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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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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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…)

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Exchanging properties in and of itself is rather complicated. But exchanging a vacation home may be possible. For the uninitiated, Section 1031 of the Internal Revenue Code allows investors to sell a property, reinvest the proceeds in a new property and avoid all capital-gains taxes.

The regulation states “no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment, if such property is exchanged solely for property of like-kind which is to be held either for productive use in a trade or business or for investment.” The term “like-kind” is often thought to mean that one type of property must be traded for the exact same property type, but that is incorrect. Any real property held for investment or used in a trade of business can be swapped for any other property held for investment or used in a trade or business. But the properties don’t have to be traded directly. Rather, in a 1031 exchange, you can sell a property to one person and buy another property from another person as long as both transactions occur within a specific time period and meet a bunch of other rules.

Looking for a home in Woodfield Country Club? Realtor® Caesar Parisi is ready to help you buy your dream property.
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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…)

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While sharing the top 10 questions I am always asked, usually the questions are not asked in the order of priority that they should. Therefore, I have taken the liberty of also explaining the order these questions should really be asked by investors.

Number One, where can I find good investment property? While this is always the first question everyone asks, it is not the first question they should be asking. The first question should be: what are the first steps I should take before beginning my real estate investment career? I strongly believe the answer to that question is to get your spouse or significant other on board. Do not try to do real estate investment without their approval and support. Even though this is an investment venture, it will involve personal funds. Both you and your spouse should be in agreement with what you want to accomplish short term and long term. The next step is to evaluate if you have the time available to dedicate to real estate investment.

For more information on this and other real estate matters, your first source for Palm Beach FL real estate should be licensed agent and long-time resident Caesar Parisi.
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