Homebuyer Tax Credit Reminder

By Guest Contributor Judy Campo, Manager, Coldwell Banker Residential Real Estate, Coconut Grove office

House hunters have less than six weeks left before deadline for the $8,000 tax credit!

This can be emotional roller coaster for frustrated buyers who are hoping to take advantage of the federal government’s tax credit and be under contract by April 30 and close by June 30.

Competition is fierce on homes priced $300,000 and under, and when multiple offers are being considered a cash buyer will most likely get the deal. Adding to the problem is removing the short sales and foreclosures which make up about 60% of the homes available for sale because these homes probably will not close on time. This leaves fewer homes available and is causing buyers concern that their dream home cannot be found.

If you are still interested in taking advantage of the tax credit, get in touch with a Realtor ASAP to help you select homes in your price range and put you in touch with a lender. The credit for a first-time homebuyer is equal to 10% of the cost of the home (up to $8,000). Repeat buyers qualify if they have owned and lived in the same house for a minimum of 5 consecutive years. Vacation homes and rental properties do not qualify. Restrictions on annual income are $125,000 for singles and $225,000 for couples filing jointly.

Please remember that buyers can’t use the tax credit for down payments and/or closing costs — credits are claimed on an individual’s income tax return. For more details on the $8,000 tax credit, check out www.irs.gov or 800.829.1040, www.realtor.org, or www.federalhousingtaxcredit.com.

On the positive side, if you can’t find your home before April 30, you may still be able to qualify for a home because of lower prices and low interest rates just above 5% for a 30-year fixed rate. Call your favorite Realtor NOW!

12000 NE 11 Pl, swimming pool photo

14 Pinta Rd, Exterior photo

515 Altara Av, Exterior Front photo

Finding the Perfect Match

By Guest Contributor Julianne Villapiano, Sales Associate, Coldwell Banker Residential Real Estate, Cooper City office

First time home buying is an experience wrought with uncertainty, fear, hope and excitement. With the right person steering a buyer on their voyage, the pitfalls can be eliminated and the excitement can be multiplied.

A thoughtful Realtor remembers the overabundance of emotions that accompany the first time home buying experience. What do the homebuyers need? Usually they don’t have any idea! What can they afford? Some will underestimate, while others overestimate. It’s the talented Realtor who can steer them to the house of their dreams while still meeting their needs and expectations.
Fluctuating interest rates, last minute requirements from the mortgage company and unexpected expenses for inspections may fray the nerves of buyers, making them doubt if they are really capable of seeing the deal through; a caring Realtor can picture themselves as a knight slaying the dragon that is the homebuyer’s fear, with knowledge as the sword and experience as the shield, the homebuyer is well protected.

Homebuyers shouldn’t be apprehensive, as long as they realize their Realtor is there for them. Sometimes it takes time and patience to find the proper home. In this aspect, the Realtor is like a matchmaker, trying to pair the homebuyer with a house that meets their needs and wants. Magic happens when a family is coupled with a house that will be their home. From a new homeowner’s perspective, any stress or anxiety is worth it once all is said and done; it’s like finding a soulmate.

What it comes down to, for homebuyers, is that they need to feel the freedom to ask their Realtor questions without feeling judged or measured. A first-time homebuyer, for the most part, is going to need a lot of guidance and knowledgeable answers. A Realtor who is open and shares his or her experience and knowledge for the benefit of their homebuyers is a Realtor who is successful not only in business, but in dreambuilding.

Today’s real estate market, with the prices as low as they are, is making it possible to fulfill the dream of homeownership for people who feared they could never afford it. Realtors have a special place in the attainment of these dreams. With the Realtors and the homebuyers working and harmonizing together, great dreams can become great realities.

Start living the dream today; contact your matchmaker…….

Sarasota "Google Island"

Sarasota, Florida is pulling out all the stops to become one of the host cities for Google Fiber - Google's ultra high-speed Internet service. It's expected to provide 1 gigabyte per second, making internet 100 times faster than today! Google is currently looking for communities to build and test the service.

It started when city leaders launched "I Want Google Fiber in Sarasota" campaign on sites like Facebook and Twitter. So far, Sarasota 2,500+ fans trails seven other cities in the race to have the most Facebook fans. Grand Rapids leads the pack with over 25,000.

