Perkins Realty is located on Fleming Island, just south of Orange Park and a short commute to Jacksonville, Florida!

“We are a top producing team with a proven marketing plan and a track record of success. If you want to give your home a competitive advantage, consider the Perkins Team for all of your Realty and Property Management needs! It doesn’t cost anything to talk to us, but it may cost you if you don’t!” ~ Roger Perkins

Fed, Treasury Announce Plan to Jumpstart Lending

The Federal Reserve and Treasury Department on Tuesday unveiled hundreds of billions more in money they are pumping into the struggling U.S. economy, trying to jumpstart lending by the nation's banks for mortgages and consumer debt.

Together, the programs from the Federal Reserve and the New York Fed aim to dump $800 billion in additional funds into the struggling U.S. economy, more than Congress approved in October for a bailout of the nation's banks and Wall Street firms.

The NATIONAL ASSOCIATION OF REALTORS® said the actions will free up money on Main Street and lower long-term interest rates, which in turn will boost home sales.

"This is great news for home buyers and sellers and we applaud the Fed for taking this historic step,” said NAR President Charles McMillan. “Housing recovery is the key to economic recovery in this country and it always has been.”

Under the plan, the Federal Reserve announced it will purchase up to $500 billion in mortgage-backed securities that have been backed by Fannie Mae, Freddie Mac, and closely held Ginnie Mae, the three government-sponsored mortgage finance firms set up to promote homeownership. It will also buy another $100 billion in direct debt issued by those firms.

"This action is being taken to reduce the cost and increase the availability of credit for the purchase of houses, which in turn should support housing markets and foster improved conditions in financial markets more generally," said the statement from the Fed.

By putting money in the hands of holders of consumer and mortgage loan securities, the government hopes more money will flow to consumers than has occurred so far in previous bailout plans.

The moves came as the Commerce Department announced that gross domestic product, the broad measure of the nation's economy, fell at an annual rate of 0.5% in the third quarter, the biggest drop in economic activity in seven years. Economists believe that the economy is likely to continue to contract in the current quarter and into early next year.

Source: Chris Isidore, CNNMoney.com (11/25/08), NAR

Perkins Realty is located on Fleming Island, just south of Orange Park and a short commute to Jacksonville, Florida!

“We are a top producing team with a proven marketing plan and a track record of success. If you want to give your home a competitive advantage, consider the Perkins Team for all of your Realty and Property Management needs! It doesn’t cost anything to talk to us, but it may cost you if you don’t!” ~ Roger Perkins Realty is located on Fleming Island, just south of Orange Park and a short commute to Jacksonville, Florida! Pick the Perkins for all of your Real Estate needs!

Home Sales Rise in Military Towns

Homes near military bases are escaping a slowdown in sales due to the wars in Iraq and Afghanistan

For instance, home prices in Clarksville, Tenn., the nearest residential area to Fort Campbell, Ky., rose 6 percent in the second quarter of 2008, compared to the previous year, while average home prices in the U.S. fell a record 4.8 percent during the same time period. In Fayetteville, N.C., next door to Fort Bragg, the average price for an existing home was up 5.2 percent from a year earlier. In Minot, N.D., where Minot Air Base, is located, average home prices rose 6 percent in the second quarter, In August, they were 10 percent higher compared to prices in August 2007. The Veterans Administration says use of its home loan program has increased 34 percent in the last 12 months.

Source: The Associated Press, Kristin M. Hall (11/12/08)

Perkins Realty is located on Fleming Island, just south of Orange Park and a short commute to Jacksonville, Florida!

“We are a top producing team with a proven marketing plan and a track record of success. If you want to give your home a competitive advantage, consider the Perkins Team for all of your Realty and Property Management needs! It doesn’t cost anything to talk to us, but it may cost you if you don’t!” ~ Roger Perkins

Colorful Ways to Expand Small Spaces

by Mary Rice

(NAPSI)—You can have a new home—at the old address—for a lot less than you may realize.

Start by expanding how spacious your home feels with some simple tricks and fool-the-eye color cleverness.

• Because pale colors tend to recede visually (move away from you), the lighter the color you choose for your walls and your floor, the larger your room will appear.

• Cool colors such as blues, greens and purples also seem to recede, making small spaces visually appear more open and spacious.

