The Big Crap Shoot

“Lower taxes and reduce government spending” or “Raise taxes and increase government spending”.  What actions will stimulate the economy ?  Or will the current economic trend run its course in time and things will start to improve eventually  no matter what we do? 

     Our Florida Chamber of Commerce has its convictions.  And apparently our Florida Realtors organization agrees with them.

     When you read statements presented as facts; statements that seem to be suppositions, you have to wonder why are they presenting the information that way?  Why are these folks trying to influence me in one direction rather than give me an objective review of both sides of the situation?

     Everyone is doing it.  Everyone.  We are so polarized it is impossible to get a clear understanding of issues.  Here is my abridgement an email Florida Realtors sent me today.  Judge for yourself.  Pick out assumptions that are stated as facts…

Amendment 4 would revive housing market

TALLAHASSEE, Fla. – Sept. 28, 2012 – Leticia Adams, director of Infrastructure and Governance Policy for the Florida Chamber of Commerce, wrote the following editorial that appeared in today’s Sunshine State News:

When Floridians head to the polls in November, they should vote yes on Amendment 4, giving homeowners and small businesses across the Sunshine State a chance to rein in property tax hikes.

Florida’s economy has traditionally been dependent on a strong housing market, but this important sector was impacted hard by the Great Recession that the Sunshine State is still recovering from. Florida voters can give this core component of our economy a needed boost and lead the way to new growth and opportunities by supporting Amendment 4 on the November ballot.

Amendment 4 will untie the Legislature’s hands so it can put an end to the unfair state “recapture” law. Under the recapture law, property taxes can increase on homes even as their property values plummet. Asking Floridians to pay more taxes on homes that are declining in value is simply wrong and Amendment 4 will let the Legislature end this injustice.

Amendment 4 reduces the cap on assessment hikes for non-homestead properties from 10 percent to 5 percent each year. This will be a boon to small businesses, which are the backbone of Florida’s economy. Small businesses create four out of five new jobs in our state and Amendment 4 will help them continue to remain an essential part of our economy. Amendment 4 will give small businesses across Florida needed tax savings that can be used to reinvest in our communities by creating new jobs, lowering prices for consumers, and increasing salaries for employees.

By lowering the cap on assessment increases, Amendment 4 will help recruit more companies to invest in Florida. These new investments will provide more economic growth and new jobs. Florida TaxWatch, a nonpartisan watchdog that was instrumental in launching Amendment 4, found that it will increase Florida’s GDP by almost $929 million and create more than 19,000 new jobs in the Sunshine State over a 10-year period.

While housing has traditionally been one of the cornerstones of Florida’s economy, now it is a major factor in why our economy continues to lag behind the rest of the nation. Amendment 4 will help move the housing market back on track leading to more sales, increased property values and personal wealth, and more jobs. By supporting Amendment 4, voters will help lead Florida to a growing and vibrant economy and continue to make the Sunshine State a great place to live and do business.

© 2012 Florida Realtors®

No “Maybes” about It.  Opinions stated  as facts.  Well if  “United We Stand, Divided We Fall”  is a fact and not an opinion, we are in deep doo doo.

Advertisement for me as a Realtor:

If you are looking to buy property in Palm Coast and want a local expert who will give you a good unbiased analysis of the pros and cons of your available choices rather than a sales pitch to try to get you to buy something, Talk To Ted! 

PLACE IS A WINNER!

I just read some slightly interesting trivia in an e-mail from Trulia. 

Trulia.com  is an online residential real estate site for home buyers, sellers, renters and real estate professionals. It lists properties for sale and rent as well as neighborhood information and community insights. 

The search site most used by homebuyers is still Realtor.com.  But Zillow.com is running a strong second and, where Realtor.Com and Trulia only show properties that are posted on MLS sites, Zillow also shows For-Sale-By-Owner homes and unlisted homes.  Zillow also publishes an infamous price estimate (Zestimate)  for each house.  The Zestimate can be way off base.  Type in your address and check the Zestimate for your house out.  If you do not like it, Zillow allows you to put in your own comments.

