Some Answers about Tainted Chinese Drywall

Being a Realtor in Southwest Florida I get a lot of clients asking me questions about tainted Chinese Drywall. Here is a quick explanation on some of the essentials to understand. Remember I am not an expert....

Most of the homes with tainted Chinese drywall was installed in new construction homes between 2004 and 2006. There has been evidence of Chinese drywall that was put in homes built in 2001 and, of course, anyone who has remodeled their home during any of those years may be at risk.

Most consumers believe that if there is no odor then there is no Chinese drywall. not true. The degree of smell varies greatly in each home, as does each person's ability to detect the odor. The strength of the smell also depends on the quantity of drywall was used in the home and the quality of paint and primer. Homeowners have reported no smell, but their home clearly has Chinese drywall. In short, do not rely on smell alone.

The strongest indicator of Chinese drywall is black corrosion of copper and porous metal surfaces, including electrical wiring. Check the interior and exterior of the HVAC unit (air conditioner) and look at the copper lines and coils. The majority of homes with Chinese drywall have had air conditioning problems, specifically premature replacement of the evaporator coil. You should also check the interior wall electrical receptacles and switches to see if the ground wires are blackened. In a new home.

So...my message to most people if they suspect tainted Chinese drywall or are buying a home is to find a local inspector that is trained in tainted drywall discovery.

First Time Home Buyer Tax Credit Gets Senate and Obama Approval

It looks like good news for home buyers. The $8,000 First Time Home Buyer Tax Credit EXTENSION has received Senate and President Obama informal approval over the last couple of days. Although the signatures to seal the deal appear all but certain it still has yet to be passed. This week Senators struck an agreement to not only push back the measure's deadline but to expand; allowing current homeowners and other buyers to claim the tax credit as well. A provision for a $6,500 tax break for homebuyers who have lived in their prior residences for at least five years may be added. Income limits for couples and individuals to qualify for the tax credits will also likely be increased, opening up the door for even more people to take advantage of the tax break(s). The plan calls for an extension of the credit until April and that buyer(s) must have a sales contract on a house by April 30, 2010 to be eligible yet gives them an additional 60 days to actually close on the property. We’ll keep you posted when it becomes official…and until then…keep looking for your new dream home!

Breast Cancer 5K Walk for Sarasota/Manatee Counties

And you thought all we did was sell Real Estate. Well...Randy the Realtor and the Prudential Palms Realty gang will be participating in the Making Strides Against Breast Cancer 5K Walk for Sarasota/Manatee Counties on October 24, 2009 at the Sarasota Polo Grounds. Making Strides is the American Cancer Society’s largest event to raise awareness and funds to fight breast cancer here in the area. The Sarasota/Manatee event in 2008 had over 5,000 participants who helped raise $370,000 to help fight breast cancer. This year we are expecting an even bigger event. Making Strides is an opportunity to honor breast cancer survivors especially our friend, Realtor Beth Barnett. As well as educating women about breast cancer prevention, early detection, awareness, the walk will raise funds to help achieve a day when no one will have to hear the words “You have breast cancer.” The walk is on October 24th and starts at 9:00 AM, with registration opening at 7:30 AM. Please contact me or any member of the Jim Soda Group or Prudential Palms Realtors if you have any further questions or would like to donate to this worthy cause. Thank you in advance for supporting the fight against breast cancer. See you there!

Sarasota as the top market to buy a home RIGHT NOW!

If you are sitting on the fence about buying a home in Sarasota? Real Estate prices in Sarasota have stabilized and are starting to trend upward. On Thursday morning, October 8, Barbara Corcoran, the Today Show's real estate expert, targeted Sarasota as the top market to buy a home RIGHT NOW. Click on the link (on the Jim Soda Blog) to find out more: http://www.jimsoda.com/blog/archives/2009/10/sarasota-number-one-in-the-nation.html

Did you Know...Green?

For every 8 yard garbage dumpster that is converted to an 8 yard recycling container for mixed paper, you can save as much as $170.00 per month in garbage fees.

For more information you can visit:

http://www.scgov.net/greenbusiness/successstories.asp

What's the latest news on extending the $8,000 Tax Credit for First Time Homebuyers

The question I get asked a lot is, "What's the latest news on extending the $8,000 Tax Credit for First Time Homebuyers". As of today, Congress has NOT extended the program past the current end date of December 1, 2009 however it is in consideration. Check out this link on a current news story: http://www.bloomberg.com/apps/news?pid=20601103&sid=aziH1b.eNBT4.