• Shiny surfaces can help you expand space even more. That’s something to remember when selecting paint sheens. For example, you can use a semi gloss sheen to visually expand a small kitchen or bathroom. Use a softer sheen, such as satin or eggshell, in bedrooms (these are especially great for kids’ rooms) and living areas to offer a more subtle finish.

• Trim, molding and even furniture placed at various heights can affect a person’s perceptions of space. Furniture kept at the same height level can help make rooms appear more spacious. To avoid decorative boredom, add a few simple level breakers such as a tall plant, wall art or an attractive floor light. In any case, don’t go for the massive and the overstuffed. Sleek furniture and clean lines keep the room looking large.

• Try the “same palette” trick. To make a small place appear larger, use the same palette of colors throughout but vary how you use it. For example, if using two different colors for your walls and trim, try repeating the colors in a connecting room, but use the trim color on the walls and the wall color on the trim.

• Open the door to a confined corridor by painting it with light, cool colors. Then mount a tall mirror at the end. The space may seem to go on forever.

• You don’t have to raise the roof over low ceilings. Instead, paint it a shade or two lighter than the walls to open the area up visually. Also, extend the wall color a few inches onto the ceiling.

• Another tip-top notion is to install crown molding around the perimeter of the ceiling and paint it in a darker color than the ceiling itself. This will help to draw the eye upward.

• Put patterns into play. Those with a strong directional feel (stripes, for example) can really help to visually expand your space. Vertical stripes tend to make rooms seem taller, while horizontal stripes make rooms appear longer.

• Let the sunshine in. Minimize window treatments to let in the light and add an air of openness.

• Paint your baseboards the same color as your walls.

Keep these tips in mind and you may find you can enjoy the illusion of a much bigger home without seriously slimming your wallet.

Article derived from Custom House Publishers Inc.

by Broderick Perkins

If the experts have said it once, they've said it a thousand times, but they can't say it enough. Homeownership doesn't come with a manual. It's up to you to learn what you are getting into before you embark on what's likely the most valuable acquisition you'll ever complete. It's no surprise new mortgage modification programs, foreclosure assistance and bankruptcy laws come with mandated homeownership counseling. When you get schooled on the issues of homeownership, you have much greater chance to continue as a homeowner -- even when the economy crashes down around you.

The foreclosure rate for low-income homeowners who attended homeownership education programs had a foreclosure rate that was 20 times less severe than that for subprime borrowers and three times better than that found in the prime mortgage market during the second quarter of 2008, according to data from NeighborWorks America, a staunch non-profit advocate for healthy communities.

"The facts tell the real story," says Kenneth D. Wade, CEO of NeighborWorks. "The vast majority of mortgages facilitated by NeighborWorks organizations are to buyers with low and moderate incomes and less than perfect credit scores, yet by obtaining quality mortgage advice these homeowners have been able to sustain homeownership during the most severe housing crisis since the Great Depression," Wade added.

Long before homeownership counseling was de rigueur, South County Housing, a chartered NeighborWorks member in Gilroy, CA, was doling out a heavy curriculum of homeownership studies along with sweat-equity programs and loans that look a lot like subprime mortgages. However, thanks to smarts the group gave its largely Latino buyers, South County's portfolio foreclosure rates today hover around zero, belying rates in the rest of foreclosure-hammered California.

There's more.

When NeighborWorks compared its total loan portfolio's foreclosure start rate of 0.21 percent in the second quarter of 2008, it found the overall nationwide homeowner market had a foreclosure rate more than five times as much, 1.08 percent. Nationwide, the foreclosure start rate for only conventional conforming loans was 0.61 percent, compared to NeighborWorks' portfolio rate of 0.21 percent. Buying a home today without learning what it takes to keep it, is like a trip to a Vegas -- for insights on both the money-losing potential in the casinos and the kind of widespread homeownership devastation that comes with ignorance. Learned homeowners consistently out perform those without the lessons. Says Wade, "The idea that some observers now are pointing to low-income people as the cause of the financial crisis we’re facing today is just wrong. NeighborWorks organizations have a track record of providing one-on-one mortgage advice, encouraging homebuyers to avoid loans that they can not afford for the long term."
The message is brutally simple. Seek accredited homeownership counseling now and prepare in advance for your own home. Even if you already own your home, enroll in a counseling session. There's plenty of counseling available. In October, the U.S. Department of Housing and Urban Development (HUD) doled out, to more than 2,300 local housing counseling agencies, $50 million in housing counseling training and housing counseling grants for first-time home buyers. It's your tax money. Use it. Get home schooled.

