March 15, 2007 - Just Listed - Gorgeous CBS 4/3/2 on 2.5 acres
Please take the time to preview this listing.  It is a beautiful home, built in 2000 and meticulously maintained.  Asking only $459,900 (incredible) - view whole details here:  www.JupiterFarms153.com.

Nov 25, 2007 - Jupiter Farms Residents Christmas Trees go on sale Dec 1.
The Jupiter Farms Residents Annual Christmas Trees Sale begins Saturday December 1st at 8am at Janco Gardens Nursery (North side of Indiantown Rd, West of Jupiter Farms Plaza).  All proceeds will go to the JFR Scholarship Fund.  This year's goal is to provide four $1000 scholarships to deserving local seniors.  Volunteers for setup are needed.  Please call Jim or Judy Spillman at (561) 746-3875 or jjfoxtrotters@bellsouth.net.

Nov 14, 2007 - How taxes currently work - how much will taxes go up if I buy now?
I was asked recently to explain exactly when and how property taxes go up after you buy a property.  Here's a simplified example to illustrate how it works...

Say you buy a home in February 2008 for $400,000... 

Assume the following statistics of this fictional home:

• Assume the seller has had it homesteaded for 10 years

• Assume the 2007 appraised value was $375,000 (according to the property appraiser's office, not the bank appraiser)

• Assume the 2007 assessed value, thanks to the 10 year long homestead, was only $228,000

• After the $25,000 homestead exemption, 2007 taxes were $4060 (which works out to approximately 1.8% of the assessed value - but please note: this percentage is just a rough number for illustration purposes only)

• Also assume in 2008 the appraised value of the home will go down 8% due to market downturn.

• For simplicity, assume no changes to the tax rate (millage rate) and no new laws related to taxes (i.e. the new tax plan we're voting on in January).

Now you buy it in February 2008.  Here's what will happen:

• 2008 taxes - these taxes will be based on who owned the property on January 1, 2008 and what their assessed value was on that date.  Even if you closed as early as January 2, 2008, you will still get the advantage of the seller's homesteaded assessed value because THEY owned it on January 1, not you.

• 2008 taxes - because the property is homesteaded, the assessed value can only increase a maximum of 3%.  So the assessed value for 2008 will be $234,840 ($228,000 + 3%).

• 2008 taxes - as stated above, the appraised value of the home will go down 8% to $345,000 ($375,000 - 8%).  This won't matter for 2008 taxes, but it will come into play for 2009.

• 2008 taxes will be based on the previous owner's assessed value of $234,840 because they owned the property on January 1.  After the $25,000 homestead exemption, and assuming the same 1.8% tax rate, taxes for 2008 will be about $4196, only $136 higher than 2007.

Now assume in 2009 the appraised value of the home still goes down, but only 4%.  Here's what will happen:

• On January 1, 2009, YOU were the owner of the property.

• If the appraised value went down 4% over 2008 as stated above, the new appraised value will be $331,200 ($345,000 - 4%).

• Since this is the first year in which YOU were the owner as of January 1st, this will be your first year of homestead.  The good news is you get the $25,000 exemption.  The bad news is your assessed value now starts over equal to the appraised value.  Your taxes will be calculated on $331,200 (your new assessed value) minus the $25,000 exemption.  In this case, your 2009 taxes will be about $6124.  That's a much bigger jump of $1928 over 2008.  The longer the property had been homesteaded at the time you buy it, the bigger this jump will be.

What I find typically confuses people is the fact that taxes in any given year are calculated based on who owned the property as of January 1st of the tax year.  In the example above, you closed in February of 2008, but you didn't "feel" a huge jump in taxes until November 2009 when the tax bills for 2009 came out.  That's 21 months!  Also, notice that the purchase price of $400,000 did NOT automatically become your new assessed value.  The property appraiser's office does consider the purchase price of the home, but also takes into account the sales of similar properties around your home, and other factors to calculate your appraised value.  If you disagree with your appraised value and think it's too high, you can always appeal it with the property appraiser's office. Be aware, however, there is a deadline for this.

So, as I said to the family who originally asked me this... clear as mud?  I'm happy to go over this with any of my neighbors in person.  Just shoot me an email.

