IS REAL ESTATE AN ECONOMIC ENGINE FOR OUR COUNTRY'S ECONOMY?

To All:

Your Brandon, Florida area Realtor here. If you are looking to buy, sell, or RENT a home I am an expert when it comes to  FishHawk Ranch homes for sale or rent, Brandon homes for sale or rent, Valrico homes for sale or rent, Riverview homes for sale or rent, Apollo Beach homes for sale or rent, and Plant City homes for sale or rent.

Rich Kemper

REALTOR, Keller Williams Realty

CDPE - Short Sale Specialist

PCS Military Relocation Specialist

Cell:  813.777.5332

Fax:  813.684.8400

Email:  getrichquick2@aol.com

www.fishhawkhomesforsale.com

http://www.tamparealestate4you.com/

I don’t work from 9 to 5. I work from start to close!

 

There is always news on our housing market. Below is a post by Ron Phipps, the president of the NAR (National Association of Realtors). I have to believe this guy knows a thing or two about the market. Read what he has to say. 

Real Estate is about Jobs, Posted by Ron

February 9, 2011 by NAR · Leave a Comment
Filed under: Fannie and Freddie, Home Ownership Matters, Legislative, Mortgage Interest Deduction, Ron Phipps 

Later this week, the Treasury Department will issue a report recommending changes to the structure of Fannie Mae and Freddie Mac.  This is the latest development in a years-long debate over what the government’s role in housing should be.
As REALTORS®, we know better than anyone else just how vital housing is to families and to our nation.
Fact:  For every additional 1,000 home sales, about 500 jobs are added to the economy.  Those are real jobs that give our families, friends and neighbors a chance to work.
Fact:  Every home purchase pumps $60,000 into the economy.
Fact:  Housing accounts for more than 15 percent of the national gross domestic product.
Fact:  Home owners pay 80 to 90 percent of ALL federal income taxes.
We need to change the dialog.   Critics say housing is a drain on federal resources.  We know better.  Housing is the engine that drives our national economy. Eight of the last ten recessions have ended as a result of robust housing markets.  The other two ended as a result of war spending.  The choice is easy.  America needs a healthy housing market to thrive.
In the days ahead, NAR will be reaching out to Congress and the White House to emphasize the clear connection between housing, jobs and the economy.  Rather than limit support for housing, and the availability of credit, NAR is calling on Congress and the White House to advance policies that will move the housing market back to a healthy 5.5 million sales, where it SHOULD be.
We will be asking lawmakers to:

• Preserve the mortgage interest deduction at current levels.
• Move the credit pendulum to equilibrium, defined by a median credit score of 720.
• Maintain government backing in the mortgage market as part of GSE Reform.

These three steps would help bring the housing market back to a normal level, possibly generating an additional 1 million home sales and 500,000 jobs.  
As the voice for real estate, we hope that Congress and White House gets the message:  real estate is all about jobs.
I invite all of you to engage with us.  Go to Realtor.org/homeownership for the latest information and to see how you can join the movement. — Ron Phipps, 2011 NAR President

