Gainesville FL Real Estate Blog

Children and teens from the greater Gainesville community will perform in four productions at the conclusion of the Junior and Teen Summer Spectacular Theatre Camps, four-week camps designed to cultivate lifelong appreciation in the arts.  Visit the Education page on our website to learn more about this and other education programs.

Little Women
By Betsy Foster
Based on the novel by Louisa May Alcott
Directed by Betsy Foster

Join Jo and the other March sisters in this adaptation of Louisa May Alcott’s classic novel. Jo, Meg, Beth, and Amy live with their mother in Massachusetts, struggling to get by while their father is off at war. The sisters never lack for adventure as they grow up together, perform plays, attend parties, and find love in unlikely places.  As they get older and the war ends, the girls grow apart and begin their own lives. Heartbreak reunites the family, and reminds them all what home really means.  This timeless story captures what it means to grow up, find friendship, and nurture family bonds. 

Little Women Show Times:

Session 2

Monday, August 1 at 6:00pm (Preview)
Tuesday, August 2 at 11:00am
Wednesday, August 3 at 11:00am

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Linda Luetjen assists buyers looking for Gainesville FL real estate for sale and aggressively markets Gainesville FL homes for sale.

She understands the purchase of any Gainesville FL home represents not only one of the largest and most significant investment a person can make, but also a decision that affects the entire life of a family. It should be handled with all the care and attention such a significant transaction deserves. You may rest assured that Linda never forgets this. Her reputation depends on your satisfaction.

For more information about buying or selling your Gainesville FL home, please call Linda toll free at 888-424-8841 or via email with our convenient contact form.

Whether you have decided to make improvements to your Gainesville FL home or have just realized that your air conditioning system will soon need to be replaced, you need to find a source of funds to pay for these expenses. Obtaining extra money has never been easier for homeowners than it is today, thanks to two type of home equity lending offers which help make paying for both planned improvements and unexpected expenses a less stressful situation. Before you start shopping around, however, you should decide whether you want a closed-end second mortgage home equity loan (HEL) or a home equity line of credit (HELOC).

Home Equity Loan

A Home Equity Loan refers to a second mortgage that is structured in a very similar way to your first. With a HEL, you choose a fixed amount that you want to borrow, close on the loan, and receive a check for the amount you have chosen. You have regular monthly principal and interest payments that are structured over a period of years. Upon completion of those payments, your Gainesville FL home equity loan will be paid in full. If you decide later that you would like to draw additional funds, you will need to arrange for an additional loan with additional closing costs. HELs usually carry a fixed interest rate. HELs offer a straightforward plan for paying the money back.

Home Equity Line Of Credit

A HELOC (Home Equity Line Of Credit), on the other hand, is a line of credit from which you can withdraw money again and again. In many ways, a HELOC is just like a credit card, but the interest you pay is tax-deductible. You will close on a HELOC only one time, but if you decide after a few months that you need to withdraw additional money, you will be able to do so up to the value of the loan. HELOCs offer payment flexibility not available on HELs; you can make interest only payments for a number of years on a HELOC.

Consumers should consider several things before jumping into either financing option, experts say. That’s because home equity lines of credit typically are a good deal for those who want a lower up-front rate and access to money at unpredictable times. However, home equity loans are better suited to those who need a specific amount of money and payment stability. Whichever you choose, be cautious about the amount that you borrow since both types of loans use your home as collateral. If you ever default on either type of loan, you put your Gainesville FL home at risk.

Consider, too, the time factor, the closing costs, and annual fees associated with each type. Generally the closing costs are about the same for the equity loan and the line of credit, and the application process for each takes approximately two weeks. Those who opt for the line of credit, however, will have to apply and pay closing costs only one time, and they are subject to lender credit reviews (usually based on your credit score) only every one to three years to keep the credit line open to them.

Credit line upkeep can still lead to annual maintenance fees similar to those charged by credit card issuers, and some borrowers will also be charged fees if they don’t use the line for a long enough period of time. The rate benefit of lines of credit can help offset those costs. The credit line rate is often even lower for at least some period because stiff competition among lenders has spurred many to offer introductory teaser rates and other incentives. Check local rates in your neighborhood. Despite all the benefits of a line of credit, experts still advise people who need to make purchases of predetermined amounts to go with a home equity loan. That is in part because payments will be locked in at signing, rather than fluctuate along with the outstanding balance.

