Archive for December, 2007

Florida Super Exemption to be Voted on in January Primaries

The following article is from the Town of Jupiter’s December newsletter, The Town Times. The Super Exemption is a hot topic here in Jupiter, as I’m sure it is all over Florida.  For more information, you can view our previous post, Residential Homestead Property Tax Simulator for Florida.  Susanne Quirk

Voters in this January’s primaries will be making important decisions impacting the future of our National Leadership. But in Florida, voters may also be determining the future of our Property Tax system – the so-called “Super Exemption” for homesteaded properties.

Recently, the super-exemption ballot language came under fire when challenged in court. The Judge ruled that as stated, it was unconstitutional and confusing to voters. However, with special sessions fast-approaching, it is likely that this language will be revised and some form of the amendment will be on the January ballot.

If passed as outlined, the super-exemption will provide tax-payers with the option to move to a new formula for determining their Homestead Exemption. Under the current program, Homesteaded properties in Florida receive a $25,000 exemption. Under the new, proposed super-exemption, the amount would not be fixed, but would be determined based on the value of the property.

In some tax-payers’ cases, this would provide additional tax savings now and for some time into the future. However, some taxpayers may find the current system is more beneficial. Because of this, the Legislature added an exception, but it carries a “no turning back” provision. Florida residents who prefer the current system can elect to stay with it, but once they register under the new, super-exemption they cannot turn back to the old.

The Town of Jupiter has created a tax calculator on its web-site to help residents understand the potential impact to the Town’s portion of their tax bill. And the Palm Beach County Property Appraiser’s site has information on current property values, and a program to help calculate the impacts of future changes. The Florida House of Representatives and the Florida Senate websites are also good resources for following the Property Tax Reform debate.

With the recent court ruling and the potential for more changes to the amendment, it is more important than ever for Florida voters to be informed when they go to the polls in January. Whether you own a Homesteaded property now, or intend to in the future, it pays to understand the potential impacts of a super-exemption on your individual household, and your local government.

Visit the Town of Jupiter’s website to view the interactive tax calculator.

Visit the Palm Beach County Appraiser’s website to calculate the impact of the homestead exemption to your property. You will need to find your current property value by doing a Records Search. Then click on the “Taxable Value Calculator”. For Property Tax Reform information, click on “Proposed Property Tax Reform” from the homepage.

Visit Florida House of Representatives to view Florida Property Tax Relief and Reform Documents.

For more information on tax reform you can visit the Florida Senate Finance and Tax Committee.

Merry Christmas From Cobblestone Realty

Merry Christmas and Happy New Year

Everyone at Cobblestone Realty would like to wish you and your family a joyous and safe holiday and a prosperous new year. May your hopes and dreams be realized. May it be a wonderful year for you and the ones you love.

We are thankful for the warm welcome Blogging Jupino has received from our community. We have built some great relationships as a result of our blog and we look forward to making more. Thank you for your continued support.

Merry Christmas from Joe & Susanne Quirk, Tom Ryan, Jenifer Bruk, Vicki Copani, Grace Desposati, Kathy Donahue, Mike Galleher, Ed Kelly, Kerry Lopasky, Susan Mason, Mike McNiff & Lisa Moore

For the Last Minute Christmas Shopper

I’m a last minute shopper. My shopping never begins before Black Friday and is very rarely complete before Christmas Eve.

Luckily, retailers understand that there are many of us shopping procrastinators out there. Here are the holiday hours for some of the malls and shopping centers in the area.

The Gardens Mall will be open from 8 a.m. – 10 p.m. now through Saturday. Sunday from 9 a.m. – 9 p.m. Monday and 8 a.m. – 6 p.m.

For the die-hard discount shoppers, the mall reopens Wednesday from 8 a.m. – 9 p.m.

Palm Beach Mall – Open today and Friday from 8 a.m. – 10 p.m. Saturday from 9 a.m. – 10 p.m. Sunday 9 a.m. – 10 p.m. and Monday from 8 a.m. to 6 p.m.

Downtown at the Gardens – Friday and Saturday from 10 a.m. – 10 p.m. Sunday from 11 a.m. – 7 p.m. and Monday 10 a.m. to 6 p.m.

City Place – Thursday 10 a.m. – 10 p.m. Friday and Saturday 10 a.m. – 11 p.m. Sunday 11 a.m. – 9 p.m. Monday 10 a.m. – 6 p.m.

Good luck and happy shopping!!

Fortune Magazine Forecasts Population Growth in Florida

Palm Beach County has been hit hard by the housing market. Foreclosures were up by 68% in November. We have a four year supply of houses on the market and the Palm Beach Post reminds us almost daily how bad our market is. All the negative talk can stall our market even longer.

Well, I am here to send some positive news your way. The December issue of Fortune magazine highlights some of their best stock picks for 2008. St. Joe, a Florida based company, was listed as one of the top “Ten Strong Stocks for ‘08.” St. Joe Co. is the biggest private landowner in Florida. The housing market brought the stock crashing down from $82 to $28.

