April Real Estate Update
	Mortgage Rates Inch Up       In Freddie Mac’s results of its Primary Mortgage Market Survey the 30-year fixed-rate mortgage averaged 4.99 percent for the week ending March 25, 2010 – up from the previous week when it averaged 4.96 percent. Last year at this time, the 30-year fixed-rate mortgage averaged 4.85 percent.     “Mortgage rates inched up slightly this week as bond yields rose even further,” said Frank Nothaft, Freddie Mac vice president and chief. Mortgage Rates Source: Realty Times U.S. averages as of March 25, 2010: 30 yr. fixed:   4.99% 15 yr. fixed:   4.34% 1 yr. adj:        4.20% economist. ”Interest rates on 30-year fixed mortgages, however, were still below 5 percent for the fourth consecutive week.” The Extended Home Buyer Tax Credit     You’ve decided to purchase a home and take advantage of the Extended Home Buyer Tax Credit. Here’s what you have to do to get your benefit: Close on your home purchase between November 7, 2009 and April 30, 2010, or have a binding written contract in place by April 30, 2010 with a closing date no later than June 30, 2010. Decide whether to:  apply the credit to your 2009 tax return, filed on or before April 15, 2010;  file an amended 2009 return; or,  apply the credit on your 2010 return, filed on or before April 15, 2011. Homeowners filing for the home buyer tax credit are not allowed to use electronic filing and must file hard copies due to special documentation requirements. Mortgage Rates Inch Up       In Freddie Mac\\\’s results of its Primary Mortgage Market Survey the 30-year fixed-rate mortgage averaged 4.99 percent for the week ending March 25, 2010 – up from the previous week when it averaged 4.96 percent. Last year at this time, the 30-year fixed-rate mortgage averaged 4.85 percent.     \\\”Mortgage rates inched up slightly this week as bond yields rose even further,\\\” said Frank Nothaft, Freddie Mac vice president and chief. Real Estate Outlook: Steady Growth Expected     Harsh weather conditions held back home sales in February — leading to some renewed gloominess by Wall Street analysts.      But several new economic reports, including on employment, suggest that during the coming several months we’re likely to see steady but unspectacular national economic growth, and some pretty good housing rebound numbers.      Even the February home sales numbers were nowhere near as negative as you might expect under the circumstances.      Existing home sales were down slightly for the month – by six tenths of a percent – but were still clicking along at more than 5 million on an annualized basis.      New home sales were harder hit – down by 2.2 percent for the month. But median prices on new homes sold for the month jumped by six percent over January and were up five percent year over year, according to the Commerce Department.      A new study by economists at the Federal Deposit Insurance Corp (or FDIC) also provides a positive take on where we’re headed.      The United States housing market, according to the FDIC, is showing “tangible signs of improvement”.      Affordability – which is obviously a crucial factor in whether households can buy or not – is at “historic high levels,” says the report.
Equal Housing Opportunity Bonnie Fagoh 813-390-7606 bonniefagoh@gmail.com http://www.TampaCoastalHomes.com Century 21 Beggins Enterprises 813-658-1344 6542 U. S. Hwy. 41 N. Apollo Beach, FL 33572

Bonnie Fagoh is a 40 year resident of Tampa Bay. Bonnie is married to Mark Fagoh and together Mark and Bonnie have 3 lovely children. Bonnie is the owner of www.TampaCoastalHomes.com and is a local Apollo Beach #1 Expert for Century 21 Beggins. During the most challenging years ever recorded 2008 and 2009 Bonnie Fagoh earned the coveted “Masters” awards she can be reached at 813 390-7606

Good morning fellow real estate enthusiasts!

As we navigate thru these uncharted territories in this new econony

I am here to pass on information that Is important to the market. Recent actions

by some of our government institutions and rule makers has laid evidence to what

i have noticed in the last few weeks and that is a tolerance

for “invetors” in short sale and REO
flipping.

In fact short sale and reo or \\\”bank owned\\\” flipping of  properties are becoming more and more accepted by
the government and major lending institutions. This
is evidenced, among other things, by Freddie Mac\\\’s
recent bulletins, updated credit policies by major
lenders allowing for C buyer financing, and revised
title bulletins stating that the C purchase price does
not need to be revealed to the A lender as long as
certain disclosures are made.

