Cape Coral Real Estate Brokerage | SW FL Property

Homestead Exemption Laws

 Over 1,000 people move to Florida every day according to dmv.org.   Not only are families relocating from other states but they are also moving from other countries.  Is this because of the beautiful sand beaches, warm sunny weather, or miles of green golf courses?  It may just be because of the generous tax laws offered to Florida residents.

The law states that Florida residents are eligible for a 25,000 exemption on the assessed value of their home.  Those with an assessed value of more than 50,000 are eligible for an additional 25,000 exemption, depending on the value of their property. The exemption can only be applied to non-school taxes, and the property must be worth at minimum 75,000 to be eligible for the entire exemption amount.

In addition to the homestead exemption we have the Save our homes amendment which protects homeowners by limiting the tax assessment to a maximum of 3% each year.

You may also qualify for one or all of these exemptions listed below.

• Widow/Widower's Exemption $500.00
• Disability Exemption $500.00
• Veterans Disability Exemption $5,000.00

If you are a foreign buyer there is something to be aware of and that is the FIRPTA withholding Rule.  This stands for investment in real property tax act of 1980. FIRPTA authorized the IRS to withhold income tax on nonresident aliens and foreign corporations with sales of US real property. When a person or corporation purchases a US real property from nonresident aliens or foreign corporations, they are required to withhold 10% of the amount. This tax is intended to ensure that the US is able to tax the gains from the sale of property.

If you are a buying a second home or vacation home, or if you are moving from another state or country keep in mind if you are not a Florida resident and do not plan to become one you will pay a significantly higher tax bill. Become a Floridian, and start saving.

 There are exceptions to all tax information listed above we recommend visiting these sites for more detailed information.

http://leepa.org/Exemption/GeneralExemptionInfo.aspx

www.irs.gov

Once you have made the decision to relocate to this beautiful city of Cape Coral, contact our Florida Future Realty Team we are here to assist you.

Are we still selling homes in Cape Coral? The answer is yes, and in record numbers.  We have been getting so much negative national media attention, that our ideas are clouded with misinformation.

The National Association of Realtors published their polls and it shows that in 2009 with the assistance of realtors, 16,260 homes were sold.  In 2005 when the housing boom began, the record was 12,123

However one significant change is the declining home prices. In 2005 the median home price was 278,200, now in 2009 we were at 90,400. This decline is due to the record number of short sales and foreclosures now flooding the real estate listings.  Sellers are now coming to their senses and listing their homes more realistically, their homes are worth significantly less from what they were selling for 5 years ago.  The fact of the matter is that homes are STILL selling.  We may have to navigate through a few detours, from bank negotiations to new lending laws, but properties are moving.

Buyers also need to understand that there are great deals to be had, but when a property is under market value as many of them are, they may sell very quickly and most likely there will be multiple offers.

So when searching for real estate in Cape Coral, we suggest you secure your financing and act quickly when you find the right home at just the right price.  Call one of our agents at Florida Future Realty to assist you in your home buying experience.

Yours in Success,

Florida Future Realty Team

(239)542-8521

www.floridafutureagents.com 

www.florida-future-realty.com

Sandoval is a great community located in central Cape Coral. With a resort style community, fishing pier, dog park, volleyball court & walking trails you'll never run out of activities to keep yourself busy.  Homes from single family to carriage & villa homes are available in this beautiful Cape Coral community.

Browse below through currently offered single family listings in Sandoval.

Browse below through currently offered condo & villa listings in Sandoval.

Tarpon Point Marina is located in SW Cape Coral, Florida. Tarpon Point offers many great investment opportunities for buyers. From fractional ownership units, to waterfront condos to estate homes, there is something to meet many different real estate buyer's needs.

With a deep water marina, resort-style complex & great shopping, you'll find something great to keep busy in beautiful Southwest Florida!

Check out the great listings in Tarpon Point Marina below!

Heatherwood Lakes is a gated community in central Cape Coral, Florida. Community pool & clubhouse offered for owners!

Browse through the great properties available in Heatherwood Lakes of Cape Coral: