Move My Realty - Real Estate News

PHONE THIS IN

A recent ruling by the U.S. Tax Court has made it unclear whether business cell phone use is tax deductible. The case involved a self-employed individual and his assistant, and the court said his inability to prove that the phones were used for business purposes disqualified the deductions. In response, the National Association of Realtors has joined a broad-based coalition pushing Congress to clarify the matter through legislation.

Source: Arizona Realtor Digest (07/08) Vol. 30, No. 7, P. 8
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SLEEP ON IT
 
In the spirit of such reality shows as "Date My House" and "Sleep on It," more home buyers are requesting an overnight stay in a home to determine if the property and the surrounding area are a good match for them. For example, Pat Skiffington of Orlando, Fla.-based Keller Williams Classic Realty is orchestrating a sleepover "test drive" in a downtown condominium, noting that the arrangement makes sense if the buyer is from outside the area. While allowing a sleepover can accentuate a home's positive features, Skiffington notes that buyers also will have more time to notice potential flaws. Before agreeing to an overnight stay - which may or may not result in an offer - some experts encourage sellers to speak with their attorneys and insurance companies. Meanwhile, other buyers are spending lots of time in the homes they are considering by arranging to tour them at various times of day and speaking with the neighbors.

Source: Wall Street Journal (07/15/08) P. D7; Hoak, Amy
© Copyright 2008 INFORMATION, INC. Bethesda, MD (301) 215-4688 

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Is the Housing Crisis Over?

Maybe according to this article

"Most people forget that the current housing bust is nearly three years old. Home sales peaked in July 2005. New home sales are down a staggering 63% from peak levels of 1.4 million. Housing starts have fallen more than 50% and, adjusted for population growth, are back to the trough levels of 1982."

- The Wall Street Journal

VETERAN HOUSING

The U.S. House approved a homeless-veterans housing bill overwhelmingly Wednesday, even though the White House may veto it. The bill authorizes $200 million to be used for housing and services, 20,000 rental vouchers per year and $1 million for nonprofit groups to provide veterans' services.

Read the full story:

http://www.floridarealtors.org/NewsAndEvents/n5-071008.cfm

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DON'T BE YELLOW

Many real estate agents refuse to refer a particular contractor or inspector due to a fear of litigation; instead, they simply let clients know where to find these professionals in the Yellow Pages. However, realty experts point out that agents aren't immune from litigation by providing Yellow Pages listings. Clients could, for example, select an inspector who neglects to inform them of substantial flaws in a home and ultimately file a lawsuit against the agent for failing to inform them that more experienced inspectors are available. Experts encourage agents to compile a list of the best inspectors and contractors in their area - even asking them to provide fliers spelling out their credentials - and allow clients to choose from those on the list.

Source: Mortgage101.com (07/08/08) Stone, Barry
© Copyright 2008 INFORMATION, INC. Bethesda, MD (301) 215-4688

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TAKE A SHOT AT IT

In "How to Photograph Interiors When You Barely Know How to Work a Camera," photographer Barbara Lane offers tips for real estate professionals. When windows, mirrors, glass or metals cause bright reflections in photos, for example, agents should shoot from a different angle or turn off the flash if there is plenty of light. Agents can avoid blurry photos by focusing on what they consider the most important item in the shot and pushing the shutter down halfway, which locks in the focus. They can then readjust the shot and that item will remain in focus even if it's not in the middle of the picture anymore. Also, study a scene before shooting to ensure that any flaws - such as lopsided lampshades - will not become the primary focus. In addition, agents should take a mix of horizontal and vertical shots, and shots from different heights, to find the best angle. Finally, agents should invest in photo editing software so they can crop and resize images before posting them to listings.

Source: Realtor (07/08) Vol. 41, No. 7, P. 19; Tracey, Melissa Dittmann
© Copyright 2008 INFORMATION, INC. Bethesda, MD (301) 215-4688

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MARKET WATCH: CENTRAL FLORIDA

University of Central Florida economist Sean Snaith had predicted a recovery starting this summer, but he postponed his turnaround forecast yesterday, suggesting that the economy won't improve until 2009. Housing, however, should begin to recover late in 2008, he said.

Read the full story:

http://www.floridarealtors.org/NewsAndEvents/n3-070208.cfm

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NAR: $5,000 TO NEFAR HOUSING PROGRAM

NAR awarded $39,500 to 13 local and state Realtor associations through its Housing Opportunity Fund grants program. The Northeast Florida Association of Realtors received $5,000 to enhance their Home Ownership Made Easy (HOME) program, which works with employers to create an employer-assisted housing benefit. "These grants help support NAR's mission of advocating solutions to today's critical housing needs, and help position Realtors as leaders in their communities by increasing access to affordable housing and homeownership," says NAR President Dick Gaylord. NAR established the Housing Opportunity Fund - formerly the State and Local Initiatives Fund - in 2006. Grants of up to $5,000 are awarded twice per year. Since the program's inception more than 77 grants totaling nearly a quarter of a million dollars have been awarded to support a wide range of housing opportunity activities.

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GO FOR THE SILVER

At a time when more Americans are living out their golden years in Mexico, Costa Rica, Panama and other countries, U.S. real estate professionals support the creation of a "silver card" visitor visa that would allow foreigners to retire in the United States. The silver card would not make foreign retirees U.S. citizens, but it would give them legal residence in this country. However, they could not hold jobs in the U.S. and would need to submit to a security background check. Realtors Association of the Palm Beaches Chairman John Mike says the silver card would boost the U.S. economy, fueling the housing market as well as the automobile, restaurant, retail, airline and other industries. Even so, critics worry that these foreigners will put a burden on the healthcare industry, and they oppose giving special treatment to one group of foreigners when many others already are waiting for visas. The National Association of Realtors created a presidential advisory group to look into the issue, which spokeswoman Mary Trupo says "is high on our radar screen and we are looking at all the implications."

Source: Palm Beach Post (FL) (06/22/08) Moscoso, Eunice
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