Sarasota needed to set itself apart from its competitors, so, yesterday, city commissioners temporarily renamed City Island to Google Island (GoogleIsland.net).

"We have only a few weeks to make an impression," said Rich Swier, co-founder of The HuB, a destination for entrepreneurs, artists and professionals to share ideas. "There are hundreds of communities fighting for this opportunity so we want to show that Sarasota is a creative community."

Kelly Kirschner, Sarasota's Vice-Mayor, thinks that Google Fiber might bring more jobs and money to the city. He says, "These are game changers in terms of perhaps differentiating your community with another." And with more jobs, come more people buying homes - helping to further boost the local economy.

Other communities vying for Google's attention include Topeka, KA and Duluth, MN. According to a recent article on PCWorld.com , Duluth city officials posted a spoof press conference on YouTube where they proclaimed that every first born male in the city would be named "Google Fiber" and every female would be named "Googlette Fiber."

You can get in on the Google Fiber bid and nominate Sarasota before March 26 at GoogleIsland.net.

How do you think Google Fiber can help boost Sarasota? Does the city have a chance of winning?

Still Time for Homebuyer Tax Credit

The countdown has begun! There’s still time to qualify for the $8,000 first-time homebuyer or $6,500 repeat buyer tax credits, if you act quickly — the credits expire on April 30, 2010. If you sign a sales contract by the deadline, you have an additional two months to close the sale by June 30.

Is the $6,500 or $8,000 tax credit a critical factor in your decision to buy a home now?

Steady Pinecrest Has Limited # of Distressed Properties

By Guest Contributor Joanna Sherman, Branch Manager, Coldwell Banker Residential Real Estate, Pinecrest office

The Village of Pinecrest has very few distressed properties currently listed for sale. Below is a comparison of Pinecrest and area 50 as a whole. Area 50 runs from 184 Stret on the south to 88 Street on the north, and from 117 Ave on the west to Biscayne Bay on the east. The Village of Pinecrest is in area 50; however, it occupies only a small portion of the area. Pinecrest runs from 136 Street on the south to 88 Street on the north, and from US1 on the west to Old Cutler Road on the east.

According to SEFMLS (as of 2/18/10), Pinecrest has a substantially lower number of non- distressed properties currently listed for sale as compared to area 50 as a whole. In Pinecrest, only 24% of actively marketed townhouses and condos (up to $200,000) are distressed properties; in Area 50 that number jumps to 65%. Only 13% of single family homes in Pinecrest (up to $500,000) that are actively being marketed are distressed; in Area 50 that number is more than tripled to 42%.

Pinecrest is a family oriented community. Among many other local conveniences is the Pinecrest Branch of the Miami Dade County Public Library System. The Library is located adjacent to the Pinecrest Community Center and has a large, open children’s room with comfortable seating, an auditorium for meetings and events and a gallery to display artwork.

Below are three properties currently listed for sale in Pinecrest:

7240 SW 110 Terrace

5845 SW 107 Street

8161 SW 128 Street, Unit 104

Refinancing – Is Anyone Eligible?

According to a recent article on WSJ.com , 37% of borrowers with 30-year confirming fixed-rate mortgages have interest rates of 6% or higher - many could reduce their rates a full percentage point if they refinanced at the current rate of 5%. Over the life of a 30-year loan a borrower could save approximately $40,000 in interest by refinancing.

Unfortunately, average homeowners have had a difficult time trying to take advantage of the lower rates. Fannie Mac and Freddie Mae refinanced 4.2 million borrowers last year, and those borrowers will save an average of $2,600 annually, but according to Michael Fratantoni, the head of research and economics for the MBA, the savings are only going to "very, very good credit borrowers" and the refinancing isn't "going very far down the credit spectrum."

Credit problems are not the only issues that consumers have been facing when they try to refinance — many have been turned down because they don't have enough equity in their home, or they owe more on the house than it's worth. Others have noticed that it doesn't make good financial sense to refinance because of the high fees being charged by the lenders. Says one consumer, "We just can't get a good enough rate to make the refi worth it."