THE LATEST REAL ESTATE NEWS FROM KELLER WILLIAMS REALTY! FEBRUARY 9, 2011

February 2011  Market Update Hi, my name is Rich Kemper and I am a full-time real estate professional with Keller Williams in the Brandon, Florida area. I specialize in Brandon Homes for sale, Valrico, homes for sale, Lithia homes for sale, Riverview homes for sale, Apollo Beach homes for sale, and Plant City homes for sale. If you or anyone you know is interested in buying or selling a home in any of theses area I encourage you to give me a call at 813.777.5332 or email me at richkemper@kw.com. You can also visit me on the web at http://www.tamparealestate4you.com/ or at my FishHawk Ranch website which is the community that I live in at http://www.fishhawkhomesforsale.com/. I am also a CDPE - or short sale specialist so if you know anyone who is struggling to stay in their home please pass on my contact information. Keller Williams puts out a monthly real estate report which I will put on my blog monthly, so tune in to my blog if you like the report. Make it a great day!  Gradual improvement in the housing market continues at a steady pace without government support. Six months after two consecutive years of tax incentives for buyers; starting in July 2008 with a $7,500 repayable first-time buyer tax credit, extending to a $8,000 nonrepayable first-time buyer tax credit in January 2009, and ending in June 2010 with the expanded credit to repeat buyers; the market has shown remarkable improvement from the initial drop this past July. With mortgage rates remaining near historic lows and home prices having generally stabilized, economists are expecting further strength in 2011. Consumers are showing some signs that they’re feeling better: a significant boost in the food and services industry implies they are eating out more, vacations are back on the rise as spending on travel and tourism increased 8% in the third quarter, and household net worth has risen notably thanks to a strong stock market even as they continue to shrink their debt. As the economy improves, current stimulus efforts by the government and the Federal Reserve Board are expected to gradually wind down, which typically means rising interest rates. Meanwhile, buyers continue to benefit from historically favorable buying conditions and sellers enjoy increased stability in the market. Home Sales in millions The uptrend in existing home sales activity continued through December, increasing by a substantial 12.3% from a month ago. This marks the fifth monthly increase in the past six months and indicates a recovery that’s gaining a firmer footing. While home sales remained 2.9% below the level seen last year, the market’s upward momentum, despite the absence of the tax credit, is a welcoming sign. Home Price in thousands Home prices softened in December: median home prices edged down slightly to $168,800, 1% below the year-ago level. Contributing to this is a larger share of distressed homes sales which accounted for 36% of sales in December. This is compared to 33% in November 2010 and 32% in December 2009. Prices continue to hold steady and mortgage rates remain historically low, offering favorable buying opportunities. Inventory- Month's Supply in months The surge in home sales and a shrinking inventory pared down the month’s supply to 8.1 months. This is down 1.4 months from November but remains 0.9 months above last year at this time. While still at a relatively high level historically, months of inventory has declined steadily from its peak of 12.5 months in July and is now back to pre-tax credit expiration levels. Source: National Association of Realtors - December housing data released Janurary 20. Interest Rates Mortgage rates are inching up but remain historically low. This trend continues to support home buying, as it translates to significant savings for buyers. As overall economic recovery remains on track, rates are expected to rise to keep inflation in check. Type Rate 30 year fixed 4.81% 15 year fixed 4.08% 5/1-year ARM 3.69% 30 year average for a 30 year fixed rate mortgage 8.9% Source: Freddie Mac, Rates as of Feb 7 . This Month's Video Topics For Home Owners, Buyers & Sellers   ‘Anti-Flipping’ Waiver Extension In 2003 the Federal Housing Administration (FHA) feared that flipping homes was the cause of the skyrocketing home prices throughout individual neighborhoods. Because of this, the FHA no longer approved property loans that were resold within 90 days of the original purchase, with the exception of foreclosures owned by government sponsored enterprises (GSEs) such as FHA, Fannie Mae, and Freddie Mac. The anti-flipping rule is designed to help protect the FHA’s mortgage insurance program and federally chartered financial institutions from losses. In February 2010, the FHA initiated a one-year suspension on the regulation that prevented “flippers” from purchasing single-family homes and releasing them into the market within 90 days. Since then, the FHA says it has insured 21,000 loans that had exchanged hands within the previous 90 days. The loans are worth more than $3.6 billion and would not have qualified for financing before suspension. An analysis of these loans suggest they do not present a greater credit risk than other loans, which lent support to the suspension’s extension.  The government sent a notice to banks in mid-January of 2011 in which it announced the extension of the waiver through the end of the year. According to FHA Commissioner David Stevens, the purpose of the extension was to accelerate the resale of REO properties in neighborhoods where there is a high rate of foreclosure. This will facilitate the purchase of homes that have recently been “flipped.” As a result, foreclosed properties will be moved off the market faster, reducing the amount of vacant homes in neighborhoods throughout the United States. Limitations considered by the FHA consist of the following: 20% Rule. If resale is higher than 20% of the original price, one must show proof of justified price. For example, if a $200,000 house is purchased and the resell price is $245,000, the house must undergo additional underwriting guidelines, which is considered a double appraisal. Title Hold. No simultaneous closings are allowed when the seller holds a property. In other words, back-to-back, same-day closings to an FHA end-buyer is prohibited. Short-term Funding. Investors must come up with short-term funding of the 30-to-60-day variety if their desire is to buy/fund and in order to sell to an FHA end-buyer. Previous Flips. A property cannot show signs of prior flipping activity. If so, the FHA has the right to object. Transactions at Arm’s Length. Transactions must show no identity of interest between the buyer and the seller or other parties that participate in the sale of a property. Overall, this will help lower holding costs for investors/flippers allowing them to continue flipping more properties. In return, this will help bring more desirable homes to the market for first-time home buyers. Source: Inman News, ReatlyTimes.com	Contact me, your local real estate expert, for information about what's going on in our area. Rich Kemper 813.777.5332 getrichquick2@aol.com http://www.fishhawkhomesforsale.com/ http://www.tamparealestate4you.com/
Brought to you by KW Research. For additional graphs and details, please see the This Month in Real Estate PowerPoint Report.  The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources.  You should not treat any opinion expressed in This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion.  Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind.  All information presented herein is intended and should be used for educational purposes only.  Nothing herein should be construed as investment advice.  You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.  All investments involve some degree of risk.  Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate.

