Tuesday, August 05, 2008

Here are some quick "tidbits" for you:

  1. The First-Time Home Buyer Tax Credit was just signed into law and it may be confusing for some to understand. The "credit" is actually a NO-INTEREST loan that will be repaid over a period of 15 years (read the fine print). It's a great deal, don't get me wrong, but it's not FREE MONEY ;-( To qualify, a buyers' date of first occupancy must be on or after April 9, 2008 and before July 1, 2009. Visit www.federalhousingtaxcredit.com for more info.
  2. If you have a Citizen's Wind Insurance policy, you may need a new roof w/i the next 6 months. An article in the St. Petersburg Times describes a homeowner with a shingle roof more than 25 years old AND/OR any type of roof more than 50 years old (i.e. concrete tile) may have their policy non-renewed when it expires. Call your insurance agent with any questions.
  3. Hundreds of foreclosed homes will be auctioned off in Tampa on August 13, 2008 and other parts of the state thereafter. Sponsored by Hudson and Marshall, (www.hudsonandmarshall.com), this aution may be a chance for investors to get in on a property with instant equity. If you go, make sure you register and bring the required downpayment in certfied funds (normally 5%-10%). The balance of funds are normally due within 30 days.

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