Great Florida Homes Blog

Virgina Slims that is......in honor of Women's Equality Day

A great article below regarding the history of women.  Freedom, isn't free.

"The price of liberty is eternal vigilance" is a saying attributed to Thomas Jefferson; it's never been more appropriate.   Our achievements obviously do not mark the end of our journey. So, let us celebrate what we have accomplished, honor those who have worked for our betterment and keep working until we gain equality for all.

The transaction closed today and I did the SNOOPY Dance!

Four hours on Friday for a closing and the HUD had to be recalculated because the escrow for the taxes was wrong....mind you it wasn't a HUGE error and the Buyer agreed they could have handled the mistake when the bank discovered it come January, but the Closing Agent said Re-Do it!

It was a Foreclosure property so of course there was a city lien of $11,000 (that was the re-negotiated amount). We won't even get into the three issues that were resolved that no one checked or knew about so when they came out to re-inspect; Code Enforcement added three more issues!!! Bottom Line they held $10,000 of the Seller/Lenders money and $1,000 of the Buyers $$

It gets better...We looked AT A LOT OF HOMES for months...Found one that worked sort of, desperate to secure a place we went back and said; Offer OK. Closing came and went and the Seller never showed up or moved out....Said they couldn't find a place to relocate to. Meanwhile my Buyers are left renegotiating their rent.

A month later we find another suitable property and ask the previous seller to sign off on our $5,000 deposit release. They WILL NOT sign because they want their listing agent to release them from the listing (after 2 years). In other words they are holding us hostage to manipulate their listing agent/company to release them. Company agreed, but agent in their infinite wisdom said No, we will not release them, because when they go into foreclosure, we will get their listing. Obviously they've never dealt with REO's before or they would realize how it works (We had already pleaded to no avail & that's OK, life has a full circle effect).

End result - We filed an EDO.....Another story....Plead all you want....you are going through the EDO BUREAUCRATIC Process!! My 1st in 25 Years..First aren't always Fun!!

Friday when we were supposed to close and the Buyers closing cost were $350.00, but they wired $3000.00, thank goodness, but still a nightmare....We were short $636.00 to close. We hurried and emailed the bank statements to show proof of funds. The bank wanted to know why there was a $1,000 deposit on Monday instead of Friday. The wife asked for an early paycheck because she was closing on Friday and wanted to have funds cleared money for improvements. We had to get a copy of the check.. WE DID EVERYTHING THEY ASKED-But it was Friday night and 6 pm..everyone went home and left us with a OH SORRY - YOU Can't Move IN. I now have a Homeless Family.

We'll end the story there and tell you that we made everything work, but it took Friday till Tuesday to get it done. I'm glad that we are tenacious but the process to get it done is still RIDICULOUS!!!!!

I'll add that there were A LOT of people that worked VERY HARD to "GET ER DONE", but the Bureaucratic Process stopped Every-ones efforts.

Hugs and Kisses in the end, but I lost weight over this one (Okay so that ain't such a Bad thing ;-) I'm Buying the Buyer the book, "The Secret", we need to work on these natural laws of positive attraction ;-)

Call for ‘Signature' Artist:  Sixth Annual Coral Springs Festival of the Arts

Organizers for the 2009 Coral Springs Festival of the Arts are calling for artists to submit works for consideration to be Signature Artist for the annual event.  The event is slated for March 21 and 22, 2010, at The Walk on University Drive in Coral Springs.

Each year, a piece of art is chosen to be showcased on festival posters, t-shirts, in event advertising, and at the event before an expected crowd of 50,000 people. 

The deadline for submission is September 30.    

The chosen artist will receive a $500 stipend, a complimentary festival booth, and a virtual gallery on the festival's website.  The piece submitted should represent the South Florida area, and special consideration will be given to any work depicting Coral Springs. 

Interested artists should call Gisele Rahael at 954-340-5930 or
e-mail GRahael@csfoa.org

The Coral Springs Festival of the Arts, now in its 6th year, is produced
by Howard Alan Events and has grown to attract thousands of South
Florida art lovers and their families.  The event features more than
250 art and craft  booths, live musical and performing arts
entertainment throughout the weekend and literary workshops.          

For more information, contact Shirley Richards, Festival Chair at
954-340-5992 or srichards@csfoa.org.

FOR BROWARD COUNTY PROPERTY OWNERS AND BUYERS, RELAVANT TAX INFORMATION (Information provided by the Broward Real Estate Investors Group)....

GENERAL OVERVIEW OF PROPERTY TAX DETERMINATION and When to File An Appeal to Your Taxes..