ARE INTEREST RATES ON THE RISE?

Here is the latest chart on interest rates from Bankrate, Inc. Most of us are stuck in our homes upside down, but there are a fortunate few out there that are just entering the market as first time buyers. And there are investors and renters that are waiting for the right time to buy. There are many factors, some personal, that help people choose when to make a home purchase in the current market. Some of us follow home prices and the prices continue to drop, but recent sales show a growth in the number of sales. but what about interest rates? Are interest rates something to whatch and help make a decision as to when the time to buy is? Absolutely! A minor increase in interest rates can have a measurable difference to your mortgage payments. I love bars and graphs verses just stats because stats show a picture over time. The trend I see is that interest rates are starting to inch up. We all know that can't stay where they are forever. It would be nice, but not realistic. I guess my comment about the graph is that if you are considering purchasing a home now may be the right time while prices are low and interest rates are still low when compared to the past 10 or 20 years. When I graduated from college and bought my first home the interest rate was at 9%. I just helped a couple purchase their first home and their mortgage rate was 4%. I told them they wouldn't understand how low 4% is until they have lived a while and understand where interest rates have been historically. 

Anyway, if you or anyone you know is interested in buying a home in the Tampa Bay area give me a call at 813.777.5332 or email me at RichKemper@kw.com. I specialize in the Brandon area which includes Brandon, Valico, Lithia, Riverview, Apollo Beach, and Plant City. I have a website for the community I live in, FISHHAWK RANCH or if you are interested in the other areas like Brandon, Valico, Lithia, Riverview, Apollo Beach, and Plant City the visit MY OTHER WEBSITE.

If you are an investor or thinking about becoming one and would like a FREE list of bank owned homes in the area send me an email at RichKemper@kw.com and I will send you a list! 

. 

Rich Kemper

REALTOR, Keller Williams Realty

CDPE - Short Sale Specialist

PCS Military Relocation Specialist

Cell:  813.777.5332

Fax:  813.684.8400

Email:  getrichquick2@aol.com

www.fishhawkhomesforsale.com

http://www.tamparealestate4you.com/

I don’t work from 9 to 5. I work from start to close!

HAVE YOU HEARD OF FISHHAWK RANCH?

FISHHAWK PROPERTIES FOR SALE/RENT

Hi, my name is Rich Kemper and I am a realtor with Keller Williams Realty. I am also a homeowner just like many of you, and I live in the wonderful FishHawk Ranch community. If you are looking for a wonderful community to live in then perhaps FishHawk may be a community you want to look at. I specialize in FishHawk homes whether it be FishHawk homes for sale or FishHawk homes for rent. Below are some links in case you want to find out more about the community.

