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Marco Island Condos, Marco Island Real Estate, Marco Island Homes for Sale, Marco Island Luxury Homes

Waterfront Luxury Home Specialist

239.821.7926
Cathy.Rogers@Sothebysrealty.com

Florida First & Florida Advantage Help Qualify You For Down Payment Assistance Programs

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If you’re in the process of buying a home and need down payment assistance, you should know that the State of Florida might have a program that can help you finally become a homeowner! Thanks to Florida Housing, there are a handful of programs to help homebuyers. Two of the most utilized and appreciated programs that people in Florida use are the Florida First program and the Florida Advantage program. Both of these can help buyers automatically qualify for down payment assistance programs.

Florida First

The Florida First program offered by Florida Housing is a means to get a low 30-year fixed-rate on your first mortgage, if you’re a qualified borrower. It isn’t a down payment assistance program, but it does automatically qualify you for one of the state’s down payment assistance programs. So, Florida First is a wonderful place to start, if you need down payment assistance. Plus, it may qualify you for an outstanding affordable mortgage.

Florida Advantage

The Florida Advantage program offered by Florida Housing  can help you if you intend to buy a home in an area designated as rural. Keep in mind, the definition of rural is quite broad. So, it is worth looking into, even if you don’t think the home you’re interested in qualifies as rural. This program helps self-help buyers or buyers with at least one disabled family member. To qualify, you also need to be at or below 80% of AMI adjusted for household size. If you do, you also would qualify for the Florida Assist down payment assistance.

Are You Buying a Home on Marco Island?

Considering buying a home on Marco Island? We’d love to help you find one that’s just right for your needs.

First, check out available Marco Island area properties using this helpful search tool. If it’s easier, you can just call us at 239-821-7926 or get in touch with us online to let us know what you’re looking for. We’re happy to contact you however you prefer. Then, we’ll start searching our databases right away using criteria you specify!

In the meantime, you can also easily explore Marco Island real estate by price:

Also, to stay current on the latest listing and community events, connect with your Marco Island area expert on Facebook or Twitter!

 

 

How To Show Show No Estate Tax Liability In Florida

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Did you know that a federal change eliminated Florida’s old estate tax? Indeed! If a person died on or after January 1, 2005, no estate tax is due to Florida. It’s also really easy to show that you have no liability to pay an estate tax. To get the estate tax lien removed, the estate representative only has to fill out one of two forms.

Florida Form DR-312

If the estate is not required to IRS Form 706 or Form 706-NA, choose this form. The personal representative file this form, known formally as the Affidavit of No Florida Estate Tax Due. It’s Florida Form DR-312. Filing a DR-312 will cause the release of the estate tax lien.

Florida Form DR-313

Now, if the estate is a required to file IRS Form 706 or Form 706-NA, file a different Florida form. Instead of the DR-312, file the Florida Form DR-313. It’s also called an Affidavit of No Florida Estate Tax Due When Federal Return is Required. Filing this form will in turn release the estate tax lien by the State of Florida.

Head to see the clerk of the court in the county where the Florida property is located to file either the DR-312 or the DR-313.

Are You Buying a Home on Marco Island?

Considering buying a home on Marco Island? We’d love to help you find one that’s just right for your needs.

First, check out available Marco Island area properties using this helpful search tool. If it’s easier, you can just call us at 239-821-7926 or get in touch with us online to let us know what you’re looking for. We’re happy to contact you however you prefer. Then, we’ll start searching our databases right away using criteria you specify!

In the meantime, you can also easily explore Marco Island real estate by price:

Also, to stay current on the latest listing and community events, connect with your Marco Island area expert on Facebook or Twitter!

Thinking About Selling Your Home Without A Real Estate Agent? Don’t – Here’s Why

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Thinking About Selling Your Home Without A Real Estate Agent Dont Here is WhyIf you’re considering selling your home in the near future, you may be tempted to simply cut out the middleman and opt for an FSBO sale. However, selling a home is a major undertaking, and most “For Sale By Owner” home sales run into obstacles.

So why is an FSBO sale such a problem for most homeowners? Here are three reasons why you’ll want an agent to represent you instead of going it alone.

