Florida Listed No 8 in Kiplinger’s Most Tax-Friendly States

The study, which looked only at taxes, praised Fla.’s lack of income tax, “reasonable” property tax, homestead exemption and “average” state and local tax rates.

  • State income tax: None
  • Average state and local sales tax: 7.05%
  • Average property tax: $1,041 per $100,000 in home value
  • Estate tax/Inheritance tax: No/No

The Sunshine State is very popular with retirees, not just because of its forgiving climate but also because it has no state income tax. Sales taxes, though, can go as high as 8.5%, depending on where you live. The average combined state and local tax rate is 7.05%, which is about average.

Property taxes are reasonable in Florida. The average annual property tax on a $400,000 home in the state is $4,166, which is also average. Florida residents ages 65 and older who meet certain income limits can also receive an extra homestead exemption of up to $50,000 from some city and county governments and/or an exemption equal to the assessed value of the property, as long as the real estate has a fair market value of less than $250,000, the homeowner has maintained permanent residence at the location for at least 25 years, and household income does not exceed $30,174 in 2019. Any widow or widower who is a Florida resident may claim an additional $500 exemption as well.

You don’t need to worry about estate or inheritance taxes in Florida, either.
© 2019 The Kiplinger Washington Editors, Rocky Mengle

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Estero to seek $2M from state for river walk along Estero River

Estero will seek $2 million from the state to create a river walk along the Estero River. 

The village will ask for an appropriation from the state legislature during the 2020 session. 

Appropriations are part of the process of passing the state budget. State lawmakers can authorize spending money for specific purposes or projects through appropriations. 

The money, if the village receives it, would go towards creating public access to the Estero River on the 62 acres of land Estero purchased in January, said Estero Village Manager Steve Sarkozy. The village acquired the property for $24.5 million.  
©Naples Daily News

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Florida Housing Market Shows Positive Trends in September

September statewide single-family home sales rose 11.5% year-to-year, and the median price rose 5.3% to $256K. Condo sales rose 6.1%; median price up 5.8% to $193K.

ORLANDO, Fla. – During September, Florida’s housing market reported more closed sales, higher median prices and increased pending inventory compared to a year ago, according to the latest housing data released by Florida Realtors®. Sales of single-family homes statewide totaled 23,510 last month, up 11.5% from September 2018.

“Mortgage rates that remain historically low and strong economic trends continue to help fuel Florida’s housing market,” says 2019 Florida Realtors President Eric Sain, a Realtor and district sales manager with Illustrated Properties in Palm Beach. “In another positive sign, pending inventory for existing single-family homes was up 1.7% year-over-year, while pending inventory for existing condo-townhouse properties was up 0.9%.

“Staying on top of trends in local housing markets can be challenging for buyers and sellers – turning to a local Realtor for expert guidance can ease stress and help with peace of mind.”

Pending inventory is the number of listed properties under contract at the end of the month or data collection period.

Statewide median sales prices for both single-family homes and condo-townhouse properties have risen year-over-year for 93 consecutive months.

The statewide median sales price for single-family existing homes was $265,000, up 5.3% from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last month’s statewide median price for condo-townhouse units was $193,000, up 5.8% over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.

According to the National Association of Realtors® (NAR), the national median sales price for existing single-family homes in August 2019 was $280,700, up 4.7% from the previous year; the national median existing condo price was $257,600. In California, the statewide median sales price for single-family existing homes in August was $617,410; in Massachusetts, it was $430,000; in Maryland, it was $310,000; and in New York, it was $296,900.

Looking at Florida’s condo-townhouse market in September, statewide closed sales totaled 9,007, up 6.1% compared to a year ago. Closed sales may occur from 30- to 90-plus days after sales contracts are written.

“With inventory levels continuing to dwindle, low mortgage interest rates remain the major reason we are continuing to see strong sales and price growth throughout much of the state,” says Florida Realtors Chief Economist Dr. Brad O’Connor. “And with both sales and prices continuing to rise, it should come as no surprise that the dollar volume of sales throughout the state also increased significantly this September compared to September of last year. Statewide, closed sales of single-family homes totaled about $8 billion, a year-over-year increase of 17%. Dollar volume for sales of townhouses and condos, meanwhile, rose by 7.5% to about $2.4 billion.”

