Florida Real Estate News

It’s a buyer’s "make an offer" market. Everyone knows that.

What a lot of buyers don’t know is that if cash out of pocket at closing is one of their impediments to buying, that they can solve that issue in the price negotiation with a seller.

Most lenders will allow a seller to contribute up to to 6% in "seller incentives" to a buyer for approved line items at closing. If a buyer is going to offer a seller a lower purchase price, part of the offer can involve the seller contributing up to the full 6% to the buyer’s costs at closing. In addition to standard closing costs on the transaction the items picked up by the seller could also include points to buy down the interest rate or even a decorating allowance.

If the buyer has not yet selected a lender, a contract addendum could read something to the effect that the seller will contribute 6% of the sales price to buyer’s closing costs in a manner acceptable to buyer’s lender. When the buyer settles on a lender, the lender will tell them what can be paid by the seller per their guidelines, and the closing statement is prepared accordingly.

So just what is Property Tax Portability? Recent Florida legislation allows residents that are moving from one primary residence to another to bring the accrued property tax savings on the taxable value of their existing homestead property with them to their new primary residence. This can mean up to a $500,000 decrease in the taxable value of the new home, which translates into a significantly lower property tax bill. Under the old "Save Our Homes" legislation, Florida homestead residences are protected to a maximum 3 percent increase in the assessed value each year. Without the portability provision, if you moved from one homestead to a new one, you lost all of the assessed value savings created by Save Our Homes and your new home was assessed at current market value. The Portability Amendment makes that accrued tax savings "portable" so you can transfer up to $500,000 of your accrued Save Our Homes benefit to your new home. EXAMPLE: You sell your current Florida Homestead that has an Assessed Value of $200,000 and a Just (Market) Value of $350,000. $350,000 – $200,000 = $150,000 in Tax Benefit. You buy a new home for $400,000. The $150,000 SOH tax benefit is applied to the new homes Just (Market) Value to creates a lower Assessed Value. So if you own a home in Florida and are considering buying a new home while market prices are at historical lows, a dramatic change in property taxes may not be something to influence your decision. Homeowners who sell one home in order to move into another full time, will find that the taxes on their new property are adjusted to reflect the savings from their old home.

It might not be what you think. The $8,000 first time homebuyer tax credit provided for home purchases in 2009 has a few definition wrinkles that include more people in the incentive than I originally thought. According to the IRS newsroom website, a first time homebuyer is anyone that has not owned a home in the last three years or had a home destroyed by a natural disaster. Its confusing. Maybe they should have called it "the $8,000 recent homebuyer tax credit". Anyway, there are quite a few terms and qualifications. Here is a link to some information that I pulled from the IRS newsroom site: LINK TO IRS NEWSROOM. Anyone making a purchase might want to check it out.

When you hear the term Florida real estate used, you understand right away that the properties involved are the best for luxury and style. And even through the economic downturn, none of the things that have made Florida waterfront communities the best in the nation have changed. All through the Sunshine State, these Florida waterfront communities have managed to keep their dignity and stay fundamentally sound and elegant via the companies that look after them, like Cranewoods Developments.

When you take a look at one oceanfront home in Ponce Inlet you’ll see the point. This 74,000-square-foot home is nestled just south of Daytona Beach and boasts some of the finest architecture that you will be able to find anywhere. It’s important to remember here that Ponce Inlet has both the beauty of natural surroundings and is just minutes from all the amenities that the cities of Orlando and Daytona Beach have to offer.

Which is to say nothing of the home itself. The minute you walk through the mahogany door you’ll be greeted by the exquisite indoor pool and other fine architectural elements that make this home one of the best buys in Florida real estate.

It’s important to remember that when you’re looking for upscale homes anywhere among Florida waterfront communities, the name of Cranewoods Developments should be at the top of your list. These are the people that have taken the time and care to ensure that the best in Florida real estate has remained pristine during the economic downturn.

It’s not hard to imagine that you’d find the most elegant lofts in the heart of Jacksonville’s historic district. When you opt for one of these richly appointed designed you’ll be right in the center of the town’s Five Points district and North Florida’s scenic St. Johns River. Now as they say location is everything when it comes to getting the right real estate and that’s certainly no exception here. These are the lofts that are low scale too in the sense that they building they are housed in is only three stories and that’s just another great selling feature of these Jacksonville Florida contemporary lofts.

And as everyone knows, Jacksonville Real Estate is all about richly appointed style and luxury. And these Chelsae Lofts are no exception. These are the condos that include soaring ten foot ceilings and the kind of open flooring plans that have proven themselves popular over the years with loft enthusiasts.

And these are the economic times where people looking to get a deal on the the kind of Florida real estate that they thought was out of their reach can rethink that option. As the saying goes that every dark cloud has a silver lining, there are options for great primary residences, rental properties or secondary homes.

For a luxurious experience at a price that’s reasonable, the savvy real estate buyer will want to look into the Chelsea Lofts that are are on the best attractions in today’s Jacksonville Real Estate offerings

One of the things that you’re going to want to think about when you look into buying Florida real estate is the benefit of living in a certain area. If you make the choice to buy a home that’s near or in St. Augustine, you’ll find that there are plenty of things that you’ll be able to do.

