‘Good News’

Feds Extend First Time Homebuyer Tax Credit

Sunday, November 29th, 2009

Good news for first time home buyers who want to purchase Orlando real estate – the tax credit instituted earlier this year has been extended December 1st through April lake  mary home30th, 2010.

Not only has it been extended, but the credit has been expanded to include buyers who are moving up to attain higher-priced property, allowing $6,500 for qualified parties. One of the qualifications is that existing home buyers have to have lived in the primary residence they are selling for five of the last eight years consecutively. Income requirements have also changed along with this extension of H.R. 3548. An individual can earn $125,000 per year while couples are limited to $250,000 in income. Orlando Florida homes must be under contract by the end of April and the purchase must be finalized by June 30.

Since its inception, the tax credit has infused the central Florida real estate market with new life. Orlando, Longwood, Lake Mary, and Sanford homes for sale are all selling at an increased pace while inventory, overall, is declining. The first time homebuyer tax credit has a great deal to do with this trend. Property valuations have stabilized and now that sellers can earn a credit, it is a win-win situation for both sellers and buyers in the central Florida real estate market.

Take a look at the Orlando listings as well as other areas in central Florida now. You may just find the perfect home to purchase, whether you are a first time buyer or just want to move up to a more valuable property, and receive a healthy tax credit to boot.

The Future of Central Florida – the SunRail

Monday, November 9th, 2009

One of the few drawbacks to life in central Florida is the amount of traffic congesting the state’s freeways. The working class is obviously the hardest hit. For instance, residents who enjoy living in Lake Mary homes and who must commute to downtown Orlando each day for work often spend hours on the road. But this doesn’t mean you shouldn’t consider buying that luxury Florida vacation property; SunRail is on the way!SunRailLogo

The SunRail is the newest project aimed at providing relief to commuters in central Florida cities. While the construction phase can be painful to businesses along the planned route, the end result should be reason to rejoice.

Based on successful urban light rail systems such as the one newly installed in Phoenix a year ago, the SunRail provides a quick, easy, and comfortable form of transportation that bypasses gridlock and traffic accidents. The metro light rail has already gotten accolades and achieved much recognition in Phoenix for its aid in reducing pollution and providing a quick, clean commuter transport with convenient access to the most visited locales in the city.

The first phase of the SunRail route instituted by the Florida Department of Transportation will link Orlando with the suburb of DeBary. Currently, the first phase of the project is scheduled to be completed in the early months of 2011. Subsequent routes will include service to DeLand and Poinciana and all points in between these towns and Orlando.

For anyone considering the purchase of central Florida real estate in areas previously accessible only by car, the SunRail is great news. Don’t be afraid to place on an offer on property in the ‘burbs; the light rail is coming soon!

Central Florida Living – the Good News

Wednesday, November 4th, 2009

Everyone knows that central Florida is a great place to live. From the beaches on either side of the state to the Disney World theme park, a warm and sunny climate to numerous natural lakes, ponds, and rivers, the area beckons new residents and visitors alike. Although most people think of central Florida real estate as being most attractive to retired couples, the truth is this is a wonderful location for younger families and singles, too.

Whether you are looking for Orlando luxury homes for a primary residence or Lake Mary properties for a vacation destination, the truth is you can’t go wrong buying real estate in Florida’s central corridor. But if you need a bit of added incentive, we will remind you of the good news going on in the state periodically in this blog.The first piece of good news is a recent decrease in the rate of electricity for homeowners in Winter Park. That’s right – instead of going up like everything else, those who own Winter Park real estate are now finding lower electric bills in their mailboxes. The 4.5% decrease went into effect October 1st of this year. The director of the city’s electric utility department gives the credit to falling prices for fuel and is pleased to pass along this savings to customers. This trend is expected to continue in the next year or two.

Now isn’t that great news? In an economy that has been marked by nothing but a higher cost of goods, a lower real estate valuation, and an increasing loss of jobs, the ability to save money on a monthly bill is a real boon.