Blog Probes Real Estate Models

www.REALonomics.net is a blog that is asking serious questions about where the real estate industry is going. More specifically, REALonomics poses challenges to the broker/owners to adopt models that will allow their organizations to become more transparent.

REALonomics.net advocates that the industry open up the property information portals to consumers and upgrade its approach to how it is interacting with the consumer by implementing more social networking such as www.CityBlogUSA.com, a community blogging network for every city in the USA.

Visit www.REALonomics.net.

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AMENDMENT 1 TAX PORTABILITY - YOU MUST FILE!!

YOU MUST FILE FOR PROPERTY TAX PORTABILITY!!

Florida passed the Amendment 1 Tax Reform at the January 29 election. Among other things, it allows homesteaded homeowners to “port” their tax savings to a new home. This can mean huge savings and it will finally help all those people who’ve been locked into their homes because of the Save Our Homes Act. Many homeowners have wanted to get into new homes, but to do so, they would have carried a much larger tax bill- in some cases well over 2 times what they’d been paying. This new legislation has solved that particular problem.
The great news for people who bought in 2007 is that the law is retroactive to Jan 1, 2007. That means that anyone who went from a homesteaded Florida property to another before this law was passed still has the opportunity to cash in on considerable savings. The bad news is that they only have until March 1, 2008 to file!! It is not automatic!! You must file! If you’re buying after the fact, you’ll have more time, but you still have to apply. Anyone claiming the retroactive law must do so right away or lose a significant amount of money every year that they own in Florida!
Pasco County is asking for original signatures, so they said that you must go in person. Hillsborough County said that you could fax or mail, but it’s to important to risk not going in person.

Hillsborough County
Form:
http://www.hcpafl.org/www/downloads/pdfs/dr501tn0308.pdf
Locations to file:
http://www.hcpafl.org/www/about/contact.shtml

Pasco County:
Form:
http://appraiser.pascogov.com/pdf/DR501T.pdf
Locations to file:
http://appraiser.pascogov.com/

The way the Amendment 1 tax portability works is:

If your new home is worth more than your old home, then the entire difference will be applied to your new home.

If your new home is worth less than your old home, then the percentage difference between the old home’s market value and assessed value will be applied to the new home. For example, if the assessed value of the old home is 30% of the market value, then the new home will also be assessed at 30% of its market value.

For more FAQ’s visit:
http://dor.myflorida.com/dor/property/reformfaqs112107.pdf

You are now free to move around the state!
For more information on the Amendment 1 Tax Reform, visit:
http://www.hcpafl.org/www/about/amendment1.shtml

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Condos in Town?

Are there any condo projects in Tampa, Florida and are there any that are on golf courses? What is the condo price range? Are there any age restricted condo communities?

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Real Estate Companies

Tampa has a lot of real estate companies. Which one is considered the best company according the Tampa, Florida residents? Who are the best real estate agents in Tampa, Florida? Historically, which company has been there the longest? Do any of the real estate companies also have title and mortgage companies?

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Foreclosures in Town?

Can anyone speak to the issue of foreclosures in Tampa, Florida? Foreclosures are up around the country due to the sub-prime lending practices. Is there any foreclosure impact on real estate in Tampa?

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