Have you been dreaming of a 2nd home? You are not alone especially if you are thinking of coming south to Florida. Florida is the #1 choice for people looking to purchase a 2nd home.
Why wouldn't Florida be #1? The weather, easy travel access, beautiful beaches and the largest number of golf courses make it an easy choice. Dining outdoors at night is a popular activity too. It is hard to imagine that it is winter.
According to the Florida Association of Realtors, Florida has the largest number of second homes – 1.1 million properties – followed by...
A recent study by the National Association of Home Builders (NAHB) show that a $1,000 increase in the cost of a median-priced newly built home, pushes 127,560 buyers out of the market. This means that the increasing prices are impacting affordability and the ability for potential buyers to purchase a home.
So, what does this mean? This study illustrated how even a relatively small increase in price or interest rate can dramatically impact housing affordability, according to NAHB Chariman Randy Noel. Housing affordability is currently a serious problem in communities across the country including South and Central Florida. On top of rising prices, the concern over...
How To Know When It's Time For a New Roof
It’s easy to tell when you need to replace your carpet or repaint the walls since you see them every day. You noiice the wear easier. When to replace your roof is a different thing. How often do you spend the time looking up at your roof and really analyzing how it looks? If you’re like most people, the first indication you get that it’s time for a new roof is when it starts to leak. Before that happens, here are some signs that your roof needs to be replaced:
- It’s old: Depending on the roof type, will depend how long it will last. A metal roof will last the longest, then tile comes...
Top 5 Home Projects
You already know that your home does not look like the pictures in the home magazines. If you’re ready to list your home, you might be wondering if you should do some home improvements or upgrades before listing. The truth is not all changes will bring the best Return on Investment (ROI). Before you plan a big, or small, improvement project, here are the top home improvements which have been shown to bring the best “bang for the buck.”
- Yard clean-up and landscaping
- Complete home cleaning and de-cluttering
- Replacing the front door
What is a 1031 Exchange?
One of the most common real estate investment transactions is the 1031 Exchange. Simply put, a 1031 Exchange (also called a “like-kind” exchange) is the swap of one investment asset for another which defers capital gains taxes on profits.
A like-kind asset refers to selling one class of investment for a similar type of asset. For example, an investor currently holds several multi-family properties, such as duplexes, and wishes to sell them all in order to purchase a larger multi-family property, such as an apartment complex. This would qualify as a like-kind exchange.
There are specific IRS rules which...