However, even after the elections, President-elect Obama has continued discussions regarding the 2009 stimulus rebate, making it seem all the more real to us now.  Included was discussion of rebates that would be even larger than that of the package put forth by Bush’s Administration with the Troubled Asset Relief Program in 2008.  Since no specifics on the rebate have been discussed, many still remain skeptical that the stimulus plan for 2009would include a rebate.  Most of Obama’s discussions regarding the relief includes additional aid to those receiving unemployment or food stamps.  He has not revealed any specifics or concrete plans for additional rebate checks in 2009. There has been discussion that whatever assistance may come will take place within the first two weeks after Obama’s inauguration. 

Even the St. Joseph statue buried in your backyard is little comfort?

There’s still time to change to road you’re on.

According to the U.S. Census Bureau, as many as 5,373 Americans move every day. They all can’t be buying.

And, if you expect your house to appreciate in value over the next three years, which we do in SoFla, don’t sell it – rent it. Becoming a landlord isn’t a bad idea.

For starters, becoming a landlord offers attractive tax perks and frees you to become an active home buyer without the headache.

SmartMoney lists the Top 10 tax deductions for landlords as being interest, depreciation, repairs, local travel, long distance travel, home office, employees and independent contractors, casualty and theft losses, insurance, and legal and professional services.

Also helpful for first-timers, is a recommended reading list from National Association of Residential Property Managers http://www.narpm.org/about/recommended-reading.html.

But the key to making this work is peace of mind.

This month, Tip-Mart Inc., debuted RentersQ – a free screening system that makes a prospective tenant’s payment and tenant history available online to prospective landlords so detailed it even tells you if the person smokes, has pets or is noisy. In other words, it rates the prospective tenant’s desirability from 0 to 100.

Nolo.com, a provider of legal information for consumers and small businesses, said the first thing a would-be first-time landlord needs to do is to make a decision based solely on business, not from the gut. Like, “I think he looks like a responsible guy.” And that’s exactly what Tip-Mart’s RentersQ says it does for you.

No, not the ‘Canes. The real hurricanes – you know – tropical storms, high winds, storm surges, flooding, etc.

North Carolina State University researchers’ April report said 2007 would be an “active” season for the Atlantic basin. Out of a possible 14 tropical storms, one might develop into a Category 3 hurricane that hits the southeast.

This year, before you spend money (tax-free) on duct tape, plywood or metal sheets, during Hurricane Preparedness Week May 20-26, consider getting shutters. Condo associations and HOAs for single-family home communities all have to abide by Florida Statutes/building codes requiring them to allow you to shutter-up.

In fact, a state proposal to require many Florida coastal homeowners to buy storm shutters is up for review by Tallahassee lawmakers right now, amidst reports that such mandatory purchases will increase property values and decrease homeowners insurance rates.

Experts say the best types of shutters for you depend on what your needs and budget dictate, but proper installation is even more important, so get and check references of the workmen/company . Accordion-type shutters, or those with an automatic closing mechanism, are best for the elderly and disabled. Aluminum panels are easy to install, but are less effective than steel panel shutters. But for God’s sake, whichever you decide, DO NOT USE TAPE. It’s flat-out ineffective.

See here for more Shutter FAQs .

Homeowners have decided to act and are circulating a petition that has made rounds throughout homes from the Florida Keys to the Panhandle.

Among other things the petition seeks lower rates, tougher building codes statewide, and a strong lobbying effort for a national catastrophe fund, according the Miami Herald.

Citizens; the largest insurer in the State holds 1.3 million policies, half of those are in the South Florida area. With the new state law that requires insurance companies to increase its reserves so it has enough money available to cover claims from a large storm, means increases starting as early as March.

The group Insurance Reform Now organized by mortgage banker Sherri Hudson is drafting a list of possible solutions such as eliminating the provision in that new state law that calls for large premium increases in Citizens’ rates; creating preventive measures that would not allow for long-term policy holders to have their policies cancelled; the creation of a national or regional catastrophe fund, and the creation of formal regulations that call for gradual rate increases.

Let’s face it; living in paradise has its cost. South Florida real estate has become increasingly expensive to insure. Some property owners have had their premiums raised up to 300 percent.

Thankfully our government has not been blind to the insurance crisis.

Florida Governor Jeb Bush recently appointed a special committee which unanimously approved fifty recommendations, some designed to help lower insurance costs for property owners, and others designed to create an easier environment for insurance companies to operate within.

Recommendations for consumers include allowing them to buy fire, theft, and liability coverage but no hurricane insurance. This option is good for property owners who have paid off their mortgage and are willing to take a risk and save money on high premiums.

Higher deductibles are another option for consumer savings. More options include upgrading your home with impact windows and hurricane shutters, and having your roof inspected for any weak areas that may use improvement.

Many new South Florida homes and condos already have incorporated new engineering standards designed to withstand Category 5 winds.

Some of these developments include Sapphire Condos in Fort Lauderdale scheduled to be completed by the end of 2007, and Las Olas Riverhouse which will start Phase II very soon.

Considered to be the costliest midterm elections in the last decade, the race is on and much is at stake.

With a whopping $3 million dollars in congressional candidate contributions on behalf of the National Association of Realtors, one can hardly doubt the crucial impact these elections will have on South Florida real estate. The multi-million dollar contribution puts the National Association of Realtors in the number one spot for PAC’s.

Property taxes and increasing insurance rates are what concern homeowners the most and the issues have been addressed with endless promises on behalf of the candidates.

