Since almost everyone is feeling the pinch under the current economic climate, here are a few tips for buyers of Florida real estate to save on their homeowner’s insurance premium costs.
By taking these few simple steps, you might just wind up saving yourself more premium dollars than you might think.
- Shop around and get a few quotes. On any given day, some insurers are aggressively pursuing new customers while others are not. By shopping around, you can sometimes find a much better deal on your premium costs.
- For older homes (pre-2006), get a Wind Mitigation Inspection report done. Depending upon what measures are in place in the home, you can typically lower your wind insurance costs substantially.
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A rule change proposal from the Consumer Product Safety Commission would look at pools and spas in short-term rentals, including those in single-family homes, and consider them public facilities bound by the U.S. Virginia Graeme Baker Pool and Spa Safety Act.
The Tax Foundation has created a state by state comparison of property taxes using 2009 U.S. Census data. The review utilized three criteria: median property tax paid, property tax as percentage of a home’s worth, and property tax as a percentage of median income. In all three comparisons, Florida ranked right in the middle. New Jersey came in at No. 1 and Louisiana finished at No. 50.
International buyers are taking advantage of a weak dollar in order to buy Florida real estate at a record pace. Many are just taking advantage of the drop in property prices but most also see the Florida market as a desirable and secure investment for the future. In fact, during the last 12 months, foreign buyers purchased almost 25% of all the existing homes sold within the state.
The mid year 2010 real estate market statistics for both home and condominium sales on 
