September 2008

Imagine the surprise of over a million Florida residents who received their proposed 2008 real estate tax assessments expecting to see a tax decrease (based on the passage of the Amendment I) and finding out their taxable value has actually may have gone up by 3%. How is this possible you say, especially considering almost everyone's market value has dropped in the last two years? Welcome to the world of the state's "down-means-up recapture rule."

The rule was adopted way back in 1995 by the state's Department of Revenue with the full backing of then Governor Lawton Chiles. In fact, they even went to court when a group of county…

According to Money Magazine, Collier County in Southwest Florida ranks fourth on its list as one of the best places to live for having a long life. The magazine surveys various regions and identifies areas where residents have some of the longest life expectancies in the country. Home to the City of Naples, Collier is the largest county (land wise) in the state. Fortunately for its residents, roughly 80% of it is devoted to nature preserves, state parks and recreation areas. In its survey results, Money stated "Collier County is the picture of Florida Leisure"  and "almost any kind of water-related activity or exercise is readily…

T he mid year 2008 Lely Resort market statistics for both homes and condominium sales are listed below. Lely Resort is an upscale gated golf community with excellent amenities and is considered one of Naples premier communities.

Encompassing 3,000 acres of lakes and preserves, Lely Resort is a sophisticated and luxurious style of living conveniently located near Naples' beaches and 5th Avenue shopping. In addition, the community has 54 holes of truly championship golf designed by Robert Trent Jones, Lee Trevino and Gary Player and features the completely renovated Players Club & Spa. The development offers a variety of single…

Since the government announced it would be taking custody of Fannie Mae and Freddie Mac, there has been a substantial drop in mortgage interest rates which has raised the hopes that more buyers will pull the home buying trigger and help hasten the housing market recovery.

We could not agree more with that possibility. The rate on a Conventional 30 year fixed rate loan fell to 5.75% with zero points on Tuesday, and most other mortgage loan programs followed suit. Of significant note in this change is the fact that the announcement also had a major impact on jumbo loan rates. For months, they have remained stubbornly high, as the…

Florida real estate sales continued to show strength throughout the state in July. In fact, for the first time in two years, statewide single family existing home sales increased year over year in July. The numbers are quite amazing considering most of the national media pundits would have you believe the State's housing market has fallen off a cliff. The reality is anything but gloom and doom. Savvy retirees, bargain hunters and international buyers are all recognizing that their opportunity to grab an affordable slice of the Florida lifestyle is happening right now. Here's a review of some of the numbers:

• July's existing…