Nov 1, 2007 - Tax update...
In it's simplest terms, here's what the new proposed tax plan actually includes:

• Doubling the current homestead exemption to $50,000.  Does not apply to school taxes.

• Portability.  Homesteaders can take up to $500,000 of their current exemption with them when they move.

• Tangible tax exemption.  Businesses can deduct up to $25,000 for tangible items (computers, etc.)

• 10% cap for non-homestead property.

• Save Our Homes stays completely intact.

• No benefit for low-income seniors, first-time homebuyers, "working waterfront" or affordable housing.

I've got more detail coming in my Nov 1st mailing.  If you're not on my mailing list, please email me and I'll be happy to add you.

Oct 29, 2007 - Tax update...
Well, we have a new plan for the January 2008 ballot, and it's pretty much what I detailed back on October 10 (see below).  The Senate today passed their plan, told the House to "take it or leave it," and the House chose to take it, rather than risk *nothing* passing for this session.  The most significant part of this new plan for us realtors, is portability.  Portability means current Florida homesteaders can take up to $500,000 of their current exemption with them when they move.  This measure will be retroactive to anyone who moved in-state in 2007.  I recent spoke to a Ft. Lauderdale police officer who's been in his homesteaded home for so many years, his taxes are only $2200 per year.  He wants to move to Jupiter Farms, but without being able to bring his current exemption with him, his taxes would jump to $6-8000!  If this bill passes in January, he is free to move here and not worry about such a significant increase in his taxes.  (There's more to it, but that's basically how it works).  The hope is, when the people who have been waiting to move in-state actually start doing it, we should see a pick up in the real estate market.  Governor Christ promised a "sonic boom" for real estate with this plan... it will take several months to see if he's right.  According to polls, this plan has a really good chance of getting well over the 60% majority vote it needs in January to pass.

Oct 26, 2007 - Terrible press regarding real estate market - Don't Panic!
WOW!  The papers have been hammering the real estate market the last few days.  I have seen the gloomiest articles about the housing market just yesterday and today - maybe it's because Halloween is coming up, but I haven't seen such terrible reporting in a while.  What none of these articles mention, is the potential impact significant tax relief could/will have on our local market!  The Legislature is really trying to put something "substantial" together that will not only make it on the ballot, but will hopefully pass!  If they can come to a meeting of the minds, we will hopefully see an extra $100,000 (+/-) deduction in Palm Beach County, portability (retroactive to anyone who moved in 2007), a value cap for non-homesteaded property (2nd homes, investment & commercial property), senior and/or first time homebuyer benefits, plus much more.  If this happens, and it passes in January, you will absolutely see the real estate market pick up. What's on the table right now is the most promising proposal to date.  So, at least until midnight Tuesday when the Legislature has their absolute latest deadline, don't panic!  Instead, keep your fingers crossed for meaningful relief.  It will be exactly what the market, at least in South Florida, needs.  For more inspiration, read today's Sun-Sentinel article here.

Oct 19, 2007 - Jupiter gets driver license office
The Florida Department of Highway Safety and Motor Vehicles has opened a new driver license office at 10164 W. Indiantown Rd (in the outbuildings of Jupiter Farms Plaza).  The office is open from 8-5, Mon/Weds/Fri & 8-6 Tues/Thurs.  Closed weekends. 

Oct 19, 2007 - Property Tax update...  Legislators taking a break...
Our State Legislature has been sent home for a weekend break.  They will resume next week to continue trying to meet the October 29th deadline with *something* that has a chance of passing in January.  We'll see!

Oct 18, 2007 - Property Tax update...  House Democrats reveal their tax plan...
With the October 29th deadline approaching to get something on the January ballot, the House Democrats revealed their plan today which promises deep cuts for South Florida, especially Palm Beach County.  The highlights of their plan:

• Grant all permanent Florida residents with a homestead a property tax exemption equal to 40 percent of a county's median assessed home value, to be phased out over time. In Palm Beach and Broward counties, the average initial exemption would top $100,000. (That's in addition to the existing $25,000 exemption - Save Our Homes and the 3% cap stay intact).

• Grant portability that would let homeowners keep their Save Our Homes tax breaks when they move.

