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Renting Your Home June 1, 2010
By David B Moyer
 

Tampa real estate“I can’t afford to sell in today’s market. I bought the home a few years ago, and I own the property for more than I can sell it for.”  This is a real situation for many people in today’s world, and the situation  represents 40% of the properties listed today. Many owners attempting to sell property in the Tampa real estate market are affected.  People who can’t afford the mortgage payments fall into short sales and foreclosures when they list the home.

The other 60% of the current market are regular real estate sales. So how do they manage to sell their home?   They can sell quickly at today’s market price, and move on to the next property at a great value.  In most cases the properties do not have giant loans or the owners have had the property for many years (over 5).  They can afford to sell their Tampa real estate and are flexible enough to get it done.

If you fall into a situation where you need to move, but can’t sell (either because you’re not willing to take a loss or do not want to harm your credit), then leasing your home to a renter is a very viable option.

In an article provided by MSN, June Walbert of USAA explains some things homeowners should be aware of when renting a property.  This is great advice for any owner considering renting out their Tampa real estate.  “First replace your homeowners insurance policy with rental-home insurance. It covers the building and provides liability protection but doesn’t cover possessions, so it tends to cost about 20% less than a regular homeowners policy.” She also recommends including “a section in the lease requiring your tenants to buy renters insurance, which will cover their liability and belongings.”  In addition, she recommends that homeowners be aware of how reting will affect them at tax time.  “When you file your tax return, you’ll generally report rental income and expenses on Schedule E. You’ll be able to deduct your mortgage interest on the rental property, as well as insurance premiums, real estate taxes, advertising costs to rent the house, rental management fees, utilities you pay, travel to and from the property and legal and accounting costs.”

Smith & Associates Real Estate can assist with listing your Tampa real estate for rent and finding a tenant. We specialize in quickly locating qualified rental clients. Our experts will provide you with rental services that will allow for maximum exposure of your property. The steps would include having a property orientation, preparing the property offering, meeting and evaluating prospective tenants, preparing lease agreements prepared by a Florida eviction attorney ($50.00 fee), advertising, and processing of applications and credit checks. Please inquire with us about our fees. Smith & Associates Real Estate complies with all fair housing laws with applicants.

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Save The Date! National Open House Event April 5, 2010
By Stephanie Streeter
 

National Open House Day

This weekend, April 10th & 11th has been designated National Open House Weekend!  The event is aimed to increase awareness of the benefits of homeownership.  All across the country individual realtors as well as brokerages are planning open houses – and of course, Smith & Associates is too!

We have coordinated our monthly open house event for April to fall on the national weekend, and are exciting to be holding a large quantity of homes open all across Tampa Bay!

To view the Tampa Bay area homes for sale which Smith will have open this Sunday, please visit www.smithhometour.com in order to plan your tour.

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Make Every Drop Count April 1, 2010
By Stephanie Streeter
 

Homes In Pinellas CountyIn February, the EPA announced the finalized release of its WaterSense program.  The new specification was created in order to encourage builders and home owners to protect the future of our nation’s water supply through efficiency.  WaterSense is the first voluntary national program of its kind and compliments existing popular green building programs like the US. Green Building Council’s LEED program.  While developed over the past three years primarily as a specification program for new home construction, the basic principles can be applied in any existing home as well.

New homes in Pinellas County and other Tampa Bay areas built to WaterSense specifications would be 20% more efficient in water use when compared to traditionally built homes – reducing water usage by as much as 10,000 gallons per year.  “These homes will save homeowners as much as $200 a year on utility bills compared to their current homes” says Peter S. Silva, assistant administrator for EPA’s Office of Water.   In order to qualify, each home must meet the program’s stringent criteria for performance and efficiency and be thoroughly inspected and certified by an EPA licensed provider.

Newly built homes are not the only way to join the WaterSense movement.  Owners of existing homes in Pinellas County, for example, could replace existing fixtures with those labeled with the program’s seal.  A list of approved products available nationwide can be found on the EPA’s website by clicking here.

There are approximately 1.27 million new construction homes completed each year in this country.  If all were WaterSense approved, more than 12 billion gallons of water would be saved.  If builders of homes in Pinellas county, as well as those in Hillsborough and Pasco began to participate in this EPA program, the local impact could be huge.

Although a search today on the WaterSense website did not find any local builders, government agencies, or non-profits that have become partners in the program we certainly hope that Tampa Bay will soon have a presence.  In the meantime there are plenty of vendors elsewhere in Florida and across the nation who can help.  For more information on those agencies and companies who are approved, please view the Partner List.