I have also enclosed this FAQ link that may answer other questions you or a friend may have regarding the $8,000 Tax Credit. Specifically, see question #19 on the following FAQ link. This addresses the question of obtaining the credit prior to filing 2009 tax returns.
http://www.federalhousingtaxcredit.com/2009/faq.php

I hope this is of value to you . As always, please feel free to contact me with any questions.

Randy the Realtor's Rules for a Successful Short Sale Closing

Both clients and fellow real estate professionals can attest that real estate short sales can be a big black hole. As a Realtor that deals with the increasingly complex and changing road map involved in a successfully closing of a short sale, I believe that everyone involved in the transaction must work together to navigate the layers involved in the approval process and strive to help both buyers, sellers and lender come together. And… in an area of real estate where there seems to be no rules. Here are my rules for a successful short sale closing:

1. Short sales are here to stay for the foreseeable future
2. Buyer must be committed for the long haul (90 plus days)
3. Buyer’s offer must be based on current sold comps to match lender BPO (Broker Price Opinion)
4. Seller must have a lender negotiator/mitigator in-place
5. Seller’s Realtor or negotiator has to be a relentless pain calling the lender
6. Property should have only one loan or if two, both with the same lender

And some facts….While the market is showing signs of improvement, it's important to note that there have been over 11,000 listings entered in the Mid-Florida Regional MLS that indicate a potential short sale since January 1, 2009. Only 315 have been reported as sold transactions during that same period. If you have any questions about short sales or are looking to buy or sell real estate in the Sarasota/Bradenton area please give me a call at 941.586.9635.

Sarasota's 25th Annual Suncoast Offshore Grand Prix

The 25th Annual Suncoast Offshore Grand Prix is back in Sarasota with fun and excitement for the entire family. This year’s Festival and Race This year all proceeds will benefit The Florida Center for Child and Family Development. Over the past 24 years, the festival has given millions of donation dollars towards the construction of facilities that provide programs and services to physically and mentally challenged children and adults. Here is the schedule of events:
Saturday – June 27
Festival Kickoff PartyLocation: Sarasota Municipal AuditoriumTicket Price: $100 per person / Tables of 10 availableTime: 7:00 p.m. until 1:00 a.m.Live Entertainment by the Greg Billings BandSilent & Live Auction - Casual Dress – Includes Dinner and Open Bar
Sunday – June 28
Festival Car Show and ExpoLocation: Ellenton Suds Sports Grill at Ellenton Ice and Sports ComplexDetails
Thursday – July 2
“The Friendliest Catch”Fishing Tournament for the Physically & Mentally ChallengedLocation: Sarasota Outboard ClubTime: 8:30 a.m. until 1:30 p.m. (Lunch and Awards Included For Participants)Festival Parade of Boats Location: Main Street in Downtown Sarasota (Begins at U.S. 301 to Gulfstream Avenue)Start Time: 7:00 p.m. Downtown Block Party Location: Lemon Avenue / Downtown Sarasota Time: 8:00 p.m. – MidnightEnjoy live entertainment, great food, and vendors
Friday – July 3
Powerboats By The Bay Location: Centennial Park on 10th StreetTime: 10:00 a.m. until 6:00 p.m. Free Admission – No Coolers AllowedSee Powerboats on display, meet special guests, enjoy great food, vendors, and live entertainmentMotorcycle “Grand Prix Souvenir Ride”Start Location: VFW Post 3233 – 124 S. Tuttle AvenueTime: Registration: 9:00 a.m. – First Bike Out 9:30 a.m. – Last Bike Out 10:30 a.m.$10 Registration Fee per person – Ride Ends at Powerboats By the BayFood and beverage will be available for purchasePeople’s Choice Bike ShowLocation: Centennial Park on 10th Street Time: Noon until 2:30 p.m.$ 15 Registration Fee – Trophies for 1st Place at 3:00 p.m.Bike Show ClassesBest Stock Harley-Davidson TouringBest Custom Harley-Davidson TouringBest Stock Harley-Davison CruiserBest Custom Harley-Davidson CruiserBest Vintage (Pre 1984)Best Metric TouringBest Metric CruiserBest Custom (Chopper Class)Note: Stock or Custom is decided by amount of chrome, paint and modifications“Meet & Greet Who’s In The Drivers Seat” Location: The Boathouse (Located directly behind the Hyatt Regency on the Water)Time: 5:30 p.m. until 7:30 p.m. $5 Adults – Children 12 and Under FreeObtain autographs and photos with participating race teams and Capt. Keith Colburn & Crew of Discovery Channel’s “Deadliest Catch”World’s Largest Offshore PartyLocation: Hyatt Sarasota BallroomTime: 8:00 p.m. until 1:00 a.m.Ticket Price: $15 ppLive Music by “My Friend Scott” - Cash Bar & Food – Dress is Casual
Saturday – July 4
Powerboats By The Bay Location: Centennial Park on 10th StreetTime: 10:00 a.m. until 6:00 p.m. Free Admission – No Coolers AllowedSee Powerboats on display, meet special guests, enjoy great food, vendors, and live entertainmentBayfront Fireworks Spectacular!!! Location: Best viewing along the Sarasota Bayfront near Island ParkTime: 9:00 p.m.Please consider bringing a cash donation or a new infant/children’s item for The Florida Center
Sunday – July 5
Suncoast Offshore Grand Prix Boat RaceLocation: Off Lido Beach (Between New Pass and Big Pass)Time: 2 Heats at 11:00 a.m. and 1:00 p.m. (Subject to Change)Live “Flag to Flag” Coverage on radio and televisionRace Awards CeremonyLocation: Hyatt Sarasota BallroomTime: 5:00 p.m. until 6:30 p.m. – Free AdmissionCelebrate with winning race teams!

