Northwest Florida Realtor

This is a handyman special selling "AS IS". Needs paint and finishing the new laminate floring in doorway of bath and the two bedrooms. 195 feet of road frontage and 140 feet deep on approximately .44 acre lot. Ernest money deposit of $1,000 is required unless paying by cash. PROPERTY TO BE SOLD "AS IS".

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Residential
MLS#:	354811m Prop Type: RD	ListPrice:	$239,900
Status:	Sold
Address:	7664 TUTTLE BLVD	ApproxSF:	2,450
	MILTON, FL	Bedrooms:	3
Zip:	32583	FullBaths:	3
County:	SANTA ROSA	HalfBaths:	1
MainArea:	10 Milton	#Rooms:
SubArea:	1003 East Milton	YearBuilt:	2007
Subd/Proj:	WOODLAND LAKE HTS NONE	CnstrStat:	NewConstr
ParcelID:	362N28584000C000060
ElemSch: EAST MILTON - 10 Middle: KING - 10 High: MILTON - 10
Dir:	Hwy 90 to Johnson; left on St. James; right on Lakeside Dr.; right on Tuttle, house is on left.
Legal:	WOODLAND LAKE HEIGHTS, Lot 6, Block C, as des. in OR 2351, P 254, LESS 1/2 MIN RIGHTS.

Enjoy Country Living with Class for a GREAT PRICE. This carefully crafted custom home is within view of the Blackwater River and minutes from I10. As you enter the living room you will be dazzled by the gorgeous VAULTED PINE CEILING with exposed beams and the BRAZILIAN TIGERWOOD FLOORS. You will love cooking in the open kitchen which features CUSTOM CYPRESS CABINETS, kitchen aid appliances, and lots of storage- perfect for entertaining or enjoying your family. Outside, savor the solitude on your wrap a round deck and porch, your huge yard landscaped with native plants and view of Wrights Basin. This solid house features 2 x 6 framing, Go Bolt construction, and custom metal roof. This superb home is a MUST SEE!!!! MOTIVATED SELLER!! Reasonable offers will be considered.

Agent Notes: Owner will consider owner financing. All room sizes are to be verified. Interior is almost complete. Thank you for showing this beautiful house.

 I just participated in this sale representing the buyers.

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Description:

LOVELY 4+ ACRES WITH A METAL BUILDING AND HOME SITE OVERLOOKING A PRIVATE POND. THERE WAS A NICE HOME ON THE PROPERTY THAT BURNED DOWN. WATER METER AND SEPTIC REMAIN ON SITE. GREAT ACCESS ON PAVED ROAD. THIS LISTING IS PARCELL 03-5N-23-0000-0004-0000.

Features

Utilities: Septic sewer system

Lot Features: Wooded, Clear lot

Schools

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 The credit has not only been extended, it has been improved. First-time homebuyers - anyone who hasn't owned a home in the past three years - will still get up to $8,000 to apply against their federal tax liability, but buyers who have owned their current homes at least five years will also be eligible for tax credits of up to $6,500. To qualify, buyers must sign a purchase agreement no later than April 30, 2010 and close by June 30.

Just as important, if not more so, the extension also raises income ceilings. The new version has the credit phasing out for individuals with incomes above $125,000 and for joint filers with incomes above $225,000. The phase-out increase means the new credit will be applicable to higher-priced homes (though the purchase price can't exceed $800,000); thus, stimulating sales in more expensive categories.

Wednesday the Fed stated that it will maintain the federal funds rate - the rate banks lend to each other - near zero for "an extended period" and specified for the first time that policy will stay unchanged as long as inflation expectations are stable and unemployment fails to decline. The fed funds rate is an important benchmark for other lending rates, so the Fed's pronouncement bodes well for borrowers seeking a mortgage loan.

 Unfortunately, the trend on job creation remains down. The unemployment rate rose again in October, due to employers shedding another 190,000 jobs. The unemployment rate now stands at 10.2%, the highest it has been in 26 years.

The news on the employment front is discouraging, to be sure, though recent payroll data reflect some improvement. The rate of job cuts has lessened dramatically when you consider that 741,000 jobs were shed in January alone. It's also worth noting that new claims for unemployment benefits decreased by 20,000 to 512,000 in the week ended October 31, the lowest level since January 3. And if you happen to be the-cup-is-half-full type, you can take additional solace in knowing employment figures are lagging, not leading, indicators.

