2016 Buddy Walk for Down Syndrome

Life’s A Beach Real Estate is proud to support Big Mike in his efforts to raise awareness for people with Down Syndrome. Come walk and enjoy the festive environment with Big Mike and Life’s A Beach Real Estate.

The walk is November 5th!

Click below to register or donate!

Support Big Mike!

Florida Ranks 4th as Most Business Friendly

WASHINGTON – Sept. 29, 2016 – The nonpartisan Tax Foundation released its 13th annual State Business Tax Climate Index, which measures how well-structured each state’s tax code is by analyzing more than 100 variables in five tax categories: corporate, individual income, sales, property and unemployment insurance.

Wyoming once again took first place with the most competitive tax code in the country, while New Jersey maintained its long-standing position at the bottom of the pack.

Overall, Florida ranked fourth. Only three other states were deemed to have a more business-friendly tax code. This year’s most competitive states include:

1. Wyoming
2. South Dakota
3. Alaska
4. Florida
5. Nevada
6. Montana
7. New Hampshire
8. Indiana
9. Utah
10. Oregon

This year’s least competitive states include:

41. Louisiana
42. Maryland
43. Connecticut
44. Rhode Island
45. Ohio
46. Minnesota
47. Vermont and D.C.
48. California
49. New York
50. New Jersey

States are penalized for overly complex, burdensome and economically harmful tax codes, and rewarded for transparent and neutral tax codes that do not distort business decisions. A state’s ranking can rise or fall in rank because of its own actions or actions taken by other states.

“Our goal with the State Business Tax Climate Index is to start a conversation between taxpayers and policymakers about how their states fare against the rest of the country,” says Tax Foundation policy analyst Jared Walczak. “While there are many ways to show how much a state collects in taxes, the index is designed to show how well states structure their tax systems and to provide a roadmap for improvement.”

The index can also be used as a tool for identifying state tax trends. For instance, the report shows that a number of states are now opting to simplify their tax systems by consolidating individual income tax brackets or even moving to a flat tax.

Hawaii eliminated its top three individual income tax brackets in 2016 and reduced its top marginal rate from 11 to 8.25 percent, for example. That improved its overall rank from 30th to 27th. North Carolina moved to a flat individual income tax in 2014 and continues to phase in rate reductions, building on its 2013 reforms and shoring up its place at 11th overall.

Another trend is the tendency for states to shift away from taxes on capital. Pennsylvania, for example, has now completely phased out its capital stock tax, boosting its property tax component ranking six places, from 38th to 32nd, and improving its overall state ranking from 28th to 24th.

The full report is available online, along with a map that graphically shows the ranking of each state.

4 Reasons to Buy a Home this Fall

The fall may be notorious for a slowdown in the housing market. But for home buyers that shouldn’t mean they should go to an early hibernation. For home shoppers, the fall likely will be the best time to buy.

Realtor.com® recently highlighted several reasons why the best time for your clients to buy is right now:

1. Lower home prices.

October can offer the best month for home deals, according to research by RealtyTrac of more than 32 million home sales over the last 15 years. In October, home buyers paid 2.6 percent below the estimated market value at the time for their homes, the study shows. In other words, on a $300,000 home, they could save $7,800 by purchasing it in October.

2. Less competition.

The home buyer rush from the summer days is over. Home shoppers this summer who were rushing to find a home before school started have already found one. Fall home buyers will have less competition. “Many folks will drop out of the market until after the new year,” says Bill Golden of RE/MAX Metro Atlanta Cityside.

3. More leverage.

Home sellers in the fall may be more pressed to sell. They are “generally people who need to sell, which can make for better negotiations for the buyer,” Golden says. The longer a home lingers, the more negotiating power the buyer likely will have. Plus, some sellers may want to get settled in their new home before the holidays and have more incentive to make a deal sooner rather than later.

4. Year-end tax credits.

Home buyers who close on a home by the end of the fiscal year may find a nice tax deduction awaiting them on April 15. They may be able to deduct closing costs, property tax, and mortgage interest to offset their taxable earnings.

Wait, there are more reasons to buy this fall! Check out the full list at realtor.com®.

HIGHLAND, Calif. – Aug. 12, 2016 – Philip and Denise Powell lost their home in 2011 after Philip’s hours as a pastor were cut in half and Denise was sidelined by a surgery. But they were determined to become homeowners again, so they rolled up their sleeves and got to work.

The Highland, California, couple got financial counseling. They took control of their credit reports, tackled high-interest debts and cut spending. In 2015, they bought another home.

“We thought we’d never recover,” Philip Powell says, recalling the devastation they felt after losing their home. “No one in California was ready for the crash; it hit us hard.”

Their story is typical of the more than 9.3 million homeowners who lost a home through a distressed property sale from 2006 through 2014, according to the National Association of Realtors.

As rents rise, low mortgage rates persist and the economy gradually improves, some who lost their home in recent years will be able to re-enter the housing market. A 2015 study by the NAR found that 1.5 million previous homeowners might be eligible to buy within the next five years, based on the time it takes to boost credit scores and save for a down payment, as well as mandatory wait times to buy another house.

For those looking to put down homeownership roots once more, here are five tips:

1. Know your options: You no longer have to wait seven years after a bankruptcy or foreclosure to buy another home, says Ray Carlisle, president of the national nonprofit NID Housing Counseling Agency. For homeowners who had extenuating circumstances such as prolonged income loss or major medical expenses, Fannie Mae has shortened its waiting periods to two years after a pre-foreclosure sale – a short sale or deed in lieu of foreclosure – and to three years after a foreclosure. That’s down from the standard waiting periods of four and seven years, respectively.

