Hi Kramer,

In the years from 2004-2007 we experienced a large growth in Clermont and alot of new homes were constructed. Many of the new homes as well as resale homes were purchased by both investors and primary home buyers. As the demand increased so did the sales prices for the homes during that time period. Many investors purchased homes to resell. . Some of the investors purchased multiple properties and many were not able to even rent them, so now they can not afford the mortgage payments.

The taxes on homes purchased during that time period are based on the higher sales prices. Since there were so many homes for sale it eventually encouraged the prices to decrease. Also many homes were purchased with special financing with interest rates that have adjusted to increase the payments that now the homeowners can not afford them. Many of the homes purchased by both investors and primary owners have gone into foreclosure .

You are correct that some of the taxes on homes are high . A buyer may qualify for a home in a particular price range, but then can not afford the monthly taxes. Eventually with the resale of homes the assessed value of homes will be reevaluated to reflect the current market value. When it comes time to sell, the price that buyers are willing to pay at that time for comparable homes will set the sales price.

Currently there are a lot of homes for sale and some may never have been occupied. There are a lot of great prices on homes in Clermont and Central Florida. Now is the time to buy a home!


Let me introduce myself, I am a Realtor with GMAC Real Estate Real Property Group. I am a Clermont resident familiar with the community. I have been helping buyers in Clermont and the Orlando area purchase their dream home since 1990. I would love to help you with the purchase of a home. Please visit my website: http://www.EllenTidwell.com or http://www.etidwell.rpgrealty.com to begin your home search. You may reach me by phone: 352-874-5241 or email: Ellen@EllenTidwell.com. I look forward to hearing from you.

Kramer,

The commute to Orlando (from the Clermont/Minneola area) for work or entertainment, is within 30 to 35 minutes, with the commute to the airport mostly under 40 minutes. When the market was overheated there were many sales to investors who were unable to flip the home, and unable to rent they were foreclosed on.

With the number of foreclosures there are many very good home buys.

As for the taxes, with the continued resale of homes the tax basis will reset in the coming months to reflect the current market value. To resell a home will depend on what your expectations are at the time you want to sell. The market will always set the price.

Good luck in your quest for a home in Central Florida, as a Lake County Realtor I would welcome the opportunity to work for you.

For more information please visit my website http://www.jimewilliams.com

Jimmy Williams
Coldwell Banker Tyre & Taylor Realty, Inc.
2765 S. Bay Street
Eustis, Fl 32726
capstonejw@hotmail.com
(352) 874-2354

HI Kramer,
I currently have several clients that I am providing financing for in Clermont. The issue with the taxes is it depends how much the previous sale was and if they had the property homestead. Because values have sored in the past few years people who had the homstead were capped at 3% vs. 2nd home/Investements that were capped at 10%. There are many homes for sale all over bu that area is being bought up very quickly rght now. Good Luck and Happy Searching!

Melissa Antenucci
Ameritrust Mortgage