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?
