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Clearwater Florida News - FL Legislative Session bringing Good News to Real Estate Investors and Home Owners
May 1st, 2009 Categories: Clearwater Beach Florida, Clearwater Florida, Real Estate News, Tampa Bay
Clearwater Florida - As you know we wrote last year about the need to pass the proposed Florida property tax amendment that would in my opinion have protected people buying Clearwater Beach condos or vacation homes. Many 2nd home buyers now worry about feeling the squeeze of property taxes as the Clearwater real estate markets improve.
For those who want to buy a little piece of Florida paradise and enjoy it for many years to come - they don’t want to hear anyone say a few years from now, “Well the good news is, it’s worth more if you sell it.” They tell me they want to know they can afford to keep that special family beach house or retirement home and even dream of passing it down to their children.
In addition, I still think what happened to Florida business owners during the boom of 2004-2006, especially those Clearwater Beach Mom and Pop motels along our beaches (as well as all 26 miles of our beaches for that matter) by calculating their property taxes based on “highest and best use” was awful and amounted to basically a way to force them to sell and we are all worse off for it.
I don’t think that it was fair but after 24 years of my husband constantly reminding me that “fair is a place you take your pigs” I realize my passion for the individual, small business person is personal and some may say even a little naive. Well so be it, I do believe people who want to sell should be able to sell and those that don’t want to sell - shouldn’t be basically forced too. Their businesses could never generate the income needed to pay the proposed taxes and there was no solution but to sell. This is a problem and many people have been fighting hard to see things changed.
So in a time when our best mortgage borrowers are being hit with Jumbo rates which can be basically conventional rates plus 2% and luxury beach property values are down and not get stabalized, I believe we need to make it more attractive to those who are ready willing and able to purchase to do so.
Well when I just got this early recap from the Florida Association of Realtors® I was thrilled to say the least and just had to share…as we finish the first day of May at 10pm tonight the may be good news on the horizon. Here’s their End of Session recap - maybe the peoples voices are being heard - What do you think about these proposals? …
Those that Own Homes in Clearwater or Clearwater Beach Florida may soon be happier
“The House and Senate have completed their 60th day of the 2009 legislative session. This is the day the Legislature should be adjourning “Sine Die.” However, as you have likely heard, the 2009 regular session of the Florida Legislature has been extended for a full week to finalize the budget. While the session was extended to next week, today still has that “last-day-of-session feel,” since all non-budget legislation had to be considered for final passage today if it was going to have a chance of becoming law.
And, it has been an amazing day in Tallahassee for Clearwater Realtors® and all Florida Realtors® for that matter, as most of FAR’s 2009 legislative initiatives ended in victory.
Proposed Constitutional Amendment would help Vacation Home Owners as well as Real Estate Investors in Clearwater FL
One of the final bills considered tonight was SJR 532. This constitutional amendment will:
- Ask voters to limit increases in property tax assessments on all non-homestead properties to 5 percent annually. (Remember this was pulled from the ballot last year by a Leon County Circuit Judge so let’s hope this year goes better - read more..Pinellas County Real Estate Today Loses Chance to Cut Property Taxes by up to 32%)
- First-time homebuyers in Pinellas County and around Florida could benefit, too, with an additional homestead exemption up to $100,000 on their first home.
Related Articles:
Pinellas County Real Estate Today Loses Chance to Cut Property Taxes by up to 32%
More Good News Regarding Property Tax Assessment and Capping Home Insurance Rates?
- HB 521, is the bill that puts the burden of proving that a property tax assessment is correct on the appraiser, not the property owner, also passed both chambers and heads to the Governor. Who doesn’t think this is a good idea?
- In the area of property insurance, the Legislature capped rate increases at 10 percent per year for Citizens policyholders (HB 1495). The Legislature also repealed the requirement that, effective Jan. 1, 2010, sellers of property located in a wind-borne debris region, and which has an insured value on the structure of $500,000 or more, provide prospective buyers the structure’s windstorm mitigation rating.
