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Dec 24, 2024

Trivia Question❓

Which historic Florida hotel, built in the 1920s, was among the first to feature a "golf course community," paving the way for future real estate developments centered around golf courses in the state?

Answer at the bottom of the newsletter

Florida's #1 Fastest Groiwing Appriaisal Firm

Is there really light at the end of the tunnel 

for the Florida Home Insurance Industry?

In a previous issue, we mentioned the possibility that the Florida Home Insurance industry might actually be on the upswing.  Here's an update:

 

Per the South Florida Sun Sentinal - Lawsuits against insurance companies in Florida have continued to decrease in 2024, following reforms implemented two years prior. Insurers report that these reductions have lowered costs, allowing them to stabilize or even lower the rates charged to policyholders. 

Who's Coming & Going?

A little more "Relief" for Florida Homeowners

On Election Night, Florida voters approved additional relief on property taxes. Throughout the state, residents who primarily live in their own homes are eligible for homestead tax exemptions. Most homeowners currently qualify for two $25,000 exemptions, totaling a fixed $50,000 deduction from their home's assessed value each year. Beginning in 2025, one of these homestead exemptions will be adjusted annually for inflation. This means that if inflation rises, the exemption amount will increase accordingly.

Did you know?

  • Fannie Mae maintains a condo building blacklist, and Freddie Mac requires lenders to underwrite condominium projects based on the Selling Guide requirements before selling the loan.

SEO and YOUR Website

Statistics show that nearly all sellers (93%) work with an agent at some point during their journey.

 

 

Sellers who worked with an agent were more likely to hire the first person they contacted (59%) compared to buyers (47%). The difference is even more drastic among first-time sellers (64%) compared to first-time buyers (40%).  

 

While seller urgency obviously might play a big role in that selection, (especially among sellers influenced by disruptive life events like a job transfer), it seems the biggest factor could be first impressions, in person or online.

 

When it comes to communication, 53% of buyers who worked with an agent preferred texting plus another 13% favored email for a total of 66% of all sellers looking for a selling agent.

 

Only 33% preferred phone calls. 

 

Promoting these means of reaching you will provide dividends, and you should review your online presence to conform to these statistics to stay ahead of the competition.

 

💡 Answer to Trivia Question:

The Biltmore Hotel in Coral Gables, Florida, opened in 1926 and was one of the first luxury hotels to incorporate a golf course into its design. This concept of a "golf course community" helped inspire future real estate developments throughout Florida, making golf-centered neighborhoods highly desirable across the state.

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Information, Tips and Trends about the Florida Real Estate Market, sponsored by Lora Keller of SWFLAppraisal.com

© 2025 The Florida Real Estate Newsletter.