Misc Calling it

[iloveflorida]

You are absolutely right. It will be interesting to see how far prices fall. On a separate note, just received the proposed property tax for Walton Co. The appraised value of our home increased a lot so more money for taxes. I hope everyone who bought homes at ridiculous prices are happy now.

To much money in the system causes that.

 

[Matt J]

You are absolutely right. It will be interesting to see how far prices fall. On a separate note, just received the proposed property tax for Walton Co. The appraised value of our home increased a lot so more money for taxes. I hope everyone who bought homes at ridiculous prices are happy now.

Prices won't tank, but a lot of people are suddenly realizing they didn't cash in their lottery ticket at the right time. There's definitely some hold out hopefuls based on new listings, but there's a lot of bored Realtors out there.

Regarding taxes, we got our trim notice today too, not a bill folks don't freak out. It shows if the budget stays the same my taxes go below a grand a year, and while I'd love to throw that down at Thanksgiving dinner, I'm good with an increase to provide bottom up raises that are restricted to hourly and critical county personnel. A lot of that increase will evaporate when our new residents from the last 3 years discover homestead exemptions. Ironically people who moved here from large metros and the northeast seem oblivious because they're still saving tons on property taxes.

 

[SUP Boarder]

What about ongoing and new construction? For example, St Joe / WaterSound Origins is expected to complete ~1,250 homes in the next year:

263 Camp Creek
465 Naturewalk
62 Greenway
115 Longleaf
72 Pines
275 Powell

Doesn't look like it will slow down...

 

[Matt J]

What about ongoing and new construction? For example, St Joe / WaterSound Origins is expected to complete ~1,250 homes in the next year:

263 Camp Creek
465 Naturewalk
62 Greenway
115 Longleaf
72 Pines
275 Powell

Doesn't look like it will slow down...

They were selling before they were CO'd. They aren't selling until completion now. JOE also has the ability to hold onto these as long as they want to. Using the largest local home builder to gauge the market is probably a losing proposition.

 

[iloveflorida]

Sales way off in the report today. Fed will raise rates again at next FED meeting, due to persistent inflation. Mortgage rates then go up and the snowball begins.

 

[Bob Wells]

You are absolutely right. It will be interesting to see how far prices fall. On a separate note, just received the proposed property tax for Walton Co. The appraised value of our home increased a lot so more money for taxes. I hope everyone who bought homes at ridiculous prices are happy now.

I take it you aren't homesteaded

 

[Matt J]

I take it you aren't homesteaded

Shouldn't be if they rent.

 

[Ohio Girl]

We don’t rent our house out and we aren’t homesteaded. Topic of discussion with my better half to decide if we want to spend more time in FL.

 

[Bob Wells]

We don’t rent our house out and we aren’t homesteaded. Topic of discussion with my better half to decide if we want to spend more time in FL.

So the way I understand it, if you aren't homesteaded the increase in assessment is restricted to 10%. If you were homesteaded I believe the assessed value is limited to 3%.

 

[Matt J]

So the way I understand it, if you aren't homesteaded the increase in assessment is restricted to 10%. If you were homesteaded I believe the assessed value is limited to 3%.

3% is correct, but I don't believe there's any cap without homestead.