Flood Insurance History & Reformation

4what Florida Real Estate Info, For Buyers, For Sellers, Hurricane Planning, Naples Real Estate Info, National News, National Real Estate Info

Flooding is the most catastrophic natural hazard and causes, on average, $3 billion dollars in damage annually. In 1936 The Flood Control Act was the first national program aimed at flood damage. In 1965 Hurricane Betsy caused over $1 billion dollars in damage along the Gulf Coast of Florida to Louisiana, and was the first storm of its kind to …

Save Our Homes Act

4what Florida Real Estate Info, For Buyers

The Florida Constitution was amended effective January 1, 1995, to limit annual increases in assessed value of property with Homestead Exemption to three percent or the change in the Consumer Price Index, whichever is lower. No assessment, though, shall exceed current fair market value. This limitation applies only to property value, not property taxes. When a house is sold, the cap and exemption …

Homestead Exemption

4what Florida Real Estate Info, For Buyers, For Sellers

Homestead Exemption One of the great many advantages of owning a home in the state of Florida is the tax benefit of Homestead Exemption. Every person who purchases and resides in a home in Florida on January 1st and thusly makes this their permanent residence, is eligible to receive a homestead exemption of up to $50,000. The tax benefit is …

Condo Association beats Bank in Million Dollar Foreclosure Battle

4what Florida Real Estate Info, For Buyers, For Sellers, National News

AVENTURA, Fla. – June 25, 2013 – It is a condominium association’s version of winning the lotto. A big bank missed its deadline to file for foreclosure on a million-dollar condo unit by 10 days. As a result, Peninsula Condominium Association in Aventura will get to keep the condo – a fancy three-bedroom, three-bathroom bayfront pad that it took ownership …