The government program that was launched last year to help homeowners with little or no equity refinance has just been extended for another year (it was set to expire in June 2010). So far, 188,000 borrowers who owe between 80% and 105% of the value of their homes had refinanced through December 2009.

If you have recently refinanced, what has been your experience?

Rise In Multi-Generational Housing Trend

37% of Coldwell Banker real estate professionals say in the past 12 months, they’ve been seeing more families looking for homes that can accommodate multiple generations. Nearly 70% believe economic conditions may cause greater multi-generational housing demand.

Topping the list at 39% for reasons was finances. Another top ranking issue at 29% was health care. 6% referenced strong family bonds.

Hints for marketing your home for multi-generational buyers:

• Highlight "mother-in-law suite," garage apartment, refurbished basement or additional space
• Buyers should know clearly if they just want an extra bedroom — or need a separate kitchen, entrance, handicap accessibility or larger garage, plus proximity to local hospitals and senior centers
• Extended families buying a home together should consider signing a written contract outlining everything - from finances to chores and childcare

Do you know any families sharing a single residence with other generations to save money? Have you noticed more homes listed for sale that highlight multi-generational living possibilities?

Florida Home Sales Up 24% in January

Florida's existing homes sales rose 24% in January with a total of 10,465 homes sold as compared to 8,444 homes sold in January 2009. Existing condo sales gained even more momentum with an 81% increase over the previous year's sales figures.

According to data released by Florida Realtors®, this is the 17th straight month sales activity has increased in the year-to-year comparison.

“Now is the time for anyone thinking of buying a home in Florida to make that decision,” said 2010 Florida Realtors President Wendell Davis. “Markets across the state are seeing increased sales, yet conditions remain very favorable with still-low mortgage rates, a range of housing inventory and attractive prices. As an added incentive, buyers need to accelerate their plans because a purchase contract must be in place by the end of April to take advantage of the extended and expanded federal tax credit. To find out more, consult a Realtor about options, qualification criteria and opportunities in your local housing market.”

Florida's median home price was $130,900 in January, a 6% decrease from a year ago when the median price was $139,400. The existing condo median sales price last month was $97,300, a 14% decrease from $113,300 in January 2009. The National Association of Realtors cites the sales of foreclosures and distressed properties as a reason for the drop in prices since these homes generally sell at a discounted price as compared to traditionally sold homes. The national median home price is $177,500, up 1.4% from a year earlier.

“With inventory levels trending down over the past 18 months, we expect broadly balanced housing market conditions in much of the country by late spring with more areas showing higher prices,” said NAR Chief Economist Lawrence Yun.

What are you noticing in your local real estate market? Do you think that home sales will continue to increase?

Sellers Getting Hurt By Chasing Declining Market

By Guest Contributor Nancy Hogan, Branch Manager, Coldwell Banker Residential Real Estate, Coral Gables San Remo office

Telling sellers the truth in today’s real estate environment is an absolute must. Pricing effectively and counseling sellers of the realities of today’s marketplace can save a seller thousands of dollars at the closing table.

There are many cases where sellers have turned down initial offers thinking the offers were low only to result in the end, many months later in much lower sales prices translating to the loss of thousands of dollars.

The asking price of a seller in today’s marketplace needs to take into account the many variables of a marketplace that still has some declining factors. You don’t want to be chasing a declining market – you need to be ahead of it.

According to statistics from Trendgraphix, the average price per square foot in Coral Gables for the period January 2009 compared to January 2010 for properties for sale, the statistics reflect a $547 square foot asking price vs. $437. Sold properties for the same time period record an average price per square foot of $334 vs. $350 or an increase of 4.8% in 2010. The properties currently for sale show a decrease in the average asking price per square foot of 20.1% decrease for the same period. Clearly one would think this reflects more realistic expectations by the seller as they realize the economy is not rebounding as quickly as anyone would like. Unfortunately you are still looking at an average listing price of $437 compared to a sold average sales price of $350.

It is important that sellers price their homes effectively as the market velocity is improving. Well priced homes are moving and moving quickly. Working with a knowledgeable Realtor who understands the data will be able to assist the seller with strategies that make their real estate transactions successful.

Are sellers becoming more realistic with their listing prices in your area?

