WOW! If the mortgage tax deduction goes away this will hurt ALL homeowners. Unlike my home where we have to live within our means, our governments continues to spend more money than it takes in and rather than tighten the belt they want to raise taxes and do away with crucial tax deductions that have helped out us middle class people for as long as I have been a homeowner. For all the latest news in real estate please read by blog at


Mortgage interest tax deduction

Diminishing or ending the mortgage-tax break, especially for high-income taxpayers, is likely to be included in that discussion, the Times said of the deduction long seen as untouchable.

The National Association of Realtors has strongly opposed eliminating the mortgage-interest deduction for years, saying it “could endanger property values.”

Association President Gary Thomas told the Times in an email Monday, “It has always been the NAR’s position that the mortgage interest deduction is vital to the stability of the American housing market and economy, and we will remain vigilant in opposing any future plan that modifies or excludes the deductibility of mortgage interest.”

The conservative Tax Foundation says economists are “basically united in their opposition” to the deduction. It says giving a tax subsidy to housing skews investment toward houses and away from factories, equipment and other assets it says are more productive.

Households saved $83 billion they would have paid in taxes in 2010 with the mortgage-interest deduction, the libertarian Reason Foundation says. Higher earners realized most of those savings.

The tax code could be changed in a variety of ways to increase tax revenue from higher earners, the Times said. The interest deduction relating to second homes could be ended, the newspaper gave as an example. Or the cap on mortgage debt eligible for the interest-rate deduction could be reduced.

At present, interest is deductible on only the first $1 million of debt used for acquiring, constructing or substantially improving a home.

Before the Tax Reform Act of 1986, the interest on all personal loans – including credit card debt – was deductible. The act eliminated that broad deduction but created the narrower home-mortgage interest deduction under the theory it would encourage homeownership.

Other countries with high homeownership have phased out the mortgage-interest deduction, the Times said.

Copyright © United Press International 2012



Wow….Wells Fargo’s aggressive rates have really paid off for them! If you need contact information for a local Wells Fargo rep please email me or give me a call. Rich Kemper….check me out on the web at

Biggest mortgage servicers and lenders

DALLAS – Nov. 21, 2012 – According to Mortgage Daily’s third quarter report, residential originations rose 11 percent since the second quarter. Total mortgage production hit $475 billion. HARP 2.0 activity helped boost the third quarter numbers.

When comparing lenders, individual market share was a little less concentrated at the top during the third quarter. However, business improved since the second quarter, and, according to Mortgage Daily, the uptick should hold at least through 2012. It predicts fourth quarter results will mirror the uptick seen in the third quarter.

“The servicing landscape is undergoing a transformation,” the company says in a release.

FHA loans accounted for about 13 percent of third quarter originations, a slight decline from the 14 percent in the second quarter. Fannie Mae and Freddie Mac were responsible for around 74 percent of third quarter activity compared to 73 percent in the second quarter.

While the five biggest lenders had the same rank in originations that they did in the second quarter, all but Quicken Loans and Bank of America saw a decline in market share. Combined share for the top five was 53 percent; in the second quarter, the top five had a 54 percent share compared to 54 percent in the second quarter.

Biggest Q3 lenders
1. Wells 29.3 percent
2. Chase 10.0 percent
3. USBank 4.5 percent
4. BofA 4.5 percent
5. Quicken 4.2 percent

PennyMac achieved the biggest increase from the second quarter, then Stonegate Mortgage, United Shore Financial Services and Quicken. Fifth Third had the worst performance.

Compared to the third-quarter 2011, PennyMac had the biggest gain. Next were Stonegate and United Shore. The worst record was Ally Financial’s.

A shakeup in progress is likely to significantly alter the biggest servicer lineup. Ocwen Financial plans to acquire Homeward Residential and ResCap mortgage assets. Nationstar Mortgage and Walter Investment each reported servicing rights of at least $500 billion in their acquisition pipelines.

Biggest mortgage servicers at the end of the third quarter
1. Wells Fargo
2. BofA
3. Chase
4. Citigroup
5. USBank

© 2012 Florida Realtors®


While new home starts are up so are the prices! I have received 2 emails this week from Tampa builders stating that the base model prices are going up by $4000. There are still some great deals on builder inventory year end close outs in the Riverview/Lithia area. Let me help negotiate a great purchase price for you before the end of the year. Check me out on the web at


U.S. new home starts jump to fastest pace in 4 years

WASHINGTON (AP) – Nov. 20, 2012 – U.S. builders started construction last month on the most homes and apartments since July 2008, more evidence that the housing recovery is gaining momentum.

The Commerce Department said Tuesday that builders broke ground on homes in October at a seasonally adjusted annual rate of 894,000. That’s a 3.6 percent gain from September.

