Real Estate Broker · Cape Coral, FL · Member since 2015 · 2k+ posts · 1k+ votes
Over the course of the year, I have been interviewed several times on local news stations about real estate and the current market. I have been asked to speak about high inventory, new regulations, the NAR lawsuit, and real estate scams, to name a few. Here is another news interview by Wink News, here in SWFL.
It is a great time to buy real estate in Florida! There are several forces at work that could cause a complete turnaround of the current real estate trends. Interest rates are going to continue to be lowered. Insurance companies are coming back into Florida and we have seen a decline in rates. But, for specifically Florida, to be the first state to remove all property taxes would be a game changer. By lowering taxes we would increase the buying power of the average home buyer by $40,000. Couple that with reduced interest rates and lower insurance and the average buyer can now afford $100,000 more. When you and in that out of state buyers will want to move to a state that doesn't have property taxes, we will get a whirlwind in real estate sales.
Hopefully the property tax elimination/reduction will pass. I'm already seeing a few ads starting to circulate telling people to vote against it, trying to convince them not paying taxes will cost them more then paying taxes does.
It's hard for myself to imagine someone voting against a tax break for themselves, but definitely not unheard of.... fingers crossed for the FL homesteaders, and especially the retirees. I could see this as helping the fixed income groups a ton.