Fishhawk Ranch, was voted Best New Home Community by the Tampa Bay Builders Association, is a master-planned community developed by Newland Communities. Fishhawk Ranch is located in southeast Hillsborough County, about 25 miles east of downtown Tampa, and is comprised of 3000 acres and is bordered by 2000 acres of county owned nature preserve land. It’s been my home since 2005 and I would love the opportunity to show you around one of the most wonderful communities in all of Florida! If you are looking for “A” RATED schools this community has them at the elementary, junior high, and high school levels! If you are looking for FishHawk rentals or a FishHawk homes for sale please free to contact me directly at 813-777-5332 or you can email me at RichKemper@KW.com and I will sed you a list of available properties.

Please visit my FishHawk Ranch website at http://www.fishhawkhomesforsale.com/  

Amenities include:

Park Square Town Center, a 30,000 sq ft of office and specialty shop space that has dancing fountains that the young ones love to play in, and a large lawn area where families gather on the weekends for free live concerts, shows, and special events depending on the time of the year.

Walking Trails: Over 30 miles of community trails to run, walk, or ride your bike. The trails weave throughout the community and are scenic with creeks, ponds, plant life, wildlife, and educational markers along the trails.

 Aquatic club: A competition sized swimming pool, a lagoon pool with a water slide, and a beautiful clubhouse than can be reserved for parties.

Osprey Club: A clubhouse that includes a state-of-the-art theatre with stadium seating, a nice gym, and a Junior-Olympic swimming pool and children's water playground. Next to the pool are lighted tennis and basketball courts and a playground.  

Palmetto Club: A nice reception hall and ballroom perfect for weddings, anniversary parties, and special events. Additional features include an outdoor veranda, garden areas, a conference room, and a catering kitchen.

 Make it a great day!

WHAT IS A SHORT SALE ANYWAY?

WHAT IS A SHORT SALE ANYWAY?

As a realtor, I am very familiar with what a foreclosure home is. In fact, I have CDPE designation which stands for Certified Distressed Property Expert. As foreclosures have been in the news for years now I thought most everyone was familiar with the term, but just the other day I had a home owner on a listing appointment ask me "what does foreclosure actually mean anyway?" I thought I would write a blog about it and try to explain in some basic terms for those who are interested.

We have banks and other lenders who loan money to people to buy real estate. The person who borrows the money promises legally to pay a specific amount of money each month for a set period of time or until the loan is paid off. This is called a mortgage and I think everyone is familiar with the term. It's when someone defaults or stops paying the monthly mortgage that the wheels of foreclosure are set into motion. State laws are different so I don't want to get into time-frames other than to say that once you stop paying your mortgage, after a few months the lender starts building its case to foreclose on the property.

There are two terms thrown around out there, one is what is called a SHORT SALE and the other term is called a BANK OWNED HOME or sometimes called an REO. Today’s blog is about SHORT SALES.

What is a short sale?

A short sale is when the lender agrees to take less for the home to satisfy the note than what is owed on the home. Here is an example. Let's say you bought a home 3 years ago for $225,000.00 and you owe $200,000.00. You were making your payments until three months ago when you lost your job....(there are many real people out there suffering from this). With things not getting any better and your reserve funds running out and the lender sending you letters that they are starting the foreclosure process you decide you must sell your home, so you call a realtor. You are given the bad news that your home is only worth about $150,000.00. A good realtor is now going to become a consultant and explain your options and advise you to speak with a lawyer to decide if you are a short sale candidate or if a foreclosure would be your best option. For the sake of this blog you a short sale candidate. So, we put your house on the market at a fair market or just below fair market price. We wait until we have an offer (in most cases) and then we go to your lender with our offer and ask if they will approve a short sale. Let's say the offer is $140,000.00 leaving you $60,000.00 of paying off your mortgage note. If they approve the short sale what they are saying is that they will let you sell your home for $60,000.00 less than what you owe them...thus the term SHORT SALE...it's being sold short of what is owed. There is more going on than this, but this is a simplistic way to at least understand what a short sale is. I'm sure you want to know what does it cost an individual who short sales his home because the bank isn't just going to say oh well, we understand you had some personal issues. No, there is a cost and again speaking in general terms, you take a hit to your credit or beacon score and there is a real possibility that the lender will ask you to sign a promissory note for some amount of money. The good news is that in 2 years as long as you work on restoring your credit and don't have any other issues with paying creditors are eligible to get back into the housing market and buy a home again!
My next blog will be on the other type of foreclosure which is when the bank takes your home from you. Stay tuned and questions are always welcome!