Single-family home construction dipped 0.2 percent to an annual rate of 594,000, after hitting the fastest rate in four years in the previous month. Apartment construction, which is more volatile from month to month, rose 10 percent.

Applications for building permits, a sign of future construction, fell 2.7 percent to 866,000, after jumping 12 percent in September to a four-year high. Still, permit applications to build single-family homes rose to their highest level since July 2008.

Housing starts are 87 percent above the annual rate of 478,000 in April 2009, the recession low. That’s still short of the 1.5 million annual rate considered healthy.

The housing market has been making consistent gains this year, helping prop up an economy that’s being squeezed by a global slowdown and looming spending cuts and tax increases.

Builder confidence rose to its highest level in six and a half years, according to a survey by the National Association of Home Builders/Wells Fargo. Their index of builder sentiment rose to 46 this month, up from 41 in October. It was the highest reading since May 2006, just before the housing bubble burst.

Readings below 50 signal negative sentiment about the housing market. The index has been rising since October 2011, when it was 17. It has surged 27 points in the past 12 months, the sharpest annual increase on record.

Sales of previously occupied homes rose 2.1 percent to 4.79 million in October, the National Association of Realtors said. Sales are near their highest level in five years, excluding temporary spikes in 2009 and 2010 when a homebuyer tax credit boosted purchases.

A key factor fueling the gains is a gradually improving economy, which has increased the number of people looking for homes. At the same time, fewer homes are available for sale. The low supply is helping push up prices.

In addition, mortgage rates have hit all-time lows. And rents are rising, making the purchase of a single-family home or condominium more attractive.

Though new homes represent less than 20 percent of the housing sales market, they have an outsize impact on the economy. Each home built creates an average of three jobs for a year and generates about $90,000 in tax revenue, according to data from the home builders group.
AP LogoCopyright © 2012 The Associated Press, Christopher S. Rugaber, AP economics writer. All rights reserved.


As a realtor I have noticed the same thing! I’m glad the investor market is signaling the same thing. As a result of fewer foreclosures prices are starting to rise. Don’t miss the opportunity to purchase a home while prices are low and interest rates remail flat. I would love to help you find your dream home. As always, you can call me, email me, or text me.  


Investors see shrinking 2-year window to buy up REOs


NEW YORK – Nov. 16, 2012 – The big discounts in the housing market are fading, and investors are taking notice that time is ticking. Blackstone Group LP, one of the world’s largest private-equity firms, says that investors likely have less than two years to buy up foreclosed U.S. homes as prices rise and supplies shrink.

“Prices are starting to move faster,” Jonathan Gray, global head of real estate for Blackstone, told Bloomberg. “That’s one of the risks that emerge as more people like us get into the space and as individual homeowner confidence grows. Frankly, buying a home today is pretty compelling.”

Blackstone has spent about $1.5 billion on 10,000 foreclosed homes this year alone. It is the biggest buyer of single-family homes in the nation. According to Blackstone, the investment firm purchases $100 million in these kinds of properties per week. The strategy is to purchase foreclosed single-family homes at steep discounts and turn them into rentals.

“The recovery in house prices could surprise people,” Gray told Bloomberg. “They have just gotten beaten down so much and we’re not building enough to keep up with the population growth. Affordability is there. I think as homeowners get a little bit of confidence, we will steadily have more people lean toward buying homes, faster home-price appreciation, which will be good for this investment strategy and good for the economy at large.”

Source: “Blackstone Sees 2-Year Window to Buy Distressed Homes: Mortgages,” Bloomberg (Nov. 14, 2012)

© Copyright 2012 INFORMATION, INC. Bethesda, MD (301) 215-4688


The condensed news from the election in Florida yesterday. Please remember to pass my name along to anyone you may know who is buying, selling, or in need of a professional property manager in the Tampa area.
Election 2012: 3 property tax amendments pass

TALLAHASSEE, Fla. – Nov. 7, 2012 – Florida voters passed three property tax amendments to the state constitution favored by Florida Realtors. In addition, a number of Florida Realtors PAC candidates won their respective districts.

However, the state Realtor association also backed another property tax change for the constitution, Amendment 4, that failed to get the 60 percent voter approval rating required under Florida law.

“The passage of three property tax amendments will offer relief to the Floridians who need it most – our disabled veterans, firefighters, seniors and their families,” says Summer Greene, 2012 Florida Realtors president. “We’re also thrilled that many of the candidates ready to help families and promote real estate industry growth in Florida won their respective races. In some cases, the winning candidate is one of our own. I’m very proud to report that a number of Realtors ran and won.”

Florida Realtors PAC candidates

“We need lawmakers in the Florida House and Senate who understand homeowners’ needs and the Florida real estate industry, and I’m proud to report that 93 percent of Florida Realtors PAC candidates won their respective races,” says Greene. “When selecting lawmakers, we transcended politics and backed both Democrats and Republicans.

