Tallahassee Real Estate Blog

Want to save a bundle on your Tallahassee and Leon County property taxes?  If you purchased a home in 2009 make sure you file for the Florida Homestead Exemption now!  It’s easy – here’s how!
 
Florida law provides residents up to a $50,000 exemption on the value of their primary residence.  The first $25,000 applies to all taxes.  The second $25,000 applies to any assessed value over $50,000 and only to non-school taxes.  For the typical median price home in Tallahassee, that can translate into over $700 in savings!

Who qualifies?  Anyone who owns a home in Florida and resides in it as a permanent residence as of January 1, 2010 can claim a homestead exemption in 2010.  Homeowners who bought in 2009 and are filing for the first time will need to apply.  Applicants need to furnish their social security number, and evidence of ownership such as a deed.  And don’t forget – if you had applied in previous years, but bought a new primary residence in 2009, you also need to apply – it doesn’t automatically transfer from your old residence.

Be prepared to provide proof that your Tallahassee home is your primary residence.  Proof can be established through some of the following Florida documents as long as they are dated as January 1, 2010:
Certificate of Domicile
Voter Registration Card
Vehicle License and Registration
Drivers License     

To make an application you may go in person to the Leon County Property Appraiser's office on the 3rd floor of the Courthouse Annex, located in the Bank of America Plaza, 315 South Calhoun Street between 8am and 5pm on weekdays.  The appraiser also offers Saturday filing in the Tallahassee Mall, each Saturday in February from 10am to 2pm, plus they visit several other locations throughout the county on Tuesdays in February from 3pm to 7pm. You may call the office at 488-6102 for those locations.  And finally, you may choose to apply by mail.  Visit the Property Appraiser’s website, click on Forms to download the application.  You must mail the application and copies of the required documentation by March 1, 2010.

If you somehow miss the March 1, 2010 deadline, call the property appraiser immediately – they still maybe able to help.  But better yet, file now to make sure you don’t miss out!

Contact me at terancekeenan@kw.com if you have any questions!

In Novemeber, 166 single family homes were sold in Tallahassee.  Compare that to November 2008, when only 84 homes were sold.  That's a 98% year-over-year gain in sales!  Four reasons:

• Low but stabilizing prices
• Historically low interest rates under 5%
• $8,000 and $6,500 homebuyer tax credits
• Slowly improving economy

Good for buyers, but still a very tough market for sellers.  There is no way to brush away the pain felt by many families having to sell under hard circumstances.  Hopefully, these numbers are the beginning of the process where homes are bought off the market, reducing inventory and bolstering prices.  It will be a long process, but one that will produce a more healthy, balanced market between buyers and sellers.

If you are looking to take advantage of the $8,000 or $6,500 tax credits in effect until April 30 2010, please call us at 850.445.2476.

If you need to sell and want thoughtful, experienced guidance, please call us at 850.445.2476.  No obligation, just the straight scoop on selling.      

Why buy title insurance?  We've all heard the concept - it protects you if there was a mistake or defect in the chain of title and recording of deeds.  Here are two real life situations that have occurred in the past 6 months.

There was a great foreclosure deal on the north side of town off Bannerman Road.  After the survey marks went up, the neighbor asked why the stakes were on his property.  Turns out the neighbor purchased a strip of land from the previous owner, but it was not recorded correctly, and the bank foreclosed on the whole thing - including the strip he supposedly purchased.

A week before closing, the tile company notified a home seller that a previous owner from 15 years ago had never quit claimed his ownership to his wife during a divorce.  He had since moved half way around the world.  Cloud on the title!  Stop the sale!  Luckily the title company tracked him down and he was very cooperative.  But what if he couldn't be located? 

You never know what could have happened 20 years ago that will affect your ownership!  Title insurance is cheap considering the consequences of not being covered!  Call us if you have questions 850.445.2476 

The Homebuyers' Tax Credit has been expanded!  Do you qualify?  You may! 

For a free analysis to see if you qualify, click here.

The First Time Homebuyer Tax Credit has not yet been extended.  BUT, a bill is making it's way through the Senate to extend the credit to April 2010, open it to houses up to $800,000 and expand it to all homebuyers, not just first time buyers.  The bill may be voted on this week.

Click here to receive free updates on the tax credit extension.