Your March Hoyle Report: The word for spring may be “Buy Now.” Favorable housing affordability conditions are having a positive effect on the real estate market. Statistics released last month show that existing-home sales increased 2.7% from December to January of this year. Even more impressive is the fact that real estate sales activity rose 5.3% from January 2010 levels. A recent NAR survey for January 2011 gives more insight into the market: - 29% of purchases were made by first-time home buyers
- 23% were made by investors
- 48% were made by repeat buyers
- Cash sales rose to 32% of all transactions
The Western region of the U.S. led real estate gains: - In the West, sales rose 7.9%
- In the South, sales rose 3.6%
- In the Midwest, sales rose 1.8%
- In the Northeast, sales fell 4.6%
Historically, real estate enjoys a positive spurt in the spring. One thing buyers face now are more stringent lending standards. Lawrence Yun, Chief Economist for the National Association of Realtors, said, “There are abnormally high levels of all-cash purchases due to unnecessarily tight credit.” It is important to get pre-qualified to take advantage of the deals available. There may never be a better time to buy. Give me a call if you are interested.
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|  18880 LakeWorth Blvd., Port Charlotte, FL 33948 - $399,000
This is a must see with high ceilings and columns and fine appointments throughout including a custom office, fireplace, paver deck lanai & pool, oversized lot, 3 car garage and in impeccable condition! Truly a Must See! See it at:
SW Florida Homes Click on "Featured Properties". |  12348 Minot Ave., South Gulf Cove Waterfront Lot, Port Charlotte, FL 33981 - $42,000
Excellent lot for your Florida home with very quick access to the Myakka River and beyond to Charlotte Harbor and/or Gulf of Mexico. This is a new listing and priced for any investors as well.
Hurry on this one. Public water and more! Nice homes all around. Prime area! 941-235-3528 |  9172 Jernigan St, SW, Arcadia, FL 34269 - $449,900
Reduced $100K and will be reduced $10,000 each month!
Now here's a 10 acre retreat set in the country yet only minutes to shopping, Port Charlotte and Punta Gorda areas with abundant amenities. Take a look at this with equestrian possibilities, a 2 acre stocked pond and running brook year-round through the many fruit trees and palms. Truly a get-away, this adobe villa was meticulously designed and built with hurricane garded design on the roof and more. The main house features Spanish tile throughout with decorative porcelain sinks, cypress cabinets and woodwork throughout (Very Impressive Custom Built!) and a commercial kitchen with Vulcan six burner range. The guest house has quarters for 2 more bedrooms, one up and one down adjacent to the home and all overlook the lake/pond with rock formations. Take the winding road back through the Oaks, Palms and Fruit Trees to the home over the bridge and experience privacy with and herb garden and octagon shapped gazebo. Furniture and 60 inch commercial mower negotaiable. Call for more information regarding this very special home in SW Florida. Very unique. 941-235-3528 (Double Sided Fireplace Too!) |
Q: What is this trend of “man-caves” and “mom-caves”? A: Most men have a designated space at home for their manly pursuits. They claim that space as their “man-cave.” It could be a workshop in the garage, a basement game room, or a book-filled den. Women are starting to follow suit by staking out a space of their own. Elaine Griffin, a designer with Home Goods, calls it a “functional, restorative place where the mom nurtures herself.” This space could be an extra bedroom used for scrapbooking, sewing, blogging, or reading. Kim Mules, an HGTV designer, says it can also be as simple as a corner in a room designated as a woman’s personal area, furnished with a comfortable chair, a side table and a reading lamp. When I show potential buyers a home, they are trying to envision how they would live there. Finding extra spaces for the “man and the mom” makes a home more desirable. On March 17th, thousands of people flock to church, a local pub or the family dining room to celebrate St. Patrick’s Day. The origins of St. Patrick’s Day hail back to the 4th century when a 16-year-old man named Patrick from a wealthy British family was kidnapped by Irish pirates and taken to Ireland as a slave. He escaped, claiming later in confession that he was told in a vision by God to flee captivity to the coast where he’d find a boat to take him back to Britain. After returning to England he began his pursuit to become a priest. In 432, Patrick returned to Ireland as a bishop to share Christianity with the Irish people who were mostly polytheistic at the time. According to Irish legend, he used the three-leaf shamrock to explain the Christian doctrine of the Trinity. He spent the balance of his adulthood alongside chieftains and tribes in Ireland until his death in 461. By the ninth and tenth centuries, St. Patrick’s Feast Day was being celebrated by the Irish throughout Europe on the anniversary of his death and was later put on the Catholic