- Related post:Clearwater Florida Real Estate gets Florida Hotline to Home Insurance Options
- The growth management bill (SB 360) we supported passed as a big package. It includes a provision to encourage urban infill by eliminating transportation concurrency, one that allows for expedited comprehensive plan reviews and another that eliminates the development of regional impact process (DRIs) in urban areas. The bill also extends previously obtained permits and approvals by two years, creates a transition process for moving towards a mobility fee system, and streamlines and reduces inefficiency in our approach to growth management.
- Also, it appears that when theFlorida legislative budget is finalized next week, we’ll have $30 million for downpayment assistance to help “front load” the federal first-time homebuyer tax credit.” - now if we can just get the banks to give a thumbs up or down to all the short sales on their desks we’d be golden!! We are seeing lots of willing buyers and sellers - but with 80% of home sellers owing more than their homes will appraise for today we’re all feeling the bottleneck of the banks.
Related Articles: Clearwater Real Estate | Property Tax Portability Passes - Calculate Your Benefit
Also Read : Buying Clearwater Real Estate bargains - Bank owned, REO, short sales, Foreclosures So, call us today to discuss any property tax estimates or info on how we can help you buy an investment property or beach house, condos or villas on our Tampa Bay beaches.
Want to See All the Clearwater Homes for Sale?
Here’s what some of our past clients have to say about how we helped them….or check out over 20 video message here
- “you treated us like family”
- “you dig for info on each property, researched and worked hard to make sure we knew everything about the home we bought”
- “being out of state we needed someone we could trust - and that was you!”
- “we didn’t want any pressure - we worked with you a long time and there was never any pressure”
- “you are the Painless REALTORS - I’ve bought and sold homes and you handled all the details for us - thanks”
Buyers continue to tell us that selecting the best Clearwater real estate agents, online or from a distance, can be a challenge. So some of our past clients agreed to share their experiences and tell you why they think you should work with us. Meet some of our clients and now friends…we’d love to be YOUR choice too!
Give us a call so we can to discuss your needs! (727)710-8035 or (727) 710-8036
P.S. So go ahead an search all the properties for sale in the Clearwater MLS now…
and just so you know, we require no email or sign in - like everything else we do - our goal is to continue to provide you with ALL the information available so you can make the best decisions!
Copyright © 2007-2009 Jack and Cyndee Haydon, REALTORS and Clearwater Real Estate Consultants and may not be copied, reproduced, distributed, transmitted, displayed or published. All rights reserved. Plagiarism will be detected and is punishable by law.
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Clearwater Real Estate News - Stimulus Package offers First Time Home Buyers reasons to Buy Now
February 12th, 2009 Categories: Clearwater Florida, Pinellas County, Real Estate News, Tampa Bay
Clearwater Real Estate News - Understanding the Stimulus Package
Clearwater Florida - Well the stimuus package is almost a reality with Congress reaching agreement on a $789 billion stimulus package for Americans and the President expected to sign it into law, the clock may be ticking for this year’s Clearwater home buyers and homeowners. So what does this mean to you….
The final package contains two benefits related to housing and effecting Clearwater Real Estate.
Clearwater Home Buyers Good News
The first provision is fairly well-known. It gives first-time home buyers in Clearwater an $8,000 tax credit provided they purchase a home between January 1, 2009 and August 31, 2009.
The good news is this is a true tax credit.
To reduce misuse and abuse, however, the $8,000 credit is contingent on home buyers holding property for at least 3 years. If the home is sold in fewer than 3 years, the tax credit must be repaid to the government. It’s also worth noting that the date range applies closings and not sales agreements.
To qualify for this if you are buying a home the closing must occur within these 8 months to be eligible.
Clearwater Home Owners that Go Green - get Green Back
A second noteworthy feature in the package is that the stimulus package gives existing those with Clearwater homes incentive to “green” their homes. With available tax credits for energy-efficient windows and doors, furnaces and insulation, homeowners can claim larger tax deductions based on home improvement, up to $1,500.