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 3.61% in September 2019, a significant drop from the 4.63% averaged during the same month a year earlier.
© 2019 Florida Realtors®

 

Market Report – August Home Sales Strong as Prices Hold Steady

Naples, Fla. (September 20, 2019) – Closed sales of homes in Collier County increased 7.4% in August, but overall inventory fell 17.8% to 4,917 properties compared to 5,980 in August 2018, according to the August 2019 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). This reduction in inventory – which included 616 homes that were either terminated, expired or withdrawn from the Southwest Florida MLS in August – resulted in a six-month supply of inventory for Collier County at the end of August…
– View Complete Market Report…
View Complete Statistics…
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Vasari – First Semester 2019 – Real Estate Sales Report

Here is the real estate market sales report for the first part of 2019 for the condos, coach and carriage homes in  Vasari Golf & Country Club, bundled golf  community in Bonita Springs, Florida.
There are currently 18 properties for sale in Vasari.

Condominiums:
There are two neighborhoods of condos:
Matera –  5 condos for sale as of today. Listed from $149,888 to $254,900.
View Active Listings.
In the first 6 months of 2019, 6 condos have sold in Matera:
– From $156,000 to $225,000.
– Average Days on Market: 49.
– Average Sale Price per SQFT: $194/SQFT.
– Average Sale Price: $194,000.
View All Recent Sales in Matera.
Trieste –  5 condos for sale as of today. Listed from $234,900 to $259,900.
View Active Listings.
In the first 6 months of 2019, 5 condos have sold in Trieste:
– From $187,900 to $245,000.
– Average Days on Market: 96.
– Average Sale Price per SQFT: $133/SQFT.
– Average Sale Price: $212,780.
View All Recent Sales in Trieste.

Carriage Homes:
There are two neighborhoods of carriage homes:
Toscana –  2 units for sale as of today. Listed for $295,000 and $325,900.
View Active Listings.
In the first 6 months of 2019, 6 units have sold in Toscana:
– From $200,000 to $365,000.
– Average Days on Market: 132.
– Average Sale Price per SQFT: $143/SQFT.
– Average Sale Price: $296,700.
View All Recent Sales in Toscana.
Firenze –  1 unit for sale as of today. Listed from $357,200.
View Active Listings.
In the first 6 months of 2019, 1 unit has sold in Firenze:
– For $203,000.
– Average Days on Market: 713.
– Average Sale Price per SQFT: $116/SQFT.
View All Recent Sales in Firenze.

Coach Homes:
There are two neighborhoods of coach homes:
Altessa –  1 unit for sale as of today. Listed for $498,000.
View Active Listings.
In the first 6 months of 2019, 3 units have sold in Altessa:
– From $307,000 to $445,000.
– Average Days on Market: 54.
– Average Sale Price per SQFT: $183/SQFT.
– Average Sale Price: $397,300.
View All Recent Sales in Altessa.
Cassia –  1 unit for sale as of today. Listed for $449,000.
View Active Listings.
In the first 6 months of 2019, 4 units have sold in Cassia:
– From $332,500 to $419,000.
– Average Days on Market: 225.
– Average Sale Price per SQFT: $154/SQFT.
– Average Sale Price: $371,625.
View All Recent Sales in Cassia.

You can view all properties for sale in Vasari, including the homes an estate homes.
Contact us if you have any questions about Vasari. 

Esperanza At Tiburon – First Semester 2019 – Real Estate Sales Report

This is the real estate sales report for Esperanza At Tiburon, in Naples for the First Semester of 2019.

Esperanza at Tiburon features 90 luxury residences in fifteen 4-story buildings.

There are currently 2 condos on the market in Esperanza. 
Listed from $1,450,000 to $1,549,000.
There is also 1 pending sale.
View Active Listings & Pending Sales in Esperanza.

during the first semester, 6 condos have sold in Esperanza:
– From $1,100,000 to $1,495,000.
– Average Days on Market: 161.
– Average Sale Price per SQFT: $432/SQFT.
– Average Sale Price: $1,275,000.
View Recent Sales in Esperanza
Let us know if you have an interest in Esperanza at Tiburòn or in any of the other neighborhoods.

