The IRS has clarified documentation for taxpayers taking advantage of the 1st Time Buyer and Move-up Buyer tax credits.
While the IRS is still requiring the filing of Form 5405, it is not demanding that all parties’ signatures be on the HUD-1 settlement document in areas where requiring both the buyer and the seller to sign the document isn’t common.
The IRS clarification says: "In areas where signatures are not required on the settlement document, the IRS has clarified that it will accept a settlement statement if it is completed and valid according to local law. … The IRS encourages those buyers to sign the settlement statement prior to attaching it to the tax return.”
For repeat buyers, the IRS is seeking documentation that home buyers have lived in the previous property for a consecutive five of the past eight years. Proof can include property tax records, home owner insurance records, or mortgage interest statements.
Call or email me to look at properties. You need to be under contract by April 30, so don't wait.
Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com
www.sherryarmstrong.com
www.daytonabeachscene.com
Saturday, February 27, 2010
Ormond Beach and Central Florida very Attractive Real Estate for Foreign Buyers
Property Frontiers, a six-year-old real estate investment advisory firm in southeast England, is telling its international clients "the whole of Florida is currently a hot bed of foreign buyer activity." Director and co-owner David Cox states, "Florida property is currently presenting some of the biggest bargains that the world of overseas property has even seen."
Although speaking of a development by Orlando, the same applies to the real estate of Ormond Beach. Cox feels, "When it comes to buying distressed property in (metro) Orlando, you don't need to look very hard to see that it will go back to the original value not long after the world has fully recovered from the current downturn, and once all the distressed sales and repossessed properties are gone."
Here's an example of a super buy in Ormond Beach which just had a price reduction to $124,900. This is a 2 bedroom/2 bath attached home in Lakes of Pine Run. Contact me for a private showing. To search for other great homes for sale in Ormond Beach, visit the communities on the Ormond Beach page of my web site, and use the search widgets. Don't lose this buying opportunity!
Although speaking of a development by Orlando, the same applies to the real estate of Ormond Beach. Cox feels, "When it comes to buying distressed property in (metro) Orlando, you don't need to look very hard to see that it will go back to the original value not long after the world has fully recovered from the current downturn, and once all the distressed sales and repossessed properties are gone."
Here's an example of a super buy in Ormond Beach which just had a price reduction to $124,900. This is a 2 bedroom/2 bath attached home in Lakes of Pine Run. Contact me for a private showing. To search for other great homes for sale in Ormond Beach, visit the communities on the Ormond Beach page of my web site, and use the search widgets. Don't lose this buying opportunity!
Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com
www.sherryarmstrong.com
www.daytonabeachscene.com
Saturday, February 13, 2010
Breakaway Trails Homes for Sale in Ormond Beach, FL
Here's a new listing in the gated community of Breakaway Trails, Ormond Beach, that highlights the great values now available in our Ormond Beach real estate market.The custom built home is 4 bedrooms, 2.5 baths, 5,108 SF, built in 1989, and is a nature lover's dream, complete with fireplace, vaulted ceilings, great room, and gourmet kitchen. The enclosed porch brings the beautiful grounds of Breakaway Trails into the home, while the master suite opens to an outside deck. An oversized yard on the 10,000 SF+ lot backs up to a nature preserve.
Breakaway Trails offers a clubhouse, tennis courts, pool, basketball courts, roller hockey rink, and is located just minutes from I-95, shopping, schools, beaches, and all the famous recreation the Daytona Beach area has to offer. Read more about Breakaway Trails on my web site.
The home is listed at $365,000, and HOA fees are $257/mo.
This is not my listing, but I can arrange a private showing for you, and show you other Breakaway Trails homes for sale, complete with a thorough Ormond Beach real estate market analysis. Just call or email.
Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com
www.sherryarmstrong.com
www.daytonabeachscene.com
Ormond Beach FL Unity in Community Program
Feb. 11 was the date, The Casements the place for the 4th annual Ormond Beach Unity in the Community event. The 6-hour program showcased exhibitors with blends of cultures, costumes, and customs. There were displays from local artists and Scotland, Japan, Hungary, Iran, and Colombia.
2 bagpipers weathered the cold wind in kilts on the front lawn, and students from Spruce Creek's Japanese Culture Club displayed crafts, origami, and traditional kimonos.
Visitors enjoyed Greek cooking demonstrations, a tai chi presentation, a Native American exhibit, and a handmade quilt showing all 50 states.
In addition, a 3 history-based talks highlighted the cultural diversity we take for granted here in Ormond Beach. Folks move to Ormond Beach for our weather and quality of life, and most are not disappointed. Request my free Relocate to Ormond Beach package, and contact me with your Ormond Beach real estate questions.
Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com
www.sherryarmstrong.com
www.daytonabeachscene.com
2 bagpipers weathered the cold wind in kilts on the front lawn, and students from Spruce Creek's Japanese Culture Club displayed crafts, origami, and traditional kimonos.
Visitors enjoyed Greek cooking demonstrations, a tai chi presentation, a Native American exhibit, and a handmade quilt showing all 50 states.
In addition, a 3 history-based talks highlighted the cultural diversity we take for granted here in Ormond Beach. Folks move to Ormond Beach for our weather and quality of life, and most are not disappointed. Request my free Relocate to Ormond Beach package, and contact me with your Ormond Beach real estate questions.
Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com
www.sherryarmstrong.com
www.daytonabeachscene.com
Sunday, February 7, 2010
Fast Trains to Come to Ormond Beach Area
When Pres. Obama visited the U of Tampa this past week, he committed to a proposal for a high-speed train to link Orlando with Tampa, as one of the 13 fast-train projects to receive federal stimulus money. The central Florida plan received $1.25 billion, about half of the official request and half of the estimate needed to complete the project.
Vice President Joe Biden called the grant "seed money,'' adding that "more funding is going to come in the future as progress is made." Biden, who also came to Tampa, said the Florida bid was selected because it was the most advanced of all the requests considered by the administration. Sunshine State officials have been planning high-speed rail for more than 20 years. Florida officials say the Orlando-Tampa project could create 23,000 construction and 1,000 professional-service jobs.
The Florida Department of Transportation will build the 84-mile system, that will start at Orlando International Airport and run mostly along the median of Interstate 4. Although state and local officials are awaiting the details of how and when they will get the money, the grant is enough to pay for about three years of work, transportation experts say. If the schedule that the state DOT laid out holds true, the train could begin operating in late 2014 or early 2015.
There are no concrete plans yet to link the train with SunRail, the planned $1.2 billion commuter train recently approved by state lawmakers for Central Florida. The first phase of SunRail, from DeBary in Volusia County through downtown Orlando to Sand Lake Road in south Orange County, should be operating when the high-speed train is complete.
Florida received the second biggest slice of the $8 billion pie for high-speed rail. California was first, getting $2.3 billion to begin work on an 800-mile line tying Sacramento and the San Francisco Bay area to Los Angeles and San Diego. A third major grant was $1.1 billion to improve a rail line between Chicago and St. Louis so that trains travel up to 110 mph.
In the not-too-distant future, you can live in Ormond Beach, go a short distance to board SunRail, and connect with the Fast Train for Tampa. It's exciting to live in a progressive, forward-thinking part of the country. Come join us - search homes for sale in Ormond Beach and contact me for previews and real estate information on our Ormond Beach communities.
Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com
www.sherryarmstrong.com
Vice President Joe Biden called the grant "seed money,'' adding that "more funding is going to come in the future as progress is made." Biden, who also came to Tampa, said the Florida bid was selected because it was the most advanced of all the requests considered by the administration. Sunshine State officials have been planning high-speed rail for more than 20 years. Florida officials say the Orlando-Tampa project could create 23,000 construction and 1,000 professional-service jobs.
The Florida Department of Transportation will build the 84-mile system, that will start at Orlando International Airport and run mostly along the median of Interstate 4. Although state and local officials are awaiting the details of how and when they will get the money, the grant is enough to pay for about three years of work, transportation experts say. If the schedule that the state DOT laid out holds true, the train could begin operating in late 2014 or early 2015.
There are no concrete plans yet to link the train with SunRail, the planned $1.2 billion commuter train recently approved by state lawmakers for Central Florida. The first phase of SunRail, from DeBary in Volusia County through downtown Orlando to Sand Lake Road in south Orange County, should be operating when the high-speed train is complete.
Florida received the second biggest slice of the $8 billion pie for high-speed rail. California was first, getting $2.3 billion to begin work on an 800-mile line tying Sacramento and the San Francisco Bay area to Los Angeles and San Diego. A third major grant was $1.1 billion to improve a rail line between Chicago and St. Louis so that trains travel up to 110 mph.
In the not-too-distant future, you can live in Ormond Beach, go a short distance to board SunRail, and connect with the Fast Train for Tampa. It's exciting to live in a progressive, forward-thinking part of the country. Come join us - search homes for sale in Ormond Beach and contact me for previews and real estate information on our Ormond Beach communities.
Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com
www.sherryarmstrong.com
Ormond Beach FL Advisory Board Needs Members
The city is looking for a few good men or women, volunteers with expertise in public works, to sit on a new board that will provide advice on future projects that typically are very costly.
The hope is that adding knowledgeable people can assist staff members and commissioners choose the best, least expensive ways to proceed with projects. Commissioner Ed Kelley said officials have looked into establishing a public works advisory board for more than a year and this past Tuesday night it was approved unanimously.
City Attorney Randy Hayes said state and city statutes require anyone with a conflict of interest to announce it before a vote. He recommended that people not be picked if many conflicts are anticipated.
The two-year term of the public works advisory board will run concurrent with that of the City Commission.
City Manager Joyce Shanahan stressed that the commissioners are the "stewards of public dollars," adding that they needed to be careful to protect that public trust. She added that public works committees exist in other Florida cities. "We are not the first ones doing this," she said. "We're not inventing the wheel."
If you have an interest, contact Ms. Shanahan, 386-676-3200, shanahan@ormondbeach.org.
Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com
www.sherryarmstrong.com
The hope is that adding knowledgeable people can assist staff members and commissioners choose the best, least expensive ways to proceed with projects. Commissioner Ed Kelley said officials have looked into establishing a public works advisory board for more than a year and this past Tuesday night it was approved unanimously.
City Attorney Randy Hayes said state and city statutes require anyone with a conflict of interest to announce it before a vote. He recommended that people not be picked if many conflicts are anticipated.
The two-year term of the public works advisory board will run concurrent with that of the City Commission.
City Manager Joyce Shanahan stressed that the commissioners are the "stewards of public dollars," adding that they needed to be careful to protect that public trust. She added that public works committees exist in other Florida cities. "We are not the first ones doing this," she said. "We're not inventing the wheel."
If you have an interest, contact Ms. Shanahan, 386-676-3200, shanahan@ormondbeach.org.
Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com
www.sherryarmstrong.com
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