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The next game for the Ice Flyers is

Havoc vs. Ice Flyers
November 12, 09
Location: Pensacola
Address: 201 E. Gregory St.
Phone: 932-0800
Huntsville Havoc vs. Pensacola Ice Flyers Game Information 6:05pm Doors Open 7:05pm Puck Drop

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Boone's goal of 120 cosponsors by 11/20 we only need 4 more cosponsors.  Call your Representative and tell them to get on board, we only have one Florida representative that has signed on, if we can get four more we can push past our goal and show that Florida is serious. 

Call your representatives.

Three Current Federal NGV Incentives 

1.  
   1. Income tax credit for purchasing new or converted NGVs:

    

Vehicle buyer is eligible for a tax credit that varies with:

The size of the vehicle and

The cleanliness of the engine (50% or 80%)

Credit value: $2,500 to $32,000 per vehicle

Provision expires: 12/31/2010

 2.
Excise tax credit of 50 cents per GGE of CNG (or LNG gallon) sold:

Credit expires on 12/31/2009

3.

Income tax credit for NGV fueling infrastructure:Lesser of 50% of cost or $50,000 per station

$2,000 for a home refueling unit

Provision expires: 12/31/2010

·

Lead Sponsors:
-
Dan Boren (D-OK); John Larson (D-CT); John Sullivan (R-OK)

Senate:Robert Menendez (D-NJ) has agreed to be the chief Democratic sponsor of the Senate companion bill

Expect identical companion legislation to be introduced before Memorial Day

NAT GAS Act Provisions

Extends existing fuel, vehicle and infrastructure credits until 12/31/2027

Makes all dedicatedNGVs eligible for 80 percent credit

Makes bi-fuel NGVs eligible for 50 percent credit

Allows the vehicle and infrastructure credits to count against the AMT provisions

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• Document that "Knowing Your Options" was posted on all properties, provided redemption/confirmation expired, and note the date posted. On tenant occupied properties, notify the rental team of the response, or lack of response, following the 10th day of posting. If it is stated that tenant is interested in renting, then confirm that the forms were submitted to the rental team within the same time frame.
• If tenant occupied and the tenant is attempting to maintain occupancy based on an existing lease or applying for a new lease, do not place the BPO order on hold. This is a recurrent problem resulting in delays in processing rental applications.
• Tenant occupied properties are eligible for a 1% higher Listing Commission. The Listing Supplement must be initially modified to reflect this. Do not wait until the property is under contract to make the change.
• OSR indicating Unknown-Occupied must be verified within 5 days and OSR updated. On 2-4 Family properties, report as tenant unless otherwise confirmed as owner.
• Do not submit partial rental applications received to the rental team. The Rental Information Form and Property Management Report must be submitted together followed by uploading the BPO.
• The agents must not accept rental funds without fully executed lease agreements, or approval to accept an existing lease. If pets are present and the tenant is applying for a new month to month lease: the agent must supply proof of liability insurance that specifically indicates the pets are included, Fannie Mae is named as additional insured, and the coverage is at least $300,000 with no more than a $500 deductible.
• AMP should submit repairs through their usual repair process but may check with the rental team for confirmation that a specific repair should be performed on an occupied property.
• Inform the agents of the Fannie Mae REO ID and the importance of using it on the subject line of all direct communications with the Rental Team. Subject line of emails: state abbreviation followed by REO ID. Example: FLD091234.  
• On 2-4 Family Properties, reference specific unit numbers when reporting / updating Case Comments.
• Current rental forms and guidelines are available at www.efanniemae.com.

If you should have any questions about the points listed above, please contact the Rental Team at reo_rental@fanniemae.com

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The revised multiple offer procedure (MOP) form. The purpose of this form is to notify the selling agents, and thereby the buyers, of a multiple offer situation and to provide the listing agent and Fannie Mae a clear indication of each buyer's response to the multiple offer situation. This form is designed to establish Fannie Mae's procedures with respect to multiple offers.

