Real Estate in Northeast Florida and Around the World

Tuesday is caravan day in my Watson Realty office in Ponte Vedra Beach, Florida.  A Realtor caravan is when agents visit earmarked listing inventory, so to get a better perspective of each house's characteristics, floorplan and attributes.

This tradition is dying.  Very few offices actually participate in caravan today, with so much information available on the internet, many agents find this to be a waste of time and gas.  I on the other hand, find this to be a highly-valued activity in my week.  One cannot understand the feel of a neighborhood, walk a floorplan, see find details in craftsmanship or smell awkward smells from the internet.  More times than not, the house I see (and my customers see) on the internet turn out to be so much different, both good and bad, in person.  My customers trust my judgment, and if I can preview a house and give it a thumbs up or down based on my buyer's needs, it saves both of us time and energy.  For my listing customers, I have to understand what is on the market, to clearly discuss their competition and help them price their home at the best price yet stay competitive.

Two hours per week is the minimum amount of time that I spend in viewing inventory.  How can I claim to have expertise in my field if I do not understand my product?  Have I seen every house in our inventory - heavens no, as I would have to spend all of my time running in and out of houses, which leaves no time for what I really love to do - meeting the needs of my customers.

So - tomorrow is caravan day - if you see me in your neighborhood, give me a wave!

Special Rules for Members of the Military, the Foreign Service
and the Intelligence Community

Congress has acknowledged the unique circumstances affecting members of the military, the foreign service and the intelligence community by making the following exceptions that apply to both the $8,000 tax credit for first-time home buyers and the $6,500 tax credit for repeat home buyers.

Exemption From Tax Credit Recapture Rules

• Typically, homes that are sold or that cease to be used as a principal residence within three years of the initial purchase are subject to recapture of the tax credit.
• However, qualified service members who sell or move from a tax credit home within three years of the initial purchase due to official extended duty are exempt from the recapture rule.

Extension of Tax Credit Deadlines

• The home buyer tax credit is available for qualified purchases with a binding sales contract in place on or before April 30, 2010 and closed by June 30, 2010.
• However, for qualified service members who are ordered on a period of official extended duty, these dates are extended for one year. For these home buyers, the tax credit applies to sales with a binding sales contract in place on or before April 30, 2011 and closed by June 30, 2011.
• A person who is forced to return to the U.S. for medical reasons before completing an assignment of at least 90 days of qualified official extended duty outside of the United States may qualify for the one-year extension.

Definitions

• “Qualified service member” means a member of the uniformed services of the U.S military, a member of the Foreign Service of the U.S., or an employee of the intelligence community.
• “Official extended duty” means any period of extended duty outside of the United States for at least 90 days during the period beginning after December 31, 2008 and ending before May 1, 2010.