Published by realtytimes.com: November 20, 2008

Staying warm doesn't have to cost a fortune. Here are some ideas from the U.S. Department of Energy for conserving heat and saving money.

By Kelly Quigley

When the leaves start falling, you know that the heating bills are about to start rising. But keeping your home warm and cozy on chilly autumn nights doesn't have to break the bank. The U.S. Department of Energy offers these simple tips and relatively inexpensive home improvements that will help ensure cold gusts stay out and your furnace doesn't have to work harder than it should. The goal: Conserve energy and keep more of your hard-earned dollars in your pocket. Share these ideas with customers and use them for your own house. After all, who doesn't need to save a little money these days?

1. Plug air leaks with caulking, sealing, or weather stripping. Save 10 percent ($190 per year) or more on energy bills. Focus on windows, doors, outlets or switch plates on exterior walls.

2. Properly maintain the heating system. Heating accounts for half the average family's energy bill (approximately $950 per year). Make sure the furnace or heat pump receives professional maintenance each year. The small cost (about $75-100 for most service calls) will pay back in better performance all year long.

3. Install a programmable thermostat. Programming the thermostat from 72ºF to 65ºF for eight hours a day while no one is home, or everyone is tucked in bed, will cut the heating bill up to 10 percent ($90 per year), paying for a basic unit in less than a year.

4. Seal and insulate heating ducts. A system can lose up to 60 percent of its warmed air before it reaches the register (wasting $570 in warmed air per year) if ducts are not properly insulated in unheated areas such as attics and crawlspaces.

5. Insulate, insulate, insulate. Adequate insulation in the attic, ceilings, exterior and basement walls, floors, and crawlspaces can save up to 30 percent on home energy bills ($630 per year). Focus on the attic. (Heat rises.) Most homes should have between R-30 and R-49 insulation in the attic. Learn more at www.eere.energy.gov/consumer.

6. Close fireplace dampers when not in use. When in use, reduce heat loss by opening dampers in the bottom of the firebox (if provided) or open the nearest window about an inch, close doors to the room, and lower thermostat setting to 50-55ºF.

7. Let the sun shine in. Open curtains on south facing windows during the day to allow sunlight to naturally heat the home, and close them at night to reduce the chill from cold windows.

8. Stay out of hot water. Water heating accounts for 15 percent of household energy use. Reduce water heating costs by lowering the water heater’s thermostat setting. Each 10ºF reduction can save between 3-5 percent in energy costs. Also insulate the hot water heater and hot water pipes.

9. Install storm windows over single-pane windows or replace them with Energy Star qualified windows. Storm windows reduce heat loss by 25 to 50 percent, and storm windows with low-e coating that reflect heat back into the room during the winter months save even more energy. Look for the Energy Star label to maximize savings. Energy Star qualified windows reduce heating and cooling bills by an average of $345, but could be higher in cold and hot climates, compared with uncoated, single-pane windows. Can’t afford new windows just now? Tape clear plastic sheeting to the inside of window frames if drafts, water condensation, or frost are present.

10. Net big savings with a little label. When replacing appliances, light bulbs, electronics, or heating and cooling systems, cut energy bills by up to 30 percent ($600 per year) with Energy Star labeled products. Use compact fluorescent light bulbs (CFLs) in place of comparable incandescent bulbs. Find retailers at www.energystar.gov.

These and other improvements that impact the energy efficiency of a home can save home owners money in the short term and serve as a selling point to potential buyers later. Be sure to save receipts, documentation, and manufacturer’s information. Not sure where to begin? Try the Department of Energy's online energy audit tool at www.hes.lbl.gov. In the long run, a whole-house energy audit is a fool proof way to make a plan to address wasted energy and make a home operate efficiently for years to come. Visit www.natresnet.org to find a qualified auditor in your neck of the woods.

When you sell a stock, you owe taxes on your gain — the difference between what you paid for the stock and what you sold it for. The same holds true when selling a home (or a second home), but there are some special considerations.

How to Calculate Gain
In real estate, capital gains are based not on what you paid for the home, but on its adjusted cost basis. To calculate, follow these steps:

1. Purchase price: _______________________

The purchase price of the home is the sale price, not the amount of money you actually contributed at closing.

