Well Amendment 1 passed! That's good and thanks for all who voted.
Now. ReZoning. There are 46 single family homes for sale in the Country Club. That's down from 60 something. The bad news is that most have just been taken off the market - not sold.
Price are still falling and your values are shrinking. One of the reasons is the hundreds of red "No Re-Zone" signs out there. Take them down.
There isn't a resident in here that is not aware of the situation. But the folks that are trying to sell their homes are being hurt because prospective buyers see the signs and see trouble. They don't know what it is all about, so they think the worst.
The problem has to be disclosed to them before they buy anyway, so removal of the signs doesn't hide anything and at least they might show interest.
I suggest the signs be put up once a month for a day or two or before a meeting, but to leave them up is just hurting values.
Please feel free to add your comments.....and don't forget to tell a neighbor about this site!
Thursday, January 31, 2008
Wednesday, January 23, 2008
Take Action
Hello Jacaranda friends - thanks for stopping in.
Today I want to urge you to vote on the 29th. More important - vote yes on amendment one. We need a 60% yes to win. It is important. We all know that it is not the best possible solution, but it IS a step in the right direction and is far better than nothing. As always, your comments are welcome at the bottom ... and you can post anonymously!
The key components are:
Portability -Save our Homes-Homestead Exemption -10% Cap on non-Homestead Tax Increases-and Personal Property Tangible Tax
Here is an primer from the Sun Sentinel that will help explain.
That proposal, known as Amendment 1, includes several features. It would increase the existing homestead exemption for permanent Florida residents on their primary residences. Currently, the exemption is $25,000. The proposal would increase the exemption to $50,000 for all local taxes except those for schools.
The amendment also would let Floridians keep their existing Save Our Homes tax cap, which limits increases in property value assessments on homesteaded properties to no more than 3 percent a year. The plan would allow voters to transfer up to $500,000 of those savings if they move to a higher-value home elsewhere in Florida. If the new home has a lesser value, the amount of SOH tax savings that could be transferred would be determined on a percentage basis.
For non-homesteaded properties, such as rental units and houses and apartments owned by seasonal residents, the amendment would provide a 10-percent cap on annual assessment increases. Businesses would also get a $25,000 reduction on taxes paid on tangible personal property, such as office furniture.
I hope this helps!
Today I want to urge you to vote on the 29th. More important - vote yes on amendment one. We need a 60% yes to win. It is important. We all know that it is not the best possible solution, but it IS a step in the right direction and is far better than nothing. As always, your comments are welcome at the bottom ... and you can post anonymously!
The key components are:
Portability -Save our Homes-Homestead Exemption -10% Cap on non-Homestead Tax Increases-and Personal Property Tangible Tax
Here is an primer from the Sun Sentinel that will help explain.
That proposal, known as Amendment 1, includes several features. It would increase the existing homestead exemption for permanent Florida residents on their primary residences. Currently, the exemption is $25,000. The proposal would increase the exemption to $50,000 for all local taxes except those for schools.
The amendment also would let Floridians keep their existing Save Our Homes tax cap, which limits increases in property value assessments on homesteaded properties to no more than 3 percent a year. The plan would allow voters to transfer up to $500,000 of those savings if they move to a higher-value home elsewhere in Florida. If the new home has a lesser value, the amount of SOH tax savings that could be transferred would be determined on a percentage basis.
For non-homesteaded properties, such as rental units and houses and apartments owned by seasonal residents, the amendment would provide a 10-percent cap on annual assessment increases. Businesses would also get a $25,000 reduction on taxes paid on tangible personal property, such as office furniture.
I hope this helps!
Wednesday, January 2, 2008
Happy New Year
OOPS! I haven't updated in a while. But with the Holidays and all you were probably too busy to notice! This week I am going to re-print a letter from our president that should be of interest to most of us. Here goes...
To Our South Florida Friends….
As we wrap-up 2007 and turn our thoughts toward 2008, the common question that I am being asked by many of our home buyers and sellers is, “How much longer will this sluggish market last”?
While many factors help to answer this question, the simple answer is that the first signs of a recovery will be a decline in our inventory levels. The build-up of South Florida inventory began in April 2005 when Realtors® had 14,000 single-family homes and condos for sale in Miami-Dade and Broward counties. By November 2007, we had 82,000 homes and condos in inventory. These numbers are expected to increase slightly into 2008, but at monthly increases far less then the double-digit increases of 2006. Once the inventory levels show sustained monthly decreases, values will then have a chance to begin re-building. Some higher-end price ranges have already begun to see reductions in the number of properties for sale; therefore, some are saying that the recovery in selected markets has already begun.
In the short term, we’re going to continue to see value adjustments. These adjustments will not be uniform across all markets, or all across all product types. Neighborhoods and/or buildings with high concentrations of investors and speculators will have greater adjustments. More desirable properties in neighborhoods or buildings with higher percentages of owner/occupants will maintain their values, while some will even experience modest increases during 2008. We forget that we have seen steep downturns in our volume of sales in past market cycles… only to see the turn-arounds come ever-so-quickly as buyer confidence re-kindles. Our sales associates have spoken first-hand to many potential buyers over this past year who have told them that they are “sitting out” the market, waiting for a final settling of values. The number of properties rented monthly through our Multiple Listing System is up 54% from two years ago… another good indication of the demand that is “waiting in the wings”.
