Orlando Real Estate News and Events

Four Tax Credits!

2009-05-17T12:46:00.001-04:00

Four Important Tax Credits
Being a real estate professional is much more than just selling and listing homes; there's emotions involved, relationships are created and people look to you for advice and expertise. Being we're only a couple days away from the painful April 15th tax deadline... why not share some last minute tax tips with your customers; information on credits they might not be aware of!So what's a tax credit? Essentially it's a dollar-for-dollar reduction of taxes owed. Some credits are even refundable. Listed below are four very popular credits you should consider before filing your 2008 Federal Income Tax Return. Share this great information with clients and build on your existing relationship.(1) The Earned Income Tax CreditThis is a refundable credit for low-income working individuals/families. Income and family size will determine the credit. For more information, please see (IRS Publication 596, Earned Income Credit).(2) The Child and Dependent Care CreditThis credit can be applied based on total expenses paid for the care of your qualifying children under age 13, or for a disabled spouse or dependent, to enable you to work or look for work. See (IRS Publication 503, Child and Dependent Care Expenses).(3) The Retirement Savings Contributions Credit (aka Saver's Credit)This credit is designed to help low and moderate income workers save for retirement. Qualification is pending if income falls below a certain limit and you contribute to an IRA or workplace retirement plan such as a 401(k). See (IRS Publication 590, Individual Retirement Arrangements).(4) Heath Coverage Tax CreditThis credit pertains to those individuals who are receiving certain Trade Adjustment Assistance or pension benefit payments. Look to see if you are eligible for the Health Coverage Credit when you file. There are so many more credits available to taxpayers that are either not understood or we just never knew about. Since many qualifications and limitations apply to various credits, it is advisable to check tax form instructions, listed publications and additional information that is available on the IRS Web site at IRS.gov.

Jason E Taft
321-662-1368
AgentinOrlando.com

Orlando updates.

2009-05-11T19:14:00.002-04:00

Hey Friends!

Here comes Summer! Not only has the weather here in beautiful Central Florida reminded us that the warm Summer months are on the way, the real estate market is heating up too! April was a promising month and we are looking forward to the market strengthening even more through the Summer as it usually does, while many families will again be looking for new homes during the school vacation...let’s be ready for them! Please consider joining us for the Summer New Home Festival and Trade Show in early June it is shaping up to be a really great event! For more information please contact me!

Jason Taft/REALTOR
AgentinOrlando.com
321-662-1368

New Home Sales Data Show Encouraging signs!

2009-04-29T22:28:00.001-04:00

New home sales data show encouraging signs
New reports raise hope slides in housing, manufacturing nearing endWASHINGTON - New home sales and demand for big-ticket manufactured goods both were better than expected in March, raising some hopes that the long slides in housing and manufacturing are slowly coming to an end.New home sales fell 0.6 percent last month to a seasonally adjusted annual rate of 356,000 from an upwardly revised February rate of 358,000, the department said. Economists surveyed by Thomson Reuters expected a sales pace of 340,000 units.February’s results were 6 percent higher than originally reported, but home sales last month were down nearly 31 percent from March 2008.The housing results fanned optimism that developers have slashed prices and construction enough that sales have finally hit bottom. Prices, however, are likely to remain weak for months as builders continue to clear out their stock of unsold homes.

Jason E Taft
Agent in Orlando! AgentinOrlando.com
321-662-1368

10 Strategies To Improve Your Customer Service.

2009-04-11T11:44:00.001-04:00

10 Strategies to Improve Your Customer Service
Almost all real estate agents want their clients to have a great customer service experience. The difference between good and great is often minor. If you want to upgrade the experience your clients have, here are ten suggestions...(1) Connection is the name of the gameMore than anything else, your real estate clients want you to hear their needs and be responsive to those needs. This means asking questions about what matters to them, exploring how they live their lives, and never trying to run your own agenda. When it comes to a great customer experience, making your clients the center of your universe is a winning strategy.(2) Start on time and end earlyPeople differ in their attitudes toward time. Some are more likely to feel they have limited time and are more likely to become angry when appointments run late. To address this difference, always tell your clients your appointment will take 20-30 minutes longer than you anticipate. By allowing extra time, you avoid having to apologize about traffic or other delays. You also seem more efficient. Best of all, your clients are delighted to finish early.(3) Demonstrate you understand their smallest needsBefore taking buyers out to view property, determine what types of drinks and snacks they enjoy. Have these available. If they are Starbuck's fans, pick up their favorite coffee drink and have it waiting when they walk into your office. If your clients have children, give the kids a coloring book or some games to keep them occupied during your appointment.(4) Be a conduit of informationWhether your sellers are relocating or you have out of area buyers, be a resource for neighborhood and Chamber of Commerce information. For relocating sellers, personally contact several relocation agents. Interview each agent to determine who is most competent. Send the other real estate agent digital pictures of the sellers' present property. For buyers, create a welcome kit packed with information about local vendors, schools, places of worship, recreational activities, etc. In either case, update your clients a minimum of once weekly in terms of new listings, sales, and changes in interest rates.(5) Collect available virtual tours and burn them on a diskThis is a time saver for both you and your clients. Rather than taking your sellers out to see the comparable sales, give them a CD or travel drive that shows competing listings. For relocation buyers, sending them links to various virtual tours will dramatically reduce the number of homes you will have to show. It will also help you refine your search parameters more quickly.(6) Dig for historyWhy is a seller moving? How long has the property been listed? Is there an urgent reason the buyer or seller must take action now? This information will help your negotiate more powerfully on behalf of your clients. The more you know, the more powerful you will be at the negotiation table. The better the price, the happier your clients will be with their customer experience.(7) Be at your bestIf you're tired, stressed out, or feeling grumpy, your clients will not have a great customer experience. Clients enjoy working with positive, energetic, and knowledgeable agents. This also means you are well groomed, your car is sparkling clean, and that you always act professionally. Avoid chewing gum, using foul language, or referring to religion, politics, or other controversial topics. To the best of your ability, avoid too much caffeine, eat well, and make sure you have plenty of sleep.(8) Give your clients a stellar office experienceIs the receptionist in your office pleasant to clients? Is the reception area clean and attractive? How does the rest of the office look? Are the other agents the high quality professionals you would want your clients to meet? If there are problems with your receptionist, route your calls directly to your phone. If the office is less than stellar, meet clients at their home, for coffee, or at your home office. If the agents and the office do not make you proud, consider finding an office that does.(9) Outline options and then let your clients decideRather than telling your sellers the price where they should list their property, give them the best information about current market conditions, how long it takes to market the property at higher price points, and then let them decide. The same is true when negotiating offers. Outline options and let the clients decide their course of action.(10) Focus on the customer experience, not the outcomeLet go of any attachment you have to the outcome. When your focus is on obtaining your goals rather those of your clients, you will not provide a stellar customer experience. In contrast, when clients realize you only want the very best for them, you create the type of experience that converts them into raving fans who will refer you business for years to come.