2. Total adjustments: _______________________

To calculate this, add the following:

• Cost of the purchase — including transfer fees, attorney fees, and inspections, but not points you paid on your mortgage.
• Cost of sale — including inspections, attorney fees, real estate commission, and money you spent to fix up your home just prior to sale.
• Cost of improvements — including room additions, deck, etc. Note here that improvements do not include repairing or replacing something already there, such as putting on a new roof or buying a new furnace.
  

3. Your home’s adjusted cost basis: _______________________

The total of your purchase price and adjustments is the adjusted cost basis of your home.

4. Your capital gain: _______________________

Subtract the adjusted cost basis from the amount your home sells for to get your capital gain.

A Special Real Estate Exemption for Capital Gains

Since 1997, up to $250,000 in capital gains ($500,000 for a married couple) on the sale of a home is exempt from taxation if you meet the following criteria:

• You have lived in the home as your principal residence for two out of the last five years.
• You have not sold or exchanged another home during the two years preceding the sale.
• You meet what the IRS calls “unforeseen circumstances,” such as job loss, divorce, or family medical emergency.

Reprinted from REALTOR® magazine (REALTOR.org/realtormag) with permission of the NATIONAL ASSOCIATION OF REALTORS®.

Copyright 2008. All rights reserved.

Perkins Realty is located on Fleming Island, just south of Orange Park and a short commute to Jacksonville, Florida!

We are a top producing team with a proven marketing plan and a track record of success. If you want to give your home a competitive advantage, consider the Perkins Team for all of your Realty and Property Management needs!

It doesn’t cost anything to talk to us, but it may cost you if you don’t!

Sell or Rent your home?

By Roger Perkins

In this slow market home owners who have to sell face the big question, do I sell now at depressed prices or rent the home until the prices get better?

Is the house vacant? If it is vacant for an extended period of time bad things can happen. Leaks, lack of use of appliances, lawn damage to name a few. Also, home owners need to make sure the current insurance coverage does not limit time of vacancy; most likely your rates will go up substantially.

What will the market be like in a couple of years? We just don't know and the homeowner needs to check the demographics of the area and make projections. We can help you with this data, just call us, there is no obligation.

Are there tenants out there? Absolutely, our property management business is booming. People are not buying but they have to live somewhere. Our military tenants have been especially brisk and they often want 2 or 3 year leases to cover the period of their orders. The list goes on, Please call us at Perkins Realty and we will be happy to give you the information you need. Pick the Perkins for your Property Manager and get these benefits:

Here’s what we Guarantee at Perkins Realty:

• Tenant Placement - We find more tenants because we do more advertising. Marketing is the key to any successful search for a renter. As anyone in Clay County knows – no one advertises more that the Perkins!
• Multiple Listing Service (MLS) - All local Realtors will know that your house is for rent.
• Electronic Lockbox - We make it easy for Realtors to show your home. They would rather show homes with a lockbox than have to go across town to pick up a key.
• Tenant Screening - Credit, criminal, eviction history and more.
• Lease Preparation - Through a Florida Attorney specializing in Landlord/Tenant law, at no additional cost to you.
• Escrow Services - We escrow the deposits and account for all funds.
• Repair Requests - We personally inspect problems when a tenant calls. Before we orders repairs, our policy is to go to the property and see if we can make the repair at no cost to the landlord. Sometimes it’s a very simple fix that we can do and avoid calling a licensed contractor. You don’t need to call an electrician to turn a tripped breaker back on. Often it’s an easy fix and will cost you nothing.
• Rent Collection - We collect the rent and pay you by check or direct deposit.
• Showings - 7 Days a week, whenever convenient for the prospective Renters!
• Free Truck - Often this is the deciding factor when making a decision on which house to rent. “The truck gives them an option with minimal out of pocket expense.

Perkins Realty is located on Fleming Island, just south of Orange Park and a short commute to Jacksonville, Florida! 

We are a top producing team with a proven marketing plan and a track record of success. If you want to give your home a competitive advantage, consider the Perkins Team for all of your Realty and Property Management needs!

“It doesn’t cost anything to talk to us, but it may cost you if you don’t!” ~ Roger Perkins

 Newest Listing in Green Cove Springs, FL!

