If you have a Tampa home for sale and it's sitting vacant, it's a perfect target for vandals. The signs are obvious, such as uncut grass and lights that never come on. In fact, a vacant house doesn't just look vacant; it feels vacant.

Vandals aren't the only problem for a vacant Tampa home for sale, however. The other problem is that a vacant home usually sells for less and sits longer than a well maintained, occupied home. So what's the solution?

Well, if you live close by, you can visit the home, cut the grass, turn the lights on and keep it maintained. However, if this is more trouble than you'd rather go through, there's another option - a live-in home stager.

You've probably heard or read a slew of information about home staging. If you haven't, home staging is the practice of making a house look its best and has been proven to bring consistently higher prices for homes. Home stagers are trained to stage a house in the most attractive way to entice buyers.

Benefits of Using a Live-In Stager

A live-in home stager is slightly different from a traditional home stager, but provides several benefits to homeowners wishing to sell their empty houses:

• No vacancy, no vandals – An empty home brings vandals. However, people are much less likely to vandalize a home that is well maintained and occupied. A live-in stager, as the name implies, stays in the home until it’s sold.

• Home staging and maintenance – One of the worst turn-offs for a potential homebuyer is to walk up a lane surrounded by tall, uncut grass into an empty, cold home. A live-in stager brings their own furniture to turn that empty home into a visually-appealing, warm living space. They cut the grass and keep the home looking beautiful until it’s sold.

• Residual income – Best of all, you aren’t paying them; they’re paying you. Now, obviously they won’t be paying full rent. In general, live-in stagers pay 25% – 40% of the normal rental rate, or instead many pay the insurance, utilities, landscaping and more. However, a vacant home isn’t doing anything but sitting there until it’s sold.

If you've been trying to sell a vacant Tampa home for sale, and it's still on the market, try a live-in stager. It may be the best decision you make this year!

If you're trying to sell your home, I can help. Call me at 813-469-3163 or email me at Jeff@MakeTampaYourHome.com for more information.

Thousands of potential buyers of homes for sale in Tampa are now homeowners, thanks to the first-time homebuyer tax credit. You could be eligible for a tax credit if you bought a home in 2009 or plan to buy one before April 30, 2010. But which one are you eligible for?

If you have two or three hours to spend reading the information about the homebuyer tax credit, you'll be able to figure out if you're eligible. But, most people don't have the time or patience. To shorten your learning curve, here are a few tips, pointers and frequently asked (and answered) questions about the tax credit:

Three Kinds of Homebuyer Tax Credits

There are actually three kinds of tax credits:

1. The original first-time homebuyer tax credit, enacted in 2008, covers the homes for sale in Tampa that went off the market between April 9, 2008 and June 30, 2009. Rather than being a true credit, the money received is actually a 15-year, interest-free loan. In other words, it has to be paid back.

2. The second tax credit, raised from a maximum of $7,500 to $8,000, doesn't have to be paid back. If you bought a home between January 1, 2009 and November 30, 2009, you may be eligible.

3. The third homebuyer tax credit, enacted in November 2009, is actually an expansion and extension of the second credit. It extends the deadline of November 30, 2009 to April 30, 2010 and expands the credit to include long-term homeowners who want to buy a new residence.

Tax Credit Qualifications

Just because you buy a home between April 9, 2008, and April 30, 2010, doesn't mean you automatically qualify. Each homebuyer tax credit has its own eligibility requirements. For instance, the home has to cost less than $800,000, if bought after November 6, 2009. Long-term owners have to have lived in the same home for five consecutive years of the past eight. There are also income requirements, as well as other factors.

Automatic Ineligibility

To receive the homebuyer tax credit, there are a few things you absolutely cannot do. For example, the home you buy has to be a principle residence, which means it's the one you live in most of the time. You can't buy it for business. As well, the home you buy has to be in the U.S.

Another "can't do" is selling the home or converting it to rental property. You have to live in the home as your permanent residence for at least three years. If you don't, Uncle Sam will want the money back.

There are many great homes for sale in Tampa, and one of them might just be your dream home. However, if you plan to purchase and claim the homebuyer tax credit, make sure you know the facts first.

Have questions about the homebuyer tax credits? I can help. Call me at 813-469-3163 or email me at Jeff@MakeTampaYourHome.com for more information.

If you're getting a mortgage on a home, your lender will require an appraisal. This is performed by a licensed appraiser who evaluates your home and determines its value. Here is a guide to your Tampa home's appraisal terms.

• Age: The actual age of your home is how long since your home has been built. The effective age is the adjusted age of your home based on improvements and repairs.
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• Adjustments: Comparison Tampa homes are usually not exact replicas of your home. The appraiser will make adjustments for things like premium views or swimming pools to bring the home values closer together.
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• Appraisal: This is the estimated value of your home based on the appraiser’s documentation.
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• Comparison approach: A type of appraisal in which your home is compared with others in your area. Most appraisers use this approach because the market determines what your home will sell for.
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• Cost approach: A type of appraisal in which your home is valued based on how much it would cost to replace it if it was destroyed. This is typically used on newer constructions.
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• Depreciation: Depreciation is a loss in value due to age or condition.
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• Easements: Your electric company or local government may have an easement, or right to use your land.
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• Encroachments: When you or your neighbors have items like fences resting on each other’s property, it is called encroachment.
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• Market value: This is the highest price you could expect to get for your home under normal circumstances.
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• Remaining economic life: This is the time from the appraisal when improvements become useless or valueless.
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• Subject property: Your property is called the subject property.

