Government Helps Housing Market

Real Estate Broker/Owner with

 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.

Comments (3)

Mike Parle
CENTURY 21 Mulvey Real Estate - Yorktown Heights, NY
It's good to see the government helping out. I especially like the fact that the FBI is investigating some of  the lenders who may have helped to create this mess. 
Feb 05, 2008 08:41 AM
Miami Beach Condos and Homes - Miami Beach, FL

The events of the past several years have certainly refined the home purchasing process, hopefully when business resumes again it will be more efficient and fraud proof


Feb 05, 2008 08:45 AM
Find a Notary Public needAnotary
QEC Internet Services - Long Beach, CA

Mike, do you think many criminal lenders or originations will be prosecuted!  I know of companies who were formed to exploit homeowners and had complete marketing systems to appeal to their target market. 

Lenders and marketers are very smart and they can always appeal to that inner drive of immediate gratification.  That is becoming more an ace in the hole as we become more and more a disposable society.

Jun 19, 2008 04:23 AM

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