Aventura & Sunny Isles Beach Luxury Real Estate

…have changed

Last week’s column focused on exposing homeowners to the realization that a “hair cut” may be more advantageous than going for regular “trims.” Recent history has shown us how residences with monthly priced reductions that took well over 6 months to sell, probably would have been better off making a substantial price reduction and ending up with a sale in half the time…

different tools for difficult times?

Buyers take note… if the property you are interested in is not in the price range you feel comfortable with, then have your “buyer’s agent” (an agent that works on your behalf) get out his/her chain saw and tell them to “go to work!” A buyer’s market means just that… the buyer dictates where the prices will be. Sellers and listing agents can strategize all they want…if a buyer isn’t “ready, willing and able” it’s not happening. The amount of inventory is on track to soon be record setting. Most sellers have not received any offers… but remain focused on the concept… “when you bring me an offer… then you’ll see me adjust the price… just bring me an offer”.

There are buyers out there… they are waiting for the “right time” Let’s use all the tools available to us and let’s create the right time now! Call or stop by and let a Koslovsky Realty agent show you how it’s done in 2008.

Deal or No Deal

Struggling times… call for inventive measures. See why reputation, professionalism, experience, integrity, energy, vision, product knowledge and even a chain saw… are tools used at Koslovsky Realty. We have been caring for clients (Sellers and Buyers – we are a single agency company) since 1981. Call and meet the name on the door…Sid Koslovsky… we never hide behind a name…we are accountable for what we do!

It’s as simple as that…
to sell your home.

Sellers that are serious about selling and buyers that must sell first in order to take advantage of this buyers…

You must be willing to get a hair cut and not just a trim.

In plain English cut your price enough so that your property will be extremely attractive for someone to buy. To truly appreciate this concept all you need to do is look at the “history” of the majority of properties presently on the market today. You will see that most of the inventory has been “for sale” for many, many months. The more serious sellers and wanna be buyers, have reduced their asking prices by 3% to 7% at a clip……that’s right they have been clipping or trimming away. When you evaluate a home that has sold & closed, you will clearly see the time period it takes and the amount of price reductions necessary to effect a result, hence……haircuts.

If you take the time to review “expired listings” you will come to the realization that these sellers have been “chasing the market”as it drifts downward. An old Turkish proverb says, “no matter how long you have been going down the wrong road, when you figure it out, turn around.”

My friend, Lance, has a teenage son Ethan. He is a very stubborn boy. That young man needs his hair trimmed. But, Ethan is reluctant to listen to his Realtor father, or brother or relatives. Some day Ethan won’t be able to find a job because of his long locks and argumentative attitude.

Periodically it’s a good idea to cut your hair, cut your losses, and cut your price.

The only thing standing between most sellers and a sold sign is a pricing “haircut”. The agents at Koslovsky Realty are ready to evaluate your property, advise you on the best course of action to market your home, and give you a “haircut” when they feel the time is right. Just give us a call.

Amendment 1
Frequently Asked Questions
Q: When will the changes from Amendment 1 show up on tax bills?
A: For those who are eligible, benefits from portability, the additional homestead exemption and the $25,000 exemption for tangible personal property will show up on 2008 tax bills.
Q: How does a person apply for portability?
A: The homesteaded property owner should turn in a completed application to the office of the property appraiser in the county where the new homestead is located. The application from the Department of Revenue. http://dor.myflorida.com/dor/property/appraisers.html
Q: Who’s eligible for portability this year?
A: A person who establishes a new Florida homestead for 2008 and filed to give up the previous homestead sometime after Jan. 1, 2007. In other words, a person who relocated from a homestead last year and is claiming a new homestead for 2008 is eligible. The deadline for 2008 homestead and portability applications is March 1. The portability benefit would show up on the 2008 tax bill.
Q: Who’s eligible for portability after that?
A: Any Florida homesteaded property owner who establishes a new homestead for 2009 or any subsequent year—as long as the person had another valid homestead within two years of establishing the new one.
Q: How much is the portability benefit worth?
A: A homesteaded property owner can transfer up to $500,000 of portability benefit to a new homestead. A person moving to a more expensive home transfers the dollar amount. A person moving to a less expensive home transfers the percentage value.
Q: I don’t plan to move. What happens to the 3 percent cap on property tax assessments I got every year under Save Our Homes?
A: You’re still protected. Save Our Homes doesn’t go away
Q: Is there an application for the additional homestead exemption?
A: No. The additional exemption will be granted automatically to anyone qualifying for a base $25,000 homestead exemption. It applies only if a property’s assessed value exceeds $50,000.
Q: How much is the additional exemption?
A: The exemption is $25,000, but it does not apply to property taxes assessed for local schools. In other words, no additional exemption will be applied to a property’s assessed value for the purposes of levying school taxes.
Q: Do business owners and mobile-home owners with tangible personal property have to apply for the exemption?
A: To receive the exemption, they must file their 2008 returns. If the value of tangible personal property is under $25,000, they will not have to file again the following year.
Q: When does the 10 percent cap on annual assessment increases for most non-homesteaded properties go into effect?
A: It goes into effect in 2009. There will also be an application. Keep checking the Department of Revenue web site for details
http://dor.myflorida.com/dor/property/appraisers.html
Courtesy of Florida Association of Realtors