Bloomberg: Florida, The Winner As The Wealthy Move South

According to a Bloomberg analysis of state-to-state moves based on data from the IRS and the U.S. Census Bureau, Florida saw a net influx of nearly 3% of the state’s adjusted gross income in 2016.

South Carolina, Idaho and Oregon also posted large gains, while the biggest declines were recorded by Connecticut, New York, and New Jersey.

The U.S. Census Bureau reports that about 10% of the population – about 35 million people – moves annually, usually within the same county, though about 5 million Americans move from one state to another.

“Florida’s powerhouse economy continues to churn out new jobs, retiree migration to Florida is on the rise, and millennials are coming into their prime home-buying years,” says Florida Realtors Chief Economist Brad O’Connor.

Migration also brings more money into Florida than it moves out. The average gross income of people moving to Florida from 10 states and Washington, D.C., exceeded $100,000, outstripping those of Florida natives who migrated to the reciprocal states.

The Sunshine State also benefits from a provision of the federal tax law that imposes a lower cap on state and local tax deductions – one of seven states that collect no income tax.
Source: Bloomberg (05/24/19) Miller, Lee J.; Lu, Wei

View All Available Residential Real Estate For Sale in the Naples Area…

Market Report – April Shows Market Resurgence Continues

Naples, Fla. (May 24, 2019) – Closed sales during April in the Naples housing market increased 12.8 percent to 1,158 properties in April 2019 from 1,027 properties in April 2018. Broker analysts reviewing the April 2019 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), reported that April was a solid month with strong sales activity in both the single-family and condominium markets.
– View Complete Market Report…
View Complete Statistics…
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Mortgage Rates Fall Again – Edge Closer to 4%

U.S. long-term mortgage rates fell slightly this week, marking a third straight week of declines as a continued inducement to purchasers in the spring homebuying season.

Mortgage buyer Freddie Mac said Thursday the average rate on the 30-year, fixed-rate mortgage eased to 4.07% from 4.10% last week. By contrast, a year ago the benchmark rate stood at 4.61%.

The average rate for 15-year, fixed-rate home loans declined this week to 3.53% from 3.57% last week.

Search for  your dream home in Naples Area…

 

Rapallo At Coconut Point – Market Report – First Quarter 2019

Rapallo At Coconut Point

This is the real estate market report for Rapallo At Coconut Point, for the first quarter of 2019.
There are currently 24 properties for sale in Rapallo.
Condominiums:
There are 7 Terrace Condos on the market in Rapallo.
Listed from $268,000 to $295,000.
View Active Listings.
In the past quarter, 2 terrace condos has sold in Rapallo:
– From $266,000 to $279,000.
– Average Days on Market: 44.
– Average Sale Price per SQFT: $190/SQFT.
– Average Sale Price: $272,500.
View Sales for the Terrace Condos.

Coach Homes:
There are currently 14 Coach Homes on the market in Rapallo. Listed from $255,900 to $342,000.
View Active Listings.
3 are under contract.
In the past quarter, 7 coach homes have sold in Rapallo:
– From $289,000 to $341,000.
– Average Days on Market: 81.
– Average Sale Price per SQFT: $184/SQFT.
– Average Sale Price: $315,000.
View Sales for the Coach Homes.

Carriage Homes:
There are currently 2 Carriage Home on the market in Rapallo. Listed from $417,500 to 425,000.
View Active Listings.
1 is under contract.
In the past quarter, 3 carriage homes have sold in Rapallo:
– From $365,000 to $415,000.
– Average Days on Market: 76.
– Average Sale Price per SQFT: $166/SQFT.
– Average Sale Price: $387,500.
View all Recent Sales for the Carriage Homes.

Courtyard Villas:
No villas currently for sale.
In the past quarter 1 courtyard villa has sold in Rapallo:
– For $500,000.

View Sales for the Villas.
Let us know if you have any questions and how we can help you about Rapallo or any properties in Estero