Tuesday, January 30, 2007
Cam Cam He's Our Man
Cam Cam He's Our Man If He Can't Do It Maybe Cowher Can. Well it has been 5 years since the Dolphins have made the playoffs. They are one of 3 teams in the NFL that has not done it and one of them are the Texans. Not Good. Hopefully Cam's Our Man
Don't Forget About Property Tax Reform
Charlie Crist Just Passed The Homeowners Insurance Bill. Now What About Property Tax Reform?
Now that Charlie Crist has signed the Homeowners Insurance Bill we can start to look at another pressing problem in the high Property Taxes. First let me summarize the Insurance Relief Bill. On the average all homeowners upon their renewal should be reduced approximately 22%. Homeowners who have Citizen’s Property Insurance shall get immediate relief as rates that were supposed to go up as much as 77% will be frozen and you will pay 2006’s Citizen’s rates. Most of us will not see reductions in our insurance until after June 1, 2007 or later.
One of the most integral parts of the Insurance Bill that does not seem to get much press is the fact that if our lender allows it or you do not have a mortgage you may now be able to “un-bundle” the windstorm insurance from the hazard and fire/theft insurances if your home is located west of I-95. Before, even if you did not want windstorm insurance or if your lender did not require it you had to purchase windstorm as insurance companies would not sell Hazard. Fire, and Theft insurance without Windstorm insurance. Insurance companies called that “bundling”. You might want to check with your lender to see if your lender requires windstorm insurance. If you are allowed to and decide to forego your windstorm insurance realize it is a risk, but it would save you about half of your policy.
The Homeowners Insurance Relief Bill was needed to help keep these insurance companies accountable and for homeowners to receive more affordable insurance. Now we need Property Tax Reform to decrease our out of control Property Taxes. I along with some of the most influential real estate and business practitioners have come up with a proposal. First let me tell you that the only way to decrease property taxes is to decrease the mileage rate. The mileage rate is that rate which gets multiplied by the assessed value to come up with the ad valorem property tax that you owe. Our proposal is to decrease the mileage rate to 1%. In Boca Raton the mileage rate is slightly above 2% which is the lowest in Palm Beach County. By doing this it will essentially cut our property taxes in half. However, if we are getting half of the property tax revenue we will have to get the revenue lost from somewhere and we would propose a half cent sales tax hike. By doing this it will give Florida homeowners a break in property taxes and instead of people moving out of the state to places like Georgia and North Carolina they will stay put and more people will again be moving to Florida. Keep your eyes and ears out for this proposal. If you have any questions about this proposal and the Insurance Relief Bill you may call me at 561-756-3104.
Now that Charlie Crist has signed the Homeowners Insurance Bill we can start to look at another pressing problem in the high Property Taxes. First let me summarize the Insurance Relief Bill. On the average all homeowners upon their renewal should be reduced approximately 22%. Homeowners who have Citizen’s Property Insurance shall get immediate relief as rates that were supposed to go up as much as 77% will be frozen and you will pay 2006’s Citizen’s rates. Most of us will not see reductions in our insurance until after June 1, 2007 or later.
One of the most integral parts of the Insurance Bill that does not seem to get much press is the fact that if our lender allows it or you do not have a mortgage you may now be able to “un-bundle” the windstorm insurance from the hazard and fire/theft insurances if your home is located west of I-95. Before, even if you did not want windstorm insurance or if your lender did not require it you had to purchase windstorm as insurance companies would not sell Hazard. Fire, and Theft insurance without Windstorm insurance. Insurance companies called that “bundling”. You might want to check with your lender to see if your lender requires windstorm insurance. If you are allowed to and decide to forego your windstorm insurance realize it is a risk, but it would save you about half of your policy.
The Homeowners Insurance Relief Bill was needed to help keep these insurance companies accountable and for homeowners to receive more affordable insurance. Now we need Property Tax Reform to decrease our out of control Property Taxes. I along with some of the most influential real estate and business practitioners have come up with a proposal. First let me tell you that the only way to decrease property taxes is to decrease the mileage rate. The mileage rate is that rate which gets multiplied by the assessed value to come up with the ad valorem property tax that you owe. Our proposal is to decrease the mileage rate to 1%. In Boca Raton the mileage rate is slightly above 2% which is the lowest in Palm Beach County. By doing this it will essentially cut our property taxes in half. However, if we are getting half of the property tax revenue we will have to get the revenue lost from somewhere and we would propose a half cent sales tax hike. By doing this it will give Florida homeowners a break in property taxes and instead of people moving out of the state to places like Georgia and North Carolina they will stay put and more people will again be moving to Florida. Keep your eyes and ears out for this proposal. If you have any questions about this proposal and the Insurance Relief Bill you may call me at 561-756-3104.
Wednesday, January 17, 2007
Real Estate Marking Looking Up
2005 was a great year to be in the real estate business whether professionally or personally. Everything seemed to sell within minutes or days. In 2006 we had a hard time convincing sellers that the prices are going down and are depriciating. Where it was a great time to sell in 2003-2005, it is an even better time to buy in 2007. I have seen the most amazing deals out there. No one wants to buy in a hot market just ask those people who bought in 2005 and want to sell in 2006 or 2007. It is an opportunity for all of us to buy. In the first half of January has already been great for sales not prices, but sales. I am looking forward to a great 2007. Happy New Year
Just Not Chan Gailey
I am an avid dolphins fan. I just heard a name that scares me. Chan Gailey. Anyone else please. I am hoping for Jim Mora or Cam Cameron or both would be nice. Go Dolphins. Maybe this time they can get a better draft pick than James Allen. Calling all Dolphins Fans.
Wednesday, January 10, 2007
Property Taxes Ouch!!!
The most recurring problem I have heard from customers is the high property taxes. We have seen various proposals to lower the real estate property taxes. Everything from a fixed 1% mileage rate to doubling the homestead exemption from $25,000 to $50,000. The first thought that comes to mind is where is all the excess money the government has received with the increased property taxes?
I have a tax relief proposal. Property Tax portability has come up in the past and I would like to fine tune the proposal. As long as it is your primary residence and you are purchasing a home that has higher property taxes than you should be allowed to bring your current tax bill from the property you are selling to your new home. If you are downsizing and your current tax bill is higher than what your new home's taxes would be than you can use the taxes from the new house. By doing this it will definitely help.
I have a tax relief proposal. Property Tax portability has come up in the past and I would like to fine tune the proposal. As long as it is your primary residence and you are purchasing a home that has higher property taxes than you should be allowed to bring your current tax bill from the property you are selling to your new home. If you are downsizing and your current tax bill is higher than what your new home's taxes would be than you can use the taxes from the new house. By doing this it will definitely help.
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