But, just because the government provides housing-related tax benefits doesn’t mean you should just act on them blindly. Tax liability is a highly individual item and you may be ineligible for any number of reasons. Be sure to discuss your plans with a qualified accountant before committing to a plan.
Thinking of Buying or Selling a house in Clearwater Florida - We can help
If you have been thinking about buying or selling a home in the Clearwater St Petersburg Tampa area…
Contact us for a FREE quote and to find out your Tampa Mortgage options and you can search all Tampa St Petersburg and Clearwater homes for sale right now..
Call Us Today at (727) 710-8036 to hear more about how we can help you!
Copyright © 2009 Jack and Cyndee Haydon, Clearwater REALTORS and your Clearwater Real Estate Consultants specializing in Clearwater St Petersburg Tampa Real Estate and may not be copied, reproduced, distributed, transmitted, displayed or published.
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Tampa Mortgage Rates Update - November 19, 2008
November 19th, 2008 Categories: Real Estate News, Tampa Bay, Tampa Mortgages
Tampa Mortgage Rate - Lock and Close
Clearwater Florida - Yesterday we shared the new Tampa FHA Loan limits and today Brian Brady, America’s #1 Mortgage Broker give us his latest update on Tampa Mortgage Rates. If you are buying a home in the next 45 days anywhere in the Tampa Bay area including our specialty Clearwater Beach to St Petersburg luxury waterfront and Pinellas beach properties for sale- you’ll want to check this out.
“The economy is really sick:
Today’s CPI report signals deflation, or a prolonged price slide, may become another hazard facing Federal Reserve Chairman Ben S. Bernanke and President-elect Barack Obama. Deflation could worsen the economic downturn by making debts harder to pay off and countering the impact of Fed interest-rate cuts.
“The economy’s really just in horrific shape,” said Joseph LaVorgna, chief U.S. economist at Deutsche Bank Securities in New York. Fed officials will “take rates as low as they have to” to avoid “a deflation-type scenario, which now all of a sudden is very possible.”
LaVorgna predicts the Fed will cut its main rate to 0.5 percent from its current 1 percent when it meets on Dec. 16.
Fed Vice Chairman Donald Kohn said today that while the risk of deflation is “still small,” policy makers must be “aggressive” in fighting the danger. The economy “is declining right now” and will record a couple of quarters of contraction, he said in answering questions after a speech in Washington.
Fed policy makers last month forecast the U.S. economy will contract through the middle of 2009, with some officials prepared to cut interest rates further in response, according to a record of the group’s meeting.
If the Fed’s thinking of cutting rates further, why aren’t Tampa mortgage rates going down? I think it’s because the Fed has done all it can do. Future rate cuts are like that eighth scotch. Drinking that eighth scotch isn’t going to make you feel any better than the seven prior. It just might make you feel worse.
I advised folks, right after the election, to lock loans with rates under 6% if they were closing within 30 days. Today, I”m suggesting that you lock any Tampa home loan that is closing this year. Today, a 45-day lock for a 6.0% rate would costs 1.25%. While you may see rates drop below 6% , in the next 45 days, the risk of them moving higher is greater.
So if you are buying Tampa Real Estate and closing this year….”Take 6% and run.”
Tampa Mortgage Relate Articles:
- Summary of all Tampa Mortgage Rates and News Reports
- Tampa Bay FHA Loan Limits for 2008
- Tampa Mortgages Will Fed Rate Cut in October help Home Buyers in Nov and Dec 2008
Contact us for a FREE quote and to find out your Tampa Mortgage options or you can search all Tampa and Clearwater homes for sale.
Call Us Today at (727) 710-8036 to hear more about how we can help you!
Copyright © 2008 Jack and Cyndee Haydon, Clearwater REALTORS and your Clearwater Real Estate Consultants specializing in Clearwater Tampa Real Estate and may not be copied, reproduced, distributed, transmitted, displayed or published.
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