My New Blog

The vote was 98 to 0.

The legislation will extend the $8,000 homebuyer tax credit to contracts signed by April 30 and closed by June 30. The controversial credit, which many say has boosted home sales in recent months, was set to expire after Nov. 30.

The Senate's bill also created a $6,500 credit for those who buy a home after owning one for the last five years. That measure would apply to contracts signed by April 30 and closed by June 30. The current credit defines a first-time homebuyer as someone who has not owned a residence within the past three years.

The Senate bill would raise the adjusted gross income cap to $125,000 for single filers and $225,000 for joint filers. The amount of the credit currently begins to phase out for taxpayers whose adjusted gross income is more than $75,000 or $150,000 for joint filers.

Through mid-September, 1.4 million tax returns had qualified for the credit, according to the IRS. Some portion of those returns, which the IRS couldn't specify, represents buyers who took advantage of an earlier version of the tax credit, which was only worth $7,500 and has to be repaid over time.

By the end of November, the credit will have been used by 1.8 million homebuyers, at least 355,000 of whom would not have bought a house without the tax break, according to estimates by the National Association of Realtors.

"The data on the present home buyer tax credit show that the credit has had its intended impact -- sales have jumped in recent months to a projected 5.1 million for the year and housing inventory has been trimmed, thus stabilizing home prices noticeably," said Ron Phipps, the association's first vice president, in Senate testimony last month.

Independence Day parties in the St Petersburg area and on the Beaches.  Make a day of it with a picnic, bbq and a light show. ENJOY!

Show it off 3:00 P.M. Gators on the Pass
12754 Kingfish Dr. Treasue Island

Beach Fireworks

Madeira Beach 300 Municipal Dr., Madeira Beach, FL 33708

Redington Shores 182nd Avenue and Gulf Boulevard

St Pete Beach Access Park
4700 Gulf Blvd., St. Petersburg Beach, FL 33706

Treasure Island  10400 Gulf Blvd., Treasure Island, FL 33706-4815

That is really me when I was about 4 years old at the Rostocker Zoo.

Never seen birds that friendly. Even when I got in the car and started it, he didn't want to move.

  Direct Gulf front units overlooking the white, sandy beaches

Prices start for 1/1 at $269,000

2/2 at $350,000

South Beach is a condo hotel that was build in 2001. All the units are either 1/1 or 2/2 from 623 square foot to 925 sq ft. Most condo hotels have owner use restrictions where the owner can only use it 6 to 9 weeks a year. That might not be enough for some, so here is a great alternative. How about 350 days a year? South Beach has an optional onsite management that is very reasonable and provides great service as you will see in the below rental income numbers.

                   Living room

Income for a 2/2 corner unit direct Gulf Front (unit 308)

Room Revenue $34,571,70

House Commission $6,909.81

Expenses* $4,879.78

Owners Proceeds $22,782.11

* = Expenses include but not limited to: Credit Card Commission, Linen Rental/Replacements, Unit Supplies, Phone Service, Labor Charges, Material, Management fee for Reservations, Cleaning fee, Reservation Transfer.

                 New Kitchen

Unit 607 1/1 unit Gulf Front

Room Revenue $30,078.32

House Commission $6,015.67

Expenses* $4,154.15

Owners Proceeds $19,908.50

* = Expenses include but not limited to: Credit Card Commission, Linen Rental/Replacements, Unit Supplies, Phone Service, Labor Charges, Material, Cleaning fee, Reservation Transfer

         View

Unit 507 1/1 unit Gulf Front

Room Revenue 25,102.27

House Commission 5,020.46

Expenses* 3,580.31

Owners Proceeds 16,501.50

* = Expenses include but not limited to: Credit Card Commission, Linen Rental/Replacements, Unit Supplies, Phone Service, Labor Charges, Material,  Cleaning fee, Reservation Transfer

            Pool

Interesting facts    2/2 unit 925 sq ft,     1/1 623 sq ft

monthly maintenance between $538.00 and $615.00 incudes: building exterior, cable, electric, escrow reserves, insurance for the building, lawn, trash removal, water and sewer

Onsite management available not mandatory

Onsite management fee only 20%