All legal Florida residents are eligible for a homestead exemption in Florida on their homes, condominiums, co-op apartments, and certain mobile home lots if they qualify. The Florida Constitution provides this tax-saving exemption on the first and third $25,000 of the assessed value of an owner/occupied residence. The Homestead exemption in Florida may refer to three different types of homestead exemptions under…
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Real Estate Rental Income
The market is improving but there are still plenty of bank-owned and auction homes for sale due to foreclosures that have finally processed. During the past 6 months, I have sold plenty of $25,000 - $60,000 homes to investors looking to better invest their funds sitting in savings accounts. A couple of my clients have…
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Foreclosures, Shortsales, Bank-Owned Properties Explained
Foreclosure is the process by which a homeowner’s rights to a property are forfeited because of failure to pay the mortgage. If the owner cannot pay off the outstanding debt or sell it via short sale, the property then goes to a foreclosure auction. A short sale is a sale of real estate in which the proceeds from selling…
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