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Mid Bay Bridge Construction in Destin FL
February 8th, 2010 5:43 PM
While construction continues on the new road that will run from Range Road in Niceville across the Choctawhatchee Bay to Destin (route 293), otherwise known as the Mid Bay Bridge, decisions are being made in regards to expansion of the bridge from a two lane bridge to a four lane bridge.  Traffic across the bridge has diminished over the past year, probably due to the lag in the US Economy.  Because of the lighter-than-expected traffic patterns, the expansion of the bridge has been put off for 4 years.  The number of sunpass drivers has actually increased, but the number of full price vehicles crossing the bridge has diminished, resulting in diminished revenues from the bridge.
Posted by Myke Triebold on February 8th, 2010 5:43 PMPost a Comment (0)

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Statewide Open House slated for April 10 and 11!
February 15th, 2010 9:25 AM
April 10 and 11, Florida will be the site of a statewide open house event.  If you are a serious homebuyer, this might be your last chance to take advantage of the 8000 tax credit for first time homebuyers or 6500 credit for existing homeowners hoping to move up to more expensive home.  The deadline for this credit is this--you must be under contract by April 30 and be closed sales by June 30!!  For more information you can contact me or check out my website at www.DestinHomeRealtor.com.
Posted by Myke Triebold on February 15th, 2010 9:25 AMPost a Comment (0)

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Tax Credit Information
February 15th, 2010 9:23 AM
Definitive information regarding the tax credit is as follows:  You must have a contract in place by the end of April, and the best advice I can give you is to consult a Realtor now about qualification criteria and options in your area. Repeat buyers do not have to sell their existing home, but all buyers must occupy the property they purchase as a primary residence to qualify for the tax credit. Buyers who have a contract in place by April 30, 2010, have until June 30, 2010, to finalize the transaction to get a credit of up to $8,000 for first-time buyers and $6,500 for repeat buyers.
Posted by Myke Triebold on February 15th, 2010 9:23 AMPost a Comment (0)

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FHA Loan Qualifications!! Take Advantage of Tax Credit!!
February 15th, 2010 9:22 AM

No minimum credit score –FHA does not have a minimum credit score requirement. The FHA underwriter will evaluate the entire credit profile to determine the borrower’s likelihood of repayment. Past credit issues may be overlooked if new credit has been re-established. Also, other compensating factors may apply.

Bankruptcy okay – Chapter 7 bankruptcies are allowed if discharged over 2 years ago (or 1 year with extenuating circumstances). Chapter 13 bankruptcies are allowed with a minimum of 1 year of on time plan repayment and trustee approval.

Less Money Needed - FHA loans allow the seller to pay up to 6% of the sales price toward the closing costs and only require a 3.5% down payment.

Housing History– FHA does not require a rental or other housing history if it is not available.

Non-occupying co-borrower allowed – FHA allows a non-occupying relative to co-sign the mortgage. The non-occupant’s income and assets can be used for qualification purposes. This is generally used for parents to help their children buy a home.

Property types - 1-4 unit, condos, town homes, modular homes, and manufactured homes .

No cash reserves required –  FHA does not require you to have cash reserves on 1-2 unit properties.

Posted by Myke Triebold on February 15th, 2010 9:22 AMPost a Comment (0)

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New Walmart Comes to Niceville
February 8th, 2010 5:45 PM
Up to this point, most residents of Niceville have had to pay a toll to access the closest Walmart located in Destin.  This week it was announced that Walmart will be completing construction of a newly designed walmart store in Niceville. It will be a newly designed Walmart rather than the "warehouse" look of previous stores.  This is a prototype of the store to come in the future.  The trucks are now rolling after some months of delay while hurdles were crossed for environmental concerns
Posted by Myke Triebold on February 8th, 2010 5:45 PMPost a Comment (0)

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