Blog About Orlando Real Estate

Real Estate Update — Orlando FL  — June 2009

Keller Williams Advantage Realty Group was recently ranked in the TOP 300 offices in the entire nation for all companies!  Offices are ranked by transactions and total sales.  This email was recently sent to our entire office from the President of Keller Williams in Austin TX:

Keller Williams Advantage Group:  TOP 300 IN THE NATION!

You’ve just received information from KWRI President Mark Willis about Keller Williams Advantage Group in Orlando FL.   This information is confirmed by the annual RIS Media Power Broker Survey and the REAL Trends 500 Report.

In both research organizations, Keller Williams Advantage Group is ranked in the top 300 brokerages….in ALL COMPANIES….in the country!

You all are some of the highest achievers in the country - be proud and please know we appreciate your continued vision, commitment, and partnership.  YOU ROCK!

– Mark Willis

To learn more about Keller Williams Realty and the great opportunities offered to their agents, visit www.KW.com or call me anytime!  Search Orlando area homes for sale here:  www.OrlandoAreaDreamHomes.com

Erik Hansen
ErikH@kwerik.com

Heathrow Country Estates — Sorrento, Fl — June 21, 2009

Heathrow Country Estates is located in Sorrento, FL just 15 minutes from the Seminole Town Center and 25 minutes from Lake Mary Fl.  The gorgeous Red Tail Golf Club has championship style greens and fairways for an enjoyable day on the course!  David Weekley, one of America’s top home builders, was fortunate enough to have purchased several lots in the Hawks Run portion of Heathrow Country Estates! Each of these estate homes have been drastically reduced in price in order to closeout the community.

Heathrow Country Estates is only a 45 minute drive to Downtown Orlando, 35 minutes to Winter Park, 35 minutes to Daytona Beach, 10 minutes to Mt. Dora, and 50 minutes to Orlando International Airport!

I would consider this community a luxury homeowner’s dream!  Includes custom homes built with all the amenities and designer touches in mind.  Whether you work from home or are planning your retirement, this community has the luxury ammenities you desire!  Luxury real esate in a gated golf course community is hard to find, especially with the tranquility of being in the country!  Check out all that Heathrow Country Estates and Red Tail Country Club have to offer!!

For more information on any of the estate homes discussed in this blog, click here: Contact Me, or call Erik Hansen at (321) 662-1025!

The Gasmer Model

Orlando FL — May 3, 2009 — TAX CREDIT for First Time Homebuyers

A tax credit of up to $8,000 is available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009.  We are already 4 months into the year, which means you only have 8 months left to find a home, make the offer and close on the property!  This $8,000 is available to anyone who has not owned a home within the last 3 years.

The American Recovery and Reinvestment Act of 2009 authorizes a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009.

The following questions and answers provide basic information about the tax credit. If you have more specific questions, I encourage you to consult a qualified tax advisor or legal professional about your unique situation.

1. Who is eligible to claim the tax credit?
   First-time home buyers purchasing any kind of home—new or resale—are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after January 1, 2009 and before December 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner.
2. What is the definition of a first-time home buyer?
   The law defines “first-time home buyer” as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse.For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the first-time home buyer tax credit. However, unmarried joint purchasers may allocate the credit amount to any buyer who qualifies as a first-time buyer, such as may occur if a parent jointly purchases a home with a son or daughter. Ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer.
3. How is the amount of the tax credit determined?
   The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
4. Are there any income limits for claiming the tax credit?
   Yes. The income limit for single taxpayers is $75,000; the limit is $150,000 for married taxpayers filing a joint return. The tax credit amount is reduced for buyers with a modified adjusted gross income (MAGI) of more than $75,000 for single taxpayers and $150,000 for married taxpayers filing a joint return. The phaseout range for the tax credit program is equal to $20,000. That is, the tax credit amount is reduced to zero for taxpayers with MAGI of more than $95,000 (single) or $170,000 (married) and is reduced proportionally for taxpayers with MAGIs between these amounts.
5. What is “modified adjusted gross income”?
   Modified adjusted gross income or MAGI is defined by the IRS. To find it, a taxpayer must first determine “adjusted gross income” or AGI. AGI is total income for a year minus certain deductions (known as “adjustments” or “above-the-line deductions”), but before itemized deductions from Schedule A or personal exemptions are subtracted. On Forms 1040 and 1040A, AGI is the last number on page 1 and first number on page 2 of the form. For Form 1040-EZ, AGI appears on line 4 (as of 2007). Note that AGI includes all forms of income including wages, salaries, interest income, dividends and capital gains.To determine modified adjusted gross income (MAGI), add to AGI certain amounts of foreign-earned income. See IRS Form 5405 for more details.

———-
To learn more about this tax credit, click on the following link:  IRS Tax Credit Info

“Orlando homebuyers are getting back into the market and taking advantage of the improved affordability,” says ORRA President Les Simmonds, L.G. Simmonds Real Estate Corp. “Lower prices, record low interest rates, and a vast selection of homes give homebuyers increased buying power, making it an excellent time to buy a home. This is especially true for first-time buyers who are eligible for the $8,000 first-time homebuyer tax credit.”  –(from the ORRA website)

I believe we live in a great part of the country that offers beautiful weather, plenty of shopping spots, great restaurants and friendly people.   The more the word gets out about all Central Florida has to offer, the more likely we will see the local real estate market get back to normal!  To find out more, or to discuss how I can help you relocate to the Orlando area, send me an email to: erikh@kwerik.com.

My Real Estate Websites include homes for sale in Orlando Fl, Lake Mary Fl, Winter Park Fl, and the surrounding areas:

www.OrlandoAreaDreamHomes.com

ErikHansen.YourKWAgent.com

Thanks for reading and be sure to comment if you have thoughts about this or any other posts on this blog!

Erik Hansen     Email: erikh@kwerik.com

Real Estate Consultant

Keller Williams Realty

***SOLD FOR $320k on May 22, 2009.  NOW is the time to get a great deal!***

• Foreclosed Bank Owned Property
• $385,900
• 5 bedroom
• 3 bathroom
• 3853 sqft = $100.16/sqft
• MOVE IN READY
• Huge Rooms
• Large Closets
• Great Location!

If you are looking for a nice bank owned property that is READY TO MOVE IN, this might be the perfect home for you!  Located in the Maitland area off of 17-92, this home is only 15 min. from downtown Orlando, 40 min. to Daytona Beach, 30 min. to Disney World, 20 min. to Universal Studios and Sea World, 20 min. to UCF and Research Park!   Contact Erik today for any questions about this or any other bank owned property.   We are hired by the banks to sell these foreclosed properties at great discounts below market value!   To search Orlando Bank Owned or Foreclosed Properties, visit www.OrlandoAreaDreamHomes.com!

Erik Hansen — Foreclosure Expert — Keller Williams Realty –

Cell: (321) 662-1025 — Email: Erikh@KWErik.com — www.OrlandoAreaDreamHomes.com – www.BlogAboutOrlando.com

* Prices are subject to change

* Property status is updated on a monthly basis, and may no longer be available.  Call for current status.  

Orlando, Fl – In the Central Florida real estate market (only including Orange, Seminole and Osceola counties), there are 21,448 properties on the market with 4043 being NEW listings to come on the market in March.  In the entire Orlando area real estate market, there are thousands of new homes to be built by home builders including: Centex, Ryland, D.R. Horton, Pulte, M/I, David Weekley, Meritage and KB Homes.   With only 4906 single famliy homes PENDING currently, we still have a long way to go in order to start earning positive returns on our #1 investment, the family home.  (Please disregard the html code below.  not sure why that is there.  sorry)