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Category: Real Estate

Recognizing Mortgage Fraud

Florida was recently ranked in a Core-Logic report as one of top three states in the country with a mortgage fraud risk. The other two states in the country with particularly high mortgage fraud rates include New Jersey and New York. Also according to the report, the risk of fraud in 2018 rose 10% as compared to 2017. In this current climate, Florida lenders must be particularly careful and proactive in preventing mortgage fraud. It helps to understand some of the important details about how mor[...]

What Florida’s New Private Beach Ordinance Means for You

  Earlier in 2018, Governor Scott signed a bill into law that had a substantial impact on beachfront communities in Florida as well as businesses in the surrounding area. While the exact impact that this law will have on many pieces of Florida property is uncertain, some people have responded to the law as a significant limitation on the rights of property owners. The Basis of Florida Beach Access Ordinances Beach access ordinances in Florida are based on the legal principle of “customar[...]

Florida Voters Poised to Increase Homestead Property Tax Exemption

Florida residents are poised to vote on an amendment called ”Increased Homestead Property Tax Exemption,” which if passed will give an additional tax advantage to homestead property that has an assessed value of greater than $100,000 and less than $125,000. Meanwhile, homestead property that is valued at greater than $125,000 would receive the entire savings. It is important to note that this valuation is based on the home’s assessed value rather than its market value. For qualifying membe[...]

What You Should Know About Fractional Investment

  Unfortunately, not everyone has the resources to independently fund real estate investment. To increase the number of people who are able to become involved in real estate investments, fractional investments were created, which allow several individuals to become involved in real estate projects. One of the effects of this new law has been that more people are now allowed to become involved with real estate projects. Many people, however, still have questions about how fractional investme[...]

What are Section 1031 Like-Kind Exchanges?

If you sell a piece of investment property, you will often be required to pay tax on it, as well. In situations in which a person then uses these gains to buy another piece of investment property, that person will likely be taxed a second time. Section 1031 of the tax code offers an investor the option to only pay taxes once on certain types of investment properties. Because Section 1031 can be particularly advantageous for investors, it is important for investors to understand how this section [...]

Reasons Real Estate Agents Suggest Remodeling

  Deciding to sell a house is never something that happens overnight. Changes in employment, financial circumstances, or family needs may all contribute to your desire to purchase a new home after selling your current one. Unfortunately, the news that you may need to make some changes to your beloved home may make the prospect of selling less appealing even after you have made up your mind. If you have been asked to update or remodel your home, it is important to know the reasons real esta[...]

Why Sellers Ignore Their Realtors’ Advice           

The real estate market has always fluctuated, with various issues impacting how economists view the strength of the real estate industry as a whole. In a recent study, several housing markets, including the Tampa-St. Petersburg market, were considered overvalued, meaning the prices were not sustainable long-term. This news has started to alarm both buyers and sellers, encouraging some to hurry forward with their real estate transactions. Buyers worry that they will have a harder time qualifying [...]

Tips for Purchasing a Short Sale Property

Purchasing a short sale listing gives buyers a unique opportunity to acquire an attractive home at a discounted rate. Unlike a foreclosure, most short sales have been occupied either right up to the sale or have only been unoccupied for a very short period of time. This reduces the chances of a buyer having to spend a great deal of money rehabbing a property and cutting into their potential profits. If you and your real estate clients are looking at short sale properties, here are a few tips tha[...]

Pre-Closing Checklist for Sellers

Over the past few years the Florida real estate market has fluctuated wildly, creating apprehension for both buyers and sellers. In 2017, the market experienced a strong rebound, making it possible for sellers to benefit from rising property values. Sellers who want to benefit from the pricing increase and slight inventory decrease are eager to list their properties, expecting a quick sale. Unfortunately, even in a seller-friendly market it is possible for a small oversight to sour or completely[...]

What Not to do After Qualifying for a Mortgage Loan

Finding a lender is probably the most important step in the home buying process. Shopping for a house knowing that you have been pre-approved for a certain amount gives both the buyer and seller a sense of security. Unfortunately, some new homebuyers do not realize that getting pre-approved for a mortgage loan does not guarantee that the bank will pay the seller at closing. Making certain financial choices after being prequalified can drastically decrease your chances of having your loan funded.[...]