A bit ashamed to say I sat and watched (mostly) college football all day (I did work the morning and could be close to submitting a contract). Great games all day. Started with Wisconsin's ot win over Fresno State, picked up in progress. Then I burned the remote between ND-Michigan (Oh, Charlie...), Tennessee-UCLA (Lane singing Rocky Top or Rocky Start?), Tiger making a mockery of another tour event, followed The Ohio State University-USC (with live cut-in to FSU-Jacksonville state. That's a victory they should vacate).


Some random thoughts.


Loved the students in the Tressel sweater vests. Bet OSU fans were ready to di-vest themselves of their defense during that last drive. They kept USC down for the entire game, with the exception of the very end of each half.


The AFLAC trivia question was when did USC last lose to a Big Ten team - should have been when was the last time Ohio State beat a team with any speed. (The answer, btw, was Penn State, behind Curtis Enis, sometime in the '90's). Also, no comparison between the qb's when the game was on the line. Which one is the true freshman?


When is the unveiling of the Touchdown Tebow stain-glass picture overlooking Ben Hill Griffin stadium in Gainesville scheduled?


The bottom line on ESPN gets quite annoying after 10 hours. Did you know that St. Francis (PA), which I think was a Division III team when I was hanging out in Western PA, beat Phil Simms' old school.


Can they make college games any longer. While the product is great, the amount of booth reviews make a long game even l o n g e r . BTW, don't think they got it right on the safety against UCLA. What a cheapshot on the QB on that play - lost a few teeth and took a nasty gash - but still got to run the victory formation in the Lane.

Maybe some real estate next time. We do need to extend the tax credit for first time homebuyers, and expand it to others if possible!

Kickoff the 22nd year in the Bucs radio booth later today. Go Bucs!

For those looking at alternative financing options, the USDA Rural Development loan program could be a great option. Income limits apply, as do location eligibility of the property, but take a look at some of the hightlights:
Up to 102% LTV
No Mortgage Insurance
30 Year Fixed Rates
No down payment
No loan limit
No reserves

You will also be surprised by the eligible areas. In Hillsborough County, virtually everything south Gibsonton qualifies as does all of the Fish Hawk area.

Pass this information on to your friends, especially those who might have the income to buy but are lacking that 20% down payment. As you know, I'm also a mortgage broker with Robert Stringer and Associates in Tampa, and would like to show you more about this product.

Attended a recent seminar by Dr. Lawrence Yun, Chief Economist for the National Association of REALTORS. Dr. Yun's presentations are always insightful and backed by pertinent statistics.

Two of his more interesting statements were that interest rates will likely hit 5.5% by year end and that today demographics and market conditions make it a favorable time to purchase investment property around universities. Many properties can be purchased at a price which allows a positive cash flow based on today's interest rates.

For those around the Tampa Bay area, the University of South Florida area offers that opportunity to investors. There is a large inventory of available properties, and with the size of USF, a seemingly endless supply of potential renters.

Much has been written about the original bailout of the financial industry. Banks loaned money to marginal borrowers through programs that were destined to result in default. The government then handed out billions of dollars that the banks have used without oversight. It is interesting to see one example of how that money is being used.

Some individuals who offered loan programs that contributed directly to the banking collapse are now reaping rewards from their previous actions. The link below is to a story from the NY Times which shows how some executives from Countrywide are now profiting from their previous actions. It's worth your time to read the story, and, as always, I welcome your feedback.

http://www.nytimes.com/2009/03/04/business/04penny.html?ref=todayspaper

Homebuyer Tax Credit - Better Than What We Had

Well, we aimed high with the homebuyer tax credit provision of the Obama Stimulus Plan, and while we didn't get the $15,000 in an earlier proposal, the result is still better than we previously had.
The bill, which will be signed any day now, provides for an $8,000 tax credit for first-time home buyers who purchase their principal residence on or after January 1, 2009 and before December 1, 2009. The credit, unlike the previus $7,500 credit, does not require repayment. Income limits do apply.
Here's the guts of the credit: the credit wil be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, the unused amount will be refunded as a check to the purchaser.
Contact me if I can provide any more information on this or any other real estate topic.

Homebuyer Tax Credit

While President Obama's economic stimulus plan is complex and far reaching, the aspects that pertain to real estate are what are important to REALTORS and the homebuyers currently sitting on the fence. There are several elements of the bill that might just kickstart the real estate industry, mainly some components of the Senate version.

Specifically, it allows a tax credit of the lesser of 10 percent of the cost of home or $15,000, but only for purchases beginning the date the President signs bill. Another key aspect is there is no income limit in this version nor is it restricted to first time homebuyers. And unlike the current tax credit passed by the previous adminstration, there is no repayment due unless the house is sold within two years.

Keep in mind that the law will not take effect until the date it is signed by the President, so purchases made up to that point in time are not affected.

Keep an eye on the final version of the bill - it could have far reaching implications for the real estate industry.

Tampa Bay - A Super Place to Live

Look for some billboards along Hillsborough County's highways and byways promoting the area as a great place to live. The billboards will up this week with the message, "Tampa Bay, a Super place to live". The website myfloridahomesmls.com is also featured prominently.

In case your not familiar, myfloridahomesmls.com is a public site where properties throughout the state of Florida can be viewed. There is a link to it from my web site.

The billboards are a joint effort of the Greater Tampa Association of Realtors (GTAR) and Mid-Florida regional MLS. The boards were designed and produced by the Tampa advertising firm Guckenberger and Associates.