Truth About Foreign Buyers…One Broker’s 5 a.m. Adventures

By Guest Contributor Jeri Jenkins, Broker Associate at the Coldwell Banker Residential Real Estate Miami Beach office.

A few years back when the market was just starting to slow down and the dollar had dropped significantly, the media was blaring headlines about foreign buyers laden with cash coming to the U.S. to buy everything they could get their hands on.

All of my anxious sellers were asking me, “Where are your foreign buyers?” I knew that if they were, in fact, out there in droves, I would have certainly seen them since I am on the lookout eight days a week. I got the occasional Russian, sun seekers from the UK or the Italians wanting a fun South Beach condo, but nothing like the media made it sound. So, since sellers rarely want to just take your word for it, I started my crack-of-dawn research.

In pursuit of the truth about foreign buyers and determined to have a straight and true answer for my sellers, the story turns ugly with me getting up at 5 am, putting on my Skype headset and calling every high-end broker in major cities across Europe.

At first, I tried ingratiating myself and promising a long and mutually beneficial relationship to the head of each international department; I was without fail told to take a hike. In slightly more polite terms of course.

I was given many reasons why U.S. residential real estate wasn’t even on their radar

1. Our market was considered too volatile
2. An intense dislike of the new visa laws in which foreign travelers felt like they were treated unfairly
3. Everyone was buying in Dubai (we know how that turned out), South of France or the Seychelles Islands
4. No one understood our property taxes or insurance requirements

So, now I had an answer. The perception given by the media that foreign nationals were lining up to make purchases was not true.

I am now happy to say that all that has changed with the descent of the dollar and the relative stability of the market compared to other countries. Now, a large percentage of buyers are indeed foreign.

In one weekend I took out buyers from Iran, London and Italy. I have recently closed deals with buyers from Venezuela, Mexico and the UK, with one common trait - they have all been cash buyers. Florida leads the country with international buyers. Existing home sales were up 45% in Miami Dade County in December compared to December 2008.

Most analysts expect sales to pick up even more in the Spring of 2010. This could be a once-in-a-generation opportunity for real estate investment.

Homebuyers Eyeing Florida

A recent TBO.com article shows that potential homebuyers are once again interested in Florida real estate.

According to Realtor.com, the article's information source, 7 of the 10 most searched listings in the country last month were in Florida, and the most-searched home was located in South Tampa. To compile the list, Realtor.com looked at searches within 20% of the national median list price of $209,900. The study was conducted February 15 through February 21.

The top 10 homes with the most hits were located in the following areas (in order):

1. South Tampa, FL
2. Boca Raton, FL
3. Pembroke Pines, FL
4. Denver, CO
5. Orlando, FL
6. Montverde, FL
7. North Fort Myers, FL
8. Orlando, FL
9. Concord, CA
10. Wildomar, CA

Have you noticed an increase in interest of Florida real estate? Why do you think buyers are once again interested in Florida?

Discover Your Dreams April 10 & 11

Coldwell Banker Residential Real Estate associates and their clients across Florida will be hosting open houses April 10-11. It’s the first-ever statewide open house weekend and it’s being sponsored by the 115,000-member Florida Realtors.

Blue balloons, featuring the Realtor “R” in white, will indicate homes that are part of the campaign - from the Panhandle to Key West.

The Florida Open House Weekend comes just before the April 30, 2010, deadline for the federal homebuyer tax credit. If you're buying a home and want to try for the up to $8,000 tax credits, your homes needs to be under contract by April 30, 2010, and close by June 30, 2010.

The open house will offer you a convenient way to see as many homes as you can in one weekend. Sales associates can be part of this fantastic effort to match buyers to their sellers.

Will you be attending the open houses? If so, are you in the market to buy?

Vegas Home Sells with King of Pop History

Carolyn Mullany of Coldwell Banker Premier Realty recently sold a 16,461 square foot estate-style home in northwest Las Vegas that was rented by the King of Pop, Michael Jackson, in 2008.

The 16,461 square foot mansion has seven bedrooms (master is 2,000 square feet), 2 office suites, a theatre, an orchestra loft, an elevator, and a fitness room with a dance floor and dry sauna. The gated home sits on a one-acre lot complete with basketball and tennis courts.

