Government Helps Housing Market

The Government Takes Action

Visiting popular news and real estate websites these days usually includes at least some small blurb about the government’s latest effort to try and spur what many consider a stagnant and languishing economy.  The most notable of these which may have been passed by the time you read this is the income tax rebate designed with the intention of encouraging people to spend and the other being the seemingly weekly Fed cuts.  Here in Florida, Amendment 1 was recently passed, something many homeowners were quite happy about.

There’s no doubt that anyone attempting to sell a South Beach condo is having a much tougher time as of late, especially if they’re trying to do so within a certain timeframe.  But what about the people who aren’t necessarily in any kind of hurry but still want to move to greener pastures?  Their fear may be incurring higher property taxes, something that is largely no longer relevant thanks to Amendment 1 which decreases property taxes paid yearly and pretty much ensures that a homeowner won’t be penalized with higher rates should they move elsewhere.

Existing homeowners should also see substantial benefits if they’ve got home equity lines of credit with the proposed tax rebates and rate cuts.  It may or may not be as large as they like but it’s always useful for using as a means of saving, paying off bills, or using it for the purposes the government intended.

All these national and local government efforts are, to a certain degree, welcome in not only “re-encouraging” economic growth but also getting people interested in Miami and South Beach real estate again.  Homeowners can use the relief and the assistance and Floridians will breathe a sigh of relief at the prospect of not paying more than they have to just because they’re choosing to start fresh in a new place.