The MOP form also ensures that all selling agents understand the situation and that buyers have adequate opportunity to provide Fannie Mae with their highest and best offers when seeking to purchase one of their listings. The MOP form is required whenever more than one offer is received on a property. The form is also required in situations where additional offers are received on a property while an offer is being negotiated, but has not yet been finalized.

When multiple offers are received:

·         The listing agent must email the form to the selling agent of each of the buyers.

·         One full day is the expected timeframe for the selling agent to return the buyer's highest and best offer to the listing agent. Discuss the appropriate deadline with the Asset Management Provider (AMP) if there are circumstances which may indicate a longer time frame is needed. Notify the AMP with the date and time the MOP form is due.  

·         The selling agent should immediately return the form to the listing agent, acknowledging the multiple offer situation and the deadline.

·         Upon the deadline expiration, the selling agent should re-send the form, checking the appropriate box at the bottom of the page (rescission, no change in offer, or counter offer attached) and confirm the occupancy intention of the buyer.

If the MOP form is not received by the deadline, follow up with the selling agent to determine the action of the buyer. If at all possible, the form should be returned or there should be written communication from the selling agent indicating the buyer's decision. By using this form, misunderstandings and conflicts should be minimized, reducing liability for all agents concerned. If you should have any questions, contact your AMP.

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Use of Public Funds is Growing Quickly

Fannie Mae has closed several hundred Neighborhood Stabilization Program (NSP) - related transactions in recent months. As use of funds from this program continue to grow, it is important that you and your teams are well versed in how to work with buyers using NSP or other public funds.

Fannie Mae supports initiatives like HUD's NSP program as part of our commitment to manage disposition of our REO properties, align with our corporate mission and aid the stabilization of communities. To ensure these transactions are consistent and transparent, here is a quick reminder of what's involved:

Neighborhood Stabilization Program (NSP)

An offer from a public entity, public entity's designated partner, or an owner occupant that uses NSP funds must include the following:

• The language "See Supplement to the Real Estate Purchase Addendum attached hereto and incorporated herein by this reference." in section 38 of the purchase addendum.
• The appropriate addendum supplement. 

One entitled "NSP owner supplement" to be used when an individual is purchasing a Fannie Mae REO with NSP funds, and one entitled "NSP PE supplement" to be used when a public entity is purchasing a Fannie Mae REO with NSP funds. You may also want to reference the two guides Fannie Mae has available, which outline the process for using public funds for the purchase of Fannie Mae REO. 

If you are a public entity or housing non-profit and are interested in purchasing a pool of Fannie Mae properties, e-mail.

If you have additional questions after reviewing these materials, please contact your Fannie Mae sales representative or send inquiries to publicentity_reosales@fanniemae.com

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I received an update last week and wanted to pass this along. In an effort to make purchasing a Fannie Mae home easier for the buyer, Fannie Mae will no longer charge the buyer the cost of dewinterizing and rewinterizing a property for the purpose of a buyer's inspection.  Fannie Mae will absorb the expense for dewinterizing and rewinterizing the property.  Therefore, effective immediately, do not charge the buyer for these costs.  Follow the instructions below to ensure the dewinterization and rewinterization process and billing are handled properly:

If a Field Services company is assigned to the property, you MUST contact the Field Services company to perform the dewinterization and rewinterization.  This ensures that a single company is responsible and accountable for properly maintaining the property. 

If not assigned to FAS you contact the SAM Maintenance Vendor to perform the dewinterization and rewinterization.  Advise them to direct-bill Fannie Mae for the expense.  If the Vendor is unable to do so, they will bill you directly, and you should submit a 571 for reimbursement through the normal process.

Non- Field Services / Non-SAM  Maintenance Assigned Properties

Contact a Vendor to perform the dewinterization/rewinterization. This should be the one who performed the initial winterization whenever possible.  The Vendor will bill you directly for the dewinterization and rewinterization, and you should submit a 571 for reimbursement through the normal process.

IMPORTANT - Update the Real Estate Purchase Addendum: Please note that the current Addendum does not reflect Fannie Mae absorbing the cost of the dewinterization and rewinterization.  An updated Addendum is currently being finalized and will be distributed soon. 

 In the meantime, because the current Addendum does not reflect this new practice of Fannie Mae absorbing the expense of the dewinterization and rewinterization, you should make these changes to the form by striking thru the part charging the buyers for these charges.

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