MARKET CONDITIONS IN SOUTH FLORIDA:


1.   Is this the right time to buy or do you think prices will keep declining?  

Well....I can't answer that with a fact; nobody has a crystal ball.  I can tell you  that prices have dropped down to 20% since 2005.  Winter of 2007 is probably the best time to buy because the buying demand  is low and supply stays high.  The market picks up again in Febuary when there are alot of job relocation transfers.  You want to buy when the demand is low and supply is high.


2.  I heard Florida may reduce it's property taxes next year; is that true?

 The new property tax law was finalized in October 2007.  It was quite disappointing to many tax payers but it's a start towards more tax reduction.  The law now alows "save our home" portability, double homestead exemption, and non-homestead exemptions.   There are alot more changes...read my property tax campaign.  Click on the link below to calculate your portability taxes:


PORTABILITY ESTIMATOR


3.  When will the changes take place?  

If the voters elect this change in January 2008 , it will take into effect in your November 2008 tax bill. 


4.  What advantage is there to close by the end of the year?
If you close by the end of the year, you can qualify for the new homestead exemption to be implemented in your November 2008 bill.  If you close thereafter, you loose homestead exemption for 2008.  Also, you can deduct some of your closing cost in your Federal Tax return.


5.  What is the cost of Home Owner's Insurance in Florida?
It am happy to inform that it has reduced by almost 40% since last year.  You can now purchase home insurance (windstorm, etc.) for as little as $1200 per year on a large single family home.  Of course, the more coverage, the higher the premium.



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Thank you for visiting my site....Hey...give me a call anytime or drop me an email.   

Yours Truly,

- Teresa Santana