July 2006
Monthly Archive
31 Jul 2006 04:03 am
Insurance financing solutions elusive
As homeowners across Florida open their windstorm insurance renewal notices this year, they are learning they’re going to be paying hundreds or even thousands of dollars more for their premiums. What they may not know is that today and for the past three decades, they have also been sending tax money, both indirectly and directly, to property insurance companies — not to keep their own premiums low, but to ensure those companies’ profits.
That state government is involved even to the extent it is today is testament to the crucial role property insurance plays in the lifeblood of Florida’s economy: real estate development. Similar price hikes and lack of availability in, say, trip cancellation insurance, almost certainly would not lead the state to create a program to help residents buy it. Homeowners insurance is something else entirely. Without an income tax, Florida for decades has relied on real estate transaction taxes and increasing sales tax revenues from new residents to pay the state’s expenses.
To find the perfect home, Boca Raton real estate market.
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search for : windstorm insurance, Homeowners insurance
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30 Jul 2006 04:59 am
Apartment REITs seen reaping Q2 gains
Rents and demand for U.S. apartments and office space are way up but analysts expect investors in real estate companies focused on apartments to see the gains first. Apartment and office real estate companies, the best performing real estate investment trusts (REITs) this year, will report second-quarter financial results starting Monday.
Apartment rents, which include concessions such as free rent that some owners have granted, rose 1.2 percent nationally in the second quarter, as the vacancy rate fell to 5.6 percent, its lowest level since the end of 2001, according to research firm Reis Inc. Regionally, Fort Lauderdale, Florida saw second quarter rents rise 2.4 percent in the second quarter. Orlando, Florida rents rose 2.2 percent, San Jose, Ventura and San Bernardino counties in California saw rents jump 2.1 percent.
Buying Boca Raton real estate has never been easier! Contact us today for a free relocation package and get started searching for your home with a top-notch team of Boca Raton Real Estate Agents
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search for : real estate investment trusts, REITs
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28 Jul 2006 07:57 am
Insurance Rates a crisis for businesses in Florida
As businesses confront mounting problems in finding or affording windstorm insurance, civic leaders are grappling for workable solutions. The massive collapse of the hurricane insurance market for Florida businesses has morphed from an economic headache just weeks ago into a clear and growing threat to the region’s economic vitality.
Ultimately, business leaders say, the lack of affordable windstorm insurance could do something no hurricane ever has done to South Florida: produce permanent, crippling economic damage. ‘’It is a crisis situation,'’ said Frank Nero, head of the Beacon Council, Miami-Dade’s tax-funded economic development agency. “This is not just a case of companies making less money. It’s not being able to stay here, or expand here, or move here. And that ultimately translates to fewer job opportunities.'’ It isn’t just a headache for business owners — much of their higher costs are likely to ripple into consumers’ pockets.
For more information on this and other real estate matters, your first source for Palm Beach real estate should be licensed agent and long-time resident Caesar Parisi. (more…)
search for : windstorm insurance, Florida businesses
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27 Jul 2006 07:03 am
Does your Vacation Home Qualify for a 1031 Exchange?
26 Jul 2006 07:05 am
The makings of a profitable condo purchase
Don’t buy or sell a condominium, co-op or townhouse without first reading Ken Roth’s revealing new book, “Everything You Need to Know Before Buying a Co-op, Condo, or Townhouse.” Written by an experienced Florida real estate attorney and condo investor, this important handbook exposes the good and bad of these specialized properties.
Whether you are thinking of buying as a personal residence, or you are a speculating investor looking for a “quick flip” profit, the author explains how to protect yourself, especially when purchasing a new condo from a professional developer. Roth emphasizes what is negotiable in such purchases and what is non-negotiable when dealing with new construction. Along the way, the author discusses what makes a profitable condo purchase, such as location, view and amenities, and how to avoid paying too much. The book’s final chapter ties everything together and shares how to sell your condo for maximum sales price.
Ready to buy or sell Palm Beach FL real estate? Consult with licensed agent Caesar Parisi. Caesar has assisted hundreds of buyers and sellers, giving sound advice on how to most effectively buy and sell property. (more…)
search for : Everything You Need to Know Before Buying a Co-op, Condo, or Townhouse, Florida real estate attorney
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25 Jul 2006 05:51 am
Top 10 real estate investing questions