To get a Federal Housing Administration loan after a foreclosure, the standard wait time is now three years – and as little as one year with extenuating circumstances, says April Brown, a spokeswoman for the Department of Housing and Urban Development.

2. Change your bad money habits: Focus on paying down debt, creating a solid savings strategy and avoiding new splurge purchases. Saving for a downpayment and closing costs is one of the biggest hurdles that homebuyers face. Start socking away bonuses, windfalls, tax refunds and other extra cash in a savings account. Setting up automatic deposits to your savings account is another way to grow your downpayment reserves, and it removes the temptation to spend money unnecessarily.

3. Repair your credit: The FHA’s minimum credit score requirement for maximum financing is 580. Some lenders offer loans at that minimum, Carlisle says, but other mortgage lenders require a FICO score of 640 or higher. Paying off high-interest debt on time each month and not taking out new loans or running up your credit cards will help build your credit score. Also, ask your utility providers or landlord to report your on-time monthly payments to the major credit bureaus to have those count on your credit report, too.

4. Beware of predatory lenders: If you encounter lenders that try to seduce you with “special” zero-down home loans or people who recommend rosy rent-to-own or land contract agreements, run the other way. Carlisle says that 80 percent of NID’s clients are minorities who are disproportionately targeted by predatory lenders. Never sign any contract you’re unsure of, and have a housing counselor, real estate attorney or different lender look it over to get a second opinion.

5. Seek help from the pros: Not only can housing counselors help you address credit issues and set up a savings plan, they can connect you with state, local and private resources that can ease your path to homeownership, Brown says.

Next steps: If you’re looking to buy again, reach out to a HUD-approved housing counselor before you begin. Also, the National Foundation for Credit Counseling provides help to more than 3 million people each year. Find an NFCC-certified housing counselor to discuss your options.

Related links

NerdWallet: Buying a House, the First Steps

HUD: Approved housing counselors

NFCC: Certified housing counselors

Copyright © 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. This article was provided to The Associated Press by the personal finance website NerdWallet, Deborah Kearns.

WASHINGTON – Aug. 19, 2016 – Public comments provided by listing agents can give information about the property amenities, architecture and neighborhood information, and they can also impact the days a property is on the market, according to a new CoreLogic report.

CoreLogic researchers looked at more than 1 million single-family transactions controlled for listing price, geographic variations, and physical housing characteristics and found that certain phrases in public comments helped sell a home faster.

Which words had the biggest impact? Researchers found that words like “fenced backyard,” “open concept,” “natural light,” and “updated kitchen” tended to reduce days on the market for a property.

“For those selling a home that happens to have these features, they should make sure to ask their listing agent to include these words and phrases in the public comments,” writes researchers Bin He and Matt Cannon at CoreLogic’s Insights blog.

Fences appeared four times in the top word pairs, such as backyard fence, full fence, or a fence in the yard. The researchers say that the appeal of “fence” may indicate that privacy is a top priority for buyers.

On the other hand, researchers pinpointed some words that seem to make a listed property linger on the market, such as “golf course,” “gourmet kitchen,” “ceramic tile,” and “granite countertop.”

“While granite countertop has been popular, there is a recent surge in quartz’s popularity,” the researchers say. Also, “it appears two-story homes are going off market slower than one-story homes nationwide. Evidently, ‘two story’ is one of the word pairs that could increase days on the market, and ‘single story’ is one of the word pairs that could reduce days on the market for a listed property.”

Researchers were stumped on why properties with “gourmet kitchen” would stay on the market longer, however.

“One possibility is that this luxury feature would lead to a higher property value,” He and Cannon suggest. “Homes that have higher prices relative to their neighbors may have less demand than lower-priced, more affordable homes, and hence it takes a longer time to sell.”

Source: “Say What?! Public Listing Comments Can Have an Impact on Days on Market?” CoreLogic Insights blog (Aug. 12, 2016)

© Copyright 2016 INFORMATION, INC. Bethesda, MD (301) 215-4688

Panama City Beach Best in US for Investment

PANAMA CITY BEACH, Fla. (WJHG/WECP) – A recent study named Panama City Beach the best place in the U.S for people to invest in vacation rentals.

The website Rented.com just published a report on the best U.S markets for people to invest in vacation rentals. Panama City Beach topped the list at number one, beating out 120 other destinations.

Local real estate brokers told NewsChannel 7 they aren’t surprised.

“In the panhandle we are by far the most affordable place to come and stay,” Krista Navarro, a broker with Gulf Real Estate, said. “We’re also an affordable place to invest. Investors can still get a bang for their buck here. You can buy on the beach front or off the beach front and we have a strong clientele of people who want to come and spend their time here.”

Navarro said affordable property prices aren’t the only attraction to the area.

“Thanks to our TDC, Panama City Beach is a year-round destination,” she said.”

Turning Panama City Beach into more than a summer vacation hot-spot has been one of the Tourist Development Council’s top priorities.

“You look at what we’ve done, where we used to be primarily a summer destination and now fall is building, we’re doing well in late spring and now winter as well,” David Demarest, the spokesman for Panama City Beach, said. “So there is room for more year round investment.”

Aside from the year-round attraction, the study also took into consideration state and local tax laws.

“When you buy in Panama City Beach, you’re looking at not having to pay income tax because we’re in Florida so that’s a great thing,” Demarest said. “You’re also, in Panama City Beach, not paying an ad valorem tax. Tourism powers a lot of what we do here, it means we don’t have to pay a lot of taxes.”

There is also the attraction of the beach itself. With 58 beach access points within city limits, the sugar white sand is never far away.