Celebrate Sarasota Earth Day 2009 with a Green Commitment

To celebrate Earth Day I am posting my seven best “Green Ideas” that will save energy, money and make for a healthier living environment. If you haven' t implemented any of these suggestions try to start small and make an Earth Day commitment to at least one green idea. Like anything in life, the small things add up.

1. Buy a programmable thermostat and reduce your energy consumption by planning your energy needs.
2. Avoid buying plastic bottled water. Try to reuse everything, especially plastics…and recycle.
3. Reduce your water use. Make sure you have low-flow faucets, shower heads, and toilets.
4. Buy locally made food products and locally produced services. Healthy food, environment and economy. Try a local Farmers Market.
5. Use compact fluorescent light bulbs. By using energy-efficient light bulbs you will save energy and money.
6. Turn off lights and electronics when you leave the room. Unplug your cell phone charger from the wall when not using it. Turn off energy strips and surge protectors when not in use (especially overnight).
7. Recycle your paper, plastics and other items that your local waste pick-up will take.

Thought for the Day

Here is a saying I like that is attributed to Mother Theresa...I'm not so sure its her exact words but I like the sentiment.

"The only thing you take with you when you die is the love you gave away".

Mother Theresa

Fun thing to do In the Sarasota/Bradenton Area: Ringling College of Art and Design unvails its newest emerging artists!

If you love art or just need something to do this weekend, why not stop by Sarasota's Ringling College of Art and Design as they unvail their newest emerging artists! This Saturday, January 31st from 10:00 a.m. to 3:00 p.m. You will have the opportunity to experience this exibit and purchase their artwork as well. If you enjoy art or dabble in it yourself don't miss this one day event. Exibit will also showcase cutting edge trends and materials from art suppliers.
Event Location:
Ringling College of Art and Design
Ulla Searing Student Center Exhibition Hall 2700 North Tamiami Trail Sarasota, Florida 34234
941.359.7505
Corner of U.S. 41 N./Tamiami Trail & Dr. Martin Luther King Jr. Way.

2nd Annual Green Homes Expo
Sponsors: Sarasota & Venice Realtor Associations
March 27, 2009
2:00 p.m. to 7:00 p.m.



Chelsea Center
2506 Gulf Gate Drive
Sarasota, FL 34231



Free! Public Invited!



Exhibitors will showcase


• Indoor air and water quality
• Green home construction
• Solar products
• Water conservation techniques
• Florida-friendly landscaping
• Green home cleaning products
• Natural pest control
• Energy efficient products

Please call me at #941.586.9635 if you have Questions or would like to participate.

Real Estate Term You Should Know

CC and Rs

Covenants, conditions and restrictions. The basic rules establishing the rights and obligations of owners (and their successors in interest) of real property within a subdivision or other tract of land in relation to other owners within the same subdivision or tract in relation to an association of owners organized for the purpose of operating and maintaining property commonly owned by the individual owners.