• Give low-income seniors (household income of $24,000 or less) a 100 percent exemption up to the county's median home value. This would exempt the first $254,000 of a home's value from taxation in Palm Beach and Broward counties.

• Limit to 7 percent the annual increase in the taxable value of second homes, commercial properties and rental properties

Read the Sun-Sentinel article here.

Oct 10, 2007 - Property Tax update...  Special session extended, new plan in the works...
The ongoing special session to slash the state budget will be extended through Oct. 22 to put a property tax proposal championed by Gov. Charlie Crist on the Jan. 29 ballot, legislative leaders announced Wednesday. On the table now:

• Doubling the homestead exemption, except for school taxes, and skipping the $25,000-$50,000 bracket to instead exempt the $50,000-$75,000 increment to safeguard rural counties that have many inexpensive homes. Five-year cost: $4 billion.
• Limited portability: Letting homeowners take their Save Our Homes benefit to a new house, although it was not certain whether this would be as Crist originally supported, which would be letting movers take the full tax savings to a more expensive house and a percentage of it to a cheaper house, or the phased-in increases the Senate pushed in April. Five-year cost: as much as $3.6 billion.
• First-time home buyers: Giving people buying their first Florida house a 25-percent break on taxes, with the amount decreasing over five years to zero. Five-year cost: $647 million.
• Tangible personal property: Exempting businesses from paying taxes on the first $25,000 of equipment and computers. Five-year cost: $627 million.
• Working waterfronts: Providing breaks for marinas and beachfront motels to let them pay a lower tax than one charged on the "highest and best use" of the property, which is generally a high-rise condominium. Five-year cost: $236 million.
• Affordable housing: Providing breaks for rental housing meant for low- and moderate-income residents. Five-year cost: $240 million.
• Low-income seniors: Exempting poor elderly homeowners from paying any property taxes at all. Five-year cost: $500 million.
• Renewable energy: Breaks for homeowners and businesses that use photovoltaic panels or solar water heaters or similar equipment. Five-year cost: tens of millions of dollars.

Read the Palm Beach Post article here.

Oct 7, 2007 - New Fire Station #14 moving right along
Plans for the new fire station #14, on the Northwest corner of Indiantown Road and Mack Dairy, are in permitting.  Construction is slated to begin this winter and should be completed sometime in the Summer or Fall of next year.

Oct 7, 2007 - Palm Beach County purchased more Jupiter Farms land to preserve it
Finally!  The County bought that 244 acre parcel on the Southeast corner of Jupiter Farms Rd.  The land abuts Riverbend Park and in the future will allow a second entrance to the park right from Jupiter Farms Rd.

Oct 4, 2007 - Might lawmakers go back to the drawing board for a totally new tax proposal?
Our State legislators are in special session right now to determine how they will shave $1 billion dollars off the State's budget and what to do to revive the no-fault auto insurance law.  On everyone's minds, however, is the looming election and whether or not the Super Exemption will make the ballot.  The Sun-Sentinel reports today "Determined to make good on a campaign promise that taxes will "drop like a rock," Republican Gov. Charlie Crist has asked the House and Senate to meet for yet another session — the fifth this year — before the end of October to find a way to slam the brakes on rising property taxes and then bring them down...Key leaders in each chamber are floating ideas among themselves for what could be done."  There is hope that maybe they will rewrite the proposal to include portability (take the Save Our Homes cap with you if you move) and/or something new altogether.  The article goes on to say "after Leon Chief Circuit Judge Charles A. Francis's Sept. 24 ruling, Republican and Democratic leaders say everything is on the table again."  If Governor Christ has his way, we will have an answer one way or another by the end of October.  Stay tuned!  (full Sun-Sentinel article here).

Oct 3, 2007 - DiVosta offers discounts to "Hometown Heroes" (firefighters, police, teachers, etc)
DiVosta (Pulte Homes) announced their new "Hometown Heroes Program" this week where qualifying heroes receive a $5000 discount toward the purchase of a new home in any of their Southeast Florida communities through the end of this year.  Military, medical and scholastic personnel (teachers) as well as police and firefighters are eligible.  The homebuyer must present a pay stub or work ID at the time of purchase to be eligible.  DiVosta/Pulte communities offering the discount include: Mallory Creek at Abacoa (Jupiter), Lakes at Tradition (Port St Lucie), Waterway Village (Vero Beach) and Pinewood Lake (Greenacres).  DiVosta/Pulte cooperates with real estate brokers, which means you are welcome to bring your own broker to represent you in the purchase.  Just make sure your broker accompanies you on the first community visit. 