Mullany says the previous owner turned the home over to the bank before foreclosure. Although she wouldn't specifically identify the buyer, she said that a California couple purchased the home for $3.1 million.

What celebrity home would you most want to buy and why?

What Homebuyers Really Want

Homebuyers are seeking more cost-effective features with lasting value, according to a recent survey conducted by Avid Ratings.

The survey shows that buyers are more interested in casual living than extravagant amenities like a home theatre, wine cellar, or pool. According to Paul Cardis, CEO of Avid Ratings, the most desireable home features for 2010 are:

1. Large kitchens with islands
2. Energy efficiency, including energy-efficient appliances, super insulation, and high-efficiency windows
3. Home offices
4. Main-floor master suite
5. Outdoor living space
6. Ceiling fans
7. Soaking tub in the master suite and/or an oversize shower with a seating area
8. Stone and brick exteriors rather than stucco or vinyl
9. Community walking paths and playgrounds
10. Two-car garages, but three-car garages are even more desirable

Several items that were considered desirable in the 2009 survey didn't make this year's list, including a butler's pantry, green flooring and a tankless water heater.

What features are most important to you when selecting a home?

Mortgage after Foreclosure or Bankruptcy?

By Guest Contributor Kari A. Battaglia, Broker Associate, Coldwell Banker Residential Real Estate, Venice office

Many homeowners are finding themselves underwater on their mortgage or unable to make their monthly payment and they wonder how long they will have to wait before they can reapply for a mortgage after a short sale, foreclosure or bankruptcy.

Before making any decisions that may affect you’re your financial future, take a look at some general credit timelines, directly from a Coldwell Banker Home Loans representative.

Chapter 13 Bankruptcy - 2 years from the discharge date or 4 years from the dismissal date

Bankruptcy (all except chapter 13) - 4 years from either the discharge or the dismissal date of the bankruptcy action

Multiple Bankruptcy Filings - 5 years from the most recent dismissal or discharge date is required for borrowers with more than one bankruptcy filing within the past 7 years

Pre-Foreclosure Sale (Short Sale) - 2 years from completion date Foreclosure – 5 years from the completion date

Purchases must be a primary residence with a minimum 20% down payment (in the State of Florida) and a minimum 680 representative credit score. Purchase of a second home or investment property is not permitted.

Limited cash-out refinances are permitted for all occupancy types (roll in closings costs with refinance to lower payment or rate)

Cash out refinances are not permitted for any occupancy type Deed-in-Lieu of Foreclosure - 4 years from the completion date (date deed-in-lieu executed)

Borrower may purchase a primary residence, second home or investment property with 20% down payment (in the State of Florida)

Limited cash-out and cash-out transactions secured by a primary residence, second home or investment property are permitted pursuant to the eligibility requirements in effect at the time

Helpful House Hunting Tips

You’ve decided that because of the tax credit, low mortgage rates and affordable real estate market it’s time to buy a house. There are many things to consider, and FrontDoor.com has compiled a few tips that all future homebuyers should consider before taking the plunge.

• Research the neighborhood. Location truly is the most important thing, so make sure you find a neighborhood that fits your description
• Invest in a professional inspection. Home inspectors can find most underlying problems that a potential buyer might miss which can save the buyer money down the road
• Don’t buy a house for its décor. Unless you are buying the house fully furnished, it will look totally different with your furnishings. Look past a home's interior decorations and make sure the space will accommodate your lifestyle and furnishings.
• Buy a home based on what you need, not what you want. The average person lives in the same home for about nine years, so although you may love the two-bedroom home with the gorgeous new kitchen now, it may not be suitable down the road when your family starts to grow.
• Look at several houses before buying. Potential buyers should walk through at least three homes before making a decision. If you buy a home without comparing it to others in the area you may miss out on a great house!

What other tips do you have for house hunters?

Over 70% of all U.S. Homes are Affordable

According to a recent report from the National Association of Homebuilders (NAHB) and Wells Fargo published on CNNMoney.com, the typical American family who makes $64,000 a year could afford to buy 70.8% of all homes sold in the U.S.in the last quarter of 2009. In the second quarter of 2008 only 55% of homes sold were considered affordable. The NAHB deems a home to be affordable if a potential buyer makes the metro area's median income and wouldn't have to devote more than 28% of their take-home pay to housing costs.

