Foreclosed Homes and Condos on the Rise,

Foreclosure Homes, Miami Beach Real Estate Foreclosures

Nationwide, foreclosures have climbed closer to record levels as thousands of homeowners struggled to make their payments and began loosing their properties to foreclosure. Miami Beach real estate foreclosures have more than double this past year and we are starting to see more and more Miami Beach real estate auctions. There are a number of ways to take advantage of foreclosures, depending on the stage of foreclosure of the property. At first, when the homeowner defaults on their mortgage, they receive a notice of default from the lender and are given a chance to catch up on their past payments. If this is not possible, then the property reverts back to the lender and is then considered an REO or real estate owned property, as it is owned by the bank who had given the loan on the property.

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Florida Property Tax Cut, Miami Beach Real Estate

Cutting your Florida property tax by 25% a year? That's what Florida voters will decide in the fall. But adversaries of the plan say that in reality that’s just putting money in one of your pockets and taking it out of another.

Cutting property taxes by 25% would mean an 8 to 9 billion dollar savings for Florida property owners. The state would eliminate property taxes for schools, and make up that money by increasing the sales tax by 1 cent, raising an additional $3.4 billion.

Supporters of the bill say they'll make up the shortfall for schools by cutting spending.

The plan would also cap tax increases for part-time residents and businesses at 5% instead of 10%.

The tax cut plan will require a 60% voter approval to pass.

Full article...Tax Cut, Miami Beach Real Estate