REAL ESTATE INFORMATION

The Real Estate Industry in Florida is a $50 Billion Dollar a Year Business! 

Every $1 that is spent on new construction generates over $2 of economic activity.   The Real Estate Industry in Florida provides more that 700,000 jobs with annual wages of over $13 Billion Dollars.

HOMESTEAD EXEMPTION

As a Florida Resident, you are eligible to declare the first $25,000 of value on your new home as exempt for tax purposes.  The criteria for this exemption is:

  • The home was purchased before December 15th and was made your permanent residence before January 1st; for multiple owners, all must reside on the property

  • It is not rented out

  • Or claimed under another exemption.
     

Florida Homes have a distinctive personality all their own.  Most have large vaulted ceilings, screened in swimming pools, large, windows, spacious lanais (outside rear porch areas, usually near the pool) and stucco finishes outside.  You  won't find many basements or stand up attics or traditional windows.

One of the main advantages of Florida property is the value.  You get much more for the money in Florida! The typical Florida Home has two to three bedrooms, one to two baths, is single level, has a shingle or Spanish tile roof, carpet and tile floors and is made of concrete block with a stucco finish.   Vaulted ceilings and open floor plans are very common.  Pools are another common amenity and as the property values increases the value of the pool also appreciates.
Deed  Restrictions are a major Florida oddity for some new residential communities.

Some Deed Restrictions that we have seen are:

  • No chain link fences, but stockade type were allowed.

  • No satellite dishes, unless concealed by stockade fence.

  • No clothes lines, unless concealed by stockade fence.

  • No parking of RV's, campers, boats, or vehicles with your company name in your own driveway or street after certain hours (6pm to 6am).

  • Restrictions allowing your pets to roam your own property without a fence or leash.

  • In some adults only communities, children are not allowed to stay for extended periods of time - even for vacations!

These are just a few that we've encountered.  So, please read the deed restrictions, restrictive covenants, and declaration and by-laws of the homeowners association of any community you are thinking of moving into.

Some real estate experts suggest that a potential new resident travel throughout the state and rent rather than buy for the first year.  This way you can find a community that provides the activities, interests and hobbies that he or she have always wished to develop.

Home Shopping

Whether to Build a New Home or Buy an Existing Resale Home

  • When Shopping for your Florida Home, who should you use?  Who knows the area and the values of homes?  A Realtor!  Even if you're shopping for a new home to be built, take a realtor with you.  Why Use Your Realtor??

  • Price Does Not Change When You Use Your Realtor

  • On-site agents are employed by the builder

  • Builder's use their own contract with clauses written to protect them

  • You are on the builder's turf and the builder sets the rules

  • Benefits if you use a Realtor. 

                      Your Realtor will:

  • Compare resale's with models of different builders.
  • Advise on marketability of different area, price ranges and floor plans.
  • Compare prices of same model/plans from same builder at different communities.
  • Advise on options to house in terms of value.
  • Coordinate financing applications and details as necessary.
  • Assist in preparation of Sales Agreement and Clauses.
  • Coordinate timing of Certificate of Occupancy and date.
  • Coordinate walk through inspection prior to Closing.
  • Follow through with all details to Closing.

Before Looking At Any Houses There Are Things That You Better Know

  • What's the neighborhood (and the neighbors) like?
  • What are the taxes?
  • What will the utility costs be?
  • How far will I have to travel for schools, church, shopping, doctor's offices, hospitals, etc..
  • What is the traffic flow like in front, alongside, behind or near the property?
  • Are there any railroad tracks or airport flight baths overhead?
  • What are other comparable homes in the area selling for?  You don't want to overpay or get carried away with too many snazzy options or finishing touches.
  • What are the Closing Costs going to be?
  • Who has the best rates and services in the mortgage field?  Banks or Mortgage Brokers?

How  To Protect Yourself?

  • Coordinate Your Initial Visit To A Community With Your Realtor.
  • If Visiting A New Home Community Without Your Realtor:
  • Do Not Sign Anything even a harmless guest/registration book.
     
  • Tell the builder's agent that you are working with a Realtor (that takes the pressure off of you).
     
  • Give the builder's agent the business card of your Realtor, if you're interested in that builder's models.
     
  • Then you can always go back with Your Realtor.

 

 

 
 

 

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