My contact info and websites are listed below. See me on the web at http://www.fishawkhomesforsale.com/

PROMISING STATISTIC FOR HOUSING MARKET!!! 2/2/11 SALES ARE UP FOR 6TH MONTH IN A ROW!

As a real estate agent I am always interested in the most recent statistics on the housing market. But not only real estate agents are interested in the most recent statistics and trends in the real estate market. Anyone who owns a home is interested in where the maket is and where it's going as most of us are upside down in our homes and can't move even if we wanted too! Click on the link below to watch a video sent to me in my email this morning 2/3/11 from NAR (National Association of Realtors). 

   NAR VIDEO ON LATEST REAL EASTATE STATISTIC

DON'T FORGET ABOUT THE ROAD RACE THIS WEEKEND FEBRUARY 5, 2011

For all of you runners out there, this is a nice well established race that is run very well! It's the 14th Annual FishHawk Ranch Road Race  and is is taking place on Saturday February 5, 2011. The races begin at 8 a.m. and 9:30 a.m. at Park Square, and will consist of a chip-timed 5K, 10K and a one-mile kid’s race. The new chip-timed races are pretty cool!. You attach the chip to like your shoe lace etc. and this makes the times exact. Pretty cool technology! What will they come out with next. Last year there were about 800 runners and it grows larger each year.
If you are a runner you have to come and try this race out. Race shirts are guaranteed for the first 500 adults and 100 kids registered and the cost to enter is $30 for adults and $15 for kids. If you want to go ahead and register, visit http://www.fishhawkranch.com/ where you can register online or print out the registration form. With the recent increase of new home construction in the area parking is a bit harder to find, but have no fears, runners and visitors can take advantage of parking available at the town center as well as the Palmetto Club and the Aquatic Club.
 Come on out and visit our wonderful community. If you are interested in moving in to our community and just want to look at what is for sale sale go to my website at http://www.fishhawkhomesforsale.com/ and look around or give me a call. I specialize in FishHawk homes for sale, Lithia homes for sale, Riverview homes for sale, Apollo Beach homes for sale, Valrico homes for sale, Brandon homes for sale, and Plant City homes for sale.

Rich Kemper

REALTOR, Keller Williams Realty

CDPE - Short Sale Specialist

PCS Military Relocation Specialist

Cell:  813.777.5332

Fax:  813.684.8400

Email:  getrichquick2@aol.com

www.fishhawkhomesforsale.com

www.tamparealestate4you.com

I don’t work from 9 to 5. I work from start to close!

NEW LISTING IN PLANT CITY FLORIDA! AWESOME POOL HOME!

Hi, Rich Kemper here....your full-time real estate professional. I live in FishHawk Ranch, but I do business in more than just my neighborhood. I am also an expert in the Brandon, FL. area, which includes Lithia, Valrico, Riverview, Brandon, Apollo Beach, and Plant City.

If you know anyone who is interested in listing their home or interested in FISHHAWK HOMES FOR SALE , Lithia homes for sale, Valrico homes for sale, Riverview homes for sale, Apollo Beach homes for sale, or Plant City homes for sale. please have them give me a call or email me. You can also visit my other website listed below. My contact information is below.

I just took a listing in Plant City, home of the Florida Strawberry Festival and it is a beautiful home. Click on the link to check it out! 07-Res E-mail w Agent Photo

If you are in the military, a teacher, a police officer, or a fire fighter you need to check out MY PROGRAM. It my way of saying thanks for all you do.

 RICH KEMPERREALTOR, Keller Williams Realty
PCS - Military Relocation Specialist
CDPE - Short Sale Expert
813.777.5332 CELL
E-mail: getrichquick2@aol.com
www.fishhawkhomesforsale.com
www.tamparealestate4you.comI don't work from 9 to 5....I work from start to closing!