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Shall I sell now or wait to see what happens in the real estate market? That is a decision facing numerous homeowners in this period of economic upheaval and uncertainty. For those who are forced to leave their Gainesville FL home because of a job transfer, a need for a smaller home, and/or a desire for a smaller mortgage payment, the question becomes one of whether to rent or sell their current property. Oh, for a crystal ball.     

There are, however, some valid reasons to sell at the present time. Many in the real estate or financial fields believe that the timing for home sales may not be as opportune for a long period in the future as it is now, and they base their “sell now” advice on the following reasons:          

1. Would-be buyers in the fourth quarter of the year are historically serious buyers who are very apt to buy during this season. Thus, the seller may have fewer ‘lookers’ but more motivated purchasers.         

2. Interest rates right now are invitingly low and provide a real incentive for the serious buyer of a Gainesville FL home. These fallen rates can also be an advantage to the seller who wants to buy another home.           

3. If you do want to purchase another home, especially if you want to “trade up”, this is an optimum time to do so. The prices of more expensive houses have also dropped, sometimes considerably, and bargains are to be had in that market. Remember, too, that because there is a smaller pool of buyers for “high end” properties, those sellers may be  more than willing to negotiate and lower their asking price.           

4. Renting out your Gainesville FL home rather than selling it is not a financially secure consideration. As the economy worsens, renters will be looking to pay lower rents, so your rental income may very well be less than your monthly mortgage payments and expenses, a situation you certainly want to avoid.           

5. The on-going foreclosure fiasco and the ensuing moratoriums positively support the idea of selling now. Many homes currently in the process of foreclosure are being removed from the market, and serious buyers are rightfully cautious about purchasing any short sale or foreclosed property. Therefore, your home, the one with a clear title and no irregularities, will be part of a new, “safe” inventory, one that will definitely attract buyers.         

 6. Once the moratoriums are removed, many “experts” expect that there will be a glut of distressed properties on the market, a situation that will most likely drive prices down even lower and greatly swell the inventory with which you will have to compete. Add to that the fact that the end of the first quarter traditionally brings a large increase of  listings, and your Gainesville FL home could be easily overlooked.       

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If you are considering buying or selling a Gainesville FL home, you need to be aware of the possible impact an easement could have on the property’s value or on a buyer’s impression of the property. An easement is a encumbrance on the title of the property and indicates that a third party has been granted the right to use a defined area of the parcel for a general or specific purpose

There are many types of easement, both as a permanent arrangement and a limited-time agreement, and the most common ones are the:

• Right-of-way – which allows a person(s) to travel across the land of a Gainesville FL home.                        
• Public entity–gives utility companies and/or local governments the right to install power lines, sewers, and water mains, etc.

Other easements

• Provide pathways across pieces of property
• Forbid the blocking of a view
• Permit public access to a beach or park
• Allow use of a neighbor’s driveway
• Grant rights to preservation organizations
• Limit types of development on/of the land

While in most cases easements extend only along boundaries and have little effect on the value of your Gainesville FL home, it is important to determine that they do not affect the general use of the property or place any burden on the owner of that land. Owners and would-be buyers should

•  Be aware of what easements apply to the piece of real estate
•  Understand exactly what the easement allows and/or prohibits and
• Possibly obtain an appraisal of the value of the easement.  

Although most easements “run with the land” or pass forward to a new owner, it is sometimes possible to remove them through legal action, such as a quit claim deed or execution of a release agreement by all parties involved. Consult an experience real estate attorney to explore these actions as well as to confirm the presence, scope, and implications of any easements on the property of your Gainesville FL home.

Linda Luetjen assists buyers looking for Gainesville FL real estate for sale and aggressively markets Gainesville FL homes for sale.

She understands the purchase of any Gainesville FL home represents not only one of the largest and most significant investment a person can make, but also a decision that affects the entire life of a family. It should be handled with all the care and attention such a significant transaction deserves. You may rest assured that Linda never forgets this. Her reputation depends on your satisfaction.

For more information about buying or selling your Gainesville FL home, please call Linda toll free at 888-424-8841 or via email with our convenient contact form.

Search all Gainesville FL real estate and Gainesville FL homes for sale.

If you are among those who received a tax credit of up to $7500 when you purchased your Gainesville FL home in 2008, you are now required to begin repaying that credit with this year’s tax return. The entire amount is payable in 15 equal annual installments.