Last Friday the FHA has rescinded its 90 anti-flipping
rule and will, for a period of 1 year, allow FHA buyers
to obtain loans on properties that have been recently
purchased by investors who intend to flip them for a
profit.

This “green light” by FHA means that if you’ve been on
the sidelines of property flipping, you need to educate
yourself as soon as possible, because investors will be
coming on strong for 2010 given this latest news.

Visit my site and blogs regularly as I am dedicated to informing you

on the latest market conditions..if this sounds like greek to you

hold on .. in the next few weeks as this unfolds I will update you

on these conditions

Have a Great Day/// Bonnie Fagoh

By Broderick Perkins

      Homeowners filing for the home buyer tax credit are not allowed to use electronic filing and must file hard copies due to special documentation requirements.   Earlier this year, the Internal Revenue Service (IRS) deployed new home buyer tax credit forms and instructions requiring forms that will force taxpayers to file on paper, rather than electronically.     The new home buyer tax credit filing rules are to ward off a repeat of 90,000 taxpayers who fraudulently claimed the credit, according to the U.S. Treasury.

      Under the new and expanded home buyer tax credit rule , the credit is worth up to $8,000 for first-time home buyers and up to $6,500 for qualifying existing home buyers, in both cases, who buy a primary residence or have one built. The tax credit is refundable. A credit that is larger than the taxes owed is returned to the taxpayer in the form of a refund.   The home can cost no more than $800,000 and qualifying income is limited to a maximum of $125,000 for single taxpayers and $225,000 for joint taxpayers.
     Get the full scoop online from the IRS’ “First-Time Homebuyer Credit” page online.
      All taxpayers (first time and move up buyers) seeking a credit or refund, must use the new IRS Form 5405 “First-Time Homebuyer Credit and Repayment of the Credit” (Taxpayers must pay back the credit if they sell the home within three years). The instructions, which teach taxpayers what documents are required, are available on IRS FORM i5405. In addition to Form 5405, also include at least one of the following documents:               
 A copy of the HUD-1, Settlement Statement, showing all parties’ names and signatures, property address, sales price, and date of purchase.
 For mobile home buyers who don’t get a settlement statement, a copy of the executed retail sales contract showing all parties’ names and signatures, property address, purchase price and date of purchase.
 For new home buyers who don’t get a settlement statement, a copy of the certificate of occupancy showing the owner’s name, property address and date of the certificate.

Again, because some of the documents required are not standard tax forms, taxpayers seeking the credit cannot file electronically.
      They can, however, use off-the-shelf tax software or the IRS Free File online software to prepare returns, but they must still print out the return and mail it in with the required documents.
      In addition to accuracy and compliance, the only other way to speed up any refund is to request, with the return, that the home buyer tax credit refund be deposited directly into a bank account.

WELCOME TO APOLLO BEACH Happy New Year!

As a testament to the fantastic waterfront coastal living at Bella Sol Luxury Villas, Despite global market conditions, savvy customers have voted with their hard $$ Dollars in 2009 making this Realtor top 10 in the region out of 4,000 agents from Tampa, Orlando to the Georgia State line Thank you!

As the first 30 days of the new decade have come to close sales at lovely Bella Sol Luxury Villas continue with 2 going to contract. If there is Ever an indication right now is the time! I only have 5 Waterfront units left states Bonnie Fagoh. The developer is taking bids to complete the 2 off water units.

For those who don’t feel BellaSol is a perfect fit, there are many other areas with desirable condos, townhomes and single family homes from which to choose in the Tampa Bay and surrounding areas. One of my clients wanted to be closer to the beach, so I helped them find a home just 10 minutes from the gulf for under $200k!

Buy BellaSol as your retirement home, vacation home, or just to enjoy maintenance free living! You will have more time to enjoy the water while someone else takes care of the lawn, pool, and all exterior maintenance!

For those needing to sell, please call me to go over your options. We have a system that works for those who need to do a short sale and we can offer a FREE consultation with a lawyer so you can find out what is best for you so you can make an informed decision.So to sum it up….great inventory, low prices, low interest rates, and fantastic weather make it the best time to BUY Florida Real Estate!!