"Favorable mortgage rates and sliding house prices that have now started to stabilize nationally have both contributed to a record year for housing affordability in 2009," said NAHB chairman Bob Jones.

Indianapolis was ranked as the #1 affordable housing; more than 95% of all homes sold there were within the budget. New York was the least affordable market with less than 20% meeting the affordability criteria.

Do you think the majority of homes in your area are affordable? Where would your town rank on this survey?

Luxury Real Estate – Deal or No Deal?

By Guest Contributor Michael Mangold, Branch Manager, Coldwell Banker Residential Real Estate, Ft. Lauderdale SE/Las Olas Offices

The past several months have seen the luxury market start to get traction in the Fort Lauderdale east side market. Buyers are very discerning and will only choose the very best properties for the money, with an emphasis on ocean front and other waterfront properties. If a property is not priced correctly they often will choose not to even preview the home. The Ft. Lauderdale SE and Las Olas offices have closed a number of record breaking properties in the past six months, and each property has been in great condition and priced right for today’s market.

I just read an interesting story in Gold Coast magazine, where the editor was reminiscing about Mr. Gill, the developer of the Yankee Clipper and Yankee Trader hotels and many other properties. When Mr. Gill arrived in Florida in the late 40’s - early 50’s after World War II, he wanted to build and develop. The conventional wisdom at the time? He was told he was too late and that the interest in Florida had passed.

While many luxury buyers pay cash, those who choose to finance will find excellent interest rates as well as great prices. Luxury condominiums are still challenging and require absolute best pricing to move in today’s market. Although confidence is still lacking in much of the market, it seems that astute luxury buyers are not afraid to make a purchase if they perceive that the property is a value.

Sarasota and Atlanta in the Top 15 Places for Boomers to Retire

Over the years, AARP Magazine, has ranked top retirement destinations using a variety of criteria like "The Best Places to Live a Simple Life," and "Healthiest Hometowns." From these lists, CNBC.com has focused on a selection of towns and cities recognized as top places to retire, picking the best and most unique locations from AARP Magazine's overall reviews. The top15 retirement locations are

1. Loveland/Fort Collins, CO
2. Las Cruces, NM
3. Rehoboth Beach, DE
4. Portland, OR
5. Greenville, SC
6. Sarasota, FL
7. Ann Arbor, MI
8. Tucson, AZ
9. Montpelier, VT
10. Honolulu, HI
11. Santa Fe, NM
12. Atlanta, GA
13. Charleston, SC
14. Northampton, MA
15. San Diego, CA

According to CNBC.com, Sarasota is one of the most popular retirement destinations in Florida, the most popular state for retirees. The town was selected because it offers a range of cultural activities including an opera and symphony, a film society and art galleries, and residents have the opportunity to golf, boat, fish or simply relax in the temperate climate. In addition, Sarasota offers 35 miles of pristine beaches, one of which, Siesta Key Beach, was ranked #2 on Dr. Beach's list of America's Best Beaches in 2009.

Retirees looking for a more metropolitan lifestyle may want to consider Atlanta, #12 on the list. The Atlanta Regional Commission estimates that in 20 years, one in five residents will be 60 or older. In the past several years, $500 million has been pledged to build "diverse housing types and pedestrian-friendly walkways” says AARP Magazine. Atlanta also offers affordable home prices — the average price is $129,400, which is far below the national average. The city also serves as the hub for Delta Air Lines, making travel easy and convenient.

What city on the list would be your choice as the best place to retire? What cities do you think should have made the list but didn’t?

The Jupiter Lighthouse Celebrates a Birthday!

By Guest Contributor Judie Wilcox, Assistant Manager,
Coldwell Banker Jupiter/Hobe Sound office

A top our beautiful Jupiter Lighthouse the vista is clear and you can see for miles. Built in 1860, it's celebrating its 150th birthday this year . You can climb the 120 steps to the top to view 360 degrees of the most beautiful water ways and real estate. With miles of pristine, sandy beaches as well as the rocky Blowing Rocks Beach, Jupiter is your destination for water sports, fishing and a quiet town atmosphere. The Riverwalk of Jupiter is adjacent to the Loxahatchee River (Intracoastal Waterway) and is a work in progress that offers walkways, restaurants, water sports and eventually an entertainment area. Jupiter is home to pioneers and celebrities who cherish the charm of this seaside town. You will find great real estate values in the Northern Palm Beaches and especially, Jupiter. Call our office for top drawer service from any of our agents . . . let them tell you why Jupiter is the place!

