.

Income Limits

1. Home buyers who file as single or head of household taxpayers can claim the full $7,500 credit if their adjusted gross income (AGI) is less that $75,000 annually.
2. For married couples filing a joint return, the income limit doubles to $150,000 annually.
3. Single or head of household taxpayers who earn between $75,000 and $95,000 are eligible to receive a partial first time home buyer tax credit.
4. Married couples filing jointly who earn between $150,000 and $170,000 annually are eligible to receive a partial first time home buyer tax credit.
5. The credit is not available for single taxpayers whose AGI is greater that $95,000 and Married couples filing jointly with an AGI that exceeds $170,000 annually.

Effective Dates for the Tax Credit

1. First time home buyers would receive a $7,500 tax credit for the purchase of any home on or after April 9, 2008 and before July 1, 2009.
2. To qualify, you must actually close on the sale of the home during this period.

Tax Credit is Refundable

1. A refundable credit means that if you pay less than $7,500 in federal income tax, then the government will write you a check for the difference.
a. For example, if you owe $5,000 in federal income tax, you would pay nothing to the IRS and the will send you the difference of $2,500.
b. If you are due to receive a $1,000 tax refund then your refund will total $8,500. ($1,000 plus the $7,500 tax credit)
2. If you purchased the home in 2008, the tax credit is taken on your 2008 tax return. If you buy in 2009, you have the option of taking the credit on your 2008 or 2009 tax return.

Payback Provisions

1. The tax credit is an interest free loan that must be repaid over 15 years.
2. The minimum repayment amount must be 15 equal annual installments. For example, if the credit amount is $7,500, then the home buyer must repay a minimum of $500 each year for 15 years.
3. A home buyer must begin repaying the credit two tax years after claiming the credit. For example, if the credit is claimed on the 2008 tax return, repayment of $500 (or less, if the credit amount is less than $7,500) per year begins with the 2010 return.
4. If the home owner sells the home for a profit and there is a remaining credit, then the home owner is required to repay the remaining credit during the tax year of the home sale. The amount of the repayment will depend upon the amount of profit from the home sale:
a. If the profit on the sale is more than the remaining credit, then the home owner must repay the entire remaining credit.
b. If the profit on the sale is less than the remaining credit, then the home owner must repay an amount equal to the profit on the home sale. The remaining credit payback will be forgiven.
5. If the home owner sells the home but did not make any profit on the home sale, then the remaining credit payback would be forgiven.

Further information regarding the tax credit may be found at
http://www.federalhousingtaxcredit.com or http://www.irs.gov

This information is provided for general awareness only, and is not intended for the purpose of providing legal, accounting, tax advice or consulting of any kind. Please consult with your tax professional for complete details.

Judy Chapman
Coldwell Banker Residential Real Estate
521 E Mitchell Hammock Rd
Oviedo, FL 32765
(407) 227-7763
judy.chapman@coldwellbanker.com - Mon Aug 25 2008, 04:55

You’ve picked some great areas to look for a home.
Pretty much all of Seminole County have A-rated schools. Sometimes it’s not so much the schools but the parents who contribute to these consistent outcomes. For example, since the demographics in Oviedo http://www.clrsearch.com/RSS/Demographics/FL/Oviedo/ and http://www.clrsearch.com/RSS/Demographics/FL/Oviedo/Educatio… show that the percentage of residents with a bachelor’s or advanced degree exceed the general U.S. population, it’s no surprise the schools also excel.
Generally, in the 32766 zip code of Oviedo, you’ll find new homes built in the last 10 years. Live Oak Reserve, The Sanctuary, and Kingsbridge are among the most popular, but there several other excellent subdivisions from which to choose. The 32765 area code of Oviedo offers homes built from the 80s or earlier to present day, and also has many fine subdivisions.
I would also recommend the Tuscawilla community in Winter Springs. Located just west of Oviedo, Tuscawilla offers quiet tree-lined streets with homes built mostly in the 90s and early 2000s. The Tuscawilla Golf Course and Country Club forms the backdrop of this community, giving it a feel of peacefulness away from the hustle and bustle.
Both Oviedo and Tuscawilla are accessible to the Greeneway (417) Tollway, which will take you anywhere within the Central Florida region. The University of Central Florida (UCF), which caters to over 46,000 students and offers disciplines through the graduate level, is also nearby.
Good luck in your home search.
Judy Chapman
Coldwell Banker Residential Real Estate
521 E Mitchell Hammock Rd
Oviedo, FL 32765
(407) 227-7763 - Fri Aug 15 2008, 07:35