Call Bonnie at (813) 390-7606 and schedule your complimentary boat tour of the Apollo Beach area. Come see why the dolphin and manatee love it here! Experience the waterfront lifestyle in this laid back community that is only a short 20 minute boat or car ride to the city of Tampa or 30 minutes to St Petersburg. Find out why the Tampa Sailing Squadron keeps their boats right here in Apollo Beach! We have a great central location with easy access to the Gulf of Mexico, Sarasota, Fantastic Pro-Golf, NFL Football, Even Pro Hockey and Baseball!! Yes you can have it all only 76 miles from Walt Disney World in Orlando and the Space Coast!

Buy BellaSol as your retirement home, vacation home, or just to enjoy maintenance free living! You will have more time to enjoy the water while someone else takes care of the lawn, pool, and all exterior maintenance!

Search all Tampa Bay properties at www.TampaCoastalHomes.com or better yet,
call me for a FREE boat tour! Bonnie (813) 390-7606

ZIP Code: 33572 Location Characteristics: Apollo Beach is a growing community centrally located between Tampa (20 min), Sarasota (30 min) and St Petersburg (20 min). There are 55 MILES of canals leading to Tampa Bay for those of you who enjoy water sports. Southshore Commons, a major “open air” mall is planned for 2011 with shopping, restaurants, movie theatre and office buildings.

Bonnie Fagoh
Tampa Coastal Homes

WELCOME TO APOLLO BEACH Happy New Year!

As a testament to the fantastic waterfront coastal living at Bella Sol Luxury Villas, Despite global market conditions, savvy customers have voted with their hard $$ Dollars in 2009 making this Realtor top 10 in the region out of 4,000 agents from Tampa, Orlando to the Georgia State line Thank you!

As the first 30 days of the new decade have come to close sales at lovely Bella Sol Luxury Villas continue with 2 going to contract. If there is Ever an indication right now is the time! I only have 5 Waterfront units left states Bonnie Fagoh. The developer is taking bids to complete the 2 off water units.

For those who don’t feel BellaSol is a perfect fit, there are many other areas with desirable condos, townhomes and single family homes from which to choose in the Tampa Bay and surrounding areas. One of my clients wanted to be closer to the beach, so I helped them find a home just 10 minutes from the gulf for under $200k!

Don’t forget the First Time Homebuyer Tax Credit has been extended, so take advantage of of that $8,000 credit (10% of the purchase price of the home with a max of $8,000 as long as you have not owned a home in the last 3 years). That $8,000 could buy some nice furniture for your new home! For those who have owned and occupied their homes for 5 consecutive years of the last 8 years, there is a possible tax credit of $6,500 if you buy a new home. Call for details.

For those needing to sell, please call me to go over your options. We have a system that works for those who need to do a short sale and we can offer a FREE consultation with a lawyer so you can find out what is best for you so you can make an informed decision.So to sum it up….great inventory, low prices, low interest rates, and fantastic weather make it the best time to BUY Florida Real Estate!!

Call Bonnie at (813) 390-7606 and schedule your complimentary boat tour of the Apollo Beach area. Come see why the dolphin and manatee love it here! Experience the waterfront lifestyle in this laid back community that is only a short 20 minute boat or car ride to the city of Tampa or 30 minutes to St Petersburg. Find out why the Tampa Sailing Squadron keeps their boats right here in Apollo Beach! We have a great central location with easy access to the Gulf of Mexico, Sarasota, Fantastic Pro-Golf, NFL Football, Even Pro Hockey and Baseball!! Yes you can have it all only 76 miles from Walt Disney World in Orlando and the Space Coast!

Buy BellaSol as your retirement home, vacation home, or just to enjoy maintenance free living! You will have more time to enjoy the water while someone else takes care of the lawn, pool, and all exterior maintenance!

Search all Tampa Bay properties at www.TampaCoastalHomes.com or better yet,
call me for a FREE boat tour! Bonnie (813) 390-7606

ZIP Code: 33572 Location Characteristics: Apollo Beach is a growing community centrally located between Tampa (20 min), Sarasota (30 min) and St Petersburg (20 min). There are 55 MILES of canals leading to Tampa Bay for those of you who enjoy water sports. Southshore Commons, a major “open air” mall is planned for 2011 with shopping, restaurants, movie theatre and office buildings.

Bonnie Fagoh
Tampa Coastal Homes