Nuts & Bolts

Nuts & Bolts 20 Ways to Save Money on Homeowners’ Insurance By Hillard Grossman Most money-saving tips have a secondary side effect, such as increasing out-of-pocket costs after a disaster or no coverage at all for something you may need. MIAMI – Living in a Barbie’s World is getting more challenging as homeowners’ insurance rates soar. But, there are ways you might be able to keep […]
Nuts & Bolts Gov. Signs 3 Property Insurance Bills into Law – JUNE 2023 Gov. Signs 3 Property Insurance Bills into Law By Kerry Smith HB 881 expands the My Safe Florida Home program to most areas and increases minimum home values. SB 7052 boosts consumer protections and insurer accountability. HB 799 changes Citizens’ price increase “glide path” mainly for non-homesteaded properties. TALLAHASSEE, Fla. – Gov. Ron DeSantis signed […]
Nuts & Bolts Senate Bill 264 – Interests of Foreign Countries – May 2023 Learn more about a new law that regulates the sale, purchase and ownership of certain properties in Florida by specific foreign principals, persons and entities. During Florida’s 2023 legislative session, lawmakers passed Senate Bill 264 – Interests of Foreign Countries. This bill was recently signed into law by Gov. Ron DeSantis and will take effect […]
Nuts & Bolts Florida insurance policyholders hit with 1% emergency ‘assessment’ fee – April 2023 Florida insurance policyholders hit with 1% emergency ‘assessment’ fee  1% emergency ‘assessment’ to be collected to cover costs of claims   TALLAHASSEE, Fla. – State insurance regulators last week signed off on a plan that will lead to policyholders throughout Florida paying extra on their bills because of property-insurer insolvencies. Insurance Commissioner Mike Yaworsky issued […]
Buyers Dreaming What’s ‘Special’ About Special Assessments? April 26, 2023 by Meredith Caruso What’s ‘Special’ About Special Assessments? By Meredith Caruso   Special assessments appear in various places of the Florida Realtors/Florida Bar contract, but Paragraph 3(c) on the Condo Rider has confused more than a few members. ORLANDO, Fla. – The contracts and riders/addenda Florida Realtors offers members mention “special assessments” in various places. However, one tends […]
Buyers Dreaming Home Prices Hold Steady in January, Despite a Downturn in Sales SARASOTA, Fla. (February 21, 2023) – The Sarasota and Manatee housing market starts off the year with a continued rise in the supply of homes for sale. According to data from Florida REALTORS® and compiled by the REALTOR® Association of Sarasota and Manatee (RASM), the month’s supply of inventory for both property types increased year-over-year […]
Buyers Dreaming InterNACHI’s Estimated Life Expectancy Chart for Florida Homes, AUG, 2022 SOURCE: The following chart details the predicted life expectancy of appliances, products, materials, systems and components for homes in the state of Florida.  (It may also be applicable to states in the nearby coastal region with similar climate and weather conditions on a typical basis.) While many components and systems in homes located in […]
Buyers Dreaming Property Fraud Alerts, a growing Problem … 2021 Property Fraud Alerts in Sarasota and Manatee Counties…. Property and identity fraud are a nationwide problem. By filing fake deeds, scammers appear to own property, and can fraudulently rent or sell the property without the knowledge of the true owner. Your Sarasota Clerk and Comptroller wants to help you in protecting against property fraud. By […]
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Buyers Dreaming ADU’s Approved in Manatee County & Sarasota City, 2021 ADU’s Approved in Manatee County and City of Sarasota In a big win for property owners, during the month of August both the Manatee County Commission as well as the Sarasota City Commission voted to allow homeowners to construct accessory dwelling units (ADU) on their property. REALTOR® Associations throughout the country have long touted the […]
