Did You Acquire Property in 2022?

You may be eligible for Tax Reduction Benefits!

Homestead Exemption:

You may qualify for substantial tax savings with the homestead exemption if you are a permanent Florida resident. This exemption is not automatically applied to your new home. As the new owner, you must apply for the exemption with the Property Appraiser’s office.

Homestead exemption could save you $500 - $1,000 each year. You can't rely on current taxes as an estimate following a change in ownership as these represented the seller’s taxes. The Assessed Value of your home resets to full Market Value in the year after you acquire the property, which could result in much higher taxes. Make sure to connect with a trusted real estate professional…

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There’s no doubt today’s housing market is very different than the frenzied one from the past couple of years. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis. While there may be a few similarities, when looking at key variables now compared to the last housing cycle, there are significant differences.

In the latest Real Estate Forecast Summit, Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), drew the comparisons below between today’s housing market and the previous cycle:

There’s Opportunity in Real Estate Today And in today’s market, with inventory rising and less competition from other buyers, there’s opportunity right now.…

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Sandestin.floridaFlorida Still No. 1 for International Buyers!

About one in four (24%) international buyers opt for a home in Florida, finds Coldwell Banker study, compared to No. 2 California (11%) and No. 3 Texas (8%).  According to the Coldwell Banker International Buyers Guide, about one in fourof international buyers purchase a home in Florida. Percent of international buyers by state Florida: 24% California: 11% Texas 8% Arizona: 7% New York: 4% In 2022, the highest dollar volume among international buyers in the United States came from China, followed by Canada, India, Mexico, Brazil and Colombia. “Florida and Arizona tend to attract buyers from Latin America, Europe and Canada, who are looking to purchase properties in warm climates for vacation purposes,”…

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While following the CDC's recommended guidelines and Florida Gov. Ron DeSantis' 30-day stay-at-home executive order, there are still many ways we can support both our local and national communities during this unprecedented and difficult time. SRE is proudly invested in our communities and we feel that, together, we can all make a positive impact! The following offers a few suggestions on how you can help.

 

Support Restaurants and Cafes

You can help local restaurants stay in business by ordering takeout, or if you are unable to or unwilling to do that, simply purchase gift cards and/or merchandise! Another great way is to support servers and other restaurant employees that have been laid off by donating to a nonprofit such as the Restaurant…

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Allegiant Airbus

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Vacationers will now find it even easier to visit the beautiful beaches of the Florida panhandle due to Allegiant Airlines announcing five new routes to the Destin-Fort Walton Beach Airport (VPS). To celebrate one of the biggest expansion in Allegiant’s history, the airline is offering introductory one-way fares as low as $33.*

Growing from five destinations in 2016 to 41 destinations, Allegiant’s expansion coincides with the Destin-Fort Walton Beach Airport’s rapid growth. In total, VPS passengers have increased from 915,560 in 2016 to approximately 1.7 million in 2019.

“Allegiant has delivered extraordinary compounding impacts to our region,” said Okaloosa County Commissioner Carolyn Ketchel. “The success story continues with…

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Sandestin Investments Unveils Renderings of new Sandestin Hotel

 Sandestin Investments, LLC released final external renderings of the Sandestin Hotel which broke ground September 2018.  The new 250-room full-service hotel is located adjacent to the Baytowne Conference Center at Sandestin Golf and Beach Resort. Completion of the hotel is slated for April 2020.

“The vision for the Sandestin Hotel has always been to reflect an elegant, coastal design. These external renderings convey that luxurious, yet approachable vibe we envisioned, and we’re thrilled to share them,” stated Sara Becnel, vice president of development of Sandestin Golf and Beach Resort. “As we elevate our image, we will continue to adapt to our guests’ needs and offer exceptional…

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A new survey conducted by Ipsos Public Affairs found a majority of Americans want to buy a home and think now is a good time to do it. In fact, a full 65 percent of respondents said they feel homeownership would be a dream come true or an accomplishment to be proud of and 72 percent said now is a good time to buy. The survey also found very few current renters who said they’d prefer to continue renting. In fact, just one in ten said they prefer renting to owning. But despite their desire to own their own home, many Americans have misconceptions about what is required to achieve that goal. For example, the survey found two-thirds of participants believed they’d need very good credit in order to qualify for a home loan and nearly half thought a good credit…

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