Let me help you through the process of buying your next Tampa home. Call me today at 813-469-3163 or email me at Jeff@MakeTampaYourHome.com for more information.

FHA is doing away with the condo review process as it now stands.

Starting February 1, 2010 there will be two ways for a condo complex to get approval for FHA lending known as HRAP and DELRAP.

HRAP stands for HUD Review and Approval Process. The HOA has to put together information and send it into HUD. The problem of course is in getting the Homeowner or Condo Association to actually compile the information and submit it to HUD and of course HUD like most government agencies is not exactly quick on their part.

DELRAP stands for Direct Endorsement Lender Review and Approval Process. Under this approach the lender endorses the condo complex. They must prove to HUD that the condo complex should be approved, but the kicker is that the endorsing lender then becomes responsible for all loans no matter who funds the loans.

What is the chance that any lender will ever endorse a condo complex if they are totally responsible for all loans given? Likely none.

As a Realtor it will be extremely important starting February 1st to find out whether HRAP or DELRAP approval has been received. Imagine the time you and your buyer could be wasting if it has not been received or even been applied for.

If I can assist you in finding the right Tampa home for sale please feel free to contact me at 813-469-3163 or Jeff@MakeTampaYourHome.com.

Have you ever wondered what the unemployment or foreclosure rate is in your or another state?

CNN has an excellent interactive map that shows these rates for each state.

Of course this is also a good way to see why home prices have declined so much in some areas, and why other areas are much more stable.

With a little common sense or research we can usually figure out why one state has a very low foreclosure rate while another has a very high rate.

We know for example that in Michigan jobs have been lost at an alarming rate since that is where so many auto companies are, Florida had a massive number of people buying vacation and homes as an investment, and of course many states had massive increases of values during the high times, while some states did not share in the large increases and therefore are not seeing the large losses in value which of course has made their market much more stable.

It is very interesting to see how states such as Florida have an 18.81% foreclosure rate, while a state such as North Dakota's is only 2.36%. Likely North Dakota did not see large increases of values and also did not see the investor and vacation home purchases during the high times as Florida did.

Are you thinking of buying a home in the Tampa area, whether a foreclosure, short sale or normal sale? Now you can search for homes just like a Realtor does with your free Listingbook account. Listingbook allows you to change your search criteria anytime and sends you one daily report with new listings or any price changes.

For any assistance or for questions feel free to contact me at 813-469-3163 or Jeff@MakeTampaYourHome.com.

As has been well advertised the $8,000 first time homebuyer tax credit was extended until April 30, 2010 and a new $6,500 repeat homebuyer tax credit was added.

Last year, homebuyers were allowed to e-file and would usually get the refund back within a few weeks.

Due to much fraud involved in claims for the tax credit such as IRS agents, more than 500 hundred people under 18, one of which was a child who was four years old, and repeat homebuyers claiming the credit illegally, buyers will now need to send in paperwork including form 5405, proof of residency, a drivers license and a signed mortgage statement.

The IRS took two months to create the form 5405 and now state that the refund will take approximately four months for the homebuyer to receive once all forms and documentation are received.

The IRS, the Obama Administration and Congress took a lot of heat about not having any checks and balances and allowing more than $500 million in fraud to take place, so it is understandable that they are playing it cautious now.

Hopefully, the government will go after the fraudsters especially the IRS agents who have absolutely no excuse for their actions.

The first time and repeat homebuyer tax credit expires on April 30, 2010 and the closing must occur on or before June 30, 2010 so if you are looking to buy a home, now is the time to do so. There is not much time left to purchase a short sale, though there is still plenty of time for bank owned foreclosures and normal sales.

Please contact me at 813-469-3163 or Jeff@MakeTampaYourHome.com with questions or for assistance.

Once again, the clock is ticking for first-time home buyers to get a home for sale in Tampa before the tax credit runs out. Extended in November, 2009, the first-time buyers' tax credit is set to expire in April, 2010, and there are no plans for another extension.

What does this mean for you? If you're a home seller, it's time to look over your home for sale in Tampa, make sure all your t's are crossed, i's are dotted and that you've done everything you can to put your home at the front of the buying line. If you're a first-time or repeat buyer hoping to take advantage of the credit, it's time to start looking for your new home; the binding sales contract has to be signed by April 30, 2010.

Making the Buying Process Easier

Many times, the buying process can take forever. Red tape, failing negotiations and more has caused several possible sales to fall through. So, what can you do to make the buying process easier? Here are a few tips:

1. Find out if you qualify for the first-time or repeat buyer tax credit. The home buyer requirements are many. If you can’t afford to buy a home without the tax credit, make sure you qualify.


2. Shop for lenders beforehand. Choosing the right mortgage lender can be a lengthy process, so finding one you want to use before you start looking for a home will cut down on the time it takes to buy the house.


3. Get pre-approved. Getting pre-qualified is the first step in the loan process, but it’s based on an estimate, not verified facts. By getting pre-approved for a mortgage, you know exactly how much you qualify for, and how much house you can afford. Because this is a large part of the buying process, once you’re pre-approved, the lender can expedite the rest of the deal for a quicker closing.


4. Negotiate wisely. Remember that you’re on a time-line and try not to let negotiations with the seller turn into a contest of wills. Yes, negotiate, but make sure your counteroffer on the home is realistic.

Buying a great home for sale in Tampa before the tax credit expires is definitely possible, even with just over three months to go. Following the tips outlined above can make the sale go as smoothly and quickly as possible.

Have questions about the home buyer tax credit? I can help. Call me now at 813-469-3163 or email me at Jeff@MakeTampaYourHome.com.