“Thanks to Florida Realtors PAC money, we’re in a strong position to accomplish great things in 2013,” adds Greene. “I would like to thank all the Realtors in Florida who gave generously of their time, talent and support to make this possible. We couldn’t have done it without you.”

While not all races are official, the breakdown of the 2013 Florida Legislature is becoming clearer, though a few races are close enough to force a mandatory recount.

Currently, it appears the Florida House will have 76 Republicans and 43 Democrats, with a recount expected in one district. In the Senate, the partisan balance is 26 Republicans and 14 Democrats.

For a complete list of Florida Realtors PAC-supported candidates who won their respective races, visit theLegislative page of Florida Realtors’ website.

Amendments passed by voters

The following amendments received at least 60 percent voter approval and became part of the Florida Constitution:
• Amendment 2 allows any U.S. veteran “disabled as the result of a combat injury” to receive a property tax break. Currently, only disabled veterans who lived in Florida when the injury occurred can benefit. Effective date: Jan. 1, 2013.
• Amendment 9 allows a property tax break exemption to the spouse of military veterans or first responders – law enforcement officers, correctional officers, firefighters, emergency medical technicians or paramedics – killed in active duty. Effective date: Jan. 1, 2013.
• Amendment 11 gives local governments the authority to create a new homestead tax exemption for seniors 65 and older, providing they’ve lived in the same home for at least 25 years, the home has a just value less than $250,000, and the homeowner fits a low-income classification.

Amendment 4

“We’re disappointed that Amendment 4 failed to pass, but we knew the challenges going in,” says John Sebree, senior vice president of public policy for Florida Realtors. “I believe in a normal election year, it would have passed. Unfortunately, 2012 was anything but normal.”

While voters responded positively to the Amendment 4 message, too few may have heard it. A heated presidential election overrode local issues, and with 10 other amendments on the Florida ballot – the longest one in Florida history – voters had a number of decisions to make.

“Even our very successful ‘No on 4’ campaign two years ago worked against us,” says Sebree. “We favored the new Amendment 4 and switched to a ‘Yes on 4’ campaign. Unfortunately, our opponents – largely local governments with access to taxpayer dollars – took over our old campaign. They used the same consultant and the same logo. Even their yard signs looked similar.”

© 2012 Florida Realtors®


Related Topics: Florida Legislature



We need to keep our eye on the interest rates….one of my clients closes on an FHA mortgage last week at 3.25% and now I see they are at 3.5% this week. If you know anyone that is interested in buying a home now is a really good time while prices are down and interest rates are still low! Rich Kemper

As your Mortgage Professional, I have the training and experience to provide solutions to making your Clients dreams of Homeownership a Reality!!!!  Please forward my information to your Realtor/Builder Associates, Clients, Friends and Family who could benefit.  We know everyone needs someone who will look out for their best interest…..PLEASE CALL TO FIND OUR WHAT OUR PURCHASE & REFINANCE SPECIALSARE!!!!!                                                            


Conventional…30Yr Fixed  3.625%(4.036APR)    20Yr Fixed  3.625%(4.072APR)

                        15Yr Fixed  3.250%(3.983APR)

ARM’s…3/1ARM  3.250%(3.655APR)     5/1ARM  3.000%(3.401APR)     



FHA…                                              VA…100% Financing       

30Yr Fixed  3.500%(3.948APR)         30Yr Fixed  3.500%(3.805APR)           

15Yr Fixed  3.375%(3.820APR)         15Yr Fixed  3.375%(4.150APR)               


USDA up to 102%LTV(BACK….but Funds may be Short Lived)

30Yr Fixed 3.625%(4.036APR) 


DOCTOR LOAN up to 100% Financingwith NO Private Mortgage Insurance

30Yr Fixed  4.250%(4.672APR)    up to $650K


Construction Perm

30Yr Fixed 4.000%(4.418APR) 1x Close                       


HASP/HARP2 Max LTV based on Servicer of Mortgage

30Yr Fixed  3.75%(4.163APR)


**Rates Stated above are ONLY estimates and are subject to change without notice; Rates are based on Clients overall Profile and are NOT based on any $ Figures**

APR calculated on Loan Amnt of $150K


I look forward to earning your Business and working together.

Should you have any questions, concerns and/or need anything addt’l please contact me.


God Bless,

Shelia Marshall /FIFTH THIRD BANK    NMLS#277964

I ASK, LISTEN & SOLVE….Local, Friendly

P(813)765-3557    Email:

The BEST COMPLIMENT I can receive is a Personal REFERRAL….Remember I never know where my next Referral will come from but my Business is totally dependant on them!!  I appreciate you passing my Name to your Family,Friends and Acquaintances and don’t forget your Church’s and Civic Organizations!!

“Life is 10% what happens to you and 90% how you respond”