Home Buying in 33139>Question Details

Jean-Louis D…, Real Estate Pro in miami beach, FL

This real estate tax reform ,will it make any difference in the real estate activity

Asked by Jean-Louis Delbeke Sotheby's, miami beach, FL Sun Jun 24, 2007

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Take a look at this website for more real estate tax reform information from the Florida Association of Realtors. http://palacepropertiesonline.com/propertytaxreform.aspx
1 vote Thank Flag Link Sun Nov 18, 2007
Mark you are absolutely right. Tax reform will benefit some more than others, but it will indeed help our real estate market. I think that a major part of the tax reform should include "portability". WIthout portability many homeowners who want to upgrade or downgrade will continue to feel trapped in their current homes.

The politicians are taking a step in the right direction, however they are going to need our support. We as agents and brokers need to voice our opinions and educate ourselves and our customers on this very big issue.
1 vote Thank Flag Link Sat Oct 20, 2007
Yes, indeed, the tax reform legislation (if passed) with the super homestead exemption will indeed help our real estate market throughout the sunshine state. However, and as others have mentioned, the top beneficiaries will be those folks who purchase homes under 300k and actually homestead those properties. For those of us who are real estate investors and own either residential and/or commercial pieces of property (i.e. property that is not homesteaded), the current proposed legislation is neither here nor there...unfortunately enough. Yet, in my professional opinion of value, our politicians are at least taking a step in the right direction. We will need to continue to educate ourselves, our real estate leaders, politicians and probably most importantly our clients and fellow citizens who do not practice real estate as to viable and equitable solutions for all parties involved. I am the captain of the Melbourne Area Association of Realtors Leadership Academy and as such have traveled from the Space Coast to Orlando and Tallahassee to learn more about the real estate tax reform, to meet with legislators and to educate them as to what their/our constituents are saying about said tax reform. We all need to get involved and make our voices heard!
1 vote Thank Flag Link Sun Sep 16, 2007
If you run the numbers, the tax savings have the most impact on real estate under $300k. So, to answer the question, the tax reform should have an impact in buyer activity of real estate near or under $300k.
Web Reference: http://www.bryansereny.com
0 votes Thank Flag Link Sun Sep 16, 2007
I believe this is a great step to making Florida home ownership once again available to the first time home buyer. Being in the Panhandle, which is home to a couple Military installations, the tax issue was a major concern for our enlisted who wanted to buy a home while stationed here. They might be able to afford a home, but couldn't cover taxes or insurance. Now that property tax relief is on its way, I hope that this not only help first time home buyers, but also rejuvinate the current slump we are in.
0 votes Thank Flag Link Wed Jun 27, 2007
I think it will. Once people realize the impact this will have on the amount of home they are able to afford on a monthly basis, I have to believe we will see more buyers in the marketplace. Now if only we could sort out the insurance crisis here in Florida...
0 votes Thank Flag Link Mon Jun 25, 2007
Not the way it is currently written in my area, which is South Central Pennsylvania.
0 votes Thank Flag Link Sun Jun 24, 2007
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