A Home After the Holidays

Have you ever wondered what happens to the giant Rockefeller Center Christmas tree after the holiday season is over? This year the tree has a much more important job to do when it leaves the city — it's traveling back to its home state of Connecticut to frame a house being built by an affiliate of Habitat for Humanity International.

According to a recent article in the New York Times , the 76-foot high Norway spruce will be sliced into boards and hammered into place to form a 1,250 square foot house. Ms Iveth Bowie, the homeowner-to-be, is so excited that her home will be made from the Rockefeller Center tree she likens the experience to “winning the lottery or a million dollars.” Bowie, her three children and grandchild are expected to move into the home in March 2011.

The 70-year-old tree was on display in the Big Apple from December 2 to January 7. Before being milled it was approximately 40 feet across and weighed 10 tons. This is the third time a Rockefeller Center Christmas tree has been used for a Habitat for Humanity home.

What are some other charitable ways the tree could be used after the holidays?

Take a Jaunt to Jupiter

By Guest Contributor Judie Wilcox, Assistant Manager,
Coldwell Banker Jupiter/Hobe Sound office

Sunrises and sunsets radiate in all magical colors in our Jupiter skies. When you visit our azure blue inlet and peer out over the inland waterway you might have a clue of what drew settlers to Jupiter over 5,000 years ago. That’s right, we do have an incredible history as well as areas of undisturbed beauty. Jupiter is a town of great real estate diversity offering both urban and rural properties and, of course, plenty of waterfront condominiums and homes. Our Coldwell Banker Jupiter and Hobe Sound offices serve both Palm Beach and Martin Counties and have both established roots in the communities. Our agents care about their communities, many serve on local organizations such as the Chamber of Commerce, Boys and Girls Clubs, Maltz Theatre, Hospice and Woman’s Club. Activity in our local Jupiter Tequesta Hobe Sound by our agents is extraordinary — past presidents, committee chairmen, a Humanitarian of the Year and five Realtors of the Year. Our community interest and knowledge of local history prepares our agents to fully serve buyers and sellers. Stop by and have a cup a coffee with one of our agents and learn why Jupiter is #1 with us.

High-Speed Train Coming to Florida

It was announced on Wednesday that Florida will receive a down payment of $1.25 billion toward installing high-speed trains from Orlando to Tampa. According to a January 28 Orlando Sentinel article, the $2.56 billion project could start as early as this year and begin operations in 2015.

As proposed right now, the 160 mph train would start at Orlando International Airport and run along the BeachLine Expressway and Interstate 4, and will have stops at the Orange County Convention Center, Walt Disney World, Lakeland and Tampa. Disney has comitted to supporting the train and has offered up to 50 acres of free land for a train station.

Fares have not yet been determined but a 2002 state estimate said a one-way ticket on the train from Orlando International Airport to Tampa would be $29. People who used the train to commute would receive a reduced price.

If you currently commute on this corridor, would you be willing to give up your car to commute by train? Do you think the train will be used more by local residents or tourists?

Dallas/Fort Worth Markets Hot Again

Homes are selling above list price — but not as distressed properties — in three Dallas/Fort Worth zip codes, according to ZipRealty’s quarterly Home Hunter Report, Q4 2009.

While some of the nation’s “hottest” real estate markets in the country — those where homes are selling above list price — continue to be distressed areas dominated by heavily discounted prices, the Q4 2009 top 10 list revealed some notable exceptions. Homes in Fort Worth’s 76135 zip code sold for an average of 134.65% of asking price. Homes in Rowlett (75089), an upscale Dallas community, commanded on average 110.81% of asking price. Zip code 76001 in Arlington, Fort Worth’s largest suburb, also made the top 10 list. How is the distressed inventory level affecting average market price in your market?