What is interesting is why the stock is forecasted as a top pick. As stated in the article, “The Census Bureau is projecting 33% population increase for Florida – the equivalent of six million new residents – between now and 2020.” Reaffirming our philosophy of why we began investing in Florida. Florida is unique to most other states in the nation. Our population is projected to keep increasing not decreasing. Our state is a top destination to retire for baby boomers. Our industry is expanding with the increase of businesses moving into our area. Including in our immediate area where Governor Charlie Crist just approved $94 million in state funding for the Max Planck Society to bring their German based bio-imaging center here to Jupiter.

We may be going through some tough times right now, but we have some strong signs of a promising future. What we do know is that housing prices have been the lowest they have been in years. Whether they will keep dropping is questionable. What we do know is that we will recover and prices will go back up. Making now a great buying opportunity.

Little Known Ways to Lower Your Energy Bill

By Susanne Quirk

One of the benefits of living in Florida is not incurring the outrageous costs in keeping your home warm in the winter. Even so, energy bills can still get out of control. The following are tips from FPL to help you reduce your energy costs.

1. Cool your home at 78° or warmer with the thermostat fan switch on “auto.” For additional savings, raise your thermostat to 82° or warmer when you’re away from home.

2. Heat your home at 68° or cooler with the thermostat fan switch on “auto.” To save even more, lower your thermostat to 65° or cooler at bedtime or when you’re away from home.

3. Install a programmable thermostat to adjust the temperature automatically and maximize your energy savings. It also helps to maintain a comfortable temperature when you wake up or return home.

4. Clean or replace your air conditioner’s filter every month to trim your cooling costs and help your unit run more efficiently.

5. Turn off your ceiling fan when you leave the room. A fan that runs constantly can cost up to $7 a month depending on size and age.

6. Avoid pre-rinsing dishes before putting in dishwasher. It can save up to $70 a year.

7. Limit the time you run your pool pump:

• Summer – run it no more than six hours a day
• Winter – no more than four hours a day

8. Adjust the water level on your washing machine to match the load size, especially when using hot water. Always use a cold rinse.

9. Clean the lint filter in your dryer before every load to dry your clothes faster and save money.

10. Use the auto sensor function on your dryer, if you have one, to conserve energy by not over-drying your clothes.

What You Should Know Before Buying a Home

By Joe Quirk

I read in the paper the other day that there are four years of housing inventory currently on the market. Whoa! That’s a lot of houses and that tells me that there are great opportunities for buyers. The buyer has the upper hand right now. You can take your time shopping around, learn about the neighborhoods and be choosy about the home you plan to purchase.

With that said, it is a good idea to take a few things into consideration before taking the plunge. Doing a little planning beforehand will make for a focused search and will prevent you from wasting a lot of time while conducting your search.

1. Get a copy of your credit report. The top three credit agencies are Equifax, TransUnion and Experian (formerly TRW). Reviewing your credit report before applying for a mortgage will you help you to clear up any discrepancies on your report.

2. Get your papers in order. You will need to provide documentation to your mortgage broker to qualify for a mortgage. You mortgage broker will be able to provide you with a list of records needed.
3. Get preapproved for a mortgage. Find out how much you can afford. It is one of the first questions your Realtor will need to know. It helps to eliminate the homes that are not within your price range. Your Realtor should be able to recommend a mortgage broker to you to help you prequalify for a loan. Prequalifying for a loan will also help to make the negotiation process of buying a home run smoothly. Did you know that the general rule of thumb is a mortgage equal in value between two and three times our gross income?
4. Search online. Most consumers start their search online and I highly suggest all interested buyers do that. It gives you a starting point and will help you to communicate to your Realtor® what you are looking for and, just as importantly, what you are not looking for. It makes for more meaningful communication with your Realtor® and will help your Realtor to hone in on the key points important to you.
5. Shop for neighborhoods. There are many great neighborhoods in Jupiter, Florida and the surrounding areas. Along with the price range, you will need to decide if you want to live in a gated, golf, family friendly neighborhood. Our communities page can give you some insight into the neighborhoods in the area.
6. Assess your expenses when buying a home. Don’t forget the incidental costs of purchasing a home. Some communities include homeowners fees. You’ll also want to consider the cost to maintain your home. For example, moving from a home with no pool to a new home with one will increase your water, heat and maintenance costs. Property taxes are high and should always be included in your monthly expense.
7. Prepare to bring some cash to the table. You will need a considerable amount of money to purchase a home. The typical down payment is 20% of the purchase price. Then there are the closing costs that can be about 7% of the home price.

8. Find a good Realtor®. Finding a good Realtor® is wise for a number of reasons. A Realtor who is familiar with the area and the communities within the area can consult with you on finding the right community for you. A strong knowledge of real estate laws and practices can help you through the complete buying experience from applying for a mortgage to the closing. Lastly, a Realtor® with strong negotiation skills are critical when purchasing or selling a home. You will want a Realtor® who can best represent you when negotiating the purchase of a home.