Sept 30, 2007 - Why buy now?
"In 2008, existing-home sales are likely to rise and home prices are expected to recover as inventories dwindle." That prediction from the National Association of Realtors suggests that now is the perfect time for buyers to take advantage of a wide selection of homes and competitive prices. Also, real estate is, and always will be a great long term investment.  Virtually all of my clients buying in Jupiter Farms are buying to live here.  Why wait?

Sept 30, 2007 - Beware of Foreclosure Scams!!
It's really scary how many con artists there are out there preying on desperate homeowners who find themselves facing possible foreclosure.  Every time I read about another foreclosure scam, it makes me so angry!  It's kicking someone when they're down and it's reprehensible!  If you are in mortgage trouble, and someone gives you a solution that seems too good to be true, especially if it involves signing ANY KIND OF DEED - run away as fast as you can!  This is a scam!  No matter what anyone says, if you sign a deed, you no longer own your house - and the investor who promised to "sell it back to you" WON'T.  Like the saying goes, "if it sounds too good to be true, it probably is."  If you are skeptical about any offer to "save your home" - contact me.  I can put you in touch with true experts who can help you sift the real from the scam.

Sept 26, 2007 - Florida Secretary of State appeals the ballot ruling
The latest word is that the state will appeal the ruling of a Leon County judge which removed the proposed tax plan from our January ballot.  Secretary of State Kurt Browning (not the professional Canadian ice skater) has asked the appeals court to give the case directly to the State Supreme Court. (see Palm Beach Post article here).  Of course, more info as I get it...

Sept 25, 2007 - Property tax amendment ballot issue - More details...
The Florida Legislature goes into Special Session next week and will have to deal with this issue.  They were originally meeting to discuss how they can cut $1.1 billion from state programs, but now have to add this to their agenda.  Two things could likely happen - they could try to revise the language for the January ballot, or attempt to come up with a revised plan.  As of today there is no indication which way they'll go, or if there will be any appeal to the Leon County ruling filed.  (good Palm Beach Post article here).  Stay tuned for more info as I get it...

Sept 24, 2007 - New tax bill OFF THE BALLOT!!!
Breaking News!!...  A Leon County Circuit Judge today ruled that the language of the proposed "Super Exemption" was "misleading & confusing" and threw it off the January 2008 ballot!  (see Palm Beach Post article here). So what happens now?  I don't know!  I'm sure the issue will proceed through the court system until it gets to the Florida Supreme Court, but will it end up on the ballot now?  I'll continue to update this issue here as I get more information.

Sept 16, 2007 - "Boat docking park" coming to Jupiter Intracoastal
Hoping to help relieve the overcrowding - and commotion - on Peanut Island, state officials plan in 2008 to build a boat-docking park on the east side of the Intracoastal Waterway, just north of Donald Ross Road. The 30-acre vacant parcel will have a floating dock for about 10 average-sized boats in the five-foot-deep water.  There will be about a half-dozen sheltered picnic tables and trash barrels, but no bathrooms, running water or camping.  Access will be for boaters and hikers only. Allowing alcohol has not been determined.  Sounds great to me!  I can't wait to check it out!

Sept 12, 2007 - Jupiter named to List of "Top 25 Places to Live to Go to School"
Relocate-America.com named Jupiter to its annual list of the top 25 places to live to go to school!  Sarasota was the only other township in the entire State of Florida to make the list!  The top 25 schools are chosen based on communities with strong support and spirit for their local schools, high parental involvement, strong academic achievement and performance, caring faculty and staff and successful extracurricular programs with opportunities for children to explore and excel in many areas of interest. Other considerations include communities with strong public schools, private institutions, charter schools and other specialized training schools.

Sept 12, 2007 - Bank of America Closing Jupiter Farms location in Dec '07
I got a letter from Bank of America today.  They are closing the Jupiter Farms Publix location on December 7, 2007.  The next closest location is in the Chasewood Plaza in town: 6410 W Indiantown Rd (map).  No word yet on which bank (if any) will take their place at Publix...

