Pinellas Property Online

Rust mites: A common occurrence this time of year is to see oranges that have brown, rough areas. This is most likely rust mite damage (unless it smells rotten). Rust mite damage is nothing to worry about as it doesn’t affect the taste of the fruit, it just makes the outside not look completely orange.

If you want perfectly orange rinds, spray your trees in March or April with a horticultural oil (use an oil that lists paraffinic oil as the active ingredient). Always read and follow directions exactly as indicated on the label of pesticides.

 

 

Leafminers: This is another common problem on citrus. Leaves will look misshapen and one can see serpentine tunnels on the leaf surface. Mature trees are not harmed by this slight damage to their leaves. Not much control is available. Either accept the damage and do nothing, or during the spring growth flush spray the tree with horticultural oil twice, spaced two weeks apart. Very young trees can be hurt by the loss of leaf surface that leafminers cause. Young trees should be treated with horticultural oil during the spring growth flush.

 

 

If you’re in the market for a home, the world is your oyster. Interest rates are at record lows. Housing prices in many parts of the country are still depressed. And you may be eligible for a generous tax break, even if the home you buy isn’t your first.

On Nov. 6, President Obama signed legislation that provides a $6,500 tax credit for some current homeowners who buy another home. The law also extends the $8,000 tax credit for first-time homebuyers, scheduled to expire Nov. 30, until next spring.

A lot of people are interested in taking advantage of this tax break, but the expanded credit also has whipped up a lot of confusion. Here are some answers to frequently asked questions:

Q: How do I qualify for the $6,500 credit?

A: This credit is available for homebuyers who sign a binding contract on a new or existing home by April 30, 2010, and settle by July 1 (deadlines that also apply to the first-time homebuyer credit). You must have lived in your existing home for five consecutive years out of the last eight. The home you purchase must be your primary residence. However, the law doesn’t require you to sell your old home, says Bob Meighan, vice president at TurboTax, the tax software provider. You can use it as a second home or a rental and still claim the credit, he says.

Q: I sold a home I had lived in for more than five years and bought a new one in August. Do I qualify for a tax credit?

A: No. For existing homeowners, the $6,500 credit is limited to homes purchased after Nov. 6.

Q: Does the home I buy have to be more expensive than the one I own now?

Florida’s existing home sales rose in October, marking 14 months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®. October’s statewide sales also increased over sales activity in September in both the existing home and existing condominium markets.

Existing home sales rose 45 percent last month with a total of 15,160 homes sold statewide compared to 10,444 homes sold in October 2008, according to Florida Realtors. Statewide existing home sales last month increased 5.1 percent over statewide sales activity in September.

Florida Realtors also reported an 82 percent increase in statewide sales of existing condos in October compared to the previous year’s sales figure; statewide existing condo sales last month rose 6.1 percent over the total units sold in September.

All of Florida’s metropolitan statistical areas (MSAs) reported increased existing home sales and higher condo sales in October. A majority of the state’s MSAs have reported increased sales for 16 consecutive months.

Florida existing home sales:
(month-to-previous-year comparison)

• 45%

Florida existing condo sales:
(month-to-previous-year comparison)

• 82%

Florida existing home median price:

• $140,300

Florida existing condo median price:

• $105,200

Sales of existing homes surged 10 percent in October, fueled in large part by an $8,000 tax credit for first-time home buyers.

But Florida's numbers were even more amazing: Statewide, 45 percent more single family homes sold this October compared to October 2008, while condominium sales were up 82 percent.

In the Tampa-St. Petersburg-Clearwater market, home sales increased 36 percent year-to-year, and condo sales doubled.

Michelle Rios is one of those getting the $8,000 tax credit. She was already motivated to fix her credit score and qualify for a mortgage but the incentive sealed the deal.

"I'd get depressed because when you're a first time buyer you go through the ups and downs," she said.

Rios says her real estate agent repeatedly said "...just remember the $8,000 credit"...so that kept me motivated."

Now Rios plans to put her credit into savings.

"So God forbid I need it, it will be there."