Address: 2876 Majestic Oaks Lane, Green Cove Springs, FL 32043

This beautiful 4 bedroom, 2 full bath home has 1,815 sqft of living space, a customized open floor plan and shows like a model! Includes wood floors, new carpet in bedrooms, surround sound inside and out, crown molding, plenty of art niches and faux wood custom blinds. Kitchen boasts deep sink, stainless steel appliances and upgraded cabinets with pull out drawers. Covered Lanai with pavers, wood deck, fire pit, fully fenced with fruit trees, trellis and beautiful Beautiful landscaping. Home is situated on a preserve lot.

Perkins Realty is located on Fleming Island, just south of Orange Park and a short commute to Jacksonville, Florida!

We are a top producing team with a proven marketing plan and a track record of success. If you want to give your home a competitive advantage, consider the Perkins Team for all of your Realty and Property Management needs!

“It doesn’t cost anything to talk to us, but it may cost you if you don’t!” ~ Roger Perkins

What to do when the market turns cooler? Tips for homebuyers and sellers

In the Real Estate industry is very common to see people desperate when the market turns cooler whether is for buying a home or for selling a property. Homebuyers may tend to throw money out just for not losing a property while sellers go around in fear about over pricing or pricing downer in order to sell the property anyway. In all cases you need to hire a professional Real Estate Agent skilled enough in the two areas: buying and selling. If you are determined to sell a home, think firmly about if you actually need to sell the property in a cooling market.

If you really must sell the house, try to centre your money and energy into generating a curb petition. Be reasonable with your aspirations on pricing and timeline to sell the property. Listen carefully to your Real Estate Agent throughout the whole selling process especially about pricing. He/She will help you to set up the most realistic price for your property according to your competitors within the market. Your Real Estate Agent will also assist you in getting the best strategy to attract buyers for your house. Don’t be afraid of selling a home in a cooling market. You will sell the property to the right buyer and at the right price.

If you are determined to buy a home in a cooler market, just do it! A cooling market is the best thing a homebuyer can experience. There are numerous options for them to choose from big inventories to even low prices. However you need to be smart enough to make the offer and negotiate it. Don’t think that for being in a market that is just working on your side you don’t need help. Wrong! Don’t speculate with that. The assistance of a professional Real Estate Agent is a must even in a buyers’ market.

Perkins Realty is located on Fleming Island, just south of Orange Park and a short commute to Jacksonville, Florida!

We are a top producing team with a proven marketing plan and a track record of success. If you want to give your home a competitive advantage, consider the Perkins Team for all of your Realty and Property Management needs! It doesn’t cost anything to talk to us, but it may cost you if you don’t!

Comparative Market Analysis Determines Accurate Home Price
by Michael Stazko

Home buyers and sellers often hear their REALTOR® offer a comparative-market analysis (CMA). CMAs are an important tool when going into a real estate transaction. They allow a REALTOR® to estimate the fair-market value of a home, based on a number of different criteria. It is imperative that your real estate agent provides you this information in order for you to properly negotiate a contract.

There are several factors that go into a CMA. REALTORS® compare similar homes of equal square footage, in the same neighborhood and that have sold in the last six months. To get a more detailed picture, he or she may look at things like upgrades, lot size and street position.

As a buyer, a CMA can give you a general view of the market conditions for the particular neighborhood in which you want to purchase a home. It allows you to know how big of a house you can afford, as well as what upgrades you may be able to attain in that area.

Knowing the fair-market value will allow you to fine tune your decision when you’re going to make an offer. This is especially useful if time is of a concern. If you need to get into a home sooner rather than later, an accurate CMA will allow you to make a bid on a home that will beat out other offers. If you are in no particular rush to get into a house, you can set your offers at 5 percent – 10 percent less than fair-market value in order to get yourself a good deal.

When going to sell your home, an accurate CMA is a must. Your REALTOR® will use a CMA to determine an accurate price for your home. If you are disappointed with the CMA results, and want to price your home higher, be forewarned that overpricing will attract few, if any, buyers. And don’t be afraid to have your REALTOR® take you to see similar homes in your neighborhood to help you understand what your competing homes are, and ask for tips to make your home stand out.

Michael A. Stazko is a Dallas REALTOR® and founder of www.buyandsellnorthtexas.com and www.bigdallasrealestate.com.