liturgical calendar. St. Paddy’s Day celebrations have included festivities and parades in the United States since 1737. DIY is short for “do-it-yourself” – a term used to identify projects done without the help of a professional. If you’re a DIYer, painting (especially interiors) is something you can tackle without a professional’s help. But to start, you’ll need a good knowledge of the products out there. Water-based latex paints are by far the most popular on the market. They’re less likely than oil-based paints to yellow or fade, they dry much quicker, clean up with soap and water and are low in VOCs (volatile organic compounds - the bad stuff that’s in paint fumes). Manufacturers are now making eco-friendly latex paints with zero VOCs – better for you, better for the environment. Alkyd or oil-based paints are still revered by purists for their superior finish in a glossy sheen. These paints aren’t as prone to flake or peel and are more durable than latex. They may be preferable for areas that receive a lot of wear and tear, such as the exterior and floors of your home. But their fumes are noxious, requiring the use of a breathing mask when applying in closed-in areas, and you need a solvent, such as turpentine, to clean the paint from brushes and pails. Furthermore, environmental regulations are making them harder to purchase in many states. Paint manufacturers are reformulating them to keep in step with new laws, which can compromise the qualities that customers most appreciate about oil-based paints, or phasing them out altogether. Next month we’ll cover the different kinds of paint sheens and their uses. The tax benefits of buying a home include: Home mortgage interest deduction: The interest paid on a mortgage or mortgages of up to $1 million for a principal residence and/or second home is deductible as an itemized deduction. In the early years of a home loan most of the payments consist of interest, so this deduction is particularly substantial during the first years of homeownership. Depending on the state a buyer lives in and his or her tax bracket, this deduction can reduce the cost of borrowing by one-third or more. Home equity loan deduction: Homeowners can borrow up to $100,000 against the equity in their home and deduct the interest as an itemized deduction. The money can be used for any purpose, such as paying off high-interest credit card debt. In contract, the interest on credit card debt is not deductible. Property tax deduction: Homeowners also get to deduct from their federal income taxes the state and local property taxes they pay on their home. This is another itemized deduction that renters don't get. Deductible homebuying expenses: Various closing costs ordinarily involved in a home purchase are also deductible as itemized deductions, including loan origination fees (points), prorated interest on a new loan, and prorated property taxes paid at settlement. $250,000/$500,000 home-sale exclusion: Perhaps the greatest tax benefit of owning a home comes when a person sells it at a profit. Homeowners who lived in their home for two of the prior five years prior to its sale need pay no income tax on a substantial amount of their profit -- $250,000 for single homeowners and $500,000 for married homeowners who file jointly. This exclusion can be used once every 24 months. 14 days of free rental income: Another little known tax benefit of owning a home is that the owner can rent it out for up to 14 days during the year and pay no tax at all on the rental income. In contrast, a renter who sublets his or her rental must pay income tax on all the rental income he or she earns. Tax benefits of renting: The only tax benefit that a renter can qualify for by virtue of being a renter is the home office deduction. This is a business deduction available to renters who own a business and have a home office they use regularly and exclusively for business purposes. Some employees can qualify for this deduction as well. The deduction is limited to the amount of profit earned from the business each year. If a renter pays a lot of rent, this deduction can be substantial. Homeowners who are in business and have a home office can also qualify for the deduction. Of course, the value of the tax benefits of buying a home depends on the state the buyer lives in and his or her tax bracket. Buyers who live in high tax states like New York or California get the most benefit. This is why the blanket statement "it's always better to buy than rent" is not always true. It all depends on the buyer's individual circumstances. You should encourage prospective buyers to run the numbers. There are some excellent websites you can refer clients to that have online calculators they can use to compare the costs of renting vs. buying a home. We can e-mail you a list that fit your specific interests! Now is the Best Time to Buy in Florida. Call us and we'll tell you why. SW Florida Real Estate Awesome Prices and Values! Snooze-You Lose! http://www.homespuntagorda.com Thanks for reading! The According To Hoyle Group You've got a life; We help you live it! 877-75HOYLE or 941-235-3528 info@accordingtohoyle.com Sun Realty |