Kite Beach near Ocean Dunes

I used to live in the beautiful community of Ocean Dunes and walk/run the few hundred yards to the ocean 3-4 days per week.  Actually, I would walk to the guard gate at the front of the community and then begin my jog towards the beach where I would take a right to Juno pier or a left to Kite beach.  Living in a community that close to the ocean was a dream come true (I also like to surf occasionally - when I have the time).

While not exactly oceanfront, Ocean Dunes does have its own lake.

Ocean Dunes Lake at Sunset

Now, due to the real estate collapse in Florida, you can once again purchase ocean walkable real estate at really good prices in Ocean Dunes.  The community itself is guard gated for security and includes numerous amenities with the HOA such as a resort like pool, yard landscaping, multiple tennis and basketball courts, cable TV, and building insurance. Click here to see all available homes in the community- to see what I’m talking about.

Ocean Dunes Pool

If you are looking for affordable ocean access living then you need to look at the well located community of Ocean Dunes where you can walk to some of the best beaches in the state as well as well as grocery (Publix) and numerous parks next door.

Ocean Dunes Tennis Courts

Prices now start at $171,00 for 2 bedroom foreclosure units and $175,000 for short sales - see here

Short Sale Deal of the Month - Egret Landing

This property, currently priced at $319,500 is the lowest priced home in the fantastic Jupiter, FL community of Egret Landing.  The home has a great patio entertaining area along with a pool and room for a dog run. The property is centrally located to the beaches and Route 95, as well as the shopping areas along Indiantown Road. Egret Landing is one of the more desirable family communities in the North Palm Beach County area.

I get asked all the time, “How do I get the IRS $8000 homebuyer tax credit?” 1st, you must qualfiy by meeting a few requirements like not owning a home for the last three years and closing by November 1st, 2009.  2nd go to this link and fill out the attached IRS Form…..

www.irs.gov/pub/irs-pdf/f5405.pdf

Below is a snapshot of the form.

Happy Foreclosure Buyers

I took this picture at the closing table of the happy couple. They had just signed the papers on a great fixer upper home in The Acreage in Palm Beach County…on over an acre of land. They paid just under $152,000 plus received 3% of the sales price to help with closing costs.  The home needs a little touch up work before move in, but nothing major.  The backyard has a pond as well…full of happy frogs.

Pond

Outstanding video on who qualifies for the new $8000 home-buyer tax credit from the Federal Government.  The $8000 tax credit is a fantastic incentive for short sale and foreclosure home buyers.  Also, it’s not only 1st time home-buyers that qualify….

The $15,000 tax credit in the Senate version of the stimulus bill was reduced to $8000 and applies only to 1st time home buyers.  However, the $8000 tax credit does not have to be repaid, which makes it better then the existing $7500 tax credit for Palm Beach County buyers. It is a true $8000 reduction on your next tax bill. If you don’t owe that much you get a check back from the IRS for the remainder.  This credit is only available for qualifying home purchasers between January 1, 2009 to December 1, 2009.

There is an income limit to the credit that phases out the credit for single taxpayers with adjusted gross incomes exceeding $75,000 (or $150,000 for married couples filing jointly).

If you sell the home within three years you forfeit the credit or have to pay it back if you already claimed it.

Prediction: If it survives the bailout negotiations, the new $15,000 proposed tax credit for home purchases will motivate buyers to get off the fence and buy.  I am already seeing a spike in activitiy for listings that are priced correctly.  Last week a buyer client lost a deal in Palm Beach County in which they offered over the asking price…just not enough over.  Another buyer offered full asking price on a newly listed short sale and the next day there were four additional offers….three at full asking price.  Homes are definitely selling if they are priced correctly for the market.

The proposed new tax credit for buyers would provide a tax credit of $15,000 or 10% of the purchase price, whichever is less, to the buyer.  The previous tax credit applied only to 1st time home buyers (about 40% of the market) and had to be repaid over 15 years.

There are some outstanding loan opportunities out there. 

Freddie Mac reported today that its latest survey of the mortgage market listed 30 year fixed mortgage rates at an average 5.14%.  Last year the rate averaged 6.17% and this years average is the lowest ever surveyed since the start of the survey in 1971. The Mortgage Bankers Assoc stated mortgage applications increased 48% last week and its survey averaged 5.04% interest rates on 30 year fixed mortgages.

Also, USDA has a loan program that not too many people know about yet.  The ‘Rural Development Guaranteed Loan Program’ was created in 1991 as a way to boost home ownership in rural areas. However, now it applies to a large part of Florida that isn’t exactly rural including ALL of Martin County.  Last time I drove through Stuart or Palm City, I didn’t get the feeling that I was out in the country.  These USDA loans are NO MONEY DOWN loans…and have no mortgage insurance…so they are often less of a monthly payment then FHA loans.  There are income restraints of 115% of median county income to be eligible.  I know of one or two loan brokers that are pushing these loans, but not many home buyers know about them.

A video introduction to FloridHomeAid.com and PalmBeachShortSales.com. 

We specialize in helping buyers and sellers of forecosures and short sales in the Palm Beach County and surrounding areas including: West Palm Beach, Palm Beach, Palm Beach Gardens, Wellington, North Palm Beach, Boynton Beach, Lake Worth, Boca Raton, Jupiter, Juno Beach, Tequesta, Royal Palm Beach, Loxahatchee, Lantana, Delray Beach, Hobe Sound, Stuart, and Palm City.

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