In other words, if you’re thinking about living in or near St. Augustine, you’re going to find that there is plenty to do. The summer months are ideal for parasailing, getting out on a boat, spending time on the beach, surfing and even scuba diving. There are festivals throughout the year, plenty of great opportunities to go shopping, check out the arts and more.

Of course, at other points in time you will find yourself wanting to be more laid back. A great meal and an evening carriage ride through the city, checking out an art museum or even checking out some of the historic sites around town can be the ideal solution.

When you live in a great area – which you will be doing if you make the choice to invest in Florida real estate – you’re going to find that it isn’t just about the great homes that you’ll be able to look at. Buying Florida real estate is all about knowing that you’ll be in a great area with plenty to do – regardless of what your interests are and what you feel passionate about doing.

Now that the football season has come to an end for the Jacksonville Jaguars (which, depending on how you look at it is a bit of a blessing as the team didn’t have the best season ever), there are some folks who are living in Jacksonville, Ponce Inlet, Jacksonville Beach, St. Augustine and similar areas who might find themselves wondering what they are going to do with their time. As sports fans, after all, there’s a tendency to want to be able to do more to keep up with what’s going on in the sporting community.

Fortunately, those who are living in the greater Jacksonville area are going to find that there are plenty of great options:

• Love basketball? Make the drive out to Orlando – either to check out the Magic or to see the team that they are playing against.
• Love rugby? The Leeds Rhinos are heading back to the area for their pre-season training.
• Passionate about baseball? Spring training, college ball and area minor league teams are going to be getting their start in the near future.

In other words, if you’re a sports fan in the Jacksonville area, you’re going to find that there are plenty of great opportunities; the end of the NFL season is just a beginning.

When it comes to looking for Florida, different people are going to find themselves looking for something completely different than others. Just because you are looking into Florida real estate doesn’t mean that you’re looking for the same things – some people will be looking for coastal real estate in Florida while others might be just as content to look at living inland; some folks are going to be looking into condos while others will look at townhomes and others will look at single family homes.

However, regardless of what you are looking for when you’re looking for Florida real estate (and especially if you’re looking for real estate in places like Ponce Inlet, Jacksonville Beach, St. Augustine, Jacksonville and similar communities that are located on the “First Coast”), you’re going to find that there are some key things to consider:

• Make sure you know what your sense of style is.
• Know how much space you want or need your home to have.
• Focus on whether you’re looking into a home for a permanent residence or simply a vacation property.
• Get a sense of what you’re looking for in your community.

Just by taking these steps when you’re thinking about buying Florida real estate, you can be sure that you’re coming closer to finding the home that’s right for you.

One of the great things about living in Jacksonville, Ponce Inlet, St. Augustine and other similar areas is that it creates the opportunity to interact with the environment in different ways. Those who want to get out there and simply see what’s out there will be able to look to the area’s rivers and coastline and to see the natural beauty that exists. Those who are passionate about the environment who are living on Florida’s First Coast are also going to find that they are in a position to learn a lot about wildlife that is natural to the area.

One way to explore the Florida environment – especially when you’ve got kids in the family – is to spend some time at the Jacksonville Zoo where you will be able to learn more about local species as well:

(source) Jacksonville Zoo and Gardens announced the arrival of 15 new American alligators that were released into its Wild Florida exhibit. On November 26th crowds of Zoo visitors watched in awe as the Herpetology staff carried the alligators into the exhibit, removed the tape from around their large mouths and coaxed them into the water as the animals hissed and snapped. The 15 females, range in size from four-to-seven feet long and weigh between 41 and 86 pounds and came from the Alligator Farm in St. Augustine, Florida where they were all hatched. The new alligators replaced the six that were over 50 years-of-age, three of which passed away over the last year, and the rest were shipped to other facilities to make room for the new residents.

Executive Director, Dennis Pate said, “The alligator is one of our most popular animals. They, along with our Zoo’s other native species that live in Wild Florida, help to educate and enhance our visitors’ experience.”

When you’re checking out the exhibit, you’ll be able to learn more about maintaining the natural environment around you in the area that you choose to call home.

One of the things that you are going to find when you start to look into living in one of Florida’s First Coast communities – whether you are looking into a home in St. Augustine, Ponce Inlet, Jacksonville Beach, Daytona Beach or Jacksonville – is that while the beaches have a great deal of appeal for those living in the area, one of the biggest benefits is that there are plenty of opportunities for those who want to get into (and stay in) shape.

Simply put, those who are in the Jacksonville area and who call the First Coast home are likely to find themselves taking advantage of the health benefits of running on the beach rather than on paved surfaces – between increased resistance and less impact on one’s knees, the opportunities are idea. Likewise, those who are looking to get out and enjoy biking, those who want to take hikes through natural areas and those interested in participating in a variety of sports are going to find that the area has a lot to offer.

One of the best things about living in an area where it’s easy to just get outside and to get into shape is that all of a sudden you have fewer excuses. As a result, you’ll be able to meet your neighbors, make sure friends and to just enjoy the whole experience more.