Jason E Taft/ Agentinorlando.com your Florida Real Estate Resource!

Existing home sales Jump!

2009-03-23T13:02:00.001-04:00

Existing-home sales unexpectedly jump
People were buying homes last month.Existing-home sales showed a surprising 5.1% jump in February, the National Association of Realtors said in a report today, the biggest percentage gain since July 2003.The unexpected increase was partly due to "deep price discounts," the NAR said, and was well above economists' expectations of a 0.8% to 0.9% decline. The median sales price fell 15.5% to $165,400 from February 2008.Inventories of unsold homes rose by 5.2% to 3.8 million, which represents a 9.7-month supply

Jason Taft
AgentinOrlando.com

Impact on Real Estate Sales by the 2009 Stimulus Plan

2009-03-21T01:22:00.001-04:00

The 2009 Stimulus plan has been signed into law, and it can significantly benefit home buyers who purchase in the next 9 ½ months. The new $8,000 tax credit for first time home buyers may help to jumpstart the real estate market nationally. Unlike a previous tax rebate for first time buyers, passed last year, this new tax credit will not have to be repaid unless the home is sold within the first three years. A first time buyer will be allowed to take up to 10% of the home purchase price, or $8,000, whichever is less, off their taxes. In order to reinvigorate the stalled housing market, this program has a time limit. The home must be purchased prior to December 1st, 2009. The original program, as written in July of 2008, allowed a first time home buyer to deduct up to $7,500 from their taxes (10% of the cost of the home up to $7500). The original program had an income restriction which limited this program to individuals with adjusted gross incomes of $75,000 per year, or $150,000 for a couple. There were phases out above those caps to $95,000 and $170,000 for a single or couple.One of the shortcomings of the original program was that there was a strong recapture of the tax break. The buyer would have to pay back 6.67% of the credit each year, or $500, each year to be repaid over 15 years. If the home were sold prior to the 15 years, the balance would have to be repaid.Under the new program, the maximum credit has been raised to $8,000. The income restrictions are the same as the original plan, and it still only applies to first time home buyers. However, there is no repayment of the tax credit for any first time buyer purchasing a home between January 1st and December 1st, 2009. If the home is sold within three years of the purchase, the owner must repay the entire amount of the credit, but otherwise it doesn’t have to be repaid.With interest rates being at historic lows, home prices significantly reduced from several years ago to more affordable levels, and the prospect of getting that huge check back from the IRS, there may never again be such a perfect time for first time home buyers. Additionally, if first time buyers come back into the marketplace to take advantage of this program before it ends, they may drive multiple transactions. An increase in the number of first time homes sold will lead to home owners being able to move into second or move-up properties, and owners of move-up properties may move into larger homes. Theoretically, one first time buyer can drive the sale of two, three or more homes.According to Marc Lucarelli, a real estate agent with Century 21 Keim Realtors in Bethlehem, Pennsylvania, "There has not been a better time to buy than now." Marc points out that "Another benefit of the 2009 Home Buyer Tax Credit is that it allows the homebuyer to spread the tax credit over a two year period. Which means you can take $4,000 on your 2009 tax return, and the other $4,000 on your 2010 tax returns. That's like claiming two extra kids for two years without having to feed them."According to the National Association of Home Builders, the law defines a first time home buyer as a home "buyer who has not owned a principal residence during the three-year period prior to the purchase." If the buyer is married, both spouses must meet the criteria. Owning a vacation home or a rental property that is not used as a principal residence may still allow a buyer to qualify for the purchase.Other plans designed to improve the lagging housing market include the raising of loan limits to $727,000 in high cost areas and over $50 billion in foreclosure mitigation. It is expected that Geitner’s Treasury plan for the second half of the TARP and TALF funds will be used to slow down foreclosures through a government guarantee and drive down interest rates by buying billions of dollars of mortgage paper.Loren Keim is the President of Century 21 Keim Realtors in Allentown, Pennsylvania and he is the author of several books including the best selling “How to Sell Your Home in Any Market”. To hear more from Loren, check our his promotional YouTube video: http://www.youtube.com/watch?v=kn8VNXpLsWg

Jason Taft / AgentinOrlando.com