Sept 10, 2007 - Lease Option Explained
I was asked by a client today to explain how a lease-option works.  Turns out, it wasn't what they thought!  A lease-option (also known as "rent to own") does not obligate the buyer to ultimately go through with the sale.  My clients were not aware of this.  Here's how they actually work... 

At the outset, a buyer and seller agree on a purchase price for the property and enter into an "option agreement to purchase and sell," written by an attorney.  This agreement must include the buyer putting down a deposit which is normally non-refundable.  The closing date could be six months, a year, or even two years in the future, however long the parties agree to.  The purchase price is set NOW, in the option contract. 

Also included in the option contract is the agreement for the buyer to lease the property between now and the closing date, paying a monthly rent to the seller until closing.  Sometimes a portion of the rent is put toward the purchase price of the house.  When the closing date arrives, the seller MUST sell the property to the buyer for the price they agreed upon in the beginning, even if the value of the property has gone up.  The buyer, however, does NOT need to go through with the purchase.  They can back out.  Doing so, however, will mean forfeiting the deposit they made and any amounts of rent that were applied. 

In a seller's market, lease-options are NOT very common because the price has to be set up front, however, in a buyer's market, sellers are much more open to "creative contracts" like this.  Honestly, I'm not a fan of lease-options.  The Florida real estate market is not predictable, especially if you have to look a year or two into the future.  How do you determine what a property will be worth a year from now?  Two years?  There are many options for buyers looking to buy who don't think they're ready to own, and for sellers looking for creative options to offer, to make their property marketable to a wider range of buyers.  If you have been considering a lease-option and just aren't sure, give me a call (561-543-8715) or email me.  I'd love to sit down and talk with you...

Sept 8, 2007 - Park Avenue BBQ (PA BBQ) is Open!
Park Avenue BBQ opened at the Jupiter Farms Shopping Center over Labor Day Weekend and from the look of their parking lot, they're a hit!  The popular restaurant is packed every night!  Good luck to PA BBQ, I can't wait to make it over there myself.  Talk about good baby back ribs...

Sept 7, 2007 - Jupiter Farms Middle School delayed indefinitely
It was reported in the Palm Beach Post this week, "Jupiter Farms middle school: The new school was scheduled for a 2010 opening but was delayed indefinitely because of insufficient state funding."

Sept 7, 2007 - Jupiter Farms Park improvements
The next construction phase of Jupiter Farms Community Park is set to begin in January 2008.  This phase will include construction of the Western Warm up area, the Western Arena, a parking area for forty trucks and trailers in the Equestrian Center area and an entrance off Randolph Siding Rd.  Improvements to the current ring will part of a future phase not yet scheduled.  Also slated for the future:  parking on the spine road that runs through the southern part of the park, a heart trail, several lakeside picnic pavilions, another playground and two basketball/tennis courts.  The skate park is still planned too, most likely to be similar to the one in Delray Beach.

Sept 7, 2007 - Jupiter Farms Post Office
It looks like we will be getting a permanent post office finally!  Word is that it will be located in the Jupiter Farms Shopping Center (Publix), and will include a small retail operation.  The building the post office will be in is scheduled to be completed by December 2008 and the post office could be in business before the season. 

Sept 7, 2007 - Calvary Chapel construction well underway
It was reported in this month's Jupiter Farmer that Calvary Chapel, under construction on the West side of the Jupiter Farms Shopping Center, is scheduled to finish in March 2008, in time to hold Easter services there.

August 30, 2007 - Property Tax Plan Comparison
Did you miss my mailing this month with the property tax plan comparison information?  I've posted it here on the website.  It explains both the current system and the proposed "two-tier" system (aka the "Super Exemption") and includes step by step instructions on using the property appraiser's comparison calculator located on their website.  Get it here. (PDF)

August 13, 2007 - Public has an emergency generator!
Good news!  The Jupiter Farms Publix is on the list of stores with emergency generators!  Hopefully we won't have any hurricanes ever again, but for those of us who lived through Frances, Jeanne & Wilma this is VERY welcome news!