Buyers Dreaming Qualifying for a Mortgage During Retirement Buying a home after Retirement – how is it done ? For many retired homeowners, relocating or downsizing is a common goal, but determining the best way to pay for their next home may seem complicated. Without a steady employment paycheck, many retirees assume they can’t qualify for a mortgage, leaving them with two options: […]
Buyers Dreaming PROPERTY SHARING: YOURS, MINE AND OURS PROPERTY SHARING: YOURS, MINE AND OURS Many times property ends up having some form of shared ownership. Sometimes it is simply in the form of joint tenants or tenants in common, but sometimes more complex forms are involved such as life estates, ownership through entities or even by agreement (such as a co-habitation agreement). Over […]
Nuts & Bolts Wire Fraud is Real – Before wiring any money …   Wire Fraud is Real   Before wiring any money, call the intended recipient at a number you know is valid to confirm the instructions. Be safe.​ Review recommended steps below to safeguard your hard earned dollars…. There are steps homebuyers should take to make sure they are protecting themselves from falling victim to fraudsters, […]
Nuts & Bolts Reverse Mortgage ? Source: Reverse Mortgages: Understanding the Basics BY: 1Michael S. Gutter, Selena Garrison, Brent Litchfield, and Lisa Leslie2 Introduction For most people, their largest single investment is usually the home where they reside. One thing that most families don’t realize is how to use this investment of equity in their house to help fund their […]
Buyers Dreaming FEMA 50% Rule Substantial Improvement/Damage FEMA 50% Rule Substantial Improvement/Damage March 23, 2018. –  Berlin Patten Ebling         Blog Post  LINK           “Sarasota in the 1950s was one of the most important places in the world for architectural creativity, where the greatest design movements of the day came together.”- Carl Abbott FAIA, original […]
Buyers Dreaming What is the Coastal Construction Control Line? CCCL: What is the Coastal Construction Control Line? What is the Coastal Construction Control Line? In order to protect, preserve, and manage Florida’s sandy beaches and coastal system, the Legislature adopted the Florida Beach and Shore Preservation Act, contained in Parts I and II of Chapter 161, Florida Statutes. The Coastal Construction Control Line (CCCL) […]
Nuts & Bolts Taking Title in Florida … NOTE: This article is no substitute for consulting with an Attorney on the best way for you to take Title. HOW YOU CAN TAKE TITLE Title to real property in Florida may be held by individuals, either in Sole Ownership or in Concurrent Ownership. Concurrent Ownership or “Co-Tenancies” of real property occurs when title is held […]
Nuts & Bolts Closing Costs HELPFUL CALCULATORS   Closing Costs Calculator Sellers Closing Costs Calculator Title Insurance Calculator     Closing Costs are the costs paid by Buyers and Sellers at the closing for various services rendered by the lender, the realtor, the title company, and any other services incidental to the sale. The following are examples of charges to […]
Nuts & Bolts Title Insurance Title Insurance Calculator Old Republic – National Title Insurance Company using calculator based on sale price……… $300,000 Title Insurance cost: $1600.00 $350,000 cost: $1850.00 $400,000 cost: $2100.00 $450,000 cost: $2350.00 $500,000 cost: $2600.00 TITLE What is a title? When you purchase a home, you are really purchasing the title to the property-which is the right […]
Local INFO Florida Taxes and more … For Professional Tax Guidance contact your Certified General Accountant …. below is a laymens helpful guide… Florida Taxes Florida Residents enjoy some of the lightest tax burdens in the country. Florida residents do not pay personal income tax, inheritance tax, or gift taxes. These tax breaks by themselves bring many people from higher tax states […]
Nuts & Bolts Flood Ins. Risk Rating 2.0 in Effect on April 1, 2022 MARCH 24, 2022 By Kerry Smith Homeowners who renew NFIP flood insurance after April 1 face updated guidelines with new home-by-home prices. But some subsidies and discounts remain in effect. WASHINGTON – The National Flood Insurance Program (NFIP) introduced “Risk Rating 2.0” about two years ago. Under the previous program, FEMA identified flood zones and […]