The IRS is sending letters of explanation of the repayment procedure to all taxpayers who claimed the credit in 2008. Generally speaking, all first-time 2008 home buyers will need to pay an additional $500 on their taxes from 2010 to 2025, provided the house is not sold before then and remains the owner’s primary residence.

If you sell your Gainesville FL home before 2025, any profits will first go to paying back the tax credit in full. If you sell at a loss, the difference will be forgiven, although, as is typical with most forgiveness agreements, you must record that amount as income and pay taxes on it.

If, within 36 months after buying your home, the property is no longer used as your primary residence due to a divorce in which your spouse retains the house; conversion to rental property, a business, or a vacation home; or foreclosure, the full amount of the unpaid credit must be paid in full with the tax return for the year in which the change occurred. You will need to file IRS form 5405 with your return in this case.

Because individual situations vary, it is important for 2008 Gainesville FL home buyers to consult a qualified tax professional to make sure they are fulfilling all obligations of their purchase and subsequent credit.

Yes, there are still qualified buyers out there, but the supply of Gainesville FL homes for sale is far greater than the demand for them, and today’s buyers can afford to be very selective. Your house may have excellent curb appeal and be beautifully staged, but if you really want to sell in this market, you must be realistic, flexible, and creative when it comes to pricing, availability, flexibility, and motivating the buyer to purchase your property.

PRICING: A few years ago, you probably could have sold your home for what you think it is worth today–or even more–but that is most likely no longer the case. Of course, the thought of taking a loss is a bitter pill for you to swallow, but if that’s what the recent sales in your neighborhood indicate, you may have no choice. It is important that you and your Realtor, after reviewing comparables, be objective and set a realistic price that will draw buyers. Keep in mind that the buyer is looking for the best possible deal and will avoid even looking at an overpriced house.

AVAILABILTY/FLEXIBILITY:

• Exposure and showings. Since so many potential buyers go first to the internet to scout out homes, make sure that your Realtor has your listing on his website. Also make certain that your Gainesville FL home is always available (and ready to tour) for showings. A Realtor’s lockbox is a good way to ensure unrestricted entry for agents.

• Closing dates: Again, you need to be as accommodating as possible. Many buyers want a closing date as quickly as possible, and it is helpful if you are prepared to at least consider such a request.

• Negotiating terms of the contract: If you have a solid offer from a qualified buyer, resist the temptation to quibble over relatively unimportant matters. If refusing to leave the drapes or an appliance is going to kill the deal, you may well regret your inflexibility later.

• Timeliness: In the current market conditions, you no longer have the freedom to take a few days to think about an offer made on your Gainesville FL home. Buyers will expect a response (preferably one with few, if any, counters) within 24 hours. Waiting longer than that too often results in a withdrawal of the offer.

INCENTIVES: Today’s sellers are turning more and more to finding ways to create interest in their property and motivate hesitant buyers. Since builders of new homes offer such         incentives, it is becoming commonplace for other sellers to do the same. Examples of incentives include:

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The scene we often envision at this time of year is one of family and friends sitting around a blazing fire with a brightly lighted tree, stockings hung from the mantel, and colorfully wrapped gifts adding to the cozy and festive atmosphere of your Gainesville FL home. A setting lovely to imagine–and to experience–but also one which requires awareness and safety precautions. Fires occurring during the holidays claim the lives of more than 400 Americans each year, and approximately 2 to 3 people per hour are treated in an emergency room due to “decorating” falls and other seasonal injuries.

At the time of year when lists–gift lists, menu lists, activities lists, and to do lists, e.g..–play such a large role in our lives, it is also necessary to establish a safety checklist to ensure an accident-free holiday for your family, guests, and even your pets. Suggestions for taking precautions include the following:

DECORATIONS

• Inspect lights for damage and link no more than 3 strands together. Use only UL approved and only as directed–indoor lights should not be used outside. Beware of overloading outlets. Don’t leave on when you’re not home.

• If you prefer a live tree, make certain it is fresh when you buy it and water, water, water!

• Use non-flammable or flame retardant decorations.

• Never leave lighted candles unattended, near combustible materials, or within reach of children or pets. Make certain to extinguish them before retiring for the night.

