Large Home Loan Chase bank is easing the lending requirements for its jumbo mortgages, which tend to be loans in excess of $417,000 in many markets and $625,500 in more expensive areas. A potential buyer now only needs a credit score of 680 and a 15% down payment to qualify for a maximum loan amount of $3 million for a primary-residence home. Borrowers used to need a 740 score and put 20% down. By easing its standards, the bank is hoping to gain more customers. "The performance we had on … [Read more...]
Guidance – Owning a Second Home
Tax Planning for Owning a Second Home Learn how mortgage interest, property taxes, rental property and tax-free profit affects your tax return. If you are in the market for a second home, congratulations! Not only can you look forward to having a place to relax, you also can garner some tax benefits for that place at the beach. You can use several tax breaks: Mortgage Interest If you use the place as a second home — rather than renting it out as a business property — interest on the … [Read more...]
The Best of Useppa Island
As seen in Florida Weekly's Best of 2015 Issue - Florida Weekly brings you all things Southwest Florida Living, from dining, recreation, cultural and community events, to business news and education in the Fort Myers area. The Best of 2015 is an Annual Special Section Edition in their line-up that includes a Season Guide for the Arts and A Beautiful Life covering everything Luxury. www.floridaweekly.com The People, Places and Things that make Southwest Florida so Special … [Read more...]
Second Homes – Flood Insurance Increases
Bill Protects Second Homes from Flood Insurance Increases WASHINGTON – July 8, 2015 – Reps. Patrick Murphy (D-Fla.) and Carlos Curbelo (R-Fla.) want to extend a law that limits annual flood insurance premium hikes. The law currently covers owners of Florida primary residences, and the lawmakers want it to also cover owners of second homes and rental properties. While a number of Florida homeowners and investors would hail passage, however, its eventual passage is a long shot. The … [Read more...]
New Laws for Florida Homeowners
New laws go into effect July 1 TALLAHASSEE, Fla. – June 30, 2015 – A number of real estate-related bills passed by the 2015 Florida Legislature and signed by Gov. Rick Scott become effective July 1. They include: Flood insurance SB 1094 expands an effort that began last year to establish a private, primary flood insurance market so property owners have an alternative to the National Flood Insurance Program. It allows insurers to offer "flexible" flood insurance coverage that, among other … [Read more...]
These 18 Cities Will See the Most Economic Growth Next Year
For the past few years, oil towns have dominated the ranks of the fastest-growing economies in America. Now that the energy boom is fading, a new leader is emerging: Retirement communities in Florida that are buoyed by a surge in baby boomers. Naples, Florida, topped the list of metropolitan areas that are expected to see the most economic growth next year, according to an analysis of data in a new report from the U.S. Conference of Mayors prepared by IHS Global Insight. The economy there … [Read more...]
Five Landscaping Ideas for Sellers
You've probably heard how important curb appeal is when you're trying to sell your home. The first thing buyers look at when they pull up to your home is the big picture -- the house, the yard, the trees, the flowers. It's the impression that counts, and all it takes is one thing to ruin the effect -- a cracked walkway, dead branches in the trees, neglected shrubbery. As you look around at all the things you need to fix or update to sell your home, it can be overwhelming. Many sellers … [Read more...]
Fresh Ideas for Spring – Homes on Useppa Island
Here's a few fresh ideas for spring. Expand your living spaces outdoors into the sunshine and fresh air. Make those outdoor and indoor living spaces reflect their marvelous beach location by creating warm and inviting areas to relax, entertain, dine and more. Deck out a Dining Porch Create a great space for dining and entertaining on a porch or patio space. Comfy furniture, welcoming colors and fresh flowers create an inviting location for multiple uses. Enjoy the sights and smells of … [Read more...]
Brighten Your Home with a Cozy Breakfast Nook
Who doesn't love a cozy breakfast nook? It’s a warm and inviting place to start your day off on the right foot. Even if you get up on the wrong side of the bed. A breakfast nook is one of the most desirable features for today's families, serving as the ideal spot for casual meals, homework, art projects, meal planning and catching up at the end of the day. Whether you're drinking your orange juice and reading, or gathering with the whole family for pancakes on Saturday, a breakfast nook is an … [Read more...]
FLOOD INSURANCE UPDATE – Useppa Island Real Estate
Important Flood Insurance Update Information for Southwest Florida Hurricane Katrina and Super Storm Sandy had devastating impacts on commercial and residential properties that effected hundreds of thousands of businesses and households. Both storms caused significant flood damage, exposing several deficiencies in the Federal Flood Program managed by FEMA. The public scrutiny lead to significant changes in certain local flood mapping, which lead to significant rate increases. This lead to … [Read more...]