But back to Suffixes.  Here is my condensed version of the Trulia article:

“Ever wonder if the homes on “avenues” are typically more expensive than the homes on “streets”? We have. Using our very own database of homes for sale on Trulia we analyzed the median price per square foot for different  address suffixes.  Here’s what we found:

Top 3 Priciest Address Suffixes

1. ”Boulevard”

2. “Place”

3. “Road”

Homes on “boulevard” ($117sq ft average) are the most expensive while the cheapest are those on “street” ($86 sq ft) – that’s a 36% price difference! Although saying you live on “Whatchamacallit Road” may not sound that fancy, at $109 per square foot homes located there are actually the third most expensive of any suffix type. In fact, the median home on a “road” is respectively 8% and 9% more expensive than those located on seemingly more upscale-sounding “court” and “circle.”

Why is “boulevard” the most expensive address suffix? Well, while the word does have a sophisticated French origin, but it actually might have more to do with the mix of the homes located there. Approximately, 37% of homes on “boulevards” are in multi-unit buildings, such as apartments and condos.  These make up no more than 16% of homes on every other address suffix.  And multi-unit buildings are often located in denser, urban areas where space is at a premium.

“Boulevard” may be the most expensive suffix but with only a 2% share of total listings, it’s certainly not the most prevalent one.   22% of listings are located on a “drive.” That’s even more popular than “street” (19%), “road” (16%), and “avenue” (15%).”

To see the whole article, go to “Trulia Training Newsletter September 28,2012”.  If I can't figure out the Blogpost design tools, then I might move this thing to Wordpress.  Sorry for the white background behind some of the copy...I can't figure it out!

Why Palm Coasters Have A Longguyland accent…

Palm Coast is Levittown South!

Just read an interesting post from GoToby about the history of Palm Coast:

"Palm Coast, FL – September 25, 2012 – Palm Coast is a master planned community, a project of ITT Levitt & Sons, the largest home building company in the world at the time. Levitt was the innovator that brought Levittown to Long Island in the years following World War II.

Although Palm Coast's development began only 40 years ago, ITT Levitt was not as constricted by regulations as today's developers. They were free to excavate 46 miles of fresh water canals and 23 miles of salt water canals. The canals helped drain wetlands while the excavated fill was used to elevate adjacent property. The fresh water canals are an integral part of the City's unique storm water management system. The salt water canals, located within the Palm Harbor section of the city created hundreds of building lots with boat access to the Intracoastal Waterway.

The salt water canal system has three separate sections connecting to the ICW. The North Cut and Center Cut lead to "sailboat country" on the east side of Palm Harbor Parkway. Sailboat country, which can be found via Cimmaron Drive or Cottonwood Court, is so named because boaters can traverse from the ICW to their personal home docks without going under any bridges.

The remaining (and majority) of the salt water canal system is accessed via the South cut at the Palm Coast Marina. The main canal passes beneath the Palm Harbor Parkway Bridge near the marina. It provides boaters with 16.7 feet of clearance.

Salt water canal frontage adds significant value to a home site. The median sale price of Palm Coast homes this year to date is $115,000. The median sale price of salt water canal frontage homes is $231,000. Palm Coast lots have sold this year for a median sale price of $15,500 while the median sale price of salt water canal frontage lots sold during the same period is $61,000.

Parallel canals branch off the main canals, creating fingers of land. The fingers provide room for homes on each side of the street with a cul-de-sac at the end. Lots at the end of the street are called tip lots and are more desirable. Tours of the canal system were an integral part of ITT Levitt's early sales efforts.
Of course, no story about a large real estate development is complete without some dirt. When the land was cleared, the trees were supposed to be removed and disposed of. However, one of the contractors elected to cut corners as well as trees. He buried the trees rather than carting them off. The trees began to decompose. Homes built on lots where trees had been buried soon began to settle and crack. Hence the term bore testing. Vacant lots are tested by drilling before construction to assure a proper base.

There is plenty of Florida land on which future developers can build residential projects around golf courses, lakes (retention ponds), equestrian facilities or other amenities. But the current inventory of salt water frontage is fixed by strict environmental regulations. Many Palm Harbor homes were built during the seventies and eighties. Some are small and haven't been updated. Look during the next market upswing for "tear downs;" homes bought solely for the desirability of their location. They will be torn down to be replaced with larger homes featuring more upscale features."