One candidate proposes a 1 billion dollar tax cut that would save the owner of a $225,000 dollar home about $120 dollars a year. Another plan is to cap property tax increases on non-homestead property at 10 percent a year to benefit renters and business owners.

Another candidate has promised to cut taxes with an amendment to the constitution which would double the homestead exemption from $25,000 to $50,000 dollars. Yet another proposal is to add portability to the Save Our Homes amendment which controls taxes by limiting the increases in property assessments.

According the Sun-Sentinel Charlie Crist was quoted as saying “I think we need to give the taxpayers relief that is significant, substantial and appropriate,” and that “Property taxes are incredibly too high, they’ve been choking people in this state.”

Insurance is the crucial issue. After the busy hurricane season of 2005, insurance rates where drastically increased but have shown no signs of decreasing after the uneventful 2006 season.

Many Floridians will be busy voting today. We’re yet to see how the outcome will affect our pockets. Hopefully it will be to our gain.

With such an abundance of homes on the market, prices are taking a plunge and incentives are popping up everywhere. High end property purchasers for example, have the option of receiving bonuses that include boats and cars, cash and closing cost assistance, as well as first year tax and insurance costs paid.

As the competition among sellers including the many new and upcoming developments continues to arise. The anti has gone up, encourage sellers to bring out their homes and condos’ maximum appeal. Brand new condo towers compete by increasing the amount and quality of the world-class amenities they provide.

Residences for sale in Miami at The Executive Condo along Collins Avenue on Millionaires row start at $297,000. The Executive Condo offers ocean and Intracoastal views, valet parking, doorman, restaurant, and oceanfront pool. The condo community’s maintenance fee includes insurance, cable, common areas, garbage and trash removal, recreational facilities, and security.

Fort Lauderdale features many interesting offers as well. Rio Nuevo condos for example, features waterfront views and ocean access with no fixed bridges. The community of Rio Nuevo features a clubhouse, exercise room, several picnic areas, and a swimming pool. Condos for sale in Rio Nuevo start at approximately $299,000.

Further north, Boynton Beach, West Palm, Jupiter, and Singer Island are all offering waterfront living in state-of -the-art condo towers with many amenities we have rarely seen before. The 42-story Tiara Condo a staple of Singer Island’s waterfront skyline features a rotating bar and lounge on the last floor with sweeping views of the Singer Island Marina and the Atlantic Ocean. Condos for sale in the Tiara start at $240,000 for almost 1,200 hundred square feet of oceanfront real estate.

This makes it a great time to buy a home in South Florida. Many waterfront properties are on the market at reasonable prices and offer the best of South Florida’s laidback lifestyle.

Whether you’re an empty-nester looking to downsize or and up-and-comer looking wading into the pool of property ownership, condos might be the most affordable option.

The prices of condos in South Florida have dropped about 4 percent from this time in 2005. Condos are often attractive to buyers because they offer a degree of home ownership without the maintenance involved with a house.

But there are many things to keep in mind before signing on the dotted line and moving into your fab new condo. After all, when you buy a condo, you own the interior space of your unit, and you co-own the exterior structure, land, shared amenities and upkeep with everyone else in the complex.

Some things to keep in mind when looking at condos in the South Florida real estate market:

Know Your Neighbors
The saying goes that good fences make good neighbors, but in condos, there are no fences between units. Condos offer less privacy than single family homes, so you’ll be living in close quarters with a lot of people. Talk to neighbors before you buy. Hear their opinions about the condo association. Make sure to visit the complex at different times, including days, evenings and weekends to get a feel for the place and meet a variety of residents.

Do Your Research
Condos are run by condo associations and the people who sit on their boards. Research the board members and get a copy of the association’s financials and most recent annual reserve study. This can be very helpful in determining whether fee increases are just around the corner. Investigate the type of insurance the complex has and what is included in the monthly association fees. Review the complex’s declaration of condominium; this helps determine the monthly condo fees. Review the bylaws, which will inform you of architectural requirements in case you ever want to make changes to your unit.

Read the Rules
If you move into a certain condominium in South Florida, will Fido have to go because he gets a little chubby? If Fluffy goes to that big kitty condo in the sky, will you be able to adopt that sweet little kitten form the Humane Society? If you become ill, will Aunt Sadie be able to move in for a few months to take care of you? If you fulfill that dream of buying an RV, will you be able to park it in the complex? Condo associations have all kinds of rules governing many areas of daily life, so it’s very important that you read all the rules and decide if you’re comfortable with the. After all, once you sign on the dotted line, you’ll be living by those rules for a long, long time.

1) Expected appreciation rate
2) Interest rate on a 30 year fixed mortgage
3) Purchase price
4) Property taxes
5) Homeowner association fees
6) Capital gains tax when you sell ( if applicable)
7) Maintenance costs
Holding period
9) Estimated tax deduction (for the full holding period)
10) Alternative monthly rent

I find it a lot easier to make a decision when I know what I’m looking for and when I have the facts laid out in front of me. Now I just plug in the numbers and see if it makes sense.

The original budget approved by the commission this summer would have resulted in a 7 percent increase in real estate taxes, primarily due to higher home values.

More than 300 people attended the commission meeting to protest the 7% increase. As a result, the Broward County Commission agreed to cut basic expenses such as limiting air conditioning in county offices but refused to close the Fort Lauderdale branch library on Sunrise Boulevard or end a program that helps single mothers collect child support.

In all, commissioners reduced the county budget by about $20 million, resulting in a tax savings of about $82 for the average homeowner over last year — a huge reduction over the proposed 7% increase previously approved.