From the monthly archives:

April 2009

Flash! First Time Home Buyers Get $8000 Today

by Rodney Forbes on April 30, 2009

The following article from the Wall Street Journal has me scratching my head. By now, most people know about the $8,000 first time home buyer tax credit (contact me to see if you may qualify). What shocked me is that evidently the IRS is allowing people to claim the tax credit, yes $8,000 in your […]

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Home Short Sale Consequences…and Relief

by Rodney Forbes on April 30, 2009

Short sales in real estate today make up about 30-40% of home sales in south Florida. Everyone hears about them, but not too many people know the potential tax consequences of the short sale itself. The following article gives some good examples of the potential tax consequences of selling your home using a short sale. […]

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Worst is over for real estate?

by Rodney Forbes on April 30, 2009

After deteriorating relentlessly for nearly three years, the much-watched S&P/Case-Shiller Index showed a brief glimmer that plummeting home prices are at least slowing their fall. Prices are still plunging: Home prices in 20 major cities across the country have fallen 18.6% between February of this year and last, according to the index released Tuesday. That […]

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Slowing recession good for real estate market

by Rodney Forbes on April 30, 2009

The Federal Reserve on Wednesday said it see signs the recession may be easing, but warned that the economy is likely to remain weak. Against that backdrop, Fed Chairman Ben Bernanke and his colleagues left a key interest rate at a record low of between zero and 0.25 percent, and decided against taking any new […]

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Loan Mod Program Scam Alert

by Rodney Forbes on April 24, 2009

The recent law enacted by the federal government designed to help struggling homeowners stay in their homes by modifying the interest rate and/or term of the loan has spawned all sorts of bogus companies preying on unsuspecting homeowners. Many homeowners who are behind on payments are now being contacted by certain “loan modification” companies who […]

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New Simplified Tax Plan Unveiled

by Rodney Forbes on April 15, 2009

The first rough draft of President Obama’s simplified tax plan has been leaked to the press. The details are highlighted at the end of the article. The following excerpt courtesy of Liz Sidoti The president noted that he’s asked his economic advisers to thoroughly review how to simplify the tax code and report back to […]

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Clark Howard Buying = Real Estate Market Bottom!

by Rodney Forbes on April 14, 2009

Embedded video from CNN Video This video is a great example of what bargains are out there for home buyers, especially first time home buyers. Foreclosures and short sales make up the majority of pending home sales in the Palm Beach Gardens and the Palm Beach County area. I bought my first home in the […]

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First Time Buyers Get Home at 50% Discount

by Rodney Forbes on April 14, 2009

First time home buyers Katherine and Haas weren’t sure if they could qualify for their first home. They certainly weren’t ready to get an almost new home for 50% of what it sold for 3 years ago. The 4 bedroom 3 bath bank owned property in Port St. Lucie sold in 2006 for $292,000. Katherine […]

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Palm Beach Gardens Florida Market Report April 6, 2009

by Rodney Forbes on April 14, 2009

Rodney Forbes with Forbes Realty of South Florida discusses the real estate market conditions in Palm Beach Gardens Florida for the week of April 6, 2009. Of the pending sales, over 50% are short sales and bank owned properties. Buyers are responding to low interest rates, prices that are below 2004 levels and government stimulus […]

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Florida as a Tax Haven?

by Rodney Forbes on April 13, 2009

This is a great interview of Donald Trump that gives further credibility to low or no income tax states like Florida. As certain state governments continue to increase taxes on the wealthy they will keep moving to states like Florida that have no state income tax. Both Donald Trump and Rush Limbaugh have homes in […]

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