Prescription Discount Card for Palm Beach County Residents

Written by Susanne Quirk

Palm Beach County residents can receive a prescription card to receive discounts on prescriptions not covered by your health insurance. The program is offered through the NACo (National Association of Counties) and is sponsored by Caremark. Anyone living in Palm Beach County is eligible for the program regardless of health, age and insurance status. The average savings is about 20% of the qualifying prescription and as much as 50% off mail order prescriptions. Funny, the card can also be applied towards pet prescriptions.

Call 1-866-489-7594 for further information about the program.

Dining Out in Jupiter at Samantha’s

By Susanne Quirk

We dined at Samantha’s in the Jupiter Shoppes this weekend.  It was our first visit there although Samantha’s has been around for a couple of years.  I was eager to go because close friends of ours had recently dined there and raved about the place.  I don’t mind saying that they are quite the critics when dining out.  Their reviews carry weight with us because they dine out almost nightly and have acquired a long list of restaurant recommendations in the process.    They won’t hesitate to give you a detailed critique along with their recommendation! 

Samantha’s is quietly tucked away in the Jupiter Shoppes located next to the now defunct billiards place.  Inside and outside dining is available.  The restaurant is very cozy and intimate.  There are not many tables and that is a nice change from the mega chain restaurants that are flooding the area and can be so difficult to get into.  The seating is limited and I would advise making reservations.  We did not have reservations, however the hostess was very pleasant and fortunately was able to squeeze us in.   

The menu is extensive and I wanted to provide it here for you.  So, I searched online and in my search I also found some great reviews consistently making claims that the calamari is to die for.   We didn’t have an appetizer to give you our thoughts on that, but we did have dessert.  But before I get into that I’ll go over our entrees first.  I had the usual Filet Mignon and I was quite impressed.  It wasn’t my preferred Oscar style but I was pleased with all 11 ounces encrusted with Gorgonzola, Roasted Garlic Cream & Red Wine Reduction - all for $38.   Great price since we’ve paid more than that for smaller portions.  My steak was so big I didn’t pay too much attention to the mashed potatoes and seasoned vegetables.  

Dessert was the best part of the dinner.  I perused the dessert menu and found a delicious bread pudding loaded with vanilla bean ice cream, bananas and drizzled with caramel.  Pure heaven!

We enjoyed everything about Samantha’s.  The food was great, the service was top notch and I can’t wait to go back for the dessert. 

There’s a great website for those who dine out frequently www.SouthFloridaDines.com.  This website is packed with restaurant reviews, menus and more.  They also offer gift certificates at discounted rates.

Selling Your Home In 30 Days

By Joe Quirk

Barbara Corcoran was on the Today Show recently with tips to Sell Your Home In 30 Days.  Some good tips to help homeowners focus on the important factors when selling their home and one very misleading tip that I would not recommend.  

1. Go online and shop for your own house.Most homeowners start their research online and that is a great start.  It gives you an understanding of where you are at in the market.  Many sites like Realtor.com, Trulia, and Zillow will allow you to search for current listing for selling prices and prices of recent homes sold.

2.  Find the least expensive 5 houses like yours and price it 5% below those prices.  I find this recommendation to be nothing more than media fluff.  It sounds great to the masses, but this is not a common strategy used among Realtors®.  Current selling prices won’t necessarily place you in the ball park for what the buying market is demanding.  It’s not what the houses are selling for, but what the houses have sold for, when they sold and other factors in the market that determine your selling price. 

We are in a very different market that is changing rapidly.  Pricing a home based on homes sold two months ago may lead you in the wrong direction.  Sellers vary in their reasons for pricing their homes and in a down market it is usually priced high.  Take considerable time in discussing the sale price of your home with your Realtor®.  It is a primary factor on the success of the sale of your home.  Following the advise of your Realtor® will increase the chances of selling your home. 

3.  Get rid of the clutter.  Envision when you walk through a model home.  What do you see?  It is functional – the furniture has a purpose.  Aunt Mary’s extra sofa isn’t sitting in the dining room.  There are pictures, but very few.  As Barbara mentioned,  buyers need to imagine themselves living in your home.  Get rid of the excess family pictures.  You may want to replace picture collections with  framed prints that accent the colors and furniture in your home.  Get rid of all papers.  Go through your closets and store extra linens, etc. elsewhere.

4.  Make your home look picture perfect like a model home.  Provide plenty of light throughout your home.  Buyers purchase homes that have plenty of lighting because it makes your home seem bigger and brighter. 

5.  Clean your home.  Replace old shower curtains and  put fresh towels in your bathrooms.  If you have children, have your Realtor® show your home by appointment only to help relieve the pressure of keeping everything in order all the time.  Hire a cleaning crew if you cannot do the job yourself and always make sure that your home smells inviting. Light a few scented candles and if you have pets, make sure that those odors are eliminated prior to showings

6.  Hire a killer Broker.  At the end of the day, what will get your house seen will be its exposure to the buying market. Your Realtor® will have the ability to show your home to more people in less time than if you try to sell it by yourself. That’s not to say some homeowners don’t sell their homes on their own, but that type of transaction is more probable in a “seller’s market” than the market we are in today.

If your want to sell your house, consider these tips but always contact a Realtor® to represent you .  Feel free to contact us for more information on who may best represent you.