The 2009 property tax assessments for Broward County have been certified and are now posted on the Broward County Tax Assessor's website. To view your property assessment, go to www.BCPA.net  click on "Property  Search" on the top left, and  then scroll down to accept the terms of use.

You may search for a property by owner name, address, or folio number. Click on your choice, and enter the information. If you search by name, all properties owned by individuals with that name will come up, and you must click on the folio number of the property you wish to view.

When the correct tax comes up, below the name and address you will find "Property Assessment Values". The first line gives the 2009 assessed values. If you are NOT Homesteaded, the Just Value will be equal to the Assessed/SOH Value, and this is the value on which your 2009 property tax will be based. If you are Homesteaded, your taxable value is the Assessed/SOH Value, which is typically less than the Just Value. However, due to declining home values, the SOH Value can be equal to the Just Value.  Later, we will explain how that can occur.

The actual tax owed is still blank because the millage rates of the individual taxing authorities have not yet been determined. The following is the Budget Timetable:

August 4  -  Ad valorum taxing authorities advise the Property Appraiser of their rollback rate, proposed millage rate, and time, date and place of the first required public hearing. Special assessment districts to advise Property Appraiser of their proposed rates. 

August 11 -  Property Appraiser begins to mail Proposed Property Tax Notices (TRIM Notices)

 August 24 - Last day for Property Appraiser to mail TRIM Notices

August 24 to September 18 - Time to file petitions to the Value Adjustment Board (VAB) if you wish to challenge your 2009 Property Tax Assessment

September 3 to 18 - Ad valorum taxing authorities hold public hearings on tentative budget per Tax Notice. Dates and times of these hearings are listed on the TRIM Notices.                                 

Within 15 days after adopting tentative budget, ad valorem taxing authorities advertise intent to adopt final millage rate and budget.  Public hearing to be held 2 to 5 days after published advertisement, after 5 PM if not on Saturday, no Sunday hearings.

Within 3 days after adoption of the final millage rates, ad valorem taxing authorities deliver the Resolution or Ordinance adopting the final millage rate to Property Appraiser and Revenue Collector.

TBA  - Majority vote of County Commission to extend Tax Roll and prepare tax bills prior to Value Adjustment Board.

Once the millage rates are determined and the Tax Roll certified to the Revenue Collector, the individual tax bills will be prepared for mailing in November.  Even if you have filed a petition to the VAB or have engaged another person to do so in your behalf, it is recommended that you pay your tax bill on time (I get this question about 20 times a day). VAB hearings can go on for a year or more, and the property tax can become delinquent. If your appeal is successful, your excess taxes will be refunded to you.  

Broward County officials have publically voiced their intent to keep millage rates down and try to control expenses. However, fees are increasing to make up for the shortfall caused by lower property tax assessments. As you have already heard, Code Enforcement has become more aggressive, and now drivers are even being ticketed for seat belt violations. 

Land vs. Building

One last thing...Many people have been questioning the recent changes in the building values vs. land values on the tax records. The BCPA website explains why this was done:

"Starting with the new 2009 real property assessments, our residential land values and improvement (building) values are correctly apportioned. In the past -- because of the antiquated tax roll system this office had used for decades -- we were only able to set correct amounts for the total Just Value of a property, but the internal division of value between the land and the improvements was entirely arbitrary. Using mass-appraisal methods, we equalized land values this year by neighborhood -- not just by subdivision within a neighborhood. This means the square-foot land value for dry lots in a neighborhood should be the same as for other comparable dry lots in the same area ... lots along a golf course will be valued the same as other lots along the same golf course ... waterfront lots will be valued the same as other similar waterfront lots (and point lots valued the same as other nearby point lots) ... and so on. "

In times of declining property values, you should see your land value decrease while the building value stays relatively the same with an allowance for depreciation. The structure itself does not absorb the fall in value. The land does. This has been treated incorrectly on the tax records of Broward County over the past couple of years. It appears that this has been resolved by the recent corrections. 

The next email in this series will discuss how to go about filing a petition for relief.

To your limitless success,   Dave Dinkel

P.S.  Please forward this email to your friends and family members so they can take advantage of the first real opportunity in years to get a property tax reduction!

REAL ESTATE SALES AND LISTING UPDATE FOR BROWARD COUNTY & PALM BEACH COUNTY
July 1, 2009 - July 31, 2009

Broward County includes well known cities of Coconut Creek, Coral Springs,
Deerfield Beach, Fort Lauderdale, Highland Beach, Hillsboro, Lighthouse Point, 
Parkland, Plantation, Sunrise, Tamarac and Weston.

There are currently ­­­­­9,226 Single Family Homes LISTED FOR SALE in Broward County.