By 2011, Florida is projected to bypass New York as the third most populated state in the nation behind California and Texas… which will create additional housing demand. The # 1 driver of real estate activity is population growth, and no one is suggesting that our growth will not continue. New full-time residents, as well as our part-time residents, will continue to create solid long-term demand for housing.
South Florida’s market fundamentals are still very strong: solid interest from international and second-home buyers, good corporate growth, low unemployment, mortgage rates still at historically low levels, a dwindling supply of developable land, and a permanent population that is still growing by almost 70,000 new permanent residents per year in just Miami and Ft. Lauderdale. Add ample housing inventory, a dose of sunshine and the attention of the entire globe… and you have all the ingredients for a world-class region that will continue to grow!
So… what should we be doing to ease the anxiety that comes with each new alarming front-page article or national news segment about our marketplace? We need to inform ourselves with accurate information. There are many great opportunities today to own a single-family home or condominium that didn’t exist just a few months ago, but it takes a little extra effort to find that fair value for both buyer and seller. One of our associates can share with you many examples of the great deals which are now available… or you can spend a few minutes on your own at http://ewm.com/properties/ to see firsthand the hundreds of South Florida properties from which you can choose.
Our future today is as bright as it has ever been. Those who have the vision to make a move today will be the ones who participate in South Florida’s vibrant future. There are many great opportunities spread across all our markets.
Our EWM Family wishes you a joyous, healthy and prosperous New Year. We all have much in which to look forward. South Florida is a wonderful place to call home.
Sincerely,
Ron Shuffield, President
Esslinger-Wooten-Maxwell, Inc.
A Member of the HomeServices of America Family of Companies
An Affiliate of Berkshire Hathaway
To Our South Florida Friends….
As we wrap-up 2007 and turn our thoughts toward 2008, the common question that I am being asked by many of our home buyers and sellers is, “How much longer will this sluggish market last”?
While many factors help to answer this question, the simple answer is that the first signs of a recovery will be a decline in our inventory levels. The build-up of South Florida inventory began in April 2005 when Realtors® had 14,000 single-family homes and condos for sale in Miami-Dade and Broward counties. By November 2007, we had 82,000 homes and condos in inventory. These numbers are expected to increase slightly into 2008, but at monthly increases far less then the double-digit increases of 2006. Once the inventory levels show sustained monthly decreases, values will then have a chance to begin re-building. Some higher-end price ranges have already begun to see reductions in the number of properties for sale; therefore, some are saying that the recovery in selected markets has already begun.
In the short term, we’re going to continue to see value adjustments. These adjustments will not be uniform across all markets, or all across all product types. Neighborhoods and/or buildings with high concentrations of investors and speculators will have greater adjustments. More desirable properties in neighborhoods or buildings with higher percentages of owner/occupants will maintain their values, while some will even experience modest increases during 2008. We forget that we have seen steep downturns in our volume of sales in past market cycles… only to see the turn-arounds come ever-so-quickly as buyer confidence re-kindles. Our sales associates have spoken first-hand to many potential buyers over this past year who have told them that they are “sitting out” the market, waiting for a final settling of values. The number of properties rented monthly through our Multiple Listing System is up 54% from two years ago… another good indication of the demand that is “waiting in the wings”.
By 2011, Florida is projected to bypass New York as the third most populated state in the nation behind California and Texas… which will create additional housing demand. The # 1 driver of real estate activity is population growth, and no one is suggesting that our growth will not continue. New full-time residents, as well as our part-time residents, will continue to create solid long-term demand for housing.
South Florida’s market fundamentals are still very strong: solid interest from international and second-home buyers, good corporate growth, low unemployment, mortgage rates still at historically low levels, a dwindling supply of developable land, and a permanent population that is still growing by almost 70,000 new permanent residents per year in just Miami and Ft. Lauderdale. Add ample housing inventory, a dose of sunshine and the attention of the entire globe… and you have all the ingredients for a world-class region that will continue to grow!
So… what should we be doing to ease the anxiety that comes with each new alarming front-page article or national news segment about our marketplace? We need to inform ourselves with accurate information. There are many great opportunities today to own a single-family home or condominium that didn’t exist just a few months ago, but it takes a little extra effort to find that fair value for both buyer and seller. One of our associates can share with you many examples of the great deals which are now available… or you can spend a few minutes on your own at http://ewm.com/properties/ to see firsthand the hundreds of South Florida properties from which you can choose.
Our future today is as bright as it has ever been. Those who have the vision to make a move today will be the ones who participate in South Florida’s vibrant future. There are many great opportunities spread across all our markets.
Our EWM Family wishes you a joyous, healthy and prosperous New Year. We all have much in which to look forward. South Florida is a wonderful place to call home.
Sincerely,
Ron Shuffield, President
Esslinger-Wooten-Maxwell, Inc.
A Member of the HomeServices of America Family of Companies
An Affiliate of Berkshire Hathaway
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