FIREPLACES

• Place the tree in your Gainesville FL home at least 3 feet away from the fireplace.
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Thinking of staging your Gainesville FL home for resale or just weary of the same old décor? Adding splashes of color, varying textures, and including patterns are quick and relatively inexpensive ways to impress potential buyers or spruce up your surroundings for your own enjoyment

COLOR:

Selection: First decide what colors you really like and what you want the color to do. Consider, too, your lifestyle, the room’s structure, and your lighting. Using a color wheel and understanding the qualities of different colors can be a helpful tool here. In vogue this year are earth-toned colors combined with the global colors of bright green, purple, orange, and turquoise. Want a dramatic effect? Contrasting colors–also called complementary because they are opposite each other on the color wheel (e.g. green/brown or orange/blue)–definitely create a mood and enliven a room. Even monochromatic color schemes which feature various shades of the same color can be refreshed by using complementary colors for contrast and visual punch. Remember that warm colors (those based on yellow, red, and orange) tend to “advance,” while cool colors (based on blue, violet, green) recede.

Changing wall color: As an alternative to repainting, you might want to try color washing.  Choose a color that blends well with your existing wall color. Staying in the same family…select a lighter shade to soften the walls or a darker hue to make them more vibrant. You “wash” the walls by 1. mixing your paint 50-50 with latex glaze 2. dipping a cloth into the mixture and 3. applying a small amount to the walls using a “washing” motion.

Accessorize: Look around the room for an item comprised of multiple colors–a sofa, carpet, drapes, or a piece of art are excellent sources. From that item select three colors you can repeat throughout the room–and you can do that in so many ways! Think about pillows, pictures, flowers and plants, objects d’art, and throws in the living room; candles and towels in the baths; canisters, pottery, and hanging plates in the kitchen; placemats and napkins in the dining room; and area/scatter rugs in any room in your Gainesville FL home.

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Because more than 5 million households are behind on their mortgages, two commonly heard, and sometimes confusing, terms are short sale and foreclosure. This article will define and explain a short sale. Part 2 will examine the foreclosure process, and Part 3 will attempt to compare and contrast the two to help you decide which better fits your circumstances.

Short Sale

A short sale is, in essence, the sale of a home for less than what is owed on the mortgage. This sale is done by you the homeowner, and your realtor, not the lender, and you may continue to reside in your Gainesville FL home until it sells. Such a sale is not an “easy out” for the homeowner, however. The lender (and any investors who own your loan) must agree to the short sale and will often do only so after loan modification alternatives (restructuring the loan) have been fully explored. For obvious reasons, many lenders prefer to forego a few monthly payments or lower your interest rate rather than having to begin foreclosure proceedings and take over the property.

You will have to convince the lender that you are sincere in your desire to make the short sale work and reach a fair settlement. You will most likely have to find a realtor who is willing to work for a smaller commission, contribute any available assets you have to lessen the outstanding mortgage balance, and demonstrate that you have “tightened your belt” by scaling back on your spending. Those things being accomplished, your lender may approve the short sale process in order to take a smaller loss, prevent a lengthy and costly foreclosure procedure, and avoid being saddled with a hard to sell foreclosure property.

Home Affordable Foreclosure Alternative

To further encourage “underwater” homeowners to use the short sale approach and lenders to approve such sales, the federal government has instituted a new program that provides financial incentives to the parties involved. Known as HAFA (Home Affordable Foreclosure Alternative), the homeowner who uses the short sale process could receive up to $3000.00 for relocation assistance, and a maximum of $6000.00 could be available to the lenders/investors serving the mortgage. Under this program, which has not been as successful as originally hoped, the lender will use real estate agents to determine the value of the home and the minimum to accept. If an offer comes in that is equal to or higher than that figure, the lender must accept it.

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In addition to the demands of current Gainesville FL home buyers for environmentally-friendly, or green real estate, there is also a growing segment of consumers who are looking for houses which incorporate the principles of feng shui. An ancient Chinese practice, feng shui is believed to improve one’s life through the use of color, location and positioning, and specific materials and objects, all of which combine to produce a positive energy, or chi, in your home.

The primary focus of feng shui is the positive flow of energy, which contributes to the creation of harmony in life. Integral components of the philosophy are the five elements of fire, earth, water, metal, and wood, and each of these is enhanced by color selection and use in your Gainesville FL home as follows:

• FIRE – Passion and high energy. These strong colors include red, orange, purple, pink, and bright yellow.

• EARTH – Nourishment and Stability. Beige and various earthy sand colors.

• WATER – Ease, freshness, and abundance. Blue and Black

• METAL – Clarity and preciseness. Grey and white.

• WOOD – Health and Vitality. Brown and Green

Other feng shui principles to follow include:

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