An FSBO Puts You At Risk Of A Lawsuit

Selling a home involves mountains of paperwork, and in order to make the transfer of ownership legal and above board, there is a large amount of minutiae that need to be considered. For instance, as a seller, you are legally obligated to disclose certain facts about the property: Some jurisdictions require you to disclose whether a death occurred in the home, for example, or if the home is located in a historical district.

Even one seemingly minor mistake could open you up to legal action. An experienced real estate agent already knows everything that needs to be disclosed, and although agents can make mistakes, they have errors and omissions insurance to protect them. Most homeowners don’t have that protection in place.

Buyers’ Agents May Discourage Buyers From Viewing Your Home

When it comes to FSBO deals, most buyers’ agents anticipate the deal being a challenge at best. Buyers’ agents typically only show FSBO properties in one of two cases: Either the price is extremely low or there aren’t any other homes available.

But according to Atlanta real estate agent Bruce Ailion, most experienced agents have had an FSBO transaction go poorly at some point and are now wary of them. Without a real estate agent to represent you, sellers’ agents will be hesitant to deal with you – and you won’t get as many offers on your home as you’d like.

You’ll Need To Discern Qualified Buyers From Dreamers

One thing that most homeowners don’t know is that not everyone who views your home is actively interested in buying it in the near future. Showing your home may mean taking time off work or away from activities you care about, and if the prospect doesn’t end up buying, you’ve wasted your time.

A real estate agent knows what questions to ask in order to weed out the merely curious and find motivated buyers, so you’ll sell your home much faster.

FSBO sales don’t always end in disaster, but they’re considerably difficult to do well. An experienced real estate agent can help you sell your home faster and for more money than you can on your own. Contact your local real estate professional today to learn more.

What Perks Does Your Favorite Credit Card Offer?

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Last week, the Federal Reserve pledged to leave the Fed Funds Rate near 0.000 percent until at least mid-2013. For credit card holders in FL who carry a monthly balance, this is good news. Because of the Fed’s call, credit card rates are unlikely to rise before mid-2013.

But cardholders can save on more than just interest costs, as you’ll learn from this two-and-a-half minute piece with NBC’s The Today Show. In the interview, you’ll hear about “built-in” perks offered by most credit cards and ways by which you can save on everyday goods and services.

For example, did you know your everyday credit card might offer:

  • Travel perks : Automatic trip cancellation protection and car rental insurance.
  • Shopping perks : Discount admission to concerts and museums; free shipping from overseas.
  • Consumer perks : Price protection against a drop in price; insurance against theft; extended warranties.

And it’s not just “high end” cards that offer these options, either. Credit cards of all types do what they can to improve consumer loyalty. Offering free perks is just one way in which they try.

Most credit cards offer websites detailing cardmember perks and benefits. Visit the site of your favorite card and see where you might save on everyday items.

If You’re A Landlord, You Need A Landlord Insurance Policy

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Landlord rental insuranceThe ranks of the landlords are growing. Along with an increasing number of “accidental landlords”, real estate investors now account for close to 20 percent of all home resales, according to the National Association of REALTORS®.

If you plan to buy a rental property in Naples , or to convert your current residence for long-term rental, make sure your home is properly insured.

A traditional homeowners insurance policy may be unsuitable for landlords.

A landlord insurance policy typically covers the home itself; the owner’s possessions in the home; structures on the land including garages and sheds; and, minimal liability coverage in the event of injury or lawsuit.

It’s common for landlords to increase that minimal liability coverage, adding an umbrella policy for $1,000,000 or more. Umbrella policies protect your home from an unfavorable lawsuit related to just about anything — housing-related or not. 

Optionally, a policy may includes provisions for “lost rental income”.

Annual premiums for a landlord insurance policy are often 20% more costly than for a standard homeowners policy. This puts the average landlord insurance premium near $950 per year.

Premiums vary by state, too. The top 3 most expensive states in which to insure a rented home are:

  • Texas : $1,752 per year
  • Florida : $1,668 per year
  • Louisiana : $1,386 per year

At $464 per year, Idaho is the least expensive state in which to hold a landlord insurance policy.

Talk with your insurance agent about your insurance options as a landlord. There are tens of choices and coverages from which you can choose. Let a professional help you pick the best choice.

Contact Cathy


239.821.7926
Cathy.Rogers@Sothebysrealty.com