­­­3924 priced under $250,000
2886 priced between 250,001 and $500,000
880 priced between $500,001 and $750,000
530 priced between $750,001 and $1,000,000
377 priced between $1,000,001 and $1,500,000
231 priced between $1,500,001 and $2,000,000
399 priced over $2,000,000

For the month of July, 985, Single Family Homes SOLD in Broward County. 

563 were sold under $250,000
479 were sold between 250,001 and $500,000
54 were sold between $500,001 and $750,000
23 were sold between $750,001 and $1,000,000
18 were sold between $1,000,001 and $1,500,000
5 were sold between $1,500,001 and $2,000,000
1 was sold over $2,000,000

There are currently 15,199 Multi-Family Homes LISTED FOR SALE in Broward County.  Multi-Family Homes include condos, town homes, villas, coops, all attached and or unattached as well as single story to multi levels.

11,386 are priced under $250,000
2365 are priced between 250,001 and $500,000
680 are priced between $500,001 and $750,000
331 are priced between $750,001 and $1,000,000
228 are priced between $1,000,001 and $1,500,000
118 are priced between $1,500,001 and $2,000,000
89 are priced over $2,000,000

For the month of July,  942 Multi-Family Homes SOLD in Broward County.

Note that many of the lower priced multi family homes are located in Adult only communities with a over the age of 55 requirment to live there.

874 were sold under $250,000
50 were sold between 250,001 and $500,000
12 were sold between $500,001 and $750,000
3 were sold between $750,001 and $1,000,000
3 were sold between $1,000,001 and $1,500,00
0 were sold between $1,500,001 and $2,000,000
0 were sold over $2,000,000

Palm Beach County includes well known cities of Boca Raton, Boynton Beach, Delray Beach, Greenacres, Lake Worth,  Wellington and West Palm Beach. Figures quoted are for the cities we serve and not all of Palm Beach county.

There are currently 7412 single family homes listed For Sale in Palm Beach County.

2572 priced under $250,000
2433 priced between 250,001 and $500,000
893 priced between $500,001 and $750,000
520 priced between $750,001 and $1,000,000
367 priced between $1,000,001 and $1,500,000
261 priced between $1,500,001 and $2,000,000
570 priced over $2,000,000

For the month of July, 697 Single Family Homes SOLD in Palm Beach County. 

355 were sold under $250,000
244 were sold between 250,001 and $500,000
 46 were sold between $500,001 and $750,000
12 were sold between $750,001 and $1,000,000
14 were sold between $1,000,001 and $1,500,000
 12 were sold between $1,500,001 and $2,000,000
14 were sold over $2,000,000

There are currently 2923 Multi-Family Homes LISTED FOR SALE in Palm Beach County.  Multi-Family Homes include condos, town homes, villas, coops, all attached and or unattached as well as single story to multi levels. 

2402 are priced under $250,000
341 are priced between 250,001 and $500,000
84 are priced between $500,001 and $750,000
57 are priced between $750,001 and $1,000,000
23 are priced between $1,000,001 and $1,500,000
9 are priced between $1,500,001 and $2,000,000
7 are priced over $2,000,000

For the month of July, 604 Multi-Family Homes SOLD in Palm Beach county.

543 were sold under $250,000
39 are sold between 250,001 and $500,000
11 were sold between $500,001 and $750,000
6 were sold between $750,001 and $1,000,000
4 were sold between $1,000,001 and $1,500,000
None were sold between $1,500,001 and $2,000,000
None were sold over $2,000,000

To see specific details on a specific category of homes actively for sale or sold, please email us at Team@GreatFloridaHomes.com and we will forward the information for your reference or review.

Information deemed reliable as provided by the Realtor Association of Greater Fort Lauderdale
and the Realtor Association of the Palm Beaches.

In Broward County there are over 700 less listings and the sales about the same as last month.  In Palm Beach county (NOTE:  You may see a large reduction in recent inventory numbers as we decided to only report on the areas in Palm Beach county that we are selling in and this cities are identified in the heading of that county.  Palm Beach single family listings were about 400 units less and the sales up but a little over 100.  Less in the multi family listings and an increase in sales for Palm Beach.

On a personal/professional note, four months ago we said - NOW, Is the time to Buy!!!  Yes there are some deals out there in the under $100,000, under $75,000 and under $50,000 multi-family market, but they are scooped up as quick as they come on the market and often sell for more than asking price.  Four months ago, there wasn't this kind of competition.

Remember if you are taking advantage of the government's gift of $8,000, you have to be closed by November 30^th, 2009.  The average short sale closing takes 4 months.  That means you need to be in contract in August.  Hurry!!!!